Do Californians Know They Live in A Desert?

Part of climate change hysteria is driven by Americans who live in deserts and don't know it. SF Chronicle: Mono Lake was supposed to have been saved from going dry. Now, the ‘white stuff’ forces a reckoning

The drought bearing down on Mono Lake and the rest of California picks up on a two-decade run of extreme warming and drying. It’s a product of the changing climate that has begun to profoundly reshape the landscape of the West and how people live within it.

Nope. You live in a desert.

Phys.org: Ancient Southwest marked by repeated periods of boom and bust

This is particularly important as droughts of just five or ten years were enough to prompt major shifts in the small niches where Pueblo people grew maize, their major crop.

The niches, said Kohler, were "woven together with a web of ceremony and ritual that required belief in the supernatural" to ensure plentiful rain and good crops. When rains failed to appear, he said, the rituals were delegitimized.

"Then there's a point where people say, 'This isn't working. We're leaving,'" he said.

That starts a period of exploration in which people look for new places to live and develop new ways of living, followed by a period of exploitation in a new niche with different behaviors and values.

"There's a new period of wealth creation, investment in architecture and culture change," said Kohler.

The researchers said the first period of exploitation, known as Basketmaker III, took place between 600 and 700 A.D. It ended with a mild drought and was followed by a period known as Pueblo I, in which the practice of storing maize in underground chambers gave way to storage in rooms above ground.

The researchers think this represents a shift from unrestricted sharing of food to more restricted exchanges controlled by households or family groups. The period ended around 890 with a slightly larger drought.

The exploitation phase of the Pueblo II period ran from 1035 to 1145 and was marked by large shared plazas and great houses—what we would today call McMansions—in the Chaco Canyon area south of Mesa Verde, Colo.

"We're talking some of the largest—actually, the largest—prehistoric masonry structures in North America north of Mexico," said Kohler. "These things are huge."

Wood for roofs had to come from 50 to 75 miles away, requiring an unprecedented level of coordination. The mix of large and small buildings also suggests a more hierarchal social structure with someone in charge.

Climate change is a big deal when you live in a place that has adequate rainfall and water supply for a few hundred years and then turns into a dry desert. Ignoring the reality of this cycle moves a society from one in deep trouble facing serious climate problems to one that exterminates itself with energy and economic policies that facilitate mass distribution of Darwin Awards.

Cycles Say Climate Trouble Coming

Weather volatility is only going to increase, and soon, with a 100-year drought setting in for the U.S. Midwest in 2024-25.

Real Vision interview with Shawn Hackett: Why Weather Will Be the Greatest Disruptor

Climate Scam: Greens BTFO'd in 1-Minute

It's all fake folks. The whole damn thing, from ESG to the rest. The modern political world is built upon lies all the way down. The only thing to do is maybe let the scam go on a little longer to hijack it for nuclear power, which otherwise faces public resistance. Then once the nukes are being built, reveal it was all a scam. But oh by the way, we now have energy independence and enough power for the next century of development.

Known Versus Unknown & Brandon in the Bunker

All the way down in the first half, at least until April or so, bullish investors were saying "everything is priced in." Day after day I would see sentiment indicators showing extreme bearishness. I ignored these because the market was not bearish, precisely because these bottom callers were constantly coming out of the woodwork. Additionally because they were almost always using data sets that only covered the previous bull market. 

"Everything is priced in" also doesn't work when mood changes because nothing is priced in. At the peak of the Nasdaq in November 2021 and S&P 500 Index in early January, nothing was priced in. When mood changes, the news flow turns negative. Not only is bad news not priced in, but more bad news is coming, day after day, week after week.

If a larger rally unfolds this summer, it will happen because two conditions will be satisfied. First, investors are sufficiently pessimistic such that they've priced in much worse news than is coming. This upcoming earnings season could be that. I wouldn't bet on it, but it is possible. Evidence would be provided by a bad earnings report by a major such as Apple resulting in a gain in the stock price. The other catalyst will be actual positive news, be it a Fed pivot (likely positive in the short-term only) or legitimately good news such as peaceful developments in Ukraine.

