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Posted by M. C. on July 23, 2020
Information posted at Facebook by Prof Nigel Anthony Gray What Is the Nuremberg Code? When World War II ended in 1945, the victorious Allied powers enacted the International Military Tribunal on November 19th, 1945. As part of the Tribunal, a series of trials were held against major war criminals and Nazi sympathizers holding leadership positions […]
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Posted by M. C. on July 23, 2020
https://www.iceagenow.info/magnetic-north-pole-moving-as-much-as-37-miles-per-year/
Could this be a precursor to a full-fledged magnetic excursion?
__________
Earth’s magnetic north pole has shifted away from Canada and closer to Siberia at a surprisingly rapid pace in recent years, writes Jennifer Leman in Popular Mechanics (May 15, 2020).
James Clark Ross first identified the magnetic pole on the Boothia Peninsula in Canada’s Nunavut territory in 1831, and scientists have been carefully measuring its location ever since.
While the poles have drifted and even swapped places numerous times over the long course of Earth’s history, what’s different is how quickly this shift is happening. From 1999 to 2005, Earth’s magnetic north pole went from shifting 9 miles – at most -each year to as much as 37 miles in a year.
Photo credit – Livermore et al – Nature Geoscience 2020
The movement has been so rapid that the British Geological Survey and U.S. National Geophysical Data Center, which update the World’s Magnetic Model, had to accelerate their process in order to keep up.
These shifts have major consequences for global navigation systems – compasses, ships at sea, smart phones – all are impacted by this magnetic game of tug-o-war.
Could this accelerating movement be a precursor to a full-fledged magnetic excursion? I have no idea. However, magnetic reversal or not, researchers from U.K. and Denmark say they’ve uncovered the reason for the mysterious movement: Two writhing massive blobs on molten iron in Earth’s outer core.
The researchers paper appeared in the May 15 issue of Nature Geoscience.
Be seeing you
Posted in Uncategorized | Tagged: British Geological Survey, magnetic excursion, Magnetic Model, North Pole, U.S. National Geophysical Data Center | Comments Off on Magnetic North Pole Moving as much as 37 miles per year – Ice Age Now
Posted by M. C. on July 23, 2020
General Thomas Ewing cleared 3,000 square miles of Missouri from habitation and forced 20,000 civilians from their homes, leaving them homeless, bare-footed and bare-headed with all of their possessions stolen by Union “soldiers.” Ewing bragged of his feat to a Washington reporter, telling him that his action was approved by President Lincoln.
Lincoln’s friend, General Grenville Dodge, announced his policy of starving the entire population of the state of Tennessee. “These people are proud, arrogant rebels,” and will be made to understant that “all they they possess belongs to the US Government.”
https://www.paulcraigroberts.org/2020/07/21/how-lincoln-destroyed-the-united-states/
Paul Craig Roberts
The title of Thomas J. DiLorenzo new book, The Problem with Lincoln, is an understatement. Lincoln was far more than a problem. He was the worst disaster ever to befall the United States.
Lincoln destroyed the federal republic established by the founding fathers, and he destroyed the Constitution that protected it. He violated every provision of, and every Amendment to, the Constitution. He then rewrote, in effect, the Constitution and left the 10th Amendment out.
The Lincoln regime was a dictatorship. Lincoln disregarded US law, the US Constitution, every right of the people, the power and authority of judges, and even exiled a US Representative. DiLorenzo writes that “freedom of speech was virtually nonexistent in the Northern states for the duration of the Lincoln administration.” Lincoln ordered the arrest and imprisonment of everyone who disapproved of his invasion of the South or made the slightest criticism of him. There were mass arrests of citizens and news paper editors of northern states. A minimum of 38,000 citizens of northern states were imprisoned without due process.
Lincoln committed treason against the Constitution when he suspended Habeas Corpus. No such power resides in the presidency. Only Congress can suspend Habeas Corpus even in the case of rebellion and invasion.
US Supreme Court Chief Justice Roger B. Taney ruled Lincoln’s suspension of habeas corpus was unconstitutional. New York Tribune editor Horace Greeley wrote that it may be necessary to teach Taney a lesson. Lincoln had an arrest warrent written for Taney’s arrest, but did not serve it, apparently instead relying on Taney’s awareness of the warrant to bring him into line.
