Daily Archives: 31 August 2022

Fascism

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President Joe Biden (D) infamously called half of Americans semi-fascists a few days ago.

Now California is creating a State government board that will dictate the wages that fast food companies in the State must pay.

California’s Legislature passed a bill Monday to create a government panel that would set wages for an estimated half-million fast food workers in the state….
The bill, known as the Fast Act, would establish a panel with members appointed by the governor and legislative leaders composed of workers, union representatives, employers and business advocates. They would set hourly wages of up to $22 for fast food workers starting next year and can increase them annually by the same rate as the consumer-price index, up to a maximum of 3.5%.

This is what true fascism is.

In a real dictionary, viz., American Heritage Dictionary or Merriam-Webster, socialism is a political-economic system in which Government directly owns the means of production—directly owns the businesses operating in an economy. Fascism is a subset of socialism wherein Government is pleased to allow businesses to be privately owned, but Government dictates to those businesses how they will operate: the products they will produce and in what quantity, and/or the prices they will charge for their products, and/or as in the present California case, what wages they will pay their employees—all to serve the State’s ends, not the business owners’ or investors’, who are us Americans. This government control, further, is paired with active, often violent, suppression of opposition to such controls.

In addition to that, Merriam-Webster also notes that in fascism, race often is “exalted” above the individual; American Heritage terms it belligerent racism. Much like the Progressive-Party adherents and supporters do today with their enthusiastic proselytizing of identity politics.

In the Newspeak dictionary of the Progressive-Democratic Party, though, “fascist” and “semi-fascist” are just shibboleths, personal smears, with which Party adherents and supporters insult all of us Americans rude enough to disagree with them. These tools of denigration are trotted out whenever Party adherents and supporters are unable to make coherent, reasoned arguments for their own policies and policy proposals or against anyone else’s policies or policy proposals.

Readers easily can discern which of these definitions are in play by Party adherents and supporters.

Plus Inflationary Effects

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Penn Wharton has updated its estimate of the cost to us average Americans of President Joe Biden’s (D) bailout of student loans, expanding its estimate to more than $1 trillion.

The largest potential cost-driver Penn Wharton identified is the Biden administration’s new income-driven repayment plan, which includes capping monthly student loan payments at 5% of a borrower’s discretionary income and reforming the repayment guidelines to guarantee that no borrower who makes “about the annual equivalent of a $15 minimum wage” will have to make monthly loan payments.

Others are touting the boon to our economy from all that freed-up spending those winners will be able to do, now that they don’t have to worry about paying debts.

In speaking from their Newspeak dictionary, though, the Progressive-Democratic Party politicians and their acolytes on the Left claim that that increased spending won’t add to the already burgeoning inflation our economy is afflicted with from supply disruptions and profligate spending (even for a Party administration) the Biden administration is throwing around.

Ignore what’s behind the curtain: the…intersection…of limited supply and increased spending that is inherently inflationary, especially in today’s economic environment, as anyone who’s had high school economics or who can understand a supply/demand graph knows.

Some on the Left piously intone that the bailed out students will use the opportunity to pay down the rest of their debts. Ignore what’s behind that other curtain, too, that the resulting increase in loanable funds held by financial institutions represents additional debt creation for the purchase of big-ticket items in the near- to intermediate-term supply-limited environment, which is inflationary in tomorrow’s and next week’s economic environment.