I Wonder What You Think About
No economics or politics, political identity or cancel culture today. Just a remembrance of my sister. It will likely remind you of someone gone that you also loved.
To open this, click on “Susans poem” below.
A link may appear above/below that. If so, click on that.
You will see a ‘download’ pop up which reads “Susans-poem.doc”
Click on that to open and read it.
Enjoy.
SPIDER Bites
Scientists at National University of Singapore have found a vaccine to immunize cells against various influenza viruses. They were able to prove that a single shot immunization was able to trigger long-lasting immune responses that could protect effectively against multiple strains of the flu. It apparently works in lab mice. If proven by human clinical trials, a “universal” flu vaccine – that does not need to be updated annually – would be a breakthrough. It uses something called the M2e peptide sequence to generate immunity. That’s beyond my knowledge, (but much is) – including the complexity, efficiency, and resilience of the human body.
Before raising the interest rate last month, the Federal Reserve reduced its projection of 4.2% economic growth for the year to 2%. Under normal conditions a slowdown in economic growth would trigger a reduction in interest rates. But with inflation raging at nearly 8%, it raised the rate to slow it down. And it plans on additional rate hikes this year. But that will slow the economy even more. That’s what’s meant by being between a rock and a hard place. Economists call it stagflation – a lousy economic place to be. Our political leaders are oblivious.
A million barrels of oil/day over the next 6 months will be released from the country’s oil reserves, the President announced Thursday. The US uses 18.9 million/day and currently has 568 million in our Strategic Petroleum Reserve. So, we’ll use one-third of our reserves to supply 5% of our usage for 6 months. And if it works lineally, the average gas price may go down 20 cents, temporarily, to $4.06/gallon. But if crude oil continues its upward cost spiral, who knows? Putin made him do it, he had no choice, to hear the rhetoric. The reserve has never before been used for political purposes. Let’s hope we don’t need it for a real emergency.
Oh, companies owning oil leases that are not producing oil will be ‘fined’ (my word – they’re calling it a fee) as part of the announced release of oil reserves. These geniuses in the WH “know” these companies are “hoarding” – rather than making money. Three facts: 1) To obtain a lease, you must satisfy the requirements and regulations of 4 federal agencies – and pay this administration’s significantly higher cost for a lease; 2) Once you do get a lease you try to determine whether there’s oil down there. If it looks possible, you then drill exploratory wells to try to determine how much there may be and whether the expense is worth it. If all systems are go, you start producing maybe – after 5-10 years; 3) The Biden administration has put a “pause” on new leases. Now, add a fine. Do you want to drill in the oil rich US?
President Biden unveiled his proposed budget for fiscal 2023 (beginning October 1) last week. It’s a ‘whopping’ $5.8T – almost 30% of current GNP. The major proposals include personal and corporate tax increases and removing all tax incentives to develop oil and gas production. Meanwhile commoners are paying through the nose for “climate change,” while fossil fuel production countries go to the bank. It makes perfect economic, err, moral, sense. Right? But it’s hard to spend morality, isn’t it?. Meanwhile, the fastest growing number in the budget is interest on the national debt.
Two years ago, the CA legislature passed a bill creating a Task Force to determine the people to whom the state should make ‘reparation’ payments. The Task Force voted last week – 5-4 – to limit reparation payments to black people who can trace their lineage to enslaved ancestors – as opposed to all black people. What do citizens of today owe anyone for slavery which many of their ancestors fought a bloody Civil War to eliminate in this country? Are all born white people supposed to feel guilty now? I don’t.
