Numerous commentators—especially those defending President Biden’s economic record—have puzzled over why Americans are sour about the state of the U.S. economy. Unemployment rates have returned to pre-pandemic lows, commentators correctly point out, and the official rate of inflation is declining. So why are Americans ignoring the view of many experts that the economy is doing well?
According to a striking new paper by a group of economists from Harvard and the International Monetary Fund, headlined by former Treasury Secretary Larry Summers, the answer is that Americans have figured out something that the experts have ignored: that rising interest rates are as much a part of inflation as the rising price of ordinary goods. “Concerns over borrowing costs, which have historically tracked the cost of money, are at their highest levels” since the early 1980s, they write. “Alternative measures of inflation that include borrowing costs” account for most of the gap between the experts’ rosy pictures and Americans’ skeptical assessment.
“Backlash Is Real‘: DEI Exodus Gains Steam Across Corporate America.”
The unraveling of “diversity, equity, and inclusion” initiatives was seen on the state level, as Red states rushed to ban DEI programs in 2023. Google, Facebook, and other tech companies slashed DEI staff by late last year. Early this year, universities began rolling back diversity programs, while Harvard President Claudine Gay was demoted.
DEI was doomed to fail, and corporations have been quickly scrambling to abandon mindless and profitless diversity programs with Marxist roots. The latest earnings call data shows that “DEI” mentions have collapsed from their peak in 2021, according to Axios, citing data from AlphaSense.
In January, Johnny Taylor, president of the Society for Human Resource Management, told Axios that corporate executives are fed up with DEI.
“The backlash is real. And I mean, in ways that I’ve actually never seen it before,” Taylor said, adding, “CEOs are literally putting the brakes on this DE&I work that was running strong” since George Floyd’s murder in early 2020.
Kevin Clayton, senior vice president and head of social impact and equity for the Cleveland Cavaliers, said the chief diversity officer role was all the rage across corporate America after Floyd’s murder. He said companies filled these positions “out of gilt,” and hiring wasn’t the best.
Axios noted, “Some businesses are cutting back funding, trimming DEI staff — and even considering pulling back on things like employee resource groups comprised of workers of various races, ethnicities or interests.”
The pushback on DEI is finding momentum across corporations and universities. Subha Barry, former head of diversity at Merrill Lynch, told Bloomberg last month: “We’re past the peak.”
Let’s hope so.
No one at the wheel: “Biden Reportedly Has No Idea He Issued ‘Trans Day Of Visibility’ Proclamation.”
Gen Z hates the lousy Biden economy and favors Trump over Biden. Though a word to those Gen Z sorts who complain about a 9-5 schedule being “unnatural”: A “natural” schedule is performing backbreaking hunter/gatherer or subsistence agriculture work from dawn to dusk 6-7 days a week and dropping dead before you turn 40…
Ukrainian drones hit a Russia drone production facility at Yelabuga, Tatarstan, which is almost 1,000 miles inside Russia, using a drone that looks a whole lot like a light aircraft.
Ukraine hits another Russian airbase with over 40 drones, and presumably took out even more Su-34s.
Whoops, make that three Russian airbases hit. including reports of three Tupolev Tu-95 “Bear” bombers damaged. (Yes, Russia still has a propeller-driven bomber in service. It can carry nuclear weapons and launch cruise missiles.)
Gun crimes evidently mean being released without bail if the perp is an illegal alien.
“Cost estimates more than double to replace failing Austin arts center building.” Note the “Extended community engagement: $1 million” which is code for “Payoffs to leftwing activists.” (Hat tip: Dwight.)
“Paxton Seeks to Investigate Boeing Parts Supplier, DEI Initiatives. Attorney General Ken Paxton is seeking to investigate Spirit AeroSystsems after public outrage involving Boeing’s aircraft manufacturing issues.”
Boeing stated in 2022 that “for the first time in our company’s history, we tied incentive compensation to inclusion.”
Boeing’s 2023 Global Equity, Diversity, and Inclusion report explains that “diversity must be at the table for every important decision our company makes – every challenge we face, every innovation we design. Equity, diversity and inclusion are core values because they make Boeing — and each of us individually — better.”
According to the report, racial and ethnic minorities now hold 41.4 percent of jobs in the U.S. Boeing Commercial Airplanes Unit, and 28.3 percent in the U.S. Boeing Defense, Space, and Security. In 2022, U.S. racial and ethnic minorities made up 47.5 percent of new hires at Boeing.
You know what I want at the table for every important Boeing decision? Planes not falling out of the sky.
Intel lost $7 billion last year. Intel has a technology roadmap to get its process tech back on track, but failure to execute on previous nodes is what got them into this mess.
In addition to having fingers in the pie in Syria and Yemen in addition to their proxy war with Israel, Iran also has to deal with Sunni Baluch separatist organization Jaish al-Adl (“Army of Justice”) on their own territory, where they killed at least 11 Iranian security force members.
“Belew, Vai, Levin and Carey Play 80’s King Crimson.” Sign me up. Edited to Add: Crap, tickets went on sale for the Austin show in September TODAY. I was just barely able to snag two tickets in nosebleed…
DEI — the identity-obsessed dogma that goes by “diversity, equity, and inclusion” — has now trained Google’s new AI to refuse to draw white people. What’s even more alarming is that it’s also infected the supply chain that makes the chips powering everything from AI to missiles, endangering national security.
The Biden administration recently promised it will finally loosen the purse strings on $39 billion of CHIPS Act grants to encourage semiconductor fabrication in the U.S. But less than a week later, Intel announced that it’s putting the brakes on its Columbus factory. The Taiwan Semiconductor Manufacturing Company (TSMC) has pushed back production at its second Arizona foundry. The remaining major chipmaker, Samsung, just delayed its first Texas fab.
This is not the way companies typically respond to multi-billion-dollar subsidies. So what explains chipmakers’ apparent ingratitude? In large part, frustration with DEI requirements embedded in the CHIPS Act.
