Average American Lost Over $4200 Under Biden


Armstrong Economis Blog/Politics Re-Posted Sep 26, 2022 by Martin Armstrong

A new report by the Heritage Foundation claims that the average American had lost over $4,200 in annual income since Biden was sworn in due to rate hikes and inflation. They clearly are not factoring in retirement accounts or other investments, as most have lost substantially more.

Consumer prices are up 12.7% since January 2021, equating to each American losing $3,000 in purchasing power. The foundation estimates that the higher cost of borrowing has cost Americans another $1,200 annually. Mortgages have doubled, consumer debt is rising, and every area of life costs substantially more.

EJ Antoni of the foundation points out that Biden failed to act as inflation began to rise and pushed Congress to continue spending. The Fed miscalculated the situation and called the situation “transitory” while allowing the printing press to roll. Both Biden and the Fed attempted to dismiss inflation to avoid responsibility. Antoni stated:

“This financial catastrophe for American families is the direct result of a president and Congress addicted to spending our money, combined with a Federal Reserve compliantly enabling this addiction by printing more dollars. Washington recklessly spent trillions of dollars it did not have and paid for it with newly printed money, causing rampant inflation that has destroyed people’s purchasing power and jeopardized Americans’ financial futures.”

All gains under the Trump era have been erased in less than two years. Biden began paying people to sit at home and not work when he took office. Thousands were forced to leave their jobs due to COVID mandates. When people went back to work, the current administration led the public to believe that they were doing well due to higher wages, when in reality, inflation consumed any gains.

Biden eliminated America’s energy independence and created an energy crisis domestically that did not previously exist. Biden put America in direct confrontation with Russia and continues to funnel billions through Ukraine when some American cities do not even have clean drinking water. The $4,200 estimate is extremely low, considering that major US indexes are significantly down. Simply put, we are all worse off under the Biden Administration.

Sunday Talks, National Security Advisor Jake Sullivan States the U.S. Will Never Relinquish Control of Ukraine as a Proxy State


Posted originally on the conservative tree house September 25, 2022 | Sundance

Appearing on CBS Face the Nation today, National Security Advisor Jake Sullivan proudly boasted of the $15 billion in weapons the U.S. has shipped into Ukraine, while restating the official position of the Biden administration that the U.S. will never permit Russia to hold the eastern part of our proxy state.

Ukraine is to the United States as North Korea is to China. WATCH:

[Transcript] – MARGARET BRENNAN: We turn now to White House National Security Adviser Jake Sullivan. Good morning to you, Jake. Thank you for joining us.

NATIONAL SECURITY ADVISOR JAKE SULLIVAN: Thanks for having me.

MARGARET BRENNAN: President Zelenskyy told us that if this annexation happens, it will make diplomatic talks with Vladimir Putin impossible. They need artillery in Ukraine, he says, more air defense systems and tanks. Will they get it? And how significant of an escalation is this?

SULLIVAN: Well, Margaret, not only will they get it, but they’ve been getting it. The United States at this point alone has provided more than $15 billion in weapons, and that’s included air defense systems, hundreds of artillery pieces, hundreds of thousands, if not millions of rounds of artillery. And we facilitated the transfer of tanks from NATO allies who have the Soviet era tanks that the Ukrainians have trained on, we will continue to do all of that. As President Biden made clear on Friday, nothing that Russia has done with this mobilization of troops, with the sham referenda in the occupied regions, is going to deter us from providing Ukraine with the necessary means and technologies they need to defend themselves. And what Putin has done is not exactly a sign of strength or confidence, frankly, it’s a sign that they’re struggling badly on the Russian side. And we’re going to help the Ukrainians be able to take advantage of the gains they’ve made, and to continue to push back against the Russian forces that are brutally occupying portions of their country.

MARGARET BRENNAN: Yesterday, Putin replaced one of the top logistics generals with a man who’s known as “the Butcher of Mariupol.” Are we seeing the beginning of the collapse of the Russian army?

SULLIVAN: I think it’s too soon to make comprehensive predictions like that. I think what we are seeing are signs of unbelievable struggle among the Russians, you’ve got low morale, where the soldiers don’t want to fight. And who can blame them because they want no part of Putin’s war of conquest in their neighboring country. You’ve got Russia having depleted its stores of prec- precision guided munitions. You’ve got Russia disorganized and losing territory, to a capable Ukrainian force. And you’ve got a huge amount of infighting among the Russian military leadership, and now the blame game has started to include these replacements. So Russia is struggling, but Russia still remains a dangerous foe, and capable of great brutality, as we’ve seen with these mass graves outside of Izium. So we continue to take that threat seriously. And we continue to see our obligation, being providing Ukraine all that it needs to be able to effectively defend itself and defend its country and defend its freedom. That’s what we’re intent on doing. And we are not taking our eye off the ball.

MARGARET BRENNAN: Vladimir Putin will carry out this annexation of eastern Ukraine within the next few days. If Russia is expanding its nuclear umbrella over this part of the country. Does that put the US in more direct conflict with Russia? And does a nuclear weapon being used there, p-put Russia in conflict directly with the US and NATO?

SULLIVAN: We have been crystal clear up to and including President Biden that we will not recognize the sham referenda, they in no way represent the will of the Ukrainian people. And we will treat this territory for what it is – Ukrainian territory, not Russian territory. And we will continue to support the Ukrainians as they seek to deoccupy this territory. So we’ve been clear, we’re not going to stop or slow down our support to the Ukrainians, no matter what Putin tries to do with these-these fake elections and fake referenda and annexation. Now, when it comes to the question of nuclear use, President Putin’s been waving around the nuclear card at various points through this conflict the last few days are not the first time–

(CROSSTALK)

MARGARET BRENNAN: –But he hasn’t been as cornered as he is now.

SULLIVAN: It’s true, and it is a matter that we have to take deadly seriously because it is a matter of paramount seriousness – the possible use of nuclear weapons for the first time since the Second World War. We have communicated directly, privately, at very high levels to the Kremlin, that any use of nuclear weapons will be met with catastrophic consequences for Russia, that the United States in our allies will respond decisively. And we have been clear and specific about what that will entail. We have, in public, been equally clear, as a matter of principle, that the United States will respond decisively if Russia uses nuclear weapons and that we will continue to support Ukraine in its efforts to defend its country and defend its democracy.

MARGARET BRENNAN: Russia has been talking about this nuclear power plant rather than nuclear weapons just for the past 24 hours. Where does that fall? Is this an escalating threat?

SULLIVAN: So, for your viewers, there is a nuclear power plant that is in Russian occupied portions of Ukraine. It has been put into cold shutdown to make it less likely that there’s some kind of catastrophic incident at the plant. It is actually still being operated by the Ukrainian operators who are essentially at gunpoint from the Russian occupying forces. And the Russians have been consistently implying that there may be some kind of accident at this plant. We’ve been working with the International Atomic Energy Agency and with Ukrainian energy regulators to try to make sure that there is no threat posed by a meltdown or something else from the plant. We will continue to do that, but it’s something we all have to keep a close eye on.

MARGARET BRENNAN: Jake, you’re a busy man watching the world right now. There’s a lot I want to ask you, but I have to ask you about Iran. And these protests led by women after the death of this 22-year-old woman who didn’t have her hair covered properly in the view of the morality police. She died. How significant is this, and is it making you reassess the offer you put on the table to lift sanctions on Iran in regard to its nuclear program?

SULLIVAN: Well, first, Margaret, the fact that we are in negotiations with Iran on its nuclear program is in no way impacting our willingness and our vehemence in speaking out about what is happening on the streets of Iran. President Biden went to the floor of the UN General Assembly and said that we stand with the brave citizens and the brave women of Iran as they stand for their rights and their dignity. We have in fact taken tangible steps to sanction those morality police –

MARGARET BRENNAN: Right.

