Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Category Archives: Economics

Protests Growing Against De Blasio’s Vaccine “Passport” Mandate

This article appeared online at TheNewAmerican.com on Monday, September 20, 2021:  

Crowds estimated to be in the thousands protested on Saturday against New York City Mayor Bill de Blasio’s “passport” mandates he issued earlier this month. When he rolled out what he called “The Key to NYC,” he said his executive order “is going to motivate a lot of people to get vaccinated. It’s going to be a reason for people to get vaccinated.”

What his new mandate has done is motivate people to protest against it. On Monday, September 13, the day of the announcement, hundreds of current and former teachers — Teachers for Choice — gathered in Foley Square to condemn the mandate.

Said one retired teacher, Amy Carroll: “I have lived and worked in this city as a civil servant for 28 years of my life. I should be able to make my own health decisions and make a decision that doesn’t affect my employment, that doesn’t affect my right to go to a restaurant, or a Broadway play … or a museum.”

The Key to NYC requires the following establishments to confirm that their customers and visitors are vaccinated, or face fines starting at $1,000 and increasing to $5,000 for repeat offenders:

• Movie theaters

• Live music and concert venues

• Museums and galleries

• Aquariums and zoos

• Professional sports stadiums and arenas

• Convention centers

• Exhibition halls

• Performing arts theaters

• Bowling alleys

• Recreational game center, arcades, and pool and billiard halls

• Casinos and adult entertainment venues

• Restaurants and bars

• Catering halls and event spaces

• Hotel banquet rooms

• Cabarets and nightclubs

• Cafeterias

• Grocery stores with indoor dining

• Bakeries and coffee shops

• Fast food and quick service eateries with indoor dining

• Gyms and fitness centers, and fitness class venues

• Pools

• Dance studios and sports classes

In other words, “The Key to NYC” locks up tight virtually every conceivable business open to the public to anyone who isn’t vaccinated.

On Wednesday, another protest took place at the mayor’s mansion, which was followed up by another one on Saturday, organized by the New York City Freedom Rally. It’s a chapter of the Worldwide Demonstration campaign and was organized by Eric Grassi.

Said Grassi:

We’re banding together to stop this. This movement is growing rapidly because the fire departments, the teachers’ unions, our troops, the hospital workers — none of these people want this injection.

 

They know what’s in it. It’s causing tremendous death and devastation across the world.

 

The injection of children is an absolute criminal act — a capital crime.

 

Plus, the vaccination programs are driving new forms … driving and developing new forms of the disease.

Vaccine mandates are violating medical ethics and individual rights, said Grassi:

We must stop and end all vaccine mandates. They are overthrowing medical ethics, which allows the individual to decide if they want medical treatment.

 

This is an absolute violation of our fundamental rights.

And the impact on businesses in New York has been massive:

They shut down and devastated New York for no reason. They just wrecked the city. They drove thousands of businesses out of business … they just ruined hundreds of thousands of jobs.

 

They closed whole sectors of the city’s economy permanently. They close half the bars and restaurants in New York permanently. The economy of New York is a shadow of its former self.

So far, these protests are directed at de Blasio’s “The Key to NYC” mandate and have involved a few thousand people. But from such beginnings large movements often grow. The Worldwide Demonstration website claims there were protests in India and France and elsewhere, all protesting vaccine mandates.

As de Blasio’s “The Key to NYC” mandate is enforced, the pushback against it is likely to grow. Finally, it appears people are getting tired of being pushed around and dictated to.

Social Security a “Shell Game, There Is No Money in the Trust Funds” Says Head of Accounting Think Tank

This article was published by TheNewAmerican.com on Friday, September 3, 2021:  

Sheila Weinberg, the founder of the non-partisan think tank Truth in Accounting (TIA), spoke the truth. In an interview with the Epoch Times on Thursday she said, “Our bottom line is the [Social Security] trust funds are all a shell game; there is no money in the trust funds.”

What resides in those trust funds for Social Security and Medicare are debt securities. The “premiums” workers have been paying in are immediately spent to fund the government, but to keep the scam from blowing up, the Treasury Department issues IOUs to the Social Security Administration — promises to redeem them at some undetermined time in the future.

