How Did Yellen and Powell Get Inflation So Wrong?

 

https://www.terrellaftermath.com/

How Did Yellen and Powell Get Inflation So Wrong? - The Atlantic

Yes, the stimulus was too big. But that’s not the main reason prices are through the roof.

. . ."That she was. In March 2021, when inflation hawks were arguing that the Biden administration’s $1.9 trillion stimulus plan was going to overheat the economy, Yellen called the risk of inflation “small” and “manageable,” and a couple of months later said, “I don’t anticipate that inflation is going to be a problem.” She wasn’t alone. For much of 2021, Federal Reserve Chair Jerome Powell said that he thought inflation would be “transitory,” and even as inflation rose above 6 percent, the Fed kept interest rates near zero. (Its first interest-rate hike was not until March 2022.)

"Along the way, that thing Yellen thought was not going to be a problem became a huge one—not least, politically. Indeed, with today’s news that inflation in May was 8.6 percent (previously at 8.3 percent), it is arguably the biggest problem that the Biden administration faces—high prices are overshadowing pretty much everything else about the U.S. economy. The unemployment rate is a mere 3.6 percent, and last week, the Labor Department announced that the U.S. had added another 390,000 jobs in May. But all anyone wants to talk about is that average gas prices are now nearing $5 a gallon.

"Yellen and Powell have, predictably, faced a barrage of criticism over their failure to keep inflation under control. When Yellen testified before Congress

Finally! A whiny woke employee got fired for whiny wokeness

Andrea Widberg

I'm in mourning due to the attack on people with uteruses in the US. Federally guaranteed access to abortion is gone.

Vivendi and Universal Music Group must stop donating to anti-abortion, anti-queer and anti-trans politicians. Politicians like Marsha Blackburn, Ken Buck, Victoria Spartz, etc. Or expect more unproductive days.

Yours in fury, 

. . ."In other words, Lopez, a San Diego State U graduate, thought he was still in college, where students (with government backing) are writing the checks and the institution is happy to coddle them, especially because the students are parroting academia's views.  Lopez hadn't made the intellectual transition that would allow him to understand he was in the working world, where his employer was writing a check and wanted Lopez's labor in exchange for that money, a concept Lopez found offensive.

"It's to be hoped that more companies recognize that the tide is turning against people like Lopez, who live on an emotional diet of anger and victimhood.  They're awful people to be around and lousy employees.  But perhaps, if they get the message that the grown-up world has different rules, they'll finally start to change.". . .

"People with uteruses? How about "birthing parents"?

Mitt Romney: Master troll

 Question for Utah: seriously?  Is this the best you've got?

John Green  . . ."To be clear, we are snickering, but not at threats to our democracy, which we find to be deadly serious business.  We're snickering at the predictable crowd of Trump-haters, saying they've really got him this time, only to produce no evidence — again.  When Liz Cheney, Adam Kinzinger, Adam Schiff, and Nancy Pelosi make such an effort to beclown themselves, it would be impolite to not snicker at least a little bit.

In reviewing Mitt's article, I was to the point of exasperation, wondering how even an unprincipled fool could be so clueless.  And then Mitt gave away the joke:

Joe Biden is a genuinely good man, but he has yet been unable to break through our national malady of denial, deceit, and distrust.

" He called the guy that invented Borking, tried to cancel freedom of speech, targeted parents as terrorists, threatened states that sought to protect children from sexual grooming, and tacitly condoned an assassination attempt on a Supreme Court justice "a genuinely good man."  The Romney piece was a satire!  It had to be.  Nobody could be that stupid otherwise.  Could he?  Well done, Mitt, you clever but unprincipled bastard!  You got me, but I'll still never vote for you."

Red-Pilled YouTuber Talks Leaving the Left and Exposes an Interesting Fact About Political Division

Being young in America and separating yourself from the left actually takes some bravery.

 RedState  "Misha Petrov, a young woman, uploaded a video in June to her YouTube page that would garner quite a bit of attention and elicit a ton of responses, most of them absolutely in agreement with her.

"The video centered around how Petrov had considered herself a Democrat like most people her age. She was neck-deep in leftism, especially in her university where radical leftist politics was being shoved down her throat at all times, even in classes that had nothing to do with socio-political matters. She couldn’t get through a math class without it being woke.

"Soon, Petrov found herself unable to continue identifying with the left and as her video states, she left it. This includes her university which had sunk so far into wokeness that it stopped being a place of learning.". . .

The video centered around how Petrov had considered herself a Democrat like most people her age. She was neck-deep in leftism, especially in her university where radical leftist politics was being shoved down her throat at all times, even in classes that had nothing to do with socio-political matters. She couldn’t get through a math class without it being woke.

Soon, Petrov found herself unable to continue identifying with the left and as her video states, she left it. This includes her university which had sunk so far into wokeness that it stopped being a place of learning.

"red-pilled (past tense)  cause (someone) to have their perspective dramatically transformed, especially by introducing them to a new and typically disturbing understanding of the true nature of a particular situation: "they are talking about conspiracy theories and claim they have been red-pilled" · "to men's rights activists, being red-pilled means throwing off the yoke of popular feminism"

What Liberals Get Wrong About the Second Amendment

I guess the sounds of Crimo's weapon firing shot, after shot, after shot has awakened these fears in a new and terrifying way. TD

 Ann Coulter

"Must we really respond to the "musket" argument again?

