Davos in the Desert


Armstrong Economics Blog/World Trade Re-Posted Oct 27, 2022 by Martin Armstrong

Some of the biggest players have gathered in Riyadh, Saudi Arabia, for the annual Future Investment Initiative (FII). The conference is often referred to as “Davos in the Desert,” as they are competing with the World Economic Forum to be the largest economic conference of the year. Washington’s relationship with Saudi Arabia is at a standstill, but that is not preventing Wall Street’s chief names from attending.

“American companies will make their own decisions about their presence and where to invest, taking into account a range of factors including legal constraints, the business environment, and reputational concerns that can arise from public policy choices made by host countries,” said Karine Jean-Pierre, the White House press secretary.

Former Treasury Secretary Mnuchin and Trump’s son-in-law Jared Kushner, who both run private funds backed by the Saudis, were in attendance. JPMorgan’s Jamie Dimon and Goldman’s David Solomon spoke at the event along with Blackstone’s Stephen Schwarzman and investor Ray Dalio. FTX CEO Sam Bankman-Fried also spoke at the event. No one associated with the Biden Administration was in attendance as Washington is re-evaluating its relationship with Saudi Arabia.

Saudi Arabia’s economy is rapidly growing. The event is Prince Mohammed’s opportunity to show that the kingdom is ready to be seen as a financial powerhouse beyond its energy sector. The private sector is making it known that they are willing to invest in Saudi Arabia despite Washington’s reluctance.

Biden Begs OPEC+ to Delay Vote Until After Midterms


Armstrong Economics Blog/Corruption Re-Posted Oct 17, 2022 by Martin Armstrong

Joe Biden is playing dirty before the midterm elections by urging Saudi Arabia to delay the OPEC+ oil vote until December. The Saudis, who unofficially run OPEC+, do not respect Joe. OPEC+ voted on October 5 to cut oil production despite Joe’s desperate pleas. In a desperate attempt to avoid further embarrassment, Biden asked them to delay the next vote.

The Foreign Ministry of Saudi Arabia replied with a letter rejecting Biden’s requests. The kingdom said they declined Biden’s request in October for purely financial reasons. They reject the idea that they declined on behalf of Russia and said that they are not interfering in international conflicts. Worse, they believe that Biden is promoting the idea that Saudi Arabia is against the United States. In reality, they want to make money and be left alone. Oil is what keeps their kingdom afloat. The letter confirms their relationship with the United States is “strategic” as a trading partner and nothing more.

As for pushing back the next vote, that is not in Saudi Arabia’s interest. They explained that “economic analyses indicate that postponing the OPEC+ decision for a month, according to what has been suggested, would have had negative economic consequences.”

White House officials have confirmed Joe’s election interference. “We presented Saudi Arabia with analysis to show that there was no market basis to cut production targets, and that they could easily wait for the next OPEC meeting to see how things developed,” National Security Council spokesman John Kirby said in a statement. Yet, the White House swears this decision has nothing to do with the midterms.

This sounds like election interference to me.

Jim Cramer on Bear Stearns (2008)


Armstrong Economics Blog/Economics Re-Posted Sep 20, 2022 by Martin Armstrong

This is a reminder of why I warn against listening to the talking heads. Unlike advanced AI software, these mouthpieces speak from a biased perspective. On March 11, 2008, Jim Cramer told his audience on CNBC’s “Mad Money” that “Bear Stearns was fine!” At the time, the stock was going for $62 before crashing down to $2 only five days later.

When a viewer wrote in to Cramer to ask about Bear Sterns experiencing a liquidity crisis, Cramer shouted: “NO, NO, NO! BEAR STEARNS IS FINE! DO NOT TAKE YOUR MONEY OUT! If there’s one takeaway, Bear Stearns is not in trouble.” He added, “I mean, if anything, they’re more likely to be taken over. Don’t move your money from Bear. That’s just being silly. Don’t be silly.”

Cramer later tried to claim he never said to buy the stock, but was simply discussing the banking sector. He was trying to prevent a panic, he claimed. In reality, this man has repeatedly made poor calls, yet still remains on air. His screaming tirades are interrupted by commercials and his show is nothing more than the QVC of stocks.

Cramer is an entertainer. Even if I were to go on TV and make forecasts solely from my own viewpoint, I would be doing a disservice to my audience. If you’re looking for true analysis, then there is only one tool that is unbiased and capable of tracking every market around the world.

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.

