ECONOMY | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

ECONOMY

Jan 12 08:08

Amid rising prices, American families fall deeper in debt

Higher prices are already taking a toll.

As consumers pay more for everything from groceries to gasoline, household income is failing to keep pace with a higher overall cost of living, according to recent reports.

Over the past two years, median income fell 3% while the cost of living rose nearly 7%, due, in part, to rising housing and medical costs.

Jan 12 08:04

The Double Helix of Entwined Pandemic and Economic Strategy

Three years ago, I said to an American Professor from the US Army War College in Washington, in respect to the campaign to return American lost Blue Collar jobs to Asia, that these jobs would never return. They were gone for good.

He retorted that that was precisely so, but I was missing the point, he said. America did not expect, or want, the majority of those humdrum manufacturing jobs back. They should stay in Asia. The Élites, he said, wanted only the commanding heights of Tech. They wanted the intellectual property, the protocols, the metrics, the regulatory framework that would allow America to define and expand across the next two decades of global technological evolution.

The real dilemma however, he said was, “What is to be done with the 20% of the American workforce that would be no longer needed: that was no longer necessary to the functioning of a tech-led US economy?”

Jan 11 15:07

FISCAL AND MONETARY CLIFFS HAVE ARRIVED

Jan 11 10:24

As Store Shelves Get Barer, Food Industry Insiders Are Warning That Supplies Will Get Even Tighter In The Weeks Ahead

If you are waiting for the government to pull us out of this mess, you are going to be waiting an awfully long time. -- Decades of very foolish decisions have brought us to this point, and it would take a miracle of epic proportions to turn things around now.

Jan 11 07:57

#BareShelvesBiden Trends As Alarming Number Of People Report Empty Stores

Before Christmas eve, President Biden declared his administration's efforts to eliminate supply-chain bottlenecks ahead of the holiday season had succeeded. Ten days into the new year, we can firmly say that is not the case.

The hashtag "BareShelvesBiden" has been trending on Twitter for the last 24 hours. The hashtag ranked on Twitter's most trending list as of late Sunday evening.

Jan 11 07:35

FED Vice Chair Richard Clarida Resigns After Trading Scandal – Made BIG BETS on Stocks and Bonds Just Before FED Pandemic Statement in 2020

Federal Reserve Vice Chair Richard Clarida said Monday that he will step down on Friday, the third Fed official to resign after a trading scandal at the central bank that involved potential conflicts of interest.

The announcement followed new revelations around Clarida’s trading in a stock fund in February 2020, when the coronavirus threatened to upend the global economy and the Fed was discussing extraordinary rescue measures.

Jan 11 07:21

Nord Stream II Sanctions Are Not About Security

Sanction this. Sanction that. The Department of the Treasury is currently administering dozens of sanction programs designed to change the behavior of certain countries.

And yet, no one seems to ask the important question: Do sanctions promote peace and understanding or escalate tensions between nations? What behavior has China modified since the U.S. began sanctions? Has Russia changed her behavior? Has Russia given back Crimea?

Sanctions, though lacking in proof of effectiveness, are very popular with both parties. Embargoes, sanctions’ big brother, also garner bipartisan enthusiasm. The U.S. embargo of Cuba has now endured for more than 60 years without any evidence of a change in regime or even a change in the regime’s policy.

Jan 11 06:45

2022: The Year the US achieves Collapse

I have been studying the forthcoming collapse of the USA for 25 years and publishing books and articles on this subject for the last 15, with good results: CCCP 2.0 is developing quite nicely. The 30-year reprieve which the US was granted thanks to the collapse of the USSR has now expired, every effort at imperial expansion since then (Afghanistan, Iraq, Syria, Libya and the “suicide belt” of Eastern Europe) has been a total failure. Meanwhile a reborn Russia, backed by much of the rest of Eurasia, is now turning the tables and ordering the US around in perfectly undiplomatic terms. And now this: Barbara Water of US San Diego recently appeared on CNN to explain that the US is now in a zone of high risk for political violence and civil war.

And what this means is that the US has finally achieved Total Collapse Preparedness. Let us look into the details of this.

