Business
Investing In A Pandemic World
Launching an investment column in the midst of the biggest economic meltdown in investment history is a peculiar thing to do, and yet, here we are. Actually, the timing may be excellent: given the parameters and objectives of this column – how not to invest, as much as how to invest – what better time to wade in? If you’re a seasoned investor, the past few months most likely have you huddled in the basement under the stairs, sucking your thumb and rocking back and forth. The market has been pounded, and justifiably so – the strategy of governments to contain COVID-19 involves essentially shutting down large sectors of the economy. One can easily surmise that industries like tourism, air travel, etc. will be in big trouble; the problem is determining how far the rot goes – if an airline fails, or many of them, what industries does it take down with it? In a highly interconnected world, the answers are not clear.
Rather than panic and throw in the towel though (as some investors appear to have done), it is wise to stop hyperventilating if you can and consider the landscape without the lens of panic. First, the pounding in the stock market simply erased the extraordinary gains made in the past several years. As of writing, the S&P 500 Index ETF (exchange traded fund, which invests in a basket of stocks that mirrors the S&P 500 companies on behalf of individuals) is now back at a level of two years ago. Today’s data point might look like a disaster relative to the value of the portfolio 4 months ago, but that paper gain to the end of 2019 was a bit suspect anyway and most expected a market correction of some kind. Not quite like this one of course, but of some kind.
Second, governments around the world now have an arsenal of tools with which to stabilize economies. Or, more like they have a variety of smaller tools and one really big one: a great big freaking printing press to crank out money and shovel into the economy’s engines. There are many arguments as to why this is a bad idea in the long run, and they may all be right, but over the past few decades these strategies have become the norm. Government-led monetary tinkering, on ever-larger scales, saved the financial world in the 2008-9 Great Recession by flooding the world with bank-stabilizing money, and that success convinced those central bankers that this tool has no practical limits. The world is now so interlinked and dependent on central bankers’ policies that shouting about how they will destroy the financial world eventually is like a dog barking at a car. We need to think and act as though these policies aren’t going away. Because they’re not.
Governments, in this consumption-based world, can see the perils of allowing huge swathes of the global economy to perish. We may sneer = at a consumer-based culture, but we wet our pants when we consider the alternative. We need to learn to do things as cleanly as possible, but nowhere in the world does anyone want to see tourism grind to a halt, or people stop buying automobiles, or cosmetics, or any other mainstay of our economy.
As a result, those central banks and governments won’t let it happen. They will pump in money, and they will ease restrictions as soon as possible to get things back to work. It is a challenging time to consider putting money in the stock market (if you’re lucky enough to have some, and a job to boot), but some great companies are on sale in a huge way now. We can see, for example, that anything to do with the food/medicine/distribution systems is of critical importance. Given the fact that governments will print money to shove at anything the general population can’t live without, it is safe to assume those sectors will pull through. Same as natural gas and other industrially-critical materials – the whole climate change narrative has been stuffed in a trunk for the time being. No one wants to face next winter with a natural gas industry that’s gone out of business.
There is of course risk that the markets would continue to fall, based on the fact that there is so much uncertainty in the world with respect to demand erosion and recovery timing. But if the big blue-chip companies that provide our industrial lifelines go defunct and irreparably damage your portfolio, well, we’ll all have much bigger problems to worry about.
For more stories, visit Todayville Calgary
Business
Canada invests $34 million in Chinese drones now considered to be ‘high security risks’
From LifeSiteNews
Of the Royal Canadian Mounted Police’s fleet of 1,200 drones, 79% pose national security risks due to them being made in China
Canada’s top police force spent millions on now near-useless and compromised security drones, all because they were made in China, a nation firmly controlled by the Communist Chinese Party (CCP) government.
An internal report by the Royal Canadian Mounted Police (RCMP) to Canada’s Senate national security committee revealed that $34 million in taxpayer money was spent on a fleet of 973 Chinese-made drones.
Replacement drones are more than twice the cost of the Chinese-made ones between $31,000 and $35,000 per unit. In total, the RCMP has about 1,228 drones, meaning that 79 percent of its drone fleet poses national security risks due to them being made in China.
The RCMP said that Chinese suppliers are “currently identified as high security risks primarily due to their country of origin, data handling practices, supply chain integrity and potential vulnerability.”
In 2023, the RCMP put out a directive that restricted the use of the made-in-China drones, putting them on duty for “non-sensitive operations” only, however, with added extra steps for “offline data storage and processing.”
The report noted that the “Drones identified as having a high security risk are prohibited from use in emergency response team activities involving sensitive tactics or protected locations, VIP protective policing operations, or border integrity operations or investigations conducted in collaboration with U.S. federal agencies.”
The RCMP earlier this year said it was increasing its use of drones for border security.
Senator Claude Carignan had questioned the RCMP about what kind of precautions it uses in contract procurement.
“Can you reassure us about how national security considerations are taken into account in procurement, especially since tens of billions of dollars have been announced for procurement?” he asked.
“I want to make sure national security considerations are taken into account.”
The use of the drones by Canada’s top police force is puzzling, considering it has previously raised awareness of Communist Chinese interference in Canada.
Indeed, as reported by LifeSiteNews, earlier in the year, an RCMP internal briefing note warned that agents of the CCP are targeting Canadian universities to intimidate them and, in some instances, challenge them on their “political positions.”
The final report from the Foreign Interference Commission concluded that operatives from China may have helped elect a handful of MPs in both the 2019 and 2021 Canadian federal elections. It also concluded that China was the primary foreign interference threat to Canada.
