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Economics Fox News WTF?!

Fox Host Says Milk Now Costs $11 A Gallon As A Result Of Inflation

Last time you went to the grocery store, how much did you pay for a gallon of milk?

I was in the grocery store on Wednesday and one of my purchases was a gallon of 2% milk, for which I paid $4.24.

But according to Fox News host Sandra Smith, she had to pay $11 for a gallon of milk in New York, Mediaite reports:

“You have the egg-o-meter, I have the milk-o-meter. I bought a gallon of milk last night. Granted we live in New York, things are higher priced than in a lot of other areas in the country. It is nearly $11 for a gallon of milk at a New York grocery store.”

Even in New York, the only thing you would pay $11 a gallon for is certain select organic brands of milk. But the average gallon costs nowhere near that, no matter were in the U.S. you happen to be.

According to the USDA’s ’s Agricultural Marketing Service, “the average price for a gallon of milk in NYC rose from $4.60 at the beginning of the year to $4.69 in March.”

Twitter users were only too happy to declare Smith’s statement to be complete bullshit, because it most certainly is.

Another day, another lie from Fox News. It’s their calling card.

 

Categories
Business Economics

‘Let’s Go Brandon’ Cryptocurrency Crashes – Has ZERO Value As MAGA Faithful Watch Their Money Vanish

Some of the MAGA faithful thought they’d found the perfect way to make money while also indulging their bizarre need to insult President Joe Biden with their childish “Let’s go Brandon” chant, which is actually just a publicly acceptable substitute for “F*ck Joe Biden.”

Of course, thanks to the First Amendment that right-wingers love to attack by banning books from schools and libraries, they already had the right to say almost anything they want about any public figure, including telling the president to go f*ck himself.

So it must have sounded like a Trumppublican dream come true when someone created a cryptocurrency and tagged it “LGB” to represent their favorite childish attack on the man who beat the brakes off their beloved Donnie Dotard, a.k.a. the twice-impeached one-term former president.

Their crypto coin dreams, however, have gone up in smoke, like nearly everything that carries the name of their tangerine god, according to Zachary Petrizzo of The Daily Beast:

The MAGA-themed “Let’s Go Brandon” Ethereum cryptocurrency has fallen on tough times.

So much so that the value of all 330 trillion coins totals just a few thousand dollars combined, according to the trading sites CoinMarketCap and Crypto, a far cry from the days of pro-Trump investors believing they could strike it rich in the ever-complex world of crypto.

That represents a 99.5 percent decline over the last 30 days, leaving a singular LGB coin effectively worthless.

99.5% decline in a mere 30 days. Hell, even Trump University lasted longer than that.

What happened? Simple: The creators of the LGB coin tried to tap into a thin vein of hatred that was certain to grow cold in short order:

“They tried to monetize on a viral outbreak. Did it surprise me when something without value shot up and immediately shot down upon release? No,” said David Silver, an attorney who has represented aggrieved crypto investors since 2014.

When the coin was first released in January of this year, it had what’s known as a “liquidity pool” value of $6.5 million, which isn’t too shabby for a new cryptocurrency that came out of nowhere.

Many investors are (as you’d expect) crestfallen, with one noting their 73 million coins now had a total value of $1.66, which isn’t enough to purchase so much as a swizzle stick at Starbucks.

But despite the collapse of LGB coin, the geniuses behind the failed idea tried to buck up their investors, sending out a tweet that read:

“Sometimes you just need to have faith and [hold on for dear life].”

Sounds like it’s time to rename “Lets go Brandon” coin to “Let’s go broke.”

 

Categories
Economics Fox News

WATCH Sean Hannity Get His A*s Handed To Him When He Lies About Gas Prices

Fox News host Sean Hannity proved that he’s terrible at debating and even worse when it comes to economics.

University of Chicago economist Austan Goolsbee was Hannity’s guest, and the host immediately began attacking President Joe Biden’s energy policy, remarking:

“He inherited energy independence, and we were a net exporter of energy, and now he’s begging OPEC.”

Goolsbee corrected Hannity:

“He inherited an economic downturn bordering on catastrophe and in times like that, the price of oil tends to go way down, that’s for sure.”

Trying to recover, Hannity told his guest:

“We need to focus. Did he or did he not inherit — well, three vaccines and monoclonal antibodies — did he also inherit that we were a net exporter of energy, and did he cut energy production by 40 percent? The answer is yes.”

Yet again, Goolsbee rebutted Hannity’s fact-free claim:

“No, he did not cut energy production by 40 percent. Energy production fell because we were in an economic catastrophe — (a) catastrophic downturn.”

Hannity tried to pivot, but only told another lie:

“No, he fired Keystone XL pipeline workers.”

Goolsbee:

“The Keystone pipeline wasn’t built yet, Sean. That had no effect on energy production.”

Growing more desperate as Goolsbee repeatedly fact-checked him, Hannity declared:

“Then why is he begging OPEC? Donald Trump didn’t beg OPEC. Why is he begging OPEC?”

