The Biden Recession bites deeper, Soros’ hands are all over the pro-Hamas protests, California fast food wage hikes hurt workers (but help robotics companies), and some Harris County legal followups. Plus some Zack Snyder bashing. It’s the Friday LinkSwarm!
For the first time in our history, a 30-year-old man or woman isn’t doing as well as his or her parents were at 30. That is the social compact breaking down.
People aged 30-34, 60% of them in 1990 had one child. Now it’s 27%. People are opting out of America, they’re not optimistic about it, they’re not having kids. Young people aren’t having sex. They’re not meeting, they’re not mating. The pool of emotionally and economically viable men shrinks every day. Which lessens household formation.
They (millennials and Gen Z) look up, they see wealth, exceptional wealth, across my generation and people in certain industries, and they are really struggling. Their purchasing power is really going down…
We get very concerned with housing and traffic once we own the housing. Housing permits are sequestered from young people, housing prices have gone from $290,000 to $420,000 in the last 4 years.
So a young person, a house, stocks that I don’t own, skyrocket in value, let’s have Covid relief and flush the markets and take assets way up because a million people dying would be bad, would be tragic if I got less wealthy, and we’re doing it on their credit card.
Bill Maher is, if anything, clever about his timing like most comedians. His rebellion against the woke mob has been carefully crafted in a way that has allowed him to avoid outright cancellation. It’s not as impressive a revolt as Gina Carano’s because the risk today is far less, but at least he’s willing to address the obvious hypocrisy within the social justice crowd and admit that maybe, just maybe, conservatives had it right all along.
His latest surprising monologue covers an issue everyone has known about for years but almost no one in the media has been willing to address seriously because it involves many of their friends in the entertainment industry. Hollywood was quick to jump on the feminist bandwagon at the helm of the “Me Too Movement”, but this only exposed a small part of Hollywood’s degeneracy. Actresses trading sex for favors from producers and executives is hardly that shocking a revelation. The thing they really don’t want to talk about is the industry’s penchant for pedophilia…
The money quote from that video that’s not in the ZeroHedge article: “The left will overlook child-fucking if a guy from the wrong party points it out.”
One of the deepest darkest secrets of film, television and music media is that the business has long been used as a vehicle for child abusers to target kids in an environment where parental supervision is limited (and lots of money can be gained). This reminds us of yet another environment where parental supervision is limited: Public schools. The political left has also targeted these institutions as ample ground for grooming. Why? As Bill Maher notes, the groomers are naturally gravitating to where the children are.
“Leave the kids alone” is a mantra that the woke movement simply refuses to understand or accept. The reason is relatively transparent – Leftists are less inclined to have children of their own, and so, in order to increase their numbers and power they are required to indoctrinate your kids instead. This is all done under the guise of “inclusion” and the “greater good” but the results of this kind of activism are becoming deeply disturbing. Even moderate liberals are noticing that woke behavior is destroying what remains of their image.
Newly unsealed documents in Donald Trump’s classified documents case reveal that the Biden White House colluded with the National Archives (NARA) and the FBI to concoct a case against the former president.
What’s more, Special Counsel Jack Smith sought to conceal this – telling Judge Eileen Cannon in February that Trump’s counsel isn’t entitled to discovery on documents between the White House and NARA, that the court should toss requests for evidence of the alleged coordination, and that the court should deny Trump’s request for evidence related to secure facilities at his residences. Further, Trump’s request for unredacted discovery of materials should be denied.
Seems like a substantial due process rights violation, doesn’t it?
Immediately after Biden’s signature, the Pentagon announced $1 billion of military assistance to Ukraine from the Presidential Drawdown Authority.
Stinger anti-aircraft missiles, ammunition for HIMARS rocket systems, 155mm artillery rounds, 60mm mortary rounds, and Bradley Infantry Fighting Vehicles, are among the U.S. capabilities being provided to Ukraine, the Pentagon said.
The foreign-aid legislation will send roughly $60 billion in aid to Ukraine, with $23 billion being used to replenish U.S. weapons stockpiles and $11 billion to fund U.S. military operations in the surrounding area.
