Category Economic Collapse

Jun 11 2022

Biden Pushing To Lower Ocean Shipping Costs, Fight Inflation


By Newsy  Published on Rumble on June 10, 2022 

“There’s only nine shipping companies, nine, N-I-N-E, major ocean line shipping companies who ship from Asia to the United States,” Pres. Biden said.

Note from Centinel: As with everything Brandon claims the shipping costs have gone up, but not because of the shipping companies but because of the policies of the U.S government under the current occupant of the White house. That stated with the lock down’s and the forced reduction of gasoline and diesel fuel on day one of Brandon’s four year term of office. The resulting bottle necks at the ports cause the ships to wait for weeks to get in to be unloaded and additional weeks for the trucks to get loaded so the good could be delivered. Once that process started it only grew worse as government is not capable of fixing problems that they have created, especially when the policies were intentional.

Jun 11 2022

New Midterm Map Is APOCALYPTICLY Bad For Democrats, Poll Has GOP UP 9 As Economy Somehow Gets WORSE


Tim Pool  Published June 10, 2022 

New Midterm Map Is APOCALYPTICLY Bad For Democrats, Poll Has GOP UP 9 As Economy Somehow Gets WORSE. Gas Prices broke $5 per gallon and inflation hits 8.6% hitting another 40 year high.

Democrats can’t fend off the negative economic issues affecting them and culture war issues are right behind them. Current mapping and polling has Democrats facing an absolutely crushing midterm defeat in November

I said it before but I’ll say it again it won’t be a midterm red wave for republicans it will be a red great flood.

Become A Member And Protect Our Work at http://www.timcast.com

Jun 11 2022

New Interview: War, Gold, Oil, China, Dollar, Biden, and Globalists


Blog/Armstrong in the Media Re-Posted Jun 11, 2022 by Martin Armstrong

Jun 11 2022

Do I Whine?


Armstrong Economics Blog/Economics Re-Posted Jun 11, 2022 by Martin Armstrong

Jun 11 2022

Despite Massive Media Promotion and Every Outlet Pushing, J6 Prime Time Hearings Fall Flat with Less Than Half Regular Audience


Posted originally on the conservative tree house on June 10, 2022 | Sundance

Despite every single media outlet, broadcast and cable, promoting the J6 committee hearings which aired on every channel during prime-time viewership, the total Neilsen audience was around 20 million.  According to media tracker Joe Concha that’s about half an ordinary viewership for the regular broadcast networks.

Given the amount of attention the corporate media pushed in advance, the results are a major failure for the J6 effort.  As noted by Just The News, the ratings were “dismal.”

Tucker Carlson opened his show tonight talking about the media fiasco, and Tucker is also the only broadcast to cover the new Biden ethanol mandate.  WATCH:

Jun 11 2022

Last 30 Seconds with El-Erian


Posted originally on the conservative tree house on June 10, 2022 | Sundance 

Mohamed El-Erian, Allianz and Gramercy advisor, is one of the least dishonest people amid the Wall Street propaganda crowd.  Although due to peer pressure, he still tends to couch his economic analysis behind the CNBC screen of pretending not to know things.   [On a personal level, I bet this guy is 80% cash right now.]

This interview is generally not that impressive.  However, at the very end of this segment talking about inflation, what El-Erian says about the first 10 days of June is 100% and he’s the first person to say it. But he won’t repeat it.  WATCH (Prompted):

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He’s looking at the same data set we are.  Watch closely when the May Producer Price Index (PPI) is released (origination, intermediate and final demand to wholesalers), we will see how the inflation costs are continuing to accumulate in the supply chain for all goods and leaking over into the vulnerable service sector now.

Jun 11 2022

May Inflation Higher Than all Expectations at 8.6 Percent, Energy, Gasoline, Food Prices Continue Climbing


Posted originally on the conservative tree house on June 10, 2022 | Sundance

The Bureau of Labor and Statistics has released the May inflation report [DATA HERE] showing a 1.0% increase in the month of May, bringing the rate of inflation to 8.6 percent.  The highest rate of inflation in over 40 years.

This month of inflation data is particularly important because it cycles through the May 2021 calendar comparison from last year when the first wave of massive inflation first triggered.  The current year-over-year 8.6% rate of inflation now lands atop twelve months of massive increases in prices.

The data clearly shows how energy costs are the dominant factor hitting every aspect of consumer purchasing.  Gasoline increased 4.1% for the month, 48.7% year-over-year.  Fuel Oil increased 16.9% in May, 106.7% year over year.

The energy sector is crushing the ability of consumers to spend on anything else.   Real wages declined in May 0.6% as paychecks are being eaten up by massive inflation.  On an annual basis wages have declined by 4% year-over-year [BLS DATA].

Unfortunately, there is no forward optimism for any change in energy policy from the Joe Biden White House, that means energy costs will continue skyrocketing as the ideologues in control of the administration push their climate change Green New Deal policies.

Additionally, we still have the third wave of massive food price increases to look forward to later in the summer as the big increases in field costs start to reach the supermarket.  Those food store increases will average around 20 to 30% more than current.

Table-2 gives you a great breakdown of the price increases in specific sectors within each of the larger categories.  [SEE HERE] Eggs increased 5% in May, that’s a 60% annualized rate of inflation for eggs, which are already 32% more than last year.  Chicken is exceeding 30% inflation and growing.

A CNBC media report is below, as Wall Street laments the Fed response. However, the Fed cannot do anything to stop this inflation because what’s needed is a total reversal of U.S. energy policy.

[CNBC] – ““It’s hard to look at May’s inflation data and not be disappointed,” said Morning Consult’s chief economist, John Leer. “We’re just not yet seeing any signs that we’re in the clear.”

Some of the biggest increases came in airfares (up 12.6% on the month), used cars and trucks (1.8%), and dairy products (2.9%). The vehicle costs had been considered a bellwether of the inflation surge and had been falling for the past three months, so the increase is a potentially ominous sign, as used vehicle prices are now up 16.1% over the past year. New vehicle prices rose 1% in May.

Friday’s numbers dented hopes that inflation may have peaked and adds to fears that the U.S. economy is nearing a recession.

The inflation report comes with the Federal Reserve in the early stages of a rate-hiking campaign to slow growth and bring down prices. May’s report likely solidifies the likelihood of multiple 50 basis point interest rate increases ahead.

“Obviously, nothing is good in this report,” said Julian Brigden, president of MI2 Partners, a global macroeconomic research firm. “There is nothing in there that’s going to give the Fed any cheer. … I struggle to see how the Fed can back off.”

With 75 basis points of interest rate rises already under its belt, markets widely expect the Fed to continue tightening policy through the year and possibly into 2023. The central bank’s benchmark short-term borrowing rate is currently anchored around 0.75% -1% and is expected to rise to 2.75%-3% by the end of the year, according to CME Group estimates. (read more)

We are in an abusive relationship with government…

Jun 10 2022

Controlled Chaos at the Border


Armstrong Economics Blog/Corruption Re-Posted Jun 10, 2022 by Martin Armstrong

A border patrol agent from Uvalde, Texas, admitted that the situation at the US-Mexico border is worse than the mainstream media is reporting. The mainstream media may cause one to believe that a few desperate people in search of the American dream are crossing the border throughout the week. In reality, THOUSANDS of undocumented immigrants are entering the country every single day.

Biden’s recent media appearance to Uvalde after the tragic school massacre is the closest he has ever been to the border. His vice president, who is in charge of the border crisis, visited once solely to spite Donald Trump after he said he would visit the border to assess the situation personally.

The Del Rio area near Uvalde has experienced 236,159 illegal crossings during this fiscal year alone. The US Customs and Border Protection records state that illegal crossings continually increase every month of the year. April alone saw a high of 234,088 illegal aliens apprehended, a 12,000 person increase from March.

The Biden Administration has an open border policy at this time. During a NewsMax interview, a border patrol agent admitted that there are barely any agents patrolling the border with “skeleton staffing.” Despite lockdowns for COVID and fears of rampant disease, these illegal immigrants are not tested for illness and are often released by the masses in residential areas.

Worse, the border patrol agent interviewed said that the children in the Uvalde school massacre could have possibly believed it was another migrant running from police. He admitted that schools near the border often go into lockdown during police pursuits. “We just thought this was a normal everyday occurrence,” the agent said of the helpless children who have become desensitized to crime near the border and their school. We do not have the money or resources to protect our own children and border, but somehow send our taxpaying dollars to Ukraine by the billions.

Biden is a disgrace to America. He demanded that the border patrol agents disarm before meeting him, prompting many to turn around and go home. An off-duty border patrol agent, Jacob Albarado, heroically stormed the elementary school and eliminated the threat. He and his men should have been honored by the president instead of insulted to push this agenda to repeal 2A. This is “controlled chaos” as the Biden Administration is deliberately allowing hundreds of thousands of undocumented immigrants to enter the country.

Jun 10 2022

Sen. Kennedy on Gas Prices: “It’d be Cheaper to Buy Cocaine and Just Run Everywhere”


Armstrong Economics Blog/Energy Re-Posted Jun 10, 2022 by Martin Armstrong

Senator John Kennedy (R-LA) ripped into the entire Biden Administration for economic mismanagement. “Treasury Secretary Janet Yellen — who was also captain of ‘Team Transitory Inflation’ — announced she’s really sorry but inflation’s not gonna [sic] be transitory, it’s gonna [sic] be with us for a long while,” Kennedy recounted. “In other words, she does not have a solution to inflation but she really admires the problem — in other words, get used to it.” This comes shortly after Yellen admitted she was wrong on her stance on inflation after assuring the public for years that prices would cool.

President Biden actually admitted there was nothing he could do – or think of doing – to lower the cost of goods. “There’s a lot going on right now but the idea we’re going to be able to click a switch, bring down the cost of gasoline, is not likely in the near term. Nor is it with regard to food,” Biden said at the White House. “We can’t take immediate action that I’m aware of yet to figure out how we’re bringing down the prices of gasoline back to $3 a gallon. And we can’t do that immediately with regard to food prices either,” he said. This is why action needs to be taken before a problem becomes a crisis. Biden went on to yet again blame Putin for rising inflation, dismissing any blame, and shrugging his shoulders as if there is nothing he can do as the president of the world’s largest economy.

Garnering laughter, Kennedy jokingly said that gas is so expensive it would “be cheaper to buy cocaine and just run everywhere.” The price comparison may be something for Hunter to weigh in on.

Kennedy’s humorous outburst was truthful. “Meanwhile her [Yellen’s] boss, President Biden, continues to campaign for more economic chaos by trying to convince us in Congress to raise taxes by $3.5 trillion by expanding an already generous welfare state and by turning cops into social workers,” he said. He went on to mock Vice President Harris for having an “epiphany” and realizing that illegal immigration was a problem. “She wants American companies to invest $3 billion — not in America — but in Central American countries,” he said. “Many of which hate us,” Kennedy said, while also noting some of that money would be stolen.

The Biden Administration has no solution for inflation or the immigration crisis. They currently are throwing money everywhere and worsening every situation they pretend to be solving.

Jun 10 2022

Did the American Rescue Plan Cause Inflation?


Armstrong Economics Blog/Inflation Re- Posted Jun 10, 2022 by Martin Armstrong

The Biden Administration reiterated that its $1.9 trillion 2021 American Rescue Plan awarded “resilience” to the US economy. The remarks come after the plan, and the administration’s overall spending, came under harsh criticism from economists on both sides of the political spectrum. Senior advisor Gene Sperling stated that the plan would actually help to bring down prices in the long run. On the contrary, Steven Rattner, who served as counselor to the Treasury secretary under Obama, believes the plan was the “original sin” that contributed to the price hike.

Larry Summers agrees with Rattner, previously saying there was a chance the package would “set off inflationary pressures of a kind we have not seen in a generation, with consequences for the value of the dollar and financial stability.”

“The American Rescue Plan saved our country from economic catastrophe, helped get millions of Americans back to work, and helped make sure American families had money in their pockets from tax cuts and rising wages,” a White House official reiterated. Global supply chain issues and pandemic restrictions caused inflation to rise in nearly every nation. However, inflation rose much faster in the US last year, even when excluding volatile energy and food prices.

The Federal Reserve Bank of San Francisco analyzed the situation and determined: “Estimates suggest that fiscal support measures designed to counteract the severity of the pandemic’s economic effect may have contributed to this divergence by raising inflation about 3 percentage points by the end of 2021.” There is no doubt that the large spending package contributed to inflation, but it was not the sole cause. It did, however, give the people a taste of the beginnings of socialism and free government handouts, and that may be the most detrimintal result of the package.