Category Archives: Economy

UK Unveils Harsh $13,000 Fine For Breaking Quarantine

uk fine

The UK witnessed new record coronavirus case numbers reported in a single day since May on Saturday, logging over 4,420 confirmed infections.

And now authorities are getting desperate, threatening severe law enforcement measures and penalties, with the latest being that those who test positive but refuse to self-quarantine can be hit with a fine up to $13,000 (or 10,000 pounds).

It comes after Prime Minister Boris Johnson confirmed the country is undergoing an “inevitable” second wave of infections on Friday.

“Obviously, we’re looking carefully at the spread of the pandemic as it evolves over the last few days, and there’s no question, as I’ve said for several weeks now, that we could expect, and we are now seeing, a second wave coming in,” Johnson said.

Zero Hedge

Herd Immunity Level in UK High Enough to Dodge Second Wave of COVID

French COVID Expert Rejects ‘Second Wave’ Fears, Calls Warnings “Fantasy”

MSM Hyping ‘Second Wave’ After Lockdowns Fail, Warns of Winter Virus

Canada’s Trudeau Creates Race-Based $221m Fund for Black People

blackface

Canadian prime minister Justin Trudeau has announced the federal government will be investing $221 million of taxpayer cash in a group to give loans to black entrepreneurs to start businesses.

Mr Trudeau made the announcement this week in Toronto at the HXOUSE organisation, a group that describes itself as a “Toronto-based, globally focused think-centre. Serving its community as an incubator and accelerator, it helps to foster innovation and opportunity for creative entrepreneurs.”

Of the $221 million, $93 million will be used over the course of the next four years to launch a new federal government programme, the Black Communities Entrepreneurship Program of Canada, newspaper La Presse reports.

Another $53 million will likely be set aside for a new fund to make money available int he form of loans only to businesses run by black entrepreneurs.

Breitbart

‘Blackface’ Trudeau Wants “Significant Penalties” For Online “Hate Speech”

More Trudeau ‘Blackface’ Videos Surface

Data Shows That Half of 2019 Donations to ActBlue Came From Untraceable ‘Unemployed’ Donors

actblue

Less than two months ahead of the presidential election – with concerns of foreign interference again at the forefront – a conservative political group is raising “serious concerns” about millions of donations reported by a major Democratic fundraising platform.

A  preliminary computer analysis by the Take Back Action Fund, obtained exclusively by Fox News, has found that nearly half of all 2019 donations to ActBlue were made by people claiming to be unemployed.

Action Fund President John Pudner questioned the veracity of those donations and called it a loophole that must be closed for the sake of election integrity.

“After downloading hundreds of millions of [dollars in] donations to the Take Back Action Fund servers, we were shocked to see that almost half of the donations to ActBlue in 2019 claimed to be unemployed individuals,” he said. “The name of employers must be disclosed when making political donations, but more than 4.7 million donations came from people who claimed they did not have an employer. Those 4.7 million donations totaled $346 million ActBlue raised and sent to liberal causes.”

Fox

CDC Employees Contributed To Democrat Platform ‘ActBlue’

Democrat ‘ActBlue Texas’ Caught Paying Out Small Sums to Hundreds of Individuals for Unknown Purposes

WSJ Admits Joe Biden Will Raise Taxes by Trillions

taxes

Joe Biden is a heavy favorite to be the next President, yet the media have barely paid attention to what he will do if he wins. We’ll try to fill that knowledge gap in the coming weeks, and a good place to start is his proposal for tax increases of more than $3 trillion over a decade. Let’s examine the unfine print:

Individual incomes: Raise the top marginal rate to 39.6%, from 37%. Repeal the $10,000 cap on the deduction for state-and-local taxes, giving a bigger break to places like San Francisco and New York. But limit the tax benefit of itemized deductions to 28% of face value, hitting higher earners.

Payrolls: Apply a 12.4% Social Security tax, split between workers and their employers, to all income over $400,000, with no cap. The current payroll tax comes off after $137,700 of income, but under Mr. Biden’s plan the levy would be limitless. No more polite fiction of Social Security as an “earned” benefit.

WSJ

FL single mother says children’s lemonade stand family’s only source of income

lemonadw

A single mother of four in Florida says her children’s lemonade stand is the family’s only source of income.

Erin Bailey’s kids are between the ages of 6 and 10.

“We are the best team in the world. That’s for sure,” Bailey said.

Every day, that team heads to the curb along Jog Road in Greenacres and does what American children have been doing for generations: setting up a lemonade stand.

The kids, and sometimes their friends, have been setting up the stand for months.

