Economics

People are hungry under the lockdown in Shanghai

People in Shanghai are hungry. The screams heard in the annoying video above are more than mere frustration. China has put millions of people under a severe lockdown that was originally supposed to last five days. In the wake of the lawsuits, China has extended its lockdown indefinitely under its zero-cove tolerance policy.

Those who were ready for the five-day lockdown are now rationing what food and water they have left. Tap water is not necessarily safe to drink, and people are starting to boil water if they have a way to do it. According to my source, people living in the community gather together to buy bulk food orders if possible for a premium. China is offering a closed-loop system for some workers who have to stay in their jobs for the rest of the lockdown. Therefore, the supply of workers is low, and the demand is extremely high. Hungry citizens usually log in to the Early Meal Delivery app and usually only have a few minutes to place their bulk order. The food they eat is carefully rationed because there is no guarantee of the next meal.

The exchange system always appears in times of disaster. People are doing business with each other wherever possible, even though they are forbidden to leave their homes. No one is allowed to visit relatives or examine the elderly or the disabled. Worse, people are unable to access medical services or prescription drugs. The government continues to provide rationed food, but its rollout has been so ineffective that most have no access to food.

China will let its people die of dehydration and starvation Protect them From a virus with a negligible mortality rate. This is how the revolution started.

«Black Lives Matter Leaders spend charity on fancy lifestyles
Economics

Are Democrats going to dump Biden?

[embed]https://www.youtube.com/watch?v=j58Bx0Ebppw[/embed]

Please comment: Marty, I remember your computer projecting that the president would not finish this term. You said you didn't see Trump run for a second term and I think you said you didn't think Trump would win. Tucker is now clearly saying that Democrats want to dump Biden even for the medium term. Since you warned that if Trump is elected he will not end, my question is does this still apply to Biden? Do you have any updates on this political uncertainty?

Many thanks to Socrates. The only way to cut through all these opinions.

HK

Answer: In October 2020, Democrats were introducing a constitutional amendment to create a body that would recommend the removal of a president due to his inability to fill office. Nancy Pelosi has made it clear that she has nothing to do with President Trump. Indeed, an amendment to the constitution requires state approval. There is no way to pass it in a short order to influence Trump. However, the election schedule was fixed earlier. Even after the CIA election, Kennedy asked Trump to suspend the release of documents because he knew he would not be allowed to win.

There was a law in this regard Mental capacity A president who would obviously influence the next president, whom they expected to be Biden. This is another sign that they actually knew there was a problem with Biden that they feared could get worse. But the leader among the Democrats was clearly Barney Sanders, and he said big money behind the Democrats. By no means. Where none of the Democrats wanted to convince Biden their donors and convince them that they could control the White House, they turned around and said to Biden - "Tag, you do it!" They needed Biden to stop Barney and to appease Soros and Shoaib.

It stands now, under 25th AmendmentA president can be removed from office if a The majority Cabinet members and Vice President Think of him as incompetent. Article four of the 25th Amendment It also states that if a majority of an organization established by law, including the vice president, declares in writing that the president is incompetent and unable to perform his duties, the vice president immediately becomes acting president.

I don't believe they would do such a thing, because then VP Harris was president and No one Like him at all. They need to appoint a powerful VP who can serve as president but keep Soros and Shoaib happy. Soros in the back Democrat funding To oppose this য়ের 3.5 trillion spending program as well as the Treasury Secretary's opposition to pushing groups on this agenda. As a businessman, he knows full well that it will hurt the US dollar and the US economy. The purpose here seems to be to weaken the United States so that it can surrender to the United Nations-led Soros Open Society. Soros is anti-democracy, because we are the most foolish to know which is the best. He also puts his sideshow in Davos and probably pays party benefits or door prices instead of bribes.

Although many pray for Soros' death, unfortunately, he is training his son Alexander Soros to shake all political hands behind the scenes. George Soros set his son on his own philanthropy, and Alex is now a major donor to the Democrats, giving him access and influence. Alexander Soros Deputy Chair of the Open Society Foundation. He sits on the boards of Bird College, Bend the Ark Jewish Action, and Central European University. Although George Soros did not come to appear with the Democrats, he did send his son. Alexander met with VP Pick, Harris, as he was in the process of being selected and his father was informed and approved.

Make no mistake about it; If Alexander Soros was on the phone, they would pick it up. He is considered as leftist as his father. He was born in 1985, yet has his own foundation with his father's money. So anyone who wants to know why the Democrats have moved so far to the left, just look at Soros, who wants to end the United States in order to hand over all power to the UN in an open society. That's why Democrats are allowing at least 400,000 people to flood the country to vote for Democrats. Rumor has it that before the 2022 election, Biden will sign an executive order granting all illegal citizenship so they can vote.

Democrats have been bought and paid for, and it has been alleged that they receive secret benefits from the Quantum Fund.


