Buttigieg Blames Private Sector for Formula Shortage

Armstrong Economics Blog/USA Current Events Re-Posted May 17, 2022 by Martin Armstrong

Transportation Secretary Pete Buttigieg, the man who suggested everyone immediately switch to electric vehicles to combat the “Putin gas hike,” has a new message for American parents struggling to feed their babies – deal with it.

Buttigieg appeared on CBS and could not contain his utter ignorance and lack of empathy. “This is a capitalist country. The government does not make baby formula, nor should it. Companies make formula. And one of those companies, a company which, by the way, seems to have 40% market share, messed up and is unable to confirm that a plant, a major plant, is safe and free of contamination,” he stated, absolving government of any guilt. The baby formula shortage began BEFORE Abbott had a formula recall.

Luckily reporter Margaret Brennan was able to explain the situation to the confused politician. Buttigieg said the shutdown has nothing to do with a shortage of ingredients. “No, it is a factor that has led to price. Inflation is one of the factors among many that has been blamed for months of problems with baby formula even before the recall in February,” Brennan reminded him. He maintained that the private sector has the ability to make more formula, and Brennan reminded him that right now America is importing baby formula from Europe as its strategy.

The Biden Administration happily sends $40 billion off to Ukraine without hesitation but refuses to fund the problems we are facing at home. This nationwide formula shortage is an extremely serious issue that US politicians simply disregard. A fraction of the money spent on Ukraine could have fixed the Michigan plant that closed after the recall, and it could have been used to create new manufacturing plants and import more formula in the meantime.

J6 Committee Issues Subpoenas to Five House Republican Members

Posted originally on the conservative tree house on May 12, 2022 | Sundance 

The entire premise of the J6 committee is a farce.  The overwhelming majority of Americans fully understand it is a political exercise between Democrats in congress and their hired Lawfare allies.  The goal is to label their political opposition as extremists, block and/or tarnish President Trump and manufacture a false premise to advance the Democrat 2022 election goals.

Despite this reality the effort continues in order to fuel their far-left base and media allies.

Today, the House committee triggered subpoenas against House republican members.  The subpoenas were sent to House Minority Leader Kevin McCarthy (U-DC), Rep. Jim Jordan (R-Ohio), Rep. Scott Perry (R-Pa.), Rep Andy Biggs (R-Ariz.) and Mo Brooks (R-Ala.). All five of the house members had previously rejected investigators’ requests for voluntarily testimony.

The subpoena authority is likely, hopefully, to be challenged in court.  The premise of a House committee issuing subpoena’s to the political opposition of the same House membership appears to violate the function of government on many levels.

WASHINGTON DC – […] The Republican leader indicated he might not comply with the subpoena.

“My view on the committee has not changed,” said McCarthy, who added he had not yet seen the subpoena. “They’re not conducting a legitimate investigation. It seems as though they just want to go after their political opponents.”

The select committee demanded testimony from the five lawmakers in the final week of May.

Members of the select panel have wrestled for months with the question of how to handle their GOP colleagues. The Capitol riot committee’s chair, Rep. Bennie Thompson (D-Miss.), had previously doubted the wisdom of that subpoenaing lawmakers, as that would likely trigger a lengthy court fight unlikely to be resolved before in the current Congress.

But the select panel’s thinking appears to have changed, as every avenue of the probe led investigators toward fellow House members.

Some of the subpoena targets — and several other GOP lawmakers — were regularly in contact with Trump and the White House in the weeks leading up to Jan. 6. They helped amplify false claims about the integrity of the 2020 election and were among the earliest to call on colleagues to challenge the results.

But members were mindful that demanding testimony from lawmakers would potentially set a precedent. While House and Senate ethics committees have subpoenaed members and staff before, there’s little precedent for an investigative committee — particularly one mainly guided by the majority party — turning its subpoena powers on fellow members of the House.  (read more)

The committee is desperate to find something, anything, that can justify all of the time and expense they have been consuming in the effort.  The clock is running out fast and the pressure is building internally. As a target of their investigation, and as a recipient of one of these subpoenas’, I can assure readers of the ridiculousness of the people conducting the investigation fishing expedition.  It is nonsense.  All of it.

