Kudlow: Biden’s climate-conscious agenda will put the economy in permanent recession

Of course, people would ask me, “Are we in a recession?” or “When do we enter a recession?” This is my answer.

If President Joe Biden ever succeeds in implementing his clear, climate-free, fossil-free progressive agenda, he will set The US economy is in a permanent recession. This is correct.

On that day, he gleefully spoke in Japan of an astonishing shift away from fossil fuels. He is more than pleased to see gasoline prices are so high. This is when he made the remark about the “amazing transformation,” then said “God willing, when it ends we will be stronger and the world will be stronger.”

My answer is, if one day Biden’s dream comes true, then, God willing, we may still have an economy because we will never have healthy economy Without fossil fuels. a point.

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I mean, these radical progressive green plants have never really explained what is going to replace fossil fuels. As Kevin Hassett mentioned on Last Night’s Show, 70% of the electricity in this country comes from fossil fuels. They will not be replaced by unreliable wind or solar turbines.

It can be partially replaced by nuclear power, but extremist stakeholders are completely hypocritical about this and have always been against nuclear power. I’m totally interested in electric cars, but it takes fossil fuels to build them. It will require extracting fossil fuels for the sake of resources and what these radical progressives have never taken into account is the idea of ​​technological progress and innovation that makes fossil fuels – especially natural gas and liquefied natural gas – cleaner and cleaner.

Technology has made our air and water some of the cleanest in all the major countries in the world. That’s why there is no emergency. For this reason there is no immediate An existential climate threat.

Former Commissioner of the Environmental Protection Agency, Scott Pruitt, told us last night about the huge advances in carbon capture and storage, which will make fossil fuels cleaner and cleaner. Bjorn Lomborg has repeatedly told us how important it is to maintain long-term growth, which results in innovation and technological breakthroughs and avoids the huge financial costs imposed on typical working families.

Mr. Biden does not give a single idea about the working middle class. Someone just told him that higher gasoline prices would make renewables more attractive. This type of single-entry bookkeeping is the reason Biden’s progressive presidency It is such a failure and then there is the sheer nonsense that John Kerry sold at the wealthy man’s socialist rally called Davos.

Rich people, like Disney kids, complain about higher taxes. Well sure! You already have money and you have already ruined your amusement park with your awake social opinion. And if you want to pay more taxes, go ahead, and write a check to the IRS. Feel free to do so. Be my guest, but don’t punish the rest of us.

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Meanwhile, Kerry sells all the damage caused by hurricanes, floods, and natural disasters caused by climate… Trouble, the past 100 years, Deaths from natural disasters It has decreased by 99%. More climate nonsense.

Next, my new favorite story is this poor, truth-telling banker who stands in front of a fictional investor conference and tells them not to worry about any risks related to the financial climate. Here’s a quote: “Disappointed, sharp, partisan, self-serving, horrific warnings are always false warnings.”

The guy is absolutely right, but after a political uproar, his CEO pulled him out of the bank, pending investigation and I thought we got rid of the “misleading dashboard”. Well, not at HSBC, we didn’t. Here’s one last thought on the matter.

The Federal Reserve Bank of New York conducted a study last year: “How bad are weather disasters for banks?”

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“Not a big, small, or small impact” – according to Robert Drwall of the Real Clear Foundation, who went on to note that “using climate risk to drive financing flows to net zero (ie, not to fossil companies) could cause painfully high oil and gas prices, to infect It harms consumers and businesses and raises the cost of food.”

This wakes up bankers because regulators like the Securities Commission and the Federal Reserve have woken up and because of a wake-up president who has no idea how to save America. But you know what people? The cavalry is coming.