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One of her most galling claims is that she has "plans" to make the economy better. If that were true, why hasn't she done any of it already, as Trump said? Why did she vote for spending that made inflation worse, a very basic principle she doesn't seem to understand? //
But one of the things she's been saying was that Goldman Sachs had endorsed her "plan." //
Trump War Room @TrumpWarRoom
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Kamala: "Goldman Sachs said my plan would grow the economy and his plan would shrink the economy."
The Goldman Sachs CEO said earlier today that Kamala lied about this.
6:46 PM · Sep 12, 2024
Republican Sen. Mike Lee (Utah) also weighed in on the BLS report, with thoughts similar to those of Trump:
This disastrous report from the Bureau of Labor Statistics shows what Americans have known for years: illegal immigration drives down the wages and jobs of American citizens, pushing out struggling families.
Statistics show that all of the job growth Kamala Harris and Joe Biden’s claim to have created has not been for American citizens.
It has entirely gone to illegal immigrants whom they have imported at great harm to our country.It appears that the primary beneficiaries of the Biden-Harris economy are illegal aliens. > The ones shouldering the burden of their suppressed wages, inflated cost of living, and migrant crime are the American people.
This is the most disastrous presidency of the last 50 years, a great betrayal of our nation.
Not to nitpick with Sen. Lee, but a strong argument can be made that the Biden presidency is the worst in American history.
On 2023-10-16, Marc Andreessen, (creator of Mosaic, the first graphical Web browser, co-founder of Netscape, and general partner of superstar venture capital firm Andreessen Horowitz) published a 5200 word document, “The Techno-Optimist Manifesto 6”, proclaiming technology as the root of all human progress since our species emerged from the forager lifestyle and absolutely essential to the achievement of the human destiny now and in the future, here on Earth and onward to the stars. //
I agree with just about everything in this manifesto (can you guess my lone quibble?). I wish I’d written it. I wish I wrote so well. This is well worth your time to read and digest. We are engaged in a struggle for the future. Andreessen clearly identifies the enemy.
The Swiss are renowned for crafting the finest watches in the world, such as the Patek Philippe. The Swiss are now credited with inventing the most effective fiscal rules in the world, the Swiss debt brake.
The debt brake was enacted as a constitutional fiscal rule through referendum in 2001, with support from 85 percent of Swiss citizens. Like many countries, the Swiss have encountered recessions accompanied by unsustainable growth in debt. The debt brake was enacted to impose more effective constraints on federal spending and restore sustainable levels of debt. Over the past two decades, the Swiss cut debt as a share of national income roughly in half. //
Like a Swiss watch, the debt brake has several parts that are synchronized to constrain fiscal policies. The most important part is a rule that constrains the growth in federal spending to the rate of growth in potential output. This means that in the long term the federal government cannot grow more rapidly than the private sector.
Another rule is designed to stabilize spending over the business cycle. The federal government can incur deficits in periods of recession but must offset those deficits with surplus revenue in periods of economic growth. The rules cap deficit spending. If the deficits exceed 6 percent of expenditures, the excess must be eliminated within the next three annual budgets by lowering the expenditure ceiling. A compensation account is used to track deficits and surpluses over time. //
The debt brake has fostered fundamental reforms in the budget process in Switzerland. Before the debt brake was enacted, the Swiss relied on a bottom-up approach to budgeting. Each ministry proposed its own budget, and these were then aggregated into a total budget. Bottom-up budgeting is biased toward deficit spending, as each ministry lobbies for its own programs. The debt brake requires top-down budgeting. The finance minister is now required to draft a budget that conforms to debt brake rules, and that budget is then broken down into separate budgets for each ministry. //
The Swiss debt brake has proven to be the most effective of the new generation of fiscal rules enacted in developed countries. The reason is that it replaces discretionary fiscal policies with rules-based policies. ///
It only works for a moral people who have s conscience.
Both she and Joe Biden seem to think the role of the government is to open up the taxpayers's coffers and use the money in giveaways to buy votes. They don't seem to understand that it's the overspending that helped to kick off the inflation that has been crushing people. So, they keep proposing things that will only make things worse. //
Kamala Harris @KamalaHarris
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Even if aspiring homeowners save for years, it is often still not enough.
My administration will provide first-time homebuyers with $25,000 to help with the down payment on a new home.
