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Joe Biden’s Inflation Reduction Act “Secretly” Brought To You By Bill Gates

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The Democrats’ “Inflation Reduction Act” – which according to the Congressional Budget Office will raise taxes on the middle class to the tune of $20 billion – not to mention unleash an army of IRS agents on working class Americans over the next decade, was made possible by Bill Gates and (in smaller part) Larry Summers, who have been known to hang out together.

The bill, of course, was signed yesterday.

In a Tuesday Bloomberg article that reads more like a newsletter for the Gates fan club, the billionaire Microsoft co-founder recalls how earlier this year, as moderate Democratic Senators Joe Manchin and Kyrsten Sinema continued to block the tax-and-spend legislation over concerns that it would raise taxes on the middle class (it will), Gates says he tapped into a relationship with Manchin that he’d been cultivating since at least 2019.

Gates was banking on more than just his trademark optimism about addressing climate change and other seemingly intractable problems that have been his focus since stepping down as Microsoft’s chief executive two decades ago. As he revealed to Bloomberg Green, he has quietly lobbied Manchin and other senators, starting before President Joe Biden had won the White House, in anticipation of a rare moment in which heavy federal spending might be secured for the clean-energy transition.

Those discussions gave him reason to believe the senator from West Virginia would come through for the climate — and he was willing to continue pressing the case himself until the very end. “The last month people felt like, OK, we tried, we’re done, it failed,” Gates said. “I believed it was a unique opportunity.” So he tapped into a relationship with Manchin that he’d cultivated for at least three years. “We were able to talk even at a time when he felt people weren’t listening.” -Bloomberg

We know, gag us with a spoon.

Apparently Gates and Manchin’s bromance began when the billionaire wooed the West Virgina Senator at a 2019 meal in Seattle, in an effort to garner support for clean-energy policy. Manchin at the time was the senior-most Democrat on the energy committee.

My dialogue with Joe has been going on for quite a while,” said Gates.

After Manchin walked (again) on the bill last December over concerns that it would exacerbate the national debt, inflation, the pandemic, and amid geopolitical uncertainty with Russia, Gates jumped into action. A few weeks later, he met with Manchin and his wife, Gayle Conelly Manchin, at a DC restaurant, where they talked about what West Virginia needed. Manchin understandably wanted to preserve jobs at the center of the US coal industry, while Gates suggested that coal plant workers could simply swap over to nuclear plants – such as those from Gates’ TerraPower.

Manchin apparently wasn’t convinced, announcing on Feb. 1 that “Build Back Better” (the Inflation Reduction Act’s previous iteration) was “dead.”

In an effort to convince him otherwise, Democrats pulled together a cadre of economists and other Manchin influencers – including former Treasury Secretary Lawrence Summers, who convinced Manchin that the bill wouldn’t raise taxes on the middle class, or add to the deficit.

Collin O’Mara, chief executive officer of the National Wildlife Federation, recruited economists to assuage Manchin’s concerns — including representatives from the University of Chicago and the Wharton School of the University of Pennsylvania. Senator Chris Coons of Delaware brought in a heavyweight: former Treasury Secretary Lawrence Summers, who has spent decades advising Democrats. 

The economists were able to “send this signal that [the bill’s] going to help with the deficit,” O’Mara said. “It’s going to be slightly deflationary and it’s going to spur growth and investment in all these areas.” Through this subtle alchemy, clean-energy investments could be reframed for Manchin as a hedge against future spikes in oil and gas prices and a way to potentially export more energy to Europe. -Bloomberg

Gates also sprang into action again on July 7, when Manchin was spotted at the Sun Valley media conference in Idaho – which Gates also attended.

“We had a talk about what was missing, what needed to be done,” Gates said. “And then after that it was a lot of phone calls.”

Gates looks back at the new law with satisfaction. He achieved what he set out to do. “I will say that it’s one of the happier moments of my climate work,” Gates said. “I have two things that excite me about climate work. One is when policy gets done well, and this is by far the biggest moment like that.” His other pleasure comes from interviewing people at climate and clean-tech startups: “I hear about this amazing new way to make steel, cement and chemicals.” -Bloomberg

I don’t want to take credit for what went on,” says Gates – in the article about how he gets credit for what went on.

This post was originally published at Zero Hedge

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Videos: Biden Celebrates ‘Inflation Reduction Act’ As Stock Market Tanks Due To Rising Inflation

It doesn’t get more Orwellian than this

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Steve Watson

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CNN and other news networks broadcast a split screen of Joe Biden ‘celebrating’ the passage of his ‘Inflation Reduction’ Act while the Dow Jones simultaneously tanked to its lowest point for two years on the news that inflation is still at record highs.

Watch:

The Dow Jones fell by over 1,200 points and the S&P 500 fell more than 4% on Tuesday following the August CPI report, which highlighted how inflation rose by 0.1% despite gas prices reducing slightly.

The inflation rate in August was 8.3% according to the report.

The report also found that wages are down 2.8% and energy prices surged 15.8%, the biggest rise in four decades.

Grocery prices are up 13.5% from last year and are at their highest for 43 years.

Some Americans can’t even afford to buy food and are turning to ‘buy now pay later’ desperation:

Yet the White House describes this as “welcome moderation”:

The Press Secretary also claims that the inflation report shows “progress in bringing inflation down.”

Did someone give her the wrong report?

No, she’s just flat out lying again:

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    German Foreign Minister Says Support For Ukraine Will Continue “No Matter What Voters Think”

    War will be prolonged at the expense of her own citizens.

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    Sean Gallup via Getty Images

    Despite soaring energy prices that threaten the stability of the country, Foreign Minister Annalena Baerbock said she would continue to support Ukraine “no matter what German voters think.”

    Baerbock made the remarkable comments during an event in Prague yesterday organized by the NGO Forum 2000.

    “If I give the promise to people in Ukraine – ‘We stand with you, as long as you need us’ – then I want to deliver. No matter what my German voters think, but I want to deliver to the people of Ukraine,” she said.

    The German official said that such an approach would not change even if large numbers of people were out in the streets protesting against crippling energy bills.

    “We are facing now wintertime, when we will be challenged as democratic politicians. People will go in the street and say ‘We cannot pay our energy prices’. And I will say ‘Yes I know, so we help you with social measures.’ But I don’t want to say ‘Ok then we stop the sanctions against Russia.’ We will stand with Ukraine, and this means the sanctions will stay also in wintertime, even if it gets really tough for politicians,” said Baerbock.

    The comment is a fairly stunning admission that world leaders are intent on prolonging the war for as long as possible, no matter how much it harms the countries they are supposed to represent.

    Germans face one of the worst cost of living crises in Europe, with governments arranging ‘warm up spaces’ in major cities where people who can’t pay their bills will go to avoid freezing to death, with blackouts expected.

    Citizens have already exhausted supplies of electric heaters, firewood and stoves in many areas as they prepare for energy rationing this winter, while inflation in Germany just hit its highest level in almost 50 years.

    Those planning to protest against the situation have also been demonized as domestic extremists by the authorities.

    As we reported last month, the interior minister of the German state of North Rhine-Westphalia (NRW), Herbert Reul (CDU), outrageously suggested Germans who may be planning to protest against energy blackouts were “enemies of the state” who want to overthrow the government.

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    Three Quarters of British Pubs Face Closure Due to ‘Current Thing Crisis’

    Unaffordable energy bills could wipe out majority of industry.

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    Three quarters of British pubs face being shut down due to the ‘current thing crisis’.

    Please share this video! https://youtu.be/caI_cqOOn6s

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