Coal ash in the bottom of a lake

In an article yesterday in The Charlotte Observer by Sara Coello called “Researchers detect coal ash beneath five NC lakes, including a Charlotte water source” a troubling study result indicates that coal ash has been invasive over time. It is the gift that keeps on giving long after its use and not in a good way.

Here are the first few paragraphs from the article, with a link to the full piece below:

“Scientists have detected coal ash in sediment at the bottom of five North Carolina lakes, evidence that it can reach bodies of water in previously unknown ways. Sediments beneath Mountain Island Lake, a drinking water source in and near Charlotte, was one spot where ash was detected. The study did not conclude that the waste is a risk to people or wildlife, but recommends more research.

Experts had thought that coal ash polluted ground and surface waters primarily by leaking from pits and ponds where power companies traditionally stashed it. Duke Energy is excavating 80 millions tons of coal ash across the state to reduce that threat, with 5.4 million tons once stored close to Mountain Island Lake already removed.

But researchers from Duke and Appalachian State universities found that airborne ash particles fell directly into lake waters over the past 40 to 70 years, especially before pollution controls were installed. And that ash particles that dropped to the ground also washed into the lakes, especially during extreme weather.

‘We thought that the majority of the coal ash is restricted to coal ash ponds and landfills,’ said Avner Vengosh, a professor at Duke’s Nicholas School of the Environment. ‘Now we see it’s already in the open environment.’”

One of the many costs of burning coal that is usually underestimated is the long-term impact of trying to keep coal ash corralled long after the coal has been burned. The Dan River spill from a few years back was from coal ash from a closed down plant. This is why we must continue to move (and have moved away from) coal burning to create electricity. The tail on its maintenance is very long and costly.

This is also why I have long been critical of leaders from coal mining states. They have known this for years and instead of helping workers to transition to newer cleaner energy solutions, they clinged to the past. The last time I looked the sun shines, the water flows and the wind blows in Kentucky, West Virginia, Ohio, Pennsylvania and Virginia.

US Solar jobs dwarf coal jobs today, but that is not news and was highly predictable several years ago. Oil tycoon T. Boone Pickens said about ten years ago on “60 Minutes” the future of energy in the US is with wind energy. Natural gas will buy time, but the wind blows across the plains and offshore.

Solar and wind energy are now on par with or better than fossil fuel production costs. But, when you factor in all of the other costs related to acquisition, transport, healthcare, maintenance and litigation, eg. the costs for renewables beat the pants off coal and even natural gas. And, when a wind mill offshore “spills” the only thing that happens is a splash.

Read more at: https://www.charlotteobserver.com/news/local/article266613326.html#storylink=cpy

Rural Virginia pivots from coal to green jobs

An article by Nina Lakhani in The Guardian this weekend called “‘This is the future’: rural Virginia pivots from coal to green jobs,” is a must read, especially for those who still want to cling to a declining industry. The article can be linked to below. Here are a few salient paragraphs that will give you the gist.

“When Mason Taylor enrolled at the local vocational school with dreams of becoming an electrician like his dad, it was assumed that the ninth-grader would eventually end up moving away from Wise county, Virginia, to find a decent job.

Now 19, Taylor just bought a truck after a summer apprenticing with a crew of electricians installing rooftop solar systems at public schools in the county. He was among a dozen or so rookies paid $17 an hour, plus tools and a travel stipend, as part of the state’s first solar energy youth apprenticeship scheme.

The region’s long-awaited energy and economic transition will be substantially boosted by America’s first climate legislation, the Inflation Reduction Act (IRA).

It’s far from a panacea, but Joe Biden’s legislation provides $369bn for the transition to electric vehicles and renewable energy – a historic investment that scientists estimate will reduce greenhouse gases by 40% below 2005 levels by 2030 and ​​create an estimated 1.5m new jobs.

Decent well-paid jobs are desperately needed. In Virginia, coal production has declined by 70% since its peak in 1990, and much of what’s left is semi-automated. Those old jobs are largely gone and are not coming back.

The IRA provides ring-fenced money for training, innovation and manufacturing, as well as an array of tax breaks and other financial incentives to help consumers and businesses transition away from fossil fuels. And Joe Manchin, the conservative Democrat senator from West Virginia played a pivotal role in watering down – and then reviving – the legislation, directing billions of dollars to the economic revival of depressed coal towns.

‘It’s a game changer for rural and coal communities,’ said Autumn Long, a project manager for solar financing and manufacturing workforce development at the non-profit Appalachian Voices. ‘Renewables are a way to honour the region’s energy-producing legacy and be part of the 21st-century global energy transition. The IRA is a turning point.‘”

In my view, these efforts are about ten years overdue. I have been writing for several years now of the demise in coal jobs in our country as contrasted to the uptick in solar and wind jobs. If I knew of the demise, the elected officials in these coal states have had to have known. This would include the Senate Minority leader who hails from Kentucky, one of those coal states. The sun has always shined and the wind has always blown in those states.

Yet, they did nothing. They were paid campaign funds by coal manufacturers to do nothing and perpetuate the status quo. Whether people like him or not, the only 2016 presidential candidate who told coal miners the truth – in person – was Senator Bernie Sanders, who said your jobs are going away, but here is what I plan to do about it.

Now, at long last, more is being done about it. Solar and wind energy are now on par or better in production costs with coal energy. And, when you factor in the environmental, maintenance, trucking, and litigation costs, the two renewables beat the pants off coal. It makes little sense to build a new coal plant which will become obsolete before it is finished.

So, this new law is good news and we should give credit to this Congress and President for getting it done. It is better late than never, but let’s hope it is not too late.

https://www.theguardian.com/us-news/2022/sep/08/rural-virginia-pivots-from-coal-solar-green-jobs

Water crisis out west solicits water restrictions, but need more

Per an article presented on CBS News called “US West hit with water cuts but rebuffs call for deeper ones,” the federal government stepped in when seven states out west could not come to an agreement, as their water sources dwindle to less than 1/2, closer to 1/3 of their previous supply. The article can be linked to below, but here are a few key paragraphs:

“For the second year in a row, Arizona and Nevada will face cuts in the amount of water they can draw from the Colorado River as the West endures more drought, federal officials announced Tuesday.

The cuts planned for next year will force states to make critical decisions about where to reduce consumption and whether to prioritize growing cities or agricultural areas. Mexico will also face cuts.

But those reductions represent just a fraction of the potential pain to come for the 40 million Americans in seven states that rely on the river. Because the states failed to respond to a federal ultimatum to figure out how to cut their water use by at least 15%, they could face even deeper cuts that the government has said are needed to prevent reservoirs from falling so low they cannot be pumped.

‘The states collectively have not identified and adopted specific actions of sufficient magnitude that would stabilize the system,’ Bureau of Reclamation Commissioner Camille Touton said.

Together, the missed deadline and cuts place officials responsible for providing water to growing cities and farms under renewed pressure to plan for a hotter, drier future and a growing population.

Touton has said the additional 15% reduction is necessary to ensure that water deliveries and hydroelectric power are not disrupted. She was noncommittal on Tuesday about whether she planned to impose those cuts unilaterally if the states cannot reach agreement.”

The world has been facing a global water crisis for some time now. A couple of years ago, Cape Town, South Africa had a countdown to no water, which they staved off. And, Saudi Arabia, an oil rich country, is water poor, so the regime said Muslims could pray with sand instead of water. In the US, we are seeing pockets of water shortage with the western part of the country seeing the worst trouble. The shortage is exacerbated as seven states have competed for and cannot come to an agreement on how to reduce water supply.

In short, these states better get their act together. Climate change has only made the water crisis worse. Duke Energy wrote a report that projected on top of normal water loss when creating power due to steam dissipation that is not reconverted to water after the power is generated and evaporation from water reservoirs, they would lose an additional 11% of water due to climate change. This is an additional reason we need to move aggressively to sources of energy that do not require fresh water such as wind, tidal and photovoltaic solar energy. *

And, our industries, government and water users must alter our practices before it is too late. This relates to the type of plants that are used which need to be endemic to an area, to fewer golf courses, to less lawn watering, to less fracking for natural gas which uses an abundance of water, to less usage by people. People must do the part, but in a survey this week, many felt they could not make a difference. That is selfish and short-sighted. They better make a difference or they will need to have water shipped in or move.