The downside scenario is that the market simply doesn't understand how bad the situation is here and ever more negative news continues rolling out. There's some risk there with Western governments behaving like Hitler in the bunker. The Biden admin has modeled for $200 oil and $10 gasoline, which would unleash a depression the likes of which hasn't been seen since the 1930s. I think that outcome is unlikely, but I also see no sign that the government cares in the slightest. These are the same people who did the lockdowns after all. Assuming they're sadistic people trying to maim and kill their own citizens has been a fairly good predictor of their policy choices. Becoming too political with economic and market forecasts is always a losing move, but then I've never in my life or U.S. history seen a government this destructive. I assume at some point they'll cry uncle on some issue, but they haven't yet. Here's the latest headline: Biden proposes limited drilling leases off Gulf of Mexico and Alaska

Administration officials said fewer lease sales — or even no lease sales at all — could occur, with a final decision not due for months.

The most bearish thing about the markets and economy right now is the Biden administration. They are making everything far worse than it needs to be. I honestly thought they would have done something positive by now, thus I've been moving "USG doing something good" from the unknown column to the known column, but in the negative.

What is Modern Conspiracy Theory?

My view of modern conspiracy theory is that is more of a orientation than a specific plot. "Conspiracy theorists" don't necessarily believe in specific conspiracies (although many believe in them all) as much as they believe there is an overarching conspiracy to some degree. A quick example: I don't believe in weather modification conspiracies. I don't think the technology exists. Cloud seeding exists. Weather experiments, even extreme attempts like HAARP might exist (although I don't believe that HAARP was a weather project), but they aren't successful. Natural history and cycles of climate explains everything weather related. 

Are a global elite plotting world government and takeover via claims about climate change? Absolutely. Are they faking the weather to do it? No, because it's not necessary. They have fooled the world with "science." Many "conspiracy theorists" believe in ludicrous conspiracies and ideas, sometimes to their own detriment. Yet this doesn't invalidate their general knowledge of a nefarious plot at work.  

Most of the "overarching narrative" of conspiracy theory is open fact. The Club of Rome, Agenda 21 and various other books and public discussions going back to the Fabians and writers such as Aldous Huxley and Isaac Asimov have existed for more than a century. Science fiction writers openly promoted global government, rule by the scientists in their books. Elites have discussed "problems" such as overpopulation for decades. I put problems quotes because one of the tricks of the trade is to take something that in extremis is obviously a problem, but isn't actually a major problem. As they do with CO2 emissions and the novel coronavirus.

In sum, I'm a believer in the weak form of conspiracy theory. It's an open, self-organizing conspiracy. It moves very slowly. Like one of those optical illusions that show a 3D image if you stare through it, it looks like a bunch of dots, a jumbled mess, if you don't know what you're looking at. At every step of the way, you're a "kook" for saying this is a conspiracy or part of a larger plot. Only by looking at the whole picture, the shift in policies over decades, can one see the sum total of it.

Vox Day is a strong form believer. In They Called Their Shot he writes:

It doesn’t really matter if the satanic elite of Clown World are divinely bound to announce their intentions or if they are simply narcissistic psychopaths who revel more in the knowledge that they are getting away with their wicked deeds than they do in the deeds themselves, the simple fact of the matter is that they do announce their future intentions, albeit always in a manner that provides them with plausible deniability both before and after the fact.

This X-Files episode is not an accident. This is not an astonishing coincidence. This is how, and why, it is relatively easy to interpret current events utilizing well-informed conspiracy analysis. Even when this episode was first broadcast, I immediately noticed the expositional clumsiness and contemplated the possibility that it was blown cover as cover, although I must admit that I forgot about it as time passed. But it was not the only such announcement. This habitual revelation under the cloak of fiction is another reason why anyone who submitted to the vaccine – which I will remind you was relentlessly pushed by international corporations and global depopulationists – was not only blitheringly stupid, but required almost wilful ignorance to do so.

We were warned. We were repeatedly warned. And I can assure you, it vastly amused the wicked of Clown World to see how many of us flat-out refused to believe their repeated warnings. The truth really is out there.

