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

ECONOMY

Nov 23 08:19

Shortages Are Relative

Nov 23 08:17

"Make Amazon Pay" Protests Could Spark Black Friday Chaos For Customers 

Amazon workers are preparing to strike or protest on Black Friday, ahead of Cyber Monday, in 20 countries as part of a movement called "Make Amazon Pay."

"We are workers and activists divided by geography and our role in the global economy but united in our commitment to Make Amazon Pay fair wages, its taxes, and for its impact on the planet.

"On Black Friday 26 November 2021, from oil refineries, to factories, to warehouses, to data centres, to corporate offices in countries across the world, workers and activists are rising up in strikes, protests and actions to Make Amazon Pay," the group's website said.

The group's "Common Demands'" the tear-off sheet said, "the pandemic has exposed how Amazon places profits ahead of workers, society, and our planet," adding, "Amazon takes too much and gives back too little. It is time to Make Amazon Pay."

Nov 23 08:07

Cold Snap Sweeps Across China As Fears Of Energy Crisis Reemerge

A massive cold blast is sweeping across most parts of China, unleashing snow, mixed precipitation, and dangerous wind. China's energy crisis eased last month but could soon be ignited again by wicked winter weather.

According to the website weather.com.cn, which the China Meteorological Administration runs, more than 100 weather alerts are issued for the country as record-breaking cold temperatures spread further and further south.

The latest forecast shows a cold air mass has descended on the county.

Nov 23 08:06

Why Bitcoin Is The Best Weapon Society Has Against Inflation And Wealth Inequality

For bitcoin enthusiasts, one of the most compelling things about the cryptocurrency is its ability to side-step fiat monetary systems that dilute the value of cash holdings through inflation.

That isn’t anywhere near as complicated as it sounds. Put very simply, central banks grease the wheels of their economies by continually printing new money. A higher money supply makes it easier for companies to spend and service their debt. But there’s a catch: for every new dollar you add to the spending pool, the buying power of each individual dollar falls proportionally.

Nov 23 07:46

Nolte–NBC Finds a Bidenflation Silver Lining: Fewer Thanksgiving Guests if You Don’t Buy a Turkey!

Proving just how out of touch the elite media are, the far-left Today Show offered some tips on mustering through Joe Biden’s record inflation this Thanksgiving: Cancel the Turkey. This might chase away all those expensive guests!

“Perhaps forgo the turkey,” NBC’s Vicky Nguyen suggested. “Some people think turkey is overrated. It tends to be the most expensive thing on the menu. Maybe have an Italian feast.”

And then came the kicker…

“If you tell everyone you’re not having a turkey,” she chirped, “some guests may drop off, and that will save money too.”

Nov 23 07:06

Poland Plans To Add Another 100 Tons Of Gold To Its Reserves

During a recent interview, Bank of Poland President Adam Glapi?ski said the central bank plans to add 100 tons of gold to its reserves in 2022.

As SchiffGold.com details below, the National Bank of Poland began aggressively adding gold to its reserves in 2018. Through the first half of 2019, the Polish central bank added more than 100 tons of gold, nearly doubling its reserves.

Nov 23 06:38

What to Watch For if Russia Invades Ukraine

News reports from Europe indicate two potentially dangerous events occurring on the borders of NATO. The most glaring is the report of Russian large scale troop deployments near the Ukrainian border indicating a possible invasion in the next few months. The other report is on the smaller yet volatile migration movements along the Belarussian-Polish border. These two circumstances coincide with Europe’s weak energy situation and the global perception of American weakness created by the mismanaged withdrawal in Afghanistan. Although the risk of war in this region remains low, the possibility of a regional war during a time of European energy shortages would threaten the world with a global depression next year.

Nov 23 06:33

Biden orders US strategic oil reserves released

US President Joe Biden has ordered the release of 50 million barrels of crude from the country’s emergency stockpile to battle rising gasoline prices.

The move is aimed at reining in soaring energy prices after Washington’s failed attempts to persuade OPEC and allied producers to pump more oil to satisfy the rising post-pandemic demand.

