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Thursday, December 2, 2021

The Broken Clocks of Bidenflation

A broken clock is not necessarily right twice a day. A stopped clock is because it always says the same thing, and twice a day the hours and minutes glide past that point.
 
  
Breitbart Business Digest
December 02, 2021

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Biden to clamp down on cryptocurrencies…

 

Biden to clamp down on cryptocurrencies…
 

Today's Top Stories From the Breitbart News Desk

A broken clock is not necessarily right twice a day. A stopped clock is because it always says the same thing, and twice a day the hours and minutes glide past that point. But a clock may be slow, or fast, or simply running from the wrong starting point. In that case, it might not be right ever.

So it has been with the establishment media and many economists when it comes to inflation. When Donald Trump imposed tariffs on steel, aluminum, and imports from China, there was a seemingly unending number of articles, studies, and essays decrying the inflation that was sure to "squeeze the American consumer." We were told the price of televisions, cars, computers, and appliances would soar. When nothing of the sort happened—prices of many things, particularly televisions, fell after the tariffs were imposed—it still took years before the Very Smart People admitted they had been very wrong.

Fast-forward to this year. This time, the establishment went the opposite way. Economists assured us that inflation would stay subdued. And then they said it would be "transitory," as Fed Chairman Jerome Powell memorably put it. Janet Yellen soon adopted the word as her own. Joe Biden told us that no "serious" economist worried about inflation becoming unchecked.

We suppose some progress has been made. Instead of being wrong for years, this time the establishment caught on to its error after only nine or ten months. That's likely because the political costs of inflation were mounted. As the pollsters at Gallup said Thursday, 45 percent of American households say their financial situation has been hurt by inflation. Among households with annual incomes lower than $40,000, that number jumps to 71 percent. That's an untenable position for any politician but especially for one that considers himself progressive and ran promising to reduce the costs of living for middle and lower-income Americans.

Alex Marlow & John Carney
Breitbart News Network

 
 

TOP STORY

 
Watch: Team Transitory Collapses as Yellen Surrenders on Inflation
So much for the idea that inflation would be transitory. Treasury Secretary Janet Yellen on Thursday said she believed it was time to retire the word transitory when it comes to describing inflation and warned of the possibility that the Omicron variant could exacerbate inflation. "I am ready to retire the word transitory," Yellen said in an interview with Reuters. "I can agree that that hasn't been an apt description of what we are dealing with." On Tuesday, Fed chairman Jerome Powell said he was ready to "retire" transitory. Powell was one of the first government officials to use the word transitory to describe inflation. On Tuesday, Powell said it was not meant to indicate that inflation would be "short-lived" but rather to indicate that the transition to faster-rising prices was based on temporary economic constraints that would eventually be overcome. [Click here for more]
 

IN OTHER STORIES...

Bidenflation Stole Christmas: Inflation Causing Hardship During Holidays for Nearly Half of American Households
Inflation is inflicting financial pain on millions of U.S. households, with lower-income households the hardest hit, a Gallup survey released Thursday showed. The survey found that 45 percent of American households report that recent price increases are causing their family some degree of... [Click here for more]
 
Biden Administration Blames Omicron Variant for Supply Chain Woes
The Biden administration on Wednesday blamed the Omicron coronavirus variant for continued economic supply chain woes. As many laborers decided to accept larger government checks in 2021 instead of participating in the economy, resulting in a nationwide labor shortage, Commerce Secretary Gina Raimondo told CNN Wednesday the Omicron variant could also negatively impact... [Click here for more]
 
Japan Suspends New Reservations on All Incoming Flights
TOKYO (AP) — Japan has asked international airlines to stop taking new reservations for all flights arriving in Japan until the end of December as the country further tightens its border controls against a new coronavirus variant, the transportation ministry said Wednesday. It said the request is an emergency precaution amid growing concern over the spread of the new... [Click here for more]
 
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Known for his network of conservative Web sites that draws millions of readers everyday, Breitbart had one main goal: to make sure the "liberally biased" major news outlets in this country cover all aspects of a story fairly. Breitbart is convinced that too many national stories are slanted by the news media in an unfair way. Here, Breitbart talks about the key issues that Americans face, how he has aligned himself with the Tea Party, and how one needs to deal with the liberal news world head on.