Article 4

Whenever the vice president and most of the executive branch or chief executive of other bodies, such as Congress, are provided for by law, the Senate sends a written declaration to supporters of the President and to the Speaker of the House of Representatives that the President is incapable of discharging his office. Take over the powers and responsibilities of the office.

Thereafter, when the President sends his written declaration to the Acting President of the Senate and the Speaker of the House of Representatives that no disability exists, he shall resume the powers and responsibilities of his office unless the Vice President and the chief executive of any one executive body By law, they can send a written declaration to the President of the Senate and the Speaker of the House of Representatives within four days that the President is unable to step down. And the responsibilities of his office. The Congress will then decide on the matter, if not in session, and will convene within forty-eight hours for that purpose. If Congress, within twenty-one days of receipt of the next written declaration, or, if Congress is not in session, within twenty-one days of Congress convening, a two-thirds vote in both chambers determines that the President is incapable of discharging his office. Continue to fulfill responsibilities; Otherwise, the President will resume the powers and responsibilities of his office.

"Pakistan - Conspiracy or Revolution?
Economics

No Patient Left Alone Act

Florida Governor Ron Descentis has repeatedly proven that he is a man of the people. DeSantis signed SB 988, the No Patient Left Alone Act, which guarantees that no one in the state of Florida will die alone in hospital, hospice and long-term care facilities. Under the oppressive Kovid Act, countless people were unable to see their loved ones in their last days. This is a malicious and deliberate attempt to force the population to cave in to Big Pharma because the medical community can no longer deny that the vaccine does not prevent infection.

Many states still require proof of vaccination or PCR testing to access medical facilities. A friend of mine recently lost his grandfather, and his 90-year-old grandmother was barred from accessing the New York-based facility because she had not been vaccinated. PCR results take time to process and are only valid for a few days. There was no final word or hug farewell. These laws have severely punished everyone in our society.

DeSantis is finally ending this unfounded persecution. “Throughout the epidemic, the federal government has waived the protection of families to visit their loved ones in hospital and long-term care facilities. This is unacceptable, "said Governor Ron Desantis. "Here in Florida, we recognize it The connection between family and people is one of the most important aspects of physical, mental and emotional well-being And we're confident that Floridians will never again be denied the right to visit relatives and friends while in a hospital or nursing home. "

The new law will protect families and loved ones from the most painful situations:

  • The last situation of life.
  • A resident, client or patient who was living with family before being admitted to provider care is struggling with climate change and lack of personal family support.
  • A resident, client or patient is making one or more major medical decisions.
  • A resident, client or patient is experiencing emotional distress or mourning the loss of a friend or family member who has recently died.
  • A resident, client, or patient needs a hint or encouragement to eat or drink that was previously provided by a family member or caregiver.
  • A resident, client or patient who spoke and communicated with others rarely spoke.
  • For hospital, delivery including delivery and delivery.
  • Pediatric patients.

In fact, the system has abandoned "pediatric patients" because of these unimaginable restrictions. Senator Ileana Garcia said the "No Patient Left Alone Act is about protecting human dignity and compassion." It should be protected as a basic human right. I don't see it as a federal-level ruler because the Biden administration wants to dissent.

«German parliament blocks more than 70 vaccine mandates
Economics

Market Talk – April 11, 2022

Asia:

China's manufacturing inflation was higher than expected in March. The producer price index rose 8.3% from a year earlier, official data showed Monday, above expectations of a 7.9% rise in a Reuters poll. Chinese consumer price inflation also rose higher than expected in March, with the consumer price index rising 1.5% year-on-year. This was above expectations in a Reuters poll of 1.2% growth.

Major Asian stock markets had mixed days today:

  • NIKKEI 225 fell 164.28 points, or -0.61%, to 26,821.52
  • Shanghai fell 84.72 points, or -2.61%, to 3,167.13
  • Hang Seng was down 663.71 points, or -3.03%, at 21,208.30
  • The ASX 200 rose 7.20 points, or 0.10%, to 7,485.20
  • Kospi fell 7.29 points, or -0.27%, to 2,693.10
  • The Sensex fell 482.61 points, or -0.81%, to 58,964.57
  • Nifty 50 decreased by 109.40 points or -0.62% to 17,674.95

Major Asian currency markets had mixed days today:

  • AUDUSD fell 0.00409 or -0.55% to 0.74178
  • NZDUSD fell 0.00186 or -0.27% to 0.68260
  • USDJPY rose 1.232 or 0.99% to 125.521
  • USDCNY rose 0.01766 or 0.28% to 6.38534

Precious Metals:

  • Gold rose 0.27 USD / t oz or 0.01% to 1,946.12
  • Silver rose 0.095 USD / t. oz or 0.38% to 24.845

Some economic news from last night:

China:

CPI (MoM) (Mar) decreased from 0.6% to 0.0%

CPI (YoY) (Mar) increased from 0.9% to 1.5%

PPI (YoY) (Mar) decreased from 8.8% to 8.3%

New Zealand:

Electronic card retail sales (MoM) (Mar) increased -7.8% to -1.3%

Electronic card retail sales (YoY) (Mar) fell -1.5% to -0.5%

Today's economic news

China:

M2 Money Stock (YoY) (Mar) rose 9.2% to 9.7%

New loans (March) increased from 1,230.0B to 3,130.0B

Debt growth (YoY) (March) remains the same at 11.4%

Chinese total social financing (March) increased from 1,190.0B to 4,650.0B

Japan:

Machine Tool Order (YoY) decreased from 31.6% to 30.2%

EUROPE / EMEA:

Ukraine's economy could shrink by 45.1% this year, while sanctions against Russia are expected to reduce its economic output by 11.2%, economists say. Emerging and developing countries in the region have already been hit hard by the Kovid-19 epidemic, the World Bank report said, adding that "this will be the second contraction in a few years, and twice as large as the epidemic-induced contraction."

More broadly, regional economies in Europe and Central Asia are now expected to shrink by 4.1% this year - contrary to the 3% growth forecast. The World Bank says that in addition to Russia and Ukraine, Belarus, Kyrgyzstan, Moldova and Tajikistan are expected to fall into recession this year. More than 4.5 million people have fled Ukraine as refugees since Russia's first invasion in late February.

Europe's major stock markets had a mixed day:

  • The CAC 40 rose 7.59 points, or 0.12%, to 6,555.81
  • The FTSE 100 fell 51.25 points, or -0.67%, to 7,618.31
  • The DAX 30 fell 90.89 points, or -0.64%, to 14,192.78

Europe's major currency markets had mixed days today:

  • EURUSD rose 0.0006 or 0.06% to 1.08817
  • GBPUSD fell 0.0007 or -0.05% to 1.30235
  • USDCHF decreased 0.00276 or -0.30% to 0.93138

Today's economic news from Europe:

United Kingdom:

The NIESR monthly GDP tracker remains the same at 1.0%

Construction output (MoM) (February) fell to -0.1% from 1.6%

UK construction output (YoY) (February) fell to 6.1% from 10.0%

GDP (MoM) has increased from 0.8% to 0.1%

GDP (YoY) has increased from 10.5% to 9.5%

The service index fell to 1.8% from 0.8%

Industrial production (YoY) (February) fell to 1.6% from 3.0%

Industrial Production (MoM) (February) fell to -0.6% from 0.7%

Manufacturing Production (MoM) (February) fell to -0.4% from 0.9%

Manufacturing Production (YoY) (February) fell to 3.6% from 5.3%

Monthly GDP 3M / 3M changes from 1.3% to 1.0%

Trade balance (February) has gone from -23.90B to -20.59B

Trade balance non-EU (February) from -11.64B to -12.14B

US / Americas:

The White House has issued a warning - the next inflation report will be "remarkably advanced". The CPI report will be released tomorrow morning, and the White House is preparing for the number for panic. Secretary Saki called the issue "Putin's price rise" and blamed higher education lessons on the war in Ukraine. As a reminder, the February report reached 7.9%, the highest in 40 years.

The US Department of State continues to suspend student loan payments. Borrowers will be given an additional four months to repay in an effort to help those who were left behind during the epidemic. Educational debt in the United States has exceeded 7 1.7 trillion as this burden affects the overall credit card and household debt. About 10 million borrowers are criminals or defaulters. Therefore, wage garnishing and collection activities will be suspended for an additional four months, but tuition fees will have to be paid in the end.

US market closed:

  • The Dow fell 413.04 points, or -1.19%, to 34,308.08
  • The S&P 500 lost 75.75 points, or -1.69%, to 4,412.53
  • Nasdaq fell 299.04 points, or -2.18%, to 13,411.96
  • Russell 2000 fell 14.24 points, or -0.71%, to 1,980.32

Canada Market Closed:

  • The TSX Composite fell 83.86 points, or -0.38%, to 27,790.49
  • The TSX 60 fell 3.82 points, or -0.29%, to 1,320.55

Brazil market closed:

  • Bowespa fell 1,369.41 points, or -1.16%, to 116,952.85

Strength:

The oil market was mixed today:

  • Crude oil fell 3.97 USD / BBL or -4.04% to 94.280
  • Brent fell 4.5 USD / BBL or -4.38% to 98.28
  • Natural gas rose 0.355 USD / MMBtu or 5.65% to 6.6320
  • Petrol fell 0.1212 USD / GAL or -3.87% to 3.0104
  • Heating oil decreased 0.0385 USD / GAL or -1.16% to 3.2791

The above information was collected on Monday around 14:06 EST

  • Top products beneficiaries: wheat (2.95%) and natural gas (5.65%), orange juice (3.37%), cotton (2.70%)
  • Top products damaged: wood (-7.90%), aluminum (-4.31%), Brent (-4.38%) and crude oil (-4.04%)

The above information was collected around 14:22 EST on Monday.

