Fed Chair Jerome Powell stated that the US housing market would “probably” go through a “correction” period. It is of no surprise as home prices were steadily rising from 2020 until recently after mortgage rates rose and many were simply priced out of the market. The supply chain shortages continue to present a problem for builders. Investors with cash were able to outbid other buyers, and houses lasted less than a week on the market before being sold for above asking. Clearly, this is unsustainable in the long term.
The great American dream of owning a home with a white picket fence sharply rose during World War II thanks to suburbs expanding and the GI bill that assisted service members in purchasing real estate. Homeownership during this time jumped to 65% from the Great Depression period. Surprisingly, home ownership actually increased during the Great Depression as well by 3.7% to 4%. Mind you, cultural dynamics were different back then. Women could not even open their own bank accounts. Living at home was common until marriage for both men and women, multi-family homes were more common, and people simply lived with less. The playing field is completely different today.
In 2021, the real estate industry accounted for 17% of GDP in the US. Investors, landlords, and house flippers did well during this housing boom, naturally. The average American suffered as rental prices are in line with monthly mortgage payments, but obtaining a house remains difficult for the middle class. Those with fixed low rates are not likely to sell. Shelter composes the majority of our household expenses, and countless people who did purchase at the height feel house rich but cash poor. The Fed is focusing on the demand side since it cannot control supply.
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.
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.
AlbertBourla is a veterinarian and not a medical doctor who is making a fortune selling his vaccines, not for animals – but people. He is the chairman and chief executive officer of Pfizer, after joining the company back in 1993. He use to be the chief operating officer.
He has COVID again. It seems that those who took the vaccine are developing immune deficiency to COVID like Biden who keeps getting it multiple times. I am not vaccinated, had it once, and that was it. When my daughter insisted I should go to Tampa Hospital to see the head of pulmonary, I said I was tested 5 times and it was always negative. He said the tests were not valid and they still think it was COVID. I went to a new doctor after my old one retired, when he asked if I was vaccinated and I said NO!, I was waiting for the propaganda. He said – Good!
Since this veterinarian tells the world we must be vaccinated, he seems to then listen to the CDC on how to take his own shit. When history is written about this period, I do not think it will be kind to this veterinarian handing out medical advice to people.
I would always make sure my kids were vaccinated. I would take the flu shot sometimes. Now, I will not take anything that comes from Pfizer. I would not trust this guy, especially with my dog. No wonder – he never had to take the Hippocratic Oath.
Posted originally on the conservative tree houe on September 24, 2022 | Sundance
There it is again. A lot of attention is being paid to the remarks by Hillary Clinton where she compared President Trump MAGA rallies to Adolf Hitler rallies and President Trump supporters to Nazis. However, that’s not the dynamic that should be emphasized.
The real issue at the heart of the leftist nonsense is the part where they keep contrasting “democracy” vs “autocracy.”
It’s an issue I keep referring to {Here and Here and Here} because their nonsense is so easy to deconstruct. Never has there been a more obvious example of Democrats acting as unilateral Autocrats as was exhibited during the COVID-19 crisis. Biden literally mandated a vaccine. Democrat governors and officials literally mandated rules and regulations by fiat with zero representative input.
For a full year of COVID-19, Donald Trump never dictated a single mandate and deferred everything to the states. Trump’s unwillingness to force action, including federal mask mandates, became an election year campaign issue. However, as soon as they took power, the Joe Biden authoritarian government, in combination with the state leaders who supported it, instantly became most autocratic, non-democratic, leaders in modern U.S. history. Yet, in order to retain their insane ideological projection, all of them – including Hillary Clinton in this soundbite – must deny and pretend not to know that reality. WATCH:
[Transcript] – “I remember as a young student, you know, trying to figure out how did people get, um, basically, bought in by Hitler? How did that happen? And I watched newsreels and I’d see this guy standing up there and ranting and raving, and people shouting and raising their arms, and I thought – what’s happened to these people, why did they believe that?
“I saw the rally in Ohio the other night, Trump is there ranting and raving for more than an hour, and you have these rows of young men with their arms raised. I thought, what is going on? So, there is a real pressure, and I think it is fair to say we are in a struggle between democracy and autocracy.”
“You know, I believe one of the reasons that Putin decided ‘what the heck, I’m going to go invade Ukraine, I’m going to go and take them over, you know in three or four days’, is because he assumed if Trump had been reelected, Trump would have pulled us out of NATO, and then Trump didn’t end up back in the White House.”
Man, I would love to have a few minutes with these knuckleheads, ask questions and challenge their bulls**t.
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.
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.
In Biden’s America, you can walk free after killing people who oppose your liberal political views. A 41-year-old man by the name of Shannon Joseph Brandt of North Dakota murdered an innocent 18-year-old boy over “a political argument.” The murderer recently posted $50,000 bail and was released. As a reminder, those who simply protested on January 6 remain in jail. There is a chance that Brandt will walk free after the trial, depending on the judge and jury.
The circumstances around this case are atrocious. Brandt was driving a 2003 Ford Explorer SUV while intoxicated. He exchanged words with the teenage boy before running him over with his truck and fleeing the scene. He did not even check on the boy and left him to die in an alleyway. He later called the police to explain that he had to kill the boy. Brandt claimed the teenager was part of a Republican extremist group and felt threatened because he placed a call for reinforcements. In reality, the teenage boy called his mom because he was afraid of the drunken man chasing him in his truck. That was the last phone call he ever made.
Biden himself has made countless speeches about how MAGA Republican conservatives are the ultimate threat to America and democracy in general. Trump was blamed for every politically motivated protest or arrest under his presidency. I have yet to read one article blaming Biden for instigating violence against his political opponents. Civil unrest is on the rise. The leader of the “free world” is encouraging violence, and the legal system is turning a blind eye to the sharp rise in crime across the country. Politically motivated crimes will become more commonplace as we enter the mid-term elections as Biden has clearly defined and demonized the enemy — you.
After many discussions from both sides of the Ukrainian conflict, I believe that my observation of a generational shift is important. The cycle is always driven by a cyclical nature that, in part, is driven by changes in attitudes between generations. The anti-war protests in Russia rose from the youth over the Ukrainian war. What is unfolding in Russia is because the youth protesting has never known war. They are too young even to have known about the Afghanistan invasion of 1989, which was 33 years ago. This stands in contrast to Americans who have known nothing but endless wars one after the other. I have family who has fought in Afghanistan and Iraq. Most of us have at least known someone who has fought there. War has become more of a normal occurrence to Americans, although many have disagreed with this policy of endless wars including Donald Trump.
The problem Russia has is that war is always created by the political class. It is this older generation that sees war always as an option and they are now in charge of most Western countries. Add to this, the Ukrainian war is REALLY being driven to defeat Russia for climate change. The World Economic Forum is pushing war behind the scenes with the excuse that Russia must be defeated to end their production of fossil fuels and give birth to Schwab’s New Age of dictatorship (Great Reset) to save the planet. This requires our surrender of freedom and reliance on fossil fuels and if had his way, we would all have chips implanted in our heads to prevent rebellions.
The words of wisdom behind cycles may be, in part, the Chinese proverb, 富不过三代? Roughly translated, it means “You can only keep wealth in the family for three generations.” What tends to emerge is the third generation seems to typically experience apathy. The second generation will often clash with the first not seeking to follow in the same footsteps and as such by the third generation, whatever company they formed will typically collapse unless it is sold off and becomes a public company. This is the fate of most businesses, but it is also the fate of political ideas.
Those above holding the reins of power over us mortal peons, always know better. Both Bill Clinton and Obama were tough on illegal immigrants. Obama deported more illegal aliens than even Trump. Something changed and Biden just reads the cue cards so the shift in direction to be a climate zealot was not his personal initiative, but he does as he is told. When he blurts out things that are outrageous, the White House immediately clarifies and tries desperately to whitewash what he says.
This was with Russia is on and it is more about climate change than anything else. The hope is to defeat Russia, subjugate its people, and bring it into the new world order of controlled poverty for about 50% of the Russian people will be on welfare if the mining for natural resources comes to an end. Putin understands the game and his words are not being heard by the youth who have not known war. To them, they do not understand the agenda.
This war was PROVOKED to ensure that Putin would take the bait and invade Ukraine. The day before his invasion on February 24th, 2022, Zelensky stood up and said he was breaking all previous agreements of neutrality and that Ukraine would arm itself with nuclear weapons against Russia. The US invades Iraq on the claim that they had “weapons of mass destruction” and they deliberately pushed Putin to invade so they could claim he was the aggressor.
In 2014 and the overthrow of Yanukovich, the West installed their “interim” government which was UNELECTED, and instantly sent the army to attack the Donbas. McCain promised the Ukrainian Neo-Nazis funding to wage war against Russia as soon as Trump was elected in December 1996. When Trump refused to fund McCain’s endless wars against Russia, then Trump became his hated enemy and his legendary attitude of holding a grudge was carried out right to his grave insisting Trump was not to speak or attend his funeral. He was the worse person I ever met on Capitol Hill.
McCain was pushing Obama to invade Syria to push through a gas pipeline to Europe to undermine Russia. It was McCain who wanted nukes in Checkosovakia and pointed at Russia against the people’s will. He spent his entire life in a grudge match against Russia and that began long before Putin ever came to power. He was the header of the pack of Neocons.
There are Neocons, and Hillary was one of them. They cannot sleep at night without dreaming about how to destroy Russia and China. This is the hateful generation of leaders who will take the world to war. Peace will only come when they finally expire from this world and then the third generation will start all over again.
Posted originally on the conservative tree house on September 22, 2022 | Sundance
National Grid and Eversource are the two major electricity providers for Massachusetts. Both companies have notified the Department of Public Utilities (DPU) that rates for electricity are about to skyrocket.
National Grid has announced a 64% increase in electricity rates effective November 1st. While Eversource is on a different schedule, they too have announced an increase in natural gas rates of 38% on November 1st and the January 1, 2023, electricity rate will be announced in the next few weeks. Eversource is anticipated to announce a similar rate increase to National Grid. WATCH:
Both major power companies rely on natural gas to create electricity. Thanks to Joe Biden’s energy policies, which includes the massive export of natural gas in LNG form, domestic prices for natural gas have skyrocketed and will continue increasing as production is further shut down by regulation.
We are helping the EU survive their sanction driven energy crisis by sending them natural gas (LNG format), while simultaneously forcing Americans to pay more in order to maintain the EU export. Everything about the process is FUBAR.
Massachusetts – […] National Grid said the monthly bill of a typical residential customer using 600 kilowatt-hours of electricity will increase from $179 last winter to about $293 this winter, an increase of about 64%. National Grid said the delivery portion of electric bills will basically remain flat.
“National Grid buys electricity on behalf of its customers from the wholesale power market through a regulatory approved process established 20 years ago. That process has served customers well over the years and provides flexibility for unforeseen events, like limited supplier response to solicitations. But things have fundamentally changed,” Helen Burt, the company’s chief customer officer, said in a statement. “Today, under a sustained, high market price environment, it is challenging to maintain affordable prices. Given that, we think it’s a good time to work with our regulators and other stakeholders to review the process and electricity supply dynamics in the region, with an eye toward reducing price volatility and maintaining a secure, reliable and resilient energy system for the future.”
The company also announced that its natural gas rates are expected to rise on Nov. 1. They said they have a pending proposal with the state Department of Public Utilities that would result in the monthly bill for an average Boston Gas residential heating customer using 115 therms per month of $278, an increase of $50, or 22%, compared to last winter’s rates.
Eversource, the state’s other major electric provider, said in an email that it is on a different schedule than National Grid for setting its electric rates so no increases are currently planned.
“We file electric base service rates twice per year with the DPU,” company spokesman Chris McKinnon said. “Our last change was on July 1, 2022 and our next change will be January 1, 2023, which we will be filing for in the coming months.”
Eversource did announce Wednesday that it has submitted a proposal to the Department of Public Utilities seeking to raise its natural gas rates. They said their average residential customer using 126 therms of gas a month would see an increase of about 38%, or $86 on their natural gas bill over last winter. Those rate increases would take effect Nov. 1. (read m0re)
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This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
Centinel2012 