Monday, January 15, 2024

A Tale of Two Years & Two Worlds

 This post is sponsored and authored by Bigger Pie Forum. 

Charles Dickens put it well 165 years ago, “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity…” This is an apt metaphor for the stock market and the world in 2023 and perhaps for 2024 as well. 

Last year saw seven magnificent technology stocks promising glorious productivity gains from Artificial Intelligence (AI) lead the S&P 500 to dramatic double-digit returns. But 2023 also saw 2 of the 3 biggest bank failures in U.S. history, as rapidly rising interest rates kneecapped many lenders and borrowers. The Federal Reserve’s quest to quell inflation with higher rates proved a serious headwind for banks and real estate investors. That and other risks of 2023 were addressed by highly regarded bank CEO Jamie Dimon in his November earnings call, “This may be the most dangerous time the world has seen in decades.” Dimon is a serious guy and his bank, JP Morgan, is the biggest bank in the world. His concerns as the world’s most prominent banker wasn’t merely interest rates but also global conflicts in Ukraine and the Middle East, their potential impact on global trade, critical markets such as food and energy, and the rising threats to fragile geopolitical relationships.

AI is a big deal and may be the ‘next big thing.’ For sure it is a great advance that, in time, will transform many industries and sectors of the economy. But it is not clear yet who will best monetize those advances and turn them into big fortunes. Scaling up disruptive technology takes time and transforming the economy takes even longer. The lithium-ion battery was invented in the 1980s but it took 20 more years for it to make your smartphone last all day. Multiple hot wars in Europe and the Middle East on the other hand could metastasize into chaos and calamity before you know it. To quote Vladimir Lenin, “There are decades where nothing happens and there are weeks where decades happen.” The risks of global conflict in Europe and the Middle East are very real and extremely hard to calculate. The damage and destruction would easily surpass the younger generations’ wildest imagination.

Another 2024 issue that challenges the developed world economy is the most extensive and expensive industrial project since the ramp-up by Allied powers to confront and defeat the Axis powers in World War II. This project is the UN’s plan to reach net-zero CO2 emissions by 2050. The quest to transition the world’s energy, power and electric grids away from fossil fuels to net-zero renewables is fraught with peril and already crippling many sectors of the European economy.

Low cost, reliable electricity is something people in the developed world take for granted.  We can’t take it for granted anymore. Everywhere you look, both here and abroad, the embrace of wind and solar power has resulted in significantly higher electricity prices.

And what’s more the, U.S. electric grid is already under stress trying to meet the voracious appetite for power of the Cloud. Data centers are growing 10% annually to meet the 16% growth in Cloud services, and AI Computing is just getting rolled out. Google estimates that adding AI to its ‘search’ feature increases the power cost by 400%.

The Cloud and AI will add electricity demand for years to come and yet we have bureaucrats and politicians that want to source the power for America’s mobility (cars and trucks) from that same ‘under duress’ electric grid. Going Net-zero emissions in some distant year is an easy claim for political candidates to make, however none of them have a plan of action or a plan for funding to cover the trillions of dollars it would take to double or triple the country’s electricity generation, transmission and distribution capacity by 2035, 2050 or whenever. This is the unstoppable force of political mandates meeting the unmovable force of regulators and permitters. It is a recipe for apocalypse.

On demand, reliable, low-cost electricity is one of the great advances in human history in improving quality of life and enabling human flourishing. Transitioning our electric grid is a very serious matter. The transitions being proposed are risky to our country and its place in a turbulent world.

 

6 comments:

Anonymous said...



Clowns-

Anonymous said...

Of course, they’re not trying to change the way you think. They’re only trying to inform you all friendly-like. And always remember, the bigger the pie, the more room there is to fill it with even more bullshit.

Anonymous said...

I appreciate you posting this article. Americans better open their eyes and see where we are being lead. I'm old now, but I have grandchildren that I want to enjoy the benefits that I helped build. Contrary to what that ungrateful clown Obama said, we did build that.

Anonymous said...

Nuclear energy is our only real hope. Yet, we fear and tremble and cling to coal.

Sunshine Disinfector said...

This is really what the monopoly utilities and the greedy oil and gas industry and their apologists fear. WHERE NO ONE PAYS AN ELECTRICITY BILL. Don't buy the big lie that renewable energy is bad...it's just bad for their obscene profits and price gouging. Go solar; you'll never go back to the belching, stinking, poisonous fossil fuel. https://www.northsidesun.com/opinion-editorials-local-content-top-stories-state/opinion-where-no-one-pays-electricity-bill

Anonymous said...

Thank you 7:01 @ 10:47 (for your nonsense). Tell everyone at Millsaps hello. Keep those bicycle tires properly aired.


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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


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Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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