The release of the reserves was coordinated with major Asian energy consumers, according to a Reuters source in the Biden administration.

Webmaster's Commentary: 

You know; the reserves that will be needed by the military if the US goes to war in Europe?

Nov 23 02:59

D.A. Chesa Boudin Gets Tough On Crime After Securing Release Of His Cop-Killing Terrorist Father

San Francisco District Attorney Chesa Boudin has decided to get tough on crime and drop his commitment to "social justice" just weeks after securing the release of his cop-killing terrorist father.

Boudin's affluent parents, David Gilbert and Kathy Boudin, were both members of the Weather Underground domestic terrorist group and were jailed in the 80s for taking part in the murder of police officers Edward O'Grady and Waverly Brown during a bank heist.

Nov 22 20:53

Pharmacy, Cannabis Dispensary And Other Stores Flash Robbed in Oakland

A series of flash robberies involving hordes of thugs were caught on video over the weekend in Oakland, California.

Nov 22 17:15

Shopping At The Mall In The New America

Videos from just the past week show multiple smash-and-grabs, flash lootings, shootings and wild fights at malls across America.

Nov 22 17:13

St. Louis Fed: With Meat Prices Soaring, Eat Soybeans Instead Of Turkey This Thanksgiving

The Federal Reserve is encouraging Americans to eat soybeans instead of turkey this Thanksgiving due to soaring meat prices.

Nov 22 16:30

A Doom Loop Has Been Initiated...

Nov 22 13:42

New Poll Shows Almost All Americans Are Deeply Concerned About Inflation As Prices Explode All Over The Country

How do you know when a problem officially becomes a crisis?  Is it when just about everyone agrees that a crisis has arrived?  If that is the case, then it appears that an “inflation crisis” is now upon us.  Country Financial just conducted a survey that asked Americans about a variety of financial issues, and they found that a whopping 88 percent of the population is highly concerned about inflation at this point…

Nov 22 13:40

Millennials Priced Out of Home Ownership

Nov 22 12:42

The Proximity Principle: Uniting Local Farmers with Local Buyers – The Imperative of Our Time

By Julian Rose

Independent small- and medium-sized farms have been handed a death sentence by Klaus Schwab, head of The World Economic Forum. Schwab, and fellow architects of top-down control, have officially let it be known that under the policy known as ‘Green Deal’, traditional family farms are no longer wanted and the foods they produce are to be replaced by laboratory and genetically engineered synthetic lookalikes. This policy is spelled out in the pages of Klaus Schwab’s book The Great Reset which is part of the envisaged ‘Fourth Industrial Revolution’.

Nov 22 08:39

AN ENGINEERED FERTILIZER SHORTAGE?

As we're contemplating what appears to be a somewhat engineered "supply-chain" disruption, this disturbing article from one of my favorite researchers, F. William Engdahl, was spotted by M.W. and passed along. It's worthy of your attention:

Now the Organized Take-down of the Global Fertilizer supply?

Mr. Engdahl zeroes in with his customary focus on the nature of the problem:

Ammonia-based fertilizers made from nitrogen (most of our air, so never in shortage) and natural gas or methane (CH4) make up almost 70% of all fertilizers used to support major agriculture crops such as wheat, corn, rice and even coffee. As natural gas prices have soared by anywhere from 300% to 500% over the past months, this has had a devastating impact on world fertilizer production where some 80% of the cost of making ammonia fertilizers is due to natural gas.

Nov 22 08:34

'It Was All Nonsense': GOP Lawmaker Cites CBO Score As He Criticizes Build Back Better Agenda

Nov 22 08:05

The Emerging Alt-Economy: “Buy Nothing”

Nov 22 07:58

St. Louis Fed Has Some Advice For Your Thanksgiving Dinner: Eat Plants, Not Poultry

The Federal Reserve Bank of St. Louis posted some climate-crisis-approved nutrition advice on its blog on Saturday ahead of Thanksgiving.

"A Thanksgiving dinner serving of poultry costs $1.42. A soybean-based dinner serving with the same amount of calories costs 66 cents and provides almost twice as much protein," the St. Louis Fed's Twitter account said.

