Saving money has become impossible for many amid 40-year high inflation. According to data from the US Bureau of Economic Analysis, the personal savings rate reached 4.4% in April after steadily declining from the 6% level seen in January. This marks the lowest rate on record since September 2008 amid the Great Recession.
People hoard and save when they are pessimistic about the future. That innate desire to save is not possible with inflation at 8.3%. For example, in April 2020, the lockdowns began to take a stronghold on the US. People were losing their jobs, basic necessities such as toilet paper were in short supply, and no one knew when life would return to normal (spoiler: it never will). Fears were high, but inflation was only 4.2%. The personal savings rate at that time reached a historical high of 33.8%, partially due to government handouts, social programs, and payment moratoriums.
People can hardly save with the current cost of living. If the economy continues to slide into a recession, survival will be the main concern rather than saving.
QUESTION: Marty; I have been a follower for years. Your model has correctly forecasted every major trend from civil unrest to disease. But your forecast that this wave would be commodity inflation based on shortages years in advance, proves that you deserve the Noble Prize. Absolutely no analyst did that although many now pretend they are forecasting this trend. I have to ask. Why is the government refusing to use your model?
HK
ANSWER: The entire economic field sells itself as the solution. They reject the idea of any defined business cycle BECAUSE that means there can be no manipulation. Just look at Schwab and his World Economic Forum, which will be one day cast as the evil emperor in some future version of “Planet of the Manipulators.” If they listened to this model and followed it, they would reject Schwab’s obsession with Marxism. As long as the economy is random, then they can manipulate it. Following my model strips them of that power.
There are still people in the former Iron Curtain countries that miss communism. Why? It is the same in prison. You become institutionalized and have no responsibilities, including taxes. Someone hands you a broom, you sweep the street, and it takes not a single mental thought of how to actually do the job. You can’t even be fired.
Posted originally on the conservative tree house on June 2, 2022 | sundance
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned of a “hurricane” as the economy struggles against fiscally induced growth, quantitative tightening and Russia’s invasion of Ukraine. Mr Dimon was delivering remarks at a conference sponsored by Alliance Bernstein Holdings Wednesday.
Higher oil prices, higher fuel prices, higher energy prices and much higher food prices are all looming over the horizon as the Biden administration switches the baseline for the U.S economy from oil and gas to the Green New Deal energy program. Things are going to get worse, the question is, how much worse? WATCH:
The White House is pretending the U.S. government does not have full control over what is happening in the economy. The media are pretending not to know that the White House is avoiding admitting the agenda and economic pain is intentional and unavoidable. The republican politicians are pretending the Biden economic transition program is because the White House is incompetent. All of these -and so many more- are just pretenses.
What is being done by the government, in this decision to switch from an oil and gas economy into a wind and solar economy, is being done on purpose. Yes, everyone at every level of government, both political parties and every agency within it, and the entirety of the corporate media are pretending not to know this is the Green New Deal taking place.
Posted originally on the conservative tree house on June 2, 2022 | sundance
You do not need anyone to affirm that Main Street is in trouble, you can see it all around you. Inflation is crushing blue-collar and white-collar workers as prices continue to rise on essential goods. Consumer spending is now prioritized around the higher cost of housing, energy, gasoline and food. Family earnings are spent before the paychecks arrive for most Main St workers, and now we are starting to see the alarming result economic contraction, beginning with small businesses.
That’s the message within the ADP private sector payroll report released today [DATA HERE], which shows a contraction in small business employment. Economists were looking for private payroll increases in the 300,00 range; but the result was far lower at 128,000. Small businesses lost 91,000 jobs in May. Main Street is in trouble.
WASHINGTON, June 2 (Reuters) – U.S. private payrolls increased far less than expected in May, which would suggest demand for labor was starting to slow amid higher interest rates and tightening financial conditions, though job openings remain extremely high.
Private payrolls rose by 128,000 jobs last month, the ADP National Employment Report showed on Thursday. Data for April was revised down to show 202,000 jobs added instead of the initially reported 247,000. Economists polled by Reuters had forecast private payrolls increasing by 300,000 jobs. (read more)
Posted originally on the conservative tree house on June 1, 2022 | Sundance
Does anyone remember during the Jimmy Carter era when odd/even days on license plates to get gas? Well, if the International Energy Agency is accurate, and the issue extends into the U.S. as predicted by many industry insiders, we could very well see gasoline rationing once again.
