Johns Hopkins economist predicts ‘whopper’
of a recession in 2023 — and points
to one key economic reading the Fed is missing
Posted By: PageTurner, 8/31/2022 6:11:22 PM
Americans are worried a recession is looming—and according to a top economist, they ought to be. Steve Hanke, a professor of applied economics at Johns Hopkins University, said this week that he believes the U.S. is heading for a “whopper” of a recession next year. In an interview with CNBC’s “Street Signs Asia” on Monday, Hanke argued that a major economic downturn had been made inevitable due to U.S. money supply soaring and stagnating. “We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t even looking at it,” he said.
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Chile dodges a socialist bullet
6 replies
In today's happy news, Chile's voters have decisively, overwhelmingly rejected a full-blown socialist rewrite of their 40-year constitution that otherwise has served them so well.
According to the lefty U.K. Guardian (whose account was less biased than that of the New York Times):
Chileans have voted comprehensively against a new, progressive constitution that had been drafted to replace the 1980 document written under Gen Augusto Pinochet’s dictatorship.
With 96% of the votes counted in Sunday’s plebiscite, the rejection camp had 61.9% support compared with 38.1% for approval amid what appeared to be a heavy turnout with long lines at polling states. Voting was mandatory.
SANTIAGO, Chile — For the past three years, Chileans have fought over a new path forward for their country in the form of a Constitution, written entirely from scratch, that would transform their society and grant more rights than any national charter before it.
On Sunday, they rejected that text.
The proposed changes had looked to remake one of the most conservative countries in Latin America into one of the world’s most left-leaning societies, but Chileans decided that went too far.
The rejection was an abrupt ending to a long
So was it presidential historian Jon Meacham
who wrote Biden's Mussolini Meltdown speech? 30 replies
who wrote Biden's Mussolini Meltdown speech? 30 replies
Joe Biden's Mussolini meltdown moment in Philadelphia, which was summed up to voters with the image below, left a lot of people on both sides of the political aisle scratching their heads. After all, as the meme says, "If you're going to dedicate an entire speech to 'my opponents are Nazis' don't specifically go for this visual". Just days earlier, Joe Biden had been denouncing Republicans as "semi-fascists." In the wake of the Philly speech, voters learned that apparently, it was the "semi" part that upset him. Why settle for "semi-fascist" when what he was offering was full-blown fascist?
It didn't help him any politically,
Americans are paying a hell of a lot for Joe Biden's spend-a-thon, in the form of inflation, which, at last glance, was costing American workers upwards of $5,000 in extra cash a year.
Inflation is always and everywhere a monetary phenomenon, as Milton Friedman used to say, and sure enough, inflation started getting bad when a Democrat Congress passed and Joe Biden signed off on, the $1.9 trillion American Rescue Plan Act of 2021, which was passed to supposedly help America recover from COVID.
Fox News's Tyler Olson did the job mainstream corporate journalists wouldn't do by checking up on how that was going:
SAO PAULO - Brazil's Luiz Inacio Lula da Silva has a 13-percentage-point lead over President Jair Bolsonaro, but the far-right incumbent has narrowed his leftist rival's advantage ahead of the October election, according to a poll published on Thursday.
The survey by Datafolha showed Lula with 45% of voter support against 32% for Bolsonaro in the first round of the election scheduled for Oct. 2, compared with 47% and 32% respectively in the previous poll.
Well, the left has got one. On Twitter and beyond, you've never heard such crowing:
According to Politico:
Democrat Mary Peltola has defeated Republican Sarah Palin in the special election for Alaska’s vacant House seat, a big upset over the former governor in the state’s first election under ranked-choice voting.
Peltola, a former state legislator who will become Alaska’s first indigenous member of Congress, defeated a special election field that included Palin and another Republican, Nick Begich III. The Democrat finished first in the initial tally and then won enough second-choice votes from Begich’s supporters to see off Palin,
Diana would not have been a 'great fan' of Meghan Markle as she 'might imagine', a former friend of the Princess of Wales has said on the 25th anniversary of the royal's death.
The Princess' diarist Tina Brown said she thinks Diana would have seen the former actress as someone who is 'steering Harry in a direction that was not good' for the Prince.
Ms Brown added: 'I don't think Diana would have been the great fan of Meghan that Meghan herself might perhaps imagine.'
Americans are worried a recession is looming—and according to a top economist, they ought to be.
Steve Hanke, a professor of applied economics at Johns Hopkins University, said this week that he believes the U.S. is heading for a “whopper” of a recession next year.
In an interview with CNBC’s “Street Signs Asia” on Monday, Hanke argued that a major economic downturn had been made inevitable due to U.S. money supply soaring and stagnating.
“We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t even looking at it,” he said.
