Former President Donald Trump ripped President Joe Biden’s push for electric vehicles, calling it a “hit job” on Detroit and the auto industry.
Trump spoke in Clinton Township, Michigan, to a crowd of union workers instead of attending a debate at the Reagan Presidential Library in Simi Valley, California, that aired on Fox Business Network Wednesday. Trump currently leads a 42.2% lead over Republican Gov. Ron DeSantis of Florida among Republican primary voters in the Real Clear Politics average of polls from Sept. 14 though September 26, drawing 56.6% of the vote, compared to 14.4% for the Florida governor.
WATCH:
“Biden’s mandate isn’t a government regulation. It’s a government assassination of your jobs and of your industry. The auto industry is being assassinated, and it makes no difference what you get,” Trump told those attending the speech. “I don’t care what you get in the next two weeks or three weeks or five weeks, they’re gonna be closing up and they’re going to be building those cars in China and other places. It’s a hit job on Michigan and on Detroit.”
The UAW walked off the job at three auto manufacturing plants in Ohio, Michigan and Missouri at midnight Sept. 15, after failing to reach an agreement with Ford, General Motors and Stellantis (formerly Chrysler). The union sought a four-day work week and a 36% salary increase over five years, according to Bloomberg.
“But on the electric vehicles, this year to comply with the mandate, a sixty thousand loss. They’re gonna lose sixty thousand dollars for every car produced. That sounds like a great deal, but honestly, for UAW and for auto workers and for everybody and for the country, it’s not sustainable,” Trump said.
Biden signed the Inflation Reduction Act, which spends $370 billion to combat climate change, into law in August 2022. The legislation is loaded with green energy provisions, including a $7,500 tax credit for electric vehicles.
Despite Biden’s push for electric vehicles, the Biden administration blocked efforts to start mining for copper and nickel near the Boundary Waters Canoe Area in January, the Wall Street Journal reported. In addition, the Environmental Protection Agency made a determination Jan. 31 that would block the mining of 1.4 billion tons of copper, gold, molybdenum, silver and rhenium in Alaska in order to protect salmon.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-09-28 09:52:162023-09-28 09:52:16‘A Hit Job On Michigan And On Detroit’: Trump Calls Biden EV Push A ‘Government Assassination’ Of Auto Jobs
But China still remains the second-largest foreign holder of US Treasury bills, having been surpassed by Japan in mid-2019
By: Frank Chen, South China · Post 19 Sep, 2023
Amid persistent concerns over the safety of its overseas assets – most of which are US dollar-denominated – China has slashed its holdings of United States Treasury bills for the fourth straight month.
[..]
The world’s second-largest economy offloaded US$13.6 billion worth of US debt in July, bringing China’s holdings to US$821.8 billion, according to the latest data from the US Department of the Treasury. China’s overall holding of US debt remains at a 14-year low, after reaching that level in June.
Beijing has been continuously cutting China’s US debt holdings since early 2022, with two exceptions – in March of this year and July 2022, when it increased holdings by US$20.3 billion and US$320 million, respectively.
Beijing remains the second-largest foreign holder of US Treasury bills after being surpassed by Japan in June 2019.
The reduction in US Treasury bills holdings between March 2022 and this past July – China dumped US$191.4 billion, Japan slashed US$116.5 billion, Ireland cut US$44.4 billion, Brazil shed US$8.6 billion and Singapore got rid of US$4.8 billion – was partly because of the slew of aggressive US interest rate hikes that have dampened bond prices.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-09-24 19:51:342023-09-24 19:51:34BIDENOMICS: China Dumps Nearly $500 Billion in U.S. Bonds
We’re living through one of the greatest housing crunches the U.S. has ever known. It’s resulted in record numbers of homelessness and entire generations certain they will never become homeowners, that critical milestone of the middle class. But there is a simple solution to the problem. The answer to our housing crisis is to legalize duplexes, triplexes, and other forms of light-touch density (LTD) housing, allowing the market to build more affordable housing options for more Americans.
The reason this is the solution to our housing crisis is simple: It increases the supply of housing for middle-income households, when what we have now is the opposite—long-standing exclusionary zoning laws that limit most areas of the nation to single-family detached homes, banning LTD homes.
LTD housing can take many forms: duplexes, triplexes, quads through eight-plexes, townhouses, cottage courts, accessory dwelling units, and other similar structure types. By allowing more units on a single parcel of land, LTD is both naturally affordable and naturally inclusionary, creating upward mobility naturally through a more accessible housing market. All it takes is repealing the laws that ban it.
This is already happening across the nation. California, Austin, and Vermont have each passed legislation entitled HOME. In California, it stands for Housing Opportunity and More Efficiency; in Austin, Home Options for Middle-Income Empowerment, and in Vermont, Housing Opportunities Made for Everyone. What these and other enactments have in common is a recognition that the solution to our nation’s worsening housing crunch is to repeal zoning laws that only allow the building of single family detached housing.
How did we end up with such laws? If you look back over the first 70 years of the 20th century, housing was generally abundant and affordable to people of all classes, though racial and ethnic segregation was of course rampant. As renowned planner John Nolan observed in 1917, building a range of housing types on varying lot sizes helps to ensure that new housing could be built that wage earners could afford. For example, in New England in 1940, duplexes, triple deckers, and four-plexes comprised one-third of the region’s housing stock and offered naturally affordable housing to the masses. Boarding homes were common as homeowners could help pay their mortgage by letting out rooms for a small fee (much like Airbnb today). For newcomers or those who had fallen on hard times, single-room occupancy buildings around bus and train stations provided a safety net in the form of cheap short-term housing. In 1970, even San Francisco was affordable.
But the economic inclusiveness and the threat of racial integration that came with these housing variations also posed a potential threat to the status quo—one that proved to be unbearable to certain segments of our government that were invested in segregation. They realized that zoning laws could be used to raise prices and rents, making homes unaffordable to Blacks, Jews, and Eastern and Southern Europeans. At the encouragement of the U.S. Commerce Department, states and municipalities started to adopt zoning laws in the 1920s, which restricted most of the nation’s residential land to more expensive single-family detached homes, while outlawing or excluding other, more affordable housing options.
These zoning policies ultimately replaced private property rights with vague and nebulous communal rights—think of the Not-In-My-Backyard or NIMBY movement—and the opinions of city planners. In so doing, they made homes and land scarce and expensive. In short, land use regulations prevented the market from building more housing, especially in high-demand places where people with well-paying jobs lived.
With the market constrained, demand eventually started to outstrip supply in high-demand cities. Home prices started to rise faster than incomes, leading to increased unaffordability. Across the country, once-affordable neighborhoods gradually priced out existing residents and potential newcomers; high prices make even older, smaller homes unaffordable to moderate-income buyers and renters.
Nowhere is this trend more visible than in California, which had home prices relative to incomes that was about on par with the national average in the 1970s. Since then, a booming economy coupled with restrictive land use regulations gave bureaucrats and NIMBYs the ability to delay for years or even stop the market from responding to any additional demand. Today, California’s home prices relative to incomes are about double the rest of the country.
To tackle today’s housing crunch, we need to build more housing to undo the damage done by misguided zoning policies. The key is to return to the light-touch density housing types of the early 20th Century.
By implementing by-right LTD across the country, an estimated 930,000 additional housing units could be created annually (depending on the maximum allowed density) over the next 30 to 40 years. This moderate density increase would expand the construction of more naturally affordable and inclusionary housing, thereby keeping home prices more aligned with incomes and keeping housing displacement pressures low.
Houston is an example of how a city can experience rapid population and wage growth and not sacrifice affordability. In 1998, as reported by Zillow, mid-tier home prices nationally and for the Houston metro were the same, while Los Angeles’ metro’s homes were 76 percent above the national level. Houston implemented a LTD law authorizing much smaller lots in 1998. By 2023, homes in the Houston metro area were 13 percent below the national level, while Los Angeles’ had risen to 160 percent above the national level. This goes a long way toward explaining why LA’s homeless rate in 2021 was 11 times that of Houston’s.
