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ECONOMY

Jan 20 10:58

What East Germany Can Teach Americans about the Current Supply Chain Crisis

By Walter Block

What is happening with our supply chains? They seem very rusty, if not altogether broken. There are numerous ships at several California ports waiting patiently to be unloaded. We are talking thousands, maybe tens of thousands, of gigantic railroad car sized containers, all just sitting there; well, floating there. Meanwhile, our supermarket shelves are sometimes as much as half empty. Grocers are all too often out of the foodstuffs and other things we used to take for granted.

Jan 20 10:48

Global food prices close to all time highs…

Jan 20 10:24

A NEW REPORT CONFIRMS IT'S TIME TO EAT THE RICH

How many rich white men does it take to end a global health crisis? Just 10, according to a new report, although we know damn well that ain’t gonna happen.

Oxfam released a pretty damning report this week that coincided with the World Economic Forum’s Davos Agenda. It found that enforcing a one-time tax on the 10 richest men in the world for the profits they made during the pandemic could fund everyone’s (and their mother’s) vaccines, as well as universal healthcare in countries that don’t have it. Oh, the hypothetical tax could also change the course of global warming, according to the Fast Company. There’s a lot else we could do with that money, as media outlets pontificated something fierce: cover our entire defense budget and pay for the extension of the child tax credit, for example. Shit, they could probably get rid of our acne, move our terrible exes to the moon, and buy all of us Yeezys.

Jan 20 09:45

Oil nears $87 after Keystone Pipeline canceled one year ago

Joe Biden was inaugurated on Jan. 20, 2021, and within hours the new president could not wait to sign a slew of executive orders. Yet the one that has set the tone for his presidency and perhaps laid the groundwork for his plunging popularity and surging inflation was canceling the permit for the Keystone XL Pipeline.

Jan 20 09:45

How Biden torched the Trump recovery

The White House celebrated its first-year economic achievements by tweeting: “When @POTUS and @VP were sworn in, our economy was on the brink of collapse.”

That is a flat-out lie.

As Biden first set foot in the Oval Office a year ago, real GDP was growing at 6.3 percent, inflation was 1.4 percent, the price of gasoline was $2.39 a gallon and Michigan’s consumer sentiment index stood at 79. Today, real growth has slowed to just over 2 percent, inflation is at 7 percent, gas is up to $3.31 a gallon and the Michigan Index is 68.8.

In addition, real wages dropped 2.4 percent over the past year, with inflation overwhelming pay hikes after several years of gains under President Trump.

Jan 20 09:44

All that online holiday shopping led to record product returns, and that's a problem

Record online shopping this holiday season has fueled another record for e-commerce companies: returned goods.

Prompted by a clogged supply chain, millions of shoppers began browsing Amazon, Walmart and other online retailers even before Black Friday, when holiday discounts traditionally start. Cooped up at home because of the pandemic, people didn't stop clicking. Online sales reached $205 billion in the US, according to Adobe, a new holiday season high.

Webmaster's Commentary: 

One major problem causing returns is that clothing manufacturers do not follow any standard in the size of clothing. What one retailer describes as size 5 is another retailers' size 7.

Jan 20 08:47

COMEX Gold Trade at Settlement

Jan 20 08:42

Car Thieves Are Stealing People's License Plates, Placing Them On Identical Stolen Cars And Racking Up Tickets

Car thieves in San Francisco are stealing people's license plates, placing them on identical model stolen cars and then driving around town racking up tickets which are sent to their victims.

Jan 20 08:23

Will Ukraine crisis destroy Russian economy?

The Western media, as well as multiple US officials, have repeatedly warned of an imminent Russian invasion of Ukraine over the past few months and threatened Moscow with severe sanctions if this happens. Washington and its allies have cited the movement of Russian troops within the country’s vast Western territory as ‘proof’ of such plans. Moscow has consistently denied the allegations, insisting it has a right to carry out military maneuvers within its borders as it pleases.

Jan 20 08:22

US warns it may ban chip exports to Russia

In a phone call last Friday, White House National Security Council (NSC) officials Peter Harrell and Tarun Chhabra reportedly told representatives of the Semiconductor Industry Association (SIA) to get ready for immediate actions in the chip sector if Russia invades Ukraine.

Following the phone call, the SIA director wrote in an email to the board seen by Reuters that “the [US] administration is actively considering any and all options,” including potentially blocking Russia’s access to global electronic supplies.

“The NSC relayed in blunt and stark terms the gravity of the situation they are currently grappling with in Ukraine, noting that this is an extraordinary situation and potentially the worst cross border invasion to take place since World War II,” the message reportedly read.

Webmaster's Commentary: 

Russia will just get their chips from Taiwan and China.

Jan 20 08:20

Foreigners selling up property in Kiev – expert

Foreign property owners in Kiev are actively selling up as the market reacts to concerns that Russia could be planning to invade its neighbor, the head of a real estate agency in the Ukrainian capital has claimed.

