THE CAPE CHARLES MIRROR APRIL 23, 2023
Op-Ed: On Biden’s Rigged ‘Green’ Game
This Op-Ed was written and submitted by Paul Plante.
By way of definition as it pertains to this thread on what I am calling Joe Biden's rigged "green" game, where "green" is the color of the taxpayer money Joe is blowing through with his INSANE GREEN DREAM which is a direct cause of global warming and climate change, if someone, Joe Biden in this case, rigs a game as Joe is clearly doing here with his determinations of no environmental impacts from anything he is doing or proposing, they dishonestly arrange it to get the result they want and/or to give someone an unfair advantage - in this case, that being those who are the recipients of the massive amount of "green" Joe Biden and his lackeys and lickspittles and toadies and sycophants like Peter Paul Montgomery Buttigieg, and Gina Raimondo, and Jennifer Granholm, and Lizzie Klein, an environmental lawyer and clean energy champion who was just appointed director of the Bureau of Ocean Energy Management by Joe, are handing out to buy love for Joe Biden and the generous Democrats, as well as to provide a source of graft (the acquisition of money, gain, or advantage by dishonest, unfair, or illegal means, especially through the abuse of one's position or influence in politics) which has been DEMOCRAT party policy since the 1800's in this country - raking graft.
Consider this language on that subject from the 1908 Democratic Party Platform on July 07, 1908, to wit:
We rejoice at the increasing signs of an awakening throughout the country.
The various investigations have traced graft and political corruption to the representatives of the predatory wealth, and laid bare the unscrupulous methods by which they have debauched elections and preyed upon a defenseless public through the subservient officials whom they have raised to place and power.
The conscience of the nation is now aroused to free the Government from the grip of those who have made it a business asset of the favor-seeking corporations.
end quotes
Here we are, one hundred fifteen (115) years later, and we still have various investigations into the Biden family tracing graft and political corruption to the representatives of the predatory wealth, and laying bare the unscrupulous methods by which they have debauched elections, specifically in 2020, how they continue to prey upon a defenseless public through the subservient officials, in this case Joe Biden and the members of his administration, whom they have raised to place and power.
Sadly, however, the conscience of the nation is NOT aroused to free the Government from the grip of those who have made it a business asset of the favor-seeking corporations who are the recipients of all this "green" Joe Biden and his crew are handing out, like it is candy.
Going back to the verb "rig," we use that to mean "to manipulate or control usually by deceptive or dishonest means" and "to fix in advance for a desired result," which in this case is Joe Biden's INSANE GREEN AGENDA which is going to turn us into a backwards third-world nation that is massively in debt and suffering from high inflation, as we clearly see in a Reuters article titled "U.S. government posts $378 billion deficit in March" on April 12, 2023, to wit:
(Reuters) - The U.S. government recorded a $378-billion budget deficit in March as outlays outpaced revenues, the Treasury Department said on Wednesday.
That compared to a budget deficit of $193 billion in the same month last year, according to the Treasury’s monthly budget statement.
The March deficit brought the year-to-date fiscal deficit to $1.1 trillion, up 65% from a year earlier.
end quotes
As Joe Biden pours money out the door for his INSANE GREEN DREAM like a modern-day MAD KING LUDWIG of Bavaria, it is our descendants who are getting the bill, and are getting royally screwed in the process, which takes us to a Reuters article titled "NY Fed report sees several more years of balance sheet contraction" by Michael S. Derby on April 11, 2023, as follows:
As part of the annual report for its System Open Market Account for 2022, the bank (the federal reserve) said that Fed holdings, which now stand at $8.7 trillion, will likely fall to around $6 trillion by the middle of 2025 before holding steady for around a year.
Holdings are then expected to grow to maintain balance with the growth of the economy and tick back up to $7.2 trillion by 2030.
end quotes
In other words, the federal reserve is monetizing the debt Joe Biden is incurring with his INSANE GREEN DREAM with its windmills and electric cars and solar farms by buying the debt Joe is issuing in the form of bonds, and we are paying the federal reserve interest on those bonds they hold, and to put that in its proper perspective, consider that as of March 2023 it costs we, the American people $384 billion to maintain the debt, which is to say, pay the interest due, which is 12% of the total federal spending.
And for what?
What exactly are we getting for our money?
And here we need to delve into some relevant American history that appears to be totally unknown today in this age of the INSANE GREEN DREAM of American dictator Joseph Robinette Biden, Junior, as follows:
The National Environmental Policy Act (NEPA) of 1969 was created to ensure federal agencies consider the environmental impacts of their actions and decisions.
Federal agencies are required to systematically assess the environmental impacts of their proposed actions and consider alternative ways of accomplishing their missions, which are less damaging to and protective of the environment.
Purpose
Sec. 2 [42 USC § 4321].
The purposes of this Act are: To declare a national policy which will encourage productive and enjoyable harmony between man and his environment; to promote efforts which will prevent or eliminate damage to the environment and biosphere and stimulate the health and welfare of man; to enrich the understanding of the ecological systems and natural resources important to the Nation; and to establish a Council on Environmental Quality.
TITLE I
CONGRESSIONAL DECLARATION OF NATIONAL ENVIRONMENTAL POLICY
Sec. 101 [42 USC § 4331].
(a) The Congress, recognizing the profound impact of man's activity on the interrelations of all components of the natural environment, particularly the profound influences of population growth, high-density urbanization, industrial expansion, resource exploitation, and new and expanding technological advances and recognizing further the critical importance of restoring and maintaining environmental quality to the overall welfare and development of man, declares that it is the continuing policy of the Federal Government, in cooperation with State and local governments, and other concerned public and private organizations, to use all practicable means and measures, including financial and technical assistance, in a manner calculated to foster and promote the general welfare, to create and maintain conditions under which man and nature can exist in productive harmony, and fulfill the social, economic, and other requirements of present and future generations of Americans.
end quotes
And here I am going to rest for a moment to rest for a moment to let that all sink in, because in this age of Joe Biden's INSANE GREEN DREAM, that has all gone right out the window as if it never was, so stay tuned!
http://www.capecharlesmirror.com/op-ed- ... e/#respond
ON JOE BIDEN'S RIGGED "GREEN" GAME
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR APRIL 23, 2023 AT 12:32 PM
Rob Stubbs says:
Thank you for saying this out loud.
I don’t always agree completely with the Mirror but I have to respect the attempts they make to be honest and bring to light subjects that most media try to protect.
This is a well written piece and thank you.
http://www.capecharlesmirror.com/op-ed- ... ent-793796
Rob Stubbs says:
Thank you for saying this out loud.
I don’t always agree completely with the Mirror but I have to respect the attempts they make to be honest and bring to light subjects that most media try to protect.
This is a well written piece and thank you.
http://www.capecharlesmirror.com/op-ed- ... ent-793796
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR APRIL 25, 2023 AT 10:43 AM
Paul R. Plante says:
To put things in their proper perspective here, and by the way, with respect to Joe Biden’s “CLIMATE CRISIS,” there was ice on my windshield this morning caused by Joe’s “GLOBAL WARMING” which is going to kill us all unless we bankrupt the nation paying for Joe’s massive “climate change” measures, let us go back to the Reuters article above titled “U.S. government posts $378 billion deficit in March” on April 12, 2023 and focus on this first sentence, to wit:
(Reuters) – The U.S. government recorded a $378-billion budget deficit in March as outlays outpaced revenues, the Treasury Department said on Wednesday.
end quotes
Outlays, of course, are the money the federal government is spending, which in turn takes us to this sentence, to wit:
The March deficit brought the year-to-date fiscal deficit to $1.1 trillion, up 65% from a year earlier.
end quotes
And from there, let’s drop back to October 21, 2022, and “Remarks by President Biden on Historic Deficit Reduction,” where we are treated to the following Orwellian “doublethink” (a process of indoctrination in which subjects are expected to simultaneously accept two conflicting beliefs as truth) from Joe, as follows:
THE PRESIDENT: Good morning.
I ran for President to rebuild the backbone of the middle class — this country — that’s the backbone — to build an economy from the bottom up and the middle out and for — make sure the economy was stronger than it was before the pandemic.
end quotes
Except it is not stronger and in fact is getting weaker, thanks to Joe and his BIDENFLATION, which is crushing not only those on the bottom, but those in the middle, as well, which takes us back for more Joe, as follows:
And the price of gas at the pump is coming down.
end quote
Actually, the price of gas up here where I am is going up, and was $4.20 per gallon for 89-octane just the other day, up from $4.10 a week before, but in Joe’s world, down is really up, which again takes us back to Joe, to wit:
And today, we have further proof that we’re rebuilding the economy in a responsible way.
Today, my administration announced that this year the deficit fell by $1.4 trillion — the largest one-year drop in American history — $1.4 trillion decline in the deficit.
Let me repeat that: the largest-ever decline in the federal deficit.
Let me be clear: This record deficit reduction includes the cost of my student loan plan and everything else we’re paying for.
The deficit is down $1.4 trillion this year, even after accounting for 30 years of debt relief paid in advance.
You know, this — this follows last year’s drop of $350 billion in the deficit.
end quotes
Which takes us right back to the Reuters article from April 12, 2023 where we are told the deficit actually went up to $1.1 trillion, up 65% from a year earlier.