Israel will receive $26 billion including $4.4 billion to fund its Iron Dome and David’s Sling missile defenses. Over $9 billion of the Israel aid will go towards humanitarian relief.
While I support military aid to Ukraine, Republicans should not have dropped their demand that border security be addressed first, nor should we be raising the national debt to do it. And if we’re going to be paying for David’s Sling and Iron Dome, then we better damn well be getting the tech back to use in our own weapons.
At three colleges, the protests are being encouraged by paid radicals who are “fellows” of a Soros-funded group called the US Campaign for Palestinian Rights (USCPR).
USCPR provides up to $7,800 for its community-based fellows and between $2,880 and $3,660 for its campus-based “fellows” in return for spending eight hours a week organizing “campaigns led by Palestinian organizations.”
They are trained to “rise up, to revolution.”
The radical group received at least $300,000 from Soros’ Open Society Foundations since 2017 and also took in $355,000 from the Rockefeller Brothers Fund since 2019.
More on that theme:
TERROR: The occupation of college campuses across the US is a well organized and funded operation led by Soros-backed groups including Students for Justice in Palestine (SJP) and the US Campaign for Palestinian Rights (USCPR). The Soros-backed NGOs pay outside agitators $7800 and… pic.twitter.com/6wzpjBksBs
A lot of Jewish friends, especially those who are finally awake after 10/7, say things like "how is this America?" or "It's so scary that this Jew-hatred is happening everywhere." But it's very much NOT "America" and it absolutely is NOT happening "everywhere." In south Florida,…
A lot of Jewish friends, especially those who are finally awake after 10/7, say things like “how is this America?” or “It’s so scary that this Jew-hatred is happening everywhere.” But it’s very much NOT “America” and it absolutely is NOT happening “everywhere.” In south Florida, Jews wear the dinner plate Magen Davids and no one says one word. In rural Michigan, churches put “pray for Israel” on the signs outside. I’m not naive, obviously Jew-haters can and do live anywhere. But they’re only thriving, open, proud, in blue areas and I’m not going to let people ignore that. A lot of liberal Jews are trying to parse things right now. They imagine they are still of the left but just on this one tiny little thing, their right to exist, they disagree. No, my friends. It’s a house of cards and you’re pulling the one from the very bottom. The whole left ideology is corrupt and you’re going to have to face it. You can’t spread the blame around. The hatred, the rage, the violence, the dehumanization is all coming from one side: yours.
When Democrat judges go rogue. “Do not bring the Second Amendment into this courtroom. It doesn’t exist here. So you can’t argue Second Amendment. This is New York.” (Hat tip: Stephen Green at Instapundit.)
The state of California seems hellbent on making life a living hell for middle-class residents, as evidenced not just by their soft-on-crime policies but by the minimum wage increase that went into effect at the beginning of April.
Though the $20/hour wage was ostensibly designed to help minimum wage workers, it has had the opposite effect, with fast food restaurants in the Democrat-run state slashing jobs and hours, implementing hiring freezes, and/or bringing in self-serve kiosks to ease the financial burden.
Something else they’ve had to do is raise prices on the food they serve, with prices going up as much as eight percent at some locations.
While the fast-food industry was founded on utilizing technology to increase efficiency, the robot revolution seems to be speeding up.
Last year, Sweetgreen, a Los Angeles-based fast-casual salad chain, debuted its fully automated Infinite Kitchen at a restaurant in Illinois. Like Mezli, the Infinite Kitchen moves bowls down a conveyor belt where its system automatically portions out ingredients. The technology is “expected to cut labor costs in half while boosting throughput,” according to a trade magazine.
Similarly, the founder of Chipotle recently launched a new fast-casual chain, Kernel, that utilizes robots to heat and assemble vegetarian meals.
In December, a CaliExpress burger joint opened in Pasadena, complete with robot arms that cook burgers and fries, and AI-powered kiosks that allow customers to order and pay (and tip, of course), with their faces. Leaders at Miso Robotics, one of the companies behind CaliExpress, have said it is the first restaurant where all the ordering and cooking is fully automated.