Webmaster's Commentary: 

Nov 22 07:56

EU Abruptly Shelved Plan For Upgraded Taiwan Trade Ties Amid China Pressure

America's increasingly tough line on Taiwan and willingness to transfer weapons while continuing to send high-level officials, including Congressional junkets to Taipei, appears to be causing strain for the European Union's typically independent trade policy.

In perhaps the most serious sign yet that Europe is struggling on which direction it should lean on the Taiwan issue, it was reported Friday that the EU postponed at the last minute implementation of what's being called a "confidential plan" for a major upgrade in trade ties with Taiwan.

Nov 22 07:54

Democrats' Tax Cuts For The Wealthy In NY, NJ Spotlights Build Back Better Hypocrisy

State and Local Tax (SALT) deductions have made hypocrites out of the entire group of House Democrats.

Tax Plan Inflames Democratic Debate

House Democrats are in a fresh revolt over SALT.

It's a fine (hypocritic) time for it given they all voted for the Build Back Better build.

BBB is now in the hands of the Senate where an Inflamed Discussion is taking place.

House passage of Democrats’ $2 trillion education, healthcare and climate package has inflamed an intraparty debate about whether the bill gives overly-generous tax benefits to high-income Americans.

At the center of the dispute is the House plan to raise the $10,000 cap on the deduction for state and local taxes to $80,000 through 2030. A small but committed group of lawmakers from high-tax states like New York and New Jersey have for years insisted on repealing the $10,000 cap, which Republicans put into place as part of the 2017 tax law.

Nov 21 17:31

80-Strong Mob Flash Loot Nordstom in San Francisco Bay Area

An estimated 80-strong mob in 25 cars blocked the street and carried out an organized flash looting of a Nordstrom in Walnut Creek on Saturday night.

Nov 21 11:40

Here’s why U.S. supply chain problems will only get worse

Less liberty and more centralization equals less production and less overall wealth. -- Governments and central banks have sought to circumvent this rule by printing money from thin air, thinking that they can create wealth while at the same time suffocating public financial interactions and trade with authoritarianism. This, of course, only leads to inflation or stagflation, and thus wealth is never actually created, it is projected like a hologram in order to trick the masses into thinking that all is well – until everything breaks, that is.

Nov 21 11:28

Hidden on page 1,647 of Biden’s huge spending bill is a plan allowing illegals to get billions of dollars

It has already been quite a fight for the Biden administration to get Democrats to back the $1.75 trillion bill. There was disagreement over the timing of the bill and its relation to the rest of the president’s Build Back Better plan. -- But now the discovery of a provision, tucked on page 1647, may cause even more disagreement over the legislation. -- The provision would end the requirement of a Social Security number in order to get child tax credits. This would mean that billions of dollars could be doled out in child tax to credit to just about anyone. Illegal immigrants would be able to claim child tax credits with this new provision.

Nov 21 11:26

David Stockman on the Coming Black Swan

Nov 21 09:09

I am Inflation, Destroyer of Worlds: Poor and Middle Class Get Smashed by Inflation.

Inflation, inflation, and inflation. People tend to think that inflation merely means higher prices. Yet the type of inflation we are dealing with is extremely problematic. Inflation is running at a multi-decade high clip at 6.2% annualized and it may be even worse since the way we measure inflation is an imperfect science. Inflation punishes the poor, middle class, and savers. You wonder why the stock market, crypto, and real estate are all at record high levels? People with assets are chasing yield and younger Americans are disenfranchised and want to swing their YOLO bets on Crypto since many believe this is the only way to become financially independent. All of this reeks of an unsustainable period in economics but we are in a perpetual bubble world. Our national debt is inching closer to $29 trillion which seems comical and the Fed balance sheet is at record levels. So the notion that they will willingly let rates go up does not seem like an option.

Webmaster's Commentary: 

Nov 21 08:51

Weekend Recap: Biden's Commie Nominee Grilled By GOP's

Sen. John Kennedy took jabs at Saule Omarova, President Joe Biden's pick for top banking regulator, during a Senate Banking Committee hearing on Thursday.