Jan 11 06:36

Fossil Fuel Investments Are Burning California Pensioners

California’s two biggest pension funds have invested a staggering $43 billion in fossil fuel companies, and their opposition to divesting from the industry — including fighting legislation that would have stopped them investing in firms involved with the controversial Dakota Access Pipeline (DAPL) — has cost retirees and taxpayers billions, research shows.

The findings hammer home the fact that the divestment movement isn’t just about protecting the planet from the worst effects of climate change. With the oil, gas, and coal industries all on the decline, pension funds’ refusal to divest from fossil fuels is also endangering the retirement savings of teachers, government employees, and other rank-and-file public workers who have paid into these funds.

Jan 11 06:35

Lindsey Graham Says US In Worst Shape Since The 30's

Sen. Lindsey Graham warned that Americans are living in the “most dangerous times since the late ’30s” due to that “radical” legislative agenda of President Biden and his Democratic colleagues.

In Sunday's interview with John Catsimatidis on WABC 770 AM, Graham (R-SC) predicted that voters in the 2022 midterm elections will be motivated “not based on what happened on Jan. 6, but based on this failed Democratic radical agenda.”

Jan 11 06:32

Nord Stream 2 still does not meet EU requirements – Berlin

The controversial Nord Stream 2 pipeline project does not yet meet European Union requirements for certification, and the process will remain suspended until the operator makes changes, Germany’s foreign minister said on Monday.

Speaking to the Italian newspaper La Stampa, Annalena Baerbock indicated that the future launch of Nord Stream 2 has geopolitical implications, and therefore the new government in Berlin demands that all requirements be met before certification.

Jan 10 14:53

Was 2021 the peak in Speculative Mania?

Jan 10 14:05

BREAKDOWN: Basic Services And Supply Chains Are Rapidly Breaking Down All Over The Globe

Of course our politicians seem to think that they can treat all of us like we are in the military these days. -- They just keep imposing more rules, more restrictions and more mandates. -- And the more they clamp down, the more our society is going to break down. -- 2022 is certainly off to an inauspicious start, and the weeks ahead certainly do not look very promising at all.

Jan 10 12:42

Biden to Distribute Additional $4.5 Billion to Help Low-Income Families Cover Heating Costs After He Blew Up US Energy Prices

The Biden Regime will distribute an additional $4.5 billion to help “low-income” families cover heating costs.

It costs Americans a lot more money to keep their homes heated this winter thanks to Joe Biden.

Jan 10 12:04

Must See: Biden Literally Celebrating One Of The Worst Economic Reports In History

Social media users on Friday mocked a graphic the White House posted online that claimed President Biden has created far more jobs than any other commander-in-chief.

"Ever," the post bragged.

The statistic– which has been posted on Twitter, Instagram and Facebook – was posted just hours after a disappointing jobs report showed hiring had fallen far below expectations in December.

Jan 10 11:54

International Finance Leaders Hold ‘War Game’ Exercise Simulating Global Financial Collapse. Should We Be Worried?

High-level international banking officials and organizations last month gathered in Israel for a global “war game” exercise simulating the collapse of the global financial system.

The tabletop exercise was reminiscent of “Event 201” — the pandemic simulation exercise that took place in October 2019, shortly before COVID-19 entered the global scene.

The “Collective Strength” initiative was held for 10 days, beginning Dec. 9, 2021, at the Israeli Finance Ministry in Jerusalem. It was relocated to Jerusalem from the Dubai World Expo over concerns about the Omicron variant.

Israel led a 10-country contingent that also included treasury officials from the U.S., Austria, Germany, Italy, the Netherlands, Switzerland, Thailand and the United Arab Emirates.

Jan 10 11:32

Charlie Munger DESTROYS Fake Gurus

Jan 10 11:14

JUDGE RULES AGAINST PIPELINE COMPANY TRYING TO KEEP “COUNTERINSURGENCY” RECORDS SECRET

LAST WEEK, a North Dakota court ruled against a bid by the oil company Energy Transfer to keep documents about its security contractor’s operations against anti-pipeline activism secret. The court thwarted the pipeline giant’s attempt to narrow the definition of a public record and withhold thousands of documents from the press. Judge Cynthia Feland ruled that Energy Transfer’s contract with the security firm TigerSwan cannot prevent the state’s private security licensing board from sharing these records with The Intercept, refusing to accept the company’s attempt to exempt the records from open government laws.