In the end, it doesn't matter if the writer of the X-Files was compiling the openly available information for the show or if it was more of an intentional announcement of future plans. The fact is that, as Vox says, the truth really is out there.

His post was based on the series finale of the X-Files, aired in 2002. Conspirators infect the public with a DNA-altering substance that disables their immune system, rendering them vulnerable to all manner of illnesses. In the show, it was done via the smallpox vaccine and assumed to be heritable. In 2020, govt/media nurtured mass hysteria. Inconvenience created by travel and work restrictions caused hundreds of millions of people to infect themselves with experimental mRNA shots.

Depopulation is a stated goal of a major faction of the ruling class. Feeding children hormone blockers eliminates reproduction. Feminism ("working mothers") reduces fertility. Making real estate more expensive, making life in general more expensive, depresses fertility. Abortion reduces the population. Contraception reduces fertility. Urbanization reduces fertility. Are all these policies part of a vast conspiracy? No, but the faction of the ruling class that wants depopulation greatly encourages all of these ideas. Drawing the line between what is intentional and happy (for them) coincidence is a mostly pointless exercise. A more useful question is, what wouldn't they do? Would they pump a deadly or fertility-reducing agent into the general public? Strong-form conspiracy theorists think yes and most if not all of them didn't get the mRNA shots. I didn't get the shots because I thought the risk/reward didn't make sense. I assumed the shots were riskier than advertised and the virus less dangerous.

Other conspiracy theories are ideas such as the "mark of the beast." No one will be able to travel or shop without the mark. I remember seeing that one in the late 1980s or early 1990s on some religious show while flipping through channels. A microchip would be needed to shop or travel. China and other nations have fully implemented this with vaccine passports via smartphones. Religious people and those who read the Bible are more likely to believe in conspiracies because they believe the Devil exists.

Maybe foresighted people saw the natural progression of technology. Through storytelling, they explained how easily this technology could be abused. Combine it with stated goals of groups like the Club for Rome, it isn't hard to theorize what someone who believes X might do with technology Y or power Z. Someone with evil intent will always be looking to use power and technology for their own ends. The 2nd Amendment exists in the United States because the Founders understood all governments tend towards tyranny. It was put there because they knew their Posterity will probably need it one day. 

I worry that the blockchain will eventually become a system for totalitarian economic control. One blockchain to rule them all, and in the chains, bind them. There are groups out there already deplatforming political dissidents from banks. Researchers at Stanford (marinate on that phrase for a moment) are already discussing how this deplatforming isn't thorough enough because the banned are building their own platforms and companies, from which they cannot be deplatformed again: Gabufacturing Dissent: An in-depth analysis of Gab

Our findings document several unintended real-world side effects of the deplatforming of both users and platforms, raising the possibility that other interventions on mainstream platforms such as downranking and limiting visibility might curb toxic content more effectively than shifting the problem elsewhere. If deplatforming is deemed the most desirable solution for a given scenario, it may be that this deplatforming would need to be more thorough and widespread to be effective. Hence, more study is needed in several areas...

...For example, payment processors have already cut ties with Gab—is there more that could be done to disrupt other financial flows? Answering these questions may prove crucial to developing more holistically effective Trust and Safety practices at the platform, infrastructure, and regulatory levels.

I can explain it to you, but I cannot understand it for you. It's all being done in plain sight. You can either accept it or not. You don't have to become a "conspiracy theorist." Maybe it's all a general decline in civilization, the historical cycle with democracy collapsing into tyranny. Once you see the trend though, you'll see all the evidence in the news, in the proposed policies, in the propaganda. Some highly-placed people and organizations are helping this all along. It doesn't matter how much you believe in the intentionality of it at that point, you are a "conspiracy theorist" because you can see that events are linked. That a larger force is at work.

via GIPHY

What It Means to be Green

This is peak Green policy. Many people were tricked by science, business and government. Tell your friends to stop being useful idiots. There is no pure or true green policy. This was the plan all along.

