Tucker Carlson used his opening monologue tonight to discuss the era of The Great Pretending, the disconnect between the ideology driven goals of the politicians and the people they are supposed to represent.
Using Giorgia Meloni as an example of a person who refused to play the pretending game, Carlson notes how Meloni won an easy victory by speaking plain truth to the Italian electorate. WATCH:
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The National Energy Assistance Directors Association (NEADA) is estimating it will cost Wisconsin residents more than $1,200 to heat an average home this winter, an increase of more than 17% compared to last winter. [Data Link Here]
Roughly 50% of Wisconsin residents use natural gas for home heating. Natural Gas heating costs are increasing 34% this year (vs last winter, 2021). That’s also a 66.1% increase over the winter of 2020.
Many people believe the people who are in charge of the economic policies destroying the middle-class have no idea how the Main Street economy actually works. I disagree, I believe they know exactly what they are doing and why they are doing it.
From one perspective, inflation is a statistic that comes from a bureaucratic system quantifying prices. They have no concept of how policy-driven price increases hurt consumers or working-class families. Everything in their sphere is academic and esoteric.
However, that said, those who have designed policy know there are benefits to inflation, like lowering economic activity that supports their lowered energy production policies. Inflation also helps them pay their way out of the spending they create that drives the inflation. Make money worth less and debt is lessened, or so the theory is told.
Joe Biden made remarks today that “inflation” as he looks at it, is defined as the amount of money in a paycheck. WATCH:
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New Zealand, Australia and Canada retained the most restrictive policies on vaccination the longest. However, today Canada announced they are finally loosening the totalitarian fiats and permitting travelers to enter the country without proof of vaccination.
New measures begin October 1st.
(The Hill) — Canada is lifting its testing, quarantine and vaccination requirements at the border, a step in rolling back pandemic restrictions designed to stave off the spread of COVID-19, the government announced Monday.
Starting Oct. 1, international travelers will be able to enter Canada without providing proof of vaccination, taking a pre-arrival test or undergoing quarantine, according to a government release. Compulsory masking on domestic planes and trains will also end, as will a longstanding requirement to share health information with the Canadian government via its ArriveCAN application prior to entry.
The move comes as many countries attempt to ease out of the strict restrictions put in place during the COVID-19 pandemic even as the virus continues to circulate. (read more)
Kari Lake is running an excellent campaign for governor of Arizona in advance of the November election. In this interview with Maria Bartiromo, Ms Lake discusses her perspective on the border control collapse as well as the attacks against her from lame-duck congresswoman Liz Cheney.
After losing her Wyoming primary challenge, Liz Cheney has now promised to campaign on behalf of Democrats against Kari Lake in Arizona. WATCH:
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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.
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?
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.
See above or click here to watch my latest interview with Geopolitics & Empire.
A message from Hrvoje Moric:
“Martin Armstrong discusses his new book based on declassified documents where in the 1990s the West, NATO, and Russian oligarchy plotted to seize Moscow, loot Russia, and takeover its natural resources. Yeltsin turned to Putin who was not a communist and is not an oligarch. The Moscow apartment bombings or propaganda surrounding them being a false flag would likely have come from Boris Berezovsky. The Great Reset is basically a debt default and the EU is a disaster that will fall apart. At this point most of the attack on Russia is related to “climate change” and to shut down fossil fuels.”
The Bank of England (BoE) all but admitted the UK is officially in a recession. Bank Governor Andrew Bailey stated weeks ago that there was nothing the central bank could do to prevent a recession at this stage. The Monetary Policy Committee (MPC) voted to raise rates by half a percentage point to 2.25%, marking the highest level since 2008. The markets were expecting a 75 bps hike, but the central bank is moving slowly and aiming to avoid panic.
The central bank foresees a 0.1% drop in GDP over the next three months after experiencing a 0.1% decline last quarter. The CPI report for August came in at 9.9%, which is only a slight drop from July’s 10.1% reading. Winter is coming, and that is when the full impact of the energy crisis will be felt. The BoE believes inflation will rise to 11% in October when energy caps are altered. Like the Federal Reserve, the BOE is a long way from its 2% inflation target and relied on QE for far too long.
The dollar’s strength continues to cause a devaluation in sterling as the USD is seen as the last safe haven.
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