Rather than disciplined, knowledge-based policy solutions, others choose the path of scapegoating investment firms that buy up single-family homes for their unaffordability. But this reasoning fundamentally misdiagnoses the problem. While it’s true that such investor purchases have recently increased, this narrative ignores the fact that the rise in home prices long pre-dates this trend. Moreover, 50 percent of the purchases of single-family homes were made by people who own less than 10 homes, in other words, mom and pop investors. Just 10 percent are owned by mega-investors with 1,000 properties or more, as CoreLogic pointed out.
This is all cause for optimism. Knowledge based solutions are prevailing. States such as California, Washington, Oregon, Vermont, and Montana and cities such as Austin, Minneapolis, and Charlotte have also already passed reforms scaling back single-family detached zoning laws and legalizing LTD zoning. Many more jurisdictions are considering similar reforms.
Legalizing light-touch density is the most effective and politically palatable way to solve our housing crisis. LTD zoning unleashes the private sector to close the housing supply gap and provide more housing opportunities and affordable homes for more Americans.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-09-21 15:51:162023-09-21 15:51:16There’s an Easy Fix That Would Solve Our Housing Crisis: Light Touch Density
Inflation rose significantly in August, marking the second month in a row that inflation has ticked up, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.
The Consumer Price Index (CPI), a broad measure of the prices of everyday goods, increased 3.7%on an annual basis in August, compared to 3.2% in July, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.3% year-over-year in August, compared to 4.7% in July.
“This will be the second acceleration in a row, showing that inflation is anything but dead,” E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation. “Although we’ve been told that inflation has been trending back towards 2%, that’s false. If anything, the annualized monthly data show it was trending towards 3% and is now climbing again.”
The rise in inflation was partly driven by an increase in the price of gasoline, accounting for half of the total gain, with the energy index rising 5.6% for the month. The second largest contributor to the increase was the price of shelter, which has risen for the past 40 months in a row.
The Federal Reserve, in an attempt to lower inflation, has raised its federal funds rate to the highest point since 2001 after a series of 11 rate hikes, bringing the current rate to a range of 5.25% and 5.50%. The Fed will announce on Sept. 20 whether it will raise rates again at the conclusion of its Federal Open Market Committee meeting.
Real median household income down 2.3% in 2022; poverty level and rate were flat Y/Y; supplemental poverty measure jumped 4.6 percentage points: pic.twitter.com/e30ns3jrBL
Jerome Powell, chair of the Fed, hinted in August at the Jackson Hole Economic Symposium that the Fed will raise rates if factors like high inflation, a hot labor market and sustained growth continue.
The job market has cooled in recent months, with August only adding 187,000 new nonfarm payroll jobs. The number of jobs added for June and July were both revised down to reflect further softening, adding 80,000 and 30,000 fewer than was previously reported, respectively.
GDP grew less than previously thought for the second quarter of 2023, with the economy growing 2.1% instead of the 2.4% that was originally reported.
“I expect the Fed will continue with a combination of pauses and 25-basis-point hikes for several more months, while continuing to slowly run off the balance sheet,” Antoni told the DCNF. “To put the inflation of the last two and a half years in perspective, roughly all of the household net wealth generated over that time has been confiscated by the government through the hidden tax of inflation.”
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
The following study is from the Center for Immigration Studies that looks at the decades-long decline in labor force participation among the U.S. born men and women and its implications for immigration policy.
Share of U.S.-born men in the labor force declined dramatically since the 1960s
Washington, D.C. (August 31, 2023) – A new analysis of government data by the Center for Immigration Studies shows the dramatic decline in the labor force participation of working-age U.S.-born men over the past six decades nationally and in California, particularly for men without a bachelor’s degree. One of the arguments for allowing in so many immigrants is that the low unemployment rate means that no potential workers are available. But this ignores the massive increase in the number of working-age (16 to 64) people not in the labor force in states like California who do not show up as unemployed because they are not actively looking for work.
“There is consensus that the enormous decline in labor force participation in states like California is contributing to serious problems such as social isolation, drug addiction, and crime,” said Steven Camarota, the Center’s Director of Research and lead author of the report. “It seems very unlikely we will ever address this issue if immigration remains high and businesses can simply turn to immigrant workers to fill jobs.”
Among the Findings:
The labor force participation rate of working-age (16 to 64) U.S.-born men in California fell from 91 percent in 1960 to 82 percent by 2000 and was just 75 percent in April of this year.
Among U.S.-born women (16 to 64) in California, 68 percent were in the labor force in April 2023, down some from the 70 percent in 2000. The labor force participation of U.S.-born women California was traditionally much lower than men’s, but increased dramatically after 1960, peaking in 2000 and remaining roughly the same since.
Research shows the fall-off in labor force participation is associated with profound social problems such as overdose deaths, crime, suicide, and welfare dependency — to say nothing of the fiscal and economic damage.
At the same time that the labor force participation rate of the U.S.-born was falling, the immigrant share of the overall labor force in the state tripled from 11 percent in 1960 to 34 percent in 2023.
Working-age immigrant men in California have not experienced the same decline in their labor force participation, though the rate did decline from 91 percent to 87 percent between 1960 and 2000, it has changed little since 2000.
Among Men Without a Bachelor’s Degree:
The participation rate of U.S.-born men (16 to 64) in California without a bachelor’s fell from 90 percent in 1960, to 78 percent in 2000, to just 68 percent in 2023.
The participation rate of “prime age” (25 to 54) U.S.-born men in the state without a bachelor’s declined from 97 percent in 1960, to 89 percent in 2000, to just 81 percent in 2023.
While the overall participation rate of U.S.-born women (16 to 64) overall has changed relatively little since 2000 in California, the rate for U.S.-born women without a bachelor’s declined significantly from 67 percent in 2000 to 60 percent by 2023.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-08-31 14:51:282023-08-31 14:51:28Share of U.S. Born Men in the Labor Force Declined Dramatically Since the 1960s
The Chinese parent company of Gotion Inc., which intends to build two electric battery plants in Michigan, employs 923 Chinese Communist Party (CCP) members, including its CEO, according to its 2022 ESG report.
The Fremont, California-based Gotion Inc. — which is “wholly owned and controlled” by Gotion High-Tech Power Energy Co., according to a Foreign Agents Registration Act filing — seeks to “invest $2.4 billion to construct two 550,000-square-foot production plants” for electric vehicle (EV) batteries in Big Rapids, Michigan, Fox News reported.
Michigan Democratic Gov. Gretchen Whitmer supports Gotion’s plan, and the Biden administration approved the project in June. However, some Republicans have raised red flags over Gotion’s CCP ties through its parent company Gotion High-Tech.
While Gotion Inc.’s representatives deny CCP influence, Chinese-language documents show its Hefei-based parent company is led by a CCP member and employs hundreds more of them.
“Gotion High-Tech founded a CCP branch in 2010 that was upgraded to a CCP committee in 2014,” reads Gotion High-Tech’s 2022 ESG Report. “The CCP committee’s subunits are two CCP general branches and 11 party branches, currently with 923 CCP members, among which over 50% hold master’s degrees or higher.”
Gotion High-Tech’s CEO, Li Zhen, is also identified as the party secretary for the firm’s CCP committee within a section of the 2022 ESG report highlighting the company’s 2022 “party building work situation.”
“The company’s party secretary for its CCP committee, chairman of the board of directors, Li Zhen, led a portion of CCP member representatives, company leader groups and every level of core personnel on a road trip to Anhui province’s Jinzhai Revolutionary Martyr’s Memorial Tower, to tour the Red Army Memorial Hall and Jinzhai Revolutionary Museum,” the firm’s ESG report states.
Questions about Gotion’s CCP-ties arose after The Midwesterner reported that Gotion High-Tech’s “Articles of Association” state that: “The Company shall set up a Party organization and carry out Party activities in accordance with the Constitution of the Communist Party of China. The Company shall ensure necessary conditions for carrying out Party activities. The secretary of the Party committee shall be the chairman.”
