Friday, February 25, 2022

Why Democrats deserve to lose

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No one has more reason to be shocked by the results of last week’s San Francisco recall election than the three school-board members whom voters threw over the side. The vote totals to kick them off the progressive island were 72%, 75% and 79%.

Commentaries by Democrats are now emerging to argue the party will be wiped out in November’s midterm elections unless its candidates distance themselves from the progressives. As a long-ago boss of mine might have said as he prowled the loading dock: These Democrats are a day late and a dollar short.

With readers’ indulgence, I’d like to play the devil’s advocate for the three card-carrying San Francisco progressives. Across the whole landscape of American politics the past five years and more, what evidence has there been that influential Democrats were willing to break with the party’s left? Nearly none.

Take cancel culture. The destruction of careers, businesses and reputations for giving offense to the new woke orthodoxies has been running for at least eight years. It is one of the worst phenomena the American left has ever produced, not least in San Francisco.

Two years ago, a respected senior curator of American art at the San Francisco Museum of Modern Art was forced out for saying something vaguely favorable about “white artists.” An internal museum-staff petition said his removal “is nonnegotiable.” His colleagues around the art world pulled the curtains and said nothing.


Recall last year’s firing of the docents at the Chicago Art Institute for racial reasons. As the late Bob Dole once asked, where was the liberal outrage? How did the default become that only conservatives called out this stuff?

Why shouldn’t the three San Francisco school-board members have thought that erasing the names of Abraham Lincoln or George Washington would be no problem when simultaneously monuments to “racist” presidents and other Americans were torn down all over the country with little liberal resistance, or even with assent?

Presumably the San Francisco school-board members watched or attended the Democratic National Convention in August 2020, where no speaker—not any of the presumed “moderates”—tried to separate the urban protests in May over George Floyd from the store lootings and pitched battles with police.

Defund the police and progressive prosecutors aren’t Republican-concocted “messaging” issues. Where were the liberal critiques arguing for a more common-sense balance between decriminalization and the police function? By the way, those 70%-plus vote totals happened inside the context of San Franciscans living in a city occupied by shoplifters and street people.

Why shouldn’t the San Francisco school-board members have thought they could ignore objecting parents? President Biden himself had their backs. When parents in Loudoun County, Va., noisily objected to their school board imposing progressive racial theories on curriculums, Attorney General Merrick Garland’s Department of Justice sicced the FBI on them.

But here’s the fun part: No Democrat, including the party’s new critics, dissents from the notion that their common cause is protecting “our democracy.” Nancy Pelosi on ABC: “Nothing less is at stake than our democracy.” Alexandria Ocasio-Cortez to the New Yorker magazine: “What we risk is having a government that perhaps postures as a democracy, and may try to pretend that it is, but isn’t.”

This is almost wholly about Donald Trump’s clinical obsession that the 2020 election was “rigged.” If that’s the Democratic Party’s unifier, then by all means they should ride the Trump voting-fraud horse until it drops.

History may thank former Twitter CEO Jack Dorsey for pulling the plug on the Trump Twitter account. With Mr. Trump’s post-midnight tweets no longer blotting out the U.S. political sun, Democrats have to stand before voters with their own policies and behavior. The recall vote in San Francisco was a portent, summed up in this remark to the Washington Post by a recall organizer:

“I’ve always thought of myself as a progressive—until now, recently, when I’m looking at this situation,” said Siva Raj. “I’m shocked—like, how can progressives be for something like this? This is not me. These are not the values that I buy anymore.”

Democratic self-reflection after the startling schools defeat in San Francisco and Glenn Youngkin’s gubernatorial win in Virginia may reflect the natural ebb and flow of American politics. But it isn’t enough.

The progressive problem is deeper than the Democratic Party’s loss of independents. The left achieved a fundamental ideological transformation that has gone unanswered by liberals for years, starting in the universities. Liberal academics who spoke out were censured by administrators and shunned by colleagues.

Then when novel ideas about identity, race and gender—now being criticized as a liability because they alienate non-base voters—marched toward the country’s cultural and corporate institutions, liberals held the doors open. Coercion had become king.

A midcourse November correction won’t change that. Only a resounding midterm defeat will force a necessary revision of these destructive ideas. The Democrats deserve to lose. They’ve earned it.

Write henninger@wsj.com.

Thursday, February 24, 2022

Capitalism does solve our problems

 capitalism offers solutions to all of those challenges. The largest reductions in carbon emissions have come from natural gas, thanks to the market innovation of shale fracking. Competitive labor markets have helped minorities rise despite residual racism because bigotry is too expensive. The wealth created by free markets and innovation, along with global trade, has lifted billions out of poverty. Extreme global poverty has plunged to less than 10% from 45% in 1980 while world GDP has more than tripled.

We now have fast broadband and smartphones that connect with others anywhere, anytime; 24-hour home delivery of almost anything we want; breakthrough medical treatments and vaccines; genetically engineered crops that have increased farm yields and global nutrition; cheap energy thanks to an oil and gas shale boom; and a rising standard of living for most of the world. Socialism didn’t build that.


 Yet if they had been paying attention in recent years, they might have noticed that “free-market fundamentalism” could have spared the U.S. from some terrible mistakes.

For example, when government pays people not to work, many don’t work. When government increases taxes and regulation, output declines. And when government floods the economy with money, inflation breaks out. Is 7.5% inflation helping “wealth inequality”?

Printing Money Causes Inflation.

 

Jerome Powell Is Wrong. Printing Money Causes Inflation.

The Fed chairman insists the growth of M2 doesn’t ‘have important implications.’ The math shows otherwise.

Federal Reserve Chairman Jerome Powell still believes that inflation and the money supply are unconnected. He first made this remarkable assertion in his Semiannual Monetary Policy Report to Congress last February, saying that “the growth of M2 . . . doesn’t really have important implications for the economic outlook.” Since then, the U.S. annual inflation rate has climbed to 7.5% from 1.7%, but Mr. Powell hasn’t changed his mind. He doubled down during congressional testimony in December, arguing that the connection between money and inflation ended about 40 years ago. The nearby chart shows otherwise.

By turning a blind eye to money, the Fed has allowed the printing presses to run in overdrive. The money supply as measured by M2, which is the Fed’s broadest measure of money in the economy, has been growing at record rates—with 39.9% cumulative growth since February 2020. M2 is still growing at an elevated, inflationary rate of 12.6% a year. Before the pandemic, you’d have to go back to the early 1980s to find a monetary growth rate this high.

One of us, Mr. Hanke, predicted in these pages last July that year-end inflation for 2021 would “be at least 6% and possibly as high as 9%.” That was based on the quantity theory of money, which economic thinkers have used since the Renaissance. The theory rests on a simple identity, the equation of exchange, which demonstrates the link between the money supply and inflation: MV=Py, where M is the money supply, V is the velocity of money (the speed at which it circulates relative to the money supply), P is the price level, and y is real gross domestic product. So, the quantity theory of money provides the link between money and inflation.

If Mr. Powell is right and all that is outdated thinking, then when looking back through economic data, the equation of exchange shouldn’t be able to predict prices. But look at the chart. When we took the past 60 years of economic data and the rate-of-change form of the identity we explained above, it predicted price changes almost perfectly. Our estimate deviated from actual inflation only during 2020, as the money supply grew at unprecedented rates and lockdowns stanched real growth. By June 2021, our estimate for inflation based on the quantity theory of money had reverted back to its conjunction with actual inflation.

It’s time for Mr. Powell and his colleagues at the Fed to realize that money matters.

Mr. Hanke is a professor of applied economics at Johns Hopkins University. Mr. Hanlon is chief of staff at the Johns Hopkins Institute for Applied Economics, Global Health and the Study of Business Enterprise.

Wednesday, February 16, 2022

Why 1/3 of Blacks are rejecting the pandering Democrats, whose policies HURT Blacks.

