Category Archives: Biden

10/22/21

The Black Magic Of Congressional Arithmetic

When one reads anything these days one is confronted by headline grabbing numbers as to the “cost” of various pieces of legislation — right now this falls under the headings of “infrastructure” and “social infrastructure.”

There are two bills at play now in the US Congress.

 1. Bill No 1 — the Infrastructure Investment and Jobs Act (10 Aug 2021), priced at $1,200,000,000,000.

 2. Bill No 2 — the “social infrastructure” bill, known as the Build Back Better Bill informally, is intended to be passed by reconciliation, a legislative trick that requires a simple majority in both the House and Senate. This bill is priced at $3,500,000,000,000.

These two bills are in addition to the American Recovery Plan Act already enacted by POTUS Biden and the US Congress (the Dems) for $1,900,000,000,000.

We are talking nominal spending of more than $6,600,000,000,000 — which I believe understates the total expenditures by more than $3-4,000,000,000,000 because of Congressional Black Magic Arithmetic.

That is a total of approximately $10,000,000,000,000 which will ultimately add about $7,000,000,000,000 to the National Debt.

Hello, America! Are y’all paying attention to this?

“Who are you going to believe? Me, your Truthful Aunt Nancy, or that rusty bag of bolts, Big Red Car? I’m going to squeeze his headlights but good. Look into my eyes.”

Continue reading →

10/21/21

Cut The Crap — Energy And Inflation

Today we cut the crap about the impact of energy, specifically rising energy prices, and inflation.

 1. The Biden admin made some bold energy moves — cancelling the Keystone XL pipeline, mothballing drilling/leasing/auctions on public lands, cancelling ANWR development, generally pissing on the leg of the energy sector — immediately upon taking office and they have had a negative impact on the price of energy and gasoline in particular.

 2. Inflation — under control for more than a decade — has now reared its ugly head. Even Clown Princess Yellen, Sec Treas, has conceded that inflation will more than double in the immediate future.

Just ponder that one thought — a new admin comes into office and in less than nine months more than doubles inflation and they act like it was a paper cut.

 3. The price of gasoline is a cost component in every product — COGS cost of good sold, for you bean counters — made or transported in America. Everything.

Here is what YOY inflation looks like right now:

As you can see, ENERGY is the skunk at the garden party. It is a component of both Transportation and Housing.

[My personal road trip experience is that gas is up more than 100%. I like to buy gas at Sams Club. I paid $1.52/gal in Tuscaloosa, Ala a year ago. Today, it is right at $3.00/gal.]

Continue reading →

10/15/21

And A Malaise Descended Upon The Land

Everywhere I look everybody is pissed off.

Likely, you are not old enough to have been an adult during the Carter administration when we had a similar malaise about energy and American impotence. Allow me to draw the parallels for y’all.

Violent extremists, domestic terrorists holding inflammatory signs at a School Board meeting. Can’t you just feel the criminal behavior? Don’t they look like desperate criminals? Let’s call the FBI on these unmasked desperadoes.

Continue reading →

10/13/21

Solving The Wrong Problem

Government at all levels often solves the wrong problem, is not very smart, is slow to act. Allow me to provide a vivid example.

Problem:

Shipping is backing up at West Coast ports with more than 100 ships awaiting unloading at ports like Long Beach and Los Angeles. This will negatively impact Christmas sales, the cost of transportation, and temporary holiday hiring.

Here is a recent graphic showing the status of Long Beach.

The yellow dots are ships waiting to unload.

Continue reading →

10/13/21

Civil Disobedience >>>>> Precursor To What?

The United States of America was created by leaders in the North American English Colonies rising in revolt against their English King who at that time commanded the largest and most lethal army and navy in the world. King George III started his reign as a popular king known for being able to speak to the “common man.”

King George III, the man who made the United States of America and never got the credit. Weird looking left hand?

Continue reading →

10/10/21

Hunter Biden, An Exclusive Interview With The Artiste

Today, your Big Red Car brings you the talented and mysterious artiste Hunter Biden who has agreed to sit down with us in his studio, take a break from his heavy painting and exhibition schedule, and chat about things.

The artiste Hunter Biden with some of his inspiring work in his studio which used to be his living room.

Hunter: Look, Big Red Car, a couple of ground rules first.

BRC: Sure, Hunter, what’s on your mind?

HB: No Ukraine, Buresma, drugs, hookers, private equity, no laptop baloney — deal? Art, only art, I’m a serious artiste. Notice I put an “e” on it. So, we good?

BRC: Sounds fair. Let’s dive into it. How long have you been a serious artist?

Continue reading →

09/29/21

Taxing Unrealized Capital Gains — A Truly Bad Idea

Washington DC provides stiff competition when it comes to stupid ideas related to policy, spending, and taxation as regular fare, but the idea to tax unrealized capital gains is a real doozie.

Secretary of the Treasury Janet Yellen explaining her taxation proposal, “Just give me and Joe all your money. You can trust us to be good stewards. We can spend it better than you.”

Continue reading →