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Pentagon Gives Tacit Support for Ukrainian Drone Attacks Deep Inside Russia

Pentagon Gives Tacit Support for Ukrainian Drone Attacks Deep Inside Russia

The Times reports that the US no longer has the same concerns about escalations and is likely to send longer-range weapons

The Pentagon has given its tacit endorsement of Ukrainian attacks inside Russian territory and no longer fears such operations could lead to a “dramatic” Russian escalation, The Times reported on Friday, citing unnamed US defense officials.

The US position appears to only be based on the fact that up to this point, Russia hasn’t responded to attacks on its territory with nuclear weapons or by attacking NATO countries.

The Times report reads: “Moscow’s revenge attacks have to date all involved conventional missile strikes against civilian targets. Previously, the Pentagon was warier of Ukraine attacking Russia because it feared the Kremlin would retaliate either with tactical nuclear weapons or by targeting neighboring NATO nations.”

The report came after Ukrainian drone attacks hit Russian air bases deep inside Russian territory, including one that killed three Russian soldiers and damaged two Russian bombers. Following the attacks, Russian missiles pounded Ukrainian energy infrastructure, worsening the already dire situation for millions of Ukrainian civilians who are without power and heat in freezing temperatures.

Russia didn’t start launching large-scale attacks on Ukrainian energy infrastructure until October, after the truck bombing of the Kerch Bridge, which connects Crimea to the Russian mainland. US officials previously said that they support Ukrainian attacks on Crimea.

The Times report said that the US doesn’t want to publicly give Ukraine the greenlight to attack targets inside Russia. In public comments, US officials have said they are not “encouraging” or “enabling” Ukrainian strikes inside Russian territory. But a US defense official said that it’s up to Ukraine where they attack and that they have limited restrictions on using US-provided weapons.

…click on the above link to read the rest…

Who Is Purposely Sabotaging Power Plants All Over America?

Who Is Purposely Sabotaging Power Plants All Over America?


Someone has been attacking power plants all over the country, and federal authorities are trying to determine who it is.  In recent days, we have seen significant sabotage on both the east and west coasts, and so it can’t just be one individual that is responsible.  During the first eight months of this year, there were a total of 106 attacks on the electrical grid in the United States, and that represents the highest number ever recorded in a single year.  Hopefully authorities will be able to get to the bottom of this mystery, because winter will soon officially begin.  If power goes out in your neck of the woods for an extended period of time during the months ahead, what will you do?

Nobody is trying to claim that the string of attacks that we have been witnessing is “accidental”, and ABC News is reporting that “federal authorities are investigating” this very disturbing trend…

Federal authorities are investigating a number of recent reported acts of sabotage on utility companies, a senior law enforcement source told ABC News.

The move comes in the wake of substations being riddled with bullets in North Carolina, leaving tens of thousands without power for days.

After the incident, the utility companies reached out to federal authorities in recent days to investigate, the source said.

The recent incident in North Carolina was particularly alarming.

At approximately 7 PM on Saturday night, gunfire erupted at two electrical substations in Moore County.  Officials are calling this “an intentional and coordinated attack”

…click on the above link to read the rest…

Permian Pushes US December Oil Production to Post Pandemic High

Permian Pushes US December Oil Production to Post Pandemic High

All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIAʼs November Petroleum Supply monthly PSM which provides updated information up to September 2022.

U.S. September production increased by 289 kb/d to 12,268 kb/d.  It should be noted that August’s oil production was revised up by only 4 kb/d in the current September report. The large increase over the August update is real. For September, the states with the largest increase were Texas 90 kb/d, New Mexico 75 kb/d and North Dakota 43 kb/d. The Gulf of Mexico added 64 kb/d.

September’s production was at a new post pandemic high and crossed 12,000 kb/d. It is now 732 kb/d below the pre-pandemic high of 13,000 kb/d 

While overall US oil production increased, a clearer indication of the health of US production can be gleaned by looking more closely at the Onshore L48 states.  In the Onshore L48, September production increased by 208 kb/d to 9,989 kb/d. This means that 72% of the increase in US production came from the Onshore L48.