Going back to Joe, we have as follows:
You know, we’re going from a historically strong economic recovery to a steady and stable growth while reducing the deficit, building an economy where everyone does well, where the poor have a ladder up, the middle class does well, and the wealthy do very well.
They’re not hurt by it.
And this is the economic vision I’ve had for America and the reason I ran — one of the reasons.
Republicans in Congress have a very different vision.
Now, listen to me closely: Congressional Republicans love to call Democrats “big spenders,” and they always claim to be for less federal spending.
But let’s look at the facts.
The federal deficit went up every single year in the Trump administration, every single year he was President.
They’re the facts.
And one big reason for that is Republicans voted for $2 trillion tax cut — a Trump tax cut — which overwhelmingly benefitted the wealthy and the biggest corporations.
And that racked up the deficit sig- — significantly.
On my watch, things have been different.
The deficit has come down both years that I’ve been in office.
And I just signed legislation that’s going to relu- — going to reduce it even more in the decades to come.
end quotes
Which takes us to a Reuters article titled “TREASURIES-1-month Treasury yields rise from Oct. lows as debt ceiling worries grow” by David Randall on April 24, 2023, where we have as follows with respect to Joe’s miracle economy:
U.S. tax collections are currently trending roughly 30% below last year’s level, raising the possibility that the United States will reach its borrowing limit as soon as the first half of June rather than later in the summer, according to Goldman Sachs Global Investment Research.
end quotes
Think about that, people, and then think about all the tax breaks Joe is handing out to big corporations in connection with his infrastructure plan, his CHIPS act and his inflation reduction act, which is causing inflation and ask yourself if there could be any connection between the two, and ask yourself this further question of what are we, the people getting out of any of this, besides royally screwed!
http://www.capecharlesmirror.com/op-ed- ... ent-794166
Paul R. Plante says:
To put things in their proper perspective here, and by the way, with respect to Joe Biden’s “CLIMATE CRISIS,” there was ice on my windshield this morning caused by Joe’s “GLOBAL WARMING” which is going to kill us all unless we bankrupt the nation paying for Joe’s massive “climate change” measures, let us go back to the Reuters article above titled “U.S. government posts $378 billion deficit in March” on April 12, 2023 and focus on this first sentence, to wit:
(Reuters) – The U.S. government recorded a $378-billion budget deficit in March as outlays outpaced revenues, the Treasury Department said on Wednesday.
end quotes
Outlays, of course, are the money the federal government is spending, which in turn takes us to this sentence, to wit:
The March deficit brought the year-to-date fiscal deficit to $1.1 trillion, up 65% from a year earlier.
end quotes
And from there, let’s drop back to October 21, 2022, and “Remarks by President Biden on Historic Deficit Reduction,” where we are treated to the following Orwellian “doublethink” (a process of indoctrination in which subjects are expected to simultaneously accept two conflicting beliefs as truth) from Joe, as follows:
THE PRESIDENT: Good morning.
I ran for President to rebuild the backbone of the middle class — this country — that’s the backbone — to build an economy from the bottom up and the middle out and for — make sure the economy was stronger than it was before the pandemic.
end quotes
Except it is not stronger and in fact is getting weaker, thanks to Joe and his BIDENFLATION, which is crushing not only those on the bottom, but those in the middle, as well, which takes us back for more Joe, as follows:
And the price of gas at the pump is coming down.
end quote
Actually, the price of gas up here where I am is going up, and was $4.20 per gallon for 89-octane just the other day, up from $4.10 a week before, but in Joe’s world, down is really up, which again takes us back to Joe, to wit:
And today, we have further proof that we’re rebuilding the economy in a responsible way.
Today, my administration announced that this year the deficit fell by $1.4 trillion — the largest one-year drop in American history — $1.4 trillion decline in the deficit.
Let me repeat that: the largest-ever decline in the federal deficit.
Let me be clear: This record deficit reduction includes the cost of my student loan plan and everything else we’re paying for.
The deficit is down $1.4 trillion this year, even after accounting for 30 years of debt relief paid in advance.
You know, this — this follows last year’s drop of $350 billion in the deficit.
end quotes
Which takes us right back to the Reuters article from April 12, 2023 where we are told the deficit actually went up to $1.1 trillion, up 65% from a year earlier.
Going back to Joe, we have as follows:
You know, we’re going from a historically strong economic recovery to a steady and stable growth while reducing the deficit, building an economy where everyone does well, where the poor have a ladder up, the middle class does well, and the wealthy do very well.
They’re not hurt by it.
And this is the economic vision I’ve had for America and the reason I ran — one of the reasons.
Republicans in Congress have a very different vision.
Now, listen to me closely: Congressional Republicans love to call Democrats “big spenders,” and they always claim to be for less federal spending.
But let’s look at the facts.
The federal deficit went up every single year in the Trump administration, every single year he was President.
They’re the facts.
And one big reason for that is Republicans voted for $2 trillion tax cut — a Trump tax cut — which overwhelmingly benefitted the wealthy and the biggest corporations.
And that racked up the deficit sig- — significantly.
On my watch, things have been different.
The deficit has come down both years that I’ve been in office.
And I just signed legislation that’s going to relu- — going to reduce it even more in the decades to come.
end quotes
Which takes us to a Reuters article titled “TREASURIES-1-month Treasury yields rise from Oct. lows as debt ceiling worries grow” by David Randall on April 24, 2023, where we have as follows with respect to Joe’s miracle economy:
U.S. tax collections are currently trending roughly 30% below last year’s level, raising the possibility that the United States will reach its borrowing limit as soon as the first half of June rather than later in the summer, according to Goldman Sachs Global Investment Research.
end quotes
Think about that, people, and then think about all the tax breaks Joe is handing out to big corporations in connection with his infrastructure plan, his CHIPS act and his inflation reduction act, which is causing inflation and ask yourself if there could be any connection between the two, and ask yourself this further question of what are we, the people getting out of any of this, besides royally screwed!
http://www.capecharlesmirror.com/op-ed- ... ent-794166
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR APRIL 26, 2023 AT 9:07 PM
Paul R. Plante says:
By way of review, if we go back to the original post and the CONGRESSIONAL DECLARATION OF NATIONAL ENVIRONMENTAL POLICY in 1960, Sec. 101 [42 USC § 4331], we have in relevant part as follows, to wit:
(a) The Congress, recognizing the profound impact of man’s activity on the interrelations of all components of the natural environment, particularly the profound influences of population growth, high-density urbanization, industrial expansion, resource exploitation, and new and expanding technological advances and recognizing further the critical importance of restoring and maintaining environmental quality to the overall welfare and development of man, declares that it is the continuing policy of the Federal Government, in cooperation with State and local governments, and other concerned public and private organizations, to use all practicable means and measures, including financial and technical assistance, in a manner calculated to foster and promote the general welfare, to create and maintain conditions under which man and nature can exist in productive harmony, and fulfill the social, economic, and other requirements of present and future generations of Americans.
end quotes
Parsing through there, we find these particular words directly related to all of Joe Biden’s massive spending programs, which he maintains will have no impacts on the “human environment,” defined in 40 CFR § 1508.1(m) as “comprehensively the natural and physical environment and the relationship of present and future generations of Americans with that environment,” to wit: “the profound impact of man’s activity on the interrelations of all components of the natural environment, particularly the profound influences of industrial expansion.”
The profound influences of industrial expansion relates directly to all of Joe’s programs to include his $1.85 Trillion Build Back Better Act, which is paid for by borrowed money we and future generations of Americans are on the hook for, his $280 billion CHIPS act, which is again paid for by borrowed money we are on the hook for, and his so-called Inflation Reduction Act, which raises inflation, which the Wall Street Journal estimates will cost $1.2 Trillion.
And that takes us back to NEPA where the Congress declared that it is the continuing policy of the Federal Government to use all practicable means and measures in a manner calculated to foster and promote the general welfare, to create and maintain conditions under which man and nature can exist in productive harmony, and fulfill the social, economic, and other requirements of present and future generations of Americans.
That, people, is what went out the window and down the toilet as a result of Joe Biden unilaterally and dictatorially declaring that all of this massive spending will be good for the American people, and America, which is not at all true, as we have been discussing above, where according to a Reuters article titled “TREASURIES-1-month Treasury yields rise from Oct. lows as debt ceiling worries grow” by David Randall on April 24, 2023, U.S. tax collections are currently trending roughly 30% below last year’s level, raising the possibility that the United States will reach its borrowing limit as soon as the first half of June rather than later in the summer, according to Goldman Sachs Global Investment Research.
And why, pray tell would that be, and how could it be, the answer to which question is quite simple – it is because of the MASSIVE TAX BREAKS Joe Biden is providing BIG BUSINESS through these acts, which shifts the burden to those of us in the lower economic classes in America, not to mention through the inflation caused by Joe’s massive BORROW AND SPEND, and make no mistake whatsoever – INFLATION IS A TAX THAT IS PAID FOR BY WE, THE AMERICAN PEOPLE, including the so-called “middle class,” which takes us to a Reuters article titled “US consumer confidence hits nine-month low; housing market bottoming out” by Lucia Mutikani on April 25, 2023, where we have as follows, to wit:
WASHINGTON (Reuters) – U.S. consumer confidence dropped to a nine-month low in April as worries about the future mounted, further heightening the risk that the economy could fall into recession this year.
The drop reflected a deterioration in expectations for consumers under 55 years and households earning $50,000 and over annually, suggesting a broadening in concerns about the economy beyond low income households.