Using Executive Power Biden Pledges Increases in OSHA Workplace Inspections as Part of Climate Change Compliance System


Posted originally on the conservative tree house on July 20, 2022 | sundance 

Joe Biden has pledged to increase his use of executive power in order to deconstruct the U.S. energy system and recreate a Green New Deal energy economy using windmills and solar power to generate electricity.  Today, Biden kicked-off the first round of executive orders [READ HERE].

The first round of executive orders is essentially payments to low income Americans for the increased costs of Biden’s new energy programs.  However, for those paying close attention, I would direct you to notice this predictable aspect in the “Fact Sheet” provided by the White House:

…”the Department of Labor’s Occupational Safety and Health Administration (OSHA) has already conducted 564 heat-related inspections, which are focused on over 70 high-risk industries across 43 states. On days when the heat index is 80°F or higher, OSHA inspectors and compliance assistance specialists are engaging in proactive outreach and technical assistance to help stakeholders keep workers safe on the job.”

Overlaying the COVID-19 mandates and executive orders as a guide, I think everyone can see where this is going.

[Go Deeper Here]

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Prepare for the Biden Blackouts…

The Government is Tracking You


Armstrong Economics Blog/Corruption Re-Posted Jul 20, 2022 by Martin Armstrong

Yes, the government is tracking your movements. You do not need to have a COVID pass installed on your phone nor do you need to be a criminal. The location data industry has become a $12 billion market that is actively growing.

It recently came to light that the Trump Administration began tracking mobile data on a grand scale. The Department of Homeland Security targeted information on at least 336,000 data points across the country. Biden continued tracking American’s locations and provided the Customs and Border Protection with a $20,000 contract last September.

One company, Venntel, said that it has access to 250 million phones and devices. There are currently no restrictions on this invasion of privacy, and the government may legally track you and your family. This information has been abused by various agencies, such as one that tracked the location of people who visited abortion clinics.  The US military even used the technology to identify Muslim populations.

“There are over 350 million mobile devices in the United States in use today, and that number is growing exponentially as more people purchase mobile devices every day. Therefore it is not uncommon to encounter individuals involved with illicit activity taking advantage of mobile technology to further their criminal goals,” a contract between CBP and Venntel said.

You can attempt to turn off your device’s location, but that is extremely difficult considering the number of apps we use on a daily basis. GPS? Tracked! Social media? Tracked! Various search engines? You bet!

I believe this violates the Fourth Amendment, which is intended to protect citizens from unreasonable searches and seizures by the government.

U.S. Public Broadcasting Promotes American Diet of Insects to Support Biden Administration Climate Change Initiatives


Posted originally on the conservative tree house on July 19, 2022 | sundance 

The goal of gaining public acceptance for eating insects instead of meat is now part of the Public Broadcasting Service (PBS) effort.  The larger climate change objective is to “transition” the global food supply away from cows, pigs and chickens, and toward a more sustainable lifestyle of eating insects and bugs.   Farmers in North American and Europe are facing massive regulatory changes as part of the Build Back Better or Green New Deal initiatives.

In the U.S. Joe Biden has pledged his entire administration effort toward the goal of reducing U.S. carbon emissions and protecting the planet.  Part of that initiative includes the need to change the diet of Americans away from traditional farm proteins, and toward sustainable alternatives via bugs and/or insects like cockroaches, crickets and grasshoppers.

A comprehensive marketing, branding and image campaign is underway to change the public perception toward an acceptance of sustainable algae and bugs as food sources.  Public Broadcasting (PBS) is part of that imitative:

(SOURCE)

Several U.S. food manufacturers now include insects and bugs as part of their ingredient list.  It would be worthwhile checking the labels on the latest snack foods to identify the percentages of worms and bugs that may be included in your favorite salted snack.

Additionally, a significant investment has taken place in Canada where they are now generating 9,000 metric tons of crickets to replace traditional protein sources (link).  The public/private partnership in London, Ontario, is now shipping crickets for use by North American food manufacturers.  There has been minimal public pushback against the effort and the government appears to be fast-tracking insects as food alternatives for global shortages of grain and meats.

In the United Kingdom, the government is now taking public feedback on the use of insects in the food supply.  According to a recent public notification from the U.K. Food Standards Agency, they are working toward an acceptable standard across the industry for insects and worms in the food supply.

From the notification: “A consultation on a proposed legislated transitional period under the novel food regulations for edible insects in England, Scotland and Wales. The proposal has been developed with input from Food Standards Scotland (FSS).” (more)

(Source)

As farmland across Europe and North America increasingly comes under enhanced “climate change” regulation from government, we can expect the speed of food supply transitioning to insects to increase exponentially.

