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Thursday, September 5, 2024

'Iranian-backed plot to potentially assassinate Trump, Haley or Biden'

 Four days after former President Donald Trump came inches from death during a campaign rally, federal investigators interviewed a man charged in an Iran-backed plot to potentially assassinate the 45th president or two of his political rivals — President Biden or former Republican presidential candidate Nikki Haley, according to an FBI document made public Thursday.

Asif Merchant, 46, a Pakistani man charged in the scheme, recounted his dealings with handler Mehardad Yousef, according to a proffer agreement released by Sen. Chuck Grassley (R-Iowa), who obtained it from law enforcement whistleblowers.

Merchant was charged with a single count of murder for hire after he allegedly sent $5,000 to an undercover FBI agent while trying to hire a hit man, according to a complaint unsealed last month.

He was arrested on July 12.

The proffer described a meeting at a safe house inside Iran, at which Yousef and Merchant debated the advantages of indoor or outdoor attempts on a US politician’s life.

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Asif Merchant talked to the authorities as part of a proffer agreement.via REUTERS
Yousef “had drawn a diagram on a whiteboard to demonstrate to Merchant how an assassination could be conducted” and he also “drew a rectangle representing an area where a crowd would gather. At the top of the rectangle was a small box representing a podium whether the target could be located,” per the document.

Specifically, the document suggested that an indoor assassination attempt would be made with a pistol and a “far” or “outdoor” shot would be taken with a long-range rifle, per Merchant’s account.

Iran has been targeting Donald Trump.MICHAEL REYNOLDS/EPA-EFE/REX

Merchant also gave Yousef details about one of Trump’s rallies, including the number of cameras present along with details of security guards, motorcade size, and more.

“Merchant believed that both the near and far options would not be successful due to security, but assessed that there was a 50% chance that either tactic would succeed,” the document read.

Everything we know about the Trump assassination attempt

A full breakdown of the shooting Saturday. Crooks’ car was reportedly found nearby with explosives inside.

The Pakistani man repeatedly denied getting specific target information from Yousef, though his handler dropped some hints about who it could be.

“Merchant asked Yousef what he should say to the mafia if they asked who would be the object of the killing,” the document read. “Yousef stated that it could be Donald Trump, then paused, and stated that it could be Joe Biden or Nikki Haley, or politicians, military people, or bureaucrats.”

Iran has been itching for revenge over the killing of Gen. Qasem Soleimani.via REUTERS

Merchant added that he “understood” the killing would be revenge for the airstrike that killed top Iranian Gen. Qassem Soleimani, which Trump ordered in January 2020.

The document also reveals Merchant trekked to New York City and scouted a Mexican club to “find and assess people who could conduct reconnaissance or facilitate communications on behalf” of the Iranian Revolutionary Guard Corps (IRGC).

“This dangerous murder-for-hire plot exposed in today’s charges allegedly was orchestrated by a Pakistani national with close ties to Iran and is straight out of the Iranian playbook,” FBI Director Christopher Wray said in a statement after the indictment was unsealed.

Nikki Haley is a hardliner against Iran.AP

“Bad actors are determined to wreak havoc on our country, and American political leaders across both parties are sitting squarely in the crosshairs,” Grassley said in a statement Thursday.

“In this extraordinarily heightened threat environment, federal agencies ought to be laser-focused on building up public trust and reassuring the American people of their efforts to carry out their protective missions.”

Grassley said he had contacted the FBI, Department of Homeland Security, Secret Service and Transportation Security Administration to ask about steps they’ve taken to investigate the Iranian plot.

“If they do ‘assassinate President Trump,’ which is always a possibility, I hope that America obliterates Iran, wipes it off the face of the Earth — If that does not happen, American Leaders will be considered ‘gutless’ cowards!” Trump wrote on Truth Social on July 25.

President Biden’s name was also floated during the discussions.AP

The FBI, Secret Service, multiple congressional committees, and other agencies are currently probing the July 13 near-assassination of Trump in Butler, Pa. by Thomas Matthew Crooks, whose bullets killed firefighter Corey Comperatore, 50, and severely wounded two other rally attendees — David Dutch, 57, and James Copenhaver, 74.

Investigators have not revealed a motive for the attack, but Crooks is not believed to be connected to Iran.

In addition to the murder plot, Iran is also alleged to have backed a hack into the Trump campaign, which resulted in a leak of internal information to Politico and The Washington Post — both of whom appear to have declined to publish it.