The share of those planning to buy household appliances over the next six months dropped to 41%, the smallest since September 2011, from 44.8 in March.
The proportion planning to buy motor vehicles was the smallest in nine months.
The share of those planning to go on vacation was the smallest since last June.
Fewer consumers intended to purchase a home.
end quotes
Then google “causes of GREAT DEPRESSION” and look for the obvious comparisons, and believe me, having studied the subject at length, they are there.
As the cost of goods goes up, and the cost of credit likewise goes up, demand goes down, which is not a hard equation to grasp, although it is far beyond the ken of Joe Biden, “TOODLES” Yellen and all of Joe’s “economic” advisors, who all thought inflation was transitory.
And Joe just announced yesterday that he wants four more years to finish the job he has done on us since he came into office.
If you are as insane as Joe, and want to see our economy totally destroyed, and it may already be too late to stop that train wreck, give Joe your vote, because he is your man to do just that!
Talk about disgusting, this takes the cake!
http://www.capecharlesmirror.com/op-ed- ... ent-794586
Paul R. Plante says:
By way of review, if we go back to the original post and the CONGRESSIONAL DECLARATION OF NATIONAL ENVIRONMENTAL POLICY in 1960, Sec. 101 [42 USC § 4331], we have in relevant part as follows, to wit:
(a) The Congress, recognizing the profound impact of man’s activity on the interrelations of all components of the natural environment, particularly the profound influences of population growth, high-density urbanization, industrial expansion, resource exploitation, and new and expanding technological advances and recognizing further the critical importance of restoring and maintaining environmental quality to the overall welfare and development of man, declares that it is the continuing policy of the Federal Government, in cooperation with State and local governments, and other concerned public and private organizations, to use all practicable means and measures, including financial and technical assistance, in a manner calculated to foster and promote the general welfare, to create and maintain conditions under which man and nature can exist in productive harmony, and fulfill the social, economic, and other requirements of present and future generations of Americans.
end quotes
Parsing through there, we find these particular words directly related to all of Joe Biden’s massive spending programs, which he maintains will have no impacts on the “human environment,” defined in 40 CFR § 1508.1(m) as “comprehensively the natural and physical environment and the relationship of present and future generations of Americans with that environment,” to wit: “the profound impact of man’s activity on the interrelations of all components of the natural environment, particularly the profound influences of industrial expansion.”
The profound influences of industrial expansion relates directly to all of Joe’s programs to include his $1.85 Trillion Build Back Better Act, which is paid for by borrowed money we and future generations of Americans are on the hook for, his $280 billion CHIPS act, which is again paid for by borrowed money we are on the hook for, and his so-called Inflation Reduction Act, which raises inflation, which the Wall Street Journal estimates will cost $1.2 Trillion.
And that takes us back to NEPA where the Congress declared that it is the continuing policy of the Federal Government to use all practicable means and measures in a manner calculated to foster and promote the general welfare, to create and maintain conditions under which man and nature can exist in productive harmony, and fulfill the social, economic, and other requirements of present and future generations of Americans.
That, people, is what went out the window and down the toilet as a result of Joe Biden unilaterally and dictatorially declaring that all of this massive spending will be good for the American people, and America, which is not at all true, as we have been discussing above, where according to a Reuters article titled “TREASURIES-1-month Treasury yields rise from Oct. lows as debt ceiling worries grow” by David Randall on April 24, 2023, U.S. tax collections are currently trending roughly 30% below last year’s level, raising the possibility that the United States will reach its borrowing limit as soon as the first half of June rather than later in the summer, according to Goldman Sachs Global Investment Research.
And why, pray tell would that be, and how could it be, the answer to which question is quite simple – it is because of the MASSIVE TAX BREAKS Joe Biden is providing BIG BUSINESS through these acts, which shifts the burden to those of us in the lower economic classes in America, not to mention through the inflation caused by Joe’s massive BORROW AND SPEND, and make no mistake whatsoever – INFLATION IS A TAX THAT IS PAID FOR BY WE, THE AMERICAN PEOPLE, including the so-called “middle class,” which takes us to a Reuters article titled “US consumer confidence hits nine-month low; housing market bottoming out” by Lucia Mutikani on April 25, 2023, where we have as follows, to wit:
WASHINGTON (Reuters) – U.S. consumer confidence dropped to a nine-month low in April as worries about the future mounted, further heightening the risk that the economy could fall into recession this year.
The drop reflected a deterioration in expectations for consumers under 55 years and households earning $50,000 and over annually, suggesting a broadening in concerns about the economy beyond low income households.
The share of those planning to buy household appliances over the next six months dropped to 41%, the smallest since September 2011, from 44.8 in March.
The proportion planning to buy motor vehicles was the smallest in nine months.
The share of those planning to go on vacation was the smallest since last June.
Fewer consumers intended to purchase a home.
end quotes
Then google “causes of GREAT DEPRESSION” and look for the obvious comparisons, and believe me, having studied the subject at length, they are there.
As the cost of goods goes up, and the cost of credit likewise goes up, demand goes down, which is not a hard equation to grasp, although it is far beyond the ken of Joe Biden, “TOODLES” Yellen and all of Joe’s “economic” advisors, who all thought inflation was transitory.
And Joe just announced yesterday that he wants four more years to finish the job he has done on us since he came into office.
If you are as insane as Joe, and want to see our economy totally destroyed, and it may already be too late to stop that train wreck, give Joe your vote, because he is your man to do just that!
Talk about disgusting, this takes the cake!
http://www.capecharlesmirror.com/op-ed- ... ent-794586
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR APRIL 27, 2023 AT 8:32 PM
Paul R. Plante says:
And staying for the moment with the empty words of NEPA above here, empty because they are totally disregarded by Joe Biden, his administration and the Congress itself, which body today is responsible for Joe’s MASSIVE BORROW HUGE AND SPEND LAVISHLY ON CORPORATE WELFARE programs, as to what has gone out the window and down the toilet to our detriment as taxpayers and citizens of this nation who have been completely stripped of the protection of law thanks to Congress and Joe Biden, what we see first is that while a past Congress in a different century and millennium declared that it to be the continuing policy of the Federal Government to use all practicable means and measures in a manner calculated to foster and promote the general welfare, what is being promoted today is the welfare of giant corporations and America’s richest citizens, not to mention the welfare of politicians like Nancy Pelosi and members of the extended Biden family, and for an example, let us go to a Reuters article titled “Bosch buys US semiconductor foundry to expand EV chip output” by Joseph White and Stephen Nellis on April 26, 2023, where we have as follows with regard to CORPORATE WELFARE by this Congress and the Biden administration, to wit:
DETROIT, April 26 (Reuters) – Germany’s Bosch Group has agreed to buy key assets of California chip manufacturer TSI Semiconductors and invest $1.5 billion to expand U.S. production of silicon carbide chips for electric vehicles.
The investment “will be heavily dependent on federal funding opportunities” through the CHIPS act as well as state subsidies, Bosch said in a statement.
end quotes
For the record, according to figures supplied by Bosch, in 2022, the company generated sales of 88.4 billion euros which equals out to $97,412,380,000.00 US dollars, so it is obscene that we, the struggling American people should have to subsidize them, but you know what – Joe Biden and this Congress do not give a damn whether we are struggling or not, and that is just the way it is, which takes us back to this from NEPA, which also went out the window and down the toilet, to wit:
Congress declares it to be the continuing policy of the Federal Government to use all practicable means and measures to fulfill the economic requirements of present and future generations of Americans.
end quotes
As we see from Joe Biden’s massive corporate welfare programs, it is now the policy of the Federal Government to use all practicable means and measures to fulfill the economic requirements of global corporations like Bosch and Taiwan Semiconductor Manufacturing Company Limited, and if we, the American people are beggared and bankrupted in the process to support them with corporate welfare, so be it, it is what we deserve for being American citizens, at least as far as Joe Biden and the Congress are concerned.
As to inflation and the massive and ever-growing budget deficits we are saddled with today thanks to Joe Biden and Congress, in “Democracy in Deficit: The Political Legacy of Lord Keynes” by James M. Buchanan and Richard E. Wagner written in 1998, the authors state as follows, and consider that we are now 25 years further into the future since then, to wit:
A regime of permanent budget deficits, inflation, and an increasing public-sector share of national income — these seem to us to be the consequences of the application of Keynesian precepts in American democracy.
Increasingly, these consequences are coming to be recognized as signals of disease rather than of the robust health that Keynesianism seemed to offer.
The juxtaposition of Keynesian policy prescriptions and political democracy creates an unstable mixture.
The economic order seems to become more, rather than less, fragile — coming to resemble a house of cards.
end quotes
Disease and a house of cards, indeed, people, and we are the ones who will pay that price, and soon, big time which takes us to Chapter 5 of that work, again written in 1998, wherein was forecast the future we are now in, because like it or not, chickens ALWAYS come home to roost, to wit:
Assessing the Damages – Inflation, Budget Deficits, and Capital Investment
We do not need to become full-blown Hegelians to entertain the general notion of zeitgeist, a “spirit of the times.”
Such a spirit seems at work in the 1960s and 1970s, and is evidenced by what appears as a generalized erosion in public and private manners, increasingly liberalized attitudes toward sexual activities, a declining vitality of the Puritan work ethic, deterioration in product quality, explosion of the welfare rolls, widespread corruption in both the private and the governmental sector, and, finally, observed increases in the alienation of voters from the political process.
end quotes
Does that strike a chord with anyone out there listening in on this conversation?
