E. Jean Carroll

Inflation


First: E. Jean Carroll Won

her civil lawsuit against Donald Trump for sexual abuse and defamation of character. She was awarded $5 million in this unanimous verdict. I hope she publishes a picture of the check.

Trump responded to the verdict on his imitation of Twitter, “I have absolutely no idea who this woman is. This verdict is a disgrace — a continuation of the greatest witch hunt of all time!”

Might be, but it’s sure great when a witch hunt uncovers and punishes an evil witch.

I repeat:

While it doesn’t always happen on the timetable we’d prefer, what goes around often does come around. Watch for this same sentence following each of the guilty verdicts against Trump.

Now On To Inflation

Ever since we started fighting inflation following the pandemic I’ve wondered about how this has been handled.

First there was the supply chain craziness, with container ships anchored outside our ports unable to unload because there weren’t enough trucks to move the goods, so supplies of many things shrunk. That was made worse by our decades long insufficiency of truck drivers. And all of that was just a small piece of worldwide supply challenges, including raw material shortages due to the Russian invasion of Ukraine.

That was happening as we were coming out of pandemic lock downs. Those kept us from consuming as we did before Covid and that caused a pent up demand for goods – stuff we like to buy. Once the pandemic was receding and lock downs were over, demand became un-pent up and soared.

Let’s see: greatly increased demand occurring at the same time we had greatly constricted supply .  .  .  PRESTO! Adam Smith’s invisible hand shoved prices way up. That’s called inflation, but it was made worse.

At the same time those things were happening our oil industry started raising prices faster than anything propelled upward by that invisible hand. That has often been labeled “price gouging.” Gas prices at the pump rose day and night, even though there were no oil supply shortages or supply price hikes of any kind to justify those prices at the pump. The result was huge profits – some would say windfall profits – for the oil producers and a huge financial hit to ordinary people every time they filled their gas tanks. And gas was a major player in spiking inflation.

Click me

The Fed is limited in what it can do to counter inflation. Its most powerful, albeit indirect, tool is to raise interest rates. Doing so makes borrowing, and really everything, more expensive, so demand drops. That’s the theory. And that’s what the Fed has done. Over and over.

This year the Fed rate went from near zero to over 5% in short order. Sounds great for fighting inflation, but along with the decreased demand due to higher prices came job layoffs, small business disruptions and a stick in the spokes of the wheels of new construction. Workers were laid off.

In other words, the pain of fighting inflation has been dumped entirely onto the backs of we ordinary folk and the pain for some of us has been enormous. But that isn’t the only way to fight inflation.

Government can create price controls to stop the gouging by industries that are reaping huge rewards just because they can get away with otherwise unjustified price increases.

Yes, I know that’s heresy to our absolutist market economy proponents, but this isn’t a pure market economy and it never has been. Example: we have rules to prohibit monopoly. Not the board game. They’re called anti-trust laws and they are designed to protect competition, smaller businesses and consumers from unfair monopoly power.

Another example is that we subsidize fossil fuel companies with the depletion allowance, farmers with gimme money and many more. More on that in a future post. Politicians may bloviate about the free market, but they’re all too happy to deliver non-free market paychecks to their constituent corporations and benefactors.

We know that people will act in accordance with their perception of their best interests. That alone led to the profiteering of oil companies and others in different industries in this opportunistic environment of overall rising prices. In some industries that becomes moderated by buyers choosing to refrain from buying overpriced goods, perhaps switching to cheaper alternatives. But that’s nearly impossible to do in some areas. People need to fill their gas tanks for all the usual reasons, like getting to and from a job, regardless of the price of gas.

It’s much like the hospital bill for heart surgery. Nobody decides not to get life saving healthcare and instead decides to die because of the price of the service. Healthcare and fuel are examples of inelastic demand, in that demand doesn’t adjust much based on price.

So, we can impact inflation by reducing demand by means of raising costs, which is what the Fed has done. That also causes workers to lose their jobs. Or we can impact inflation by controlling certain prices, which cuts corporate profits a bit. Perhaps there are other things government can do. But I can say with certainty that even as the fat cats aren’t listening to them, the people who are shouldering the bulk of the burden to fight inflation now aren’t any too happy about things as they are.

Quote of the Fiscal Year
  • “We shouldn’t even be talking about a world in which the U.S. doesn’t pay its bills. It just shouldn’t be a thing.”
  • – Jerome Powell, Federal Reserve Chair
  • Note: If Biden were to submit to Republican extortion over paying our debts, he would be dooming us to extortion in every year to come.
  • In Other News

There’s a test strip that can identify contamination with fentanyl in drugs like heroin. Because fentanyl is such a powerful drug and is so often lethal, being able to test for its presence can be life saving (as in: death avoiding) for users. But tough-on-crime legislators (read: Republicans in red states) have insisted upon seeing these test strips as illegal drug paraphernalia and have criminalized them. That seems to be changing.