Other judges both state and federal who attempted to uphold laws were beat bloody and dragged off to prision or placed under house arrest and prevented from performing their judicial duties. Judge Richard Bennett Carmichael in Maryland attempted to enforce due process. Lincoln’s Secretary of State William Seward sent armed federal soldiers. They pistol-whipped the judge in his chambers, “beat him bloody and unconscious, and dragged him off to Fort McHenry.” US circuit court judge William Merrick issued a writ of habeas corpus for an underaged youth and was put “under house arrest by force of arms without due process.” Under Lincoln, there was not only no separation of powers, there was no other power.
Lincoln used army troops to break up meetings of the Democratic Party. US Senator Thomas A. Hendricks, for example, was prevented from speaking by Union troops with fixed bayonets who threatened “to make a summary disposal of him.”
In other words, life under Lincoln in the North was like life in the Soviet Union during the darkest days of Stalin’s rule. Life under Lincoln in the South was like Stalin’s destruction of the kulaks.
The white liberal “Lincoln scholars” admit much of this. And they justify it. For example, Cornell University professor Clinton Rossiter wrote a book, curiously titled Constitutional Dictatorship, a contradiction in terms. Rossiter declares Lincoln to be “a great dictator” whose “amazing disregard for the Constitution was considered by nobody as legal.” Rossiter celebrates this fact. Being a “great dictator” is what made Lincoln a “true democrat.” Another “Lincoln scholar,” Dean Sprague, wrote a book detailing hundreds of acts of tyranny by Lincoln, “and then somehow managed to conclude that Lincoln ‘had no taste for tyranny’ and was a ‘great humanitarian.’”
“This,” DiLorenzo writes, “is what makes someone a Lincoln ‘scholar’—dictatorship is democracy, tyranny is freedom, destroying the Constitution is constitutional, imprisoning political dissenters is benevolent, dictatorship in the right hands is good and noble—and on it goes.”
The most important chapter in DiLorenzo’s book is the fourth one. In this chapter the war crimes of Lincoln and his generals and army are the subject. Lincoln has the disgrace of being the first ruler in modern times to unleash indiscriminate war on civilian populations. From Lincoln came all of Washington’s subsequent violations of the rules of war and the Geneva protocols and conventions—the firebombing of Japanese and German civilian cities, the nuking of two Japanese civilian cities, the atrocities in Vietnam, Laos, and Cambodia, the murder of 500,000 Iraqi children justified by US Secretary of State Madeleine Albright in true Lincoln fashion as “worth it,” the massive deaths from Washington’s and Washington-sponsored illegal invasions of Afghanistan, Iraq, Libya, Syria, and Washington’s bombings of Pakistan, Somalia, Yemen, the persecution and torture of journalist Julian Assange, the torture horrors of Abu Ghraib and Guantanamo. If the South had won the war, Lincoln, the entirety of the Union high command and the bulk of the Union army could have been legally and justly hung as war criminals. Indeed, the war crimes of Lincoln, Grant, Sherman, Sheridan, and the Union army “paved the way for all the genocidal horrors of the monstrous 20th century.”
Lincoln’s war plan was designed to destroy the South, not just its army. Arson, looting, rape and murder of civilians, destruction of their homes, barns, livestock, and towns by the Union thugs in uniform were the means. In Missouri vast areas of the state became uninhabited. Union General James H. Lane said: “We believe in a war of extermination. I want to see every foot of ground in Jackson, Cass and Bates Counties burned over—everything laid waste.” Read the rest of this entry »
Posted in Uncategorized | Tagged: Constitution, Horace Greeley, Lincoln, Lincoln scholar, Roger B. Taney | Leave a Comment »
Posted by M. C. on July 23, 2020
I suspect the Dems will win in November because they actually have a core of philosophical beliefs—and that counts during chaos. It doesn’t matter that they’re irrational or evil. Then, whenever a really radical group takes over—and these people are serious radicals—they cement themselves in power. And it only takes a small number of people working as a cadre to do it.
by Doug Casey
International Man: The hysteria surrounding COVID-19 and the government lockdown has completely changed in-person interactions.
