CNBC is the Biden defense team for media broadcasts of anything related to the economy. As a result, you know things are bad when CNBC broadcasts that Joe Biden’s economy has the highest level of dissatisfaction in the history of their surveys.
Steve Liesman was given the task again to share the horrible results. WATCH:
As if we needed more proof that the elites are beyond the law — disgraceful. Listen to the words coming out of Joe Biden’s mouth juxtaposed to a video of his son weighing crack cocaine in a filthy hotel. The sweet “Uncle Joe” image that Obama created for this man is a lie. As senator of Delaware, Joe Biden implemented strict laws to punish drug addicts, specifically those addicted to crack cocaine. He did this to target African American communities where crack was more prevalent due to a three-letter agencies’ involvement (a post for another time, perhaps).
Biden championed the 100-to-1 crack/powder disparity where those in possession of crack would receive 100 times the penalties for carrying the same amount of powder cocaine. He is the man responsible for the US creating the role of “drug czar,” as he championed being tough on crime throughout his career until he reached the White House.
Biden opened the doorway for civil asset forfeiture in the Comprehensive Crime Control Act of 1984, which gave the government permission to seize the assets of anyone suspected of drug trafficking. Similar to conspiracy, no actual crime needed to be committed.
A report from the American Civil Liberties Union, “Cracks in the System,” found that the 100-to-1 rule disproportionally targeted African Americans and contributed to mass incarceration:
“In 1986, before the enactment of federal mandatory minimum sentencing for crack cocaine offenses, the average federal drug sentence for African Americans was 11% higher than for whites. Four years later, the average federal drug sentence for African Americans was 49% higher.”
Those with minor possession of crack cocaine, much smaller than anything his son has purchased, faced numerous years behind bars without a fair trial and were treated as criminals rather than addicts with a physical and mental health problem. The media wants us to sympathize with Hunter Biden for his rough past, but no one sympathized with the countless people locked away under “Pedo Pete’s” laws. Biden was also responsible for helping Bill Clinton pass the 1994 Violent Crime Control and Law Enforcement Act, which encouraged the death penalty for suspected traffickers and banned certain people from legally possessing weapons. The law most famously included the “three-strike” rule that locked people away for life after three offenses. Bill Clinton later apologized for that ruling, but Joe Biden did not.
What changed Biden’s mind? He has recently come out to decry the harsh rules he implemented and is notoriously light on crime. Well, his daughter Ashley was arrested for marijuana possession in 1998 in Louisiana. Ashley was never convicted of a crime, and her father went on to claim in an ABC interview as far as 2010 that marijuana was a gateway drug. “I still believe it’s a gateway drug. I’ve spent a lot of my life as chairman of the Judiciary Committee dealing with this. I think it would be a mistake to legalize,” then Vice President Joe Biden said. Let us not forget that he ran campaign ads before the US 2020 Presidential Election to repeal any marijuana-related restrictions that “unfairly targeted minorities.”
Biden is one of the most hypocritical politicians in modern history. He went from championing destroying already ruined lives with unforgiving laws to spending US taxpayers’ dollars on providing addicts with free drug paraphernalia. He defunded police agencies at a time when the opiate epidemic was killing more young lives than ever before. Under the very laws he created, he technically helped his son purchase crack and, therefore, should be investigated, albeit this only scratches the surface of the crimes he has committed through his son.
Hunter Biden and the entire Biden crime family are blatantly above the law. Crack smoking is one of the least offensive activities exposed in Hunter’s laptop from hell. He will never be investigated, and Biden will never feel sorry for the countless lives he has ruined.
Democrats are historically known for the optics of their politics. With that in mind, is it coincidental that California Governor Gavin Newsom, one of the leading people that leftists want to see run in 2024, shows up to tour the White House the day after Joe Biden leaves town?
Considering the recent article from the New York Times outlining how most democrats do not want to see Joe Biden run for reelection, the timing seems rather conspicuous. {Direct Rumble Link} WATCH:
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Gavin Newsom is turning California into Somalia, so it would make sense for him to be the next one in line to continue the chaos.
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The professionally furrowed brows are forced to admit high prices remain problematic for the proles while retaining the sympathetic pretense. WATCH:
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Comrade rebels, when things get spicy, I’ve got dibbs on his swimming pool.