The robots “don’t call in sick, they don’t get drunk the night before work and come in with a hangover,” one CaliExpress leader told a local TV station. “They’re a little bit more reliable.”
Other restaurants, including Cajun Crack’n in Concord, Calif., are experimenting with robots that can deliver food, bus tables, and may soon be taking orders. Robot bartenders and baristas are also in the works.
While restaurant sales are forecasted to increase this year and the restaurant workforce is expected to grow, owners are continuing to struggle with slim margins, in part due to food inflation and rising labor costs. According to the National Restaurant Association’s 2024 State of the Restaurant Industry report, 98 percent of restaurant operators are struggling with higher labor costs, and 38 percent say they weren’t profitable last year.
Biden Recession + union-backed wage hikes = boom times for robots
El Paso Democratic judge: Eh, there’s not enough evidence to put these illegal aliens on trial for assaulting state troopers. Just let them go. Grand jury: Nope! We’re indicting 141 of them for that riot.
Another Harris County follow-up: DA Kim Ogg announced that the legal cases against Lina Hidalgo staffers will now be prosecuted by the Texas Attorney General’s office because Democratic DA nominee Sean Teare, who defeated Ogg in the March primary, “works for the Cogdell Law Firm, which is defending Hidalgo’s former Chief of Staff Alex Triantaphyllis in the case, and that he had sought and received Hidalgo’s endorsement.”
The Biden Administration wants to waste taxpayer money pushing radical transgenderism in other countries. “The Biden administration wants to train at least 200 activists to advocate for transgender rights in India as part of a program ostensibly designed to advance America’s ‘national interests,’ according to a federal grant posting.”
More Biden Administration madness: “A popular US convenience store chain has been hit with a civil rights lawsuit accusing it of discriminating against minority job seekers because it requires applicants to have no criminal record.”
A dust storm of political madness is brewing in Phoenix as Grand Canyon University faces the continued threats of Education Secretary Miguel Cardona.
Christians have watched as the Biden administration attacks biblical views left and right, with a particularly vehement disregard for the sanctity of life and marriage. As such, it can’t be too surprising that Cardona, a part of this leftist administration, has vowed to shut down America’s largest Christian university.
In late October, Grand Canyon University was hit with “a $37.7 million fine brought by the federal government over allegations that it lied to students about the cost of its programs,” The Associated Press reported—an accusation that GCU President Brian Mueller described as “ridiculous.”
Around the same time, Liberty University, America’s second-largest Christian university, also was fined $37 million “over alleged underreporting of crimes.”
Grand Canyon University appealed its fine in November even though a hearing is not expected until January 2025. But the question Mueller has is one of integrity. Is this genuine consideration for the well-being of students, or is this a targeted attack against religious institutions?
“It’s interesting, isn’t it, that the two largest Christian universities in the country, this one and Liberty University, are both being fined almost the identical amount at almost the identical time?” GCU’s president speculated in a speech. “Now is there a cause and effect there? I don’t know. But it’s a fact.”
Trader Joe’s organic basil has an extra organic ingredient: salmonella.
Critical Drinker wasn’t impressed with Rebel Moon 2: “Comically inept…boring and tedious..derivative cliched and unoriginal. It takes a special kind of cinematic anti-genius to bring all these things together into one movie. You have to actively work to make a film this bad”
The Biden Recession hits boardgaming. This is not a field I have much experience with, as the last boardgame I bought was the Kickstarter for the Designer Edition of Ogre. But I have noticed a similar decline in what science fiction book collectors are spending. Still, the idea that boardgames manufacturers are close to $1 billion in debt is pretty staggering.