In August 2023, Politico reported that Gotion’s North American manufacturing vice president Chuck Thelen criticized those who cited this language in the China-based parent company’s Articles of Association.
Thelen, Politico reported, has insisted that there is no such language in the U.S.-based company’s articles of incorporation. Thelen said the Chinese Communist Party has no presence in the North American company.
“‘The rumors that you’ve heard about us bringing communism to North America are just flat-out fear-mongering and really have nothing based in reality,’” Politico quoted Thelen as saying.
Likewise, an unnamed spokesperson for Gotion told Fox News: “Gotion Inc. makes it very clear in the [Foreign Agents Registration Act] filing that it is not supervised, directed, controlled or financed by any foreign government or foreign political party. … It’s unequivocally spelled out in the FARA document.”
However, lawmakers remain concerned, given that Gotion’s proposed Michigan battery plant will “be located within 60 miles of military armories and 100 miles from Camp Grayling, the country’s largest U.S. National Guard training facility,” Fox News reported.
Camp Grayling occupies 148,000 acres and hosts live-fire combat training exercises, according to its website.
Gotion did not respond to multiple requests for comment.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-08-31 14:51:272023-08-31 14:51:27Chinese Parent Behind Company Building Michigan Battery Plants Employs 923 CCP Members
Dutch legal philosopher Mrs. Eva Vlaardingerbroek spoke recently at an American farmers convention. Her speech should be seen as a warning for the U.S.
It’s a very good speech about what’s the situation for Dutch farmers right now, what is coming to America, and with excellent questions of the American farmers at the end.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-08-24 19:52:122023-08-24 19:52:12VIDEO: The Global War on Farming—Control the Food, Control the People
Inflation rose in July after steadily declining from a high of 9.1% in June 2022, according to the latest Bureau of Labor Statistics (BLS) release on Thursday.
The Consumer Price Index (CPI), a broad measure of the prices of everyday goods like energy and food, increased 3.2%on an annual basis in July, compared to 3.0% in June, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.7% year-over-year in July, compared to 4.8% in June.
“Inflation has become much more ingrained in the economy than the White House, Congress, or the Fed want to admit,” E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation. “Combined with slowing economic growth, we have the perfect recipe for stagflation.”
The largest contributor to the increase was shelter, which rose 0.4% for the month of July and contributed to over 90% of the total increase in inflation, according to the BLS.
The Federal Reserve, in an attempt to slow inflation, raised interest rates for the 11th time since March 2022 in July, bringing the Fed’s federal funds target rate within a range of 5.25% and 5.50%. The rate is the highest since 2001.
Fed Chair Jerome Powell remarked after the July Federal Open Market Committee meeting that he did not believe that the inflation rate would return to the normal level of 2% until 2025. He noted that interest rates will be lowered before the inflation rate reaches that level.
Aug is off to a great start – financial conditions loosen even further… Is it going to take another banking crisis to get us to where we need to be? pic.twitter.com/BsbtjplwtB
“I think Powell is right when he says inflation will not return to 2 percent until 2025,” Antoni told the DCNF. “The Fed under his chairmanship simply doesn’t happen the stomach to fight inflation. Given today’s interest rates and current economic conditions, the Fed’s balance sheet is about $5.3 trillion too big. Powell lacks the will to sell off that much in assets.”
The U.S. added 187,000 jobs for the month of July, 13,000 fewer than economists expected, and the unemployment rate fell to 3.5%. The number of jobs for the months of June and May was revised down by a cumulative 49,000 jobs.
The U.S. economy grew at a rate of 2.4% in the second quarter of 2023, surprising economists who anticipated a more modest expansion of 2%.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-08-12 10:51:382023-08-12 10:51:38Interest Rate Hikes Fail To Pump The Brakes As Inflation Rises
Americans are paying far more to offset the costs of inflation since President Joe Biden took office than they pay toward federal income taxes, according to data calculated by the Daily Caller News Foundation.
Average hourly earnings rose from $33.60 per hour in June to $33.74 per hour in July, but when adjusted for inflation since the beginning of Biden’s term as president in January 2021, real wages have failed to keep up, resulting in $4.62 less per hour when adjusted, according to data from the Bureau of Labor Statistics and calculated by E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget. At the average hourly rate for Americans of $33.60, workers pay $3.08 per hour in federal income taxes, far less than what inflation has cost the average worker, according to data calculated by the DCNF.
“Bidenomics can be defined by government spending, borrowing, and printing too much money,” Antoni told the DCNF. “That’s also the recipe for inflation, so the Biden administration’s policies are directly to blame for the inflation tax, a clear violation of Mr. Biden’s promise not to raise taxes on those making less than $400,000 a year.”
“But this is ultimately about policy, and not politics,” Antoni continued. “Plenty of congressional Republicans voted for excessive spending over the last three years and must share some of the blame for our current stagflation. Notwithstanding that fact, Biden is clearly the bigger sinner here, constantly pushing for more spending and driving the nation’s finances into the ground.”
First the headlines: CPI: Y/Y 3.2%, M/M 0.2% Core: Y/Y 4.7% (over twice Fed’s target), M/M 0.2% Inflation has outpaced wage growth almost every month of Biden’s presidency, barely eking out growth in Jul: pic.twitter.com/RcYkmzOEYt
Inflation rose to 3.2% year-over-year in July, up from 3.0% in June after steadily declining from a high of 9.1% in June 2022. The largest contributor to that increase was shelter, which rose 0.4% for the month of July, totaling 90% of the increase in inflation.
“The Federal Reserve, which plans and executes US monetary policy, is responsible for the destruction of real wages since 2020,” Peter Earle, economist at the American Institute for Economic Research, told the DCNF. “The Federal Reserve’s massively expansionary policies throughout 2020 had far-reaching consequences. The winnowing of the dollar’s purchasing power is being felt by every citizen, but hits the poor and individuals on a fixed income far worse than most others.”
The Federal Reserve hiked its federal funds rate for the eleventh time since March 2022 in July, bringing the target rate within a range of 5.25% and 5.50%, the highest rate since 2001. Following the rate hike at the Federal Open Market Committee meeting, Fed Chair Jerome Powell remarked that inflation will not return to the target rate of 2% until 2025.
“Inflation is fundamentally a tax because it is a transfer of wealth from you to the government,” Antoni told the DCNF. “You continue paying that inflation tax until your wages catch up to inflation. At that point, your cumulative lost purchasing power will be equal to how much the government implicitly confiscated from you through inflation.”
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-08-12 09:51:462023-08-12 09:51:46‘Inflation Tax’ Is Higher Than Federal Income Tax
The credit card debt held by US shoppers surpassed more than $1 trillion for the first time ever as high inflation continues to drive up costs, according to a report published on Tuesday by the New York Federal Reserve.
Credit card balances grew by $45 billion in the second quarter of this year — rising from $986 billion at the end of the first quarter to $1.03 trillion by the end of the most recent three-month period, the New York Fed data shows.
“One trillion dollars in credit card debt is staggering,” Matt Schulz, chief credit analyst at LendingTree, told Fox Business.
“Unfortunately, it is likely only going to keep growing from here. What’s driving it is inflation, higher interest rates and just generally how expensive life is in 2023.”
The report found that Americans held a total of 578.35 million credit card accounts — a 5.48 million increase from the end of the first quarter.
Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.
During the second quarter, credit card balances shot up by $45 billion, or nearly 4.6%, to land at $1.03 trillion, according to the New York Fed’s latest Quarterly Report on Household Debt and Credit.
Rising credit card debt and auto loan balances helped to drive overall household debt levels up 1%, to $17.06 trillion for the quarter, the report showed. Overall household debt has spiked by $2.9 trillion since the end of 2019, before the pandemic.The New York Fed’s debt balances are nominal and not adjusted for inflation.
These increases are coming at a time when interest rates have quickly vaulted to a 22-year high.
CNN’s Jake Tapper: “I feel like I’ve been noting this for three years — President Biden is out there heralding such and such, and the American people disapprove overwhelmingly! Three years in, we’re still having this conversation!” pic.twitter.com/ODTYFrN9qN
Bud Light parent company Anheuser-Busch announced it will sell eight craft beer brands to a Canadian cannabis company amid continued fallout from Bud Light’s marketing partnership with transgender influencer Dylan Mulvaney.
The deal will see Anheuser-Busch sell the following beer brands to Tilray Brands, according to an Aug. 7 announcement: Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and Hiball Energy.
The deal is an all-cash transaction worth $85 million, according to an 8-K filing by Tilray, which indicates the transaction is expected to close at some point in 2023.
NEW: Transgender Bud Light influencer Dylan Mulvaney has cost Anheuser-Busch $27 Billion in value.
Former owner Billy Busch says Bud Light is no longer America’s beer and his father & grandfather “would have rolled over in their graves.”
The announcement comes amid continued Bud Light boycott pressures, which were sparked when Bud Light rolled out a personalized can featuring the face of Mr. Mulvaney, a male who identifies as a female.
Irwin Simon, chairman and CEO of Tilray Brands, said that the expected acquisition will elevate Tilray to the status of America’s fifth largest craft beer business and is part of the company’s efforts to further diversify into other markets than cannabis.
“Today’s announcement both solidifies our national leadership position and share in the U.S. craft brewing market and marks a major step forward in our diversification strategy,” he said in a statement.
Anheuser-Busch is selling off eight craft beer brands as the Bud Light boycott continues to tank the company.
Tilray Brands, the largest cannabis company in the world, will be purchasing the beer brands, which include Red Hook, Shock Top, Breckenridge Brewery, Blue Point Brewing…
Wayne Allen Root on his great Saturday Show Americas’ Top 10 on Real America’s Voice (a livestream program) tells the TRUTH about INFLATION — see article below. The Biden regime is lying to us by saying inflation has gone/eased up. Remember this as well – food & fuel costs are way undercalculated in the govt’s CSI and Inflation statistics.
Highly recommend you watch the Real America’s Voice (RAV) channel on livestream TV featuring real conservatives shows where hosts tell the truth rather than spread Obama 3/Biden lies like the LameStream media (including Fox) do every day. All you need is your internet and a smart TV to bring up RAV or a dumb TV and a livestream device like ROKU or Firestick. Consider saving big $$$ by getting off of cable TV (which supports many leftist apps and programs at your expense) and switching to livestream and watching only what you want to at little to no cost.
By Wayne Allyn Root
You’ve heard it all. “Inflation has peaked.” “Inflation is no longer a problem.” “Disinflation is now a greater threat.” “Inflation is 0.” These are the greatest hits of government propaganda and misinformation.
But this is serious fake news. This kind of lie affects the lives of the entire American middle class. The middle class is being sacrificed. This is the murder of the middle class.
I’m not a politician, economist, or member of the mainstream media. I’m a businessman in the real world. And in the real world where I live inflation is alive and well. Inflation is still roaring and soaring.
Let me give you just a few examples…
*When I go grocery shopping, the bills are through the roof. It doesn’t matter if the cost of bread, butter, eggs, cream cheese, meat, chicken, fish, and a hundred other items has stopped rising. That’s where the fraud comes in. The media quotes economists who say, “inflation has peaked.” Let’s assume that’s true.
Let’s assume in the past three years a cart of groceries has risen from $80 to $120 to $180 to $220. Which it has. So, does it matter if so far this year it hasn’t gone up? None of us could afford it when the groceries were $120, or $180. We certainly can’t afford it when they sit at $220. Whether they’re up this year is of no consequence.
My electric bill is soaring. Last July, my electric bill was $780.13. This July my bill is $989.20. I know because just paid it today. My math says this is an increase of over 25% in one year. Isn’t green energy great! Our electric company is using more and more green energy. That’s precisely why electric bills across the country are soaring. Green energy is simply unaffordable. It will drive us all to the poor house.
My natural gas bill for my home is soaring.
My water bill is soaring.
My fuel bill for my car is up again.
My property tax bill is up.
Since everything I buy at the supermarket, and big box retailers, and at online stores, and all the other places I shop are up dramatically, and we all pay sales tax on every item we buy, my sales taxes are up dramatically.
Have you gone out to eat at a restaurant lately? I’m a businessman. I go to business lunches and dinners 10 times a week. Every one of my meals is up dramatically from three years ago. Meals that used to cost $70 to $80 three years ago, now cost $125 to $150. Sometimes at the nicer restaurants in Vegas those same meals are hitting $200. And I don’t drink.
These prices are insane. I don’t know if they’ve gone up this year. But I know A) These prices are unaffordable…and B) They are ridiculously higher than three years ago.
My storage unit cost $1,200 per year only three years ago. And they gave me a 13th month free. Then last year they jacked up the price to $1,920 for the same storage unit- and eliminated the 13th month free. This year they jacked the price up to $2,208 per year. My math says that’s an increase of over 80% in three years.
My business P.O. Box fee is up dramatically.
My legal and accounting fees are higher than ever.
My health insurance, home insurance and car insurance are all soaring.
And thanks to Obamacare, my health insurance SUCKS. It seems every bill is on me (for me and my children). The bills are overwhelming. Every minute there is a new medical expense. And very little or nothing is ever covered.
I already paid for two kids in college. Soon two more will be starting. College costs are up through the roof.
I haven’t even discussed rent, or mortgage, or car payments, or credit card bills. Because of much higher interest rates, those are all up too.
And I just got back from my first vacation in a year. Every year I rent a home in Park City, Utah for my big family to fly in from all over the country. The cost to rent a vacation home was up by 50% over last year.
So, explain to me how “inflation is gone”…or “has peaked”…or “is no longer a problem”…or “deflation is the bigger threat.”
Those are all lies, fraud, propaganda and misinformation to protect the biggest fraud, liar and spreader of misinformation in world history…President Joe Biden.
Only three things are fact…
1) Every bill that matters to the typical American family is sky high…and up dramatically from three years ago. Inflation is destroying the great American middle class. That’s “Bidenomics.”
2) All of these costs were dramatically lower under President Donald J. Trump.
3) We had the perfect “goldilocks economy” under Trump: inflation was close to zero…interest rates were among the lowest in history…unemployment was among the lowest in history…economic growth was soaring…stocks were fantastic…taxes were lower…and we had peace throughout the world.
I’m a businessman living in the real world. Those are the facts.
Here’s one more fact…
Now, more than ever, we need President Trump back in the White House.
Wayne Allyn Root is known as “the Conservative Warrior.” Watch Wayne’s TV shows- “America’s Top Ten Countdown” on Real America’s Voice TV Network on Saturdays at Noon ET…and Wayne’s daily TV show on Lindell TV 2 at 7 pm ET at FrankSpeech.com. He is also host of the nationally-syndicated “Wayne Allyn Root: Raw & Unfiltered” on USA Audio Network, daily at 6 pm ET. Wayne’s latest book is a #1 bestseller, “The Great Patriot BUY-cott Book.”
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-08-05 14:51:522023-08-05 14:51:52Inflation is NOT Gone or Reduced – Just Another Biden Regime Lie
In an interview, Elon Musk shared sharp criticism of environmental, social, and corporate governance (ESG) principles, characterizing them as a reframe of on old communist ideas.
Elon Musk slammed environmental, social, and corporate governance (ESG) during an interview late last week, saying it was effectively a “rebranded” form of communism.
Musk made the remarks during a Friday discussion on an X Space while discussing corporations investing in implementing the woke agenda into their firms.
“We don’t basically do some sort of like bizarre, like communism rebranded thing, which is like a lot of what ESG is and to be inflicted upon corporate America without the knowledge of the actual shareholders, which is what’s going on!” Musk said.
“The big firms that you hear are BlackRock, you know, Vanguard, all them, they’re like, they’re setting themselves up for the biggest class action lawsuit in the history of class action lawsuits by an order of magnitude!” he added.
WATCH:
🚨 @ElonMusk calls the ESG scam “communism rebranded,” predicting rogue asset managers (like @BlackRock) will face the largest class action lawsuits in history over their political activism: pic.twitter.com/HITs0mZfQl
Yellow, one of the largest and oldest U.S. trucking companies, shut down Sunday after succumbing to substantial debt and a lengthy standoff with the International Brotherhood of Teamsters (IBT), according to the Wall Street Journal (WSJ).
The 99-year-old company had more than 12,000 trucks moving freight across the country for Walmart, Amazon and many other small businesses that relied on their Less-Than-Truckload or LTL shipping model, the WSJ reported. Under the LTL model, customers can transport any amount of freight to allow for smaller loads. Yellow employed approximately 30,000 people, including 22,000 IBT employees. Its collapse would be the biggest in the U.S. trucking industry in terms of revenue and jobs, according to the outlet.
Yellow’s financial hardships have compounded this year as shipping demand declined and sent rates falling. Its cash holdings fell to around $100 million in June from $235 million in December, according to the WSJ.
Yellow was about $1.5 billion in debt as of March, including about $729.2 million owed to the federal government, according to Fortune. In 2020, under the Trump administration, the Treasury Department gave Yellow a $700 million pandemic-era loan as part of the COVID-19 rescue plan, citing reasons of national security, the WSJ reported.
A special congressional oversight report recently concluded that the U.S Treasury “made missteps” in their decision to give Yellow the loan, adding that Yellow’s “precarious financial position at the time of the loan, and continued struggles, expose taxpayers to a significant risk of loss.”
The company is preparing to file for bankruptcy and is discussing selling off all or parts of the business, according to the outlet.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-08-01 09:51:202023-08-01 09:51:20Trucking Giant Shuts Down After 99 Years, 30,000 Could Lose Their Jobs
Launched nationally only 13 months ago, PublicSq. — a new “parallel economy” for conservatives — went public on the New York Stock Exchange this week.
PublicSq. aims to be the platform where “freedom-loving” Americans can find “quality products, services, and exclusive discounts from values-aligned businesses.” The company describes its values as “Pro-Life, Pro-Family, Pro-Freedom.”
Company founder and CEO Michael Seifert gave viewers a behind the scenes look into the launch, discussing the goals he has for the company moving forward. He was joined by PublicSq. investors Donald Trump Jr. and Omeed Malik. Malik is a minority owner of the Daily Caller.
Watch as Don Jr., Omeed Malik, and Michael Seifert take us behind the scenes of the New York Stock Exchange as they celebrate PublicSq. going public. pic.twitter.com/lJmTP6FRgj
Seifert explained, “I think a lot of people view going public as sort of an exit, or a finish line, and for us, it’s fundamentally the opposite. We have a country to save.” One of the main perks of going public, he continued, is “our consumers being owners in the platform.”
Speaking on his desire to get involved in the company, Trump Jr. explained that “half the market’s been ostracized by woke corporate America.”
“We wanted to create a place where people can find businesses and where businesses can find consumers that share a common values base,” he added.
He hopes PublicSq. will “inspire people to be more vocal about the basic tenets of America — freedom of speech, freedom of commerce.”
On his vision for the company, Malik explained that “patriotic capitalism is putting the country first in our economic decisions. You have to have a digital platform where people can find each other.”
“The foundation of any economy is an exchange,” he continued, “and in the parallel patriotic economy, it’s PublicSq.”
Nick Ayers, another investor, applauded PublicSq for already having over 55,000 small and medium businesses on the platform and over one million consumers.
Chants of “USA” erupted on the floor of the stock exchange as the PublicSq. team rang the opening bell.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-07-30 05:51:352023-07-30 05:51:35Take An Inside Look At The New Conservative Company Fighting Back Against Corporate America’s Woke Agenda
On July 26th, 2023 the Homeland Security Subcommittee on Border Security and Enforcement, led by Chairman Clay Higgins (R-LA), and the Subcommittee on Counterterrorism, Law Enforcement, and Intelligence, led by Chairman August Pfluger (R-TX), held a joint hearing to examine the tragic human cost of Alejandro Mayorkas and Joseph Robinett Biden Jr.’s historic humanitarian border crisis.
The Center for Immigration Studies is an independent, non-partisan, non-profit research organization founded in 1985. It is the nation’s only think tank devoted exclusively to research and policy analysis of the economic, social, demographic, fiscal, and other impacts of immigration on the United States.
Watch Todd Bensman’s opening statement on the real cost of an open U.S.-Mexico border,
TRANSCRIPT OF TODD BENSMAN’S TESTIMONEY
Messr. Chairman Higgins, Ranking Member Correa, Chairman Phluger, and Ranking Member Magaziner and Members of the Subcommittees, thank you for inviting me here today to discuss the important issue of impacts from the worst mass migration crisis ever to have occurred at the American southern border. And what is happening at that border is, by every possible metric on government record, the worst such mass migration in the American experience, now well into its third year with at least four million foreign nationals allowed to enter and stay in the United States for their illegal crossing efforts.
I have studied, analyzed and reported border issues for more than 17 years. First, during my 23-year career as a journalist for major media outlets through 2009. Then for nine years as an intelligence analyst for the Texas Department of Public Safety’s Intelligence and Counterterrorism Division, and since 2018 as a senior national security fellow for CIS.
In the official capacity of my current role, I have spent a great deal of the past two-and-a-half years on the ground, both sides of the border, usually with the immigrants before and after they cross. And from thousands of their testimonials, I have written the only comprehensive first draft of this historic event’s causes and effects, in my book OVERRUN.
In it, I document the genesis of this incredible continuous event to specific policies that went into effect on President Joe Biden’s Inauguration Day, which immigrants unanimously tell me are the main reasons they decided to journey across the southern border.
The administration put a freeze on required border enforcement measures and fast-tracked release of the majority of illegal crossers into the country where they and most experts know they will stay forever.
And on their cell phones, which every immigrant has, they sent word of this incredible bonanza down trail, to home villages and all along the migration trails. And in this way, those first tens of thousands who began crossing on inauguration day quickly became hundreds of thousands a month, and then millions a year. Counting an estimated 1.7 million never apprehended, probably more than 4 million have entered the country from the border in a mere 30-month span. Perhaps as many as six million largely uneducated and needy people will be in the country before the Biden policies might first be reversed in the 2024 national elections and the floodgates closed.
Those millions of policy-enticed entries in so short a time already are – and will have – transformative impacts in the form of unplanned-for demands on public welfare and assistance programs, health care systems, Social Security, housing, labor markets, schools, and the criminal justice system.
It is too early in the crisis to measure many of these impacts – assuming anyone is willing to do this politically aversive work. But, despite political reticence to do so, Congress, researchers, media reporters and state and local governments should endeavor to measure impacts in three general areas where indicators of consequential change are already well indicated: public school burdens, unnecessary preventable crime, and unfunded burdens for local communities.
Public School Systems
Probably the very first area of civic life where most Americans will experience the impact of the Biden border crisis will be in the public schools. Local schools face the most immediately visible impacts because a main feature of the Biden border crisis, and also of the earlier Trump swell of late 2018–early 2019, was that immigrants in family groups around the world discovered a certain legal loophole – known as the Flores Settlement. The 2015-amended settlement requires DHS to release immigrant families with young children from detention within 21 days to pursue years of mostly ineligible asylum claims while living inside the United States, rather than to be deterred by detention and deportation.
Children became extremely valuable as tickets into America. So millions of people in family units brought school-aged children in for the Flores Settlement quick-release treatment. At the same time, non-Mexican children traveling without a parent learned they could exploit the Trafficking Victims Protection Act (TVPA of 2000) to gain release within three days, sparking rushes on the border of unaccompanied minors.
School-aged children poured in over the border with parents or guardians, or alone unaccompanied by the hundreds of thousands and then the millions to gain the advantage of these quick-release loopholes.
That mostly ended when former President Donald Trump introduced Remain in Mexico and Title 42 instant expulsions for all illegal entrances as a Covid control measure.
But then the Biden administration on day one opened exemptions in Title 42 expulsions, and ended the Migrant Protection Protocols, or Remain in Mexico. These moves allowed for the quick interior releases of a majority of immigrant families, unaccompanied minors, and pregnant and postpartum women.
The public is never told how many advanced-stage or school-aged children got in through these exemptions and entered public school systems.
Based on publicly available data, it’s difficult to estimate just how many school-aged children brought in over the border joined the estimated 49 million children enrolled in American public school systems.1
But national enrollments would have had to include a bulk of the 545,000 unaccompanied minors enticed by policy to cross since 2019 – 388,748 of them just since 2020. Hundreds of thousands more would surely have crossed in to enroll among the 1.9 million foreign nationals apprehended as family units from 2018 to date. Up-to-minute data is not yet available but, as of 2021, 11 million public school students from immigrant-headed households (legal and illegal) accounted for nearly one out of four students in public schools, more than double the 11 percent in 1990 and more than triple the 7 percent in 1980.2
As for the hundreds of thousands that have certainly driven those percentages much higher since 2021, school districts across America had to enroll them under a 1982 Supreme Court ruling regardless of immigration status, numbers, costs, and hardships.
What might those be?
Spiking enrollments that force school districts to hold successive tax-hiking bond elections to purchase portable classrooms, build new schools, expand existing schools, hire more administrators, janitors, security officers, school cafeteria workers, and hire more English as a Second Language teachers, according to complaints leaching into the public realm.
For instance, in and around New York City, a significant surge of 5,000 immigrant children flooded into four counties in a single eleven-month span through August 2021, posing a $139 million unplanned burden on New York taxpayers to educate them.3 The arrivals of mostly teenage boys created a classroom crisis that strapped educational resources and aided gang-recruiting efforts, the New York Post reported. In May 2022, New York City education officials grappling with older illiterate teen immigrants who have gone years without formal education agreed to launch a pilot program that would all 400 “newcomers” fan out to identified high schools where they can learn English.4
In Austin Independent School District, teachers protested in April 2022 about a 400-student influx of immigrant teenagers from Central America at its International High School and Eastside Early College High School campus.5 Teachers complained they were left to give instruction in hallways and conference rooms. Similar scenarios are unfolding more quietly in school districts across America.
For what that may look like in extreme form, parents whose children attend public schools across the United States need look no farther than Cleveland Independent School District (CISD) in East Texas’s Liberty County about 40 miles northeast of Houston. A sprawling new community called Colony Ridge, whose new and established residents – and CISD’s School Superintendent – universally acknowledge that many are illegally present in the United States, has boomed inside the CISD’s 143 square miles to some 60,000 as of 2021.6
In 2019, the growth driven by largely immigrant children prompting the Texas Education Agency to label CISD a “hyper-growth” district.7
CISD Enrollments exploded from 3,693 K-12 students and four main schools in 2011-2012 to more than 12,000 in 2022. From four schools, CISD is now 12 schools and 60 portable classrooms funded by continual bond elections and with plans for a $1.2 billion expansion to twenty more schools over the next decade to accommodate an anticipated student body of 20,000 students as Colony Ridge continues a massive migration-fueled expansion. A decade ago, CISD was 40 percent Hispanic. Now it is 90 percent and very different from the old country days.
In 2022, I traveled to CISD and Colony Ridge as part of research for my book Overrun and interviewed students, parents, teachers and the superintendent Stephen McCanless. From them, I learned that the district’s ills there take many forms. Classroom and school overcrowding have required portable classroom farms, sharp spending increases to hire new teachers and bus drivers, continual requests for voters to approve bonds to build new schools, fallouts from language barriers and uneven education levels, less individualized teacher time per student, poorer academic performances for all, and public safety concerns.
What I learned from public records and my interviews was that most of the new students can’t speak English. Those with limited English proficiency rose from 20 percent in the 2011-2012 school year to 55 percent in 2021-2022. English-as-a-Second Language curricula now makes up more than half of all school curricula. The entire teaching staff is required to obtain state ESL certification or an equivalent one, and expensive and time-consuming endeavor requiring constant management. The majority of parents speak limited English too and stay away, some for fear of deportation.
Many of the new students were teenagers who couldn’t read or write. Broad language barriers suppress academic achievement. Student-teacher ratios range in the upper thirties per teacher for certain core classes. It’s crowd control, not education, one teacher told me. Some of the statistics are alarming. Nearly half of Cleveland High School’s students were considered to be at risk of dropping out. Nearly 60 percent of Cleveland Middle School’s 2,238 students were considered at risk of dropping out.8
“Texas Education Agency says they have a right to a free public education,” McCanless told me. “And I can’t put a fourteen-year-old in a second-grade class, so we put them in an age-appropriate grade level and we give them all the supports we can, and then you’re like, ‘how do we teach a fourteen-year-old how to read!? I mean, that should have been learned in first or second grade. But we have to do it. We’re doing it. We have some now. And then the state tells us they’re expected to take the state test!”
“How are they doing on the tests?” I asked. “How do you think?” McCanless replied.
The district has repeatedly asked voters to approve massive tax-spiking bond elections, an $85 million one in 2017, a $198 million one in November 2019, another for $150 million in 2021, another for $115 million in 2022. Weary voters approve some and reject others.9
Keeping up with this problematic growth is a nonstop desperate struggle that has left students with sub-par education and caused the flight of pre-existing students to other cities and towns. The growth has spawned a wide variety of social problems never seen in CISD’s history.
McCandless and teachers told me of gang formation, drug trafficking and violence came into the school system with the “newcomers.” “And we have dealt with them. And I have expelled them.”
No one seems to be systematically tracking these transformative kinds of impacts anywhere in America’s public schools.
But while the case of CISD is in many ways extreme, there can be no doubt that school districts across America are undoubtedly experiencing similar pain to greater or lesser degrees, suffering in silence.
A Great Unnecessary Crime Wave
For years, advocates of a borderless United States have pointed to academic-seeming “studies” that compare illegal alien criminality to American citizen criminality and then conclude that Americans commit more than the illegal immigrants.10 Its progenitors cite the comparison to nullify concerns about illegal immigrant crime. They use it to argue that the American people should leave the illegal immigrants alone and more properly tend to American citizen criminals.
The result of these comparative “studies” is that while America keeps busy with the ostensibly more real problem of US citizen crime, the nation’s leaders let the illegal immigrant flow continue unimpeded since that population is so much less worrisome.
But this “comparative research” diverting concern from illegal immigrant crime constitutes one of the greatest academic and intellectual frauds in the annals of immigration studies.
The notion that these two groups should be compared is intellectual misconduct of the highest order, a sham campaign that almost surely has extended the unnecessary carnage against American citizens and lawful residents. The comparison studies factory is a sham because illegal immigrants, and especially those with knowable criminal histories, are uniquely subject to government deportation and detention, which does not exist for American citizens and lawful residents.
So, unlike every crime committed by American citizens, every crime committed by illegally present immigrants with criminal histories was avoidable. Because illegal immigrants are constantly subject to entry blockage and removal, all of their crimes must be counted as a 100 percent net-gain increase of a social ill that hurts real people in the worst imaginable ways on a consistent, long-term basis.
Conversely, American citizens and lawful residents, obviously, are not subject to a national government apparatus in place to block and remove them from American territory so that they are not present to commit crime. America is stuck with its criminal citizens before, during, and after every crime they commit. The DHS detention and removal machine cannot and will not ever prevent a single crime by an American citizen.
That is a Grand Canyon-sized difference between the two groups disqualifying them for comparison in crime or anything else, like how often both use public assistance. Immigration enforcement will always eliminate or reduce the presence of illegal immigrants who commit crimes but never American residents. Americans have no choice but to suffer every single American citizen-committed crime but should never have to suffer one single illegal immigrant-committed crime.