Beyond all the obfuscation, denial and continual pretending, the reason for the gasoline shortages is related to this forcible shift in energy policy that is underway in Europe and the United States. It’s not a shortage of oil, it’s the new era where the Green New Deal is the policy priority. The people within the Biden administration do not care about the consequences, Biden is pushed in front of the camera as a useful idiot to take the blame.
Business Insider – The US could see fuel shortages this summer once people start taking their vacations — and Europe could take a particular hit from the lack of supply, the head of the International Energy Agency has warned.
“When the main holiday season starts in Europe and the US, fuel demand will rise,” Fatih Birol told Der Spiegel. “Then we could see shortages — for example, in diesel, petrol or kerosene, particularly in Europe.”
Birol also told the German newspaper that the energy crisis now underway will be more severe and longer-lasting than the oil price shocks of the 1970s, given it’s applying pressure on three fronts.
“Back then it was just about oil,” he said in the interview published Tuesday. “Now we have an oil crisis, a gas crisis and an electricity crisis simultaneously.”
Oil prices spiked in 1973 and 1979 as the Yom Kippur War and the Iranian Revolution interrupted Middle Eastern crude exports. Geopolitical events have hit the market again in 2022, as western nations impose sanctions on Russia over its invasion of Ukraine. (read more)
Joe Biden has no clue what the people running the administration agencies are doing. Even if he were to ask them, they would simply type something into his teleprompter that he would believe and repeat. Biden doesn’t care, the entire family is in it for the grift.
Posted originally on the conservative tree house on May 31, 2022 | Sundance
Joe Biden sought counsel today from New Zealand Prime Minister Jacinda Ardern about how best to remove firearms from Americans and force the U.S. economy to a dependency on renewable energy. Prime Minister Ardern took the top spot in the global progressive movement after the retirement of German Chancellor Angela Merkel.
PM Ardern, a remarkable smiley-faced fascist, now represents the face of modern global leftism and boned-up her progressive bona fides with the totalitarian New Zealand COVID policy. The corporate fascists within the World Economic Forum love the government compliance model represented by Ardern to the collective global society they are creating.
New Zealand has a population of 5 million people, and a GDP of $205 billion (about the same as Nevada). By comparison the U.S. has a population exceeding 350 million and a GDP exceeding $21 trillion. That said, during their White House meeting today, Joe Biden emphasized that he welcomes the assistance of PM Ardern in helping to guide U.S. efforts for firearm regulation and a comprehensive climate change driven renewable energy economy.
[Transcript] – […] You understand that your leadership has taken on a critical role in this global stage — and it really has — galvanizing action on climate change; the global effort to curb violence, extremism, and online, like happened in Christchurch.
And — you know, we want to be — I want to work with you on that effort. And I want to talk to you about what those conversations were like, if you’re willing.
The United States is, you know — it’s just been — there’s a — there’s an expression by an Irish poet that says, “Too long a suffering makes a stone of the heart.” Well, there’s an awful lot of suffering. We’ve been — I — I’ve been to more mass shooting aftermaths than, I think, any President in American history, unfortunately. And it’s — it’s just — so much of it is — much of it is preventable, and the devastation is — is amazing.
Yesterday — or not — the day before, I was up — I was down in Texas. And people sat in a room — about 250 of them in a large room — with me for almost four hours. Not — nobody left. They waited until aft- — until I spoke to every single person in that room. Every single person, they waited to the very end. And the — they — the pain is palpable.
And you’ve been one of our closest partners with a long history and friendship. Eighty years ago, Marines landed in New Zealand before embarking on — into the Pacific Theater in World War Two. And I think I told you, when I met my — my — two of my mother’s brothers who were in the Pacific — they used to be able to deploy at the same time in those days, in World War Two. And one was shot down in New Guinea. And they never found the body. But it’s — you know, it’s — the history goes back a long way — a long way.
And I want to, by the way, recognize New Zealand’s significant support for Ukraine, as a lot of Indo-Pacific countries are doing now. And — because this is more than just a regional war going on.
So, I look forward to our conversations today. We have a lot to talk about. And I’m really, really delighted to have you here — really.
PRIME MINISTER ARDERN: Thank you. And can I say, Mr. President, thank you, so much — so much —
PRESIDENT BIDEN: You — you can do anything you want.
PRIME MINISTER ARDERN: Great. (Laughs.) Thank you. And we really welcome this opportunity.
As you’ve said, we’ve spoken on several occasions. And what stood out to me on both those occasions were we traversed such similar issues, and not — not least, of course, our shared history.
You speak of your uncle’s service in the Pacific; my grandfather served in the Pacific. And I think that speaks to the personal connection but also the depth of our friendship and relationship as two countries.