(CROSSTALK)

SULLIVAN: – who caused the death of Mahsa Amini. We’ve taken steps to make it easier for Iranians to be able to get access to the internet and access to communications technologies that will allow them to talk to one another and to talk to the world. So, from our perspective, we will do all that we can to support the brave people the brave women of Iran –

(CROSSTALK)

MARGARET BRENNAN: – I was asking you, though, about the offer to lift sanctions off of Iran in regard to its nuclear program, because that would allow for the regime to have a financial lifeline.

SULLIVAN: Well, I think it’s important for everyone to understand that at the height of the Cold War, as Ronald Reagan was calling the Soviet Union “the evil empire” –

(CROSSTALK)

MARGARET BRENNAN: Right. Arms control.

SULLIVAN: – he was also negotiating an arms control with Russia. So that’s– that is what we’re talking about here. We’re talking about diplomacy to prevent Iran from ever getting a nuclear weapon. If we can succeed in that effort, and we are determined to succeed in that effort, the world America and our allies will be safer. And that will not stop us in any way from pushing back and speaking out on Iran’s brutal repression of its citizens and its women. We can and will do both.

MARGARET BRENNAN: Okay, so I understand the offer is still on the table. Strategy hasn’t changed. Jake, thank you very much for your time. We’ll be right back with a lot more Face the Nation. Stay with us.

The Police State Is Here (Ep. 1850) – The Dan Bongino Show


The Dan Bongino Show Published originally on the conservative tree house on September 13, 2022

In this episode, I address the shocking new moves by the deep state to intimidate and frighten team Trump. I also show disturbing video about digital currencies and how they plan to use them.

The History Books Will Prove This is an Industrial Example of The Great Pretending


Posted originally on the conservative tree house on September 24, 2022 | Sundance 

This is epic. This is like listening to Grandpa rail against the Federal Reserve and central banks without realizing the motive behind what the Federal Reserve and central banks are doing.   This is the best example to date of the misconception behind ‘The Great Pretending.’

U of Penn, Wharton Business School professor of finance, Jeremy Siegel, rails against Jerome Powell and the central bankers for raising interest rates into a collapsing western global economy.  Everything, everything he outlines, is essentially accurate about the damage being done to western economies. …. Except the biggest realization and acceptance is missing…. It’s being done by design.  The people he outlines are not making a mistake, they are doing it on purpose.  First, WATCH:

The U.S, EU, CA, AU and western economic central bankers did not respond sooner to the inflation crisis (2021) because the central banks were waiting for the politicians in their systems to establish the energy policy that their pre-planned action was intended to support.  [<- Reread that if needed].

Once the collective Build Back Better/Climate Change energy policy was established (2021), and after the resulting inflation created the justification for the central bank action, then -and only then- did the central bankers trigger the next phase of raising interest rates (2022) to reduce western economic activity and support the Build Back Better agenda.

All of this was by design.  None of this was by mistake.  The process, strategy and timing were all part of the Build Back Better agenda.  Purposefully created inflation, the result of the energy policy, was planned and used by the central banks to justify the rate increases.  It was a self-fulfilling prophecy built into the Build Back Better roadmap.

Now these ‘bankers’ are trying to collapse the economy to meet the reduction in energy production.  The bankers are supporting the political motives of the politicians.  This is all intentional.  Jeremy Siegel misses this core and fundamental aspect.   However, some of the lesser ideological western leaders (politicians) are starting to get ‘cold feet.’

The U.S, EU, France, Canada and Australia/New Zealand are ‘all-in.’   Joe Biden (U.S.), Justin Trudeau (CA), Jacinda Ardern (NZ), Emmanuel Macron (FR) and Ursula von der Leyen (EU) are unwavering and all in.  All of their central bank control officers are also all-in, including Christine Legarde (EU).  These unflinching ideologues are not going to budge, but some of the politicians within their economic systems are starting to get cold feet.

