THE CAPE CHARLES MIRROR MARCH 1, 2024 AT 7:31 PM
Paul Plante says:
What we are seeing here, people, quite simply, is the continued transformation of our national economy we were warned about by Biden Treasury Secretary Janet “TOODLES” Yellen in her “Remarks by Secretary of the Treasury Janet L. Yellen on the State of the U.S. Economy in Chicago, Illinois” on January 25, 2024, where “TOODLES” said to all of us here in America, and in the world, as well, if not the whole of the galaxy, “I’m honored to be here at the Economic Club of Chicago to talk about the middle class in America: from when the pandemic hit, to the recovery, to what’s ahead.”
And “what’s ahead” from then is where we are now, with Biden Commerce Secretary Gina Raimondo implementing Stalin-Era Central Planning in America using the Commerce Department as her vehicle for doing so, which in turn is making her a literal CZAR OF BUSINESS here in America, where Gina gets to choose who is going to be a winner, and who she is going to have be the losers, with federal government money being the determining factor with regard to who gets to be the one, versus who is made the other by Gina, which takes us back to “TOODLES” on January 25, 2024, where we had more on BIDE-O-NOMICS and BIDE-O-NISM, as follows:
Overall, the Biden Administration has put in place the most extensive set of policies and investments to benefit the middle class and grow the economy that our country has seen in my lifetime.
Our economic plan is improving lives and laying the foundation for a new future for middle-class families and communities across the country.
The President and I understand that many Americans have long felt a deeper pessimism about the economy, going back far before the pandemic.
Due to the longer-term trends that I described, life is still harder than it should be for the middle class in this country.
To change this, our modern supply-side strategy is designed to build off of our historic recovery and continue charting a new course.
end quotes
Yes, people, Joe and “TOODLES” are indeed charting a new course, and they are using Joe Stalin’s first FIVE-YEAR PLAN as their model, because the Soviet Union’s achievements were tremendous during the first five-year plan, which yielded a fifty-percent increase in industrial output, and if it worked for DEMOCRAT ICON Joe Stalin in the Soviet Union, it should work for Joe Biden and the MIDDLE CLASS of America, as well, even if it leaves behind those of us on the bottom, which takes us back to January 25, 2024 and more “TOODLES,” as follows:
We’re focused on boosting our economic capacity in order to deliver robust and shared economic growth.
end quote
And that is what we are seeing Gina Raimondo about here, with her grants of money to the likes of Plug Power, essentially a ZOMBIE BUSINESS, without an influx if government money to keep it functioning, and GlobalFoundries, which again takes us back to “TOODLES” out there on the campaign trail politicking her little heart out for Joe while trying her best to sell us on the BIDEN BRAND, for more, as follows:
Our aim is to make middle-class lives better: for the short haul and for the long haul.
Infrastructure
We started with infrastructure.
Our country’s infrastructure has been deteriorating for decades.
In the Trump Administration, the idea of doing anything to fix it was a punch line.
But this Administration has delivered.
The Bipartisan Infrastructure Law is a $1.2 trillion investment in our nation’s infrastructure.
It is bringing new opportunities within reach for middle-class families.
It’s creating new construction jobs that do not require a college degree.
It’s providing access to clean water and to better internet.
It’s helping goods get to consumers faster and at lower cost.
These changes are happening everywhere in America, not just on the coasts or in wealthier communities.
Treasury analysis shows that funding from the Bipartisan Infrastructure Law is especially going to states with the lowest-rated public infrastructure and lower median household incomes.
Through infrastructure investment, we’re helping build a new future for people and places that have historically been left behind.
Manufacturing and Energy
Infrastructure is just the beginning.
The CHIPS and Science Act and the Inflation Reduction Act are reinvigorating American manufacturing, including through incentivizing private sector investments.
Companies have announced over $600 billion in manufacturing and clean energy investments since the start of the Administration.
These investments will fuel our economic growth and increase our economic security.
But I want to emphasize today how they’ll change middle-class lives.
The reinvigoration of manufacturing means new jobs for middle-class Americans, especially in places where potential exists, but opportunity has failed.
The IRA provides incentives to locate projects in low-income communities and in energy communities where the local economy has historically been dependent on fossil fuels.
These incentives are working.
Investments are growing faster in energy communities and in greater amounts.
Since the IRA was passed, 70 percent of IRA-related investments have been in counties where the employment rate is below the national average and 86 percent have been in counties with college graduation rates below average.
We’re also working to make sure these jobs are good ones.
The IRA’s prevailing wage and apprenticeship requirements help ensure fair wages and pathways into new industries.
The President and I are also strong supporters of unions.
Union members typically have higher wages, by around 10 to 15 percent.
They have greater access to critical fringe benefits, such as retirement benefits, medical benefits, and life insurance.
Union members also benefit from more scheduling predictability and better workplace safety.
My own academic work has found that these non-monetary factors are a key driver of job satisfaction.
And we know it’s not just good jobs that matter to people.
What follows them also matters, so we’re working to support Americans in planning for retirement.
The American Rescue Plan provided support to multiemployer pensions, protecting millions of pensions, including restoring benefits for thousands of workers and retirees who had had their benefits cut.
In October, we proposed a new rule that cracks down on additional barriers to retirement security, such as junk fees.
None of these policies are aiming to recreate an earlier era.
This country and the world have changed and we cannot go back.
What we need is a new future rooted in upgraded infrastructure and a modern tax system, fueled by twenty-first century industries, and with the middle class at its center.
The Administration is building the foundations of that future.
Our economic agenda is far from finished.
There’s much more the President and I would like to do to support the middle class.
When the expanded Child Tax Credit expired, millions of children were pushed back into poverty.
It is still too hard to be a working parent.
We need to get American families access to affordable childcare and other support for their children.
As these children get older, they should be able to get a good education, including through free community college, and receive training that prepares them for good jobs.
As they work, they should be able to afford quality housing near economic opportunities.
And as they get older, they should be able to retire with dignity.
We need to do more here too.
The obstacles the middle class has faced for decades will not disappear overnight.
But this Administration is fighting the right fight: for economic policy that makes a meaningful difference in people’s lives.
It’s what motivated me to become an economist and has been the central mission throughout my career.
And it has shaped this Administration’s actions as we have responded to the pandemic, as we have driven a strong and fair recovery, and as we are putting in place the building blocks for continued growth.
If we keep at it, America will continue its progress in overcoming the challenges facing the middle class.
The middle class has always driven the success of our country.
It will continue to lead our future.
end quotes
And with all of that to consider, it is time to take a break for station identification, but don’t change that dial because we will be back with more on BIDE-O-NISM, which in simple terms, is defined as a one party system of government with the Joe Biden in charge of everything, and in which each class, including the semi-fascists, the MAGAtards, the BASKET OF DEPLORABLES, and the DREGS OF SOCIETY have their distinct place, function, and representation in the government, with some being very much more equal than those below them in the social hierarchy that separates Biden Democrats from everybody else in America, while the individual, that being us, is subordinated to the state and control is maintained by military forces, secret police, rigid censorship, and governmental regimentation of industry and finance, so stay tuned!
http://www.capecharlesmirror.com/paul-p ... ent-904226
WHERE I HAVE BEEN, AND WHY
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 2, 2024 AT 7:01 PM
Paul Plante says:
And seriously, people, anymore, as this story of BIDE-O-NISM in America continues to be told, courtesy of the Cape Charles Mirror, a GRAND PALLADIUM of OUR LIBERTY, where do we even begin anymore to try and make sense out of what makes absolutely no sense whatsoever, at all.
First of all, consider that despite Article 1, Section 9, Clause 7 of the United States Constitution containing two clauses, those being the Appropriations Clause and the Statement and Accounts Clause, wherein is clearly stated that “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time,” which Kate Stith from the Yale Law School states is part of the “job description” of Congress, “Like the appropriations requirement, this [Statement and Accounts] requirement states not a power but a legislative duty that has been interpreted to require an annual budget,” we in fact have no budget, period.
To the contrary, according to a Reuters article titled “Biden signs stopgap spending bill to avert government shutdown, White House says” on March 1, 2024, Joe Biden has signed into law a short-term stopgap spending bill to avert a partial government shutdown, the White House said on Friday, which is a recipe for fiscal disaster, as it quite literally gives Joe Biden a BLANK CHECK to spend as recklessly as he chooses, with we, the people getting handed the bill.
Think I’m kidding, people?
Not a joke as we see by going to a CNBC article titled “The U.S. national debt is rising by $1 trillion about every 100 days” by Michelle Fox on March 1, 2024 for this dose of reality we are all facing as a result of Joe Biden’s incredible FISCAL PROFLIGACY, with no one having a clue as to where all this money is disappearing to, to wit:
The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days.
end quotes
Yes, people, you are indeed reading that right: Joe Biden is blowing through a TRILLION DOLLARS in three months with no accountability or oversight whatsoever as to where that money has went, which takes us back to that story, to wit:
The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury.
It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace.
Before that, the $1 trillion move higher from $31 trillion took about eight months.
U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion, as of Wednesday.
Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.
Moody’s Investors Service lowered its ratings outlook on the U.S. government to negative from stable in November due to the rising risks of the country’s fiscal strength.
“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues,” the agency said.
“Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.”
end quotes
And as Joe Biden just proved there on March 1, 2024 by signing that BLANK CHECK short-term stopgap spending bill, there are no effective fiscal policy measures in place to reduce government spending or increase revenues, nor will there be, so long as the worthless congress and the American people give Joe Biden carte blanche to spend as much as he wants on whatever he wants with no accountability, which takes us back in time to Justice Joseph Story and how he defined the relationship between the two clauses in his Commentaries on the Constitution, to wit:
“The power to control and direct the appropriations constitutes a most useful and salutary check upon profusion and extravagance, as well as upon corrupt influence and public speculation.”
“And to make their (Congress) responsibility complete and perfect, a regular account of the receipts and expenditures is required to be published, that the people may know, what money is expended, for what purposes, and by what authority.”
And all of that is now gone, people, long gone, and we are fools for letting it happen right before our eyes, which takes us back to circa 1936, and H.L. Mencken in “On Politics: A Carnival of Buncombe,” wherein is stated as follows, which in turn describes exactly where we are today in America with the FISCALLY IRRESPONSIBLE AND PROFLIGATE Joe Biden in power, to wit:
“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people.”
“On some great and glorious day the plain folks of the land will reach their heart’s desire at last and the White House will be adorned by a downright moron.”
That great and glorious day in America when the plain folks of the land reached their heart’s desire at last and adorned the White House with a downright moron named Joseph Robinette Biden, Junior occurred in November of 2020, to our detriment as a nation and as a people, which takes us back to H.L. Mencken in “Prejudices: Third Series,” where I swear he seems to be talking about me:
“The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos.”
“Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable…”
http://www.capecharlesmirror.com/paul-p ... ent-904465
Paul Plante says:
And seriously, people, anymore, as this story of BIDE-O-NISM in America continues to be told, courtesy of the Cape Charles Mirror, a GRAND PALLADIUM of OUR LIBERTY, where do we even begin anymore to try and make sense out of what makes absolutely no sense whatsoever, at all.
First of all, consider that despite Article 1, Section 9, Clause 7 of the United States Constitution containing two clauses, those being the Appropriations Clause and the Statement and Accounts Clause, wherein is clearly stated that “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time,” which Kate Stith from the Yale Law School states is part of the “job description” of Congress, “Like the appropriations requirement, this [Statement and Accounts] requirement states not a power but a legislative duty that has been interpreted to require an annual budget,” we in fact have no budget, period.
To the contrary, according to a Reuters article titled “Biden signs stopgap spending bill to avert government shutdown, White House says” on March 1, 2024, Joe Biden has signed into law a short-term stopgap spending bill to avert a partial government shutdown, the White House said on Friday, which is a recipe for fiscal disaster, as it quite literally gives Joe Biden a BLANK CHECK to spend as recklessly as he chooses, with we, the people getting handed the bill.
Think I’m kidding, people?
Not a joke as we see by going to a CNBC article titled “The U.S. national debt is rising by $1 trillion about every 100 days” by Michelle Fox on March 1, 2024 for this dose of reality we are all facing as a result of Joe Biden’s incredible FISCAL PROFLIGACY, with no one having a clue as to where all this money is disappearing to, to wit:
The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days.
end quotes
Yes, people, you are indeed reading that right: Joe Biden is blowing through a TRILLION DOLLARS in three months with no accountability or oversight whatsoever as to where that money has went, which takes us back to that story, to wit:
The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury.
It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace.
Before that, the $1 trillion move higher from $31 trillion took about eight months.
U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion, as of Wednesday.
Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.
Moody’s Investors Service lowered its ratings outlook on the U.S. government to negative from stable in November due to the rising risks of the country’s fiscal strength.
“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues,” the agency said.
“Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.”
end quotes
And as Joe Biden just proved there on March 1, 2024 by signing that BLANK CHECK short-term stopgap spending bill, there are no effective fiscal policy measures in place to reduce government spending or increase revenues, nor will there be, so long as the worthless congress and the American people give Joe Biden carte blanche to spend as much as he wants on whatever he wants with no accountability, which takes us back in time to Justice Joseph Story and how he defined the relationship between the two clauses in his Commentaries on the Constitution, to wit:
“The power to control and direct the appropriations constitutes a most useful and salutary check upon profusion and extravagance, as well as upon corrupt influence and public speculation.”
“And to make their (Congress) responsibility complete and perfect, a regular account of the receipts and expenditures is required to be published, that the people may know, what money is expended, for what purposes, and by what authority.”
And all of that is now gone, people, long gone, and we are fools for letting it happen right before our eyes, which takes us back to circa 1936, and H.L. Mencken in “On Politics: A Carnival of Buncombe,” wherein is stated as follows, which in turn describes exactly where we are today in America with the FISCALLY IRRESPONSIBLE AND PROFLIGATE Joe Biden in power, to wit:
“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people.”
“On some great and glorious day the plain folks of the land will reach their heart’s desire at last and the White House will be adorned by a downright moron.”
That great and glorious day in America when the plain folks of the land reached their heart’s desire at last and adorned the White House with a downright moron named Joseph Robinette Biden, Junior occurred in November of 2020, to our detriment as a nation and as a people, which takes us back to H.L. Mencken in “Prejudices: Third Series,” where I swear he seems to be talking about me:
“The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos.”
“Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable…”
http://www.capecharlesmirror.com/paul-p ... ent-904465
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 3, 2024 AT 11:14 PM
Paul Plante says:
For the record, a “snollygoster” is a shrewd, unprincipled person, while a “throttlebottom” is an innocuously inept and futile person in public office, which terms seem to describe Biden Treasury Secretary Janet “TOODLES” Yellen quite well, while her “Remarks by Secretary of the Treasury Janet L. Yellen on the State of the U.S. Economy in Chicago, Illinois” on January 25, 2024, is nothing more than a farrago of hopes, wishes, and just plain nonsense, which has “TOODLES” coming across as bumfuzzled, which is to say “in a state of bewilderment; confused or perplexed,” which in turn makes her out as an “ultracrepidarian,” which is to say “one who is presumptuous and offers advice or opinions beyond one’s sphere of knowledge,” and a “fopdoodle,” to boot, which means “TOODLES” is seen as insignificant, and here, since we just had a raft of economic news with which we can fact-check “TOODLES.” let’s go back to “TOODLES” on January 25, 2024, where we had this from “TOODLES” on BIDE-O-NOMICS, as follows:
Overall, the Biden Administration has put in place the most extensive set of policies and investments to benefit the middle class and grow the economy that our country has seen in my lifetime.
Our economic plan is improving lives and laying the foundation for a new future for middle-class families and communities across the country.
The President and I understand that many Americans have long felt a deeper pessimism about the economy, going back far before the pandemic.
Due to the longer-term trends that I described, life is still harder than it should be for the middle class in this country.
To change this, our modern supply-side strategy is designed to build off of our historic recovery and continue charting a new course.
The reinvigoration of manufacturing means new jobs for middle-class Americans, especially in places where potential exists, but opportunity has failed.
end quotes
So, people, how about her statement that the reinvigoration of manufacturing means new jobs for middle-class Americans, especially in places where potential exists, but opportunity has failed?
Have Joe Biden and “TOODLES” Yellen actually managed to do that – reinvigorate manufacturing in America?
If so, then why just the other day did Reuters have an article titled “US manufacturing contracts further” by Lucia Mutikani on March 1, 2024, where we learned as follo9ws, to wit:
WASHINGTON, March 1 (Reuters) – U.S. manufacturing slumped further in February, with a measure of factory employment falling to a seven-month low amid layoffs, but there were signs activity was on the cusp of rebounding.
end quote
If it is slumping, it counters the claim by “TOODLES” that she and Joe Biden have reinvigorated it, but let’s not make a hasty judgment here, so back for more we go:
The ISM said its manufacturing PMI fell to 47.8 last month from 49.1 in January.
It was the 16th straight month the PMI remained below 50, which indicates contraction in manufacturing.
That is the longest such stretch since the period from August 2000 to January 2002.
end quotes
How “TOODLES” gets “reinvigorated” out of that is a mystery to me, where the common meaning of the word “reinvigorate” is to give new energy or strength to something, which isn’t happening to manufacturing, which takes us back to Reuters for more, to wit:
So-called hard data from the government and Federal Reserve show manufacturing mostly treading water.
The ISM survey’s forward-looking new orders sub-index dropped to 49.2 last month after rebounding to 52.5 in January.
Production at factories was subdued, with the sub-index declining to 48.4 from 50.4 in January.
Customer inventories were considered too low for a third straight month, with shortages of some goods reported.
While that augurs well for future orders and production, there was a slight hint of supply chain constraints.
The survey’s measure of supplier deliveries rose to 50.1 from 49.1 in the prior month.
A reading above 50 indicates slower deliveries.
“For the second month, supplier responsiveness appears to be ‘stiffer,’ meaning some suppliers are struggling to keep up,” said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee.
Factory employment continued to shrink, with layoffs accounting for half of efforts by companies to reduce headcount.
Manufacturers also reported hiring freezes.
end quotes
So much for Joe and “TOODLES” reinvigorating manufacturing in America, then, which takes us to a Reuters article titled “US mortgage rates rise for a fourth-straight week, Freddie Mac says” by Amina Niasse on February 29, 2024, where we see what Joe Biden and his BIDE-O-NOMICS are doing to the middle class in America, to wit:
NEW YORK, Feb 29 (Reuters) – U.S. mortgage rates rose for a fourth-straight week, Freddie Mac reported on Thursday, reaching a two-month high and again becoming a factor impeding traffic among rate-sensitive prospective home buyers.
“The recent boomerang in rates has dampened already tentative homebuyer momentum as we approach the spring, a historically busy season for homebuying.”
“While sales of newly built homes are trending in a positive direction, higher rates and elevated prices continue to pose affordability challenges that may leave potential homebuyers on the sidelines,” said Sam Khater, Freddie Mac’s chief economist.
High mortgage rates eroded buyer traffic last year as tight inventory and home price gains limited affordability.
Home sales remain under pressure, with pending home sales retreating by 4.9% in January, according to National Association of Realtors data.
end quotes
The higher rates are caused by BIDENFLATION as a result of BIDE-O-NOMICS, which takes us to another Reuters article titled “US pending home sales fall in January as high mortgage rates deter buyers” by Amina Niasse on February 29, 2024, for more of what BIDE-O-NOMICS is doing to the middle-class in America, to wit:
NEW YORK, Feb 29 (Reuters) – Pending U.S. home sales retreated in January, a report on Thursday showed, as buyers continue to struggle with still-high mortgage rates.
The National Association of Realtors Pending Home Sales index fell 4.9% to 74.3.
The increase in pending sales in December was revised sharply lower to 5.7% from 8.3%, even as the index value for that month was revised higher, reflecting NAR revisions for 2023.
end quotes
And from there, we go to a CNBC article titled “Key Fed inflation measure rose 0.4% in January as expected, up 2.8% from a year ago” by Jeff Cox on February 29, 2024 for more on BIDE-O-NOMICS, to wit:
Inflation rose in line with expectations in January, according to an important gauge the Federal Reserve uses as it deliberates cutting interest rates.
The personal consumption expenditures price index excluding food and energy costs increased 0.4% for the month and 2.8% from a year ago, as expected according to the Dow Jones consensus estimates.
Headline PCE, including the volatile food and energy categories, increased 0.3% monthly and 2.4% on a 12-month basis, also as forecast, according to the numbers released Thursday by the Commerce Department’s Bureau of Economic Analysis.
Services prices increased 0.6% on the month while goods fell 0.2%; on a 12-month basis, services rose 3.9% and goods were down 0.5%.
Within those categories, food prices accelerated 0.5%, offset by a 1.4% slide in energy.
On a year-over-year basis, food was up 1.4% while energy fell 4.9%.
end quotes
And from there we go back to a Reuters article titled "Services drive US prices higher in January; inflation gradually cooling" by Lucia Mutikani on February 29, 2024, for this look at the Biden economy, to wit:
WASHINGTON, Feb 29 (Reuters) – U.S. prices accelerated in January amid a surge in the costs of services like housing and finance, but the annual increase in inflation was the smallest in three years, keeping a mid-year interest rate cut from the Federal Reserve on the table.
The report from the Commerce Department on Thursday also showed consumer spending slowing last month, restrained by decreases in outlays on goods, including motor vehicles, furniture and other long-lasting household equipment.
Services, which also include healthcare, restaurants, hotels and motels as well as recreation, are at the heart of the U.S. central bank's fight against inflation.
Excluding the volatile food and energy components, the PCE price index increased 0.4% last month.
Services prices jumped 0.6%, the most since last January, after climbing 0.3% in December.
They were boosted by a 0.6% rise in the cost of housing and utilities.
The cost of financial services and insurance surged 1.3%, likely reflecting higher share prices.
Prices for services at restaurants, bars, hotels and motels rose, as did those for recreation and healthcare.
end quotes
Healthcare, of course, under BIDE-O-MOMICS, was supposed to be coming down, not going up like it is, which takes us back to Reuters again, to wit:
PCE services inflation excluding energy and housing shot up 0.6% last month, the most since March 2022, after rising 0.3% in December.
The so-called super core inflation increased 3.5% on a year-on-year basis in January after rising 3.3% in December.
The super core inflation has risen at a 4.1% annualized rate in the past three months.
Policymakers are watching the super core measure to assess progress in their battle against inflation.
With inflation picking up, price-sensitive consumers slowed their spending last month.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.2% after increasing 0.7% in December.
When adjusted for inflation, spending fell 0.1% after rising 0.6% in December.
A Conference Board survey on Tuesday showed consumers less upbeat about the jobs market in February.
Income was boosted by a 3.2% cost-of-living adjustment for Social Security recipients and a special dividend paid by Costco Wholesale Corp.
But a sharp increase in taxes combined with inflation left income at the disposal of households unchanged after a 0.3% rise in December.
end quotes
So there we have some actual data to consider, people.
Does it really mean anything, however, when we have "TOODLES" Yellen telling us how good we all are doing thanks to BIDE-O-NOMICS in America?
Stay tuned.
http://www.capecharlesmirror.com/paul-p ... ent-904692
Paul Plante says:
For the record, a “snollygoster” is a shrewd, unprincipled person, while a “throttlebottom” is an innocuously inept and futile person in public office, which terms seem to describe Biden Treasury Secretary Janet “TOODLES” Yellen quite well, while her “Remarks by Secretary of the Treasury Janet L. Yellen on the State of the U.S. Economy in Chicago, Illinois” on January 25, 2024, is nothing more than a farrago of hopes, wishes, and just plain nonsense, which has “TOODLES” coming across as bumfuzzled, which is to say “in a state of bewilderment; confused or perplexed,” which in turn makes her out as an “ultracrepidarian,” which is to say “one who is presumptuous and offers advice or opinions beyond one’s sphere of knowledge,” and a “fopdoodle,” to boot, which means “TOODLES” is seen as insignificant, and here, since we just had a raft of economic news with which we can fact-check “TOODLES.” let’s go back to “TOODLES” on January 25, 2024, where we had this from “TOODLES” on BIDE-O-NOMICS, as follows:
Overall, the Biden Administration has put in place the most extensive set of policies and investments to benefit the middle class and grow the economy that our country has seen in my lifetime.
Our economic plan is improving lives and laying the foundation for a new future for middle-class families and communities across the country.
The President and I understand that many Americans have long felt a deeper pessimism about the economy, going back far before the pandemic.
Due to the longer-term trends that I described, life is still harder than it should be for the middle class in this country.
To change this, our modern supply-side strategy is designed to build off of our historic recovery and continue charting a new course.
The reinvigoration of manufacturing means new jobs for middle-class Americans, especially in places where potential exists, but opportunity has failed.
end quotes
So, people, how about her statement that the reinvigoration of manufacturing means new jobs for middle-class Americans, especially in places where potential exists, but opportunity has failed?
Have Joe Biden and “TOODLES” Yellen actually managed to do that – reinvigorate manufacturing in America?
If so, then why just the other day did Reuters have an article titled “US manufacturing contracts further” by Lucia Mutikani on March 1, 2024, where we learned as follo9ws, to wit:
WASHINGTON, March 1 (Reuters) – U.S. manufacturing slumped further in February, with a measure of factory employment falling to a seven-month low amid layoffs, but there were signs activity was on the cusp of rebounding.
end quote
If it is slumping, it counters the claim by “TOODLES” that she and Joe Biden have reinvigorated it, but let’s not make a hasty judgment here, so back for more we go:
The ISM said its manufacturing PMI fell to 47.8 last month from 49.1 in January.
It was the 16th straight month the PMI remained below 50, which indicates contraction in manufacturing.
That is the longest such stretch since the period from August 2000 to January 2002.
end quotes
How “TOODLES” gets “reinvigorated” out of that is a mystery to me, where the common meaning of the word “reinvigorate” is to give new energy or strength to something, which isn’t happening to manufacturing, which takes us back to Reuters for more, to wit:
So-called hard data from the government and Federal Reserve show manufacturing mostly treading water.
The ISM survey’s forward-looking new orders sub-index dropped to 49.2 last month after rebounding to 52.5 in January.
Production at factories was subdued, with the sub-index declining to 48.4 from 50.4 in January.
Customer inventories were considered too low for a third straight month, with shortages of some goods reported.
While that augurs well for future orders and production, there was a slight hint of supply chain constraints.
The survey’s measure of supplier deliveries rose to 50.1 from 49.1 in the prior month.
A reading above 50 indicates slower deliveries.
“For the second month, supplier responsiveness appears to be ‘stiffer,’ meaning some suppliers are struggling to keep up,” said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee.
Factory employment continued to shrink, with layoffs accounting for half of efforts by companies to reduce headcount.
Manufacturers also reported hiring freezes.
end quotes
So much for Joe and “TOODLES” reinvigorating manufacturing in America, then, which takes us to a Reuters article titled “US mortgage rates rise for a fourth-straight week, Freddie Mac says” by Amina Niasse on February 29, 2024, where we see what Joe Biden and his BIDE-O-NOMICS are doing to the middle class in America, to wit:
NEW YORK, Feb 29 (Reuters) – U.S. mortgage rates rose for a fourth-straight week, Freddie Mac reported on Thursday, reaching a two-month high and again becoming a factor impeding traffic among rate-sensitive prospective home buyers.
“The recent boomerang in rates has dampened already tentative homebuyer momentum as we approach the spring, a historically busy season for homebuying.”
“While sales of newly built homes are trending in a positive direction, higher rates and elevated prices continue to pose affordability challenges that may leave potential homebuyers on the sidelines,” said Sam Khater, Freddie Mac’s chief economist.
High mortgage rates eroded buyer traffic last year as tight inventory and home price gains limited affordability.
Home sales remain under pressure, with pending home sales retreating by 4.9% in January, according to National Association of Realtors data.
end quotes
The higher rates are caused by BIDENFLATION as a result of BIDE-O-NOMICS, which takes us to another Reuters article titled “US pending home sales fall in January as high mortgage rates deter buyers” by Amina Niasse on February 29, 2024, for more of what BIDE-O-NOMICS is doing to the middle-class in America, to wit:
NEW YORK, Feb 29 (Reuters) – Pending U.S. home sales retreated in January, a report on Thursday showed, as buyers continue to struggle with still-high mortgage rates.
The National Association of Realtors Pending Home Sales index fell 4.9% to 74.3.
The increase in pending sales in December was revised sharply lower to 5.7% from 8.3%, even as the index value for that month was revised higher, reflecting NAR revisions for 2023.
end quotes
And from there, we go to a CNBC article titled “Key Fed inflation measure rose 0.4% in January as expected, up 2.8% from a year ago” by Jeff Cox on February 29, 2024 for more on BIDE-O-NOMICS, to wit:
Inflation rose in line with expectations in January, according to an important gauge the Federal Reserve uses as it deliberates cutting interest rates.
The personal consumption expenditures price index excluding food and energy costs increased 0.4% for the month and 2.8% from a year ago, as expected according to the Dow Jones consensus estimates.
Headline PCE, including the volatile food and energy categories, increased 0.3% monthly and 2.4% on a 12-month basis, also as forecast, according to the numbers released Thursday by the Commerce Department’s Bureau of Economic Analysis.
Services prices increased 0.6% on the month while goods fell 0.2%; on a 12-month basis, services rose 3.9% and goods were down 0.5%.
Within those categories, food prices accelerated 0.5%, offset by a 1.4% slide in energy.
On a year-over-year basis, food was up 1.4% while energy fell 4.9%.
end quotes
And from there we go back to a Reuters article titled "Services drive US prices higher in January; inflation gradually cooling" by Lucia Mutikani on February 29, 2024, for this look at the Biden economy, to wit:
WASHINGTON, Feb 29 (Reuters) – U.S. prices accelerated in January amid a surge in the costs of services like housing and finance, but the annual increase in inflation was the smallest in three years, keeping a mid-year interest rate cut from the Federal Reserve on the table.
The report from the Commerce Department on Thursday also showed consumer spending slowing last month, restrained by decreases in outlays on goods, including motor vehicles, furniture and other long-lasting household equipment.
Services, which also include healthcare, restaurants, hotels and motels as well as recreation, are at the heart of the U.S. central bank's fight against inflation.
Excluding the volatile food and energy components, the PCE price index increased 0.4% last month.
Services prices jumped 0.6%, the most since last January, after climbing 0.3% in December.
They were boosted by a 0.6% rise in the cost of housing and utilities.
The cost of financial services and insurance surged 1.3%, likely reflecting higher share prices.
Prices for services at restaurants, bars, hotels and motels rose, as did those for recreation and healthcare.
end quotes
Healthcare, of course, under BIDE-O-MOMICS, was supposed to be coming down, not going up like it is, which takes us back to Reuters again, to wit:
PCE services inflation excluding energy and housing shot up 0.6% last month, the most since March 2022, after rising 0.3% in December.
The so-called super core inflation increased 3.5% on a year-on-year basis in January after rising 3.3% in December.
The super core inflation has risen at a 4.1% annualized rate in the past three months.
Policymakers are watching the super core measure to assess progress in their battle against inflation.
With inflation picking up, price-sensitive consumers slowed their spending last month.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.2% after increasing 0.7% in December.
When adjusted for inflation, spending fell 0.1% after rising 0.6% in December.
A Conference Board survey on Tuesday showed consumers less upbeat about the jobs market in February.
Income was boosted by a 3.2% cost-of-living adjustment for Social Security recipients and a special dividend paid by Costco Wholesale Corp.
But a sharp increase in taxes combined with inflation left income at the disposal of households unchanged after a 0.3% rise in December.
end quotes
So there we have some actual data to consider, people.
Does it really mean anything, however, when we have "TOODLES" Yellen telling us how good we all are doing thanks to BIDE-O-NOMICS in America?
Stay tuned.
http://www.capecharlesmirror.com/paul-p ... ent-904692
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 4, 2024 AT 12:58 PM
Paul Plante says:
And while we are on the subject of Joe Biden, and his secretary of the treasury Janet “TOODLES” Yellen, who told us on January 25, 2024 that Joe Biden’s economic plan is improving lives and laying the foundation for a new future for middle-class families and communities across the country, and that life is still harder than it should be for the middle class in this country, so that to change that, their modern supply-side strategy is designed to build off of our historic recovery and continue charting a new course, one focused on boosting our economic capacity in order to deliver robust and shared economic growth, with their aim being to make middle-class lives better for the short haul and for the long haul, because this country and the world have changed and we cannot go back, and the obstacles the middle class has faced for decades will not disappear overnight, but she and Joe and Gina Raimondo and Jennifer Granholm and Peter Paul Montgomery Buttigieg are fighting the right fight for economic policy that makes a meaningful difference in people’s lives, which is what motivated “TOODLES” to become an economist and has been the central mission throughout her career as she and Joe are putting in place the building blocks for continued growth, and if they keep at it, America will continue its progress in overcoming the challenges facing the middle class, which class has always driven the success of our country, and will continue to lead our future, imposing a Soviet-Union style centrally planned economy, also known as a command economy, on the United States of America, which is an economic system where a government body, in this case, Joe’s commerce department, makes economic decisions regarding the production and distribution of goods, for proof of that statement, let us go to an asiafinancial article titled “US Starts Funding Awards to Ramp up Chip Production at Home” on December 12, 2023, where we are informed as follows on that subject of Joe’s Soviet-era “command economy,” which is the economic system of Cuba, North Korea, Belarus, China, Iran, and Russia, as follows:
US Commerce Secretary Gina Raimondo has begun announcing major funding awards that aim to fire up US production of computer chips.
Raimondo said she expects to make around a dozen funding awards within the next year, including multi-billion-dollar announcements that could drastically reshape US manufacturing of semiconductors.
Meanwhile, California chip giant Nvidia was being encouraged to sell semiconductors to China – but not their top-of-the-range AI products.
Raimondo announced the first award on Monday – $35 million to a BAE Systems facility in Hampshire to produce chips for fighter planes from the “Chips for America” semiconductor manufacturing and research subsidy programme approved by Congress in August 2022.
“Next year we’ll get into some of the bigger ones with leading-edge fabs,” Raimondo told reporters.
“A year from now I think we will have made 10 or 12 similar announcements, some of them multi-billion dollar announcements.”
US wants 20% of chips made at home
In an interview, Raimondo said that the number of awards could go higher than 12.
She said she wants the percentage of semiconductors produced in the United States to rise from about 12% to closer to 20% – though that is still down from 40% in 1990 – and to have at least two “leading-edge” US manufacturing clusters.
In addition, she wants the US to have cutting-edge memory and packaging production and to “meet the military’s needs for current and mature” chips.
Raimondo noted that the US currently does not have any cutting-edge manufacturing production and wants to get that to about 10%.
Raimondo said the programme has received more than 550 statements of interest and nearly 150 pre-applications, full applications, and concept plans.
And given the extensive interest, there would be many disappointed companies.
“We have national security goals and we need to make our investments to hit those goals and we’re going to do that,” she added.
Raimondo said US officials were talking with Nvidia Corp about permissible sales of artificial intelligence chips to China but emphasized that it cannot sell its most advanced semiconductors to Chinese firms.
The Commerce secretary said Nvidia “can, will and should sell AI chips to China because most AI chips will be for commercial applications.”
She added: “What we cannot allow them to ship is the most sophisticated, highest processing power AI chips, which would enable China to train their frontier models.”
end quotes
The lure of a centrally-planned economy for Joe Biden and his administration, of course, as we can glean from the speech of “TOODLES” Yellen on the subject on January 25, 2024, is that some of the advantages of the system are the equal distribution of wealth, reduced inequality, low level of unemployment, and maximized social welfare, which in America is known as BIDE-O-NISM.
As we young Americans learned back in the 1950s in social studies, centrally planned economies such as Joe Biden has imposed on America are different from market economies, where these decisions are the result of thousands of choices by producers and consumers.
In a centrally-planned economy such as is BIDE-O-NOMICS, the production of goods and services is often done by state-owned enterprises, although as we are seeing here from Gina Raimondo, independent companies may also be incorporated into economic planning, but prices, wages, and production schedules are to be set by a centralized bureaucracy located in Washington, D.C.
According to Investopedia under “Theory of Central Planning,” advocates of central planning like Joe Biden, “TOODLES” Yellen and Gina Raimondo believe that the government can direct economic investment more efficiently than private actors, especially towards social goals with lower potential for profits and since the planning authority, in this case the Biden administration, has more resources, think TRILLIONS of taxpayer dollars, than any single company or business, government projects can also benefit from economies of scale that supposedly make government projects more productive in the long run.
But in order to coordinate among different producers and resources, central planning typically requires a highly educated technical bureaucracy, which creates something of a paradox for socialist countries like America under Joe Biden and BIDE-O-NISM, since the bureaucrats may take the role of a de facto ruling class, as we are seeing here in the case of Gina Raimondo, and Janet “TOODLES” Yellen.
And with that before us for our consideration, let’s cut to a commercial break with twenty hours of high-quality infomercials informing us all of the good life that beckons us if only we will give Joe Biden four more years to get BIDE-O-NISM firmly in place here in America to make it a socialist worker’s paradise, and then we will be right back with more, so stay tuned and don’t touch that dial!
http://www.capecharlesmirror.com/paul-p ... ent-904834
Paul Plante says:
And while we are on the subject of Joe Biden, and his secretary of the treasury Janet “TOODLES” Yellen, who told us on January 25, 2024 that Joe Biden’s economic plan is improving lives and laying the foundation for a new future for middle-class families and communities across the country, and that life is still harder than it should be for the middle class in this country, so that to change that, their modern supply-side strategy is designed to build off of our historic recovery and continue charting a new course, one focused on boosting our economic capacity in order to deliver robust and shared economic growth, with their aim being to make middle-class lives better for the short haul and for the long haul, because this country and the world have changed and we cannot go back, and the obstacles the middle class has faced for decades will not disappear overnight, but she and Joe and Gina Raimondo and Jennifer Granholm and Peter Paul Montgomery Buttigieg are fighting the right fight for economic policy that makes a meaningful difference in people’s lives, which is what motivated “TOODLES” to become an economist and has been the central mission throughout her career as she and Joe are putting in place the building blocks for continued growth, and if they keep at it, America will continue its progress in overcoming the challenges facing the middle class, which class has always driven the success of our country, and will continue to lead our future, imposing a Soviet-Union style centrally planned economy, also known as a command economy, on the United States of America, which is an economic system where a government body, in this case, Joe’s commerce department, makes economic decisions regarding the production and distribution of goods, for proof of that statement, let us go to an asiafinancial article titled “US Starts Funding Awards to Ramp up Chip Production at Home” on December 12, 2023, where we are informed as follows on that subject of Joe’s Soviet-era “command economy,” which is the economic system of Cuba, North Korea, Belarus, China, Iran, and Russia, as follows:
US Commerce Secretary Gina Raimondo has begun announcing major funding awards that aim to fire up US production of computer chips.
Raimondo said she expects to make around a dozen funding awards within the next year, including multi-billion-dollar announcements that could drastically reshape US manufacturing of semiconductors.
Meanwhile, California chip giant Nvidia was being encouraged to sell semiconductors to China – but not their top-of-the-range AI products.
Raimondo announced the first award on Monday – $35 million to a BAE Systems facility in Hampshire to produce chips for fighter planes from the “Chips for America” semiconductor manufacturing and research subsidy programme approved by Congress in August 2022.
“Next year we’ll get into some of the bigger ones with leading-edge fabs,” Raimondo told reporters.
“A year from now I think we will have made 10 or 12 similar announcements, some of them multi-billion dollar announcements.”
US wants 20% of chips made at home
In an interview, Raimondo said that the number of awards could go higher than 12.
She said she wants the percentage of semiconductors produced in the United States to rise from about 12% to closer to 20% – though that is still down from 40% in 1990 – and to have at least two “leading-edge” US manufacturing clusters.
In addition, she wants the US to have cutting-edge memory and packaging production and to “meet the military’s needs for current and mature” chips.
Raimondo noted that the US currently does not have any cutting-edge manufacturing production and wants to get that to about 10%.
Raimondo said the programme has received more than 550 statements of interest and nearly 150 pre-applications, full applications, and concept plans.
And given the extensive interest, there would be many disappointed companies.
“We have national security goals and we need to make our investments to hit those goals and we’re going to do that,” she added.
Raimondo said US officials were talking with Nvidia Corp about permissible sales of artificial intelligence chips to China but emphasized that it cannot sell its most advanced semiconductors to Chinese firms.
The Commerce secretary said Nvidia “can, will and should sell AI chips to China because most AI chips will be for commercial applications.”
She added: “What we cannot allow them to ship is the most sophisticated, highest processing power AI chips, which would enable China to train their frontier models.”
end quotes
The lure of a centrally-planned economy for Joe Biden and his administration, of course, as we can glean from the speech of “TOODLES” Yellen on the subject on January 25, 2024, is that some of the advantages of the system are the equal distribution of wealth, reduced inequality, low level of unemployment, and maximized social welfare, which in America is known as BIDE-O-NISM.
As we young Americans learned back in the 1950s in social studies, centrally planned economies such as Joe Biden has imposed on America are different from market economies, where these decisions are the result of thousands of choices by producers and consumers.
In a centrally-planned economy such as is BIDE-O-NOMICS, the production of goods and services is often done by state-owned enterprises, although as we are seeing here from Gina Raimondo, independent companies may also be incorporated into economic planning, but prices, wages, and production schedules are to be set by a centralized bureaucracy located in Washington, D.C.
According to Investopedia under “Theory of Central Planning,” advocates of central planning like Joe Biden, “TOODLES” Yellen and Gina Raimondo believe that the government can direct economic investment more efficiently than private actors, especially towards social goals with lower potential for profits and since the planning authority, in this case the Biden administration, has more resources, think TRILLIONS of taxpayer dollars, than any single company or business, government projects can also benefit from economies of scale that supposedly make government projects more productive in the long run.
But in order to coordinate among different producers and resources, central planning typically requires a highly educated technical bureaucracy, which creates something of a paradox for socialist countries like America under Joe Biden and BIDE-O-NISM, since the bureaucrats may take the role of a de facto ruling class, as we are seeing here in the case of Gina Raimondo, and Janet “TOODLES” Yellen.
And with that before us for our consideration, let’s cut to a commercial break with twenty hours of high-quality infomercials informing us all of the good life that beckons us if only we will give Joe Biden four more years to get BIDE-O-NISM firmly in place here in America to make it a socialist worker’s paradise, and then we will be right back with more, so stay tuned and don’t touch that dial!
http://www.capecharlesmirror.com/paul-p ... ent-904834
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 7, 2024 AT 9:17 PM
Paul Plante says:
In all truth, I have to say that the very last thing I thought I would be talking about here in America in my later years would be an American president imposing on America the economic system of Cuba, North Korea, Belarus, Iran, and Russia, but such is the case today under DEMOCRAT Joseph Robinette Biden, Junior, and when you consider that those other governments all have “strongman” rulers as Joe wishes to be here in America, an autocratic dictator subject to no one and nothing but himself, it is easy then to see the appeal for Joe of what is known as a command economy which puts all power over our lives in the hands of Joe Biden, negating the role the worthless congress is supposed to play in what was supposed to be a democratic society of, by, and for the American people where RULE OF LAW, not will of Joe Biden, was supposed to prevail.
As an example of Joe Biden taking over control of the American economy, let’s go back to a Fox News article titled “Biden’s bizarre plan to nationalize American innovation – Innovation rule would give Biden power to dictate prices on any product derived from government research” by Andrei Iancu, an undersecretary of commerce for intellectual property and director of the U.S. Patent and Trademark Office from 2018 to 2021, and co-founder and co-chairman of the Council for Innovation Promotion, on March 1, 2024, where we see another aspect of BIDE-O-NISM, which in simple terms, is defined as a one party system of government with the Joe Biden in charge of everything, and in which each class, including the semi-fascists, the MAGAtards, the BASKET OF DEPLORABLES, and the DREGS OF SOCIETY have their distinct place, function, and representation in the government, with some being very much more equal than those below them in the social hierarchy that separates Biden Democrats from everybody else in America, while the individual, that being us, is subordinated to the state, which is to say, Joe Biden, and control is maintained by military forces, secret police, rigid censorship, and governmental regimentation of industry and finance, in action, to wit:
The Biden administration has unveiled a radical proposal to reshape the underpinnings of America’s innovation economy.
end quote
And yes, people, “radical” is Joe Biden’s other middle name, which takes us back to this story of the implementation of BIDE-O-NISM in America, to wit:
Through the lure of federal research dollars and a sweeping reinterpretation of a 44-year-old bipartisan law, the forces of the ideological left within the administration seek to impose price controls throughout the American economy, effectively holding private industry hostage to its demands.
end quote
Which happens to be governmental regimentation of industry and finance, in action, which takes us back to Fox for more, to wit:
At the center of this power grab is a provision of the Bayh-Dole Act of 1980, pioneering legislation widely credited with launching the modern American innovation economy.
