At the World Economic Conference in 2021, the Armstrong Socrates model predicted that 2022 was going to be volatile and chaotic featuring a strong US dollar, a huge move in interest rates, a major bond market decline, fertilizer and food shortages, as well as escalating geopolitical tensions in Ukraine.
What now? Socrates forecast that 2023 will be more volatile and chaotic, featuring violent moves across all markets as monetary and geopolitical tensions and debt problems intensify.
At this year’s World Economic Conference, November 11-13, Martin Armstrong will talk about what’s next for the US dollar and other currencies, the liquidity/credit crisis, as well as price targets for oil, gold, stocks, bonds/interest rates, and stocks.
Biden’s IRS army of 87,000 new armed recruits is coming under fire by the Republican party. Sen. Chuck Grassley (R-Iowa) and Sen. Jon Thune (R-SD) are working on a bill that would require Congress to approve IRS spending. Both men also sit on the House-Senate Joint Committee on Taxation. Biden would like to spend $80 billion on his IRS army over the next decade to shake down American taxpayers.
“Our bill will ensure that the IRS is answerable to the American people in how it uses this money and will force it to forfeit funds every day it’s not in compliance,” Grassley said. “If our bill becomes law, the Biden administration’s IRS would have to answer to the American people, not Washington bureaucrats,” Thune added. The American people fund the IRS, and it is only right that they vote on how their money is spent. In fact, they should vote on whether there is a need for the IRS at all.
If the bill passes, the IRS must explain how they use their money every year. Funding to the IRS would be withheld if they failed to comply. If Congress turns red this November, this measure is likely to pass. This would be a great first step in a long overdue overhaul of the entire US tax system, which is designed to be as complex as possible so that the government can squeeze funds out of every citizen.
Jair Bolsonaro did not immediately concede to Luiz Inacio Lula da Silva after the close election of 49.1%-50.9%. This is the closest presidential race in Brazil since 1985 and marks Bolsonaro’s first defeat in his political career. Bolsonaro supporters held mass protests across the nation to protest Lula’s victory and blocked hundreds of major roadways. Bolsonaro first sided with the protestors, saying they felt “indignation and a sense of injustice.”
As our computer warned, there would be intense politically motivated civil unrest worldwide this November.
The intense backlash from across the globe caused Bolsonaro to change course. “I know you are upset… Me too. But we have to keep our heads straight,” Bolsonaro said in a video posted online. “I will make an appeal to you: clear the highways.” Bolsonaro confirmed with Brazil’s Supreme Court that he will hand over power to Lula. “I have always played within the four lines of the constitution,” he said, without declaring defeat.
Luiz Inácio Lula da Silva is a member of the World Economic Forum. World leaders also affiliated with the “elite” group have congratulated him on his win. His policies will align with other WEF leaders and is a glimpse into what to expect from Brazil going forward. Bolsonaro’s words to the people will not eliminate the anger they feel nor will it prevent the people from continuing to protest.
Posted originally on the conservative tree house on November 6, 2022 | Sundance
Using the outline of the previous global famine to trace a modern history of desperation and the Live Aid movement rallying of the public to feed the world, Neil Oliver contrasts the current cultural Green Agenda 40 years later and the pending energy crisis.
If millions were at risk in the 1980’s, how many are likely at risk today? Yet the same people, institutions and systems that rallied to save the hungry are right now the same people, institutions and systems willing to inflict more harm as they chase the false climate change agenda. It is an interesting and brutally honest perspective.
Oliver then walks through the looming and predictable consequences as he follows the process to its logical conclusion. WATCH:
Posted originally on the conservative tree house on November 6, 2022 | Sundance
The Wall Street Journal is reporting that Facebook’s parent company, Meta, is planning to lay off people after the midterm election next week. Meta has lost 70% of its stock value after announcing poor user engagement and financial support last week while investors fled to the exits.
In the big picture, those companies who were ideologically aligned with the Biden administration’s larger political efforts will all likely start announcing layoffs soon. There’s a better than reasonable likelihood some companies have deferred layoff announcements in an effort to help the employment stats for the Biden Administration.
(Via Wall Street Journal) – […] The layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to the people. Meta reported more than 87,000 employees at the end of September. Company officials already told employees to cancel nonessential travel beginning this week, the people said.
The planned layoffs would be the first broad head-count reductions to occur in the company’s 18-year history. While smaller on a percentage basis than the cuts at Twitter Inc. this past week, which hit about half of that company’s staff, the number of Meta employees expected to lose their jobs could be the largest to date at a major technology corporation in a year that has seen a tech-industry retrenchment.
The cuts expected to be announced this week follow several months of more targeted staffing reductions in which employees were managed out or saw their roles eliminated.
“Realistically, there are probably a bunch of people at the company who shouldn’t be here,” Mr. Zuckerberg told employees at a companywide meeting at the end of June. (read more)
The empty service station tanks in North Carolina today come after Mansfield Energy warned of a critical “diesel fuel shortage in the Southeastern United States, including North and South Carolina” [link]
RALEIGH, N.C. (WNCN) — A diesel fuel alert issued a week ago by a key fuel logistics company hasn’t changed — despite a small increase in inventories of diesel over the last week. The alert from Mansfield Energy a week ago was for the Southeastern United States, including North and South Carolina, Virginia, Tennessee, Georgia, Alabama, and Maryland.
The low supply left the Southeastern United States with just 25 days worth of diesel fuel, the company said. U.S. Energy Information Administration (EIA) reported Friday those numbers were actually down a bit from last week along the East Coast.