President Joe Biden’s approval rating is at its lowest level – 29%. A majority of Americans, 58%, flat out disapprove of Biden’s work. Unsurprisingly, only 2% of Republicans approve of Joe, with 97% stating disapproval. Only 19% of Independent voters approve, while 68% do not. Democrats are still trying to justify their vote as 64% still support Joe, despite everything he has done to harm the nation.
The only states that saw a slight majority in their approval rating were former President Obama’s home state of Hawaii (45% approval v 41% disapproval) and Vermont (43% approval v 39% disapproval). He fell out of favor with all other states. Anyone living in the US likely hears disgruntled sentiments on a daily basis. I hear angry mumbles from people every time I visit the pump or walk in the grocery store. Countless people in various professions have written in to state how Biden’s policies have directly hurt their businesses.
These low approval numbers make it less likely to see a 2024 Joe Biden election year, as the Democrats now know they cannot win with him at the helm. We saw Boris Johnson resign by force, but will Joe Biden be next? Even the Fed stated that unemployment must rise for inflation to decline. The situation will become much worse before it gets better. In the meantime, low poll Joe has run out of people to blame for America’s downfall.
Who will vote for Biden after he destroyed the American economy? Perhaps illegal immigrants from Socialist countries who would have gratitude for even the lowest level of living in this nation. I explained how the election system is rigged with Dominion Voting Systems directly funneling money to liberal candidates and having close ties to George Soros. The Biden Administration wants to ensure that the game is completely in their favor, and now wants illegal immigrants to vote in American elections.
The Biden Administration is actually suing the state of Arizona because the state will require voters to show proof of American citizenship. Was the left not up in arms about other nations allegedly interfering in our electoral process? The Department of Justice claims that House Bill 2492 is illegal under the Civil Rights Act (1964) and the National Voter Registration Act (1993).
Arizona Attorney General Mark Brnovich said that he will not accept the DOJ’s demands. “In addition to free rooms and transportation for those illegally entering our country, the DOJ now wants to give them a chance to vote,” he said to Fox reporters. “It’s another round of Brnovich v. Biden. I will once again be in court defending Arizona against the lawlessness of the Biden administration.”
New York City recently prohibited illegal aliens from voting and the measure has bipartisan support. Even Mayor Bill de Blasio did not fight the ruling. The only politicians seeking to allow outsiders to vote in elections are on the far-left, and it appears that those at the very top of our political system have become extremists in their views.
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The woman army medic who seems to be fighting for the Constitution clearly has no idea what the Constitution is all about. Here rant which gathered 30,000 likes said:
“I just extended my contract to continue serving this country a week ago. How am I supposed to swear to support and defend the Constitution and a country that treats its women like second-class citizens?” She continued: “How am I supposed to do that? How am I supposed to do that with pride? How am I supposed to do that with love and honor?”
In HARRIS v. McRAE, 448 U.S. 297 (1980), the facade of Roe v Wade was exposed. The case was claiming that the government MUST pay for medically necessary abortions. They made it clear in that decision that the Constitution is NEGATIVE, not POSITIVE. It is a restraint upon government – not a shopping list of positive rights. This medic should resign, leave the country, and go someplace where you can freely kill a two-year-old when they annoy you.
If there was a Constitutional Right to abortion, but a restraint under the 8th Amendment against cruel and unusual punishment, then the solution would be to justify retroactive abortion without limitation so you no longer sentence someone to death, you merely abort their life whenever.
The very law that these people are so upset about was limiting abortion to the first 15 weeks. They seem to want even after-birth abortion. These real fanatics want to call a newborn still a fetus to justify abortion after birth.
“We claim that killing a newborn could be ethically permissible in all the circumstances where abortion would be. Such circumstances include cases where the newborn has the potential to have an (at least) acceptable life, but the well-being of the family is at risk.”
Why not just kill a child at any age when it threatens the “well-being of the family” if there is even a family that remains under this definition. There has always been justification for abortion when the life of the mother is at risk, or rape, or incest. But not any of these justify after-birth abortion. Sorry, but I don’t see how they would be good mothers and the solution should be sterilization – Gates would love it!
Barrons has an interesting article on an increase in bank auto repossession rates connected to defaults [see here]. Essentially, used car prices have surged significantly and the timeline seems to indicate the temporary covid-19 stimulus spending had a lot to do with the increase in demand.
According to data assembled by CoPilot, used cars are currently priced approximately 10,000 higher than they would be without any pandemic related influence, supply side or demand side. Banks and financial institutions loaned money into the climbing market price. However, the artificially inflated car prices now create a bubble where the liability on the books is significantly higher than the repossessed asset is worth.