3:31 PM · Aug 27, 2024 //
Elon Musk @elonmusk
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Replying to @KamalaHarris
Unless you increase the supply of new homes, this just raises the price by $25k and does nothing for affordability
10:10 PM · Aug 27, 2024 //
Adrianne Curry @AdrianneCurry
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Replying to @KamalaHarris
and you havent done it now...why?
Why did you abuse everyone for four years?
9:14 PM · Aug 27, 2024 //
GotOutofCali
5 hours ago
There has never been a problem liberals won’t throw other peoples money at. //
Steprock
5 hours ago
The price of my home is up by nearly double over the past couple of years - I just checked yesterday. Right along with what Trump said.
Glad I bought when I did. The Lord was looking out for us and giving us open doors. 100% serious with that.
anon-pt3l Steprock
5 hours ago
Under her unrealized gain tax plan you would have to pay taxes on that increase. It’s unbelievable.
First, "fair share," as defined by whom? Rhetorical question — the Democrat Party, of course. Second, the Democrat Party is incapable of reaching peak wealth redistribution. The left will never reach a point where it believes it is finally robbing a sufficient amount of money from the wealthy to redistribute to the poor.
Never mind that the top 1 percent of earners already pay 45.8 percent of federal income taxes, and the top 50 percent of all taxpayers pay 97.7 percent, while the bottom 50 percent pay the remaining 2.3 percent. https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/
"Fair share"? Seems to me that the bottom 50 percent of earners need to pay their fair share. //
While the left continues to preach the zero-sum-game mentality, or a "scarcity mindset"; the belief that there are limited resources, so if someone else has something you want, you believe there is less of it for you, conservatives subscribe to an "abundance mentality" — the belief that there is enough wealth, resources, and success in the world for anyone who works to achieve their goals.
Henry Ford famously wrote an autobiography, "My Life & Work":
As long as we look to legislation to cure poverty or to abolish special privilege, we are going to see poverty spread and special privilege grow.
Welker asked Vance: "How do you respond to that charge that Trump's tariffs would hurt the middle class?"
JD was ready with an answer — and more than eager to respond:
If you sit back a little bit, Kristen, there's this whole thing that Kamala Harris did at the convention where she made a bunch of claims about what would happen, and not enough ... reflection on what already happened, because Donald Trump already was president; he used tariffs to bring manufacturing jobs back to our country and I' think he'll do it again. He did it while keeping prices extremely low.
[I]f you go back to the Trump presidency, we had 12,000 factories that were built during Donald Trump's presidency, inflation never really ticked above two percent during his entire administration ... and was about one-have percent, most of the time. So when Kamala Harris says, 'If we do the thing that Trump already did, it's gonna be way worse than it was last time.' I just don't think that makes a lot of sense.
Why in the ever-loving world should Elon Musk use one red cent of his vast wealth to help improve Mid-Market? In case nobody informed you, Mr. Shaw, that's not his job. The taxpayers are paying some of the highest taxes in the republic, and they have every reason to expect that some of that money would be used to keep people from, well, shooting up and crapping on the streets. That's not Elon's responsibility. He doesn't owe Mid-Market, the Tenderloin, or the city of San Francisco a damn thing. But that's just like the left - sit around whining, waiting for someone else to do something.
Some years ago, one of my literary heroes, Robert Heinlein, wrote about situations just like this:
Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.
This is known as "bad luck.” //
If I could offer any advice to Chiu, Shaw, and Gavin Newsom, it would be that they had better keep a sharp eye peeled for locusts. //
Brytek
4 hours ago edited
If they see locusts coming they will make the people in SF eat them instead of meat, that is how they roll.
Well, let's check in with Commerce Secretary Gina Raimondo who was asked about this at the DNC on ABC. She was asked if she thought these new numbers could be a "potential liability for this [the Harris-Walz] campaign."
Greg Price @greg_price11
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Reporter: Nearly a million jobs "created" since Kamala took office do not exist.
Raimondo: “I don’t believe it because I’ve never heard Trump say anything truthful.”
Reporter: "It is from the Bureau of Labor."
Raimondo: "I'm not familiar with that."
5:57 PM · Aug 21, 2024
Jeff Carlson @themarketswork
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Follow
Replying to @greg_price11
I mean, holy crap...
This is the current US Secretary of Commerce.
