Inside America’s Corruption Capital – Washington D.C.

Corruption exists everywhere, but in America, how corrupt have the federal government and the agencies that run our country become? Today, we meet with First Amendment attorney Benjamin Barr to stroll around Washington, D.C., to better understand government corruption, learn how our tax dollars are used, and discover more about how America operates behind the scenes.

Gold Star Families Defend Trump After Harris’ Criticism

‘Fox & Friends Weekend’ hosts discuss Gold Star families defending former President Trump for attending a memorial for fallen service members after Vice President Harris’ criticism.

Senator Tom Cotton Shuts Down The Fake News Arlington Hoax

 

Larry Elder Tackles “Black Jobs” Outrage

In an excellent segment, the “Sage from South Central calms the Leftist outrage with reason and facts. He reads from an excellent HOUSTON CHRONICLE article found here @Archive: “How immigration policies failed Black Americans | Opinion”

You can find Larry Elder’s radio shows — yes, he is back on the radio! — at OMNI FM.

Here is the June 20, 2024 HOUSTON CHRONICLE article in toto:

This year marks a milestone in Black American history. It’s the 50th anniversary of U.S. Rep. Barbara Jordan’s televised speech to the nation regarding the impeachment of President Richard Nixon.

Widely considered one of the best American political speeches of the 20th century, it catapulted Jordan — a Houstonian, and the first Southern Black woman in Congress — to national prominence. It remains the most celebrated moment of her career.

But there’s another element of Jordan’s story that’s notoriously undercovered: her opposition to immigration policies that have failed Black Americans for centuries — and continue to hinder their ability to build wealth today.

With slavery abolished after the Civil War, Black Americans began accruing real wealth. After emancipation, the white-black wealth gap narrowed from 23-to-1 in 1870 to 11-to-1 in 1900. While still suffering from both de jure and de facto discrimination, Black Americans took on paying jobs, became business owners and even purchased land.

Then the Progressive Era’s immigration boom began in earnest. Between 1900 and 1915, more than 15 million immigrants arrived at U.S. shores — destabilizing labor markets and particularly hurting low-skilled Black workers.

Numerous Black civil rights and labor leaders, including A. Philip Randolph, endorsed efforts to slash immigration rates. Excessive immigration, Randolph explained,“over-floods the labor market, resulting in lowering the standard of living.”

Congress ultimately listened and passed the Immigration Act of 1924. By tightening the labor market, the law was arguably a factor in radically shrinking the earnings gap between Black and white men between 1940 and 1980.

It’s simple supply and demand, after all. When there are fewer workers available, to attract them, employers have to raise wages and provide better benefits.

The 1924 law certainly had flaws. It gave preference to prospective immigrants based on their country of origin, and strongly favored northern Europeans. Ultimately, the law’s discriminatory nature led Congress to repeal it in 1965.

But lawmakers threw out the baby with the bathwater. Instead of creating a nondiscriminatory immigration system that protected American workers from cheap foreign labor, the reforms of the 1960s encouraged mass migration — and Black Americans have been paying a steep price ever since.

As Harvard economist George Borjas has argued, low-skilled workers — including many Black Americans — are particularly disadvantaged by lax immigration policies, because immigrants compete with them directly for blue-collar jobs. Each “10-percent immigrant-induced increase in the supply of a particular skill group reduced the Black wage by 4.0 percent, lowered the employment rate of Black men by 3.5 percentage points, and increased the incarceration rate of Blacks by almost a full percentage point,” Borjas and his colleagues concluded.

Of course, Black Americans aren’t the only ones harmed. Journalist David Leonhardt recently chronicled how American workers of all races have seen their wages decline thanks to the renewed tide of immigration that began in the 1960s.

He echoes the forgotten perspective of Barbara Jordan.

Jordan chaired the U.S. Commission on Immigration Reform, a bipartisan panel of experts tasked by President Bill Clinton with offering a suite of immigration reform recommendations. After dozens of hearings and extensive research, the commission recommended that the United States pare down immigration to 550,000 people per year and eliminate low-skilled immigration altogether. Clinton initially endorsed the commission’s recommendations, but Congress did not move forward with the reforms.

Since the Jordan Commission, too many policymakers have defended a system that allows in millions of predominantly low-skilled immigrants, both legal and illegal, who depress wages for Black Americans. And it’s not just liberal lawmakers who protect the status quo. In ruby-red West Virginia, for instance, the state House passed a bill that would have required most employers to use the free, accurate E-Verify system to ensure that jobs only go to citizens and legal immigrants. But it didn’t make it out of the state Senate.

Reducing immigration, just as Congress did a century ago, would give Black families a fair shot at the American dream.

Andre Barnes is HBCU Engagement director for NumbersUSA.

Low IQ Voters, It’s 2020 All Over Again | MRC

  • Add it all up, and the networks have granted the combined Democratic ticket of Harris-Walz 82% positive press, while Trump-Vance have faced 90% negative coverage. — NEWSBUSTERS

A new Media Research Center poll finds that large majorities of registered Democrats and Independents who voted for Joe Biden in 2020 — exactly those who would be expected to support Vice President Kamala Harris in this year’s contest — are mostly in the dark about many of the controversial and radical positions Harris has taken.

More from NEWSBUSTERS:

PolitiFact’s Convention False Percentages: 89 For Trump, 33 For Harris

With both party conventions now in the books, so too are PolitiFact’s nightly recaps. After four days of the RNC and the DNC, PBS’s new fact-checking partner, gave Republicans three times as many false ratings while giving Democrats three times as many true ratings.

Throughout the RNC, PolitiFact awarded two true ratings, one mostly true, eight half trues, eight mostly falses, 16 falses, and one pants on fire. That is eight percent on the right side of the truth-o-meter, 70 percent on the wrong side, and 22 in the middle.

During the DNC, PolitiFact handed out seven true ratings, four mostly trues, ten half trues, six falses, two falses, and zero pants on fires. That is 38 percent on the green side, 28 on the red side, and 34 in the yellow.

The difference was even starker when it came to Donald Trump and Kamala Harris. PolitiFact slapped Trump with one pants on fire, 16 falses, eight mostly falses, eight half trues, and only one mostly true. Harris, by contrast, got one true, one half true, and one mostly false. That is 89 percent false for Trump and 33 percent for Harris.

It is a common retort to say Trump or Republicans are labeled false more often because they deserve it. However, when Harris falsely claimed, “The United States Supreme Court just ruled he would be immune from criminal prosecution,” PolitiFact did not give her a false or even mostly false rating despite quoting the Court ruling that, “There is no immunity for unofficial acts.”

Also on Thursday, PolitiFact gave JD Vance a false rating for claiming “Kamala Harris wants to give $25,000 to illegal aliens to buy American homes” because “At PolitiFact, the burden of proof is on the speaker. Having seen no specific details from Vance’s team that demonstrate Harris’ proposal would benefit immigrants in the country illegally, we rate his claim False.”

However, when Harris claimed Trump “and his allies would limit access to birth control, ban medication abortion and enact a nationwide abortion ban, with or without Congress,” PolitiFact again declined to hand out a false rating despite writing several words that suggested Harris was spinning and fearmongering about birth control and Trump’s federalist abortion stance.

If those two examples were given the false labels they deserved, Harris’s percentage of false claims would have nearly doubled to 60 percent, which is quite a different headline than 33.

Stephen Miller & Clay Travis

MUST WATCH – Glenn Beck

The mainstream media is working overtime to hide the most radical presidential ticket in U.S. history in Harris-Walz. America has seen socialists run for president before, as fringe third- or fourth-party candidates. But now we have radical left-wing socialists at the TOP of a major party ticket. While Kamala Harris has never openly admitted to being a socialist, her Senate record gives it away. She scored to the left of Bernie Sanders! She voted TWICE against the Born-Alive Abortion Survivors Protection Act. According to new reporting by the Daily Signal, when Harris was California’s attorney general, she had the home of pro-life journalist David Daleiden raided by California DOJ agents who seized video evidence that potentially incriminated employees of Planned Parenthood. And Harris has found her dream socialist partner in Minnesota Governor Tim Walz. Don’t buy the “Midwestern dad” propaganda. Last year, Walz proudly signed a law making Minnesota a “trans refuge” for children who want transgender surgery or irreversible hormone treatments. If parents in Minnesota refuse to grant their child these experimental trans treatments, this law allows state courts to take custody of the child. He also signed a separate bill mandating that all health insurance plans cover these gender transition procedures. Glenn dives beyond the media headlines to uncover the darkest details of their past. They are socialists in sheep’s clothing. And the evidence reveals their dictator tendencies and their anti-freedom, anti-American agenda for our nation. Vote accordingly this November.