In Miriam Horn’s book “Rancher, Farmer, Fisherman,” she notes a farmer said we need to grow crops that grow naturally to an area. They require far less water that way. The farm to table restaurants are nice in principle, but in certain places growing water intensive crops is less utile. These are the kinds of things we need to think about.

It really comes down to the following; water, air and food. We must nurture and protect these resources. And, when a fossil fuel company raises a stink, remind them of what Steven Solomon said in his book “Water: The Epic Struggle for Wealth, Power, and Civilization.” He coined the phrase “water is the new oil.” I first heard this phrase uttered by the CEO of Duke Energy at the time, before I read Solomon’s must read book. Now, why would a CEO say that?

*There are some solar installations that heat water to steam to turn turbines and generate power, but most solar installations use photovoltaic solar panels that harness the sun’s energy.

https://www.cbsnews.com/colorado/news/us-west-colorado-river-water-cuts-drought/

Company in New Hampshire knew of toxic poisoning and failed to act

Recently, I have written several posts about the poisoning in groundwater by companies who use these forever chemicals referred to by their acronym of PFAS. Dupont was highlighted in the movie “Dark Waters” about the true story surrounding their making of Teflon in a West Virginia plant, where they denied for years what they admitted knowing in their files. In short, PFAS (or per and polyfluorinated substances) “is a harmful manmade set of chemicals that don’t break down in the environment and can cause medical issues like some cancers if consumed enough.” See the fact sheet below from the CDC.

In an article in The Guardian yesterday by Tom Perkins called “‘They all knew’: textile company misled regulators about use of toxic PFAS, documents show,” we learned that Dupont was not the only company to hide the fact the making of and disposal of waste from their product was causing major health concerns in adults and children in the area. Here are a few paragraphs from the article that can be linked to below.

“A French industrial fabric producer that poisoned drinking water supplies with PFAS ‘forever chemicals’ across 65 sq miles (168 sq km) of southern New Hampshire misled regulators about the amount of toxic substance it used, a group of state lawmakers and public health advocates charge.

The company, Saint Gobain, now admits it used far more PFAS than regulators previously knew, and officials fear thousands more residents outside the contamination zone’s boundaries may be drinking tainted water in a region plagued by cancer clusters and other health problems thought to stem from PFAS pollution.

Saint Gobain in 2018 agreed to provide clean drinking water in the 65-sq-mile area as part of a consent agreement with New Hampshire regulators, and damning evidence suggesting it used more PFAS than previously admitted surfaced in a trove of documents released in a separate class-action lawsuit.

‘People are sick, there are really high cancer rates and people literally have died, so when you see what’s happening and the company acts like this – it’s really upsetting,’ said Mindi Messmer, a former state representative who analyzed the documents and sent them to the New Hampshire attorney general and state regulators.

Saint Gobain has denied wrongdoing. PFAS, or per- and polyfluoroalkyl substances, are a class of about 12,000 chemicals used across dozens of industries to make products resist water, stains and heat. The highly toxic compounds don’t naturally break down, and are linked to cancer, thyroid disease, kidney problems, decreased immunity, birth defects and other serious health problems. They have been called ‘forever chemicals’ due to their longevity in the environment.

Saint Gobain Performance Plastics’ Merrimack, New Hampshire, plant had for decades treated its products with PFOA, one type of PFAS, to make them stronger. The company released PFOA from its smokestacks and the chemicals, once on the ground, moved through the soil and into aquifers. Hundreds of residential and municipal wells pull from the groundwater.

Please look through the CDC Fact Sheet below. If you have not seen “Dark Waters,” please watch it as it shows how Dupont knew and covered up their poisoning of others, then was shown verified causal data from the largest sampling of people in a scientific study and reneged on an offer to help and then lost successive lawsuits before they settled the remaining cases in a class action. I am sure there are some theatrics in the movie, but over all the movie will disgust you that leaders of a company could be so brazen. And, stop using Teflon cookware as their poison resides within many of us if we did.

