COVID Stimulus Spending Played ‘Sizable Role’ in Inflation

“”We find that excess inflation is significantly correlated to each country’s own domestic stimulus and to various exposures of foreign stimulus,” concluded a trio of economists at the St. Louis Federal Reserve in a report published last month. In the U.S., they found that “fiscal stimulus during the pandemic contributed to an increase in inflation of about 2.6 percentage points.”

That’s a significant increase, even if it doesn’t account for the full run-up of inflation that took place during the past 18 months. Price increases accelerated in late 2021 and throughout 2022, ultimately peaking at an annualized rate of 9.1 percent in June.

“Other recent reviews of COVID-era stimulus bills have come to a similar conclusion. In a paper published in September, economists at Johns Hopkins University and the Chicago Federal Reserve said “fiscal inflation” accounted for “approximately half” of the recent price increases.
That’s troubling, they added, because “fiscal inflation tends to be highly
persistent…When inflation has a fiscal nature, monetary policy alone may not provide an effective response.”

So far, the chief response to inflation has been a monetary one.””

Democrats Say They Support Green Energy. Why Do Their Policies Say Otherwise?

“Greater reliance on green energy also requires a stupendous increase in mineral extraction to provide the needed materials. Even if the world unquestionably possessed the mineral capacity necessary for the global energy transformation envisioned by President Joe Biden, Democrats in practice are enemies of mining. The U.S. Mining Association estimates that the country has $6.2 trillion of recoverable mineral resources like copper and zinc available for mining on millions of acres of federal, state, and private lands. Unfortunately, our labor, health, and climate regulations often make it practically impossible to profitably mine. As a result, these precious resources stay in the ground, which explains why the United States went from being the world’s No. 1 producer of minerals in 1990 to seventh place today.
Democrats committed to a green energy transition should make it a priority to reform counterproductive regulations like the National Environmental Policy Act (NEPA) and to implement other permitting reforms. Yet for the most part they won’t do so, as we saw when they helped strike down the permitting deal cut last year between Senate Majority Leader Chuck Schumer (D–N.Y.) and Sen. Joe Manchin (D–W.Va.).”

Getting Trump Was More Important to Some Journalists Than Getting the Story Right

“”The end of the long inquiry into whether Donald Trump was colluding with Russia came in July 2019, when Robert Mueller III, the special counsel, took seven, sometimes painful, hours to essentially say no,” former New York Times reporter Jeff Gerth writes at the beginning of his detailed analysis. His old employer was at the center of the frenzy and its editors still defend their efforts, he adds. “But outside of the Times’ own bubble, the damage to the credibility of the Times and its peers persists, three years on, and is likely to take on new energy as the nation faces yet another election season animated by antagonism toward the press. At its root was an undeclared war between an entrenched media, and a new kind of disruptive presidency, with its own hyperbolic version of the truth.””

“It’s really hard to get to any sort of truth if you bypass accuracy.
“My main conclusion is that journalism’s primary missions, informing the public and holding powerful interests accountable, have been undermined by the erosion of journalistic norms and the media’s own lack of transparency about its work,” Gerth writes in the afterword to his Russiagate post mortem. “One traditional journalistic standard that wasn’t always followed in the Trump-Russia coverage is the need to report facts that run counter to the prevailing narrative.””

Examining America’s War in Iraq After 20 Years

“The invasion eliminated a brutal dictator, something many Iraqis were grateful for in itself. But it also for years eliminated even the distant vision of that good life. As one Iraqi woman told journalist Nir Rosen for his 2010 book Aftermath: Following the Bloodshed of America’s Wars in the Muslim World, “My message to the American people after five years, they destroyed us and didn’t help us, they didn’t reconstruct the country, they even added more destruction to us. The days during Saddam were better. Now there is killing and nothing good. Before there was security and life was going on easily…now things are getting worse and worse, killing in the streets.” As late as 2016, 93 percent of polled young Iraqis considered Americans their enemies for a war that Bush and his team framed as their liberation.”

“The boys doing Bush’s foreign policy thinking had a prewar paper trail planning Saddam’s overthrow that stretched back a decade. It had become an article of neoconservative faith by the turn of the century that Bush’s father, President George H.W. Bush, should have deposed the Ba’athist dictator as the capper to the 1991 war that expelled his armies from Kuwait. In 2001, the Project for the New American Century (PNAC), full of folk who would forge W.’s foreign policy, made it clear that this grand plan was much larger than a single tyrant: It was about a “need for a substantial American force presence in the Gulf [that] transcends the…regime of Saddam Hussein.” The government’s official National Security Strategy for 2002, issued in the wake of the 9/11 attacks, incorporated PNAC’s thinking, pushing the principle that any country seen as credibly threatening U.S. interests should be brought to heel with hard military power, not just the softer stuff of cultural influence and diplomacy and trade.
Even before September 11, Bush Treasury Secretary Paul H. O’Neill would later report, one of the administration’s highest priorities was finding a way to topple Saddam. In the aftermath of the World Trade Center attacks, most any military act, no matter how severe or reckless, could be framed as an urgent fight against terrorism, even if not related to 9/11 itself. The prospect of Iraq possessing weapons of mass destruction (WMDs)—deploying them, selling them, maybe just handing them over to Osama bin Laden—was a bedtime story with terrifying potency for a rattled public. Newspaper publisher Knight Ridder reported as early as February 2002 that the White House was clandestinely planning to invade a nation that had nothing to do with 9/11.”

“The WMDs were not found. They were not there. Lt. Gen. James T. Conway, commander of the I Marine Expeditionary Force, gave it to us straight: Nothing was found to justify the war on its own terms. “It’s not for lack of trying,” Conway said in a May 30, 2003, Defense Department briefing from Baghdad. “We’ve been to virtually every ammunition supply point between the Kuwait border and Baghdad but they’re simply not there.”

The administration fell back on the argument that Saddam never gave up “aspirations and intentions” toward obtaining such weapons. (Of course, nothing would inspire him more to use them if he had them than invading his country to overthrow him. But not much was said about that.) Very thin accusations that Saddam had allied with or aided Al Qaeda before 9/11 were floated and similarly did not hold water.

As head of the Coalition Provisional Authority, L. Paul Bremer by then was essentially viceroy of Iraq; to flex how deeply we were obliterating the cause and memory of Saddam Hussein (who was executed in December 2006), Bremer disbanded the old Iraqi army and barred nearly all Ba’ath Party members from participation in government. Suddenly, hundreds of thousands of aggrieved and unemployed young men were stalking the country, and nearly anyone with experience running schools or hospitals or water treatment facilities or oil refineries or electrical plants weren’t allowed to work on any of those things.”

“After seven years of U.S. occupation, Rosen writes in Aftermath, “hundreds of thousands of Iraqis had been killed. Many more had been injured. There were millions of widows and orphans. Millions had fled their homes. Tens of thousands of Iraqi men had spent years in American prisons. The new Iraqi state was among the most corrupt in the world. It was often brutal. It failed to provide adequate services to its people, millions of whom were barely able to survive.””

“With negotiations complicated by Washington’s insistence that its troops must be able to act with complete legal impunity in Iraq, Bush, and later Obama, agreed to pull out all armed forces by the end of 2011. But with the rise of more militant chaos in the 2010s from the Islamic State group, American troops were back fighting throughout most of the 2010s. With that mission now officially over, about 2,500 troops still remain there, allegedly to merely assist and advise the Iraqis (who recently spent nearly a year trying to pull together a government, an effort marred by the usual factional rivalries, mass protests, arrests, and murders).”

“Beyond all the misery and chaos caused in Iraq itself, the U.S. came nowhere close to the neoconservative dream of a democratic domino effect in the Middle East. What resulted from the Iraq adventure was greater power and influence for America’s sworn enemy Iran, plus weapons and experienced jihadists and sectarian rivalries spreading around the region.

“Rather than being inspired by what happened in Iraq after the invasion,” former Middle Eastern CIA man Paul R. Pillar wrote in The National Interest in 2011, “Middle Easterners were repelled by it. If the violence, disorder, and breakdown of public services in Iraq were the birth pangs of a new Middle Eastern order, most people in the region wanted nothing of it.””

Ron DeSantis Wants $12 Million To Transport Migrants ‘From Any Point’ in the U.S.

“DeSantis. In his 2023–24 budget, announced on Wednesday, the governor requested $12 million to continue his “initiative to protect Floridians against the harms resulting from illegal immigration by facilitating the transport of unauthorized aliens.” The $12 million would be used “to cover all costs associated with facilitating the transport of inspected unauthorized aliens, including, but not limited to the costs of litigation.”
The request mirrors a provision in the 2022–23 budget that funded “a program to facilitate the transport of unauthorized aliens from this state consistent with federal law” (emphasis added). This time, DeSantis wants to transport migrants “from any point of origin in the U.S. to any jurisdiction.” Spending taxpayer money to protect Floridians, in other words, need not involve anything actually taking place in Florida.”

Florida’s War on Drag Targets Theater’s Liquor License

“Conservative government scolds in Florida are making good on a Christmas threat against an Orlando performance venue and are trying to revoke its liquor license because it let minors attend a bawdy drag show with their parents.
Florida’s Department of Business and Professional Regulation filed an administrative complaint Friday against the Orlando Philharmonic Plaza Foundation, which operates The Plaza Live theater in Orlando. In December, The Plaza Live hosted A Drag Queen Christmas, a touring stage show of risqué drag performances with holiday themes.”

“For naughty Christmas lyrics, the state is threatening a business’s liquor license. The complaint charges six counts of violating state indecency regulations, all based on allowing children to attend.

The scant photo evidence the state includes in the complaint further substantiates the claim that the war on drag queens is a politically driven moral panic. To the extent that the show is indeed sexual, as with any other form of entertainment with adult content, parents and venues are well-equipped to decide for themselves whether to bring their children. It’s not a role the state should be deciding, and in so many other cases, the state does not.

Despite making a big deal about supporting parents’ rights in education, Gov. Ron DeSantis does not think parents should have the right to decide what kind of entertainment their children should consume.”

Masks Make ‘Little or No Difference’ on COVID-19, Flu Rates: New Study

“The wearing of masks to prevent the spread of COVID-19 and other respiratory illnesses had almost no effect at the societal level, according to a rigorous new review of the available research.
“Interestingly, 12 trials in the review, ten in the community and two among healthcare workers, found that wearing masks in the community probably makes little or no difference to influenza-like or COVID-19-like illness transmission,” writes Tom Jefferson, a British epidemiologist and co-author of the Cochrane Library’s new report on masking trials. “Equally, the review found that masks had no effect on laboratory-confirmed influenza or SARS-CoV-2 outcomes. Five other trials showed no difference between one type of mask over another.”

That finding is significant, given how comprehensive Cochrane’s review was. The randomized control trials had hundreds of thousands of participants, and made useful comparisons: people who received masks—and, according to self-reporting, actually wore them—versus people who did not. Other studies that have tried to uncover the efficacy of mask requirements have tended to compare one municipality with another, without taking into account relevant differences between the groups. This was true of an infamous study of masking in Arizona schools conducted at the county level; the findings were cited by the Centers for Disease Control and Prevention (CDC) as reason to keep mask mandates in place.”

“While individual mask wearers might get some benefit for a while if they consistently, perfectly wear masks, this does not comport with the aggregate experience.”