New A.I. Generated Views of the Shroud of Turin Image

The Shroud Evidences – Dr. Johnston

(March 29, 2024) Is there enough evidence to prove that the Shroud of Turin is real? Prestonwood Baptist Church apologetics pastor Jeremiah Johnston used to be a skeptic. But once he did a deep dive into the history of the Shroud, he became a “total defender” of the Shroud’s authenticity. This Easter Week, Pastor Johnston joins the Glenn Beck Program to lay it all out from a scientific perspective. Plus, he explains why you don’t need to be Catholic to believe the Shroud is truly the burial cloth of Jesus Christ.

 

  • (John 20:5-8, CSB) 5Stooping down, he saw the linen cloths lying there, but he did not go in. 6 Then, following him, Simon Peter also came. He entered the tomb and saw the linen cloths lying there. 7 The wrapping that had been on his head was not lying with the linen cloths but was folded up in a separate place by itself. 8 The other disciple, who had reached the tomb first, then also went in, saw, and believed.

The indomitable Leon Morris:

6–7 It is not said how much later Peter arrived. But when he got there he did not hesitate but went straight into the tomb. He saw the cloths that had been around the body. John specifically mentions that the cloth that had been on Jesus’ head was not with the others, but was wrapped up in a place of its own (Berkeley [Berkeley The Holy Bible, The Berkeley Version (Grand Rapids, 1959)] renders “in its particular place,” but this seems to go beyond the meaning of the Greek). In recent years this has often been taken to mean that the grave clothes were just as they had been when placed around the body. That is to say, Jesus’ body rose through the grave-clothes without disturbing them. This is not inconsistent with the language, but we should bear in mind that John does not say this. That the headcloth18 was not with the others scarcely supports the view, for had this been the case it would have been right alongside them, with no more than the length of the neck (if that) between them. Moreover, “folded up” does not look like a description of the way it would have appeared if the head had simply passed through it. However, whatever be the truth of this, John is plainly describing an orderly scene, not one of wild confusion. This means that the body had not been taken by grave robbers. They would never have left the cloths wrapped neatly. They would have taken the body, cloths and all, or would have taken the cloths off and dropped them in a heap.19 [1]

18 σουδάριον is a loanword from the Latin sudarium, a cloth for wiping off sweat (sudor); it denotes a cloth more or less like our handkerchief. Here it apparently signifies a jawband, a cloth that went “round the face and over the head” (Robinson, Priority, p. 292) to hold the jaw in position.

19 Long ago Chrysostom remarked: “For neither, if any persons had removed the body, would they before doing so have stripped it; nor if any had stolen it, would they have taken the trouble to remove the napkin, and roll it up, and lay it in a place by itself; but how? they would have taken the body as it was. On this account John tells us by anticipation that it was buried with much myrrh, which glues linen to the body not less firmly than lead …” (85.4; pp. 320–21). Grave robbing was regarded as a serious offense; Barrett cites an ordinance of Claudius prescribing capital punishment for offenders (The New Testament Background: Selected Documents [London, 1957], p. 15).

[1] Leon Morris, The Gospel according to John, The New International Commentary on the New Testament (Grand Rapids, MI: Wm. B. Eerdmans Publishing Co., 1995), 735.

The Shroud Evidences – Mr. Schwortz

(July 30, 2023) Is the debate over the Shroud of Turin over? Many Christians believe it was the burial cloth of Jesus and even non-Christian scientists struggle to explain how the image of a man was imposed onto it. But some scientists have claimed that carbon dating has proven it is much younger than previously thought. However, Shroud of Turin Research Project Official Photographer Barrie Schwortz joins Glenn to explain why he’s refuting that claim. According to Schwortz, who was once a “total skeptic” of the Shroud, the carbon dating was improperly done. Instead, he believes the most plausible explanation is simple: “This is the burial shroud of the historic Jesus of Nazareth.”

The NEW YORK POST updates the issue a bit with [of course] an A.I. rendering:

New X-ray analysis seems to prove that the Shroud of Turin was indeed from Jesus Christ’s time – allowing artificial intelligence to recreate stunning images of what many believe could be Christ himself.