 Why 1/3 of Blacks are rejecting the pandering Democrats, whose policies HURT Blacks.


"As Black Voters Sour on Biden, Will They Abandon the Democrats?
Their decades-long loyalty to the party was already beginning to show signs of becoming weaker.

By Jason L. Riley WSJournal op-ed

Feb. 15, 2022 7:07 pm ET
“Why Joe Biden Is Bleeding Black Support” was the headline of a New York magazine article in late January. Not whether, but why. And if the polling since then is indicative, the hemorrhaging continues.

Blacks have been throwing some 80% of their support to Democrats since the late 1960s. Since President Obama left office, however, the party’s grip on this key voting bloc has loosened somewhat. Hillary Clinton’s underperformance among blacks in such swing states as Pennsylvania probably cost her the presidency in 2016, when people in heavily black neighborhoods voted more Republican than they did in 2012.

Democrats normally don’t worry about blacks voting Republican. They just worry about blacks not voting at all. That, too, may be changing. Black voter turnout in 2018 was the highest on record for a midterm election. Yet New York magazine reports that in the House races that year, “Democrats actually won a smaller share of the African American vote than they had in the 2016 presidential election—even as the party’s overall popular-vote edge in the midterm was five points higher than Hillary Clinton’s two years earlier.”

Joe Biden won 92% of black voters in 2020, no doubt benefiting from having been Mr. Obama’s vice president, but it’s been all downhill since then. The president’s job-approval rating among all voters has fallen, but among blacks it has been cratering. An NBC News poll last month found that black support for the president, which stood at 83% last April, had dropped to 64%. A Quinnipiac survey released around the same time showed a 22-point decline in black support for Mr. Biden during his first year in office. And a CNN poll from last week puts black approval of the president’s job performance at just 69%. Democrats know they can’t win elections without much higher levels of black support.

Mr. Biden has been doing what Democrats normally do to buck up black support. He’s resorting to identity politics. He’s promised to nominate a black woman to the Supreme Court. He supports legislation that would address imaginary voter suppression. He wants to expand the welfare state. If, as the recent polling suggests, this sort of racial pandering no longer works like it used to, America’s making some progress.

The country has witnessed a lot of political norm-breaking in the Donald Trump era. Less black fealty for the Democratic Party could be part of the trend. It’s easy to forget how bad things were for blacks economically during the Obama presidency. Black unemployment didn’t fall below double digits until the third year of Mr. Obama’s second term. Prior to the pandemic, black unemployment under Mr. Trump reached record lows, and black wages rose at a faster rate than white wages. Mr. Obama symbolized racial progress, but you can’t pay the rent with symbolism.

That black experience partly explains why minority support for Mr. Trump ticked up in 2020. It might also explain why blacks have soured on Mr. Biden. Inflation, which the current administration first denied and then played down, is at a 40-year high. Blacks are overrepresented among low-income workers, who are watching prices rise faster than their wages. In addition, the president wants to raise the taxes that Mr. Trump cut and reregulate sectors of the economy that Mr. Trump deregulated. If black voters aren’t eager to return to the pre-Trump economy, who can blame them?"

Sunday, February 13, 2022

CRT wants to wipe away punctuality, urgency, niceness, worship of the written word, progress, objectivity, rigor, individualism, capitalism and liberalism

 What's a stake with Critical Race Theory? It is trying to wipe away Western Civilization.

