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Pinkerton: What Inflation Does and What to Do About It — from Someone Who Lived Through the Great Inflation of the 1970s

Even as prices were rising–gasoline, for instance, jumped by about 20 percent in the first two months of the Biden presidency–the public was advised to stay calm.

Sample March 10 headline from the reliably pro-Biden New York Times: “Inflation Fear Lurks, Even as Officials Say Not to Worry.” The article quoted Jerome Powell, chairman of the Federal Reserve, saying that the price-spikes were nothing to be concerned about. According to Powell, “There’s a difference between a one-time surge in prices and ongoing inflation.” The Times explained that Powell “expected the coming increase to be transitory.”

The same article quoted Kathy Bostjancic of Oxford Economics saying, “Outside of another buoyant advance in energy prices in February, consumer price inflation remains very tame.” And the piece also quoted JP Morgan Chase CEO Jamie Dimon saying of inflation, “I wouldn’t worry too much about it.”

Yet then a funny thing happened: Inflation happened. On July 13, we learned that the Consumer Price Index rose 5.4 percent over the preceding year, and on July 14, we learned that the Producer Price Index surged 7.3 percent over the previous 12 months. At these rates, prices would double in the next 10 to 15 years. Or, to put that another way, the value of a dollar would be cut in half.

More recently, some of those, uh, experts have had a change of mind. For instance, Dimon said on July 14, “The inflation could be worse than people think.” He added, “I think it’ll be a little bit worse than what the Fed thinks. I don’t think it’s only temporary.” And on the 15th, Treasury Secretary Janet Yellen allowed, “I think we will have several more months of rapid inflation, so I’m not saying that this is a one-month phenomenon.” Still, she insisted that price increases will reach “normal levels” over time.

We are all free to wonder, of course, why we should now believe the same experts who were wrong in the past.

U.S. Secretary of Treasury Janet Yellen testifies during a Senate Appropriations Subcommittee hearing on June 23, 2021 in Washington, DC. (Shawn Thew-Pool/Getty Images)

In the meantime, Republicans, who had been warning about inflation ever since the Biden spending binge began, have been in full throttle, blaming inflation on Democratic spending and warning of more price-hikes. Said House Minority Leader Kevin McCarthy (R-CA), “This is a tax on every single American. It doesn’t matter what product you’re buying, it costs you more money. What government is doing, it’s creating inflation.” And speaking of the big $1.9 trillion Biden stimulus package enacted in March, McCarthy, thinking ahead to the next midterm election, recalled: “It was passed just along party line with only Democrats voting for it.”

Bob Luddy, writing for The American Spectator, laid out some of the numbers underlying the new inflation:

Government spending is ballooning our national debt, which already exceeds $28 trillion. The federal government has collected on average 17.4 percent of GDP in taxes over the past 50 years, including 16.3 percent of GDP in 2019, but it is currently spending well in excess of that, including 36 percent of GDP in 2019 and 44 percent of GDP in 2020.

But wait! There’s likely more spending coming: As Politico Playbook reported on July 15, Democrats are having a “love fest” over their new $3.5 trillion budget plan: “President Joe Biden received multiple standing ovations during a private lunch [in the Capitol] where not a single [Democratic] senator complained about the price tag.”

Indeed, speaking for the Democrats is Sen. Bernie Sanders, the democratic socialist from Vermont, also the chair of the Senate Budget Committee and the principal architect of the new plan. Asked about inflation on CNN, Sanders was mostly dismissive: “I am concerned about inflation, among many other things.” And he added, “As I think you know, this bill, this 3.5 trillion, and then there’s another 600 billion in a so-called bipartisan infrastructure bill, will pay for itself.”

So just as you might have expected, Sanders isn’t really worried about inflation; his mind is on other things.

Yet for others, a new conventional wisdom is settling in: Inflation is here to stay. Hence this July 14 headline from CNN: “Why inflation may not go away anytime soon.” (Now they tell us.)

Still, for his part, Fed Chairman Powell is still a believer in his non-inflation promises. As he said on the 14th, inflation “will likely remain elevated in coming months” before “moderating.”

