Category Archives: markets

Lies of Progressive-Democrats

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Here’s another example.

Colorado’s Office of Economic Development and International Trade, plans to hand out Wuhan Virus relief funds (which the State styles “COVID-19” relief funds) to businesses based on the race of the business’ owners. Stephen Collins, Resort Meeting Source owner and represented by the Pacific Legal Foundation, is suing the State over that.

Federal Judge William Martinez issued a temporary restraining order barring the OEDIT from acting on the discriminatory release of funds pending final adjudication of the matter in his court.

[H]e found that Collins was likely to prevail in the lawsuit because the Colorado law at issue “expressly requires OEDIT to prioritize minority-owned businesses in distributing grants under the Disproportionately Impacted Business Grant Program” and because “the process for qualifying as a disproportionately impacted business differs for minority-owned and non-minority-owned businesses.”

The lie(s):

OEDIT…forward[ed] two legal documents to Fox News. The office filed a motion to dismiss the lawsuit on Wednesday, claiming that “race played no role in OEDIT’s funding decisions.”
OEDIT also filed a declaration from Michael Landes, director of OEDIT’s Opportunity Zone Program. Landes claimed that racial preferences will only come into account after all other criteria have been adjudicated.

[R]ace played no role—OEDIT is calling the judge a liar, or OEDIT is violating the State’s law requiring exactly that.

[R]acial preferences will only come into account after….  Landes calls himself a liar: either race played no role or it played a role after all other criteria. Landes calls himself a liar a second time: racial preferences will only come into account after—either racial preferences are being acted on, or they are not. When they’re being acted on doesn’t matter.

Dismissive Disingenuousness

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Recall that some Alaskan-harvested fish, 26 million pounds of them, had been stranded in eastern Canada, just a few hundred yards from American fish-processing plants, because President Joe Biden’s (D) Customs and Border Protection managers threatened $41 million in penalties on fish handlers if those fish moved down a 100 yard railroad line into Maine, as the Jones Act explicitly allows.

Biden’s CBP managers decided that those 100 yards didn’t satisfy the Act (or Biden’s and those managers’ whims) after decades of the ride having been entirely satisfactory.

Federal Judge Sharon Gleason issued a temporary injunction against those and any further CBP penalties, allowing the fish to move.

What’s telling about this incident, though, is this statement that the Biden-Harris administration argued in court [emphasis added]:

…an injunction wasn’t needed, because food supply chains had already begun to adjust. “Within days of CBP issuing notices of penalties in this matter the movement of Russian-origin frozen seafood from the Bayside facility began.”

Maybe this isn’t dismissiveness or disingenuousness. Maybe it’s more of the Progressive-Democratic Party’s collusion with Russia.

Anti-Business Anti-Freedom Left Strikes Again

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Their latest assault comes from left-of-the-west-coast Los Angeles.

The city of Los Angeles will begin requiring most people to provide proof of full COVID-19 vaccination before entering a wide variety of indoor businesses including salons, restaurants, gyms, museums, and theaters.

Alternatively, those with medical conditions that do not allow them to be vaccinated, or those with sincerely held religious beliefs that prevent them from being vaccinated, will be allowed to enter on presentment of a negative Wuhan Virus test done within the prior 72 hours (whose definition of “sincerely held?”). Never mind that the cost of such a test starts at $20 and that the median cost is $127. And you thought the costs at the theater concession counter were high. How’s that blowout or updo at the salon sound now? The testing requirement looks like it’s going to swamp that dinner out you thought you were going to enjoy with the family.

Notice, too, that many—most?—of the businesses in these categories are small businesses, mom-and-pop businesses, low margin businesses.

This isn’t only an assault on American businesses and American business owners, though: it’s also an assault on Americans qua Americans.

It’s a demand that we citizens give up our medical privacy and proclaim to the world what our medical status is, using only the Wuhan Virus situation—which is on the wane—as an initial step to expose all of our medical privacy.

It’s more than that, even. This vaccine mandate, and others like it, are a demand that we citizens give up an essential liberty—a liberty over which we’ve already fought one civil war—our control over our own bodies. It’s an essential liberty that the Left and its Progressive-Democratic Party are trying to take away from all of us this time, not just a minority which they held and hold in contempt.

PRC Pyramids

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The Egyptians invested in pyramids, but those were concrete, physical edifices that satisfied then-national needs.

The People’s Republic of China and its builders invested in a different sort of pyramid, and those ephemeralities are fading into the mists at great cost to the suckers investors.

First, it was the PRC’s Evergrande, with its serial defaulting on its debt obligations. Now it’s the PRC’s Fantasia, reneging on $US206 million worth of its own bonds. It seems likely that others of the PRC’s builders will follow, unless the PRC government men decide to interfere and require different outcomes, regardless of economic and fiscal reality.

I mentioned pyramids. These builders finance their future operations in very large part by selling apartments before they’re even built. That puts their borrowings at risk, unless they can come up with more money—which they do in large party by selling yet more unbuilt apartments.

Bernie Madoff, if not exactly a piker in comparison, certainly didn’t accomplish this much.

“Unfair and Absurd”

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President Joe Biden (D), through his Press Secretary Jen Psaki (via her daily press conference), said that it’s unfair and absurd that businesses should pass on to their customers the costs represented by higher taxes that Biden and his fellow Progressive-Democrats want to impose on them.

There are some…who argue that, in the past, companies have passed on these [tax] costs to consumers. … We feel that that’s unfair and absurd, and the American people would not stand for that.

Why shouldn’t businesses pass on the costs represented by taxes?

Biden’s claim raises additional questions, too. What other costs does Biden consider unfair and absurd for businesses to pass on to their customers? What is Biden’s limiting principle regarding passing costs on to customers?