The Bidenomics Bust
What to know: The Biden administration has been massively overstating U.S. job growth. Earlier this week, the Bureau of Labor Statistics “revised down” nonfarm employment growth by a whopping 818,000 positions, signaling a much weaker economy and labor market than administration officials have admitted to.
The TPPF take: Bidenomics is an even bigger bust than first suspected..
“Bidenomics is a failed economic model incapable of producing prosperity, but seems to excel at generating poverty, dependency, and unemployment. Evidence of this abounds,” says TPPF’s James Quintero. “A strong national economy will return when we, as a nation, turn back to the free-market and constitutional government.”
For more on inflation and Bidenomics, click here.
Is It Just ‘Neighborliness’?
What to know: Vice presidential candidate Gov. Tim Walz has said that “one person’s socialism is another person’s neighborliness.”
The TPPF take: History shows that it as it turns out, communism and socialism aren’t very neighborly after all.
“As the Democratic National Convention continues, there’s no shortage of love for federal programs and centralized federal power,” says TPPF’s Austin Prochko. “This is, of course, not surprising—socialists and communists love centralized power, because with it comes control. There’s no control over the free market, no control with a free media, and no control with an armed populace—that’s why the socialist and communist tune is to impose price controls, limit free speech, and disarm the populace.”
For more on socialism, click here.
Beating the Heat?
What to know: Our tight electric grid margins are being tested by AI, which could increase data center power demand by 160%, a new report shows.
The TPPF take: A Google AI search takes 10 times as much energy as a regular Google search does.
“Emerging technologies are coming to Texas while we are already grappling with an unbalanced grid; suffering from an overinvestment in renewable energy sources that are unable to support the demands of both energy-hungry industries and rising populations in a growing state,” says TPPF’s Carson Clayton. “AI’s continued growth has the potential to boost the economy, but it could adversely affect the state if we don’t prioritize the reliable, dispatchable energy sources needed to support this growth.”
For more on AI and energy consumption, click here.