Illegal immigrant crime is notoriously difficult to measure because doing so is politically aversive to government agencies in politically liberal precincts. But in addition to sudden painful public school enrollments, most Americans will suffer more crime committed by more illegal immigrants. Most U.S. states do not keep track of crime committed by illegal immigrants, and neither does the federal government.
Only Texas tracks much of its crime by noncitizenship and its data is likely indicative of crime trends in other large-population states.
It is too early as of this writing to guess the extent to which alien crime that will result from the Biden border crisis.
But if the past is any indicator of the future and the Texas numbers can indicate problem scope, America is in for a sustained unnecessary crime wave of preventable murder, rape, child abuse, burglary, felony theft, drug trafficking, alien smuggling, and drunken driving manslaughter on a higher permanent scale.
The Texas Department of Public Safety learns the immigration status of suspects booked into local jails through a program that submits fingerprints to the FBI for criminal history and warrant checks, and to DHS, which returns immigration status information on those whose fingerprints were already on file (which is not all of them).11
The glimpse is limited and not a reflection of much almost certain higher totals, but it is telling about the trend line ahead across America. Between June 1, 2011, and July 31, 2022, these 259,000 illegal aliens were charged with more than 433,000 unnecessary, preventable criminal offenses. Those included 800 homicide charges (resulting in 374 convictions as of July 2022), 822 kidnapping charges (resulting in 265 convictions), 5,470 sexual assault charges (resulting in 2,593 convictions), 6,485 sexual offense charges (resulting in 3,065 sexual offense convictions), and 4,945 weapons charges (resulting in 1,723 weapons convictions).
What the Texas data show is that hundreds of dead people should be alive, thousands of sexual assault and sexual offense victims should never have suffered the trauma, and tens of thousands of assault charges involving victims would not have been hurt.
The Texas data also shows that criminal aliens took up police time and clogged up the American justice system that could have been more dedicated to American criminals. Thousands of drug, burglary, robbery, and weapons charges need not have jammed the Texas criminal justice systems at taxpayer cost.
The Texas program found that another 10,590 illegal aliens were identified while they were in Texas state prisons over the past decade. Among them were prisoners serving time for 119 more unnecessary homicides.
Back to Liberty County’s massive settlement of Colony Ridge, legacy residents are increasingly alarmed by criminal atrocities never seen before. On April 29, a five-time deported Mexican national who owned a home in neighboring San Jacinto County allegedly murdered five members of a Honduran family that lived next door after they complained that his firing of a semi-automatic assault-style rifle at 11 p.m. was keeping the baby awake. He allegedly killed mothers and children, two of whom miraculously survived the massacre under the bodies of their parents who died shielding them.12
That one made national news but many other atrocities and evidence of Mexican cartel operations in the area did not, such as the April 2023 murder of two former area middle school students found riddled with bullets in a car.13
In 2020, an illegal alien from Mexico who settled in Colony Ridge chained two house cleaners to a bed and sexually assaulted them in a blackmail scheme during which he took nude photos.14 The nightmare ended when one of the women attempted an escape in her vehicle but didn’t make it; her assailant managed to shoot her to death and set her car on fire with her inside before fleeing back to Mexico. Border Patrol caught him trying to cross again in California a short time later.13
In 2016, owners of a Colony Ridge lot who were clearing it of brush discovered the decomposing remains of a single mother of five children named Esmeralda Pargas-Nunez, 42, who’d been reported missing a month earlier. It took two years, but homicide detectives tracked down her alleged killer to Houston in 2018, another woman named Sabrina Olarosa Garcia, and charged her with murder.15 This was evidently part of a kidnapping scheme in Houston where the alleged murderer first lured her victim to a meeting.
In September 2022, passersby in Colony Ridge found the body of a 16-year-old Honduran girl who’d been shot to death and dumped in a ditch by the side of a road, still wearing her uniform from her work busing tables at a local restaurant. Gang unit police arrested three foreign nationals, all under 21, and charged them with the murder of Emily Rodriguez-Avila, citing “gang overtones” as a motive. The family shipped her body back to Honduras for burial.
In June 2022, a Liberty County dog brought home a human hand, which led to the discovery of a badly decomposed body of a man who had been buried with his gun. Police couldn’t identify the corpse and were left to post photos of the clothing in hopes someone would recognize them.
The Gulf and Sinaloa Cartels invested in Colony Ridge from its earliest inception, they said, financing lots for local operatives to run safe houses through which they move smuggled drugs and people from the border to interior America. They were using them still to smuggle people coming in under Biden.
Evidence of cartel involvement dates to the earliest days of the illegal-alien settlement boom. To at least 2013, when federal, state, and local investigators raided a Mexican drug cartel’s marijuana grow operation on 300 acres in Liberty County, finding explosives, 6,000 marijuana plants, worker bunk houses, and guard towers.16 Local police at the time called it the “largest and most sophisticated marijuana-growing operation” in the county’s history.
In July 2021, the DEA broke that dubious record with the new biggest drug bust in Liberty County history with a raid that broke up a multimillion-dollar methamphetamine manufacturing lab operating inside one of the Colony Ridge dwellings.
During a recent trip, a police investigator drove me around several town neighborhoods pointing out high-end brick homes where cartel management figures lived before they were busted or moved away.
This kind of criminality grew so problematic by 2021 that the fearful town leaders of Plum Grove established a first police department that works in concert with two county-paid bilingual constables that Liberty County funded to exclusively patrol Colony Ridge.
The addition of several police officers amounts to a drop in the ocean, one officer from the region told me. Drive-by shootings, stealing, and drug trafficking are rampant, victimizing mostly the new community.
Indeed, a five-month-long gang and narcotics investigation by the Liberty County Sheriff’s Office came to a dramatic end in December 2021 with the arrest of two 15-year-old boys and a 17-year-old boy who were part of a violent drug-trafficking racket in Colony Ridge.17
After three or four months where the boys would engage in gun battles with drug buyers who wouldn’t pay on time, local police had to investigate. When the day came to make arrests, the armed 17-year-old rammed a police car during a pell-mell car chase near Plum Grove, fled home, and barricaded himself in his house until a SWAT unit had to extract him and a girlfriend inside, who also was arrested amid drugs that were found.18
If those who committed these crimes were in the country illegally, none of this should have happened since they and their parents would not be present if immigration laws were followed.
Within Texas, which probably is emblematic of many other states, Liberty County reflects a microcosm of what unnecessary crime can look like anywhere large numbers of foreign nationals who are only thinly vetted settle. Much more of this is on the way to communities across America, whether anyone systematically records it or not.
American cities and towns feeling under siege
The pain of unfunded impact from the White House’s mass illegal immigration crisis can be heard in the ever-lengthening lists of cities and towns forced to contend with unmitigated inflows of needy immigrants from the southern border.
Cities as far north as Chicago and as far west as Denver are squealing in pain from unfunded burdens of having to shelter, feed, clothe, medically treat, and support never-ending inflows of needy, uninsured, limited English-speaking immigrants from throughout the world.
Cities such as Washington DC, New York, and Chicago have declared states of emergency and demanded federal bailouts that will come at the taxpayer expense to feed, house, and care for tens of thousands of illegal immigrants allowed into the country to stay under Biden policies.19
No one wants to share the pain of sudden massive influxes of dependent, needy immigrants in New York, the ultimate not-in-my-backyard issue. New York City and 30 state counties are locked in litigation over plans to export immigrants to them as 15,000 new immigrants a month pour into the city.20 Nine New York State counties were suing to block New York City’s immigrant-export operations.
