Inflation? Pfffttzz! What you really need is ...

Don't know if you have ever been to France and/or worked there. I have and I accidentally committed a practically mortal sin. I worked one extra hour without permission, because I was running some massive data imports. It took two hours and the equivalent of a Congressional hearing before I was allowed to leave the facility. Frankly, I was surprised they didn't give me an additional penance of 10 Hail Marys and 12 Our Fathers to boot. Originally Posted by Why_Yes_I_Do

they had to file paperwork on your behalf all because you worked 1 extra hour?

they had to file paperwork on your behalf all because you worked 1 extra hour? Originally Posted by dilbert firestorm

it's France. what did you expect? common sense?


BAHHAAAAA

they had to file paperwork on your behalf all because you worked 1 extra hour? Originally Posted by dilbert firestorm

I even had my sponsor (host) with me, but they needed to validate it with 2 supervisors (managers) before I could be released.

Side note: Their cafeteria food was superb. First class, plus they served beer and wine and of course, espresso afterwards - and then a 45 minute walk around the campus. All told, lunch ran pretty close to 2 hours long.

Pray for Speaker McCarthy. He began speaking in tongues yesterday, uttering gibberish.

Exclusive — Speaker McCarthy: ‘We’re Not Going to Pass a Clean Debt Ceiling,’ ‘We Have to Spend Less Money’

“The one thing I firmly believe,” McCarthy said, is “We’re not going to raise taxes and we’re not going to pass a clean debt ceiling.”

“I told the president we have to spend less money,” McCarthy added.

McCarthy said that without serious reforms to discretionary spending the U.S. could be on the brink of serious financial calamity.

“Every great society collapses when they over-extend themselves,” McCarthy told Breitbart News.

Religeous scholars have traced this gibberish to an ancient dialect called: Fiscal Responsibility.

Lucky, Team Demonicrat remains immune and unaffected by the afliction.

Dem Rep. Harder: ‘Genie Is out’ after SVB and We’ll Need to Raise Amount of Deposits Protected ‘Pretty Dramatically’ Above $250K

On Wednesday’s broadcast of NBC’s “MTP Daily,” Rep. Josh Harder (D-CA) argued that covering deposits above the $250,000 limit in the case of Silicon Valley Bank (SVB) means “the genie is out of the bottle” and the limit on deposits covered by the FDIC has “implicitly been raised, but we need to make it explicit” and raise the limit “pretty dramatically.”...

So much for sticking it to the rich. Eh Comrade?!?

...So much for sticking it to the rich. Eh Comrade?!? Originally Posted by Why_Yes_I_Do

Speaking of increasing taxes, ehhh uhmm fees. Looks like not only will everyone get to contribute their unfair share of "fees" by out of thin air raising the coverage obligations on the size of depositors covered, but Joey Bribes wants to insure his handlers, aka Chinese benefactors, get their full cut at the pig slop trough, courtesy of ye olde American taxpayers. What a guy....

Janet Yellen: Chinese Depositors to Silicon Valley Bank to Be Made Whole

Treasury Secretary Janet Yellen told Sen. James Lankford (R-OK) during a Senate Finance Committee hearing on Thursday that Chinese depositors will be made whole while community banks will have to pay higher fees.

Yellen spoke before the Finance Committee to discuss President Joe Biden’s budget proposal, but given the increasing concern over the instability in the banking sector, most questions revolved around the federal government’s response to the collapse of Silicon Valley Bank, Signature Bank, and others.

Lankford asked Yellen if Chinese investors, including those with affiliations with the Chinese Communist Party, would be made whole through the government’s efforts to stave off a financial crisis.

He asked:

It has been reported publicly that SVB had a large number of Chinese investors, including some that are directly connected to the Chinese Communist Party. Will those companies, entities, and investors that are Chinese investors be made whole based on assessments in my banks in Oklahoma? So, what I’m asking is, will my banks in Oklahoma pay a special assessment to be able to make Chinese investors whole from Silicon Valley Bank?

Yellen responded, “Uninsured investors will be made whole in that bank and I suppose that could include foreign depositors, but I don’t believe there is any legal basis to discriminate among the uninsured.”

Part of the Treasury Department, Federal Reserve, and Federal Deposit Insurance Corporation’s (FDIC) moves to stave off a banking crisis will include a special assessment on banks, or a fee, to replenish the Deposit Insurance Fund.

Lankford decried that community banks will have to pay an additional fee to make Chinese investors whole.

The Treasury secretary responded, saying that they are doing what they can to fight off a worsening economic situation.