How do you think this will impact the way that Americans cast their vote in the presidential election?
Doug Casey: It’s a very bad thing from Trump’s point of view. For one thing, it’s severely limiting the number and size of his rallies, which he relies on to keep enthusiasm up.
More people are staying at home and watching television than ever before. And unless they glue their dial to Fox, they’ll gravitate towards the mainstream media, which is stridently anti-Trump. People who are on the fence hear authoritative-sounding talking heads on television, and it naturally influences them away from Trump.
Furthermore, this virus hysteria is discouraging people from going out—especially older people who are roughly 80% of the casualties of this virus. They’re less likely to go to vote. But older people are most likely to be Trumpers because they’re culturally conservative. I’m assuming that the COVID hysteria will still be with us in November.
Keeping his voters at home is one thing. But the effects that the hysteria is having on the economy are even more important. Presidents always take credit when the economy is good and are berated when it’s bad on their watch, regardless of whether they had anything to do with it. If the economy is still bad in November—and I’ll wager it’s going to be much worse—people will reflexively vote against Trump.
With free money being passed out—the $600 per week in supplementary unemployment—between the state and federal payments, something like 30 million people are making more now than they were before the virus. In February, before the lockdown, there were about 3.2 million people collecting unemployment. Now, there are about 35 million. So, it seems we have over 30 million working-age people who are . . . displaced. That doesn’t count part-time workers, who aren’t eligible for unemployment but are no longer working.
When the supplementary benefits end, so will the artificial good times.
Worse, the public has come to the conclusion that a guaranteed annual income works. This virus hysteria has provided a kind of test for both universal basic income and modern monetary theory—helicopter money. So far, anyway, it seems you really can get something for nothing.
Even Trump supports helicopter money because he knows it’s all over if today’s financial house of cards collapses.
Most people will still be out of work when the free money ends. The recognition that the country is in a depression will sink in. They’ll look for somebody to blame. When things get seriously bad, people want to change the system itself.
There’s now a lot of antagonism toward both free minds and free markets. Polls indicate that a majority of Americans actually support BLM, an openly Marxist movement. Forget about free minds—someone might be offended, and you’ll be pilloried by the mob. Forget about free markets—they’re blamed for all the economic problems, even though it’s the lack of them that caused the problem. The idea of capitalism is now considered undefendable.
Widespread dissatisfaction with the system is obviously bad for the Republicans and good for the Democrats, who promote themselves as the party of change.
The bottom line is that this whole episode with COVID is uniformly bad for whatever Trump or the Republicans represent. It’s bad for the old status quo.
International Man: If people are afraid to go out, will it impact voter turnout?
Doug Casey: Absolutely. As I just said, especially among older people who tend to be conservative Republican voters.
But let’s be candid. This election is going to hinge on who cheats the best. And the Democrats have, over the years, developed far greater expertise in cheating than the Republicans. Saul Alinsky’s “Rules for Radicals” wasn’t written for the kind of people who vote Republican.
For one thing, there’s going to be more emphasis on mail-in votes, which make it easier to cheat. You can register dead people as voters. You can register your dog as a voter. If the fraud is ever even discovered, it won’t be until long after the election.
That’s only part of it, though. A high percentage of voting machines are computerized. Fraud by hacking voting machines is apparently easy to do—and it’s pretty untraceable. It’s just a matter of planning and boldness.
One of the consequences of this widely acknowledged dysfunction is to delegitimize the whole idea of voting. As you know, I don’t believe in mass democracy, because it inevitably degrades into a system where the poorer citizens vote themselves benefits at the expense of the middle class. Basically, mob rule dressed in a coat and tie. But if the populace loses faith in “democracy” during a serious economic crisis—like this one—they’re going to look for a strong man to straighten things out. The US will look more and more like Argentina.