Intelligence officials have warned that Iran has “demonstrated a longstanding interest in exploiting societal tensions through various means.”

https://nypost.com/2024/09/05/us-news/fbi-reveals-graphic-new-details-on-iranian-backed-plot-to-potentially-kill-trump-haley-or-biden/

Illegal Weed Growing Operation Found In House Owned By Oakland Police Officer

 A illegal weed growing operation was found - of all places - in a home owned by an Oakland police officer this spring. 

State Department of Cannabis Control officers discovered about $1 million worth of illegal marijuana in a Bay Area neighborhood in Antioch. One of the three raided houses was owned by Oakland Police Officer Samson Liu, 38, who was placed on administrative leave on April 30.

The Oakland Police Department, citing an ongoing investigation, did not disclose the officer's name, but CNN identified him. Records show Liu bought a 2,800-square-foot house in Antioch in 2020 for $608,000.

The department said it “is aware of the allegations made against one of our members and is cooperating with outside law enforcement agencies on the case", according to the LA Times.

The LA Times report says that the raid underscores the scale of illegal marijuana operations in California and the involvement of Chinese organized crime since legalization in 2016, according to the cannabis control agency.

Law enforcement described these operations as sophisticated and linked to “Chinese criminal syndicates” but provided no further details due to ongoing investigations. 

A Los Angeles Times investigation recently revealed that contraband pesticide use has spread across California's cannabis farms, both illegal and licensed, over the past three years.

These toxic substances were found in at least six counties, including Siskiyou County, where half of 25 illegal farms raided in July 2023 had pesticides present, causing three officers to need medical treatment after exposure, according to the report

https://www.zerohedge.com/markets/illegal-weed-growing-operation-found-house-owned-oakland-police-officer

NY's Chinese Consul General No Longer In Position After Former Hochul Aide Charged As Spy

 by Catherine Yang via The Epoch Times (emphasis ours),

New York Gov. Kathy Hochul said on Sept. 4 that Chinese consul general Huang Ping is no longer holding his position after her request to the U.S. State Department that he be ousted. The State Department said the diplomat left because he reached the end of a regularly scheduled rotation.

On Sept. 3, a former top-level aide to Hochul was charged with spying for the Chinese Communist Party (CCP)

Hochul said she reached out to the White House and U.S. Secretary of State after the arrest and indictment of Linda Sun. She asked that the Chinese consul general be removed from his position immediately.

U.S. State Department spokesperson Matthew Miller said Hochul spoke to Deputy Secretary of State Kurt Campbell on Sept. 4. Miller said the consul general was not expelled but rather reached the end of a regularly scheduled rotation. When it comes to the status of employees at these missions, the department reaches out to the foreign country, he said.

“I have conveyed my desire to have the counsel general from the People’s Republic of China and the New York mission expelled, and I’ve been informed that the counsel general is no longer in the New York mission,” Hochul said at the press conference.

She said her request was meant to send a message.

“I believe that the Chinese government with their behavior in doing this and working with Linda Sun is not acceptable,” Hochul said. “It’s a statement by us, that we’re not tolerating this, and anybody who represented that government needs to move on. That was what we made clear.”

Sun was charged with acting on behalf of the CCP, visa fraud, alien smuggling, and conspiracy to commit money laundering. Her husband and codefendant, Christopher Hu, was charged with conspiracy to commit money laundering, bank fraud, and misuse of means of identification.

Sun was dismissed from Hochul’s office in March 2023 for alleged misconduct, and the governor’s office is cooperating with the investigation.

Hochul said on Sept. 4 that Sun’s arrest showed that governments at all levels “certainly” should be more vigilant.

“This is an individual who started way before my time, was put in the position of liaison to the Asian community and global trade issues,” Hochul said.

Sun held state government roles from 2012 to 2023 and allegedly forged Hochul’s signature on invitations that would allow Chinese officials to illegally enter the United States and meet with government officials. She also allegedly used her position to block Taiwanese representatives from meeting government officials and edit then-Gov. Andrew Cuomo’s statements to remove references to Taiwan as a country.

According to the indictment, Sun found ways to allow CCP officials to gain access to New York state leaders during the COVID-19 pandemic, at one time even calling an official on her phone during a private conference call between multiple state departments, warning the CCP official, “Keep your phone muted.” The official wrote to Sun that the call had been “very useful.”