Powell’s faith that inflation is not a problem drew a tart comment from Breitbart News’ John Carney:

In a heartening demonstration that hope springs eternal, Fed chair Jay Powell went before Congress today to say that despite the Consumer Price Index and Producer Price Index coming in much hotter than expected, he remains untroubled. Sure the Fed underestimated the power of the inflationary forces that the combination of zero interest rates, $120 billion a month in bond purchases, and a promise to ignore inflation would summon forth from our darkest path. But the public should “have faith,” as Powell put it, in the Fed’s ability to stomp down inflation if things get bad enough.

And of course, some Democrats, such as Rep. Alexandria Ocasio-Cortez of New York and Rep. Maxine Waters of California, insist that inflation is nothing to worry about.

Yet Republicans weren’t buying it, even as they were thinking back to previous eras of inflation.

Sen. Ted Cruz of Texas tweeted on July 13, “It’s like we’re reliving the worst part of the 70’s all over again.” Cruz, born in 1970, can have only childhood memories of that decade and yet in that decade, inflation was so severe that even for the young, bad memories of inflation were deeply etched.

We might consider: In 1970, the price of a gallon of gasoline was 36 cents, while in 1980 it was $1.19. In other words, the price of gas more than tripled. Even a kid would remember that.

Moreover, during the 1970s, a gallon of milk went from $1.32 to $2.16. And the median home price jumped from $24,000 to $58,000.

To consider inflation in a more precise statistical form, we can turn to the Labor Department’s Consumer Price Index (CPI). For its data-crunching purposes, the department takes the years 1982-84 as a baseline, assigning a baseline value of 100, and then it calculates prices before and since. By this measure, in 1970, the CPI stood at 38.8, which represented a 5.8 percent increase over 1969. A decade later, in 1980, the CPI stood at 82.4, which was a 13.5 percent increase over 1979.

In other words, during the ’70s the CPI more than doubled, from 38.8 to 82.5, as did the annual rate of inflation, from 5.8 to 13.5.

So what was the cause of this inflation? Most experts attribute it to the overheating of the economy due to the twin federal spending bulges of the late 1960s: the Vietnam War (an actual foreign war) and the War on Poverty (a surge in domestic spending). In other words, the U.S. was suffering from runaway Keynesianism, that being the economic doctrine that had guided the country since the 1930s.

What It Was Like Living With Inflation–and How It Was Ended

This Baby Boomer author well remembers the 1970s. During that decade, rising prices were a constant topic of discussion, often mentioned in political cartoons; for instance, one showed inflation as the shark from the 1975 movie Jaws, while another showed it sinking the economy altogether. And one poignant cartoon played on the impact of inflation on savings, draining away purchasing power: An older man, beset by high prices, says to his wife, “Here’s a bit of nostalgia for you. I’m saving exactly the same amount per week now as I did when I was in grade school.”

“But on the Average, We’re Doing Okay,” 1970. Published in the Washington Post, May 22, 1970. Graphite, India ink, and opaque white over graphite underdrawing. (Herbert L. Block Collection, Prints and Photographs Division, Library of Congress)

Popular unease over inflation soon led to a political response. In August 1971, President Richard Nixon imposed temporary wage-and-price controls. Over the next few years, these bureaucratic controls came in and out, applying to some sectors and not others. The predictable result was chaos. Soon the economy was suffering from shortages, as producers stopped producing in the face of too-low prices. Back then, legendary TV comedian and host Johnny Carson was using his nightly 90 minutes to joke about shortages.

Moreover, as inflation compounded with price controls to produce economic inefficiency, even sectoral breakdowns–such as the epic gasoline lines of 1973-4 and 1979–the result was stagnation, as well as inflation, which came to be known as stagflation.

In this Dec. 23, 1973, photo, cars line up in two directions at a gas station in New York City. Of all the bad memories seared into the American consciousness from the early 1970s, the never-ending lines at the gas pump has to top the list. (AP Photo/Marty Lederhandler)

Stagflation led to a national funk. Back then, another unfortunate oft-heard word was “malaise,” which the White House of President Jimmy Carter used on itself in 1979. And as another political cartoon had it, inflation and recession were two wild horses, galloping together.