Posted in Uncategorized | Tagged: civil war, election, Illegal Aliens, Trumpers, undocumented people | Leave a Comment »
Posted by M. C. on July 23, 2020
Maybe that is a good thing if we can start over from scratch.
https://www.lewrockwell.com/2020/07/lew-rockwell/are-universities-finished/
Higher education in America today is in a crisis. The diversity thought police pounce on anyone who offers the slightest resistance to them. Here are a few examples “Students at pricey Marymount Manhattan College are demanding a veteran professor be fired for allegedly falling asleep during an anti-racism Zoom meeting. Students at the Upper East Side school claim Patricia Simon, a theater arts associate professor, took a snooze during the virtual town hall last month, and have collected 1,800 petition signatures. Petition organizer Caitlin Gagnon said ‘action has only capitalized on a pattern of negligence and disrespect that Patricia Simon has exhibited over and over again.’ Gagnon included a photo of the 30-year prof, and also accused her of enabling ‘sizeist’ staffers.” A ‘sizeist,’ by the way, is someone who discriminates against people because of their physical size, e.g., requiring an obese person to pay for two seats. Of course, it doesn’t matter if the heavy person occupies two seats. If you charge more, you are still a sizeist.
If you dare to challenge the Black Lives Matter terrorists, you are dead in the water. “A longtime UCLA professor has been placed on leave after facing backlash over his response to a student’s request to postpone the final exam for African American students, considering the impact of George Floyd’s death. Gordon Klein received the email on June 2, and rejected the request. UCLA’s Anderson School of Management, where Klein has taught since 1981, said Klein’s classes have been assigned to other faculty, saying the following in a statement on Wednesday: ‘The lecturer is on leave from campus and his classes have been reassigned to other faculty.’”
Even if you like Martin Luther King, you can still get fired, if you say the wrong words. Look what happened to Ajax Peris: “In a virtual class lecture, Peris read a portion of King’s ‘Letter from a Birmingham Jail,’ which contains a couple of uses of the ‘N-word.’ On June 2, one UCLA student tweeted a video of Peris reading a passage from King’s letter, declining to omit the epithet, and expressed outrage at his uncensored reading and called for his termination. In short order, UCLA’s College of Letters and Science referred the matter to the Office of Equity, Diversity and Inclusion for review, and Peris’ department chair sent a letter to departmental faculty condemning his reading of the passage and noting that he had referred Peris to UCLA’s Discrimination Prevention Office. The chair also faulted Peris for showing portions of a documentary that included graphic images and descriptions of lynching, as well as narration that, the chair wrote, ‘quoted the n-word in explaining the history of lynching.’”
At Princeton, the situation is even worse. Matt Taibbi notes that “on July 4th, hundreds of faculty members and staff at Princeton University signed a group letter calling for radical changes. . . Much of . . . the letter read like someone drunk-tweeting their way through a Critical Theory seminar. Signatories asked the University to establish differing compensation levels according to race, demanding ‘course relief,’ ‘summer salary,’ ‘one additional semester of sabbatical,’ and ‘additional human resources’ for ‘faculty of color,’ a term left undefined. That this would be grossly illegal didn’t seem to bother the 300-plus signatories of one of America’s most prestigious learning institutions.”
When Joshua Katz, a classics professor at Princeton, protested against the letter’s demands, “University President Christopher Eisengruber ‘personally’denounced Katz for using the word “terrorist.” Katz was also denounced by his Classics department, which in a statement on the department web page insisted his act had ‘heedlessly put our Black colleagues, students, and alums at serious risk’ while hastening to add ‘we gratefully acknowledge all the forms of anti-racist work that members of our community have done.’”
One last example: BLM thugs are trying to oust the outstanding Austrian economist Walter Block from Loyola University in New Orleans, based on a demonstrably false claim that he supports slavery: “Walter Block is a professor in the Business school at Loyola University New Orleans. He has publicly stated that he believes slavery to be wrong because it goes against Libertarianism, not because it is morally wrong. He has justified women being paid less than men (see his book Building Blocks of Liberty) He is allegedly an ableist, too. While it is important to have professors with different views and opinions and beliefs, racist and sexist beliefs should not be a part of this. It is harmful to any non-men and any Black people to be taught that slavery isn’t morally wrong, to be taught that women don’t deserve to be paid and treated equally.
Fight racism, end racism, fire the racists. Fire Walter Block.”