Commentators have noted that CHIPS and Science Act money has been sluggish. What they haven’t noticed is that it’s because the CHIPS Act is so loaded with DEI pork that it can’t move.
The law contains 19 sections aimed at helping minority groups, including one creating a Chief Diversity Officer at the National Science Foundation, and several prioritizing scientific cooperation with what it calls “minority-serving institutions.” A section called “Opportunity and Inclusion” instructs the Department of Commerce to work with minority-owned businesses and make sure chipmakers “increase the participation of economically disadvantaged individuals in the semiconductor workforce.”
The department interprets that as license to diversify. Its factsheet asserts that diversity is “critical to strengthening the U.S. semiconductor ecosystem,” adding, “Critically, this must include significant investments to create opportunities for Americans from historically underserved communities.”
The department does not call speed critical, even though the impetus for the CHIPS Act is that 90 percent of the world’s advanced microchips are made in Taiwan, which China is preparing to annex by 2027, maybe even 2025.
Handouts abound. There’s plenty for the left—requirements that chipmakers submit detailed plans to educate, employ, and train lots of women and people of color, as well as “justice-involved individuals,” more commonly known as ex-cons. There’s plenty for the right—veterans and members of rural communities find their way into the typical DEI definition of minorities. There’s even plenty for the planet: Arizona Democrats just bragged they’ve won $15 million in CHIPS funding for an ASU project fighting climate change.
That project is going better for Arizona than the actual chips part of the CHIPS Act. Because equity is so critical, the makers of humanity’s most complex technology must rely on local labor and apprentices from all those underrepresented groups, as TSMC discovered to its dismay.
Tired of delays at its first fab, the company flew in 500 employees from Taiwan. This angered local workers, since the implication was that they weren’t skilled enough. With CHIPS grants at risk, TSMC caved in December, agreeing to rely on those workers and invest more in training them. A month later, it postponed its second Arizona fab.
Now TSMC has revealed plans to build a second fab in Japan. Its first, which broke ground in 2021, is about to begin production. TSMC has learned that when the Japanese promise money, they actually give it, and they allow it to use competent workers. TSMC is also sampling Germany’s chip subsidies, as is Intel.
Intel is also building fabs in Poland and Israel, which means it would rather risk Russian aggression and Hamas rockets over dealing with America’s DEI regime. Samsung is pivoting toward making its South Korean homeland the semiconductor superpower after Taiwan falls.
To be fair, Intel has had fabs in Israel since since 1996, and Tower Semiconductor has had fabs in Israel since the 1980s. Poland, to the best of my knowledge, has never had a fab.
In short, the world’s best chipmakers are tired of being pawns in the CHIPS Act’s political games. They’ve quietly given up on America. Intel must know the coming grants are election-year stunts — mere statements of intent that will not be followed up. Even after due diligence and final agreements, the funds will only be released in dribs and drabs as recipients prove they’re jumping through the appropriate hoops.
So in the name of embedding the racist poison of social justice, the CHIPS Act, ostensibly designed to increase America’s share of cutting-edge semiconductor manufacturing, is actually driving new fab construction out of America.
You might think that on Christianity’s most holy day, a president running for reelection in a majority Christian nation would go out of his way to avoid antagonizing Christians.
The White House on Friday announced “transgender day of visibility” for March 31, which this year falls on Easter Sunday.
“NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim March 31, 2024, as Transgender Day of Visibility,” President Biden wrote in a Friday statement. “I call upon all Americans to join us in lifting up the lives and voices of transgender people throughout our Nation and to work toward eliminating violence and discrimination based on gender identity.”
Since its inception, the Biden administration has made LGBT activism a cornerstone of its policy priorities. Biden boasted in his statement that he appointed transgender leaders to his administration and ended the ban on transgender Americans serving openly in the military.
In the past, some of Biden’s transgender inclusivity events at the White House have backfired.
A transgender influencer was banned from the White House on Tuesday for posing topless at President Biden’s Pride celebration over the weekend.
Rose Montoya, who exposed his bare prosthetic breasts to the camera and onlookers at the official event, violated basic standards of decency and social manners, a spokesperson for the White House told the New York Post.
Children of the National Guard are also barred from sending in religious Easter egg designs for the 2024 “Celebrating National Guard Families” art event at the White House, Fox News reported Friday. The White House hosts many Easter traditions, including the military family art initiative and the annual Easter Egg Roll.
Easter egg submissions “must not include any questionable content, religious symbols, overtly religious themes, or partisan political statements,” according to the flyer.
You wouldn’t want Christian symbolism in an Easter celebration, now would you?
I’m surprised the Gay Mafia isn’t already suing Masterpiece Cakeshop to make them a cake depicting a crucified Easter Bunny.
Transexist dogma demands that you agree that 2+2=5. To note the biological reality that human beings with XX chromosomes are female, and XY chromosomes are male, and that no amount of cosmetic surgery can ever change that, is commit a heresy against the new church of social justice.
Transesxist dogma is so unpopular that they’re even rejecting it in New York City, but the Biden Administration still insists on forcing it down America’s throats.
Even in an election year.
Even on Easter Sunday.
The brazenness of dedicating Easter Sunday to transexual activism should convince you that the hard left is actively hostile to Christianity. They view it as a competing source of moral legitimacy that thwarts their will-to-power desire of a complete transformation of American society.
More specifically, they want to use social pressure and government coercion to remake Christianity itself in their own image, to make it compliant and subservient to a state they control, just as in Communist China.
People who dedicate their lives to the Risen Christ rather than utopian schemes to remake society are a threat to the left’s plans for total top-to-bottom social control, just like vast numbers of armed citizens are.
Lies trying to hide how bad the Biden Recession sucks continue to unravel, a mini Texas-vs.-California update, Ukraine makes another oil refinery go boom, true depths of human depravity, some Bill Burr and Critical Drinker links, and two tons of Murica. It’s the Friday LinkSwarm!