A higher rate of auto loans are now defaulting for both sub-prime and prime borrowers (double for both), indicating the former buyers are under financial pressure and can no longer make their car payments. The loan to value ratio was as high as 140% when the banks made the loans, a more traditional or normal ratio is 80%.
The banks have a vested financial interest in limiting the number of repossessed vehicles they allow into the used car auction market in order to keep the book value of the cars as high as possible. Those banks and financial institutions have recently rented more storage space for the vehicles being repossessed.
Barrons – […] Lucky Lopez is a car dealer who has been in the business for about 20 years. In recent meetings with bankers, where he bids on repossessed vehicles before they go to auction, he has noticed some common characteristics of the defaulted loans. Most of the loans on recently repossessed cars originated during 2020 and 2021, whereas origination dates are normally scattered because people fall on hard times at different times; loan-to-value ratios, or the amount financed relative to the value of the vehicle, are around 140%, versus a more normal 80%; and many of the loans were extended to buyers who had temporary pops in income during the pandemic. Those monthly incomes fell—sometimes by half—as pandemic stimulus programs stopped, and now they look even worse on an inflation-adjusted basis and as the prices of basics in particular are climbing. (read more)
Somehow, I would hazzard a guess, if we are to follow recent precedent, that taxpayers are going to end up backstopping the financial institutions when the bubble in this asset class pops. However, that said… the scale of these loan defaults could also foretell a significant slipping in the housing market.
Unfortunately, (a) she’s not talking about energy or oil production/supply; and (b) she believes it.
Commerce Secretary Gina Raimondo, a comprehensively incompetent and unqualified person selected to run the commerce department, blames, without hesitation, a “fundamental lack of supply” for the cause of U.S. inflation [04:38]. She’s not pretending, Raimondo genuinely believes this.
I have struggled with the question of whether it’s incompetence or intentional ideology that drives some of these cabinet members to say stupid stuff. In the case of Commerce Secretary Raimondo, it is clearly incompetence. In order to believe that a lack of supply is driving inflation; which is not coincidentally the same demand-cause opinion held by the federal reserve; a person has to ignore the dozens of key economic indicators that show consumer demand has contracted, inventories are climbing, and orders to manufacturers have dropped.
Even Samsung, one of the largest producers of electronics sold in the United States, has told all their suppliers to stop sending the component goods used to manufacture their products because orders for finished goods have plummeted. Hell, consider this…. THE COMMERCE DEPARTMENT, yes, that’s right, the Department that Raimondo is in charge of, has collected the data showing RETAIL SALES have DROPPED. Yet here she is blaming a lack of supply for inflation. WATCH:
It is not a lack of supply driving supply side and producer inflation. It is the massive increase in material, processing and transportation costs associated with Biden’s energy policy that are impacting supply-side inflation. Demand has contracted, inventories are climbing, manager orders have plummeted, and consumers are squeezed. Yet this knucklehead thinks recession is unlikely.
Gina Raimondo was also on Meet The Press, with another knucklehead, Chuck Todd.
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University of Pennsylvania, Wharton School of Business, Finance Professor Jeremy Siegel, takes a closer look at the June jobs data from the Bureau of Labor Statistics. Professor Siegel notes a .01% drop in average hours worked is the labor equivalent of losing 450,000 jobs.
With factory demand dropping, and with inventories climbing, and with FTE’s (Full-Time Equivalents) dropping, the jobs report takes on additional context that aligns with the overall decline we feel in Main Street activity. Essentially, regardless of how many jobs are “created” within the economy, the overall economic activity -as measured by the value of products & services generated- is declining.
Additionally, as noted by Professor Siegal, the current best estimate as reviewed by the several data points, is a current drop in overall GDP in the -2% range. Seigal points this information out because the Federal Reserve is raising interest rates into an economy that has declining (demand side) consumer activity, which, correctly as he states, only makes the contraction more severe. WATCH:
The core supply side costs (all based on energy policy) continue to increase and drive consumer prices upward. Simultaneously, consumer demand is dropping because the goods and services impacted by the increased costs (most of which are unavoidable) are more expensive. This creates a downward spiral. Consumer prices are increasing on housing, energy, food and gasoline (supply side impacts), at the same time discretionary spending contracts.
In this scenario there is no way to avoid a steep recession. However, the real priority of Joe Biden surrounds whether Jill will allow his favorite pudding, and if the shoes on the pancake mix keeps making sparkly rabbit noises.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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