VISUALIZE IMPEACHMENT OR REVOLUTION!
The END is Near
https://www.youtube.com/watch?v=in4I1fTBCME
Richard D. Wolff | Capitalism Headed OFF A CLIFF!
Every year, the federal government rewards about 1.2 million foreign nationals with green cards to permanently resettle in the U.S. while another 1.4 million foreign nationals secure various temporary work visas to take American jobs.
This massive legal immigration inflow, opposed by the majority of Republican voters, is in addition to the hundreds of thousands of illegal aliens who are added to the U.S. population annually.
GOP Rep. Van Duyne: IRS Expects Taxpayers to Report $600 Payments While the DOD Can’t Account for Trillions
On Friday’s broadcast of the Fox Business Network’s “Kudlow,” Rep. Beth Van Duyne (R-TX) argued that it’s ridiculous for the IRS to expect people to report $600 in income while the Department of Defense can’t account for trillions of dollars in spending in its audit. And said that in addition to cutting the funding for the IRS expansion in the Inflation Reduction Act, she’ll look to repeal the $600 reporting threshold.
Van Duyne said, “This is about getting inside single individual every American who…gets paid more than $600 from other than a direct employment relationship. Look, the federal government can’t even keep track of its own spending. You just saw earlier this week, DOD not being able to attribute $2.2 trillion. And yet, we’re somehow blowing that off, and yet, every single American out there is going to be asked to account in paperwork and be able to defend to the IRS to be put in the position of having to defend [themselves] for $600.”
She added, “The power of the purse, it rests in the Congress. We’re the ones who [get] to decide the budget and appropriations…starting on January 3, when the Republicans have back control of the House, what you’re going to see is funding being cut to those 87,000 additional IRS agents that Democrats pushed through in a purely partisan manner this last Congress. We’re going to stop that. But we’re also going to look to be able to repeal some of these nonsense provisions that, again, were passed under a Democrat Congress, starting with, I’m a proud co-sponsor of Rep. Carol Miller’s (R-WV) bill that would repeal this provision that allows the government to be able to look at people’s expenses at $600.”
Follow Ian Hanchett on Twitter @IanHanchett
PROFILE OF A SOCIOPATH PARASITE GAMER LAWYER:
Saying Joe Biden has substance is like saying a toilet that doesn't flush is still a working toilet. Joe Biden has no substance, he's an empty shell of a man, a creature who has changed his beliefs the way normal people change their underwear, a puppet for the billionaire class and its radical left-wing allies, as well as teachers' unions, united in their elitist desire to keep the little guy down.
MONICA SHOWALTER
Poll: Joe Biden’s Approval Underwater on Nearly Every Key Issue
President Joe Biden’s approval is underwater on nearly every key issue, a Yahoo!/YouGov survey released this week found.
Biden’s overall approval is net negative, as 42 percent of adults approve and 52 percent disapprove. That figure hardly improves among registered voters, as 45 percent approve and 54 percent disapprove.
Biden fails to perform much better on key issues facing the country. For instance, Biden has a net -21 percent approval on the economy, as most, 56 percent, disapprove and 35 percent approve. Notably, 40 percent “strongly” disapprove of his handling of the economy, compared to just 12 percent who “strongly” approve.
Independents, specifically, have an even more negative view: 62 percent disapprove of Biden’s handling of the economy, compared to 30 percent who approve — a difference of 32 percent.
This negative approval trend continues for a variety of issues.
Race:
39 percent approve
44 percent disapprove
Guns:
34 percent approve
52 percent disapprove
Climate change:
40 percent approve
44 percent disapprove
Crime:
33 percent approve
53 percent disapprove
Abortion:
39 percent approve
47 percent disapprove
Inflation:
31 percent approve
59 percent disapprove
Biden earned a net positive approval on only one issue — coronavirus, 48 percent approval to 41 percent disapproval. Even so, his approval on this issue is underwater among independents, 48 percent of whom disapprove compared to 42 percent who approve.
The survey was taken December 1-5, 2022, among 1,635 U.S. adults and follows a preliminary national exit poll on election night last month which found 66 percent indicating that Biden should not run for president again in 2024.
Similarly, a Politico survey released in November found that just over a quarter, 28 percent, believe Biden should run for office again, and of those, just 15 percent said he “definitely” should seek a second term. Sixty-five percent, however, said Biden should not run for office again.
