Miscellaneous news items that don't warrant their own thread

[GannonFan]

Everyone except for the consumer. Again, don't let inflation get out of hand in the first place (i.e. rampant and sudden increase in government spending, giving a shock to the supply of money) and none of this happens. Predictable, stable, and low inflation is and has always been the goal of the Fed (at least in modern times). When they take their eye off the ball and go hand in hand with feel good handouts of money with a willing Executive branch (and a Congress to sign off) then we get what we got - self-inflicted inflationary excess that we're still climbing out of now.

The Fed was first created was to avert banking panics which can be caused by several things, Covid being an example of one of them. Was the spigot left on too long? Perhaps. But not before further wealth concentration and inflated profits were had.

Perhaps = Not a shadow of a doubt

[BDKJMU]

Fully electric cars are not there yet, technology-wise and by all the support systems (i.e. charging stations, electrical power grid, range, weather reliability, raw materials, etc) to be fully adopted over gas powered cars. No wishful thinking or "moon-shot" political gimmick will make it so. People are working on it, it's just a really big thing to get done on the scale we're talking about doing it. Landing on the moon was basically getting 3 guys there (well, 2 on the moon itself), a handful of times. Getting 350 million Americans to be able to swap gas powered cars for electric vehicles is a bigger challenge. It'll happen, just not by 2030.

In the meantime, hybrids are good options.

Sure hybrid. But there was never much natural demand for EVs. Instead it was a product being forced upon the consumer, subsidized with taxpayer money, all to combat a lie called "climate change".

Electric cars release more toxic emissions than petrol-powered vehicles and are worse for the environment
EVs weigh 30 percent more than petrol cars, causing tyres to wear out faster
The tire tread releases toxic particles 400 times greater than exhaust emissions

The study, which was published in 2022 but has begun circulating again after being cited in a WSJ op-ed, found that brakes and tyres release 1,850 times more particulate matter compared to modern exhaust pipes which have filters that reduce emissions.

It found that EVs are 30 percent heavier on average than petrol-powered vehicles, which causes the brakes and tyre treads to wear out faster than standard cars and releases tiny, often toxic particles into the atmosphere….

https://www.msn.com/en-gb/cars/news/ele ... r-BB1jk7KT

[kalm]

The Fed was first created was to avert banking panics which can be caused by several things, Covid being an example of one of them. Was the spigot left on too long? Perhaps. But not before further wealth concentration and inflated profits were had.

Perhaps? Try definitely.

Not all of the inflated profits were intentional. Companies raised prices based on their costs at the time and what they estimated they would be after inflation continued to rise. Some estimated high on accident and others took advantage of the situation.

If the government hadn't opened the spigot to many times the reasons behind price increases would have been more transparent.

Economics is a soft science from what I’ve been repeatedly told. So yes, perhaps.

When should the free money have ended? What would have happened to rent payments, home ownership, small businesses, the greater economy?

Like I mentioned earlier, inflation hasn’t seemed to hurt corporate profits. If it’s all the fault of Biden and free money, than those policies are good for the investor class and CEO’s.

The remarks of the Iron Mountain executives go straight to the question of who in the U.S. will pay to bring down the current high rates of inflation. Jerome Powell, the chair of the Federal Reserve, said straightforwardly in May that his goal was “to get wages down and then get inflation down.” In other words, Powell wants regular workers to make less money, which would lower labor costs for businesses, which presumably then would not raise prices as much as they have over the past several years.

The degree to which corporate profits have contributed to prices going up, and what to do about it, has been discussed by some Democrats in Congress and the Biden administration. Last year, President Joe Biden accused oil and gas companies of “anti-consumer behavior,” citing the fact that the two largest companies “are on track to nearly double their net income over 2019.” In May, Democrats introduced legislation to prohibit price gouging by authorizing the Federal Trade Commission and state attorneys general to enforce a federal ban on excessive price increases. But the general subject has only gotten modest traction in the media.