Bonds:

Japan 0.24% (+ 1.5bp), US 2 2.50% (-0.016%), US 10 2.7858% (+ 8.2bps); 2.82% (+ 0.100%) of US 30, Bunds 0.8200% (+ 11bp), France 1.312% (+ 5.3bp), Italy 2.463% (+ 8.4bp), Turkey 23.94% (-6bp), Greece 2.874% (- 6bp) bp), Portugal 1.723% (+ 8.4bp); Spain 1.781% (+ 7.2bp) and UK Gilts 1.848% (+ 9.6bp).

Market Talk - April 8, 2022
Economics

Cold War Music: A Top Ten List

The Cold War ended on November 9, 1989, sometimes with the fall of the Berlin Wall. To be sure, there have been important events to date and others are following And, not everything went smoothly.

After the collapse of the Soviet Union, there were nationalist movements and radical Islamic terrorism in some of Russia's client states. Thereafter, Russia began interfering in matters considered its "imminent republic." However, until the invasion of Ukraine on 24 February 2022, it was assumed that these conflicts were a reduction in violence and a departure from the growing overall trend of living standards and civil liberties.

Now, we face the prospect of a new Cold War.

The following top ten list of popular songs (original) is designed to capture the frustrations of the Cold War period. The countdown reflects the chronology of time and the social impact of the song in many ways.

10. Mr. Khrushchev, Bo Didley (1962)

[embed]https://www.youtube.com/watch?v=PIXnyz7_T98[/embed]

The song reflects the nation's stupidity in the 1960s under President John F. Kennedy. He urged Americans, "Don't ask what your country can do for you. Ask what you can do for your country." Through selfless sacrifice to replace self-reliance (or what people should do for themselves), he creates the stage for a great society where a growing number of people specifically ask what their country can do for them. Kennedy added, "We will pay any price, carry any burden, face any adversity, support any friend, oppose any enemy," a mentality that led us to the Vietnam War.

9. Russian, Sting (1985)

[embed]https://www.youtube.com/watch?v=wHylQRVN2Qs[/embed]

Sting misjudges both Soviet Premier Nikita Khrushchev and President Ronald Reagan. Khrushchev's "threat" to bury us was not with bombs, but with refrigerators, family cars and good schools and medical care. Similarly, Reagan wanted to overtake Communism so much that it would explode. We conducted the experiment and found out which of the two economic systems was actually able to deliver the product.

8. The Revolution, The Beatles (1968)

[embed]https://www.youtube.com/watch?v=BGLGzRXY5Bw[/embed]

The Beatles presented a different perspective, not military or economic, but cultural. Rejecting the "hateful mind", seeing the murderous demagogues of real-world communism as they really were, and taking a moderately optimistic view of the future.

7. Commissioner, Falco (1981)

[embed]https://www.youtube.com/watch?v=8-bgiiTxhzM[/embed]

In the 1980s, real-world communism was recognized as the greatest form of corruption by all except the most committed members of the New Left and followers of the critical theory of Herbert Marquez. The elegant proof of Ludwig von Mrs. and. The central plan that FA Hayek did not work (even if the bureaucrats had honest intentions) actually missed the mark. It was not "economic reckoning under socialism." It was "We pretend to work and they pretend to pay."

6. 99 Hot Air Balloons, Nena (1983)

[embed]https://www.youtube.com/watch?v=Fpu5a0Bl8eY[/embed]

Also in the 1980s, the risk of accidental nuclear war was recognized. In Germany, children's balloons are distinguished from weather balloons and other types of balloons by the suffix "loft". 99 In Lufthansa, a fight is stopped by misreading Lufthansa as a warning balloon (as used during WWI when a chemical attack was detected). To maintain the meter in the English translation of the song, "Luftballons" has been changed to "Red Balloons".

5. Eve of Destruction, Barry McGuire (1965)

[embed]https://www.youtube.com/watch?v=qfZVu0alU0I[/embed]

From time to time, the Cold War became heated. Most notably in Vietnam, but also in other wars of national liberation and other conflicts.

4. War (What's Good for It), Edwin Starr (1970)

[embed]https://www.youtube.com/watch?v=ztZI2aLQ9Sw[/embed]

And, here in the United States, these conflicts have been linked to ethnic divisions.

3. We Didn't Start a Fire, Billy Joel (1989)

[embed]https://www.youtube.com/watch?v=eFTLKWw542g[/embed]

A generation is overwhelmed by the burden of war and the threat of nuclear destruction.

2. Back to the USSR, The Beatles (1968)

[embed]https://www.youtube.com/watch?v=nS5_EQgbuLc[/embed]

In the midst of this brilliant Beatles satire, the Beatles imagined a Soviet spy returning to the USSR after being raised in the West, with some samples from the Beach Boys. Again, with the Beatles, the emphasis is on culture.