Calmly, Goolsbee explained:

“He’s not begging OPEC. He convinced OPEC, and OPEC is increasing their production.”

The Fox host then went to another fabrication:

“They keep rejecting him.”

A clearly amused Goolsbee shut Hannity down by telling him:

“They didn’t reject him. They said they’re increasing production. Why are you complaining about that, Sean? You’re all over the map here. You were saying you didn’t like to pay high gas prices. I told you gas prices went down and Biden convinced OPEC to increase production, and then you said, ‘Why is he asking them to increase production?'”

People like Hannity hate facts. And they’re so used to lying and spreading conspiracy theories that it makes you wonder if they really believe the bullshit they’re spreading.

 

Categories
Economics GOP The Biden Administration

Lauren Boebert Tried To Zing Joe Biden On Inflation – It Did Not Go Well For Her

Colorado Republican Congresswoman Lauren Boebert has been a member of the House of Representatives for almost a year now, and yet she hasn’t accomplished a damn thing other than a few snarky tweets, a lot of posturing, and the occasional attempt at pretending she should be taken seriously.

Such is the case with a tweet Boebert (a.k.a. Bobo) sent out on the topic of inflation, which is indeed on the rise, due in large part to the pent up demand of consumers who stayed home for over a year during the worst of the COVID pandemic and are now on a spending spree. Increased demand leads to a rise in prices. It’s the basics of economics: Supply and demand.

But rather than provide any solutions, Boebert fired off this brainless post:

So Bobo is worried about the troops? Then why doesn’t she propose legislation that would raise their salaries? Because that would require her to do some work, and all she really wants to do is whine and try to score political points.

Boebert also neglected to mention that the Biden administration has done something to help every American family with children in the form of the expanded child tax credit, which is providing $250 to $300 per child for working parents across the country. Would Boebert be in favor of extending that tax break? Hardly! Her party has been the one fighting to do away with the child tax credit since it went into place.

The congresswoman was quickly swatted down on social media:

 

Categories
Economics Fox News Fox News Lies Money WTF?!

Multimillionaire Sean Hannity Says Americans Need To Work Two Jobs Instead Of Accepting Government Assistance

Fox News host Sean Hannity — who has a net worth of approximately $250 million and earns an annual salary of over $40 million — has a message for anyone who’s struggling to make ends meet or put food on the table for themselves and their family: Get a second job and don’t you dare accept any food stamps or other government assistance.

 

According to Media Matters For America, Hannity made the remarks about refusing government assistance on the Thursday edition of his radio show:

“Socialism will always end this way — with unfulfilled promises, lofty promises. You — you think it’s a great thing, ‘I don’t have to worry about these things anymore. Ah, thank goodness. Alright, I don’t have to worry about getting a college fund for my kids. I don’t have to worry about my healthcare. I even have government guaranteed retirement — I’m gonna have — I’m gonna have daycare if I have kids,’ blah, blah, blah.

“Sounds great — they’ll never pull it off because they can’t afford it. Socialism’s great until you run out of other people’s money.”

But the Fox host was just getting warmed up, giving a full-throated endorsement of predatory capitalism that creates billionaires but leaves children and veterans starving and homeless:

“And then after the promises are unfulfilled, then the next problem occurs — and that is — it results in dependency and more poverty.  And the last thing that you gotta calculate – depending on what manifestation this fully takes on in the end: How much freedom did you give up in the name of false security created by people that when you look deep inside, didn’t really want to promise anything. They wanted to make you dependent on them so they can stay in power. It’s that simple. That’s what is — that’s the game that they play. It sounds appealing.”

Yeah, freedom is so much more important than a roof over your head or something to eat. Sure, you’re starving and living in a cardboard box, but at least you have you FREEDOM! Try paying your bills with a big batch of American freedom and see how that turns out.

The solution, according to Hannity, is working two jobs. Because who needs sleep, right?

“Here’s my unsolicited advice to all of you, my wonderful radio family. Can’t do this show without you.

“Don’t rely on the government for anything. Rely on yourself. Go out, work hard. Work two jobs, like my parents did. Save as much as you can so you can make choices down the road.” 

So let’s take a closer look at Hannity’s math regarding the working two jobs suggestion:

You have two full-time (40 hours a week) minimum wage jobs that pay $7.25 an hour. That means you’ll earn $2320.00 a month. After taxes, you might see $2000 of that.

Multiply $2,000 by 12 and you wind up with $24,000, which is what you’re supposed to pay rent, buy groceries, and use for utilities, clothes, etc. with. How long is that going to keep your family afloat? And how long can most people work two jobs before they collapse from exhaustion?

Here’s a better idea: Tax rich assholes like Sean Hannity, Tucker Carlson, Rupert Murdoch, etc. at a 50% rate. Then take that money and invest in things like infrastructure, schools, health care, and food security.

Hannity is a greedy douchebag. He’s got his millions, and the rest of us can starve for all he cares.

Here’s the audio from Sean’s radio show: