Greetings, and welcome to the Halloween season! Manchin and Sinema are the only thing that stands in the way of a giant, economy-destroying meteor of leftwing pandering, energy crises ramp up in China and Europe, Biden nominates a commie, and more Flu Manchu shenanigans.
Inflation hits a 30 year high, yet Democrats are furious two of their own party aren’t letting them run even bigger deficits.
West Virginia Democratic Senator Joe Manchin calls the giant runway Porkulus fiscal insanity.
“What I have made clear to the President and Democratic leaders is that spending trillions more on new and expanded government programs, when we can’t even pay for the essential social programs, like Social Security and Medicare, is the definition of fiscal insanity,” Manchin said in a statement Wednesday.
Manchin says that any reconciliation bill must include a Hyde Amendment to bar federal taxpayer funding of abortion. I’m pretty sure Democrats would prefer kicking Manchin out of the party than give compromise on their holy of holies.
‘What if — and hear me out here,” writes Robert Reich, “we stopped letting two corporate Democrats singlehandedly block every single progressive policy we elected Democrats to pass?”
Okay, Robert. But how, exactly? The Democrats have 50 seats in the Senate. To pass a bill through reconciliation, the Democrats need 50 votes in the Senate. Two of the people who hold those 50 seats do not agree with the rest of the party on “every single progressive policy.” If the other 48 senators do agree — which is far from clear — the Democratic Party will have 48 votes for its agenda, two short of what it needs. Those two, not the Robert Reichs of the world, are the ones with the power to “stop” things.
“Should all of this just hinge on those two?” Representative Cori Bush (D., Mo.) asked yesterday. “Absolutely not.” But should doesn’t enter into it. The question is does “all of this” hinge on Sinema and Manchin? The answer is yes. Yes it does. And why? Because, again, “all of this” requires 50 votes in the Senate, and two of those votes aren’t on-board.
Underneath the complaints that Reich and Bush have leveled sits the erroneous implication that, come election time, American voters are obliged to press a button marked “Republican” or “Democrat,” and that, having done so, they are shipped a drone-like representative of the winning team from a central repository in Washington, D.C. Reich complains that “we elected Democrats.” But this is correct only in the aggregate. In fact, 50 different “we”s elected one hundred senators and 435 Representatives, who between them make up our majority and minority parties. There is nothing in this deal that obliges those emissaries to agree with one another.
Senators Manchin and Sinema are not a pair of uninvited interlopers who are unexpectedly gumming up the gears; they, themselves, are among the gears. This being so, the duo cannot be said to be “blocking” the Democrats’ de facto Senate majority so much as they are sustaining the Democrats’ de facto Senate majority. Why? Because their decision to caucus with the Democrats rather than the Republicans is the only reason that majority exists in the first place. To hear progressives talk, one would assume that in order to take one’s place within the firmament one must first swear a blood oath to Dick Durbin. Shockingly enough, one is obliged to do no such thing.
If there’s one thing we know about the looming debt limit crunch and the warnings about the dire consequences of default, it’s this: The government is not going to default.
The recurring brinksmanship over the debt limit and the partisan refusal to get Republican fingerprints on the increase don’t say much for our political class. But the U.S. Treasury isn’t full of stupid people, and they’ve been through this drill before. Back in July 2011, when the debt ceiling of $14.3 trillion was about to be reached, the Washington Post reported:
The Treasury has already decided to save enough cash to cover $29 billion in interest to bondholders, a bill that comes due Aug. 15, according to people familiar with the matter.
You can bet they’re making similar plans today. The difference is that 10 years later the debt ceiling is $28.4 trillion, just about doubled, and we’re about to bump into it again.
Back in that summer of discontent I talked to a journalist who was very concerned about the “dysfunction” in Washington. So am I. But I told her then what’s still true today: that the real problem is not the dysfunctional process that’s getting all the headlines, but the dysfunctional substance of governance. Congress and the president will work out the debt ceiling issue, probably just in the nick of time. The real dysfunction is a federal budget that doubled in 10 years, unprecedented deficits as far as the eye can see, and a national debt (more accurately, gross federal debt) yet again bursting through its statutory limit of $28.4 trillion and soaring past 120 percent of GDP, a level previously reached only during World War II.
The Cornell University law school professor [Saule Omarova]’s radical ideas might make even Bernie Sanders blush. She graduated from Moscow State University in 1989 on the Lenin Personal Academic Scholarship. Thirty years later, she still believes the Soviet economic system was superior, and that U.S. banking should be remade in the Gosbank’s image.
Snip.
Ms. Omarova thinks asset prices, pay scales, capital and credit should be dictated by the federal government. In two papers, she has advocated expanding the Federal Reserve’s mandate to include the price levels of “systemically important financial assets” as well as worker wages. As they like to say at the modern university, from each according to her ability to each according to her needs.
In a recent paper “The People’s Ledger,” she proposed that the Federal Reserve take over consumer bank deposits, “effectively ‘end banking,’ as we know it,” and become “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.” She’d also like the U.S. to create a central bank digital currency—as Venezuela and China are doing—to “redesign our financial system & turn Fed’s balance sheet into a true ‘People’s Ledger,’” she tweeted this summer. What could possibly go wrong?
