American Business Planted The Seed For Today's Inflation.

 Inflation is the result of too many dollars chasing too fewer goods and services.  It takes place because of a decreased manufacturing capacity and disruption and or shortage in the supply chain of distribution.  The U.S. economy lost over 20 million jobs in 2020 due to the economic recession and the COVID pandemic which included several major surges.  Those conditions and job losses shut down the economy and its infrastructure to a great extent.  People stayed home, consumer goods were in short supply and a back log of orders took hold.  The GDP in 2020 contracted to a minus 3.4% and the U.S. ended Trumps time in office with the worst job creation record since the great depression of 1928.  Unemployment went up and was higher when he left office than when he took office.

President Biden knew something had to be done to bring the economy back, create jobs and reduce unemployment.  As a candidate for President in 2020 he had a plan to do so and his number one priority was COVID relief legislation which included a stimulus check, expanded unemployment for those who lost their jobs, child care and other benefits that put money and buying power back into the consumer's pockets.  And the consumer was ready to spend.  The President also saw that America bought enough of the approved COVID vaccine to vaccinate every American and planned the distribution to do so to keep America safe and working.  

The President anticipated what needed to be done and the economy responded by adding over 8 million jobs in Biden's first 17 months in office, a record number in such a short time.  The GDP in 2021 was 5.7%, the highest since the 1980's and unemployment continued to fall.  Along came inflation because the business community did not anticipate nor did they give much thought that the economy would respond in such a positive way so soon.  As a result, manufacturing and the supply chain distribution was unable to handle the demand of consumer spending even though they knew the economy's growth was steady.  Inflation took off to what it is today.

The President did his job knowing what had to be done and what the country was facing without action.  The business community failed to do their job with manufacturing and the supply chain distribution even though they had the profits and financial means to do so to handle the challenge of consumer needs and a growing economy.  We know they had the financial means and profits because of the following information.

(1)  The Americans for Tax Fairness and Institute for Policy Studies reported:  Between March 18, 2020 and April 15, 2021 the combined wealth of U.S. Billionaires increased $1.6 trillion, a 55% increase.  That covered the period of COVID pandemic and we know it is billionaires who control Walmart, Amazon and other major monopolies.   (2)  The AFL-CIO Labor Union Board that tracks CEO and workers earnings reported just this week that:  Average CEO earnings of S&P 500 companies in 2021 was $18.3 million, up 18.2%.  The ratio average of CEO earnings to it workers earnings was 324-1 in 2021.  299-1 in 2020 and 264-1 in 2019.  (3)  CEO earnings of the major corporations have increased every year for the last 6 straight years.  The years those increases took place include the pandemic years so their companies were certainly making money.  The earnings ratio also tells the great disparity between executive earnings and the average workers earnings are still miles apart.  

So, the business community, especially the ones who are monopolies had the financial means to keep manufacturing and the supply chain of distribution running and open to avoid the delay of goods and the inflation we are seeing today.  Yes, my fellow Americans, "Innovation, Lost in America's Business Community" the subject of previous commentary here in Politidose is still taking place.  And it is still taking place despite the 14% decrease in Corporate Income Tax (from 35% to 21%) thanks to the Trump/GOP tax cuts, tax loop holes and other benefits the business community has been given by a generous Uncle Sam.   

President Biden's liberal/progressive innovation economic policy worked to move the country and its people forward.  The Business community had no policy or innovation and therefore planted the seed of inflation.  

This commentary written by Joe  Lorio

Note:  The increase in CEO earnings noted in (3) above were all at record levels.

The Price of a Barrel of Oil and a Gallon of Gasoline: Inflation Is Not The Cause.

 The people of Louisiana and those along the Gulf Cost should know the current price of Oil and Gas is not due to inflation.  The Oil industry and its supporters would like you to believe that and are doing their best to try and sell the idea while real inflation is taking place with other goods and services.  It's the old con game the industry plays.