1. A Hard Rain A-Gona Fall, Bob Dylan (1963)

[embed]https://www.youtube.com/watch?v=T5al0HmR4to[/embed]

The song was written after the Cuban Missile Crisis. For many at the time, it was "better dead than red." The song was performed when Dylan received the 2016 Nobel Prize in Literature.

But with the fall of the Berlin Wall, we were not red or dead. Instead, we were alive and free, and with the revolution in the developing economy of the 1990s - ready for the greatest advancement in the history of global quality of life.

On September 27, 1991, President George HW Bush warned the U.S. Missile Forces. Great Falls, Montana, the site of one of our missile bases, the realization of a terrible possibility that we missed. The mayor of that city and the commander of that missile base, Vijay, decided to march. After teaching Air Force officers who took their turn at the launch site in an MBA program there, I can say that the Victory Parade was cathartic.

And here we are again, under the ghost of nuclear war. Which songs will follow and who will sing them?

Clifford F. Thesis

Clifford F. Thesis

Clifford F. Thesis is a professor of economics and finance at Shenandoah University, author, co-author, contributor and editor of more than a hundred books, encyclopedia entries and articles in scholarly journals.

He is a member of the editorial board of the Journal of Private Enterprise and a former Bradley Resident Scholar of the Heritage Foundation. He is the past president of the faculty senate of Shenandoah University and the University of Baltimore. He has also served in the U.S. Army and Army Reserve.

Get notifications of new articles from Clifford F. Thies and AIER.
Economics

Windfall Profit Tax Redux | AIER

Senators Elizabeth Warren (DMA) and Sheldon Whitehouse (DRI) are pushing for a new windfall profit tax on petroleum. It will restore the Carter-era legislation originally enacted in 1980 in response to the second oil spill. Since Congress is considering and debating a policy that has actually been implemented in the past, the first question is how well it worked in the first place. Time North is not good at all. Not just bad, but God-fearing bad.

The power crisis began in 1973, when some Arab OPEC members sought to punish the United States and our allies for supporting Israel in the Yom Kippur War. In the long run, however, the main geopolitical outcome of this war was the recapture of the Sinai Peninsula from Egypt's Soviet orbit, which eventually led to the establishment of peaceful and normal relations between Egypt and Israel. In the early days of the conflict, an oil embargo seemed to allow Arab oil producers to show solidarity with Egypt and Syria. Sanctions directly affected Europe and Japan, which imported most of their oil from the Middle East, and less directly affected the United States. Then, as of now, the United States produces most of its oil domestically. By cutting off our allies' traditional and cheapest oil supplies, sanctions shift European and Japanese demand to other world supplies, including US oil, which drives world prices.

Loose monetary policy under the Johnson and Nixon administrations has already led to high inflation, and President Nixon imposed his notorious wages and price controls. Although there was a shortage of goods and services across the country due to price controls, they were initially extremely popular and contributed to Nixon's landslide re-election in 1972. As a result of the 1973 embargo, world oil prices rose from 00 3.00 per barrel to $ 12.00. In the United States, the retail price of gas has risen by about 30 percent, above $ 0.50 per gallon, although without price control it would have been much higher. After Nixon's re-election, price control of most products was allowed to end, but they were kept in retail gasoline.

While 5 0.55 per gallon of gas may seem cheap to us today, it was not only a punitive price increase at the time, most car fuel economies in the 1970s were also very poor by today's standards. Some full-size cars can get up to 20 miles per gallon, and many luxury cars still get less than 10 mpg. As a result, gas shortages were widespread, and Nixon's price controls made them worse. Several states have implemented odd-even rationing, where even cars with even-numbered license plates were allowed to purchase gas on even-numbered days, and so on. As a result, motorists waste 150,000 barrels of scarce oil per day while waiting in line to buy gas. .

Then the Iranian Revolution of 1979 overthrew the Shah and disrupted Iran's oil production, triggering a second oil spill. To make matters worse, Iraq invaded Iran in 1980, shutting down much of Iraq's oil production. With world oil prices reaching about $ 40 per barrel, retail gas prices in the United States often exceed the unprecedented $ 1.00 per gallon. Gas prices continued to rise until 1983. President Carter was trying to push through energy control legislation through Congress, but the second oil push made the rapidly rising gas prices politically more difficult. The agreement was to phase out prices, but in return he had to support the Crude Oil Windfall Profit Tax Act of 1980. An exceptionally complex tax was applied to distinguish between the actual selling price of U.S. crude oil and the price of somewhat arbitrary removal: the 1979 base price of crude oil was adjusted for inflation and state taxes.

Since the government would occupy 15-70 percent of any oil revenue above the 1979 equivalent price, imported oil was significantly cheaper than domestic, shifting much of U.S. demand from domestic to foreign sources. Medium high market prices for crude oil will encourage producers to dig new wells and reopen closed wells when prices are still low. The windfall profit tax prevents any real expansion of U.S. domestic production, and because the tax artificially limits domestic supply, oil prices rise faster এবং and last longer যা without what they would have considered without this extraordinarily bad tax. Large quantities of domestic oil that could be pumped from existing wells were simply dumped into the ground, effectively preserving it for later periods, and very few new wells could be drilled due to unfavorable tax treatment, as the tax ensures that any oil is new well. Can produce. Something like a competitive price will not be sold.

