We have had it good here in America for a long time. Pre-pandemic we had the strongest economy since before the American Revolution.
Then, the pandemic upset the apple cart, but we always thought it would return to some sense of normal and that normal was good, very good.
Do y’all recall when inflation was “transitory?” When the Secretary of the Treasury and the POTUS used to assure us that inflation was going to come and go? That the target would continue to be 2% – which, in fact, it had been?
Well it’s more than a year later and, clearly, that is not going to happen. In fact, we are in this inflationary spiral for the long term — meaning three years until there is any relief.
Let’s review the bidding to see how we got here, shall we?
This chart is not lying to you. Study it.
President Biden announced he is unilaterally — meaning without the joinder of Congress which is supposed to control the Federal purse — forgiving college loan debt of $10-20,000 (Pell Grants) for individuals making up to $125,000 or families making up to $250,000.
The Committee for a Responsible Budget scores this Executive Order as costing somewhere between $440B to $600B.
There has been both a huge outcry against and for this policy. Here are some thoughts.
1. Total college loan debt is more than $1,750,000,000,000 – that is $1.75T. This is bigger than credit card debt in the US. Hello, America!
Credit card debt is about $850,000,000,000 — $850B — versus college loan debt of $1.75T.
Total auto loan debt in US is $1.45T. Continue reading
Ten minutes ago, the Bureau of Labor Statistics released its Producer Price Index numbers for April 2022 – this is, of course, a month in arrears. The print was 11% meaning the cost of final demand goods from producers was up 11% when compared to April 2021.
These are Jimmy Carter numbers.
This is the fifth month in a row in which the annualized increase was double digits — again, when compared to a year earlier. Continue reading
It is the year 2022 and the world is faced with the prospect of a powerful nuclear armed country, Russia, invading its sovereign smaller neighbor, Ukraine, based solely on the complaint that its neighbor does not seek any current or future affiliation with the Communist nation of Russia.
The instigator, the rapist, is the Thug Putin who advances the quaint notion that his desire to be surrounded by friendly nations is sufficient justification for him to rape Ukraine — to unleash a modern army equipped with missiles, cyber weapons, air power, naval power, a massive armored army, infantry, tanks, artillery on a peaceful nation that seeks only to live in peace while sharing a border with Russia.
The world has responded to this with the seriousness of a bad Tinder first date story.
The seal of the Commonwealth of Virginia depicts the Roman goddess Virtue prevailing with sword and staff over the defeated tyrant with his chain, whip, and fallen crown. The vanquished tyrant is the British King after the American Revolution.
Sic Semper Tyrannis means “thus always to tyrants.” Continue reading
As you are undoubtedly aware, 83-year-old Supreme Court Justice Stephen Breyer has finally succumbed to pressure from the White House, the Dems, and the progressives and has resigned his SCOTUS seat. He was a dyed in the wool liberal and it is likely he will be replaced by a more liberal Justice.
“Wow, these people can be nasty. I had my choice of either dying or resigning. Boom!”
The same morons who masterminded the disastrous withdrawal of US personnel and forces from Afghanistan after the US trained and equipped 350,000 man Afghan National Army was routed by 30,000 Taliban are getting ready to involve the United States in another tinderbox potential shooting war situation.
Three masked men discussing the future of Ukraine. “General Milley, have you figured out that whole white rage thing? Is our Army up to speed on its pronouns?”
In college baseball if a team is leading by 10 runs at the beginning of the 7th inning, the Mercy Rule can be applied and the game terminated.
It is intended to spare the losing team of an embarrassing conclusion.
Do we need a Mercy Rule in politics? I think we do.
“Hmmm, the Mercy Rule? Might not be a bad idea.”
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