Companies must be held to account. Leaders must be held to account. And, it cannot be so rarely done, that they make a movie out of the effort. Rob Bilott, the attorney who fought Dupont and Erin Brockovich cannot be the only folks recognized for fighting these battles.

https://www.cdc.gov/biomonitoring/PFAS_FactSheet.html

https://www.theguardian.com/environment/2022/aug/05/saint-gobain-textile-company-toxic-pfas

Climate change bill may advance after all

Yesterday, The New York Times reported in an article called “Manchin, in Reversal, Agrees to Quick Action on Climate and Tax Plan,” that a Senate bill to help climate change may advance and be sent back to the House for a vote. Below is a link to the article following a few paragraphs.

“Senator Joe Manchin III of West Virginia, a key centrist Democrat, announced on Wednesday that he had agreed to include hundreds of billions of dollars for climate and energy programs and tax increases in a package to subsidize health care and lower the cost of prescription drugs, less than two weeks after abruptly upending hopes for such an agreement this summer.

The package would set aside $369 billion for climate and energy proposals, the most ambitious climate action ever taken by Congress, and raise an estimated $451 billion in new tax revenue over a decade, while cutting federal spending on prescription drugs by $288 billion, according to a summary circulated Wednesday evening.

The product of a deal announced by Mr. Manchin and Senator Chuck Schumer, Democrat of New York and the majority leader, it would reduce the federal deficit by about $300 billion, while seeking to push down the cost of health care, prescription medicines and electricity.”

Since we are in dire need to move forward the US federal government’s response to climate change matching efforts of cities, states and more than several companies, this is good news if it can get passed in both chambers. With places like Texas leading the way on wind-energy and California on solar energy, and offshore wind energy about to launch so we can match places like Scotland, we are poised to do even more. As an independent voter who has been a member of both parties, this is a positive sign.

Southwest US is bone dry requiring past due action

In an alarming article by Laura Korte of Politico called “The Southwest is bone dry. Now, a key water source is at risk” the severe depletion of its key water sources must be addressed in rather dramatic fashion. A link to the piece is below. A few select paragraphs follow:

SACRAMENTO — California and six other Western states have less than 60 days to pull off a seemingly impossible feat: Cut a multi-way deal to dramatically reduce their consumption of water from the dangerously low Colorado River...

A federal Bureau of Reclamation ultimatum last month, prompted by an extreme climate-change-induced drop in water levels at the nation’s largest reservoirs, reopens years of complicated agreements and political feuds among the communities whose livelihoods depend on the river. The deadline represents a crucial moment for the arid Southwest, which must now swiftly reckon with a problem that has been decades in the making.

Despite the oppressive dryness that has plagued the region for more than 20 years, California has, in large part, avoided reductions to its usage of the Colorado River. But now that reservoir levels have fallen drastically, the Golden State may be forced to use less water, a prospect that would only further strain a state that is already asking residents in some regions to stop watering lawns and take shorter showers.

Despite the oppressive dryness that has plagued the region for more than 20 years, California has, in large part, avoided reductions to its usage of the Colorado River. But now that reservoir levels have fallen drastically, the Golden State may be forced to use less water, a prospect that would only further strain a state that is already asking residents in some regions to stop watering lawns and take shorter showers.

California’s Imperial Valley, with its vast swaths of farmlands, uses more water than its neighboring water districts — and could be a target for much of the cuts. The state will also have to contend with water users in Arizona and Nevada, who face their own sets of limitations and internal pressures.

‘You can’t possibly overestimate how hard this is,’ said Felicia Marcus, a fellow at Stanford University’s Water in the West program and former chair of the California State Water Resources Control Board. ‘Each state has their own peculiar set of politics.

Over the past 20 years, as the effects of climate change have become more apparent, water authorities in their respective states have been able to hammer out agreements on moderate cutbacks. But it hasn’t been enough.

Supplies at Lake Mead and Lake Powell are dangerously low, holding just more than a quarter of their total capacities — and threatening the dams’ ability to generate electricity and provide water to its nearly 40 million users. At its highest level, in the 1980s, Lake Mead could have submerged the Empire State Building up to its top floor. Now, water levels have dropped by nearly 200 feet, or 20 stories, exposing a stark white “bathtub ring” around the rocky walls of the perimeter.