The indictment also alleges that Sun received millions of dollars in return for her work for the CCP and never declared her role as a foreign agent or the benefits she received. Sun and Hu pleaded not guilty during their initial court appearance in Brooklyn on Sept. 3 and will be released on bond.

Hochul said at a separate event on Sept. 4 that Sun had no access to security or government documents “so there was a limit to it,” but Sun used her position to promote CCP views in official proclamations while “diminishing any involvement” with Taiwan.

She said Sun had also been able to use her position to obtain visas for CCP officials, and that her office had alerted law enforcement to some “evidence that didn’t look right.”

“To think that any foreign agent, any foreign government to infiltrate a government organization like the state of New York has to be addressed,” she said.

https://www.zerohedge.com/political/nys-chinese-consul-general-no-longer-position-after-former-hochul-aide-charged-spy


'Creditor Violence Is ‘Just Capitalism at Work,’ Sculptor CIO Says'

 

  • Alternative asset manager finds debt restructuring opportunity
  • Firm also sees growth in the asset-based finance space

Providing fresh capital to companies restructuring their debt has been “the best opportunity in the corporate credit market over the last year or two”, according to Sculptor Capital Management’s Chief Investment Officer Jimmy Levin.

Liability management exercises, where companies get controversial financings that prioritize newer creditors over their existing ones, have become more common over the last decade. To Levin, who’s also Sculptor’s executive managing partner, it’s “just capitalism at work.”

https://www.bloomberg.com/news/articles/2024-09-05/sculptor-cio-says-creditor-violence-is-just-capitalism-at-work

Highlights From Trump's Town Hall With Fox News

 by Janice Hisle via The Epoch Times (emphasis ours),

HARRISBURG, Pa.—Former President Donald Trump continued his courtship of voters in Pennsylvania, one of a handful of states that could decide the 2024 presidential election, with a wide-ranging town hall discussion on Sept. 4.

Fox News host Sean Hannity reminded the audience at New Holland Arena that the Republican nominee’s Democratic opponent, Vice President Kamala Harris, declined an invitation to debate Trump that night. That’s why the event instead became a Trump-only town hall.

So far, Harris has agreed to one debate with Trump, set for Sept. 10 with ABC News in Philadelphia. Trump also invited her to appear Sept. 25 on CBS News.

Banter between Hannity and Trump on Wednesday, sprinkled with video montages of Harris’s past statements, filled about 50 minutes that had been allotted—even before a single audience member had been able to ask a question.

Then, Trump suggested, “Let’s make two shows” from the footage; Hannity obliged, and the event continued for about 15 more minutes as Dave McCormick, a Republican candidate for Senate, and four attendees sought answers from the former president. Their questions focused on safety, immigration, and the economy. Trump repeated his past pledges to improve on all three of those fronts.

The network was slated to broadcast the prerecorded Trump–Hannity interview later on Sept. 4; the Trump–audience interactions will air during Hannity’s regular time slot on Sept. 5. Other media outlets, including The Epoch Times, were permitted to report on the exchanges only after the first segment was broadcast at 9 p.m. ET on Sept. 4.

The following are key highlights from the town hall.

ABC Debate: ‘I’m Gonna Let Her Talk’

After Hannity asked what the former president was doing to get ready for next week’s debate with Harris, Trump replied: “I think I’ve been practicing all my life for this stuff. It’ll be an interesting evening.”

The former president said debates are unpredictable, so a candidate needs to be nimble. Many before him have prepped extensively, only to fail miserably in the heat of debate. “Everybody has a plan until they get ‘punched in the face,’” Trump said, quoting Mike Tyson.

“A lot depends on ABC. ... I hope they’re going to be fair,” he said, adding that a contract bars the network from providing questions to either candidate in advance of the showdown.

The Trump and Harris camps had proposed different ground rules for the debate; they disagreed over whether the candidates should be seated or standing, and over whether microphones should be muted while the opposing candidate is speaking.

Trump’s strategy? “I’m gonna let her talk,” he said.

That is what he did on June 27 in Atlanta, where CNN hosted a debate between him and President Joe Biden. The incumbent was widely seen to have struggled during that face-off.

Biden withdrew from the race less than a month later and endorsed Harris as his preferred successor.

Fracking a Big Deal for Pennsylvania

Noting that many thousands of Pennsylvanians depend on fracking for their livelihoods, Trump told the audience, “You have no choice; you’ve gotta vote for me.”

Hannity played multiple video clips of Harris making past statements opposing fracking. Trump said he disbelieves her recent statement that she won’t ban the procedure that is used to help extract gas or oil from the ground. He said Democrats’ policies have directly hurt the industry even without an outright ban.

“You have to have fracking. ... It’s a massive business for Pennsylvania, and you can’t take a chance” that Harris would eliminate it, Trump said.

Trump Trending Upward

Hannity noted the town hall came at a time when Trump was trending upward in some of the polls. Those include a Trafalgar Group poll showing Trump ahead of Harris in Pennsylvania by 2 percentage points.

The host said the latest numbers seem to suggest that Harris’s “long-lived honeymoon phase now finally, finally appears to be over.”

In the RealClearPolitics average of opinion polls, Harris was holding a 1.9 percent national lead against Trump on Sept. 4. But a few very recent polls were detecting a shift in momentum.

In Rasmussen Reports’ Daily Presidential Tracking Poll on Sept. 4, Trump opened a six-point lead over Harris nationally. But in Rasmussen’s five-day average, he was only 2 percent ahead of her.

Many other polls still show Harris with an edge over Trump nationally, but still within the margin of error, which runs at 3 percent or more for most polls.

An online prediction and betting site, Polymarket.com, on Sept. 4 showed Trump with a 52-percent chance of winning the Nov. 5 election; Harris had a 47-percent chance.

Contrast With Harris–Walz Accessibility

Hannity noted that Harris has given no solo news conferences since she became the apparent Democratic nominee 45 days prior to the Fox town hall.

She and her running mate, Minnesota Gov. Tim Walz, participated in an interview with CNN’s Dana Bash on Aug. 29 but disclosed no new policy specifics. And, as of Sept. 4, no policy platform was yet listed on Harris’s website.

Hannity contrasted this with the dozens of news conferences and interviews Trump and his running mate, Sen. JD Vance (R-Ohio), have given since Biden dropped out of the race.

After Trump passed the 16-minute, 30-second mark into the program, Hannity thanked him for going longer than Harris’s CNN interview; the audience laughed.

Heightened Security

Hannity and Trump have appeared together for many broadcasts since Trump first campaigned for president in 2016. But “never before have restrictions been so tight,” Hannity said.

In the wake of a gunman’s failed assassination attempt against Trump on July 13 in Butler, Pennsylvania, Trump’s security team insisted on a smaller audience for the Fox town hall, Hannity said. Seating arrangements were also strictly controlled.

No attendance estimate was provided, but the arena, which holds 7,300 people, appeared to be about one-third full.

Hannity and Trump expressed sadness over the Georgia school shooting that left at least four people dead and nine wounded hours before the town hall.

In addition, Hannity also noted that FBI Director Christopher Wray recently warned about an unprecedented spike in security threats.

When Hannity wondered aloud why so many problems with violence and threats persist, Trump replied, “It’s a sick and angry world for a lot of reasons,” expressing confidence that he will improve conditions if he wins reelection.

“It starts now, Trump!” one man in the audience said.

Reassuring ‘Hesitant’ Voters

A woman asked Trump what he had learned from his first term as president that could help reassure “those that are hesitant to vote for [him] now.”

Trump replied that he learned the importance of putting the right people into key positions in his administration.

I put people in, that in some cases were not what I really wanted. ... I know the good ones, the bad ones, the weak ones, the smart ones, the dumb ones,” he said, his last phrase prompting a chuckle from the audience. “A big key to running it is getting the right people. ... I know now the people, and I know them better than anybody.”

https://www.zerohedge.com/political/highlights-trumps-town-hall-fox-news


In New York, dead bodies are starting to turn up

 Amid all the other calamities brought on by illegally present migrants -- attacks on police, mass shopliftings, rapes, strongarm robberies, murders -- the New York City area is suddenly seeing a disturbing trend:

The writer of the tweet notes:

This surge in gruesome discoveries is highly unusual for New York City, where such crimes have historically been rare. The recent wave of violent acts represents a disturbing new trend, raising concerns among residents and law enforcement alike. Some of my police sources have pointed to the possibility that these crimes could be linked to migrant gangs operating in the city. However, these connections are still under investigation, and no definitive conclusions have been reached. Each case is being investigated separately by authorities, who are working to uncover the circumstances behind these events. The increase in such discoveries has caused concern among residents, prompting heightened awareness in the community.

No, they aren't sure yet that it has anything to do with migrants, and you can bet certain Democrat authorities will cover it up if it does, but amid all the other problems seen with migrants, particularly the presence of lawless gangs who have little fear of the law, it would probably be a good place to look.

The details are so disheartening:

According to News 12 of Long Island:

A shocking discovery of human remains in a suitcase was made along the side of the road in Huntington Station Tuesday.
 
Suffolk police say the body was found in the suitcase around noon outside of an apartment building.
 
One resident, who asked to be referred to as Taylor, says she noticed something unsettling during a morning walk and called police.
 
"I was taking a walk and I just, I smelled something. I saw a whole bunch of flies. I had looked over and I saw the suitcase,” she said. “So then I called it in, I was like I'd rather be safe than sorry. This is out of the ordinary. This is not normal."
 
Flavio Ribadeneyra, of Huntington Station, came home to find police blocking off part of Nassau Road. He said he also noticed a foul smell Tuesday morning.
 
"This is unbelievable,” he said. "You would never think that something like that would happen in your building or around your building!"
Nobody knows who did it. Whoever the victim may be, he may have no traces of identity here, given the open border.
 
I think I've actually been to that station to visit an old college friend -- leafy green and full of old clapboard Long Island homes. Billions of flowers all around in summer with the sound of birds singing and crickets chirping. No, you wouldn't expect a mob-style rubout with brazenly displayed remains in a place like that.
 
But there are places where these kinds of random murders and body dumpings have been pretty normal.
 
By coincidence, they are the kinds of places these problematic migrants are coming from.
 
What it reminds me of is Medellín, Colombia, during its Pablo Escobar years in the 1990s. When President Alvaro Uribe got the place cleaned up, it became a peaceful, beautiful, business-oriented city, circled by Hong Kong bauhinia trees with big pink flowers.
 
But once upon a time, it was a dump, a horrible, lawless, despairing, desolate place where dead bodies were found at every culvert and vacant lot, some deposited next to 'no body dumping' signs in a pathetically futile effort to stop it.
 
 
No body dumping sign in Medellin, Colombia
 
The sign, scrawled crudely in Spanish as if to convey an authority in an absence of any authority, says 'No body dumping.'
 
It's followed by a scene of a bound, rotting body with vultures picking at it just behind the sign, and too gross to post.
 
This 39th-minute scene in La Vírgen de los Sicarios was vivid to me in summing up the hopelessness of an ineffective government amid demonic, lawless gangs wreaking warfare against the entire polity, a world of absolute despair -- and conveyed with flawless artistry just through that sign.

It's one of my favorite movies based on its realistic portrayal of an absolute moral abyss -- in society as a whole, and in the hearts of all of its characters, a place where nothing is good, everything is rotted out and corrupted.

You'll feel you need to take a moral shower after watching that one, but at the same time, it's good the way Mick Jagger's Sympathy for the Devil is good -- in that it depicts evil so accurately.

Medellín didn't get to that point overnight, and neither will New York City now that bodies are turning up in random places around the area. But the former did slide there eventually, the product of unenforced laws, corrupt judges, mass migration from the countryside creating vast slums, and young people with nothing to live for and nothing to do with themselves. With bodies turning up and nobody solving the murders, it's a sign of something ominous.

That sounds like New York, too, still upstream from what happened to Medellín. But with bodies turning up and eventually dulling the public to such events, it's bound to keep getting worse. New York could become what Medellín was, the big business city of the country in each case, becoming its most hellish redoubt. That's inevitable if a new Uribe, a determined leader whose mission is to take down the radical left and the forces of lawless corruption, doesn't appear soon.

https://www.americanthinker.com/blog/2024/09/in_new_york_dead_bodies_are_starting_to_turn_up.html

Kamalanomics: Like job slowdowns? ADP reports private-sector job slowdowns -- in the highest-paid jobs

 By Monica Showalter

The economics of the Harris-Biden administration are starting to get ugly out there.

According to PYMNTS.com, a trade journal that tracks money flows:

The labor market continued to cool in August, with job creation among private employers slowing for the fifth consecutive month and wage growth remaining flat.

So said human resources (HR) and payroll solution provider ADP in the August ADP National Employment Report released Thursday (Sept. 5).

“The job market’s downward drift brought us to slower-than-normal hiring after two years of outsized growth,” ADP Chief Economist Nela Richardson said in the report. “The next indicator to watch is wage growth, which is stabilizing after a dramatic post-pandemic slowdown.”

Private sector employment increased by 99,000 jobs in August, down from the revised total of 111,000 added in July, according to a Thursday press release. July’s total was revised down from the previously reported 122,000.