Against expectations of a small improvement from -11.3 to -10.0, the headline sentiment gauge dropped to -14.4 (the lowest end of analysts’ forecasts).
Furthermore, the production index, a key measure of state manufacturing conditions, fell five points to -4.1, a reading that suggests a slight decline in output month over month.
Other measures of manufacturing activity also indicated declines this month.
The new orders index – a key measure of demand – dropped 17 points to -11.8 after briefly turning positive last month.
The capacity utilization index edged down five points to -5.7, and the shipments index plunged from 0.1 to -15.4.
The decline in new orders came alongside a surge in prices as raw materials costs rose to 13-month highs…
That has the stench of stagflation lathered all over it.
Also worse than reported: employment numbers. “Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000.”
We first have to go back to December 2022, when we reported something shocking: as part of its data analysis of the “more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program”, the Philadelphia Fed found that the BLS had overstated jobs to the tune of 1.1 million! This is what the Philadelphia Fed wrote in its quarterly Early Benchmark Revision of State Payroll Employment report at the time:
Our estimates incorporate more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program to augment the sample data from the BLS’s CES that are issued monthly on a timely basis. All percentage change calculations are expressed as annualized rates. Read more about our methodology. Learn more about interpreting our early benchmark estimates.
So what did this “more accurate”, “more comprehensive” report find? It found that…
In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. CES estimated net growth of 1,047,000 jobs for the period.
Lots of detailed analysis snipped.
Putting it all together, we now know – as the Philly Fed reported first – that the labor market is far weaker than conventionally believed. In fact, no less than 800,000 payrolls are “missing” when one uses the far more accurate Quarterly Census of Employment and Wages data rather than the BLS’ woefully inaccurate and politically mandated payrolls “data”, and if one looks back the the monthly gains across most of 2023, one gets not 230K jobs added on average every month but rather 130K.
Of course, none of that paints Bidenomics in a flattering picture, because while one can at least pretend that issuing $1 trillion in debt every 100 days to add 3 million jos per year is somewhat acceptable, learning that that ridiculous amount buys 800,000 jobs less is hardly the endorsement that the White House needs.
I think I link a story like this every year: “California Leads Among U.S. States Sending People to Texas in 2022. Florida and New York combined sent fewer people to Texas than California.” Leave any leftwing politics behind when you move…
California has a $55 billion deficit. But don’t worry, for the 24-25 fiscal year, it’s a $73 billion deficit.
A Russian-backed “propaganda” network has been broken up for spreading anti-Ukraine stories and paying unnamed European politicians, according to authorities in several countries.
Investigators claimed it used the popular Voice of Europe website as a vehicle to pay politicians.
The Czech Republic and Poland said the network aimed to influence European politics.
Voice of Europe did not respond to the BBC’s request for comment.
Czech media, citing intelligence sources, reported that politicians from Germany, France, Poland, Belgium, the Netherlands and Hungary were paid by Voice of Europe in order to influence upcoming elections for the European Parliament.
The German newspaper Der Spiegel said the money was either handed over in cash in covert meetings in Prague or through cryptocurrency exchanges.
Pro-Russian Ukrainian oligarch Viktor Medvedchuk is alleged by the Czech Republic to be behind the network.
Mr Medvedchuk was arrested in Ukraine soon after the Russian invasion, but later transferred to Russia with about 50 prisoners of war in exchange for 215 Ukrainians.
Czech authorities also named Artyom Marchevsky, alleging he managed the day-to-day business of the website. Both men were sanctioned by Czech authorities.
“$100M missing from Bay area trust fund management company. A Bay area father who counted on a local non-profit to handle a trust fund designed for his daughter’s long-term care feels duped.” And this is a trust for special needs kids.
The radical leftists in control of Baltimore City Hall have plunged the metro area just north of Washington, DC, into apocalyptic levels. We advise readers to entirely avoid the metro area as violent crime spirals out of control.
Failed social justice reforms, defunding the police, and widespread mistrust of the police have resulted in a skeleton police force that will no longer be able to protect residents in some regions of the city.
Fox Baltimore reported last Tuesday that only three police officers were on duty for the Southern Police District, which includes more than 61,000 residents.
Joe Lieberman, RIP. One of the least reprehensible Democratic senators of the last 30 years or so. But I still remember this:
Don’t click on this link unless you want to plumb the depths of human depravity. Noteworthy: “He and his husband.”
Stellantis, AKA The European Monster That Ate Chrysler, just just laid off a whole bunch of white collar workers. Note their mention of focusing on “implementing our EV product offensive.” Oh yeah, they’re boned.
Florida Governor Ron DeSantis declares victory over Disney, as the latter has dropped their lawsuit over the the elimination of their special district status.
Sean Combs, AKA “Puff Daddy,” AKA “Diddy,” raided by the FBI. “A source close to the investigation told NBC News that the raid was connected to allegations of sex-trafficking and sexual assault and the solicitation and distribution of illegal narcotics and firearms.” “Source close” caveats apply.
The federal government is going to allow a shuttered nuclear power plant to be restarted. “The federal government announced that it would provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan. NJ-based Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it, but with support from the state of Michigan and the Biden administration, the emphasis has shifted to restarting the nuclear power plant by late 2025 instead.” Not wild about the loan part, but restarting America’s nuclear energy growth is long overdue.
Used Japanese homes are worthless Not just because of the shrinking population, but because they’re designed to be.
The Critical Drinker is not impressed with the Road House remake. “The Patrick Swayze original wasn’t exactly peak cinema. It was dumb and over-the-top and silly, and I don’t imagine people were exactly crying out for a remake. But damn, man, it’s like Citizen Kane compared to this version.”
School tries to ban American flag from truck. Result: Two tons of Murica.
Twitch is cracking down on streams that “focus on intimate body parts.” After watching this, I have one question: Where exactly did the lady featured obtain her “automatic butt jiggler?”
