72 Comments

Theranos Syndrome

Noble concept ✔

Fits the narrative ✔

Feeds everyone's ego ✔

Is a charming psychopath ✔

Could sell snow to an Eskimo ✔

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At least she ended up in jail.

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Religious fanatics are just that - fanatics. They serve a higher power. Trivial things like "qui bono"don't really factor. I know its hard to accept that the billionaires and corporations out there are not trying to push back and buy more compliant governments, but fanatics are just so hard to reason with

Europe appears unique in its historical, epoch spanning capacity of making life miserable for its citizens and prompting them to move elsewhere. Another war at some point in the near or distant future, everything will get wrecked (again) and a generation or two of enlightenment will follow. Then folly again.

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For the life of me I can't figure out what the brain trust in Brussels is try to accomplish. I was of the opinion about 20 years ago that the Euro was economically unsustainable in its current form and that it would dissolve due to the rebellion of the southern countries in the EU.

When that didn't happen in 2008-10 time frame, I wavered a bit on that prognosis.

I have been rebuilding my confidence in my original conjecture since then but have become more emboldened since 2020 when I have seen the absolute hypocrisy of their energy plan decisions against the obvious reality/physics of their losing battle. How developed Europe constituencies have not risen up en masse against the failing effects on their industrial policy and personal budgets - is again beyond my rational thought.

Then again, watching the craven machinations of the Biden/Trudeau administrations - and the sheeple just lapping up the forcved narrative they espouse, I feel I may again be premature (but not wrong) on my prognosis for the breaking of the mass psychosis that will surely occur at some point.

I just hope we can all hang in long enough - and invest smartly to preserve/enhance our capital so it is not wasted before the govt green incentives will soon be be seen as the "emperor's clothes" parable..

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I think Tammy Nemeth had the answer on why people are not rising n our last podcast: they don't know. Most people get their news from the big news websites and the TV, and the biggest outlets all serve the transition narrative. So when the politicians tell them it's Putin's/climate change's fault your electricity bill is higher, they believe it. Up to a point, however, as we saw with some European countries a year ago.

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I know highly educated people who are absolutely convinced that russia bombed nordstream, even today. When I ask them what they think of news actually saying that nobody believes that anymore, they say its just a tactic to give the Russians a way out of the war.

Its like arguing about the color blue

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Alas, education doesn't guarantee critical thinking, which is necessary for questioning long-held beliefs, no matter how faulty. I know this from personal experience. It's darn hard to get rid of ideas you've been fed since the earliest age. Not impossible, but hard. Not many want to make the effort, but some do.

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Cui bono - not qui bono. Obviously not crucial - and you warned us about your Latin - but still...

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Oh my goodness, thank you for spotting it! Indeed, bad Latin but still. Thanks, I'll take care of it immediately.

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Fantastic piece, Irina. Once a doomsday machine gets started, it's hard to stop.

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But hopefully it would break down due to lack of oil...

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It really has become an international mental illness.

The movement of climatism has effectively used psyops to motivate millions to “take action” and has in the process wreaked havoc on the mental health and well-being of numerous young people who are bombarded with bad news amplified in their news feed daily.

Two primary techniques being used are reductionism and catastrophizing.

Reductionism takes a complex process or concept and reduces it to something simple. The perfect example comes from coveringclimatenow.org (hat tip to Irina Slav):

“Extreme heat is driven by climate change. Climate change is driven by burning fossil fuels.”

Simple right? A because B, B because C.

Catastrophizing is described as a cognitive distortion in thinking that assumes the absolute worst-case scenario will happen, regardless of how probable.

These are two of the weapons used by the growing cult of Climatism, those who believe the climate is everything, and everything is climate. If we don’t stop emitting CO2 now, in 10 years life will be on the brink of extinction, or well on its way.

Has the climate warmed over the past 4 decades? Yes, it has, by about 1°C on average. The leap is then made that the increase in CO2 must be the only explanation for the increase in temperature. Then we jump to the conclusion that warming is an “existential threat”, and the situation is so dire that we need to take immediate action. This justifies using psyops to try and move the needle on public action. But does the situation justify such manipulation?

• Our ability to describe and model the complexities of the climate system is not as advanced as it needs to be to confidently predict the future, as evidenced by key shortcomings in our knowledge of cloud formation as one example.

• The lack of detailed predictions of past climate regimes shows a lack of rigor in the normal process of model validation.

• The outcomes of limited levels of warming are not necessarily negative, and may even be positive.

• Impassioned, rigorous data analysis simply doesn’t support the idea that we are in a climate emergency at this moment.

In light of these facts, we should reject the current prophets of doom who preach destruction, name and shame heretics, subject our young people to psychological distress, and push nations to destroy their own well-being. We should focus on fixing known and addressable problems in the world and continuing to improve the lives of those still living in energy poverty. We should butt out of 3rd world countries and stop hamstringing advancement by applying pressure against using their abundant hydrocarbon energy sources.

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Thank you for the insightful comment!

Yes, we should do exactly that but it's too simple to be cool, I suppose.