During that bleak decade, books on the topic of inflation became important conversation pieces; indeed, socioeconomic thinking turned dark, as long-memoried observers recalled the catastrophic hyperinflation of Germany in the 1920s, which helped pave the way for Hitler to come to power in 1933. (Interestingly enough, the centennial of the onset of that ill-starred hyperinflation came this past June.)

So what happened to the Great Inflation of the 1970s, which spilled over into 1980, the last full year of Jimmy Carter’s presidency? In that year, a new president, Ronald Reagan, was elected, defeating Carter by a wide margin. Then inflation, having peaked at 13.5 percent under Carter, fell dramatically under Reagan, bottoming out at a tiny 1.9 percent.

President Jimmy Carter dropped by a meeting of business leaders in Washington on March 29, 1979, asking their help in controlling inflation. From left: Willis Alexander, vice president of the American Bankers Association, center; Carter; and Tom Murphy, a General Motors Company executive. (AP Photo/Dennis Cook)

We might ask: After a decade of bad news about inflation, why the good news? One positive factor was the tight-money policy of Federal Reserve Chairman Paul Volcker, who was appointed to the post by a desperate Carter in 1979 and then reappointed by Reagan in 1983.

Yet another factor, too, was the opening up of the economy. And what do we mean by that? We mean that if start with the standard definition of inflation–“too many dollars chasing too few goods”–then we can see that there are two ways to reduce price-rise pressures: first, contract the supply of dollars (which happened under Volcker’s Fed); and second, expand or open up the supply of goods.

As liberal writer Michael Tomasky-who laments, of course, the rise of Reagan–conceded in the New York Times two years ago, “Inflation was Keynesianism’s Achilles’ heel, and the supply-siders aimed their arrow right at it.”

So that’s what Reagan did bigly: he expanded supply. His guiding policy idea after all–inspired by Rep. Jack Kemp (R-NY), economist Arthur Laffer, and polemicist Jude Wanniski–was known as supply-side economics. (Reagan was further inspired, of course, by the larger school of free-market economists, from Adam Smith to Milton Friedman.)

In office, the 40th president enacted a bold agenda of supply-side policies. These included, of course, tax-rate cuts, and yet they also included additional spending for tech, as well as deregulation that helped along something that would become known as the Internet.

Thus in so many ways, Reagan enlarged the economy’s supply side; that is, the dollars were chasing more goods not fewer, and so inflationary pressures eased.

And so that’s how Reagan defeated stagflation; he tightened money and loosened supply. Thus the Gipper’s economic success speaks for itself: Even as inflation fell, unemployment fell too, and the economy grew by a third.

Ronald Reagan emphasizes a point with his finger during a speech at the World Congress Center in Atlanta on Nov. 16, 1979. Reagan said President Carter has turned inflation and energy into national disasters and says the problems can be solved if he is elected president. (AP Photo)

So now to today. Maybe once again we need supply-side expansion. However, it doesn’t appear that President Joe Biden agrees. Yes, as a young senator from a swing state, Biden shrewdly voted for Reaganomics in the ’80s, and yet as president four decades later, one of his first moves was to shut down the Keystone Pipeline, even as his administration took additional steps to stymie energy supplies. So it’s no wonder that gas prices have gone up, just as they did in the ’70s.

More broadly, by reversing the Reagan formula, Biden seems happy to constrict the supply side with new taxes and regulation, even as he cranks up the demand side with more spending. So inflation is already here, and stagflation looms dead ahead. (In fact, here at Breitbart News, this author has chronicled the many ways in which Biden seems determined, or at least destined, to repeat Jimmy Carter’s policies.)

To be sure, many MSM-approved experts are still saying that Biden is doing fine. And yet few surviving Baby Boomer liberals today are sounding the alarm, warning younger liberals-who have no memory of the Great Inflation of the ’70s, and not enough book-learning, obviously-about the tidal wave to come.