Feel-good crime aftermath story:
Dog shot during the robbery given a warm send off by hospital staff after undergoing multiple surgeries..🐕🐾🥺🙏❤️ pic.twitter.com/OnSjqmRt2u
“If you watch certain YouTube videos, investigators demanded your data from Google.”
“Investigators have approached Google and said ‘We want to know who watched certain videos, give that information up.’ So as Chase [DiBenedetto] writes, if you’ve ever jokingly wondered if your search or viewing history is going to put you on some kind of watch list, your concern may be more than warranted.”
“Google was ordered to hand over the names, addresses, telephone numbers and user activity of YouTube accounts and IP addresses that watched certain YouTube videos, which was part of a larger criminal investigation by federal investigators.”
It turns out the feds had sent a link to this video to a single “suspected cryptocurrency launderer,” but was able to get a warrant for personal details on everyone who watched it.
Also, it wasn’t some sort of illegal video, either. They were “public YouTube tutorials on mapping via drones and augmented reality software. Forbes says the videos were watched more than 30,000 times, presumably by thousands of users unrelated the case.” But the government now has their personal data. And the past five years has shown that if the deep state gets your data, they won’t hesitate to abuse it to advance their interests.
Google says they “push back” against overbroad demands. But given how woke Google has become, how hard do you think they’re going to push aback against data demands targeting the right?
“This is the latest chapter in a disturbing trend where we see government agencies increasingly transforming search warrants into digital dragnets.”
“It’s unconstitutional, it’s terrifying, and it’s happening every day.”
“When you’re on the internet, your actions are being tracked by all kinds of entities.”
“The scary part is they’ve got this information on you to begin with, but we’ve known that for a while.”
“Your car is snitching on you, and so on so is your smartphone, and now so is Google, on occasion.”
“‘We want the information on tens of thousands of people,’ and suddenly you realize ‘OK, this is an extremely broad search. Couldn’t you narrow it a little better than that?'”
Asking for such information in a search warrant is an overly-broad abuse of power and violation of privacy rights, and also suggests sloppy investigative technique on the part of the feds.
Here’s hoping the courts quash such requests in he future.
Remember the WNBA? The women’s basketball league the NBA started to draw more women into watching basketball? In its inaugural season, the WNBA finals drew 2.85 million viewers, when the Houston Comets won the first of their four championships.
It’s never reached those heights again, and the Comets folded in 2008. There was a mild uptick to 728,000 viewers last year.
So you’d think the league would welcome an exciting, highly skilled new breakout player.
You’d be wrong.
“For almost three decades the WNBA has been a laughing stock and disgrace of a professional sports league that only survives due to NBA subsidies.”
“A possible turning point for this sad existence of a league has arrived in the form of a basketball messiah.”
“Caitlin Clark, the greatest and most popular female college basketball player of all time, has announced she’ll be joining the WNBA this upcoming season, and some think she can do for the WNBA what Larry, Magic or Jordan did for the NBA.” I think she can make it more popular, but I sincerely doubt she can produce the same boost that trio gave to the NBA’s fortunes.
“The WNBA’s players don’t want Caitlin Clark to succeed.”
“The WNBA is made up primarily of players who’ve been infected with the false ideas of modern feminism, which heavily focuses on issues related to race, sexuality, gender identity and participating in the oppression Olympics.” I would say “Get woke, go broke,” but the WNBA was already broke without NBA subsidies.
“The players that have been infected with this ideology don’t want Clark to be the face of the league and will do everything in their power to stop it from happening.”
“The first problem Clark will face is that she will be a straight player in a primarily LGBT dominated league, which some of you may think is nonsense and won’t have any effect.”
“But don’t take it from me, take it from former WNBA champion and number three overall draft pick Candace Wiggins, who claimed that 98% of the league is gay and that the toxic environment within the the league affected her as a straight woman and made her retire early.”
“From her first moment in the league, she was targeted and harassed because she was straight and a nationally popular figure, and that many of the other players were jealous and consistently tried to hurt her.”
“After Wiggins came out with these comments, the media didn’t support her. Instead they tried to tear down and diminish her.”
“If you look at viewership numbers since the start of the league, you’ll see viewership is still down tremendously. But the league and the media will still try to create a positive narrative by saying things like how this year’s finals had the highest viewership for a game three in 18 years, without mentioning it was still over 200,000 viewers short of the game three 18 years ago, and one of the teams that played in that game [doesn’t] even exist anymore.”
“Even worse for Caitlin Clark is that, unlike Wiggins, in the minds of those who participate in the oppression Olympics, Clark bears the ultimate sin of being white.”
“We’ve already seen this be a problem for other WNBA Stars. For example Sabrina Ionescu. She’s of course the player who took Steph Curry to the wire in the Three-Point Contest, which was probably the most exciting thing of that dumpster fire of an All-Star weekend.”
“Like Clark, Sabrina was a dominant college player who won awards and consistently pulled in higher attendance numbers for her college game than the average WNBA game, yet ever since she’s been in the league she’s faced criticism from players and the media because she’s white.”
“With an Emmy-nominated sportscaster [Chris Williamson] straight up saying the reason people aren’t rocking with Sabrina is because she leans into her white privilege and benefits from her whiteness and doesn’t use it to uplift and amplify her black co-workers voices in the WNBA.”
Plus the usual accusations of racism for putting her on the NBA2K24 cover. (Which is, I think, a special WNBA edition available only at Gamestop? I don’t play sports video games, so I have no idea how these various editions work.)
“This past year, Sabrina was ranked six by the fans and media among guards for All-Star voting, but was ranked 19th by the players.”
“Articles have already started to emerge which claim Clark’s whiteness is the reason she has been elevated to superstar status instead of, you know, the fact that she’s actually a legit college superstar who’s scoring points at a level not seen since Pistol Pete and bringing in more fans to the women’s game than ever before.” This is hyperbole. Though quite impressive, Clark’s 27.8 points per game in NCAA Division 1 doesn’t come close to Pete Maravich’s insane 44.5 points per game, and Chris Clemons averaged 30 points a game 2018-19.
“Those in and around the league subscribe to beliefs that simply don’t allow them to build the WNBA around Caitlin Clark, but rather instead actually urge them to tear her down.”
Is the commenter (TooLazyToHoop) overselling Clark? Maybe. I’m hardly an expert on the WNBA or women’s college basketball. (Although, since I could, in fact, name five past WNBA players with a gun to my head, I probably do know more than 99% of the American public.) But the video shows Clark does have a very sweet 3-point stroke.
And now Bill Burr’s quite relevant WNBA rant:
“Nobody in the WNBA got Covid.”
“We gave you a fucking league! None of you showed up! Where are all the feminists? None of you went to the fucking games. You failed them, not me.”
“Women failed the WNBA.”
“Meanwhile, the Kardashians are making billions. Those Real Housewives shows are making money hand over fist. That’s what women are watching.”
Welcome to spring! More evidence the Biden clan lied under oath, lots of illegal alien news, Ukraine hits more Russian oil refineries, and BlackRock and Planet Fitness enjoy the consequences of getting woke. It’s the Friday LinkSwarm!
In his opening statement before the House Oversight Committee on Wednesday, Hunter Biden’s former business partner Tony Bobulinski publicly accused the first son and his uncle, Jim Biden, of lying under oath about the nature of their business dealings with Chinese conglomerate CEFC.
Bobulinski is testifying on Wednesday about the Biden family’s foreign business dealings, the subject of the House GOP’s impeachment inquiry into President Joe Biden. He testified behind closed doors last month and vividly recalled meeting Hunter, Joe, and James Biden in May 2017 to discuss a proposed joint venture with CEFC.
Bobulinski cited three examples of alleged perjury from Hunter Biden’s sworn testimony last month, accusing Hunter of lying about: the timeline of his business relationship with CEFC, his father’s interactions with his business associates, and the threatening text he sent a Chinese businessman in which he demanded payment and said he was sitting next to his father.
“Hunter Biden gave his transcribed interview to the House Oversight Committee on February 28 and lied throughout his testimony,” Bobulinski said in his written testimony.
Hunter Biden said his work for CEFC began with a retainer in 2017. However, Bobulinski insists, based on conversations he said he had with Hunter, that the Biden business relationship with CEFC goes back further, possibly to Joe Biden’s time as vice president.
Hunter Biden claimed his father never interacted with his son’s business partners and repeatedly denied his father’s involvement in those dealings. However, Hunter Biden confirmed Joe Biden met Bobulinski and multiple foreign business partners, and spoke to business associates on speakerphone.
James Biden denied in his closed-door testimony that he attended that May 2017 meeting, contradicting Hunter’s sworn testimony.
“The sole reason Hunter wanted me to meet his father was because I was the CEO of SinoHawk, the Bidens’ partnership with CEFC. I was a business associate. In his transcript, Hunter confirms that that meeting with Joe took place and incriminates his Uncle Jim for perjury by confirming it,” Bobulinski’s statement reads.
In his written testimony and the opening statement he delivered, Bobulinski also accuses Hunter of lying about the details of a text he sent to a Chinese business associate in July 2017 where he appeared to leverage his father’s influence. Hunter Biden testified that he was embarrassed by the text and claimed he sent it to the wrong Chinese business partner, a person not connected to CEFC.
“He leveraged his father’s presence next to him in that infamous text to strongarm CEFC into paying Hunter immediately,” Bobulinski said.
In March 2017, Hunter Biden’s then-business partner Rob Walker received a $3 million payment from State Energy HK, an account linked to CEFC.
Walker distributed roughly $1 million of the State Energy HK funds to bank accounts linked to Hunter Biden and other members of the Biden family, bank records show. The $3 million wire to Walker took place after Hunter Biden and his business associates held meetings with CEFC and helped explore business deals, according to Walker’s testimony and Hunter Biden’s federal tax indictment. Joe Biden’s vice presidency concluded only weeks before the State Energy HK payment came in.
Bobulinski also accused James Biden of lying under oath about the details of his involvement with Bobulinski and CEFC.
Testifying behind closed doors last month, James Biden repeatedly denied meeting Bobulinski, contradicting the testimony given by Bobulinski and Hunter Biden, according to a transcript of his testimony. Despite being shown exhibits to the contrary, James Biden doubled down on his denial that the May 2017 meeting with Bobulinski and Joe and Hunter Biden took place. Likewise, James Biden denied signing any agreement to get into business with Bobulinski through Oneida Holdings, a holding company created for the CEFC proposal.
When presented with a signed copy of the Oneida agreement, James Biden said he could not recall being part of the Oneida arrangement. The CEFC proposal involving Bobulinski fell apart, and the Bidens entered a separate joint venture with CEFC called Hudson West III to help CEFC explore U.S. energy deals.
“There are many other examples of Hunter’s and Jim’s lies, which I am happy to discuss during my testimony here today, and I hope this Committee will hold them accountable for their perjury before you,” Bobulinski’s written statement adds. When questioned by Republican lawmakers, Bobulinski repeated his accusations Hunter and James Biden committed perjury during their closed-door testimonies last month.
Alongside Bobulinski, imprisoned former Biden associate Jason Galanis is testifying virtually about the business enterprise he worked on with Hunter Biden and other business partners. Galanis’ opening statement on Wednesday mirrors private testimony in which he claimed Joe Biden helped his son finalize deals with Chinese and Russian business partners.
“The entire value-add of Hunter Biden to our business was his family name and his access to his father, Vice President Joe Biden,” Galanis testified. He believes he is risking his safety to testify because of alleged retaliation by the Justice Department during his time in prison for participating in a fraudulent bond scheme.
Bobulinski’s testimony will be no surprise to regular BattleSwarm readers following the scandal.
I’ll confine myself to one typical example, although many could be cited. On page 55 of the transcript, Hur asks Biden in what workspaces he kept documents at the vice president’s residence (the Naval Observatory); Biden’s response runs seven pages — although it was not a sensible response to the very simple question asked.
