2/15/23 CounterPoints: Bernie Social Security, Pompeo JFK Files and Snowden, BBC Raided for Modi Doc, Texas Woke Tax, Gretchen Whitmer Ford Plant, Cost of Thriving, Ohio Derailment Coverup
Bernie Sanders' bill to boost Social Security Benefits, interview with Mike Pompeo on JFK files and Edward Snowden, Indian authorities raiding BBC offices, Texas and Florida rejecting 'woke' ESG banks, Gretchen Whitmer accepting EV Battery factory jobs, rising cost of inflation, Ohio train derailment coverup
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Quick takeaways
Ford's $2.5 billion investment in a new battery plant in Michigan will create jobs and support clean energy.
Virginia Governor Glenn Youngkin's decision to withdraw from hosting Ford's battery plant sparks debate on economic advancement vs. geopolitical concerns.
Texas and Florida's refusal to work with ESG banks demonstrates a political choice with economic implications.
Deep dives
Ford plans to invest $2.5 billion in battery plant in Michigan, creating thousands of jobs
Ford has announced its plans to invest $2.5 billion in a new battery plant in Marshall, Michigan, which is expected to create 2,500 direct jobs and support an additional 10,000 jobs in the area. The investment was a result of Michigan winning the competition against other states. The new plant aims to boost Ford's production of electric vehicles and support the growing demand for clean energy. This investment is seen as a positive economic boost for the state and aligns with the global trend toward sustainable transportation.
Glenn Youngkin's withdrawal of Virginia from Ford's battery plant competition raises eyebrows
Virginia Governor Glenn Youngkin's decision to withdraw Virginia from the competition to host Ford's new battery plant has caused speculation and criticism. Some suggest that Youngkin's move was merely political posturing to appear tough on China, as Ford ultimately announced its investment in Michigan. Critics argue that the decision could result in missed economic opportunities for the state and that it reflects a misplaced understanding of the evolving clean energy sector. The move has sparked a larger debate on the balance between economic advancement and geopolitical concerns.
Texas and Florida pay higher costs for refusing ESG-compliant banks
Texas and Florida's refusal to work with major banks that embrace environmental, social, and governance (ESG) standards has resulted in higher costs for their bond floats. The decision to prioritize their stance against ESG led to paying up to 55 basis points higher, amounting to hundreds of millions of dollars in additional expenses for the states. This illustrates a political choice to push back against perceived Wokeness, but also highlights the economic impact and hidden tax associated with such decisions.
Michigan's success in attracting Ford's battery plant draws attention amid criticism of Virginia
Michigan's victory in attracting Ford's battery plant has shone a spotlight on Virginia Governor Glenn Youngkin's decision to withdraw Virginia from the competition. The move has drawn criticism, with some questioning the potential missed economic opportunities and suggesting that it reflects a flawed understanding of the evolving clean energy sector. The comparison between Michigan's success and Virginia's decision has sparked discussions on the balance between economic growth and political posturing.
The Cost of Thriving Index
American Compass released the Cost of Thriving Index, a measurement that takes into account the ratio of nominal costs to nominal wages to assess the changes in the average American's economic situation. The index reveals a dramatic increase in costs since 1985, while wages have not kept pace. This highlights the loss of economic security and the rising anxiety faced by individuals and families. It also underscores the need for policymakers to address the affordability crisis in areas such as education, healthcare, and housing.
Railroad Infrastructure and Safety
The recent chemical disaster in East Palestine, Ohio, raises questions about railroad infrastructure and safety measures. The disaster highlighted issues with rushed inspections and inadequate maintenance. Railroaders have expressed concerns about the lack of manpower, neglected preventive maintenance, and outdated safety systems. The powerful rail industry and its influence on government regulations have also been scrutinized. This disaster serves as a reminder of the urgent need to address safety issues in the transportation sector and prioritize public welfare over profit.
Ryan and Emily discuss Bernie Sanders introducing a bill to boost Social Security Benefits, an interview with Mike Pompeo over JFK files and Edward Snowden, Indian authorities raiding BBC offices after broadcast of Modi documentary, Texas and Florida declaring they won't work with "woke" ESG banks, Gretchen Whitmer accepting the 2,500 jobs for a new EV Battery factory in Michigan after Glenn Youngkin refused in his own state, the ever rising cost of Inflation on Families, and rail road worker Matthew Weaver joins us to talk about the Ohio train derailment coverup.