FJB Green Swan: Gas Prices Explode to New All-Time High

Gas prices are 20 cents away from rising 100 percent this year, and the year is not half over. Since gas prices went up 20 cents in the past 5 hours, a doubling in gas prices could happen as soon as later today! (Don't think it will but wouldn't bet on it.)

Don't Build a Megalopolis in a Desert

California has been a desert for most of its history. The aberration is the climate that has existed the past few hundred years. In terms of policy, there has been zero consideration of water supply.

Yahoo: California regulator rejects desalination plant despite historic drought

California regulators on Thursday rejected a $1.4 billion desalination plant on environmental grounds, dealing a setback to Governor Gavin Newsom, who had supported the project as a partial solution for the state's sustained drought.

The California Coastal Commission voted 11-0 to reject the proposal by Poseidon Water, controlled by the infrastructure arm of Canada's Brookfield Asset Management, to build the plant on a low-lying coastal site at Huntington Beach, near the town of Costa Mesa, about 30 miles (50 km) south of Los Angeles.

The plant was designed to convert Pacific Ocean water into 50 million gallons (189.3 million liters) of drinking water a day.

That is enough for 400,000 people, but the plant would use a process that staff experts at the commission said would devastate marine life and expose the plant to future risk of sea level rise while producing expensive water too costly for low-income consumers.

The state isn't in a sustained drought. It is in a desert. There isn't going to be any low cost solution.

Maybe this plant was a bad idea in this location though. The state is dumb enough to have that high-speed rail boondoggle ongoing, so it's better to assume policy is like an episode of Three Stooges with bad ideas all around. Looking at it from a distance and knowing what I know of the state, Californians don't want a plant on their coast. A large component of environmetalism there (and everywhere to be fair) is NIMBYism. Perhaps they should negotiate with Mexico for a plant there and pipe desalinbated water into the United States.

Putting a climate change label on this post because California's climate is changing, albeit predictably and not because of anything man has done. The water shortage is manmade though, because California didn't plan for it. Instead, they did as they are doing with electric cars, they ramped up demand (via mass migration across the border) while at the same time supply of water was in decline.

Assume Everything is a Psyop

Scary Mommy 2020: From A Doctor: We Need To Talk About Gas Stoves And Indoor Air Pollution

E&E 2022: N.Y. governor backs nation’s first statewide gas ban

Scary Mommy 2022: Researchers Are Ripping The Gas Stoves Out Of Their Houses For Their Kids’ Health

The anti-nuclear movement caused the most climate destruction over the past 40 years by permanently damaging nuclear power. From the same well of stupidity came anti-coal, anti-oil and anti-gas movements, some of them funded by Russia (the irony is *chef's kiss*). Economic mistakes of the past 50 years were repeated. Nw teh two are fusing into food and energy supply problems.

The big mistake America made was psyopping itself on equality. People are equal to the extent we all have a right to be treated equally under the law and to make our own choices. You do not let stupid, emotional and irrational people have political power though. Since everyone is irrational to some degree, political power should be strictly limited as the Founders intended. Instead, modern American went "communist" and lets people who will rip stoves out of their homes, wear useless cloth masks and fall for fake and lame "Red Scares" make decisions for all of society. Or more to the point, these people allow the modern authoritarian technocracy have a fig leaf of legitimacy.

Meet the Biden DHS national head of censorship, America. Please DO NOT RT this video as it may upset your new internet overlords pic.twitter.com/FoEKlEmziH

— Jack Posobiec 🇺🇸 (@JackPosobiec) April 29, 2022

Who is this woman? She's the head of the Ministry of Truth:

DHS is standing up a new Disinformation Governance Board to coordinate countering misinformation related to homeland security, focused specifically on irregular migration and Russia. Nina Jankowicz will head the board as executive director. She previously was a disinformation fellow at the Wilson Center, advised the Ukrainian Foreign Ministry as part of the Fulbright Public Policy Fellowship and oversaw Russia and Belarus programs at the National Democratic Institute.

If you are red-pilled you see that resume and immediately know you're dealing with a professional liar. All the worst people in the American govt have been involved with "helping" Ukraine and working against Russia the past 10 years or so. Now they've created something straight out of 1984 to silence all political dissent.

