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ECONOMY

Nov 15 08:06

Our Elite Want Millions to Die to Atone for Whiteness Upholding the Supply Chain: Black Women on MSNBC Attack America's Truckers for Being Too White

Our elite would rather tens of millions starve than lose the moral high ground of calling out white people for being “racist.”

Because somehow white males being the primary individuals who keep alive our just-in-time inventory and supply chain system by collectively being the majority of truck drivers somehow is racist. [MSNBC’s Tiffany Cross Shames Trucking Industry For Employing Too Many ‘Aggressive’ Trump Voters, Daily Caller, November 14, 2021]:

MSNBC host Tiffany Cross took aim at the trucking industry Sunday for employing too many middle-aged white males who “overwhelmingly voted for Trump” and are “too aggressive” on the road.

During a segment of “Cross Connection,” Cross joined CrossCountry Truck Driving School owner and president Pamela Day to discuss the ways in which the trucking industry can attract a more diverse workforce amid a labor shortage.

Nov 15 08:04

Beware of Infrastructure Bill signing ceremony

When the White House holds a triumphant signing ceremony today for the Biden/Pelosi Infrastructure Investment and Jobs Act, H.R. 3684, keep the following facts clearly in mind.

Democrats claim the bill will “supercharge the American economy and will create thousands of good jobs.” Translation: high-paying government, i.e., taxpayer paid for, jobs for Democrat supporters.

When you look beyond the title, H.R. 3684 has numerous provisions that Americans don’t want.

The bill will “restructuring the permitting process.” This is an excuse to expand an already Byzantine, massively expensive, and user-unfriendly federal bureaucracy. Permits will, of course, only go to companies favored by progressive Democrats. Recall the vendor chosen by the Obama Administration to build healthcare.gov was a Canadian company, CGI Federal, with a track record of going over budget and failing to deliver on its contracts. Democrats spent more than $2 billion for a website, that didn’t work!

Nov 15 08:02

White House messaging chaos inadvertently reveals the sinister intentions of Biden’s puppet masters

With Democrats quaking in their boots over the plunging public support for Joe Biden and the political party that sold him as a moderate and as physically and mentally capable of doing the job, the White House messaging team and their media supporters face an enormous challenge. And they are bungling it as badly as the rest of the administration is bungling economic policy, diplomacy, and national security. The gist of the messaging lately is:

Things are really going well; don’t believe your lying eyes or empty pocketbook
It’s your fault.
All this suffering is in a good cause, forcing you to go along with green new deal policies. You’re going to learn to like having less stuff.

Nov 15 08:01

EU to slap new sanctions on Belarus, airlines over escalating border crisis

The European Union will step up sanctions against Belarus, which on Monday denounced as "absurd" Western accusations that it was driving a migrant crisis that has left up to 4,000 people stranded in freezing forests on its border with Poland.

EU foreign ministers are meeting in Brussels to agree on further measures pressuring Belarus, where veteran leader Alexander Lukashenko cracked down on protesters challenging as fraudulent a presidential vote in which he had claimed victory.

Nov 15 07:27

MSNBC host Stephanie Ruhle claims Americans CAN afford to pay more as cost of living soars: Says 'dirty little secret' is that households saved money over pandemic and can now afford expensive groceries

An MSNBC host has sparked outrage after she claimed that Americans saved money during lockdown so should be able to afford expensive groceries - even as the Labor Department reports biggest increase in the cost of living in three decades.

'The dirty little secret here, Willie, while nobody likes to pay more, on average, we have the money to do so,' MSNBC business correspondent Stephanie Ruhel told anchor Willie Geist on NBC.

'Household savings hit a record high over the pandemic, we didn't really have anywhere to go out and spend,' she added.

Nov 15 07:24

Supply Chain Disruptions Will Continue

Forty percent of all the cargo into the United States comes through the ports of Los Angeles and Long Beach. Offshore, there are thousands of containers stacked up on vessels waiting to get in. How many containers can the ports unload on a normal day?

