Against catastrophic outcomes, we have been pointing out how the people within the Biden administration are not incompetent; they know exactly what they are doing, and they are destroying the U.S. economic system on purpose. All of their economic damage is by design, it’s a feature – not a flaw.
An example today is so demonstrative of that point, it’s almost a parody. Joe Biden’s nominee for the Office of the Comptroller of the Currency (OCC), a branch of the Treasury Department that polices some 1,125 banks, is a communist ideologue named Saule Omarova. She is directly from communist central casting and literally from Kazakhstan in the former Soviet Union. Ms. Omarova graduated from Moscow State University in 1991, and Joe Biden nominated her for the OCC job in September.
Today, Ms. Omarova is caught on tape saying it is the intent of the Biden administration to use the treasury department to bankrupt oil, coal and natural gas companies. This is what happens often with avowed ideologues; they are so focused on their mission to destroy the U.S., they often just say the stuff out loud. WATCH:
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The FIRST STEP in defending against this onslaught is to stop excusing it by saying they don’t know what they are doing, or any version of the incompetency argument. They know exactly what they are doing.
The “producer price index” is essentially the tracking of wholesale prices at three stages: Origination (commodity), Intermediate and Final. The final product inflation rate in July (reported in August) was alarming at 7.8%. However, we warned of much higher flowing into the supply chain.
Wall Street Journal
A group of states including Louisiana and Texas along with businesses, religious groups and organizations filed their petition on Friday with the court. The Biden administration must reply to the court by 5:00pm Monday thereafter the court will decide if a permanent injunction is warranted.
That governmental system didn’t work in the long-term because the underlying principles driving free people rejected government authoritarianism. Fascist governments collapsed and the corporate beneficiaries were nulled and scorned. Then along came a new approach to achieve the same objective.