Even the name "Windfall Profit Tax" is a misnomer. It is not a tax on profits, but also on the increase in profits due to rising market prices. Instead of an excise tax on each unit sold, it is calculated as a percentage of the change in selling price above the arbitrary reference price. If the increase in prices results in less revenue for the seller, it is too bad for them, but it will also cause a reduction in production. The argument was simply to punish the oil producers, who were seen as benefiting from the power crisis, almost like the profiteers of war. It has done nothing to increase tax supplies - instead it has reduced both domestic oil supplies and tax revenues. The rise in retail gas prices has been borne by consumers, with the poorest consumers suffering the most.

Because the windfall profit tax shifts demand to foreign producers while limiting domestic oil production, it has had a real impact on our OPEC trading partners, not just for U.S. consumers, but for motorists and consumers around the world. American producers who could help meet some of our oil needs were prevented from doing so by the destructive excise tax, which foreign producers did not have to pay. We could also raise US taxes to finance foreign aid, although the benefits in this case went to some needy beneficiaries who could be imagined.

The price of petroleum has a huge and big impact on the economy, because oil, and the electricity generated from oil, is needed to produce a variety of products. Most modern plastics are petroleum-based. Modern steel mills are generally oil-powered, and although most advanced arc and magnetic induction furnaces cannot use oil directly, in many cases the huge amount of electricity they use is generated from burning oil. The same goes for converting bauxite to aluminum, a process that requires a lot of electricity.

Furthermore, even when the manufacturing process itself is not oil-intensive, the finished products have to be transported to the final user, in trucks, trains or ships, all of which burn petroleum products. Even a relatively small rise in oil prices could trigger a recession, which we saw in 1973-1975, 1980-1982 and 1990-1991. Allowing markets to operate, and allowing producers and consumers to replace cheaper products and technologies for more expensive products may alleviate or prevent recession, but forcing wage and price controls and punishing producers of badly needed goods will prevent them from meeting market demand. Gives, and can only worsen and prolong a recession.

Oil supply and demand are not very responsive to price changes in a short period of time. In the words of playwright Arthur Miller, "It's furniture and you're married to it," after buying a gas-gazing car for at least a few years. The choice of how much to drive is the only margin on which you can adjust in the face of high gas prices. Producers could drill more wells and uncap the old ones which were too expensive to pump since the price dropped, but they can't do it right now. As time goes on, producers can adjust to increase supply, such as digging new wells and reopening closures, or employing new extraction technologies such as hydraulic fracturing.

Similarly, given enough time, consumers can adjust to reduce demand by buying more fuel-efficient cars. Together these normal market adjustments help moderate to extreme price increases, although they do take some time to work. Government intervention, such as windfall profit tax, prevents market participants, both producers and consumers, from making moderate to extreme price changes on both supply and demand. This is a proven strategy to make a bad situation worse.

Robert F. Mulligan

Robert Mulligan

Robert F. Mulligan is a career educator and research economist working to understand how monetary policy drives business cycles, creating recessions and limiting long-term economic growth. His research interests include executive compensation, entrepreneurship, market processes, credit markets, economic history, time series fractal analysis, financial market pricing skills, maritime economics and energy economics.

He is from Westbury, New York and holds a BS in Civil Engineering from the Illinois Institute of Technology and an MA and PhD in Economics from Binghamton State University of New York. He also received an Advanced Studies Certificate in International Economic Policy Research from the German Institut fuer Weltwirtschaft Kiel. He has taught at SUNY Binghamton, Clarkson University, and the University of Western Carolina.

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Economics

Black Lives Matter Leaders spend their money on charity

Black Lives Matter (BLM) has become a Money laundering operation. The troubled organization used an interesting slogan to spread hatred when the people in charge became millionaires. It was recently revealed that the group bought a palace in Los Angeles in October 2020 for 6 million with a charitable grant. Dyane Pascall, a BLM member closely associated with co-founder Patrisse Cullors, bought the mansion in cash a few days later before transferring the document to the Black Lives Matter Global Network Foundation.

Pascal simply said, "I don't want to explain to you." When questioned about illegal transactions. "This house is not just a house - it's like four structures," Pascal told the Washington examiner. "It's a film studio, sound stage, commercial space, office space. It's a campus. There are 20 parking spaces for people to come and work. It's not a home for everyone. It's a real campus for people to work in. "The 6,500-square-foot mansion has six bedrooms and room for more than 20 cars. Isn't that a red flag?

To make matters worse, some news agencies are reporting that another BLM member bought it for about half the price the day after Dine Pascal bought the mansion for about $ 6 million. This Not the only palace The company owns them under the tax-free status granted to them in December 2020. Interestingly, self-proclaimed socialists would be interested in luxury real estate in the high-end. But like all socialists, the problem becomes when they run out of other people's money.