"Apparently so. It's all the rage among Democrats right now.

"New York Gov. Kathy Hochul (Democrat) and Illinois Gov. J.B. Pritzker (Democrat) both think it's quite brilliant to claim that, if we care what the framers of the Constitution meant, then the Second Amendment applies only to "muskets"!

"In The New York Times, a couple of professors (Democrats, but you knew that) asked: "Is a modern AR-15-style rifle relevantly similar to a Colonial musket? In what ways?" They liked their argument so much, the op-ed was titled, "A Supreme Court Head-Scratcher: Is a Colonial Musket 'Analogous' to an AR-15?"

"[Frantically waving my hand]: Yes, professors, it's exactly analogous.

"The Second Amendment does not refer to "muskets"; it refers to "the right of the people to keep and bear arms." "Bear" means to carry, so any handheld firearm carried by the military can be carried by the people. Just as the musket was once carried by our military, the AR-15 is a handheld arm (technically, the less powerful version of the automatic M-16) carried by our military today. As soon as the U.S. military goes back to muskets, then muskets it is!

"But I'm not here to refute idiotic arguments. These guys may as well claim that the First Amendment protects only speech delivered in pamphlets and sermons, but nothing communicated on television, the internet, or with poster boards and Magic Markers.". . .

. . .Gallup left out one category. The subgroup most likely to own a whole buttload of guns, but not admit it: gang members and other recidivist felons protected by George Gascon and other Soros D.A.s.

Being a rational people, Americans are more worried about those guys than the random rifle-bearing psycho in a woman's dress.

The Liberal Killer of Highland Park

 Independent Sentinel 

However, he said he’s a liberal and used Antifa and Democrat Socialist of America symbols on his social media.

 "Robert Crimo III is not a MAGA supremacist killer of Highland Park despite the media’s efforts to paint him as one while seven innocent people are dead and reportedly 38 others are injured. Crimo was a “liberal” and a Democratic Socialist according to his own description and social media feed. However, he, Bobby Crimo, committed the crimes and he is guilty. Crimo appears to be mentally deranged.

"The Highland Park killer fits the profile of a mass shooter. Crimo indirectly told people on his chilling rapper videos that he was going to kill people as a “life-defining” moment. He played too many violent video games, wasn’t red-flagged, his parents might have been in denial, and he was reportedly taking drugs (not confirmed). There were a whole host of things that went wrong with Robert Crimo, but he alone is guilty in the end.

"The motivation does not appear political.". . .

If anyone cares to go through his likes, they’re still active. Here’s a handful of tweets he liked. pic.twitter.com/euR69J45gE

— Ian Miles Cheong (@stillgray) July 5, 2022

Information Uncovered Overnight Shows Highland Park Shooter, Bobby Crimo, Is Tied to Socialists, Progressives, Antifa and the Occult

After every mass murder, the search begins to show it was one of those Other Guys who did the evil deed.TD

The Gateway Pundit   "Now we have information [this article claims] tying Crimo to progressives, socialists, Antifa and the occult.  Crimo’s social network and lifestyle are all related to the progressive movement.

"Crimo has ties to the Democratic Socialists of America as noted by the tattoo on his neck.  This is the largest and fastest-growing socialist organization in the US.". . .

Highland Park parade shooting suspect Robert Crimo kicked out of synagogue (nypost.com)

How the Highland Park Shooter Reportedly Obtained His Guns Is Beyond Ridiculous

So, how did Crimo get his weapons? They were all purchased legally, but in Illinois, you need a Firearm Owners Identification card (FOID) to own guns and ammunition. Crimo's father co-signed for his son's card in 2019, even after his past behavior. I have a feeling that this whole family is going to land in hot legal water. If they knew this kid was a problem, did nothing, and then signed a firearms card for him—they deserve to be charged as well (via Chicago Tribune):  

Kamala's statement: “We Have to Take This Stuff Seriously, as Seriously as You are Because you Have Been Forced to Take This Seriously”

Biden Wins Praise from Chinese State Media for His Attack on American Businesses

 

Biden Wins Praise from Chinese State Media for His Attack on American Businesses (ijr.com)

Shocking Amount of Biden's Emergency Oil Reserves Ended Up in China, Europe

Biden releases U.S. Strategic Petroleum Reserves ... to China

The American Energy Alliance points out that it's actually worse than it looks -- China isn't even using the oil -- it's stockpiling it for its own strategic petroleum reserves, meaning, the U.S. oil taken off the market is not helping to lower the price of crude even on a worldwide basis.