“This is the first opinion that I’ve been aware of that’s made it clear that when you give records to a public entity like this private investigation board, they become public records,” said Jack McDonald, attorney for the North Dakota Newspaper Association. “What relationship there was between Energy Transfer and TigerSwan — that doesn’t affect the records.”

Jan 10 08:34

Tent City Pops Up In Front Of DC's Union Station Amid "Severe Homeless Crisis"

Down the street from the US Capitol Building, right in front of Union Station, more than a dozen tents have been erected, highlighting the homeless problem in the nation's capital.

The area outside the train station is a 16-minute walk from the Capitol Building. Lawmakers who take the train to work have to pass by this area and gaze upon the homeless who have been knocked out of the workforce and unable to afford shelter, food, and energy because of inflationary conditions produced by unorthodox monetary and fiscal policies.

Jan 10 08:26

Layoffs are Coming

Jan 10 07:40

Hedge Fund CIO: We Are Headed Toward A Catastrophic Political Collision - It's So Obvious But Few People Want To Admit It

Participants generally noted that, given their individual outlooks for the economy, the labor market, and inflation, it may become warranted to increase the federal funds rate sooner or at a faster pace than participants had earlier anticipated,” said the Fed in their meeting Minutes.

Stocks puked, the S&P 500 index reversing from Monday’s all-time high.

Beneath the surface, those assets most geared to expectations of eternally easy financial conditions were savaged. Technology. Ethereum fell 20%. Stocks that gain when rates rise ripped higher as 2yr yields jumped 13bps on the week, 10yrs surged 25bps.

“Some participants noted that it could be appropriate to begin to reduce the size of the Federal Reserve’s balance sheet relatively soon after beginning to raise the federal funds rate,” added the Minutes, surprising most traders who rushed to recalibrate their highly leveraged bets.

Jan 10 07:10

China to host ministers from oil-rich Gulf states as Kazakhstan unrest heightens energy security fears

Foreign ministers from the Gulf states will start a five-day visit to Beijing on Monday in with energy expected to top the agenda.

China is worried about supply security following the turmoil in Kazakhstan, one of its key suppliers while the members of the Gulf Cooperation Council (GCC) want to find a counterweight for their over-reliance on the United States and Beijing’s close ties to Iran, analysts said.

Jan 10 06:55

Bitcoin Approaches Death Cross as Goldman Foresees 4 Fed Rate Hikes This Year

They call it bitcoin’s “death cross” – a bearish indicator which appears when the 50-day moving average (MA) dips below the 200-day MA.

The ominously-named chart pattern looks set to be confirmed this week amid mounting concerns of faster liquidity withdrawal by the U.S. Federal Reserve (Fed), a bearish development for bitcoin and asset prices, in general.

Goldman Sachs foresees the Fed raising borrowing costs at least four times by the end of 2022 versus the previous prediction of three rate hikes, according to Bloomberg. The investment banking giant also expects the central bank to downsize its balance sheet from July.

Jan 09 18:38

Some States Didn’t Shut Down for COVID — Here’s What Happened in One of Them…

By B.N. Frank

American opposition to all COVID-19 mandates, requirements, and restrictions has been ongoing since they started being issued almost 2 years ago. Of course, Americans of all ages are still testing positive for the dreaded virus – including vaccine recipients. At the same time, millions of COVID tests have also been recalled due to inaccuracies. Side effects, injuries, and deaths also continue to be blamed on the COVID jab as well. In fact, last month, the U.S. approved the first injury claim for a COVID countermeasure.

Members of the American Amish community believe they obtained “herd immunity” the natural way in 2020. Experts have also claimed that the U.S. COVID death count is not being accurately reported.

Regardless of what you think about all things COVID, you still might be interested in learning how it was and continues to be handled in a state that didn’t close down for long...

Jan 09 06:41

Globalism’s Achilles’ Heel

Supply chain disruptions have not been resolved, and it’s not clear when they will be. You’re seeing the effects of these disruptions at the store in the forms of shortages and higher prices.

Yet the supply chain is a subject that very few are familiar with beyond a superficial acquaintance.

Most people think the supply chain is just part of the global economy. That’s not entirely true. The supply chain is the global economy.

There isn’t a single good or service of any kind that does not arrive through a supply chain. Not one.