One such warning voice comes from Ed Kilgore; writing in New York magazine, he called inflation “poison for progressive politics.” And another warner is Timothy Noah; in the pages of The New Republic, he declared, “Inflation is death to progressive governance because it makes people feel that the government is spinning madly out of control.”

Interestingly, both writers took on a notably resigned tone; that is, neither seemed optimistic that the youngers were going to heed the advice of their elders. We can observe: As with so many things, every new generation seems to think that the old rules apply only to geezers; for the young, This time it’s different. And this is how each generation usually learns the hard way.

Yet in the meantime, over the next few years, the broad mass of voters-the folks that Kilgore and Noah are worried about-will get a say. And if history is a guide (and it is), the folks won’t like stagflation.

In fact, instinctively, many voters will be looking to the supply-side, thinking about not only tax cuts and more energy as a source of growth, but also about other supply-expanding policies. For instance, there’s Operation Warp Speed, which lights a beacon on the path toward the fast-track production of innovative medicines. And there’s space tourism, which could be the launchpad for a host of new space ventures and industries. These and other tech breakthroughs would increase supply, and thus would help hold down prices.

Yet in the short run, as we look for historical precedents to inform our political thinking, we might look back to the political capper on the 1970s, which was the 1980 election. In that year, Jimmy Carter’s demand-side pessimism was pitched against Reagan’s supply-side optimism.

Reagan won that election in a landslide, and that victory provides a promising template for 2024.

Originally found on Breitbart Read More




Jameela Jamil Shares Fight Training Video for ‘She-Hulk’ Role

Jameela Jamil is showing off her kick ass fighting skills!

The 35-year-old The Good Place alum took her Twitter on Friday (July 16) to share a video of herself training for a fight scene, officially confirming that she will be starring in Disney+’s upcoming She-Hulk series.

Click inside to watch the video!

“GAH! I’ve peaked in silliness. I’m so excited! 💚 #Marvel #MCU #SheHulk #AnythingIsPossible,” Jameela tweeted along with the video of herself training.

Last month it was reported that Jameela had signed on for a “major role” in the upcoming Marvel series.

It was previously announced that Tatiana Maslany would be playing the title character in She-Hulk, which is a legal comedy centering on Jennifer Walters, an attorney who has similar powers to her cousin, Bruce Banner/The Hulk.

Mark Ruffalo is also set to reprise his role as The Hulk and Tim Roth will also be returning as The Abomination.

The cast also includes Hamilton‘s Renee Elise Goldsberry, who will be playing a character named Amelia and Ginger Gonzaga as She-Hulk’s best friend.

GAH! I’ve peaked in silliness. I’m so excited! 💚 #Marvel #MCU #SheHulk #AnythingIsPossible pic.twitter.com/9KQT2VOhPh

— Jameela Jamil 🌈 (@jameelajamil) July 16, 2021

Originally found on Just Jared Read More




Coco Gauff Withdraws From Tokyo Olympics After Testing Positive For Covid

American tennis star Coco Gauff announced Sunday she has tested positive for Covid-19 and will withdraw from the upcoming Tokyo Olympics.

Originally found on Forbes Read More




Florida Bath and Body Works thief used bear mace on mall patrons, police say

A Florida man stole candles from a mall store and sprayed dozens of patrons with bear mace repellent before escaping, police said.

The theft happened Saturday afternoon at a Bath and Body Works store in a mall in the Doral suburb west of Miami, investigators said. The unidentified suspect entered the store, filled a bag with candles and then started spraying people with mace.

“This is an only in Miami story,” Doral Police spokesman Rey Valdes told the Miami Herald. “You can’t make this up.”

BATH & BODY WORKS STAYING STRONG WITH CULT-LIKE FOLLOWING

About 35 people were affected. Some were taken to hospitals for treatment, including the store manager, but officials were not sure how many or whether any had to be admitted. Bear mace is a strong irritant to a person’s eyes and respiratory system.

A portion of the mall was evacuated after the macing Saturday. The man believed responsible got away in a cab.

The suspect could face numerous armed robbery and aggravated battery charges once he is arrested, Valdes said.

Originally found on Read More




Radio Personality Bobby Bones Marries Caitlin Parker in Tennessee!

Bobby Bones is married!

The 40-year-old radio personality and American Idol mentor tied the knot with fiancée Caitlin Parker over the weekend at their home in Tennessee on Sunday, July 18.

“Greatest night of my life . 💍 ❤️ 👰‍♀️. Love you @caitcparker,” Bobby captioned on Instagram with one of the photos from their wedding.

Bobby and Caitlin also spoke to People about their nuptials, and revealed their bridal party included tennis star Andy Roddick, Abbey Smyers and Amy Brown.

The couple’s two dogs Stanley and Eller, also walked down the aisle and Bobby was a bit worried if they’d pull it off.

“We’re rooting for them, but it’ll be a game-time decision,” he joked.

For their wedding, Bobby wore a custom suit with bow tie by Alton Lane and Caitlin wore a Galia Lahav gown.

The couple announced their engagement in October.

Originally found on Just Jared Read More




Seventh inning rally lifts Rays over Braves, 7-5

ATLANTA — Tampa Bay is making the most of its knack for comebacks to stay close in the AL East.

Yandy Diaz homered during a four-run rally in the seventh inning and the Rays beat the Atlanta Braves 7-5 on Sunday.

The Rays trailed 3-0 after four innings and 4-3 before completing their 28th come-from-behind win to win two of three in the series. It is the second-most comeback wins in the majors to the 29 by the AL East-leading Boston Red Sox with 29, the team Tampa Bay is chasing.

“There’s no quit in us,” said Kevin Kiermaier, whose double in the seventh tied the game at 4. “Just don’t ever count us out, no matter what, until that 27th out is made.”

Kiermaier said he’d like to see the Rays start stronger in games to boost their chances of catching Boston.

“We’d much rather get out to a quicker start but that’s just kind of how it’s been as of late,” Kiermaier said. “It takes a few more innings for us to get our momentum going.”

Kiermaier caught a long drive by Dansby Swanson before crashing into the center-field wall to end the fourth. He also stole a base.

The Braves (45-47) have not been above .500 this season but trail the first-place New York Mets by only four games in the NL East.

“I still feel like we’re capable of winning the division, honestly,” manager Brian Snitker said. “We’re in it till we’re out of it. … I’m still waiting to get on a run.”

Joey Wendle singled and scored on Kiermaier’s double off A.J. Minter (1-4) to tie it at 4 in the seventh. After Kiermaier stole third base, Austin Meadows’ sacrifice fly to gave Tampa Bay the lead.

Diaz added to the lead with his two-run homer off Luke Jackson.

“That’s two big wins we pulled out of here,” Rays manager Kevin Cash said. “We just collectively as a group came back.”

Wander Franco’s third homer in the sixth off Braves starter Drew Smyly made it 3-all.

Tampa Bay starter Rich Hill allowed three runs in four innings. Left-hander Jeffrey Springs (5-1) gave up one hit while recording two outs. Pete Fairbanks pitched the ninth for his fifth save, including two in the series.

Ozzie Albies doubled home Freddie Freeman in the first to put Atlanta ahead 1-0.

The Braves added two runs in the fourth. Guillermo Heredia hit an RBI double and following an infield hit by Smyly when Hill didn’t cover first base, Joc Pederson’s bases-loaded groundout drove in a run for a 3-0 lead.

Meadows’ sacrifice fly drove in one run in Tampa Bay’s two-run fifth. Brandon Lowe led off the inning with a single and scored from third on a wild pitch from Smyly.

Pederson, traded to Atlanta from the Chicago Cubs on Thursday, drove in two runs with two hits in his second start as the Braves’ right fielder and leadoff hitter.

TRAINER’S ROOM

Cash said RHP Chris Archer (right forearm tightness) showed encouraging velocity in Saturday’s minor league rehabilitation appearance for Triple-A Durham. Archer allowed two runs on three hits in 1 2/3 innings. He had two strikeouts. “He had a good fastball, good velocity … and he showed a slider at times that was a Chris Archer slider.”