The blue graph, taken from the November 2022 STEO, is the production forecast for the U.S. from October 2022 to December 2023. Output for December 2023 is expected to be 12,580 kb/d.

The red OLS line from June 2020 to September 2022 indicates a monthly production increase of 50.5 kb/d/mth over that period. The first portion of red line stops at September because that is the range covered by the OLS analysis. The second portion is the same OLS line extended to see how well it fits the STEO forecast.

Oil Production Ranked by State

Listed above are the 10 states with the largest US production. These 10 accounted for 81.9% of all U.S. oil production out of a total production of 12,268 kb/d in September 2022. 

…click on the above link to read the rest…

The Chris Hedges Report Podcast: Richard Wolff

The Chris Hedges Report Podcast: Richard Wolff

The Chris Hedges Report Podcast speaks with the economist Richard Wolff about inflation, growing income inequality and the looming disasters built into the U.S. economic system

US Nuclear Reactors Among The Oldest In The World

US Nuclear Reactors Among The Oldest In The World

The United States’ 92 nuclear reactors currently in operation have a mean age of 41.6 years, the third oldest in the world.

As Statista’s Katharina Buchholz reports, the only nuclear fleets that are older are those of Switzerland (46.3 years) and Belgium (42.3 years). Also older are the singular reactors in use in Armenia and the Netherlands.

Infographic: U.S. Nuclear Reactors Among The Oldest In The World | Statista

You will find more infographics at Statista

The U.S. was among the first commercial adopters of nuclear energy in the 1950s, explaining the number of aging reactors today. A building boom between the 1960s and 1970s created today’s nuclear power plants in the United States. The five reactors completed in the 1990s and the one finished in 2016 were all holdovers of delayed construction projects from the 1970s experiencing roadblocks due to regulatory problems and mounting opposition to nuclear energy. The most recent construction start date of a completed U.S. reactor today is 1978 – one year before the nuclear accident at Three Mile Island, which further cemented the public’s rejection of nuclear energy and the challenges of updating nuclear reactor infrastructure today. However, two reactors started at Vogtle power plant in Georgia in 2013 will join the grid soon as the newest additions to the U.S. fleet. They too experienced many regulatory and other delays, culminating in the bankruptcy of the reactor construction company. The U.S. government stepped in with a loan so that the project can now be finished almost 17 years after its initial proposal.

The U.S. today is one of only 15 countries which the World Nuclear Industry Status Report lists as actively pursuing nuclear energy. This includes new nuclear programs in the United Arab Emirates, Belarus and Iran that were started in the past decade only, as well as a younger program in China that started producing power in 1991 and today has a mean reactor fleet age of just nine years…

…click on the above link to read the rest…

The Great Gold Robbery of 1933

The Great Gold Robbery of 1933

gold1

It’s been 75 years since the federal government, on the spurious grounds of fighting the Great Depression, ordered the confiscation of all monetary gold from Americans, permitting trivial amounts for ornamental or industrial use. This happens to be one of the episodes Kevin Gutzman and I describe in detail in our new book, Who Killed the Constitution? The Fate of American Liberty from World War I to George W. Bush. From the point of view of the typical American classroom, on the other hand, the incident may as well not have occurred.

A key piece of legislation in this story is the Emergency Banking Act of 1933, which Congress passed on March 9 without having read it and after only the most trivial debate. House Minority Leader Bertrand H. Snell (R-NY) generously conceded that it was “entirely out of the ordinary” to pass legislation that “is not even in print at the time it is offered.” He urged his colleagues to pass it all the same: “The house is burning down, and the President of the United States says this is the way to put out the fire. [Applause.] And to me at this time there is only one answer to this question, and that is to give the President what he demands and says is necessary to meet the situation.”

Among other things, the act retroactively approved the president’s closing of private banks throughout the country for several days the previous week, an act for which he had not bothered to provide a legal justification. It gave the secretary of the Treasury the power to require all individuals and corporations to hand over all their gold coin, gold bullion, or gold certificates if in his judgment “such action is necessary to protect the currency system of the United States.”