If the global supply chain is broken, then the global economy is broken. That increasingly appears to be the case.

The supply chain difficulties will grow worse. Even more troubling is the fact that the remedies will take years and sometimes decades to implement.

Jan 09 06:36

Israel-China trade caught between US pressure and BDS

On Monday, sources in the Israeli government leaked the news that Israel had informed the US State Department that, from now on, all major business deals between Israel and China would be cleared with Washington first.

According to Haaretz, this was an Israeli initiative rather than succumbing to a direct US demand.

The announcement comes after the Israeli government has been pushing the boundaries of US goodwill towards the country in recent months.

Jan 09 06:28

When That Ol’ Mojo Stops Workin’

The virus looks like it’s on that ol’ exit ramp, but the disintegrating economy will still be with us, and no amount of political degeneracy disguised as virtue will stop it. We still have to manage our lives individually and collectively going through it. It’s going to be a tough slog. The federal government in its current iteration is looking like more of an impediment than a help to any of us. Its current hysterical flounderings send a clear message: You can’t depend on us to do anything right. Instead, select a favorable place to plant your flag, and figure out what you can do locally to rebuild some means of productive activity, fortify basic institutions of law, public safety, and money, and restore credible authority.

Jan 08 11:33

Americans Fled High-Tax States in 2021, New Analysis Shows

By Brad Polumbo

For many people, the start of a new year is an opportunity for genuine self-reflection. If Democratic lawmakers take an honest look at 2021, the inescapable conclusion is that voters chose with their feet — and rejected high taxes.

A new analysis from the right-leaning Tax Foundation reaches this conclusion. Analyst Jared Walczak broke down U.S. Census Bureau data and reports that while the United States overall saw only minor population growth in 2021, there were very significant shifts in state populations as people relocated.

The five states (counting Washington, D.C., for analysis purposes) that lost the most residents on net were Washington, D.C., New York, Illinois, Hawaii, and California. Meanwhile, the states that saw the biggest net gains in population were Idaho, Utah, Montana, Arizona, South Carolina, Delaware, Texas, Nevada, Florida, and North Carolina...

Jan 08 08:36

One Bank Braces For Catastrophic "Rate Shock" As Liquidity Supernova Turns Negative

Well, we are finally here: 2022 has arrived and the rate shock that BofA's bearish chief investment strategist Michael Hartnett has prophetically been warning about arrived right out of the gate, and with a bang as both nominal and real yields spiked sharply higher in just the first week of 2022.

And unfortunately, if Hartnett's vision for the rest of 2022 is as accurate as it has been so far, it's going to get much worse.

Jan 08 08:36

What The Great Ammunition Shortage Says About Inflation

Covid has done a lot of things to our society. But talk to anyone who enjoys hunting, and they’ll tell you one of result is the ‘Great Ammunition Shortage of 2021.’ "5.56 ammunition for an AR-15 used to be about 33 cents a round," said Mark Oliva, director of public affairs for the National Shooting Sports Foundation. "Now you're looking at closer to almost a dollar a round. So it is much more expensive and it is much more difficult to find ammunition."

Jan 08 08:35

National Tire Shortage Emerges As Snowstorms Pound US

Tire shops in the US complain about a tire shortage. They say snarled supply chains have put the overseas rubber industry in limbo, and by the time the tires are shipped to the US West Coast, port congestion adds weeks until they arrive at warehouses.

The shortage comes as winter storms are battering states in the mid-Atlantic, Northeast, Midwest, and Pacific Northwest. People are rushing to purchase winter tires, but there appears to be a limited stock for certain brands and models.

Jan 08 08:35

Buchanan: Russia Is Not The Great Rival; China Is

While all facts are true, not all facts are relevant.

And what are the relevant facts in this crisis where 100,000 Russian troops are now stationed along the Ukrainian border?

Fact one: There is not now and never has been a vital U.S. interest in Ukraine to justify risking a war with Russia.

History tells us that. Even as Ukraine was suffering in the Stalin-induced Holodomor, the terror-famine of 1932-33, President Franklin Roosevelt granted diplomatic recognition to the Bolshevik regime.

During four decades of Cold War, the U.S. never regarded Moscow’s control of Ukraine as any threat to the USA.

President Joe Biden was thus right to rule out military action in response to any Russian incursion or invasion of Ukraine.