American citizens, including veterans, are displaced from city-run homeless shelters as towns and cities fill up all available public spaces, to include public school auditoriums and college dorm rooms. Cities and towns along the Texas border have declared border-related disasters and emergencies, to include Brownsville, Laredo, and El Paso. One town 400 miles from the border, Cold Spring one county over from Liberty, declared a migration-related emergency as recently as June because of a “massive surge of drug and human smuggling” associated with the border crisis.21
As the Biden border crisis grinds on and on, expect the silent majority of cities and towns across America to add their voices of pain and protest to the lengthening list. They will do so because their leaders have correctly assessed that this massive new population of needy foreigners will burden and transform their communities without their say-so.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-07-28 14:51:452023-07-28 14:51:45The Real Cost of an Open Border: How Americans are Paying the Price
The Federal Reserve hiked its benchmark federal funds rate by a quarter of a percentage point on Wednesday after skipping the previous hike, bringing the rate to the highest level since 2001.
The rate hike brings the Fed’s target rate within a range of 5.25% and 5.50%, making this the eleventh hike since March 2022, after temporarily pausing the rate increases in June. Most economists anticipated a quarter-point interest rate hike as a part of the ongoing effort to bring inflation down, bringing the high end of the range to the highest rate since January 2001, according to the Federal Reserve Bank of St. Louis.
“The Committee decided to raise the target range for the federal funds rate to 5-1/4 to 5-1/2 percent,” the Federal Reserve press release said. “The Committee will continue to assess additional information and its implications for monetary policy. In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.”
“I suspect the Fed will raise rates a quarter of a point at the upcoming FOMC meeting and then wait a few months to see any lagged effects come in,” Peter Earle, economist at the American Institute for Economic Research (AIER), told the Daily Caller News Foundation. “If disinflation continues at its current pace, with this rate hike we may be at the top of this cycle. If disinflation slows or the prices of certain goods/services prove sticky—like rents/shelter costs—we could see another 25 basis point hike in the late summer/early fall.”
The increase comes as inflation remains high. The Consumer Price Index (CPI), a broad measure of prices of everyday goods such as energy and food, increased 3.0% year-over-year for the month of June, which is down from 4.0% for May but still far from the Fed’s 2% target. Core CPI, which excludes energy and food, rose 4.8% on an annual basis in June compared to 5.3% in May.
“Inflation is now falling faster than Fed officials expected, which may put them in danger of overtightening and creating a recession if they continue raising interest rates as planned,” Dr. Thomas Hogan, senior research faculty at the AIER, told the DCNF.
As of Wednesday morning, markets were predicting more than 96% odds that the Fed would raise the federal funds rate by 25 basis points, according to the CME Group.
“When Silicon Valley Bank and a handful of other regional banks failed in the spring, many thought that, inflation or no inflation, the FOMC would quickly shift to an expansionary policy bias,” Earle told the DCNF. “They didn’t. The next test for the Fed will come if the softness currency seen in the US economy becomes a recession. If that happens and inflation isn’t back down to 2 percent, will stable prices or macroprudential concerns take precedence in their policy setting? That’s the question.”
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-07-27 15:51:132023-07-27 15:51:13Fed Resumes Interest Rate Hikes To Highest Level Since 2001
Interestingly, within 72 hours of these hearings new material has emerged which offer a very high resolution lens with which to view the testimony given below.
A highly-anticipated internal FBI document – obtained by DailyMail.com – includes bombshell claims that Joe Biden and his son Hunter forced a Ukrainian oil executive to pay them $10 million in exchange for the then-Vice President’s influence in getting a senior prosecutor fired.
According to the conversation between a confidential source and Burisma CFO Vadim Pojarski in 2015, Hunter Biden was hired onto the company’s board to ‘protect us, through his dad, from all kinds of problems.’
Burisma CEO Mykola Zlochevsky told the source: ‘It costs 5 (million) to pay one Biden, and 5 (million) to another Biden.’
‘For the better part of a year, I’ve been pushing the Justice Department and FBI to provide details on its handling of very significant allegations from a trusted FBI informant implicating then-Vice President Biden in a criminal bribery scheme,’ Grassley said in a statement.
‘While the FBI sought to obfuscate and redact, the American people can now read this document for themselves, without the filter of politicians or bureaucrats, thanks to brave and heroic whistleblowers.’
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-07-23 09:53:232023-07-23 09:53:23VIDEO: Full Hearings on Biden Family Tax Evasion
If rulemaking and regulatory costs continue to accelerate at the same rate as they did during the Obama administration, the report states, “[T]he result after eight years [under Biden] would be a cumulative $7 trillion, which is almost $60,000 per household.”
Biden admin regulatory costs surpassing those under Obama, research shows
By Aaron Kliegman | Fox News June 29, 023:
The Biden administration’s burdensome regulations have cost Americans about $10,000 per household, according to a new report, which noted that figure could skyrocket if President Biden is re-elected in 2024 and serves another four years.
Casey Mulligan, a professor of economics at the University of Chicago, compares the regulatory records of President Biden and former Presidents Donald Trump and Barack Obama in a new study published by the Committee to Unleash Prosperity.
As of the end of last year, according to the study, the Biden administration imposed new regulatory costs on American households and businesses at a pace that is surpassing that of the Obama administration during a comparable time period. Specifically, Mulligan writes that the Biden administration has so far been adding regulatory costs at a rate of $617 billion per year of rulemaking, not counting regulatory costs created by statutes and other non-rule regulatory actions.
Mulligan calculates that the added costs of these Biden-era rules finalized in 2021 and 2022 — including both their current and expected future costs — amount to about $9,600 per household. These costs are spread over time rather than concentrated in the first year that the rules take effect — and could spike significantly if Biden is re-elected.
If rulemaking and regulatory costs continue to accelerate at the same rate as they did during the Obama administration, the report states, “[T]he result after eight years [under Biden] would be a cumulative $7 trillion, which is almost $60,000 per household.”
Still, Biden has fewer regulations per year than Obama and Trump in almost every category, according to the report. However, the current administration has implemented some especially costly regulations, such as actions on student loans and vaccine mandates.
Overall, automobile fuel economy and emissions standards account for a third of the total regulatory costs, with health, labor, telecommunications and consumer finance regulations also comprising a significant chunk.
Unlike Biden, Trump oversaw large-scale deregulation, as the report notes.
“The Trump administration’s agencies through four years reduced regulatory costs by almost $11,000 per household in present value,” according to Mulligan, who notes that figure doesn’t include Operation Warp Speed to produce a COVID vaccine. “On an annual basis, President Trump was on net reducing regulatory costs (more than $300 billion per year of rulemaking) almost as fast as Presidents Obama and Biden were creating them ($600 billion per year of rulemaking).”
If rulemaking and regulatory costs continue to accelerate at the same rate as they did during the Obama administration, the report states, “[T]he result after eight years [under Biden] would be a cumulative $7 trillion, which is almost $60,000 per household.”
https://libertyfirst.org/wp-content/uploads/logo_v6_225x110.png00DrRichSwier.comhttps://libertyfirst.org/wp-content/uploads/logo_v6_225x110.pngDrRichSwier.com2023-06-30 11:51:252023-06-30 11:51:25BIDENOMICS: Biden Regulations Have Cost Americans a Whopping $10,000 Per Household: Study
Frank Vernuccio serves as editor-in-chief of the New York Analysis of Policy & Government, providing objective coverage of key issues facing the United States today. Frank is the co-host of the Vernuccio/Novak Report, nationally both on broadcast radio and the web at amfm247.com. FRANK also co-hosts of the “The American Political Zone,” Broadcast on the AUN-TV Network and on cable in eastern Connecticut.
TOPIC: The Federal Government’s Spending Disaster!
JUDGE PHIL GINN
Judge Phil Ginn was appointed president of Southern Evangelical Seminary in April 2021 after a distinguished career as both a lawyer and a judge. He holds a B.A. from Appalachian State University, a J.D. from the University of North Carolina at Chapel Hill, and a Doctor of Ministry from Southern Evangelical Seminary. Prior to his appointment as SES president, Judge Ginn served as SES Chairman of the Board of Trustees.
TOPIC: Target’s Satanist-affiliated LGBTQ collection as store stock plummets!