New containers are coming in. There are daily arrivals. When will that supply chain backlog clear?

The answer is never. If there are more coming in than you can unload and you have an existing backlog that’s getting worse, it will never clear.

But let’s just say that with no new shipments coming in, it would take 30 days just to unload what’s already waiting offshore. Thirty days, by the way, puts you into December and the Christmas rush.

And getting it offloaded in California is just the beginning of the supply chain. You’ve got to put it on a train or a truck and get it to a distribution center and put it on another truck and get it to a store.

Nov 15 07:22

'A World Gone Mad': Upscale LA Neighborhood Wrestles With Worsening Homeless Crisis

Abbott Kinney Boulevard is a picture-perfect hidden gem in the Venice neighborhood of Los Angeles, known for its boutique shops and locally-owned dining joints. The mile-long strip sings to the tune of upper-middle-class patrons who come to Venice Beach to soak in its peculiar rhythm. The neighborhood’s tight-knit community of homeowners who have lived in the area for decades are proud to reside in this unique nook of town.

But over the last year, the community within this stretch of Venice grew even closer over a common frustration: the growing homeless encampments.

The issue is not new to Los Angeles as a whole, which has more than 41,000 people living on its streets, according to the latest homeless count, with more than 66,000 homeless people countywide. A forecast by the Economic Roundtable estimates that number could reach nearly 90,000 by the year 2023.

Nov 15 07:21

Medicare Premiums Set To Soar; Biden Admin Blames Drug Costs & COVID

President Joe Biden’s administration on Friday announced it is raising Medicare premiums, a move it blamed in part on the cost of drugs.

The Medicare Part B standard monthly premium will rise by nearly $22 to $170.10 next year, the Centers for Medicare & Medicaid Services said.

“The increase in the Part B premium for 2022 is continued evidence that rising drug costs threaten the affordability and sustainability of the Medicare program,” Chiquita Brooks-LaSure, administrator of the agency, said in a statement.

“The Biden-Harris Administration is working to make drug prices more affordable and equitable for all Americans, and to advance drug pricing reform through competition, innovation, and transparency,” she added.

The move also stemmed from the limiting of the monthly premium increase this year in the Continuing Appropriations Act and from “spending trends driven by COVID-19,” the agency said.

Nov 15 07:15

Clock Just Hours From Midnight For Overwhelmed California Ports

The flood of import containers into Southern California continues unabated — an all-time high 81 container ships were stuck offshore of Los Angeles and Long Beach on Tuesday. Waiting time at anchorage for Los Angeles is surging and is now more than double wait times in early September.

The ports are scheduled to start charging a highly controversial excess dwell-time fee on Monday, a plan that some members of the National Shippers Advisory Council called “catastrophic,” “crazy” and “out of left field.”

Nov 15 07:14

NOW THE ORGANIZED TAKEDOWN OF GLOBAL FERTILIZER SUPPLY?

The global energy shortages which have driven prices for coal, oil and natural gas to explosive highs in the last months are a predictable consequence of the mad pursuit of “Zero Carbon” economic policies that have seen foolish governments subsidize a growing share of electricity from unreliable solar and wind generation. One consequence has been a five-fold rise in the price of natural gas or methane across the globe. That extends from China to the EU, USA and beyond. A follow-on consequence of that natural gas shortage and price explosion is a growing crisis in world agriculture fertilizer production. This may all be no accident. It fits the WEF Great Reset Agenda of UN 2030 .

Nov 15 05:50

Memecoins, dumber than you think.

Nov 14 09:17

New University Provides An Alternative to “Woke” Higher Ed

By Kerry McDonald

“I criticize by creation, not by finding fault,” said the Roman philosopher Marcus Tullius Cicero. This is such an important message.