Almost every news story on inflation has pointed out that inflation is now at its highest rate in 40 years. Far less emphasis has been placed on the fact that corporate profits are currently at their highest rate in 72 years. The after-tax profits of nonfinancial corporations averaged about 5 percent of the U.S. gross domestic product from 1950 until 1980. They then dropped until shooting upward again during the 2000s. Currently they stand at above 8 percent of GDP. The 3 percentage point difference between 8 percent and the 5 percent average of the past constitutes over $600 billion a year that otherwise could go to workers or reduced prices.

https://theintercept.com/2022/09/28/inf ... -mountain/

[GannonFan]

Perhaps? Try definitely.

Not all of the inflated profits were intentional. Companies raised prices based on their costs at the time and what they estimated they would be after inflation continued to rise. Some estimated high on accident and others took advantage of the situation.

If the government hadn't opened the spigot to many times the reasons behind price increases would have been more transparent.

Economics is a soft science from what I’ve been repeatedly told. So yes, perhaps.

When should the free money have ended? What would have happened to rent payments, home ownership, small businesses, the greater economy?

Like I mentioned earlier, inflation hasn’t seemed to hurt corporate profits. If it’s all the fault of Biden and free money, than those policies are good for the investor class and CEO’s.

The remarks of the Iron Mountain executives go straight to the question of who in the U.S. will pay to bring down the current high rates of inflation. Jerome Powell, the chair of the Federal Reserve, said straightforwardly in May that his goal was “to get wages down and then get inflation down.” In other words, Powell wants regular workers to make less money, which would lower labor costs for businesses, which presumably then would not raise prices as much as they have over the past several years.

The degree to which corporate profits have contributed to prices going up, and what to do about it, has been discussed by some Democrats in Congress and the Biden administration. Last year, President Joe Biden accused oil and gas companies of “anti-consumer behavior,” citing the fact that the two largest companies “are on track to nearly double their net income over 2019.” In May, Democrats introduced legislation to prohibit price gouging by authorizing the Federal Trade Commission and state attorneys general to enforce a federal ban on excessive price increases. But the general subject has only gotten modest traction in the media.


Almost every news story on inflation has pointed out that inflation is now at its highest rate in 40 years. Far less emphasis has been placed on the fact that corporate profits are currently at their highest rate in 72 years. The after-tax profits of nonfinancial corporations averaged about 5 percent of the U.S. gross domestic product from 1950 until 1980. They then dropped until shooting upward again during the 2000s. Currently they stand at above 8 percent of GDP. The 3 percentage point difference between 8 percent and the 5 percent average of the past constitutes over $600 billion a year that otherwise could go to workers or reduced prices.

https://theintercept.com/2022/09/28/inf ... -mountain/

Again, don't let inflation get out of hand in the first place (i.e. massive amounts of unnecessary government spending in a very short period of time, as Biden did at the start of his term - aka Modern Monetary Theory in practice) and you don't end up with wages being left behind as they were when prices and profits increased. Trying to claw that back with the FTC or state attorney's deciding on how much things should cost industry by industry would just be doubling down on dumb economic policies. Inflation has calmed down, because government stopped printing so much extra money to spend. Don't screw it up again is the best policy moving forward.

[kalm]

Economics is a soft science from what I’ve been repeatedly told. So yes, perhaps.

When should the free money have ended? What would have happened to rent payments, home ownership, small businesses, the greater economy?

Like I mentioned earlier, inflation hasn’t seemed to hurt corporate profits. If it’s all the fault of Biden and free money, than those policies are good for the investor class and CEO’s.



https://theintercept.com/2022/09/28/inf ... -mountain/

Again, don't let inflation get out of hand in the first place (i.e. massive amounts of unnecessary government spending in a very short period of time, as Biden did at the start of his term - aka Modern Monetary Theory in practice) and you don't end up with wages being left behind as they were when prices and profits increased. Trying to claw that back with the FTC or state attorney's deciding on how much things should cost industry by industry would just be doubling down on dumb economic policies. Inflation has calmed down, because government stopped printing so much extra money to spend. Don't screw it up again is the best policy moving forward.

Right. Volker had to kill it through dramatically raising rates. Monetary policy played some portion of the role for its rise in the 1970’s as well. And there were of course other causes. Volker’s action worked and we came out of It in a few years.

Look, I’m not a MMT fan either. I’m just pointing out that no-one wants to take a haircut during hardships and some actually profit from economic hardship based both on MMT and greed.

