Under Obama and Biden, the banking sector has been weaponized against industries American leftists don't like. The Obama administration acted as if its regulatory targets did not deserve due process, and the program ravaged far and wide.
Original Article: Biden and Forgotten Federal Financial Tyranny
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2023-12-22
According to the Case-Shiller index, home prices have increased 44 percent since February 2020. That’s just an average, of course, and some markets have seen increases in prices that are far higher. Even in middle-American housing markets, however—where home prices are supposedly more reasonable than on the coasts—prices have soared. In Cleveland, for example, the index is up 40 percent since early 2020. During the same period, the index rose 50 percent in Atlanta and 33 percent in Chicago. This sort of price inflation is not merely a product of the physical supply of housing. Demand for housing has been greatly inflated by nearly fifteen years of historic lows in interest rates, following by immense flows of newly created money during the Covid Panic. As economist Brendan Brown has
2023-12-20
According to the post-Keynesian School of Economics economist Hyman Minsky, the capitalist economy has an inherent tendency to develop instability that culminates in a severe economic crisis. The key mechanism that pushes the economy toward a crisis is the accumulation of debt.
According to Minsky, during “good” times businesses in profitable sectors of the economy are rewarded for increasing their debt levels. The more one borrows, the more profit one seems to make. The rising profit attracts other entrepreneurs and encourages them to raise their debt levels.
Since the economy is doing well and borrowers show visible improvements in their financial health, lenders are more eager to lend. Over time, however, the pace of debt accumulation starts to rise much faster than the borrower’s
2023-12-19
Corn is grown in the United States as a staple crop for human food, as cattle feed, and as input for conversion to corn ethanol. The federal laws and rules for the corn ethanol industry were initiated in the 1970s and have continued today with ethanol subsidies. The federal corn ethanol sales pitch is for the United States to gain energy independence by lowering vehicle tailpipe emissions through the required blending of ethanol into the nation’s gasoline supply, resulting in reduced greenhouse gas (carbon dioxide) emissions.
Corn Belt growers and their federal representatives embrace and push federal corn subsidies and other interventions into law. The Corn Belt is centered in the US Midwest states of Illinois, Indiana, and Iowa.
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2023-12-16
A hodgepodge of activism and legalistic negotiations characterized the 28th meeting of the Conference of the Parties (UNFCCC COP28), which concluded Wednesday, December 13, 2023. The resulting agreement, dubbed the “UAE Consensus,” includes the first-ever UN statement in the 27-year history of climate summits to call for the “transition away” from fossil fuels. In fact, it marks the first climate agreement to specifically refer to “fossil fuels” as the culprit behind climate change. Nevertheless, since the language in the final agreement calls for the “phase down” rather than the “phase out” of fossil fuels, the more zealous contingents in attendance typically remained less than satisfied.
In ambiguous bureaucratese based on the speculative and largely unfalsifiable (unscientific) claims
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