The new reality will force the region to shift away from a water source upon which it has relied for centuries, and, in some cases, make tough choices that are sure to ripple nationwide — such as whether to continue alfalfa farming for cattle feed or switch to more drought-hardy crops. The terms laid out in the coming weeks could offer a new blueprint for how America adapts to the increasingly-difficult realities of climate change.

Ignoring the disturbing projections for years has brought this crisis to an even dire level. The impact on multiple states has made it difficult to address, but also made the impact more pronounced. When Cape Town, South Africa about ran out of water two years ago, it impacted fewer people than this tragedy will. This is what is called a “burning platform” and in this case, there is no water to put it out.

https://www.politico.com/news/2022/07/06/colorado-river-drought-california-arizona-00044121

The real replacement practices

This concept of replacement theory where white workers are subject to a planned replacement by black and brown workers has been around for decades. In fact, the fascists in England were using this replacement theory in the early 1960s, of course, blaming Jews for its orchestration. In essence, the theory says white workers’ jobs are being systematically replaced by immigrants and those other people who don’t belong here. Sound familiar? Yet, this replacement theory well preceded the 1960s.

It is all subterfuge to create fear and blame others for your problems. Fear has been used to sell ideas and manipulate people for a long time. Overstating an inflammable cause is one way to do that. The fear of the other overlooks the deeper problems for loss of jobs and disenfranchisement. The key reasons for disenfranchisement are the actual replacement practices that we need to address. These are not some theory, but deployed routinely and recurringly in practice.

There are two key reasons, which impact all workers of all colors:

– technology improvements which reduce the number of workers needed, and

– CEOs chasing cheaper labor to lower the cost of production

The latter cause manifests itself in offshoring, outsourcing, or migration of factories. For example, the textile industry has left a trail of closed plants as the industry moved from England to the United States first in New England and then to southern states. Then in the 1980s, the heavy migration occurred to China and Mexico and eventually to Vietnam and Bangladesh searching for cheaper labor. One company that comes to mind went from 86,000 US employees in 1980 to about 4,000 today, with the rest abroad. That is not an isolated example and it is not just manufacturing work. It is call center, IT, analysis, etc. The US based insurance industry has been shipping claim forms for review to Ireland as the Irish were, on average, more literate than Americans, even before technology made it easier to get the Irish to review them.

The former cause has been occurring routinely as well, but has accelerated once again with the advancement in Artificial Intelligence (AI). Yet, a robot need not look like a humanoid to be effective. Computer driven machines and robotic appendages have evolved over time. I watched a “60 Minutes” episode about ten years ago, which demonstrated a programmable robotic machine that went for the price of a car to be used by small businesses. The tasks need not be complex to improve efficiency, so these cheaper machines could replace a half-dozen workers.

So, when you hear immigration is a problem, that does not address the main issues. Of course, the immigration system could be improved and opportunities to do so were not voted on after some agreement even by some of the most vocal critics. But, there are some industries and municipalities that need more workers. Those workers need to be trained or trainable, so some may come from abroad and some from here.

Where we need to focus our attention is working with new and old industries in transition and community colleges to train new workers. The coal industry has been on the demise for a dozen years, but some politicians have been clinging on to its protection. I have said several times, whether or not you like Senator Bernie Sanders, he was the only presidential candidate in 2016 to stand up in front of coal miners and tell them the truth – your jobs are going away, but here is what I plan to do about it.

In this vein, some towns are dilapidated by closed factories that moved. The forward thinking towns invested in bringing new workers from whereever they could. They developed initiatives to reinvest in the area using the brainpower of the new and old blood mixed together. They developed incentives to draw younger adults to their towns. And, it worked.

The issue of workers needing more opportunity and investment is where we need to focus our attention. This is a good example of a group of PR people coming up with an issue, blowing it way out of proportion as the problem, and putting it on a bumper sticker. “Build a wall” some might say as the panacea. Ironically, when the major proponent of that comment accepted a deal to get $25 billion for this wall in exchange for making DACA law, he was talked out of it. This was his number one issue, but he said no after saying yes. Why? He knew it would not solve the problems and his bluff had been called.