Heck you can even blame the greed of labor and home ownership for some of it. But those lack the influence and political power of finance and large corporations.

I still believe that we’re at our very best with policies that support a strong middle class and less consolidation of industries.

[GannonFan]

Again, don't let inflation get out of hand in the first place (i.e. massive amounts of unnecessary government spending in a very short period of time, as Biden did at the start of his term - aka Modern Monetary Theory in practice) and you don't end up with wages being left behind as they were when prices and profits increased. Trying to claw that back with the FTC or state attorney's deciding on how much things should cost industry by industry would just be doubling down on dumb economic policies. Inflation has calmed down, because government stopped printing so much extra money to spend. Don't screw it up again is the best policy moving forward.

Right. Volker had to kill it through dramatically raising rates. Monetary policy played some portion of the role for its rise in the 1970’s as well. And there were of course other causes. Volker’s action worked and we came out of It in a few years.

Look, I’m not a MMT fan either. I’m just pointing out that no-one wants to take a haircut during hardships and some actually profit from economic hardship based both on MMT and greed.

Heck you can even blame the greed of labor and home ownership for some of it. But those lack the influence and political power of finance and large corporations.

I still believe that we’re at our very best with policies that support a strong middle class and less consolidation of industries.

Inflation, at its core, is always a money supply issue. There's been different paths to this in the past. The most recent spike in inflation, however, was simply the cause of Biden's opening of the money spigots when he came into office while the Fed stood still. It's really that simple. This was one of the most clearly self-inflicted shoot-ourselves-in-the-foot we've done in quite some time, and many people were loudly predicting this would come to pass if we continued down the MMT path. But the whole "don't let a good crisis go to pass" thing clouded the thinking. And sure, the more sophisticated actors in the economy can profit from such government missteps, but they couldn't have done so if government didn't mess up in the first place.

[kalm]

Right. Volker had to kill it through dramatically raising rates. Monetary policy played some portion of the role for its rise in the 1970’s as well. And there were of course other causes. Volker’s action worked and we came out of It in a few years.

Look, I’m not a MMT fan either. I’m just pointing out that no-one wants to take a haircut during hardships and some actually profit from economic hardship based both on MMT and greed.

Heck you can even blame the greed of labor and home ownership for some of it. But those lack the influence and political power of finance and large corporations.

I still believe that we’re at our very best with policies that support a strong middle class and less consolidation of industries.

Inflation, at its core, is always a money supply issue. There's been different paths to this in the past. The most recent spike in inflation, however, was simply the cause of Biden's opening of the money spigots when he came into office while the Fed stood still. It's really that simple. This was one of the most clearly self-inflicted shoot-ourselves-in-the-foot we've done in quite some time, and many people were loudly predicting this would come to pass if we continued down the MMT path. But the whole "don't let a good crisis go to pass" thing clouded the thinking. And sure, the more sophisticated actors in the economy can profit from such government missteps, but they couldn't have done so if government didn't mess up in the first place.

So what would the economy have been like if Biden and Congress hadn’t?

[GannonFan]

Inflation, at its core, is always a money supply issue. There's been different paths to this in the past. The most recent spike in inflation, however, was simply the cause of Biden's opening of the money spigots when he came into office while the Fed stood still. It's really that simple. This was one of the most clearly self-inflicted shoot-ourselves-in-the-foot we've done in quite some time, and many people were loudly predicting this would come to pass if we continued down the MMT path. But the whole "don't let a good crisis go to pass" thing clouded the thinking. And sure, the more sophisticated actors in the economy can profit from such government missteps, but they couldn't have done so if government didn't mess up in the first place.

So what would the economy have been like if Biden and Congress hadn’t?

The spike in inflation either wouldn't have existed or would have been far smaller. The economy was already heating up coming out of COVID, everyone knew it. Biden's spending was the gasoline being poured on an existing fire. The basics of the economy were fine - we just turned the switch off because of COVID. When we turned it back on, the basics were still good. It was like a pause button, not a kill switch.

[Caribbean Hen]

35 Trillion and counting … some say it doesn’t matter…. Hmmm it will matter some day

Janet is still paying like 5.3 % on a 28 day loan

[Caribbean Hen]

Volker wouldn’t be allowed to do what was necessary back in 1980 today…. That’s because we’re a Banana Republic now and politics is much more important than getting things write

Kalm, sounds like you’re quoting some secrets from the Jeykle Island club only you weren’t invited

[GannonFan]

That’s because we’re a Banana Republic now and politics is much more important than getting things write

Irony.

[BDKJMU]

Victory for equality in America.

US judge bars federal minority-business agency from considering race

- A federal judge in Texas has barred a government agency within the U.S. Department of Commerce tasked with providing assistance to minority-owned businesses from turning away applicants based on race.

U.S. District Judge Mark Pittman, an appointee of Republican former President Donald Trump in Fort Worth, in a Tuesday ruling sided with a group of white entrepreneurs in finding that the Minority Business Development Agency's (MBDA) preferential treatment of non-white entrepreneurs is unconstitutional.

The judge based that conclusion partly on the U.S. Supreme Court's landmark decision in June declaring race-conscious college admissions policies designed to boost enrollment of underrepresented minorities on campus unlawful.

He said that ruling made clear that race-based government action could only be justified under the U.S. Constitution for the limited purpose of addressing specific, identified instances of illegal discrimination.…

…..
https://www.msn.com/en-us/news/other/us ... r-BB1jrQPi

[UNI88]

Victory for equality in America.

US judge bars federal minority-business agency from considering race

- A federal judge in Texas has barred a government agency within the U.S. Department of Commerce tasked with providing assistance to minority-owned businesses from turning away applicants based on race.

U.S. District Judge Mark Pittman, an appointee of Republican former President Donald Trump in Fort Worth, in a Tuesday ruling sided with a group of white entrepreneurs in finding that the Minority Business Development Agency's (MBDA) preferential treatment of non-white entrepreneurs is unconstitutional.

The judge based that conclusion partly on the U.S. Supreme Court's landmark decision in June declaring race-conscious college admissions policies designed to boost enrollment of underrepresented minorities on campus unlawful.

He said that ruling made clear that race-based government action could only be justified under the U.S. Constitution for the limited purpose of addressing specific, identified instances of illegal discrimination.…

…..
https://www.msn.com/en-us/news/other/us ... r-BB1jrQPi

200+ years of preferential treatment for white people and businesses. When the tables turned, they suddenly become equal treatment for all crusaders who don't want to address the reality that 200+ years of inequality have put minorities at a disadvantage when it comes to generational wealth and the ability to start a successful business.

[BDKJMU]

Victory for equality in America.

…..
https://www.msn.com/en-us/news/other/us ... r-BB1jrQPi

200+ years of preferential treatment for white people and businesses. When the tables turned, they suddenly become equal treatment for all crusaders who don't want to address the reality that 200+ years of inequality have put minorities at a disadvantage when it comes to generational wealth and the ability to start a successful business.

The way to way discrimination on the basis of race, is to stop discriminating on the basis of race. The agency should give equal preferences to all races, or none at all.

[UNI88]

200+ years of preferential treatment for white people and businesses. When the tables turned, they suddenly become equal treatment for all crusaders who don't want to address the reality that 200+ years of inequality have put minorities at a disadvantage when it comes to generational wealth and the ability to start a successful business.

The way to way discrimination on the basis of race, is to stop discriminating on the basis of race. The agency should give equal preferences to all races, or none at all.

I don't completely disagree with you because I think if we give racial preferences without an end date then we're just creating future victims. I do not think it is fair to just say things are equal now and we're just going to pretend 200+ years of oppression didn't happen. It would benefit society to help African Americans climb out of the poverty and ghettos that we've put them in with racist policies and customs.

[BDKJMU]

The way to way discrimination on the basis of race, is to stop discriminating on the basis of race. The agency should give equal preferences to all races, or none at all.

I don't completely disagree with you because I think if we give racial preferences without an end date then we're just creating future victims. I do not think it is fair to just say things are equal now and we're just going to pretend 200+ years of oppression didn't happen. It would benefit society to help African Americans climb out of the poverty and ghettos that we've put them in with racist policies and customs.

Well, the agency was created in 1969. So 55 years, basically 2 generations, is more than enough time to be giving preferences based on race. And wasn’t just blacks getting them. The only ones who weren’t were (non Hispanic) whites.

