Utopia, you are standing in it!

Chevy Bolt [image credit: GM Authority] No hope of ever breaking even on that model now, if there was any to start with. Another edition of the recurring lithium-ion safety issue in the world of EVs: battery ’emissions’. 
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DETROIT (AP) — General Motors is recalling all Chevrolet Bolt electric vehicles sold worldwide to fix a battery problem that could cause fires.

The recall raises questions about lithium ion batteries, which now are used in nearly all electric vehicles.

President Joe Biden wants to convert 50% of the U.S. vehicle fleet from internal combustion to electricity by 2050 as part of a broader effort to fight climate change.

Critique of Hobsbawm’s Marxisant approach

In the third of his mighty trilogy of histories of the long nineteenth century, The Age of Empire: 1875 to 1914, as in its two predecessors, Hobsbawm makes no attempt to hide his strongly Marxist point of view. Every page shouts his contempt for the era’s ‘bourgeois’ men of business, its ‘capitalists’ and bankers, the despicable ‘liberal’ thinkers of the period and so on. From time to time his contempt for the bourgeoisie rises to the level of actual abuse.

The most that can be said of American capitalists is that some of them earned money so fast and in such astronomic quantities that they were forcibly brought up against the fact that mere accumulation in itself is not an adequate aim in life for human beings, even bourgeois ones. (p.186)

Replace that final phrase with ‘even Jewish ones’ or ‘even Muslim ones’…

This economist clearly has faith in IPCC climate models and theories, but he may be in for his own shock by putting all his climate eggs in the carbon dioxide emissions basket. Meanwhile, brace for economic pain.
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The vast expense of ending global warming [Talkshop comment: reality may differ] will trigger a blow to the world economy that is as damaging as the 1974 oil shock, a top international economist has warned. The Telegraph reporting.

A scramble to cut carbon emissions is likely to send energy prices rocketing and hold back living standards for years to come, Jean Pisani-Ferry said in a report published by the Peterson Institute for International Economics.

Mr Pisani-Ferry – a public policy expert who has served in senior economic roles in the European Union for decades – said that although the bill is both manageable and necessary to halt climate change…

I was, conditionally, sympathetic to the Funding for Lending programme the Reserve Bank put in place late last year. At the time they thought (and it seemed plausible they were right) that more monetary stimulus was needed, and – through their own neglect and incompetence over several years – they asserted that a negative OCR could not yet be implemented. The announcement of the scheme clearly narrowed the gap between wholesale and retail interest rates, lowering the latter. This chart from this week’s MPS is one way of illustrating the point.

The effect was achieved by making it known the scheme was coming, and then available. Relatively little was actually borrowed, especially early in the piece.

The scheme works by offering funding to banks (only) at an interest rate equal to the OCR (floating rate, so the rate changes as the OCR does) for terms of three years. The loans…