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Economy Uncategorized

Let’s talk Turkey. Joey boys record.

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One of the white house clowns put out a list of Joey boys accomplishments the past two years. But I have to say I’m a bit puzzled. For some reason a complete list wasn’t posted. So I thought that I will include just a few of the items that somehow got left off. How these items were not on this impressive list amazes me.

Airplane travel is 46% higher this year over last year. And last year was 38% higher than the year before. How about gasoline. Still on average $1.50 a gallon higher than 2020. And how can we forget inflation?

Inflation at 40 year high, and the administration brags how they got it under control at 8%. I’m sure that  put you at ease. Having Turkey tomorrow? Only 20% higher than last year. Last year 15% higher than the year before. And those 4 or 5 million undocumented?

Thanks to Joe you can invite one of the millions of undocumented folks over for Thanksgiving. Maybe they can show you their new phone the government gave them for free. And Joe’s great record on Crime.

Mass shootings are up this year and last year up over the year before. A record to truly be proud of. So in closing it looks like the only thing that Joe can claim he brought down was wages and spendable income after you figure in inflation. Walk and be proud Joe.

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Categories
Economy Links from other news sources.

Thanks Joe Biden and Tim Ryan. Federal Trade Report: Globalization Cripples American Towns as Free Trade Moves Jobs Overseas, Crushes Wages.

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We saw the sucking sound of Jobs start under the second Bush. Gave Tax credits to American companies that created jobs. Only problem was that the companies created them overseas and off shore.

Obama really picked up on that. The job loss was huge. Progressives jumped on Trump when GM announced the final closing of several plants including one in my back yard. But under my Congressman Tim Ryan the area lost 25,000 manufacturing jobs during his tenure.

Thanks Bush II, Obama, and Biden.

Employment Effects
A large body of literature addresses the impact of trade and trade policy shocks on levels of employment
across geographic regions, industries, and workers. Much of this literature has documented that
increased U.S. imports from lowwage economies reduce domestic employment in importcompeting
industries. Research broadly finds that U.S. workers in importcompeting industries experienced
significantly higher rates of unemployment or underemployment, transition to different industries or
occupations, or exit from the labor force. The effects of exports on employment remains largely
underresearched, but existing studies suggest that exporting may positively impact employment
outcomes.


Employment effects across different education and skill levels: Existing research finds evidence
that trade shocks have led to different employment outcomes for workers across education and
skill levels. The literature is clear that increased offshoring and import competition from low
wage economies reduced employment for manufacturing workers commonly defined as lowskill.
However, other dimensions, including effects of exports or services trade, remain relatively
underresearched, with only a small number of studies.


Employment effects by gender: Literature on the impact of trade on the employment and labor
force participation of men and women in the United States links trade exposure to the gender
composition of the labor force in different industries, showing that men are more likely to work
in importcompeting firms that tend to contract with increased import competition. The
literature shows inconclusive effects of trade liberalization on labor force participation by gender.


Employment effects by race/ethnicity: Literature on the impact of trade on employment and
labor force outcomes by race or ethnicity is limited and predominantly focuses on measuring
impacts of imports on Black and Hispanic workers, but not other racial minority groups. The
limited literature shows that, in the face of trade shocks, Black and other Nonwhite workers fare
worse than their White counterparts.


Wage Effects

A substantial body of research has documented the effects of various trade policy shocks on wages and
income across different groups of workers. Researchers have found that wage and income vary
significantly depending on workers’ exposure to trade shocks, whether workers change occupations or
industries in response to a shock, as well as worker characteristics such as educational attainment,
gender, or race.

Wage effects across different education and skill levels: Several studies find that import
competitioninduced transitions between industries and occupations significantly reduce
earnings for workers and these adverse wage effects are especially pronounced for noncollege
educated workers or those previously employed in manufacturing jobs. Conversely, college
educated workers and nonproduction manufacturing workers such as managers experience
lower or no wage or income loss following tradeinduced employment transitions.

Wage effects by gender: Literature on the impact of trade on wages by gender suggests that the
gender wage gap declines in the presence of import competition. This result is generally not due

Executive Summary
United States International Trade Commission | 19

to increases in wages of women but rather declines in wages of men who switch out of import
competing sectors.