Bayh-Dole ingeniously aligned the private-sector profit motive with the public good by allowing universities and small businesses to own and license patents emerging from federally funded research.
The act’s design trusted decentralized markets — not central planners — to transform patented discoveries into beneficial products.
end quotes
And it is exactly those decentralized markets that the autocratic dictator Joseph Robinette Biden, Junior, wants to replace with central planners, the main one of whom is Joe, himself, which again takes us back to Fox for more, to wit:
This incentive-based structure catalyzed America’s scientific leadership and directly sparked bold innovations in fields as disparate as computing and agriculture to medicine and transportation.
The provision of Bayh-Dole that progressive activists have long sought to wield as a cudgel against private industry is known as “march-in” authority, which allows the government to take over a patented product if one of four narrow triggers is met.
Legislators included it as a stopgap to deter anyone from acting on the hypothetical impulse of acquiring a patent in order to prevent it from being developed into a product.
This hypothetical has never materialized, so the government has never once marched in.
This is not surprising.
Companies will commercialize patented products or license other companies to do so if there is money to be made.
This fundamental principle of capitalism is somehow lost on the Biden administration, which now wants to seize patents if the price of a product is “unreasonable,” whatever that means.
end quotes
That fundamental principle of capitalism, however, is not so much lost on the Biden regime as it is disbelieved by the Biden administration which takes us back to a Foreign Policy magazine article titled “Janet Yellen and Mario Draghi Have One Last Job – The U.S. treasury secretary and the Italian prime minister have spent decades shaping this economy. But can they control what comes next?” by Adam Tooze, a columnist at Foreign Policy and director of the European Institute at Columbia University, on April 1, 2021, where we have Joe’s treasury secretary, Janet “TOODLES” Yellen, an architect and true believer in BIDE-O-NISM, quoted as follows:
As Yellen once remarked: “Will capitalist economies operate at full employment in the absence of routine intervention?”
“Certainly not.”
And so, BIDE-O-NISM provides the federal government with that “right” of routine intervention in the affairs of corporate America, which again takes us back to Fox for these further details, to wit:
But Bayh-Dole has no trigger that is even remotely related to a product’s price.
Nor has any administration, Democrat or Republican, since the statute passed 44 years ago ever interpreted it to include a bureaucrat’s judgment that a product costs too much.
Until now.
In a bizarre and lawless document that seems to reflect the far-left’s capture of the Biden administration, the White House unveiled in December a proposal to use the threat of march-in to dictate prices on any product derived from federally funded research.
The door would be open for bureaucrats to seize patents and ruin entire businesses if they disagree with the market price of anything, from microchips and surgical devices to implantable biomaterial and agricultural technologies.
By proposing something so radical, the Biden White House has gone public with a road map allowing de facto nationalization of all discoveries arising from federally funded research institutions, many of which emerge from the nation’s leading universities.
The administration envisions scrutinizing licensing agreements through a political lens, micromanaging the economy under the guise of assessing the “fairness” of prices.
No field escapes unscathed.
In one scenario within the guidance, administrators suggest that insufficient market availability of vehicle safety communication devices warrants seizing patents and taking over the business.
The guidance has no limiting principle and would apply even if the government invested a dollar while private industry invested millions on an invention.
In defending the draft guidance, Biden’s Federal Trade Commission egregiously mischaracterizes the Bayh-Dole Act as a “statute designed to safeguard public health needs against patent holders’ private interests.”
This distortion wrongly implies that private interests are inherently contrary to public ones.
Government takeover of private industry, in the name of protecting public need, is un-American and strains far from our founding principles: the Federalist Papers recognized that for both patents and copyrights, “The public good fully coincides in both cases with the claims of individuals.”
Americans have always known that private incentive aligns with public good.
The administration would upend this fundamental principle.
The true scope of the administration’s gambit goes beyond even economics.
Property rights become a pawn the progressive left is happy to sacrifice to advance its sweeping agenda.
One group writing in support of the proposal urges that in assessing a march-in petition, bureaucrats analyze a company’s commitment to collective bargaining and diversity quotas.
Make no mistake: Weakening or eliminating patent rights to advance political agendas will chill private sector risk-taking, technological progress and access to cutting-edge inventions.
The only good that can come of this outrageous proposal is to reveal the wild-eyed ambition within the ranks of the administration.
The next question is whether President Joe Biden himself embraces this vision.
Entrepreneurs, investors and university researchers want to know.
If not, he must wholly disavow this destructive proposal before it does more harm.
http://www.capecharlesmirror.com/paul-p ... ent-905631
Paul Plante says:
In all truth, I have to say that the very last thing I thought I would be talking about here in America in my later years would be an American president imposing on America the economic system of Cuba, North Korea, Belarus, Iran, and Russia, but such is the case today under DEMOCRAT Joseph Robinette Biden, Junior, and when you consider that those other governments all have “strongman” rulers as Joe wishes to be here in America, an autocratic dictator subject to no one and nothing but himself, it is easy then to see the appeal for Joe of what is known as a command economy which puts all power over our lives in the hands of Joe Biden, negating the role the worthless congress is supposed to play in what was supposed to be a democratic society of, by, and for the American people where RULE OF LAW, not will of Joe Biden, was supposed to prevail.
As an example of Joe Biden taking over control of the American economy, let’s go back to a Fox News article titled “Biden’s bizarre plan to nationalize American innovation – Innovation rule would give Biden power to dictate prices on any product derived from government research” by Andrei Iancu, an undersecretary of commerce for intellectual property and director of the U.S. Patent and Trademark Office from 2018 to 2021, and co-founder and co-chairman of the Council for Innovation Promotion, on March 1, 2024, where we see another aspect of BIDE-O-NISM, which in simple terms, is defined as a one party system of government with the Joe Biden in charge of everything, and in which each class, including the semi-fascists, the MAGAtards, the BASKET OF DEPLORABLES, and the DREGS OF SOCIETY have their distinct place, function, and representation in the government, with some being very much more equal than those below them in the social hierarchy that separates Biden Democrats from everybody else in America, while the individual, that being us, is subordinated to the state, which is to say, Joe Biden, and control is maintained by military forces, secret police, rigid censorship, and governmental regimentation of industry and finance, in action, to wit:
The Biden administration has unveiled a radical proposal to reshape the underpinnings of America’s innovation economy.
end quote
And yes, people, “radical” is Joe Biden’s other middle name, which takes us back to this story of the implementation of BIDE-O-NISM in America, to wit:
Through the lure of federal research dollars and a sweeping reinterpretation of a 44-year-old bipartisan law, the forces of the ideological left within the administration seek to impose price controls throughout the American economy, effectively holding private industry hostage to its demands.
end quote
Which happens to be governmental regimentation of industry and finance, in action, which takes us back to Fox for more, to wit:
At the center of this power grab is a provision of the Bayh-Dole Act of 1980, pioneering legislation widely credited with launching the modern American innovation economy.
Bayh-Dole ingeniously aligned the private-sector profit motive with the public good by allowing universities and small businesses to own and license patents emerging from federally funded research.
The act’s design trusted decentralized markets — not central planners — to transform patented discoveries into beneficial products.
end quotes
And it is exactly those decentralized markets that the autocratic dictator Joseph Robinette Biden, Junior, wants to replace with central planners, the main one of whom is Joe, himself, which again takes us back to Fox for more, to wit:
This incentive-based structure catalyzed America’s scientific leadership and directly sparked bold innovations in fields as disparate as computing and agriculture to medicine and transportation.
The provision of Bayh-Dole that progressive activists have long sought to wield as a cudgel against private industry is known as “march-in” authority, which allows the government to take over a patented product if one of four narrow triggers is met.
Legislators included it as a stopgap to deter anyone from acting on the hypothetical impulse of acquiring a patent in order to prevent it from being developed into a product.
This hypothetical has never materialized, so the government has never once marched in.
This is not surprising.
Companies will commercialize patented products or license other companies to do so if there is money to be made.
This fundamental principle of capitalism is somehow lost on the Biden administration, which now wants to seize patents if the price of a product is “unreasonable,” whatever that means.
end quotes
That fundamental principle of capitalism, however, is not so much lost on the Biden regime as it is disbelieved by the Biden administration which takes us back to a Foreign Policy magazine article titled “Janet Yellen and Mario Draghi Have One Last Job – The U.S. treasury secretary and the Italian prime minister have spent decades shaping this economy. But can they control what comes next?” by Adam Tooze, a columnist at Foreign Policy and director of the European Institute at Columbia University, on April 1, 2021, where we have Joe’s treasury secretary, Janet “TOODLES” Yellen, an architect and true believer in BIDE-O-NISM, quoted as follows:
As Yellen once remarked: “Will capitalist economies operate at full employment in the absence of routine intervention?”
“Certainly not.”
And so, BIDE-O-NISM provides the federal government with that “right” of routine intervention in the affairs of corporate America, which again takes us back to Fox for these further details, to wit:
But Bayh-Dole has no trigger that is even remotely related to a product’s price.
Nor has any administration, Democrat or Republican, since the statute passed 44 years ago ever interpreted it to include a bureaucrat’s judgment that a product costs too much.
Until now.
In a bizarre and lawless document that seems to reflect the far-left’s capture of the Biden administration, the White House unveiled in December a proposal to use the threat of march-in to dictate prices on any product derived from federally funded research.
The door would be open for bureaucrats to seize patents and ruin entire businesses if they disagree with the market price of anything, from microchips and surgical devices to implantable biomaterial and agricultural technologies.
By proposing something so radical, the Biden White House has gone public with a road map allowing de facto nationalization of all discoveries arising from federally funded research institutions, many of which emerge from the nation’s leading universities.
The administration envisions scrutinizing licensing agreements through a political lens, micromanaging the economy under the guise of assessing the “fairness” of prices.
No field escapes unscathed.
In one scenario within the guidance, administrators suggest that insufficient market availability of vehicle safety communication devices warrants seizing patents and taking over the business.
The guidance has no limiting principle and would apply even if the government invested a dollar while private industry invested millions on an invention.
In defending the draft guidance, Biden’s Federal Trade Commission egregiously mischaracterizes the Bayh-Dole Act as a “statute designed to safeguard public health needs against patent holders’ private interests.”
This distortion wrongly implies that private interests are inherently contrary to public ones.
Government takeover of private industry, in the name of protecting public need, is un-American and strains far from our founding principles: the Federalist Papers recognized that for both patents and copyrights, “The public good fully coincides in both cases with the claims of individuals.”
Americans have always known that private incentive aligns with public good.
The administration would upend this fundamental principle.
The true scope of the administration’s gambit goes beyond even economics.
Property rights become a pawn the progressive left is happy to sacrifice to advance its sweeping agenda.
One group writing in support of the proposal urges that in assessing a march-in petition, bureaucrats analyze a company’s commitment to collective bargaining and diversity quotas.
Make no mistake: Weakening or eliminating patent rights to advance political agendas will chill private sector risk-taking, technological progress and access to cutting-edge inventions.
The only good that can come of this outrageous proposal is to reveal the wild-eyed ambition within the ranks of the administration.
The next question is whether President Joe Biden himself embraces this vision.
Entrepreneurs, investors and university researchers want to know.
If not, he must wholly disavow this destructive proposal before it does more harm.
http://www.capecharlesmirror.com/paul-p ... ent-905631
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 9, 2024 AT 6:39 PM
Paul Plante says:
And while we are on the subject of BIDEN BOBAUNCE (boastful behavior, boasting; a boast) by Joe Biden going into the SILLY SEASON leading up to the November 2024 presidential elections, along with being barraged by PURE POLITICAL BULL**** you have to be an idiot or moron to believe, and OUTRIGHT OUTRAGEOUS LIES from TEAM BIDEN and Joe, himself, let’s drop back in time to February 2, 2024, and the “Statement from President Joe Biden on the January Jobs Report” where we have this excellent example of PURE BIDEN BOBAUNCE right in the first sentence, to wit:
America’s economy is the strongest in the world.
end quotes
Which statement is pure horse****.
We are a beggar nation on the world stage that can’t defend its own borders so deeply mired in ever-increasing debt that we need to depend on money coming in from China as they pick up our debt at interest in order to keep the doors of our worthless government open.
But let’s get back to Joe on February 2, 2024, because we have a GREAT BIG LIE based on a FRAUD ON THE PUBLIC coming from Joe in the very next sentence, to wit:
Today, we saw more proof, with another month of strong wage gains and employment gains of over 350,000 in January, continuing the strong growth from last year.
end quote
And that, people, simply is not true, which to say, it is a falsehood!
Think I’m kidding?
Not a joke, people, as we clearly see from a CNBC article titled “U.S. job growth totaled 275,000 in February but unemployment rate rose to 3.9%” by Jeff Cox on March 8, 2024, where we have Joe’s BIG WHOPPER exposed for all the world to see, to wit:
Job creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn’t nearly as hot as initially reported.
February was a step higher in growth from January, which saw a steep downward revision to 229,000, from the initially reported 353,000.
Job growth in December also was revised down to 290,000 from 333,000, bringing the two-month total to 167,000 fewer jobs than initially reported.
end quotes
A STEEP DOWNWARD REVISION, people, means that on February 2, 2024, Joe was using a GROSSLY EXAGGERATED FIGURE in that self-serving press release, which is a FRAUD on the public by Joe Biden, who we will NOT HEAR apologizing to us in March for outright lying to us in February about the January jobs figure, which takes us back to Joe’s February 2, 2024 press release for more BIDEN BULL**** as follows:
Our economy has created 14.8 million jobs since I took office, unemployment has been under 4% for two full years now, and inflation has been at the pre-pandemic level of 2% over the last half year.
end quotes
And Joe’s statement that the economy has created 14.8 million jobs since Joe took office is obvious BULL**** based on INFLATED JOB NUMBERS as we can see from these revisions alone, which revisions always come after the fact, when nobody is looking.
And that statement by Joe that inflation has been at the pre-pandemic level of 2% over the last half year, is similarly misleading, and in fact, is a contrived number intended to be misleading, as we see in a Reuters article titled “Fed’s Powell still expects rate cuts, but inflation progress ‘not assured'” by Howard Schneider on March 6, 2024, to wit:
Reports bolstering the “soft-landing” narrative, such as encouraging figures on services prices on Tuesday or signs of slowing consumer spending, have been counterbalanced by others showing inflation stuck in significant ways, such as from still-rising shelter costs, or evidence of unexpected economic strength, such as January’s outsized gain of more than 350,000 jobs.
end quote
Going back to Joe running his mouth on February 2, 2024, telling us how great he is, and how we are lucky to have him in the white house instead of somebody truthful and competent, we have more as follows:
It’s great news for working families that wages, wealth, and jobs are higher now than before the pandemic, and I won’t stop fighting to lower costs and build an economy from the middle out and bottom up.