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You're right, greed can easily be beaten. Insanity not so, particularly mass insanity. But insane zealots and their willing followers have, throughout history, filled the graveyards.

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That's what makes it a tragedy. But it also lowers CO2 levels, I guess.

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How many of us have been saying these climate catastrophists are mentally ill? They are deluded. By whom? The power grabbers. It’s all about control. Then it will move to population reduction, as the power grabbers have stated. None of the effort is about economics or sensible financial investment; it’s even carried out without credible design or engineering. The mass psychosis demonstrates how many people are insane and utilizing this demonstrates how dedicated the power grabbers are to ultimate rule by themselves alone.

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Indeed, power is the one immaterial gain that could motivate current behaviours. Power based on delusion. Interesting.

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Excellent article. One small, but important, point that I would suggest needs correcting. You say that "funds make money by making their clients money and common sense dictates that they’d be careful to not lose their clients money". While funds are careful not to lose money, funds (and more importantly fund managers) make more money not from making money but rather from managing money, i.e. the management fees are the game these days - AUM means everything.

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I agree. I have some managed fund investments and many (most) have underperformed yet they still clip the ticket.

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Excellent point, thanks! But if they start losing people money, there will be outflows, that is, lower AUM, lower fees, won't there? I mean, aren't they interested in keeping and growing their AUM by managing that money wisely or am I being naive?

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No, you're correct. They would certainly look to avoid losses (and avoid losing AUM). Some nuance to thate and one topical example would be the ESG trend in funds. Some large funds have specific ESG restrictions from their LPs. In some cases, those ESG restrictions could (or arguably would) impede the funds' ability to maximize returns, but the funds are more concerned about bringing those assets in under management and willl pass up on profitable investment opportunities in order to do so. In some sense - and fairness - they are simply providing what the market demands but the name of the game is grow AUM.

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Interesting timing on this one. The first notification on my phone this morning (this post was just minutes later) referenced a lengthy Wall Street Journal piece titled “Inside Exxon’s Strategy to Downplay Climate Change”. It will undoubtedly provide plenty of fuel for the “big bad oil” narrative. It’s a train which is easy to hop on these days. Pitching that the imminent end of the world has an simple, fossil fuel banning solution is incredibly seductive.

As you’ve pointed out, anything contrary to that position, no matter how well researched is summarily dismissed. And when I read about and listen to proponents of the green energy transition, I often feel as if fantastic perpetual motion machines are indeed possible. Not one ounce of skepticism regarding mining, the grid or similar to be found there.

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Great insight once again, Irina! The climate movement is full of secular humanists, who have replaced the concept of God/Gods/Creators with man being the master of all things, and as an agnostic myself, it's pretty easy to spot, as I have no dog in the God hunt.

They firmly believe that the will of man can shape and do all things, (such as turning the thermostat up and/or down on an entire planet), so they in turn have deified themselves as the only true saviors of the planet/humankind.

The parallels to organized religion are all there, where true climate believers are the righteous, sceptics are the heretics, and there is deliverance in saving the planet, and a living hell if we don't. They also applied all these same parallels to COVID, where their God is Science™ , and the prophets are the Scientists™ .

Human nature is what it is, and has been since man first walked upright and yes, we are dealing with unstable religious fanatics, who hate we heretics and wouldn't mind if we all perished.

Gods help us all....

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You're absolutely right -- the atheist religion I think someone called it. Like you, I have no dog in that hunt (what a great phrase!) and that makes it easy to see the picture. I wish it wasn't, to be honest. It's a grim picture. Somehow, we never learn from previous mistakes.

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Yep, humankind has an innate need to believe in something larger than us, and with the atheists among us it's government or Gaia, or using government as a cudgel to protect Gaia.

And that "dog in the hunt" phrase is, as far as I know, a unique Southern US colloquialism. It's not copyrighted, so feel free to use it at your leisure!

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Love it!

Indeed, we do seem to have a need to believe in something larger than ourselves and some are prone to taking this to extremes.

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OPEC’s answer to Birol: “Hold my beer!”

OPEC says IEA estimate of peak fossil fuel demand by 2030 not 'fact-based

https://www.reuters.com/business/energy/opec-says-iea-estimate-peak-fossil-fuel-demand-by-2030-not-fact-based-2023-09-14/

Let’s not forget that half of the world and most of the huge energy producers (ARAMCO anyone) have a vested interest in producing more oil to support their populations, social programs and shareholders. These entities are not just going to roll over and let the coo-coo green zealots shit them down.

So pour yourself a stiff drink and welcome to the fight of the century!

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Cheers!

The OPEC response to the IEA's latest on oil demand was the most hilarious (in a good way) thing I'd read this week, including the IEA's latest on oil demand. The time for holding punches is clearly over.

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As you lean towards thinking Birol et al are stupid vs evil, recall there is a point to “the stupidity”.

It all becomes a self fulfilling prophecy.

If you think we are in surplus,investing becomes risky.

If you think institutional investors accept lower returns, it becomes acceptable to pursue those policies.

