ESG takes the market out of the market.

[dan_bgblue]

These two lessons are best demonstrated in the Biden administration’s new obsession: the Environmental, Social and Governance, or ESG, rating system.

ESG is a political score created by social and environmental activists, the United Nations, European and global interests and now supported by many of the largest U.S. financial services companies. ESG measures how compliant an entity needing capital is to a subjective set of political factors.

In theory, it is an investment strategy. In practice, it is an invisible fist that bypasses the legislative process to force a political agenda on society. It is the epitome of the saying, "He who has the gold makes the rules."

Therein lies the problem. ESG intermediates outside interests into the decisions of private corporations, and now even state and local governments, to coerce behavior. It is an effort that uses backdoor channels to implement public policy that could never make it through Congress because Americans would reject it.

For example, the Green New Deal didn’t pass in Congress, but that didn’t stop those advocating its passage from pushing forward their radical agenda. They simply changed the forum from Congress to corporate America.

Linkage (https://www.foxbusiness.com/politics/biden-quiet-green-new-deal-corporate-america)

[CitizenBBN]

This has been a newly popular avenue for fascism. It's been used to try to shut down gun stores for several years now, denying them access to merchant card processing, loans, etc.

The trend is very disturbing. IMO you can also see it in the policies on Facebook, Twitter, Google, etc. They are the modern day roadway, the modern day town square. All now under private control with no Bill of Rights, no constitutional protections.

It is effective in the same way the monopolies and oligopolies of the 1800s are effective. But instead of busting these trusts up like Teddy Roosevelt did, government is embracing them as a way to further extend influence and further concentrate power.

[MickintheHam]

This also makes the shareholders of companies who are shunned by ESG evaluations more valuable to these companies potentially enhancing shareholder returns. Such companies are making returns sweeter. You’ll find gun manufacturers and cigarette manufacturers in my holdings.

[dan_bgblue]

Gee The Inflation Reduction Act sounds like a good piece of legislation until one finds out what it actually is.

Snooping into your personal finances (https://www.foxbusiness.com/politics/sen-hagerty-slams-biden-irs-calling-bank-data-just-like-chinese-communist-party)

is not a description of IRA that makes me happy

[dan_bgblue]

Manchin-Schumer 'Inflation Reduction Act' is really the Manufacturing Reduction Act (https://www.foxbusiness.com/politics/manchin-schumer-inflation-reduction-act-really-manufacturing-reduction-act)

[VirginiaCat]

I honestly do not see how anyone that is not totally Woke Left Environmentalist can support that bill???

[dan_bgblue]

https://www.foxbusiness.com/politics/automakers-70-ev-models-dont-qualify-tax-credit-under-senate-bill

[catmanjack]

The tax bill matter little, the bigger question is how will the sector of population that is so reliant on my tax money but an EV.
When your income is below poverty how will they afford 50k+?
This while EV movement is a political drive that makes very little sense, but sense is not what Democrats have.

[VirginiaCat]

In all fairness, at some point the economic cost tipping point will come into play and the prices will drop to comparable to today's economy vehicles.

That is not my issue. My issue is range. Until you can get over 500 miles on a charge before having to stop they simply do not work for people making trips. Or in rural areas. And it still requires fossil fuels to charge them.

[catmanjack]

The problem I see is that your OEMs are making these EV’s as luxury vehicles so the price will not drop.
Is Ford making a EV focus?