Take your pick of ultra-MAGA graphics, either one is appropriate…



The Fed & The Collapse of Socialism

Armstrong Economics Blog/Basic Concepts Re-Posted May 6, 2022 by Martin Armstrong

QUESTION: Been following Martin since 2008 (Gold ride) – he is the only one who has been right AU and AG top 2011.
****Important question for Martin, please
How can the fed raise rates with governments owing so much debt please ???? what are the consequences of debt restructured? 100 year treasury real estate
Thanks you so much for sharing all your insights


ANSWER: The Federal Reserve is independent. Despite all the nonsense that these pretend analysts attribute everything to the actions of the Fed, if they really knew their history, they would realize that the Fed has often been at war with the White House. You cannot be an objective analyst when you predetermine a conclusion based upon a theory you choose to believe. This is the sad state of analysis these days. People start with the conclusion and then cherry-pick the facts to support what they think should be the outcome. This is what has plagued gold analysis, but the very same process has doomed climate change analysis and the destruction of the world economy.

Unfortunately, when it comes to the Quantity Theory of Money, these analysts take the position of politicians and exonerate themselves of all responsibility for their reckless fiscal spending. They endlessly try to bribe the people to vote for them. I have stated many times, pre-1971, when it was illegal to borrow against an E-Bond, for example, the theory was printing money increased the supply and was inflationary. Thus, borrowing did not increase the money supply and was not inflationary. But when you can post T-Bills as collateral and trade the markets, that theory is no longer valid, so debt is now simply money that pays interest the way it began in 1861. We seem to always return to the starting place, like the game of Monopoly where you must pass Go every trip around the board.

Socialism is the worst form of government; just look at the Democrats. They do not know how to run for office without promising free something or other. It is never about the fate of the world, the nation, or our families. They are promoting war because they assume that the people will not change the government in the middle of a war. They have no problem watching our people die.

The Fed has ZERO control over fiscal spending. Nevertheless, the Fed has been itself brainwashed, and because everyone blames them for inflation, they will be compelled to raise rates or suffer the calls for their overthrow. The increased cost in the deficit will never be blamed on them — only the inflation rate. This is why the central banks have ZERO control over the economy anymore. Soon, people will wake up and realize that this statement is true. When they do, we will get a 1987-style panic.

Here is a chart of the dollar index. The dollar had already begun its decline when they stood up at the Plaza Accord, announcing they wanted the dollar down by 40%. As the dollar began to fall rapidly, other member nations complained. In February 1987, they gathered together to announce that the dollar had fallen too far and enough was enough. When the dollar continued lower, the then G7 lost all credibility, and the markets suddenly realized they were not in control.

This is what we will see once again. This type of inflation was caused by the COVID lockdowns. China may really have shut down Shanghai to push inflation even higher in the West, seeking regime change in Washington, hoping the inflation will lead to a political blood-bath for the Democrats to get the world back to some normalcy. When inflation is set in motion because of a shortage, like crop failures, raising interest rates will not suddenly make it rain.

The Fed will act out its role because it has no other choice. Its rate hike this week is only playing catch-up with the market. Rates are rising because they are supposed to reflect the inflation rates plus a profit. That’s without the Fed trying to manage the economy. Just look at the rates and ignore the pundits. You will see that the Fed is chasing the market, it is not driving the market. Hence, the Fed is being compelled to raise rates not by its own desire to prevent inflation, but to keep pace with the markets themselves.

The idiots will blame the Fed as inflation rises and blame them for not acting. There is no saving grace for the Fed. The system is collapsing and this is in fact what gives Klaus Schwab power, for they know in Europe that they can no longer borrow money to fund socialism. The answer is to default on all debt and to hide that, they need to make it sound like they are doing this for you — who they care so much about.

Hence, this default will be disguised as relieving you of all your debt when it is the governments who are defaulting, and unable to raise interest rates in Europe. This is also the backdrop to the Repo Crisis and why US banks withdrew from making markets because they did not want to take European debt as collateral, forcing the Federal Reserve to step in.

Pelosi’s delegation went to Ukraine and said the US does not want peace and it will not accept the status quo. They want total victory against Russia and they have UNCONSTITUTIONALLY declared war on Russia and they are pretending they can act unilaterally and as long as the Ukrainian people are on the ground and not American troops, then it is not formally a war that only the people can declare under the constitution. This is all a cover for the Great Default because Keynesian Economics has completely failed. The central banks CAN NOT stop this inflation nor do they control the fiscal spending. Governments are now spending whatever they want because they know the Great Default is coming. This is all part of the Great Reset pushed as the solution by the World Economic Forum.

