Disambiguation from the political and social musings of Jack Altschuler

inflation

What Art Friedson Has On His Mind


Here’s a guest essay, a wonderful post from Art Friedson from the June 23 NKC Occasional Update, reprinted with permission of the author.
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One of the great mysteries of life is how Joe Biden can be polling so low on favorable/unfavorable, and even more so, on his handling of the economy. Really? Are you kidding me?
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Okay, I get that he’s old. We all wish he was a decade or two younger. But by any objective measure, the man has been one of the most effective presidents in recent history, especially when it comes to the economy. Probably the most effective president. In fact, when it comes to presidents, Joe Biden is the GOAT: Greatest Of All Time.

Let’s start with the big picture and work our way down. President Biden took office just as the Covid pandemic was ramping up. China was already shut down which caused major supply chain disruptions: factories we relied on for goods were closed, and the related shipping delays made it nearly impossible to get the few goods that were available..

At the same time, there were vaccines in development, but no plans for the kind of mass distribution that would be necessary for what turned out to be the series of shots that would be required to tamp down the spread of the virus.
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U.S. Covid deaths
(Graphic from the C.D.C.)
Just three months into his term, as Covid deaths were reaching their first big spike in the U.S., the Biden Administration had already ramped up vaccine production and put a distribution plan in place that was flexible enough to be tweaked and evolve to meet impediments that surfaced.
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Throughout it all, President Biden skillfully and adeptly worked with a polarized Congress to pass law after law to pump money into the economy in general, and directly into the hands of the Americans who needed it most. At the same time, he used every administrative maneuver possible to successfully get the kinks out of the supply chain.
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The pandemic revealed a more serious problem for American industry: we had ceded control to foreign manufacturers. So again, President Biden finessed a series of measures through a challenging Congress that directly addressed the structural problems the pandemic exposed.
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Private Investment in Manufacturing
(Graphic from the St. Louis Fed)
The billions of dollars that have been and will be spent on infrastructure, coupled with the massive investments in new manufacturing sites for batteries, solar cells, and semiconductors, have been matched by unprecedented foreign investment resulting in what Axios chief financial reporter Neil Irwin calls “a manufacturing supercyle.”
The industrial construction boom has already offset the decline in residential and commercial construction that were hit by rising interest rates. Longer term, they can be counted on to provide a steady flow of good-paying jobs that will go a long way towards building back the middle class that was decimated by Republican economic policies that sent jobs and production overseas.
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While the Republican tax cuts drove income inequality, President Biden’s successes are driving an American revival. Current unemployment rates are lower than they were in the economic boom times of the 80s, 90s, and early 00s. While the unemployment rate for African Americans still lags, it has fallen from 16.8% in May, 2020, to just 4.7% now which is very close to an all-time low.
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President Biden has also taken on the surge of hidden fees that have raised prices on airline and concert tickets, as well as “junk fees” for banking and credit cards. These are the hidden drivers that fuel inflation by increasing corporate profits, separate and apart from the macroeconomic drivers of inflation. It’s like he has eliminated the Greed Tax.
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It took this long to mention inflation, so let’s deal with it. Yes, when you pump a bunch of money into the economy, even for the best of reasons, you get inflation. It has happened everywhere in the world since the Covid crisis. But in the U.S., thanks to President Biden and The Fed, inflation has fallen for 11 straight months, from a peak of over 9% last summer to the current rate of 4%. At the same time, markets have returned to within 10% of their all-time record levels. Why, you may ask? Because (a) investors have confidence that the right actions are being taken; and (b), since markets usually project the economy six months out, they believe that we will stay on the right track.
Energy CPI
(Graphic from Axios)
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The combination of falling inflation, decreasing unemployment, and record investment in manufacturing has been a boon to all Americans, not just the 1%. Income inequality has fallen thanks to tighter labor markets, greater transparency, and increased unionization.
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The bulk of the benefits of the Biden Boom redounds to the poorest members of American society. They are the ones whose incomes -even with inflation- have increased the most on a proportional basis. They are the ones who are getting the high-speed internet connections they were denied in the past. They are the ones landing the jobs rebuilding infrastructure and manufacturing and they are the ones who will hold the jobs that come on-stream after these facilities are built.
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The policies of the Biden Administration are benefiting the very people who are least likely to support him in an election. How crazy is that?
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Along the way, the Republican policies that drive income inequality and only benefit the rich are now completely debunked. They don’t work. They don’t create jobs and they don’t lift the poor. As hard as it is for even Establishment Republicans to admit it, their policies only benefit the rich, while Biden’s policies benefit everyone, rich and poor, rural and urban, blue and red.
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All this, and we have only focused on the economy. How about resurrecting the State Department and reconstituting NATO just in time for the Russian invasion of Ukraine? How about getting a record number of federal judges ratified and seated? How about the fact that America is not at war with anyone? Can any of you recall a time when we could say that?
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Our job – yours and mine – over the next 14 months is to spread the word about the unparalleled success of the Biden Administration and push pack hard every time we hear a discouraging word. Nobody has done this president thing like Joe Biden. He’s the GOAT. He may be an old goat, but he’s the GOAT and he deserves our unqualified support. The state of our nation quite literally depends on it.
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Note: All graphics are linkable.

You can subscribe to Art Friedson’s offerings in NKC Occasional Updates here..

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Focus For Democracy: Zoom Briefing – 2022 Impact Event
Focus for Democracy is a pro-bono donor advisory that approaches political investment in an effective, dynamic, data-driven way.  Learn about the effectiveness of its 2022 Midterm programs and hear the network leaders’ thoughts on the road ahead.
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This is NOT a fundraiser.
Thursday, June 29th
5:00pm PT/8:00pm ET
Register here: https://tinyurl.com/F4DJune29
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.

    Click me

    JA

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

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.

Raison d’Être


An essay in The Washington Post arrived last Wednesday shortly after my post about Biden’s accomplishments was posted. The WaPo piece is penned by Marc Thiessen and bears the not-so-enlightened title The 10 Worst Things Joe Biden Did in 2022. To be fair, Thiessen also offered a day earlier what he calls The 10 Best Things Biden Did in 2022.

I’m a WaPo subscriber, but I know nothing about Mr. Thiessen other than what I can conjure from his essays. I urge you to read his 10 Worst piece with an open yet critical mindset. He is a master of misdirection via implication.

For example, he starts by saying that Biden’s presidency is the worst in his (Thiessen’s) lifetime. Given the national disaster that were the Trump years, that should set the stage for you on what to expect. Here are a few specifics, numbered per Thiessen’s points.

10. Thiessen begins with, “On Biden’s watch this year” and goes on to list “disasters,” like inflation, gas prices and food prices, as though those are unrelated. But aren’t gas and food prices part of inflation? Besides, they’re out of any president’s control, so hanging them on Biden is senseless.

He goes on to include, “the worst crime wave in many cities since the 1990s. Not since Jimmy Carter has a president unleashed so many calamities at once.” Thiessen deftly ignores that Biden inherited the highest crime rate in 20 years and that crime rates went down in 2022. He implies Biden’s ineptitude with his “Biden’s watch” thing and the “unleashed” bit, as though Biden were attacking the country. Nonsense.

9. He slams Biden for his Jim Crow 2.0 accusation of Georgia’s voting restrictions, saying he owes Georgia an apology. What he fails to note is that Georgia’s governor managed to get over half a million Black and poor Georgians removed from the voter roles, this for major infractions, like being Black or poor. Sounds pretty Jim Crow-ish to me.

7. He criticizes Biden for discharging thousands of our military troops for their having refused an order to take a Covid-19 vaccination. This is forehead-slappingly absurd.

We were facing an assailant of monstrously debilitating power. Were it to sweep through our military we would be unable to defend our country. Do you remember the USS Theodore Roosevelt, on which a huge percentage of the crew went down with Covid? Do you want to have to count on that ship in that condition to protect the nation? Neither did Biden.

Besides, all military people get vaccinated for various illnesses when they report for duty for just such a reason. This is a really myopic and senseless criticism of Biden.

4. “He has failed to avenge the Kabul airport attack that killed 183 people, including 13 Americans.” That happened in August 2021. George W. Bush failed to get Osama bin Laden at all and it took until May 2011, nearly 10 years, for President Obama to get him and avenge 9-11. It took over 34 years to get the guy accused of making the bomb that brought down Pan Am Flight 103 over Lockerbie, Scotland.

The ISIS-K bad guys in Kabul will get their day of reckoning for their murderous bombing. Criticizing Biden for not having captured or killed them yet is senseless.

1. “He slow-rolled military aid to Ukraine out of fear of provoking Vladimir Putin.” Thiessen cannot be so simple minded that he thinks that military aid to Ukraine is a single issue challenge, right? Maybe I’m wrong about that.

Maybe he thinks that poking Putin in the eye over and over would never have bad consequences for us. Nevertheless, we’ve been the biggest cheerleader for Ukraine and provided far more munitions than anyone else. Plus, we supplied the leadership for sanctions on Russia. So far Putin hasn’t been provoked into using nukes. Maybe Biden’s thoughtfulness and caution are the stuff of wisdom.

Oddly, Thiessen’s headline about “slow-rolled military aid to Ukraine” sounds like a positive to me, not one of Biden’s 10 worst.

Throughout our ongoing Constitutional crisis that is Donald Trump and his extremists, posts like Thiessen’s have come in a constant torrent and most are free of critical thought. Their raison d’être (literally, “reason for being;” their purpose) is to tear down, to be cruel.

I have described such people, most often in an effort to understand and explain their behavior. To be honest, sometimes it was just to hit back. But the report of the January 6 Committee is out, so I leave it to those patriotic people of the Committee and to bright, insightful observers like Tom Nichols and Peter Wehner to give further insight into the Cruellas.

I don’t know if Mr. Thiessen is an extremist, but his knuckle headed criticism of Joe Biden suggests a commitment to outrage and cruelty, rather than to reasonable thinking and solutions. I’ll read his offerings again someday, concurrent with welcoming other extremists – when they atone for their sins as fervently and as publicly as they committed them.

The New Year

My friend Mardy Grothe publishes a weekly post focused on literature, language and thinking. Suffice it to say that I read his post first every Sunday.*

Last Sunday he quoted Zora Neale Hurston from her 1937 book, Their Eyes Were Watching God, in which the narrator says, “There are years that ask questions and years that answer.” Then Mardy challenges us, asking, Will 2023 Answer Questions for You, or Ask Them?

Responding in the political arena, we face enormous challenges, most alarmingly from extremists who want to “tear it all down,” as Steve Bannon exclaimed. That positions those whose sole raison d’être is to grab power as little more than obstructionists at best and sideshow executioners at worst. Will their behavior answer or ask questions for/of us?

It seems to me that seeking answers must focus on the questions of how to deal with entrenched outrage and anger and still make progress on our national challenges. That makes me wonder where Democrats will focus. It’s very easy to simply be reactionary, but most commonly that’s only momentarily satisfying, while remaining unproductive of anything worthwhile.

2023: A year of questions or answers? What will be our raison d’être in this new year?

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* To subscribe, send an email to Mardy at: [email protected] with “Subscribe” in the Subject area.

————————————

  • 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, so don’t bug me about it.
  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.

For The Hand Wringers


Note: No post on Sunday. We’ll reconnect in a week.

We have hand wringers on the right .  .  .

.  .  .  complaining that all Democrats are socialists, that Biden is a useless wimp, that a Congress controlled by Democrats hasn’t and can’t accomplish anything for real Americans and that Biden is a pitiful Lex Luthor who will be slain by some right wing Superman. Plus, he’s too old now, much less for a second term. Besides, he stutters.

We have hand wringers on the left .  .  .

.  .  .  complaining that Biden is timid, that he always falls short of the progressive desires of the majority of Americans, that he isn’t a strong leader, that he has accomplished a lamentable not much, that he’s an inept presenter and that he’s too old now, much less for a second term.