It certainly does with me, anyway.
And here once again, I will pause to let you all come to your own conclusions before resuming with inflation as a tax and causes of the last GREAT DEPRESSION which Congress and Joe Biden and the idiotic federal reserve, which knows nothing and learns nothing, being nothing more than a political tool and lackey, are creating all over again with the federal reserve monetizing all the debt Joe Biden and Congress have already created, with a raise in the debt ceiling now looming large on the horizon!
http://www.capecharlesmirror.com/op-ed- ... ent-794911
Paul R. Plante says:
And staying for the moment with the empty words of NEPA above here, empty because they are totally disregarded by Joe Biden, his administration and the Congress itself, which body today is responsible for Joe’s MASSIVE BORROW HUGE AND SPEND LAVISHLY ON CORPORATE WELFARE programs, as to what has gone out the window and down the toilet to our detriment as taxpayers and citizens of this nation who have been completely stripped of the protection of law thanks to Congress and Joe Biden, what we see first is that while a past Congress in a different century and millennium declared that it to be the continuing policy of the Federal Government to use all practicable means and measures in a manner calculated to foster and promote the general welfare, what is being promoted today is the welfare of giant corporations and America’s richest citizens, not to mention the welfare of politicians like Nancy Pelosi and members of the extended Biden family, and for an example, let us go to a Reuters article titled “Bosch buys US semiconductor foundry to expand EV chip output” by Joseph White and Stephen Nellis on April 26, 2023, where we have as follows with regard to CORPORATE WELFARE by this Congress and the Biden administration, to wit:
DETROIT, April 26 (Reuters) – Germany’s Bosch Group has agreed to buy key assets of California chip manufacturer TSI Semiconductors and invest $1.5 billion to expand U.S. production of silicon carbide chips for electric vehicles.
The investment “will be heavily dependent on federal funding opportunities” through the CHIPS act as well as state subsidies, Bosch said in a statement.
end quotes
For the record, according to figures supplied by Bosch, in 2022, the company generated sales of 88.4 billion euros which equals out to $97,412,380,000.00 US dollars, so it is obscene that we, the struggling American people should have to subsidize them, but you know what – Joe Biden and this Congress do not give a damn whether we are struggling or not, and that is just the way it is, which takes us back to this from NEPA, which also went out the window and down the toilet, to wit:
Congress declares it to be the continuing policy of the Federal Government to use all practicable means and measures to fulfill the economic requirements of present and future generations of Americans.
end quotes
As we see from Joe Biden’s massive corporate welfare programs, it is now the policy of the Federal Government to use all practicable means and measures to fulfill the economic requirements of global corporations like Bosch and Taiwan Semiconductor Manufacturing Company Limited, and if we, the American people are beggared and bankrupted in the process to support them with corporate welfare, so be it, it is what we deserve for being American citizens, at least as far as Joe Biden and the Congress are concerned.
As to inflation and the massive and ever-growing budget deficits we are saddled with today thanks to Joe Biden and Congress, in “Democracy in Deficit: The Political Legacy of Lord Keynes” by James M. Buchanan and Richard E. Wagner written in 1998, the authors state as follows, and consider that we are now 25 years further into the future since then, to wit:
A regime of permanent budget deficits, inflation, and an increasing public-sector share of national income — these seem to us to be the consequences of the application of Keynesian precepts in American democracy.
Increasingly, these consequences are coming to be recognized as signals of disease rather than of the robust health that Keynesianism seemed to offer.
The juxtaposition of Keynesian policy prescriptions and political democracy creates an unstable mixture.
The economic order seems to become more, rather than less, fragile — coming to resemble a house of cards.
end quotes
Disease and a house of cards, indeed, people, and we are the ones who will pay that price, and soon, big time which takes us to Chapter 5 of that work, again written in 1998, wherein was forecast the future we are now in, because like it or not, chickens ALWAYS come home to roost, to wit:
Assessing the Damages – Inflation, Budget Deficits, and Capital Investment
We do not need to become full-blown Hegelians to entertain the general notion of zeitgeist, a “spirit of the times.”
Such a spirit seems at work in the 1960s and 1970s, and is evidenced by what appears as a generalized erosion in public and private manners, increasingly liberalized attitudes toward sexual activities, a declining vitality of the Puritan work ethic, deterioration in product quality, explosion of the welfare rolls, widespread corruption in both the private and the governmental sector, and, finally, observed increases in the alienation of voters from the political process.
end quotes
Does that strike a chord with anyone out there listening in on this conversation?
It certainly does with me, anyway.
And here once again, I will pause to let you all come to your own conclusions before resuming with inflation as a tax and causes of the last GREAT DEPRESSION which Congress and Joe Biden and the idiotic federal reserve, which knows nothing and learns nothing, being nothing more than a political tool and lackey, are creating all over again with the federal reserve monetizing all the debt Joe Biden and Congress have already created, with a raise in the debt ceiling now looming large on the horizon!
http://www.capecharlesmirror.com/op-ed- ... ent-794911
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR MAY 5, 2023 AT 9:59 AM
Paul R. Plante says:
By way of review, 25 years ago now, in “Democracy in Deficit: The Political Legacy of Lord Keynes” by James M. Buchanan and Richard E. Wagner written in 1998, the authors stated as follows, as to what they saw coming in their future, which happens to be where we are right now as I write these words, to wit:
A regime of permanent budget deficits, inflation, and an increasing public-sector share of national income — these seem to us to be the consequences of the application of Keynesian precepts in American democracy.
Increasingly, these consequences are coming to be recognized as signals of disease rather than of the robust health that Keynesianism seemed to offer.
The juxtaposition of Keynesian policy prescriptions and political democracy creates an unstable mixture.
The economic order seems to become more, rather than less, fragile — coming to resemble a house of cards.
end quotes
Those words, prophetic as they were, were written in 1998.
Now, fast forward to today, and this Reuters article titled “Pressure grows for regulatory intervention as US bank rout deepens” on May 4, 2023, to see that the HOUSE OF CARDS ECONOMIC ORDER that has been constructed by Joe Biden, Janet “TOODLES” Yellen, the federal government including the House and Senate, and the federal reserve since then as the sole support for Joe Biden’s RIGGED GREEN GAME seems to be trembling in the wind like Aspen leaves in a scenario reminiscent of 1929, to wit:
WASHINGTON, May 4 (Reuters) – Pressure is growing on U.S. regulators to take more steps to shore up the country’s banking sector as a renewed rout in regional lenders’ shares forced PacWest Bancorp to explore options to bolster its balance sheet.
Wall Street executives and bank analysts called for regulators to quickly provide more protection for bank deposits and consider other backstops, arguing only an intervention could stop the crisis — which saw several regional lenders’ shares plunge more than 10% on Thursday — from spiraling.
It was unclear, however, if the authorities would immediately step in.
“Investors are clearly continuing to focus on remaining players that are deemed the weakest,” wrote UBS banking analyst Erika Najarian on Thursday.
“To stop the cascade before the market literally drives more bank failures, we wonder if it’s time for the Treasury and the Fed to step up and potentially create some sort of backstop,” wrote Najarian.
Shares of Los Angeles-based PacWest slumped more than 40% in Thursday afternoon trading — a record low — after the lender confirmed a Reuters report that it was exploring strategic options, including a potential sale or capital raising.
Western Alliance’s shares pared losses after plummeting by nearly 60% on a Financial Times report, which it categorically denied, that the lender was exploring strategic options.
Major U.S. banks also lost ground on Thursday, with the S&P 500 Banks index falling nearly 3%.
Activist investor Nelson Peltz told the Financial Times that deposit insurance should be extended, echoing billionaire investor Bill Ackman who on Wednesday tweeted that regulators’ failure to expand the insurance regime “hammered more nails in the coffin.”
Peter Orszag, CEO of financial advisory at Lazard Ltd, on Wednesday called on officials to at least signal their intention to guarantee uninsured deposits for a six-month period.
Some regulatory experts, including former FDIC chair Jelena McWilliams, warned that increasing deposit insurance could encourage risk-taking, while others noted regulators have fewer tools to support banks following the 2008 financial crisis.
The U.S. Treasury Department on Thursday said it was continuing to “closely monitor” market developments, but “the banking system has substantial liquidity and deposit flows are stable.”
The Federal Deposit Insurance Corp. (FDIC) did not respond to a request for comment.
CONTAGION
The latest crisis began in March when runs on Silicon Valley Bank (SVB) and Signature Bank led to their abrupt closures, leading depositors to move their cash to bigger banks.
To stem the contagion, regulators took emergency steps to reimburse all customers at the two banks, while the Fed offered lenders additional liquidity.
The markets appeared to calm late last month.
But over the weekend, California-based First Republic became the third bank to fail.
Regulators hoped its sale to JPMorgan would draw a line under the crisis, but the deal revived investor fears.
On Monday, the FDIC floated possible reforms, including potentially raising the current insurance cap of $250,000 per-person per-bank, but such a permanent change would require congressional approval.
“Congress does not appear ready to exercise this option at this juncture.”
“So if a change to FDIC coverage limits is not happening, then the risk is that we may be stuck with a structural headwind,” said Carl Riccadonna, chief economist at BNP Paribas.
Major banks and private equity firms have balked at offering lenders capital infusions without a government backstop because of concerns about booking losses.