As we move head-first into 2032, we are looking at the total collapse of not just socialism because of the inability of European governments to continue to borrow as the Fed raises rates, and they cannot, but we are also staring into the eyes of the collapse of Republican forms of government on a global scale.

Plastic Bag Ban

Armstrong Economics Blog/Climate Re-Posted May 4, 2022 by Martin Armstrong

COMMENT: The grocers near me have banned plastic bags. Off timing. Grocery bills are more than I’ve ever seen ..ever. I wont buy as much if theres a few bags per trip. We are lucky to own our homes. Climate change or the food crisis? I see it as a new distraction since they talked of banning them for a long time .. so why now?

REPLY: It is not a far-fetched theory to wonder whether the push to eliminate plastics goes beyond the climate change agenda. Grocery stores have begun banning plastic bags at a time when food inflation is in the double-digits, and the supply chain stalemate has dampened availability. Think about it – the typical American will fill up their grocery cart with food. In other nations, they purchase the ingredients they need for a few days instead of going on major grocery hauls. Limiting American consumers to the bags in their possession could lead to fewer items purchased. This would lower the visibility of inflation and overall consumption.

Over the pandemic, Americans became more self-reliant and began cooking at home 49% more, according to the US Grocery Shopper Trends report. The powers that be, such as Bill Gates, have been pushing for a major change in grocery trends by requesting that first-world nations refrain from eating meat. Gates also cites climate change and not his massive investments in farmland and meat alternatives.

The Environment Agency of the UK released a report in 2011 that found reusable cotton and paper bags have a higher carbon footprint than single-use plastics. A cotton bag, for example, would need to be used 131 times to lower its impact on the environment. While no one is saying plastic bags are ideal for the environment, the rush to ban them is not entirely due to climate change concerns. I believe they are also aiming to change consumer habits at the grocery store.

2000 Mules – Another Banned Movie?

Armstrong Economics Blog/Politics Re-Posted May 4, 2022 by Martin Armstrong

Tucker Why We Are in Ukraine – Payback for Hillary

Armstrong Economics Blog/Ukraine Re-Posted May 3, 2022 by Martin Armstrong

Why is CASH King in Times of War?

Armstrong Economics Blog/USD $ Re-Posted May 3, 2022 by Martin Armstrong

COMMENT: Dear Martin,

So refreshing to see some theory regarding silver other than crazy goldbugs claiming JP Morgan artificially putting down t silver prices for XX years. Still what I find interesting is the weakness of the US stock market. Bonds getting dumped, Precious Metals getting dumped, EM’s getting dumped so everyone is just holding USD as cash? Take care.


ANSWER: In times of war, UNCERTAINTY is always dominant. It is interesting that the Romans’ Temple of Janus had two doors, and in times of war they were left open, symbolizing that the future was uncertain. Hence, the winds of war could pass freely through the temple, warning they could also lose. During times of peace, the doors were closed, symbolizing security. This is why CASH becomes king in times of war. Even the ancient coin hoards are typically stashed during times of war.

While some think that the Cuban Missile Crisis was when Kennedy took the nuclear deterrent to direct confrontation with Russia rather than attacking Cuba, I suggest that they look at the film the “Courier.” Kennedy did not reject the advice of his advisors to bomb Cuba, there was information flowing from a Russian dissenter who was concerned about nuclear war and the ideology of Khrushchev that communism would conquer the world. This is a totally different time. Putin is not a Communist, and he has no desire to conquer the world with an economic theory. Kennedy was following the advice of his advisers, who were NOT advocating to bomb Cuba. They knew they were fighting against an economic theory to conquer the world, which ironically is the objective of the World Economic Forum and Klaus Schwab.

Freezing assets as Biden has done to all Russians is unproductive. Nobody seems to have ever asked, “Have sanctions ever worked?” On July 24, 1941, Tokyo decided to strengthen its position in terms of its invasion of China by moving through Southeast Asia. On July 26, 1941, President Franklin Roosevelt seized all Japanese assets in the United States in retaliation for the Japanese occupation of French Indo-China. That was followed by Pearl Harbor less than five months later. It seems that our leaders are deliberately pushing the world into war. They need to justify the collapse in their fiscal mismanagement of the global economic system.