Japanese Prime Minister Fumio Kishida was the first to express reservations about the collective goal to sink their economy.  German Chancellor Olaf Scholz is also realizing he may not survive unless he cuts the cord tying him to the Build Back Better anchor of un-survivable renewable energy policy.  The recently installed British Prime Minister Liz Truss is also trying to untangle the knot tied by Boris Johnson, as her nation now suffers with double digit energy price increases.  These are the first fractures in the coalition since the Build Back Better agreement was made.

Jeremy Siegel is correct as to the outcome, but he -like almost all western financial pundits- are blind to the true motive.  Siegel is blaming it on incompetence, instead of going back to the original Build Back Better design as openly expressed by the central banks and politicians in 2020.   They were not hiding it.

The collective western leadership openly said this exact scenario was what they were going to do coming out of the useful COVID-19 pandemic.

The Western leaders openly stated they were going to use the time of lowered economic activity (created by the pandemic) as a gauge to measure and deploy a permanent change to the global system of energy development.  They were going to exit the pandemic with a new focus on climate change and new energy systems.

That pandemic “exit” was the gateway into the “economic transition” that all of the western leaders then began describing.

Throughout 2021 traditional oil, coal and natural gas exploitation was reduced by policy.  Inflation skyrocketed while the central bankers waited like kids playing double-dutch jump rope.  Wait,…. summer 2021…..  wait, fall 2021….. wait, winter 2021… wait, spring 2022…. and then, after the energy policy cemented,…   “NOW” run in and jump – Summer 2022, with the rate hikes.   The timing was by design.

Can you see it now?

Mulvaney, Goolsbee and Santelli Finally Discuss Supply Side Energy Driven Inflation and the Disconnect of The Political Federal Reserve


Posted Originally on the conservative tree house on September 23, 2022 | Sundance

Mulvaney, Goolsbee and Santelli Finally Discuss Supply Side Energy Driven Inflation and the Disconnect of The Political Federal Reserve

September 23, 2022 | Sundance | 51 Comments

Finally, a finance and economic discussion that touches on the critical component to inflation that no one dare say, or else they suffer political backlash.  Although Mick Mulvaney, Austin Goolsbee and to a lesser extent, Rick Santelli, had to maintain the acceptable ‘pretending’ approach, parsing words carefully, at least this is one of the first times where the supply side (energy driven) issue of global inflation was discussed.

As the group collectively admitted there is no other option other than a “hard landing” that collapses the economy from the current Fed approach; additionally, Rick Santelli, blasts the relationship between the political central banks and the global leaders who have pressured this dynamic.  WATCH:

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Still pretending, but lessened a little.  Hey, progress.

Joe Biden Says More Creepy Stuff About a Woman in Audience, She was 12 and I was 30


Posted originally on the conservative tree house on September 23, 2022 | Sundance 

Joe Biden has made creepy comments and behaved in weird inappropriate behavior around women for quite a while.  While the mainstream media has justified Biden’s inappropriate hair sniffing and touching by saying he’s generally a touchy person, it’s somewhat of a theme that every few weeks something creepy surfaces. {Direct Rumble Link}

Continuing with a familiar pattern, during remarks at a DNC event, Joe Biden singled out a woman in the audience and noted their relationship began when she was 12 and he was 30.  “We go back a long time,” creepy Joe stated.  WATCH:

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Interview WORLD FIRST: The Plot to Seize Russia, War Propaganda, and More


Armstrong Economics Blog/Armstrong in the Media Re-Posted Sep 22, 2022 by Martin Armstrong

Listen to my latest interview with Maria from Zeee Media.

Description from Maria:

World renowned economist Martin Armstrong joins us to break the story of the several-decade long plan to seize Russia, detailing how he has obtained declassified documents from the Clinton Administration, and how he was previously targeted for possessing this knowledge – which he is finally able to release.