The FBI’s annual report Monday made official what most unfortunately presumed: The United States in 2020 experienced the biggest rise in murders since the start of national record-keeping 60 years ago.
The Uniform Crime Report detailed a murder increase of nearly 30 percent.
The previous largest one-year change was a 12.7 percent increase back in 1968. The national rate of murders per 100,000, however, still remains about one-third below the rate in the early 1990s.
The FBI data show around 21,500 total murders last year, which is 5,000 more murders than in 2019. More than three-fourths of reported murders in 2020 were committed with a firearm, the highest rate ever reported.
Now before you start jumping to conclusions about a correlation between the leftist fever to defund the police and a huge jump in the nation’s murder rate, you should probably be aware of the fact that the Democrats want you to know that there’s no problem at all.
That’s right, the same people who want us all to live in mortal fear of being breathed on by a stranger at Kroeger are trying to poof away a pile of bodies.
Speaking of Flu Manchu, here’s NBA player Jonathan Isaac calmly explaining why he doesn’t feel he needs the vaccine:
This is a calm, intelligent, respectful statement as to why @JJudahIsaac is hesitant about getting the Covid vaccine. Instead of screaming at those who are still figuring it out, listen to his response. pic.twitter.com/Q1xMLw8boX
The Lancet just gives up on trying to determine the origins of Flu Manchu, much like OJ has given up on finding the real killers.
China is trying the classic idiot price controls strategy for its self-inflicted energy crisis:
China is officially panicking.
Now that the global energy crisis has slammed China’s economy, leading to the first contractionary PMI since March 2020 as a result of widespread shutdowns of factory and manufacturing, not to mention hundreds of millions of Chinese residents suffering from periodic blackouts, Bloomberg reports that China’s central government officials “ordered the country’s top state-owned energy companies to secure supplies for this winter at all costs.”
Translation: Beijing is no longer willing to risk social anger and going forward China will be subsidizing coil and nat gas, which will lead to even higher prices, which will lead to even higher prices for other “substitute” commodities such as oil, which is why oil surged on the news.
The news follows a report on Wednesday that China will allow soaring coal prices to be passed on to factories in electricity prices. But prepare for a surge in PPI, which will likely not be allowed to be passed on to CPI due to ‘common prosperity’. Which logically means margin collapse, and shutting down – so even more structural shortages. Unless we get state subsidies of some sort, or differential pricing for the foreign and domestic market. There used to be a name for that kind of economy. Wall Street used to pretend it didn’t like it.
“We don’t want normal,” said activist Earnest Greer. “We want radical change. What if everything goes back to the way it was without us completely dismantling and rebuilding the system?”
Liberals saw the pandemic as an opportunity to get people less clingy to individual freedom and more accepting of government planning significant parts of everyone’s lives. Normal would mean relinquishing that power, which is anathema to the Left.
Hunter Biden is the gift that keeps digging: “The Russians have videos of me doing crazy f***ing sex!’ Hunter Biden is seen in unearthed footage telling prostitute that Russian drug dealers stole ANOTHER of his laptops.” 1. Hunter has more Russian-related felonies in a single weekend than Donald Trump had in his entire lifetime. 2. I don’t lose pennies the way Hunter loses laptops…
The obvious fact is, however, that this corrupt corporate press and the Jennifer Rubin “conservatives” of the world are the ones who propped Cuomo up as “the gold standard,” to use Joe Biden’s words, even describing themselves as “Cuomosexuals.”
Cuomo’s “radical transparency” made him a “terrific bureaucrat,” they said. Cuomo is “inspiring, uplifting, fascinating,” and truly “magnificent,” they insisted. He’s “honest, direct, brave,” and what “real leadership” looks like. Elites gave him an Emmy and blessed him with softball interviews and comedy-hour airtime, with left-wing activists working behind the scenes to discredit Cuomo’s accusers.
Tuesday’s resignation signals it’s the end of the road for Cuomo — for now. But if the media can sit and twiddle its thumbs — or worse, kiss keister and perform comedy sketches with giant Q-Tips — while thousands of elderly folks die in New York nursing homes and women in the double digits tell of a gropey governor’s disgusting habits, we must ask: How many other Andrew Cuomos is the media covering for?
Covering for elite misconduct is a perpetual problem in the media; it didn’t start with Cuomo. As Federalist Political Editor John Daniel Davidson wrote on Tuesday, the media did the same with Harvey Weinstein, Jeffrey Epstein, and Theodore McCarrick. Don’t forget Bill Clinton or Roman Polanski, either.
“Everyone knew. No one cared. No one said anything until forced to. Then the feigned shock and outrage, the concern about the treatment of women, the hand-wringing and Me Too-ing, the performances on social media,” Davidson wrote. “As long as sexual harassment, assault, abuse, even the sex trafficking of underage girls stays quiet, then [the media] stay quiet, too.”
You read all this and think: The governor is a letch, a creep, a dirty old man. But also a nut—a high-functioning one, a politically talented one, but a nut. Only a nut would do these things, and only a nut would think he wouldn’t be found out.
