Tag: kamala harris

It Hasn’t Worked Once, So Why Would A Politician Go All-In On Price Controls Now?

August 15th was the anniversary of the infamous “Nixon Shock”, when excessive spending and trade deficits had governments on the ropes, as prices climbed relentlessly, inflation soared into the double digits, while economic growth stalled.

In 1971 of that year, Nixon “temporarily” suspended convertibility of the US dollar for gold (still in effect), while simultaneously proclaiming a 90-day freeze on all wages and prices across the United States.

The stagflationary ’70s also saw Trudeau the 1st enact “The Anti-Inflation Act of 1975”, with his infamous “6 and 5” measures (a 6% cap on wage increases with a 5% cap on prices was supposed to put 1% back into the pocket of the peasants).

None of this worked, and as the lumpenpublic were mulched by higher prices and growing government, gold served as a barometer to it all – soaring from $35/oz at the time of the Nixon Shock to $850/oz in 1980 (that all-time high still won’t be exceeded in inflation adjusted terms until gold cracks about $2,580).

It took Paul Volcker  to get inflation under control with double-digit interest rates – (when the news came that he had been elevated from President of the New York Fed under Gerald Ford to Chairman by Jimmy Carter, Volcker’s wife burst into tears).

Today, 50 years later with a monetary regime that makes the ’70s look austere, double-digit interest rates are simply not an option – we’ve just seen a 5-sigma event nearly blow up the global monetary system from the BoJ nudging interest rates from the zero bound to 25bps.

With an unprecedented levels of monetary expansion and debt levels somewhere beyond nosebleed elevations, policy-makers and central bankers are trapped.

This is why we’re seeing a resurgence in popular rhetoric around the idea of price controls – everywhere from Jagmeet Singh here in Canada, who blames grocery store CEOs for inflation, to Dem nominee and incumbent Vice President Kamala Harris, channeling him with promises of food price controls as part of her election campaign.

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Behind the Curtain: New Twitter Files Reveal Biden-Harris Team’s Global Censorship Web

More revelations about the previously secret world of “coordination” between the Biden administration and major social media companies have come out with a new set of Twitter Files documents.

Released by journalist Paul D. Thacker, they show that what political opponents consider to be collusion rather than coordination did not concern only the US – and that the entire scheme was playing out through what were effectively middlemen.

The White House denies these accusations, including before Senate commissions investigating the damning claims, and fights them in courts.

However, the Twitter Files paint a different picture, and this time the focus involves Twitter, censorship demands coming from India, the State Department, and a lobbying firm, Albright Stonebridge, that was in charge of “coordination.”

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Three Quarters Of Democrat Voters Don’t Know What Any Of Kamala Harris’ Policies Are

A new poll has found that around three quarters of Democrat voters have no clue what Kamala Harris’ positions on key political issues are.

The survey, conducted by the Media Research Center, found that over 70 percent of “registered Democrats“ as well as Independents said they “either had not heard of Harris’s position or were unsure” on ten different issues.

The poll found that 78% of voters surveyed were unaware that Harris promoted a fund that aided violent BLM agitators to be bailed out of jail during the 2020 unrest. 

Seventy-four percent said they were unaware that Harris supported decriminalizing illegal immigration, and 72 percent had no clue that Harris “never visited a conflict zone on the border as Border Czar.”

Those surveyed stated that they get news information primarily from ABC, CBS, NBC, CNN, and MSNBC.

“This suggests that the knowledge gaps found by our poll reveal a failure of these outlets to report on radical positions once (and perhaps currently) supported by the now-Democratic nominee for President,” Media Research Center noted.

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Harris’s Price Control Plan is Worse Than You Think

The Myth of the Eternal Return is the title of a 1954 tome by the Romanian historian Mircea Eliade, although many other deep thinkers, from Pythagoras to Nietszche, have voyaged into the same poetic and philosophic recesses. 

My task is much shallower: To show how old, bad, ideas keep recurring in American politics. Yes, I bear witness to The Truth of Infernal Return. As with bad pennies and bad breath, it’s no myth that our politics are infested with nefarious ideas that never die and eternal lie. As with some Lovecraftian daemon, they await their infernal comeback. 

Case in point: Kamala Harris’s August 16 announcement of her plan for price controls—that being a fair way to describe federal monitoring of “price gouging.” Harris has revived one of the worst ideas from the stagflationary (stagnation + inflation) 1970s. More on that later, but let’s recall other bad ideas that have lamentably rebounded: 

First, unnecessary foreign war. Into this Baby Boomer, memories of the bloody futility of the Vietnam War are seared. So when the North Vietnamese finally conquered South Vietnam in 1975, my teenage self said, “Well, at least the U.S. will never make that mistake again.” Which only proves I had a lot to learn. As we all know, less than three decades later, the U.S. invaded Iraq, a military operation that made the Vietnam War look prudential. 