The president began by recounting that “I was the guy who wrote the Violence Against Women Act”; that agriculture is “a $4 billion industry in Delaware and the Delmarva peninsula”; that in a law-school torts class he was applauded for speaking ten minutes about a case he had not read; that “to make a long story short” he got a job out of law school at a firm in Delaware; and that “to make a long story not quite so long” he participated in a case while he was waiting for his bar results involving “this poor kid [who was] down a hundred-foot vessel, chimney, scraping the hydrogen bubbles off of the inside” but “was wearing the wrong pants, wrong jeans, and he —a spark caught fire and got caught in the containment vessel and he lost part of his penis and one of his testicles and he was 23 years old.” The senior partner told Biden to write a memo supporting a motion to dismiss the case, “and son of a bitch, it prevailed,” whereupon Biden thought “son of a bitch I’m in the wrong business, I’m not made for this.”
Thereupon, the senior partner invited him to go to the Wilmington Club, where “no blacks, Catholics are allowed — have been allowed to be members. The DuPont family name.” (Biden elsewhere in the seven pages repeatedly refers to the DuPont family, whom he describes as “Rockefeller Republicans” highly influential in Delaware.) Biden recalled being so taken aback by the Wilmington Club invitation that, in “the only time I ever lied that I can remember looking somebody in the eye,” he made up a story that his father was coming to visit that day. Then he immediately walked through “the basement on a public building and walked in with a guy named Frank and I said I want a job as a public defender.” This began “what got me — I had been involved in the civil-rights movement. That got me deeply involved in trying to reform the Democratic Party, which was a southern Democratic Party. We were a slave state by law.”
“And the whole point of telling you all this,” he continued, “is that I had a lot of material that I kept notes on” about the Democratic Party. And at that point, when he was 26 or 27 years old, Biden elaborated, “I went to work part time for a criminal-defense firm mainly, a real estate — there were five people. And so I was no longer a public defender. . . .” Then “one thing led to another” and Biden joined a group seeking to reform the Democratic Party. Even though he was young, they wanted him to run for the state senate. But he wanted to start his own law firm instead. “So to make a long story short,” he ended up running for county council, but “wanted to be sure that I was going to lose,” so he ran in a district that no Democrat had ever won. “And I won it. And next thing you know, I’m in a tough position. My generic point was that there was a lot of material that I had amassed that I wanted to save. I probably still have it somewhere. And so that stuff would travel wherever the hell I was.”
At that point, mercifully, Hur interjected, “trying to steer us back to the end of your vice presidency.”
To repeat, what I’ve outlined above comes from a single, uninterrupted, utterly non-responsive answer to a question about where Biden kept documents while living in the Naval Observatory circa 2016.
I would say that Grandpa Simpson is running the country, except it’s his Obama-retread aides who are doing that, and Grandpa Simpson is markedly more focused and coherent than Slow Joe is now. (Hat tip: Powerline.)
A senior official with United States Customs and Border Protection (CBP) revealed Wednesday that CBP agents in El Paso arrested a man for attempting to enter the country illegally, and a further search led to the discovery of gang connections and alarming images contained on the man’s phone.
CBP Chief Jason Owens announced the arrest on social media, saying the man was from Colombia and shared images of tattoos that connect him with the Clan Del Gulfo (CDG) cartel.
A federal law, Section 922 of Title 18 of the U.S. Code, bars illegal immigrants from carrying guns or ammunition. Prosecutors charged Heriberto Carbajal-Flores, the illegal alien, in 2020 after he was found in Chicago carrying a semi-automatic pistol despite “knowing he was an alien illegally and unlawfully in the United States.”
U.S. District Judge Sharon Johnson Coleman rejected two motions to dismiss, but the third motion, based on a 2022 U.S. Supreme Court ruling, triggered the dismissal of the case on March 8.
“The noncitizen possession statute, 18 U.S.C. § 922(g)(5), violates the Second Amendment as applied to Carbajal-Flores,” Judge Coleman, appointed under President Barack Obama, wrote in her 8-page ruling. “Thus, the court grants Carbajal-Flores’ motion to dismiss.”
“Tyson closed down a pork plant in Iowa to hire ‘asylum seekers’ in New York. Tyson Foods just axed 1,200 jobs in Perry, Iowa, a town of just a few thousand people, and have moved those jobs, as well as others, to places like New York where they know there are ‘asylum seekers’ ready to replace American workers.”
The Biden administration announced Wednesday that it will impose the strictest vehicle-emissions regulations ever enacted as part of an effort to push the American car industry toward electric vehicles.
The emissions standards, which will cover light-duty vehicles — cars, SUVs, and pickup trucks — are set to apply to models produced from “2027 through 2032 and beyond,” the Environmental Protection Agency said in a statement.
The new rules set targets for the number of electric models produced in the United States as a percentage of all light-duty vehicles created each year. For instance, in 2030, hitting the EPA’s new targets would require somewhere between 31 percent and 44 percent of new cars, SUVs, and pickup trucks to be fully electric, with the exact percentage depending on the amount of emissions from other vehicles.
Though the regulations announced Wednesday are the strictest in the country’s history, they are a step back from the EPA’s April 2023 proposal, at least in terms of the rollout speed. While the target in 2032 is still for carbon emissions to be cut in half from the total produced by cars that went on sale in 2026, the shift will be more gradual than the changes the administration proposed last year and the targets in the earlier years easier to meet.
Another difference is the inclusion of hybrid vehicles. The April 2023 proposal called for two-thirds of cars sold in 2032 to be electric, but the new regulations amend that number to 56 percent of cars sold being electric and another 13 percent hybrid.
The electric car market is already saturated and EV sales are falling. Americans don’t want them, so the Biden administration is going to punish (and possibly destroy) the American car industry in their relentless pursuit of green graft.