That’s just a small sample of the wailing. Doubtless, you can add to one or both of those recitations of hand wringing material. But there’s just one thing:

The record of Biden and the Democrats in Congress is shockingly, fantastically stellar.
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Here’s a partial list of what’s been accomplished in just 23 months. This list is lifted directly from Biden-Harris Accomplishments:

  • Biden passed the Inflation Reduction Act – to bring down costs, reduce the deficit, and take aggressive action on climate – all paid for by making sure the largest corporations and billionaire tax cheats finally pay their fair share in taxes. Yippee! And no, your taxes won’t go up even a penny if you make less than $400,000 per year. Plus it lowers health care costs for millions of families and allows Medicare to negotiate drug prices for the first time*, caps seniors’ out-of-pocket spending for prescription drugs at $2,000 per year and ensures no senior on Medicare will pay over $35 per month for insulin. Thirteen million Americans, covered under the Affordable Care Act, will see their health insurance premiums reduced by $800, plus this act takes the first steps to fight global warming.
  • Biden passed the PACT Act – the largest single bill in American history to address our service members’ exposure to burn pits and other toxins. Can you believe that it took Biden’s leadership and an act of Congress to take care of our poisoned vets? Note that 11 Republican senators and 174 Republican representatives voted against this bill. Hey wait: that’s the same number of Republican extremists who tried to clog up the electoral college vote certification on January 6 after they and the Constitution had been threatened by the January 6 mob.
  • Biden passed The CHIPS and Science Act – this bill will accelerate semiconductor manufacturing in the United States. That means that we won’t have to count on a possibly hostile foreign government for the microchips that control our smart munitions. Plus it brings thousands of manufacturing jobs back home.  Biden did that.
  • Biden passed the Bipartisan Safer Communities Act – breaks a 30-year streak of reprehensible federal inaction to deal with gun violence. Requires people under 21 to undergo enhanced background checks, closes the “boyfriend loophole,” provides funding to address youth mental health and takes a step to curb “ghost guns.” Plus Biden issued numerous executive orders to curb gun violence. Makes me wonder how many more Sandy Hook, Parkland and Club Q massacres we’ll need before we all rise up in furious demand for a crackdown on weapons of death. Still, this is a step in the right direction.
  • Biden has revitalized our alliances and restored America’s position of leadership on the world stage – Trump had undermined our alliances and our influence in world affairs. Biden has restored our relationships with allies to the point that they are all in supporting Ukraine in its battle for freedom and democracy against Russian oppression and the United States is the leader. Plus he’s gotten tough with China.
  • Biden ended our longest and arguably our dumbest war – Three presidents refused to take the dirty, messy, horrible but necessary step of ending that unwarranted 20-year war in Afghanistan. There was never a remote possibility of ending it cleanly, but Biden had the courage to do it. It will take years to meet our obligations and keep all of our promises there – that’s the dirty, messy part – but the plug needed to be pulled. American troops are no longer in harms way thanks to Biden’s leadership.
  • Biden passed an expanded version of the Violence Against Women Act, now reauthorized through 2027 – 172 Republican representatives and 22 Republican senators voted against this bill. How could it be controversial to protect women from domestic violence and sexual assault? Trump let the original act expire. Biden set it right again.
  • Biden got the American Rescue Plan through Congress – delivered 500 million shots in arms to protect Americans from COVID-19 and put a few bucks into citizens’ wallets, too, this at a time when people were hunkered down and income was constricted. Plus this act expanded the Child Tax Credit to put a few more bucks into the wallets of parents.
  • In 2021, the U.S. economy added over 6.5 million jobs – the greatest year of job growth under any President in history. At the same time, we saw the largest annual decline in unemployment ever recorded and the strongest year of GDP growth since 1984. Biden’s hands were in the reins for all that.
  • Biden passed the Bipartisan Infrastructure Law – It’s finally infrastructure week! We’ve been waiting for this for decades. Provides funding for critically needed repair of bridges and roads, replaces every lead pipe in America, upgrades our ports and airports and expands broadband access to all. It also includes the largest federal investment in public transit ever and the biggest investment in Amtrak since its creation.
  • Passed the Omnibus Spending Bill – keeps the government in business, funds support to Ukraine, reforms the Electoral Count Act to prevent another coup like January 6th and far more.
  • If you have a problem with any of that you are in the minority of people most likely to be dedicated to misery.
  • Key Rule: Misery is optional. So is happiness.