BLM has become untouchable because people are afraid of being racist labels. In fact, BLM has done more harm than good to their own community. Since the Left is desperate for voters, they have jumped on the bandwagon and turned a blind eye to shameless crimes. The BLM set fire to the shop and smashed the police car, yet no investigation was carried out, and the protest was allowed to continue. The money that was supposed to help those who believed they had been systematically oppressed was used to make the founders multi-millionaires instead. California threatened to sue the company for failing to report its finances, and Amazon removed the company from its AmazonSmile charity program. The judiciary needs to investigate, and donors should be outraged. Politicians like Joe Biden and Justin Trudeau needed the BLM to protect the minority vote rather than to put into practice policies that would create a racial divide and help their cause.

[embed]https://www.youtube.com/watch?v=8qyAHZwlgX8[/embed]

[embed]https://www.youtube.com/watch?v=uVSjY_bGJy0[/embed]

"Pakistan - Conspiracy or Revolution?
Economics

More than 60 vaccine mandates blocked by German parliament

Chancellor Olaf Schulz sought to make vaccination compulsory for those over 60 378-296 votes blocked by Parliament. The bill would require all Germans over the age of 60 to get three vaccines before October 1, 2022.

The Social Democrats (SPD), the Free Democrats (FDP) and the Greens are all pushing the bill forward and will probably continue to fight for a mandate. If Parliament did not vote for the people, it would open the floodgates of the endless immunization order for the entire people. Under the failed bill, unvaccinated Germans would have to attend a doctor's consultation to discuss (forcing) to get vaccinated.

Health Minister Carl Lauterbach recently reversed his position on self-quarantine restrictions. Lauterbach initially said that the 10-day separation rule would end on May 1.I withdrew the proposal because it would create a complete misconception that either the epidemic was over or the virus had become significantly more harmful than it had been in the past."In other words, he doesn't want people to feel safe because it will reduce the need for big government and big pharma."

They want to force people to inject without removing existing restrictions because they know the vaccine is ineffective. Parliament's ruling comes as a silver lining, but the fight for medical freedom is not over.

COVID prevalence on 100% vaccinated cruise ships
Economics

The goal of California Republicans is to make theft illegal

In 2014, California criminalized theft by basically allowing shoppers to take whatever they wanted until it was below 9 950. Prop 47, the Safe Neighborhoods and Schools Act, encourages offenders to act as they please without a response because no criminal charges can be brought against them. California does not commit total robberies, so a criminal may target a store more than once a week with limited response until each robbery is less than $ 950.

Republican lawmakers introduced AB 1599, which would repeal most of Prop 47 and "re-criminalize crime." Republican Assembly member Kevin Kelly, author of AB 1599, said:[Prop 47] Originally legalized theft and open drug use in California, which ended Incredible destruction and occupation robbery"

Robbery and looting by petty criminals has become an organized crime. "You have people who go to department stores and they actually have a calculator," Kelly said. “They will add value to what they are stealing because they know that unless it is below $ 950, they can wave security cameras on the way out. They know it will not have any consequences. "

Rachel Michelin, president and CEO of the California Retailers Association (CRA), noted that San Francisco and Oakland lost alone. 3.6 billion annually Organized retail crime. The National Retail Federation estimates losses from organized crime account for about 0.07% of total sales and believes the CRA is overvaluing. Either way, it's a preventable loss. Governor Gavin Newsom has to approve the measure, but it is consistent in light of the crime scene. There is newsom Ignore the application Fighting shop owners were told to crack down on shoplifting, and to use other existing laws to prosecute thieves. It would be wise for independent store owners to leave California because the laws only protect criminals who have abused Prop 47.

«Lightfoot believes that distance learning leads to increased crime
Economics

Why Zelensky is a neo-Nazi and a Jewish fraud

There are some people who assumed that Zelensky was Jewish and therefore could not possibly be a neo-Nazi. Many in Israel are deeply disturbed by her claim to be Jewish when she marries a non-Jew and Her children are baptized He now wants a ban in the Russian Orthodox Church. Before the war, Zelensky would not comment on being a Jew because he was certainly not a practicing Jew. He will not comment on being a Jew before the election.

Many compare Zelensky to George Soros, a non-practicing Jew who even helped the Nazis detain Jews, send them to death camps, and confiscate their property. He confessed that he did not believe in God. Soros was behind funding Zelensky, who played a TV comedian to become president, and they put money behind him to make that role a reality. Those who think that Zelensky may not be a neo-Nazi fail to see the facts and assume that the Nazis were only exterminating the Jews.

Since the war, Zelensky has been playing the Jewish card to get money from Israel and try to pretend he is not a neo-Nazi, which means "New"The version of Nazism that still believes in ethnic cleansing, but aims at the Russians, not the Jews. When one person is responsible for the total death, Hitler actually comes in third place after Stalin and Mao, but if we include revolutions, Karl Marx for more than 200 million. The goal of the World Economic Forum seems to be to reduce the population so that Bill Gates can sleep at night.

