Inflation and Government Spending

The Federal Reserve Board of Governors held their annual symposium in Jackson Hole, Wyoming last week. The symposium is a meeting of the Federal Reserve along with leading economists and others who can weigh in on the state of the US economy.

A reported clear consensus by the attendees was that huge spending by governments exacerbates the problem. One study presented at Jackson Hole argues that half of U.S. inflation is fiscally driven, meaning that government spending is driving at least half of the increase in prices, and the Fed will fail to control prices without government cooperation.

President Biden’s answer? Spend more, first pumping hundreds of billions of dollars more into the economy with the climate stimulus bill and hundreds of billions, in addition to that, by giving money for outstanding student loans, both just in the past month.

No Such Thing As Loan ‘Forgiveness’

To be clear, there is no such thing as ‘student debt forgiveness’. There is only ‘student debt transfer’.

The money has been loaned and spent. You can only transfer the debt from those who took out the loan to people who did not take out the loan.

And as an aside, Mr. President, your income guidelines say that any one individual earning up to $125,000/year is eligible to not have pay their student loans. If someone is making $125,000 they can certainly pay off their own loans and they do not need others to do it for them.

Racism By Any Other Name…

The Minneapolis School District announced the method by which they will terminate teachers, should that become necessary. How will they do that, you ask? By seniority or tenure? By performance? No, white teachers will be terminated first.

You read that correctly. Race will be the primary determining factor.

The ‘justification’ given is that the District is trying to protect ‘underrepresented groups’. Yet by doing so, they are making decisions solely based on race, which is the literal definition of racism! To say nothing of the fact that students will be suffering if decisions are not based on performance.

Clearly, in Minneapolis, helping young students is not the most important thing for the School Board.

Politics: Trump and the GOP (Part 1 of a Series)

Donald Trump still has a lot of influence in the Republican Party. Never one to not take advantage of his assets, he has weighed in heavily on Republican primaries for this fall’s mid-term elections. Although results have been mixed, his endorsed candidates have won in several key states that will be battlegrounds this fall and will likely determine control of the US Senate.

Continue reading “Politics: Trump and the GOP (Part 1 of a Series)”

Inflation Continues to Hit Poor Hardest

The latest inflation report shows that low income households are continuing to be hardest hit.

The report, released by the Federal government, showed that inflation moderated driven by a decrease in the price of gas. The cost of food, however, went up by 13.6% from the previous year. Food, of course, is not something you can do without and so even the people who can afford it least are affected but can do nothing about it.

As any economist will tell you, inflation has the effect of being a regressive tax, hitting the lowest income households or those on fixed incomes the hardest. Judging by policies of the current Administration, they just do not seem to care.

Trump Spaghetti

Trump: On whether the Justice Dept. should be allowed to release the details of the search warrant served on him, Trump said he supported the “immediate release” of the records, and then posted on Truth Social: “Release the documents now!”

Also Trump: Had copies of the search warrants, as required by law to be given to him, and could have released them any time but did not.

Trump:  “The FBI planted documents that they seized from my house at Mar-al-Lago.”

Also Trump: “I already de-classified the documents the FBI seized.”

You had already de-classified the documents they planted?

Trump: (in a response, signed by his lawyer, to a request for classified documents in his possession) “There are no more classified documents in my possession.”

Also Trump: I already de-classified the documents the FBI seized.”

Wait, what?…you de-classified the documents that you said you didn’t have?

Trump: “Lock her up,” as he led crowds in chanting when talking about Hillary’s using unsecure phone and email to transfer classified document and, later, as he signed a law making it a felony to have possession of such and barring anyone convicted of ever holding office again.

Also Trump: “The search for classified information was a political hit job.”

Trump Keeps Trump From Running?

News notes of just crazy irony…

…the FBI search of Donald Trump’s residence at Mar-al-Lago was directed by an FBI Director that he nominated, saying “He will make us all proud…we will have great FBI Director.”

More, one of the laws that Trump is being investigated over is one that he signed into law in January 2018. In response to Hillary’s mishandling classified information, then President Trump signed into law a measure to make it a felony to unlawfully retain or conceal any classified information. AND that law also said that any person convicted would be removed from office and be “disqualified from holding any office under the United States.”

Continue reading “Trump Keeps Trump From Running?”
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