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May 2022

The Economic Doom Loop Has Begun No communist was ever as dedicated to economic suicide as the current class of idiots who rule us. By Adam Mill

https://amgreatness.com/2022/05/23/the-economic-doom-loop-has-begun/

High inflation, overregulation, and a general sense that things are going in the wrong direction remind us of the late 1970s and early ’80s. But today the underlying problems that were responsible for our woes in that time are vastly worse. The coming reckoning for Washington’s insanely irresponsible monetary policy may dwarf the troubles from all recent recessions and periods of inflation. 

The Federal Reserve has created a doom loop between the housing market and inflation. For years it has printed tens of billions of dollars each month to buy sketchy securities meant to subsidize the housing market and favor bond traders. This continues even now, in spite of inflation and a red-hot housing market. But the housing market has become dependent on unearned, newly printed money, and stopping the flow might cause a catastrophic correction. If it doesn’t stop, however, inflation will explode. 

Let me walk you through some of the math.

Inflation closes the gap between money earned and money spent. Since the financial crisis of 2008, the Federal Reserve expanded M2 money supply from just under $8 trillion to around $22 trillion today. During that time GDP has increased from around $14.6 trillion to around $24.5 trillion today. We’ve gone from a ratio of one dollar chasing $2.20 in goods in services to an almost 1 to 1 ratio today. Inflation during the same period, according to the government, has eroded the dollar by a mere 33 percent. 

You think 8 percent inflation is high? Prices need to double to restore any semblance of balance between currency and the things you can buy with currency. We have a long way to go.

The Real Reason Why The Disinformation Governance Board Got Cancelled: I&I/TIPP Poll Terry Jones

https://issuesinsights.com/2022/05/25/the-real-reason-why-the-disinformation-governance-board-got-cancelled-ii-tipp-poll/

Why did the Joe Biden administration abruptly shut down its Disinformation Governance Board a mere three weeks after creating it? The latest I&I/TIPP Poll has the answer.

As the administration’s plan for creating the Orwellian-sounding speech regulator was being rolled out, the I&I/TIPP Poll asked 1,320 Americans from May 4 to May 6 a simple question: “How much do you trust the Disinformation Governance Board to decide what is disinformation fairly and accurately?”

Among the 550 who said they were following the Disinformation Board “closely,” the reaction was strong: 55% said they had “little trust” (22%) or “no trust at all” (32%). That compares with 42% who said they had “a lot of trust” (19%) and “quite a bit of trust” (22%).

In short, it was a highly unpopular idea. Indeed, it was more unpopular than even the overall numbers suggest.

The only major political grouping that trusted the Disinformation board was the Democratic Party. They gave it a big thumbs up in the poll, with 73% giving it “a lot” or “quite a bit” of trust, versus just 23% granting the new agency “little” or “no” trust.

National Security Crisis: Russia’s and China’s Nuclear Threats by Judith Bergman

https://www.gatestoneinstitute.org/18535/russia-china-nuclear-threats

Russia has not only been modernizing its nuclear triad; it has also been developing new types of nuclear systems….

Russia, of course, is not the only nuclear threat to the United States. China has accelerated its nuclear buildup to the extent that Admiral Charles Richard, Commander of U.S. Strategic Command told the Senate Armed Services Committee last April, “For the first time in our history, the nation is on a trajectory to face two nuclear-capable, strategic peer adversaries at the same time, who must be deterred differently. We can no longer assume the risk of strategic deterrence failure in conflict will always remain low.”

The Minuteman III ICBMs are badly in need of modernization — they were built in the 1970s and were originally intended to last for just 10 years. The development of a next-generation ICBM, known as the Ground Based Strategic Deterrent (GBSD) has been decided, but the process has proven slow and the Air Force only expects the GBSD to begin replacing Minuteman III in 2029. According to General John Hyten, Vice Chairman of the Joint Chiefs of Staff, the GBSD system will not achieve initial operational capability until 2030, or full operational capability until 2035.

“It’s going to take us 10 to 15 years to modernize 400 [ICBM] silos that already exist. China is basically building almost that many overnight.” — General John Hyten, Vice Chairman of the Joint Chiefs of Staff, National Defense Magazine, regarding the Ground Based Strategic Deterrent program, September 13, 2021.

The Minuteman III has grave structural problems stemming from the fact that “the missile itself is 51 years old,” but the launch capsules and other support facilities are “58 years old.” — Col. Erik Quigley, director of the Minuteman III systems directorate, Air Force Magazine, June 14 2021.

In the 2018 Nuclear Posture Review, the Trump administration decided that a new Nuclear-Armed Sea-Launched Cruise Missile (known as the SLCM-N)…. needed to be added to the US nuclear arsenal to provide the US with “a needed non-strategic regional presence” that would address “the increasing need for flexible and low-yield options.” The Biden administration, however, removed it from the FY2023 budget, while several generals have disagreed with that decision, arguing that it is needed against Russia and China.

“The Trump Administration proposed the SLCM-N in 2018. Message to Mr. Putin: If you drop a nuke on NATO soil, the alliance has the will and ability to respond in kind. This reduces the risk Mr. Putin will use a nuke,” the WSJ wrote in April. “The Trump Administration said the U.S. might reconsider the SLCM-N if ‘Russia returns to compliance with its arms control obligations, reduces its non-strategic nuclear arsenal, and corrects its other destabilizing behaviors.’ How’s that working out? Now Mr. Biden is surrendering this leverage—probably to placate progressives who are opposed to nuclear weapons as an article of faith.” — Wall Street Journal editorial, April 20, 2022.

Russia’s war on Ukraine has brought renewed attention to Russia’s nuclear arsenal and the risk of nuclear war, especially after Russian President Vladimir Putin placed his country’s nuclear forces on high alert shortly after invading Ukraine on February 24. Close to half of Americans are very concerned that Russia would directly target the U.S. with nuclear weapons, and an additional 3 in 10 are somewhat concerned about that, according to a recent poll from the Associated Press-NORC Center for Public Affairs Research.