There are a lot of government resources [EXAMPLE HERE] now dedicated to changing public perception.  The western government alliance wants people to start eating bugs, and, more importantly, want people comfortable doing so as the energy and climate regulations increasingly limit food options.

(Source Pdf)

With PBS now joining the chorus of insect food promotion; and with the increasingly discussed pending global food shortage now looming; it would appear that western leaders are following the advice from the World Economic Forum and preparing their citizens in Europe and North America to accept insects as food.

As noted earlier, you may already be eating the insects and just not be aware of it.  Apparently, people who are allergic to shellfish should be more concerned and diligent about the ingredients of the food they consume, as insects may generate the same allergic reaction.

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Biden Energy Security Official Says Administration Cannot and Will Not Accept or Approve Long-Term Oil and Gas Development


Posted originally on the conservative tree house on July 19, 2022 

This guy popped up after the trip to Saudi Arabia and has been spouting hypocrisies ever since.  In this first segment, White House senior energy adviser Amos Hochstein, in charge of U.S. energy security, says the administration cannot accept or approve any long-term oil and gas development that undermines the urgency of the crisis they are exploiting.

Instead, Hochstein says U.S. energy producers should invest in oil and gas development that turns an immediate profit. [Pro-tip, that doesn’t exist.]  Keeping the oil and gas industry in a perpetual state of shortage, overcapacity and expense, allows the “transition” to windmills and solar to remain urgent.  Put another way, the energy crisis is part of the plan. WATCH:

Mr. Hochstein also appeared on Fox News this afternoon to claim that coal is the worst of the worst and must never be used again.  When asked about Germany going back to coal to replace Russian gas, Hochstein says that’s a terrible plan.  However, Hochstein was never confronted over the stupid part of his anxiety.

Germany is being forced to use coal because Biden/Hochstein have triggered energy sanctions against Russia that stopped the flow of natural gas.  Germany is being forced to use the horrible coal because Biden/Hochstein is forcing them to.

In order for ideologues to retain their insane ideological positions, they must pretend not to know things.  Unfortunately, we do not have a media that is capable of calling them out on the hypocrisy and challenging the weakness of their positions.  Thus, the great pretending continues….

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Here it Comes, Joe Biden Set to Declare “National Climate Emergency” as Soon as Tomorrow


Posted originally on the conservative tree house on July 19, 2022 | sundance 

CTH cannot overestimate what is more likely than not, as the Biden administration is now reportedly going to declare a national climate emergency in order to take their Green New Deal policy to the next level via executive fiat.  [The Hill Story Here]

Any possibility of the Biden administration creating an even deeper economic collapse under the auspices of climate change regulation, has essentially been stalled by congressional opposition to further Green New Deal (Build Back Better) spending and regulatory legislation.

Some, albeit not enough, congressional representatives, can see what lies at the end of this fundamental energy change, a significant collapse of the United States economy.  However, the committed ideologues behind Joe Biden are not going to let the legislative branch interfere in their climate change agenda.

What we are about to see is most reasonably predictable against the backdrop of how Biden’s administration exploited the “national COVID emergency,” that backstopped and justified their eventual use of OSHA to mandate vaccinations, and regulatory control over the private sector, under the guise of a pandemic emergency.  We predicted that administration approach in December of 2020, and that is exactly what they did {GO DEEP}.

When CTH shared that OSHA would be the institutional regulatory vector for forced vaccinations, many said we were conspiracy theorists.  Ten months later that is exactly what the people behind Joe Biden did (link). Now we can expect that same health emergency approach (massive regulations) to repeat with the declaration of a national climate emergency.

Pause and think about the ramifications to all domestic economic and business interests if the federal government starts using all agencies to regulate a new climate emergency policy.  Think about the regulations, the scale of potential regulations, from the dept of transportation, the dept of labor (including OSHA), the dept of the interior, the dept of energy, the dept of housing and urban development, the dept of education, the dept of health and human services, and many more.

Joe Biden is an avatar; a political pawn; a cognitively declining guy who has no idea what is happening around him.

The people behind the Biden campaign, those in real control of what this is about, have not hidden their goals and aspirations.

These are not stupid people.

They are scheming, conniving, ideological, ever-planning, ever-manipulating & Machiavellian types within the political system, lusting for power, influence and affluence.

WASHINGTON DC – The Biden administration is considering the declaration of a climate change emergency in response to congressional inaction on the issue.

It’s unclear when and if such an announcement will come, though the White House had been considering a move as early as Wednesday.

Two sources familiar with the discussion on Tuesday morning told The Hill that the announcement could come Wednesday — the same day that Biden is expected to discuss climate during a trip to Massachusetts.