Yellen said, “If we have a collapse of the banking system and its economic consequences, that will have very severe effects on the banks in Oklahoma.”

My gut says these topics are what the supposed Trump arrest is meant to distract you from seeing. Trump getting arrested fixes none of these glaring and systemic issues.

Will Fox and Newsmax cover the perp walk? They could always show the things that concern your likes instead.

From this thread's opening post:

...MOAR!!

MOAR Taxes! -- MOAR Spending! -- MOAR Debt!

MOAR, MOAR, MOAR! Hell yeah!

Originally Posted by Why_Yes_I_Do

Whatever collection of good news for Biden may be inherent in this clusterfuck, part of it must surely involve all the media hyperattention currently focused on a possibly impending Trump indictment, which deflects attention from his staggeringly dishonest and unserious tax-and-spend fantasies.

As noted earlier, the proposed "tax increases" wouldn't raise much (if any) additional revenue and would shackle the economy with a great deal of deadweight loss by ensuring that our economy, at best, would muddle through the next few years in a slow-growth slog as it struggles to digest all the additional larded-on debt concomitant with rapidly rising interest rates.

Only those suffering from a serious case of ignorance or innumeracy believe for a minute that the debt accumulation run rate can be significantly reduced without heavily taxing the middle class, like Europe's social democracies do with a VAT plus much higher income tax rates on the middle class -- not just the wealthy.

Bernie Sanders likes to extol the virtues of Scandinavian-style social democracy while insinuating that insufficient taxation of "multimillionaires and billionaires" is the only thing holding the US back from being able to afford all that uber-generous largesse.

But can you imagine what would happen if Bernie and AOC began advocating a European-style tax system? If America's middle class were to find out what that actually entails, open revolt would ensue!

...Oh crud, totally forgot they went woke then broke. My bad. Oh well, you can get them on-line. Try some of those Giza sheet sets too.

Moody’s Chief Economist: ‘Inflation Is Still High’ So Problems Like Banking Issues Will Continue for ‘Next 12-18 Months’

During an interview with CBS News on Tuesday, Moody’s Analytics Chief Economist Mark Zandi stated that the problems in the banking industry are the inevitable result of rate hikes by the Federal Reserve where “things are going to start to wobble and break and it’s going to feel uncomfortable.” And because inflation is “still high” “the next 12-18 months are going to be uncomfortable.”

Host John Dickerson asked, “It seems weird to go back to something Powell said before all of this banking stuff, but recently, in his testimony in the Senate, Chairman Powell talked about how things were going to get bumpy after the Fed made its moves. What does bumpy mean to you and is what we’ve seen in the banking industry, is that essentially what bumpy looks like?

Zandi responded, “That’s what bumpy looks like. … When you raise interest rates and you raise them as fast as the Fed has and as high as they have over the past year, things are going to start to wobble and break and it’s going to feel uncomfortable. And this, what we saw in the banking system over the last eight to ten days is exactly what he was talking about. It’s going to get bumpy. And I don’t think it’s over. Inflation is still high. The Fed’s still got to get inflation back in. And so, the next 12-18 months are going to be uncomfortable.””...

Hmmmm... a fuzzy memory just strolled by: Didn't the FJB regime, with the Fed as background singers, tell us inflation was Temporary? Or was it simply Transitory? Appears to now be called "Uncomfortable" or is it "Woobly" or is "Bumpy" more better or something else?

Frankly, do any of those words sound like the sort of comforting and reassuring words you feel "comfortable" hearing from leading economists?

He shoots! He scores!
Now instead of giving away a few $Billion$ here or there, we're talking serious money in loans that Ukraine will have to "pay back". Yeah Right!

Have Some More: IMF Approves $15.6 Billion Loan Package for Ukraine

The Washington-based International Monetary Fund (IMF) agreed to release a $15.6 billion loan package to Ukraine on Wednesday while reassuring contributors Kyiv has strong economic policies and is “fighting corruption.”

AP reports Ukraine’s finance ministry applauded the initiative, boasting the program will “help to mobilize financing from Ukraine’s international partners, as well as to maintain macrofinancial stability and ensure the path to post-war reconstruction after Ukrainian victory in the war against the aggressor.”

The loan program will run for four years, with the first 12 to 18 months focusing on helping Ukraine close its massive budget deficit and easing the pressure to print money to use for spending, the IMF said in a statement as reported by AP.

The loan program goes beyond previous IMF practice by lending to a country at war, under new rules that allowed assistance due to circumstances of “exceptionally high uncertainty.”...

But many probably didn't hear it over the pending Trump 2024 indictment noise, distraction, red meat tossed down the alley-way.