I’ll continue to stand in the way of efforts by Congressional Republicans to enact massive tax giveaways for the wealthy and big corporations; cut Medicare, Medicaid, and Social Security; and raise costs for American families.
end quotes
Joe Biden is going to stand in the way of efforts by Congressional Republicans to enact massive tax giveaways for the wealthy and big corporations?
BULL****, when it is Joe himself who is handing out tax giveaways right and left to big corporations like TSMC in Taiwan, as we see in a Reuters story titled “TSMC to win more than $5 billion in grants for a US chip plant, Bloomberg reports” on March 8, 2024, as follows:
March 8 (Reuters) – Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker, is set to win more than $5 billion in federal grants from the U.S. government for setting up a chipmaking plant in Arizona, Bloomberg News reported on Friday.
TSMC and the U.S. Commerce Department did not immediately respond to Reuters requests for comment.
end quotes
And with that said, let’s cut to station identification and a commercial break for twelve full uninterrupted hours of high-class infomercials from TEAM BIDEN touting all that Joe Biden and BIDE-O-NOMICS have done for the American people to make their lives better than any other American president has ever made them, and then, we will be right back.
http://www.capecharlesmirror.com/paul-p ... ent-906084
Paul Plante says:
And while we are on the subject of BIDEN BOBAUNCE (boastful behavior, boasting; a boast) by Joe Biden going into the SILLY SEASON leading up to the November 2024 presidential elections, along with being barraged by PURE POLITICAL BULL**** you have to be an idiot or moron to believe, and OUTRIGHT OUTRAGEOUS LIES from TEAM BIDEN and Joe, himself, let’s drop back in time to February 2, 2024, and the “Statement from President Joe Biden on the January Jobs Report” where we have this excellent example of PURE BIDEN BOBAUNCE right in the first sentence, to wit:
America’s economy is the strongest in the world.
end quotes
Which statement is pure horse****.
We are a beggar nation on the world stage that can’t defend its own borders so deeply mired in ever-increasing debt that we need to depend on money coming in from China as they pick up our debt at interest in order to keep the doors of our worthless government open.
But let’s get back to Joe on February 2, 2024, because we have a GREAT BIG LIE based on a FRAUD ON THE PUBLIC coming from Joe in the very next sentence, to wit:
Today, we saw more proof, with another month of strong wage gains and employment gains of over 350,000 in January, continuing the strong growth from last year.
end quote
And that, people, simply is not true, which to say, it is a falsehood!
Think I’m kidding?
Not a joke, people, as we clearly see from a CNBC article titled “U.S. job growth totaled 275,000 in February but unemployment rate rose to 3.9%” by Jeff Cox on March 8, 2024, where we have Joe’s BIG WHOPPER exposed for all the world to see, to wit:
Job creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn’t nearly as hot as initially reported.
February was a step higher in growth from January, which saw a steep downward revision to 229,000, from the initially reported 353,000.
Job growth in December also was revised down to 290,000 from 333,000, bringing the two-month total to 167,000 fewer jobs than initially reported.
end quotes
A STEEP DOWNWARD REVISION, people, means that on February 2, 2024, Joe was using a GROSSLY EXAGGERATED FIGURE in that self-serving press release, which is a FRAUD on the public by Joe Biden, who we will NOT HEAR apologizing to us in March for outright lying to us in February about the January jobs figure, which takes us back to Joe’s February 2, 2024 press release for more BIDEN BULL**** as follows:
Our economy has created 14.8 million jobs since I took office, unemployment has been under 4% for two full years now, and inflation has been at the pre-pandemic level of 2% over the last half year.
end quotes
And Joe’s statement that the economy has created 14.8 million jobs since Joe took office is obvious BULL**** based on INFLATED JOB NUMBERS as we can see from these revisions alone, which revisions always come after the fact, when nobody is looking.
And that statement by Joe that inflation has been at the pre-pandemic level of 2% over the last half year, is similarly misleading, and in fact, is a contrived number intended to be misleading, as we see in a Reuters article titled “Fed’s Powell still expects rate cuts, but inflation progress ‘not assured'” by Howard Schneider on March 6, 2024, to wit:
Reports bolstering the “soft-landing” narrative, such as encouraging figures on services prices on Tuesday or signs of slowing consumer spending, have been counterbalanced by others showing inflation stuck in significant ways, such as from still-rising shelter costs, or evidence of unexpected economic strength, such as January’s outsized gain of more than 350,000 jobs.
end quote
Going back to Joe running his mouth on February 2, 2024, telling us how great he is, and how we are lucky to have him in the white house instead of somebody truthful and competent, we have more as follows:
It’s great news for working families that wages, wealth, and jobs are higher now than before the pandemic, and I won’t stop fighting to lower costs and build an economy from the middle out and bottom up.
I’ll continue to stand in the way of efforts by Congressional Republicans to enact massive tax giveaways for the wealthy and big corporations; cut Medicare, Medicaid, and Social Security; and raise costs for American families.
end quotes
Joe Biden is going to stand in the way of efforts by Congressional Republicans to enact massive tax giveaways for the wealthy and big corporations?
BULL****, when it is Joe himself who is handing out tax giveaways right and left to big corporations like TSMC in Taiwan, as we see in a Reuters story titled “TSMC to win more than $5 billion in grants for a US chip plant, Bloomberg reports” on March 8, 2024, as follows:
March 8 (Reuters) – Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker, is set to win more than $5 billion in federal grants from the U.S. government for setting up a chipmaking plant in Arizona, Bloomberg News reported on Friday.
TSMC and the U.S. Commerce Department did not immediately respond to Reuters requests for comment.
end quotes
And with that said, let’s cut to station identification and a commercial break for twelve full uninterrupted hours of high-class infomercials from TEAM BIDEN touting all that Joe Biden and BIDE-O-NOMICS have done for the American people to make their lives better than any other American president has ever made them, and then, we will be right back.
http://www.capecharlesmirror.com/paul-p ... ent-906084
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 11, 2024 AT 8:38 PM
Paul Plante says:
And we are right back with a story from Fox News titled “Top red state official demands answers on Biden executive order ‘attempting to register’ illegals to vote” by Andrew Miller on March 11, 2024, where we see how just how Joe Biden is using his executive orders in his WHOLE OF GOVERNMENT approach to getting more criminals and illegals to be able to vote DEMOCRAT in the upcoming November presidential election to throw the contest Joe’s way in a rigged election rigged by Joe himself, to wit:
Mississippi’s Secretary of State has sent a letter to President Biden’s Department of Justice asking it to stop enforcing a Biden executive order that he warns is being used to attempt to register ineligible convicts and illegal immigrants to vote.
end quote
Actually, those ineligible convicts and illegal immigrants are Joe’s political base, so of course he is going to do anything and everything he can to secure for them the right to vote for Joe come November, which takes us back to Fox, to wit:
“As you are aware, on March 7, 2021, President Biden issued Executive Order No. 14019 which sought to turn the Department of Justice agencies from their historical missions of law enforcement to voter registration and get out the vote operations,” Mississippi Secretary of State Michael Watson wrote in a letter to Attorney General Merrick Garland this week.
“These efforts are an intrusion into state matters and are a misuse of federal revenue and resources.”
end quotes
And of course Joe is intruding into state matters, misusing federal revenue and resources to do so, because Joe doesn’t believe in state matters, and federal revenue and resources are Joe’s to misuse, because nobody can stop him from doing so, which again takes us back to Fox, to wit:
“In addition, it appears that these efforts have led to agencies under your charge attempting to register people to vote, including potentially ineligible felons and to co-opt state and local officials into accomplishing this goal.”
The executive order in question was signed by Biden in 2021 and was billed as an attempt to combat racial discrimination and “protect the right to vote” and instructed government agencies “consider ways to expand citizens’ opportunities to register to vote and to obtain information about, and participate in, the electoral process.”
In his letter, Watson outlines concerns that the executive order “forces the U.S. Marshals Service” to “modify agreements with jails” that require them “to provide voter registration materials and facilitate voting by mail.”
“According to the Marshals Service, they are modifying 936 contracts or intergovernmental agreements to require state and local government complicity in the potential registration of ineligible prisoners to vote,” the letter states.
“It further requires the Department of Justice to facilitate voter registration and mail voting for individuals in the custody of the Bureau of Prisons.”
“This program creates numerous opportunities for ineligible prisoners to be registered to vote in Mississippi.”
end quotes
And my goodness, people, of course it does, because Joe wants every vote he can get, and that is how he is getting them, which again takes us back for more, to wit:
Watson told Fox News Digital that he is not confident the Biden administration is paying close attention to the voting status of the individuals involved.
“Forgive me for not necessarily trusting the Biden administration but in Mississippi we’ve got rules and regulations dealing with who can vote when it comes to felons, there are disenfranchising crimes in our state and I don’t specifically think that the Biden administration cares crossing those T’s and dotting those I’s when it comes to making sure these folks can or can’t vote, they’re going to register them, including illegal aliens in custody so we’ve got major issues and that’s what led to writing this letter to Attorney General Garland,” Watson told Fox News Digital.
end quotes
Dude, you need no forgiveness since you are among the majority, not the minority, who don’t trust the untrustworthy Biden administration to do anything right, or follow the laws as written, which takes us back to the story, to wit:
Watson’s letter explains that the program “provides prisoners with misleading information concerning their right to both register and vote in Mississippi – a right which they may not have.”
“For example, many of the people in the custody of the Marshals are convicted felons whom Mississippi law deems ineligible to vote.”
“Additionally, many of those in custody only have fleeting ties to Mississippi and do not meet the residency requirements necessary to be a Mississippi voter,” the letter says.
Watson wrote that Mississippi jails are being prompted to “work with other reliable sources of voter information to assist federal prisoners with voter registration, voting by mail, and notification of upcoming elections.”
“We are unaware of any contact with our Office, which begs the question, which organizations are the Marshals using to accomplish this demand?” The letter asks.
“Many outside groups performing voter registration and vote harvesting services are partisan entities with a history of being unreliable.”
“There have been documented instances of these groups providing incorrect directions to voters.”
“It is not proper for the Federal government to push partisan groups into the voting process in Mississippi or any other state.”
The letter specifically addresses concerns that illegal immigrants in the Mississippi prison system could potentially be registered to vote through this executive order if the program is not closely monitored.
“Our understanding is that everyone in the Marshals’ custody is given a form advising them of their right to register and vote,” the letter says.
“Providing ineligible non-citizens with information on how to register to vote undoubtedly encourages them to illegally register to vote, exposing them to legal jeopardy beyond their immigration status.”
Watson’s letter says that it is “quite shocking” that the Biden administration would “expend tax dollars and vital law enforcement resources” on a program “that risks bloating state voter rolls with ineligible and non-citizen voters” during a time when millions of illegal immigrants have crossed the southern border.
Watson told Fox News Digital that this is an “urgent” matter with a presidential election just 8 months away.
“If you look at what’s going on at the border when you’ve got so many illegal aliens pouring into our country, imagine the efforts used to get them to register to vote and that’s what this is all about,” Watson told Fox News Digital.
“It’s about control, it’s about continuing their power, and unfortunately that puts our country in a terrible position, so it’s immediate and it’s something where we hope they will respect our request to stop the program.”
“The information we want to see is which prisons they’re working in in Mississippi, we’ve asked them to prove to us the documentation, what exactly are you doing in our prisons?”
“We want to make sure we understand which prisoners you’ve been talking to, so we can understand whether or not they’re eligible to vote and I think it’s incumbent upon all of the states to take this notice up and to push back as hard as we can because with this election coming up in November it is incredibly important to the future of our country.”
“What we have left of it.”
Honest Elections Project Executive Director Jason Snead told Fox News Digital he applauds Watson’s letter warning about a program that “puts election integrity and voter confidence at risk” for “political gain.”
“The Biden Administration is aggressively pursuing a partisan get-out-the-vote scheme using taxpayer dollars,” Snead said.
“Nothing is off the table, from using law enforcement resources to potentially register ineligible voters and even non-citizens, to the recent announcement that the administration will use taxpayer dollars to pay students to coordinate with left-wing organizations and mobilize youth voters.”
Fox News Digital reached out to the White House and Department of Justice for comment but did not receive a response.
http://www.capecharlesmirror.com/paul-p ... ent-906737
Paul Plante says:
And we are right back with a story from Fox News titled “Top red state official demands answers on Biden executive order ‘attempting to register’ illegals to vote” by Andrew Miller on March 11, 2024, where we see how just how Joe Biden is using his executive orders in his WHOLE OF GOVERNMENT approach to getting more criminals and illegals to be able to vote DEMOCRAT in the upcoming November presidential election to throw the contest Joe’s way in a rigged election rigged by Joe himself, to wit:
Mississippi’s Secretary of State has sent a letter to President Biden’s Department of Justice asking it to stop enforcing a Biden executive order that he warns is being used to attempt to register ineligible convicts and illegal immigrants to vote.
end quote
Actually, those ineligible convicts and illegal immigrants are Joe’s political base, so of course he is going to do anything and everything he can to secure for them the right to vote for Joe come November, which takes us back to Fox, to wit:
“As you are aware, on March 7, 2021, President Biden issued Executive Order No. 14019 which sought to turn the Department of Justice agencies from their historical missions of law enforcement to voter registration and get out the vote operations,” Mississippi Secretary of State Michael Watson wrote in a letter to Attorney General Merrick Garland this week.
“These efforts are an intrusion into state matters and are a misuse of federal revenue and resources.”
end quotes
And of course Joe is intruding into state matters, misusing federal revenue and resources to do so, because Joe doesn’t believe in state matters, and federal revenue and resources are Joe’s to misuse, because nobody can stop him from doing so, which again takes us back to Fox, to wit:
“In addition, it appears that these efforts have led to agencies under your charge attempting to register people to vote, including potentially ineligible felons and to co-opt state and local officials into accomplishing this goal.”
The executive order in question was signed by Biden in 2021 and was billed as an attempt to combat racial discrimination and “protect the right to vote” and instructed government agencies “consider ways to expand citizens’ opportunities to register to vote and to obtain information about, and participate in, the electoral process.”
In his letter, Watson outlines concerns that the executive order “forces the U.S. Marshals Service” to “modify agreements with jails” that require them “to provide voter registration materials and facilitate voting by mail.”
“According to the Marshals Service, they are modifying 936 contracts or intergovernmental agreements to require state and local government complicity in the potential registration of ineligible prisoners to vote,” the letter states.
“It further requires the Department of Justice to facilitate voter registration and mail voting for individuals in the custody of the Bureau of Prisons.”
“This program creates numerous opportunities for ineligible prisoners to be registered to vote in Mississippi.”
end quotes
And my goodness, people, of course it does, because Joe wants every vote he can get, and that is how he is getting them, which again takes us back for more, to wit:
Watson told Fox News Digital that he is not confident the Biden administration is paying close attention to the voting status of the individuals involved.
