Tag Archives: economics

“Sanctions”

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That’s what US, Canada, Britain, and European Union politicians are claiming they’ll impose on the People’s Republic of China in response to PRC genocide efforts against the Uyghurs in the PRC’s Xinjiang Uygur Autonomous Region.

The sanctions are expected to vary in type, and will include Global Magnitsky economic sanctions on individuals alleged to be involved with the mistreatment of the Muslims in the Xinjiang region of China.

Among those sanctions are these which the US, Canada, the UK, and the EU already imposed last Monday to four (count ’em) PRC officials:

  • Zhu Hailun, former deputy Communist Party head in Xinjiang
  • Wang Junzheng, party secretary of the Xinjiang Production and Construction Corps
  • Wang Mingshan, member of the Xinjiang’s Communist Party standing committee
  • Chen Mingguo, director of the Xinjiang Public Security Bureau (PSB)
  • Xinjiang Public Security Bureau itself

Politico noted, interestingly, that the EU explicitly omitted to sanction the top Communist Party boss in Xinjiang, Chen Quanguo.

That’ll show them. We’re wagging our fingers very firmly at the PRC, and shortly we’ll be wagging our fingers even more vigorously.

Right.

What’s truly needful here is—at the minimum—a ban on import or even purchase of goods manufactured, including constituent parts, or assembled in Xinjiang or any business anywhere in the PRC with any sort of tie back to Xinjiang, and a parallel ban on doing any sort of business with a Xinjiang-associated enterprise.

Better would be to expand that list to include an ever broadening set of imports from or exports to the PRC until that nation provides publicly available and publicly verifiable proof that the PRC has put an end to its assault on the Uyghurs.

Fat chance, though, as the politicians of the four nations have shown themselves too timid to do more

Minimum Wage and “Must Pass” Bills

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Congressional Progressive-Democrats are looking for ways to pass a national minimum wage law through Congress.

Progressive House Democrats are rapidly searching for ways to revive the $15 minimum wage increase after a stinging loss in the passage of President Biden’s $1.9 trillion coronavirus stimulus law.

Congressman Mark Pocan (D, WI):

We will get at least 50 votes in the Senate, and we will find a way to finally do what Congress has been negligent to ask for too long; whether it’s adding it to a must-pass bill or pushing it around those arcane Senate rules or some other measure, America will get the raise that is long overdue that we are committed to[.]

Along strictly Party lines and/or by being buried in a bill that Congress and the President will decide the nation can’t exist without.

Not that anyone in the Progressive-Democratic Party cares about bipartisanship. Here’s Congresswoman Ilhan Omar (D, MN):

We should not allow any obstacles to get in our way as we push for this policy. It’s imperative that we explore every avenue, every strategy, that will allow us to push through[.]

And here’s the utter contempt for those ordinary Americans who run the small and mom-and-pop businesses that will be most damaged by a nationally mandated minimum wage. Congressman Donald Norcross (D, NJ), Co-Chair of the Progressive-Democrats’ Congressional Labor Caucus insists that:

small business owners opposed to a $15 minimum wage hike are crying “crocodile tears,” arguing that “they should be happy because it levels the playing field with competition; across the street will be paying the same thing….

Yeah—those whiners should be satisfied that all of them are being equally damaged. Never mind that they aren’t only competing against those “across the street;” they’re also competing against the major businesses and chains—who can handle a mandated increase in wage.

But hey—the Progressive-Democrat knows far better, from the august heights of his Beltway bubble, than do actual business owners and operators what the situation is on the ground.

There’s a hint buried in there, though, somewhere. If the concept of a Federally mandated minimum wage can’t pass through Congress as a stand-alone bill, maybe it’s just barely possible that a Federally mandated minimum wage is a terrible idea, a bad law, and something that us Americans—and us actual business owners—don’t want.

Earmarks

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Progressive-Democrats in Congress are moving to bring these back. On this, I tend to agree.

Go ahead and do earmarks; they can be useful horse-trading tools. Just set aside 1% of the budget, the rough amount historically spent on them, as a separate line item.

Then require all earmarks in their aggregate to fit within that 1%, and require each earmark to be individually debated on the record and on the floor of the House and the Senate.

Let the public see, up front, what their tax dollars are paying for, and let the particular constituents see how effective their Congressman and Senator really are in representing them in each Congressional session.

The Biden Panic-Mongering

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In a Wall Street Journal article about the European Union’s failure to deal with its Wuhan Virus situation in any serious way, there are a couple of graphs that bear on our own situation. The first one concerns the number of confirmed Wuhan Virus cases (which is much less than the number of actual infections).

Notice that. At our worst, there were only some 75 cases per 100,000 people, a roughly 0.075% case rate in our population. (The EU was much better at that time, more on that below.)

The second graph concerns our Wuhan Virus mortality rate.

Notice that: at our worst, our mortality rate was around 1.5 per 100,000, a roughly 0.0015% mortality rate in our population. A back-of-the-envelope bit of arithmetic indicates a roughly 0.02% mortality rate given a confirmed case (and even lower given an actual infection). (Here, too, the EU fared better.)

This is the exaggeration of the Biden administration—and of the Progressive-Democrats in Congress—regarding our virus situation.

It’s time to throw off the chains (to use a term of art) of overreaching government and go back to going about our normal daily business.

No more lockdowns. Businesses full open, workers back to work, out of work workers freely able to find work, consumers freely able to consume.

Children back in school in person, K-12 sports and other extra-curricular activities back in full swing, teachers who continue to refuse to go back to in-person teaching fired for cause (which would open up some jobs for actual teachers).

So it is, in the EU. Despite the EU’s incompetence in vaccinating, its case rate and its mortality rate are vanishingly small. Quite apart from the EU’s and its constituent nations’ governing personages needing to get off their dead behinds and get the vaccinations rolling, they need simply to open up and let their citizens’ lives return to normal.

No more excuses.

The Wuhan Virus “Relief” Bill

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…that the Progressive-Democrats rammed through on strictly Party lines (after President Joe Biden (D) so piously promised bipartisanship and the Progressive-Democrat Senator from West Virginia, Joe Manchin, so loudly proclaimed that he would not support any bill that did not have input and support “from my Republican friends”): it was prosyletized by Congressional Progressive-Democrats as desperately needed to revive our sagging, struggling economy.

Here’s how badly our economy was sagging and struggling:

Household net worth—the difference between assets and liabilities—ended the fourth quarter at $130.2 trillion, the Federal Reserve said Thursday. That was up 5.6% from the third quarter and 10% from the end of 2019.

That fourth quarter value is the highest household wealth level on record.

Struggling. More Progressive-Democrat newspeak.