{"id":1484658,"date":"2024-08-19T23:15:00","date_gmt":"2024-08-20T03:15:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1484658"},"modified":"2024-08-19T23:15:00","modified_gmt":"2024-08-20T03:15:00","slug":"1307-days","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/1307-days\/1484658\/","title":{"rendered":"1,307 Days"},"content":{"rendered":"

1,307 Days<\/span><\/p>\n

\n

Submitted by QTR’s Fringe Finance<\/a><\/em><\/p>\n

One thousand, three hundred and seven. That\u2019s how many days Kamala Harris has been Vice President of the United States, effective this Monday.<\/p>\n

Now let\u2019s do a thought experiment. Put aside the fact that Harris was arbitrarily made the Democratic nominee without ever receiving a delegate or winning a primary.<\/p>\n

And put aside the fact that, after usurping power via an in-party coup, she has continued as its candidate for nearly a month without giving an unscripted press conference or taking questions.<\/p>\n

Let\u2019s focus on the fact that this candidate, who has been part and parcel of the well-being of the state of the nation for the better part of four years, is not only completely blind to the damage her current administration’s policies have caused but is publicly calling them out. And then, as if that wasn\u2019t bad enough, she\u2019s proposing policy solutions that are going to make the problems created by her policies\u00a0worse<\/em>.<\/p>\n

Last week, taking a break from reading the same thing from a teleprompter every day, somebody on Harris’s strategy team thought it would be a good idea to begin trashing the economy of the country over the last three years.<\/p>\n

The problems are well known: the country has been suffering from ridiculous inflation, and prices are through the roof, placing a burden on many low- and middle-class families.<\/p>\n

<\/a><\/p>\n

Chart:\u00a0Zero Hedge<\/a><\/em><\/p>\n

\u201cWe all know that prices went up during the pandemic when the supply chains shut down and failed, but our supply chains have now improved and prices are still too high,\u201d she said on Friday. \u201cA loaf of bread costs 50% more today than it did before the pandemic. Ground beef is up almost 50%.\u201d<\/p>\n

But the alarm is coming from inside the house.<\/p>\n

\u201cUnder the Biden-Harris administration, grocery prices have shot up 21%, part of an inflation surge that has raised overall costs by about 19% and soured many Americans on the economy, even as unemployment fell to historic lows. Wages have also risen sharply since the pandemic, and have outpaced prices for more than a year. Still, surveys find Americans continue to struggle with higher costs,\u201d ABC\u00a0wrote<\/a>\u00a0last week.<\/p>\n

<\/a><\/p>\n

The same report makes it clear that grocery prices are now only rising in-line with pre-pandemic rates of change: \u201cGrocery prices are still painfully high compared to four years ago, but they increased just 1.1% in July compared with a year earlier, according to the most recent inflation report. That is in line with pre-pandemic increases.\u201d<\/p>\n

In other words, the price gouging boogeyman doesn\u2019t seem to exist.<\/p>\n

The stunning thing is Kamala Harris is now campaigning on being able to fix these problems when her administration oversaw them to begin with. I mean, I knew a lot of the Democratic Party base was essentially the voting equivalent of trained circus seals and that they are going to vote for whatever candidate the state stuffs down their throat as the solution to racism and climate change anyway, but this is far more egregious.<\/p>\n

When CNN is running headlines like this and you\u2019re a Democrat, you\u00a0know<\/em>\u00a0your policy has to really be horrific:<\/p>\n

<\/a><\/p>\n

Same with The Washington Post running opinion columns like this one:<\/p>\n

<\/a><\/p>\n

Think of the hubris necessary to run on a platform of fixing the policies of the last administration when\u00a0you are<\/strong><\/em>\u00a0the last administration.<\/strong><\/em><\/p>\n

<\/a><\/p>\n

Source:\u00a0WaPo<\/a><\/em><\/p>\n

Now, let\u2019s take that destructive idiocy and square it: the proposed \u201csolutions\u201d Harris is coming up with are all\u00a0extraordinarily inflationary.<\/strong><\/em>\u00a0Harris has proposed cancelling medical debt, a $6,000 child tax credit for families within a newborn child, $25,000 in downpayment assistance for 400,000 first-generation home buyers and a $10,000 tax credit for first-time home buyers.<\/p>\n

In other words: \u201cHubba, hubba, hubba, money, money, money. Who do you trust?\u201d<\/p>\n<\/p>\n