Today, 21 years after George W. Bush’s “Mission Accomplished”—the most grimly hilarious pronunciamento since Vietnam’s “It became necessary to destroy the town to save it”—we still have troops in Iraq, which is now dominated, of course, by Iran. So what, now, are those Americans doing there? They aren’t looking for WMDs, and they aren’t building democracy. Instead, they are fighting Al Qaeda, ISIS, Daesh—or whatever new bogeyman emerges from the Middle East’s tireless terror-meme generator. 

According to reports, the U.S. has 3,400 troops in Iraq and adjacent Syria, but only a fool would vouch for the accuracy of that number, given officialdom’s history of fibbing, the slippery X-factor of contractors—and perhaps some other number-hiding shell-game that we’ll learn about only in the next investigative scoop. 

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Kamala Harris at DNC Claims That Trump Threw Away People’s Votes – But That’s Exactly What Democrats Did to Install Her as Their Nominee

If you missed Kamala Harris’s speech at the Democrat National Convention, you didn’t miss much. The first act was all biography. The second act was all Trump bashing, naturally.

In one of the most stunning moments, she accused Trump of throwing away people’s votes. This is especially rich because Kamala wouldn’t even be the Democrat nominee without the Democrat party throwing away millions of votes from Democrat primary voters who voted for Biden.

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Harris -Walz are oblivious that the U.S. economy CAN NOT exist without crude oil.

“Renewables” such as wind turbines and solar panels ONLY exist to generate occasional electricity under favorable weather conditions, as they CANNOT make tires, toilet paper, iPhones, or any products or transportation fuels to support lifestyles and economies around the world!

Neither VP Kamala Harris nor Minnesota Governor Tim Walz are cognizant that all the parts of spacecrafts, EV’s, and for more than 50,000 merchant ships, more than 20,000 commercial aircraft  more than  50,000 military aircraft , 23,000 private planes, and 33 million pleasure boats are made from the products based on derivatives manufactured from crude oil.

In addition, all those merchant ships, commercial and military aircraft, private planes, and pleasure boats, use transportation fuels manufactured from crude oil. 

FURTHER, everything that NEEDS electricity to function, like iPhones, iPads, TV’s, computers, data centers, and X-Ray machines are made from the oil derivatives manufactured from raw crude oil.

It’s shocking that neither Harris nor Walz comprehend that electricity was developed AFTER the discovery of crude oil. Without the parts and components to be able to generate electricity such as insulation, copper wiring, computers, control panels, and air conditioning, there would be no electricity from any of the six methods used to generate electricity such as coal, natural gas, nuclear, hydro, wind, and solar.

Amazingly, neither Harris nor Walz have enough Energy Literacy to direct policymakers to write energy policies!

Policymakers have no comprehension that crude oil is virtually never used to generate electricity, but when manufactured into those petrochemicals that are the basis of more than 6,000 products, is the basis for virtually all the products that support Hospitals, Medical equipment, Appliances, Electronics, Telecommunications, Heating and Ventilating, and Communications systems.

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Hypocrite Alert: Bexar County Sheriff Javier Salazar Praises Kamala Harris as ‘Tough on the Border’ at DNC, Yet Demanded Biden and Harris Fix Border Crisis in Resurfaced 2022 Video

Democrat Bexar County Sheriff Javier Salazar took the stage at the Democratic National Convention (DNC) on Wednesday, delivering a speech that seemed more fantasy than reality.

Salazar not only attacked former President Trump, blaming him for Texas’s immigration crisis, but also heaped praise on Kamala Harris, hailing her as “tough on the border.”

“When Donald Trump comes down to Texas and stands next to officers in uniforms just like mine, he’s not there to help us. Don’t think that—not for a second. He is a self-serving man. I mean, look, just like when he killed the border bill, he just made our jobs harder.”

“Now, Kamala, on the other hand, has been fighting border crime for years. She’s gone down to Mexico and worked to stop the traffickers. When the traffickers didn’t stop, she put them in jail.”

“Now, down in my neck of the woods, we call that fooling around and finding out. I may be paraphrasing a bit. We protect them. Now, the border sheriffs that I know and I, we’re like Kamala. We protect and serve. We enforce the law, we show compassion, and we fight like hell to protect our border. Because as we’ve always known in Texas: When we fight, we win.”

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Kamala Harris’s updated truly lousy jobs report and stock market hysteria, today

Really, we just need to alert readers to this “development” (not really) yesterday and overnight, from Bloomberg:

Fed Confronts Up to a Million US Jobs Vanishing in Revision

US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. 

Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.

So that’s Bloomberg this morning. We’d like to know which “economists” are downplaying the Biden-Harris feints from labor on what our jobs are doing, and where they are going.

We already know that any “gains” in jobs, for years now, has been because of part-time hires, federal hires, and illegal migrant hires. The Labor Department is not forthcoming on these realities, either.