“Texas School Fund Divests $8.5 Billion From BlackRock Over Anti-energy Policies. State Board of Education Chairman Aaron Kinsey said BlackRock was not in compliance with new legislation that prohibits state funds from being given to organizations that boycott energy companies.” Good. BlackRock’s “Environmental Social Governance” is bad for investors and bad for America.
The Supreme Court on Tuesday lifted its freeze of a Texas immigration law which allows state and local law enforcement to arrest illegal immigrants and empowers state judges to deport them.
The Court’s six conservative justices dismissed the Biden administration’s emergency appeal, allowing the law to remain in effect while the issue is adjudicated by lower courts. The majority did not explain its reasoning, as is typical, but Justice Amy Coney Barrett, joined by Justice Brett Kavanaugh, issued a concurring opinion explaining that Texas should be allowed to enforce its law until a lower court definitively strikes it down.
“If a decision does not issue soon,” Barrett wrote, “the applicants may return to this court.”
On X Tuesday, Texas Governor Abbott acknowledged that litigation over the law will continue in lower courts.
“BREAKING: In a 6-3 decision SCOTUS allows Texas to begin enforcing SB4 that allows the arrest of illegal immigrants,” he wrote. “We still have to have hearings in the 5th circuit federal court of appeals. But this is clearly a positive development.”
Texas Attorney General Ken Paxton celebrated the ruling on X.
“HUGE WIN: Texas has defeated the Biden Administration’s and ACLU’s emergency motions at the Supreme Court,” he said. “Our immigration law, SB 4, is now in effect. As always, it’s my honor to defend Texas and its sovereignty, and to lead us to victory in court.”
In court papers, Paxton said the Texas law does not undermine federal law but complements it regarding immigration enforcement, which the federal government is supposed to be fulfilling. The Biden administration for many months has been flouting federal immigration law by paroling illegal immigrants into the U.S. instead of detaining them.
The Constitution “recognizes that Texas has the sovereign right to defend itself from violent transnational cartels that flood the state with fentanyl, weapons, and all manner of brutality,” Paxton said in filings, according to NBC News.
Texas is “the nation’s first-line defense against transnational violence and has been forced to deal with the deadly consequences of the federal government’s inability or unwillingness to protect the border,” he added.
Chalk one up for controlling the borders and the rule of law, right?
A procedural victory for Texas allowing the state to enforce its new border security law while the Biden administration’s battle against the measure continues to work its way through the courts was short-lived.
While the U.S. Supreme Court moved to allow the law to go into effect on Tuesday afternoon, hours later the Fifth Circuit Court of Appeals put the law on hold yet again.
Senate Bill 4, which was set to go into effect earlier this month, creates a state crime for entering the country illegally, paving the way for state law enforcement to arrest illegal aliens.
After the federal government challenged the measure in a lawsuit, U.S. District Judge David Alan Ezra blocked the law from going into effect. It has since been sent to the Fifth Circuit Court of Appeals.
In the meantime, a procedural fight had taken place over whether the state could enforce the law awaiting final judgment in the case.
In a 6-3 decision on Tuesday, the Supreme Court denied the Biden administration’s request to halt enforcement of the law, allowing Texas to begin enforcement immediately.
At the time, Attorney General Ken Paxton called the decision a “huge win” for Texas.
“Texas has defeated the Biden Administration’s and ACLU’s emergency motions at the Supreme Court. Our immigration law, SB 4, is now in effect. As always, it’s my honor to defend Texas and its sovereignty, and to lead us to victory in court,” said Paxton.
That victory was short-lived, as late Tuesday night the Fifth Circuit Court of Appeals placed another stay on the law from being enforced.
Frustrating, but it underscores the difficulty the Supreme Court faces, namely: How do you reign in an executive branch hellbent on ignoring clear laws on securing the border against illegal aliens that instead actual aids and abets illegal aliens breaking those same laws?
What mechanisms can the Supreme Court use to reign in a rogue executive without causing a constitutional crisis?
The Fifth Circuit had a hearing scheduled this morning on the issue but evidently haven’t issued a ruling. I’ll try to update this if it does…
I haven’t reported much on the farce of Democrats tearing through the thicket of law to get at their great devil Donald Trump, mainly because it is such a farce, but here’s Christopher Rufo on Joe Rogan discussing how dangerous and anti-democratic their blood vengeance crusade is.
Joe Rogan: “How disturbed are you by what seems to be this acceptance that people have for prosecuting political opponents?”
JR: “Because to me, it’s, regardless of what you think about Donald Trump as a human being and the polarizing figure that he is, setting the precedent of trying your political opponents to somehow or another, either put them in jail, or make them seem like complete total criminals in a way that would, for the casual, for the person who’s not reading deep into the headlines.”
JR: “The casual Democrat that sees this Trump real estate thing that just happened, where he got fined $365 million. I’ve seen people argue ‘fraud is fraud and this is that and he’s a fraud,’ and then I saw Kevin O’Leary from Shark Tank explain this is what every real estate developer does.”
JR: “They say ‘My building’s worth $400 million,’ and then someone comes along from the bank, and they say ‘No, it’s worth $300 million. We’ll give you a loan on $300 million’ or whatever.”
Christoper Rufo: “It’s negotiation.”
JR: “People overvalue their property all the time. [Someone] has a house and it’s worth $700,000, they decide to list it as $900,000.”
CR: “We have a democratic system that favors Trump, in the sense that he won in 2016, he’s winning the primary right now for republicans in 2024.”
CR: “But you have a bureaucracy that is dead set against him. And the rhetoric amounts to a very odd claim. They essentially say: ‘We want to keep him off the ballot, we want to put him in prison, we want to bankrupt him so he can’t become the president, even if the people support him. We want to deprive the people of making the decision.'”
CR: “So you want to take it out of the realm of politics and into the realm of administrative justice or the criminal justice system, and adjudicate it in that way on bogus pretexts.”
CR: “Who actually rules in this country? Is it the American people who get to decide by their vote who represents them in the government? Or is it the permanent bureaucracy that has accumulated so much power?”
CR: “I’m of the mind that the people should decide, not the bureaucracy. And this is a contest where Democrats are saying essentially we have to destroy democracy in order to save democracy.”
Evidently there’s no undemocratic Rubicon Democrats won’t cross, no bridge they won’t burn, to destroy democracy in the name of saving it from Orange Man Bad.
Happy Ides of March! You might want to avoid knife-wielding Romans today. Trump trial news, lots of Russo-Ukrainian War news, transexual madness starts to recede, and more Disney missteps. It’s the Friday LinkSwarm!
Biden’s proposed budget is going to lower the deficit by $3 trillion. By which he means it will grow by $16 trillion.
Following yesterday’s release of Biden’s $7.3 trillion budget, the Biden administration bragged about lowering the deficit by $3 trillion over the next decade – an average of 0.8% of GDP over that period.
This would consist of roughly $2.6 trillion over 10 years in additional spending programs, offset by around $4.8 trillion in tax increases over the same period. Most of the tax and spending proposals have been included in prior budget proposals from the White House, according to Goldman’s Alec Phillips, however there are several new items.
The budget would increase the corporate alternative minimum tax on book income from 15% to 21%, raising $137 billion over the next decade. It also limits a corporation’s ability to deduct employee pay exceeding $1mm/year, raising $272 billion over 10 years. The largest proposed tax increases include; raising the corporate minimum tax from 21% to 28%, as well as a series of tax increases on high-income earners, including new Medicare taxes, and a new 25% minimum tax on incomes over $100 million, raising $500 billion over the next decade.
Of course, it has zero chance of passing under the current Congress – but that’s not the point.
As one DC strategist wrote in a morning email noted by CNBC’s Brian Sullivan, the budget deficit will still grow by another $16 trillion over the next decade – and that’s with aforementioned tax hikes.
Without them, the deficit grows to $19 trillion.
In short, talk of ‘$3 trillion saved’ is total bullshit in the grand scheme of things, given how much the national debt will grow in the best case scenario.
The judge overseeing the Georgia election-fraud case struck down six counts in the indictment on Wednesday finding that the language in the counts didn’t provide “sufficient detail” for former president Donald Trump and more than a dozen other co-defendants “to prepare their defenses intelligently.”
The counts that Fulton County Superior Court judge Scott McAfee struck down all involved allegations that some of the defendants in the case solicited various Georgia elected officials to violate their oaths of office and to unlawfully appoint pro-Trump presidential electors.
The six counts struck down by McAfee on Wednesday involved Trump, his former White House chief of staff Mark Meadows, and lawyers Rudy Giuliani, John Eastman, Ray Smith and Bob Cheeley. The defendants were accused in the various counts of soliciting elected members of the Georgia house and senate and Georgia secretary of state Brad Raffensperger to violate their oaths “to unlawfully appoint presidential electors.” Trump and Meadows also requested that Raffensperger “unlawfully decertify” the 2020 presidential election, according to two of the counts that McAfee struck down on Wednesday.
Fani Willis ruling: She can stay on the case despite her numerous ethical lapses and bias, but her boytoy Nathan Wade has to go, so he’s stepping down.
“Judge Sets Trial Date for Hunter Biden’s Federal Gun Case.” “U.S. district judge Maryellen Noreika ruled the trial will start on June 3 at a status conference with Hunter Biden’s attorneys and special counsel David Weiss’s team of prosecutors.”
And another one. “Kaluga Oil Facility Hit By Drones.” I know a lot of previous Ukraine drone strikes on oil facilities hit storage tanks. It can be hard to tell with the quality of videos, but in both of these videos, it appears that these recent strikes are hitting either the cracking or fractional distillation towers, which are much higher value targets and more difficult to replace.
The Biden admin knows that US military personnel will not be safe in Gaza, but millions of dollars will be spent to build a pier to send aid that the Gazans don’t even want and that someone in the admin hopes will become a “commercial facility.”
That’s what they think “American leadership” looks like.
Apart from wasting taxpayer money, this is building infrastructure that, unless Israel finishes off Hamas, will fall into the hands of terrorists.
Also, it will take 60 days to build (at least), by which time Israel should have finished pounding Hamas into a thin paste. It’s stupid piled on top of stupid.
I haven’t paid much attention to Robert F. Kennedy, Jr.’s independent presidential run because I doubt it’s going to be on enough state ballots to even play a spoiler role. But the idea that he’s thinking of picking NFL quarterback Aaron Rodgers as his running mate seems extra stupid. Yes, he’s won a Super Bowl and is a four-time MVP, is 40 years old (and thus constitutionally eligible to serve, but what the hell does an NFL quarterback know about running the country? Also, since Rodgers is under contract to the Jets, won’t having to play NFL football preclude him from actively running as VP pick?
Crazy white boy Shuan King is now a Muslim.
Breaking: BLM hoaxer Shaun King and his wife have converted to Islam. King identifies as black and previously identified as a Christian pastor. He regularly uses his large social media platform to threaten people.
“Captain Marvel 3, Ant Man 4, Eternals 2All Cancelled.” Second time to break this out this week:
Related: Just about all of the $71 billion Disney spent to acquire Fox was essentially wasted. They got into a bidding war, and then “they don’t use the catalog that Fox has that they were given.”
In the middle of trial, New York prosecutors abruptly dropped their case Wednesday against three collectibles experts who had been accused of scheming to hang onto and peddle the pages, which Eagles co-founder Don Henley maintained were stolen, private artifacts of the band’s creative process.
In explaining the stunning turnabout, prosecutors agreed that defense lawyers had essentially been blindsided by 6,000 pages of communications involving Henley and his attorneys and associates. Prosecutors and the defense got the material only in the past few days, after Henley and his lawyers apparently made a late-in-the-game decision to waive their attorney-client privilege shielding legal discussions.
In waving attorney-client privilege, it looks like Henley made himself a prisoner of his own device…
