Headline Of The Year – And Maybe The Decade

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Unleash Prosperity Hotline
Issue #678
12/20/2022
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1) Headline Of The Year – And Maybe The Decade
Global coal use hits all-time high
IEA report

According to the analysis:

"In 2022, high natural gas prices led to significant fuel switching to coal in electricity generation in Europe, although both gas and coal generation increased as the growth of wind and solar was insufficient to fully offset lower hydro and nuclear power output."

Coal power generation will rise to a new record in 2022, surpassing its 2021 levels. This is driven by robust coal power growth in India and the European Union (EU) and by small increases in China - and it comes despite a decline in the United States.”

In simple English, what this profoundly embarrassing report is telling us is that because of the left’s lunatic war on the production of natural gas – one the cleanest and cheapest forms of electric power generation - the price of natural gas surged in 2022 in almost all parts of the world. As a result, “a wave” of businesses and homeowners in Europe and elsewhere moved away from clean burning gas to more competitively priced alternatives - chiefly, coal - even though coal is dirtier. Coal use is also up because the left also hates nuclear power, which emits close to zero greenhouse gases.

In other words, despite spending hundreds of billions of dollars subsidizing fringe energy sources like wind and solar power, the world is nevertheless burning record amounts of coal.

Never before in world history has so much government money been spent/wasted to accomplish the precise opposite of what was intended – i.e., a lower carbon atmosphere. It’s like they grabbed the football and ran into the wrong end zone.

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2) Welfare Pays More Than Work In Many States

In case you missed the widespread news coverage, our latest CTUP paper finds that government payments and free health care benefits can pay more than the annual equivalent of a $100,000 job in three states, and the equivalent of an $80,000 a year job in 13 states.

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The national average of unemployment Obamacare subsidies for a family of four with two parents receiving UI benefits is the equivalent of more than $60,000 a year in cash and benefits.

In roughly half the states today, while receiving UI and health insurance subsidies, an unemployed couple can earn more than a firefighter, a construction worker, a retail clerk, or a machinist earns from working 40 hours a week.

No wonder working people feel like they are getting ripped off.

The full paper is available here: [link removed]

And a New York Post story on it is here: [link removed]

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3) Did A Million Second Quarter Jobs Disappear?

The Federal Reserve Bank of Philadelphia issued a report on second-quarter 2022 jobs last week found:

"In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. CES estimated net growth of 1,047,000 jobs for the period."

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Senator Rick Scott fumed on Twitter:

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We aren’t entirely sure which of the government’s two jobs reports is more accurate. It’s clear that for now, it is still a healthy jobs market and employers are still looking for qualified workers - albeit at a slower pace.

Hiring is clearly going to slow down in 2023 as we combat the winds of recession. It’s wise for unemployed workers (see item 2 above) to get a job while they are still out there.

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4) Chart Of The Day – As Congress Prepares To Pass Another Massive Omnibus

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5) The Hypocrisy Of Big Tech Is Breathtaking

Liberal journalists are all atwitter at Elon Musk’s suspension of the accounts of some journalists for publicly sharing data on the physical location of Musk himself and other Twitter users.

Ted Slater, the editor of the aptly named Spiked website, is amused:

All of a sudden, America’s corporate media have woken up to the threat of Big Tech censorship. After years of ‘liberal’ journalists agitating for Twitter, Facebook and the rest to censor people they dislike, repeating all the same platitudes about ‘misinformation’ and ‘hate speech’, insisting that being banned from the digital public square is really no different to being banned by a fast-food joint, they’re now all reaching for their JS Mill and railing against the tyranny of Silicon Valley...

Earlier this week, Twitter – now owned by the supposedly pro-free-speech Elon Musk – suspended a bunch of accounts on the grounds that they had ‘doxxed’, or revealed the location of, Musk and his family. First, an account that tracked the travels of Musk’s private jet, using publicly available flight data, was banned. Then a group of nine journalists who were covering the story – for the New York Times, CNN, the Washington Post and other elite outlets – had their accounts suddenly suspended...

The backlash was swift and pious. In a statement, CNN blasted the ‘impulsive and unjustified suspension’ of one of its journalists. The New York Times demanded a thorough explanation. Meanwhile, Democratic congresswoman Alexandria Ocasio-Cortez, another sudden convert to the cause of online freedom, branded the suspensions an act of ‘proto-fascism’.

Musk quickly realized his mistake after polling his followers and reinstated the account. We wish that could be said for “woke” journalism, which shows no signs of stopping the censoring of people it views as “undesirable.”

To Musk’s credit, he has allowed the publishing of the Twitter Files, which not only reveals the alarming extent of Twitter’s erstwhile censorship regime but how it was shaped by letting the FBI send over lists of accounts and tweets they wanted to be dealt with, including satirical sites like the Babylon Bee.

We oppose regulating social media sites, but many conservatives are so frustrated with unfair treatment that they are willing to make the never-wise decision to bring in the regulators. The smarter move for the new Republican Congress would be to prohibit any government employee who directs a private company to censor First Amendment-protected speech – with strong penalties for violators.

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6) Sorry Santa

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