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Breitbart: The Biden administration’s energy policies, ostensibly pushed to combat “climate change,” will erase American energy independence and prevent the development of multitrillion-dollar domestic resources, said Stephen Moore, economist and coauthor of Trumponomics: Inside the America First Plan to Revive Our Economy, on SiriusXM’s Breitbart News Sunday with special guest host Matt Boyle.

President Joe Biden, Democrats, and the broader left regularly frame the planet as entrapped within a “climate crisis” due to carbon dioxide emissions yielded by fossil fuel consumption.

Moore noted that the U.S. did not import any oil from Saudi Arabia in January.

Moore remarked, “[In] Donald Trump’s last month in office, do you know how much oil we imported from Saudi Arabia? Zero. It was the first time that happened in 50 years and it’s because [of] Trump. … It’s amazing, isn’t it? It is an incredible accomplishment. We’ve waited 50 years to become energy-independent, folks. We were finally independent.”

Moore recalled the 1973 oil crisis caused by OPEC’s embargo on oil exports to the U.S.

“Saudi Arabia had a knife at our throat,” Moore stated. “You had all sorts of gas shortages. Every time they raised the price of gas, the economy would go into recession. So we waited 50 years to become energy-independent. We finally arrived at that because Trump put America first, and he said, ‘Let’s produce all the energy we’ve got.” Read More

Breitbart: Representative Ro Khanna (D-CA) declared Sunday on CNN’s “Inside Politics” that we should not want “low-wage businesses” when pressed on small businesses who would struggle under a federal mandate to pay employees $15 an hour.

The nonpartisan Congressional Budget Office predicted raising the federal minimum wage to $15 an hour by 2025 would cost 1.4 million Americans their jobs over the next four years. Read More

Zero Hedge” Just a week after Goldman unleashed a wave of worry about tighter financial conditions with its revised forecast boosting 2021 and 2022 GDP up by 0.2% each year, to 6.8% and 4.5%respectively, as a result of a far bigger stimulus than its had originally expected ($1.5 trillion vs $1.1 trillion originally), which set the US economy directly on collision course with overheating (and prompted Goldman to pull forward its first rate hike estimate to H1 2022), other banks have started jumping on the overheating bandwagon, and today JPMorgan became the latest bank to nearly double its Covid stimulus forecast, which led the bank to aggressively boost its 2021 and 2022 GDP estimates as well.

In a note to clients, JPM’s chief economist Michael Feroli made the following forecast revisions:

• We now look for a $1.7 trillion fiscal stimulus package (up from $900 billion) to be passed in March
• Even before that kicks in, growth appears to be on firmer footing at the start of the year
• All told we now expect 6.4% (4Q/4Q) GDP growth this year and 2.8% next year
• We see the labor market getting back to full employment, or around 4% unemployment, by 2Q22…
• …and expect core PCE inflation to reach 2.0% by 4Q22, with balanced risks around the outlook
• While the outlooks for growth and inflation are moving up, Fed rhetoric appears to be getting more dovish Read More