The Jewish community in Mariupol, Ukraine, in the mid-19th century. About 10,000 Jews lived in the city in 1941 and were almost wiped out by the Ukrainian Nazis. Many Ukrainian Jews who did not move to Israel have moved to Donbass where the Russians have never been part of the Holocaust. Zelensky's civil war against Donbass has displaced at least 1.4 million Donbass residents and at least 75,000 have fled to Russia (2019-05-UNHCR-UKRAINE-Operational-Update-Final). Zelensky will say something for money. He addressed the Israeli government and pretended that Ukraine was fighting for his life Comparing it to the Holocaust. Many have found this to be truly disrespectful.

First, Zelensky's statement that he could not be a neo-Nazi proves that he really only heard propaganda about Hitler and the Jews. Hitler was employed in eugenics and that was it No. Restricted to Jews. Although the Nazis had an irresistible description of their annihilation of the Jews, they were not the only target. The German Nazis also committed genocide European Roma (Gypsy). He dragged illegal World War I soldiers out of their beds and exterminated them because they had the burden of supporting the state.

The Ukrainian Nazis were on board with the German Nazis and were engaged in this ethnic cleansing but they targeted Jews, Poles and Russians. I strongly urge you to watch Oliver Stone's documentary Ukraine on fire Which covers the Ukrainian Nazi movement. The United States has never prosecuted Ukrainian Nazis for killing countless Jews, Poles, and Russians because they killed Russians as well. So in the old story their enemy is my friend. Only the Germans were tried in Nuremberg for their actions against the Jews - not the Ukrainians.

The bottom line is that I believe Jelensky is one Cheating And rejected as a Jew but now uses for profit. Zelensky is playing the Jewish card for money and pretending that he is not a neo-Nazi, but today Ukrainian neo-Nazis are not about killing Jews - only Russians and if they are Jews they are no exception. There were 840,000 Jews in Ukraine in 1959, a decrease of about 70% from the total in 1941 (within the current borders of Ukraine). After 1991 and the collapse of the Soviet Union, in 1989, most Jews in Ukraine fled the country. To Israel But Zelensky left Judaism and stayed. Semitic graffiti and violence against Jews was a problem in Ukraine. No wonder he gave up being a Jew, married a non-Jew, and baptized his children. Now that he is a Jew he pretends he is not a neo-Nazi to hate the Russians?


Jesse Edberg In an article in the Times of Israel entitled "Zelensky is not a Jewish hero," he wrote:

It seems that Jewish organizations cannot retreat quickly enough to praise the President of Ukraine, Volodymyr Zelensky, who was Jewish, as the Jewish hero of our time. While there is certainly something admirable about leading a country through a stagnant attack by an economic third world country, I do not see Zelensky as the Jewish hero of this generation or any Jewish hero.

I do not see the heroism of the Jews in serving foreign powers and foreign interests. I do not see the heroism of the Jews in intermarriage. I do not see the heroism of the Jews in baptizing their children. I do not see the heroism of the Jews in openly voting against Israel in the anti-Semitic, targeted UN resolution. I do not see the heroism of the Jews in their alliance with the neo-Nazis. I do not see Jewish heroism in Holocaust triviality, perversion and denial.

Yes, Volodymyr Zelensky does not behave the way a Jewish hero would expect. He married a non-Jewish woman named Olena in 2003 and baptized their children in the Russian Orthodox Church. He openly celebrates such a holiday as "Kivan Russian-Ukrainian Christianization Day", a holiday that marks the establishment of Christianity as the official territory of Kievan Russia in 987, and by all accounts, religiously marks a Christian, not a Jew. .

Since taking office in 2019, Zelensky has maintained a strong anti-Israel stance, especially on the UN floor. In 2020 alone, Ukraine voted in favor of a UNRWA-confirmed UN resolution, condemning Israel's "occupation" of Judea and Samaria, the Israeli "occupation" of Jerusalem and the Israeli "occupation" of the "occupied Syrian Golan". Jelensky's Ukraine was kind enough to refrain from proposing to launch a formal UN investigation into the proposed Israeli "human rights violation", proposing Israel as a racist, even a genocidal force.

The manner in which Zelensky entered the office was equally unworthy of his proposed status as Jewish hero. In Ukraine, a country that has historically been anti-Semitic, and today, all help was needed for Zelensky to be elected. He received this support primarily from Ukrainian neo-Nazis and their allies, such as political kingmaker Arstin Avakov, who was willing to compromise to present a united front against Russia. To this day, Zelensky continues to pay tribute to his alliance, donating Nazi Iron Crosses in interviews and speeches, and praising Ukrainian Nazi and Holocaust collaborator Stepan Bandera.

The Pentagon cannot confirm Bucha atrocities