Wage effects by race/ethnicity: Literature on the impact of trade on wages by race or ethnicity is
limited and predominantly focused on measuring the impact of imports on Black and Hispanic
workers, but not other minority groups. The limited literature suggests that import competition
had a large and disproportionately negative effect on wages of minority

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Categories
Daily Hits. Economy Links from other news sources. Opinion Reprints from others.

Team Biden doesn’t really care about energy prices.

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Editorial from The Washington Times.

Their policies are aligned to fight climate change — not lowering your prices at the pump

Earlier this week, President Biden just couldn’t resist exposing either his ignorance about energy, his hostility to affordable energy, or both.

He threatened oil companies with a tax on their profits. Such a tax would, of course, be paid for by consumers and — rather than increase production and reduce prices, like Mr. Biden says he wants — would do the exact opposite and reduce production and increase prices of gasoline and other oil products. Here’s a news flash: The president and his team don’t care.

The call for a tax on profits is the just like the proposed suspension of the federal gas tax, the very real emptying of crude oil from the Strategic Petroleum Reserve or the limits on exports that are currently being considered. All of these actions — and the associated tiresome rhetoric — are all intended to convince the voters that Team Biden really cares about high gasoline prices.

They don’t. They are perfectly content to have you pay high gas prices. There’s no way any of their fantasies about climate change can happen without high energy prices, specifically high oil and natural gas prices.

They just don’t want you to blame them for those prices. So, naturally, they are looking around for someone else to blame. It is no surprise that they’ve landed on oil companies.

Unfortunately for them, oil companies don’t set the price of oil. Neither does any one particular producer or consumer. The price is set in a global market with lots of buyers and lots of sellers who agree on a price and then exchange cash for oil. This sort of thing happens in all kinds of markets all over the planet each day.

Prices of oil are going up because demand is high relative to supply. Despite the lie the president tells you, this is not because of the war in Ukraine. That conflict has not prevented any Russian oil from coming to the global market.

The imbalance between demand and supply is primarily because of under investment in oil fields over the last decade. For example, Josh Young, the chief investment officer at Bison Energy, notes that investment in U.S. oil fields peaked in 2012 at about $16.5 billion dollars and dropped as low as $3.9 billion in 2021.

Last summer, the International Energy Agency concluded: “Our estimates for 2022 suggest that today’s aggregate fossil fuel investment is broadly aligned with the near-term needs of a scenario in which countries hit their climate pledges.”

In other words, the IEA acknowledges the reduced investment in oil and gas projects and considers it a good thing because that lack of investment will ultimately mean less oil and natural gas and, consequently, help countries meet their climate pledges. The IEA — like Team Biden — is mostly unconcerned about high energy prices.

While they are not responsible for global markets, Team Biden is responsible for the relentless downward pressure on American production of oil. Their emphasis on environmental, social, and governance-based investing means that investors are steered away from investments in oil and natural gas. The now routine propaganda — mostly from the government — about the mythology of net-zero greenhouse gas emissions and an energy “transition” that has destroyed Europe’s energy system and is chewing through its economy further drives under investment in oil and natural gas.

Is there a different answer?

Well, the Committee to Unleash Prosperity has estimated that American oil production would be about 30% higher (or about 3 million barrels a day more) if Team Biden had just kept President Donald Trump’s policies in place.

That would be too easy. Team Biden has no intention of addressing the underlying problem of national and global under investment in oil and gas production and refineries over the last few years. To the contrary, their actions — weaponizing financial regulators like the Securities and Exchange Commission against affordable energy, not allowing production on federal lands, even something as trivial as canceling the Keystone pipeline — indicate that they intend to make the problem worse.

If he were serious about the problem, Mr. Biden — or whoever is president nowadays — would clearly and directly reject notions of net zero, let go of the fantasy of banning gasoline-powered cars, and cease the jihad against oil and gas being waged by its own financial regulators.

The chances of all that happening are zero.

Mr. Biden and his crew want high gas prices. Those prices serve their purposes. All of the hand-waving and hand-wringing about oil companies and their profits, and all of the show associated with draining pretty much all of our strategic reserves, is a dangerous charade.

 

 

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Categories
Reprints from others. The Courts Uncategorized

Federal Judge: Biden Admin Must Cooperate With Social Media Collusion Lawsuit.

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Reprint from Pagegoo

Missouri and Louisiana filed a lawsuit against members of the Biden administration alleging collusion with Big Tech companies to censor speech.