The Onion sold. “The Onion has a new owner: a company called ‘Global Tetrahedron,’ which is a real thing based on a fake entity invented by the satire site more than two decades ago….The Onion’s new owner is Jeff Lawson, co-founder and former CEO of Twilio, a customer-service software company, he announced Thursday on X (formerly Twitter).” When last we read about Jeff Lawson, he was dumping money on the Dem side in the 2020 Texas Senate race, to no effect. Now people are wondering whether they’ll shut down zombie SJW gaming site Kotaku…
Live in Florida? Ron DeSantis would like you to adopt this cute border dog:
Essentia is a lab/shepherd mix who was rescued from the southern border, where the border crisis affects everyone—even our canine friends. Please consider giving Essentia a great home by adopting her from Big Dog Ranch Rescue.https://t.co/2ATqP5DPQNpic.twitter.com/qMO8JD1zUw
Between inflation, the Russo-Ukrainian War, drought, etc., there’s a lot of worry about food insecurity around the world. While I think America will do the best of just about anyone, I’ve long been a cheap prepper, spending around $20 a year on various prep items, but recently I’ve stepped up my food buying, trying to pick up just one extra shelf-stable item a week, just in case. And I’ve been thinking about growing more food beyond the pepper plant I already have.
Here’s a couple of videos on what to grow for food crops given limited areas.
Both mention beans, but dried pinto beans are still pretty darn cheap, and if you like those (I don’t), you’ll want to lay in a lot of dried beans. If the emergency lasts long enough, you can grow them when you start to run low.
I’m not wild about cabbage or kale, but I like potatoes well enough, and I think I could grow those pretty well in a tub or two, as well as sweet potatoes. And I might as well get a pumpkin for Halloween and try spreading the seeds out next spring.
What are you doing to lay in an extra supply of food?
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If you have any other food tips for the apocalypse (or even just temporary economic disruption, like a possible rail strike), feel free to share them down below.
I hope all BattleSwarm readers are safe from the Joe Biden Armageddon thus far. Today’s LinkSwarm features Democrats disdaining the rules followed by the little people, the UN is delusional enough to think they can run the world and defy the laws of economics, and petting dogs is good for you.
UNCTAD, the UN agency dealing with global trade, demanding *all* central banks stop rate hikes and instead switch to price controls. They argue, “policymakers appear to be hoping that a short sharp monetary shock – along the lines, if not of the same magnitude, as that pursued… under Paul Volker – will be sufficient to anchor inflationary expectations without triggering recession. Sifting through the economic entrails of a bygone era is unlikely, however, to provide the forward guidance needed for a softer landing given the deep structural and behavioural changes that have taken place in many economies, particularly those related to financialization, market concentration and labour’s bargaining power.”
I am not playing tennis with them either, but note the radicalism. Indeed, their latest report also argues, “supply-chain disruptions and labour shortages require appropriate industrial policies to increase the supply of key items in the medium term; this must be accompanied by sustained global policy coordination and (liquidity) support to help countries fund and manage these changes.” So, industrial policy. And Fed swap-lines. Expect both ahead.
They also ask why we haven’t regulated shadow-banking, and why we allow speculators in global commodity markets who have nothing to do with underlying trade. On the latter they note, “Market surveillance authorities could be mandated to intervene directly in exchange trading on an occasional basis by buying or selling derivatives contracts with a view to averting price collapses or deflating price bubbles.” I expect nothing but that ahead – and geopolitically driven to boot.
This boils down to: “Hey, we need to institute economic policies proven to fail, because otherwise lots of rich people will lose money!” Wage and price controls were tried in the 1970s and they failed miserably. The longer governments try to defy the market, the more terrible the snapback when those efforts fail.
On Tuesday, the New York Times framed a story circulating on the right over a software company’s connection with the Chinese Communist Party as a “right-wing conspiracy theory.”
“At an invitation-only conference in August at a secret location southeast of Phoenix, a group of election deniers unspooled a new conspiracy theory about the 2020 presidential outcome,” was the Times’ original lede (via the Daily Caller).
In it, the Times wrote that “right-wing” election deniers in Arizona had fabricated a conspiracy theory that election software company Konnech had secret ties to the CCP, and was passing them information on around two million US poll workers.
“In the two years since former President Donald J. Trump lost his re-election bid, conspiracy theorists have subjected election officials and private companies that play a major role in elections to a barrage of outlandish voter fraud claims,” reads the article. “But the attacks on Konnech demonstrate how far-right election deniers are also giving more attention to new and more secondary companies and groups. Their claims often find a receptive online audience, which then uses the assertions to raise doubts about the integrity of American elections.”