Christians have long believed that the treasured relic was the burial cloth of Jesus, showing an imprint of their Messiah’s face.

While dating analysis from the 1980s suggested it was actually a painted forgery from the 1300s, new X-ray dating evaluation suggests it was from 2,000 years ago, putting it in Christ’s time, according to a study published in the Heritage journal.

That knowledge has since allowed cutting-edge artificial intelligence (AI) technology to creating vivid, eerily lifelike renderings of the facial impression that believers are convinced was left on the cloth at the moment of Christ’s resurrection.

One image drawn from the facial imprint by AI site Midjourney was eerily similar to many classical art historical depictions of Jesus, including the shoulder-length hair and beard. 

The AI image also shows the man with wounds on his bare chest, suggesting that he had just been tortured and killed, noted the Daily Express, which generated the image.

[….]

Dr. Liberato de Caro, the leader of the Heritage analysis, claimed that the wide-angle X-ray analysis proved that the Shroud of Turin matched a similar fabric sample from Masada, Israel dating between 55 to 74 CE.

“The experimental results are compatible with the hypothesis that the Turin Shroud is a 2000-year-old relic,” the study said, claiming that the previous definitive analysis was flawed due to contamination.

There were also tiny particles of pollen from the Middle East lodged in the linen fibers of the shroud, which seemingly ruled out the idea that the fabric came from Europe, Dr. de Caro added. …

Of course, there are other A.I. renderings of the image, and they vary in appearance. So know that man-made parameters for the programs change the end result — in other words, the images may be close, but no cigar.

My dad had this same painting hanging in his hallway. The eyes are painted shut, but it also loos like he is staring at you:

Spooky Jesus

… Uhm … I would much rather have the A.I. renderings than this.

Note that Doc Habermas talks about the “teeth image” that makes the accurate image of God

The Shroud Evidences – Dr. Habermas

Dr. Gary Habermas shares the special qualities of the Shroud of Turin and problems with the most recent Carbon 14 dating.

The Resurrection Evidences – Dr. Craig

FACT CHECKING DNC 2024 | Links via LOUDER w/CROWDER

Democratic National Brat (Language Warning)

We investigated the 2024 DNC in Chicago, and asked hard questions to politicians, delegates, senators, protestors, and your fav progressive stars.

Featuring interviews with Rep. Jerry Nadler, AG Letitia James, Chris Cuomo, Sen. Raphael Warnock, Pete Buttigieg, Michael Cohen, JJ Abrams, Kellyanne Conway, Sen. Ed Markey, Harry Sisson, Vermin Supreme, Crackhead Barney, Nick Shirley, Cornel West, and Hasan Piker.

  • These people at the DNC had no idea this dude is making fun of them. — Champagne Joshi

WHO IS TIM WALZ?
ROUND ONE – MORE HERE

BACKGROUND

RADICAL POSITIONS:

GEORGE FLOYD:

COVID:

IMMIGRATION

CHINA:

INTEREST GROUP RANKINGS:

STATE TAX BURDEN:

MISC SCANDALS

LAST NIGHT OF CONVENTION
ROUND TWO – MORE @LOUDER w/CROWDER

LIVE FACT CHECK

KAMALA THE BORDER CZAR

POLICIES SHE HAS CLARIFIED

POLICIES KAMALA IS HIDING FROM

KAMALA AND WILLIE BROWN

JOBS

INFLATION

IMMIGRATION

CRIME

One Massive Lie / Joe Biden’s DNC Speech

RPT: by far the best fact-check going on.

Former Vice President Joe Biden was up way past his bedtime last night at the DNC, his speech was a grocery list of every lie about Donald Trump of the last eight years, & we’ve got a rapid-fire debunk for you along with a deep dive into specific claims about Trump’s stances on abortion, a purple-haired person got into a heated showdown at a Wisconsin board meeting, and more! GUEST: Josh Firestine

(JOIN MUG CLUB!)

Here are LOUDER w/CROWDER‘s sources:

BIDEN’S MIDNIGHT RAMPAGE

DEMS LOVE ABORTION

Trump Mic-Drops Reporter in Howell Michigan

THE NEW YORK POST has an excellent piece on this issue, of which a large excerpt lies below:

ANN ARBOR, Mich. — The Harris campaign — along with media allies — has made an extraordinary claim, implying Donald Trump’s Tuesday visit to discuss crime and safety in Howell, Mich., is motivated by racism.

