Report: Russian Economy Is Imploding. I know, I know, it runs counter to the media narrative, but it just might be accurate. The conclusions:
– Russia’s strategic positioning as a commodities exporter has irrevocably deteriorated, as it now deals from a position of weakness with the loss of its erstwhile main markets, and faces steep challenges executing a “pivot to Asia” with non-fungible exports such as piped gas
– Despite some lingering leakiness, Russian imports have largely collapsed, and the country faces stark challenges securing crucial inputs, parts, and technology from hesitant trade partners, leading to widespread supply shortages within its domestic economy
– Despite Putin’s delusions of self-sufficiency and import substitution, Russian domestic production has come to a complete standstill with no capacity to replace lost businesses, products and talent; the hollowing out of Russia’s domestic innovation and production base has led to soaring prices and consumer angst
– As a result of the business retreat, Russia has lost companies representing ~40% of its GDP, reversing nearly all of three decades’ worth of foreign investment and buttressing unprecedented simultaneous capital and population flight in a mass exodus of Russia’s economic base
– Putin is resorting to patently unsustainable, dramatic fiscal and monetary intervention to smooth over these structural economic weaknesses, which has already sent his government budget into deficit for the first time in years and drained his foreign reserves even with high energy prices – and Kremlin finances are in much, much more dire straits than conventionally understood
– Russian domestic financial markets, as an indicator of both present conditions and future outlook, are the worst performing markets in the entire world this year despite strict capital controls, and have priced in sustained, persistent weakness within the economy with liquidity and credit contracting – in addition to Russia being substantively cut off from international financial markets, limiting its ability to tap into pools of capital needed for the revitalization of its crippled economy.
Enough for the good news. This Climate Expert Says We’re Screwed, And There’s Nothing We Can Do About It:
The publication of Bill McGuire’s latest book, Hothouse Earth, could not be more timely. Appearing in the shops this week, it will be perused by sweltering customers who have just endured record high temperatures across the UK and now face the prospect of weeks of drought to add to their discomfort.
And this is just the beginning, insists McGuire, who is emeritus professor of geophysical and climate hazards at University College London. As he makes clear in his uncompromising depiction of the coming climatic catastrophe, we have – for far too long – ignored explicit warnings that rising carbon emissions are dangerously heating the Earth. Now we are going to pay the price for our complacence in the form of storms, floods, droughts and heatwaves that will easily surpass current extremes.
The crucial point, he argues, is that there is now no chance of us avoiding a perilous, all-pervasive climate breakdown. We have passed the point of no return and can expect a future in which lethal heatwaves and temperatures in excess of 50C (120F) are common in the tropics; where summers at temperate latitudes will invariably be baking hot, and where our oceans are destined to become warm and acidic. “A child born in 2020 will face a far more hostile world that its grandparents did,” McGuire insists.
Why Don’t Democrats Envision A World With Fewer Cars? E-bikes credit excised from Manchin’s Bill:
For all the justified celebration, the bill exposes a persistent blind spot pertaining to transportation, the single largest source of emissions in the United States: Congressional Democrats struggle to imagine a world where fewer people drive.
Specifically, instead of reducing emissions by swapping their SUVs for identical electric models, more Americans could ditch their cars entirely and get e-bikes. A growing body of evidence suggests that such a mode shift is already happening, leading to lower emissions—as well as safer streets and healthier citizens. But instead of using its climate bill to catalyze this encouraging trend, the Senate has tossed out an e-bike tax credit that was in the Build Back Better Act that the House passed last year.
For the unfamiliar, an e-bike is basically a traditional pedal bike affixed with a battery that offers a boost when a rider is conquering a hill, lugging groceries, or simply trying to avoid showing up sweaty to work. For a bit more money, e-cargo bikes offer additional capacity for hauling goods or kids.
For shorter trips, the extra power helps e-bikes replace car trips that a pedal bike could not. Each such substitution is a step toward curbing climate change because e-bikes produce significantly lower emissions per passenger mile than even an electric car. Their manufacturing process consumes less power and resources, and their small batteries are far less thirsty for electricity. (Which isn’t surprising, when you consider that the Hummer EV’s 2,923-pound battery weighs as much as 380 Rad Power e-bike batteries.)
Delaware legislators: You can do this at the state level. Do it.
Delaware To Become Mecca For Traveling Artists? It’s possible due to brand new soundstage:
There’s a possibility your favorite arena-touring music artist might become a client at Wilmington’s new multimillion-dollar Pine Box soundstage — as long as they have $5,000 per day for rent.
The facility cost an estimated $18 million to construct and outfit.
The star of the show is the soundstage, complemented by studio space, and meant to be rented out to clients including film crews, Broadway stars and touring musicians.
One of the most unique things about the Pine Box is it has the only soundstage in the tri-state that features a motorized grid that goes up and down. It can be raised up to 80 feet, Humphrey said.
The motorized grid is key because it allows stage crews to stand on the ground while hooking lights, sound and video equipment onto it, rather than climb high above the stage on a ladder to do that.
Looks like this was almost all private investment. I, for one, am rooting for it to succeed.
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