Low supplies make it difficult to find the fuel quickly, which means trucks have to visit several terminals and “strains local trucking capacity,” the company said. The low supplies also mean an increase in prices for diesel. On Friday, diesel prices opened up 10 cents for the week, Mansfield said. (read more)
Posted originally on the conservative tree house on November 4, 2022 | Sundance
Earlier today Joe Biden said he is confident in the midterm election next week because the American voters love the high inflation economic policies he has initiated.
BIDEN: “And I find that — that the thing that gives me the most confidence is the fact that the policies we’ve initiated, people care about. Now, they want more. They write to me, but I don’t know anybody who’s really opposed to us”…
Posted originally on the conservative tree house on November 4, 2022 | Sundance
During a speech today, Joe Biden bragged about the example of his visit to a Massachusetts coal-fired plant that was forced to close due to regulation. However, what Biden didn’t mention was the energy provider telling customers to expect a 64% increase in electricity rates effective November 1st.
BIDEN: …”I was just — and so we can accommodate that transition. I was in Massachusetts about a month ago on the site of the largest old coal plant in America. Guess what? It cost them too much money. They can’t count. No one is building new coal plants because they can’t rely on it, even if they have all the coal guaranteed for the rest of their existence of the plant. So it’s going to become a wind generation.
And all they’re doing is — it’s going to save them a hell of a lot of money, and they’re using the same transmission line that transmitted the coal-fired electric on. We’re going to be shutting these plants down all across America and having wind and solar.”… (link)
Massachusetts – […] National Grid said the monthly bill of a typical residential customer using 600 kilowatt-hours of electricity will increase from $179 last winter to about $293 this winter, an increase of about 64%. National Grid said the delivery portion of electric bills will basically remain flat.
“National Grid buys electricity on behalf of its customers from the wholesale power market through a regulatory approved process established 20 years ago. That process has served customers well over the years and provides flexibility for unforeseen events, like limited supplier response to solicitations. But things have fundamentally changed,” Helen Burt, the company’s chief customer officer, said in a statement. “Today, under a sustained, high market price environment, it is challenging to maintain affordable prices. Given that, we think it’s a good time to work with our regulators and other stakeholders to review the process and electricity supply dynamics in the region, with an eye toward reducing price volatility and maintaining a secure, reliable and resilient energy system for the future.”
The company also announced that its natural gas rates are expected to rise on Nov. 1. They said they have a pending proposal with the state Department of Public Utilities that would result in the monthly bill for an average Boston Gas residential heating customer using 115 therms per month of $278, an increase of $50, or 22%, compared to last winter’s rates.
Eversource did announce Wednesday that it has submitted a proposal to the Department of Public Utilities seeking to raise its natural gas rates. They said their average residential customer using 126 therms of gas a month would see an increase of about 38%, or $86 on their natural gas bill over last winter. Those rate increases would take effect Nov. 1. (read m0re)
Thank you to the reader who sent in this hilarious image. Despite all the incoming data and price instability, some expected the Fed to pivot on its stance. Even BlackRock reportedly told advisers to expect “pivot language” at the last Federal Open Market Committee meeting. They were hoping that the Fed would announce a looser stance for the December meeting despite conditions failing to improve.
The markets correctly anticipated a 75 bps hike for November. Jerome Powell said that incoming data from the last meeting has led the central bank to believe that rates will edge HIGHER than originally anticipated. PCE rose 6.2% over the past 12 months, with core PCE rising by 5.1%. Long ago after Powell changed his “transitory” stance, he reiterated that the Fed’s main goal is to bring levels back to the 2% target. Price stability is the top priority – period.
“As I’ve said in the last two press conferences, it will become appropriate to slow the pace of increases, as we approach the level of interest rates that will be sufficiently restrictive to bring inflation down to our two percent goal. There is significant uncertainty around that level of interest rates. Even so, we still have some ways to go, and incoming data since our last meeting suggest that the ultimate level of interest rates will be higher than previously expected,” the chairman reiterated.
The central bank realizes that the situation will only worsen. “Restoring price stability is essential to set the stage for achieving maximum employment and stable prices in the longer run. The historical record cautions strongly against prematurely loosening policy. We will stay the course, until the job is done,” Powell commented. His Q&A after the announcement only reiterated his extremely hawkish stance (see video above).
Powell said the Federal Reserve is honing in on three main factors: 1) how fast to tighten policy, 2) how high to raise rates, 3) how long to remain on the current course. Powell said they would move “expeditiously” to move rates, especially given the low starting point. He believes that incoming data justifies ongoing rate hikes, and his estimate is higher than what was announced in September. Finally, he said they might have a discussion on when to loosen policy, but there was an emphasis on the word discussion.
QUESTION: What Tucker said about Raskin, would you call that fake news or misinformation? Just curious.
HJ
ANSWER: That was Tucker’s “interpretation” of the implication of what Raskin said. It falls outside of both and would probably attribute that more to political bias. I would say “fake news” is more what we saw with COVID where it is just outright false that is not attributed to interpretations or bias. I would say the “misinformation” is probably just another label for fake news. Hillary calling Trump supporters deplorable is not fake news or misinformation, it is just political bias.
What Tucker said was not fake news nor misinformation, but simply this class of political bias. That is what is probably dividing the country more than anything. It is this demonizing an opponent and both sides are doing it today. The vaccine scam of hiding the side effects is more in the area of fake news and misinformation.
Biden is out there claiming a Republican victory will be chaos for the economy. That is not Fake News or Misinformation, it is just political rhetoric that has become standard hate speech in politics.
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
Centinel2012 