It’s all intentional, whether an individual actor fully appreciates it or not.

Love your rants. You are becoming the George Carlin of energy transition!

It’ll age well (hopefully before we pass on!)

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Wow, to be compared to Carlin! Thank you so much!

I used to think they're just stupid. Now I suspect insanity. But I do hope you're right. Intentional sooner or later folds in on itself. Fanatics can go on till they drop dead.

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Many actually believe that Ukraine is winning the war. Not totally their fault. It's what they are told.

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i guess they just need another booster to get a better point of view then.... >:)

naa, but it helps to dwindle the enemy lines.... it's a war of attrition, after all.... ;)

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Good example. It still amazes me how many people believe what the (corporate-owned, politically-connected) media tell them. Proud to report that Bulgaria has the most media-mistrusting population in the EU... which EU media have of course classified as a very bad thing.

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I prefer my oil & gas investments continue paying dividends. As to hedge funds the only really successful ones for a retail investor I have used are ones that have specific purpose utilized at the correct time in the market, like a distressed bond fund or a low-mid cap hedged fund. Those can make anyone money some of the time. The rest exist to make themselves money. Hence the desire to be persistent in casting doubt on inconvenient fact that you experienced. They are also always paid first, before the investor. Hence their willing complicity in whatever trend is going on. I invested in a quant hedge fund, AI light, a formulaic fund no people required, and tracked 4 similar additional funds pre and post Covid and they did nothing. Breakeven after 4 years through Covid loss and 2021 gains. The same as the forever wrong economic or climate models in terms of accuracy. I can't counter your argument about crazy, in a Canadian school board they have banned all library books published before 2008 from school libraries. What we don't know can't hurt them. I was recently at a party where a green prophet was crooning about the $10,000 electrical system he put into his house to install a Stage 2 charger for his new Volt, which is only used as a runabout town vehicle. They use old fashioned ICE's for any extensive travel, we haven't got chargers in the rural location of their second home. I politely pointed out that the average Canadian family, 60% of the country, does not have $500 in their savings account and 30-40% of those are about to go underwater on their mortgage renewals thanks to sky high interest rates. How will they pay for the $10,000 to have an appropriate charging system for an EV that is only useful for getting around town in our giant country? His reply was but think of the jobs we would create. Not only crazy - stupid and deaf. We have a new politician campaigning on the premise that everything is broken, it is hard to disagree with him but also I remain skeptical given the lack of detail at this point as to how it gets fixed. Anyway you are right - crazy but please add deaf and stupid. :)

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They did WHAT to books? To think I was speaking hypothetically. What was the motive for that outrageous decision?

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Recap - government - 2020 all educational materials are to be inclusive and reflect racial/cultural/gender diversity. Boards update policy for librarians. 2023 government - books that are physically older than 15 years old aren't in good enough condition for use and should be removed. Board policy update interprets that to be anything published before 2008. In May students told books will be removed. Students go back to school and take pictures of library with empty shelves. Government says that is ridiculous. Board says they aren't removing books before 2008 and only removed bad books based on the teacher librarian assessment using a racial/gender based set of criteria. Diary of Anne Frank, Harry Potter (Rowling is a Terf I suppose) are examples. Pictures hit media/social media and now denials by everyone everywhere but the shelves are still bare. Usual SNAFU scenario in education today.

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Ah, yes, Rowling the TERF, I remember that. And Anne Frank is, what? Not diverse enough? This is spectacular stupidity, I'll give them that.

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For the ruling class in the West, climate fanaticism may not be about money per se, and most of them don’t have enough sincere conviction about anything to make it a sincere religious cause. They see it merely as the pathway to more and more power.

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Indeed, I may well have underestimated power as an end in itself as a motive, probably because I cannot understand power as an end to itself. Thanks for that point!

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I like the way you put it: “The transition push is not a grift. There are elements of grift but they are not the main story. The main story is one of mass psychosis that reaches high into decision-making levels. Indeed, it has reached the highest levels of the Western political, for want of a better word, elite.”

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There may be mass psychosis amongst our nitwit leaders, but that would fade into obscurity if it weren't for vast apparatus of the Ruling Oligarchy funding & promoting that psychosis. Just as the insane Ukraine War would have never happened were it not for the Top Level of what Neil Oliver calls "Ghouls" weren't directing it. They have ulterior motives, as always.

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As some other have pointed out, my take has evolved from pure religious-like fervor and fanaticism to answer the question qui bono. And my conclusion is that the degrowth strategy is part and parcel of the leadership. After all, the leadership will never feel the pain of degrowth directly, and will actually benefit as they will be able to split the world up more easily.

If millions, or billions, die because of these policies, they will also not feel that pain directly. At least until the revolution

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Third vote for power as the end goal. Thank you, this really helps clear the picture. But do they suspect there will be a revolution at the end of that road or are they too blind to?

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they never see the revolution. it doesn't fit their world view as they assume their inherent benevolence keeps the rest of us happy

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What a nice way to say they're idiots.

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