Suckers!

For all of those that put off going to college until they could  pay for it, those that saved and then paid for college,  those that borrowed and then paid their loans and those that did not go to college because they could not afford it, Biden says: “SUCKERS.”  

https://budgetmodel.wharton.upenn.edu/issues/2022/8/26/biden-student-loan-forgiveness

Biden’s student loan cancellation will cost all of us taxpayers $500 billion to $1 trillion and the benefit will primarily go to people with good paying jobs. 

And of course this will also hurt inflation. 

https://www.crfb.org/blogs/cancelling-student-debt-would-add-inflation

And increase the cost of college as more more people learn they can borrow money for free. 

And one of its largest cost are hidden. It’s the new way the commit limits what students have to pay. https://marginalrevolution.com/marginalrevolution/2022/08/the-student-loan-giveaway-its-much-bigger-than-you-think.html

And last but not least, help increase the money flowing to the woke university professors and administrators destroying our country. 

https://www.cato.org/blog/federal-student-loans-rising-tuition-costs-insider-speaks

Afghanistan 12 months later

Way to go Joe!

BLM-what about this life?

Where’s the outrage? Where’s BLM? Where’s Lebron?

Another week and more lives lost. Until the Democrats stop propagating the false narrative nothing will change.

Black lives matter - I support the words but cannot support the organization because it propagates the false narrative that systemic racism is the primary cause of the disparities(murders, incarceration, teen mothers, fatherless households, income, wealth, etc.) between blacks and whites.

Racism exists (though not widespread), it’s bad, and we should continue to work to reduce it. Excess police force exists (though rare), it's  bad and we should continue to work to reduce it.

BLM organization’s positions and policies do not address the problems (murders, fatherless households, teen pregnancy, lack of agency) and do not address the key root causes (it’s not excessive police force or systemic racism.) 

https://moxlosllc.blogspot.com/2021/10/wheres-biden-lebron-blm-102521.html

 

Biden raises insurance premiums

Biden raises insurance premiums   

Obama made a bad healthcare system bigger. He distorted the market for insurance (risk pools) resulting in much higher premiums.

Now, Biden succeeds in making it even worse. The Inflation “Reduction” Act will increase the demand for insurance BUT decrease the supply. Prices will increase. 

https://twitter.com/caseybmulligan/status/1557704382908665856?s=21&t=TPI21lIyTjXHvxXN_i8a1Q

https://nypost.com/2022/08/10/inflation-reduction-act-health-care-handout-would-worsen-inflation/

Biden is clueless!

We have time

Climate change is not an existential threat. There is plenty of time for adaptation and innovation. We do not need to stifle the economy today. We should be funding research to lower the cost of alternatives and developing nuclear. 

https://www.aims.gov.au/monitoring-great-barrier-reef/gbr-condition-summary-2021-22

Inflation Reduction Act - a big lie

The Inflation Reduction Act is a big lie. It will hurt the economy. It does not reduce inflation. And doesn’t even help fight climate change. 

http://caseymulligan.blogspot.com/2022/07/contents-of-inflation-reduction-act.html

 https://committeetounleashprosperity.com/wp-content/uploads/2022/08/CTUP_NegativeIRAReport_082022.pdf

https://twitter.com/bjornlomborg/status/1554502059340320768?s=21&t=ZE5mH_6ggLPuikGYaEf8ug

Spending 100’s of billions for nothing (except unions)

https://twitter.com/bjornlomborg/status/1555111668769820672?s=21&t=cN5kNup0kLNfZLnGSuG6vw

 

Oil still too high

 

People still not working

 Yes jobs are being added.  BUT people are still not working.  This is a problem.

Biden pays off unions

Biden’s union payoff 

The inflation reduction act doesn’t reduce inflation, it actually raises taxes on everyone. And now we learn it’s also a payoff to unions. Why Biden wants to distort market forces and use our precious tax dollars so inefficiently is obvious: he’s paying off unions. 

Solar

The new base tax credit for so­lar and wind pro­duc­tion would be $5.2 per (MWh). 

In­vestors in projects that use union labor would be able to claim $26 MWh 

Investors using 100% steel made in the U.S get $28.6 

C Sequestration 

The base tax credit for car­bon se­ques­tra­tion is $17 per ton 

For projects using union la­bor it is $85 per ton.

Nuclear Power

The base tax credit for nuclear power is $3 per MWh. 

It is $15 per MWh if union labor.

Biden increases your taxes

Biden wants in increase taxes on corporations. 

This will increase everyone’s taxes (though indirectly.)

What do you think happens when you increase the costs (taxes) of companies. They do a combination of three things. 

1. They increase their prices(inflationary);

2. They reduce their costs (your wages) and investment(lowers demand for workers); and/or,

3. Shareholders make less(reduces investment hurting economy).

INFLATION REDUCTION ACT - Nope

What do you think happens when you increase the costs (taxes) of companies. They do a combination of three things. 