The lawsuit alleges that “the Biden Administration colluded with and pressured social media giants Meta, Twitter, and Youtube to suppress and censor free speech on topics like the Hunter Biden laptop story, the Lab Leak Theory, and more.”

Attorney General Eric Schmitt provided examples of censorship in a Twitter thread.

A federal judge just ruled that the Biden administration must comply with the lawsuit and provide information.

Epoch Times reported:

A federal judge ordered the Biden administration on July 12 to comply with information requests in a lawsuit brought by Missouri and Louisiana officials about alleged federal government collusion with social media companies to suppress important news stories in the name of fighting so-called misinformation.

The lawsuit could help bring to light the Biden administration’s behind-the-scenes efforts to discourage the dissemination of information related to the advent of the CCP (Chinese Communist Party) virus that causes the disease COVID-19 and the ongoing Hunter Biden laptop scandal, according to Eric Schmitt, Missouri’s Republican attorney general.

According to court documents, the states allege that the administration “colluded with and/or coerced social media companies to suppress disfavored speakers, viewpoints, and content on social media platforms by labeling the content ‘disinformation,’ ‘misinformation,’ and ‘malinformation.’”

Missouri Attorney General celebrated the ruling.

“A federal court granted our request for discovery & documents from top ranking Biden officials & social media companies to get to the bottom of their collusion to suppress & censor free speech.

No one has had the chance to look under the hood before – now we do.”

 

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Categories
How funny is this? How sick is this? Opinion Politics

How Joe Biden is like America’s founding fathers — and yes I’m kidding.

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I saw the Salon article yesterday and I finally stopped laughing long enough to write this little diddy. Washington was a military leader who led us to victory. Biden led us to the Afghanistan retreat. Jefferson was one of the authors of the Declaration of Independence. Biden was a plagiarizing author.

Now if the author just showed the defeats between the three, and how Washington and Jefferson owned slaves and Joe had KKK friends, I could see common ground. But to compare Joe’s destroying of the Trump economy with some of the great things the founding fathers did? Laughable.

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Categories
Economy Leftist Virtue(!) Opinion Politics Reprints from others.

Biden Backer Cardi B Asks: When They Going to Announce We Going Into a Recession

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This article first appeared on Breitbart.

The left’s stupidity never ceases to amaze me. See below.

Rapper and Joe Biden supporter Cardi B took to Twitter on Sunday to ask when “they going to announce” that the United States is “going into a recession.”

“When y’all think they going to announce that we going into a recession?” Cardi B wrote Sunday in a tweet, which has since garnered more than 120,000 likes, and over 16,000 retweets.

Cardi B’s tweet also received thousands of replies, including many Twitter users who reminded the rapper that she had encouraged her fans to vote for President Joe Biden.

Indeed, Joe Biden sat down for an Elle magazine interview with rap star Cardi B jut months before the 2020 presidential election.

Watch below:

“Thanks for helping elect Joe Biden,” another quipped.

Another Twitter user responded to those retorting, “But didn’t you vote for Biden?” saying, “Y’all realize literally MILLIONS of people regret voting for Biden right?”

“You don’t need ‘them’ to tell you anything you can see for yourself,” another tweeted.

A host of other Twitter users took to the comment section to claim that the U.S. is not in a recession.

“Inflation doesn’t mean recession,” one wrote.

“A recession is defined as 2 consecutive quarters of negative GDP growth, so we’d only know we are in a recession after it’s already started, and after the economic data comes in for those 2 quarters,” another tweeted.

A strong majority of Americans, however, believe that the U.S. economy is experiencing a recession, according to a recent poll from the Economist and YouGov.

This is bad news for Biden, who just last week declared that a record high number of Americans were comfortable. Moreover, the president’s approval ratings have tanked, as citizens have overwhelming rejected the Biden administration’s handling of gas prices, inflation, and the economy.

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Biden Pandemic Economy Just my own thoughts

Biden adds 600 billion to the deficit but claims he will lower it by 1.5 trillion.

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January, February, and March saw the three highest months ever of deficit spending. Also Biden spending is over 600 billion n the red. Forget the fact that the Treasury is seeing record breaking revenue coming in. So why is Joe saying that he will cut the deficit by $1.5 trillion? Trump and congress had allocated over 2 trillion for the masks, gowns, ventilators, etc. Items that Obama-Biden never replenished. according to CNBC.

