Tag Archives: economics

That’s Their Goal

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The Progressive-Democratic Party is pushing bills in the House and Senate—the Consumer Fuel Price Gouging Prevention Act is the House version—that would attach price controls to gasoline sales. The Taxpayers Protection Alliance says, correctly, that such a move could lead to a return to the gas lines of the 1970s. That’s the period of then-President Richard Nixon’s (R) price control regime which he implemented in response to OPEC’s oil embargo against us.

But gasoline lines and limited supply of oil- and gas-based (and coal-based) energy are Party’s and President Joe Biden’s (D) purpose. Those are intended to drive us off hydrocarbon-based energy altogether in favor of the Left’s phantasmal “green energy” utopia.

Recall that Biden’s mentor and BFF, then-Presidential candidate Barack Obama (D) campaigned on a promise to apply regulations that would price coal plants completely out of business.

Recall that then-Presidential candidate Joe Biden (D) campaigned on a promise to end oil and gas production and force us onto solar- and wind-powered energy.

Recall that newly sworn President Joe Biden (D) canceled Keystone XL, a pipeline that would have brought 800,000 barrels of Canadian oil into the US for refining and supply. He then implemented Executive Orders and instructed his various Cabinet Departments to implement regulations that would severely inhibit domestic oil and gas production.

Recall that Biden still is having his Cabinets slow-walk leasing for oil and gas production on Federal lands, and is even slower-walking permits actually to do anything with those leases that are eventually granted.

What we have now is President Joe Biden (D) implementing his own oil embargo against us and his Party syndicate in Congress looking to tighten the embargo.

Typical of the Left

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And a measure of how radical and extreme our nation’s Left has become, is New York Governor Kathy Hochul’s (D) op-ed, wherein she advertised her State’s protection of the “right” to abortion as an inducement for businesses to return.

A couple of letter-writers in Wednesday’s Wall Street Journal Letters section are more accurate.

The humor in the governor’s invitation peaks with her description of the “freedom” and “respect” that New York offers its business communities. High tax, high cost, high crime—surely New York’s reputation speaks for itself? The joke may be on the governor.

But especially this:

New York’s Governor Hochul is angered at the possibility that her newborn granddaughter will inherit a “fight” to save abortion. Yet if she had taken advantage of Roe, her descendants would have avoided this fight simply because they would have ceased to exist. Ms Hochul is not fighting for her descendants to fall victim to abortion. She is fighting for yours to do so.

Don’t Let the Door…

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The Communist Party of China is instructing PRC senior government officials to not own foreign assets.

China’s Communist Party will block promotions for senior cadres whose spouses or children hold significant assets abroad, people familiar with the matter said, as Beijing seeks to insulate its top officials from the types of sanctions now being directed at Russia.
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Senior officials and members of their immediate families would also be barred from setting up accounts with overseas financial institutions unless they have legitimate reasons for doing so—such as study or work—the people said.

Now the CPC just needs to extend the directive to PRC business enterprises.

…hit you in the fanny on the way out.

Inflation Ain’t Joe Biden’s Fault

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Illustrated in two graphs. The first is the overall Producer-Price Index performance over the last 11 years.

The second breaks out services from goods, the latter absent food and energy.

Now certainly, in addition to the immediacy of expectations, there are lags of some weeks to months in our economy, and it can take time for policies to have impact.

Oh, wait—notice those periods before the current inflation began spiking: the PPI was declining through the year-and-a-half before President Joe Biden (D) won the election. The PPI began its sharp rise right after that on expectations of Biden’s policy implementations, and it continued unabated as those expectations were realized and began their material impact on our economy.

Look, too, at the steadiness of the PPI rise. Neither supply chain disruptions nor Putin’s war have had any impact on the inflation rise. Look again at the 18 moths preceding Biden’s election. The pandemic, too, is wholly irrelevant to this hard rise.

This round of inflation really is Joe Biden’s fault, no matter how deeply he ducks under his desk, or how many times he scurries off to Delaware to avoid facing us average Americans.

Because Housing Price Inflation Isn’t High Enough

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California State Senate Leader Toni Atkins (D) wants to exacerbate it with $10 billion more thrown at the State’s housing market to create even more buying demand for this supply-limited product.

Democratic State Senate Leader Toni Atkins on Wednesday unveiled details of a proposal she’s pushing to create a revolving fund that would provide interest-free loans for up to 30% of the purchase price of a home for low- and middle-income households.

Even spreading the money over 10 years would throw $1 billion per year at a housing market that’s already suffering enormous inflation—nearly 12% just since last August—due to the limited supply of houses for sale vs the burgeoning number of buyers, both institutional (viz., Blackrock) and individual.

That won’t add to the inflation of housing cost will it?