The Business Times offers this analysis vis-à-vis implications for any change in interest rates precipitated by a more honest picture:

US JOB growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.

Goldman Sachs Group and Wells Fargo economists expect the government’s preliminary benchmark revisions on Wednesday (Aug 21) to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated – about 50,000 a month.

While JPMorgan Chase forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million.

Have our federal information minders dropped the ball, or has Kamala forgotten to take care of her fraudulent economic/finance picture? Here’s more:

‘A large negative revision would indicate that the strength of hiring was already fading before this past April,’ Wells Fargo economists Sarah House and Aubrey Woessner said in a note last week. That would make ‘risks to the full employment side of the Fed’s dual mandate more salient amid widespread softening in other labor market data.’

However, Kamala may not need to overly worry, as we won’t have anything close to the truth until after the election:

The government’s preliminary benchmark projection will be followed by final revisions that are incorporated into the January employment report to be released in February.

That’s February 2025, folks. If Trump is in by then, he’ll be fixing it. If Kamala’s the man, she won’t notice it anyway.

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Kamala Harris is coming for your house

If you thought Kamala Harris’s price controls scheme was straight out of the Book of Nicolás Maduro, wait till you see what she has in stores with her proposal for a 25% tax on unrealized capital gains.

According to Americans for Tax Reform:

The Harris-endorsed budget calls for an annual 25 percent minimum tax on the unrealized gains of individuals with income and assets that exceeding $100 million. Once in place, it won’t be long before the threshold is lowered to hit more and more Americans.

Americans overwhelmingly oppose taxes on unrealized gains, by a factor of three to one, including 76% of independents. Americans know that a “gain” isn’t “real” until it is actually realized, in hand.

What that means is that if you bought a house for $60,000 in the 1970s, and saw its value go up to $1,000,000 on Zillow last year (which isn’t uncommon in places like California), you’d be on the hook for taxes on a million-dollar property, which would be more than you actually paid for the house, even though it’s the same ordinary house you bought in a middle-class neighborhood back in the ’70s and you haven’t changed residences.

The same could be said of any homeowner, you’d buy a house for $300,000, but as its value rises to $1.2 million, your tax bill would clock in for a $1.2 million property, and not the $300,000 tract home you bought a few years earlier. If the market value went down by the time you sold, to say, $250,000, you will have spent tens or hundreds of thousands of dollars on taxes while actually earning just $250,000 on your investment.

The same could be said of stocks, or crypto, or any asset, it’s not just homes. You’ll pay the huge taxes, but if the price goes down, as it inevitably will on some assets, you’ll have gotten nothing but the huge tax bill already paid.

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Harris Was Never in Charge of the Border

Vice President Kamala Harris was never the “border czar.” If you’ve kept up with the media lately, you might have noticed that the commentariat seems intent on clarifying that. Axios, among others, recently “clarified” their reporting on Harris’ border mismanagement and disavowed their previous use of the “border czar” title. Given Axios’s key role in fostering a DNC coup against a sitting president, we can interpret that Democrats recognize the scope of their failure on the southwestern border and want to distance themselves from the consequences. 

The consequences of the Biden-Harris administration’s border policies are well known and well documented. Violence on both sides of the border, record drug overdoses, and strained public institutions have marked a half-decade of utter chaos. The monotony of endless alien crossings and drug seizures obscures the transformational nature of the crisis, rendering the southwest a pot of boiling frogs.

It’s not a shock that the Democrats have decided to distance Harris from her time overseeing aspects of the administration’s border response. But with the Democratic National Convention underway, conservatives are obliged to review Harris’s failures on the border and communicate the consequences of these failures to the electorate. 

Harris was tapped to front the Biden administration’s signature border policy, the so-called “root cause” strategy, in March of 2021. She was placed in charge of “leading the administration’s diplomatic efforts to address the root causes of migration from El Salvador, Guatemala, and Honduras.”  At the time, Biden emphatically endorsed Harris as the woman for the job, even going as far as deputizing her to negotiate in his name: “When she speaks, she speaks for me. Doesn’t have to check with me. She knows what she’s doing, and I hope we can move this along.”

Despite the Biden White House’s typical bravado, the “root cause” strategy was seemingly a response to the administration being caught with its pants down. The string of controversies and leaks from the White House in the aftermath of the early Biden border announcements stand as evidence of the administration’s dilemma. After a half-decade of demonizing border enforcement as fascism, the Biden White House quickly dismantled the border enforcement framework left to them by the Trump administration in February 2021. Through a myriad of international deals, stepped-up enforcement, and creative use of authority granted to the executive to combat Covid-19, the Trump administration brought illegal migration to record lows in 2020. Dismantling such a carefully crafted framework was sure to have catastrophic consequences, but the White House pressed ahead regardless. The ongoing catastrophe began to unfold within weeks of the administration’s actions. 

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