So those trillions are now gone. That’s why Joe’s asking for hundreds of billions more. For COVID, Ukraine, etc.

 

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Categories
Corruption How sick is this? Politics

Biden’s Secretary of State Tony Blinken Says There is “Greater Stability and Peace” for Women in Afghanistan Under Taliban!

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Soros Connected Tony Blinken, Biden’s Secretary of State, claims women in Afghanistan are better off under the Taliban in that there is “greater stability and peace”.

By Joe Hoft for THE GATEWAY PUNDIT April 29, 2022 at 10:12am

Tony Blinken was in front of the US Senate on Wednesday and he shared that women in Afghanistan are better off under the Taliban than before.  Here is what he said:

The answer would have gotten fact-checked into oblivion had the Babylon Bee offered it as a satire:

BLINKEN: The state of play is, ah, extremely mixed, to the negative for women [crosstalk].

GRAHAM: What’s the upside for women?

BLINKEN: The only upside that we’ve seen at all is that, somewhat ironically you might say, there is in the country at large greater stability and relative peace than there’s been.

Hotair responded to this comment from Blinken:

Jazz commented to me behind the scenes that this sounds like a story from the Onion. Unfortunately, Secretary of State Antony Blinken really made this argument yesterday in his Senate testimony. “What is the state of play for women in Afghanistan right now?” asked Sen. Lindsey Graham after Blinken insisted that he didn’t regret the pullout of American forces from the country. “What’s the upside?”

Hotair went on to point out:

…the US exit didn’t end the war in Afghanistan, but just our involvement in it. The Taliban is still fighting against competing terrorist groups, including ISIS-K, which the US considers a threat to our own national security as well. The Washington Post reported last week that the war is actually escalating in Afghanistan.

Many wonder how Blinken ever got the position of Biden’s Secretary of State.  As The Gateway Pundit  previously reported, it may be because his parents are tight with George Soros.  Or it could be because he was under Obama’s Secretary of State John Kerry.

Overall, Blinken is horrible for the country but perfect for Biden.
Since the Taliban took control, Afghan girls are facing restrictions on travel, work, and education, besides their deteriorating safety situation in the country.

This narrative is contradicted in other media:

https://www.wionews.com/south-asia/taliban-flouting-basic-human-rights-in-afghanistan-report-472652  Updated April 21, 2022

https://hotair.com/ed-morrissey/2022/04/28/blinken-afghan-women-are-benefiting-from-the-stability-and-peace-of-taliban-rule-n465513

 

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Categories
Biden Pandemic Economy Opinion Politics Reprints from others.

Manchin shoots down Biden’s new billionaire tax plan

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The Whole article can be found here.

Centrist Sen. Joe Manchin (D-W.Va.) on Tuesday shot down President Biden’s new plan to raise $360 billion in revenue by imposing a 20 percent minimum tax on billionaires, a proposal the president formally unveiled Monday in his budget request to Congress.

Manchin says he doesn’t support the president’s plan to tax the unrealized gains of billionaires, which would set a new precedent by taxing the value an asset accrues in theory before it is actually sold and converted into cash.

“You can’t tax something that’s not earned. Earned income is what we’re based on,” he told The Hill. “There’s other ways to do it. Everybody has to pay their fair share.”

“Everybody has to pay their fair share, that’s for sure. But unrealized gains is not the way to do it, as far as I’m concerned,” he added.

Manchin’s opposition means Biden’s proposal is likely dead only a day after the White House unveiled it. It could be significantly restructured to avoid taxing unrealized gains, which would pose the big challenge of trying to make up the lost revenues. Structuring a tax on unrealized capital gains is complicated because the value of assets can fluctuate.

 

 

 

 

 

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Categories
Opinion Politics Uncategorized

Let’s just send the weapons we had in Afghanistan to the Ukraine. Oh wait we can’t. The Taliban has them.

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If only we had removed all the weapons, aircraft, armour, etc. from Afghanistan, Ukraine would have a much better fighting chance. But Joe decided that the Taliban  was unbeatable, so he sounded the retreat. Let’s hope he doesn’t do the same in the Ukraine.

What say you?

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Any threat especially against law enforcement or politicians will get you banned.