Moreover, as it is declared U.S. policy not to retaliate militarily to an invasion of Ukraine, Biden should make it clear that Ukrainian membership in NATO is a closed question.

Not going to happen.

Jan 08 08:33

For Farmers Across America, Solar Power May Spell Trouble

This article is the first in a series on the underreported costs of solar power. American farmers express concerns about being crowded off of their property, the potentially permanent loss of good agricultural soil, and the feasibility of combining large solar installations with farmland or pollinator habitats, among other topics.

“It’s very frustrating to try to protect your farm,” cotton farmer Nancy Caywood told The Epoch Times.

Caywood and her family manage Caywood Farms in rural Casa Grande, Arizona, south of Phoenix in Pinal County. She said they’re under significant pressure to sell their land to large solar companies, which are buying up parcels near their property.

“It’s eyesores to me,” she said.

Caywood said that surveyors and other people are coming onto her family’s land without their permission.

Jan 08 08:32

Will Artificial Intelligence Create A Socialist Paradise?

Relating a quip by Soviet economist Nikolai Fedorenko, Yuri Maltsev illustrated the problem with socialism in his foreword to Ludwig von Mises’s Economic Calculation in the Socialist Commonwealth. Fedorenko said, at the time, in Maltsev’s words, “[A] fully balanced, checked, and detailed economic plan for the next year would be ready, with the help of computers, in 30,000 years.”

Victor Shvets believes computing power has caught up and “technology could soon create an environment where state planning might be able to deliver acceptable economic results while simultaneously suppressing societal and individual freedoms.” Mr. Shvets has worked all over the world as an investment banker and has now put down his dystopian ideas of the future in the book The Great Rupture: Three Empires, Four Turning Points, and the Future of Humanity.

Jan 08 08:27

Shocking Consumer Credit Numbers: US Credit Card Debt Soars Most On Record With Savings Long Gone

While it is traditionally viewed as a B-grade indicator, the November consumer credit report from the Federal Reserve was an absolute stunner and confirmed what we have been saying for month: any excess savings accumulated by the US middle class are long gone, and in their place Americans have unleashed a credit-card fueled spending spree.

Here are the shocking numbers: in November, consumer credit exploded by a whopping $40 billion, double the expected $20 billion print, more than double the $16 billion October number, and the highest on record!

Jan 08 08:16

Hiring CRATERS In December As Inflation Continues To SURGE OUT OF CONTROL. Mannarino

Jan 08 07:45

Taliban weed about to attract millions in foreign investment

CPharm International (ECI), a German research and development firm, has said it is planning a multi-million-dollar investment in Taliban-controlled Afghanistan, with the aim of producing weed for medical purposes.

Following an unfortunate case of mistaken identity in late 2021, Vice media agency tracked down a German company, CPharm International (ECI), which has struck a deal with the Taliban.

Last year, a tweet from the Afghan Ministry of the Interior claimed that a firm called “Cpharm” had met with Taliban officials and would invest $450 million in Afghanistan to set up a “hashish-processing” operation. The media wrongly identified a small Australian medical consulting firm of the same name; they vehemently denied the link with the Taliban.

Jan 07 14:48

This Is What Happens When Millions Of Workers Disappear From The System…

If you want to know who is responsible for this giant economic mess, it is our “leaders” in Washington. -- Their policies created the worker shortage that we are now facing. -- And their policies created the rampant inflation that we now see all around us. -- In 2022, I am sure that they will find even more ways to royally mess things up. -- We are starting to reap what we have sown, and it isn’t going to get any easier from here.

Jan 07 12:47

Biden And The Left Continue To Pretend Sinking Economy Is A Success, Even After Latest Job Report Falls Short Again

The December jobs report came out this morning and it’s not good, hitting less than half of what was expected in terms of hiring:

Jan 07 11:58

Supply Chain Woes Prompt a New Push to Revive U.S. Factories

When visitors arrive at the office of America Knits in tiny Swainsboro, Ga., the first thing they see on the wall is a black-and-white photo that a company co-founder, Steve Hawkins, discovered in a local antiques store.

It depicts one of a score of textile mills that once dotted the area, along with the workers who toiled on its machines and powered the local economy. The scene reflects the heyday — and to Mr. Hawkins the potential — of making clothes in the rural South.