As if this weren’t bad enough, universities are taking advantage of the phony Covid-19 pandemic to offer worse service for about the same astronomical tutition: “After the sudden closure of college campuses across the country in March due to the COVID-19 pandemic, the fate of the fall semester was suddenly placed into question. All eight schools in the Ivy League have announced fall 2020 decisions as of early July. Penn, Brown, Cornell, Princeton, and Yale will all have hybrid modes of fall instruction, while Harvard will be completely online for the entire academic year. Each school has different decisions regarding which class years will come back to campus and where they will be housed during each school’s modified fall calendar.”
Professors have used the situation as an excuse to destroy already weakened academic standards. “As COVID-19 has forced classes online, colleges have eased up on graded assignments – even at the prestigious Ivy League schools. With professors and students advocating for automatic A’s or to be given passing grades at the minimum, many college administrations have surrendered highly generous grading policies to give students a break as coronavirus has taken its toll on the country”.
The crisis in higher education would not go away, even if we could get rid of Covid-19 and the PC thought police. Higher education has been in trouble for a long time. As the great economist Walter Williams has pointed out, “According to the Bureau of Labor Statistics, in 2016, only 37% of white high school graduates tested as college-ready, but colleges admitted 70% of them. Roughly 17% of black high school graduates tested as college-ready, but colleges admitted 58% of them. A 2018 Hechinger Report found, ‘More than four in 10 college students end up in developmental math and English classes at an annual cost of approximately $7 billion, and many of them have a worse chance of eventually graduating than if they went straight into college-level classes.’
According to the National Conference of State Legislatures, ‘when considering all first-time undergraduates, studies have found anywhere from 28 percent to 40 percent of students enroll in at least one remedial course. When looking at only community college students, several studies have found remediation rates surpassing 50 percent.’ Only 25% of students who took the ACT in 2012 met the test’s readiness benchmarks in all four subjects (English, reading, math and science). Read the rest of this entry »
Posted in Uncategorized | Tagged: Ajax Peris, Black lives matter, Higher Education, Martin Luther King, sizeist, thought police | Leave a Comment »
Posted by M. C. on July 22, 2020
Basically, we don’t control the outcome of elections. The central banks do. If for one second, the Federal Reserve sees Biden as being more “on board” with their epic distribution of debt and credit, he WILL be the next president. Trump could still be reelected because he’s been incredibly effective at helping the central bank take over the planet.
“That’s the game. They don’t want you to be able to think, they don’t want you to be able to speak, or anything. It’s they’re in control and that’s it.” BUT as I have repeatedly pointed out, and Mannarino says too, once you know this, you’re in control!
Mac Slavo
Greg Mannarino, who is asking people to put politics aside and look at the reality of the situation, is once again, trying to teach the public a powerful lesson. We do not elect presidents. They are selected and the Federal Reserve will make the decision.
Mannarino says that once you understand this, you stand to beat the system and will be able to generate a lot of wealth. However, this will take putting your politics aside and understanding what’s really happening as opposed to what you WANT to happen. The only reason there are two political parties is to give people the illusion of choice. This should go without saying, but so many are still stuck in a paradigm that will wholly enslave and impoverish them unless they wake up to it, and soon! It’s “critical” to use Mannarino’s word.
Basically, we don’t control the outcome of elections. The central banks do. If for one second, the Federal Reserve sees Biden as being more “on board” with their epic distribution of debt and credit, he WILL be the next president. Trump could still be reelected because he’s been incredibly effective at helping the central bank take over the planet.
It All Comes Back To The Federal Reserve: The NWO Is Being Shoved Down Our Throats
“The easy money hasn’t even begun to pour into this market,” says Mannarino as he explains that the Wall Street banks continue to buy the market on their quest to won the world. “99% of the people have NO IDEA what the Fed is doing!” They are literally buying debt with cash they create out of thin air. What happens when those debts do not get repaid? The central bank then owns your asset. This isn’t rocket science, people. But it is time to wake up to what’s happening. How much longer can people stick their heads in the sand and ignore the reality of the situation in favor of a political central bank puppet?
Mannarino says this is NOT political, he’s a “market guy.” But it’s time to face reality. “Keep politics out of it. I’m not talking about this as a political thing. I’m talking about strictly from a market standpoint!” Mannarino adds: “I’m telling you how the markets work!” And unfortunately, people need to realize that the central bank chooses the president and the vast majority of the congress and senate to make sure their quest for world domination is not defeated.