However, that will likely do nothing to stop Biden, who reportedly intends to run, with the support of his family.
A senior advisor recently told Fox News, “As the President has said, he intends to run for reelection,” adding that is “something both Dr. Biden and the family fully support.”
Breitbart Business Digest: Inflation Is Becoming Entrenched
Jerome Powell is an average sort of guy.
Don’t get us wrong. We’re not accusing the chairman of the Federal Reserve of being mediocre. That’s the kind of judgment best left to history or its Author.
What we mean is that when Powell looks at economic data, his instinct is not to look at month-to-month changes but the average of the last few months. There’s good reasons to do this. It smooths out the volatility that afflicts a lot of economic data—and the post-pandemic period has been particularly volatile. It allows insight into a longer-term trend rather than focusing on what just happened a month or two ago.
So what are the longer-term trends telling us about inflation? This is an important question to consider in advance of the Federal Open Market Committee meeting next week because it is likely to be very much on the mind of Powell and his fellow monetary policymakers.
Let’s start with the Personal Consumption Expenditures (PCE) price index. This is the inflation gauge that the Fed uses for both its anonymized projections and its two percent target. It is produced by the Department of Commerce with a lag compared to the Department of Labor’s Consumer Price Index (CPI) and Producer Price Index (PPI). So the latest PCE price index data we have is from October, when the index rose 0.3 percent compared with the prior month. That was exactly what it did in September and August. Obviously, this means the three-month average to 0.3 percent.
More importantly, what we’re seeing here is a failure of inflation, as measured by the PCE price index, to continue to moderate. It appears to have plateaued at a level well above what would be consistent with the Fed’s target. Annualized, this is a 3.6 percent rate of inflation. While that is much lower than the six percent we’ve experienced over the past 12 months, it is very high when judged by the Fed’s commitment to two percent.
n Friday, the Department of Labor released the latest data on the PPI for final demand. This was up 0.3 percent in November, which was exactly the same rise in October and September. In other words, here too inflation appears to have stopped declining and instead plateaued at a high level.
The November CPI will not be released until next week. The Cleveland Fed’s inflation nowcast for November is 0.5 percent, while the consensus forecast is for 0.3 percent. If we split the difference, we get a gain of 0.4 percent. The October CPI came in at 0.4 percent, as did the September CPI — another plateau.
Average hourly earnings, a closely watched measure by the wage-inflation-fearing Fed, has not plateaued. Instead, it has been steadily climbing from 0.3 percent in August, to 0.4 percent in September, to 0.5 percent in October, and 0.6 percent in November. Anyone looking for disinflationary pressure from wages is not going to find it in the average hourly earnings data.
The picture this paints is one of inflation becoming entrenched at a high level rather than continuing to decline under pressure from the Fed’s interest rate hikes and the easing of supply chain problems. Incidentally, the University of Michigan’s measure of inflation expectations over the last five years has been locked in a range of 2.9 percent to 3.1 percent for 16 out of the last 17 months, according to the University of Michigan’s survey of consumers director Joanne Hsu. That’s another sign of entrenchment at a high level.
This is likely to strike Powell as extremely frustrating. While he has often said that monetary policy acts on the economy with long and variable lags, it cannot be comforting to see that the progress the Fed made against inflation this summer appears to have stalled in the autumn months.
Congressional Report: Financial Technology Companies Fueled Billions in PPP Fraud
A congressional report has found that obscure financial technology companies “with little to no oversight from lenders” have fueled rampant Paycheck Protection Program (PPP) fraud. The report estimates a total fraud of about $64 billion, with fintechs contributing significantly to that total.
Little-known financial tech companies, also known as “fintechs,” have taken ” billions in fees from taxpayers while becoming easy targets for those who sought to defraud the PPP,” an investigation by the House Select Subcommittee on the Coronavirus Crisis found.
The Select Subcommittee began its probe following reports that “fintechs participating in the PPP approved a high volume of fraudulent PPP loan applications.”
The PPP, which passed Congress in the spring of 2020, offered unprecedented support for small business owners to help them maintain operations and keep their employees throughout the Chinese coronavirus pandemic.
No more than three years after the PPP went into effect, however, it is clear that small business owners were not the only ones to benefit from this program.