Raymond James analyst Ed Mills said regulators may also consider other options, including sending a signal that bank equity holders may be protected, or additional Fed funding, but added they were unlikely to move “unless things significantly deteriorate.”
http://www.capecharlesmirror.com/op-ed- ... ent-797107
Paul R. Plante says:
By way of review, 25 years ago now, in “Democracy in Deficit: The Political Legacy of Lord Keynes” by James M. Buchanan and Richard E. Wagner written in 1998, the authors stated as follows, as to what they saw coming in their future, which happens to be where we are right now as I write these words, to wit:
A regime of permanent budget deficits, inflation, and an increasing public-sector share of national income — these seem to us to be the consequences of the application of Keynesian precepts in American democracy.
Increasingly, these consequences are coming to be recognized as signals of disease rather than of the robust health that Keynesianism seemed to offer.
The juxtaposition of Keynesian policy prescriptions and political democracy creates an unstable mixture.
The economic order seems to become more, rather than less, fragile — coming to resemble a house of cards.
end quotes
Those words, prophetic as they were, were written in 1998.
Now, fast forward to today, and this Reuters article titled “Pressure grows for regulatory intervention as US bank rout deepens” on May 4, 2023, to see that the HOUSE OF CARDS ECONOMIC ORDER that has been constructed by Joe Biden, Janet “TOODLES” Yellen, the federal government including the House and Senate, and the federal reserve since then as the sole support for Joe Biden’s RIGGED GREEN GAME seems to be trembling in the wind like Aspen leaves in a scenario reminiscent of 1929, to wit:
WASHINGTON, May 4 (Reuters) – Pressure is growing on U.S. regulators to take more steps to shore up the country’s banking sector as a renewed rout in regional lenders’ shares forced PacWest Bancorp to explore options to bolster its balance sheet.
Wall Street executives and bank analysts called for regulators to quickly provide more protection for bank deposits and consider other backstops, arguing only an intervention could stop the crisis — which saw several regional lenders’ shares plunge more than 10% on Thursday — from spiraling.
It was unclear, however, if the authorities would immediately step in.
“Investors are clearly continuing to focus on remaining players that are deemed the weakest,” wrote UBS banking analyst Erika Najarian on Thursday.
“To stop the cascade before the market literally drives more bank failures, we wonder if it’s time for the Treasury and the Fed to step up and potentially create some sort of backstop,” wrote Najarian.
Shares of Los Angeles-based PacWest slumped more than 40% in Thursday afternoon trading — a record low — after the lender confirmed a Reuters report that it was exploring strategic options, including a potential sale or capital raising.
Western Alliance’s shares pared losses after plummeting by nearly 60% on a Financial Times report, which it categorically denied, that the lender was exploring strategic options.
Major U.S. banks also lost ground on Thursday, with the S&P 500 Banks index falling nearly 3%.
Activist investor Nelson Peltz told the Financial Times that deposit insurance should be extended, echoing billionaire investor Bill Ackman who on Wednesday tweeted that regulators’ failure to expand the insurance regime “hammered more nails in the coffin.”
Peter Orszag, CEO of financial advisory at Lazard Ltd, on Wednesday called on officials to at least signal their intention to guarantee uninsured deposits for a six-month period.
Some regulatory experts, including former FDIC chair Jelena McWilliams, warned that increasing deposit insurance could encourage risk-taking, while others noted regulators have fewer tools to support banks following the 2008 financial crisis.
The U.S. Treasury Department on Thursday said it was continuing to “closely monitor” market developments, but “the banking system has substantial liquidity and deposit flows are stable.”
The Federal Deposit Insurance Corp. (FDIC) did not respond to a request for comment.
CONTAGION
The latest crisis began in March when runs on Silicon Valley Bank (SVB) and Signature Bank led to their abrupt closures, leading depositors to move their cash to bigger banks.
To stem the contagion, regulators took emergency steps to reimburse all customers at the two banks, while the Fed offered lenders additional liquidity.
The markets appeared to calm late last month.
But over the weekend, California-based First Republic became the third bank to fail.
Regulators hoped its sale to JPMorgan would draw a line under the crisis, but the deal revived investor fears.
On Monday, the FDIC floated possible reforms, including potentially raising the current insurance cap of $250,000 per-person per-bank, but such a permanent change would require congressional approval.
“Congress does not appear ready to exercise this option at this juncture.”
“So if a change to FDIC coverage limits is not happening, then the risk is that we may be stuck with a structural headwind,” said Carl Riccadonna, chief economist at BNP Paribas.
Major banks and private equity firms have balked at offering lenders capital infusions without a government backstop because of concerns about booking losses.
Raymond James analyst Ed Mills said regulators may also consider other options, including sending a signal that bank equity holders may be protected, or additional Fed funding, but added they were unlikely to move “unless things significantly deteriorate.”
http://www.capecharlesmirror.com/op-ed- ... ent-797107
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR MAY 8, 2023 AT 10:42 PM
Paul R. Plante says:
Above here, I took a pause before resuming with inflation as a tax and causes of the last GREAT DEPRESSION, a subject that used to be taught in high school, so let’s go back to “Democracy in Deficit: The Political Legacy of Lord Keynes” by James M. Buchanan and Richard E. Wagner, written in 1998, where we have as follows on inflation as a tax on us, the citizens of this country, as the federal reserve effectively acts like a “tax farmer” for Janet “TOODLES” Yellen’s treasury department, to wit:
We do not, of course, attribute all or even the major share of these to the Keynesian conversion of the public and the politicians.
But who can deny that inflation, itself one consequence of that conversion, plays some role in reinforcing several of the observed behavior patterns.
Inflation destroys expectations and creates uncertainty; it increases the sense of felt injustice and causes alienation.
end quotes
Is there anyone out there besides Joe Biden, who in addition to being a CLIMATE DENIER is also an INFLATION DENIER, denying that his policies are a cause of inflation, who can argue against that last statement above here?
Going back to “Democracy in Deficit,” we have more on the subject of inflation as a tax, to wit:
It prompts behavioral responses that reflect a generalized shortening of time horizons.
“Enjoy, enjoy” — the imperative of our time — becomes a rational response in a setting where tomorrow remains insecure and where the plans made yesterday seem to have been made in folly.
As we have noted, inflation in itself introduces and/or reinforces an antibusiness or anticapitalist bias in public attitudes, a bias stemming from the misplaced blame for the observed erosion in the purchasing power of money and the accompanying fall in the value of accumulated monetary claims.
This bias may, in its turn, be influential in providing support to political attempts at imposing direct controls, with all the costs that these embody, both in terms of measured economic efficiency and in terms of restrictions on personal liberty.
Even if direct controls are not imposed, however, inflation may lend support for less direct measures that discriminate against the business sector, and notably against private investment.
Central governments possess an alternative to debt as a means of financing budget deficits.
They can create money which may be used directly to cover revenue shortfalls.
In fact, much of what is ordinarily referred to as “public debt” really represents disguised monetary issue by central banks.
How does this institution affect our analysis of budget imbalance?
In the non-Keynesian world, the inflation generated directly by the money created to finance a budget deficit is analytically equivalent to a tax, and many economists have examined it in these terms.
In terms of the fiscal perceptions of citizens, however, inflation does not seem at all equivalent to a tax.
No explicit political discussion and decision takes place on either the source or the rate of tax to be imposed.
Individual citizens are likely to be less informed about the probable costs of an “inflation tax” than they are about even the most indirect and complex explicit levy.
The tax signal under inflation is overwhelmed by the accompanying noise which takes the form of rising prices, at least under prevailing institutional arrangements.
Psychologically, individuals do not sense inflation to be a tax on their money balances; they do not attribute the diminution of their real wealth to the legalized “counterfeiting” activities of government.
Rather, the sense data take the form of rising prices for goods and services purchased in the private sector.
The decline in real wealth is attributed to failings in the market economy, not to governmental money creation.
It is a rare individual (not one in a million, according to Keynes) who is able to cut through the inflation veil and to attribute the price increases to government-induced inflation produced by the monetary financing of budget deficits.
Inflationary finance, then, will generally produce an underestimation of the opportunity cost of public services, in addition to promoting a false attribution in the minds of citizens as to the reason for the decline in their real wealth, a false attribution that nonetheless influences the specific character of public policies.
http://www.capecharlesmirror.com/op-ed- ... ent-798007
Paul R. Plante says:
Above here, I took a pause before resuming with inflation as a tax and causes of the last GREAT DEPRESSION, a subject that used to be taught in high school, so let’s go back to “Democracy in Deficit: The Political Legacy of Lord Keynes” by James M. Buchanan and Richard E. Wagner, written in 1998, where we have as follows on inflation as a tax on us, the citizens of this country, as the federal reserve effectively acts like a “tax farmer” for Janet “TOODLES” Yellen’s treasury department, to wit:
We do not, of course, attribute all or even the major share of these to the Keynesian conversion of the public and the politicians.
But who can deny that inflation, itself one consequence of that conversion, plays some role in reinforcing several of the observed behavior patterns.
Inflation destroys expectations and creates uncertainty; it increases the sense of felt injustice and causes alienation.
end quotes
Is there anyone out there besides Joe Biden, who in addition to being a CLIMATE DENIER is also an INFLATION DENIER, denying that his policies are a cause of inflation, who can argue against that last statement above here?