There is a lot to be critical about in our current culture, and finding fault is easy, but it doesn’t prompt change. Change comes from creators. These entrepreneurial individuals see unmet needs and missed opportunities and develop solutions. They imagine alternatives to the status quo, and they invent new and better products and processes. They inspire others to do the same, collaborating and competing in a dynamic free market of ideas and innovations...

Nov 14 08:23

Biden ADMITS He Caused Inflation

President Biden on Wednesday admitted that inflation is at a three-decade high because “people have more money now” due to his $1.9 trillion COVID-19 stimulus legislation. This supports a major point made by people who are against the nearly $2 trillion new bill.

Biden unexpectedly backed the opinion of his critics who have said the U.S. dollar is losing its buying power due to the government giving money to cover COVID-19 aid.

The President said stimulus funds that he approved into law are partially because of demand passing the supply of goods, causing a backlog at major U.S. ports and the highest annual inflation rate since 1990.

Nov 14 08:19

US Food Banks Struggle To Feed Hungry Amid 'Perfect Storm' Of Food Inflation 

America's largest food bank struggles to feed people amid a perfect storm of surging food prices and supply chain woes.

Katie Fitzgerald, COO of Feeding America, a nonprofit organization that operates more than 200 food banks across the country, told AP News that her network of food banks is already stretched thin due to the unprecedented demand spurred by the virus pandemic downturn in the economy last year. She warned that it has become more difficult for her organization to absorb food inflation, resulting in fewer families being fed this holiday season.

Supply chain disruptions, lower inventory, higher transportation and fuel costs, and labor shortages make matters worse for food banks that millions of people rely on. She said her organization has already swapped out smaller-sized food products or entirely substituted some to stretch the dollar further.

Nov 14 08:14

Rickards: Towards A New Great Depression

Nov 14 08:14

Russia stocks up as reserves rise to historic rate

Russia’s international reserves rose to an unprecedented $623.2 billion last month, setting a historic record, data released this week by the country’s Central Bank shows.
In just one week ending October 29, Russia’s international reserves increased by $1.6 billion. The growth is mainly attributed to foreign currency purchases under the current budgetary rule, the Central Bank said.

Nov 14 08:04

Bidenflation: Disney CFO Says Smaller Food Portions at Parks ‘Good for Some People’s Waistlines’

Disney’s Chief Financial Officer (CFO) suggested the company’s theme parks could reduce food portion sizes to counter runaway inflation, then joked that the smaller servings would also be “good for some people’s waistlines” during a conference call this week.

After being asked during a quarterly earnings call Wednesday about how Disney is handling rising inflation under the Biden administration, Walt Disney Company CFO Christine McCarthy said she would rather serve less food for the same amount of money than charge higher prices, according to a report by SFGATE.

Nov 14 08:02

Medicare's "Part B" premium jumping by $21.60 a month next year, one of largest increases ever

Medicare's "Part B" outpatient premium will jump by $21.60 a month in 2022, one of the largest increases ever. Officials said Friday a new Alzheimer's drug is responsible for about half of that.

The increase guarantees that health care will gobble up a big chunk of the recently announced Social Security cost-of-living allowance, a boost that had worked out to $92 a month for the average retired worker, intended to help cover rising prices for gas and food that are pinching seniors.

Medicare officials told reporters on Friday that about half the increase is due to contingency planning if the program ultimately has to cover Aduhelm, the new $56,000-a-year medication for Alzheimer's disease from pharmaceutical company Biogen. The medication would add to the cost of outpatient coverage because it's administered intravenously in a doctor's office and paid for under Part B.

Webmaster's Commentary: 

This will erase the COLA increase.

Nov 14 07:29

What If They're All Making the Same Mistake?

Nov 13 12:14

Texas Cold Snap Update: Utility Surcharge Approved and “ratepayers could see an increase in their bills for the next 30 years.”

By B.N. Frank

Most will remember that earlier this year an unexpected snowstorm caused hundreds of deaths and other widespread devastation in Texas. Nevertheless, natural gas sellers made $11B during the snowstorm and utility companies proposed that ratepayers pay to “weatherize their facilities to withstand future freezes.” More recently the state’s utility regulator approved a customer-funded plan to recover utility debt during the storm...

