Virtue-Signaling in the Credit Card Market

Progressive-Democrat President Joe Biden is at it again, attempting to buy votes with another of his sham attempts to save us ordinary Americans money.

The Biden administration on Tuesday finalized a new rule to cap all credit card late fees at $8, a move that is expected to elicit fierce pushback from industry giants.

His Consumer Finance Protection Bureau

estimates the new regulation will save American families more than $10 billion in late fees annually by reducing the typical late fee of about $32. That amounts to an average saving of roughly $220 per year for the 45 million people who are charged late fees.

Stipulate for the moment that the CFPB actually has an accurate, fact-supported basis for its cost claims. Those fees help the banks recoup a significant fraction of the costs they incur when credit card holders are late on their payments. This restriction on cost recovery is only going to lead to tighter bank restrictions on who they’re willing to issue credit cards to.

How much money does Biden think will be saved by those who no longer can get credit cards, or by those whose cards are not renewed on the renewal date?

Biden really thinks we’re stupid enough to not see through his bread and circus shenanigans.

Well, NSS

The United Nations—all these months since the terrorist Hamas attacked Israel and butchered 1,400+ civilian men, women, and children, raping women and children(!)—has finally concluded

there are grounds to believe sexual violence, including rape, occurred during the October 7 attacks on Israel by Hamas and that there is clear and credible evidence that female hostages were raped.

Because the reports of the women who were raped and lived to tell the tale, or the men and women who were eyewitness to the rapes, weren’t enough in real time, either in their words or in the numbers of women saying those words.

The [UN’s] report said it didn’t have enough information to attribute the sexual violence and rape to Hamas or any other armed groups.

Yeah. Because it’s possible that, while the terrorist attacks were in progress, those rapes might have been committed by responding IDF soldiers, or by the rape victims’ fellow kibbutz members, or by the demons in the UN “report” writers’ fetid imaginations.

Just one more example of the broad anti-Israel ideology so deeply embedded in the United Nations.

Education and Needs

A couple of Letter writers in The Wall Street Journal‘s Sunday Letters section expressed concern for a high school student who was suspended for violating his school’s hair length rule.

The state shouldn’t prohibit haircuts of one type or another and suspend students from school for violating the policy unless it can really show this is needed.

And

Schools need to focus on teaching kids and not worrying about [clothing and grooming standards].

Among the needs and teaching focuses in high schools, and in lower schools, is personal discipline. Clothing and hair grooming rules are badly needed milieus for teaching that badly needed skill.

There’s plenty of time for students to dress as they wish and to grow and groom their hair as they wish after they’ve graduated and are looking for work.

Why Trump Remains on the Ballot

The US Supreme Court ruled Monday that former President and current Republican Primary Presidential candidate Donald Trump will remain on all of the relevant election ballots, overruling the Colorado State Supreme Court directly and Maine’s Secretary of State by extension. The Court’s reasoning is important. From the ruling’s second paragraph:

Because the Constitution makes Congress, rather than the States, responsible for enforcing Section 3 [of the 14th Amendment] against federal officeholders and candidates, we reverse.

The Court expanded on this, quoting Chief Justice Samuel Chase in his 1869 Griffin’s Case ruling:

[t]o accomplish this ascertainment [of which person[s] are explicitly barred under Section 3] and ensure effective results, proceedings, evidence, decisions, and enforcements of decisions, more or less formal, are indispensable.

The Supreme Court went on:

The Constitution empowers Congress to prescribe how those determinations should be made. The relevant provision is Section 5 [of the 14th Amendment], which enables Congress, subject of course to judicial review, to pass “appropriate legislation” to “enforce” the Fourteenth Amendment.

The Court concluded [emphasis in the original]:

We conclude that States may disqualify persons holding or attempting to hold state office. But States have no power under the Constitution to enforce Section 3 with respect to federal offices, especially the Presidency.

The three modern-day liberal/activist Justices, Sonya Sotomayor, Elena Kagan, and Ketanji Brown

Jackson, while concurring in the overall judgment that Trump stays on the ballot(s), were superficially Roberts-esque in their dissent from the sweeping nature of the Court’s ruling. They began by quoting from Dobbs v Jackson Women’s Health Organization:

If it is not necessary to decide more to dispose of a case, then it is necessary not to decide more.

But only superficially: they then wrote [citations omitted],

Today, the Court departs from that vital principle, deciding not just this case, but challenges that might arise in the future. … They decide novel constitutional questions to insulate this Court and petitioner from future controversy. Although only an individual State’s action is at issue here, the majority opines on which federal actors can enforce Section 3, and how they must do so. The majority announces that a disqualification for insurrection can occur only when Congress enacts a particular kind of legislation pursuant to Section 5 of the Fourteenth Amendment. In doing so, the majority shuts the door on other potential means of federal enforcement. We cannot join an opinion that decides momentous and difficult issues unnecessarily, and we therefore concur only in the judgment.

[S]huts the door on other potential means: This is the activist Justices’ desire to keep this controversy alive, to keep a Presidential candidate of whom they have only contempt facing a constant and long-lasting barrage of cases seeking nothing more than to interfere in our 2024 election by interfering with a major and leading (redundancy deliberate) political candidate’s ability to campaign freely. And thereby to deny to us ordinary Americans our ability, our right, to decide for ourselves who we will choose for our President. These Justices do this solely because they personally disapprove of the particular candidate.

 

The Court’s ruling can be read here.

The Next Step

It’s becoming necessary. I wrote yesterday about the need for tariffs on a variety of tech-oriented goods that the People’s Republic of China is heavily subsidizing for production and export.

It’s rapidly becoming necessary—if it hasn’t been for some time already—to take the next step vis-à-vis trade with the PRC.

Trade routes snaking through former Soviet republics Kazakhstan and Kyrgyzstan are among the many paths into Russia for so-called dual-use goods—singled out by the US and its allies because they can be used on the battlefield.
Despite their efforts, Central Asia is a growing pipeline for Russia, made possible by thousands of miles of open borders, opaque trade practices and opportunistic middlemen. The goods often originate in China, where they are manufactured in some cases by major US companies, which say the items are being imported by Russia without their permission.

Such goods include war-relevant items like computer chips, routers, and ball bearings used in tanks. These items are important for, if not critical to, the barbarian’s war machine and his war against Ukraine. A lot of these items are US products produced in the PRC for delivery to Western and other Asian customers. The PRC is redirecting much of that output to its “friend forever,” Russia.

It’s become time to take the next step: bar American companies that produce such dual-capable goods from producing them in the PRC or exporting them from other sources into the PRC market. The transition away to other production sources and supply chain pathways will be expensive, but not nearly so expensive as the barbarian overrunning and enslaving Ukraine, with sights on targets further west, and the PRC’s subsequent invasion of the Republic of China and closing off the East China Sea commerce lanes to Korea, Japan, and the US.