“Forgive me for not necessarily trusting the Biden administration but in Mississippi we’ve got rules and regulations dealing with who can vote when it comes to felons, there are disenfranchising crimes in our state and I don’t specifically think that the Biden administration cares crossing those T’s and dotting those I’s when it comes to making sure these folks can or can’t vote, they’re going to register them, including illegal aliens in custody so we’ve got major issues and that’s what led to writing this letter to Attorney General Garland,” Watson told Fox News Digital.
end quotes
Dude, you need no forgiveness since you are among the majority, not the minority, who don’t trust the untrustworthy Biden administration to do anything right, or follow the laws as written, which takes us back to the story, to wit:
Watson’s letter explains that the program “provides prisoners with misleading information concerning their right to both register and vote in Mississippi – a right which they may not have.”
“For example, many of the people in the custody of the Marshals are convicted felons whom Mississippi law deems ineligible to vote.”
“Additionally, many of those in custody only have fleeting ties to Mississippi and do not meet the residency requirements necessary to be a Mississippi voter,” the letter says.
Watson wrote that Mississippi jails are being prompted to “work with other reliable sources of voter information to assist federal prisoners with voter registration, voting by mail, and notification of upcoming elections.”
“We are unaware of any contact with our Office, which begs the question, which organizations are the Marshals using to accomplish this demand?” The letter asks.
“Many outside groups performing voter registration and vote harvesting services are partisan entities with a history of being unreliable.”
“There have been documented instances of these groups providing incorrect directions to voters.”
“It is not proper for the Federal government to push partisan groups into the voting process in Mississippi or any other state.”
The letter specifically addresses concerns that illegal immigrants in the Mississippi prison system could potentially be registered to vote through this executive order if the program is not closely monitored.
“Our understanding is that everyone in the Marshals’ custody is given a form advising them of their right to register and vote,” the letter says.
“Providing ineligible non-citizens with information on how to register to vote undoubtedly encourages them to illegally register to vote, exposing them to legal jeopardy beyond their immigration status.”
Watson’s letter says that it is “quite shocking” that the Biden administration would “expend tax dollars and vital law enforcement resources” on a program “that risks bloating state voter rolls with ineligible and non-citizen voters” during a time when millions of illegal immigrants have crossed the southern border.
Watson told Fox News Digital that this is an “urgent” matter with a presidential election just 8 months away.
“If you look at what’s going on at the border when you’ve got so many illegal aliens pouring into our country, imagine the efforts used to get them to register to vote and that’s what this is all about,” Watson told Fox News Digital.
“It’s about control, it’s about continuing their power, and unfortunately that puts our country in a terrible position, so it’s immediate and it’s something where we hope they will respect our request to stop the program.”
“The information we want to see is which prisons they’re working in in Mississippi, we’ve asked them to prove to us the documentation, what exactly are you doing in our prisons?”
“We want to make sure we understand which prisoners you’ve been talking to, so we can understand whether or not they’re eligible to vote and I think it’s incumbent upon all of the states to take this notice up and to push back as hard as we can because with this election coming up in November it is incredibly important to the future of our country.”
“What we have left of it.”
Honest Elections Project Executive Director Jason Snead told Fox News Digital he applauds Watson’s letter warning about a program that “puts election integrity and voter confidence at risk” for “political gain.”
“The Biden Administration is aggressively pursuing a partisan get-out-the-vote scheme using taxpayer dollars,” Snead said.
“Nothing is off the table, from using law enforcement resources to potentially register ineligible voters and even non-citizens, to the recent announcement that the administration will use taxpayer dollars to pay students to coordinate with left-wing organizations and mobilize youth voters.”
Fox News Digital reached out to the White House and Department of Justice for comment but did not receive a response.
http://www.capecharlesmirror.com/paul-p ... ent-906737
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 12, 2024 AT 6:31 PM
Paul Plante says:
As I have stated elsewhere, I wasted several hours over the weekend going through, word for word for word, the transcript of what was called Joe Biden’s supposed state of the union address, which transcript in reality was nothing more than the script for a cheap, ignorant, poorly-written melodramatic production like a religious revivalist meeting, with singers in the background singing out an angry Joe Biden’s praises as Joe spouted out his vitriol and indignation, which production in reality was pure cornpone political tripe and theater that cast Joe not in the role of an American president but more like a carnival barker trying to whip up enthusiasm for Little Egypt’s last show of the evening, or a patent medicine grifter peddling snake oil to the unwitting and unwary, with his shills in the crowd, just as Joe had his shills there during his performance the other night, with Joe’s shills in the audience, according to the AP version of the transcript, yelling BOOO on cue at various moments in the speech, or “four more years,” reminiscent of a Trump political rally, which analysis takes us to another analysis in the Newsweek article titled “Biden Did Himself No Favors With Angry, Partisan State of the Union | Opinion” by Paul du Quenoy, President of the Palm Beach Freedom Institute, on March 12, 2024, where we had as follows on Joe’s so-called state of the union address, to wit:
State of the Union addresses have long been dull, pro forma affairs.
Loud cheers resound, offering the pretense of unity over division.
Policy disagreements are buried under unifying values.
The leader soberly rattles off platitudes about achievements and aspirations, often illusory.
The union’s “state” is always “strong,” and the nation’s “best days” invariably “lie ahead.”
No longer.
President Joe Biden’s third and very possibly last State of the Union address descended from this act of staid but dignified statesmanship to what Democrats think they need to shore up his increasingly doubtful reelection bid.
In his 67-minute address, reportedly the result of months of intense preparation, Biden was bitter and angry, delivering many of his lines in the loud and cranky tone of a frustrated family patriarch who commands no respect, marshals no enthusiasm, and fears his legacy will spill down a drain of derision.
It was not “presidential” by any stretch.
It was hysterical and vulgar, desperate and cheap.
end quotes
And consider that all along, Newsweek has been very PRO-JOE BIDEN, so this story is indeed interesting to see come forth, which takes us back for more, to wit:
Long gone was the “unifier” of those few halcyon days in early 2021, when the newly inaugurated Biden peered out from the armed camp that Washington, D.C., had become to promise he would pursue a moderate course to settle divisions and curb the vitriolic partisanship of former president Donald J. Trump’s term.
end quotes
In actuality, however, Joe Biden has NEVER been a “unifier,” nor has he ever tried to be, which takes us back to September 17, 2018 and a story in The Daily Wire titled “Joe Biden Calls Trump Supporters ‘Virulent People,’ The ‘Dregs Of Society'” by Joseph Curl, where we had the DIVIDER Joe Biden in action, doing what he does best, which is dividing people, not unifying them, to wit:
Joe Biden just had his “deplorables” moment.
Biden, who says he’ll decided in January whether to run for president in 2020 but who is making all the moves of a presidential candidate, used a pro-LGBT Human Rights Campaign annual dinner on Saturday to rip President Trump.
And in so doing, Biden had a moment reminiscent of Hillary Clinton, when she called Trump supporters “deplorables.”
Biden did his old act, starting off soft and avuncular before booming through his power points, punching the air and flailing about.
“Despite losing in the courts, and in the court of opinion, these forces of intolerance remain determined to undermine and roll back the progress you all have made,” he said.
“This time they — not you — have an ally in the White House.”
“This time they have an ally.”
“They’re a small percentage of the American people — virulent people, some of them the dregs of society.”
end quotes
Yes, people, if you are not for Joe Biden, then you are a DREG OF SOCIETY, which takes us back to Newsweek for more, to wit:
Now Biden is a hyperpartisan, blaming the Republicans — who control neither the presidency nor the Senate nor the Washington bureaucracy — for all of his many problems, from Ukraine to border control to tax policy.
He broke firm and laudable precedent to take a swipe at the Supreme Court, the Justices of which attended the speech but by tradition registered no reaction to it, for overturning Roe v. Wade, even though the result has been a pro-choice surge in state abortion referendums and the election of Democrats in several important races.
Biden claimed Republicans would cut entitlements to fund a tax cut for the rich despite the Republican House majority’s failure to act on entitlements at any time during his presidency.
He countered with his own plan to introduce yet more punitive taxation on “wealthy” Americans.
We heard surprisingly little about Biden’s supposed “achievements,” which his loyalists — and those who benefit from his increasingly obvious cognitive decline — tout with nauseating regularity despite all evidence to the contrary and in the face of massive popular disappointment.
Instead, the president lashed out, once again broad brushing half the country as authoritarian fascist enemies of democracy on par with the Nazis, the Confederacy, and Russian president Vladimir Putin.
Biden has largely avoided mentioning Trump throughout his presidency — perhaps a wise move.
Trump currently outclasses him in opinion polls on virtually every issue, as well as in general competence, physical and mental ability, and, according to almost all recent surveys, the popular vote in the all-but-certain rematch that awaits us in November.
But as Biden gets cagier and undoubtedly more worried about his dubious reelection prospects, he simply cannot ignore Trump.
Although Biden never said his name (unlike Laken — or, as Biden mispronounced it, “Lincoln” — Riley, a nursing student murdered by an illegal immigrant on Biden’s watch) in the speech, he referred to his “predecessor,” “the former Republican president,” 13 times.
There can be no doubt that as November approaches, the race will become increasingly brutal, personal, and negative — characteristics that, Democratic strategists may wish to note, heavily favored Trump in 2016.
Comparing himself to Franklin D. Roosevelt, a trope to which his flatterers never tire of resorting, struck another point about Biden.
With a coterie of Washington politicos and a congressional Democratic Party either convinced of, or willing to play along with, the illusion of the incumbent’s soundness and importance, there is now less chance than ever that he will be replaced as the Democratic candidate, as some have speculated.
Given his grumpy demeanor, that is probably good news for the Trump camp.
Either way, Thursday’s State of the Union did nothing to convince the 82 percent of Americans who believe Biden is simply too old for the presidency to change their minds.
end quotes
And yes, color me on of them!
Old Joe is way past his “sell by” date!
Time for Joe to go!
http://www.capecharlesmirror.com/paul-p ... ent-907020
Paul Plante says:
As I have stated elsewhere, I wasted several hours over the weekend going through, word for word for word, the transcript of what was called Joe Biden’s supposed state of the union address, which transcript in reality was nothing more than the script for a cheap, ignorant, poorly-written melodramatic production like a religious revivalist meeting, with singers in the background singing out an angry Joe Biden’s praises as Joe spouted out his vitriol and indignation, which production in reality was pure cornpone political tripe and theater that cast Joe not in the role of an American president but more like a carnival barker trying to whip up enthusiasm for Little Egypt’s last show of the evening, or a patent medicine grifter peddling snake oil to the unwitting and unwary, with his shills in the crowd, just as Joe had his shills there during his performance the other night, with Joe’s shills in the audience, according to the AP version of the transcript, yelling BOOO on cue at various moments in the speech, or “four more years,” reminiscent of a Trump political rally, which analysis takes us to another analysis in the Newsweek article titled “Biden Did Himself No Favors With Angry, Partisan State of the Union | Opinion” by Paul du Quenoy, President of the Palm Beach Freedom Institute, on March 12, 2024, where we had as follows on Joe’s so-called state of the union address, to wit:
State of the Union addresses have long been dull, pro forma affairs.
Loud cheers resound, offering the pretense of unity over division.
Policy disagreements are buried under unifying values.
The leader soberly rattles off platitudes about achievements and aspirations, often illusory.
The union’s “state” is always “strong,” and the nation’s “best days” invariably “lie ahead.”
No longer.
President Joe Biden’s third and very possibly last State of the Union address descended from this act of staid but dignified statesmanship to what Democrats think they need to shore up his increasingly doubtful reelection bid.
In his 67-minute address, reportedly the result of months of intense preparation, Biden was bitter and angry, delivering many of his lines in the loud and cranky tone of a frustrated family patriarch who commands no respect, marshals no enthusiasm, and fears his legacy will spill down a drain of derision.
It was not “presidential” by any stretch.
It was hysterical and vulgar, desperate and cheap.
end quotes
And consider that all along, Newsweek has been very PRO-JOE BIDEN, so this story is indeed interesting to see come forth, which takes us back for more, to wit:
Long gone was the “unifier” of those few halcyon days in early 2021, when the newly inaugurated Biden peered out from the armed camp that Washington, D.C., had become to promise he would pursue a moderate course to settle divisions and curb the vitriolic partisanship of former president Donald J. Trump’s term.
end quotes
In actuality, however, Joe Biden has NEVER been a “unifier,” nor has he ever tried to be, which takes us back to September 17, 2018 and a story in The Daily Wire titled “Joe Biden Calls Trump Supporters ‘Virulent People,’ The ‘Dregs Of Society'” by Joseph Curl, where we had the DIVIDER Joe Biden in action, doing what he does best, which is dividing people, not unifying them, to wit:
Joe Biden just had his “deplorables” moment.
Biden, who says he’ll decided in January whether to run for president in 2020 but who is making all the moves of a presidential candidate, used a pro-LGBT Human Rights Campaign annual dinner on Saturday to rip President Trump.
And in so doing, Biden had a moment reminiscent of Hillary Clinton, when she called Trump supporters “deplorables.”
Biden did his old act, starting off soft and avuncular before booming through his power points, punching the air and flailing about.
“Despite losing in the courts, and in the court of opinion, these forces of intolerance remain determined to undermine and roll back the progress you all have made,” he said.
“This time they — not you — have an ally in the White House.”
“This time they have an ally.”
“They’re a small percentage of the American people — virulent people, some of them the dregs of society.”
end quotes
Yes, people, if you are not for Joe Biden, then you are a DREG OF SOCIETY, which takes us back to Newsweek for more, to wit:
Now Biden is a hyperpartisan, blaming the Republicans — who control neither the presidency nor the Senate nor the Washington bureaucracy — for all of his many problems, from Ukraine to border control to tax policy.
He broke firm and laudable precedent to take a swipe at the Supreme Court, the Justices of which attended the speech but by tradition registered no reaction to it, for overturning Roe v. Wade, even though the result has been a pro-choice surge in state abortion referendums and the election of Democrats in several important races.
Biden claimed Republicans would cut entitlements to fund a tax cut for the rich despite the Republican House majority’s failure to act on entitlements at any time during his presidency.
He countered with his own plan to introduce yet more punitive taxation on “wealthy” Americans.
We heard surprisingly little about Biden’s supposed “achievements,” which his loyalists — and those who benefit from his increasingly obvious cognitive decline — tout with nauseating regularity despite all evidence to the contrary and in the face of massive popular disappointment.
Instead, the president lashed out, once again broad brushing half the country as authoritarian fascist enemies of democracy on par with the Nazis, the Confederacy, and Russian president Vladimir Putin.
Biden has largely avoided mentioning Trump throughout his presidency — perhaps a wise move.
Trump currently outclasses him in opinion polls on virtually every issue, as well as in general competence, physical and mental ability, and, according to almost all recent surveys, the popular vote in the all-but-certain rematch that awaits us in November.
But as Biden gets cagier and undoubtedly more worried about his dubious reelection prospects, he simply cannot ignore Trump.