Climate Lockdowns Coming

The Guardian: Heatwaves at both of Earth’s poles alarm climate scientists

Startling heatwaves at both of Earth’s poles are causing alarm among climate scientists, who have warned the “unprecedented” events could signal faster and abrupt climate breakdown.

Temperatures in Antarctica reached record levels at the weekend, an astonishing 40C above normal in places.

At the same time, weather stations near the north pole also showed signs of melting, with some temperatures 30C above normal, hitting levels normally attained far later in the year.

At this time of year, the Antarctic should be rapidly cooling after its summer, and the Arctic only slowly emerging from its winter, as days lengthen. For both poles to show such heating at once is unprecedented.

Unprecedented means unrecorded. There are times when the Northern USA is warmer in winter than the Southern USA, does that mean Earth is flipping over or the climate is inverting? Of course whether this is a fluke, or a trend, and whether is it serious or not is overshadowed by the fact that scientists are paid to create terror among the public. Terror that can translate into totalitarian, authoritarian global government.

“The warming of the Arctic and Antarctic is cause for concern, and the increase in extreme weather events – of which these are an example – is a cause for concern as well,” he said. “The models have done a good job projecting the overall warming, but we’ve argued that extreme events are exceeding model projections. These events drive home the urgency of action.”

Yes, these headlines certainly do make me think we need some urgent action, but not in the direction they are intending.

Adios EV Transition

This is exactly how inflation plays out. It isn't some even, smooth transition. The lying and foolish scum who created this mess will blame Russia, speculators, the pandemic, greed, sunspots, astrology, whatever absolves them of blame. There is a move to the exits from equity and bond markets. This is what it looks like when the flows get a little lopsided.

ECB Should Hook Printer Up to Furnace

The Green Scam

Nuclear, coal and oil are cheap. The latter two cannot be bought by ESG funds, while some can buy nuclear.

ZH: Yachts To Be Exempt From EU's Carbon Pricing Plan

If there is anyone still confused why ESG, and the entire "green" movement is one giant, boiling cauldron of lies, hypocrisy and fraud, read on.

Last summer, we reported that the European Commission - that murder of career bureaucrats - has proposed exempting private jets, the one most polluting form of transportation, from the planned EU jet fuel tax. A draft indicated that the tax would be phased-in for passenger flights, including ones that carry cargo. Private jets will enjoy an exemption through classification of "business aviation" as the use of aircraft by firms for carriage of passengers or goods as an "aid to the conduct of their business", if generally considered not for public hire. It gets better: a further exemption is given for "pleasure" flights whereby an aircraft is used for "personal or recreational" purposes not associated with a business or professional use.

This is odd because a recent report found that private-jet CO2 emissions in Europe rose by 31% between 2005 and 2019, with flights to popular destinations up markedly during summer holiday seasons. So if Europe was truly concerned about curbing CO2 emissions it would ostensibly go after some of the biggest culprits... but no.

Of course, since it is mostly billionaires and the ultra wealthy that fly private, and these same billionaires and ultra wealthy tend to be exempt from regulations (which are usually written by politicians that the ultra rich have previously bribed or bought) that apply to the rest of the peasantry, this was hardly a huge surprise.

Which is why we doubt that the latest news showing just how pervasive the "green" hypocrisy is, will also come as a surprise.

The entire green movement is, for anyone who remembers the Cold War, a communist scam. The pro-Soviet, anti-American forces dumped their red for green in the 1990s. The same goals of global government morphed into climate activism and neosocialism, the control of corporations and private citizens through private forces. Twitter and Google are the fruit of these labors. The reason why China and the West look so similar is that the Western ruling class is aping the more formal socialism of the CCP. The Chinese communists do it far better because they're not at war with themselves for starters, but also hit "peak insanity" during the Cultural Revolution and have been moving away from pure ideology ever since. In contrast, the Western ruling class, the Baizuos, become more insane by the day. If "climate change" includes everything in the movement, including all the propaganda, then it is 99-percent false. There is human impact on climate (including concrete), but it can be solved with nuclear energy and some regulations. At the heart of the green movement as it exists today is pagan, anti-God, anti-human nature worship and Satanic forces that had previously assembled under the banner of communism.