UP NEXT

Rays: LHP Ryan Yarbrough (6-3, 4.30) will try to extend his streak of 12 appearances, including nine starts, without a loss when the Rays open a home series against the Baltimore Orioles on Monday night. Yarbrough’s last loss came on April 30 against Houston.

Braves: Rookie LHP Kyle Muller (1-2, 3.45) is expected to be recalled from Triple-A Gwinnett to start when Atlanta opens a three-game series against Yu Darvish (7-3, 3.09) and the San Diego Padres on Monday night.

Originally found on Read More




It’s National Ice Cream Day 2021, And No Cows Are Allowed

How challenger brands Sacred Serve and Brave Robot are serving up quality desserts without the dairy.

Originally found on Forbes Read More




Harris Won’t Quarantine After Meeting Texas Democrats Infected With COVID-19: Spokesperson

Vice President Kamala Harris’ office said she will not quarantine after meeting with Texas Democrat lawmakers who recently tested positive for COVID-19.

In a statement on late Saturday, Harris spokeswoman Symone Sanders said it “was determined the Vice President and her staff present at the meeting were not at risk of exposure because they were not in close contact with those who tested positive and therefore do not need to be tested or quarantined.”

Harris met with some Texas state legislators on July 13 after they fled the state to deny Republican state lawmakers quorum to start a special legislative session. The Democrats said they had no other choice but to leave Texas to stop the passage of an election overhaul bill that’s favored by the GOP, while Texas Gov. Greg Abbott and other senior Republicans have said that they will be arrested and detained when they return to the Lone Star State.

The Texas State House Democratic Caucus confirmed Saturday that three Democrat members tested positive for the CCP (Chinese Communist Party) virus. It came after they traveled to Washington via a chartered flight and provided a photo of themselves—maskless—on the plane.

“The House Democratic Caucus is following all [Centers for Disease Control] guidance and protocols. This is a sober reminder that COVID is still with us, and though vaccinations offer tremendous protection, we still must take necessary precautions,” Caucus Chairman Chris Turner said in a statement on Saturday.

Sanders furthermore said that “the Vice President and her staff are fully vaccinated” and don’t appear to be fearful of contracting the virus.

Harris on Wednesday appeared alongside President Joe Biden and German Chancellor Angela Merkel at an event at the White House.

Over the weekend, unnamed White House officials said Harris had a scheduled medical appointment at a Washington-area hospital on Sunday, which they said was unrelated to the COVID-19 diagnoses. The Epoch Times has contacted the White House for comment.

Meanwhile, Texas Attorney General Ken Paxton, a Republican, told Newsmax on Saturday that the Democrats could be “arrested as soon as they step back on Texas soil.”

“We have a minority of Democrats who decided that they are not going to let any other legislator vote, so they’re not even going let other legislators do their duty,” he added. “It’s clearly a violation of the law.”

But Texas Democrats said their move was necessary to prevent the passage of the GOP-backed election bill.

Rep. Trey Martinez Fischer (D-Texas) told CNN: “The message is very clear: America, we need to wake up, we need to preserve our democracy, we need a federal voting rights solution, and we need it now.

“This is a now or never moment. We’re holding the line in Texas, and we’re going to fight with all our might. But even if we were to fix this problem in Texas, it doesn’t solve the problem for the rest of the nation,” he said.

Republicans, meanwhile, said the bill is needed to protect future elections and restore the public’s confidence in them.

Originally found on Epoch Times Read More




Cher’s ‘Moonstruck’ Co-Star Nicolas Cage Shared A Funny Story From Filming The Movie

Cher checks out the sights with a group of her friends on Sunday afternoon (July 18) in Portofino, Italy.

The 75-year-old singer and actress wore a purple sequined top underneath a black blazer, as they checked out the city together.

Just the night before, Cher and her pals were spotted having dinner at I Gemelli restaurant.

Just recently, Cher‘s Moonstruck co-star Nicolas Cage shared a funny story from the filming the iconic 1987 movie.