And Howell residents are mystified.

[….]

Vice President Kamala Harris’ campaign thinks Trump’s Tuesday event at the Livingston County Sheriff’s Office in Howell, a city of 10,000 near Michigan’s major population centers, is a sign of solidarity with these young men.

“The racists and white supremacists who marched in Trump’s name last month in Howell have all watched him praise Hitler, defend neo-Nazis in Charlottesville, and tell far-right extremists to ‘stand back and stand by,” said Kamala Harris’ Michigan spokeswoman Alyssa Bradley.

“Trump’s actions have encouraged them, and Michiganders can expect more of the same when he comes to town.”

A Washington Post article boosted this narrative: “Howell has long been associated with the Ku Klux Klan because of the rallies Michigan-based Grand Dragon Robert Miles held on a nearby farm in the 1970s and 1980s.”

And Reuters headlined a piece “Trump to campaign in Michigan town with historic links to white extremism.”

Anonymous user Carlstak extensively edited Howell’s Wikipedia page Aug. 17 to emphasize claims of racism after the announcement of Trump’s event. 

The user, for example, changed the line “For many decades, Howell had the reputation of being associated with the Ku Klux Klan,” to say “For many decades, Howell has had” that reputation.

Livingston County Sheriff Michael Murphy, who is hosting Trump, rejects any insinuation that a culture of racism attracted the Trump campaign.

“I’ll call 100% bullsh-t on that,” Sheriff Murphy told The Post.

“Frankly, I get a little bit fired up when people bring that up,” he said, “We did have the Grand Dragon that lived here in Livingston County. But we somehow as a result of that got labeled with ‘racist, unwelcoming community,’ which truly couldn’t be further from the truth.”

[….]

Karoline Leavitt, Trump’s national press secretary, said, “Did the media write this same story when Joe Biden visited Howell in 2021, or when Kamala Harris visits cities where racist protests and marches have occurred in the past? No, of course not.”

Trump’s Michigan spokeswoman Victoria LaCivita emailed The Post a list of cities where Kamala Harris has campaigned that have seen racist incidents in the past, including Eau Claire, Wis., Pittsfield, Mass., Philadelphia and Atlanta.

“You should ask the Harris team why she believes all residents of Howell, Michigan, are racists and if that also applies to the cities she has visited with their own divisive histories,” said LaCivita.

The Harris campaign did not reply to a request for comment. 

Trump Mic Drops Reporter’s “White Supremacist” Question

RED STATE notes the backfire aspect of Kamala’s campaign strategy here:

  • this latest moment of fake outrage could backfire on the Harris campaign by alienating voters in these areas. It certainly comes off as an elitist dismissal of their communities, does it not? Are we to ignore people living in certain parts of the country because evil things occurred where they live? This isn’t exactly the best way to attract people to one’s cause.

HOWELL, Mich. (FOX 2) – About a dozen white supremacists made their mark on Howell with a disruptive demonstration last weekend that reignited the city’s checkered past.

“I saw a few men, teenagers maybe, all covered in black – kind of like ninjas. That was my first thought,” said Howell resident Shannon Harvey.

[….]

Harvey lives a block away from the courthouse where the men were, and could hear them.

“I can sum it up in two words. Their messaging was white power,” Harvey said. “I was very surprised to hear the type of language that they were using downtown. It’s something that you don’t hear here often.”

The men moved from the courthouse, to the library. Eventually, the demonstration was dismantled and they went home. 

“Howell Police were able to make contact with several of the demonstrators confirming that all those contacted came from outside of our community, as far away as Saginaw and Macomb Counties,” Ellis stated. 

The reason these men chose Howell is believed to be because of Robert Miles, a prominent KKK leader who held cross burnings and rallies nearby in the 1960s. ….

Great Barrier Reef Has Record Reef Coverage | Dr Peter Ridd

Dr Peter Ridd has been researching the Great Barrier Reef since 1984, has invented a range of advanced scientific instrumentation, and written over 100 scientific publications. He has lectured geophysical fluid dynamics, meteorology and oceanography since the 1990s.