Although Biden never said his name (unlike Laken — or, as Biden mispronounced it, “Lincoln” — Riley, a nursing student murdered by an illegal immigrant on Biden’s watch) in the speech, he referred to his “predecessor,” “the former Republican president,” 13 times.
There can be no doubt that as November approaches, the race will become increasingly brutal, personal, and negative — characteristics that, Democratic strategists may wish to note, heavily favored Trump in 2016.
Comparing himself to Franklin D. Roosevelt, a trope to which his flatterers never tire of resorting, struck another point about Biden.
With a coterie of Washington politicos and a congressional Democratic Party either convinced of, or willing to play along with, the illusion of the incumbent’s soundness and importance, there is now less chance than ever that he will be replaced as the Democratic candidate, as some have speculated.
Given his grumpy demeanor, that is probably good news for the Trump camp.
Either way, Thursday’s State of the Union did nothing to convince the 82 percent of Americans who believe Biden is simply too old for the presidency to change their minds.
end quotes
And yes, color me on of them!
Old Joe is way past his “sell by” date!
Time for Joe to go!
http://www.capecharlesmirror.com/paul-p ... ent-907020
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 13, 2024 AT 6:11 PM
Paul Plante says:
And yesterday brought us two interesting pieces of news, one being a March 12, 2024 Statement from President Joe Biden on the February Consumer Price Index where Joe, a notorious serial liar and purveyor of myths and tall tales says his top economic priority is lowering costs, with the second being a Reuters article titled “US February budget deficit climbs on interest costs, tax refunds” on March 12, 2024, where we are informed by Joe’s own treasury department under BIDE-O-NOMICS architect Janet “TOODLES” Yellen of the harm BIDE-O-NOMICS and BIDE-O-NISM are doing to our nation, and our national security, as well as to the lives of common American citizens, while a third is a Reuters article titled “Gasoline, shelter costs boost US prices; inflation still slowing” by Lucia Mutikani on March 12, 2024, where we learned as follows about where Joe Biden’s BIDE-O-NOMICS has taken us as a nation and as a people, with this being the report Joe Biden is commenting on above as favoring BIDE-O-NOMICS, to wit:
WASHINGTON, March 12 (Reuters) – U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that further diminishes the chances of a Federal Reserve interest rate cut before June.
end quote
What Joe then said in his Statement from President Joe Biden on the February Consumer Price Index, was as follows:
My top economic priority is lowering costs and today’s report shows we continue to make progress on that front.
Inflation is down two-thirds from its peak and annual core inflation is the lowest since May 2021.
end quotes
Except inflation is hardly down and in fact is continuing to rise, bringing prices up with it, which takes us back to Reuters on inflation, to wit:
The consumer price index rose 0.4% last month after climbing 0.3% in January, the Labor Department’s Bureau of Labor Statistics (BLS) said.
Gasoline prices rebounded 3.8% after declining 3.3% in January.
Shelter, which includes rents, rose 0.4% after advancing 0.6% in the prior month.
But prices for cereals and bakery products rose while meat, fish and eggs were slightly more expensive.
In the 12 months through February, the CPI increased 3.2%, after advancing 3.1% in January.
The annual increase in consumer prices has slowed from a peak of 9.1% in June 2022, but progress has stalled in recent months.
President Joe Biden used the report to drum up support for a $7.3 trillion budget unveiled on Monday.
“We have more to do to lower costs and give the middle class a fair shot,” Biden said in a statement.
“The budget I put forward yesterday would take on Big Pharma to lower prescription drug costs.”
Excluding the volatile food and energy components, the CPI increased 0.4% in February after rising by the same margin in January.
Shelter was also the main driver of the so-called core CPI.
Rents increased 0.5% after gaining 0.4% in January.
The cost of healthcare was unchanged after rising 0.5% in the prior month.
Airline fares accelerated 3.6% while motor vehicle insurance cost 0.9% more.
Services excluding energy increased 0.5% after shooting up 0.7% in January.
The rise in the so-called super core services excluding shelter slowed to 0.5% from 0.8% in the prior month.
Goods prices rebounded by 0.4% after falling 0.3% in January.
They were boosted by increases in the prices of apparel.
Used cars and trucks prices jumped 0.5%.
Core goods prices rose 0.1%, the first increase since last May, after falling 0.3% in January.
A separate report from the Atlanta Fed showed its sticky-price CPI, a weighted basket of items that change price relatively slowly, increased 4.0% on an annualized basis in February after rising 6.7% in January.
end quotes
Which takes us to March 12, 2024 and the Statement from President Joe Biden on the February Consumer Price Index, where we have this empty political blather from Joe, as follows:
Congressional Republicans have no plan to lower costs — their only plan is more tax giveaways for big corporations and the wealthy while cutting Social Security, Medicare, and Medicaid.
I won’t let them.
end quotes
Which takes us to the Reuters article titled “US February budget deficit climbs on interest costs, tax refunds” on March 12, 2024, where the reality of what continuing harm BIDE-O-NOMICS is doing to America thanks to Joe Biden’s OUT-OF-CONTROL PROFLIGATE SPENDING OF BORROWED MONEY, including Joe’s tax give-aways for big corporations, is made incandescently clear, to wit:
March 12 (Reuters) – The U.S. federal budget deficit grew in February with outlays surging as annual tax-filing season kicked into gear and interest costs on the national debt kept rising, the U.S. Treasury Department said on Tuesday.
The deficit last month was $296 billion, 13% larger than the $262 billion shortfall in February 2023.
Outlays for the month grew 8% to $567 billion – a record for the month – while receipts rose 3% to $271 billion.
For the first five months of the fiscal year, the deficit rose by $106 billion, or 15%, to $828 billion as interest costs on the national debt rose.
The Treasury said both receipts and outlays were records on a year-to-date basis, with receipts up 7% to $1.856 trillion, and outlays up 9% to $2.684 trillion.
Individual tax refunds, which are deducted from receipts, were $58 billion, up 11% from 12 months earlier.
Interest expenses on the $26 trillion national debt continue to grow rapidly, with debt-servicing costs up 67% from February 2023 to $76 billion, a record for the month.
On a year-to-date basis, interest on the public debt rose 41% to $433 billion and for the first five months of the fiscal year was exceeded only by Social Security in individual line item expenses.
The weighted-average interest rate on Treasury securities rose to 3.2% in February from 2.52% a year ago and 3.15% in January.
end quotes
And the rise in the weighted-average interest rate on Treasury securities which is taking debt servicing costs ever higher is directly related to the adverse impacts of BORROW-AND-SPEND BIDE-O-NOMICS.
Which brings us to time for a break for station identification, but don’t go away and don’t touch that dial, because we shall we right back with more of the story of how one man named Jospeh Robinette Biden, Junior is doing the seemingly impossible by single-handedly destroying America in just one presidential term.
http://www.capecharlesmirror.com/paul-p ... ent-907382
Paul Plante says:
And yesterday brought us two interesting pieces of news, one being a March 12, 2024 Statement from President Joe Biden on the February Consumer Price Index where Joe, a notorious serial liar and purveyor of myths and tall tales says his top economic priority is lowering costs, with the second being a Reuters article titled “US February budget deficit climbs on interest costs, tax refunds” on March 12, 2024, where we are informed by Joe’s own treasury department under BIDE-O-NOMICS architect Janet “TOODLES” Yellen of the harm BIDE-O-NOMICS and BIDE-O-NISM are doing to our nation, and our national security, as well as to the lives of common American citizens, while a third is a Reuters article titled “Gasoline, shelter costs boost US prices; inflation still slowing” by Lucia Mutikani on March 12, 2024, where we learned as follows about where Joe Biden’s BIDE-O-NOMICS has taken us as a nation and as a people, with this being the report Joe Biden is commenting on above as favoring BIDE-O-NOMICS, to wit:
WASHINGTON, March 12 (Reuters) – U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that further diminishes the chances of a Federal Reserve interest rate cut before June.
end quote
What Joe then said in his Statement from President Joe Biden on the February Consumer Price Index, was as follows:
My top economic priority is lowering costs and today’s report shows we continue to make progress on that front.
Inflation is down two-thirds from its peak and annual core inflation is the lowest since May 2021.
end quotes
Except inflation is hardly down and in fact is continuing to rise, bringing prices up with it, which takes us back to Reuters on inflation, to wit:
The consumer price index rose 0.4% last month after climbing 0.3% in January, the Labor Department’s Bureau of Labor Statistics (BLS) said.
Gasoline prices rebounded 3.8% after declining 3.3% in January.
Shelter, which includes rents, rose 0.4% after advancing 0.6% in the prior month.
But prices for cereals and bakery products rose while meat, fish and eggs were slightly more expensive.
In the 12 months through February, the CPI increased 3.2%, after advancing 3.1% in January.
The annual increase in consumer prices has slowed from a peak of 9.1% in June 2022, but progress has stalled in recent months.
President Joe Biden used the report to drum up support for a $7.3 trillion budget unveiled on Monday.
“We have more to do to lower costs and give the middle class a fair shot,” Biden said in a statement.
“The budget I put forward yesterday would take on Big Pharma to lower prescription drug costs.”
Excluding the volatile food and energy components, the CPI increased 0.4% in February after rising by the same margin in January.
Shelter was also the main driver of the so-called core CPI.
Rents increased 0.5% after gaining 0.4% in January.
The cost of healthcare was unchanged after rising 0.5% in the prior month.
Airline fares accelerated 3.6% while motor vehicle insurance cost 0.9% more.
Services excluding energy increased 0.5% after shooting up 0.7% in January.
The rise in the so-called super core services excluding shelter slowed to 0.5% from 0.8% in the prior month.
Goods prices rebounded by 0.4% after falling 0.3% in January.
They were boosted by increases in the prices of apparel.
Used cars and trucks prices jumped 0.5%.
Core goods prices rose 0.1%, the first increase since last May, after falling 0.3% in January.
A separate report from the Atlanta Fed showed its sticky-price CPI, a weighted basket of items that change price relatively slowly, increased 4.0% on an annualized basis in February after rising 6.7% in January.
end quotes
Which takes us to March 12, 2024 and the Statement from President Joe Biden on the February Consumer Price Index, where we have this empty political blather from Joe, as follows:
Congressional Republicans have no plan to lower costs — their only plan is more tax giveaways for big corporations and the wealthy while cutting Social Security, Medicare, and Medicaid.
I won’t let them.
end quotes
Which takes us to the Reuters article titled “US February budget deficit climbs on interest costs, tax refunds” on March 12, 2024, where the reality of what continuing harm BIDE-O-NOMICS is doing to America thanks to Joe Biden’s OUT-OF-CONTROL PROFLIGATE SPENDING OF BORROWED MONEY, including Joe’s tax give-aways for big corporations, is made incandescently clear, to wit:
March 12 (Reuters) – The U.S. federal budget deficit grew in February with outlays surging as annual tax-filing season kicked into gear and interest costs on the national debt kept rising, the U.S. Treasury Department said on Tuesday.
The deficit last month was $296 billion, 13% larger than the $262 billion shortfall in February 2023.
Outlays for the month grew 8% to $567 billion – a record for the month – while receipts rose 3% to $271 billion.
For the first five months of the fiscal year, the deficit rose by $106 billion, or 15%, to $828 billion as interest costs on the national debt rose.
The Treasury said both receipts and outlays were records on a year-to-date basis, with receipts up 7% to $1.856 trillion, and outlays up 9% to $2.684 trillion.
Individual tax refunds, which are deducted from receipts, were $58 billion, up 11% from 12 months earlier.
Interest expenses on the $26 trillion national debt continue to grow rapidly, with debt-servicing costs up 67% from February 2023 to $76 billion, a record for the month.
On a year-to-date basis, interest on the public debt rose 41% to $433 billion and for the first five months of the fiscal year was exceeded only by Social Security in individual line item expenses.
The weighted-average interest rate on Treasury securities rose to 3.2% in February from 2.52% a year ago and 3.15% in January.
end quotes
And the rise in the weighted-average interest rate on Treasury securities which is taking debt servicing costs ever higher is directly related to the adverse impacts of BORROW-AND-SPEND BIDE-O-NOMICS.
Which brings us to time for a break for station identification, but don’t go away and don’t touch that dial, because we shall we right back with more of the story of how one man named Jospeh Robinette Biden, Junior is doing the seemingly impossible by single-handedly destroying America in just one presidential term.
http://www.capecharlesmirror.com/paul-p ... ent-907382
Re: WHERE I HAVE BEEN, AND WHY
THE CAPE CHARLES MIRROR MARCH 15, 2024 AT 9:49 AM
Paul Plante says:
And yes, people, disjointed, and indeed, demented, as in the demented Biden administration policies are not well connected or well ordered, and therefore are often confusing as we see in a Reuters article titled “Yellen says US moving to ensure domestic EV maker success despite China’s exports” by David Lawder on March 13, 2024, where we have this drivel from Biden treasury secretary Janet “TOODLES” Yellen to consider, to wit:
ELIZABETHTOWN, Kentucky, March 13 (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said President Joe Biden’s administration is taking steps to ensure the success of its domestic electric vehicle (EV) industry in the face of China’s growing exports in the sector and heavy government subsidies.
Asked whether the United States needs new tariffs on Chinese EVs, Yellen told reporters at a new battery materials plant in Kentucky: “I don’t want to get ahead of where we are, but it is a commitment that President Biden has made … that we’re going to want our domestic industry to be successful.”
end quotes
And with those statements from “TOODLES,” here we are, back to BIDE-O-NISM, Joe’s COMMAND ECONOMY, out of which comes BIDE-O-NOMICS, and its related BIDENFLATION, and by way of review, a “Command economy” or “Communist economy,” also known as a “Central Planned Economy” is an economy where decisions on what to produce, how to produce and for whom are taken by the government in a centrally managed bureaucracy.
For those of us with memories that extend farther back in time than just a few minutes ago, we recall that the Soviet Union often announced ‘5-year plans’ where targets for steel production would be created, and as we learned in 7th grade social studies, in the period 1928-40 and after the Second World War, these Five-year plans were very successful in terms of expanding the Soviet Union’s industrial production, so that for a period, the Soviet Union achieved very rapid rates of economic growth.
However, by the 1960s, the system was struggling with corruption, inefficiency and a lack of incentives, and the rapid economic growth of the Stalin years also occurred against a backdrop of political repression.
As to the problems we can expect from BIDE-O-NISM, Joe Biden’s Americanized version of STALINISM in the Soviet Union, they are as follows:
* Governments are poor at predicting future trends.
* Inflexible. Difficult to respond to shortages and surpluses
* Greater scope for corruption
* Planned economies often associated with greater political repression
end quotes
As to Joe taking steps to ensure the success of his government-subsidized domestic electric vehicle (EV) industry, consider the Reuters article titled “EV start-up Fisker prepares for possible bankruptcy filing, WSJ reports” on March 13, 2024, where we have a hurdle for Joe to overcome if he wants his government-subsidized domestic electric vehicle (EV) industry to be successful, to wit:
March 13 (Reuters) – Electric-vehicle start-up Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Earlier this month, Fisker flagged going-concern risks, job cuts and a pause in investments into future projects until it secures a partnership with a manufacturer.
end quotes
As those with memories will recall, this is the second time Fisker is going bankrupt, with Joe Biden having been its chief cheerleader the last time around.
But Joe’s problems don’t stop there, and as proof that Joe’s government is as poor at predicting future trends as any other fourth-rate banana republic, all we need do is go to a Reuters article titled “Lucid forecasts annual vehicle production below estimates” on February 21, 2024, where we have as follows:
Feb 21 (Reuters) – Lucid Group forecast annual vehicle production far below analysts’ estimates on Wednesday, on signs that demand for its luxury electric vehicles will slow down as high interest rates pinch consumer budgets.
Shares of the company fell around 5% in extended trading.
end quotes
And those high interest rates killing Joe’s INSANE GREEN DREAM are caused by BIDE-O-NOMICS, which takes us back to that story, to wit:
The company expects to make 9,000 units for the full-year 2024 compared with estimates of 22,594 according to five analysts polled by Visible Alpha.
The company made 8,428 vehicles in 2023.
The Saudi Arabia-backed company took to slashing prices once more for its Air sedans last week to counter sagging demand at a time when the EV industry is seeing a slowdown.
The company also missed estimates for fourth-quarter revenue hit by a slowdown in deliveries as consumers grapple with high costs.
end quotes
And they are not the only ones getting hurt by BIDE-O-NOMICS, as we see from another Reuters article titled “Rivian cuts jobs, sees annual production below estimates” on February 21, 2024, to wit:
Feb 21 (Reuters) – Rivian said on Wednesday it would cut its workforce by 10% and forecast EV production this year that widely missed estimates, hurt by downtime for factory upgrades and slowing demand for electric vehicles due to high interest rates.
Shares of the company tumbled about 17% in extended trading after Rivian said it expects to produce 57,000 vehicles in 2024, well below estimates of 81,700 units, according to eight analysts polled by Visible Alpha.
It produced 57,232 vehicles last year.
“We firmly believe in the full electrification of the automotive industry, but recognize in the short-term, the challenging macro-economic conditions,” CEO RJ Scaringe said in a statement on Wednesday.
Amazon.com-backed Rivian has been burning through cash to ramp up production of its R1S SUV and R1T pickup trucks as it spends on building a new factory in Georgia and loses thousands of dollars on every vehicle it builds.
The company’s cash burn comes at a time when demand for EVs has slowed, with Tesla CEO Elon Musk warning that high interest rates are making cars unaffordable.
After shying away from reducing the price of its vehicles last year despite a price war sparked by Tesla, Rivian this month cut the price of its R1T pickup trucks and R1S SUVs by $3,100.
end quotes
And then Bloomberg puts the icing on the cake in a story titled “Investors Flee Tumbling EV Upstarts Once Hailed as ‘Next Tesla’” by Esha Dey on February 25, 2024, where we have as follows with respect to Joe Biden’s COMMAND ECONOMY, to wit:
(Bloomberg) — There was a time when the backing of some of the world’s deepest pockets and the mere ambition to sell electric cars was enough to inspire confidence in the stocks of upstarts Rivian Automotive Inc. and Lucid Group Inc.
Now investors have all but thrown in the towel on the shares.
All it took was a fresh dose of reality from the two companies this week around cooling demand for EVs.
Rivian, which makes electric pickups, SUVs and delivery vans and counts Amazon.com Inc. as its top shareholder, said its production will stay flat at last year’s levels.
It also announced plans to shrink its workforce again.
Lucid, majority-owned by Saudi Arabia’s sovereign wealth fund, projected only a slight increase in output over 2023.
Both forecasts fell far short of analysts’ expectations.
For investors, the sense of gloom has been building since October, when Tesla Inc. warned of sagging interest in EVs.
Though shares of the EV giant have fared poorly since then, losing around 20% and massively underperforming the broader market, the impact on smaller rivals like Rivian and Lucid has been nothing short of disastrous.
Shares of Irvine, California-based Rivian are down by about 44% since Tesla’s October warning — the first in a series of grim outlooks from global EV-makers and suppliers — and closed Friday at a record low.
Newark, California-based Lucid has dropped some 33% in the same period, and isn’t far above its own nadir.
Still, had it not been for their wealthy backers — Amazon has a 17% stake in Rivian, and Saudi Arabia’s Public Investment Fund holds roughly 60% of Lucid, data compiled by Bloomberg show — the stocks could be looking far uglier.
“The presence of these names is a comfort to investors and a cushion to the price,” Mazza said.
“If these stocks were just relying on the EV hype, then they will be down much worse.”
Overall, the biggest concern is that these cash-burning, unprofitable companies will struggle to sell cars at a time when even industry-leader Tesla — by far the biggest seller in the US market — is cutting prices to boost demand.
And while Tesla’s profits and large-scale production allow it to compete by lowering prices, Rivian and Lucid have neither of those advantages.
“For these car manufacturers, investors want to see demand,” said David Wagner, portfolio manager at Aptus Capital Advisors.
Rivian’s latest results suggest it will take several quarters to emerge from its production stoppage with a leaner cost structure and a redesigned platform, he said.
“In the meantime, I think skeptics will be scrutinizing the cash balance and ringing alarm bells,” Wagner said.
“So if there is no multiple expansion and no growth — what else is the stock supposed to do?”
Both Rivian and Lucid are now worth a fraction of the prices they fetched at their public-market debuts in 2021.
Rivian’s market value is around $9.6 billion, and Lucid’s is about $6.9 billion.
That’s a long way down from their $153 billion and $91 billion valuation peaks, respectively, in 2021.
Wall Street analysts are losing confidence as well.
Analysts’ average 12-month price targets for Rivian and Lucid fell nearly 20% just this week.
Meanwhile, the outlook for EVs broadly just keeps getting worse.
Global sales of EVs are estimated to grow 20% this year, to about 16.7 million units, according to BloombergNEF’s most recent analysis.
That’s a marked cooling from the 33% jump seen in 2023.
“Trying to be the ‘next Tesla’ is turning out to be an expensive strategy,” Morgan Stanley analyst Adam Jonas wrote in a note Friday.
“As EV startups turn into restructuring stories, whoever finds a sponsor has the best chance.”
http://www.capecharlesmirror.com/paul-p ... ent-907969
Paul Plante says:
And yes, people, disjointed, and indeed, demented, as in the demented Biden administration policies are not well connected or well ordered, and therefore are often confusing as we see in a Reuters article titled “Yellen says US moving to ensure domestic EV maker success despite China’s exports” by David Lawder on March 13, 2024, where we have this drivel from Biden treasury secretary Janet “TOODLES” Yellen to consider, to wit:
ELIZABETHTOWN, Kentucky, March 13 (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said President Joe Biden’s administration is taking steps to ensure the success of its domestic electric vehicle (EV) industry in the face of China’s growing exports in the sector and heavy government subsidies.
Asked whether the United States needs new tariffs on Chinese EVs, Yellen told reporters at a new battery materials plant in Kentucky: “I don’t want to get ahead of where we are, but it is a commitment that President Biden has made … that we’re going to want our domestic industry to be successful.”
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And with those statements from “TOODLES,” here we are, back to BIDE-O-NISM, Joe’s COMMAND ECONOMY, out of which comes BIDE-O-NOMICS, and its related BIDENFLATION, and by way of review, a “Command economy” or “Communist economy,” also known as a “Central Planned Economy” is an economy where decisions on what to produce, how to produce and for whom are taken by the government in a centrally managed bureaucracy.
For those of us with memories that extend farther back in time than just a few minutes ago, we recall that the Soviet Union often announced ‘5-year plans’ where targets for steel production would be created, and as we learned in 7th grade social studies, in the period 1928-40 and after the Second World War, these Five-year plans were very successful in terms of expanding the Soviet Union’s industrial production, so that for a period, the Soviet Union achieved very rapid rates of economic growth.
However, by the 1960s, the system was struggling with corruption, inefficiency and a lack of incentives, and the rapid economic growth of the Stalin years also occurred against a backdrop of political repression.
As to the problems we can expect from BIDE-O-NISM, Joe Biden’s Americanized version of STALINISM in the Soviet Union, they are as follows:
* Governments are poor at predicting future trends.
* Inflexible. Difficult to respond to shortages and surpluses
* Greater scope for corruption
* Planned economies often associated with greater political repression
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As to Joe taking steps to ensure the success of his government-subsidized domestic electric vehicle (EV) industry, consider the Reuters article titled “EV start-up Fisker prepares for possible bankruptcy filing, WSJ reports” on March 13, 2024, where we have a hurdle for Joe to overcome if he wants his government-subsidized domestic electric vehicle (EV) industry to be successful, to wit:
March 13 (Reuters) – Electric-vehicle start-up Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Earlier this month, Fisker flagged going-concern risks, job cuts and a pause in investments into future projects until it secures a partnership with a manufacturer.
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As those with memories will recall, this is the second time Fisker is going bankrupt, with Joe Biden having been its chief cheerleader the last time around.
But Joe’s problems don’t stop there, and as proof that Joe’s government is as poor at predicting future trends as any other fourth-rate banana republic, all we need do is go to a Reuters article titled “Lucid forecasts annual vehicle production below estimates” on February 21, 2024, where we have as follows:
Feb 21 (Reuters) – Lucid Group forecast annual vehicle production far below analysts’ estimates on Wednesday, on signs that demand for its luxury electric vehicles will slow down as high interest rates pinch consumer budgets.
Shares of the company fell around 5% in extended trading.
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And those high interest rates killing Joe’s INSANE GREEN DREAM are caused by BIDE-O-NOMICS, which takes us back to that story, to wit:
The company expects to make 9,000 units for the full-year 2024 compared with estimates of 22,594 according to five analysts polled by Visible Alpha.
The company made 8,428 vehicles in 2023.
The Saudi Arabia-backed company took to slashing prices once more for its Air sedans last week to counter sagging demand at a time when the EV industry is seeing a slowdown.
The company also missed estimates for fourth-quarter revenue hit by a slowdown in deliveries as consumers grapple with high costs.
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And they are not the only ones getting hurt by BIDE-O-NOMICS, as we see from another Reuters article titled “Rivian cuts jobs, sees annual production below estimates” on February 21, 2024, to wit:
Feb 21 (Reuters) – Rivian said on Wednesday it would cut its workforce by 10% and forecast EV production this year that widely missed estimates, hurt by downtime for factory upgrades and slowing demand for electric vehicles due to high interest rates.
Shares of the company tumbled about 17% in extended trading after Rivian said it expects to produce 57,000 vehicles in 2024, well below estimates of 81,700 units, according to eight analysts polled by Visible Alpha.
It produced 57,232 vehicles last year.
“We firmly believe in the full electrification of the automotive industry, but recognize in the short-term, the challenging macro-economic conditions,” CEO RJ Scaringe said in a statement on Wednesday.
Amazon.com-backed Rivian has been burning through cash to ramp up production of its R1S SUV and R1T pickup trucks as it spends on building a new factory in Georgia and loses thousands of dollars on every vehicle it builds.
The company’s cash burn comes at a time when demand for EVs has slowed, with Tesla CEO Elon Musk warning that high interest rates are making cars unaffordable.
After shying away from reducing the price of its vehicles last year despite a price war sparked by Tesla, Rivian this month cut the price of its R1T pickup trucks and R1S SUVs by $3,100.
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And then Bloomberg puts the icing on the cake in a story titled “Investors Flee Tumbling EV Upstarts Once Hailed as ‘Next Tesla’” by Esha Dey on February 25, 2024, where we have as follows with respect to Joe Biden’s COMMAND ECONOMY, to wit:
(Bloomberg) — There was a time when the backing of some of the world’s deepest pockets and the mere ambition to sell electric cars was enough to inspire confidence in the stocks of upstarts Rivian Automotive Inc. and Lucid Group Inc.
Now investors have all but thrown in the towel on the shares.
All it took was a fresh dose of reality from the two companies this week around cooling demand for EVs.
Rivian, which makes electric pickups, SUVs and delivery vans and counts Amazon.com Inc. as its top shareholder, said its production will stay flat at last year’s levels.
It also announced plans to shrink its workforce again.
Lucid, majority-owned by Saudi Arabia’s sovereign wealth fund, projected only a slight increase in output over 2023.
Both forecasts fell far short of analysts’ expectations.
For investors, the sense of gloom has been building since October, when Tesla Inc. warned of sagging interest in EVs.
Though shares of the EV giant have fared poorly since then, losing around 20% and massively underperforming the broader market, the impact on smaller rivals like Rivian and Lucid has been nothing short of disastrous.
Shares of Irvine, California-based Rivian are down by about 44% since Tesla’s October warning — the first in a series of grim outlooks from global EV-makers and suppliers — and closed Friday at a record low.
Newark, California-based Lucid has dropped some 33% in the same period, and isn’t far above its own nadir.
Still, had it not been for their wealthy backers — Amazon has a 17% stake in Rivian, and Saudi Arabia’s Public Investment Fund holds roughly 60% of Lucid, data compiled by Bloomberg show — the stocks could be looking far uglier.
“The presence of these names is a comfort to investors and a cushion to the price,” Mazza said.
“If these stocks were just relying on the EV hype, then they will be down much worse.”
Overall, the biggest concern is that these cash-burning, unprofitable companies will struggle to sell cars at a time when even industry-leader Tesla — by far the biggest seller in the US market — is cutting prices to boost demand.
And while Tesla’s profits and large-scale production allow it to compete by lowering prices, Rivian and Lucid have neither of those advantages.
“For these car manufacturers, investors want to see demand,” said David Wagner, portfolio manager at Aptus Capital Advisors.
Rivian’s latest results suggest it will take several quarters to emerge from its production stoppage with a leaner cost structure and a redesigned platform, he said.
“In the meantime, I think skeptics will be scrutinizing the cash balance and ringing alarm bells,” Wagner said.
“So if there is no multiple expansion and no growth — what else is the stock supposed to do?”
Both Rivian and Lucid are now worth a fraction of the prices they fetched at their public-market debuts in 2021.
Rivian’s market value is around $9.6 billion, and Lucid’s is about $6.9 billion.
That’s a long way down from their $153 billion and $91 billion valuation peaks, respectively, in 2021.
Wall Street analysts are losing confidence as well.
Analysts’ average 12-month price targets for Rivian and Lucid fell nearly 20% just this week.
Meanwhile, the outlook for EVs broadly just keeps getting worse.
Global sales of EVs are estimated to grow 20% this year, to about 16.7 million units, according to BloombergNEF’s most recent analysis.
That’s a marked cooling from the 33% jump seen in 2023.
“Trying to be the ‘next Tesla’ is turning out to be an expensive strategy,” Morgan Stanley analyst Adam Jonas wrote in a note Friday.
“As EV startups turn into restructuring stories, whoever finds a sponsor has the best chance.”
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