Long the Dollar, Short the Euro and Yen

Here's the chart of the yen and crude oil I posted earlier. Simple argument: Japan's balance of trade weakens under inflation.

The core of the Eurozone is Germany. That country is trashing its energy market which will ultimately drive up demand for imported replacement energy.

Watts Up With That: “Slow Disaster Playing Out” As Germany Moves To Shut Down 8.5 GW Of Baseload Nuclear Capacity

Insanity.

Poor Chinese Farmers Exploited by the Solar Scam

The alternative energy scam in a nutshell. While this story has more nefarious characters, many alternative projects are money losing disasters the moment the market wakes up to the dearth of real capital and imposes market interest rates again. Many bosses will suddenly disappear when the music stops.

iFeng: 困在光伏里的农民：免费的阳光为何让我欠了银行20万？

His initial knowledge of photovoltaic power generation came from news reports on the Internet and on TV. He felt that this thing was high-tech and promising, so when the salesman used the A4 paper-sized contract terms, Li Guimin didn't look at it. Under the instructions of the salesperson, he signed the name in the blank space. .

The next day, the sales staff and people from the credit union came to Li Guimin's house and took out a loan of 200,000 yuan.

It was not until half a year later that Li Guimin realized that the situation was not good. The salesman said that "photovoltaic panel power generation is sufficient to cover loan interest", "even when the weather is bad, the power generation is insufficient, the company can compensate for the price difference" and other promises will not be honored after a few months of fulfillment, because The boss of the photovoltaic company ran away. The salesman who came to the door at the time was from a neighboring village, and now I can’t find it. I only heard that he went to Shanghai.

Li Guimin can only look at the APP on his mobile phone in a hurry. On this APP, there is a jumping arrow showing the amount of power generation, but Li Guimin found that the income generated by the monthly power generation could not repay the loan at all, and had to transfer money from his other bank accounts to repay. "In the first year of installation, the electricity bill was not enough to repay the loan interest, so I paid 2,000 yuan in reverse; in the second year, I paid 4,000 yuan in reverse. It is estimated that at least 5,000 yuan will be inverted this year."

In addition to the repayment of the principal and interest of the loan, there are also miscellaneous maintenance costs, which cost thousands of dollars a year. Li Guimin calculated an economic account for Phoenix.com's "Eye of the Storm": photovoltaic panels need to be cleaned and repaired. Each cleaning cost is 500 yuan, and the repair fee is 200 yuan, which does not include material costs. During the three months of each summer season, he would find someone to repair it almost every month.

Spoiler:

Whether it is the harsh details hidden in the contract or the bubble-filled "data" of the photovoltaic company, the villagers who have installed photovoltaic panels on the roof have realized a truth: they just give the photovoltaic company free work. The real profit is those photovoltaic companies.

Frontrun ESG's Exit From Tech, They Can't Buy Energy or Mining

The ESG movement has helped push the technology sector to extremes because it eschews investments in sectors that power the economy. Energy is 3 percent of the S&P 500 Index, technology is north of 40 percent once you account for Amazon, Google, Facebook, Netflix, Tesla, Twitter and other tech companies that were moved out of the old tech sector. Assume we move into a stagflationary economy such that energy and commodities are vastly outperforming the market, and you're an ESG manager trapped in stocks headed for 80-percent inflation-adjusted losses. If you don't believe that number, consider that Amazon's stock price fell 95 percent in the doctom bust. Microsoft fell 70 percent into the 2008 low, with no consideration of inflation.

Assume tech in general loses 60 percent nominal, that takes a $100 portfolio to $40. Stagflation would involve double-digit inflation. The current CPI, if using 1980s calculation that Volcker was working from, would be 14 percent. I'm skeptical of these calculations to a point. If inflation takes off we probably will see the CPI "break" because the market will ignore it for a new measure or the CPI will capture actual inflation and head towards double digits in a stagflationary scenario. A decade of roughly 8 percent CPI would cut the value of the currency in half, which would take a nominal $40 portfolio down to $20 in purchasing power.