These are not assets. They are liabilities.

Weinberg, who founded Truth in Accounting (TIA) 20 years ago, explains that “the federal debt [estimated currently at $28 trillion] only tells us what the government owes the public. It doesn’t take into account what’s owed to seniors, veterans and retired [government] employees.”

According to TIA, the real federal deficit exceeds $133 trillion, reflecting the unfunded and unaccounted shortfalls of $41 trillion in Social Security promises and $55 trillion in unfunded Medicare promises. The balance includes publicly held debt, pension and retiree healthcare liabilities, and other liabilities.

The report from the Board of Trustees of the trust funds collecting and paying out Social Security and Medicare benefits that was released on Tuesday said that, thanks to COVID and the related economic shutdown, those funds will be exhausted sooner than expected. But they were hopeful that Congress would come to the rescue by “increasing revenue from workers and employers … and lowering benefits for some or all beneficiaries.”

U.S. Senator Mike Crapo (R-Idaho), ranking member of the Senate Finance Committee, said that report “once again identifies unsustainable benefit promises.… The Hospital Insurance trust fund is projected to be exhausted around 2026.”

But there’s little chance, says Crapo, of Congress taking up the issue:

While bipartisan efforts are necessary to make needed changes to address Medicare and Social Security’s long-term financial challenges, most Democrats want only to expand benefit promises further.

These welfare-state programs cannot be fixed. They can be kept from failing, but fundamentally they are flawed. In 1997, Congress, at the last minute, rescued them from extinction by making some surface changes: raising taxes and delaying the payment of benefits. “Since then,” said Heritage Foundation Senior Fellow Doug Badger, “there has been very little interest among leaders of either party in entitlement reform. Until that changes, politicians will continue to promise benefits that the government can’t deliver.”

At bottom, the scheme is a tool of the devil, wrote Michael Rozeff:

When we call upon the state and its power to do what we should be doing, we unleash destructive forces that wreck society….

 

Abandoning responsibility in favor of the state uncorks a bottle with an evil genie: the power and domination genie.

 

Call it a devil or Satan … because that is what it is.

Indeed, the concept of government-funded social security violates both the Eighth and the 10th Commandments: 8) Thou Shalt Not Steal; and 10) Thou Shalt Not Covet. As Gary North noted in his book Inherit the Earth, “The [Eighth Commandment] doesn’t say ‘You shall not steal, except by majority rule.’”

Rozeff claims that Social Security is not only fundamentally dishonest (like a Ponzi Scheme that pays benefits to one generation with funds extracted from an earlier one), but it also forces individuals to lose some of their essential humanity:

If we ask Congress to extract 15 percent of everyone’s pay and transfer it to people over a certain age, we abandon all of this which is so essentially human.

 

We abandon all good sense, which includes the exercise of our moral senses of worth and judgment….

 

This is what Social Security is: both irresponsible and inhumane. It is a program by which we abandon central human capacities and resort to brute force and arbitrary rules as substitutes.

Social Security cannot be “fixed.” Its ultimate demise can be delayed, usually at the last possible moment by an act of Congress, but its fundamental flaw — taking money from some who earned it and giving it to others who didn’t — remains.

Acclaimed Yale Economist Shiller Declares U.S. Housing Market in a Bubble, Warns of Eventual Collapse

This article was published by TheNewAmerican.com on Friday, May 28, 2021:  

Robert Shiller, the Yale economist and inventor of the Case-Shiller Index, told Yahoo Finance Alive on Wednesday that the U.S. housing market has “aspects of a bubble to it.”

Shiller added:

This is not a market that collapses overnight … but you can see that we’re seeing price increases now that haven’t [been seen] since those years just before the [2008] financial crisis.

The Case-Shiller Index — now called the S&P CoreLogic Case-Shiller National Home Price Index — released on Tuesday showed that prices for the average home in the United States rose more than 13 percent since last April. Three major cities — Phoenix, San Diego, and Seattle — led the way, with annual gains of 20 percent, 19.1 percent, and 18.3 percent, respectively. Home prices in all 20 cities included in the index increased as well.