Among the 10 industry sectors tracked by ADP, seven saw job gains during August. The three sectors that saw declines were professional/business services, manufacturing and information, which lost 16,000, 8,000 and 4,000 jobs, respectively, the release said.

Year-over-year pay gains remained flat in August, with those for job-stayers gauged at 4.8% and those for job-changers at 7.3%, per the release.

Like the U.S. Department of Labor, which tracks both government and private-sector jobs in its monthly U.S. Employment Report, ADP tends to revise downward, and probably will with this figure, too.

That's bad, because already the 99,000 new jobs figure is below the expected 140,000 in new jobs created. Now it will probably be revised even lower than that, signalling that the private sector is slowing way down, the way they do during recessions. MarketWatch reports that the Federal Reserve, which has signalled a 25 basis point cut in September, may go lower than that just to try to shake some life into the economy.

There's one reason why this is going on -- the government has gotten just too big under Kamala Harris and Joe Biden. The vast money it requires to keep itself afloat is more than the private sector can support, and the government printing money as a substitute for this missing economy government it needs to live off of is why inflation is showing up. There's too much money chasing too few goods in this ever-shriveling economy, so the money-presses are going.

Add to that that the U.S. is spending most of its money on interest from its past borrowings, which is in the billions now, topping the amount of money spent on defense and this is getting to be a very sad Argentina-style story.

The details are ugly too -- according to ZeroHedge, the three sectors that took the beatings in those numbers - professional and business services (down 16,000 jobs), manufacturing (down 8,000 jobs), and information (down 4,000 jobs) are the highest-paid jobs in the business sector. The lower-paid jobs are hanging on, but the higher-paid jobs are getting scarcer.

I tried to find a definition of professional/business services from ADP, but didn't see anything. I did keep searching, though, hoping it was an industry term and got this definition from Rogers On Business Services, which appears to be a close approximation:

 

The Business Services sector is incredibly varied, and a cornucopia of different businesses fall under the umbrella of Business Services.  Are you unsure whether or not your business is considered a service business? Read on, as we provide a comprehensive list of Business Services businesses. 

Employment Services

Employment services make up most service businesses, driving nearly 40% of the revenue in the category. Employment services break down into three main categories: 

  • Placement agencies
  • Temporary help services
  • Professional Employer Organizations (PEOs)


At a placement agency, the agency works to place employees from their pool of qualified talent in permanent positions with a customer company or client. Temporary help services serve a similar function, but the workers they place are hired temporarily, typically replacing a long-term employee on leave or during periods of high demand.

 

Hear that? Forty percent of this sector seeing fewer jobs is people who hire other people. That is very bad news if I'm right about the definitions here.

Other high-paid parts of this sector, cited by Rogers, includes building services, waste management, security, travel arrangements, and the broad category of services like engineering services, architectural services, IT services, design, land surveying, financial services and law services -- anything a business might need to hire another business for to get its own job done. Subsectors such as law and architecture are very highly paid indeed.

Yet Kamala Harris is proposing to expand the government even more, squeezing this already distressed and shriveling private sector with new monster programs for $200 billion in child care subsidies (NPR's estimate), Hugo Chavez-style promises of millions of units of housing construction, big rental subsidies for the welfare class, $40 billion for local (read: blue) governments to "innovate" which is double what Joe Biden proposed, $25,000 down payment assistance for first-time home buyers, inflated pay for teachers' union members, among other big spending plans in her platform.

In addition, she plans to create shortages by squeezing business harder, with her planned "price-gouging" ban, meaning, businesses will shrivel even more as they cannot pass on their soaring input costs from inflation in the final price of their goods to consumers.

That's a recipe for businesses to 'go Galt.' It happened in Venezuela and I witnessed it when Polar, a big grain and brewery company there, pleaded with Chavez in a full page ad in El Universal in late 2005, for relief from his price controls, or they would have to shut down and leave, which they eventually did.

As the economy shrivels, the public sector expands, particularly with massive newly printed money coming out to pay for it.

We are seeing that happening right now with this nasty report from ADP which has sent stock prices lower, and it will only get exponentially worse if Kamala Harris, god forbid, gets elected president. Even just hearing about her plans is enough to drive the market downward, but fact is, she's in power now, and we are just getting a taste of how bad it's going to get.

https://www.americanthinker.com/blog/2024/09/kamalanomics_like_job_slowdowns_adp_reports_private_sector_job_slowdowns.html