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Mini-Magazine | The Story of the Marred Coin

 

Abandoned coins are something we have all encountered along our journey through life. Coins found on the sidewalk, in parking lots, along street curbs, or even those found hopelessly abandoned in busy intersections marred almost beyond recognition. Many women today are like those battered coins. They too have been scratched and dulled. They feel alone and run over. Some even have become so bent and broken that they see themselves as utterly worthless. They believe the lies they have been told. They believe that their past has destroyed any value they once had. Yet if we brought a marred coin to a bank, we would receive the full value of the coin regardless of its condition. The one who holds the coin determines its value. And in God's eyes, regardless of a past that has in some way broken our spirits, or bent our emotions, or battered the "little girl" inside, He too sees our full, precious value…

Read More...

EPHESIANS 2:4-9 (ESV)

"But God, being rich in mercy, because of the great love with which he loved us, even when we were dead in our trespasses, made us alive together with Christ - by grace you have been saved - and raised us up with him and seated us with him in the heavenly places in Christ Jesus, so that in the coming ages he might show the immeasurable riches of his grace in kindness toward us in Christ Jesus. For by grace you have been saved through faith. And this is not your own doing; it is the gift of God."

I am a little red-faced and anxious that underneath all my thoughts of Advent, I feel guilty that there is no fa-la-la-la-la anywhere. No "Here's how to have a Merry Christmas" hints, fail-safe, time-tested, and photo-shoot ready. But I have to remember: the holidays have turned into a trumped-up excuse to spend money, gain weight, help retailers, and try to make up for what we haven't given people all year long, or maybe all their lives long. The holidays have become a great attempt at atonement for our deficits with others and maybe our deficits with our souls. To find the Messiah, we probably need not look under the tree. Recently, I jotted a list from memory of the advent characters: Herod, Zechariah, Gabriel, Elizabeth, Mary, Joseph, John, wise men, shepherds, angels, Simeon, and Anna. And only after mulling over this cast for the story called advent for about a day, did I realize: I forgot Jesus. I forgot the Christ child….

Read More...
Submit a Prayer Request

Here's the thing about labels; you hear them and after some swirling and churning in your head, you find they can stick like super glue to your personhood. "Good for nothing, stupid, ugly, fat, privileged, poor, white-trash, high class, lazy, worthless, useless," you fill in the blank. Speaking of labels, have you ever heard of Rahab? She is the famous harlot who was responsible for hiding the Israelite spies sent by Joshua to scope out the Promised Land in Joshua chapter two. Without Rahab, there was no collapsing of the walls of Jericho and there was no Israelite stake thrust in that covenant ground. But there is something else about Rahab, she knew a thing or two about labels. She's a harlot, yes. But she's so much more than that. And she, like so many of us, had to figure out a way to climb out of the scandalous gutter that other people's labels and expectations had thrown her into. Here are just a few lessons she teaches us…

Read More...
Just in time for the Christmas season!
Are you joyfully anticipating Christmas, or do the myriad of activities and busyness of the season steal your Christmas cheer? Has loss or disappointment been weighing heavily upon you? As we wait in expectant hope for the celebration of our Savior's birth, all of us at Just Between Us would like to encourage you by helping your faith to flourish during this Advent season.
 
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Jill Briscoe was born in Liverpool, England, in 1935. Educated at Cambridge, she taught school for a number of years before marrying Stuart and raising their three children. In addition to sharing with her husband in ministry with Torchbearers at Capernwray in England, and in pastoring a church in the United States for thirty years, Jill has written more than forty books, travelled on every continent teaching and encouraging, served on the boards of Christianity Today and World Relief, and now acts as executive editor of a magazine for women called Just Between Us. Jill can be heard regularly on the worldwide media ministry Telling the Truth . She is proud to be called "Nana" by thirteen grandchildren. 


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