The next morning, Konnech executive Eugene Yu was arrested for the alleged theft of poll workers’ personal information.
New Orleans Mayor LaToya Cantrell is facing the threat of a recall election and it’s not just the city’s rising crime that has petition signers enraged.
The two people behind the petition are both Democrats demanding the Democrat mayor leave office for her “failure to put New Orleans first and execute the responsibilities of the position,” according to Fox News.
In 2021, more than 150 officers left the New Orleans Police Department, despite a surge in murders and carjackings. Carjackings so far this year stand at 217, an increase of over 200 percent since 2019, according to the Metropolitan Crime Commission weekly bulletin.
But it’s the mayor’s exorbitant travel spending that has people up in arms.
She traveled to sister cities Ascona, Switzerland, and Juan Antibes-les-Pins on the French Riviera this summer, costing the City of New Orleans close to $45,000, including first-class international airfare with lie-flat seating.
The city’s travel policy requires employees to pay the difference in cost for work-related airfare upgrades, stating “employees are required to purchase the lowest airfare available … employees who choose an upgrade from coach, economy, or business class flights are solely responsible for the difference in cost,” Fox News reported.
But Cantrell hasn’t paid the near $30,000 bill from her first-class international flight upgrades over the summer.
She has claimed the visits are an investment in the city and necessary for her safety.
“My travel accommodations are a matter of safety, not of luxury,” The Times-Picayune/The New Orleans Advocate reported. “As all women know, our health and safety are often disregarded and we are left to navigate alone. As the mother of a young child whom I live for, I am going to protect myself by any reasonable means in order to ensure I am there to see her grow into the strong woman I am raising her to be. Anyone who wants to question how I protect myself just doesn’t understand the world Black women walk in.”
Yes, I’m sure the men and women who walk the streets of New Orleans at night have never know unthinkable fear of having to fly coach to Switzerland.
“Federal Law Does Not Exempt LGBT Employees From Bathroom, Dress Code, Policies, Judge Rules…A U.S. Equal Employment Opportunity Commission (EEOC) policy document from June 2021 overreached in its interpretation of the Supreme Court’s ruling forbidding employment discrimination based on sexual preference and gender identity, Judge Matthew Kacsmaryk of the U.S. District Court for the Northern District of Texas found. Texas sued over the guidance.”
Well, fellas, if you don’t want OPEC+ to be in a position where it can influence U.S. gasoline prices a month before the election, you need policies that minimize the U.S. market’s dependence upon the global oil market. This means maximizing U.S. oil production and expanding U.S. refinery capacity.
It would be a mild exaggeration to declare that the Biden administration hascompletely stopped issuing leases for oil and gas drilling on federal lands and in federal waters, but only a mild one. As the Wall Street Journal reported last month, “President Biden’s Interior Department leased 126,228 acres for drilling through Aug. 20, his first 19 months in office, the analysis found. No other president since Richard Nixon in 1969-70 leased out fewer than 4.4 million acres at this stage in his first term.” It’s not a complete halt, but it’s very close to one. This means that the U.S. is almost entirely dependent upon oil production from private lands.
The good news is that there’s still a lot of oil beneath private lands. As of July, the U.S. was producing 11.8 million barrels per day, an increase from the 11.1 million barrels per day produced in January 2021, the month President Biden took office. But before the pandemic hit in early 2020, the U.S. was producing 12.8 million barrels per day, and it even hit 13 million barrels per day in November 2019. We have the proven ability to produce about 1.2 million more barrels per day than we are, if we want to do so and our public policies encourage it. But right now, they do not.
The Biden administration keeps insisting that it’s doing everything it can to bring gas prices down, including releasing oil from the Strategic Petroleum Reserve — which is now at its lowest level in 40 years. But what’s in the SPR is oil, not gasoline, and oil must still be refined. You can’t just pump the stuff out of the ground and put it in your car.
