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The Joe Biden Jobs Purge | National Review

(Kevin Lamarque/Reuters)
No, no, the Biden administration does not represent some sort of return to Bolshevism (nothing like), but
something about its willingness to insist on ‘short-term’ sacrifice in pursuit of a radiant green future unmoored to any kind of reality is faintly reminiscent of the ruthlessness of an earlier generation of millenarians red rather than green a century ago.
President Biden climate advisor Gina McCarthy said Wednesday that the administration is “not asking for sacrifice” with its executive order to shut down construction of the Keystone XL pipeline.
According to the Keystone XL website, the project, initially proposed more than a decade ago, would have sustained about 11,000 U.S. jobs in 2021 – including 8,000 union jobs – and generated $1.6 billion in gross wages. ....

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The Capital Letter: Week of December 14

The Capital Letter: Week of December 14
Andrew Stuttaford
© Jonathan Ernst/Reuters
So, as I write (12:31 p.m.), it’s still wait and see when it comes to a stimulus package.
Stocks slipped from record highs on Friday as lawmakers rushed to bridge differences on additional coronavirus stimulus measures.
The Dow Jones Industrial Average fell about 150 points, while the S&P 500 dipped 0.4%. The Nasdaq Composite traded 0.1% lower. All three indexes touched new intraday highs in morning trading after closing at records in the previous session.
Leaders on Capitol Hill said they are close to an agreement that would provide $900 billion in additional aid. The talks, which have stretched on for months, are up against the wire, with federal funding lapsing at 12:01 a.m. ET on Saturday. ....

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The Capital Letter: Week of December 7

The Capital Letter: Week of December 7
Andrew Stuttaford
© Carlo Allegri/Reuters
The NASDAQ market site displays an AirBnb sign featuring CEO Brian Chesky on their billboard on the day of the company s IPO in Times Square in New York City, December 10, 2020.
Yes, U.S. markets have been a little weaker in the last few days, and as I write (11:55 a.m.), are down again this morning, but signs of a bubble aren’t too difficult to find. There is, for example, the continuing demand for “blank-check” companies or, less euphemistically, SPACs (special purpose acquisition companies).
There’s been more than $125 billion in special purpose acquisition company, or SPAC, merger activity this year, more than quadrupling the 2019 total. And it’s only expected to accelerate in 2021. ....

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