Going back to “Democracy in Deficit,” we have more on the subject of inflation as a tax, to wit:
It prompts behavioral responses that reflect a generalized shortening of time horizons.
“Enjoy, enjoy” — the imperative of our time — becomes a rational response in a setting where tomorrow remains insecure and where the plans made yesterday seem to have been made in folly.
As we have noted, inflation in itself introduces and/or reinforces an antibusiness or anticapitalist bias in public attitudes, a bias stemming from the misplaced blame for the observed erosion in the purchasing power of money and the accompanying fall in the value of accumulated monetary claims.
This bias may, in its turn, be influential in providing support to political attempts at imposing direct controls, with all the costs that these embody, both in terms of measured economic efficiency and in terms of restrictions on personal liberty.
Even if direct controls are not imposed, however, inflation may lend support for less direct measures that discriminate against the business sector, and notably against private investment.
Central governments possess an alternative to debt as a means of financing budget deficits.
They can create money which may be used directly to cover revenue shortfalls.
In fact, much of what is ordinarily referred to as “public debt” really represents disguised monetary issue by central banks.
How does this institution affect our analysis of budget imbalance?
In the non-Keynesian world, the inflation generated directly by the money created to finance a budget deficit is analytically equivalent to a tax, and many economists have examined it in these terms.
In terms of the fiscal perceptions of citizens, however, inflation does not seem at all equivalent to a tax.
No explicit political discussion and decision takes place on either the source or the rate of tax to be imposed.
Individual citizens are likely to be less informed about the probable costs of an “inflation tax” than they are about even the most indirect and complex explicit levy.
The tax signal under inflation is overwhelmed by the accompanying noise which takes the form of rising prices, at least under prevailing institutional arrangements.
Psychologically, individuals do not sense inflation to be a tax on their money balances; they do not attribute the diminution of their real wealth to the legalized “counterfeiting” activities of government.
Rather, the sense data take the form of rising prices for goods and services purchased in the private sector.
The decline in real wealth is attributed to failings in the market economy, not to governmental money creation.
It is a rare individual (not one in a million, according to Keynes) who is able to cut through the inflation veil and to attribute the price increases to government-induced inflation produced by the monetary financing of budget deficits.
Inflationary finance, then, will generally produce an underestimation of the opportunity cost of public services, in addition to promoting a false attribution in the minds of citizens as to the reason for the decline in their real wealth, a false attribution that nonetheless influences the specific character of public policies.
http://www.capecharlesmirror.com/op-ed- ... ent-798007
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR MAY 10, 2023 AT 6:25 PM
Paul R. Plante says:
And yes, people, causes of the GREAT DEPRESSION, which takes us back, for a moment, to July 19, 2021 and “Remarks by President Biden on the Economy,” where we have Joe spewing forth about how utterly great he is, and how he is the best president we have ever had, and we ought to be very thankful we have Joe in there fighting for us, 24/7/365 to create for us a MIRACLE ECONOMY based on BIDEN-O-NOMICS, which is really Marxist economics by a different name, that is from the bottom up and the middle out, where the rich do quite well by feeding off those in the middle class as well as those at the bottom who are getting crushed by Joe Biden’s INFLATION TAX, as follows:
THE PRESIDENT: Well, good morning.
Tomorrow marks exactly six months since my administration began.
I think it’s a fitting moment to take a look at our economy — where we were six months ago, what we’ve achieved since then, and what I believe we’ve — I believe where we’re headed.
Before I took office, there was a lot of folks out there — a lot of folks out there making some pretty bold predictions about how things would turn out.
You might remember some of the predictions.
That if I became President, we’d, quote, “see a depression the likes of which we’ve never seen.”
end quotes
Now, Joe scoffs at that prediction because he is not only convinced of his greatness, but more to the point, in addition to being a CLASSIC CLIMATE DENIER who denies that his policies are a cause of climate change, and indeed are drivers of climate change, Joe is a CLASSIC INFLATION DENIER who denies that his fiscal policies are a cause of inflation and a driver of inflation, which takes us back to July 19, 2021 and “Remarks by President Biden on the Economy,” where we have more spew from Joe on the subject of inflation, as follows:
THE PRESIDENT: We also know that as our economy has come roaring back, we’ve seen some price increases.
Some folks have raised worries that this could be a sign of persistent inflation.
But that’s not our view.
Our experts believe and the data shows that most of the price increases we’ve seen are — were expected and expected to be temporary.
Economists call all of these things “transitory effects.”
end quotes
And every day of the week, economists are dead wrong in their predictions, just as they were with that “transitory” bull**** Joe was spewing there on July 19, 2021, which takes us to a Reuters article titled “White House closely tracking commercial real estate – White House economist” by Andrea Shalal on April 18, 2023, as follows, to wit:
On the issue of inflation, Bernstein conceded that the Biden administration’s use of the word “transitory” had not been helpful and had left open questions of how quickly inflation could be expected to start easing.
Still, he conceded that inflation had lasted longer than when the term “transitory” was first used.
“The word is not a helpful term.”
“It’s too ambiguous,” he said.
end quotes
And we here at the CCM who do not have our heads in our ***** knew that all along, that Joe Biden and “TOODLES” Yellen and the morons on the federal reserve were feeding us pure bull**** with that “transitory” horsecrap!
And since we have that article up, and since we are talking about whether or not Joe Biden can actually live up to the prediction that under Joe Biden, we are going to “see a depression the likes of which we’ve never seen,” which I think Joe can actually pull off, let’s go back to the article to see if maybe there are some warning signs in there we should perhaps heed, given that according to the article, Joe’s own White House is saying that it is closely tracking developments in commercial real estate after recent strains in the banking sector, given that many smaller and mid-sized banks have “non-trivial” holdings in commercial real estate, and Jared Bernstein, a member of the White House Council of Economic Advisers (CEA), was telling a Senate Banking Committee hearing that occupancy rates in commercial real estate were well below pre-COVID levels and delinquencies had risen a bit recently, to wit:
“The issue is very much on our watchlist,” Bernstein said during a hearing on his nomination to head CEA, when asked by Democratic Senator Mark Warner about the impact of the collapse of Silicon Valley Bank (SVB) on the sector.
Warner noted that close to $6 trillion in outstanding commercial debt was related to the real estate market, and a “massive dislocation” was under way.
end quotes
So, people, given we are on the subject of whether or not Joe Biden can lead us into a GLOBAL DEPRESSSION, which I think he can, and given that that $6 trillion in outstanding commercial debt related to the real estate market is very much on Joe Biden’s watchlist, should it be on ours, too?
And there for the moment I will rest, leaving behind the thought that before the stock market collapse occurred in 1929, starting the GREAT DEPRESSION, a period in American history known as the ROARING TWENTIES occurred, with the GREAT DEPRESSION following on the heels of, so that if one is searching for causes of the GREAT DEPRESSION, one looks to the ROARING TWENTIES before 1929 for the causative factors, not after 1929.
http://www.capecharlesmirror.com/op-ed- ... ent-798465
Paul R. Plante says:
And yes, people, causes of the GREAT DEPRESSION, which takes us back, for a moment, to July 19, 2021 and “Remarks by President Biden on the Economy,” where we have Joe spewing forth about how utterly great he is, and how he is the best president we have ever had, and we ought to be very thankful we have Joe in there fighting for us, 24/7/365 to create for us a MIRACLE ECONOMY based on BIDEN-O-NOMICS, which is really Marxist economics by a different name, that is from the bottom up and the middle out, where the rich do quite well by feeding off those in the middle class as well as those at the bottom who are getting crushed by Joe Biden’s INFLATION TAX, as follows:
THE PRESIDENT: Well, good morning.
Tomorrow marks exactly six months since my administration began.
I think it’s a fitting moment to take a look at our economy — where we were six months ago, what we’ve achieved since then, and what I believe we’ve — I believe where we’re headed.
Before I took office, there was a lot of folks out there — a lot of folks out there making some pretty bold predictions about how things would turn out.
You might remember some of the predictions.
That if I became President, we’d, quote, “see a depression the likes of which we’ve never seen.”
end quotes
Now, Joe scoffs at that prediction because he is not only convinced of his greatness, but more to the point, in addition to being a CLASSIC CLIMATE DENIER who denies that his policies are a cause of climate change, and indeed are drivers of climate change, Joe is a CLASSIC INFLATION DENIER who denies that his fiscal policies are a cause of inflation and a driver of inflation, which takes us back to July 19, 2021 and “Remarks by President Biden on the Economy,” where we have more spew from Joe on the subject of inflation, as follows:
THE PRESIDENT: We also know that as our economy has come roaring back, we’ve seen some price increases.
Some folks have raised worries that this could be a sign of persistent inflation.
But that’s not our view.
Our experts believe and the data shows that most of the price increases we’ve seen are — were expected and expected to be temporary.
Economists call all of these things “transitory effects.”
end quotes
And every day of the week, economists are dead wrong in their predictions, just as they were with that “transitory” bull**** Joe was spewing there on July 19, 2021, which takes us to a Reuters article titled “White House closely tracking commercial real estate – White House economist” by Andrea Shalal on April 18, 2023, as follows, to wit:
On the issue of inflation, Bernstein conceded that the Biden administration’s use of the word “transitory” had not been helpful and had left open questions of how quickly inflation could be expected to start easing.
Still, he conceded that inflation had lasted longer than when the term “transitory” was first used.