Martin takes us through his encounter with an alleged terrorist from 9/11 while he served in prison, who was actually a Pakistani Christian that was framed by the US Government. We also discuss world events, war propaganda, and Martin’s insight into where we are heading.

When Did Illegal Immigration Become a Republican Issue?


Armstrong Economics Blog/Politics Re-Posted Sep 22, 2022 by Martin Armstrong

Securing the border was previously a bipartisan issue. National security, before the age of 9/11, focused on keeping the US borders secure and free from foreign invasion. There is a record number of illegal aliens crossing the US-Mexico border daily under the current Biden Administration, which has no plans to stop this invasion. In fact, they seem to be encouraging it and reframing it as a race or humanity issue.

The video above is from former President Bill Clinton’s 1995 State of the Union speech. Preventing illegal immigrants from crossing into America was on the DNC’s radar back then. It was not considered a racist issue until recently. Clinton states that although America is a nation of immigrants, it is also a nation of laws that must be protected. Under the Biden regime, this speech would be considered extreme right-wing fascism. If I posted only the transcription of this speech, many would think these words came from Trump. For an array of reasons, Bill Clinton would not have lasted long in woke America.

There is no plan to fix the open border. DeSantis and Abbott have attempted to send immigrants to blue states where they support open borders without experiencing the consequences. DeSantis caused a mass meltdown at Martha’s Vineyard when he sent a plane of illegal immigrants there, as the voters claim to be so tolerant. Within hours, the people of Martha’s Vineyard had the National Guard ushering out the undesirables. New York, Chicago, and DC are among the many blue cities that turned away illegal immigrants despite voting favorably for open borders.

The immigration crisis amounts to at least a $20 billion annual loss. Studies show that taxpayers spend $9,232 annually to support open borders. This will have an effect on absolutely everyone, Democrat or Republican, and should not be considered a Republican issue.

The Joe Biden Recession Cancels Christmas for Many Americans, Billions Worth of Holiday Orders Cancelled by Retailers


Posted originally on the conservative tree house on September 20, 2022 | sundance 

Trying to survive current price increases in housing costs, energy costs, electricity costs, food and fuel costs has forced consumers to reevaluate purchasing decisions.  As consumer demand for non-essential items has collapsed, and as Americans dig deeper into their savings just to sustain current unavoidable expenses, major retailers are now cancelling Christmas inventory orders.

On one hand the leaders of large multinationals must pretend everything is splendid; after all, the only acceptable position they can articulate is to support interest rates being raised because demand is just too darned high.  lololol…  pretending.  But on the other hand – those same retailers are furiously trying to calculate how to avoid being stuck with billions worth of unsold inventory.

RetailWire – Walmart, Target, Macy’s and Kohl’s are among retailers that have recently said they are canceling some orders to better balance inventory levels, a replay of a strategy used at the start of the pandemic.

Other steps retailers are using to clear inventories as spending has slowed on some non-discretionary categories are employing markdowns and packing away products for the following year. The elevated inventory levels also reflect intentional over-buying to mitigate shortages and the easing of supply chain constraints.

[…]  Christina Hennington, Target’s EVP and chief growth officer, said steps being taken by the discounter’s buying team include “rigorously reforecasting expectations for the balance of the year and beyond and determining where to reduce future receipts and orders. In some cases, it meant working with vendor partners to reduce our fall receipts in light of our updated expectations. It also meant quickly building compelling promotional plans to drive unit velocity for product we already owned, all with a focus on providing great value and generating excitement for our guests.”

John David Rainey, Walmart’s EVP and CFO, said it had cleared most summer inventory, was reducing exposure in electronics, home and sporting goods, and canceled “billions of dollars in orders” to realign inventories. He said, “Our actions in Q3 will allow us to make significant progress toward rationalizing absolute levels and mix, which will enable our stores to be well positioned ahead of the holiday season.” (read more)

Well positioned Mr Beale. You must say we are “well positioned.”

Where “well positioned” means put loaves of bread and sausages where the flat screen televisions used to be located.

The Great Pretending – Denial of Truth Allows Easier Trespass


Posted originally on the conservative tree house on September 20, 2022 | sundance 

I was asked recently, what I considered to be the biggest problem of the current moment, and how would I describe it to my future self.  My response was, we are living in an era of great pretending, and if you elevate yourself and pause its actually quite interesting to watch.

The pretending issue goes beyond politics, it’s everywhere.  Sure, there was always an era where reality was skewed in favor of one position or another by various groups, people and leaders, where denying the obvious was always odd.  However, this current state of our national and international disposition extends far beyond politics into almost everything.

A person would ordinarily expect to see cultural or social pretending as an outcome of political correctness.  Denying the underlying social construct behind the rules of the urban society has been the norm for several years.  However, the pretending has become so pervasive it has recently extended into finance and economics; places where reality -actual outcomes- used to inoculate facts and figures against pretense.

It is no longer uncommon, heck, it’s become almost standard in this new era, to see CEO’s, CFO’s and even entire boards of directors, maintaining a standard of pretense. It is quite weird to see it happening.

Yes, this era -for a host of reasons- has made delusion somewhat of a norm.

In the social sphere, cultural norms now claim men can have babies, people can choose their gender, labels and pronouns, and everyone else bears the responsibility to conform to the delusion.  While goofy, that part is somewhat a weird cultural phenomenon of this western era.   If we were not pretending people like AOC would have no career opportunities.

In the political sphere, the axiom of politics being downstream from pop culture is perhaps the reason the infection of pretense has overwhelmed congress and the professional bureaucracies of government.  The social pretending has metastasized from the federal level to the state level, and now we see efforts to counteract “wokeism” as a social priority for state and local leaders.   It’s weird to see so much time and effort being exhausted on combatting social pretense at every level.

But the more stunning development comes in the sphere of economics, where factual outcomes of transactions are matters of simple accounting.  A ledger of sales and profits would normally dictate whether a business was successful or failing, and in the bigger picture would show empirical evidence of the financial health of the community of customers who purchase goods and services.

Under all common norms of economics, if a business was operating at a higher cost than its income; or if the income was to shift or disappear quickly; people would seek to identify the underlying cause.  However, in this era of great business pretending, an economic mass formation psychosis has led to complete denial of the obvious.

Accepting the state of the Main Street economy as it is – not as we would pretend it to be, CTH shared several months ago that quarterly profits would be far below expectations, and we would see revised projections from just about every business entity who engages in selling durable goods.  People just are not buying stuff because the cost of living and buying energy, food, fuel and shelter, has become extraordinarily difficult.  It isn’t rocket science to connect economic dots.

As expected, at a macro-level, topline sales for businesses have dropped or collapsed.  Inventories of non-essential products are piling up. Consumers are stressed and/or hunkering down, and general economic activity has slowed dramatically.

None of what is happening is surprising.  However, what is surprising is that businesses -while faced with empirical results that describe the situation- would continue pretending.

Yahoo Finance – […] The auto giant Ford warned of a whopping $1 billion profit hit late Monday in the form of higher parts costs, with the company blaming vendor inflation. Ford now sees third-quarter adjusted operating profits in the range of $1.4 billion to $1.7 billion, well below Wall Street estimates for $3 billion.

Somewhat oddly in the face of the major warning, Ford reiterated its full-year operating profit outlook of $11.5 billion to $12.5 billion.

The mood on Wall Street is that Ford’s warning is generally a shocker given relatively upbeat comments on demand and the bottom line when second-quarter earnings hit in late July. Now, the Street is scrambling to mark down profit and valuation estimates on the company.

“Vehicles in transit will be seen as transitory, but surprise inflation is always worrying,” said Evercore ISI analyst Chris McNally in a note to clients, adding that he sees Ford’s stock trading down to about $13 off the quarterly letdown. Citi’s Itay Michaeli also appeared stunned by Ford’s warning. (read more)

The great pretending continues…..