Our problems are complex and have multiple factors. One of the tenets of the book “Built to Last” by Thomas Friedman and Michael Mandelbaum is most of America’s major problems over time were solved in concert between some combination of government (federal, state and/ or local), venture capital, and private industry or philanthropy investment. We won’t solve our problems unless we identify them and their many causes. We won’t solve them by listening to opinion hosts and candidates who are trying to scare, who really don’t want to solve anything other than getting someone elected.

We will solve them by looking at the facts, coming up with a plan, getting buy-in and funding and making it happen. That is hard to put on a bumper sticker or define in a two-minute sound byte by an opinion host.

Offshore wind energy in North Carolina is taking shape

In an article by Adam Wagner of the Raleigh News and Observer called “Duke Energy among companies with winning bids for NC offshore wind energy,” North Carolina’s efforts to take advantage of its windy coast is taking shape. Per Wagner, “The Bureau of Ocean Energy Management’s 18 round auction netted $315 million for the wind energy areas, which are roughly 20 miles off the coast.”

The bids were won by two sets of companies, Duke Energy based in Charlotte and TotalEnergies Renewables USA. “‘Investments from two developers means an increased supply chain investment and recruitment, workforce development and thousands of good paying jobs and infrastructure development that will support other North Carolina industries,’ Katharine Kollins, president of the Southeastern Wind Coalition, said in a statement.”

The Duke Energy $155 million investment will help power 375,000 homes and help Duke meet its renewable energy goals. Most of its wind investments have previously been in Texas. TotalEnergies will produce electricity for roughly the same number of homes, as its investment was a little more than Duke’s. TotalEnergies has also won a bid for a lease just off the coast of New York and New Jersey.

The US has seen most of its wind energy on land in the plain states, with Texas leading the way and other states like Iowa, Minnesota, and Oklahoma following suit. The last statistic I checked said Iowa gets 43% of its electricity from wind. Texas is around 20%, but is a much larger state. I have referenced before deceased oil tycoon T. Boone Picken’s comment on “60 Minutes” about ten years ago when he said the future of energy in the US is in wind energy. Solar energy has taken off as well, but Pickens noted how windy the plain states and coast are.

Seeing this expansion off the coast of the US is exciting. Much of the offshore wind energy development has been in the North Sea off the shores of the Scandinavian countries and Great Britain. It is good to see this occurring in areas where it can help so many. NC has roughly 10 million people, so seeing investments that could power roughly 750,000 homes (doublnig the Duke share cited), reveals the size of the impact. Adding that NC is in the top five states in solar energy and our renewable energy future is even more promising.

Why I left the Republican Party

I made the following comment on Jeff’s blog which asked the question why would someone vote Republican? I have made some edits for clarity.

When I left the GOP around 2008 to become an independent, I had three principal reasons:

-the stance on climate change
-the unhealthy embrace with evangelicals and NRA
-the greater propensity to make things up

Republicans would typically see the last one and say both sides lie and they are right. But, it is not a normal distribution, being more heavily weighted to the right. And, in the age of Trump it has only gotten worse. I can argue policy with Democrats, but with Republicans I have to correct their misinformation (and sometimes disinformation).

I said this about ten years ago, but most Republicans are voting against their economic interests and have no idea they are. Poverty is not restricted to urban areas nor is it restricted to non-white voters, with more people in poverty being white. As an example, if the ACA was done away with, Republican voters would be harmed in great numbers. A picture pairing two sets of GOP voters speaks volumes. Note the picture refers to a wealthy GOP donor thanking the less wealthy and educated GOP voter who has been lured in by a values proposition.

And, what I find funny is the GOP is making such a big deal out of election protections based on the Big Lie perpetuated by Trump and his sycophants. Looking back to the Voter ID and gerrymandering bills that got passed in state legislatures since 2010, the GOP cheats far more than the Democrats do, although they both are prone to game the system. I have witnessed this first-hand in North Carolina with laws that were deemed unconstitutional and then rewritten to a retreating line in the sand level of acceptable cheating.

