08-26 Politically Incorrect Daily

Political Memes and Funny Pictures

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Tough to Find a Dumber Government Handout

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Some additional points:

  • Among the professions not likely to receive a penny: soldiers, farm workers, police officers, restaurant workers, truckers, construction workers, plumbers [Note: these are all professions where we have major shortages]
  • College majors likely to receive payouts: art, gender/culture studies, philosophy, theater, communication, journalism, marketing, history, literature, political science [Note: these are all areas where we have a flood of grads but few jobs.
  • Over 56 percent of outstanding student loans are for people with masters degrees or higher. Do people with post-grad degrees strike you as ones who will be on the lower future income spectrum?
  • New doctors and lawyers will likely be eligible for the handout. Even experienced ones making $250,000 will be eligible if they have a non-working spouse.
  • Speaking of non-working spouses, the income limits give an additional incentive to stay in school, stay home with kids, or work only part-time. This will only exasperate the country-wide labor shortage.
  • Prior to the Biden presidency, inflation was relatively tame in the U.S. for a couple decades with the exception of two major areas: health care and education. Here’s your Jeopardy question in the category of Inflation Explosion, “What are the two areas of the economy the government has dominated over any others?” Double Jeopardy question in the category of Energy Price Explosion, “Can you name the 3rd area of the economy the Biden admin has recently taken over?”

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‘Big Tech’s at It Again’: House GOP’s Post About Student Loan ‘Forgiveness’ Plan Gets Censored

New Meme Gallery Added

Doctors, Nurses, Health Care, and Medical Meme Gallery

Social Media Posts of the Day

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Quote of the Day

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Message of the Day

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08-02 Politically Incorrect Daily

Political Memes and Funny Pictures

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Social Media Posts of the Day

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Quote of the Day

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Message of the Day

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Sorry, It Won’t End Anytime Soon

The Dems’ New Proposal Does Nothing To Lower Inflation – David Harsanyi

Continuing with the Dems’ calling bills the exact opposite of what they do (think “Affordable Care Act”, “Voting Rights Act”, “Employee Free Choice Act”), the new spending binge is hilariously called the “Inflation Reduction Act.” Let me break down why inflation won’t end as long as Biden is in office. The current inflation has 4 primary causes that have nothing to do with Russia-Ukraine:

  1. The Labor Shortage. When you have a shortage of workers, wages go up, which sounds great, but unfortunately that adds to the input cost of every good & service we buy. A while back I wrote of the labor shortage causes and steps to fix it, none of which have been adopted by Biden.
  2. Energy Costs. Biden’s war on fossil fuels filters into everything: transportation of goods, factory power costs, retail store air conditioning, and so on. Until the Dems unshackle the American energy industry, nothing will change.
  3. Covid Restrictions & Requirements. China is the worst violator, but unfortunately, they and other countries have cut off or delayed crucial inputs. Western countries are slightly better for now, but every restriction, such as vaccine border checks, just slows down productivity and adds overhead costs.
  4. Government Spending & Central Bank Money Printing. This is perhaps the biggest reason inflation is prevalent around the world. While getting my Finance degree in college and observing decades of financial history, I can’t think of a more insanely stupid economic policy than the now world dominant Modern Monetary Theory, which essentially says it doesn’t matter how much governments spend since they can just inflate their currencies indefinitely to cover it. An Economics 101 student should be able to diagram their first week why this is destined to fail. But the Democrats show no sign of slowing down, and the RINOs currently in control of the Republican Party aren’t much better. Central banks can help in the short-term by contracting the money supply, which they’re doing now by raising interest rates, but that mainly works because it trashes economies to the point that people don’t have money to spend, and it’s only a short-term fix. This inflationary cause can only be solved long-term by balancing budgets, paying down debt, and stabilizing currencies. Few politicians have the political courage to make the spending cuts. I’m optimistic this could be solved by a leader who can educate the public about why cuts are needed. People are now far more open-minded after seeing the results of the brutal Leftist policies.

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By the way, watch closely as the Dems & media manipulate how results are presented. Specifically, they will use percentages of larger base numbers. For example, say the price of an item is $100 and increases $15 to $115 in year 2. This is a 15% inflation rate. Now say the cost increases $16 in year 3 to $131. This is a bigger price increase, but because you’re starting at $115, the inflation rate is only 13.9% [i.e. (131-115)/115]. Yippee!!!!!! Inflation is DROPPING!!!! Biden is AWESOME AWESOME AWESOME!!!!!

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06-20 Politically Incorrect Daily

Political Memes and Funny Pictures

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biden waiting election time dangle student loan forgiveness again
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Social Media Posts of the Day

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Don’t Give an Inch On This

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No White Flag on Red Flag Laws – Kurt Schlichter

Quote of the Day

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Random Thoughts of the Day

Let’s examine how to create a textbook bubble in the real estate market that benefits the super-rich. First, the Federal Reserve massively increases the money supply while charging ultra-low interest rates. The government uses all the new money for unsustainable spending campaigns. Result: people feel richer. Their 401k balances are bursting, saving is increasing, they’re receiving free government “stimulus” money, etc. Naturally, people want to take advantage of the good times by spending money on such things as a new home. Since all but the super-rich need a mortgage, the purchase price isn’t as relevant as the monthly payment. At 3.25%, 20% down payment, a 30-year mortgage payment on a $400,000 hourse is $1393. For a young, two-income couple, that might be totally doable, so they can bid $400K on whatever house they like.

Of course, the insane money printing & spending always leads to inflation at some point, forcing the Fed to reduce the money supply and raise interest rates. We’re obviously seeing that scenario play out. Consider the same situation with the house, only now the rate is 6.5%. The same mortgage on the $400,000 house would be $2023 per month! Now a couple that can only afford $1393 is completely priced out of the market for a $400K house. In fact, if you want a $1393 payment at 6.5% interest, the most you can spend on a house is now $275,000. This scenario gets even worse if you can’t afford a 20% down payment and must resort to mortgage insurance.

So how does this benefit the super-rich? It’s simple–they can buy the real estate outright without a mortgage. The same house which sold for $400k can now be purchased in cash at $275K. The Bill Gates’s of the world can now swoop in and buy a ton of bargain-basement real estate. Then, they can just rent out the property until governments & central banks create the next bubble for which they sell into, and the process starts again. Get the picture? Admittedly, the massive housing shortage in this country makes this an oversimplified example, but the point is the entire real estate value formula is flipped by the huge increase in interest rates.

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Message of the Day

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