You get the point. And you get the benefits. So, please, America, stop wringing hands because things aren’t getting done or done fast enough to suit you or that they aren’t perfect. Lots of really good things are getting done, plus, “Don’t let the perfect be the enemy of the good.” Thank you, Barack Obama for the reminder. He was right then and he’s still right.

President Biden has accomplished an astonishing list of great stuff for America and Americans in a very short time. As important is our sense of ourselves. Read David Brooks’ comments following President Zelinskyy’s address to Congress, Biden’s America Finds Its Voice. Many thanks to reader and friend David Lindgren for his pointer to Brooks’ piece.

We’re just starting to crawl out from under the oppression of unreality and intentional cruelty that has afflicted us for so long. At last we have an opportunity to feel proud once again. It’s time to recognize the reality of what President Biden has accomplished.

Not everything is fixed. We have much work yet to do and that will always be true. So, use those wringing hands to instead roll up your shirtsleeves and let’s get to work in this new year.

Here’s to a better America this year and every year – that “more perfect union” thing.

Most important
Happy Birthday Beautiful Marilyn!
.

———————————

Former Rep. Billy Tauzin (R-LA), income maximizing expert.

* “[Former Rep. Billy Tauzin (R-LA)] crafted a[n amendment to the] bill to provide prescription drug access to Medicare recipients [Part D], one that provided major concessions to the pharmaceutical industry. Medicare would not be able to negotiate for lower prescription drug costs and reimportation of drugs from first world countries would not be allowed. A few months after the bill passed, Tauzin announced that he was retiring from Congress and would be taking a job helming PhRMA for a salary of $2 million.”

PhRMA is the lobbying arm of the pharmaceutical industry. That $2 million salary was a 7,110% bump in pay for Tauzin. Now you know how he earned it. Yes really.

————————————

  • 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, so don’t bug me about it.
  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.

Integrity


You’re Not God, Mob Boy

Click me

So, you want this to be a Christian nationalist country, a Christian theocracy. Got it. You’re all about Jesus and have carefully picked Bible quotations, as well as excerpts from the Federalist Papers that you think justify your actions. Got it. You’re certain that some elite others are a cabal of Satanic and cannibalistic sex-trafficking pedophiles bent on world domination and you believe other conspiracy claims, too. Got it. You believe that the ends you desire justify whatever means you employ. Got that, too. But consider just a couple of things.

Like that your opinion doesn’t eclipse mine. That your fantasies about truth and reality don’t replace actual truth and reality. That your accusations in the absence of any evidence aren’t the same as conviction. There’s still that “prove it” thing, you know?

The unavoidable result of your certainties is you threatening violence and murder and brutalizing others. That is prima facie evidence that you believe that you have the right to end human lives if, gosh, someone doesn’t toe your line. But that right isn’t yours anywhere or under any circumstances. That belongs to a higher power and I’m absolutely certain that you are not God.

Honestly – and you can take this as gospel – your claims of being a Christian were demolished the moment you picked up your phone to threaten an election worker, or brought your AR-15 to the Michigan Capitol Building to intimidate government workers, or as you chanted, “Hang Mike Pence,” or when you climbed the Capitol steps and vandalized the building, or when you shouted hatred at a school board meeting or when you showed up for Trump rallies and cheered the abuse of protesters, or when you drove your pickup truck with its oversized hatred flags and tried to run President Biden’s campaign bus off the highway, and every time you repeated Trump’s lies. Really, now, would Jesus do any of that?