Biden nominated Omarova, a law professor at Cornell University, to administer the Office of the Comptroller of the Currency, which governs assets held by banks. Her supporters claimed Omarova would guarantee a fair banking system. At the same time, her critics challenged some of her academic writings, including a project theorizing a federal banking system that critics said would sever private banks.

Nov 21 08:35

'We feed the EU!' Nexit fury erupts as Brussels pushes Dutch farmers out with hated rules

A leaked document released in September from the Netherlands Environmental Assessment Agency (PBL) commissioned by the Dutch ministries of agriculture and finance sparked a political debate in the country over the future of intense farming.

Dutch farmers are the world's second-biggest exporters by value after the United States.

In order to adhere to climate change policies, dictated by the EU's Habitats Directive, by the European Court of Justice in 2019 and enhanced by the EU's Green Deal, Dutch farmers are facing hard decisions.

Emissions of phosphates and nitrogen from packed herds mean the country is almost surpassing the margins permitted by the EU regulations.

Nov 21 08:01

Global Inflation Rates...

Nov 21 07:50

Is the Everything Bubble About to Burst?

Nov 21 07:50

Pending Black Swan?

Nov 21 07:48

How do I know we are in an everything bubble?

Nov 21 07:28

Biden's Mandate Threatens Truckers And The Entire Supply Chain

Millions of truckers are opposing President Joe Biden's workplace vaccine mandate, which would be catastrophic for the country's supply chain difficulty if it is enforced, an American Trucking Associations executive told House members this week.

"We've tried to be very clear to the administration — I understand the logic behind it — but if you do this, these are the consequences," announced ATA President Chris Spear. "So if you're trying to solve the supply chain problem, you're actually compounding it and actually hurting the very problem you're trying to fix."

Nov 20 18:52

Louis Vuitton Looted in San Francisco, Chicago Store Hit Just Days Earlier

A Louis Vuitton store and other high-end retailers in San Francisco's Union Square were looted on Friday night in the wake of Kyle Rittenhouse's acquittal, though it's not clear whether the two incidents are connected as such looting has become commonplace.

Nov 20 10:34

Onward Into Darkness

Every institution in American life is failing. The people are finally starting to see how this works at the same time that they see how the vaccines work. It did not have to be, but we allowed it to get this far, and now so many things are broken that there is barely any honorable and effective authority left. As the long night falls over the land, we survey the terrain and see fiery eruptions on the horizon. Is that the flashing of chaos in the distance? In the darkness it’s hard to tell how close it may be.

Nov 20 08:44

Tools In The Service Of Tyranny

What does a virus, a Marxist movement, and bans on firearms have in common? Nothing, superficially. Delving deeper, they are tools of federal oppression.

An obvious common element of the three tools is the fear they engender: of infectious death; of unchecked rioting and looting; and of gun violence. These dangers are in fact greatly exaggerated or fabricated altogether.

Stanford economist Paul Romer is credited with first saying, “a crisis is a terrible thing to waste.”

Washington has taken this idea to heart.

Nov 20 07:28

So What's in Biden’s $1.75 Trillion ‘Care Economy’ Bill the House Just Passed?

Months of grinding negotiations finally yielded some progress on Friday as the US House of Representatives passed the Build Back Better Act (BBBA), a $1.75 trillion bill packed with social programs that are key to US President Joe Biden’s post-Covid economic recovery agenda. Many are wondering: what sort of programs are in this massive bill?

Biden has billed the BBBA as addressing the “care economy,” in contrast to the Infrastructure Investment and Jobs Act, which he signed into law on Monday. While House negotiations were done in close consultation with the Senate in order to ensure a quick passage, the upper chamber must still debate and vote on it before it can go to Biden’s desk.

Nov 20 06:55

Rolling Blackouts Possible In Texas, Midwest As Cold Blast Looms

The North American Electric Reliability Corporation (NERC), a nonprofit corporation responsible for overseeing US' power grid, published a new report on the risk of rolling blackouts if persistent cold weather is observed this winter.

NERC's three-month (December–February) winter report is an assessment that identifies potential reliability issues of interest across six regional power grids.

The report identifies Texas as having the weakest power grid if extreme cold weather were to strike.

Nov 20 06:46

Slowdown. STIMULUS Plans That FAIL

Nov 20 06:42

Fake News: Inflation Is Simply Rich people Complaining

A controversial New York Times writer has once again ignited criticism online after insisting that the "inflation hysterics" principally affect the rich, ignoring reports of the highest inflation increase in three decades.

"All the stuff you see about inflation in the news is driven by rich people flipping their s*** because their parasitic assets aren't doing as well as they'd like,'" Sarah Jeong, a former Times editorial board member, tweeted on Tuesday.

Nov 20 06:42

The OSHA Mandate May Be Stalled, But Other Mandates Are About To Suffocate Economic Activity All Over America

You can thank Joe Biden for the madness that is about to unfold.

As I discussed yesterday, the OSHA mandate that would cover more than 80 million American workers has been officially put on hold, but Biden’s other mandates are still in effect. So that means that vast numbers of patriotic young Americans are about to be kicked out of the military. We better hope that Russia and China don’t decide to suddenly make some big moves after our military is ruthlessly gutted. Countless numbers of federal employees are about to be forced out of their jobs as well, and that includes airport security screeners. If you plan on traveling by air during Thanksgiving week, you could potentially be facing some enormous delays…

As many as 40% of U.S. airport security screeners haven’t been vaccinated for COVID-19 as an immunization deadline for federal employees and the busy holiday travel season converge.

Nov 20 06:41

HILLARY CLINTON WARNS CRYPTO CAN 'DESTABILIZE NATIONS' AND 'UNDERMINE DOLLAR AS RESERVE CURRENCY'

Nation destabilizer Hillary Clinton has warned that cryptocurrency has the potential to destabilize nations, and is undermining the role of the US dollar as the global reserve currency.

During a panel discussion at the Bloomberg New Economy Forum on Friday in Singapore, Clinton rattled off a list of technology-driven "asymmetric power centers" that threaten governments, including 'disinformation, artificial intelligence, and the rise of cryptocurrency,' according to Bloomberg.

"One more area that I hope nation-states start paying greater attention to is the rise of cryptocurrency -- because what looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency, for destabilizing nations, perhaps starting with small ones but going much larger," she said.

Webmaster's Commentary: 

It worries me that Hillary is grabbing media attention right now.

Nov 20 06:40

Senate punts defense bill until after Thanksgiving as debate hits roadblock

The Senate's $768 billion defense policy bill is on hold until after Thanksgiving after efforts to vote on an array of amendments broke down late Thursday evening under objections from several Republicans.

The roadblock is just the latest delay for the must-pass National Defense Authorization Act, which had already languished for months without action despite complaints from both Democrats and Republicans. The impasse dashes the aims of Majority Leader Chuck Schumer (D-N.Y.) to finish work on the legislation before the holiday.

Nov 19 19:23

Largest Medicare Price Increase Ever; Fingers Pointing at FDA Approved yet Unproven $56,000 Alzheimer Drug

By B.N. Frank

It was just a few months ago when the FDA approved a new Alzheimer’s drug that 1) may not be effective and 2) could cost Americans and Medicare big bucks. Lo and behold, earlier this week, Medicare announced a substantial increase to their health care premiums...

Nov 19 13:52

One Month After Debt Limit Increased by $480 Billion, Treasury Secretary Warns We'll Be Out of Money Before Christmas

The U.S. could hit its debt limit on Dec. 15, Treasury Secretary Janet Yellen told lawmakers on Tuesday.

Yellen is now urging lawmakers to raise the federal debt limit, according to The New York Times. She originally suggested the limit could be hit on Dec. 3.

This extension gives Congress more time to strike a deal to raise the nation’s debt cap. But Yellen is still pushing for fast action because the Treasury could quickly run out of money and not be able to keep financing the government.