[UNI88]

I don't completely disagree with you because I think if we give racial preferences without an end date then we're just creating future victims. I do not think it is fair to just say things are equal now and we're just going to pretend 200+ years of oppression didn't happen. It would benefit society to help African Americans climb out of the poverty and ghettos that we've put them in with racist policies and customs.

Well, the agency was created in 1969. So 55 years, basically 2 generations, is more than enough time to be giving preferences based on race. And wasn’t just blacks getting them. The only ones who weren’t were (non Hispanic) whites.

Sure, if the preferences were accepted and began leveling the playing field without opposition starting in 1969.

Did inner-city schools with large minority student bodies become as good as suburban and rural schools in 1969? I'm not sure they've caught up after 55 years.

Did African Americans start having the ability and the financial wherewithal to purchase homes in good neighborhoods and school districts starting in 1969? Racial covenants, a relic of the past, are still on the books in Kansas City and across the country

It takes time to make up for 200+ years of racism and oppression and our country was not all-in on equality in 1969. It might have been 55 years ago but progress was slow and IMO we still haven't leveled the playing field.

The people who are whining now are the people who thought discrimination was fine while they were benefiting from it.

[Caribbean Hen]

https://nypost.com/2024/03/06/opinion/h ... cal-stunt/

The horrid NY gov sat on her hands and did nothing for 3 years and now…. Only now in election year she puts the National Guard on the subway platforms to shows she cares about out of control crime

[Caribbean Hen]

The way to way discrimination on the basis of race, is to stop discriminating on the basis of race. The agency should give equal preferences to all races, or none at all.

I don't completely disagree with you because I think if we give racial preferences without an end date then we're just creating future victims. I do not think it is fair to just say things are equal now and we're just going to pretend 200+ years of oppression didn't happen. It would benefit society to help African Americans climb out of the poverty and ghettos that we've put them in with racist policies and customs.

It’s also time to Stop coddling blacks

They need to pick up their game

Black Fathers Matter

[BDKJMU]

https://nypost.com/2024/03/06/opinion/h ... cal-stunt/

The horrid NY gov sat on her hands and did nothing for 3 years and now…. Only now in election year she puts the National Guard on the subway platforms to shows she cares about out of control crime

I guess calling out the Nat Guard is only racist when a Republican does it.
https://nypost.com/2024/03/07/opinion/t ... -and-more/

[kalm]

The lead pipe lock lobby has spoken…

[Caribbean Hen]

https://www.msn.com/en-us/news/us/ameri ... 263&ei=144

The Poison Ivy League is what they should call it

[UNI88]

https://www.msn.com/en-us/news/us/ameri ... 263&ei=144

The Poison Ivy League is what they should call it

Why not the Ivy Cancer League? Look at some of the malignant tumors educated there:

• donald trump - University of Pennsylvania
• ron deconkis - Yale, Harvard Law School
• josh hawley - Yale Law School
• vivek ramaswamy - Harvard, Yale Law School
• elise stefanik - Harvard
• ted cruz - Princeton, Harvard Law School
• jd vance - Yale Law School

[Caribbean Hen]

https://www.msn.com/en-us/news/us/ameri ... 263&ei=144

The Poison Ivy League is what they should call it

Why not the Ivy Cancer League? Look at some of the malignant tumors educated there:

• donald trump - University of Pennsylvania
• ron deconkis - Yale, Harvard Law School
• josh hawley - Yale Law School
• vivek ramaswamy - Harvard, Yale Law School
• elise stefanik - Harvard
• ted cruz - Princeton, Harvard Law School
• jd vance - Yale Law School

List why you consider all these people cancers

[UNI88]

Why not the Ivy Cancer League? Look at some of the malignant tumors educated there:

• donald trump - University of Pennsylvania
• ron deconkis - Yale, Harvard Law School
• josh hawley - Yale Law School
• vivek ramaswamy - Harvard, Yale Law School
• elise stefanik - Harvard
• ted cruz - Princeton, Harvard Law School
• jd vance - Yale Law School

List why you consider all these people cancers

They are or support a narcissistic sociopath who has conned millions into believing he's fighting the establishment for them.