{"id":1659469,"date":"2022-09-27T06:37:31","date_gmt":"2022-09-27T10:37:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659469"},"modified":"2022-09-27T06:39:49","modified_gmt":"2022-09-27T10:39:49","slug":"three-men-charged-with-fraud-in-scheme-involving-inflating-value-of-small-new-jersey-deli-to-100-million","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/three-men-charged-with-fraud-in-scheme-involving-inflating-value-of-small-new-jersey-deli-to-100-million\/","title":{"rendered":"Three Men Charged With Fraud in Scheme Involving Inflating Value of Small New Jersey Deli to $100 Million"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthree-men-charged-with-fraud-in-scheme-involving-inflating-value-of-small-new-jersey-deli-to-100-million%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659469&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>It\u2019s tough to tell which party is more clueless in this construct. Is it the White House and Joe Biden, who threw a \u201cMission Accomplished\u201d celebration of the so-called Inflation Reduction Act on the same day as the CPI report that showed inflation still clocking in above 8%?<\/p>\n<p>Or is it Politico, the news organization that wonders why people won\u2019t let Biden have his victory lap while they struggle with <a href=\"https:\/\/hotair.com\/ed-morrissey\/2022\/08\/22\/wrong-direction-on-steroids-gallup-hits-new-all-time-high-in-suffering-index-n491377\" target=\"_blank\" rel=\"noopener\">five quarters of erosion in real disposable personal income<\/a>?<\/p>\n<p><a href=\"https:\/\/www.politico.com\/news\/2022\/09\/26\/recession-fears-biden-economic-message-00058724\" target=\"_blank\" rel=\"noopener\">Answer:\u00a0<em>yes<\/em><\/a>.<\/p>\n<blockquote>\n<p>Emboldened by a string of legislative victories, President Joe Biden has leaned into his record on the economy, increasingly confident that the nation\u2019s outlook is brightening after months under a cloud of rising prices and consumer anxiety.<\/p>\n<p>Wages are up, gas prices are down, the thinking goes. And following a year of fits and starts, Biden clinched congressional deals aimed at reshaping major parts of the U.S. economy \u2014 and cementing elements of his own presidential legacy.<\/p>\n<p>But just as the White House was rushing to capitalize on its winning streak \u2014 in hopes of turning around an economic narrative that has dogged the administration from its earliest days \u2014 complications have arisen. The lengthy fall in gas prices finally ended, inflation has stayed stubbornly high and a bleak global economic landscape has rattled the markets, with both the Dow Jones and S&#038;P 500 nearing their weakest levels of the year.<\/p>\n<p>The cross currents of economic and political news have left the White House in a tricky position.<\/p>\n<\/blockquote>\n<p>It\u2019s not just a \u201ctricky position\u201d \u2014 it\u2019s a flat-out lie. The Inflation Reduction Act didn\u2019t have anything to do with inflation, and in fact will slightly\u00a0<em>increase<\/em> inflation in its first year. The IRA was nothing more than a skinny version of Biden\u2019s Build Back Better plan, with tons of government spending offset somewhat by massively expanding the IRS to suck more resources out of taxpayers to fund it.<\/p>\n<p>That\u2019s the reality that impedes Biden\u2019s victory lap. Inflation has not gone away, and to the extent it does will only happen through <a href=\"https:\/\/hotair.com\/ed-morrissey\/2022\/09\/21\/breaking-fed-issues-third-75-basis-point-hike-warns-recession-may-be-coming-n498187\" target=\"_blank\" rel=\"noopener\">the Fed\u2019s demand destruction<\/a> that will shortly push the economy into a full-blown recession. Biden and his Democrat-controlled Congress could have alleviated that necessity by reining in government spending and retooling regulatory policies to push supply-side economics, <a href=\"https:\/\/www.americanprogress.org\/article\/effective-inflation-control-requires-supply-side-policy\/\" target=\"_blank\" rel=\"noopener\">as even the progressive Center for American Progress pleaded<\/a> last week.<\/p>\n<p>And let\u2019s not forget about Biden\u2019s latest move \u2014 a trillion-dollar student-loan debt forgiveness that comes entirely from the Fed\u2019s money tree. Charles C.W. Cooke <a href=\"https:\/\/www.nationalreview.com\/corner\/politico-reality-keeps-getting-in-the-way-of-bidens-rhetoric\/\" target=\"_blank\" rel=\"noopener\">points out this folly<\/a> at NRO:<\/p>\n<blockquote>\n<p>Back to Politico:<\/p>\n<p><em>The cross currents of economic and political news have left the White House in a tricky position. After spending much of his term battling inflation and fears of a recession, Biden has begun traveling the country touting long-term investments in manufacturing and climate.<\/em><\/p>\n<p>The problem with this is that it isn\u2019t true. Biden has spend much of his term coexisting with \u201cinflation and fears of a recession.\u201d But he has spent pretty much none of his term \u201cbattling\u201d it. On the contrary: almost everything that he and his party have done \u2014 including <a href=\"https:\/\/www.nationalreview.com\/corner\/on-60-minutes-president-biden-admits-his-student-loan-order-is-illegal\/\" target=\"_blank\" rel=\"noopener\">his most recent move<\/a>, the illegal \u201cforgiveness\u201d (i.e. transference) of up to one trillion dollars in student debt \u2014 has made inflation worse, made interest-rate hikes more likely, and made the \u201cfear of a recession\u201d more acute. \u2026<\/p>\n<p>Of course he\u2019s is finding it hard to take a victory lap. There\u2019s no victory to celebrate.<\/p>\n<\/blockquote>\n<p>On that point, let\u2019s recall exactly what the CPI report told us about inflation two weeks ago:<\/p>\n<\/p>\n<p>Note that year-on-year core CPI rose in August even while gas prices fell enough to moderate overall inflation to, er, 8.3%. This was the result that preceded Biden\u2019s planned Mission Accomplished party on September 13 by a few hours, don\u2019t forget. Core CPI doesn\u2019t include either energy or food, and food inflation is raging well above these levels.<\/p>\n<p>That\u2019s also true in the PPI:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-496466\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/ppi-august-730x466-1.jpg\" alt=\"\" width=\"730\" height=\"466\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/ppi-august-730x466-1.jpg 730w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/ppi-august.jpg 1093w\" \/><\/p>\n<p>This shows that inflation has bled into the service sector as well as the goods sector. Despite a couple of good month-on-month results in the latter, overall year-on-year PPI inflation remains at the 9% level and at 12% on final demand goods.<\/p>\n<p>The American public knows better than the White House and Politico that there isn\u2019t any victory to celebrate. This emperor has no clothes. Unfortunately, he\u2019s surrounded by a sycophantic media industry that continues to extol his finery nonetheless.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s tough to tell which party is more clueless in this construct. Is it the White House and Joe Biden, who threw a \u201cMission Accomplished\u201d celebration of the so-called Inflation<\/p>\n","protected":false},"author":1,"featured_media":1659471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1659469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1659469"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1659471"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1659469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1659469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1659469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}