To be unaware of this report that rewrote very jobs report the Biden Administration has trumpeted over the last year... speechless
If she's lying in such a bald face manner... also speechless
6:27 PM · Aug 21, 2024
US Oil & Gas Association @US_OGA
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We are basically being governed by a High School Student Council who think they are in charge....
While JPMorgan Chase & Co. forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million.
BREAKING: 818,000 jobs that the Harris-Biden administration claimed to have “created” aren’t actually there, according to the Bureau of Labor Statistics.
This is the largest downward revision to employment in 15 years. pic.twitter.com/6ryjKs5kbK
— RNC Research (@RNCResearch) August 21, 2024
On Friday in North Carolina, what Harris was proposing was $1.7 trillion in giveaways/spending which would cause more inflation, as well as price controls which would further destroy the economy. She doesn't understand (or care) what she did wrong the first time and she's promising to do it again (make it even worse). Are we supposed to believe that corporations suddenly decided to be more greedy under her and Biden more than Trump? //
All Harris cares about is making promises to get elected, damn the consequences of those promises.
A 2019 video of a Kamala Harris campaign event made the rounds on the internet Friday night after the Democrat presidential hopeful unveiled some of her economic proposals, including her apparent desire for Soviet-style price controls on groceries.
During her ill-fated run for president, the now vice president said she could lower prices on drugs simply by having the government seize patents from pharmaceutical companies and “take over.” That’s not how a free-market economy is supposed to work, but the giddy Harris didn’t care:
Even CNN—normally a reliable mouthpiece for the DNC—jumped in with two separate segments savaging Kamala's "price gouging" proposals, which seem to come straight out of Venezuela.
We'll start with the network's Economics and Political Commentator Catherine Rampell, who went off on Kamala's Marxist ideas for almost a full two and a half minutes:
...first of all, nobody can explain what price gouging means. It's like that old line about pornography; I know it when I see it. In the sense that what does it mean to have an excessive price or an excessive profit margin? That seems to be shorthand for a price or a profit margin that bugs me, that seems too high. //
It's not going to be markets, it's not going to be supply and demand that's determining how much your grocery store charges you for milk or for eggs. It's going to be some bureaucrat in DC, which seems totally unworkable, first of all.
We've seen this kind of thing tried in lots of other countries before-- Venezuela, Argentina, the Soviet Union, etcetera. It leads to shortages, it leads to black markets, you know, [and] plenty of uncertainty…
WaPo Busts Kamala in Glorious Op-Ed Linking 'Communist' and Her Proposed 'Price Controls' – RedState
What are these “clear rules of the road” or the thresholds that determine when a price or profit level becomes “excessive”? The memo doesn’t say, and the campaign did not answer questions I sent seeking clarification. //
It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food. Supply and demand would no longer determine prices or profit levels. Far-off Washington bureaucrats would. The FTC would be able to tell, say, a Kroger in Ohio the acceptable price it can charge for milk.
At best, this would lead to shortages, black markets and hoarding, among other distortions seen previous times countries tried to limit price growth by fiat. (There’s a reason narrower “price gouging” laws that exist in some U.S. states are rarely invoked.) At worst, it might accidentally raise prices. //
But more to the point: If your opponent claims you’re a “communist,” maybe don’t start with an economic agenda that can (accurately) be labeled as federal price controls. //
The "policy" is horrible, but you're just supposed to be vibing on how she's going to take care of the evil corporations. She apparently vetted this policy like she vetted her running mate Tim Walz — which is to say not at all or keeping her eyes covered about all the bad stuff. //
anon-aqyc Jerry's Middle Finger
an hour ago
They are just following the playbook of every Marxist since the beginning of time. Promise the world and when you get in power bring out the iron fist.
I am aware that Marx did not write about it until the 19th century, but the idea was not new with him. //
St. Joseph, Terror of Demons Jerry's Middle Finger
an hour ago
They know it doesn’t work and they don’t care. If everything fails, that means the elites get more money and more power. //
Donner’s Party
an hour ago
WaPo must have gotten the Memo from Bezoes, that Kamala’s new Joy policy wasn’t going to work for Amazon.
No Amazon, No WaPo, No Job.
"It's going to stop us from being builders, and we need to support the side that's going to let our civilization thrive," Lonsdale added.
That's always been the trouble with leftist policies; they are deeply and fundamentally anti-growth, anti-business, and anti-prosperity. Kamala Harris's policies (at least, what we know of them if you can keep track of her policy changes as they go by) include increasing taxation and regulation and attempting to make sure "everyone ends up in the same place," which smacks of socialism.
These are not things that investment bankers or tech moguls want to hear. //
anon-x8p1
8 hours ago edited
Don' you like the idea Kamala will pay millions of our tax dollars for armies of new government employees, just to track down the price of celery at your local super market?
Always, always, always ask how many new government employees (D) any Democrat program will require. That is the real name of the game - expand Big Government(D).
We are close to a critical tipping point where Big Government(D) finally swallows the rest of us whole. Yes, it is that critical.
Argentina's recent repeal of rent control by libertarian President Javier Milei has led to a surge in housing supply, with the freedom to negotiate contracts, previously restricted, directly causing a drop in rental prices.
Milei, a self-described "anarcho-capitalist" known for his free-market approach, repealed the 2020 Rental Law, enacted by former leftist President Alberto Fernández, which had imposed restrictions on landlords and led to a significant decline in rental availability.
With Argentina's inflation reaching 211.4%—the highest in 32 years—rent prices were adjusted every 12 months, and leases had to last at least three years. The law, introduced in 2020, ended up distorting the real estate market and hurting both landlords and tenants.
The law aimed to provide tenants with more financial security, but by the end of last year, an estimated one in seven homes in Buenos Aires was sitting empty as landlords chose not to rent them out in Argentine pesos. Deposits were capped, and it was nearly impossible to end tenancies early.
For many locals, finding a new apartment had become "mission impossible." But after the repeal, Buenos Aires saw a doubling of available rental units, and rental prices have stabilized. Under the new rules, landlords and tenants have more freedom to agree on lease terms. If the duration isn't specified, it defaults to two years.
Big government. Big spending. Big tax increases. //
IRS data showed that Minnesota loses “about ten households earning more than $200,000 for every six that it gains, which is the fifth worst ratio among the states.”
There are lies, damned lies, and government statistics — and maybe none is more damnable than the official unemployment rate which is half the actual rate, according to Rasmussen. Worse, the number of Americans who are neither retired nor employed is more than four times higher than July's official rate of 4.3%. //
Rasmussen surveyed nearly 9,000 American adults and found that in July the percentage of Americans who are unemployed and looking for work — this is the number that the Bureau of Labor Statistics (BLS) should report each month — was 8.4%. The BLS reported a rosy 4.3% unemployment rate last month, up from June's equally imaginary 4.1%.
From there, things only get worse. Because under Bidenomics, of course, they do.
One in four adult Americans is retired, which is nice for them. Fifteen percent say they're entrepreneurs (that can be anything from driving an Uber to launching a Silicon Valley startup), and just under 30% are employed by a private company.
Nearly one in 10 work for the government at one level or another. //
That means the percentage of Americans who could be working and perhaps would really like to be working but either can't find work or have given up finding work is 18.1%. That's more than four times the official unemployment rate.
It also means that the 45% of Americans who do work in the private sector are, in one way or another, supporting the 55% who don't, can't, or won't work.
Reuters
@Reuters
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US Vice President Kamala Harris hailed the latest jobs report and praised ‘Bidenomics’ at an event in Washington, D.C. https://reut.rs/47wSDr1
7:10 PM · Aug 4, 2023. //
The Federal Reserve has raised interest rates in a constant effort to combat inflation. Typically, when you start raising interest rates at that pace, it leads to a recession. I say "typically" because it hasn't happened yet, and many economists assumed the Fed had pulled off the soft landing. However, the sudden contraction in the jobs market has brought those worries back to the fore, and people are panicking.
If the Biden-Harris administration was taking credit for the economy a year ago, then it should be made to take credit for it now. In truth, Biden's policies did create the sharp rise in inflation that we as consumers are still dealing with. In truth, that rise in inflation led the Fed to start hiking rates, which forced the economy to begin to contract. In truth, this has led us to where we are today.
According to Harris' spokesperson, guess who's somehow responsible for their bad jobs report?
"Donald Trump failed Americans as president, costing our economy millions of jobs, and bringing us to the brink of recession," Harris for President spokesperson James Singer said in a statement. //
Ultimately, it always comes down to the economy and Harris just gave a sure-fire reason why you should not vote for her, when she refuses to take responsibility for the administration's own actions. //
WackAMole
6 hours ago
She’s just using the Joe B playbook, lie and assume that the media will agree and the public is stupid.