Texas Frozen by Biden - Wall Street Lunacy
If you want to see what the future will be like under the Great Reset pushed by Biden and the Davos elite, just look at what’s happening in Texas right now. As a strong winter storm brings below freezing temperatures, with snow and ice over most of the state, there are massive electrical shortages causing untold hardship and death. More than 4 million people are out of electricity and several deaths have already been blamed on the shortages. The state’s cattle, dairy, and poultry farmers face a growing disaster the longer power is out.
We told you this would happen in a video earlier this week.
We will continue to develop and follow this story.
How is it that one of the most productive regions for energy in the world finds itself without the ability to produce enough electricity? The answer is two- fold. Texas was steered into solar and wind power by Wall Street and U.S. government policies to promote “green” energy. Despite being a major producer of oil and natural gas, and having two major nuclear power stations, Texas reduced its use of these reliable power sources and now depends on wind power for 25% of its electricity production and another few percent on solar. Now the windmills are frozen and the solar farms are covered in snow. Not only are these sources unreliable, they are not, were not, and never will be, economical. The push for these “alternative” sources of power is a financial scam fueled by government subsidies and Wall Street speculation.
But before you say let the free market decide on what energy sources should be developed, look at the other cause of the Texas debacle: deregulation. Starting under the Clinton administration and accelerating under George Bush and Obama, Wall Street, with the backing of the federal and state government, pushed the deregulation of energy, particularly electrical energy. Remember Enron? Rather than see the production of energy, especially electricity, as vital to the functioning of the economy, Wall Street saw it as a pretext to generate speculative financial instruments. This completely useless financialization redirected investment from improvements in the production and reliability of electricity production infrastructure, including electrical grids, into the financial markets of New York, London and elsewhere.
The conditions for this double whammy of idiocy were set with the collapse of the Bretton Woods system in 1971 which ushered in the simultaneous adoption of the Malthusian idea of zero-growth and free-trade deregulation. What seemed like radical extremism then, has become the mainstream dogma of the both the left and the right today.
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