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Re: The Shining City Upon a Hill
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Merkel and Biden to chart a course for the future of US-German relations in White House meetingComment
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Re: The Shining City Upon a Hill
This is important: When SSG makes a promise or a guarantee, you should bet the opposite. He was wrong on masks. Wrong on Covid. And he's wrong on inflation. Bless his heart, politics and predictions just isn't his thing.
Billy - 4
SSG - 0
White House quietly signals inflationary run could last years
White House is sending mixed messages on the United States's post-pandemic inflationary run, with quiet signals suggesting the period might last years longer than administration officials have publicly indicated.
The Consumer Price Index report for May published by the Bureau of Labor Statistics showed that year-over-year inflation jumped 5.4%, marking three straight months of increases and the single-largest increase since the Great Recession of 2008.
Still, the White House's Council of Economic Advisers noted roughly 60% of that increase could be attributed to auto industry demand, exacerbated by severe semiconductor shortages.
The Biden administration previously identified semiconductors as one of four areas with major supply chain deficiencies. Yet, Sameera Fazili, deputy director of Biden's National Economic Council, told reporters in June inflation caused by semiconductor supply chain issues would not last long.
We fully expect these bottlenecks to be temporary in nature and to resolve themselves over the next few weeks," she said. "These are good problems to be having. Demand came back much quicker than even companies expected
He added that "the long-term answer to this issue" is large-scale investments in domestic semiconductor production, such as the $50 billion investment President Joe Biden pledged in June.
The company additionally began a $20 billion construction on new semiconductor manufacturing facilities in Arizona this past spring.
"We have been looking at ways to help automakers with component shortages in the near term by leveraging our supply chain partnerships," the spokesperson said in a statement. "And we are looking at collaborating with automotive chip designers on future fabrication plans."
Still, a semiconductor engineer at Intel told the Washington Examiner it would likely take at least a year for production ramp up to levels capable of meeting post-pandemic auto demands.
According to the engineer, who has "visibility" on the company's overall semiconductor production and was granted anonymity by the Washington Examiner to speak freely on the issue, Intel missed its chip commitments for Q2 by "some percentage" and is currently anticipating a "short miss" for Q3.
"We don't have a clear plan of resolving that," the engineer continued. "Demand is so high."
BIDEN'S SUPPLY CHAIN REVIEW RECOMMENDS 'JUDICIOUS' USE OF THE DEFENSE PRODUCTION ACT
That engineer added that the new Arizona investments won't alleviate the auto-industry problems anytime soon.
"We're building this big fab we announced in Arizona. That's going to add a couple million square feet to our fab there, and we're constantly building in Oregon. But, I think the timeline to be getting new tools on to expand our capacity is a couple of quarters," the engineer explained. "So, I would say our capacity isn't probably going to be able to meet customers' demand for something like a year to two years."
That two-year time frame appears to match the total inflationary period lifespan hinted at in a recent white paper quietly published by CEA Chairwoman Cecilia Rouse and economists Jeffery Zhang and Ernie Tedeschi on July 6.
The article titled "Historical Parallels to Today's Inflationary Episode" that, unlike many administration publications, was not disseminated through the White House's press lists, suggests the past inflationary period that most resembles our current run is the nearly three-year episode that followed World War II.
The article does note that "no single historical episode is a perfect template for current events" but did eventually conclude that "the inflationary period after World War II is likely a better comparison for the current economic situation than the 1970s and suggests that inflation could quickly decline once supply chains are fully online and pent-up demand levels off."
The White House sent a much more visible signal on inflation Tuesday when former Treasury Secretary Larry Summers met with Deese and Rouse at the White House.
ummers has heartily criticized much of Biden's legislative agenda, including the $1.9 trillion American Rescue Plan and both of his infrastructure proposals. He argues those spending levels, coupled with the Federal Reserve Board's maintained zero-percent interest rates, will bring on rampant inflation.
The White House previously shrugged off his critiques.
Jason Furman, former CEA chairman for former President Barack Obama, spelled out a massive inflation warning on Twitter by noting a "massive divergence of inflation between the U.S. and Euro area right now."
Furman admitted part of the gap could be accounted for the different rates the U.S. and Eurozone reopened but claimed the phenomenon "says a lot more is going on than just pandemic-related shortages and quirks."
Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Re: The Shining City Upon a Hill
More Good News
Biden administration to restore, expand protections for Tongass National Forest
The Biden administration will both restore protections for the Tongass National Forest and add additional logging restrictions, the Agriculture Department announced on Thursday.
In a statement, the department said that it would start a rulemaking process this summer to restore Clinton-era protections to the Alaska forest.Comment
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Re: The Shining City Upon a Hill
Comment
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Re: The Shining City Upon a Hill
Jobs Jobs Jobs
Amtrak is betting big on a return of ridership.
The nation’s passenger railroad wants to replace its nearly half-century-old fleet with state-of-the-art trains that can operate on electricity or diesel fuel. It plans to spend $7.3 billion to buy 83 trains made by Siemens, with options to buy more if ridership increases. Funding must still be approved by Congress, but William Flynn, Amtrak's CEO, says he's confident it will happen.
If it doesn't, then Amtrak will finance the trains and repay its debt with money from state train services and passenger fares.
The more efficient trains, which will be built in California, are scheduled to start running in 2024. They will have more comfortable seating, better ventilation systems, power outlets and USB ports, Wi-Fi and panoramic windows. Many can run on either diesel fuel or battery power when needed.Comment
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Re: The Shining City Upon a Hill
You need to use your voice for freedom in Cuba. No more bullshit from you. It's time for you to abandon your core communist beliefs.
More Videos Filter Out Of Cuba Showing Brutal Repression
MIAMI (CBSMiami) – New videos surfaced Thursday showing brutal repression on demonstrators by the Cuban regime.
On Sunday, Cubans on the island took to the streets demanding freedom.
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They marched and demonstrated across the island, taking the regime by surprise.
By Sunday night, police had put down demonstrations in Havana, but they continued in other parts of the island on Tuesday.
They chanted and marched, chanting ‘Patria y vida,’ (homeland and life).
That chant echoed throughout the island, along with chants of “no tenemos miedo,” (We are not afraid).
When regime security forces hit the streets, they were met with stones and sticks.
The marchers were demanding an end to 62 years of a Castro communist regime that has suppressed them from having basic human rights, food, medicine, or liberty.
The Cuban government cut internet service to the island and left many cities and towns without electricity, but some people found a way to still flood social media with video
Cubans on the island who were able to filter videos of the repression are asking for help.
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One of those videos shows Cuban police beating a man that was protesting, you hear people screaming in Spanish.
“Do not kill him,” as the police walk away, the man lays motionless on the sidewalk.
Since the protest began on Sunday, police have been going into homes and taking teenagers, forcing them to fight against their own people and families.
On one video, a family begs authorities to let the teenager go. Fighting back, he is taken.
In another video, you see young teenagers put in the front lines, blocking protesters.
A woman who just arrived in Miami from Cuba said, “It’s really bad, but we are hopeful for any sort of help, because there is too much suffering. No medicine, no food. Everyone is in the streets. We need some protection and people need to continue to protest.”
And while Cuba remains in the streets, so does Miami.
MORE NEWS:
Solidarity Rallies For Cuba To Resume Friday As Miami Mayor Says President Biden Needs To 'Up The Ante'
Protests continued in South Florida on Thursday in support for those demanding change on the island.Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Re: The Shining City Upon a Hill
Look, it's fucking odd that you'd talk about how beautiful Cuba is when the citizens are being cracked over the head and beaten like animals.
It's like talking about how great Germany's country side is when Hitler was gassing the Jews.
You really need to rethink yourself. It's not a good look. In fact, it makes you look like a commie sympathizer.Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
Did you spend all Your Free Cheese? Free Mississippi
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