"Inside the Woke Indoctrination Machine
After watching 100 hours of leaked video, we now fully grasp the danger of this ideology in schools...Over the past month we have watched nearly 100 hours of leaked videos from 108 workshops held virtually last year for the National Association of Independent Schools’ People of Color Conference. The NAIS sets standards for more than 1,600 independent schools in the U.S., driving their missions and influencing many school policies. The conference is NAIS’s flagship annual event for disseminating DEI practices, (Diversity, Equity, Inclusion) ...The goal is to remake society into a collective, stripped of individualism and rife with reparations.
In sessions such as “Traversing the Long and Thorny Road Toward Equity in Our Schools,” “Moving the Needle Toward Meaningful Institutional Change,” “Building an Equitable and Liberating Mindset” and “Breaking the White Centered Cycle,” we learned that the only way to achieve equity and justice is to eradicate all aspects of white-supremacy culture from “predominantly white institutions,” or PWIs, as NAIS calls its member schools, irrespective of the diversity of a school’s students. Perfectionism, punctuality, urgency, niceness, worship of the written word, progress, objectivity, rigor, individualism, capitalism and liberalism are some of the characteristics of white-supremacy culture in need of elimination."
Key Question: do you want this for America?

Saturday, February 12, 2022

18 examples of democrats' disastrous governance

 The complete failure of Democratic governance. 18 ways Democrats are weakening America piece by piece.

The Democratic Party has been

“I Just Don’t Care” Party !

As thousands of murdered bodies lie in the streets of our big cities, the homeless population increases, human waste and hypodermic needles lay open in the streets of San Francisco, boxcars are looted in LA, thousands of our friends are left behind in Afghanistan, the borders are wide open, taxpayers money is doled out to cities and states that were bankrupt etc.

The failure to “try” and fix the mess defines the Party.

1. Botched covid fight. Can't even produce tests. 1 million dead. Said Trump should resign when we hit 200k dead!

2. Record inflation. 2021 Is Expected to Rank as Biggest Year for Inflation in Four Decades - WSJ https://tiny.iavian.net/1jqp3 It’s Biden’s fault Inflation Haunts the Biden Economy - WSJ

Dems lie that it is global inflation. UK 2.10%. Japan 0.54% France 1.96%

3. Record crime surge. Favor criminals over the public. BECAUSE of democrats’ anti police and prosecutors-soft-on crime. https://www.msn.com/en-us/weather/topstories/liberal-prosecutors-anti-police-rhetoric-fueling-violent-crime-spikes-gamaldi/vi-AALjV0x

4. Calls parents " domestic terrorists "  A.G. Merrick Garland Tells FBI To Investigate Parents Who Yell at School Officials About Critical Race Theory (reason.com)

5. Turned Afghanistan over to Islamic terrorists  BIDEN BOTCHES AFGHAN WITHDRAWAL | OnlineColumnist.com – Dr. John M. Curtis  The chaotic and deadly U.S. withdrawal eroded U.S. security and credibility, but spare a thought for the Afghans now ruled by barbarians. They will suffer most.

6. no border control. Allowing in violent gangs, drug traffickers, sex traffickers, Muslim terrorists. 2 million illegals crossed in 2021.  Enforcement on the southern border is a total farce (nypost.com)

7. Votes to hurt Israel in UN  Biden Refuses to Vote Against UN Resolution Calling for Destruction of Israel | Frontpagemag

8. Russia, China, Iran all think he's a joke Keane: Russia, China, Iran view Biden's America as 'appeasement' nation that can be taken advantage of | Fox News

9. So clearly declining mentally his aides won't let him be interviewed. Fewest interviews in last 5 presidents. Dangerous gaffes Biden’s Gaffes Grate on Voters - WSJ

10. Nation more polarized than ever and he pours fire on it.

11. Families falling deeper into debt. Amid rising prices, American families fall deeper in debt https://tiny.iavian.net/1jpsv

12. Empty shelves.Shoppers 'astounded' by thinning grocery store supplies: 'It's just empty shelves' https://tiny.iavian.net/1jpw

13. Homeless skyrocketing

14. Rampant stealing

15. Back to importing oil from Russia. Under Trump we Exported energy. https://transtextreating.com/news/u-s-just-became-net-oil-exporter-first-time-75-years/

16. Worst ever trade deficit ever

17. National debt jumps at fastest pace. Now $30 trillion.

18. Biden ends sanctions vs Iran.

The list of his and Democratic failures is endless