Fact Check: Price Of Gas Was NOT $5 A Gallon When Biden Took Office — It Was Less Than Half As Much

Was the price of gasoline $5 a gallon when President Joe Biden took office in January 2021? No, that’s not true: The U.S. Bureau of Labor Statistics (BLS) website says a gallon of regular unleaded gas was only going for close to $2.33, on average, at that time. For September 2022, the most recent month government statistics were available at the time of this report, the same type of fuel sold for $3.88, a 66.5 percent increase over the administration’s starting point. Gasoline prices peaked at over $5 a gallon in the summer of 2022.

Fact Check: Price Of Gas Was NOT $5 A Gallon When Biden Took Office — It Was Less Than Half As Much
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White House Rethinks China Tariffs Amid Taiwan Turmoil

White House Rethinks China Tariffs Amid Taiwan Turmoil

By Zerohedge.com

The Trump tariffs are the subject of a lawsuit filed by scores of U.S. companies who’ve asserted the levies are overly broad and were improperly implemented. If the Biden administration can’t defend the Trump tariff regime, it could be compelled to evaluate tens of thousands of public comments about it, or reimburse the plaintiffs for tariffs they’ve paid so far.

Biden’s interest in pandering to labor unions also figures in his slow-walking his tariff-relief decision. Milton Friedman had something to say about that

“The benefits of a tariff are visible. Union workers can see they are ‘protected.’ The harm which a tariff does is invisible. It’s spread widely.”

What labor unions?!

Union Representation Petitions Continue to Increase in FY 2022 Under Biden Administration

According to the U.S. Bureau of Labor Statistics, in 2021 the percentage of U.S workers, including public- and private-sector workers, who were members of unions was 10.3 percent—a half point decline from the 10.8 percent unionization rate in 2020. Within the private sector, the unionization rate declined by 0.2 percent in 2021 to 6.1 percent. The degree to which union activity in 2022 with an aggressively labor-friendly NLRB general counsel and a majority Biden appointed Labor Board moves the needle for union membership is yet to be determined.

On this day, 24 July 2009, 3,000 steel workers in Tonghua, China rioted and beat an executive to death when threatened with privatization and job losses.

Jianlong Steel Holding Company official Chen Guojun, who earned over 3 million yuan the previous year, planned to take over the majority state-owned Tonghua Iron and Steel Group. He announced plans to cut the number of workers from 30,000 down to around 5,000, with those made redundant receiving around 200 yuan in compensation. The firm was still profitable, but the planned restructuring was aimed at increasing profits further amidst a global economic downturn.

Outraged, the workers shut down production and rioted, beating Chen, blocking roads and smashing police cars to prevent police and ambulances from reaching him.

The sale was subsequently scrapped.

On this day, 24 July 2009, 3,000 steel workers in Tonghua, China rioted and beat an executive to death when threatened with privatisation and job losses.

More:

China, rising wages and worker militancy

Marx on technology

The longest chapter in Capital is the fifteenth, on “Machinery and Large-Scale Industry.” At almost 150-pages, it’s really a book in itself, a staggeringly dense and expansive discussion that could easily standalone—not only as a brilliant exegesis of capitalist machinery, but also as a sweeping social history of technology. At its broadest reach, the chapter is a vivid demonstration of historical materialism in action, of Marx’s method put through its dialectical paces. As ever with Marx, his footnotes aren’t to be passed over glibly: they’re worth studying, pondering over for the nuggets of insight they contain.

Marx on technology