Some final thoughts on political class insanity to wrap up the month and the year:
1)We have made it no secret that we believe that Biden’s economic policies, or lack of economic policies, has caused incalculable suffering on American families:
His inflation policies have caused overall living prices to increase about 17% in the past few years.
Food prices are up about 20% in the past few years.
Gas prices are up about 50% since he took office.
Over 60% of Americans are living paycheck to paycheck.
Credit card balances are now over one trillion dollars for Americans as they use their credit cards to try to keep up with higher and higher living prices.
Christmas tree costs were up 10% over last year.
The number of Americans living in poverty went from about 7% when Biden took office to 12% today.
Millions of Americans are still homeless, hungry, and in need of medical care and medical insurance under Biden.
And America’s veterans are also suffering under Biden’s policies:
The Department of Housing and Urban Development recently did a study that showed that the number of homeless veterans rose more than seven percent in 2023 vs. 2022.
That 7% increase represents 2,400 newly homeless veterans over the past year, bringing the total number of homeless veterans to 35,574.
Experts in the field say that this estimate is probably too low.
Another day and another set of Americans suffering under Biden’s economic malaise.
2)We have discussed a number of times how Nancy Pelois and her family have allegedly benefited financially from insider government trading any number of times. By knowing what, if any government actions are going to be taken, they were supposedly able to leverage that information before it became known to the rest of the world. Every other American would be prosecuted and thrown in jail for suspicious activity like this but apparently in Washington, that is not the case.
One such example get be found at the following link where Nancy Pelosi and family made a quick $100,000 relative to the VISA IPO and their insider position:
https://loathemygovernment.blogspot.com/2011/11/final-proof-of-undeniable-corruption.html
And apparently and allegedly her family continue to profit off of her political position:
Biden and others in Washington have long considered a proposal to provide over $50 billion in taxpayer wealth to domestic computer chip makers to offset a potential trade war with China.
One of those domestic chip makers that would get this taxpayer money is Nvidia.
In the midst of this discussion, Paul Pelosi, Nancy Pelois’s husband, purchased a substantial amount of call options with Nvidia at a strike price of $120 each.
He made this purchase in June, 2022, the day before the Senate was to consider this subsidy package.
Government ethics expert, Craig Holman, says this coincidence “raises the specter” of insider trading for the Pelosi family.
FYI, the latest stock price for Nvidia is just under $500 a share, more than four times what Paul Pelosi paid for his call options.
Sure this could all be a coincidence. Sure.
3)Biden keeps claiming that his policies are working and that Americans are just too ignorant to understand what a great job he is doing. Americans must be ignorant since they do NOT consider him doing a good job:
A recent Gallup poll shows that Biden is set to conclude the year with the lowest Presidential approval rating of any modern President entering a reelection year.
Now the good news is that his low 39% approval rate in December is up from its all-time low of 37% in November.
The bad news is that his 39% approval rate at the same time in other Presidencies is lower than it was for Carter, Reagan both Bush Presidents, Clinton, Obama and Trump.
Trump was at 45%, six points higher than Biden’s 39%.
The same poll found that 68% of those polled said the economic situation in the country is deteriorating and only 22% said that economic conditions are good or excellent.
What a mess of a Presidency: bad economic, immigration, and foreign policies, bad approval numbers, and a President that truly is in cognitive decline with no hope of ever coming up with solutions to problems he had a major hand in creating.
4)As we alluded to above, Americans are very financially stressed under Biden:
A study by LendingClub found that 62% of those polled say they are living paycheck to paycheck.
This is the same level of angst that was reported last year.
A TD Bank survey kind of verifies this finding since it found that credit card debt in the country is now over $1 trillion.
Given that credit card financing rates are at or near all time highs, the use of running up such high credit card debt will cause even more financial hardship down the road.
No Joe, the economy is not doing well.
5)We have often referred to two themes in this blog as it relates to population changes:
Theory 1: people want to be free - it is human nature to be free and when over taxation and over government regulation restrict that freedom we have seen in numerous cases of residents and businesses leaving states where their freedom is curtailed to go to other states where freedom is more appreciated by local politicians.
Theory Two: we have often covered the flight out of high tax, high regulation, high crime states that result in lower government tax streams which result in even higher taxes and regulations which drives out more people and the financial death spiral is under way.
We constantly report on the race to the bankruptcy court by major states like New York, New Jersey, Illinois, and California, who are hemorrhaging residents and businesses at a very high rate and forcing them to start down the path of financial ruin.
And the latest stats from the Census Bureau confirm our suspicions that the out migration from these states could very likely help them down the road to financial collapse:
The states gaining the most residents in 2023 were Texas and Floirda, states with no state income tax and a very friendly government regulation environment (Theory 1).
87% of the national population growth happened in Florida and Texas.
Between July, 2022 and July, 2023, Texas gained almost half a million new residents while Florida, Georgia, South Carolina, and Tennessee (another state with no state income tax) also gained many new residents that came from other areas of the country.
While these states were gaining residents, no surprise that our prime high tax, bankruptcy states were continuing to lose residents.
California lost over 330,000 residents, New York state lost over 216,000 residents and Illinois lost almost 84,000 residents (Theory 2).
Of these three states, New York had the highest rate of loss based on population.
People want to be free, safe, keep as much of their hard earned wealth as possible, and do not want intrusive government in their lives. This lesson continues to be lost on such shrinking states as California, New York, and Pennsylvania and their clueless politicians.
That will do it for today: more homeless veterans, more political insider trading, more bad poll numbers for Biden’s failure of a Presidency, more people living paycheck to paycheck, and more people seeking freedom from the states that continue to tax themselves into extinction.
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If you agree that we need to deseat every member of Congress for their lack of success and accomplishment, then please consider going to the following petition link to help the cause:
https://www.change.org/p/deseat-congress-reset-freedom
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