Several states are decriminalizing the test strips. Indeed, there appears to be a shift from criminalizing illegal drug users to harm reduction. That will put a dent into the number of users going to prison and also the number of users going to graves. Here’s what’s interesting about that.

Over 100,000 Americans die from illegal drugs every year and over 67,000 of those are from fentanyl. There is a significant change, though, in the population that dies from overdoses. Now opioids are used a lot more and many more White people are dying from drug overdoses.

I’m sure that shift in the race of the corpses is unrelated to red states’ drug policy changes. Aren’t you?

Today is a good day to be the light.

______________________________

  • Our governance and electoral corruption and dysfunction and our ongoing mass murders are all of a piece, all the same problem with the same solution:
  • Fire the bastards!
  • The days are dwindling for us to take action. Get up! Do something to make things better.

    Did someone forward this post to you? Welcome! Please subscribe – use the simple form above on the right. And pass this along to three others, encouraging them to subscribe, too. (IT’S A FREEBIE!) It’s going to take a lot of us to get the job done.

    And add your comments below to help us all to be better informed.

    Thanks!

    The Fine Print:

    1. Writings quoted or linked from my posts reflect a point I want to make, at least in part. That does not mean that I endorse or agree with everything in such writings.
    2. There are lots of smart, well-informed people. Sometimes we agree; sometimes we don’t. Search for others’ views and decide for yourself.
    3. Errors in fact, grammar, spelling and punctuation are all embarrassingly mine. Glad to have your corrections.
    4. Responsibility for the content of these posts is unequivocally, totally, unavoidably mine.
    5. Book links to Amazon are provided for reference only. Please purchase your books through your local mom & pop bookstore. Keep them and your town or neighborhood vibrant.

    JA


Copyright 2024 by Jack Altschuler
Reproduction and sharing are encouraged, providing proper attribution is given.

Potpourri v19.0


E. Jean Carroll’s Civil Suit

against Donald Trump for battery and defamation is nearly over. She presented her case and then Trump called no witnesses. The closest he came to testifying was in his deposition, played for the jury, where he defended himself by claiming that Carroll was not his type. That got me to thinking.

In his deposition he viewed a photograph and announced that the woman in the picture with him was his second wife, Marla Maples. He married her, so it’s safe to assume Marla Maples was his type. What’s interesting about that is that the woman in the picture isn’t Marla Maples. It’s E. Jean Carroll, who apparently looked to Trump just like his former wife. Apparently, Carroll actually was his type.

But if Carroll wasn’t his type, as he claimed, exactly what is the type of woman he likes to rape?

Four Proud Boys Were Convicted

of seditious conspiracy last Thursday. One key element of the conviction was that the leader of this group, Henry “Enrique” Tarrio, was found guilty even though he wasn’t on the grounds of the National Mall or in the Capitol Building at the time of the insurrection. That speaks hopefully for charges to come against the prime conspirator, who also wasn’t in the Capitol Building during the insurrection.

For now, we’re left with some pertinent questions. First, are the Proud Boys still proud, now that it’s clear that they were dumb enough to let Trump use them as his pawns? Second, will they still be tough guys after 20 years in federal prison? Third, when it all goes down on Trump and they shave his comb-over and put him in a cheap, orange jumpsuit, will the Secret Service still have to protect him?

This is the third successful trial for seditious conspiracy prosecuted by Merrick Garland’s Justice Department. This stuff moves painfully slowly and, of course, we’re looking for indictments of Trump, Meadows, Stone, Cruz, Eastman, Navarro, Flynn, Bannon, Giuliani, Powell and the rest of Trump’s band of co-conspirators, both in and out of office. Jack Smith won’t want to run afoul of the 2024 primary activities, so I don’t think we’ll have to wait much longer for indictments of the bad guys. So, stand back and stand by.

Various Republican Controlled States

are loosening child labor laws. Let’s see if we can figure out why.,

There has been a shortage of labor throughout our economy for years and that impacts our entire supply chain down to the service at your favorite restaurant. We’ve turned off the immigration spigot, so where will new workers come from?

We have cleverly decided that it’s a good idea for 10-year-olds to work the French fry machines at McDonalds. We have children in dangerous areas of industrial plants and lots more. And oh, BTW, making money may dissuade kids from completing their education.

Congress has refused to address comprehensive immigration reform for four decades and we are massively short of workers, so businesses have turned to the only people available. Our cowardly legislators would rather eliminate protections for kids than clean up our broken immigration system. They’d rather send our children to work than send them to school.

Ron DeSantis Is Protecting

not just Floridians, but all Americans from Chinese nationals buying real estate in Florida.

According to Ron’s plan, citizens of Russia, Iran and North Korea can buy real estate in Florida. So can Colombian drug lords, Guatemalan sex traffickers, convicted domestic American terrorists and mass murderers. Seditionists are welcome to gobble up land in Florida, as are mercenaries from the Wagner group, who are raping and killing innocent civilians in Ukraine every day in the name of Mother Russia.

