Showing posts with label INFLATION 2015. Show all posts
Showing posts with label INFLATION 2015. Show all posts

Saturday, October 24, 2015

Trump doesn't get why Carson is ahead in Iowa citing religion when it's support for ethanol giving Carson the leg up

Trump, quoted here:

'“I love Iowa, and I honestly believe those polls are wrong,” he said. “I’m a Presbyterian, I’m a great Christian.”'

Forty percent of Iowa corn gets diverted to ethanol production, without which food prices would drop as feed prices normalize. All of which would mean harder times for Iowans.

Carson wants to add ethanol infrastructure and increase its share in gasoline to 30% instead of the current 10%:

'“Therefore, I would probably be in favor of taking that $4 billion a year we spend on oil subsidies and using that in new fueling stations" for 30 percent ethanol blends, he added.'

If Trump were smart he would exploit the unpopularity of ethanol with the American people revealed in polling to marginalize Carson nationally on the issue, but that will never sway Iowa voters tied to ethanol for their livelihood, sort of like preaching against gambling in Vegas.

Trump can afford to lose Iowa, and probably will.

He should move on.


Friday, October 23, 2015

Crony capitalism in nutty Iowa: Nearly 40% of Iowa's corn ends up as ethanol, not feed, driving up food and fuel costs

Since 2010-2011, Iowa has produced an average of 12.7 billion bushels of corn, with an average of 5 billion bushels going to ethanol production, as reported here.

It is estimated food prices would fall 13% by repealing the Renewable Fuel Standard signed by George W. Bush in 2005. Ethanol also reduces MPG by 25%, is bad for engines and does nothing to reduce carbon emissions.

Republicans should kill ethanol! 


Saturday, September 26, 2015

Conservatives give thanks for the achievements of John Boehner, libertarians, the ignorant and the stupid just snarl


  • Saved taxpayers $762 billion over ten years by making the Bush tax rates permanent for 98% of all filers beginning at the dawn of 2013
  • Saved taxpayers $1.8 trillion over ten years by finally fixing the Alternative Minimum Tax for all victims of bracket-creep
  • Saved taxpayers $339 billion over ten years by maintaining the 15% capital gains tax rate for incomes below $450,000
  • Saved families $354 billion over ten years by maintaining the child tax credit
  • Cut average annual federal deficits of $1.3 trillion 2009-2012 by 57%, to $556 billion on average 2013-2016 by ending the emergency Social Security Tax reductions and instituting the sequester spending cuts
  • The S&P 500 immediately responded with total returns in 2013 of 32.39%, the fifth best year since 1970  
  • The moribund US Dollar rose 19%, from below 80 to 95 today as overall fiscal rectitude improved
  • Causing oil prices to plummet from an average of $95/barrel 2011-2014 to $52/barrel on average in 2015 
  • Causing average US gasoline prices to fall from $3.34/gallon one year ago to $2.28/gallon today
  • Helping to keep the all-items consumer price index year-over-year nearly flat, rising just 0.2%

Wednesday, September 16, 2015

Obama says America is great right now, on same day his own Census Bureau reports people are 6.5% poorer than in 2007

Obama here.

Marketwatch here:

"The Census Bureau reported that median household income was $53,657 in 2014. That’s less than the 2013 median of $54,462, but not statistically different. What is of significance is that, when adjusted for inflation, the median household generated 6.5% less than they did in 2007, the year before the recession."

Monday, February 2, 2015

Stephen Moore tells some whoppers: Income was FALLING long before the 2013 increase in the capital gains tax rate

From Stephen Moore of the Heritage Foundation, here:

"When Mr. Obama entered office the capital gains and dividend tax was 15 percent. Then he raised it to 20 percent and then he added a 3.8 percent investment surtax, bringing the rate to 23.8 percent. The tax rose by more than 50 percent. ...

"Wages have stagnated under Mr. Obama as taxes have risen on capital."

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Nice try at hiding the chronology, Moore, but no cigar.

Real median household income and real gross private domestic investment crashed in tandem and in concert with the 2007 recession. The investment side rebounded quickly, but real household income did not, and still hasn't. What's more, the whole phenomenon preceded any increase in the capital gains tax rate, which didn't pass until January 2013, with Republican support by the way. 

And it won't do to talk about wages stagnating, either. Real incomes have actually fallen, and fallen big. Employers figured out that the 2008 crisis gave them the cover they needed, their golden opportunity, to shed millions of expensive workers and rehire younger, cheaper ones. It's the biggest scandal in recent history, much bigger than the lies about ObamaCare, but no one is going to talk about it, least of all libertarians who are happy that the business inputs cost less.

The incredible rebound in investment is on the backs of all this labor shed in the crisis, helped along by rock bottom interest rates for those who are first in line for the money: bankers and businesses.

So-called conservatism never looked so bad.