US-China Relations in the Biden-Era: A Timeline - China Briefing News (china-briefing.com). . ."Day 476: May 11, 2022 – US removes key language on its stance on Taiwan. Updates to the State Department’s fact sheet on Taiwan, released on May 5, 2022, committed key language on the US’ official stance on Taiwan, including that the US “[acknowledges] the Chinese position that there is but one China and Taiwan is a part of China” and that it “does not support Taiwan independence”. However, it still includes the sentence “The United States has a longstanding one China policy, which is guided by the Taiwan Relations Act, the three U.S.-China Joint Communiques, and the Six Assurances.” When inquired by the media at a regular press briefing on May 10, Foreign Ministry Spokesperson Zhao Lijian called the amended document “a trick to obscure and hollow out the one-China principle” and that ” the attempt to change the status quo across the Taiwan Strait will hurt the US itself”. Following this, at a press briefing on May 11, the US Department of State Spokesperson stated that “our policy towards Taiwan has not changed” and “we do not support Taiwan independence' ”. . . .

WH Press Sec. Has No Idea Oil From U.S. Reserves Are Being Sent To China…

Illinois Has an A- Rating for Gun Control and Long List of Gun Laws — The Highland Park Attack Still Occurred

McManus called the overall issue “America’s growing refusal to protect its citizens from violence. In its cities, that’s what the bail-reform/defund-the-police movement is all about — shielding criminals from the consequences of their actions.”

 IJR

"If having a great report card on gun control prevented gun tragedies, Highland Park, Illinois, would not be trending in America this week. But it is. And voices are demanding that while the political back-and-forth over gun control plays out in Washington, someone deal with the real problems.

"As noted by Breitbart, Highland Park has its own “assault weapons” ban and is in a state that gets an A- from the Giffords Law Center for the severity of its anti-gun laws. Everytown for Gun Safety says Illinois has the sixth most stringent anti-gun laws in the nation.

"The state has a red flag law, a waiting period to buy a gun and a long train of conditions imposed on gun purchasers.". . .

“ 'Certainly all Americans have rights — but they should include the right to be protected from the armed and dangerous: Urban gangbangers and psychotic loners with rifles both. Again, there are no simple answers. But developing more respect for the power of preventive action would be a long step in the right direction.' ”. . .

Biden Smears: Supreme Court Are “Extremists”…

That man needs to go, and go soon!

Weasel Zippers

Even Biden Is In on It Now: POTUS Criticizes 'Extremist' Supreme Court (ijr.com)   . . ."Hours after the decision was first handed down, Biden delivered remarks about it that expressed his disappointment and stated that he believes it is a “tragic error.”

"But he refrained from outright attacking the court and called for protests to remain peaceful.

"However, that seems to be changing. On Thursday, while he was in Spain, Biden claimed the court is “destabilizing.”

"And during an event on Friday, Biden said, “I share the public outrage that this extremist court has committed to move America backwards with fewer rights, less autonomy.” . . .

AOC Does Her Nails As Act of “Resistance”…

 Weasel Zippers

.@AOC says she is getting her nails done as an act of “resistance” post-Dobbs. pic.twitter.com/jqFA1PyhJk

— John Gage (@johnrobertgage) July 2, 2022

Whoya Think tweeted:

" 'Reclamation' of WHAT..your 'right' to get a manicure..your right of 'pursuit of happiness' ?

"Your constituents can't afford one anymore..it's in their gas tanks..and your paycheck for doing absolutely NOTHING except displaying your ignorance on the internet!

"On average, a basic manicure will cost you about $20. However, special types of manicures like acrylic, gel, shellac, and no-chip range from about $20 to $50 in price."

Confirmed Again: The Green Agenda Is Taking Us Backward

Issues & Insights

"All the cool kids say humanity has to abandon fossil fuels and rely on wind and solar for our electricity and battery-operated cars (which remind us of the toys we played with as kids) to get around. It’s the future, they say. So why does it seem more like the past?

Let’s begin with a fascinating “fer instance”: 

“Classic Cars,” says a Motorious headline from late last  month, “Are Greener Than Electric Vehicles.” The story below the headline refers to a study from ​​British insurance company Footman James, which is “refreshing,” says the article’s author, “because it doesn’t talk emotional rage, sticking  instead to the inconvenient facts.”

And what are those facts?

“A classic car notching up the national average of 1,200 miles emits 563kg of CO2 a year. By comparison, a new Volkswagen Golf has a carbon footprint of 6.8 tonnes of CO2 the day it leaves the factory, a figure it would take our average classic 12 years to match.”

“For an electric vehicle, the footprint is even greater. A battery-powered Polestar 2 creates 26 tonnes of CO2 during its production, emissions that would take a typical classic more than 46 years to achieve. By which time, the EV’s cutting-edge lithium-ion battery would have long since lost its ability to hold a charge and been consigned

to the nearest recycling facility.”

“Footman James rightly points out that within that 46-year period, the Polestar 2’s battery will need to be replaced, maybe even swapped for a new one twice or more,” writes Steven Symes for Motorious. “And what happens to the battery? Can it really be recycled? The answer for now is no. Meanwhile, the classic car keeps running without contributing significantly to a landfill. But you should feel bad for driving such an awful pollution machine, or so we’re told.”

"The narrative says EVs are greener but that’s because the true-believers “just look at tailpipe emissions, behaving as if that’s everything in the equation. They don’t consider pollution generated by the manufacturing process,” says Symes.". . .