Nov 19 10:11

Russian fleet en route to US to help battle fuel crisis

The US is reportedly getting ready to receive a bulk shipment of diesel from energy-rich Russia as Washington strives to cool down the fuel's retail price, which has recently hit its highest level since 2014.

Some two million barrels of Russian diesel carried by four tankers are currently heading to the east coast of the US, according to data from energy cargo-tracking agency Vortexa, as quoted by Bloomberg.

The delivery, which is expected to arrive in New York and New Haven, Connecticut, as soon as next week, is reportedly the most substantial in recent years, based on data going back to 2018.

Nov 19 10:02

BREAKING: House passes Biden's massive social spending bill after McCarthy's marathon speech opposing it

On Friday morning, the House passed Biden's $1.75 trillion Build Back Better spending package after House Minority Leader Kevin McCarthy delivered a marathon speech overnight that harshly condemned the Build Back Better spending package.

McCarthy's marathon speech lasted over eight hours as be blasted the bill, stalling the vote on the package.

Webmaster's Commentary: 

BTW, the sign should read "Well paying jobs." Oh, right, good grammar is now white supremicism!

Nov 19 08:55

What is behind the recent fall in the Euro?

Nov 19 08:37

Puppetmasters prefer perverts

Kill your employees or go out of business. That was President Biden’s plandemic plan before the courts stepped in. His irrational idea offered a foolproof remedy for Americans’ foolish fondness for freedom. Jab them to death or starve them to death! That's the level to which America has fallen. And the trap into which Americans — totally blind to their own learned helplessness — have walked.

So what choice is there for otherwise good natured but oppressed citizens but to revolt against this diabolical tyranny. Ah, but that has been the plan all along.

Create leaders so pathologically dysfunctional, so ridiculously inarticulate, so offensively nonsensical that so-called rational citizens (i.e., people who think they’re actually rational, but who don’t realize they’ve been duped all their lives) have no alternative but to rise up and sack the corrupt demagogues who continue to demonstrate their malevolent worthlessness with one catastrophic misstep after another!

Nov 19 08:30

Food shortage around the world may have been engineered to control populationsThursday, November 18, 2021 by: Arsenio Toledo

The supply chain crisis, which is causing retailers to run out of food to sell, may have been engineered to make people submit to tyrannical government directives.

S.M. Smyth, writing for Global Research, points to historical examples of people using deliberate food shortages and engineered famines to control populations.

This includes pioneers in the old Wild West taking control of salmon populations to defend themselves against American Indians, and the Canadian government’s former policy of controlling buffalo populations to starve out First Nations tribes across the Canadian Prairies.

Such attack, Smyth wrote, will greatly affect people in America and the rest of the Western world, who probably have never experienced food shortages of this scale in their lives before.

Webmaster's Commentary: 

Starving to death is one of the cruelest deaths anyone can suffer. It is hard to imagine anyone intentionally doing that to another human, except that there have been historical precedents, such as the Nazis.

Nov 19 08:23

NATIONAL DATA: October Jobs—Displacement Soars As Immigrants Take ALL New Jobs; Year-Over-Year Immigrant Workforce Growth, Hits Another Biden-Era Record

"America is getting back to work. Our economy is starting to work for more Americans," Joe Biden claimed after the October jobs data showed payrolls surging by 531,000 in October, their biggest jump since July [Biden says his plans are working after October jobs report beats expectations, by Kate Sullivan, CNN, November 5, 2021].

What he didn’t say (and probably didn’t know, given endemic Ruling Class ignorance of the immigration dimension): foreign-born workers—not “Americans”—garnered all the October job gains

Although payrolls have grown every month so far in 2021, they are still more than 4 million short of pre-pandemic levels. And while the “other” employment survey, of households rather than businesses, also reported robust job growth—a total gain of 359,000—our analysis indicates that immigrants (legal and illegal, the data does not distinguish) took all October’s employment increase:

Nov 19 07:50

'This Place Should Be Ashamed': David Schweikert Gives Epic House Speech Blasting Build Back Better

Nov 19 07:50

Tucker: These people are too stupid to be real

Nov 19 07:15

'You Used To Be A Member Of The Young Commies?' Kennedy Grills Comptroller Nominee

Nov 19 07:14

Ukraine, US and EU prepare ‘painful economic strikes’ on Russia in case of escalation, - Kuleba

Ukraine, along with Western partners, develops a comprehensive package for the containment of Russia. It includes political and diplomatic pressure, painful economic strikes in case of expansion of aggression, a list of specific needs for strengthening the Armed Forces of Ukraine, according to the Foreign Minister of Ukraine Dmytro Kuleba. He said this at the briefing.

The minister said that he had held a number of negotiations in Washington and Brussels. In particular, with NATO Secretary General by Jens Stoltenberg.

"We discussed the security situation and a joint counteraction to hybrid threats coming from Russian Federation. The Secretary General invited me to take part in a meeting of NATO Foreign Ministers on November 30 - December 1 in Riga. This is an important sign of the Alliance's faith in Ukraine as one of the two NATO partners in the wider Black Sea region," Kuleba said.

Nov 19 07:13

Frozen Deutschland

As much as with “brain dead” NATO (copyright Emmanuel Macron) no one ever lost precious assets betting on the incompetence, narrow-mindedness and cowardice of political “leaders” across the Atlanticist EU.

There are two main reasons for the latest German legalese gambit of suspending the certification of the Nord Stream 2 pipeline.

1. Retaliation, directly against Belarus and Russia, “guilty” of the disgraceful refugee drama at the Poland-Belarus border.

2. Politicking by the German Greens.

A high-ranking European energy executive told me, “this a game where Germany does not hold a winning hand. Gazprom is very professional. But imagine if Gazprom decided to deliberately slow down their deliveries of natural gas. It could go up tenfold, collapsing the entire EU. Russia has China. But Germany does not have a workable contingency plan.”

Nov 19 07:12

Germany Will ‘Freeze’ Without Russian Gas, Energy Executive Warns

Germans face a bitter winter as natural gas market prices have soared again — after the national energy regulator apparently bowed to Russophobic and environmentalist lobbies and suspended the approval process for a new heating gas pipeline.

A German energy executive has warned his country will "freeze" this winter if authorities continue to block the Nord Stream 2 gas pipeline.

Brazilian journalist and global affairs pundit Pepe Escobar quoted an anonymous industry chief as his source in his latest column for the Unz Review on German energy regulator Bundesnetzagentur's decision to suspend the certification of the newly-finished pipeline.

That decision has sent gas prices soaring to levels approaching those in September and October — until assurances from Russian President Vladimir Putin that national gas firm Gazprom would honour all existing contracts calmed jitters.

Nov 19 07:09

Retail Sales Aren’t Inflation-Adjusted

Nov 19 07:08

'I Cannot Think Of A Nominee More Poorly Suited Than You': Tim Scott Shreds Comptroller Nominee

Nov 19 07:08

'It Was Advertised On Her Resume Up to 2017!': GOP Senator Calls Out Saule Omarova's Thesis

Nov 19 06:48

Biden Administration to Lease Out 80 Million Acres in Gulf of Mexico for Oil, Days after Climate Summit

The Interior Department is scheduled to auction off more than 80 million acres in the Gulf of Mexico on Wednesday for oil and gas leasing, the largest U.S. lease sale ever. The sale comes just days after President Biden pledged at COP26 to reduce carbon emissions.

“The Biden administration is lighting the fuse on a massive carbon bomb in the Gulf of Mexico. It’s hard to imagine a more dangerous, hypocritical action in the aftermath of the climate summit,” said Kristen Monsell, oceans legal director at the Center for Biological Diversity. “This will inevitably lead to more catastrophic oil spills, more toxic climate pollution, and more suffering for communities and wildlife along the Gulf Coast. Biden has the authority to stop this, but instead he’s casting his lot in with the fossil fuel industry and worsening the climate emergency.”

