Category Economic Collapse

Sep 3 2022

August Labor Report Shows 315,000 Job Gains, Internal Data a Much Bigger Concern


Posted originally on the conservative tree house on September 2, 2022

The Bureau of Labor and Statistics (BLS) released the August Jobs Report [DATA HERE].

The topline is a net gain of 315,000 jobs with an increase in unemployment to 3.7%.  However, the June and July jobs reports were revised down by 107,000 lower than previously reported, and if you look carefully at the data, you can see a serious problem.

Keep in mind, in the background is a release yesterday showing productivity within the economy dropping in the second quarter by 4.1%. [DATA]  Combine the drop in productivity with higher wages of 5.7% and total wage costs per unit of business output are up 10.1%.  Now we turn back to today’s employment release, and look at these three points of data:

(1) Unemployment for adult men and unemployment for Latinos increased in August.  Adult men and specifically adult Latino men are losing their jobs. (2) The average number of hours worked in August dropped 0.1 hour to 34.5 hours. (3) Total employment amid those aged 16 to 19-years of age increased by 363, 000 in August:

The graphic is modified Table A-1 to focus on ‘age’

 •Total economic productivity drops [biggest quarterly drop since 1948].  •Men and Latinos are losing jobs.  •Average hours worked drops.  •Teenage employment increases. What do these four facts tell you?

A total of 363,000 more teenagers started working in August, yet the total net gain in employment overall was 315,000 jobs.   That should be the headline of the August 2022 jobs report.

(CNBC) […] The unemployment rate rose to 3.7%, two-tenths of a percentage point higher than expectations, largely due to a gain in the labor force participation rate to 62.4%, tied for the highest level of the year. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons climbed to 7% from 6.7%.

Wages continued to rise, though slightly less than expectations. Average hourly earnings increased 0.3% for the month and 5.2% from a year ago, both 0.1 percentage point below estimates. (more)

Sep 2 2022

US Oil Reserves Nearly Depleted


Armstrong Economics Blog/Energy Re-Posted Sep 2, 2022 by Martin Armstrong

The US Strategic Petroleum Reserve (SPR) has been at its lowest level since, ironically, 1984. The reservoirs are composed of four underground sites constructed from salt domes on the Gulf Coasts of Louisiana and Texas. The White House began extracting oil from the emergency reserves to combat rising gas prices. Politicians simply hope that the problem can be patched up for as long as they can remain in power.

In August, the US extracted 18 million barrels of crude. The stockpile now sits at only 450 million, reaching a nearly 40-year low. Additionally, the White House under Biden has been selling off the remaining reserves to foreign refiners. China received nearly a million barrels of oil to a subsidiary of Sinopec, a company that previously received BILLIONS in investments from an equity firm operated by none other than Hunter Biden. In fact, Biden has sold off nearly a quarter of oil reserves this year alone. Is he deliberately trying to create a crisis to spark the Great Reset?

Russia is not to blame for rising gas prices, as a gallon cost a mere $2.28 in December 2020. A year later, after Biden implemented disastrous green policies, the price rose to $3.40. Biden panicked once gas hit $5 in June and began to pull from the reserves to make it seem as if he had a grip on the problem. The government has no solution for the current energy crisis. The best we can hope for is the Republicans coming to power and demanding that domestic production continue immediately.

Sep 2 2022

Germans Stockpiling Firewood


Armstrong economics Blog/Energy Re-Posted Sep 2, 2022 by Martin Armstrong

We are quickly reverting back to the Dark Ages. Cooking and keeping warm with fossil fuels may become a luxury as the energy crisis spreads across the West. Reports are growing from Germany that people are stockpiling firewood before the winter season. Google search results for “brennholz” (firewood) peaked this August in Germany as their government announced they would continue supporting Ukraine indefinitely.

Half of German homes are heated by natural gas, while a quarter uses oil. Less than 6% reported using firewood, but that is set to change as even firewood is now in a shortage. Germany’s Federal Firewood Association announced earlier in the summer that wood was becoming scarce. People are now importing firewood from Poland, but people there are also buying up firewood as no one can afford these rising prices. Governments are offering no solutions, and people have reason to fear the future.

Versorgungssicherheit is a word describing the fear of a shortage. Due to this fear, many companies are rationing the number of firewood bundles people are allowed to buy. The Federal Network Agency expects gas prices to TRIPLE by early 2023. The energy crisis spreading across the West will result in growing civil unrest and could trigger a major geopolitical event across Europe as people will be faced with hardships this winter not seen in a lifetime.

Sep 1 2022

Biden: “Let me say this to my MAGA Republican friends in Congress: Don’t tell me you support law enforcement if you won’t condemn what happened on the 6th.”


The Post Millennial Clips  Published originally on Rumble on August 30, 2022

Biden: “Let me say this to my MAGA Republican friends in Congress: Don’t tell me you support law enforcement if you won’t condemn what happened on the 6th.”

Sep 1 2022

California Announces Ban on Gas Powered Vehicles Then Announces Energy Emergency Requesting Residents Not to Charge Electric Vehicles


Posted originally on the conservative tree house on August 31, 2022 | Sundance

A week ago, California state regulators voted to ban the sale of gasoline powered cars by 2035. The goal is to make every vehicle in California an electric vehicle.

However, just a week later, the California Independent System Operator (ISO) issues a flex alert for the Labor Day holiday weekend asking people not to charge electric vehicles because the power grid cannot handle the demand.  [Alert Notice]

The Flex Alert for Thursday, Sept. 1 is scheduled for 4 p.m. to 9 p.m., when the grid is most stressed from higher demand and less solar energy. During that time, consumers are urged to conserve power by setting thermostats to 78 degrees or higher, if health permits, avoiding use of major appliances and turning off unnecessary lights. They should also avoid charging electric vehicles while the Flex Alert is in effect.