Speaking to news outlet Strana on Wednesday, Irina Lukhanina, director of the Best&Seller firm, said that “in recent years, foreigners amounted to 8-12% of buyers. Many have invested in commercial real estate and were also interested in rental housing.”

Jan 20 08:12

Yuan rises in ranks of top global currencies

The yuan has now firmly placed itself among the world’s top five most popular currencies for cross-border payments, securing the fourth spot for the first time in six years.

When the Society for Worldwide Interbank Financial Telecommunications (SWIFT) started tracking cross-border payment messages in 2010, the yuan ranked only 35th.

The Chinese currency’s transaction activity recently surged to its second-highest level on record, Reuters reported citing SWIFT. The yuan accounted for roughly 2.7% of global payments in December 2021.

Against the US dollar, the yuan posted its second straight year of gains in 2021. It also became last year’s best performing emerging market currency, rallying on surging exports, a growing trade surplus, and robust capital inflows into Chinese assets. Data shows global holdings of Chinese government bonds also hit a record high last month.

Jan 20 08:09

Peter Schiff: The Fed Made This Bed And Now We Have To Lie In It

Inflation is running hot. Economic data is running cold. Stocks and bonds are under pressure. The Fed is scrambling. In his podcast, Peter Schiff talked about the trajectory of the economy. He said we’re on the cusp of the most obvious crisis that virtually nobody saw coming. The Federal Reserve made this bed. Now we have to lie in it.

Stocks and bonds are off to a rough start in 2022 with the expectation of rate hikes on the horizon. In fact, many analysts now think that the Fed could raise interest rates five times in 2022. And some also think the first hike in March could be 50 basis points.

Hedge fund manager Bill Ackman called a .5% rate hike “shock and awe.”

Peter called this “ridiculous.”

Jan 20 08:04

Supermarkets Report Food Shortages After Canada Imposes Trucker Vax Mandate

Overwhelmed supply chains and truck driver shortages worsened when Canada imposed new border mandates prohibiting unvaccinated American truckers. With low vaccination rates among US drivers, Canadian supermarkets are already reporting rising food inflation and shortages of certain products, according to Bloomberg.

Canada's vaccine mandate for truckers came into effect on Saturday. The new rule requires US truckers to be vaccinated to cross the border. We warned earlier this week such a mandate would have "consequences."

The vaccine mandate has exacerbated the shortage of truck drivers and made wait times at border crossings even longer. Eighty percent of trade between the US and Canada is transited by truck. America exports about 90% of Canada's fruits and vegetables during the winter season. As shipments decline because only about half of US truck drivers are vaccinated, grocery stores report shortages.

Jan 20 07:30

STARVING AFGHANS USE CRYPTO TO SIDESTEP U.S. SANCTIONS, FAILING BANKS, AND THE TALIBAN

WHEN THE TALIBAN took over Afghanistan in August of last year, Fereshteh Forough feared that the group would close her school in Herat, the country’s third-largest city. Code to Inspire, an NGO Forough founded, was teaching computer programming to young Afghan women, and the Taliban oppose secondary education for women.

Months later, the picture is much different — and worse — from what Forough imagined. The school survived, becoming mostly virtual, but has transformed from a coding boot camp into a relief organization. The biggest risk for Forough’s students wasn’t lack of education, it was hunger. Forough looked for a way to provide emergency checks to the women but was stymied by banks that don’t want to risk violating severe U.S. sanctions.

Jan 19 17:02

Moldova declares state of emergency

The government of Moldova has declared a new 60-day state of emergency, following a warning from Russian energy firm Gazprom that it could halt gas deliveries to the country due to unpaid bills.

Prime Minister Natalia Gavrili?a announced the news at a cabinet session on Wednesday, saying, “the decision has been approved. It must now be confirmed by parliament. After that, an emergency commission will take full measures to ensure that consumers have uninterrupted access to gas.”

Jan 19 14:59

American grocery store shelves growing increasingly bare as Biden supply chain crisis accelerates

The mainstream media doesn't have much to say about it.... but... Americans around the country have taken to social media, Reuters noted, to post photos of empty or barren pasta, meat, and produce aisles at some Walmart stores and other major retailers including a Meijer store in Indianapolis, which was out of chicken; a Palm Beach, Fla., Publix that was out of toilet paper and home hygiene products; and Costco stores in Washington state that have reimposed purchase limits.

Jan 19 14:34

When Higher Prices Are Not Inflation

Jan 19 14:21

China shuts down more ports due to “covid,” global supply chain collapse imminent?

China’s “covid-zero” policy means that consumer goods will now have an even more difficult time getting out of China to the rest of the world. Some of the supply is being rerouted through Shanghai, but it will not be enough to avoid the same types of congestion bottlenecks – or worse – that occurred last summer. -- The United States is still feeling the effects of this as at least 105 supply ships float off the West Coast with no end in sight. That number will soon skyrocket as China engages in more economic warfare under the guise of fighting “covid.”

Jan 19 13:43

Russia Dumps $900 Million More in US Treasuries as Total Investment Hits Historic Low

Once one of the largest holders of US debt, Moscow has gradually whittled away at its T-Bill stocks and dollar holdings after 2014 over the crisis in Ukraine, switching to euros, yuans, gold and other alternative investments and stores of value.

Russia has continued to reduce its holdings of US debt, with total investment dropping from $3.7 billion to $2.4 billion in November 2021, fresh US Treasury data published Tuesday has revealed. Russian investment now includes $2.3 billion in short-term bonds, and $101 million in long-term bonds, according to the Treasury.

Russian investment in US debt has dropped to just 1.3 percent of its 2010 peak of $176.3 billion over the past twelve years, with Russia tumbling from the ranking of the top 15 holders of US debt in 2018.

Jan 19 11:30

Tesla Driver Operating in Autopilot Charged with 2 Counts of Manslaughter

By B.N. Frank

Last month Tesla recalled hundreds of thousands of its vehicles in the U.S. and China. Of course, Tesla recalls are nothing new. In addition to recalls, various dangerous incidents and issues have been reported and continue to be reported about Tesla vehicles. Last year, the U.S. government started an investigation on Tesla’s autopilot feature. Police officers injured by a Tesla being operated in Autopilot filed a lawsuit against the company as well. Nevertheless, the company continues to offer features that allow cars to drive customers instead of vice versa. Naturally, Tesla owners aren’t required to use these features if they have safety concerns...

Jan 19 11:28

US seeking ways to profit should Russia-Ukraine conflict break out – reports

The US State Department has reportedly held talks with international energy majors on the possibility of contingency supplies of liquefied natural gas (LNG) to Europe if conflict between Russia and Ukraine disrupts deliveries.

Over the past several months, the White House has repeatedly expressed the concern that Russia is preparing to launch a military assault on Ukraine. Russia has made it clear it has no such plans.

The US administration has threatened Moscow with another round of “crippling” sanctions in the event of a conflict between the neighboring states.

The imposition of penalties could disrupt the supply of Russian LNG to Europe, which accounts for about a third of European energy imports, and would inevitably exacerbate the energy crisis that has recently hit the region.

Jan 19 10:56

Rand Paul Releases Damning Report On Rising Inflation: ‘It’s Only Going To Get Worse’

Kentucky GOP Sen. Rand Paul released a damning report this week on rising inflation and its troubling effects on low and middle-income families and small businesses.

In an 18-page report called “The Hidden Tax,” Paul, who serves on the Senate Committee on Small Business and Entrepreneurship, blames the 7% spike in consumer prices – a 40-year high – on “excessive coronavirus relief spending by Congress.”

Paul is also warning that the rising prices are “only going to get worse.”

“In recent months, prices on nearly everything from gas, food, and clothes to electricity, car prices, and rent, have all increased, and unfortunately it’s only going to get worse,” Paul said in a statement. “Congress needs to realize that further spending at this time of rapidly rising prices is only going to continue the trend of rising prices on this nation’s already vulnerable businesses and families.”

Jan 19 10:34

What’s The Number? 2022 Edition

Jan 19 09:05

US Imperialism and European Vassals are Real Enemies of Europe

Russia finds itself in a fiendish situation, one that’s almost laughable if it were not so dangerous. One where the right to defence is distorted as an offense, and vice versa.
And then on top of that, there is a slippery slide towards conflict because Russia is dealing with American and European idiots who have no mental brakes.

Here’s the theatre of absurd in a nutshell: Moscow is warned by American and European hotheads that if it escalates tensions over Ukraine then Russia will face severe consequences.

US undersecretary of state Victoria Nuland sounded gung-ho when she told media that there would be “very sharp and very fast pain” for Russia “if it makes a move” that is perceived to be hostile to Ukraine.

The Biden White House has been threatening to cut Russia off from international banking systems. That would be tantamount to declaring war.

Jan 19 08:46

DARPA FUNDS SOYLENT GREEN AS #BARESHELVESBIDEN TRENDS

Fertilizing crops with a slurry of human remains and human excrement is bad but apparently, it’s not bad enough for our Satanic overlords, who aim to take out the middleman – that is, the crops – and simply let us eat sh¡t.

Ice Age Farmer, Christian Westbrook is back with more news about the engineered food crisis being generated by the Omnicron and asymptomatic positive COVID tests, causing labor shortages of fruit pickers, to warehouse employees, to FDA inspectors at meat factories, to truck drivers, etc., etc.

Jan 19 08:34

Impossible to Switch Off Nord Stream 2, Gas Deliveries Have Not Started Yet, Moscow Says

It is impossible to switch off the Nord Stream 2 project as gas deliveries have not started yet, Kremlin spokesman Dmitry Peskov said on Wednesday, adding that this kind of situation has a negative impact on European consumers.

"Russia is regularly, daily threatened by someone. The commercial international project Nord Stream 2 cannot be turned off, because it has not yet been turned on," Peskov told reporters when asked about German Chancellor Olaf Scholz’s statement on the possibility of switching off the project in case of escalation in Ukraine.