Flash back to the Gulf War when President Bush 41 sent American troops to Kuwait to oust Saddam Hussein' troops from Kuwait's oil fields.  And when President Bush 43 ordered the invasion of Iraq over WMD that did not exist.  Both operations launched the speculation of oil disruptions, shortages and other claims that drove the price of oil and gas to record levels at the time during the Bush 43 administration.  No one called the rising prices and record prices "inflation."  It was manipulation by those who control the price and an excuse for much higher prices.  Today it is speculation about the Russian war in Ukraine and the alleged disruption and shortages that have drove up the prices to record levels again.  There are no shortages with a world economy we are told slowing down.

Those who follow the facts know that the Oil industry, Russia and OPEC lowers or and raises their production depending on the market and manipulates the production according to their needs.  And when prices go up, it is never called "inflation" and when prices go down it is never called "deflation."  So now the industry and the financial markets who hate the President's energy policy are riding real "inflation" as an excuse to justify their record price increases.

The U.S. is the world's leading producer of oil, can produce enough for America's needs but still exports at a time of crisis, has production that is shut in and thousands of acres of land they have yet to drill on and they have failed the country at a time in need with excuses and misinformation.  The idea that they need the federal government to let them drill and produce more is a fairy tale.  They already have that capacity to do so without government's approval.

So no, my fellow Americans, and especially those in Louisiana who are paying those high gas prices at the pump, it is not because of "inflation."  We have been there before, done that and it was never called "inflation" for good and obvious reasons.  And the Oil industry are the ones who have destroyed Louisiana's environment and have never been held accountable.

Prices at the pump are starting to go down as predicted by this writer and it is not related to "inflation"  but those inflation hawks will use negative information as long as they feel it suits their purpose.  The manipulation that takes place with the Oil industry and the resulting damage to consumer pricing is good reason and proof why fossil fuels should be a thing of the past.  The Oil industry has been in control long enough.  It is past time to trust the future with a cleaner and more stable energy source and take control away from the Oil industry.

This commentary written by Joe Lorio

Food for thought:  I wonder how many people remember there was a time when they pulled up to a gas station and an attendant filled up their car with gas, cleaned the wind shield, checked the oil and water, checked the tires and all was included in the price of gas.  Now you are the attendant and everything else.  You even have to pay for air if the machine is working.  Less service but higher prices at the pump. 

Columnists Steve Roberts and Ron Faucheux Join The Negative Noise Machine Media In Trying To Predict Who Will Replace President Biden As The Democratic Nominee In 2024.

 Today, July 20 President Biden has served 18 full months in office, a far cry from the 48 months he was elected to serve.  Yet, the news media in general and the so called conservative media in particular are trying their best to plant the seed that Biden will be too old to seek a second term and are trying to figure out what democrat will step forward to replace the President as the nominee for 2024.  Some has suggested that the President announce his intentions now even though Biden has said he would run for re-election.  

Now comes two commentaries published in the New Orleans Advocate dated 7/15 and 7/18 by Steve Roberts and Ron Faucheux who basically ask the question, "what democrat will replace President Biden in 2024."  They name several democrats as possible candidates.  But the story unfolding is an indication how the media is broken when there are so many other important issues to talk about.  The idea of being so negative about the President when he still has 30 months left to serve demonstrates how low the media has fallen.  It's an attempt to make Biden a "lame duck President."  A cliche festered by politics and the media.

Both Roberts and Faucheux make note of Biden's low poll numbers like the election is next month and the President cannot recover.  But neither one mentioned that recent polls concerning the media are less favorable to the media than the President.  One would think that Roberts and Faucheux could find something positive to comment on like the economy for the last 17 months.  Taking a shot at the President and what democrat may or may not replace him this early in the President's administration is childish, unproductive and destabilizing.  Time itself will work things out.