“At least tens of billions of dollars in PPP funds were likely disbursed to ineligible or fraudulent applicants, often with the involvement of fintechs, causing tremendous harm to taxpayers,” the congressional report states.
The report added that “fintechs were given extraordinary responsibility in administering the nation’s largest pandemic relief program — a responsibility that some of the fintechs that facilitated the highest volumes of loans were either unable or unwilling to fulfill.”
“Many of these companies appear to have failed to stop obvious and preventable fraud, leading to the needless loss of taxpayer dollars,” the congressional report reads.
One fintech called Kabbage had furloughed half of its employees who were tasked with assessing risk and reviewing accounts. Nonetheless, Kabbage continued funding PPP loans by outsourcing the work to “temporary contractors,” the report said.
“Despite the risk of fraud, Kabbage made staffing reductions throughout 2020 that likely weakened its capacity to address fraud,” the report read. “Press reports indicate that Kabbage furloughed employees in March 2020, anticipating a contraction in business during the pandemic, but that participation in the program ‘saved’ the struggling fintech.”
“After Kabbage’s acquisition by American Express in October 2020, PPP borrowers were left at the mercy of an underfunded and understaffed spin-off company that failed to properly service their loans and would later file for bankruptcy,” the report added.
Another fintech called Womply had fraud prevention practices described by lending partners as systems that were “put together with duct tape and gum.” The fintech was also accused of allowing “rampant fraud” to infiltrate the PPP.
A third fintech called Blueacorn — which received more than $1 billion in taxpayer dollars via PPP processing fees — gave its employees little to no training on the loan underwriting process. They weren’t even instructed on how to spot a fake driver’s license.
Blueacorn loan reviewers who spoke to the Select Subcommittee said they had received poor training, and were pressured to “push through” PPP loans, even if they doubted the authenticity of the loan’s supporting documentation.
A former Blueacorn loan reviewer added that the company’s reviewers were “submitting PPP loans to the SBA the first minute of the first day” of their employment, despite having “no formal or informal training on loan underwriting.”
Additionally, these reviewers had “no training on how to properly identify and report fake government identification such as a driver’s license,” the ex-Blueacorn loan reviewer said.
The reviewers were also told “the faster the better,” and that each loan application review “should take you less than 30 seconds,” the congressional report said.
You can follow Alana Mastrangelo on Facebook and Twitter at @ARmastrangelo, and on Instagram.
The Silver Lining in Joe Biden’s Failed Economy
Corporate diversity consultants and woke journalists keep losing their jobs
Andrew Stiles • December 7, 2022 4:20 pmPresident Joe Biden has presided over a failed economic recovery marred by rampant inflation and a Democratic megadonor's multibillion-dollar fraud scheme. Nevertheless, there is a silver lining to the sluggish economy: Corporate diversity consultants and left-wing hack journalists are getting fired at a rapid clip.
Major tech companies such as Meta, Amazon, and Twitter have cut thousands of jobs over the past several weeks. Fortune magazine reports that these layoffs are "decimating human resources and diversity teams." That's great news for America.
Last month, for example, the ride-hailing company Lyft cut 13 percent of its workforce. Hannah Said, the firm's "Diversity and Inclusion Business Partner," announced that she was fired along with the "majority" of her department. In that role, according to her LinkedIn profile, Said "strategically influenced Talent Acquisition/Recruitment through equitable hiring trainings, outreach and engagement activations, and Diversity, Equity, and Inclusion Councils," among other things.
Dalana Brand, the "Chief of People and Diversity" at Twitter, resigned shortly after immigrant billionaire Elon Musk took over the social networking website and started firing people, including several leaders of the company's diversity-focused employee resource groups. Musk also reportedly dissolved "the entire human rights team." Whatever that means.
Media companies are also firing employees. BuzzFeed on Tuesday said it was cutting about 12 percent of its workforce. NPR announced a hiring freeze in an effort to cut $10 million from its annual budget. Newspaper chain Gannett has fired 600 employees since August. CNN has fired a number of partisan hacks, including conference call masturbator Jeffrey Toobin, and announced last week that hundreds more were likely to be terminated in the coming weeks.
Biden's presidency is certainly one of the saddest moments in American history, which is why it is so important to highlight these silver linings. There may be hope yet for our wonderful country.
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