You have no right to threaten or harm anyone, no matter how pissy you become when you don’t get your way or how puffed up you feel when you fondle your assault rifle or inflict your cruelty on others. One honest look in the mirror will tell you that this isn’t 1776, you’re no Minuteman and vengeance isn’t yours. You’re not God, Mob Boy. You’re just a guy who put his integrity into long term storage.

And all of that goes for you seditious members of Congress who are trying to tear down our democracy. It goes to your shame for violating your oath of office. You remember that “protect and defend” stuff about the Constitution, right? The stuff to which you swore with your hand on a Bible? You remember integrity, don’t you? Perhaps not.

Like the Mob Boys, you can take one look in the mirror and you’ll know instantly that you’re no nation’s Founder, no “originalist.” You’re just a thug in a suit and you’ve abandoned your integrity.

“The fault, dear seditionist, is not in your stars, but in yourselves .  .  .  “

With apologies to William Shakespeare, Cassius and the entire ensemble of Julius Caesar.

The Important Part Is .  .  .

Elise Stefanik in June, with jellyfish Kevin McCarthy proudly looking on

Elise Stefanik, the No. 3 Republican in the House, Is all about getting Republican women elected to Congress. She’s raised over $4 million for her “Elevate PAC” to grease those wheels. In a most interesting piece in The New York Times she bragged,

“My own experience going through impeachment No. 1, where I played an outsized role on the House Intelligence Committee — we built up a national donor list,” Stefanik said Wednesday at a briefing at the Republican National Committee about the midterm elections. “We’ve been able to have that donor list support other women candidates across the country.”

Let’s see, there was an impeachment of the President of the United States going on and in her “outsized role on the House Intelligence Committee” Stefanik’s key accomplishment was building a donor list. Not dealing with the President’s extortion of the president of Ukraine. Not ensuring integrity in the highest office. Not solidifying of our democracy. Creating a donor list!

This is the woman who replaced Liz Cheney as the No. 3 Republican in the House.

One more time, Elise, and this is about your integrity: the most important part of what you do is .  .  .  what?

The Economy

In an effort to combat inflation, the Fed has raised the interest rate by 3/4 of a point in each of the past 3 months, which has caused interest rates on the street to more than double and investors to get a serious case of the heebie-jeebies. They’re fearing a recession, a nearly inevitable outcome when business investment drops off, which it does when money becomes too expensive to borrow.

The interest rate is the only tool in the Fed’s inflation fighting toolbox, but it is a bludgeon of a tool and is excruciatingly slow to combat inflation. What big interest rate hikes are exceedingly good at doing is stimulating recession and putting people out of work. The estimates are that about 1,000,000 people will lose their jobs due to the Fed’s recent wild swings. They figure we’ll stop buying as much stuff – that’s especially true for the newly unemployed, of course – and that will induce lower prices which will curb inflation.

Some day.

But reduced inflation will come at the cost of misery to a great many people, especially to the 1,000,000.

Our inflation is like that of every other developed country. We’re suffering the enormous discombobulation of the logistics system for everything from raw materials to finished goods and that reduced supply is sustaining a glut of unmet demand. That raises prices. That’s largely due to Covid-19 throwing sand into the machinery of the commerce engine worldwide, as well as the huge disruptions caused by Putin’s adventure into AtrocityLand.*

There are other drivers of inflation, too, including the breathtaking profiteering by shipping monopolies, fossil fuel companies, retailers with margins 30% above normal and others who are charging more for a classic reason: because they can. Fossil fuel profiteering has caused soaring prices at the gas pump and that has contributed significantly to inflation. But that, like war and the disrupted supply chain, is unrelated to the Fed’s interest rate hikes.

We’re in for some very turbulent times, as the Fed attempts to club our economy back to 2 – 3% inflation. Bummer for newly unemployed people and for all who can’t get that first job. Look for a huge spike in the number of people living in Mom’s basement, as well as some world class politically stupid claims.

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* The O.E.C.D. estimates the war’s toll on the global economy to be about $2.8 trillion for 2023.

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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:
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Fire the bastards!
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The days are dwindling for us to take action. Get up! Do something to make things better.

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Copyright 2024 by Jack Altschuler
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