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These types of posts are being removed or covered as “false information” by those totally non-partisan, not-connected-to-government-at-all tech algorithms.
Don’t Worry, the Government Is Only Going After the Rich People for More Taxes 👌
IRS Looking to Introduce New Program to Erase Cash Tipping Altogether
Random Thoughts of the Day
There’s no doubt the FED’s massive expansion of the money supply the past few years has majorly contributed to runaway inflation, but it’s only one of many causes. Another is, of course, the insane government spending that’s been supercharged through Covid, which only shifts the demand curve (and therefore the price) of nearly everything. It also has to do with all the input cost increases of products & services. Think about an income statement of a business and their price determination models. In other words, what do they have to pay to produce the items they sell? 1) Labor costs, where there are massive shortages, jacking up wages. 2) Energy, where Biden & the climate change freaks have tried everything to stifle fossil fuels, while Russian tensions have disrupted supply. 3) Supply chains, where stupid Covid rules and China tensions have disrupted flow. 4) Real estate, where low interest rates & “free” money drove prices insanely high. And the list goes on and on of areas where government interference drove compliance & input costs up.
Which brings me to the FED and their recent string of interest rate increases. It’s the only tool in their toolbox to contract the money supply, and it works by essentially wrecking the economy. It does this by triggering a recession, mostly by making it too expensive to borrow for houses, cars, business expenses, etc. But it’s not working on inflation this time because Biden and other leftist world leaders have done nothing to address the other causes stated in the previous paragraph. In fact, they’re doubling down on the same stupid policies that caused inflation in the first place, such as Biden’s latest budget, including some of the largest spending increases in history, almost entirely financed by debt. Europe, Canada, and the U.S. keep creating tax/welfare programs that reward people for NOT working and punishing those who work more, which adds to labor costs. Plus, all those rules that sound good–such as paid maternity leave, six weeks vacation, required union membership, etc.–just add to the costs that are passed on to consumers in higher prices. As for the FED interest rate increases, they’re not having the same effect with big ticket items like houses & cars simply because of huge shortages of those essential items.
The recent string of big bank failures and the ones sure to come soon will be blamed on greed and lack of government regulation, but even the most stable, conservative, and well-run banks are on the cusp of failure, and the causes go beyond the “bank runs” of shaky depositors. Banks are doing what they always do — collect money for which they pay some low rate of interest, then lend or invest that money several times over at a higher rate. However, most were simply unprepared for the shockingly high increase of rates, which cause prices of mortgages and other long-term securities to plummet. “Risk-free” government bonds had double-digit losses last year. Why? Because why would you buy a 30-year bond paying 1-2% interest when you can get 5-6% now? In the case of mortages, ones locked into 3-4% rates for 15-30 years have much lower values when banks can now charge 7-8%. As for their mortgage payers, the increasing cost of living raises default risk. Do you see how stupid policies can cascade when you ignore basic laws of economics?
Speaking of bad economic policies, recent times have exposed the fallacy of minimum wage laws. Remember when there was a big push to raise minimum wages to $15 per hour? Well, the labor shortages have forced that wage without any laws. Are these workers better off financially? Of course not, because rent, food, transportation, and everything else has gone up at least as much as their wage. Related to minimum wage laws, liberal cities often do everything in their power to keep out Walmarts, dollar stores, and other businesses that lower the cost of living. The rational is that they’re low paying and put other local companies out of business. In other words, the companies that charge higher prices are your only choices–yet another reason your higher wage doesn’t go as far.
I don’t watch the “news” anymore, but I didn’t need to see videos to know the whole January 6th crap was a farce from the start. Anyone with common sense could see through the garbage “insurrection” gaslighting. The fact all the Big Tech companies simultaneously used it as cover to censor all questioning of the 2020 election should have been your first clue. Incidently, we know from history that Soviet, East German, and Cuban dictatorships could monitor populations & suppress freedom using nothing more than intimidation and word of mouth. What do you think a modern government/Big Tech partnership could do?
I have no doubt the Chinese use Tik Tok to spy on Americans and steal information, but don’t you think they use Facebook, Instagram, and other social media to do the same thing? More likely, the calls in government to ban Tik Tok are a way to protect the monopoly power of their buddies in Big Tech.
The recent crackdown on service worker tips should show you the “tax the rich” BS politicians always use to divide the country and sell tax increases never holds up. Here’s a quiz for you: do you think government efforts to reduce the take-home pay of service workers will increase or decrease labor shortages? And if there are fewer workers, will consumer prices increase or decrease? Hmmmm…who can predict? 🤔
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3 thoughts on “03-17 Politically Incorrect Daily”
“…the tax-home pay…”
If you can edit the text, please delete this ‘reply’.
Thanks, Graham. No amount of proofreading ever seems to eliminate all my typos.
Sign on a restaurant door in Parker, Arizona, not long after the state had raised the minimum wage: “Due to the recent wage increase, we can no longer offer the senior discount.”
Someone always has to pay.