“The word is not a helpful term.”
“It’s too ambiguous,” he said.
end quotes
And we here at the CCM who do not have our heads in our ***** knew that all along, that Joe Biden and “TOODLES” Yellen and the morons on the federal reserve were feeding us pure bull**** with that “transitory” horsecrap!
And since we have that article up, and since we are talking about whether or not Joe Biden can actually live up to the prediction that under Joe Biden, we are going to “see a depression the likes of which we’ve never seen,” which I think Joe can actually pull off, let’s go back to the article to see if maybe there are some warning signs in there we should perhaps heed, given that according to the article, Joe’s own White House is saying that it is closely tracking developments in commercial real estate after recent strains in the banking sector, given that many smaller and mid-sized banks have “non-trivial” holdings in commercial real estate, and Jared Bernstein, a member of the White House Council of Economic Advisers (CEA), was telling a Senate Banking Committee hearing that occupancy rates in commercial real estate were well below pre-COVID levels and delinquencies had risen a bit recently, to wit:
“The issue is very much on our watchlist,” Bernstein said during a hearing on his nomination to head CEA, when asked by Democratic Senator Mark Warner about the impact of the collapse of Silicon Valley Bank (SVB) on the sector.
Warner noted that close to $6 trillion in outstanding commercial debt was related to the real estate market, and a “massive dislocation” was under way.
end quotes
So, people, given we are on the subject of whether or not Joe Biden can lead us into a GLOBAL DEPRESSSION, which I think he can, and given that that $6 trillion in outstanding commercial debt related to the real estate market is very much on Joe Biden’s watchlist, should it be on ours, too?
And there for the moment I will rest, leaving behind the thought that before the stock market collapse occurred in 1929, starting the GREAT DEPRESSION, a period in American history known as the ROARING TWENTIES occurred, with the GREAT DEPRESSION following on the heels of, so that if one is searching for causes of the GREAT DEPRESSION, one looks to the ROARING TWENTIES before 1929 for the causative factors, not after 1929.
http://www.capecharlesmirror.com/op-ed- ... ent-798465
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR MAY 11, 2023 AT 9:07 PM
Paul R. Plante says:
And while we are on the subject of Joe Biden being a CLASSIC INFLATION DENIER, denying that his MASSIVE CORPORATE WELFARE PROGRAMS where Joe is handing out fistfulls of greenback dollars are a cause of inflation, let’s go back once more to July 19, 2021 and “Remarks by President Biden on the Economy,” where we have more INFLATION DENIALISM from Joe Biden, to wit:
If we increase the availability of quality, affordable childcare, eldercare, paid leave, more people will enter the workforce.
These steps will enhance our productivity — raising wages without raising prices.
That won’t increase inflation.
It will take the pressure off of inflation, give a boost to our workforce, which leads to lower prices in the years ahead.
So, if your primary concern right now is inflation, you should be even more enthusiastic about this plan.
end quotes
How Joe does that math is a mystery to me, and I strongly suspect it is a mystery to Joe Biden, as well, and as to our productivity since Joe Biden has been in office, let’s go to a Reuters article entitled “US labor market defies rate hikes, posts strong job gains” by Lucia Mutikani on May 5, 2023, where we have as follows:
The pick-up in business output early in the second quarter and the rise in hours worked bodes well for a bounce-back in productivity, which surged right after the pandemic in 2021, but has declined on a year-over-year basis since then for five straight quarters, the longest such stretch since the government started tracking the series in 1948.
end quotes
So instead of productivity under Joe Biden going up, it has gone down, instead, and as to inflation not being a problem let’s go back to that same Reuters article where we have this to consider:
Wages increased 4.4% on a year-on-year basis in April after climbing 4.3% in March, coming close to alignment with other measures such as the Employment Cost Index and the Atlanta Fed’s wage tracker.
Wage growth is too strong to be consistent with the Fed’s 2% inflation target.
end quotes
So while Joe is saying one thing, reality is saying something entirely different which brings us to a CNBC article titled “Inflation rate eases to 4.9% in April, less than expectations” by Jeff Cox on May 10 2023, to wit:
A widely followed measure of inflation rose in April, though the pace of the annual increase provided some hope that the cost of living will head lower later this year.
end quote
Which takes us back to Joe on July 19, 2021, to wit:
I’ve said it before, and it’s true: This is a blue-collar blueprint for building an American economy back.
Simply put, we can’t afford not to make these investments.
And we’re going to pay for them responsibly as well, by ensuring that our largest corporations and the very wealthiest among us pay their fair share by reforming our international tax system with a minimum global tax, which we’ve led the world to agree to.
Let me close with this: When I arrived in office, it had been a long time since the government had worked for the people.
Things had been great for big corporations and folks at the top.
Those 55 major corporations that paid zero in income tax while making billions in profits, they had no complaints.
But when I took office, I made a commitment — a commitment to the American people that we were going to change that paradigm so working families could have a fighting chance again to get a good education; to get a good job and a raise; to take care of the elderly parent or the child with the disability and still be able to go out and earn a good living; to stop losing hours of their lives stuck in traffic because the streets are crumbling; or waiting for slow, spotty Internet to connect them to the world.
That’s what the economy we’re building is all about.
That’s why we passed the American Rescue Plan.
And that’s why we need the investment of the Bipartisan Infrastructure Framework and my Build Back Better plan.
Our economy has come a long way over the last six months.
We can’t slow down now.
We can make this boom we’re experiencing today one that will ensure that all Americans have an opportunity to share in it for years to come.
And we can show the world that American democracy can deliver for the people.
I look forward to continuing to build this economy.
And I’m incredibly optimistic about what we’re going to be able to build together in the next six months and the years to come.
Thank you all for listening.
May God bless you.
end quotes
And there for the moment I will rest.
http://www.capecharlesmirror.com/op-ed- ... ent-798826
Paul R. Plante says:
And while we are on the subject of Joe Biden being a CLASSIC INFLATION DENIER, denying that his MASSIVE CORPORATE WELFARE PROGRAMS where Joe is handing out fistfulls of greenback dollars are a cause of inflation, let’s go back once more to July 19, 2021 and “Remarks by President Biden on the Economy,” where we have more INFLATION DENIALISM from Joe Biden, to wit:
If we increase the availability of quality, affordable childcare, eldercare, paid leave, more people will enter the workforce.
These steps will enhance our productivity — raising wages without raising prices.
That won’t increase inflation.
It will take the pressure off of inflation, give a boost to our workforce, which leads to lower prices in the years ahead.
So, if your primary concern right now is inflation, you should be even more enthusiastic about this plan.
end quotes
How Joe does that math is a mystery to me, and I strongly suspect it is a mystery to Joe Biden, as well, and as to our productivity since Joe Biden has been in office, let’s go to a Reuters article entitled “US labor market defies rate hikes, posts strong job gains” by Lucia Mutikani on May 5, 2023, where we have as follows:
The pick-up in business output early in the second quarter and the rise in hours worked bodes well for a bounce-back in productivity, which surged right after the pandemic in 2021, but has declined on a year-over-year basis since then for five straight quarters, the longest such stretch since the government started tracking the series in 1948.
end quotes
So instead of productivity under Joe Biden going up, it has gone down, instead, and as to inflation not being a problem let’s go back to that same Reuters article where we have this to consider:
Wages increased 4.4% on a year-on-year basis in April after climbing 4.3% in March, coming close to alignment with other measures such as the Employment Cost Index and the Atlanta Fed’s wage tracker.
Wage growth is too strong to be consistent with the Fed’s 2% inflation target.
end quotes
So while Joe is saying one thing, reality is saying something entirely different which brings us to a CNBC article titled “Inflation rate eases to 4.9% in April, less than expectations” by Jeff Cox on May 10 2023, to wit:
A widely followed measure of inflation rose in April, though the pace of the annual increase provided some hope that the cost of living will head lower later this year.
end quote
Which takes us back to Joe on July 19, 2021, to wit:
I’ve said it before, and it’s true: This is a blue-collar blueprint for building an American economy back.
Simply put, we can’t afford not to make these investments.
And we’re going to pay for them responsibly as well, by ensuring that our largest corporations and the very wealthiest among us pay their fair share by reforming our international tax system with a minimum global tax, which we’ve led the world to agree to.
Let me close with this: When I arrived in office, it had been a long time since the government had worked for the people.
Things had been great for big corporations and folks at the top.
Those 55 major corporations that paid zero in income tax while making billions in profits, they had no complaints.
But when I took office, I made a commitment — a commitment to the American people that we were going to change that paradigm so working families could have a fighting chance again to get a good education; to get a good job and a raise; to take care of the elderly parent or the child with the disability and still be able to go out and earn a good living; to stop losing hours of their lives stuck in traffic because the streets are crumbling; or waiting for slow, spotty Internet to connect them to the world.
That’s what the economy we’re building is all about.
That’s why we passed the American Rescue Plan.
And that’s why we need the investment of the Bipartisan Infrastructure Framework and my Build Back Better plan.
Our economy has come a long way over the last six months.
We can’t slow down now.
We can make this boom we’re experiencing today one that will ensure that all Americans have an opportunity to share in it for years to come.
And we can show the world that American democracy can deliver for the people.
I look forward to continuing to build this economy.
And I’m incredibly optimistic about what we’re going to be able to build together in the next six months and the years to come.
Thank you all for listening.
