BIDENOMICS - DESTROYING AMERICA'S ECONOMY LIKE JOE'S DESTROYING U.S. BORDERS AND PUTTING IT IN THE POCKETS OF HIS CRONIES ON WALL STREET

SOCIOPATH LAWYER JOE BIDEN: THE LAWS, LIKE THE BORDERS, HAVE NEVER APPLIED TO HIM. ONLY SERVING HIS CORPORATE PAYMASTERS IS THE BOTTOM LINE.

Dan Crenshaw on Pipeline-Killing Biden Administration’s Call for Stable Global Oil Supply: New Level of Stupid

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Michael Brochstein/SOPA images/LightRocket via Getty Images

PENNY STARR

12 Aug 202126

2:11

Rep. Dan Crenshaw (R-Texas) is calling out President Joe Biden and his administration for blaming the increase in gas prices on an unstable global oil market after putting in place policies to kill historic gains in domestic energy production, including shuttering the Keystone XL Pipeline and pausing oil/gas exploration and production on public lands.

“Reaching a whole new level of stupid, the Biden administration asks OPEC (foreign oil) to increase production, while making every possible attempt to destroy CLEANER American oil and gas,” Crenshaw posted on Twitter.

Crenshaw included National Security Advisor Jake Sullivan’s statement issued on Wednesday:

Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery. The price of crude oil has been higher than it was at the end of 2019, before the onset of the pandemic.

While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022. At a critical moment in the global recovery, this is simply not enough.

President Biden has made clear that he wants Americans to have access to affordable and reliable energy, including at the pump. Although we are not a party to OPEC, the United States will always speak to international partners regarding issues of significance that affect our national economic and security affairs, in public and private. We are engaging with relevant OPEC+ members on the importance of competitive markets in setting prices. Competitive energy markets will ensure reliable and stable energy supplies, and OPEC+ must do more to support the recovery.

Under the Donald Trump administration the United States for the first time achieved energy independence and stopped relying on foreign, often hostile, sources for oil and gas.

Follow Penny Starr on Twitter or send news tips to pstarr@breitbart.com.

The policies of the Biden administration have been driven by the interests of Wall Street and the super-rich.

Surviving an Unlivable Wage | Full Documentary

https://www.youtube.com/watch?v=GbvNhQ4lYLE

What Happened To The American Middle Class? | Financial Crash Documentary | Business Stories

https://www.youtube.com/watch?v=YbTlq7A-wVs

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https://www.youtube.com/watch?v=mCqc5Ozrh6c

Chris Hedges | NAFTA, Clinton, and Obama BETRAYED Americans... and Joe Biden was right there with the worst of them!

https://www.youtube.com/watch?v=qryblALiqOI

Biden’s Summertime Blues: U.S. Economic Confidence Slumped into Negative Territory in July

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Photo by MANDEL NGAN/AFP via Getty Images

JOHN CARNEY

12 Aug 20212

1:16

The economic confidence of Americans declined in July, polling by Gallup indicates.

Gallup’s Economic Confidence Index is now -6, down from +1 in June and back to the negative level registered in May.

The recent decline in confidence may reflect public reaction rising coronavirus infections and higher than expected inflation.

Gallup asks Americans to rate national economic conditions as excellent, good, only fair, or poor. It also asks whether the economy is getting better or getting worse. The combined responses are used to create the Gallup Economic Confidence Index, which has a range of +100 (if all respondents say the U.S. economy is excellent or good and that it is getting better) to -100 (if all say it is poor and getting worse).

Confidence is far below the Trump administration highs. The last full pre-pandemic reading was +41 in February 2020, the highest rating since October of 2000. But it has rebounded from the pandemic low of -33 in April 2020.

Six months of the Biden administration—A balance sheet

Patrick Martin

19 July 2021

Six months ago, Joseph Biden was inaugurated president of the United States, under conditions of unprecedented crisis of US capitalism and the entire social and political order.

President Joe Biden speaks about updated guidance on mask mandates, in the Rose Garden of the White House, Thursday, May 13, 2021, in Washington. (AP Photo/Evan Vucci)

His predecessor, Donald Trump, did not attend the ceremony, signaling his refusal to accept the outcome of the 2020 election. Only two weeks before, on January 6, Trump’s supporters had stormed the Capitol and temporarily halted the congressional certification of state electoral votes. The aim of the attempted coup was to stop the transfer of power and establish a personalist dictatorship. In the words of Chairman of the Joint Chiefs of Staff Mark Milley, it was Trump’s “Reichstag moment.”

When Biden took office, 400,000 people were dead from the COVID-19 pandemic, while millions were unemployed. Just months earlier, every city, town, and village in America had seen protests in opposition to police violence.

Biden marked the six-month anniversary with brief remarks presenting American society in glowing terms. “For all those predictions of doom and gloom six months in, here’s where things stand,” he said. “Record growth, record job creation, workers getting hard-earned breaks.” He added, “Put simply: Our economy is on the move, and we have COVID-19 on the run.”

Summing up his prognosis, the US president proclaimed: “It turns out capitalism is alive and very well.” The truth is that the policies of the Biden administration have entirely failed to resolve the social crisis in America and they cannot, because they are based on the framework of American capitalism.

The pandemic, far from being “on the run,” is undergoing a new resurgence. Since Biden took office, an additional 225,000 people have died from the pandemic. All indications are that by the winter, with the new surge accompanying the spread of the Delta variant, the death toll under Biden will have exceeded that under Trump.

The policies of the Biden administration have been driven by the interests of Wall Street and the super-rich. This is why, despite occasional criticisms of Trump’s callous and anti-scientific response to the coronavirus pandemic, Biden has pursued the same policy of restoring corporate profit-making by forcing workers back to work and children back to school as quickly as possible, regardless of the dangers to their lives and health.

Trump’s response to the economic depression that accompanied the onset of the pandemic was to pour trillions into bolstering the banks, hedge funds and corporations, with bipartisan bills like the CARES Act. Biden pursues essentially the same policy, although with less support from the Republicans than the Democrats gave Trump. He boasts of success on the economic front, although seven million fewer workers have jobs today than before the pandemic began, and millions face wage cuts, poverty, eviction and foreclosure.

Only in foreign policy is there a significant shift from Trump to Biden, and this in tactics only, not strategy. Biden has placed more emphasis on the US utilization of NATO and the “Quad,” a de facto alliance with Japan, Australia and India. Significant sections of the military-intelligence apparatus backed Biden against Trump because they sought a more effective mobilization of US power against Russia and China.

And if Biden’s statement that “capitalism is alive and very well” were true, it begs the question: Why is there a mounting fascist threat to American democracy?

In the six months since Biden’s inauguration, the Republican Party has maintained its intransigent opposition to any serious investigation into the events of January 6. Half-hearted Democratic proposals, first for an “independent” bipartisan commission to investigate the attack, then for a bipartisan congressional investigation, have been blocked outright or endlessly delayed.

Meanwhile, evidence continues to emerge of the central role played by Trump and his allies in Congress in seeking to carry out a political coup d’état to overturn the results of the election and maintain himself in office. But neither Trump nor his accomplices have even been questioned, let alone tried, convicted and jailed.

Instead, Trump has renewed his agitation against the election, seeking to transform the Republican Party into an openly fascistic movement subordinated to his personal authority. And his supporters in the Republican Party are using their control of state legislatures to enact unprecedented and sweeping attacks on the right to vote.

Biden himself acknowledged something of the reality of the crisis of American capitalism in a speech last week in Philadelphia, when he declared “We are facing the most significant test of our democracy since the Civil War.” But he offered no way forward, except to appeal to “my Republican friends in the Congress, states and cities and counties to stand up” against this assault—although they are the very ones carrying it out.

In an effort to prop up illusions in the Democratic Party, the representatives of its “left” wing, portray Biden’s policies in extravagant terms. Last week Senator Bernie Sanders claimed that Biden’s “reconciliation” bill on social spending amounted to “the most consequential piece of legislation for working families since the 1930s.” Or, like Bhaskar Sunkara of Jacobin, affiliated with the Democratic Socialists of America, they express disappointment in what has been achieved so far, but express the hope that “Biden has shown a willingness to think big,” and that additional pressure should be brought to bear on congressional Democrats.

For his part, Biden uses every possible occasion to make clear he has no intention of implementing any measures that challenge the interests of the financial oligarchy, declaring last weekend, “Communism is a failed system, universally failed system. I don’t see socialism as a very useful substitute.”

The truth is that the Biden administration is based on Wall Street and the military, mobilizing behind it sections of the upper middle class through the utilization of identity politics. Well aware of the explosive social conditions developing in America, moreover, the administration supports the union “organization” campaign at Amazon and the PRO Act, to make it easier to install unions at work locations where they otherwise would have difficulty convincing workers to pay dues for the privilege of having their wages and benefits cut.

It is telling that when workers engage in genuine anti-corporate struggles, like the strikes waged by autoworkers against Volvo Trucks in Dublin, Virginia, the supposedly “pro-labor” president falls completely silent. Biden is for the unions, not for the workers, because he correctly sees the unions as an instrument of the US ruling class in policing the working class.

Workers must draw the lessons of six months of the Biden administration. None of the problems confronting the working class, from the disastrous pandemic response to unparalleled levels of social inequality, to the danger of imperialist world war and fascist dictatorship, can be addressed without breaking the grip of the financial oligarchy over every aspect of society.

This means breaking with both the Democratic and Republican parties and building a new, mass political party of working people, based on a socialist program. All those who seek to reorganize society to meet human need and not the demands of Wall Street

Bidenflation: Household Goods Inflation Hits Highest Since 1980

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AP Photo/Brennan Linsley

JOHN CARNEY

12 Aug 202178

1:33

It’s not only getting more expensive to buy a home. It’s also getting much costlier to furnish a home.

The price of household furniture jumped 1.2 percent in July, according to Producer Price Index data released Thursday. Compared with a year ago, the index for home furniture is up nine percent.

A broader category that includes furniture and other household durable goods is up 7.2 percent, the largest gain since 1980.

This is not a category showing big annual gains due to a dip in prices last year. Prices for household durables actually rose last summer. But over the last six months, they have been on an unending inflationary climb.

 

The Producer Price Index for home electronics rose 1.9 percent in July and is up 3.6 percent compared with a year ago. That’s the largest annual increase since 1979 and the largest monthly gain since 1981. In general, prices for home electronics have fallen over the last sixty years.

Household appliance prices jumped 2.9 percent in July compared with June. Major household appliances were up 3.2 percent. Cooking appliances rose 2.6 percent—and compared with a year ago these are up 6.2 percent.

Lawn and garden equipment rose 1.5 percent. Prices are up 3.2 percent annually.