NYT Insanity: Covid Welfare Payments Reduced Poverty

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SEPTEMBER 16, 2021

NY Times: U.S. Poverty Fell Last Year as Government Aid Made Up for Lost Jobs

When government benefits are taken into account, a smaller share of the population was living in poverty in 2020 even as the pandemic eliminated millions of jobs.

BY Jeanna Smialek & Ben Casselman

Wonderful news today from the Marxist madmen atop Manhattan’s Mount Olympus! As a side-effect of the Stupid-19-related debt-money-printing and distribution, the poverty rate dropped in 2020. You know, we may have to rethink our previously held belief that debt, deficits and the printing press are the tools of economic destruction. It turns out, all that was needed to mitigate poverty was to tell people to stay home and collect “relief.” Who knew?

From the article:

“The share of people living in poverty in the United States fell to a record low last year as an enormous government relief effort helped offset the worst economic contraction since the Great Depression.  In the latest and most conclusive evidence that poverty fell because of the aid, the Census Bureau reported on Tuesday that 9.1 percent of Americans were living below the poverty line last year, down from 11.8 percent in 2019.”

Now that we have “conclusive evidence” that not just any old communism, but workless communism, can be so productive; just imagine what abundance and prosperity society can achieve by increasing the “government relief” — both in amount and in term. Heck, at this rate, we’ll all be rich by 2023!

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Jeanna Smialek
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Ben Casselman

Millennial morons Jeanna Smialek and Ben Casselman have discovered the secret to national wealth.

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Karl Marx

Not even Crackpot Karl Marx would have advocated for “the workers” to be paid for sitting at home for 18 months!

The illusion of “poverty reduction” is akin to a temporary drug high. To use a financial analogy, it would be like a struggling individual getting approved for an additional $5,000 credit line. That might help him to catch up on some overdue bills and to refill his refrigerator; but in due time, he’ll  be “in the hole” again — and deeper.

This glorious “poverty reduction” bump is already fizzling out because — as surely as thunder follows lightning — the “boom-time” currency debasement is rapidly eroding the purchasing power of the added “government relief.” Been food shopping lately?

Not only are the shiftless now being forced to return to work (for less money than what they are collecting now) — but with the rising prices of even the most basic of necessities now visible to all, the poverty of the “working poor” will become all the more acute and stressful. Come on now, Ben & Jeanna — this is simple stuff you should have learned, or at least figured out on your own, no later than age 15!

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Modern “Anti-Poverty” Economics in 3 easy steps.

If history — and our own familiarity with Marxists and Libtards serve as accurate indicators — you can bet your bottom shekel that the inevitable increase in poverty that is coming will only lead to calls for even more “government relief” and still higher taxes “on the rich.” This calls to mind an awesomely pithy little parable I picked up during my days as a “Bircher.”

About the time he had founded the 95%-truther John Birch Society in 1958, the brilliant Robert Welch penned an exceedingly simple economic parable / allegory which — had students like Jeannie & Bennie been taught in college — would have prevented so much of the economic damage that has since accumulated over the decades that followed.  From “The Blue Book” of the John Birch Society: 

“A government trying to step in and improve the workings of a free market is exactly like a man who takes a lighted lantern outdoors on a bright June day to show you the sun. But a government’s answer to any criticism as to the inadequacy of the lantern is always to bring more lanterns and then more lanterns — until eventually the smoke and glare of the lanterns so severely interfere with and shut off the light of the sun that everybody has to work mainly by lantern light.” 

Tell it, Mr. Welch. Tell it!

Sadly,  we may also expect that a significant percentage of the masked-up, vaccine-queuing normies will want more lanterns.

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Robert Welch was a brilliant man and anti-Globalist patriot — but his JBS would not tolerate any about the “usual suspects” or any defense of Hitler. 
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Frederic Bastiat’s pithy quotes on government and economics also make for a good crash course.
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All this lantern smoke is making it hard to see. I need another lantern so I can see better.

NY Times Insanity: Surging Inflation is a “Good Sign”

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SEPTEMBER 9, 2021

NY Times: Inflation’s Worldwide Surge May Be a Good Sign

The current trend in rising prices ties back to disruptions caused by lockdowns and subsequent reopenings.

By Jeanna Smialek

The Times’ growing youth movement is bringing in a cadre of “educated” morons from “Generation Z” to spout the same old nonsense as the old timers and their predecessors have for more than a century now. The only difference between these know-it-all know-nothings and the senior propagandists at the Manhattan Mendacity Machine is that unlike sneaky scum such as “Nobel Prize Winning”   economist Paul Krugman, little girls like this piece’s author, Jeanna Smialek, 29, seem to actually believe this horse-crap about “surging inflation” possibly being “a good sign.”

And why wouldn’t she? After all, it’s (((academics))) cut from the same commie cloth as Krugman who infest and dominate the Economics departments of our “prestigious” universities. This dorky little Keynesian C-word wouldn’t know the difference between free-market Austrian economist Freidrich Hayek and Hollywood harlot Selma Hayek. She’s that ill-informed. Let’s school her instead.

(*I just dropped $8 for a small hamburger with fried onions (no cheese even) and a coke at the local “Five Guys!” No more fast food for me.) 

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Pretty Jeanna — all grown up and ready to school us boomers with her Keynesianish Economics degree
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John Maynard Keynes = Spend, Tax, Borrow, Print, Inflate / Friedrich Hayek = Save, Cut taxes, Gold Standard and stable value currency.
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Busting your budget at the grocery store. Relax man— It’s actually a “good sign,” dontch’a know?!!!

Jeanna: Price gains are shooting higher across many advanced economies as consumer demand, shortages and other pandemic-related factors combine to fuel a burst of inflation.
Rebuttal: Wrong, wrong, wrong, wrong, wrong! Prices are rising because the “pandemic related” money supply has exploded at the fastest pace since the WW 2 year of 1943. Do some homework!

All those stimulus checks, payoffs for hospital and nursing home murders, “free” Covid testing, “free” vaccines, extended unemployment, money to the states  — not to mention the already skyrocketing costs of Social Security & Medicare in America — are being “paid for” with “printed money.” More dollars chasing the same, or fewer, amount of goods is the very definition of inflation. The dying dollar has got nothing to do with supply & demand issues.

Jeanna: The spike has become a source of annoyance among consumers …..
Rebuttal: No, Jeanna. For 6-figure earners like you, it may be an “annoyance.” But for most middle class workers and retirees, the considerable theft of food and gas money that’s been taking place is frightening — not “annoying.”

Jeanna: It is one of the main factors central bankers are looking at as they decide when — and how quickly — to return monetary policy to normal.
Rebuttal: What Jeanna surely does not realize is that a “return to normal” monetary policy (contraction)— though putting the brakes on inflation — would burst the stock market and real estate bubbles, while increasing unemployment. Such is the built-in folly of the artificial boom/bust cycle which Keynestards believe to be natural occurrences — that must be intelligently managed by the very same “policy makers” of the Central Bank system which creates both the crashes and the “recoveries.” Nuts!

Jeanna: Most policymakers believe that today’s rapid inflation will fade.
Rebuttal: You stupid little shit. You’re gonna give me a heart attack, you know that girl?! Though the rate of inflation may eventually “fade,” — the newer price levels and the devalued dollar always remain. Bet your bottom shekel on this, Jeanna — my hamburger and drink at “Five Guys” ain’t NEVER going back to $6 of recent months, or the $5 of just a year or two ago.

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M2 — the most liquid measure of money supply — has exploded during the scamdemic
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Boom or Bust — The (((Money Power))) profits either way
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Tell it, Herr Hayak. Tell it!

Jeanna: The shared inflation experience underscores that mismatches between what consumers want to buy and what companies are able to deliver are helping to drive the price increases.
Translation: You see, it’s the free market causing inflation due to “mismatches” between buyers and sellers. Forget the “Invisible Hand” (which libtards love to mock) that regulates markets and sets prices organically. No, only the Keynesian “policy makers”  can fix this.

