Archive for the ‘economy’ Category

By John Ruberry

Hello parents! Do you want to raise children who will enter politics? Then keep reading.

Rather than bringing up kids to act responsibly, your politico children need to end up the complete opposite of that.

Unlike me. Which is why rather than claiming the idea for this blog post as entirely my own, I have to credit an old Mad Magazine article from decades ago. 

Here we go.

Your political children need to be proficient liars. Incoming Republican congressman George Santos of New York invented an entire past for himself. He lied about where he worked, what schools he attended, what religion he is, how much money he made, where and when his mother died, and possibly even his sexual preference. Apparently, Santos was more truthful when he ran for Congress in 2020. And what did that get him then? A defeat. 

Over on the Democratic side, US Sen. Elizabeth Warren, all the way back to her academic career, claimed to be a Native American. In preparation for her 2020 presidential run, Warren released a DNA test that she claimed there was “strong evidence” that she had an Indian ancestor six to ten generations back, making her anywhere from 1/64th to 1/1024 indigenous American.

That lie led Donald Trump to dub Warren “Pocahantas.” As for the former president, he refused to release his tax returns after announcing his first run for president because the real estate mogul said we was undergoing in IRS audit. He wasn’t. 

But our current president, Joe Biden, is a Baron Munchausen-level fabulist. Some of his lies are humorous, such as the tale, which has been debunked numerous times, about Biden being told in the 2010s that he traveled over one million miles on Amtrak by an on-duty conductor who retired twenty-years earlier. Other lies, such as Biden the blaming the rise in gasoline prices since he took office two years ago solely on the war in Ukraine, betray a lack of emotional maturity. 

Just last month, Biden claimed to have been the impetus for the awarding a Purple Heart to an uncle, a World War II veteran. That didn’t happen

And the Inflation Reduction Act is simply an expensive falsehood.

Your political children need to blame others for their mistakes. In addition to blaming Putin for high energy prices, Biden and his administration pointed their collective finger at Trump for the highest inflation America has suffered in four decades. Rather, it was Biden’s anti-energy policies and his pork-laden $1.9 trillion stimulus bill of 2021 that were the culprits. The American economy was well on its way to recovery from the COVID-19 lockdown by then, the bill was not only unnecessary, but also harmful. 

Your political children need to procrastinate. Just a few days ago, as a government shutdown loomed, Joe Biden signed into law a massive spending bill, one that will almost certainly add oxygen to our roaring inflation fire. Spending bills are due annually before October 1, but not since 1996 has a spending bill has been signed into law before that date.

So when one of your children drops a bomb on you that urgent help is needed on a ten-page term paper–which is due the next morning–you should be proud. You are raising a politician. Which brings me to my next recommendation.

Your political children need to ignore their homework assignments. Here’s one more item about that most recent spending bill. It’s over 4,000 pages long. Few if any members of Congress read it before voting on it. And I am certain that man who signed it into law, Joe Biden, didn’t read it either.

John Ruberry regularly blogs at Marathon Pundit.

By John Ruberry

Every time Americans shop at a supermarket, they are reminded of a de facto tax on their spending power–inflation. The classic definition of inflation is too many dollars chasing too few goods, which, President Joe Biden and his apologists, jumped on last year when they deemed inflation as “transitory,” pointing at the supply-chain crisis and the backlog of freighters at America’s major seaports. Left out of Biden and Company’s explanation was his $1.9 trillion stimulus package, which the president signed into law in early 2021, when the economy was clearly already recovering from the COVID lockdown.

But the supply-chain crisis was in fact a couple-months long hiccup. After all, if the supply-chain crisis was such a concern, why did we only find out after the media began asking questions on the whereabouts of the person in charge of our ports, secretary of Transportation Pete Buttigieg? Only then was it revealed that Buttigieg was on paternity leave

The semiconductor chip shortage has driven up the price of new automobiles. The lack of chips is tied to the worldwide COVID lockdown. I’ll discuss cars in a bit. 