We are in an incredibly difficult international environment. But also, domestically, it is extraordinarily challenging as well. And can I bring the sincere condolences of the people of Aotearoa New Zealand for what you have experienced in Texas and in New York? And it’s been devastating to see the impact on those communities.
Our experience, of course, in this regard, is our own. But if there’s anything that we can share that would be of any value, we are here to share it.
PRESIDENT BIDEN: Well, the work you’re doing with tech companies is really important, and I want —
PRIME MINISTER ARDERN: Absolutely.
PRESIDENT BIDEN: — to work with you there as well.
PRIME MINISTER ARDERN: And I absolutely look forward to updating you on some of the conversations we’ve had this week because I hold hope that we can make progress.
I also wanted just to acknowledge your leadership in bringing to the table the Indo-Pacific Economic Framework. And whilst, of course, we are significant advocates for the CPTPP, the IPEF presents a significant opportunity to build the economic resilience of our region. So, I look forward to having a bit of a discussion about that opportunity as well.
I also want to acknowledge your significant leadership on Ukraine and how important that has been not only to us as we’ve looked to play a role as well, but globally as we look to make sure that we strengthen the international response to what is a threat to our values and, of course, the territorial sovereignty of Ukraine.
I do want to finish on a note of optimism. Climate change also is one of the greatest threats that we face. And I believe that, in you, not only have we seen the leadership but the opportunity that exists between our nations to work together on this incredibly difficult issue that will only be resolved if we work together.
So, thank you. With — as you’ve seen, we’ve got a lot to discuss, so —
PRESIDENT BIDEN: We’ve got a lot to do. And I want to emphasize the last point you made: “working together.”
PRIME MINISTER ARDERN: Absolutely.
PRESIDENT BIDEN: We are not coming to dictate or lay down the law. We —
PRIME MINISTER ARDERN: Yeah.
PRESIDENT BIDEN: — we have more work to do in those Pacific Islands as well. I mean, we’ve — and so, we talked at length about — in the past about my trip to Japan and Korea and then dealing with the Quad. And so — but I think there’s a lot of opportunity —
PRIME MINISTER ARDERN: Yeah, I agree.
PRESIDENT BIDEN: — to make the world safer and deal with the environment.
PRIME MINISTER ARDERN: I agree. I agree. So, thank you.
PRESIDENT BIDEN: Thank you.
Thank you all very much.
Q Mr. President, will you meet with Senator McConnell on guns?
PRESIDENT BIDEN: I will meet with the Congress on guns. I promise you.
Posted originally on the conservative tree house on May 31, 2022 | Sundance
Anytime you hear the code-word “transition”, what the explainers mean is the change from traditional oil, gas and fossil fuels to renewable energy and the Green New Deal. The phrase “economic transition” is used to explain the economic collapse of Main Street that will happen during the switch. Remember THE GOAL? It has never changed.
National Economic Council Director Brian Deese, aka the U.S. version of Baghdad Bob, appears before several audiences today in an effort to use as many words as possible to explain the “transition,” without actually explaining the “transition.” Why? Because they don’t want the average person to know what the “transition” is all about…. Because if the average person knew what this “transition” is all about, then they might realize all of these massive increases in price are being done intentionally. WATCH:
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Again, you guys are going to get sick of me saying this…. BUT, the number one problem our country faces is that the vast majority of us are PRETENDING.
The White House is pretending the U.S. government does not have full control over what is happening in the economy. The media are pretending not to know that the White House is avoiding admitting the agenda and economic pain is intentional and unavoidable. The republican politicians are pretending the Biden economic transition program is because the White House is incompetent. All of these -and so many more- are just pretenses.
What is being done by the government, in this decision to switch from an oil and gas economy into a wind and solar economy, is being done on purpose. Yes, everyone at every level of government, both political parties and every agency within it, and the entirety of the corporate media are pretending not to know this is the Green New Deal taking place.
We cannot confront or solve this stuff, until we -including media- stop pretending. Brian Deese is Baghdad Bob.
Posted originally on the conservative tree house on May 31, 2022 | Sundance
…..Quit Pretending
Joe Biden is not running this economy. Joe Biden’s economic advisors are not running this economy. Joe Biden’s cabinet members are not running the economy. The people running this economy are the climate change activists behind the scenes who have been elevated into positions in all economic cabinet offices throughout the administration. This was the deal in 2020 that led to Biden’s installation.