Trump has already demanded more easy money in the form of suppressed rates, but if the Federal Reserve thinks they will achieve their agenda to own the planet with Biden, he’ll be elected. We DO NOT have a say in this, and voting is a waste of time. The central banks WILL put whoever they want in office. “I just want you to understand how these markets work. Keep politics out!” Mannarino says.
“That’s the game. They don’t want you to be able to think, they don’t want you to be able to speak, or anything. It’s they’re in control and that’s it.” BUT as I have repeatedly pointed out, and Mannarino says too, once you know this, you’re in control! Empower yourself instead of playing into the false left vs. right paradigm. “You’re in control. Let me explain that to you. If you realize, that by understanding and having a clear picture of what the bigger picture is here, and you know what is: full control of the global markets by the Federal Reserve, who is running the entire charade right now. It’s simple. It’s the Wall Street banks and the Fed that are running the world. And they will do whatever they want. They will get whoever they want in office. That’s it.”
And it really is that simple, folks. Wake up. Life is a lot easier once you look beyond political and past the smoke in mirrors circus of political theatre.
The Federal Reserve’s Controlled Demolition Of The Economy Is Almost Complete
“If you have the intelligence to be able to see through the facade of this, I will keep you on the right side of this “thing” that’s enveloping the entire world. BUT, if you gotta ‘rah, rah, rah’ and gotta stick to whatever [political] party you believe in [bowing, subservient motions] you’ve got your faith in the wrong place,” Mannarino says toward the end.
Understand where we are. Your beliefs, left or right, literally don’t matter. Stop serving the ruling class and start serving yourself and your family and others and see how quickly your life will improve for the better. It’s past time to think critically, and if you cannot manage to do that, it’s going to be a bumpy rest of 2020 for you.
Yes, waking up is uncomfortable, but imperative to truly understand what’s going on and empower yourself to realize no one owns you. Apocalypse means “the lifting of the veil,” and it’s time for Americans to realize they’ve been sold a pack of lies bundled under the name “democracy” and the illusion of choice.
Be seeing you
Posted in Uncategorized | Tagged: Federal Reserve, Greg Mannarino, Wall Street | Leave a Comment »
Posted by M. C. on July 22, 2020
If the wealthy want to pay more to help fight COVID-19, they can choose to do so themselves. They don’t need government to force them.
Their real motive has nothing to do with addressing the pandemic, and everything to do with raising taxes to make government a bigger part of your life. If they succeed, the costs will fall not only on rich taxpayers but on everyone, because our liberty will be a bit more compromised.
https://www.economicpolicyjournal.com/2020/07/the-truth-about-rich-calling-for-higher.html
By Randall G. Holcombe
More than 80 wealthy individuals are petitioning for higher taxes on the rich to help pay for the billions in new government programs made necessary by the Covid-19 pandemic. This is petition is disingenuous at best.
If the wealthy want to pay more to help fight COVID-19, they can choose to do so themselves. They don’t need government to force them.
Many wealthy individuals already have pledged to devote more than half their wealth to charitable activities, without government force. What this petition actually asks is that government tax other people, who don’t share the values of the petitioners.
It’s their money to allocate as they want. If they want to allocate it to others, that’s their choice, although as I document in my book Writing Off Ideas: Taxation, Foundations, and Philanthropy in America, sometimes the results are not as desirable as the intentions.
In my book, I note that Henry Ford was notoriously uncharitable during his lifetime, saying that the best thing he could do with his money was to reinvest it in the Ford Motor Company to give people good jobs and affordable automobiles. Was he wrong? Regardless, it was his money and his choice to make.
There are two other troubling aspects to this petition. One is the presumption that the best way to fight the virus pandemic is to give the government more money. On the contrary, governments may not be the best organizations to fight diseases. Moreover, COVID-19, while raging right now, is a temporary problem and there are already aggressive initiatives underway to quickly develop a vaccine. It is unlikely at this point that sending more money to government will hasten the end to the pandemic.
A second issue—the most disingenuous part—is that the petition calls for a permanent increase in taxes to address a temporary problem. The petitioners are using the current pandemic as a cover to further their pro-government agenda.
Their real motive has nothing to do with addressing the pandemic, and everything to do with raising taxes to make government a bigger part of your life. If they succeed, the costs will fall not only on rich taxpayers but on everyone, because our liberty will be a bit more compromised.
Randall G. Holcombe is a Research Fellow at the Independent Institute, and the DeVoe Moore Professor of Economics at Florida State University.
The above originally appeared at the Independent Institute.
Further comment from RW:
What Holcombe says above is correct but there are two more issues that must be kept in mind.
1. That the virus is not so out of the ordinary that extraordinary measures must be taken.
2. It is not clear that more money needs to be thrown at COVID-19. The pharmaceutical companies are throwing billions at attempting to find therapies and vaccines to fight the virus. Basic medical insurance can handle the few who fall seriously ill because of the virus. And private charity could take care of the rest.
In other words, Holcombe’s warning is spot on that this a call by the rich to expand the state—a state that is controlled by the very rich.
It also should be noted that Millionaires For Humanity is a project of a bunch of big government lefty “social change” groups: Bridging Ventures, Club of Rome, Human Act, Oxfam International, Patriotic Millionaires, and Tax Justice UK.
Posted in Uncategorized | Tagged: covid-19, Government, higher taxes | 1 Comment »
Posted by M. C. on July 22, 2020
The reason black unemployment lags is because of high minimum wage laws, which no doubt would be boosted by a Biden administration. The only way the Fed could counter that is by creating higher price inflation. That is, there would be a new kind of inflation, blackflation, price inflation created by the Fed at higher rates to raise nominal low-skilled wage rates above the minimum wage rate.
How nutty can you get?
https://www.economicpolicyjournal.com/2020/07/indications-are-that-biden.html
As old-fashioned as it sounds, we’re thumbing through Joe Biden’s economic plan on the theory that someone somewhere might want to know what’s in it. And what should we find, hiding like a presidential candidate in a Delaware basement, but a promise to politicize the Federal Reserve in a whole new way.
Mr. Biden wants to create a third mandate for the Fed. Recall that the current two are price stability and full employment. But, as the policy blueprint Team Biden cooked up with Bernie Sanders’s economic advisers argues, “the Black unemployment rate is persistently higher than the national average, which is why Democrats support making racial equity part of the mandate of the Federal Reserve.” The Fed chairman would be required to collect data and report on “the extent of racial employment and wage gaps” and what the Fed is doing about them.
The Journal notes:
Black employment tends to lag behind other ethnic groups, for complex reasons. This means the economy generally needs to run hotter for longer before lower-skilled black workers start to benefit from more employment and higher pay. That’s an argument for sound economic policies. But this proposal would bake in a bias in favor of ultraloose monetary policy, with racial justice furnishing a formal excuse to overlook inflation risks.
The reason black unemployment lags is because of high minimum wage laws, which no doubt would be boosted by a Biden administration. The only way the Fed could counter that is by creating higher price inflation. That is, there would be a new kind of inflation, blackflation, price inflation created by the Fed at higher rates to raise nominal low-skilled wage rates above the minimum wage rate.
How nutty can you get?
Well, as it turns out, even nuttier.
The Fed could make sure money is pumped into businesses that hire blacks, regardless of skills.
The Journal again:
The Biden monetary mandate also would open the door to regulatory mischief, which is the real prize for the progressive left. Under a diversity mandate, the Fed could require the banks it regulates to collect detailed data about the racial make-up of employees, and their pay, at companies applying for loans.
That data could then form a basis for enforcement action against banks that didn’t do enough to reduce racial pay gaps via their lending decisions, whatever “enough” means in the wilds of social-justice Twitter or a Treasury run by Elizabeth Warren. This would be a back-door way to impose through regulatory pressure various wage and diversity rules that otherwise couldn’t pass Congress or survive the Supreme Court. Such a data trove would provide bottomless fodder for grandstanding politicians on Capitol Hill…
Under a race mandate, the Fed will have no choice but to obey whatever dictates Congress and a Biden Administration send its way in 2021.
There is a serious group of radical central planners surrounding Biden. A Fed Black Lives Matter monetary policy would be bad enough but it wouldn’t stop there.
–RW
Be seeing you
Posted in Uncategorized | Tagged: blackflation, Joe Biden, minimum wage, price inflation | Leave a Comment »