A third source also told The Hill that a climate emergency was under White House consideration.

By Tuesday afternoon, one of The Hill’s sources said that while the White House had planned to declare the emergency as soon as Wednesday, it has since advised that it will not do so on that day.

The Associated Press separately reported Tuesday afternoon that the White House would hold off from a declaration on Wednesday.

The Washington Post first reported late Monday that the White House was considering declaring the emergency as soon as this week. The White House announced Tuesday that Biden will travel on Wednesday to Somerset, Mass., to deliver remarks on tackling climate change.

A White House official declined to directly comment on whether Biden will pursue a climate emergency declaration, saying only that many options are under consideration.

“The President made clear that if the Senate doesn’t act to tackle the climate crisis and strengthen our domestic clean energy industry, he will. We are considering all options and no decision has been made,” the official said in an email.

The move comes as hopes for climate action on Capitol Hill have stalled, as swing vote Sen. Joe Manchin (D-W.Va.) backed away from talks last week following months of negotiations. The potential climate legislation, as part of Biden’s broader economic agenda, was expected to include major investments in clean energy. (read more)

Think about those types of business and energy regulations applied on a national level, and then, as seen in prior Democrat administrations with IRS etc, think about those energy regulations also being enforced through the prism of political affiliation.

Think about how states that refuse to participate will be cut off from federal grants and funding for college tuition, Medicare and/or Medicaid reimbursement, etc. etc.

Think about what happens to Main Street USA?

Think about companies on the NASDAQ or national companies on the stock-market?

Think about how those USA-specific federal energy compliance regulations apply when considering U.S. business operations -vs- just taking operations overseas without those worries.

Think about who in Washington DC then takes control of what types of business interests are allowed to operation…. who determines the winning and losing?

Think about how Federal emergency climate regulations can be used to put the multinational corporate world back (the globalists) on their former financial pathways, even without TPP and TTIP trade deals.  [Every domestic regulation weaponized against Main Street USA is a win for the Wall Street multinationals.]

Think about how much China and southeast Asia would benefit love to see our economy knee-capped in a Biden regulatory stranglehold; essentially achieving the same objectives as the Paris Climate Treaty.

Think long and hard about how far the tentacles of achieving the Green New Deal can extend under the auspices of federal emergency climate mitigation.

Remember, those who are working on this don’t care about the middle-class and they have not for decades. The visibility of the ‘rust belt’ is the reference. This is about government bureaucrats using their DC powerbase to control trillions in economic value and sell their ability to influence the winners and losers to the highest foreign bidder.

Look at what blue states have already done to seize power and control under the auspices of a national health emergency. Now think about that same manipulative intent spread throughout the entire country by weaponizing federal agencies with advanced regulation toward a national climate emergency.  The entire country turned into a California style-controlled energy economy.

Now, think carefully about how that approach aligns with a political change in personnel at the White House.  Joe Biden’s usefulness now exhausted.

Coming Soon: Climate Change v Animal Activists


Armstrong Economics Blog/Agriculture Re-Posted Jul 19, 2022 by Martin Armstrong

Two groups that usually overlap are about to come into direct confrontation due to the net-zero carbon culture. Both climate and animal rights activists have been known to make their voices heard through protests that are not always peaceful. Farmers are being unfairly targeted by climate change activists for having cattle that produce emissions, and governments are ramping up legislation to limit farming.

Farmers in Norway have been protesting for months as the government plans to eliminate around 30% of agriculture to reduce carbon emissions. Now, Northern Ireland is considering eliminating over one million cattle and sheep to meet emission targets by 2050. The Ulster Farmers’ Union (UFU) estimates that 500,000 cattle and 700,000 sheep will need to die. In a separate analysis, five million chickens will need to be slaughtered before 2035.

While animal activists to the extreme would like to end farming and create a meatless world, they are not going to be happy when they realize those piloting the climate change agenda plan to kill these animals rather than allowing them to live out their days on taxpayer-funded farms.

Activism aside, we are in the midst of a food crisis. Those in first-world nations have seen the cost of food rise drastically throughout the past year. Perhaps some of your groceries of choice are no longer available or are often out of stock. However, people are starving to death in less developed parts of the world at a rapid rate and there is not enough food or funding to save everyone. In fact, the World Bank estimated that world hunger reached a high in 2021 when 193 million became food insecure, a number that rose by 40 million from 2020. Our model indicates that this cycle will continue to grow.

In the meantime, those championing saving the world with various causes will come into direct confrontation with one another. The left will increasingly divide into left v Socialists and dampen plans for the Fourth Industrial Revolution.