…click on the above link to read the rest…

It Was Never About Ukraine

It Was Never About Ukraine

In his March 21 press briefing, State Department spokesman Ned Price told the gathered reporters that “President Zelenskyy has also made it very clear that he is open to a diplomatic solution that does not compromise the core principles at the heart of the Kremlin’s war against Ukraine.” A reporter asked Price, “What are you saying about your support for a negotiated settlement à la Zelenskyy, but on whose principles?” In what still may be the most remarkable statement of the war, Price responded, “this is a war that is in many ways bigger than Russia, it’s bigger than Ukraine.”

Price, who a month earlier had discouraged talks between Russia and Ukraine, rejected Kiev negotiating an end to the war with Ukraine’s interests addressed because US core interests had not been addressed. The war was not about Ukraine’s interests: it was bigger than Ukraine.

A month later, in April, when a settlement seemed to be within reach at the Istanbul talks, the US and UK again pressured Ukraine not to pursue their own goals and sign an agreement that could have ended the war. They again pressured Ukraine to continue to fight in pursuit of the larger goals of the US and its allies. Then British prime minister Boris Johnson scolded Zelensky that Putin “should be pressured, not negotiated with.” He added that, even if Ukraine was ready to sign some agreements with Russia, the West was not.”

Once again, the war was not about Ukraine’s interests: it was bigger than Ukraine.

At every opportunity, Biden and his highest ranking officials have insisted “that it’s up to Ukraine to decide how and when or if they negotiate with the Russians” and that the US won’t dictate terms: “nothing about Ukraine without Ukraine.” But that has never been true…

…click on the above link to read the rest…

Will the American Empire Collapse in Our Lifetime?

Will the American Empire Collapse in Our Lifetime?

All good things must come to an end.

Even the greatest of civilizations has an expiration date.

This happened to the likes of Ancient Greece and Rome, who were the most advanced civilizations of their respective epochs.

Once prosperous civilizations, eventually met their demise after years of economic and military decline. The arrogance, corruption, and myopia of their respective elites ushered in an irreversible phase of civilizational decline.

For centuries, historians have studied the causes of these civilizations’ respective declines. Elites of previous centuries did the best they could to understand the lessons of the past, and in turn, attempted to build political structures that would avoid similar fates of decline.

The Founding Fathers of the American Republic made sure to learn the lessons of Greece and Rome and create a system of government that would prevent many of the fatal mistakes these civilizations previously made.

While the American experiment has largely been successful, it is starting to go through a predictable phase of civilizational decay.

The past century has witnessed the American political class pursue policies that go against the very nature of the founding of the American Republic. Namely, the adherence to the principles of limited government.

The excessive domestic and military spending, the out of control monetary policy, the cultural decadence…..

Just some of the hallmarks of a civilization that’s clearly in a stage of decay.

It will take a massive awakening of the American populace to reverse course and prevent the country from falling down the predictable route of civilizational collapse.

The US will be no exception to this trend if things don’t reverse course anytime soon.

In the meantime, make sure to check out George Gammon’s video on how the American Empire could potentially collapse.

11 Signs That Economic Activity Is Plunging Off A Cliff

11 Signs That Economic Activity Is Plunging Off A Cliff

Have you noticed it too?  There has been a dramatic shift in the economy in recent days.  It has been sudden and it has been severe.  All over the country, sales are falling like a rock, inventories are piling up to alarming levels, and large companies are beginning to conduct mass layoffs.  Perhaps it was inevitable that such a downturn would arrive, but the Federal Reserve has made things far worse by rapidly hiking interest rates.  Every other time the Fed has engaged in such a rate hiking binge it has resulted in a recession, and there is no way that we are going to escape unscathed this time around.  The following are 11 signs that economic activity is plunging off a cliff…

#1 This year, only 74 percent of Americans will celebrate Thanksgiving because so many people are skipping the holiday in order to save money…

In 2021, researchers note that an IPSOS survey found that nine in 10 Americans planned to celebrate Thanksgiving. This year, the new poll of 1,000 people found that number has fallen to just 74 percent. In fact, 47 percent say they’re celebrating “Friendsgiving” because of its more budget-friendly menu. Specifically, just 24 percent of Friendsgiving celebrations will even have a turkey on the table, with 33 percent opting for a pizza instead!