Nov 13 08:54

Black Farmworkers Say They Lost Jobs to Foreigners Who Were Paid More

For more than a quarter-century, Richard Strong worked the fertile farmland of the Mississippi Delta, just as his father and his grandfather did, a family lineage of punishing labor and meager earnings that stretched back to his enslaved ancestors brought from Africa.

He tilled the soil, fertilized crops and irrigated the fields, nurturing an annual bounty of cotton, soybeans and corn for a prominent farming family. “I’ve been around farming all my life,” Mr. Strong said. “It’s all we knew.”

Black families with deep connections to the Delta have historically been the ones to perform fieldwork. That began to change about a decade ago, when the first of dozens of young, white workers flew in from South Africa on special guest worker visas. Mr. Strong and his co-workers trained the men, who by last year were being lured across the globe with wages of more than $11 an hour, compared with the $7.25 an hour that Mr. Strong and other Black local workers were paid.

Nov 12 17:07

Everything You Need To Know About The Global Chip Shortage

They are small and inconspicuous, but semiconductors are the driving force behind almost every modern technology. Today, millions of products like cars, smartphones, game consoles, and microwaves rely on computer chips, also known as semiconductor chips. However, there aren’t enough semiconductor chips to meet current demand, causing many products to short supply.

Why are semiconductor chips important? Why is the world facing a shortage of semiconductor chips? Which industries are hard hit? Is the government doing anything to remedy the situation? We spent some time looking for answers to these questions and more.

Nov 12 13:02

Hellish stay! Shocking snaps show the destruction guests have left behind at hotels and holiday rentals - from a smashed glass table to a broken sink

Guests can check out hotel reviews before deciding where to stay but, as these photos prove, sometimes it would be helpful if hoteliers could verify their customers' behaviour before giving them a room.

Nov 12 11:28

In addition to shutting down pipelines, the Biden admin is now draining and exporting the strategic oil reserve at a pace never seen before

They are cutting off imports AND draining the strategic reserve. Not only are they draining it, they are doing so faster than it has ever been drained and shipping the oil overseas.

Nov 12 11:12

Stagflation is tightening its grip on Germany

Nov 12 11:04

Michigan pipeline shutdown could double gas prices: State Sen. Theis

Nov 12 10:39

Some Employers Are Denying Death Benefits For Unvaccinated Workers

Nov 12 08:57

American household debt reaches record high of $15 trillion

According to a report published on Tuesday, Nov. 9, by the Federal Reserve, total household debt for the third quarter of 2021 increased by a whopping $286 billion to a new total of $15.24 trillion. This represents a growth of 6.2 percent from the same period a year ago.

Around 70 percent of this debt is in mortgages. According to the Fed’s report, mortgages rose by 2.2 percent in the third quarter – reflecting the surge in home prices – to account for nearly $10.7 trillion of all household debt.

Nov 12 08:27

Housing Is Officially A Bubble

Nov 12 08:27

John Kerry Seeks To Destroy Blue Collar Americans By 2030

U.S. climate envoy John Kerry boldly prophesied Tuesday that the U.S. will not rely on coal for power at all nine years from now.

"By 2030 in the United States, we won't have coal," Kerry announced in an interview with Bloomberg at the United Nation's COP26 climate conference in Glasgow, Scotland.

"We will not have coal plants," he stated.

Nov 12 07:06

Weimar, Here We Come!

Nov 12 06:50

America's Food Company Increase Prices By 20% Amid Record Inflation

As inflation proceeds to wreak havoc on American consumers' pockets, Kraft Heinz, the American food company behind items like Kraft Macaroni & Cheese, Heinz Ketchup, Jell-O, and more, is expected to raise the prices of numerous of their products by up to 20 percent.

Overall, prices on most of the company's products are expected to increase an average of 5 percent to fight inflation, according to Pittsburgh Cable News Channel (PCNC).

According to the U.S. Bureau of Labor Statistics, inflation in the United States is 5.4 percent as of September.

Nov 11 14:33

U.S. Experiencing Shortages of 100+ Drugs Including Narcan And Insulin As Record Amounts of Fentanyl Flows Across Southern Border

The US is experiencing shortages of over 100 drugs ranging from Narcan to Adderall and insulin while record amounts of fentanyl flows across our southern border thanks to DHS head Alejandro Mayorkas' refusal to enforce federal immigration laws.

Nov 11 12:59

The Fed is Trapped and a Crash is Coming

Nov 11 11:43

WATCH: Biden Proudly Gloats About The Soaring Price Of Gas

President Joe Biden gave a speech in Baltimore on Wednesday in which he gloated about the soaring price of gas in America.

During a speech discussing the infrastructure bill, Biden asked the crowd: “Did you ever think you’d be paying this much for a gallon of gas?”

Nov 11 10:58

You sanction us again? We’ll freeze you, Lukashenko warns Europe, threatening to cut gas supply.

Belarusian President Alexander Lukashenko threatened Thursday to cut gas supplies to Europe as the European Union weighs new sanctions on Belarusian officials and entities, in a sharp escalation of tensions over a migration crisis on the Belarusian-Polish border.

Lukashenko told Belarusian Prime Minister Roman Golovchenko that if Europe imposes new sanctions, “you must not forgive them anything.”

Warning that Belarus would not tolerate the closure of its borders, he told “the leadership of Poland, Lithuanians and other brainless figures to think before speaking.”

European leaders blame Lukashenko for orchestrating the crisis in retaliation for European sanctions. They accuse him of opening Belarusian borders to migrants, mainly from the Middle East and North Africa, who are trying to reach Europe through Belarus.

Nov 11 09:07

Vatican Loses $135M In Shady London Property Deal Amid Allegations Of Massive Fraud

Even God's top authority on Earth has trouble with the simplest investing precept: buy low and sell high.

After a scandal that has dragged on for more than a year and led to the firing of one of the Holy See's most senior officials over a handful of shady London property deals that were bleeding millions in losses, the Vatican has finally decided to rip the bandaid off and sell a luxury office building in London's Knightsbridge neighborhood for a loss of £100MM ($135MM).

Nov 11 07:26

Inflation has taken away all the wage gains for workers and then some

What looked like a big jump in workers’ wages during October turned into just another gut punch after accounting for inflation.

The Labor Department reported Friday that average hourly earnings increased 0.4% in October, about in line with estimates. That was the good news.

However, the department reported Wednesday that top-line inflation for the month increased 0.9%, far more than what had been expected. That was the bad news – very bad news, in fact.

That’s because it meant that all told, real average hourly earnings when accounting for inflation, actually decreased 0.5% for the month. So an apparent solid paycheck increase actually turned into a decrease, and another setback for workers still struggling to shake off the effects of the Covid pandemic.

Nov 11 07:20

It's transitory. Nothing to see here.

Nov 11 06:52

China Blinks: As Contagion From Property Sector Crash Spreads, Regulators Set To Ease Bond Rules

Two months ago Wall Street was quick to conveniently ignore China's property crisis, repeating that not only was the sudden hit to Chinese housing - the world's largest asset class according to Goldman...

... not a "Lehman moment", but that any contagion would be limited at best; at the same time central bankers - not just in China but around the globe - were quick to assure investors that a collapse by China Evergrande Group wouldn’t lead to a crash. As usual, Wall Street consensus (especially when coupled with soothing lies from central planners bankers) was dead wrong because now that the bond selloff has spread to China’s entire real estate sector and beyond, including healthy government-backstopped investment grade companies, concern is growing about the potential risk to the global financial system.

Nov 10 14:11

Treason Through Economic Sabotage.

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