THE AUSTRALIAN has more:

The Australian Institute of Marine Science officially has confirmed what we’ve known for a few weeks: this will be another bumper year for Great Barrier Reef coral cover.

AIMS states that two of the three major Great Barrier Reef regions have set new records for coral cover, and the cover in the third has equalled the existing record. When you add up the regional results to get the coral cover for the entire reef – something AIMS inexplicably stopped doing in 2016 – the Great Barrier Reef has more coral in each of the past three years than in any of the preceding 35 years.

This is despite the supposedly catastrophic bleaching in 2016, 2017, 2020, 2022 and this year killing huge amounts of coral.

What is even more remarkable is that the types of coral that have flourished – plate and staghorn coral – are the most susceptible to bleaching. But of course AIMS is still arguing these records do not mean the reef is healthy.

[….]

One therefore has to ask: what does the reef have to do to get the tick of approval? Australia has just won a record number of medals at the Olympics, which everyone seems to think is good. Why is the Great Barrier Reef always close to death no matter how many medals it wins?

The record coral coverage on the Great Barrier Reef across the past three years is not mentioned in the latest Scientific Consensus Statement, just released by CSIRO. Instead it focuses on claims the reef is badly affected by farmers and that climate change is a great threat. The summary of the statement (alone about 100 pages) acknowledges traditional owners, vilifies farmers and claims that freshwater ecosystems miraculously have become an integral part of the Great Barrier Reef. But somehow it could not find room to mention the reef has record coverage of coral. …

The Great Barrier Reef had more coral in the last 3 years, than in the last 35 years.

Biden/Harris & Harris/Walz Monetary Policy Cause Inflation and Shortages

First, the greedflation story ignores business competition. How could so many firms suddenly command higher profit margins? Corporate concentration didn’t dramatically increase during the pandemic. Firms didn’t magically gain more market power or suddenly become greedier. To believe in greedflation, we’d therefore have to think that businesses across many sectors colluded by using their pricing power to raise prices by limiting their output. But in most industries the urge to undercut rivals and grab market share would undermine this coordination. Moreover, real output actually grew strongly in 2021 and 2022, while inflation surged, thus contradicting the idea that collusive efforts to withhold output was what drove rising prices.

Second, the greedflation tale overlooks consumers. How could customers suddenly afford higher prices across many industries? If businesses in some sectors with price-insensitive customers jacked up prices to puff their profits, those consumers would have less money to spend elsewhere, reducing demand and prices for other goods. This would leave overall inflation largely unchanged. To get a situation in which all prices are rising—a macroeconomic inflation—therefore requires more overall spending, perhaps indicating that there was more money available to spend to begin with.

This points us to the real story: Far from profits driving inflation, inflation and temporarily higher profits were both being driven by a third factor: excessive macroeconomic stimulus.

(CATO | See also CITY JOURNAL)

Supply chains were broken by GOVERNMENT REGULATION AND RULES during covid. It just “didn’t happen” by accident or natural causes. Supply chains were cut by enforcement. As above… long haul video!

  • NEWSBUSTERS: “Brooks Surprised ‘Responsible’ Harris Would Endorse Soviet-Like Price Controls”

JOHN STOSSEL on Greed and Inflation

Inflation is sharply up. Now it’s 7%. What went wrong?

STEVE FORBES for PRAGER U ~ Inflation

Look for the source of a society’s collapse, and you’ll usually find the i-word (inflation) at its core. So what exactly is inflation? How does it work? Why is it so dangerous? And how does it affect your everyday life? Steve Forbes breaks it down.


“GREEDFLATION”


The entire article from REASON is this:

The Misuse of Data Behind the ‘Greedflation’ Narrative
There’s no evidence that greed is causing inflation.

The chairman of the WAYS & MEANS Committee has a wonderful [7-2022] fact check page refuting the Democrats “Greedflation” position. I have been warning of this inflationary cliff for many years in my posts on Quantitative Easing.

Likewise, this is a decent article on the topic of disproving a large portion of the “Greedflation” charge:

As the US economy continues to grapple with persistently high inflation, President Biden has repeatedly blamed “corporate greed” as the primary culprit.

The administration has accused companies of engaging in “greedflation” and “shrinkflation” – raising prices and reducing product sizes to maximize profits at the expense of consumers.