May God bless you.
end quotes
And there for the moment I will rest.
http://www.capecharlesmirror.com/op-ed- ... ent-798826
Re: ON JOE BIDEN'S RIGGED "GREEN" GAME
THE CAPE CHARLES MIRROR MAY 13, 2023 AT 10:34 PM
Paul R. Plante says:
Staying with Joe Biden’s RIGGED GREEN GAME, let’s once more go back to July 19, 2021 and “Remarks by President Biden on the Economy,” where we have Joe saying, as follows; to wit:
I’ve said it before, and it’s true: This is a blue-collar blueprint for building an American economy back.
Simply put, we can’t afford not to make these investments.
And we’re going to pay for them responsibly as well, by ensuring that our largest corporations and the very wealthiest among us pay their fair share by reforming our international tax system with a minimum global tax, which we’ve led the world to agree to.
end quotes
So is it really true that this is a blue-collar blueprint for building an American economy back?
Let’s go to a Reuters article titled “US weekly jobless claims hit 1-1/2-year high; inflation subsiding” by Lucia Mutikani on May 10, 2023, where we have as follows on that subject, to wit:
WASHINGTON, May 10 (Reuters) – The number of Americans filing new claims for unemployment benefits jumped to a 1-1/2-year high last week, pointing to cracks in the labor market as demand slows, potentially giving the Federal Reserve room to halt further interest rate increases next month.
Initial claims for state unemployment benefits increased 22,000 to a seasonally adjusted 264,000 for the week ended May 6, the highest reading since October 2021.
Economists polled by Reuters had forecast 245,000 claims for the latest week.
The four-week moving average of claims, considered a better measure of labor market trends as it strips out week-to-week volatility, rose 6,000 to 245,250, the highest level since November 2021.
Layoffs, which were initially concentrated in the technology and housing sectors, appear to be spreading to other industries as companies gear for weak demand.
end quotes
And there we have that term “weak demand” again, which takes us back in time to the GREAT DEPRESSION where we have this from Britannica, as follows:
The fundamental cause of the Great Depression in the United States was a decline in spending (sometimes referred to as aggregate demand), which led to a decline in production as manufacturers and merchandisers noticed an unintended rise in inventories.
end quotes
And what about Joe’s statement that we are going to pay for his MASSIVE CORPORATE WELFARE SYSTEM responsibly as well, by ensuring that our largest corporations and the very wealthiest among us pay their fair share?
To see if there is any truth whatsoever in that assertion, let’s go to a Reuters article titled “U.S. government posts smaller $176 bln April surplus as revenues shrink” by David Lawder on May 10, 2023, where we have as follows, to wit:
Corporate tax receipts also fell 11% to $85 billion and the Federal Reserve again had no earnings in April, after contributing $10 billion to April 2022 receipts.
April interest on the federal debt rose 27% from a year ago to $76 billion.
The Treasury reported a $925 billion deficit for the first seven months of the 2023 fiscal year, a 157% increase from the $360 billion deficit a year earlier.
Year-to-date receipts totaled $2.687 trillion, down 10% from the record $2.986 trillion in the year-ago periods.
Outlays for the first seven months totaled $3.611 trillion, up 8% from the $3.346 trillion in the prior-year period.
end quotes
Given that those are the government’s own figures, it would appear that Joe Biden was lying to us when he told us these programs would be paid for responsibly, which takes us to a Washington Examiner story titled “The federal deficit rose by 63% in one year. Why is Biden resisting spending reforms?” by Tiana Lowe Doescher on 9 May 2023, where we have a reality check on Joe Biden’s specious claim, to wit:
Without a drawdown of the federal deficit, a debt ceiling increase would only delay the inevitable.
At the government’s current rate of spending competing against inflation, a default on our national debt is a matter of “when,” not “if.”
The latest release from the nonpartisan Congressional Budget Office puts it in stark terms.
In just the first seven months of fiscal 2023, the federal budget deficit reached almost $1 trillion — a 63% increase from the $568 billion deficit recorded in the first seven months of fiscal 2022.
And if not for a few timing quirks that pushed payments for this fiscal year back into the last, the deficit increase would have actually reached 74% from fiscal 2022 to 2023.
On the other side of the equation, federal spending rose by 8% in the first seven months of the fiscal year.
Much of the increase resulted from higher interest costs on paying down the national debt — up 40% thanks to the Fed’s interest rate hikes, again a consequence of inflation.
Despite the pandemic being over and Democrats having already achieved the “full employment” they have always dreamt of, we’re on track to spend nearly $2 trillion this fiscal year.
From the cost of borrowing to our dismal labor force participation rate, the federal government has managed to worsen every element on both sides of the equation.
end quotes
So, every story paints a picture, don’t it, and this picture looks very much like a picture from 1929!
So, can Joe Biden dish us up a depression like never seen before?
Stay tuned!
http://www.capecharlesmirror.com/op-ed- ... ent-799525
Paul R. Plante says:
Staying with Joe Biden’s RIGGED GREEN GAME, let’s once more go back to July 19, 2021 and “Remarks by President Biden on the Economy,” where we have Joe saying, as follows; to wit:
I’ve said it before, and it’s true: This is a blue-collar blueprint for building an American economy back.
Simply put, we can’t afford not to make these investments.
And we’re going to pay for them responsibly as well, by ensuring that our largest corporations and the very wealthiest among us pay their fair share by reforming our international tax system with a minimum global tax, which we’ve led the world to agree to.
end quotes
So is it really true that this is a blue-collar blueprint for building an American economy back?
Let’s go to a Reuters article titled “US weekly jobless claims hit 1-1/2-year high; inflation subsiding” by Lucia Mutikani on May 10, 2023, where we have as follows on that subject, to wit:
WASHINGTON, May 10 (Reuters) – The number of Americans filing new claims for unemployment benefits jumped to a 1-1/2-year high last week, pointing to cracks in the labor market as demand slows, potentially giving the Federal Reserve room to halt further interest rate increases next month.
Initial claims for state unemployment benefits increased 22,000 to a seasonally adjusted 264,000 for the week ended May 6, the highest reading since October 2021.
Economists polled by Reuters had forecast 245,000 claims for the latest week.
The four-week moving average of claims, considered a better measure of labor market trends as it strips out week-to-week volatility, rose 6,000 to 245,250, the highest level since November 2021.
Layoffs, which were initially concentrated in the technology and housing sectors, appear to be spreading to other industries as companies gear for weak demand.
end quotes
And there we have that term “weak demand” again, which takes us back in time to the GREAT DEPRESSION where we have this from Britannica, as follows:
The fundamental cause of the Great Depression in the United States was a decline in spending (sometimes referred to as aggregate demand), which led to a decline in production as manufacturers and merchandisers noticed an unintended rise in inventories.
end quotes
And what about Joe’s statement that we are going to pay for his MASSIVE CORPORATE WELFARE SYSTEM responsibly as well, by ensuring that our largest corporations and the very wealthiest among us pay their fair share?
To see if there is any truth whatsoever in that assertion, let’s go to a Reuters article titled “U.S. government posts smaller $176 bln April surplus as revenues shrink” by David Lawder on May 10, 2023, where we have as follows, to wit:
Corporate tax receipts also fell 11% to $85 billion and the Federal Reserve again had no earnings in April, after contributing $10 billion to April 2022 receipts.
April interest on the federal debt rose 27% from a year ago to $76 billion.
The Treasury reported a $925 billion deficit for the first seven months of the 2023 fiscal year, a 157% increase from the $360 billion deficit a year earlier.
Year-to-date receipts totaled $2.687 trillion, down 10% from the record $2.986 trillion in the year-ago periods.
Outlays for the first seven months totaled $3.611 trillion, up 8% from the $3.346 trillion in the prior-year period.
end quotes
Given that those are the government’s own figures, it would appear that Joe Biden was lying to us when he told us these programs would be paid for responsibly, which takes us to a Washington Examiner story titled “The federal deficit rose by 63% in one year. Why is Biden resisting spending reforms?” by Tiana Lowe Doescher on 9 May 2023, where we have a reality check on Joe Biden’s specious claim, to wit:
Without a drawdown of the federal deficit, a debt ceiling increase would only delay the inevitable.
At the government’s current rate of spending competing against inflation, a default on our national debt is a matter of “when,” not “if.”
The latest release from the nonpartisan Congressional Budget Office puts it in stark terms.
In just the first seven months of fiscal 2023, the federal budget deficit reached almost $1 trillion — a 63% increase from the $568 billion deficit recorded in the first seven months of fiscal 2022.
And if not for a few timing quirks that pushed payments for this fiscal year back into the last, the deficit increase would have actually reached 74% from fiscal 2022 to 2023.
On the other side of the equation, federal spending rose by 8% in the first seven months of the fiscal year.
Much of the increase resulted from higher interest costs on paying down the national debt — up 40% thanks to the Fed’s interest rate hikes, again a consequence of inflation.
Despite the pandemic being over and Democrats having already achieved the “full employment” they have always dreamt of, we’re on track to spend nearly $2 trillion this fiscal year.
From the cost of borrowing to our dismal labor force participation rate, the federal government has managed to worsen every element on both sides of the equation.
end quotes
So, every story paints a picture, don’t it, and this picture looks very much like a picture from 1929!
So, can Joe Biden dish us up a depression like never seen before?
Stay tuned!
http://www.capecharlesmirror.com/op-ed- ... ent-799525