World’s Worst Polluter China Demands Leadership at Climate Summit: The Chinese delegation to the COP27 climate change conference in Egypt demanded a leadership role on Tuesday, despite China being far and away the worst polluter in the world, and its most voracious consumer of carbon-spewing coal power. China takes a back seat to no one when it comes to digging, importing, and burning coal and its coal consumption has only increased while Communist officials speak of cutting back someday. In September, the Chinese launched a new rail line to haul even more coal from Mongolia, along with other mineral resources. Beijing makes no secret of its intention to increase carbon emissions for at least a decade to come, after which the usually irascible climate change movement has been remarkably trusting that the authoritarian regime will snap its fingers and become instantaneously “carbon neutral.” From a political and ideological standpoint, climate activists are increasingly clear about their antipathy to capitalism, because they believe only authoritarian governments can force their citizens to make the sacrifices needed to hit zero emissions, so crowning China leader of the movement would make a good deal of sense. The Zuck Cuts Begin: Facebook Lays Off 11,000+ Employees, 13% of Total Staff: CNBC reports that Facebook CEO Mark Zuckerberg recently announced in a letter to employees that the company would be laying off 13 percent of its staff, or more than 11,000 employees. In his letter to employees, Zuckerberg stated: “I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted.” At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected. Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that. Apparently Zuck didn’t learn a thing about the telecom bust or the dot com bust. This is why people think socialism will work. They never learn from history. From Amit Tsarfati: His talk with an expert on climate (it's over an hour long and I did not watch all of it). One thing that stuck out to me: He said cooling is more of a problem than warming. HERE WE GO: Janet Yellen Calls For Crypto to be Regulated After Biden Mega-Donor Collapses Multi-Billion Dollar Crypto Ponzi Scheme: Treasury Secretary Janet Yellen called for crypto to be regulated after Sam Bankman-Fried, a 30-year-old Democrat darling, spent more than $40 million to ‘pay off’ DC elites to turn a blind eye to his Ponzi scheme through the crypto exchange he founded (FTX). Up to $2 billion is ‘missing’ after FTX collapsed this week. The company filed for bankruptcy on Friday and Sam Bankman-Fried’s private jet was seen en route to Argentina. Sam Bankman-Fried is Biden’s second biggest donor [after George Soros]. And now Janet Yellen is calling for Crypto to be regulated. "It shows the weaknesses of this entire sector,” Yellen told Bloomberg News on Saturday. FTX also happens to be related to Ukraine.