Professional political activists, Elizabeth Warren and Bernie Sanders types, within the Interior Dept., Energy Dept., EPA and other regulatory agencies related to the energy economy are in control. Not a single operator within the system looks to the White House or executive office for guidance. They knew they had a short window to carry out the unilateral agenda regardless of damage it does.
This is a full-throated assault on the energy industry under the auspices of the climate change agenda. And that is what is collapsing Main Street and pushing massive costs onto consumers via inflation. That’s it. That’s the background. No one in/around the White House has any control over the consequences. That was the 2020 deal made, and the reason why Biden was selected as the nameplate.
Oil prices have shot up to $120/barrel. Russia and Ukraine are being used as a smokescreen for the ‘Build Back Better’, or domestically, the “Green New Deal’, agenda. The same climate agenda supported by the entire Western government alliance who bow to the altar of the World Economic Forum.
Damn the consequences, full speed ahead. Main Street citizens are collateral damage. They don’t care. In the view of the operators, their urgent goals are bigger than our needs; and their high-minded, filled with superiority justification is, they are trying to save us from ourselves.
US NEWS – The jump of more than 50% for oil prices so far this year has been a big contributor to the very high inflation sweeping the world. Earlier Tuesday, a report showed inflation in the 19 countries that use the euro currency hit 8.1% in May, the highest level since records began in 1997. (more)
Of course, every American can feel the impact, even if they cannot identify the reasons outlined above.
WASHINGTON – Americans’ confidence in the economy has plummeted to a new low, hitting likely the lowest confidence since the end of the Great Recession in early 2009, according to a new Gallup poll released on Tuesday.
Gallup’s Economic Confidence Index (ECI) measured -45 in May, which is down from -39 in each of the past two months. (more)
The only thing we know with absolute certainty, is that things are going to get worse. They know how bad it is going to be, that’s why they are working to mitigate any risks to the centralized power. That risk mitigation includes the need to consider armed citizens as a threat to the process.
There will be electricity shortages. There will be even more “necessarily skyrocketing” increases in energy costs, both cooling and heating. There are going to be more, even larger, food price increases and potentially some shortages.
As each unavoidable item like housing, energy, gas and food costs more, there are less dollars available for non-essentials. Inventories on durable goods will climb as consumers hunker down with priority spending on the most essential items. If the demand is gone, employment layoffs in the goods sector will take place.
This process, a very predictable yet unnatural outcome from the consequence of completely restructuring the energy sector which underpins the economy, is not going to get better. There is far more downside yet to travel.
We are entering the ‘you will have nothing, and you will be happy phase.’
The sanctimonious and pontificating elite class are justifying all of this pain by saying they are trying to save the planet.
Interestingly, he made these comments shortly after Ontario experienced a disastrous storm that left 150,000 people without power. I am sure people would be thrilled to drop their kids off at school via bike or trek through a storm to arrive at a job that pays only enough to make ends meet with sky-high inflation. The common suggestion of politicians to buy an electric vehicle is insulting to the majority of the population who cannot afford that luxury. According to Scotia Bank, the average cost for an EV in Canada is between C$32,000 and C$160,000. The average maintenance cost is C$1,150 annually, not including charging or unexpected fees.
There is no silver lining to the energy crisis; there is no alternative option to gas at this point in history.
A large portion of the youth can no longer afford to live on their own. A new survey found that around 40% of parents in the US currently have an adult child still living at home. An additional 25% reported that their adult child temporarily lived with them but has since moved out. Of the 2,200 respondents, 33% said that their adult children simply could not afford housing on their own. An additional 33% said their child needed financial support after college, while 17% cited job losses.
This has darkened what should be the “golden years” for many Boomer parents. Around 35% said they could no longer afford their long-term goals, and 26% said supporting their adult children has hurt their short-term financial goals. An additional 14% said the added cost had limited their ability to save for future health care.
Previous generations could afford to go to school, work hard, buy a home, and start a family. That is no longer the case amid inflation at a 40-year high coupled with historically high housing and rental costs. The average federal student debt is $36,510 per borrower, while private student debt averages $54,921. Home buying is out of reach for many, as the current average price for a home in America is nearly half a million dollars. Even those with the best credit, and help from their parents, have been outbid by cash offers. Rental costs are through the roof, with the average one-bedroom going for $1,683 (22.1% YoY increase), but it is hard to find an available apartment as occupancy hit 97.5% in December 2021. This all ties in with the drastically declining birthrate as people cannot afford to support themselves, let alone a family.
The unfortunate state of the economy will lead to a new generation of frustrated individuals who are behind in life at no fault of their own. The government has killed the economy, and with it, the American dream.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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
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