As this writer said in previous Politidose commentary, the President will not seek re-election and listed the reasons why and hopefully will not make the announcement until January 2024.  That will be time enough for any democrat who has character, courage and is worth his salt to enter the race at a time of his own choice.  As for the negative noise media, they made the choice to be negative early on and at the same time when their fellow opinion writers are predicting doom and gloom for the economy, recession and all sorts of negative comments about the administration,  The negative voices seem to be following the Trump/GOP play book.

This commentary written by Joe Lorio 

U.S. Senator Joe Manchin Reveals His Ignorance Again On The Economy, Inflation and President Biden's BBB Legislation.

 Once again Joe Manchin has used the same excuse to kill President Biden's BBB legislation.  The first time was early in Biden's Presidency when he said "what's the rush" he needed more time.  Last week he used the same excuse again saying he wanted to wait until July was over and see what the inflation numbers look like before he takes up BBB again.  At the present he only supports legislation concerning prescription drug reform and Obamacare funding.  

Manchin is ignorant concerning the economy and how it works.  The President's BBB legislation addresses the inflation issue and there is no need to wait for future inflation reports.  Biden's COVID relief legislation passed early in his first year and was a priority because he knew it would prime the economy and put America back to work.  The President did not take a wait and see attitude before passing the legislation like Manchin wants to do now on BBB for the second time.

At the same time Manchin announced he would not support BBB and blamed it on inflation, General Motors announced that the company and its partners Pilot Travel Centers and EVgo would build 2,000 charging stalls at up to 500 Pilot Flying J sites across the nation.  The plug in charging sites would be at 50 mile intervals along U.S. highways.  Construction will start this summer and the new infrastructure will work with the company's goal to build only electric passenger vehicles by 2035 and Biden's promise during the campaign to build 500,000 charging stations by 2030.  

General Motors decision is a boost to the clean energy proposed by the President to fight climate change and the company can see a bright future for climate change despite inflation that Manchin clearly does not understand because he is beholden to the present fossil fuel energy industry.  Climate change is part of the President's BBB legislation that Manchin objects to.  Manchin's negative attitude toward BBB displays how childish he really is.  On the other hand General Motors attitude is positive on the economy and climate change as indicated on their above commitment and are not waiting on the July inflation report.  

President Clinton's administration faced a similar problem early in his first term when his economic plan was introduced in his very first budget.  He too had a split Senate and his budget and economic plan raised taxes on the highest tax bracket and corporate America.  Several democrats in the Senate opposed the legislation but in the end all 51 democratic Senators voted for the budget and the President's legislation.  The GOP opposed the bill, claiming it would increase the deficit, cause a recession, increase unemployment and blow  out the national debt.  But just the opposite took place.  Those democratic senators who came around and voted for the legislation served their country, the people and their party well.  They put their ego aside for a higher calling.

Senator Joe Manchin has done just the opposite.  He has turned his back on the party, the people and his country and in favor of keeping the status quo with the present energy industry and their special interest.

This commentary written by Joe Lorio

Why President Biden Will Not Seek Re-election In 2024.

 The noise machine for months has engaged in dumping their negative thoughts on the country's economy predicting doom and gloom while willfully over looking the positives taking place such as the good job numbers reported for June.  And now the noise machine is in full swing trying to convince the voters that no one wants the President to run for reelection in 2024 etc., etc., etc.  But all the noise machine has to offer is misinformation they believe will help the GOP in the mid term elections.

It's time to set the record straight.  The President will not run for a second term.  There are several reasons why.  The President has a physical problem moving about which is noticeable and not uncommon for a person his age.  The President lacks articulation in his speaking, still stutters to some degree and does not make a vibrant appearance.  Some take this to be a mental problem but that is not the case.  He is just not a personality person to speak of.  Franklin Roosevelt, the long time democratic President had a physical handicap with polio and in later years spent most of his time in a wheel chair.  But he was a great communicator and speaker and overcame his physical problems.  Plus the media in those days were not in the business 24/7, television was no where around and most journalists were real journalists.