U.S. refineries are running at full capacity, or just short of full capacity. This is why oil from the Strategic Petroleum Reserve releases got sent to Europe and Asia, because they had the room and equipment to turn it into actual usable fuel. The U.S. currently has no more spare ability to turn the oil from the reserve into stuff that will actually make your car move; yelling at the oil companies isn’t going to change what is fundamentally an engineering problem.
And Democrats absolutely refuse to let anyone build new oil refineries.
Multiple sources have confirmed that Nord 2 was full of natural gas; that it was full for at least months; and that said natural gas had never moved.
It. Just. Sat. There. For — allegedly — months.
During normal operations of a pipeline, you run a pig through fairly regularly. A “pig” is a bit of equipment pushed by the gas flow, and as it moves along it shoves water and hydrate slurry down to where it can be removed; and it scrapes compounds off the inside walls (hydrogen sulphide, I’m looking at you) that might be are probably eating your pipe.
Note the part above where the pigs are pushed by the gas. The gas in Nordstream 2 never moved. That means no pig ever went down the line to shove water out, move hydrate slurry, or stop H2S from corroding the steel of the pipeline.
As I said in the previous post — and I will continue to say — none of this rules out intentional Acts of War. There are idiots enough in that region that sabotage can’t be discounted.
“A lot of folks are running the White House. Joe Biden just isn’t one of them.” “Biden is surrounded with longtime D.C. power players, such as Ron Klain, Susan Rice, Anita Dunn, John Podesta, Gene Sperling – a veritable “who’s who” of Beltway knife fights and insider skullduggery. Throughout their long careers, they’ve never sought credit or voter approval. Just power.”
“NYC Mayor Declares State of Emergency over Influx of Illegal Immigrants. [New York City mayor Eric Adams] said at least 17,000 asylum seekers have arrived in the city by bus from other parts of the country since April.” Oh, a million illegal aliens come over the border into Texas and it’s no big deal, but 17,000 show up in your “sanctuary city” and suddenly it’s a problem!
“NYU Fires Chemistry Professor After Students Launch Petition Claiming His Course is Too Hard.” The lesson here seems to be that businesses shouldn’t hire NYU grads…
British blogger eats on £1 for a single day and has a very tough time of of it, even with foraging and scavenged condiments. Despite the dollar-pound exchange rate being so favorable, I don’t think I could do that on $1 a day shopping at HEB, and even if you made it $1.25, it would have to be three meals of ramen. Also, I don’t think I can even buy a single carrot at HEB (if I had wanted to), spaghetti is considerably more than 23¢ for 500 grams. $5 for $5, that I could do, and $30 for 30 days would be grim but very doable (price, pasta, and beans).
Lebanon has seized a ship loaded with barley and wheat flour while it determines whether the cargo may have been stolen from Ukraine, said Public Prosecutor Ghassan Oueidat.
The Ukrainian Embassy in Beirut said the vessel was loaded at Feodosia in the Russian-occupied peninsula of Crimea, and that the commodities originated from Zaporizhzhia, Mykolaiv and Kherson in southeastern Ukraine.
The embassy accused Russia of stealing more than 500,000 tons during its occupation of the three regions. While Russia denies stealing grain, it has publicly touted the resumption of grain shipments from occupied ports.
Grain shipments from Crimea have surged since Russia’s invasion of Ukraine in February, which analysts say indicates Ukrainian grain is being exported. Exports from Crimea are sanctioned by the European Union and the U.S..
The cargo ship Laodicea arrived at Tripoli in northern Lebanon on July 27, according to ship-tracking data monitored by Bloomberg. It will be held while Lebanon carries out an investigation into the cargo’s origin, Oueidat told Bloomberg.
Supposedly the seizure is limited to 72 hours. We’ll see.
The ship’s registered owner is Syria Mar Shipping Ltd., according to European database Equasis. Syria Mar Shipping Ltd. wasn’t immediately available to comment. Both the company and the ship were sanctioned by the U.S. in 2015 for their association with the Syrian government of President Bashar Assad.