Peskov went on to say that the situation in Ukraine is tense and additional deliveries of weapons there may escalate it further.

“As for the tense situation in Ukraine, it is indeed very, very tense. We see the supply of weapons there, we see various maneuvers, flights of aircraft from NATO and Western European countries. This is all leading to tensions around Ukraine," Peskov told reporters.

Jan 19 07:57

Another Major Shortage Alert: The Florida Orange Crop In 2022 Will Be The Smallest Since World War II

Over the past couple of years, we have been hit by one thing after another.  Whenever it seems like things may be calming down, another crisis suddenly erupts, and as a result a lot of Americans have developed a really bad case of “crisis fatigue” at this point.  According to Google, crisis fatigue is “a burnout response to prolonged exposure to unexpected and stressful events”. Perhaps you can identify with that definition because it sounds exactly like what you are experiencing. Unfortunately, the truth is that what we have been through so far is just the beginning.  As I have been warning for years, as “the perfect storm” gets rolling it is just going to keep getting worse and worse.

Jan 19 07:38

US tells Israel it no longer supports EastMed pipeline project: Report

The Biden administration has informed Israel, Greece, and Cyprus in recent weeks that the US no longer supports the proposed EastMed natural gas pipeline from Israel to Europe, a diplomatic source told the Jerusalem Post.

State Department officials conveyed the new position to the Israeli foreign ministry, a diplomatic source in Jerusalem confirmed to the newspaper on Tuesday.

Middle East Eye reported earlier this month that Washington had silently abandoned the pipeline project, sending Greece its concerns about it in a "non-paper", an unofficial diplomatic correspondence.

Jan 19 07:11

Massive blast shuts down major oil pipeline

A Turkish state-run petroleum firm has cut off the flow of oil from the Kirkuk-Ceyhan pipeline following a mysterious explosion and the resulting blaze, with the aftermath reportedly caught in images circulating online.

The explosion rocked a section of the pipeline in Turkey’s southeastern province of Kahramanmaras on Tuesday night, about 108 miles (175km) from the line’s terminal in Ceyhan, BOTAS Petroleum Pipeline Corporation said in a statement. The cause of the blast remains unclear.

“There was an explosion for an unknown reason, and a fire occurred as a result. The oil flow was immediately stopped by BOTAS teams and technical safety measures were taken,” the firm said, adding, “the line valves closest to the scene were closed” and that “many fire trucks, emergency response teams and related units are intervening.”

Webmaster's Commentary: 

Sabotage?

Jan 19 07:10

EU explains position on new Russia sanctions

The EU’s most senior diplomat Josep Borrell has ruled out the introduction of “preventive sanctions” against Russia over the situation in Ukraine, clarifying that any measures would only be implemented in case of an actual attack.

Borrell’s comments come as tensions on the Russian frontier with Ukraine remain high and as Moscow stands accused of placing over 100,000 troops in the area in preparation for an invasion. The Kremlin has repeatedly denied these suggestions.

Webmaster's Commentary: 

Europe is sending a signal that they do not want a war.

Jan 19 07:09

Germany Threatens To Halt Nord Stream 2 If Russia Attacks Ukraine

On Tuesday German Chancellor Olaf Scholz was asked directly in a press Q&A whether a Russian military offensive in Ukraine might lead to NATO military intervention on behalf of Kiev.

Scholz responded by underlining "serious" political and economic consequences, but appeared to rule out any assistance from Germany on the military front, saying there won't be arms deliveries either. But importantly, he said that Berlin would mull halting the flow of natural gas from Russia.

"Germany may consider halting the Nord Stream 2 pipeline if Russia attacks Ukraine, Chancellor Olaf Scholz signaled on Tuesday, as pressure grew on his government to take a more hawkish stance on the Kremlin," Reuters reports of the statements made after he met with NATO Secretary-General Jens Stoltenberg.

Webmaster's Commentary: 

This is a complete reversal of German policy. Germany is running out of gas and needs the Nordstream II pipeline, and only days ago Germany was asking for that pipeline not to be politicized and linked to the potential war.

Jan 19 07:07

China Is Chipping Away At America's Influence In The Middle East

Last week saw a series of meetings in Beijing between senior officials from the Chinese government and foreign ministers from Saudi Arabia, Kuwait, Oman, Bahrain, and the secretary-general of the Gulf Cooperation Council (GCC). At these meetings, the principal topics of conversation were to finally seal a China-GCC Free Trade Agreement and “deeper strategic cooperation in a region where U.S. dominance is showing signs of retreat,” according to local news reports.

Jan 19 07:06

Is The TAPI Pipeline Finally Ready To Go?

The Turkmenistan–Afghanistan–Pakistan–India (TAPI) natural gas pipeline has been long aborning, but its prospects recently got a shot in the arm.

The 1100-mile, $10 billion project has seen numerous delays since the pipeline consortium was announced in late 2014, though the project was first mooted in 1991. Construction started in early 2018 with a projected in-service date of 2021, but halted later that year after workers clearing the route were killed by unknown assailants. Also, the project’s $10 billion cost estimate is a decade old, and an update may cause further delay to the Asian Development Bank-funded effort that is now slated to resume work in September 2022. Turkmenistan will loan Afghanistan the funds for its share of the project, to be repaid from gas transit revenues.

Jan 19 06:54

Oil Spikes To Fresh 7-Year High After Key Iraq-Turkey Pipeline Explosion

Despite dollar strength today (and more worrisome ZeroCOVID actions from China), oil prices continued to rise but news after-hours that an explosion knocked out a major pipeline sparked more upside.

Little is known about the cause, but the explosion at a pipeline connecting Northern Iraq and the port of Ceyhan in the Mediterranean has taken 450kb/d of supply offline in an already very tight crude oil market.

Jan 19 06:53

Experts Are Warning That Empty Shelves And Food Shortages Are Going To Continue For Many Weeks To Come

The term “return to normal” is being thrown around a lot these days, but will things ever truly return to the way that they were before the pandemic came along? I don’t think so.

From an economic standpoint, an extraordinary amount of lasting damage has been done over the past two years. A seemingly endless list of major problems has thrown thousands upon thousands of critical supply chains into a complete and utter state of chaos, and this has resulted in some very painful shortages. For quite a while, the mainstream media kept insisting that the shortages would soon be gone, but now they are being forced to admit the truth. If you can believe it, NPR has even published a major story about the growing shortages in this country…

No, you’re not imagining it. Some grocery store shelves are bare again, conjuring bad memories of spring 2020 for many.

Jan 18 14:26

Kim Kardashian, Floyd Mayweather sued over crypto ‘pump-and-dump’ scheme

Jan 18 14:17

Rasmussen: Most US Voters Reject Notion of Global Economics' 'Great Reset'

Most voters reject the global economic idea of a "great reset" — nearly half saying businesses should focus on traditional goals such as consumer service and profit over social justice and the environment, a new survey found.

In the Heartland Institute and Rasmussen Reports survey released Tuesday, 45% of likely U.S. voters believe the top priority for businesses should be providing high quality products and services at the lowest prices.

That compares with 23% who think businesses should prioritize providing good benefits and pay to employees; 14% who say profit should be top priority; 9% who think climate change should top the list; and 1% who say businesses should prioritize social justice.

Jan 18 13:59

Wealthy Americans Look To Move Due To Biden Admin. High Tax Climate

More wealthy Americans are seeking to move out of the country with one foreign residency expert saying it may be due to a higher tax climate and regulations imposed by the Biden administration. One America’s John Hines has more.

Jan 18 13:27

New empty store shelf photos from readers paint a much different picture from what Biden’s ministry of truth is telling us: They are using food as a weapon

While Joe Biden’s White House put out a statement claiming such photographs, seen also in social media images across America, were ‘disinformation‘ and actually contained photos taken during President Trump’s time in office, you know it has gotten really, really, really bad for Biden and Democrats when even Reuters recently put out this story titled “U.S. grocery shortages deepen as pandemic dries supplies”. -- And while linking to that story on his website Saturday morning, Steve Quayle warned the story was a “False narrative”, as globalists it’s become increasingly obviously they’ve “begun the accelerated starvation against the US population”, the mere fact that the msm is finally reporting upon what the independent news has been warning about for quite some time is another sign of things to come.

Jan 18 13:16

Syria, Crimea to develop trade exchange through Crimean ports

Permanent Representative of the Republic of Crimea under the President of Russia, Georgy Muradov, said that the Crimean ports could become the main southern sea gateways for Russia, as part of developing trade and economic relations with Syria.

“The Crimean ports are ready to become the main southern sea gateways for Russia to help developing trade and economic relations with Syria, and they are open to importing the marketable products to and from Syria without fear of any sanctions”, Muradov told Sputnik News Agency.

The representatives of other Russian regions can trade with Syria through Crimea, noting that a joint commercial center has already been established between Crimea and Syria, while we are working to increase the volume of trade exchange, Muradov added.

Jan 18 13:01

Oxfam Calls On Govt. To Impose 99% One-Time Tax On Rich

An anti-poverty organization calls for the government to impose a one-time tax on the world’s billionaires to fund COVID-19 vaccines.

On Monday, Oxfam called for a 99 percent tax on the world’s richest, suggesting the money be used to fund the production of vaccines for the poor. The group argues the super wealthy benefited from the pandemic as financial stimulus pumped up stocks.

Oxfam International Executive Director, Gabriela Bucher is even comparing the pandemic to World War II while suggesting similar measures must be taken.

“There are several countries considering a wealth tax and, in fact, during during World War II it was done,” she explained. “There was tax at 100 percent to address the extreme effects of the war. So we are in a similar situation of crisis now, so we’re looking at considering that type of measure.”