“They wanted to save up money for certain toys and things that they wanted,” Bailey said.

But the pandemic changed everything.

CBS17

The Fed’s Brilliant Plan: More Inflation, Higher Prices

fed

Federal Reserve Chairman Jerome Powell recently announced that the Fed is abandoning “inflation targeting” where the Fed aims to maintain a price inflation rate of up to two percent. Instead, the Fed will allow inflation to remain above two percent to balance out periods of lower inflation. Powell’s announcement is not a radical shift in policy. It is an acknowledgment that the Fed is unlikely to reverse course and stop increasing the money supply anytime soon.

Following the 2008 market meltdown, the Fed embarked on an unprecedented money-creation binge. The result was historically low interest rates and an explosion of debt. Today total household debt and business debt are each over 16 trillion dollars. Of course, the biggest debtor is the federal government.

The explosion of debt puts pressure on the Fed to keep increasing the money supply in order to maintain low interest rates. An increase in rates to anything close to what they would be in a free market could make it impossible for consumers, businesses, and (especially) the federal government to manage their debt. This would create a major economic crisis.

Infowars

Miami-Dade Labor Day Beachgoers, Businesses Face Fines for Mask Violations

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Both individuals and businesses could face hefty fines for violating coronavirus restrictions in Miami-Dade as beachgoers flock to the coast for Labor Day.

Officials in Miami-Dade, one of the areas of Florida hit hardest by the Chinese coronavirus, have warned residents and visitors to adhere to the safety guidelines outlined by the county. Failure to comply with even the most basic face covering requirements could cost hundreds in fines.

“We have fines countywide if you fail to follow the new normal rules,” Miami-Dade Mayor Carlos Gimenez (R) said. “$100 for individuals, $500 for businesses. Businesses that don’t follow the rules can and will be shut down.”

Breitbart

Baptist Church In Ca Has Been Fined Nearly $60,000 for Services During Lockdown

church

A Baptist church in California that is meeting despite coronavirus lockdown restrictions is pleading with their county government to relent after the fines leveled against them have racked up to nearly $60,000.

North Valley Baptist Church in Santa Clara, California, made headlines two weeks ago when senior pastor Jack Trieber released a viral video on Facebook asking Santa Clara County to “back off.” The video, which garnered millions of views, explained that his church was fined $5,000 for holding a morning service and $5,000 for an evening service during which congregants sang.

As The Daily Wire reported, Santa Clara County public health officials, who had slipped into one of their services to observe them, described the singing as “unlawful activity.” According to a four-page notice that was plastered on the church’s door, their group worship was an offense that they must “immediately cease.” The government also warned that “failure to do so will result in enforcement action by the county.”

Daily Wire

Bankruptcies Rise Despite Trillions in New Liquidity

cards

Misguided lockdowns have destroyed the global economy and the impact is likely to last for years.

The fallacy of the “lives or the economy” argument is evident now that we see that countries like Taiwan, South Korea, Austria, Sweden, and Holland have been able to preserve the business fabric and the economy while doing a much better job managing the pandemic than countries with severe lockdowns.

One of the most alarming facts about this crisis is the pace at which bankruptcies are rising. Despite an $11 trillion liquidity injection and government aid in 2020, stocks and bonds at all-time highs, and sovereign as well as corporate yields at all-time lows, companies are going bust at the fastest pace since the Great Depression. Why? Because a solvency crisis cannot be disguised by liquidity.

Trillions in liquidity are giving investors and governments a false sense of security, because yields are low and valuations are high, but it is a mirage driven by central bank purchases that cannot disguise how quickly companies are entering into long-term solvency issues. This is important because soaring bankruptcies and the rise in zombie companies means less employment, less investment, and lower growth in the future.

Mises.org

Collapsing US Universities and What We Can Do About It

universities

America’s universities have been taken over by the Left, but the way they are reacting to the fake Covid-19 crisis gives us a chance to reconstitute higher education on sound free market principles.

In the name of “diversity,” academic standards have been gutted. Here are some examples. Emily Walton, a sociology professor at Dartmouth, teaches her students about

“white blindness” Everyone learns, but I find that the small handful of white students in the class usually learn the most. That’s because for the first time in their lives, they begin to look at themselves as members of a racial group. They understand that being a good person does not make them innocent but rather they, too, are implicated in a system of racial dominance.

After spending their young lives in a condition of “white blindness,” that is, the inability to see their own racial privilege, they begin to awaken to the notion that racism has systematically kept others down while benefiting them and other white people.

Mises.ORG