But Chinese nationals can’t buy land in Florida, this for obvious reasons. Be sure to enlighten us about what those obvious reasons are in the Comments section below, because they just aren’t all that obvious to me.

The List of Justice Clarence Thomas’ “Indiscretions”

grows longer nearly every day.

Friday we were treated to the news that the extreme conservative Supreme Court justice whisperer Leonard Leo had funneled money to Ginni Thomas via intermediary Kellyanne Conway. Conway was then a pollster and later Trump’s “alternative facts” hyper-blabber. The money danced fairly-like to Ginni in roughly $25,000 increments and there is no indication that she earned it by doing anything of value. That leaves us wondering why that money got deposited into Ginni’s account and why it was passed to her in chameleon-like fashion.

And, of course, there was yet another Harlan Crow episode of generosity, as we learned that the child Clarence and Ginni were raising was sent to private schools paid for by Crow, this to the tune of something like $160,000. Now really, who doesn’t pay for somebody else’s kid’s private school? And Justice Thomas didn’t report either of those income streams, as required by both the law and basic judicial ethics.

Clearly, all the money and money equivalents lavished upon the justice and his extremist, tear-down-our-democracy wife may be legal and proper, however much verbal dancing that might require to convince us of such a thing. But this stuff, along with Justice Alito’s and Chief Justice Roberts’ relationships with money look suspicious and all of this is driving our trust in this critical institution ever downward.

If overthrowing the government is the goal, one of the sure ways to motivate the people to do that is to convince them of the corruption inherent in it.

Allen, Texas, a Northern Suburb of Dallas

is now known to us much as Uvalde, El Paso and Sutherland Springs are known.

A bunch of people were gunned down yesterday and at least 8 died and 7 more were injured at the Allen Premium Outlet Mall, shot by a bad guy with a gun. He was at last stopped by a cop, a good guy with a gun. We’re sure to hear about that from the gun crazies over the next few days and isn’t it just great that good guys have guns?

But the thing about the good guys with guns is that they are always way too late to stop the bad guys from killing innocents. Given Governor Abbott and his supplicant legislature, surely there were a lot of good guys with concealed carry guns in that Texas mall yesterday afternoon. Unfortunately, most of them likely had little or no training in using a gun. How much help were those vigilantes? For an answer, ask the grieving families of the victims.

The governor, US senators and a few more with way more testosterone than sense have sent prayers. But think about it: thoughts and prayers are always a miserable confession that we waited too long to do what needed to be done. And we all know what needs to be done.

Columbine changed nothing. Neither did Highland Park. The same for Sandy Hook and Parkland and Uvalde and the Pulse Night Club and the Harvest music festival in Las Vegas and the Tree of Life Synagogue and now Allen, Texas. Prayers were sent for all, but the victims remain dead and their families and friends are traumatized for life with a pain that will never stop.

We can rally and protest and demand, but the Republican politicians are either crazed by a false interpretation of the Second Amendment or they’re in the pocket of the National Rifle Association or both. They will never do anything to protect We the People from murder.

If the legislators won’t change, then it’s up to us to change the legislators. We suffer two mass shootings every three days, so dumping those puffed up cowards can’t happen fast enough.

Think about that the next time you go to the mall or a movie theater or a house of worship or a music festival or send your kids to school. Will you make it home alive? Will your kids?

Quotes Of The Day

Only in America can a once-in-three-generations King’s coronation plus the Kentucky Derby be upstaged by — what else? — a mass shooting. – MSA

Everyone has a right to own a gun, but it must be a musket. – DE

.  .  .  the nation’s current gun free-for-all is not traditional but, rather, is a symptom of the takeover of our nation by a radical extremist minority. – Heather Cox Richardson

Today is a good day to be the light.

______________________________

  • Our governance and electoral corruption and dysfunction and our ongoing mass murders are all of a piece, all the same problem with the same solution:
  • Fire the bastards!
  • The days are dwindling for us to take action. Get up! Do something to make things better.

    Did someone forward this post to you? Welcome! Please subscribe – use the simple form above on the right. And pass this along to three others, encouraging them to subscribe, too. (IT’S A FREEBIE!) It’s going to take a lot of us to get the job done.

    And add your comments below to help us all to be better informed.

    Thanks!

    The Fine Print:

    1. Writings quoted or linked from my posts reflect a point I want to make, at least in part. That does not mean that I endorse or agree with everything in such writings.
    2. There are lots of smart, well-informed people. Sometimes we agree; sometimes we don’t. Search for others’ views and decide for yourself.
    3. Errors in fact, grammar, spelling and punctuation are all embarrassingly mine. Glad to have your corrections.
    4. Responsibility for the content of these posts is unequivocally, totally, unavoidably mine.
    5. Book links to Amazon are provided for reference only. Please purchase your books through your local mom & pop bookstore. Keep them and your town or neighborhood vibrant.

    JA


Copyright 2024 by Jack Altschuler
Reproduction and sharing are encouraged, providing proper attribution is given.

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