Over the past 12 months, according to the September figures from the Bureau of Labor Statistics, inflation soared, again, to a level not seen in four decades, at a rate of 8.2 percent. Despite what appears to be, for real, a transitory drop in gasoline prices. But fuel prices are dramatically higher than when Donald Trump was president because of the Biden administration’s anti-fossil fuel polices. Food and housing prices are way up. Agriculture is a major user of energy, and many fertilizers are derived from fossil fuels. And those increasingly expensive loaves of bread you see on the shelves of your local supermarket don’t arrive there by way of osmosis, nor by electric trucks.

But don’t worry, Biden recently signed the Inflation Reduction Act into law. Insert The Simpsons’ Nelson Muntz “haw-haw” here.

The new car shortage has led to a used car shortage. All vehicles are more expensive. To fight inflation, the Federal Reserve, continues to hike its key interest rate, which drives up all lending. Most people don’t pay cash for cars, they finance. 

Then there is housing. Maria Bartiromo, on Fox and Friends this morning, laid the truth on the line when she said, “People who are going to buy a home are realizing that their mortgage payment now going to be going to be hundreds and hundreds of dollars more than they thought every month.”

Okay, no big deal, you might say, “I can always rent a place to live.” But rents are up too.

Now, if you are a Beltway insider, then you need not worry. Washington is recession proof. And the capital’s response, particularly when Democrats are in charge, is always more government. If you are a DC insider, you are well paid. You’re not sweating about food prices going up and you can afford an electric vehicle and the expense of installing a car charger in your garage.

The only known cure for high inflation is a recession. Despite Democrats’ creative denials, we are in one already.

Expect our economy to get even worse.  

But to paraphrase Ronald Reagan, “Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Joe Biden loses his.”

John Ruberry regularly blogs at Marathon Pundit.

One of the side effects of California’s insane move to ban the sale of gas powered cars in 13 years is coming into play in Massachusetts.

It seems that lawmakers in several states including mine which are controlled by the left that want to be as insane as California but still believe that to do so openly might lead to defeat passed laws that tie the decisions in their states to those of California.

So because of this Massachusetts now has a bad on the sale of gas powered cars ready to go into effect in 2035 without anyone in the state actually making such a decision.

This means two things.

First if you are the Mass GOP this is a golden opportunity. The state party should be recruiting in every city and town, they should be visiting every car dealership, every repair shop, every parts dealer and every gas station to mobilize and energize voters. They should be recruiting candidate in every district with the promise to repeal any such laws that ties decision about how people in the bay state live to the whims of officials 3000 miles away that they have never voted for.

The fact that I am suggesting this instead of hearing that the GOP is already doing this however suggests that the Massachusetts GOP is going to do its best to earn the old GOP nickname of “the stupid party”, but you never know.

There is however one other point to make about this situation.

California is a very big state 163,696 square miles and while it borders three states (Oregon to the north, Nevada to the west and Arizona to the southwest its a bit of a haul to get there unless you live right on the northern, western and southern border. So when these rule kicks in you’re going to have to grin and bear it (until things collapse that is but I digress).

However not only is Massachusetts less than 1/10 of the size of California 10,565 but it borders five states (New York, Rhode Island, Connecticut, Vermont and New Hampshire) and while some spots in the state are less than a half hour drive from mains every resident in Massachusetts has a shorter drive to Maine than most people California have to any other state.

This means that if our state is stupid enough to allow this idiocy to continue then car dealers in every New England State plus NY have a windfall coming.

I bought my 1999 Buick LeSabre in Londonderry NH, it was less than an hour’s drive from my house to get it. What do you think will happen when people have the choice of paying 40-50K for a car in their own city or driving two hours or less away to get a car for not only half that price but without the prospect of some day having to pay for a battery repair that costs more than a new car?

If I’m a car dealer in any of those border states I’m salivating at this idea, and if I’m a current dealer in MA I’m looking at buying land in Hollis, or Nashua or Salem or Ringe NH or Halifax or Sanford VT or Woonsocket RI or Stafford or Thompson Ct or maybe even Boston Corner, Stephentown or Austerlitz NY.

Because barring an outbreak of sanity in Massachusetts or an even more unlikely outbreak of sanity in California you’ve going to have a steady stream of business heading your way, so you might as well get ready now.

By John Ruberry

Outside of sheer incompetence, a theme has emerged from the Joe Biden administration. When they need help, the White House calls on people they deem to be experts. 

Here’s a dirty secret of politics, or if your prefer, of advancing a preferred narrative. Anyone can find an “expert,” more on them in a bit, to support any opinion. It works in journalism too, the media wing of the Democrat Party.

When the discovery of the Hunter Biden laptop was revealed by the New York Post nearly two years ago–the mainstream media, social media, and of course the Biden campaign immediately moved to denounce it. The casus belli for journalists, Facebook, Twitter, and the like–Biden brought this up in a presidential debate–was that its emergence three weeks before Election Day in 2020 had “all the classic earmarks of a Russian information operation,” according to 51 former national security experts, led by James Clapper, a director of National Intelligence under Barack Obama. Every one of these “experts” either lied, signed on to something they knew little about, or just simply wanted to do whatever it took to prevent the reelection of Donald J. Trump. 

Eighteen months later, the New York Times admitted Hunter’s laptop, which provided voluminous evidence of his influence peddling centered on his being the son of a powerful politician, was authentic. The 51 experts can expect subpoenas from the House Judiciary Committee next year, assuming the Republicans take control of the House. Every one of these “experts” should have their security clearances permanently revoked.

Biden of course won the election. As a result of his policies, such as cancelling the construction of the Keystone XL pipeline, blocking new permits for drilling on federal land, gasoline prices soared and remain high. Although the economy was well into recovery mode two years ago, Biden signed into law the unfunded American Rescue Plan. Many experts at the time claimed it would not fuel inflation. They were wrong. Just as those national security “experts” were wrong on Hunter’s laptop. 

When inflation began its ascent, the White House cited 15 Nobel laureates in economics who said that Biden’s Build Back Better bill, enacted in late 2021, would not fuel inflation. They were wrong too. Inflation is now at levels not seen since the early 1980s. Last year Biden and other “experts” were saying inflation was “transitory.” Liberals reading this post will blame inflation on the War in Ukraine, you know, “Putin’s price hike.” Sure, the war likely has an effect on inflation, but the scourge was with us before Russia’s invasion Ukraine. 

Build Back Better was originally part of a much larger bill, the green energy stuff was split off and later discarded after Sen. Joe Manchin (D-WV) said he wouldn’t support it. Well, Build Back Better Part Two is back, laughably renamed the Inflation Reduction Act. And to bolster its support, the Biden White House has–are you ready?–called on experts, this time, four former Democratic Treasury secretaries and one Republican, who claim, among other things, that the Inflation Reduction Act will “fight inflation” One of those ex-Treasury secretaries is Larry Summers, who warned last year the Biden White House, “We’re taking very substantial risks on the inflation side.” 

A good journalist would track down Summers and ask him specifics on why this bill really will fight inflation.

Earlier I mentioned that journalists have a role in advancing political narratives. For example, at Forbes, Rhett Buttle offers a slobbering French kiss of propaganda, which is accompanied by this headline, “Experts Agree: The Inflation Reduction Act Accomplishes A Lot For Small Business And Working Families.” While late in the piece Buttle manages to write about the bill, “some who represent select corporate interests in Washington don’t completely agree” with the hype. But if Buttle was truly a journalist, he would have tracked down opponents of the Inflation Reduction Act and presented a balanced article.

Then again, real journalism is dead. Twenty years ago such a piece as the one written by Buttle would contain the sub-headline, “news analysis,” assuming a magazine like Forbes would even publish it. I took some journalism classes at the University of Illinois. If I turned in such an article for an assignment, a professor would have deservedly given me an “F,” enhanced by this underlined comment written in red ink, “This garbage reads like a press release.”

But Biden’s new batch of experts have spoken: The Inflation Reduction Act, which the Senate will vote on Sunday afternoon, will “fight inflation.”

Watch your wallet. Watch the cash in it lose its value.

Disclosure: This blog post should be classified as “news analysis.”

UPDATE 5:15pm EDT: The Democrats’ Inflation Reduction Act passed the Senate.

John Ruberry regularly blogs at Marathon Pundit.