Rising PCE price index is sitting at the highest level since 1982, which is 40 years ago.
Unless you are in your 60s or older, you have little memory of inflation at this severe a level. If this sustains for a few more years, the impact will be brutal.
Personal Consumption Expenditure (PCE) inflation index increased 0.6%, which follows 0.5% in January 2022 which was revised downward from 0.6%.
The core PCE inflation rate (without food and energy) was 0.4% in February, following 0.5% rise in January, matching the 0.5% increase for the previous three months. The October 2021 increase was revised up 0.1%.
The Securities and Exchange Commission issued proposed rules for emissions risk accounting and disclosures by public companies. After the 60 day comment window the SEC will work on final rules.
(Discussion from my other blog, Attestation Update, is posted here because of the impact these rules will have on economic freedom and prosperity. You can ponder the impact for yourself.)
The proposal creates three areas for measurement and disclosure. Scope 1 is emissions from a company’s own operations, whether it is manufacturing cars, producing coal, or running a bank. Scope 2 is emissions generated from the energy consumed by company as an input to their operations. This could be the electricity to operate the branches and computers of a bank or it could be all of the coal consumed to produce steel.
As if that does not stretch your brain far enough, there is Scope 3. Those are the missions of all of the vendors to a company and all the consumers of its products. This is not just immediate vendors and direct consumers. This includes the emissions of the vendors’ vendors and their vendors, all the way back to when raw materials were first pulled out of the ground.
This includes emissions generated by your customers as they use your products and also your customers’ customers’ emissions. This goes all the way to the end consumer. Furthermore, this is life cycle costs.
As a brain stretcher, for a utility providing natural gas to consumers Scope 3 would include the emissions generated as consumers heat their home. The lifecycle is very short since the gas will be used as soon as it arrives at the houses.
Now that Covid infection rates have collapsed in the United States, our political and public health ‘leaders’ are backtracking on the steps they took which caused so much damage.
Before they take credit for a virus variant running its course and fading away, we need to be pay attention to all those who caused trauma by their actions and who had their thumb on the scales when quantifying the impact of the virus.
Articles for your consideration today:
CDC “accidentally” overcounted Covid deaths.
Massachusetts overcounted Covid deaths by including deaths from any cause whatsoever if a person had an infection diagnosis within 60 days prior to death.
An incomplete list of people and organizations who owe us profuse apologies for the damage they have caused.
Over the last two years reports have surfaced here and there hinting at the following predictions. In the next few months more reports will emerge.
It will take honest, serious researchers years before statistically valid research provides solid evidence for these predictions. Strong, verifiable, reproducible proof will emerge with time.
I predict that in a decade or two there will be a consensus throughout the country that the government reaction to the coronavirus pandemic was the worst, most destructive government policy in U.S. history.
Seven predictions follow:
1 – Government response caused more deaths as measured by years-of-life-lost than deaths prevented by the government response as measured by years-of-life-lost.
Since April 2020 I have been writing about the damage caused by the economic shutdown imposed by federal and state governments. Over 200 posts on this blog point out the economic, political, social, educational, and medical damage directly caused by government action.
I started writing in early April 2020 calling out the danger of lockdowns with my first direct complaint on 4/26/20 about the damage caused by government actions.
To lay down my first marker, here is the headline and first paragraph from back in late April 2020:
A year ago this would have gotten your on-line accounts banned and gotten you cancelled: CDC acknowledges prior infection provides more protection than vaccinations.
England lifts ALL covid restrictions. Yes, all.
WHO recommends all international travel be resumed and no more checking of vaccination status before international travel.
It would appear that a growing number of alleged leaders in the business world have slowly come to the conclusion that killing their company is not a bright idea. Corporate suicide is not a promising strategy to increase value of those juicy stock options.
As mentioned in part 1, if you find lots of sarcasm along with point-and-laugh-out-loud ridicule in these two posts, my apologies. I really wish I had the ability to pour on the heads of our supposed leaders the full dose of ridicule these ‘leaders’ have so richly earned.
When you read below of the about-face by GE, keep in mind how harshly they dealt with staff who filed for a religious exemption.
At issue is all the covid vaccines were either developed or produced using fetal stem cells somewhere in the process. This is deeply offensive for some people of faith.
For anyone who requested a religious accommodation, GE gave the person a list of about 20 medicines and asked if the person had ever used any of them. The handout asserted all those items were either developed, tested, or produced using fetal stem cell tissue. The handout then asked the applicant to provide a theological explanation for the distinction between using any one of those meds and getting a covid vaccination.
That is some serious hardball.
GE says never mind – don’t get a shot if you don’t feel like it for any reason. No further questions will be asked.