The reasons behind a housing-market bubble include:

Keep reading…

Trump’s Reelection Chances Increasing as Biden Economy Slipping

This article was published by TheNewAmerican.com on Tuesday, May 25, 2021: 

The latest Gallup poll reveals what most Americans already know: Confidence in the Biden economy is slipping. Just a third of Americans are “satisfied with the way things are going in the U.S.,” reported the pollster on Monday. Its Economic Confidence Index (ECI) went negative in May as well.

Under Trump, the pollster’s ECI was a robust +41 in February 2020, the month before the COVID-19 pandemic hit. It fell precipitously in May 2020 to a -33, and has struggled to recover ever since.

Gallup reported further that only 27 percent of Americans rate current economic conditions as “excellent” or “good,” while 30 percent rate them as “poor.” Forty-three percent say the economy is getting better, while 53 percent say it is getting worse.

The Bureau of Labor Statistics (BLS) reported earlier this month that

Keep reading…

DHS Waives Antiquated Law Slowing Recovery From Colonial Pipeline Shutdown

This article was published by TheNewAmerican.com on Friday, May 14, 2021:  

A hundred-year-old law designed to strengthen the United States is serving to weaken it.

The waiver of the Jones Act — passed in 1920 — by the Department of Homeland Security (DHS) on Wednesday proves the point. DHS Secretary Alejandro Mayorkas stated:

Keep reading…

The Fed Lies. Inflation Is Here and It’s Going to Get Worse, Not Better

This article was published by TheNewAmerican.com on Monday, May 10, 2021:  

In its Beige Book, a summary of the U.S. economy published eight times a year and largely based on anecdotal evidence, the Federal Reserve claims that recent price increases are “partly attributed to ongoing supply chain disruptions, temporarily exacerbated in some cases by winter weather events.”

Its authors are lying.

Keep reading…

Jobs Report Disappoints, but Stocks Rise

This article was published by TheNewAmerican.com on Friday, May 7, 2021:  

In normal times, Wall Street would greet a jobs report such as that just issued Friday morning by the Labor Department with a sharp decline in stock prices.

But these are hardly normal times. With massive government subsidies, spending, and the extension of unemployment benefits, what’s left of the free market in labor can hardly be seen. Instead of declining, stocks rose.

The Labor Department reported that

Keep reading…

Economic Growth Continues, But It Won’t Last Forever

This article was first published at TheNewAmerican.com on Monday, May 3, 2021: 

The melt-up in stock prices — increasingly being driven by the stampede of new investors operating out of fear of missing out (FOMO) — is breathtaking. The most commonly used indicator, the Standard & Poor’s 500 Index, has jumped more than 80 percent since its low last March.

Stockholdings among U.S. households have increased to 41 percent of their total financial assets in April, the highest level in history going back to 1952.

The rebound from the pandemic lows is historic:

Keep reading…

“Hero Pay” Mandates Are Putting “Heroes” Out of Work

This article was published on Monday, April 19, 2021 at TheNewAmerican.com:  

Thanks to “hero pay” or “hazardous duty pay” mandates passed by politicians suffering from hubris, ignorance, and socialist ideology, grocery giant Kroger closed two of its stores in Long Beach, California, on Saturday. In its announcement, the chain said:

Keep reading…

Don’t Believe China’s Growth Numbers

This article first appeared at TheNewAmerican.com on Friday, April 16, 2021:  

On Friday, April 16, journalists for the New York Times and Forbes magazine exulted over the report from China’s Communist Party reporting agency, the National Bureau of Statistics of China (NBSC). Written in the CCP’s usual stilted style, the report read, in part:

Under the strong leadership of the Communist Party of China (CPC) Central Committee, with Comrade Xi Jinping at its core, all regions and departments conscientiously carried out the decisions and arrangements made by the CPC….

 

As a result, the economy delivered a stable performance….

 

Production demand was expanded, market vitality was enhanced, employment and prices were stable, and people’s well-being was strongly guaranteed.

 

The national economy made a good start.

In their coverage,

Keep reading…

White House: No Inflation Threat, Yet

This article was first published by TheNewAmerican.com on Wednesday, April 14, 2021:  

To address increasing concerns that the $5 trillion-plus in new money being poured into the economy by the government will raise prices, the White House called together a group of Keynesian [read: interventionist] economists to sort things out. Their conclusion? Nothing to worry about here; move along.

Specifically, they created various models based upon different assumptions in an attempt to discover any “hint” of inflation. “It never appeared,” said the New York Times. Added the establishment mouthpiece:

Keep reading…

Biden’s “American Jobs Plan” Unlikely to Pass the Senate

This article was first published by TheNewAmerican.com on Friday, April 9, 2021:  

Joe Biden’s “American Jobs Plan” — a costly boondoggle that is more grift than substance — is going nowhere, for several reasons. First, the latest study of his so-called infrastructure bill by the National Association of Manufacturers (NAM) shows that instead of increasing employment, if passed the bill would not only reduce employment but slow the economy and reduce wages as well.

It would do everything possible to slow the economy:

Keep reading…

Economy Ignores Biden, Surges Into the New Year

This article was first published by TheNewAmerican.com on Good Friday, April 2, 2021: 

The jobs report for March from the Bureau of Labor Statistics (BLS) on Good Friday surprised even the most optimistic of forecasters: The surging U.S. economy added 916,000 new jobs in March versus the 635,000 that were expected.

That pushed the unemployment rate down to six percent, closing in on the record lows seen during the Trump administration.

So far U.S. employers have added back nearly 14 million jobs of the 22 million that were lost due to the COVID shutdown. If the economy continues its torrid pace,

Keep reading…

These Are “Dangerous Times” for Wall Street, Says Veteran Investor

This article was published by  TheNewAmerican.com on Friday, February 12, 2021:  

David Rosenberg, 36-year Wall Street veteran and founder of Rosenberg Analysis, said “From my lens we … have a market … that appears egregiously overpriced, overbought and overextended.” When he spoke those words the cyclically adjusted price-to-earnings ratio (CAPE) was at 32.44.

That was in November.

Today the CAPE is closing in on 36. The metric is used by Rosenberg and other Wall Street seers to determine whether the market is overvalued or not. As Investopedia reminded its readers:

Keep reading…

Could a Coming Stock-market Crash Burst Biden’s Bubble?

This article was published at TheNewAmerican.com on Sunday, January 31, 2021:

Jeremy Grantham, chief investment strategist at Grantham, Mayo, & van Otterloo (GMO), has seen it coming for months: the implosion of one of the greatest stock-market bubbles in history.

On January 5 he wrote, “The long, long bull market [in stocks] since 2009 has finally matured into a full-fledged epic bubble. Featuring extreme overvaluation, explosive price increases, frenzied issuance [of new shares of stock by existing companies], and hysterically speculative investor behavior, I believe this event will be recorded as one of the great bubbles of financial history.”

The rebound from the COVID-driven economic shutdown has exceeded all reasonable bounds, wrote Grantham:

Keep reading…

Will Democrats Turn America Into Venezuela?

This article first appeared at TheNewAmerican.com on Friday, January 29, 2021:

The New York Times wrote in November that Marxist dictator Nicolas Maduro “has left the shrinking Venezuelan economy comparable to that of the Democratic Republic of the Congo.… The country now has the highest poverty rate in Latin America, overtaking Haiti this year.”

It took just 10 years to accomplish the feat: “Just a decade ago [Venezuela] rivaled the United States for regional influence.” Now, thousands of citizens who used to work for PDVSA, the state-owned oil company, “have been reduced to dismantling [the company’s] oil facilities for scrap metal and selling their distinctive overalls, emblazoned with the company logo, to make ends meet.”

Ten years for socialist policies implemented by Maduro to reduce South America’s most prosperous country to Third World status. Can Democrats accomplish the same feat here in the United States, in less time?

With few barriers remaining, Democrats are relishing the opportunity to try. And they have a nearly perfect roadmap to follow:

Keep reading…

Newsmax Viewership Gains Force Fox News to Reshuffle Its Programming

This article appeared online at TheNewAmerican.com on Tuesday, January 12, 2021: 

Thanks to enormous gains at Newsmax, specifically gains of viewership of Greg Kelly’s “Greg Kelly Reports” seen during the critical evening hour, Fox News has been forced to reshuffle its programming. This is the first such change for Fox since 2017.