Let's say you're an ESG manager right now. Your portfolio is loaded to the gills in technology. You're not allowed to buy the stocks that will lead the market higher, and even if you wanted to buy them, a lot of them are probably far below your minimum market capitalization and liquidity requirements. Large managers with no ESG mandate can go into commodity futures, but not ESG. What do they buy? Solar is the first thing that came to my mind. First Solar (FSLR) as a P/E of about 20 right now. I assume stocks like this will see multiple expansion into 50s or even 100s in an energy bubble. Some ESG managers with looser standards might be able to wade into some agricultural stocks, like technology companies that conserve resources. I can't think of a large company that qualifies today, but if all the ESG managers are looking for something to own, maybe some of these firms get extremely high valuations.

Anyway, I'm genuinely curious about this, sparked by the reality of soaring coal stock prices. For example, would ESG be able to invest in clean coal? If they support clean coal, they are in effect supporting and probably expanding coal as an energy source. Maybe that is what is coming, a return to sanity with idiotic ideas like "net zero" emissions go into the ash heap. If not, the options for ESG are highly limited in an environment where funds with no restrictions will be generating high double-digit annual retuns. ESG managers will be losing jobs left and right if Joe Value Fund returns an annualized 40 percent for 10 years, while Mr. ESG is losing an annualized 10 percent. If ESG as a concept is here to stay, that means ESG managers will still be managing trillions upon trillions in wealth and it'll have to go somewhere profitable if it is to continue existing.

In the nearer term, the obvious play is to short technology. They have to sell technology for something else if there is a bear market. Then the question is: what will they buy? If they don't won't Particularly if you think ESG managers don't know what to buy, because they're trapped. They're the bag holders for this bear market.

Drilling into the Sectors

MSCI put out a report on the 20 largest ESG funds (PDF). In the report is this sector exposure list and top holdings list.

Some of the ESG funds have flexible mandates that let them invest in clean coal, natural gas over oil, or in say the oil drillers that use low-carbon methods. These funds will be fine because they can invest in energy and mining firms. Under stagflation, financials are a bad bet, they're out. That leaves telecom, healthcare, alternative energy and maybe utilities. Battery tech and electrificaiton will also be a destination.

What has me wondering though, is how large are their target asset markets versus their current terchnology holdings? There aren't several $1 trillion market cap battery stocks. The simple solve in this equation is a bear market. Trillions upon trillions in ESG funds are going to money heaven.

Ten UK Energy Suppliers Already Bankrupt Since August

Bloomberg: Three More U.K. Power Suppliers Collapse as Energy Crisis Deepens

Igloo Energy Supply Ltd, Enstroga and Symbio Energy announced their collapse on Wednesday, taking the number of U.K. utilities that have gone under to ten in the past two months amid a broader energy crisis.

Clown Economy Comes to the UK

electrek: The British have a gas shortage, so they’re Googling electric cars like crazy

September 29 update: UK car-buying comparison website carwow reached out to Electrek today to let us know that it, too, like Carguide (see below), has experienced a huge surge in site searches for electric cars.

Compared to the previous week, carwow says EV searches increased 28% on Friday, 43% on Saturday, and 56% by Sunday September 26.

They will go from a gasoline shortage to an electricity shortage.

Climate Madness

Global Cooling

'We are at an historic moment in time when earth’s climate is about to change in dramatic and unthinkable ways. We are seeing a rare symmetry and synchronicity of natural weather cycles all pointing in the same phase and direction for the first time since the early 1600’s'

The above is part of a Twitter thread excerpted from a special report, available here from Hackett Financial Advisors.

The trick with global cooling is that it's far more volatile than warming. For all the apocalyptic forecasts, warming has many positive benefits. Global cooling on the other hand, could wreck agricultural output because the climate will rapidly shift. I haven't dug into research yet, but I wonder if as an example, fertilizer would underperform because demand would collapse as the area of arable land shrinks. Ice breakers may be needed for rivers such as the Hudson in New York and the Thames in London. Snow plow fleets will be needed in the Southern U.S., energy demand for heating would soar.