Yet, the issues that concern me are not getting enough airplay, as the focus is on perceived value propositions. If people are concerned about climate change, please do not vote Republican. If people are concerned with civil rights, please do not vote Republican. If people are concerned with healthcare access, please do not vote Republican. If people are concerned about voting rights, please do not vote Republican. If people are concerned with the environment, please do not vote Republican.

My former party used to tout being the party of values, law and order and fiscal responsibility. They do not check any of these boxes anymore. Lying is not a value. Rationalizing an insurrection caused by a Republican president is not lawful. And, increasing the debt and deficit just as much as Democrats do is hypocritical. But, in short, when the truth tellers are vilified and the liars are aggrandized in the party, that shows the party is untethered to the truth.

Democrats are not perfect, but I do not see the same level of lying and malevolence as I do under the GOP. Until the party leaders are told the truth matters and held to account, this won’t change. We must make them rethink this. Some of my Democrat friends disagree with this statement, but we do need a viable Republican party. What we don’t need is whatever this thing masquerading as the Republican party is. Truth must matter.

Good economic news per Jennifer Rubin and Wall Street Journal

In an editorial by Jennifer Rubin of The Washington Post called “Opinion: Biden gets an early Christmas gift: Good economic news,” she discusses the good economic news hearing into 2022. In excerpts below, she cites The Wall Street Journal and The Conference Board to support her claim.

“Presidents have some control over fiscal policy, but markets, the Federal Reserve and, yes, the state of the pandemic have a lot more say on how the economy is performing. Nevertheless, if President Biden can be bashed for bad economic news during his presidency (e.g., inflation), then he also should get some credit for successes. And right now, there is plenty for him to crow about.

Heading into the new year, the economy looks in better shape than Biden’s legislative agenda. The Wall Street Journal reports: ‘A booming U.S. economy is rippling around the world, leaving global supply chains struggling to keep up and pushing up prices. The force of the American expansion is also inducing overseas companies to invest in the U.S., betting that the growth is still accelerating and will outpace other major economies.

With a projected 7 percent annualized growth rate for the fourth quarter, the United States is running circles around Europe and China. That relative strength against the rest of the world, reflected in a strong dollar that lowers the cost of imports for U.S. consumers, matters greatly.

The economy grew 2.3 percent in the third quarter (higher than the expected 2.1 percent). Moreover, for all the talk of inflation and the pandemic, consumer confidence is through the roof. ABC News reports: ‘The Conference Board, a business research group, said Wednesday that its consumer confidence index — which takes into account consumers’ assessment of current conditions and their outlook for the future — rose to 115.8 in December, the highest reading since July.

…Furthermore supply chain woes are showing signs of abating. As Biden said at a meeting on Wednesday with his supply chain task force, “Packages are moving, gifts are being delivered and shelves are not empty.” He was also able to point to concrete steps his administration has taken to address the issue, such as obtaining the ports’ agreement to operate 24/7.

The full editorial can be linked to below. Rubin’s first point about presidents getting too much credit and blame for the economy is a good one. Yet, they do provide headwinds and tailwinds, usually a little of both. Biden’s predecessor inherited an economy that was in its 91st consecutive month of economic growth in January 2017 with six consecutive years of 2 million plus annual job growth. To his credit, it continued and was lifted some by a temporary sugar rush of the corporate tax cut in 2018, before falling back to previous levels after the sugar rush waned. Once the pandemic hit, all bets were off and we retrenched.

Biden and Trump invested in stimulus payments to get the economy going providing money to spend. And, it helped tide us over until more of us started working. Was it the best use of funds? Arguably. Some contended we should have provided the subsidies to employers to keep people employed. I would preferred to have seen that, as people would still be tethered to their job. The recently passed Infrastructure Bill will provide some additional tailwinds as would the Build Back Better bill that is still waylaid.

Inflation is of course a concern. Yet, politicos like to highlight bad news when their tribe is not in charge and lessen the focus on good news. In addition to the new COVID strain, what gives me pause is the stock market continues to remain at record high levels. The question is how long can it remain there? If you know that, you are way ahead in the game.

https://www.washingtonpost.com/opinions/2021/12/22/biden-gets-an-early-christmas-gift-good-economic-news/