However, a recent report from the Federal Reserve Bank of San Francisco challenges this narrative, providing a more nuanced and evidence-based understanding of the factors driving the current inflationary pressures.

The Federal Reserve Bank of San Francisco’s research shows that while there has been an increase in markups (the difference between a product’s selling price and its production cost) in select industries like motor vehicles, the overall markup rate has remained largely in line with previous economic recoveries. Contrary to Biden’s claims, the data suggests that fluctuations in corporate markups have not been a driving force behind the ups and downs of inflation during the post-pandemic recovery.

The report attributes the current inflationary pressures to other factors, such as the massive government stimulus spending and the Federal Reserve’s low-interest-rate policies during the COVID-19 pandemic. These measures boosted consumer demand at a time when the economy was experiencing supply chain disruptions and shortages, leading to a sharp rise in prices across various sectors.

While corporate profits did spike during the economic recovery, the Fed’s analysis indicates that this is not unusual compared to previous recoveries, such as the Great Recession. The increase in profits is largely attributable to pandemic-era subsidies and lower business taxes, rather than a deliberate effort to exploit consumers through “greedflation.” ….

(More at TAMPA FREE PRESS)

The CAROLINA JOURNAL has a wonderful article as well.

Price inflation is never caused by greed. It’s always caused by a growing money supply. The money supply has grown big-time since 2020, and now we pay a lot more for food and housing. [RPT: actually, the money supply has been growing since Obama]

A new report claims resounding evidence” shows that high corporate profits are a main driver of ongoing inflation, and companies continue to keep prices high even as their inflationary costs drop.

The report, compiled by the progressive Groundwork Collaborative think tank, found corporate profits accounted for about 53% of inflation during last year’s second and third quarters. Profits drove just 11% of price growth in the 40 years prior to the pandemic, according to the report.

Is this true? Unraveling this mysterious relationship between corporate profit and inflation is easy once we clearly define what profit and inflation are. This allegation that corporate profits accounted for 53 percent of inflation is a result of using wrong definitions and reasoning by mainstream economics researchers.

First, let us see what inflation is. As Henry Hazlitt explained in his article “Inflation in One Page,” inflation is “an increase in the quantity of money and credit. Its chief consequence is soaring prices. Therefore inflation—if we misuse the term to mean the rising prices themselves—is caused solely by printing more money. For this the government’s monetary policies are entirely responsible.”

Faulty reasoning by mainstream economists occurs because of their faulty way of mistaking the price rise effect of inflation as inflation itself. They are putting the cart before the horse. Rising prices is only one of the chief effects of inflation, not inflation itself.

Another mistake that mainstream economists make is that they use the long disproved Marxist “production cost/labor theory of value” to explain the rise in the prices of consumer goods, as is the case with this research done by the Groundwork Collaborative think tank. Production cost (corporate profit) doesn’t determine the prices of consumer goods. The subjective value of the consumer determines those prices. In this article I do not have the space to discuss this very important subjective value theory. I advise my readers to study the literature of the Austrian School of economics.

They also mistake individual commodity price fluctuation for inflation. In a market economy, prices of various commodities are always changing. Such price fluctuation doesn’t reflect the mythical general price level that mainstream economists use to measure inflation.

Also, if corporate profits explain the rise in prices of consumer goods—what mainstream economists call inflation—then what explains the rise in the prices of producer goods? The same corporate profits? We need to remember here that inflation not only increases the prices of consumer goods but also producer goods. When the supply of money rises due to the Fed’s easy money policies of creating dollars out of thin air, it dilutes the purchasing power (value) of all existing dollars in the economy. And because dollars are legal tender money (a common medium of exchange), they will buy less of both consumer and producer goods (i.e., looking from the goods side it will look as if their prices have gone up). Actually, the dollar is losing its value and so buying less of everything against which it is being used in market exchange. …..

(More at MISES.ORG)

Few people have had as profound an impact on modern economics as economist Milton Friedman. His Nobel Prize-winning ideas on free enterprise resonated throughout the world and continue to do so. Johan Norberg, Senior Fellow at the Cato Institute, tells Friedman’s fascinating story.

With the recent passing of Walter Williams, I watched a video of him [Thomas Sowell’s tribute] that reminded me of a video of Milton Friedman on the Donahue Show. So I wanted to combine them for affect.