No one in New York is walking around saying “I don’t believe it” or “That’s not the Andrew I know.” It’s apparently the Andrew Cuomo a lot of people knew.
(1) When they say inflation will "spike" or increase this year, and then "come back down next year", what they are saying is the price will skyrocket…. AND THEN the price will remain high.
(14) They didn’t. Consumer prices did not increase.
Trump knew they wouldn’t because essentially those trading partners responded in the exact same way the U.S. did decades ago when the import/export dynamic was reversed. pic.twitter.com/FyID9YCSwN
(16) To retain their position, China and the EU responded to U.S. tariffs by devaluing their currency as an offset to higher export prices. It started with China, because their economy is so dependent on exports to the U.S.
Baltimore professor arrested for dealing math. “Prof. Edward C. Ennels taught math at Baltimore City Community College but appears to have been offering a running lesson on supply side economic theory. Ennels reportedly was selling grades on a sliding scale depending on your worth and your ambition: $150 for a C; $250 for a B; and $500 for an A. He has now earned jail time after pleading to 11 misdemeanor charges, including bribery and misconduct in office.”
Speaking of Baltimore schools failing their students: Some Baltimore high school students test at grade school levels.
Dan Crenshaw slams Jennifer Ruben for a huge mistake:
You’re a liar and an idiot. The number you referenced is TOTAL hospitalized since the beginning of the pandemic. Not newly hospitalized. https://t.co/1I7CRES2qA
That’s a hell of a correction. “When we wrote Nolan Ryan struck out 383 batters in a single game, we meant he struck out that many in a single season…”
The Biden Recession blooms, Bibby bombs, Baltimore burns, inscrutable Flu Manchu somehow infects the vaccinated, and Canada’s institutional religious hostility inflicts its revenge on the pastor that defied them. It’s the Friday LinkSwarm!
If inflation wasn’t enough to remind you of Biden’s reboot of That 70’s Show, how about long gas lines? An east coast gas pipeline was shut down by ransomeware attack launched by a hacking group called DarkSide.
Rendered with the magic of dyslexia
We’re actually very fortunate that a for-profit gang carried out this hack, rather than a terrorist group or state actor.
Seeing some reports stating that Israeli ground forces entered Gaza, but seeing some Twitter commentary that, no, they haven’t entered, but that IDF artillery and tanks are pounding Hamas tunnels.
Two weeks ago Turkish forces launched a military assault in the Duhok region of Iraqi Kurdistan. Villagers were forced to ‘flee in terror’ from raining bombs. It was only the latest bombardment of the beleaguered Kurds by Turkey, NATO member and Western ally. It did not trend online. There were no noisy protests in London or New York. The Turks weren’t talked about in woke circles as crazed, bloodthirsty killers. Tweeters didn’t dream out loud about Turks burning in hell. The Onion didn’t do any close-to-the-bone satire about how Turkish soldiers just love killing children. No, the Duhok attack passed pretty much without comment.
But when Israel engages in military action, that’s a different story. Always. Every time. Anti-Israel fury in the West has intensified to an extraordinary degree following an escalation of violence in the Middle East in recent days. Protests were instant and inflammatory. Israeli flags were burned on the streets of London. Social media was awash with condemnation. ‘IDF Soldier Recounts Harrowing, Heroic War Story Of Killing 8-Month-Old Child’, tweeted The Onion, to tens of thousands of likes. Israel must be boycotted, isolated, cast out of the international community, leftists cried. Western politicians, including Keir Starmer, rushed to pass judgement. ‘What’s the difference?’, said a placard at a march in Washington, DC showing the Israeli flag next to the Nazi flag. The Jews are the Nazis now, you see. Ironic, isn’t it?
This is the question anti-Israel campaigners have never been able to answer: why do they treat Israel so differently to every other nation on Earth? Why is it child-killing bloodlust when Israel takes military action but not when Turkey or India do? Why must we rush to the streets to set light to the Israel flag but never the Saudi flag, despite Saudi Arabia’s unconscionable war on Yemen? Why is it only ‘wrong’ or at worst ‘horrific’ when Britain or America drop bombs in the Middle East but Nazism when Israel fires missiles into Gaza? Why do you merely oppose the military action of some states but you hate Israel, viscerally, publicly, loudly?
The judgement and treatment of Israel by a double standard is one of the most disturbing facets of global politics in the 21st century. That double standard has been glaringly evident over the past few days. Israel is now the only country on Earth that is expected to allow itself to be attacked. To sit back and do nothing as its citizens are pelted with rocks or rockets. How else do we explain so many people’s unwillingness to place the current events in any kind of context, including the context of an avowedly anti-Semitic Islamist movement – Hamas – firing hundreds of missiles into civilian areas in Israel? In this context, to rage solely against Israel, to curse its people and burn its flag because it has sent missiles to destroy Hamas’s firing positions in Gaza, is essentially to say: ‘Why won’t Israelis let themselves be killed?’
Last year, Iran’s Supreme Leader Ayatollah Ali Khamenei admitted for the first time that his country was supplying the Palestinian terrorist groups with weapons. “Iran realized Palestinian fighters’ only problem was lack of access to weapons,” Khamenei said in an online speech.
