Why Would ANYONE Do Business with JP Morgan?

View this email in your browser ([link removed])
[link removed]
Unleash Prosperity Hotline
Issue #777
05/22/2023
New to the Hotline? Click ([link removed]) here ([link removed]) to subscribe–it's free. ([link removed])

1) Why Would ANYONE Do Business With JP Morgan?
Followers of our new CTUP report ([link removed]) on proxy voting by large financial investment firms (www.PensionPolitics.com ([link removed]) ) know that many of these companies managing trillions of dollars are biased toward ESG and climate change craziness.

We were pleased to see that at the latest JP Morgan shareholder meeting, CEO and Chairman Jamie Dimon was asked by Craig Rucker of CFACT, a fact-finding group on environmental issues, why the bank is directing so much of their client's money into low-return climate change investments. Here is the brief interchange and it’s a classic:

Rucker: “JPMorgan Chase's annual ESG report says that it has a $2.5 trillion sustainable development target. What exactly is this targeting, and wouldn’t all that money be better spent improving good returns for shareholders rather than squandered on showcasing woke priorities?”

Dimon: "Well you’re completely wrong. Almost all of that is positive business, meaning that it’s financing solar, it’s financing wind, it’s financing grids, it’s financing R&D, it’s financing battery plants, it’s financing car companies, it’s financing a huge amount of companies who are doing a great job of reducing the CO2 and clean carbon capture. It’s financing the agricultural companies. It’s all of that, It’s all almost for profit.”

CFACT’s Craig Rucker schools... Jamie Dimon
[link removed]
This is incredibly disingenuous. The only reason most solar and wind and battery plants have any “profit” — by their own acknowledgment — is that the government subsidizes them in the hundreds of billions of dollars. The social benefit is close to zero because even if the United States were to reduce our carbon footprint to zero – an economically ruinous course – it wouldn't matter because of China’s massive pollution levels.

[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fwhy-would-anyone-do-business-with-jp-morgan%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fwhy-would-anyone-do-business-with-jp-morgan%2F)
[link removed] Forward ([link removed])

2) CTUP Fighting for School Choice Victory in North Carolina
We are oh so close to scoring another big win on parental choice in education in the Tar Heel State. The bill would double the number of NC families that would be eligible for a $7,000 scholarship to send their kids to alternative private and charter schools. The legislation has sailed through the House in Raleigh already and is likely to pass the Senate soon.

If that happens, all we need now is Governor Roy Cooper, a Democrat, to sign the bill or have his veto overridden.

The Committee to Unleash Prosperity is on the radio airwaves starting today across the state explaining and promoting the Opportunity Scholarships.

[link removed]

We will keep you posted on the outcome.

[link removed]
[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fctup-fighting-for-school-choice-victory-in-north-carolina%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fctup-fighting-for-school-choice-victory-in-north-carolina%2F)
[link removed] Forward ([link removed])

3) Corrupt Teamsters Pension Fund Wants Court to End Federal Oversight
The Central States Pension Fund was founded by Jimmy Hoffa in 1955 and became a piggy bank for massive embezzlement and financing of organized crime. The Capital Research Center has a complete history of this colorful fund ([link removed]) but suffices it to say it has always been massively underfunded because of the money criminally diverted. Until now.

Solvent thanks to a massive $35.8 billion bailout from the Biden administration, the Central States Pension Fund hired Blackrock (who else?) as its investment manager and is now petitioning the court to dissolve its consent decree, which has provided court oversight of the fund since its executives were all convicted of crimes back in the Hoffa Sr. era.

We don’t know what would be more outrageous. The union asking for the end of the consent decree or a court agreeing to this shameless request.

[link removed]
[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fcorrupt-teamsters-pension-fund-wants-court-to-end-federal-oversight%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fcorrupt-teamsters-pension-fund-wants-court-to-end-federal-oversight%2F)
[link removed] Forward ([link removed])

4) Introducing the New International Misery Index
Our compatriot Steve Hanke, a Johns Hopkins University economist, has prepared an expansion of the old Misery Index of the 1970s (inflation plus unemployment).

Hanke’s Index includes measures like government debt and covers 157 countries and catalogs the disasters that bad economic policy brings to any nation that tries it.

He concludes that Zimbabwe, Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana comprise the 15 most miserable countries in the world.

On the other hand, Switzerland has the best score in the world on Hanke’s index of good economic indicators. It enshrined an enforceable “debt brake” into its constitution 20 years ago, and central government debt has fallen to 19 percent since then, down from 30 percent.

Other nations with a low misery score during 2022 are Kuwait, Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo, and Malta.

[link removed]
[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fintroducing-the-new-international-misery-index%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fintroducing-the-new-international-misery-index%2F)
[link removed] Forward ([link removed])

5) Has Europe Reached Peak Climate Craziness?
We’ve mentioned many times on these pages that the Europeans’ green energy experiment over the last two decades has been a miserable failure. Just ask Germany - which almost destroyed its industrial base because of unworkable “clean” energy.

Now the French are having their doubts. French President Emmanuel Macron has just called for a ‘“European regulatory pause” on more Green regulation, saying it could put France at a competitive disadvantage. (Ya thank?!) He railed against “those who still want to add standards and always more – but without having any more factories.” Macron also called for a new generation of nuclear reactors.

Friends of the Earth called Macron’s comments “irresponsible” and "a serious admission of failure.”

Meanwhile, the European Union in Brussels is delaying key parts of its Green New Deal after a party led by anti-Net Zero farmers came in first in Senate elections in the Netherlands.

Last fall, Germany signed an EU target to ban the sale of internal combustion engine cars by 2035. It now opposes the idea, along with Italy, Poland, and the Czech Republic. Germany’s transport minister is asking what’s the point in pushing electric cars if the power that drives them comes from burning coal.

Sadly, the outlier is Britain where the Conservative government refuses to loosen its ban on fracking and has no plans on reversing its ban on new gas and diesel cars by 2030 (and hybrids by 2035).

Isn’t it mind-blowing that the United States under Biden is now to the left of socialist France and other EU nations in climate fanaticism?

[link removed]
[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fhas-europe-reached-peak-climate-craziness%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fhas-europe-reached-peak-climate-craziness%2F)
[link removed] Forward ([link removed])

6) The Big Meltdown
Notice in the screenshots below the temperatures are basically the same, but the colors on the screen suggest a heating up of the planet.

============================================================

Know anyone else who would appreciate the Hotline? Please direct them to subscribe at: ** [link removed] ([link removed])

Have an idea for an item that should be in our newsletter? Send us any charts, statistics, heroes/villains, or humor that you’d like to see featured!
** Twitter ([link removed])
** Facebook ([link removed])
** [link removed] ([link removed])
Copyright © *2023* *Committee To Unleash Prosperity*, All rights reserved.

This email was sent to [email protected] (mailto:[email protected])
why did I get this? ([link removed]) unsubscribe from this list ([link removed]) update subscription preferences ([link removed])
Committee to Unleash Prosperity . 1155 15th St NW Ste 525 . Washington, DC xxxxxx-2706 . USA