Syria, of course, is a neighbor that has repeatedly interfered with Lebanon through its terrorist proxy/political party Hezbollah, though current Lebanese President Michel Aoun usually counts Hezbollah as a parliamentary ally. (Summarizing the weird twists and turns of Lebanon’s ever-shifting multi-confessional political landscape is way beyond the scope of this article, though if you’re really interested, reading Michael Totten’s The Road to Fatima Gate might help.) The fact that Lebanon, a small and broke country, is willing to defy both Russia and Syria, speaks to how unified much of the world is against Russia’s invasion of Ukraine, and how little such countries fear Russia’s wrath these days.
Indeed, the “broke” part may be the deciding factor here, as Lebanon is seeking a $3 billion bailout from the IMF (which is demanding enactment of serious reforms before handing the money over), and the big backers of the IMF are all firmly on Ukraine’s side.
If counties like Lebanon (somewhere around the 100th largest economy in the world) are willing to seize illicit Russian cargo, then the opportunities for Russia to financial benefit from its illegal occupation of Ukraine would seem to be thin.
Amid fears of worldwide food shortages due to the Russo-Ukrainian war, Russia and Ukraine signed an agreement to reopen sea corridors to allow food exports from the Ukrainian port of Odessa to recommence.
World leaders swiftly condemned the Russian missile strike on a Ukrainian port, a dramatic revelation amid a U.N.-brokered deal that secured a sea corridor for grains and other foodstuff exports.
A day prior, representatives from the U.N., Turkey, Russia and Ukraine signed an agreement to reopen three Ukrainian ports, an apparent breakthrough as the Kremlin’s war on its ex-Soviet neighbor marches into its fifth month.
The deal, signed in Istanbul and set to be implemented in the next few weeks, follows a months-long blockade of dozens of Ukrainian ports sprinkled along the Sea of Azov and the Black Sea.
The strike on Odesa, Ukraine’s largest port, illustrates yet another anxious turn in fruitless efforts to mitigate a mounting global food crisis.
Given how many agreements and treaties Putin violated by occupying parts of Ukraine and then launching the current war, there’s no reason to believe that Putin will adhere to the terms of any agreement.
The path to lasting peace in Ukraine is complete destruction and ejection of invading Russian forces.
There are a lot of posts on Twitter postulating a food shortage due to the Russo-Ukranian War. The reasoning goes that, on top of existing supply chain disruptions, Russia and Ukraine were big wheat exporters, and Russia is the world’s biggest fertilizer exporter.
Those are concerns, and I think there’s a real good chance of food shortages…in Russia. That’s the sort of thing that happens when you unplug yourself from the world economy. And Europe might have some disruption, given that they’re net food importers.
But I doubt we’re going to have that problem in the U.S. of A. First, our supply chain problems were started easing when vaccine mandates started getting lifted due to the dread midterm variant. Second, America makes lot of fertilizer ourselves, and Russia isn’t the exclusive source of nitrogen, phosphorus or potassium. (Though a Canadian rail strike might impact the last.) Third, capitalism has a great way of supplying substitute goods if left to its own devices.
On February 14, the average price of the four commodities was 15.1c per 1000 calories. By March 8, it had risen to 17.4c, an increase of 15.2%. Using the Roberts and Schlenker factor of 7, this implies a 2.2% decrease in available supply of calories. Removing 55 million metric tons of wheat and 30 million metric tons of corn entails a 2.7% reduction in available supply of calories from the big four commodities. (Here’s an Excel file containing these computations.)
So, it seems the markets are banking the world losing about three quarters of Ukrainian and Russian grain exports (2.2/2.7). Given the large increase in winter wheat prices relative to the other commodities, most of the loss is from wheat.
Traders expect this shock to last only a year. Winter wheat futures prices for delivery after July 2023 barely increased after the invasion. The same is true for corn. The spring wheat market was already tight because of last year’s drought and traders expect it to remain tight beyond 2023.
How common are market shocks of this magnitude? Russian and Ukrainian wheat exports were 7.3% of global production in 2020. Wheat production declined 6.3% in 2010, in part due to a drought that reduce Russian production by 20 million metric tons. Similarly large declines also occurred in 1991, 1994, 2003, and 2018.
From the analysis above, the observed price increases are consistent with a 2.2% decrease in available supply of calories from corn, rice, soybeans, and wheat. Similar declines occurred in 2018, in part due to drought in Argentina and lower wheat acreage in Russia, and in 2012, in part due to drought in the US.
The increase in wheat prices will not cause massive increases in the price of American bread. Most of the price of food is determined by the cost of processing, packaging and marketing. The USDA estimates that farm gate sales of food commodities made up 14% of the retail value of food in 2019. If farm prices increase by 50%, then we would expect food in the grocery store to increase by 7%.
As long as the Biden Administration doesn’t do something criminally stupid (like imposing wage and price controls to fight inflation, or a mandate that 50% of truck drivers be women), the American economy should adapt to prevent any significant food shortages due to the Russo-Ukrainian War.
Of course, government has no shortage of other ways to wreck the economy and make food scarce, and hyperinflation is one of the best…
I finally got my ducks in a row to carry out a roadtrip to the Saxet San Antonio Gun Show, the largest in central Texas, along with Dwight and Mike. (With two large dogs to board, the logistics can be daunting.) My last trip to a gun show was a few years ago, so I wanted to see how The Great Gun Buying Panic of 2020 has changed things. Here are some observations that people of the gun may find of interest.
We got there at about 11 AM, and while sales seemed brisk, they weren’t “if you see it you better buy it or it’s gone forever” brisk. At a glance all regular rifle and pistol manufacturers and makes in the usual calibers seemed to be there, with the possible exception of Glocks. Usually they seem to be plentiful, but I don’t recall seeing the usual arrays of new Glock cases. Then again, I wasn’t looking for a Glock, so I might just not have seen them, or the dealer mix was Glock-lite.
I was looking for a Smith & Wesson M&P15 in 5.56 NATO/.223, and boy prices have gone up on those. Used to be you could find them in the $550 to $600 range. You could find them in stock boxes at the show, but they started at $998. Supply and demand has driven this one through the roof.
My less scientific survey of pistol prices suggests they’re up as well, but not as much, and I got the impression that quality name-brand models were generally up some $100 to $150 over a few years ago.
Ammunition prices were also up, and business also seemed brisk, but didn’t suffer from the “put it out and it’s gone” condition people seem to be finding at their local sporting goods shops. I bought 50 rounds of .45 ACP ammo for $25 (and brass, not steel). That’s up from the 33 cents a round I used to pay, but not up as much as I expected.
Again, I wasn’t looking for them, but reloading supplies seemed nearly non-existent. The Great Primer Shortage of 2020 continues apace.
The San Antonio Gun Show was a whole hell of a lot more diverse than the average antifa riot, with Hispanic, black and Asian attendees. It also seems to skew younger and with more women (maybe 25%) than in previous years.
Out: The weirdo Nazi memorabilia dealers you used to find at gun shows last century. In: People selling quilts, water softeners and beard oil (two different vendors for the last).
While we were in San Antonio, we tried to hit various Half Price Books locations. Two trips were successful, but but two others stores (including the Broadway location) were inexplicably closed, with locked doors and “closed to foot traffic” signs on the windows.
On the way to the show, we had some excellent breakfast tacos at Lucy’s Tacos in San Marcos, which is just a trailer next to a convenience store with three picnic tables under a vine-covered gazebo.
Moreover, Texas Republican state representative Jason Villalba has invited them to come on over to Texas.
Villalba, who has been in office for a little under a year, happens to be a Sriracha fan, but he’s looking to move the company for more than personal reasons. He notes in his letter that in Texas there are no personal or corporate state income taxes and a plentiful non-union labor pool. He also mentions that Forbes Magazine named Texas the best climate in the country to grow a business.
“The great state of Texas would welcome you and your employees with open arms if you would consider moving…” reads the letter. “…Texas could provide you with exactly what you need to continue to grow, build and maximize the opportunities of Huy Fong Foods.”
No word on whether they’re considering moving or not, but plenty of California businesses have already relocated from California’s failing blue state model to Texas’ booming economy, so it’s certainly possible…