Nov 19 06:48

Biden’s Build Back Better Bill (The Killer B) Increases Deficit By $791.6 BILLION Over Next Five Years And Requires No Social Security Number To Collect Child Tax Credits

So much for Biden’s claim that his signature Build Back Better legislation won’t cost a cent. The Congressional Budget Office scored the bill and showed an increase in the Federal deficit of $791,618 MILLION over the next five years. Here is the CBO’s spreadsheet.

Here is the “killer b” legislation (Biden Build Back Better Bill or BBBBB). All 2,135 pages worth. Read it and weep. And this is the slimmed-down version of the bill.

From The Wall Street Journal: “The sprawling bill calls for creating a universal prekindergarten program, capping child-care costs for many families, negotiating lower prescription drug prices and expanding tax credits for reducing carbon emissions, among other programs. In addition to expanding tax enforcement efforts at the Internal Revenue Service, the legislation raises taxes on some corporations and very high-income Americans.”

Nov 19 06:29

McCarthy blocks Democrats from passing Biden’s social welfare bill in ‘dead of night’

House Minority Leader Kevin McCarthy prevented Democrats from expediting the passage of President Biden’s multitrillion-dollar social welfare bill on Friday, just hours after budget hawks warned the measure adds more than $367 billion to the deficit.

Mr. McCarthy, a California Republican, spoke for more than four hours in opposition to the bill. The marathon session blocked Democratic leaders from ending debate on the partisan spending package.

“Democrats have left the Capitol for the night,” Mr. McCarthy said. “If they think I’m going to stop, I’m not.”

Nov 19 06:27

Von Greyerz: Gold-O-Mania Is Coming!

The buoyancy of markets in recent years has lulled central bank heads into a false conviction that they had saved the world after the 2006-9 Great Financial Crisis.

But central bankers continue to navigate like drunken sailors between the evil forces of Scylla and Charybdis as in Homer’s Odyssey.

Few of the bankers have understood that printing unlimited and worthless paper money will not allow them a pass the strait of Messina without major, or more likely catastrophic, damage to the world economy.

As exuberance continues to dominate intoxicated stock market investors, they haven’t yet noticed that all is not well on the perilous seas.

Still, most markets continue to respond positively to the printing press rather than to the underlying fundamentals.

Printing presses don’t create real value, instead they create bubbles full of worthless air. But sadly intoxicated investors confuse air, which is free and has no value, with real, intrinsic values.

Nov 19 06:26

"This Is Like Nothing I've Experienced Or Seen Before" - Supermarkets Alter Layouts, Use Decoys To Fill Gaps Left By Shortages

While chaos reigns in supply chains, grocery stores are trying to present an appealing and seemingly organized front for customers. To do so, some are turning to age-old tricks of the trade, and developing new ones, to cover up gaps on the shelves.

That includes moving products to unlikely places in stores.

Nov 19 06:10

SINCE 2008, MONETARY POLICY HAS COST AMERICAN SAVERS ABOUT $4 TRILLION

With inflation running at over 6 percent and interest rates on savings near zero, the Federal Reserve is delivering a negative 6 percent real (inflation-adjusted) return on trillions of dollars in savings. This is effectively expropriating American savers’ nest eggs at the rate of 6 percent a year.

It is not only a problem in 2021, however, but an ongoing monetary policy problem of long standing. The Fed has been delivering negative real returns on savings for more than a decade. It should be discussing with the legislature what it thinks about this outcome and its impacts on savers.

Nov 18 22:21

The OSHA Mandate May Be Stalled, But The Other Mandates Are About To Suffocate Economic Activity All Over America

You can thank Joe Biden for the madness that is about to unfold.  As I discussed yesterday, the OSHA mandate that would cover more than 80 million American workers has been officially put on hold, but Biden’s other mandates are still in effect.  So that means that vast numbers of patriotic young Americans are about to be kicked out of the military.  We better hope that Russia and China don’t decide to suddenly make some big moves after our military is ruthlessly gutted.  Countless numbers of federal employees are about to be forced out of their jobs as well, and that includes airport security screeners.  If you plan on traveling by air during Thanksgiving week, you could potentially be facing some enormous delays…

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