The dollar rose during World War I and during the Great Depression when most of Europe defaulted on its debt in 1931. The dollar spiked higher in 1940, but then the US government imposed controls during World War II. They even instructed the Fed to buy US debt at par which they finally rejected in 1951. Note that once the controls were lifted, the dollar soared again post-war.

The dollar on a CASH basis has been the safe haven during war, mainly when the rest of the world is collapsing. This war will NOT be a rerun of the last two. Moving to digital currencies will be the kiss of death and render the financial system completely vulnerable to cyber attacks. The last time, there was counterfeiting of an opponent’s currency to undermine its ability to fund its defense. Even the British were counterfeiting the Continental Currency during the American Revolution.

DHS Secretary Admits Scale of Illegal Alien Crisis, 1.5 million Unlawful Border Entrants Since January 21st

Posted originally on the conservative tree house on May 2, 2022 | Sundance 

May 2, 2022 | Sundance | 202 Comments

The scale of the illegal alien influx into the United States is starting to get more attention.  One of the reasons for the increased spotlight is the scale of the numbers DHS is forced to admit.

In this brief video segment {Direct Rumble Link} DHS Secretary Alejandro Mayorkas admits since January 21st: 836,000 released illegal aliens, plus 207,000 unaccompanied children (UAC’s), plus 200k to 400,000 that got away and avoided detention.  Add that up and we have 1.3 to 1.6 million illegal aliens through the southern border in the last three months.  WATCH:

That 1.3 to 1.6 million DHS admitted estimate is since January 21st.  The general scale is around 500,000/month.   That scale aligns with the DHS projections of 18,000 per day moving forward after Title 42 is dropped.  18,000/day equals 500,000/month.

There’s no reason to believe the numbers were less in the month of January, so we can add another 500k to the currently admitted number of 1.3 to 1.6 million.  Putting the current year illegal alien releases around 2 million through the end of April, with a projected 4 million more to come this year.

That’s a total of 6 million illegal aliens in just 2022.   The current illegal alien population, already inside the United States, is well north of 40 million, likely closer to 50 million.

The 2022 Election, Here’s Everything You Need to Know About DC Republicans in 30 Seconds

Posted originally on the conservative tree house on May 2, 2022 | sundance

I don’t need to add anything to this.  Page 14 of my unpublished wisdom book says: the space between words is the most important sound you will ever hear when listening to people positioning for influence or affluence.  Learn how to hear what they don’t say, and others will think you are wise beyond imagining.

Hit play and just watch for 30 seconds. Prompted:

NOTE:  James Comer from the state of Kentucky (think Mitch McConnell) was specifically installed by the GOPe as the ranking member of the House Oversight and Govt Affairs Committee (replacing Jim Jordan, June 2020), as a proactive move by the DeceptiCons, for exactly this insurance policy.

If Republicans get the House in the mid-terms, Comer becomes Chairman of the House Oversight Committee.   Do you remember the concept of “Chaff and Countermeasures”?   Fast-n-Furious, IRS targeting, etc.  James Comer is specifically installed to block and wreck any House oversight effort into FBI, DOJ and Biden corruption.  It’s likely Comer has a zipper problem that the Fourth Branch know about.

Senator Ron Johnson – Fox Host M.Bartiromo – Rep James Comer

Senator Tim Kaine Indicates Biden $33 Billion Ukraine Spend Likely to be Packaged with Another $22 Billion COVID Money

Posted originally on the conservative tree house on May 1, 2022 | sundance 

Joe Biden has asked congress for two supplemental spending packages, $33 billion for the Ukraine/NATO money laundering operation (supported by both wings of the DC UniParty), and an additional $22 billion to deal with COVID, ie the money DC will use to send to states for another round of mail-in ballots for the November mid-terms.

Hillary Clinton’s former Vice-Presidential running mate, Virginia Senator Tim Kaine, appeared on CBS Face the Nation to discuss.  As noted by Senator Kaine, the Senate will happily authorize the $33 billion for Ukraine; however, the COVID spending bill will more likely run into resistance from the Republicans in the Senate who want to extract some of their own Wall Street priorities.

The forward-looking solution, as it appears from the Kaine perspective, is for Mitch McConnell and Chuck Schumer to work out a deal where both spending packages are bundled. This approach gives cover to the DeceptiCon wing of the republicans to support the COVID mail-in ballot funding scheme, in order to keep their UniParty proxy war in Ukraine fully funded.  WATCH: