Wednesday, August 11, 2021

WALL STREET BIDEN - DESTROYING THE ECONOMY FOR THE RICH AS FAST AS HE'S DESTROYING AMERICA'S BORDERS ...... FOR THE RICH!


Don’t be fooled by Joe Biden




Chris Hedges | NAFTA, Clinton, and Obama BETRAYED Americans... JOE BIDEN WAS RIGHT THERE HELPING THEM AND HIS CRONY BANKSTERS!




Anchors Away! Inflation Expectations Sail into Unchartered Waters

MACUNGIE, PENNSYLVANIA - JULY 28: U.S. President Joe Biden speaks at Mack Truck Lehigh Valley Operations on July 28, 2021 in Macungie, Pennsylvania. President Biden spoke to a crowd of supporters at Mack Truck Lehigh Valley Operations about the importance of manufacturing in America and buying products made in America …
Michael M. Santiago/Getty Images
1:51

Inflation expectations of businesses jumped higher in August, according to a survey released by the Atlanta Fed Wednesday, casting doubt on the notion that inflation is moderating.

Businesses surveyed by the Atlanta Fed indicated that on average they expect inflation to be three percent over the year ahead, up from 2.8 percent a month ago.  That matches the record high set in June and is more than twice the 1.4 level recorded in April.

Approximately one-third of firms expect both labor costs and nonlabor costs to put a significant upward influence on prices.

Asked about the past year, 27 percent of businesses said their costs were up “very significantly,” up from 17 percent in July. Another 27 percent said costs were up “significantly,” a one point decline from July.

Year-over-year unit cost growth increased significantly to 3.3 percent, on average.

Sales levels “compared to normal” remained unchanged slightly into positive territory.  Profit margins fell slightly.

Inflation expectations of business are closely watched because they are thought to provide guidance on the potential path of inflation. Many Fed officials regard expectations as something close to a self-fulfilling prophecy when it comes to inflation. If businesses expect that prices will increase at a faster rate, their own purchasing, pricing, and wage decisions will reflect this expectation, making the increase more likely to be realized. In short, the expectation of higher prices can lead to higher prices.

What’s more, rising prices tend to contribute to rising inflation expectations, suggesting that inflation can spiral upward by feeding on itself.
 


Bidenflation Stays High with Prices Jumping 5.4%

US President Joe Biden speaks next to a Jeep Wrangler Rubicon 4xe after delivering remarks on the steps his Administration is taking to strengthen American leadership on clean cars and trucks on the South Lawn of the White House in Washington, DC, on August 5, 2021. (Photo by JIM WATSON …
Photo by JIM WATSON/AFP via Getty Images
1:55

Consumer prices surged higher in July.

The Consumer Price Index rose 5.4 percent compared with a year ago, the Department of Labor said Thursday. On a monthly basis, the CPI rose 0.5 percent.

Economists had expected the inflation measure to rise by 5.5 percent on an annual basis and 0.5 percent compared with a year ago.

Core inflation, which excludes the volatile food and energy categories, rose 4.3 compared with 12-months ago—apart from the prior month’s 4.5 percent rise, that is the biggest annual increase since 1991—and 0.3 compared with June. Both figures were in-line with expectations.

Prices rose 0.9 percent on a monthly basis in June and 5.4 percent annually. The June monthly and annual figures were the highest since June 2008, when prices jumped 1 percent in a single month.

Federal Reserve and Biden administration have said they expect this rapid rise in the cost of living to taper off later this year or early next year.  A growing number of investors and economists, however, are warning that inflation is likely to stick around longer than anticipated.

Some Federal Reserve officials have begun to say that the Fed should move sooner to lower the level of monetary policy accommodation by reducing the central bank’s bond purchases.

A survey of consumers by the New York Fed found that the public expects prices to rise 4.8 percent over the next 12-months, matching June’s record high in data going back eight years. A plurality of Americans now say price levels are the most important economic indicator, a change from earlier in the year when unemployment and jobs figures were considered the most important

JOE BIDEN HAS LIED FROM THE VERY FIRST DAY. HERE IS THE REALITY OF HIS HISTORY AND CON JOBS TO SERVE THE RICH:

Don’t be fooled by Joe Biden




Chris Hedges | NAFTA, Clinton, and Obama BETRAYED Americans



Impeach Joe Biden

The outcry has begun to impeach Joe Biden.  He should be.  Dan Bongino is noteworthy in making the call.  And not for “light and transient causes,” to borrow from the Declaration of Independence.  Not to stage show trials, like Pelosi, Schumer, and other Democrats did to Donald Trump.        

If the United States had a recall referendum provision – as otherwise dysfunctional California does -- canvassers would secure signatures to hold a Biden recall vote in record time, no doubt. 

In just about seven months in office, Biden is surpassing what it took James Buchanan and Jimmy Carter – two of the most wretched presidents in U.S. history – to achieve in four years.  Fecklessness (Buchanan) and bumbling cluelessness (Carter) aren’t grounds for impeachment. 

Alas, neither is ongoing deterioration due to dementia.  That’s the 25th Amendment’s turf.  Biden’s policies are grounds, though; they’re rife with calculated malice and, in one instance, as Biden inadvertently confessed, unconstitutional.  His actions violate his oath of office.        

From Bongino, per Yahoo! News, August 6:

Bongino argued Biden has invited an "invasion" at the U.S.-Mexico border, as the number of migrants attempting to cross the barrier illegally breaks records, and health concerns are raised as some illegal immigrants have tested positive for COVID-19 as they are dumped into communities by federal officials to await immigration proceedings.   

Two million illegals are anticipated to cross into the U.S. this year alone.  That’s like moving an entire state’s population (New Mexico – 2,059,179) into the country in 12 months. 

The illegals onslaught this year is just a preview.  What will the White House backed invasion look like in out-years ’22, ’23, and ’24? 

A couple of million new illegals in 2021 alone will impose enormous burdens and costs on states and localities -- on healthcare, schools, and law enforcement.  Welfare and housing will take big hits, too. 

If you’re unconvinced, go ask the good people of McAllen, Texas, which is a beachhead in the Biden-prompted invasion. 

Biden is dissolving our southern border.  Isn’t that grounds for impeachment?  Isn’t it a president’s duty to “protect and defend” the nation by preventing hordes of illegals from entering the country?  But dereliction is Biden’s lesser offense.  His southern border policy flouts his duty as chief executive.      

Biden’s defiance isn’t the result of misplaced compassion or incompetence. 

Very naïve Americans persist in characterizing the border crisis as due to the Biden administration’s bungling mismanagement. 

That’s simply not true.  As Tucker Carlson repeatedly points out, the southern border breakdown is premeditated.  The White House and congressional Democrats know what they’re doing and why. 

The Heritage Foundation’s Tim Murtaugh wrote on July 30:

The fact is that Biden campaigned for president promising an array of enticements for people to break our laws to enter this country. He promised amnesty for those already here, taxpayer --provided health care, work permits, support for sanctuary cities, and a cessation of deportations.

Since becoming president, he also paused construction of the border wall and reversed the “Remain in Mexico” policy, which delayed entry for those seeking asylum.

The de facto dissolution of the nation’s southern border is being undertaken to achieve a longstanding Democrat aim: to flood the nation with illegals, thereby creating an ever-expanding government-dependent class whose votes can be “harvested.”  Holding underclass blacks in generational poverty and welfare bondage is insufficient, politically.      

As the fraudulently named “For the People Act” attests, Democrats seek to permanently undermine honest elections.  Adding successive waves of illegals to the U.S. radically changes the nation’s dynamics, culturally and politically.     

While Democrats see crass political advantages in overturning the culture and corrupting elections, their hard-left allies are delighted to see the country “deconstructed,” i.e., ruined by illegal throngs.  Destruction of the existing order is foundational to Marxist doctrine; the Communist Manifesto is explicit on this account.   

Meanwhile, bloodless big business titans have long pimped for open-ended migration to satisfy their cheap labor appetites.  It’s a key reason why big business has fallen in with Democrats.   

Biden’s undeclared, though very deliberate, open border policy is a win-win for his party’s chief factions. 

While most talk centers on COVID-infected illegals crossing into the U.S., that’s just Step One in the White House’s scheme.   

At the White House’s direction, illegals are being disperse across the nation, including the COVID sick.  Biden’s White House is knowingly and willfully spreading disease.                                             

Concurrently, in an act of unbridled hypocrisy, Biden and his allies -- in and out of government -- are beating the drums for a reimposition of mask mandates, compulsory COVID vaccinations, and lockdowns.  “Stop the spread” is now grim parody.         

Among the illegals are an assortment of hardened criminals -- many are gang members involved in the illicit drug trade.    

Fentanyl is big business for cartels -- and Xi’s China, too.  Fentanyl is a less conspicuous drug to smuggle; it’s easier to conceal and transport than marijuana, heroin, or cocaine.  A little of it packs a big, lethal punch.  Hence, smuggling fentanyl is less risky while promising outsized profits to cartel cutthroats and China’s producers.     

Are we to believe that Biden and his bright, sophisticated White House cadres are unaware of the “bad hombres” among the hordes trekking across the Mexican-American border?  Are we gullible enough to believe that they’re insensible to the untold damage that will be inflicted throughout the country by opening the gates to drug thugs? 

Biden, his cabinet, and White House staffers damn well know what’s happening.  They’ve made a cold calculation that their party benefits, and that outweighs the injuries done to citizens.  Biden granting entry to criminals alone is impeachable.                     

Another article of impeachment suggested by Bongino: Biden’s eviction moratorium (or, alternatively, the “Let’s Keep Screwing Landlords Initiative”).

This may seem like small change compared to erasing the southern border, but the eviction moratorium amounts to an insidious attack on property rights.   

Again, from Yahoo! News:

He [Bongino] also invoked the Biden administration's eviction moratorium, which came this week despite the Supreme Court signaling in June that an earlier moratorium expiring at the end of last month could only be extended by Congress. The Justice Department argued in federal court the new, more limited moratorium is meant to protect U.S. citizens from going homeless as the delta variant of COVID-19 rages across the country.     

The hard left, which drives much of the Democrats’ agenda, is mobilizing in support of Biden’s decision to extend the moratorium. 

From Rair Foundation USA, August 7:

The Party for Socialism & Liberation is using their front groups “Cancel the Rents” and the ANSWER Coalition to advertise the protest [conducted this past Saturday], which is being held along with the “Housing Justice League,” a socialist organization that sprang up from the Occupy Wall Street movement and works closely with the Atlanta chapter of America’s largest Marxist organization, the Democratic Socialists of America.

At a news conference last week, Biden practically admitted to the unconstitutionality of extending the moratorium, but is doing so boldly anyway. 

Impeach Biden?  You bet.  Of course, a Democrat-controlled House and Senate won’t act to impeach and remove Biden from office.  Impeachment will be up to Republicans should they take the U.S. House in November 2022.  That is, should elections chicanery not deny them a majority.  With a majority, presumptive speaker Kevin McCarthy will have to keep the GOP’s surrender faction in line to achieve impeachment. 

For Capitol Hill conservatives, the imperative is to build the case for Biden’s impeachment and educate voters as a run-up to next year’s midterms.  The starting gun has been fired. 

J. Robert Smith can be found on Parler @JRobertSmith and more so at Gab, again @JRobertSmith.  He also blogs at Flyover.     


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