The Dismal American Economy
The Democrats pretend that none of us can remember back to when President Trump was in office, the economy was booming and fuel was less than half of what it costs today.
Inflation, over the past year, has gone from conspiracy theory to “a transient problem, to “no big deal”, to ignored, and now finally reluctantly acknowledged by the ruling class.
Democrats in Congress and the White House are reticent to take any responsibility for inflation with their reckless spending and deliberate hampering of getting petroleum products out of the ground and into cars and homes. But will the electorate hold them accountable in the fall elections?
President Brandon (or whoever actually runs the nation) is adding fuel to the inflationary fire by canceling offshore oil lease sales in Alaska and the Gulf Coast.
One more quarter of negative GDP and we are officially in a recession. The Fed promises small interest rate hikes to fight inflation, but with a $30 trillion national debt, every percent interest rate increase translates to $300 billion more in annual interest payments. Rather than ignite the ire of the public by raising taxes and interest rates, America prints more money to pay its debt. In the world of finance, it’s called a “death spiral”.
Democrats have contrived a theory as nonsensical as blaming Donald Trump for Joe Biden’s policy decisions. The Washington Post coined this approach “Greedflation”:
The theory, published in the Post goes something like this: The reason prices are up so much is that companies have gotten “greedy” and are conspiring to “pad their profits,” “profiteer” and “price-gouge.” No one has managed to define “profiteering” and “price-gouging” more specifically than “raising prices more than I’d like.”
The problem with this narrative is that it’s just a pejorative tautology. Yes, prices are going up because companies are raising prices. Okay. This is the economic equivalent of saying “It’s raining because water is falling from the sky.” Well, why? How convenient to blame one’s own failed policies and solutions on some bogeyman, whether “the rich” or cigar-chomping “greedy price-gouging corporatists.” While at the same time, Congress has no hesitation in spending $40 billion of taxpayer money, which we actually are borrowing, to fund a proxy war against Russia where we have no vital national interest.
Former Soviet Premier Vladimir Lenin correctly observed, “The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”
Internal Confidence in Russian Military Equipment
A year ago, bargain hunting nations were turning to Russia to buy T-90 tanks and upgraded T-72s because they were much cheaper than the German Leopard, the French LeClerc or the US Abrams. Those sales were halted universally as the Russian war machine grinds unsuccessfully in Ukraine.
Russian aviation sales have stalled as well as they fail to achieve air superiority over Ukraine.
NEW DELHI — India has halted negotiations with Russia for the former to acquire 10 Kamov Ka-31 airborne early warning helicopters for $520 million, following uncertainties in arms supplies amid Russia’s invasion of Ukraine.
The Indian government indefinitely suspended the negotiations with Rosoboronexport and original equipment manufacturer Russian Helicopters, an Indian Defence Ministry official told Defense News on condition of anonymity. The official, who was not authorized to speak to the press, said the government-to-government deal added that the suspension is due to concerns over Moscow’s ability to execute orders as well as issues related to payment transfers.
Thanks, PaulM, now I’m addicted. It’s not exactly binge-watching, but I have to admit that I’m enjoying the British farming show on Prime. Jeremy Clarkson is a showman by nature and in the first episode, he buys a Lamborghini tractor for his farm. He has millions of pounds to throw at the effort and it’s a good thing because he’s no farmer. It is entertaining all the same.
I’m sure that the project is some sort of tax dodge because he undertakes little expensive projects that no genuine farmer could afford to do. At the same time, it’s more than a hobby.
One thing that I found sort of absurd is the level of bureaucratic oversight that the British government exercises over a family farm. When I was a kid and we had a farm/ranch, in the US, there was none of that. We ignored USGOV for the most part. But that was a long time ago.
An Airbus A220 private jet was designed with the aid of a graffiti artist.
I don’t know what they paid the artist, but my grandkids could have pulled it off on their own for far less money.
Identify the Tank
Battle of Kursk, and yes it saw better days, but you should be able to ID it.
Tamale Review (after action report)
Based on a recommendation made here (I think by Dave), I ordered some tamales from Delia’s Tamales in Texas. The shipping cost was brutal but the frozen tamales arrived and I’ve been eating them for a couple of weeks here and there. They are not the best I’ve ever eaten but they’re quite good for a frozen tamale. Shipping aside, the cost was reasonable.
And finally, happy birthday to my daughter, Emilie.