1. They increase their prices(inflationary);

2. They reduce their costs (your wages) and investment(lowers demand for workers); and/or,

3. Shareholders make less(reduces investment hurting economy).

PWBM estimates that the Inflation Reduction Act impact on inflation is statistically indistinguishable from zero.

https://budgetmodel.wharton.upenn.edu/issues/2022/7/29/inflation-reduction-act-preliminary-estimates

Oooops.

 Way to go Joe. Two quarters negative GDP growth

Back in 2008, President Joe Biden’s current National Economic Council director, Brian Deese, stated: “Of course economists have a technical definition of recession, which is two consecutive quarters of negative growth.” 

And in 2019, top Biden economic adviser Jared Bernstein said that a “recession” is “defined as two consecutive quarters of declining growth.”

President Bill Clinton: “A recession is two quarters in a row of negative growth.”

Why don't these black lives matter?

 

Where’s the outrage? Where’s BLM? Where’s Lebron?

Another week and more lives lost. Until the Democrats stop propagating the false narrative nothing will change.

Black lives matter - I support the words but cannot support the organization because it propagates the false narrative that systemic racism is the primary cause of the disparities(murders, incarceration, teen mothers, fatherless households, income, wealth, etc.) between blacks and whites.

Racism exists (though not widespread), it’s bad, and we should continue to work to reduce it. Excess police force exists (though rare), it's  bad and we should continue to work to reduce it.

BLM organization’s positions and policies do not address the problems (murders, fatherless households, teen pregnancy, lack of agency) and do not address the key root causes (it’s not excessive police force or systemic racism.) 

https://moxlosllc.blogspot.com/2021/10/wheres-biden-lebron-blm-102521.html

 

YIKES! - Inflation sucks

I'm starting to remember what it was like in the very early eighties with.  It's clear that the Biden's administration injection of too many trillions of dollars into the economy AND their unreasonable green policies constraining US domestic energy production are really hurting.

EVs actually hurt environment

So why do Democrats and Biden keep pushing for people to spend $20,000 more per car AND make more pollution,

A new study published by the National Bureau of Economic Research found that electric vehicles are worse for the environment than gas-powered ones. By quantifying the externalities (both greenhouse gases and local air pollution) generated by driving these vehicles, the government subsidies on the purchase of EVs, and taxes on electric and/or gasoline miles, researchers found that “electric vehicles generate a negative environmental benefit of about -0.5 cents per mile relative to comparable gasoline vehicles (-1.5 cents per mile for vehicles driven outside metropolitan areas).” 

And this analysis doesn’t even include the problems of batteries. NBER’s study doesn’t cover all the reasons that EVs are worse for the environment than gas-powered cars. For instance, most of today’s EVs are powered by lithium-ion batteries. Due to heavy government subsidies, China dominates the global production of lithium-ion batteries and their precursor materials, especially graphite. China’s graphite production has notoriously contributed to significant pollution in the country. 

https://www.nber.org/system/files/working_papers/w21291/w21291.pdf

Joe-People still not working

Biden says “We have more Americans working in the private sector today than any day during Donald Trump’s Presidency -- more people than any time in our history,” 

Whaaaaat?

Biden dithers on vaccines

Just as Biden dithers on Ukraine where he continues to fail to lead the free world in assisting Ukraine in defeating the Russians by supplying sufficient quantity and quality of weapons Biden is failing to lead the development of new vaccines. 

As early as February 2021 it was clear that Biden’s leadership was lacking. 

https://www.google.com/amp/s/nypost.com/2021/02/02/biden-dithers-on-vaccination-while-covids-new-strains-rage/amp/

And it has only gotten worse. 

Operation Warp Speed and the broader 2020 vaccine effort was a miracle. It took less than 12 months to go from a novel pathogen to vaccine shots in arms. 

Since then, our response has been far less impressive. 

https://www.slowboring.com/p/we-could-have-universal-covid-vaccines

https://marginalrevolution.com/marginalrevolution/2022/07/operation-warp-speed-should-not-have-been-disbanded.html

As bad as Trump was, and he was bad in many ways, he was able to lead, or at least get out if they way, of Operation Warp Speed that successfully developed multiple COVID  vaccines in record time. 

Biden?  Not so much. 

Biden continues to stop oil production

The Biden administration helping environmentalist sue oil companies to stop production.

https://thefederalist.com/2022/07/07/bidens-swamp-brings-back-sue-and-settle-to-hide-behind-courts-as-it-stomps-out-fossil-fuels/

And oil companies act rationally 

“The answer is that U.S. producers are shackled by powerful external limiters, in part emanating from the ESG investingmovement, but perhaps most penetratingly from the overriding idea that the need for oil and natural gas is soon coming to an end. Investors want to see companies produce as much as possible from existing assets now, pay the highest current dividends possible, and invest as little capital as possible in future exploration and development.”

https://thefederalist.com/2022/07/07/yes-bidens-war-on-the-oil-and-gas-industry-is-driving-shortages-and-high-prices/