#2 Used vehicle prices have just plunged at the fastest pace that we have seen since 2008.

#3 A Dollar General assistant manager named Travis Bennett recently posted a video on TikTok that showed unsold inventory at his store literally piling up to the roof

In a video with over 380,000 views addressed to “anyone inside this company that actually cares,” TikTok user Travis Bennett shows the conditions of his Dollar General. This includes boxes filling the aisles and numerous crates that have not been unpacked. Bennett says this is typical for “most Dollar General stores across the country.”

…click on the above link to read the rest…

Tucker Carlson: The U.S. is about to run out of diesel fuel

Tucker Carlson: The U.S. is about to run out of diesel fuel

World Dollar Hegemony Is Ending (and That May Be a Good Thing)

World Dollar Hegemony Is Ending (and That May Be a Good Thing)

petrodollar

The end of world dollar hegemony is coming and hardly anyone in government is taking notice or even understands what this means. Since the Bretton Woods Conference in 1944, the dollar has been the only currency accepted throughout the world for settlement of international trade accounts among nations.

Prior to 1944, physical gold was used for international settlement. When an exporter in country A sold goods to an importer in country B, country B would pay with its own currency. But country A would have no interest in allowing country B’s currency to build up in its vaults beyond an amount required to settle its own importers’ needs. Thus, country A would demand that country B redeem its own currency in gold. Sometimes country B would ship physical gold to country A. Or perhaps gold held in safekeeping in a third country would be designated as now belonging to country A, a book entry transaction that is more convenient than physical movement.

The Bretton Woods Agreement and Its Demise

The Bretton Woods Agreement added the dollar as tantamount to physical gold at $35 per ounce. The reason was simple: at the end of World War II the United States had accumulated a preponderance of gold, due primarily to its role as the “arsenal of democracy.” Thus, central banks could exchange dollars for settlement rather than moving or redesignating the ownership of physical gold. The weakness of this system was that the world had to trust the USA not to create more dollars than it could redeem for gold at $35 per ounce. But central banks always had the option to demand physical gold from the USA and hence ensure that their trust in the measure of $35 per ounce was fully supported.

…click on the above link to read the rest…

Climate change threatening ‘things Americans value most,’ U.S. report says

John F. Kerry, the special presidential envoy for climate, speaks during a briefing at the State Department on Wednesday. (Susan Walsh/AP)
John F. Kerry, the special presidential envoy for climate, speaks during a briefing at the State Department on Wednesday. (Susan Walsh/AP)

Climate change is unleashing “far-reaching and worsening” calamities in every region of the United States, and the economic and human toll will only increase unless humans move faster to slow the planet’s warming, according to a sprawling new federal report released Monday.

“The things Americans value most are at risk,” the National Climate Assessment authors, who represent a broad range of federal agencies, write in the draft report. “Many of the harmful impacts that people across the country are already experiencing will worsen as warming increases, and new risks will emerge.”

The congressionally mandated assessment, last issued under the Trump administration in 2018, comes as world leaders gather this week in Egypt for a U.N. Climate Change Conference, known as COP27, aimed at prodding nations to tackle the problem with more urgency.

The report’s authors detail how climate-fueled disasters are becoming more costly and more common, and how the science is more clear than ever that rapid cuts in greenhouse gas emissions are needed to slow the profound changes that are underway.

Humans have pushed the climate into ‘unprecedented’ territory, landmark U.N. report finds

The draft report, which probably will be finalized next year after a period of public comment and peer review, finds that in a world that has already warmed 1.1 degrees Celsius (2 degrees Fahrenheit) above preindustrial levels, the situation in the United States is even more extreme.

“Over the past 50 years, the U.S. has warmed 68 percent faster than the planet as a whole,” the report finds, noting that the change reflects a broader global pattern in which land areas warm faster than the ocean, and higher latitudes warm more rapidly than lower latitudes.

…click on the above link to read the rest…

US NatGas Futures Jump As Frigid Weather Set To Swoop Across Country

US NatGas Futures Jump As Frigid Weather Set To Swoop Across Country

US natural gas futures bottomed on Oct. 24 after a 50% haircut on warmer weather. In the last two weeks, prices have staged a rally on the prospect of cold weather and tighter supplies. Last Monday, we penned a note titled “US NatGas Spikes As Temperatures Are About To Dive Nationwide.” Now, with colder weather sweeping across the US, NatGas prices are up a staggering 49% in eleven sessions.

On Monday morning alone, NatGas futures are up 10%. Bloomberg said the move higher is weather-related, “as a winter storm hits the Pacific Northwest and frigid weather is expected across most of the country.”

National Oceanic and Atmospheric Administration released a 6-10 day temperature outlook for the lower 48 states showing that most of the country will experience below-average temperatures.

An 8-14 day temperature outlook by the weather agency also points to continued below-average temperatures for much of the US.

After an unseasonably warm end of October and the first week of November, the warm spell is forecasted to turn today. Average temperatures are expected around 58 degrees Fahrenheit and will revert to a downward sloping 30-year mean of the mid-40s by mid-month.

Colder weather indicates heating demand will rise, and so will the demand for NatGas.

The latest rally in NatGas outlines how sensitive traders are to potential cold snaps, as below-normal stockpiles and surging exports could strain domestic stockpiles in a deep freeze in the months ahead.

Are You Ready for the Coming U.S. Government Default?

Are You Ready for the Coming U.S. Government Default?

The vast herd of investors are a deluded crowd.  Following the Federal Reserve’s much anticipated 75 basis point rate hike on Wednesday the major stock market indexes jumped upward.

Optimistic investors keyed in on the Federal Open Market Committee (FOMC) statement and, in particular, the remark that the Fed, “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation and economic and financial developments.”

Somehow this was perceived as being the precursor to a policy pivot.  Yet during the post-FOMC statement press conference, Powell clarified that, “It’s very premature to be thinking about pausing.”

Stocks then fell off a cliff.  The Dow Jones Industrial Average (DJIA) closing out the day with a loss of 505 points.

Will there be a pivot, pause, or no pivot?  This is the wrong question to be asking.  The reality is the major stock market indexes have much farther to fall before the bear market is over, regardless of if the Fed pivots anytime soon.

If you recall, the Fed began cutting interest rates in September of 2007.  Yet the stock market didn’t bottom out until March of 2009.  Similarly, the Fed began cutting interest rates in January of 2001.  Still, the stock market didn’t bottom out until October of 2002.

Thus, using these two most recent bear markets as a guide, once the Fed finally begins cutting interest rates, which would come after inflation has begun to abate and a period of interest rate pause, the stock market will continue to fall for another 18 to 22 months.

In other words, this bear market may not bottom out until well into 2025.  What’s more, the entire dollar based financial system will likely blow up sometime beforehand.

How’s that for a grim outlook?

…click on the above link to read the rest…

There Is No Way Out for Europe

The late historian Toynbee argued, that when civilizations meet a challenge they cannot overcome or resolve, they rather commit suicide than to let themselves murdered by outside forces. I sincerely doubt however that anyone from the political class in the West read Toynbee, let alone be influenced by his thoughts… Yet, here we are at this historical juncture clearly marking the end of centuries long Western dominance, colonization and exploitation — and together with a looming fall in global oil production: the slow decline of industrial civilization. What do we do next? Are we strong enough to step back and stop this madness?

Systems, which took centuries to build up and evolve to their current form are not willing to give up on their dominance easily. What we are witnessing today is but a beginning to a long political, economical and technological struggle lasting (probably many) decades into the future. The economic superorganism encircling the planet is doing everything to keep itself alive for a little longer while being starved of energy. It would first crack in two large chunks, then after the crumbling an fall of its more depleted half, the other would follow suit.

With the above process in mind, let’s first make a quick sweep through the economic news in Europe, where the idea of Western dominance born and where it seems to meet its fate. So, how things look like on the onset of Europe’s long descent? On the face of it, the continent it seems has now filled up its gas storage units to the brim and LNG tankers are now queuing up in front of European ports waiting to be unloaded…

…click on the above link to read the rest…

Olduvai IV: Courage
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Olduvai II: Exodus
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