I saw an article on Naver where electricity is supposed to go up 10% by May in South Korea, with gas going up 16%. The article in Korean was in the Korea subreddit.
With input costs going sky high here in Asia, it looks very inflationary for the American consumer, no matter what American decision-makers decide. I think large items like freezers, fridges, stoves and so on will especially go up in price drastically considering how relatively few can fit in an ocean container.
I love your blog, been reading it since the ’08 crisis. Have a very happy, healthy, and wealthy New Year, M.I.S.H. and everyone!
Zardoz
2 years ago
Neither side can gain power without catering to their kooky fringe. This is the real tragedy of the 2 party hegemony.
You could be right, Zardoz, however it is the kooky fringe on the left–including the rapidly-growing welfare class–that is so easy to cater to. Just offer or promise more free stuff, and warn that the Republicans will take it away.
The right wing is even easier. You can get them to participate in a failed coup, refuse to pardon them, and let them rot in jail, and they’ll still follow you like Moses.
You can lie to them, and even take things away from them, as long as you tell them you took it away from the gays or the ethnics.
It’s got me seriously considering starting a right wing cult for profit.
RonJ
2 years ago
“E.P.A. Announces Tightest-Ever Auto Pollution Rules”
I don’t think the presidential limo gets anything close to 55 miles a gallon.
The Pope isn’t complaining about vehicle gas mileage.
thimk
2 years ago
Top 5 reason executive orders are bad. (Truman tried to seize the steel industry ) . how can an economy run under conflicting/changing 4 year parameters? Random pick of illustrative content sites . I could also add the keystone pipeline .
Check out the video of the Finnish guy who blew up his 2013 Tesla rather than pay $22,500 for a replacement battery pack. How much would you pay for a used Tesla that would cost you another $22,600 (plus a tow to a dealer) before you can drive it?
The Finn who chose to blow up his 2013 Tesla Model S might challenge that 300k miles life. Tesla warrants 8 years and, depending on the model, 100k, 120, or 150k miles for the battery to maintain 70% of its maximum charge. The blow up video and its accompanying text don’t say how many miles it had, although average automobile use in Finland is about 12,000 miles which is similar to the U.S. My 2000 Subaru has 230k miles; 2002 Audi has 115k miles; 2014 Ford Explorer has 90k miles. All start up and run plus have essentially the same cruising range as they did when I bought them new.
I’ll believe the average Tesla battery lasts 300k miles when I see it. All the stats I’ve seen suggest less, and a LOT less for some other brands which lack the active battery cooling of Tesla batteries. Like pretty much all battery powered devices, electric cars’ weak point is the battery. Will the $$ Billions being spent on solid state battery research change that? We can only hope that day comes in time to save us from 55 mpg CAFE rules!
So you know nothing about the car, but you are convinced of your conclusion.
This is what Dunning Krueger feels like.
JeffD
2 years ago
There’s a movie on Netflix called “Don’t Look Up” that explains the situation perfectly.
Felix_Mish
2 years ago
Saule Omarova: “Say what you will about old USSR, there was no gender pay gap there”
Or, so they say. And who could possibly doubt Soviet economic statistics?
Besides, say what you want about the American prison system during the Cold War, but didn’t those prisoners have no gender pay gap like their peers, citizens of the Soviet Union?
If that quote weren’t apparently in-context and really from Omarova, I’d think the quote was the usual BS from the media.
On the other hand, if it’s representative of her thinking, well, who, exactly, has an interest in putting someone with her level of naivete in a decision making position? I smell a rat.
No one in the Biden administration would notice that smell, Felix. Do rats ever smell rats?
TexasTim65
2 years ago
It’s easy to legislate 55 mpg cars when there are essentially no more cars made by the big 3. It’s all trucks and SUV’s now so passenger car mileage doesn’t really matter anymore other than for foreign auto makers.
Obviously none of the auto makers is going to get within a country mile of 55 mpg in 4-5 years time unless they stop making all car models other than a micro smart car. If they do that, then the only thing that will get sold is SUV’s and trucks.
The CAFE rules apply to all passenger vehicles. Early on, the truck based SUVs were not part of the calculation, but that’s been changed. One thing is certain, if a 2026 model car has to get 55mpg, there just won’t be many 2026 model gas automobiles. That might make your 2025 and older model worth more on the used car market. I can’t find how a company’s electric cars figure in the CAFE calculations (just spent 20 minutes and gave up), but if an electric counts as, say, 100mpg, then for each Suburban, Chevy needs to sell a Bolt. Or maybe GM could just buy Tesla–if possible, since the market cap of Tesla is already probably more than GM.
Greggg
2 years ago
Saule Omarova: “Say what you will about old USSR, there was no gender pay gap there”
I remember an old Russian meme too: “We pretend to work, and they pretend to pay us”.
whirlaway
2 years ago
Biden has come to realize that the era of Reaganomics is over, leaving behind all this wreckage. But I don’t trust him to do anything substantive about it. He has been instrumental in voting for, and personally crafting, many of the horrors of the neoliberal era.
I suggest Biden isn’t really in control anymore and probably never was. He’s a literal figurehead of the party now that is 100% run by behind the scenes people like Warren and other progressives as Mish and countless others have acknowledged.
There never was any chance of him doing anything substantive because if he was that kind of political figure he would have managed to do something in his 50 years of service.
The only thing he’s doing is enriching his family name. I’d love to see the before-after presidency net worth of Biden. Obama’s skyrocketed and I expect his to do even better given his 10% graft.
“… that is 100% run by behind the scenes people like Warren and other progressives…”
LOL. How I wish that was true! Well, if it is indeed true, how come these progressives folded like a cheap tent and allowed the infrastructure bill to be passed without any guarantee that the BBB would be passed as well? That’s what they (feebly) insisted on in the beginning before they eventually got steamrolled by the establishment and the so-called moderates.
So you know nothing about the car, but you are convinced of your conclusion.
LOL. How I wish that was true! Well, if it is indeed true, how come these progressives folded like a cheap tent and allowed the infrastructure bill to be passed without any guarantee that the BBB would be passed as well? That’s what they (feebly) insisted on in the beginning before they eventually got steamrolled by the establishment and the so-called moderates.