To minimize discomfort and help with grid stability, consumers are also encouraged to pre-cool their homes and use major appliances and charge electric vehicles and electronic devices before 4 p.m., when conservation begins to become most critical. (LINK)

Aug 31 2022

Trump Lawyer: We’ve Learned Today that Trump’s Files Were Taken By the FBI


Sean Hannity Published originally on Rumble on August 30, 2022 

Trump Lawyer: We’ve Learned Today that Trump’s Files Protected by Attorney-Client Privilege Were Taken By the FBI

Aug 30 2022

Does the US Want War with China?


Armstrong Economics Blog/Politics Re-Posted Aug 30, 2022 by Martin Armstrong

China does not want a war with the US. The US, however, is continually provoking China by using Taiwan as its scapegoat. The US Navy announced that two warships will be traveling through the Taiwan Strait. The reasoning? The military aims to demonstrate freedom of movement through international waters. In other words, they deliberately want to anger China.

Nancy Pelosi began the subtle attack on China when she visited Taiwan and disregarded warnings from every intelligence agency. China repeatedly warned America not to interfere in its One China policy. Yet, Pelosi said she wants Taiwan to liberate Taiwan.

“We take this trip at a time when the world faces a choice between autocracy and democracy,” Pelosi said. “We cannot stand by as the CCP proceeds to threaten Taiwan — and democracy itself,” Pelosi said in a statement. “Our congressional delegation’s visit should be seen as an unequivocal statement that America stands with Taiwan, our democratic partner, as it defends itself and its freedom.”

China flexed its military power as soon as Pelosi left by performing almost a mock invasion through the skies and sea. As of this week, Taiwan reported 23 Chinese aircrafts and eight ships around Taiwan. Russia was provoked by NATO and backed into a corner before invading Ukraine. Beijing is increasingly feeling the pressure as the US is not actively abiding by its One China policy. Between the current recession, proxy war in Ukraine, and surmounting debt, the US is simply stretched too thin to enter a war with China.

Our models warn that geopolitical tensions will rise going into 2023. China is selling off US debt, which is another sign of coming geopolitical problems.

Aug 30 2022

Greenpeace to Ditch Greta


Armstrong Economics Blog/Climate Re-Posted Aug 30, 2022 by Martin Armstrong

Reports are circulating that Greenpeace may soon ditch their poster child for climate change, Greta Thunberg. The Swedish activist was pushed to fame as a child and became notorious for passionate speeches that she was likely forced to read and believe. Klaus Schwab even featured the young girl in his film, “The Forum,” to promote Agenda 2030.

Greta is now 19 years old and no longer the perfect child-like puppet with braids and innocence. I warned that her parents manipulated this girl for their own benefit. She suffers from autism and depression, and her parents publicly stated that parading her around the globe was “medicine” for her ailments.

As an adult, she is diverting from the script. Last year, she said that democracy should be prioritized over climate change in a move that angered her handlers. She accidentally shared an image of “suggested posts” that her handlers asked her to share across social media platforms. Greta even came under fire by the Indian government after being spotted with pop star Rihanna who began promoting the Indian farmer’s protest.

There are now talks that the climate change crowd plans to discard the teen. Other activists have begun publicly criticizing her, which would have never happened when she was surrounded by the likes of Al Gore and Jennifer Morgan. “Since the beginning, we have said that we want to be hierarchy-free – and yet many saw Greta as the leader,” Swiss Jann Kessler stated. Others have whined that she was not the first to protest the weather cycle.

To the adults who abused this innocent girl – how dare you!

Aug 30 2022

California Begs Residents Not to Move to Texas


Armstrong Economics Blog/Politics Re-Posted Aug 30, 2022 by Martin Armstrong

California’s failed policies have led residents to flock to states like Florida, Arizona, and Texas. Now, California is begging them to stay by using disturbing rhetoric. Billboards are appearing across Los Angeles and San Francisco warning against moving to Texas. The reason? The horrific Uvalde School massacre that occurred at Robb Elementary in May.

“The Texas miracle died in Uvalde,” the billboards states. It is in bad taste to use a school shooting to promote an agenda. The gunman was apprehended by a Texas resident with a gun. The police failed those children. None of this has anything to do with California’s policies; crime is not as prominent in Texas.

Between 2020 and 2021, over 25,000 fled California to Texas, according to the US Census data. Overall, over 360,000 people left California in 2021. Most cite that California has become completely unaffordable, with the median home price at about $797,470. Companies have fled California since the beginning of the pandemic to tax-friendly states. They lost huge job creators and revenue makers such as Facebook, Twitter, Dropbox, SpaceX, and Tesla, to name a few. Another less discussed reason is the intense woke rhetoric spewed by Newsom and others. Theft has basically become legal. Despite the beautiful scenery and weather, people simply do not want to live in the Golden State for a plethora of reasons.

Aug 30 2022

Tucker Carlson Highlights the False Premise of the Demand Inflation Argument as Energy Becomes Scarce and Economic Collapse Looms


Posted originally on the conservative tree house on August 29, 2022 | Sundance 

During his opening monologue tonight, Tucker Carlson becomes the first mainstream pundit to point out the lies in the central bank argument.

The federal reserve and EU central banks claim they are raising interest rates to stop inflation by slowing demand.  A demand side approach.  However, it isn’t demand driving inflation; it’s the cost of energy driving inflation. That’s a supply side issue.

The central banks cannot admit what they are doing, or people would catch on.  They are intentionally reducing economic activity in order to support having scarce energy production. WATCH:

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