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.
With the speed at which restrictions are disappearing we will shortly see our alleged leaders claiming credit for their victory in defeating the pandemic.
In advance of those headlines, here are a number of reports to keep in mind: articles on adverse medical consequences, increasing supply chain disruption, and flaming hypocrisy from flagrant hypocrites:
Leaked information from military’s medical database shows severity of adverse effects from vaccinations.
In England, the vaccinated are getting sicker at higher rates than the unvaccinated.
In New York state the double jab is a mere 12% effective for young children.
Police officers moving to the Inland Empire area of California to escape vaccination dictats.
Train robberies are a thing in Los Angeles.
Weapon thefts are part of those train robberies.
Backups at US ports are spreading.
School board in New York blows off masks while schoolchildren suspended for doing the same.
Masks optional for SAG awards and mandatory for schoolchildren.
When you see the declarations of victory by our rulers in political office, overlords in the public health sector, and our betters in news media, remember what they did.
Remember what happened.
Remember who took away 18 months or 2 years of your child’s education.
Remember who cratered the economy and caused the supply shortage we see every day.
Remember who generated the Carter-era rate of inflation we see all around us.
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:
Most importantly, after the explosion, please do get indoors.
Then go the basement or interior of the building.
That’s sound advice so far.
Well, then you should
“Stay away from the outer walls and roof. Try to maintain a distance of at least six feet between yourself and people who are not part of your household. If possible, wear a mask if you’re sheltering with people who are not a part of your household. Children under two years old, people who have trouble breathing, and those who are unable to remove masks on their own should not wear them.” (emphasis added)
Mask mandates are going away everywhere. It is almost as if a memo went out over the weekend of February 5, 2022 to all the people who have had their boot firmly planted on our face that they should switch to sneakers.
I’ll leave it for you to consider what has caused this radical change in ‘science’ over one weekend.
Regardless of the cause, the floodgate opened.
Consider articles describing what has happened this week:
California will lift the blanket indoor mask mandate.
New Jersey, Oregon, Connecticut, and Delaware do the same.
Nevada joins in.
Los Angeles County slightly relaxes their mask requirements.
Eight counties in the Bay Area will lift their mask mandate.
Almost fell out of my chair reading one comment in the San Francisco Chronicle article discussed below. Unidentified public health officials are arriving at a conclusion which was achieved by dozens of other states approximately 23 months ago. I will quote the article, because otherwise you would think I’m imagining this:
“…officials say they plan to ease away from legal mandates to dictate behavior and instead trust individuals to make their own health decisions, including whether and when to wear masks.”
Wow. Only took two years to make that realization. I guess that’s better than never.
Until this month, a trust-the-public attitude was prohibited, with penalty of banishment from the public square for anyone who held such a radical, heretical concept. After the weekend, trusting people to make their own decisions is suddenly acceptable.
The New Jersey and Nevada governors also made previously-heretical comments.