Companies like America Knits will test whether the United States can regain some of the manufacturing output it ceded in recent decades to China and other countries. That question has been contentious among workers whose jobs were lost to globalization. But with the supply-chain snarls resulting from the coronavirus pandemic, it has become intensely tangible from the consumer viewpoint as well.

Jan 07 11:28

THE WRONG MAN FOR THE JOBS: Biden Misses Jobs Forecast By 200,000

The December jobs report is in and President Biden failed to meet expectations. Economists predicted 400,000 new jobs, Joe delivered just 199,000 —less than half.

“I think it’s a historic day for our economic recovery,” Biden said, focusing on the slightly lower 3.9% unemployment rate —the small, silver lining in the report.

Jan 07 11:12

5000 Anti-Mandate Protesters at New York Capitol

By Michael Kane

5,000 peaceful protesters rallied at the New York Capitol in Albany on January 5th to say no to all covid and vaccine mandates. The 2022 legislative session in Albany is loaded with bills attempting to codify multiple covid and vaccine mandates into state law.

Driving to the protest, road conditions were treacherous where black ice, rain and sleet caused multiple accidents including one 6-car pile up. Hundreds of protesters who were headed to Albany turned back due to the horrible road conditions. Even many confirmed speakers turned back when trapped in horrible traffic and icing roads, including Kevin Jenkins.

Despite these major obstacles the turnout was still enormous! 5000 people NEVER show up in Albany over any issue, ever. The point was made loud and clear, New York is completely against codifying covid mandates into law...

Jan 07 11:11

Behind the curve central bank edition.

Jan 07 10:54

Biden Plays The Blame Game With The Economy

With inflation showing bad signs for consumers across the country, the Biden Administration persists in its war on big meat processors. The Administration asserts these producers are reaping record profits at the cost of consumers and smaller competitors.

The White House has published what it calls an action plan for "a fairer, more competitive, and more resilient meat and poultry supply chain" complete with a comprehensive scope of initiatives.

Webmaster's Commentary: 

"It's all the fault of white supremacists, especially the unvaccinated ones!" -- Official White Horse Souse

Jan 07 09:28

US Stocks Erase All 2022 Gains As Fed Rate-Hike Expectations Soar

This is CNN. The network wheeled out professor of bioethics Arthur Caplan Wednesday who called for a raft of extreme actions to be taken against the unvaccinated, including denying them the right to buy affordable medical insurance, and increasing hospital bills.

Caplan declared that the time has come to “shame and blame” the unvaccinated and “penalize” them for not taking COVID shots.

“We’re fighting a war and need all hands on deck. I don’t want to reject those who still haven’t done the right thing. I’ll condemn them. I’ll shame them. I’ll blame them, but I don’t want to exclude them,” Caplan stated, adding “we can’t write them off. We can penalize them more.”

“We can say you will have to pay more on your hospital bill. You can’t get life insurance or disability insurance at affordable rates if you aren’t vaccinated,” the medical ethics ‘expert’ proclaimed.

Jan 07 09:27

Daily Briefing: Market Jitters: Is a Regime Change Imminent?

On Wednesday, the S&P 500 fell 1.9%—the worst single-day decline in 11 months and the worst start to a year since 2008. Even crypto is taking a beating. The entire country has turned its attention to the Fed, which yesterday hinted at becoming more aggressive, triggering the steep drop in stocks. The taper, rising rates, and declining balance sheets are on the agenda. Thomas Thornton, founder of Hedge Fund Telemetry, shares how he’s positioning his portfolio, given the big picture, and answers the pivotal question: Is a major regime shift on the way? Interviewed by Ash Bennington.

Jan 07 09:15

Insane: Signature Price For Nearly 3-Decades Dumped Due To Bidenflation

Little Caesars is increasing the price of its famous Hot-N-Ready pizza after nearly a quarter-century.

The pizza chain, which first introduced the signature deal in 1997, is raising the price on the Hot-N-Ready pizza from $5 to $5.55, according to Forbes. In an interview, CEO David Scrivano cited rising labor and commodity costs as an impetus for the price change.

Jan 07 09:12

Americans Waking Up To Inflation & Stagflation…Elected Officials To Be Voted Out?

Webmaster addition: Not unless we clean up the election system!

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