“With divine guidance and assistance, we planned, and the balance of power has been transformed in Palestine, and today the Gaza Strip can stand against the aggression of the Zionist enemy and defeat it.”
Khamenei went on to offer the reason why Iran was sending rockets, missiles and tons of explosives to the Gaza Strip: “The Zionist regime is a deadly, cancerous tumor in the region. It will undoubtedly be uprooted and destroyed.”
Khamenei’s admission shows how the mullahs in Tehran have been lying to the West for many years. In 2011, Mohammad Khazaee, the Permanent Representative of Iran to the United Nations, sent a letter to the President of the United Nations Security Council in which he vehemently denied that Iran was smuggling weapons into the Gaza Strip.
Baltimore was one of the first cities to try “de-policing.” How did that work out for it? Not so hot:
This experiment has been an abject failure. Since 2011, nearly 3,000 Baltimoreans have been murdered—one of every 200 city residents over that period. The annual homicide rate has climbed from 31 per 100,000 residents to 56—ten times the national rate. And 93 percent of the homicide victims of known race over this period were black.
Remarkably, Baltimore is reinforcing its de-policing strategy. State’s Attorney for Baltimore Marilyn Mosby no longer intends to prosecute various “low-level” crimes. Newly elected mayor Brandon Scott promises a five-year plan to cut the police budget. Both justify their policies by asserting that the bloodbath on city streets proves that policing itself “hasn’t worked”; they sell their acceleration of de-policing as a “fresh approach” and “re-imagining” of law enforcement.
The tried “broken windows” policing without understanding it:
The motivation for de-policing traces to the city’s botched response to an earlier crime epidemic in the 1990s, when it averaged 45 homicides per 100,000 population, up 55 percent from the previous decade. So in 1999 Baltimoreans elected a mayor, Martin O’Malley, who promised to apply New York’s successful crime-fighting approach, where homicides had plunged by two-thirds over the decade (to one-ninth Baltimore’s rate) thanks to an expanded police force and innovative, proactive policing strategies.
O’Malley’s first commissioner, NYPD veteran Ed Norris, initially showed promise. By 2002, Baltimore’s homicide rate was 20 percent below its 1999 level. As O’Malley pressed for more, however, relations soured, and Norris departed (and some financial shenanigans eventually earned him a stint in federal prison). His successor, Kevin Clark, another NYPD import, also became embroiled in personal and professional controversy; he was fired and succeeded by a Baltimore PD holdover. By the time O’Malley moved to the Maryland governor’s mansion in 2007, Baltimore’s homicide rate was back to its 1990s average.
The problem was not just turmoil among BPD leadership and meddling (or worse) by O’Malley, but a fatal misunderstanding of what had worked in New York. There, the broad spectrum of criminal activity was addressed efficiently and with community engagement. Detailed data helped guide resources to crime hot spots. Chief William J. Bratton implemented the Broken Windows theory-inspired community-policing methods pioneered by social scientists George Kelling and James Q. Wilson, who understood how small manifestations of disorder could grow to larger ones. Minor offenses that made residents feel unsafe or hinted at acceptance of violence were addressed in order to improve quality of life, strengthen communities, and prevent serious crime.
In Baltimore, however, Broken Windows was misunderstood and misapplied. It mutated into a malignant variant, “zero tolerance” policing—and BPD conduct became not just intolerant but unfocused and excessive. As David Simon, a veteran Baltimore crime reporter and creator of HBO’s The Wire, summed things up, O’Malley “tossed the Fourth Amendment out a window and began using the police department to sweep the corners and rowhouse stoops and [per Norris] ‘lock up damn near everyone.’” That sometimes even included Wire crew members on their way home from a long day of filming.
True Broken Windows policing, in Kelling’s words, creates “a negotiated sense of order in a community” and involves collaboration between cops and residents. As one BPD vet put it, “You go to a community—before we come in, [we should ask], ‘What are the main things you all can’t stand?’ Everybody playing music at 11:30 at night, kids sitting on the corner, the prostitutes using the little park over there to work their trade. Now, ‘What don’t you care about?’ See the old guys sitting down at the corner playing cards every night? They could stay there all they want. . . . Then the police come in and do what the neighborhood wants. You just don’t go out and lock everybody up.” But, he concluded, “we went overboard.”
Then they adjusted:
O’Malley’s successor, Sheila Dixon (the city’s first female and third black mayor), defied her staff’s recommendations and named as commissioner Frederick Bealefeld, a BPD lifer with no college pedigree. “It was something in my gut that felt he was the best person,” Dixon explained. “I could just feel his passion.”
Bealefeld understood community policing better than the New York imports, addressing disorder and crime efficiently. He attended community meetings tirelessly to find out what residents wanted done; got cops out of their cars and walking patrols more often; invested in better training; and supported cops’ work with kids. Partnering with a savvy federal prosecutor, Rod Rosenstein, he targeted known dealers and shooters, emphasizing quality arrests—including of cops on the take. It worked. Even as arrest totals fell (to 70,000 by 2010), so did the homicide rate, to a low of 31 per 100,000 residents by 2011.
And then the Social Justice started:
Dixon had embezzled gift cards meant for the poor—petty corruption is a Baltimore tradition—and in 2010 was succeeded by Stephanie Rawlings-Blake. The Oberlin-educated former public defender was more liberal than Dixon, personally lukewarm to Bealefeld, and sympathetic to those embittered by O’Malley’s “zero tolerance” policies. And she faced budget problems. De-policing, then, seemed to tick all the right boxes—and, with the homicide rate at a 23-year low (though still almost seven times the national average), there would be little outcry against it.
First came some defunding, with a 2 percent pay cut to help address a recession-related budget pinch; cops’ contributions to their pension funds also were raised to help address shortfalls there. The new mayor’s first proposed budget actually cut the BPD’s request by 10 percent, though the difference eventually was split. Demoralized, experienced cops started retiring in numbers.
Rawlings-Blake did not replace them, and she trimmed staffed aggressively. BPD budgets had consistently authorized about 3,900 positions through the O’Malley and Dixon years. Rawlings-Blake took that down by 5 percent in her 2012 budget and another 6 percent in 2013. Bealefeld called the cuts “unconscionable” and retired. As he’d told the head of the police union at one point, “you can only beat down your horses for so long before they give up.”
So even before Freddie Gray died in police custody in 2015 and Baltimoreans rioted, the BPD had 460 fewer budgeted “horses” than under Mayor Dixon—with 300 fewer on patrol, conducting investigations, or targeting violent criminals. Not surprisingly, the homicide rate surged 20 percent by 2013. And after the city’s newly elected prosecutor, Mosby, criminally charged six uniformed officers in Gray’s death—though she failed to convict any—proactive policing essentially ceased. The city’s annual body count jumped and has remained tragically high since.
Speaking of defunding the police, Minneapolis Mayor Jacob Frey admits that defunding the police was a huge mistake. If only the rest of the Minneapolis had realized this before all the deaths.
Just about everything they told us about transmission vectors for Mao Tze Lung was wrong:
Bars, gyms and restaurants. Those were just a few settings health experts warned could become hotbeds for COVID-19 spread as states began reopening in the spring and summer of 2020 following the first and second waves of the coronavirus pandemic in the United States.
Yet, public data analyzed by ABC News appears to tell a different story. The data from states across the country suggests specific outbreak settings (including bars, gyms, restaurants, nail salons, barbershops and stores — for the full list, see graphic below in story) only accounted for a small percentage, if any, of new outbreaks after the pandemic’s inital wave in 2020.
Snip.
Based on ABC News’ analysis of public data of all coronavirus cases in four states and D.C., the outbreak settings accounted for less than 5% of all COVID-19 cases in those states.
“World’s Most Vaccinated Nation Sees Active COVID Cases Double In Under A Week.” Mysterious uptick in the Seychelles.
Dave Hunt represented Clackamas County in the Oregon House of Representatives from 2003 through 2013. Hunt was the former Democratic Leader, Majority Leader, and Speaker of the House for the State of Oregon. As a legislator, Hunt the sponsor of a bill criminalizing sex trafficking in 2007. Hunt is currently a lobbyist working to influence the very chamber he left.
However, even more ironic in 2011, Dave Hunt use his position to support and vote for HB 2714. That bill created the crime of commercial sexual solicitation, the exact crime police used to charge Hunt when he was arrested and cited.
Sort of sounds like a garden variety prostitution solicitation charge. But if he’s one of the legislators to redefine that as “sex trafficking,” my sympathy is extremely limited.
NRA’s bankruptcy petition has been dismissed. Understandably, since it seemed a transparent ploy to begin with. It’s too bad Wayne LaPierre seems intent on dragging the NRA down with him…
Mark Sebu follows up on the Kentucky Ballistics explosion. Evidently it would haven taken 161,520 PI to shear the threads off the Sebu RN 50. Also, there were no pre-cuts on the sabot, suggesting it may indeed have been a counterfeit SLAP round that caused the explosion.
Not the Babylon Bee: O.J. Simpson backs Liz Cheney, accuses the Republican Party of “dishonesty.” I don’t feel I can adequately parody this real-life event, even though I should probably take a stab at it…
Top Gear/Grand Tour presenter James May found out that trickle charging a Tesla S’ main car battery didn’t charge the ordinary car battery, the one responsible for regular electric systems…like unlocking the hood latch to reach the same battery. Result: an hour of work just to reach the dead battery.
Speaking of impractical automotive accoutrements, here’s a Bugatti watch with a “working” W16 engine, yours for a mere $280,000…
Greetings, and welcome to another Friday LinkSwarm! The Biden economy kicks in, China behaves badly (again), and rock stars are fed up with woke. Let’s lead off with this weird photo people have been taking about all week:
How did you make the Carters look like tiny puppets?
Puppet people aside, what better image for the week in which Biden seems to be bringing stagflation back?
If you were wondering when the Trump boom would end and the Biden bust begin, it just did:
U.S. job growth for the month of April fell far below what experts had predicted, as data reported Friday showed an increase of 266,000 jobs, versus an estimate of 1 million — the largest miss relative to expectations since at least 1998.
Economists had suggested a positive outlook for the report, with the White House hoping for a gain of at least 700,000 jobs — making Joe Biden the first president ever to hit 2 million new jobs in his first 100 days. But expectations came crashing back to reality with data showing an overestimation of nearly 800,000 — the worst miss in decades.
The U.S. unemployment rate rose slightly from 6.0 percent to 6.1. March’s payroll gains were also revised downward by nearly 150,000 jobs, from an initial print of 916,000 to 770,000. Labor force participation rate rose slightly, to 61.7 percent.
Huh, irresponsible tax-and-spend policies, rampant inflation and paying people not to work evidently aren’t a recipe for economic success. Who knew?
Speaking of inflation, it looks like it’s back, baby! Rising metal, oil, and ag commodity prices all point to inflation. “Wood prices are at an all-time high at over $1,370 per 1,000 board feet.”
Biden Secretary of Energy Jennifer Granholm owns stock in “Proterra, an electric vehicle company that is being actively promoted by the Biden administration. Further, Granholm being the Secretary of Energy means she gets to make regulations that can directly enrich herself.” (Hat tip: Director Blue.)
Joe Biden said today, “Most people don’t know: you walk into a store and you buy a gun, but you go to a gun show you can buy whatever you want and no background check.”
This isn’t even close to being true. In fact, gun shows are subject to the same rules as apply everywhere else, which are that:
commercial transfers require federal background checks, but that
private transfers only require federal background checks if they are conducted within one of the thirteen states that superintend non-commercial firearms transactions
There are no special rules for gun shows. The same set of laws applies to them as applies to, say, your kitchen table: If you are in the business of selling guns, you are federally obliged to run a check. If you are not, you are not — unless your state requires you to. That’s it. There’s no “loophole” here, and nothing about gun shows that separates them from the broader debate about private sales.
A new poll from ABC and the Washington Post published on Wednesday found a significant drop in support for new gun-control laws, especially among young people.
The number of Americans supporting enacting new gun laws over protecting gun rights fell from 57 percent to 50 percent, a seven-point drop from when the poll was last conducted in 2018. The number of Americans favoring gun rights jumped from 34 to 43 percent, a nine-point jump. The difference between the two positions narrowed by 16 points overall.
The sharpest decline in support for new gun-control measures came among 18 to 29-year-olds and Hispanics. Both groups saw a 20 percent drop. Rural Americans and strong conservatives saw a 17-point drop.
Worker shortage is so acute that a Tampa MacDonald’s is paying people $50 just to interview for a job. “Some 17 million Americans remain on jobless benefits. Perhaps many of these people want jobs but are getting paid more to sit on the couch.”
How Michael Dell used several financial maneuvers to turn $3.6 billion into more than $50 billion.
The Who’s frontman Roger Daltry says that the woke are ruining the world. “It’s terrifying, the miserable world they’re going to create for themselves. I mean, anyone who’s lived a life and you see what they’re doing, you just know that it’s a route to nowhere.”
And Daltry wasn’t the only rock star calling BS on the woke. Also taking aim: punk rock icon John Lydon:
Johnny Rotten blames ‘wokeness’ for US ‘collapse’
Sex Pistols’ frontman Johnny Lydon had some rotten things to say about “wokeness.”
In a recent profile with the Times UK, the aging punk rocker decried “cancel culture” and the activists who campaigned to tear down national monuments which they say promote historical racism. The statues include that of Winston Churchill, one of the UK’s most revered prime ministers.
He also blamed academia as well as the media for giving “the space” to “tempestuous spoilt children.”…
Addressing calls to tear down Churchill’s statue in London, Lydon dismissed criticism that the wartime prime minister was racist. However, critics point out that the leader once referred to Indians as “the beastliest people in the world next to Germans,” and thought that black people are “[not] as capable or as efficient as white people.”
“This man saved Britain,” Lydon asserted. “Whatever he got up to in South Africa or India beforehand is utterly irrelevant to the major issue in hand.”
If there are any bigger haters in history than today’s cancel culture, Lydon conceded, it’s the Nazis — and Churchill took care of that.
Florida “whistleblower” Rebekah Jones is a big fat liar. “NPR describes Jones as a ‘top scientist’ leading Florida’s pandemic response. In fact, Jones has held three jobs in her field; all three have ended in her being terminated and criminally charged.”
Just when I thought that America couldn’t possibly get any softer, people start suggesting that there’s a role for the police in preventing knife murders. The snowflake generation strikes once again.
Is there any tradition that the radicals won’t ruin? As the brilliant Bree Newsome pointed out on Twitter, “Teenagers have been having fights including fights involving knives for eons.” And now people are calling the cops on them? I ask: Is this a self-governing country or not? When Newsome says, “We do not need police to address these situations by showing up to the scene & using a weapon,” she may be expressing a view that is unfashionable these days. But she’s right.
Disappointingly, my colleague Phil Klein has felt compelled to join the critics. In a post published yesterday, Phil asked in a sarcastic tone whether the police should “somehow treat teenage knife fights as they would harmless roughhousing and simply ignore it.” My answer to this is: Yes, that’s exactly what they should do — yes, even if they are explicitly called to the scene. I don’t know where Phil grew up, but where I spent my childhood, Fridays were idyllic: We’d play some football, try a little Super Mario Bros, have a quick knife fight, and then fire up some frozen pizza before bed. And now law enforcement is getting involved? This is political correctness gone mad.
It’s hypocrisy, too. Who among us hasn’t come within a second or two of murdering someone else with a steak knife? My best friend in school, Bobby “The Blade” Simpson, used to throw shivs at the smaller kids in the music room. Did we need the authorities to step in when that happened? No, we did not. As MSNBC’s Joy Reid argued smartly on her show last night, pranks such as these were dealt with by our teachers — just as we all expected they would be. And if something went wrong? Well, that’s why we had substitutes.
In all honesty, I worry that this sort of helicopter policing is making us weak. Back in my day, the people who survived a good stabbing came out stronger for it. I learned a lot of lessons from my time in the ring: self-reliance, how to overcome fear, the importance of agility, the basics of military field dressing. And, given the turnover, I also learned how to make new friends.
Sad news (and possibly foul play). “University of Texas linebacker Jake Ehlinger, the younger brother of former Longhorns quarterback Sam Ehlinger, was found dead Thursday.”
Disco still rules, with Donna Summer’s “Hot Stuff” topping the singles chart. The Ayatollah Ruhollah Khomeini has declared an Islamic Republic in Iran, but the Iranian hostage crisis remains months in the future, as does the Soviet invasion of Afghanistan. Hotly contested presidential races are getting underway among both Democrats (incumbent Jimmy Carter, Senator Edward Kennedy, and Governor Jerry Brown) and Republicans (Ronald Reagan, George H. W. Bush, Bob Dole, John Connally, and Phil Crane). John Wayne just died of cancer at age 72. Horror films are big, with Alien and The Amityville Horror ruling summer box offices.
Know what else was big in July of 1979? Inflation. It was running over 11%, up from 9% to start the year, and would reach nearly 15% in 1980. Indeed, the 70s saw the birth of a new word, stagflation, indicating both high unemployment and high inflation, something believed to be impossible under Keynesian economics.
It’s hard for people who didn’t live through it to imagine just how pervasive the idea was that this was the New Normal, that we’d just have to live with high levels of inflation for the rest of our lives. In 1970 gold went for under $40 an ounce; by 1980, after Nixon had severed the last Bretton Woods ties to the dollar and inflation was raging, it peaked around $600. Inflation was a dark, all-encompassing force that ate away family budgets and destroyed life savings.
On July 25, Carter nominated Paul Volcker to be chairman of the Federal Reserve. Once in office, Volcker oversaw a series of federal fund interest rate hikes, peaking at 20% in 1981. This tough but necessary medicine sent the economy into a recession (two, technically), but managed to kill inflation dead. That, and the Kemp-Roth tax cuts signed into law by Newly elected President Ronald Reagan, primed the American economy for long-term growth. Reagan gave Volcker political cover, refusing calls for his head, despite the short term pain of high interest rates and a serious recession, then renominated Volcker to a second term as Fed chair in 1983.
Volcker was 6’7″, smoked cheap cigars, and died yesterday at age 92. He was the right man for the right job at the right time, and that made all the difference in the world.
In a tale that highlights the chaos of unbridled inflation, Venezuela is scrambling to print new bills fast enough to keep up with the torrid pace of price increases. Most of the cash, like nearly everything else in the oil-exporting country, is imported. And with hard currency reserves sinking to critically low levels, the central bank is doling out payments so slowly to foreign providers that they are foregoing further business.
Venezuela, in other words, is now so broke that it may not have enough money to pay for its money.
Snip.
Last month, De La Rue, the world’s largest currency maker, sent a letter to the central bank complaining that it was owed $71 million and would inform its shareholders if the money were not forthcoming. The letter was leaked to a Venezuelan news website and confirmed by Bloomberg News.
“It’s an unprecedented case in history that a country with such high inflation cannot get new bills,” said Jose Guerra, an opposition law maker and former director of economic research at the central bank. Late last year, the central bank ordered more than 10 billion bank notes, surpassing the 7.6 billion the U.S. Federal Reserve requested this year for an economy many times the size of Venezuela’s.
When you run out of money to print money, perhaps you should take that as a sign the express train to you socialist paradise has permanently derailed.
As part of its ongoing economic collapse, Venezuela’s government is now going from a four-day workweek to a two day workweek. Given the bang-up job the socialists have done running the economy, I suspect that will hurt less than the shortages of food and toilet paper.
His adversaries first need to collect nearly 200,000 signatures, representing 1% of the nation’s more than 19 million voters. The National Electoral Council, which is closely allied with the government, has 20 days to authenticate them. If that drive is successful, the opposition must then collect nearly four million signatures over three days before the end of the year to trigger an actual recall vote. To win that new election, they would have to garner more votes than the 7.5 million Mr. Maduro got in the 2013 election.
Typically this is the point (or long past it) where a third world nation’s military would declare “enough!” and depose El Presidente themselves. So far neither armed forces leader Vladimir Padrino Lopez nor National Guard leader Nestor Reverol have shown any signs of doing so…
Thanks to The Magic Power of Socialism™, Venezuela is getting to experience the joy of living in a postindustrial society.
Indeed, Venezuela has returned to the dark ages. Literal dark ages, in that this petroleum-exporting country can no longer keep the lights on. That’s why they’re instituting an extra half-hour of daylight savings time to avoid turning on lights.
A hydroelectric plant at Venezuela’s Guri Dam, which produces two-thirds of the country’s power, is being affected by a severe drought.
Officials have warned for weeks the water level has fallen to near its minimum operating level and could soon be shut down completely.
Unlike other countries that use hydropower as a significant energy source, such as the US, Venezuela has no sufficient reserve energy system.
The South American nation has grappled with blackouts for years. Caracas occasionally shuts down because of citywide losses of power and some rural areas are living mostly in the dark.
Thanks to The Magic Power of Socialism™ and an estimated 800% inflation rate, Venezuela is now the most expensive place to live in the world, at least going by the official exchange rate. “Depending on which exchange rate you use, Venezuela can either be one of the cheapest countries in the world, or the most expensive.”
Democrats last year: “All those gun-toting white racist redneck freaks from Jesusland will be lining up to vote for Hillary!” Pollsters this year: Not so much.
“Let’s take Malcolm Turnbull at his word that it’s only “a very very small percentage of violent extremist individuals”. What is the actual percentage? In the aforementioned Malmo, where up to a thousand mostly young male “refugees” arrive each day, suppose the “very very small percentage” is two per cent. That’s 20 brand new “violent extremists” per day. During the Northern Irish “Troubles”, MI5 estimated that there were no more than a hundred active members of the IRA at any one time – that’s to say, people actively involved in shooting and killing. So Malmo is taking in the equivalent of the entire IRA every week.”
The Nairobi mall attack revisited. If this report is to be believed, armed civilians actually contained the threat, then army and security forces showed up and promptly managed to start shooting each other.
“In zombie world, the man who relies on the government for his safety will be zombie chow in short order…In zombieland, there are three kinds of people: those who know how to use guns, those who learn how to use guns, and zombies.”
“The currency in what should be the richest country in South America has collapsed, as well as its economy, under the dual weight of falling crude prices and the Chavista socialism that has been choking the country for more than a decade.”
More:
Venezuela’s Chavista policies have always ignored economic reality. Socialism is a fantasy economic system, especially as implemented by Hugo Chavez and Nicolas Maduro.
The difference between Venezuela and the nanny-state petro-economy in Norway is that the latter preserves itself by respecting private property and foreign investment. From the beginning, Hugo Chavez attacked both, nationalizing oil production and criminalizing private investors as part of his “Bolivarian” revolution. When it did that, it chased off the talent needed to run oil production and the investment needed for all other kinds of goods and services. For a short period of time, their oil revenue allowed it to succeed in ignorance. When that failed, Chavez and now Maduro reacted to those predictable consequences by predictably imposing all sorts of rationing mechanisms which only decreased incentives for production and investment, especially in the legitimate economy. Now that the price of oil has collapsed, so has the official Venezuelan economy — and a populace used to a high standard of living now endures massive shortages and ever-increasing oppression to cover it up.
Venezuela’s government is running a 14 percent of gross domestic product deficit right now, a fiscal hole so big that there’s only one way to fill it: the printing press. But that just traded one economic problem—too little money—for the opposite one. After all, paying people with newly-printed money only makes that money lose value, and prices go parabolic. It’s no wonder then that Venezuela’s inflation rate is officially 64 percent, is really something like 179 percent, and could get up to 1,000 percent, according to Bank of America, if Venezuela doesn’t change its byzantine currency controls.
There’s been a lot of talk of how low oil prices are screwing Russia, but Venezuela is, if anything, more screwed thanks to the Magic Power of Socialism™:
U.S. currency is vital to Venezuela, which imports as much as 80% of what it consumes; 96% of its exports are petroleum products…In effect, the one-third decline in the price of oil means that the state oil company must either raise or divert enough production because Venezuela effectively owes China 67 million barrels of oil, roughly 27 million more than it did before, for this loan alone. And there are billions of dollars in other loans to consider.
And the outlook for the immediate future is equally grim:
Venezuela’s economy is expected to contract in 2014 and 2015, and even though it’s already recognized as the 14th least competitive economy in the world (according to the World Economic Forum) and the eighth-worst economy for doing business (according to The World Bank), [President Nicolas] Maduro’s laws seem to discourage private investments even more. The new laws reinforce bureaucracy and the difficulty of doing business in the country, particularly in the area of taxes.
“Increasing numbers of low-income Venezuelans are souring on Maduro as they suffer a declining economy, the highest inflation in the Americas, chronic shortages of basic goods and one of the world’s highest murder rates.”
If Venezuela’s economy collapses, they might take Cuba down with them, since the Castro brothers are so heavily dependent on Venezuelan oil subsidies to prop up their own moribund economy.
Compounding Venezuela’s crises is the fact that it’s probably going to default on its bonds. So they’re finally reaching the point in socialism where the run out of other people’s money. Next to that singular problem, U.S. sanctions on government Venezuelan officials for killing protestors are a trivial irritation…