In the world of unicorns and rainbows, this all sounds great. But back here in reality, where people\u00a0know<\/em>\u00a0there are always consequences to actions, the country simply doesn\u2019t have the money to pay for this crap. That means that the money for these proposals is going to have to be printed, and, as most of us know, expanding the money supply is the literal definition of inflation.<\/p>\n

Putting aside the moral hazard that these policies would create\u2014namely, that giving everybody a $25,000 credit to buy a house guarantees the price of housing rises by $25,000 per house because the seller now knows that you\u2019re $25,000 richer\u2014the result is going to be more inflation.<\/p>\n

And at the same time Harris proposes slamming the inflation accelerator down to the floor, she\u2019s turning around and blaming the problem that the government is creating\u2014inflation\u2014on grocery stores and \u201cprice gouging.\u201d<\/p>\n

As a result, she has proposed price controls on food, a policy you would be more likely to see in North Korea or communist Russia than in Los Angeles and New York. Price controls do nothing to solve the problem: they only would lead to food shortages, black markets, and grocery stores so burdened by regulation that would be forced to go out of business if they can\u2019t raise their prices.<\/p>\n

\ud83d\udd25\u00a050% OFF FOR LIFE:<\/strong>\u00a0Using the coupon entitles you to 50% off an annual subscription to\u00a0Fringe Finance\u00a0<\/em>for as long as you wish to remain a subscriber:\u00a0Get 50% off forever<\/a><\/strong><\/p>\n

Even a Mensa candidate like Harris should understand that grocery stores have some of the lowest margins of any business. They have hiked prices on items because the cost of producing those items has risen. Just because Harris doesn\u2019t like the end result of shrinkflation and higher prices doesn\u2019t make the idea of micromanaging a state-planned economy any more of a solution than it has been all the times it has failed throughout history.<\/p>\n

Harris has called her plan an \u201ceconomic opportunity plan\u201d, but the only thing that creates opportunity, lowers prices, and gives consumers more choice and a better bargain is free-market capitalism. Subsidizing houses with taxpayer money, worsening the problem that the welfare state has created by incentivizing having children, using taxpayer money and purchasing power to socialize other people\u2019s fiscal irresponsibility and trying to exercise government control over the cost of rice and beans is the opposite of having a vibrant free-market economy that offers people opportunity.<\/p>\n

Instead, it is literally throwing a wet blanket of communism over what\u2019s left of our country’s economy and implementing arguably the worst possible \u201csolutions\u201d to fix the problem of inflation that the country is grappling with. If these harebrained ideas take hold, the country will suffer from significantly more inflation than it has dealt with over the last three years. The result would make the stagflation that we are dealing with now a mainstay for many years to come and would also disincentivize the rest of the world from holding U.S. dollars and U.S. treasuries.<\/p>\n

And so there you have it: the party that constantly fearmongers and scares its base into thinking that not voting for them will result in authoritarian fascism is pushing an unelected candidate, selected by a handful of the country’s elites, eager to usher in an openly communist agenda that is all but guaranteed to destroy the fabric of our country.<\/p>\n

You can\u2019t make this sh*t up.<\/p>\n

Now read:<\/p>\n

George Gammon Explains The Yen Carry Trade Chaos<\/a>
\n\tMatt Taibbi: Kamala, Trump & The Death Of Objective Truth<\/a>
\n\tModern Chickenshit Monetary Theory<\/a><\/p>\n

<\/a><\/p>\n

QTR\u2019s Disclaimer<\/strong><\/em>:<\/strong>\u00a0Please read my full legal disclaimer\u00a0on my About page here<\/a><\/em>.\u00a0This post represents my opinions only.<\/em>\u00a0In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a\u00a0Creative Commons license<\/a>\u00a0with my best effort to uphold what the license asks, or with the permission of the author. This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade\/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I\u2019m bullish without owning things, sometimes I\u2019m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates.\u00a0I did my best to be honest about my disclosures but can\u2019t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I\u2019m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it\u2019s that important.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 08\/19\/2024 – 19:15<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/1307-days<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

1,307 Days Submitted by QTR’s Fringe Finance One thousand, three hundred and seven. That\u2019s how many days Kamala Harris has been Vice President of the…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1484658","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6ee6","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1484658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1484658"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1484658\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1484658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1484658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1484658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}