New York's governor, Kathy Hochul, must have thought she was being clever by demanding the Republican citizens of New York to move to Florida if they weren't onboard with the wokester socialist way she was running her state:
“Just jump on a bus and head down to Florida where you belong, OK?” she said. “You are not New Yorkers.” (Snip for tweet) Her state has already lost 1.5 million residents in the past decade, as the New York Post noted, and cannot afford to lose any more of them, given that those fleeing make up the largest portion of the tax base.
The one-year anniversary of Joe Biden's disastrous pullout from Afghanistan has come and gone, and Biden himself is expecting that you've got better things to do, same as he does, so nobody the wiser.
(Snip) When a suicide bomber blew up a gate at Kabul airport on August 26, 2021, taking down 13 U.S. service members, along with 200 others, that was the ultimate sacrifice well in need of a memorial from the commander-in-chief on whose watch it occurred.
At a minimum, they could be honored and remembered on the one-year anniversary of their deaths, right?
Not by Joe Biden.
Joe had better things to do, and it wasn't just looking at his watch.
Total chaos as millions of student loan
borrowers rush to get Joe Biden's $10,000
debt amnesty 24 replies
borrowers rush to get Joe Biden's $10,000
debt amnesty 24 replies
As President Obama used to say of his clownish vice president: "Don't underestimate Joe's ability to f*** things up."
Which brings us to Joe Biden's student loan debt forgiveness rollout, announced this week.
Let's set aside the issue of the legality of the matter.
The actual execution of the matter is Joe in Action.
According to Axios: The implementation of President Biden's widespread, income-targeted student loan forgiveness is shaping up to be a bureaucratic challenge for the Department of Education.
Why it matters: Millions of Americans are in limbo waiting for information on how to take action on student debt relief — the success of which relies largely on an agency juggling
The New York Times has finally concluded its great hunt for a journalist to cover conservative media for its new beat -- and came up with this guy, according to The Blaze:
The New York Times announced on August 18 that Ken Bensinger is joining its politics desk and will report on right-wing media for the section's so-called "democracy team." Bensinger previously worked for BuzzFeed, the Los Angeles Times, and the Wall Street Journal.
David Halbfinger, the Times' politics editor, suggested in the announcement that Bensinger is well prepared to report on right-wing media. His recent work on the Oath Keepers
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General Mark Milley Still Silent After
Marines Used in Biden Speech Attacking
‘MAGA Republicans’ 35 replies
Marines Used in Biden Speech Attacking
‘MAGA Republicans’ 35 replies
General Mark Milley, Chairman of the Joint Chiefs of Staff, has yet to comment on the use — or abuse — of Marines in President Joe Biden’s speech Thursday attacking “MAGA Republicans,” after Milley complained about Trump’s march across Lafayette Square.
Biden delivered a diatribe against Donald Trump and the political opposition in general, standing in front of Independence Hall as it was bathed in red light, and flanked by Marines who had been deliberately positioned, the White House said, in staging the address.(Photo) In 2020, Milley joined Trump in a march across Lafayette Square in front of the White House to a church
During a portion of an interview aired on Friday’s broadcast of “The Issue Is,” Energy Secretary Jennifer Granholm praised California’s proposal to ban the sale of new gas-powered vehicles by 2035 and said the plan “could be” a national model, but acknowledged that the price of electric vehicles has to come down and the power grid has to be expanded.
Host Elex Michaelson asked, “California made national headlines by becoming the first state to say, by 2035, we’re not going to have any gas-powered vehicles that are new that are being sold. You can still drive your old ones, but you can’t sell new ones. Do you like this concept?”
If a politician from Florida decides to run for president in 2024, his (or her) home state will be short two votes in the Electoral College, and when the new session of the U.S. House of Representatives convenes in January 2023, Florida will be missing two congressional seats to which it is entitled.
Why? Because according to a post-2020 census survey, the U.S. Census Bureau significantly undercounted the population of Florida, as well as Arkansas, Illinois, Mississippi, Tennessee and Texas. At the same time, it overcounted the population of eight states, all but one of which is a blue state.The 2020 errors were discovered when
MSNBC Guest on Trump Voters: “We Are
at War with These People; These Folks
Are Evil” (VIDEO) 32 replies
at War with These People; These Folks
Are Evil” (VIDEO) 32 replies
MSNBC’s Tiffany Cross along with her hate-filled guests on Saturday doubled down on Joe Biden’s attacks on millions of Trump supporters.
Joe Biden Thursday evening delivered the most divisive and evil speech in US history.
The imagery was shocking.
The red glow.
The shadowy Marines standing behind Joe Biden as he threatened millions of Trump supporters.
MSNBC guest Roland Martin on Saturday demonized millions of Trump supporters.
“We are at war with these people. These folks are evil. They have allowed evil into their house with Donald Trump,” Roland Martin said.
The Director of Diversity and Inclusion for a private school in Baltimore expressed support for racial segregation in order to protect students from the “white gaze” and promoted turning children into woke activists. Kalea Selmon, the Director of Diversity and Inclusion at Maryvale Preparatory School, gave a presentation where she argued that nonwhite students must be given spaces away from white students and described how those who work in education can use students as activists.(Snip)In a video of part of her presentation, Selmon claims that “BIPOC spaces are sacred.”(Snip)She goes on to explain that 70 is “the number of BIPOC students” while 460 was the total number
Canadian stabbing: 10 dead, 15 injured
from stabbings; 2 suspects remained at
large, police say 30 replies
from stabbings; 2 suspects remained at
large, police say 30 replies
Regina, Saskatchewan—A series of stabbings in two communities in the Canadian province of Saskatchewan left 10 people dead and 15 wounded, authorities said Sunday. Police are looking for two suspects. The stabbings took place in multiple locations on the James Smith Cree Nation and in the village of Weldon, northeast of Saskatoon, police said. Rhonda Blackmore, the Assistant Commissioner of the RCMP Saskatchewan, said some of the victims appear to have been targeted by the suspects but others appear to have been attacked at random. She couldn't provide a motive. "It is horrific what has occurred in our province today," Blackmore said. She said there are 13 crime scenes
When will Obama have made enough money?
30 replies
Cantor Fitzgerald LP will pay former President Barack Obama $400,000 to speak at a conference in September, likely the first of many lucrative Wall Street paydays.
(snip)
Obama doesn’t really need the money: He earned over $14 million for his first three books, and bidding for his next deal (a package with Michelle) has run over $60 million. But he has every right to cash in
(snip)
there is something a bit . . . rich here, given what Obama had to say in a 2010 speech (snip):
“(snip). I mean, I do think at a certain point you’ve made enough money.”
Which makes you wonder when Obama will reach the point
So was it presidential historian Jon Meacham
who wrote Biden's Mussolini Meltdown speech? 30 replies
who wrote Biden's Mussolini Meltdown speech? 30 replies
Joe Biden's Mussolini meltdown moment in Philadelphia, which was summed up to voters with the image below, left a lot of people on both sides of the political aisle scratching their heads. After all, as the meme says, "If you're going to dedicate an entire speech to 'my opponents are Nazis' don't specifically go for this visual". Just days earlier, Joe Biden had been denouncing Republicans as "semi-fascists." In the wake of the Philly speech, voters learned that apparently, it was the "semi" part that upset him. Why settle for "semi-fascist" when what he was offering was full-blown fascist?
It didn't help him any politically,
In President Joe Biden’s 2007 memoir, Promises to Keep: On Life and Politics, he wrote that the late Sen. Mike Mansfield (D-Mont.) gave him the best advice he ever received: “Joe, never attack another man’s motive, because you don’t know his motive.” Judging from Biden’s increasingly belligerent speeches, he has forgotten Mansfield’s eminently wise counsel. This was rendered abundantly clear during his Thursday speech at Independence Hall in Philadelphia. Standing before a backdrop that looked as if it had been designed by Leni Riefenstahl, he attacked the motives of half the electorate.
The recipe for a Democrat October surprise
29 replies
Start with one divisive presidential speech accusing 74 million voters of being enemies of the state. Add two Marine guards against a blood-red background for flavor. Whip up the base. Stir in a large pool of resentment and bring to a boil. Sprinkle in a large contingent of FBI operatives to mix with low-intellect stoned bloggers living in repair shop basements and calling for civil war.
Bake for a few weeks and allow resentment to rise. The FBI will supply the necessary heat and preparation to foment Insurrection 2.0. Frost the cake with the state-controlled news and social media reacting in horror and social media
Prince Charles was pictured heading to church in Balmoral alone this morning after claims he continues to find Harry and Meghan's jibes at the royal family 'painful' and is 'completely bewildered' by their behaviour. The Prince of Wales drove himself to Crathie Kirk this morning, with no sign of the Queen, who is normally a regular attendee and has been dealing with mobility issues in recent months. It comes as the royal family, many of whom have spent the last few weeks in Balmoral during the summer break with Her Majesty, prepare for more bombshells following the arrival of the Sussexes in the UK.
Smooth Talker: Barack Obama Wins Emmy
for Narrating ‘Our Great National Parks’
Netflix Series 28 replies
for Narrating ‘Our Great National Parks’
Netflix Series 28 replies
Fresh Hollywood aspirant Barack Obama won an Emmy on Saturday night for narrating his Netflix documentary series Our Great National Parks.
The award goes alongside two Grammys previously garnered for talking about himself in the audiobook reading of two of his published memoirs, The Audacity of Hope and Dreams of My Father.
The latest Hollywood accolade applauds his five-part show, which features national parks from around the globe, as produced by Barack and Michelle Obama’s own production company, Higher Ground.
Comments:
Unlike Krugman, this guy knows what he is talking about. He predicted the current inflation exactly as it came at exactly the levels it came.