Jeanna: While those may be amplified by worldwide stimulus spending…
Rebuttal: After making an obligatory nod toward “stimulus spending,” here comes the “yeah but.”

Jeanna: they are not the simple result of nation-specific policy choices — and they should eventually work themselves out.
Rebuttal: Oh, they ARE indeed the result of government policy choices — and the damaging effects will not “work themselves out” as long as “policy makers” keeping mucking things up.

Jeanna: “There is a lot of stimulus in the system, and it is pushing up demand and that’s driving higher inflation,” said Kristin Forbes, a Massachusetts Institute of Technology economist.
Rebuttal: We needed an MIT economist to tell us that more printing leads to more inflation?

But don’t be fooled by Jeanna’s brief detour into rationality. Her central argument remains that pent-up demand, Covid shortages, and “mismatches” are the key drivers of what will likely be a “temporary” inflation. And the worst part is, we actually believe that she really does believe this nonsense.

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Printing money and injecting it into the system at interest. What could possibly go wrong? 
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Once inflation really picks up steam, it can wipe out the savings of millions of people in a very short time. Above: 1920’s German postage stamps
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In the public mind, the inflation is already being blamed on “Joe Biden” — part of “The Plan?”

The Federal Reserve and Climate Change?

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AUGUST 31, 2021

NY Times: How Should the Fed Deal With Climate Change?

A study suggested the Federal Reserve could help fight climate change by excelling at its primary job: maintaining a strong economy.

There is so much “fail” — based on so many flawed assumptions –to unpack in this propaganda piece pooped out by Slimes “Senior Economics Correspondent,” Neil Irwin. The ignorance and contorted anti-logic on display here are astonishing, really — all the more so when we consider the “prestige” attached to whatever appears in the pages of “the paper of record.”

Hazmat suits and hip waders on, boys and girls. Let’s clean up some of this juvenile journalist’s fallacious fecal matter.

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Irwin’s illogical idiocies will scramble the brains of unsuspecting readers. He badly needs a course in Greco-Roman logic.

Irwin: The climate crisis is at high risk of becoming an economic crisis. 
Analysis: Notice how the lie of the “Climate Con” is always casually stated as an established foundational truth upon which other theories (and endless “studies”) can to be built upon. In sales, this is known as “assumptive selling” — or, in logic, Existential Fallacy.

Irwin: That is an increasingly widespread view ….
Analysis: “Widespread view” — Arguing to Popular Fallacy.

Irwin: … among leading economic thinkers …
Analysis: “leading thinkers” — Arguing to Authority Fallacy.

Irwin: — that a range of economic and financial problems could result from a warming planet and humanity’s efforts to deal with it.
Analysis: Half wrong // half right. It is ONLY the proposed “solutions” to the non-existent “crisis” that will cause economic problems.

Irwin: What should the United States’ economist-in-chief do about it? 
Analysis: Putting aside the fact that man-made “Climate Change”  is a HOAX — How would the Federal Reserve System possibly fight such a phenomenon?

Irwin: That question has taken new urgency as President Biden weighs whether to reappoint Jerome Powell to another term leading the Federal Reserve or choose someone else. 
Analysis: We’re not sure if the Trump-appointed Anglo, Jerome Powell is a closet “White Hat” or not, but we have noticed that “the usual suspects” aren’t too crazy about him — like they were for his nearly half-century long string of predecessors — Janet YellenBen BernankeAlan GreenslimePaul Volcker(here) and Arthur Burns

Irwin: Climate activists and others on the left have argued that Mr. Powell should be replaced by someone with stronger credentials as a climate hawk. Demonstrators backing this cause were planning to protest at an annual Fed symposium.
Analysis: Communist scum protesting Powell and demanding he not get another term? Yep… He’s gotta be a “White Hat” — or at least not a total villain.

Irwin: Among other things, they want the Fed to use its regulatory powers to throttle the flow of bank lending to carbon-producing industries. 
Analysis: Wow! The “climate activists” (who work for the Cabal) want to fight “Climate Change”  — by using the banking system to deny financing to “polluters.” Now that is some scary Communist shit right there.

Irwin: At the same time, some Republicans are assailing the Fed for mere research efforts involving climate.
Analysis: So, in addition to counterfeiting, loan sharking and market rigging — the Fed’s new role is “researching climate?”

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Powell’s true loyalties remain a mystery — but his appointment by Trump broke a long string of Jewish Chairmen running the Fed, and his refusal to to go along with green lending standards is also a hopeful sign.
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Communist street scum with professional banners call for the removal of Powell for his lack of “leadership” on “Climate Change.”
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Paul “Father of the Fed” Warburg
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Irwin: It is clear there would be a huge outcry on the right if a new Fed chair were to take an activist stance in trying to limit the availability of capital in energy-extraction businesses.
Analysis: The old Republican’t Party of the Bush Clan, Paul Ryan, John McStain, Mitt Romney et al, would have let it pass. But Irwin’s right. The new Trump Party would never permit such a policy.

Irwin: So far, Mr. Powell and other leaders at the central bank have taken a middle ground. They’ve committed to studying the ways global warming will affect the economy, but not trying to manage how loans are allocated
Analysis: It appears that Powell is telling the Warmist Mafia what it wants to hear, but will not give them what they actually want. Good enough.

Irwin: Arguably, one of the more important things the Fed can do to help fight climate change is to excel at its primary job: maintaining a stable, strong economy.
Analysis: What??? I’m confused. How would a “stable and strong economy” prevent “Climate Change ? Wouldn’t more economic activity generate more of the dreaded plant food known as CO2?

Irwin: Consider some surprising public opinion data.  Since 1989, Gallup has polled Americans about whether climate change worried them personally.
Analysis: To digress a bit — the push-pull art of “public opinion polling” involves the deliberate surround-sound saturation of the normie mind with false propaganda about this or that subject — followed by periodic measurements (polls) of the effectiveness of all that repeated lying.

Irwin: The peak was in April 2000, when the share of people worried about the climate was … (very high). That was also one of the best months for the U.S. economy, with unemployment a mere 3.8 percent. …. Climate worry in the survey hit a low in 2010 and 2011, in the aftermath of the global financial crisis … Using a broader range of evidence from both the United States and Europe, two political scientists at the University of Connecticut, Lyle Scruggs and Salil Benegal, found that a decline in climate concern in that period was driven by worse economic conditions, which increased worry about more immediate issues.
Analysis: So, the distinguished (and surely well-funded) “political scientists” needed a “study” to figure out that when times are hard, suddenly fearful or unemployed people have more pressing concerns to worry about than bullshit “Climate Change ?”  — Brilliant! Who’d have ever thunk it?!

Irwin: It raises a dispiriting possibility: As the planet gets hotter, it could make it harder to keep the economy on an even keel. But the worse the economy performs, the more toxic and dysfunctional climate politics may become.
Analysis: In short, the demented freak is worried that the economic damage caused by “Climate Change”will make it harder to further damage the economy with the needed “solutions” to “Climate Change .” But if the historically, notoriously and deliberately destructive Federal Reserve can “do its job” and give us a strong economy (ha ha ha ha ha) — then we can ruin the good times by selling the public on the painful and expensive policies desired by “climate activists.”

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We’ve said it before and shall say it again and again and again — one couldn’t write better satire than what the “elite” journalists and academics of “The West” regularly put out as news and  “science.”

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Will the Fed go green? Not under Powell’s watch, it seems.
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Skruggs
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Benegal

Academic ass-clowns: the Connecticut comedy duo of Skruggs & Benegal made the shocking discovery that jobs matter more to people than “Climate Change.” 

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“So you guys are telling me that the only way to destroy the economy is to save it first?”