Jan 18 11:35

Federal Reserve balance sheet’s a ‘disaster’: Dick Bove

Odeon Capital Group chief financial strategist Dick Bove argues the Federal Reserve is in one of ‘the worst’ positions he’s ever seen and it will ‘slow down’ the growth of money in the U.S.

Jan 18 11:27

Dow falls 500 points to start the week as rates rise, Goldman drops 8% on earnings miss

The major averages fell sharply Tuesday after Goldman Sachs reported disappointing earnings and as government bond yields hit Covid-era highs.

The Dow Jones Industrial Average slipped by 580 points, or 1.6%. The S&P 500 fell 1.7%, and the Nasdaq Composite declined 2.1%. U.S. markets were closed Monday due to the Martin Luther King holiday.

Goldman Sachs shares ticked more than 8% lower on Tuesday after the bank missed analysts’ expectations for its fourth-quarter earnings. Goldman’s operating expenses surged 23% on increased pay for Wall Street employees.

Jan 18 11:22

Minnesota Bank BANS MyPillow CEO's Bank Accounts

Jan 18 11:16

Global Governance Versus Freedom And Free Enterprise

By Lipton Matthews

When assailing global governance, pundits rarely comment on its impact on small countries. Yet the degree to which small countries are ignored by global institutions—like the G7, the International Monetary Fund, and the World Bank—helps to illustrate how institutions of global governance tend to primarily reflect the values of managerial elites from large and wealthy states.

That is, global policies are earnestly tailored by rich states in the West in response to specific challenges. In Western countries leaders have expressed concern that major corporations use tax havens as a mechanism to lower their tax burden. Therefore, to rectify the problem, leaders of G7 nations are recommending a minimum corporate tax rate of at least 15 percent.

Jan 18 11:05

Poll: Americans See Biden Is Doing Nothing To Fight Inflation

A large majority of American voters do not believe President Joe Biden's priorities are in the proper order when it comes to record-setting inflation currently ripping the country; a sinister new poll showed on Sunday.

The agenda items the Progressive President has been focused on, like his $1.75 trillion Build Back Better bill, are only pushing his critics further away, according to the poll from CBS News and YouGov.

Jan 18 11:04

Make Preparations! Canadian Cross Border Trucking Vaxx Mandate Now In Effect, Domestic Trucking Mandate Starts Next Week

It will take a few days to see the consequences, but there will be consequences.

Keep in mind, any impact is taking place in a supply chain system that is already tenuous and unstable at best. A small disruption that may have been minimally significant against a fully operational supply chain, is more likely to be a much bigger disruption in a supply chain that is already under a severe amount of demand side stress. Somewhere in the range of 16,000 to 38,000 daily loads are likely to be impacted.

When questioned about this, Canadian Intergovernmental Affairs Minister Dominic Leblanc says the trucking industry “has had adequate time to prepare for this.” Keep in mind, the mandate was announced 45 days ago (November 30th). According to the Canadian government, changing the structural rules for all the logistics and commerce in cross border shipping, 45 days is enough notice.

Jan 18 10:44

Germany reveals when it will run out of gas

Natural gas reserves in Germany, which has one of the highest underground gas storage capacities in Europe, have fallen to historically low levels compared with previous years.

“According to the consolidated register of gas storage facilities of the European association Gas Infrastructure Europe, Germany’s gas storage facilities are 50.6% full (as of January 11, 2022),” the German Ministry of Economy said in response to a deputy's request as quoted by RIA. “This corresponds to a theoretical working gas availability of 17.7 days,” it added.

This comes as Russian energy giant Gazprom said on Monday it has not booked any capacity to pump gas to Europe through the Yamal pipeline next month. The Yamal-Europe pipeline, which usually delivers Russian gas west into Europe, continued to send it eastward from Germany to Poland for a 28th successive day on Monday, data from German network operator Gascade showed.

Jan 18 09:08

America is lurching from pandemic to major recession, after Biden's massive government spending programs released the inflation Kraken, writes ANDY PUZDER

As we emerge from the pandemic, Joe Biden's economic policy bungling is driving America into a brick wall of malaise and stagflation.

For those of us who lived through it, the comparisons to Jimmy Carter's failed presidency are hard to ignore.

So, why is the Biden administration so determined to ignore both the cause of Carter's economic failure and President Ronald Reagan's very successful formula for reversing it?

Jan 18 08:56

Energy Commodity Prices Increased By 59% In 2021, EIA Reports

The prices of energy, crude and gasoline all increased in 2021 from 2020, the U.S. Energy Information Agency reports. Prices increased because of higher demand and a range of other factors.

By the end of 2021, commodities on the energy index traded 59% higher than they did on the first trading day last year on the S&P Goldman Sachs Commodity Index (GSCI), the EIA reports.

GSCI is a commodity index that tracks the performance of global commodities markets. It’s a weighted average that’s updated every year. In 2021, the energy index comprised 54% of the GSCI, with the two crude oil benchmarks, the West Texas Intermediate (WTI) and Brent, accounting for approximately 70% of the energy index. WTI crude oil accounts for the largest share of the overall GSCI of more than 21%.

Jan 18 08:52

David Hunter: 2022 Market Crash?

Jan 18 08:01

Rumble Announces Investment to Create Independent Payment Processor

Today, the video platform Rumble announced that it has taken a stake in Parallel Economy, a transformative payment processing company. Rumble's investment in Parallel Economy furthers the company's mission to build the rails and independent infrastructure for a digital economy immune from cancel culture.

Founded in 2021, Parallel Economy is creating a financial ecosystem where creators can participate in the marketplace of ideas. Parallel Economy was started by Dan Bongino, the host of a nationally syndicated radio show and cable television news program, and Jeffrey Wernick, an early bitcoin adopter and angel investor.

Jan 18 07:34

China's Property Sector Is Crashing Again And This Time It Has Reached The Country's Biggest Developer

The crisis engulfing China's property sector - which has prompted Beijing to capitulate on its tightening ambitions yet again, and forced China to launch an increasingly more aggressive easing campaign, which so far culminated in the first rate cut in Chinese official rates in almost two years - has impacted the country's biggest developer, sending the shares and bonds of Country Garden Holdings - which is even bigger than Evergrande - plunging amid fears that a reportedly failed fundraising effort may be a harbinger of waning confidence.

Country Garden is one of the few remaining large, (arguably) better-quality private developers that had been largely unscathed by the liquidity crunch, even as peers such as Shimao Group Holdings - a recently investment grade developer whose collapse in December was viewed as "more devastating than debt crises at Evergrande and Kaisa" - dramatic reversals in their credit ratings.

Jan 18 07:27

US Scrambles For 'Contingency Plans' From Energy Firms On Gas Supply Crunch Amid Russia-Ukraine Crisis

Within the past days of ratcheting tit-for-tat accusations, it's also been revealed that the Biden administration is seeking to reassure European partners of 'contingency plans' should a Ukraine-Russia conflict disrupt the transfer of energy supplies to the European Union. Russia is source fpr up to one-third of all of Europe's critical gas supplies.

The Biden White House is still threatening severe sanctions, which also holds the potential for Russia using its energy supplies as a retaliatory weapon. Reuters revealed in its weekend reporting that "State Department officials approached the companies to ask where additional supplies might come from if they were needed, two industry sources familiar with the discussions told Reuters, speaking on condition of anonymity due to the sensitivity of the matter."

Webmaster's Commentary: 

And Biden just reversed Trump's plan to expand oil development in Alaska!

Jan 18 07:21

Union Pacific Bashes LA's Social Justice Reform, Threatens To Leave City Amid Soaring Train Thefts

A top Union Pacific Railroad official threatened to leave Los Angeles over the District Attorney's progressive measures to lower criminal theft offenses amid a wave of criminal gangs looting rail cars.

Adrian Guerrero, Union Pacific's director of public affairs, wrote a letter to LA County District Attorney George Gascón, denouncing the local government's relaxed criminal policies, or rather "well-intentioned social justice goals," as a catalyst for a wave of rail car thefts.

"We find ourselves coming back to the same results with the Los Angeles County criminal justice system. Criminals are caught and arrested, turned over to local authorities for booking, arraigned before local courts, charges are reduced to a misdemeanor or petty offense, and the criminal is released after paying a nominal fine," wrote Guerrero.

Jan 18 06:42

Western governments drop plans to cut Russia off from SWIFT – media

German newspaper Handelsblatt has reported that Western leaders have ruled out the possibility of disconnecting Russia from the global banking interchange SWIFT. However, the US government has contradicted the assertion.

“No option is off the table,” a spokesperson for Washington's National Security Council told reporters on Monday.

The denial comes after Handelsblatt claimed that the US had, in fact, given up on the threat of removing Russia from SWIFT in talks with the German government. If the Society for Worldwide Interbank Financial Telecommunication cuts ties with Russian banks, Germany would have no way of paying Moscow for its natural gas contracts.

It could also unleash a catastrophic rise in oil and food prices.

Jan 18 06:35

U-Haul Literally Ran Out of Trucks Leaving California

U-Haul put out its annual review of interstate moves in 2021, and Texas and Florida were the big inbound winners:

No state netted more U-Haul® customers during the last year than Texas. The Lone Star State earned bragging rights as the leading growth state of 2021, narrowly besting Florida for tops honors, according to transactional data compiled for the annual U-Haul Growth Index. Tennessee ranks third, South Carolina fourth and Arizona fifth among the top growth states. Growth states are calculated by the net gain of one-way U-Haul trucks entering a state versus leaving that state in a calendar year. Migration trends data is compiled from well over 2 million one-way U-Haul truck customer transactions that occur annually.

California, however, bled outbound citizens so badly, it broke U-Haul’s ability to measure — because the company ran out of trucks to rent:

Jan 18 06:35

Vaccine Mandate for Cross Border Trucking Now in Effect, Mandate for Domestic Trucking Begins in a Week, Prepare Your Affairs Accordingly

The cross border vaccine mandate for truckers in/out of Canada is now in effect. The U.S. vaccine mandate takes effect on January 22nd.

It will take a few days to see the consequences, but there will be consequences.

Keep in mind, any impact is taking place in a supply chain system that is already tenuous and unstable at best. A small disruption that may have been minimally significant against a fully operational supply chain, is more likely to be a much bigger disruption in a supply chain that is already under a severe amount of demand side stress. Somewhere in the range of 16,000 to 38,000 daily loads are likely to be impacted.

Jan 18 06:33

Politics Is Dead, Here’s What Killed It

Here's "politics" in America now: come with mega-millions or don't even bother to show up. Choose which "enemies list" you want to be on; there's not much choice. And don't forget to put a flower on the grave of representational democracy. The Federal Reserve transferred trillions of dollars of unearned wealth into the feeding troughs of the super-wealthy and corporations, vastly increasing the wealth the top 0.01% had to buy elections and favors. The Federal Reserve cloaked its treachery with jargon-- quantitative easing, stimulus, etc.--and then stabbed the nation's representational democracy in the back.

Jan 18 01:28

Experts Are Warning That Empty Shelves And Food Shortages Are Going To Continue For Many Weeks To Come

The term “return to normal” is being thrown around a lot these days, but will things ever truly return to the way that they were before the pandemic came along?  I don’t think so.  From an economic standpoint, an extraordinary amount of lasting damage has been done over the past two years.  A seemingly endless list of major problems has thrown thousands upon thousands of critical supply chains into a complete and utter state of chaos, and this has resulted in some very painful shortages.  For quite a while, the mainstream media kept insisting that the shortages would soon be gone, but now they are being forced to admit the truth.  If you can believe it, NPR has even published a major story about the growing shortages in this country…

Jan 18 00:16

Union Pacific takes issue with LA’s soft-on-crime appoach

That’s not likely to help supply chain issues all that much, but it can’t be worse than having so many containers robbed each and every day. -- The problem, as Union Pacific notes, is that when there are arrests made, the charges get dropped down to misdemeanors with just a fine, putting the culprits back out onto the streets so they can rob the railroad yet again. -- Frankly, I don’t blame them for considering how to bypass the city entirely. I sure would.

Jan 17 16:32

White House Denies Report Saying US & EU Rule Out Russia's Disconnection From SWIFT

Earlier, Germany's Handelsblatt newspaper reported, citing German government sources, that Western governments are no longer considering cutting Russian banks off from the SWIFT global payments system.

The White House has denied a report saying that the US and EU have abandoned their plans to disconnect Russia from the SWIFT system as part of restrictive measures that would be imposed if Russia invades Ukraine.

The US does not rule out such a possibility, a spokesperson for the White House National Security Council said, quoted by the presidential pool.

He added that Washington has remained in close contact with its European colleagues concerning possible grave consequences for Russia should it invade Ukraine.

This comes after earlier on Monday, Handelsblatt reported, citing German government sources, that the West was no longer opting for blocking Russia from SWIFT and was mulling economic sanctions against major Russian banks as an alternative.

Jan 17 13:48

Biden’s approval rating bottoms out as vast majority of Americans see democracy “in danger of collapse”

Joe Biden’s presidency continues to collapse, if the steady cratering of his approval ratings is any indication, proving once again that there is no way this basement campaigner garnered ‘the most votes in the history of the country.’ -- According to a new Quinnipiac University survey, Biden’s approval has all but bottomed out at just 33 percent, the lowest of his failed presidency thus far and far below Donald Trump’s real approval ratings at this time in his presidency, while 53 percent of respondents say they disapprove of the job he’s doing (such as it is).

Jan 17 11:28

A Great Opportunity to Restore the Republic

But make no mistake about it: If foreign interventionism generates another such attack, the national-security establishment will seize on it to justify ever-increasing power, money, and influence, just as it did with the 9/11 attacks. -- That’s why the American people should seize the day and use this opportunity to restore our nation’s founding governmental system — a limited-government republic — to our land. They should do so now because the window of opportunity might not be there tomorrow.

Jan 17 10:42

Girlboss: How a 19-Year-Old in a Steve Jobs Turtleneck Snookered America’s Failed Ruling Class

Alongside all the hype and chatter about the January 6 anniversary, there was another worthy news story the first week of 2022. On Monday, January 3, a federal jury in California convicted Theranos founder Elizabeth Holmes on three counts of wire fraud and one of conspiracy to defraud investors. Holmes, six years removed from being the richest self-made woman in the world, now faces as many as twenty years in prison, though she will likely receive less.

While it’s always good to see criminals receive their just desserts, there is another upbeat aspect to the Holmes saga. The conviction of Holmes isn’t just an indictment of her fraudulent business practices. It’s a profound and permanent humiliation for America’s entire incompetent, vacuous leadership caste.

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