Real Money (The Street) Reports: "As the Grunge movement was gaining strength in 1992, Dave Markey released his seminal documentary 1991: The Year Punk Broke. By "broke" he meant gained a larger audience as the film's star band, Nirvana, clearly did that year, but I will issue my own corollary for the financial markets. 2022: The Year Woke Went Broke. It is a nice rhyme."

"So, what we learned this year was that all of the green ESG plays -- electric vehicles, solar -- were really just speculative enterprises powered by free money. Thanks to an extraordinary once-in-a-generation tidal wave of inflation, the world's central bankers have acted ... and money isn't free anymore."

"The issue isn't that the entrepreneurs started these companies, it is that the investment banks flooded them with your capital while pushing the ridiculous apocalyptic narrative, aided by complicit folks in the financial media, that somehow the 4.5 billion-year-old Earth was melting. Ask the folks in Buffalo if they believe in global warming this week. But, the narrative went, by investing responsibly in sustainable businesses you could actually grow your account value and feel good doing so."