“The only thing I remember on that movie was Cher and I freezing in Brooklyn in the winter at night,” Nicolas shared with USA Today while promoting his own new movie, Pig. “It was that whole big diatribe about ‘the snowflakes are perfect. The stars are perfect. Not us. Not us! We are here to ruin ourselves.’”

He added, “That was my favorite bit of writing by (screenwriter) John Patrick Shanley, this powerful soliloquy. That being said, our mouths were frozen and it was so hard to move. It’s very hard to act when you’re freezing.”

However, Nicolas holds a special place for Moonstruck.

“The truth is, I love Moonstruck. Now that I’m older, I see the value in (it),” he says. “I haven’t seen Moonstruck in a million years, but I think it’s powerfully romantic and I love all the performances.”

Moonstruck went on to win three Oscars, including Best Actress for Cher.

Check out 15+ pictures inside of Cher enjoying her time in Italy…

Originally found on Just Jared Read More




WashPost: ‘Centrist’ Biden Trapped by Pro-Migration Ideologues

“The basic tools of immigration enforcement — detention, deportation and strict bans on who can enter — remain … unacceptable to former activist leaders who now hold key positions in the White House,” the newspaper reported July 17.

Biden is “in a vise, caught between the [politically] costly reality of a historic border influx and supporters who erupt in anger when his administration hints at tighter controls,” the article claims.

Amid the rising cross-border inflow, Biden is looking for ways to improve his sinking migration polls, the newspaper reported:

The official, who maintains close ties to the Biden team, described the president as “super concerned” about the political ramifications of the tumult at the border. “He knows the damage this can do and what a gift this is to Republicans,” said the official, who like others spoke on the condition of anonymity to describe private discussions.

The report also included a comment from a border state Democrat who is endangered by his voters’ opposition to Biden’s semi-open border:

“Biden is a centrist, but he depends on his staff like any other president,” said Rep. Henry Cuellar (D-Tex.), who represents a border district and has urged the administration to toughen its approach. When it comes to immigration policy, Cuellar said, “the more ‘open borders’ vision is winning out at the White House.”

The article noted that at least one claimed moderate is leaving the administration, which “could mean more [pro-migration] ideological figures are in place, while relatively pragmatic ones are not.”

The article cited several of the former activists, including Alida Garcia, a long-standing supporter of Vice President Kamala Harris, and most recently, a top lobbyist at Mark Zuckerberg’s FWD.us investor group. The lavishly-funded FWD.us group runs a huge network of astroturf groups to surround Democrats — and Republicans — with pro-migration voices.

Another named activist was Tyler Moran, who previously directed the Immigration Hub group. That group was formed by billionaire amnesty advocate Laurene Powell Jobs.

The article did not mention Zuckerberg, Powell Jobs, or the investors who created FWD.us. The Washington Post is owned by Jeff Bezos, whose deputies have lobbied hard — often in cooperation with FWD.us — for the inflow of more consumers and white-collar workers.

The article also did not mention Alejandro Mayorkas, who was picked to run the Department of Homeland Security — with political support from FWD.us. His agency is now implementing a pro-migration policy by extracting migrants from many poor countries for use in the U.S. economy by Zuckerberg’s allies and other Wall Street investors.

The article also ignored Biden’s chief of staff, Ron Klain. Before being hired by Biden, Klain worked for two co-founders of Zuckerberg’s FWD.us.

Breitbart News has extensively reported on the investors’ influence over the progressives, and throughout the Biden administration, including in the Oval Office:

The article noted that the pro-migration faction is promising to fix illegal immigration by legalizing the illegal migrants by opening many bureaucratic and regulatory side-doors in the immigration law:

Administration officials also say they will reduce illegal migration by making it easier for temporary workers and immigrants’ relatives to come to the United States legally. They plan to implement a new system to expedite asylum claims. And they hope to expand the use of electronic monitoring, so migrants will not have to stay in detention while awaiting a ruling on their asylum claims.

But converting illegal migrants into legal migrants will only exacerbate the economic damage of migration on Americans’ job opportunities, workplace conditions, wages, salaries, and rents.

In general, migration moves wealth from employees to employers, from families to investors, from young to old, from children to their parents, from homebuyers to investors, from technology to stoop labor, from red states to blue states, and from the central states to the coastal states such as New York.

The administration’s record suggests that Biden sympathizes with both sides, and has been unable or unwilling to resolve the contradictions of his rhetoric or the policy battle between the rival West Coast investor faction and his East Coast moderate staffers.

Biden has repeatedly defended migration, he has not rebuffed the FWD.us and the other investors, and he has not rebuked Mayorkas and his other pro-migration deputies. His January amnesty bill includes nearly all of the investors’ demands, including a law that would allow Fortune 500 companies to hire an unlimited number of compliant foreign graduates and then pay them with government-provided green cards.

The breadth of investors who founded and funded FWD.us was hidden from casual visitors to the group’s website sometime in the last few months. But copies exist at the other sites.

Yet Biden has also repeatedly suggested steps to curb migration that his pro-migration deputies have ignored. In March, Breitbart reported:

In Biden’s first presidential press conference, on March 25, Biden appeared to reverse his administration’s border policy, saying that all migrant families should be sent back into Mexico: “They should all be going back, all be going back,” he said.

That dramatic statement was met with silence throughout the D.C. establishment and media …

Biden also hinted in his press conference that he would change policy on “Unaccompanied Alien Children” (UACs) in border shelters, saying, “I asked my team … [to] focus on the most vulnerable immediately,” Biden said.

Also, Biden has repeatedly called for a tight labor market that would raise Americans’ wages, even as his deputies are importing hundreds of thousands of cheap workers. In May, he declared:

Rising wages aren’t a bug; they’re a feature. We want to get — we want to get something economists call “full employment.” Instead of workers competing with each other for jobs that are scarce, we want employees to compete with each other to attract wrk. We want the — the companies to compete to attract workers.

[…]

Well, wait until you see what happens when employers have to compete for workers. Companies like McDonald’s, Home Depot, Bank of America, and others — what do they have to do? They have to raise wages to attract workers. That’s the way it’s supposed to be.

In May, Mark Krikorian, director of the Center for Immigration Studies, argued that the policy zig-zagging is just PR:

The administration would like nothing more than to fully implement FWD.us’ agenda — but it is just that they have political concerns. They’re not stupid, they read the polls, they know that immigration is the President’s major weakness with voters.

[…] It’s a theatrical performance where they pretend to be reluctant and ambivalent while the outside groups like FWD.us push them [for more]. That serves both of their purposes because the administration gets to say [to voters]; “Look, we’re not crazy, we’re in the middle.”

In other areas, Biden — or his deputies — are making 180-degree turns to fix declining poll numbers. For example, the White House is ditching its lax law-enforcement rhetoric so it can blame the GOP for the rising murder rate. It also seems to be backtracking on the public advocacy for racially divisive education curricula.

Still, while the GOP officials have been aggressively using Democrat-driven crime and racial divisiveness to rally their supporters, they have been loath to make the popular and non-partisan economic case against Biden’s wage-cutting, rent-raising, immigration policies.

Without a Biden intervention, the White House’s radical faction of entwined progressives and investors is now pushing harder to win a sweeping amnesty — and more — in a rushed budget reconciliation bill.

The escalation makes sense to investors who now gain from federal policies that encourage the export of manufacturing and research jobs to China and the import of consumer demand and real-estate customers from poor countries.

But in 2013, the investor push for amnesty backfired disastrously and cost the Democrats five seats in the Senate. That crushing defeat helped a New York real-estate investor to jump into the race and provided him with a GOP Senate majority for four years while Democratic leader Sen. Chuck Schumer fumed from the sidelines.

The Democrats may be heading for the same disaster in 2022 because of the investor-driven push for reconciliation amnesty in 2021.

For many years, a wide variety of pollsters have shown deep and broad opposition to labor migration and the inflow of temporary contract workers into jobs sought by young U.S. graduates. This opposition is multiracial, cross-sex, non-racist, class-based, bipartisan, rational, persistent, and recognizes the solidarity Americans owe to each other.

Originally found on Breitbart Read More