The President is mentally capable of governing and the progress made both domestically and internationally in his first 17 months in office was sound by any fair standard.  His priority after taking office was COVID Relief, Infrastructure and Build Back Better legislation.  COVID and infrastructure became law and moved the country forward, regained all public sector jobs lost due to the recession in 2020 and lowered the unemployment rate to 3.6%.  Over 8 million jobs were added to the economy in 17 months, a record.  The President's BBB legislation was put on hold only because two democratic senators wanted to satisfy their own ego with the power they held because of a split U.S. Senate.  They ignored the people's vote for the President and his policies.

President Biden is not the usual politician and puts his country and its people first.  He recognizes his physical problems and will be satisfied to see the country and its people do well on his watch, as they are doing now in spite of inflation.(which by the way is coming down).  Being President is not an ego trip for Biden and he has served his country well at a time in need in the congress and as President.  This writer believes the President will make his announcement at the proper time and will not be forced by the media or anyone else to meet their time schedule to make the announcement.

The President was elected to serve 4 years and has 31 more months in office.  The media and the GOP would like the President to make the announcement early, that way they can go to their usual BS of declaring Biden a "lame duck President and get nothing done."  Hopefully, the President will announce his intentions in 2024.  That is time enough for any democrat worth his salt and wants to run for President to make his case.

The bottom line is President Biden, a decent man and a different kind of politician, will not seek reelection and will be satisfied in knowing his administration moved the country and its people forward at a difficult time and that the country and its people will be in better shape than when he took office.

This commentary written by Joe  Lorio  

The U.S. Economy, Job Creation and The Unemployment Rate For June 2022

 The U.S. Labor Department reported the economy added 372,000 jobs in June and that the unemployment rate was unchanged at 3.6%.  It was the 17th straight month of positive job growth for the Biden administration. (Feb 2021-June 2022).  According to previous Labor Department reports approximately 8.7 million jobs have been added to the economy in Biden's first 17 full months in office.  By comparison, 6.6 million jobs were added to the economy in Trump's first 36 months in office and that was before anyone ever heard about COVID or a pandemic.

Prior to the release of the job numbers, the negative noise machines were predicting lower job numbers and that the June numbers will be a make or break month for the economy.  It certainly was not a break month for the economy.  But the negative noise machine will shake off the good news and continue to talk about an economic recession and doom and gloom for the economy.  Their goal is misinformation because they want to see America fail under the Biden administration.  They hate the President's policies to transit away from big oil, his support for higher wages, his support of unions and policies that support the middle class.  The people should remember it is the negative news calling for the Feds to raise interest rates high and faster which could cause an economic recession.

The good job numbers for June was followed by a report from Freddie Mac that the 30 year home mortgage interest rate fell to 5.3% from the 5.7% level.  The negative noise machine was reporting surging interest rates would hit 7%.  But for the record, the average yearly 30 year home mortgage rate from 1971-2022 averaged 7.7% annually.  So where is the surge?  Those are the kinds of words used to try to sucker the people to have a negative view of the economy.

The Department also reported that all the private sector jobs lost during the pandemic has now returned to work with more to spare.  Job creation for June was broad based over all sectors of the economy and manufacturing added 29,000 jobs and now has more jobs than before the pandemic.  June's wages increased 5.1% from the same period last year.  The latest numbers confirm that the President's policies are working and that so far, this economy is one of the best following a devastating recession and record job losses. 

And it was all predicted here in "Politidose" commentary before the President took office and a short time after.  The reasons were there for all to see by those who pay attention to the past records of democratic administrations and check the facts.  The GOP, the conservative media and the pundit's negative noise machine were not happy with June's job numbers report by the Labor Department.

And once again, it is a democratic administration's policies that is driving the economy and moving the U.S. economy forward for progress.

This commentary written by Joe Lorio 

A New Era Of LSU Football Is On The Horizon.

 LSU's two new head coaches, Kim Mulkey (Women's Basketball) and Jay Johnson (Men's Baseball) completed their first season as head coach at LSU so Tiger fans have a reasonable idea what to expect in the future.  This writer thinks the future looks a lot brighter based on performance.

The spotlight now turns to LSU's new head football coach Brian Kelly whose team kicks off the season September 4 (58 days from this writing) in the New Orleans Superdome.  It will be a home game away from home for LSU and the Tigers will pack the stadium.  No one is certain what the final results will be for Kelly's first year at LSU at seasons end but we do know the following.

Except for the 2019 season when LSU won it all, the Tigers have not been a consistent winning team and have made the BCS playoffs only once since it began 8 years ago.  LSU's 2020 and 2021 seasons both ended playing 500 ball and the 2021 team had a 3-5 losing record in the SEC and finished in a tie with Auburn for last place in the SEC west.  The football program took a giant step backwards during those two seasons.

So what does the future hold for LSU football under new head coach Kelly?  The judgement and answer must come down the road.  The answer will be very elementary regardless how LSU ranks in recruiting.  The real question is, "what will Kelly do with the players on his team."  Will he be the coach that will produce a consistent winning team that makes the playoffs on a regular basis and therefore has a shot at competing for the national championship more often?

If that does not take place, the future of LSU football will look like the past.  There is another unanswered question.  How did LSU go from a national championship team in 2019 to breakeven seasons in 2020 and 2021?  Does LSU have other internal problems that have never been addressed?  The future has the answer.

In the meantime, hope is always there for LSU fans and when the season ends everyone will be able to judge what the future will look like for LSU and its new head coach.

This commentary written by Joe Lorio

The Sickness Continues In Rich Lowry's Opinion Column.

Rich Lowry, Trump's ditto head opinion writer for the Conservative National Review in a New Orleans Times Picayune article dated 6/30/22 says U.S. Attorney General Merrick Garland should stand down and not indict Trump concerning his traitorous acts of June 6th.  Like his sick opinions, Lowry gives several excuses why Trump should not be prosecuted and follows the script of the GOP that they are elite, above the law and should not be held accountable for their own illegal acts.

Lowry's first excuse:  The people would  think the prosecution of Trump would be political since the Attorney General was appointed by President Biden.  Second excuse:  Lowry does not believe Trump acted in corrupt intent with his lying about voter fraud because Trump spent his whole adult life exaggerating, twisting and obscuring the truth to suit his interest and ego.  Third excuse:  He is naturally prone to conspiratorial thinking and no one is going to be able to establish his state of mind.  Fourth excuse:  Most of Trump's allegedly illegal acts were carried out on the advise of lawyers, and indeed in the company of lawyers.  Fifth excuse:  Those republican voters who voted for Trump twice have to be persuaded that it is time for him to go.

Lowry's sick excuses ape the sickness affecting the GOP and so called conservative media that GOP Presidents are above the law.  They are the same ones who spread the lies about Hillary Clinton's role in the Benghazi attack even though three GOP controlled committees in congress who investigated the incident found the charges against her not to exist.  But Trump and Lowry's crowd still chanted, "lock her up" over and over again and Trump said he would see that she would be prosecuted if elected.

The January 6th committee has already presented evidence that Lowry's excuses are just that, excuses to protect a traitorous President and his party.  Lowry admits in his column he knew Trump was a liar who twisted and obscured the truth to suit his interest and ego all his life.  But Lowry still voted for and supports Trump and is still his ditto head.   This writer wrote commentary long ago how Trump's corrupted business life was brought to the White House and continued the corruption in the political arena.  

It culminated in his refusal to transfer the powers of the Presidency peacefully, his attempt to corrupt the political process by claiming fraud he knew did not exist and his attempt to have Presidential electors overturn the election.  That Trump sickness torch was passed to the conservative media who enabled Trump's every move and his extreme rhetoric and continue today with Lowry's sick column of excuses for Trump and the GOP.

This  commentary written by JoeLorio