Chinese influence in Canadian politics is unsurprising for many, especially given former Prime Minister Justin Trudeau’s past admiration for China’s “basic dictatorship.”
As reported by LifeSiteNews, a Canadian senator appointed by Trudeau told Chinese officials directly that their nation is a “partner, not a rival.”
China has been accused of direct election meddling in Canada, as reported by LifeSiteNews.
As reported by LifeSiteNews, an exposé by investigative journalist Sam Cooper claims there is compelling evidence that Carney and Trudeau are strongly influenced by an “elite network” of foreign actors, including those with ties to China and the World Economic Forum. Despite Carney’s later claims that China poses a threat to Canada, he said in 2016 the Communist Chinese regime’s “perspective” on things is “one of its many strengths.”
Business
The world is no longer buying a transition to “something else” without defining what that is
From Resource Works
Even Bill Gates has shifted his stance, acknowledging that renewables alone can’t sustain a modern energy system — a reality still driving decisions in Canada.
You know the world has shifted when the New York Times, long a pulpit for hydrocarbon shame, starts publishing passages like this:
“Changes in policy matter, but the shift is also guided by the practical lessons that companies, governments and societies have learned about the difficulties in shifting from a world that runs on fossil fuels to something else.”
For years, the Times and much of the English-language press clung to a comfortable catechism: 100 per cent renewables were just around the corner, the end of hydrocarbons was preordained, and anyone who pointed to physics or economics was treated as some combination of backward, compromised or dangerous. But now the evidence has grown too big to ignore.
Across Europe, the retreat to energy realism is unmistakable. TotalEnergies is spending €5.1 billion on gas-fired plants in Britain, Italy, France, Ireland and the Netherlands because wind and solar can’t meet demand on their own. Shell is walking away from marquee offshore wind projects because the economics do not work. Italy and Greece are fast-tracking new gas development after years of prohibitions. Europe is rediscovering what modern economies require: firm, dispatchable power and secure domestic supply.
Meanwhile, Canada continues to tell itself a different story — and British Columbia most of all.
A new Fraser Institute study from Jock Finlayson and Karen Graham uses Statistics Canada’s own environmental goods and services and clean-tech accounts to quantify what Canada’s “clean economy” actually is, not what political speeches claim it could be.
The numbers are clear:
- The clean economy is 3.0–3.6 per cent of GDP.
- It accounts for about 2 per cent of employment.
- It has grown, but not faster than the economy overall.
- And its two largest components are hydroelectricity and waste management — mature legacy sectors, not shiny new clean-tech champions.
Despite $158 billion in federal “green” spending since 2014, Canada’s clean economy has not become the unstoppable engine of prosperity that policymakers have promised. Finlayson and Graham’s analysis casts serious doubt on the explosive-growth scenarios embraced by many politicians and commentators.
What’s striking is how mainstream this realism has become. Even Bill Gates, whose philanthropic footprint helped popularize much of the early clean-tech optimism, now says bluntly that the world had “no chance” of hitting its climate targets on the backs of renewables alone. His message is simple: the system is too big, the physics too hard, and the intermittency problem too unforgiving. Wind and solar will grow, but without firm power — nuclear, natural gas with carbon management, next-generation grid technologies — the transition collapses under its own weight. When the world’s most influential climate philanthropist says the story we’ve been sold isn’t technically possible, it should give policymakers pause.
And this is where the British Columbia story becomes astonishing.
It would be one thing if the result was dramatic reductions in emissions. The provincial government remains locked into the CleanBC architecture despite a record of consistently missed targets.
Since the staunchest defenders of CleanBC are not much bothered by the lack of meaningful GHG reductions, a reasonable person is left wondering whether there is some other motivation. Meanwhile, Victoria’s own numbers a couple of years ago projected an annual GDP hit of courtesy CleanBC of roughly $11 billion.
But here is the part that would make any objective analyst blink: when I recently flagged my interest in presenting my research to the CleanBC review panel, I discovered that the “reviewers” were, in fact, two of the key architects of the very program being reviewed. They were effectively asked to judge their own work.
You can imagine what they told us.
What I saw in that room was not an evidence-driven assessment of performance. It was a high-handed, fact-light defence of an ideological commitment. When we presented data showing that doctrinaire renewables-only thinking was failing both the economy and the environment, the reception was dismissive and incurious. It was the opposite of what a serious policy review looks like.
Meanwhile our hydro-based electricity system is facing historic challenges: long term droughts, soaring demand, unanswered questions about how growth will be powered especially in the crucial Northwest BC region, and continuing insistence that providers of reliable and relatively clean natural gas are to be frustrated at every turn.
Elsewhere, the price of change increasingly includes being able to explain how you were going to accomplish the things that you promise.
And yes — in some places it will take time for the tide of energy unreality to recede. But that doesn’t mean we shouldn’t be improving our systems, reducing emissions, and investing in technologies that genuinely work. It simply means we must stop pretending politics can overrule physics.
Europe has learned this lesson the hard way. Global energy companies are reorganizing around a 50-50 world of firm natural gas and renewables — the model many experts have been signalling for years. Even the New York Times now describes this shift with a note of astonishment.
British Columbia, meanwhile, remains committed to its own storyline even as the ground shifts beneath it. This isn’t about who wins the argument — it’s about government staying locked on its most basic duty: safeguarding the incomes and stability of the families who depend on a functioning energy system.
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