The biggest change is that, starting Monday, September 18, Martha MacCallum’s “The Story” will move to a mid-afternoon slot. It will be replaced by what Fox News calls “a rotating group of FOX News opinion hosts … entitled [sic] ‘FOX News Primetime’.” A permanent host for the new program will be named sometime in the future, depending on how the new show’s anchors perform in light of the surging competition from Newsmax.

And that competition is fierce.

Keep reading…

Former Goldman Sachs Chief: New Yorkers Will “Feel Like Supermen” After COVID Vaccine

This article appeared online at TheNewAmerican.com on Wednesday, December 2, 2020: 

Connecting online from his posh Long Island estate earlier this week, former Goldman Sachs CEO Lloyd Blankfein offered a message of hope at a gathering of wealthy Jews. He told the audience attending the annual benefit for the UJA-Federation of New York, a Jewish philanthropy, “Next year we’ll all be back at the Hilton, vaccinated, feeling like supermen and superwomen, squeezed in, talking six inches apart and probably wishing we were back on Zoom!”

In a nearly total disconnect from reality, Blankfein thinks that once everyone is vaccinated, all will be well and folks can get on with their lives as if nothing untoward happened in 2020.

Evidence to the contrary exists everywhere.

Keep reading…

People Continue to Leave California in Droves

This article appeared online at TheNewAmerican.com on Monday, November 30, 2020:

When Ben Shapiro, founder of the Los Angeles-based conservative website Daily Wire, announced in September that he and his company were leaving for Nashville, he made a noisy exit. He wrote:

We’re leaving because all the benefits of California have steadily eroded — and then suddenly collapsed….

 

All the costs of California have steadily increased — and then suddenly skyrocketed….

 

Nearly every public space in Los Angeles has become a repository for open waste, needles and trash….

 

Looters were allowed free reign … during the Black Lives Matter riots….

 

To combat these trends, local and state governments have gamed the statistics, reclassifying offenses and letting prisoners go free.… In July, the city of Los Angeles slashed police funding, cutting the force to its lowest levels in over a decade….

 

California’s top marginal income tax rate is now 13.3%; legislators what to raise it to 16.8%….

 

California has the worst regulatory climate in America….

 

The state legislature is dominated by Democrats. California is not on a trajectory toward recovery; it is on a trajectory toward oblivion. Taxpayers are moving out — now including my family and my company. In 2019, before the pandemic and the widespread rioting and looting, outmigration jumped 38%, rising for the seventh straight year. That number will increase again this year.

 

I want my kids to grow up sate. I want them to grow up in a community with a future, with more freedom and safety that I grew up with.

 

California makes that impossible. So, goodbye, Golden State. Thanks for the memories.

Shapiro took nearly all of his company’s 75 employees with him. And they’re not alone. In July, Joe Rogan, host of The Joe Rogan Experience, announced he was moving to Texas, citing the need for “a little more freedom” and decrying “the traffic … the economic despair … [and] the homelessness problem that’s accelerated radically” in Los Angeles over the last decade.

A locally prominent developer, Paul Petrovich, is headed for

Keep reading…

Senate Temporarily Blocks Confirmation of Gold Advocate to the Federal Reserve

This article appeared online at TheNewAmerican.com on Wednesday, November 18, 2020: 

When Senate Majority Leader Mitch McConnell realized that he couldn’t get enough votes to break the filibuster of Judy Shelton’s nomination to the Federal Reserve Board on Tuesday, he changed his vote to “no.” That gives him a procedural opportunity to bring her nomination back to the floor once the three Republican senators who were missing (two due to COVID, one due to a family emergency) are back in Washington.

The confirmation hearing will likely continue the week after Thanksgiving, and will also likely result in the confirmation of Shelton to fill a vacancy on the board.

So, why the filibuster?

Keep reading…

Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.
Copyright © 2021 Bob Adelmann