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.
The Pennsylvania Senate debate between John Fetterman and Mehmet Oz was a complete disaster for Fetterman. I think everyone felt secondhand embarrassment for John. Fetterman seemed incoherent for most of the debate. He struggled to form logical sentences or stay on topic.
His team is now in the midst of damage control. They claim that he was brave for speaking weeks after his stroke and that the closed captions provided were altered. “We are thrilled with John’s performance. He did remarkably well tonight – especially when you consider that he’s still recovering from a stroke and was working off of delayed captions filled with errors,” Fetterman’s team managed to say. The doctor who gave Fetterman the OK after his stroke also happens to be one of his campaign donors. Clearly, he was not healthy enough to be on that stage.
Some people would have voted for Fetterman even if he were in a coma simply because he is not a Republican. Others, however, are shocked at the candidate’s mental state. The problem is that close to a million people have already voted in Pennsylvania through mail-in ballots. There may be some sensible people left who are now regretting their vote after seeing his performance on Tuesday night.
Mail-in ballots are not tracked through the mail and open the door to fraud (see: 2020 US Presidential Election). Fraud aside, people did not have a full scope of knowledge before they voted. It would be akin to allowing students to take their final exams during the first few weeks of class.
Our computer indicated that Pfizer was heading down. They’ve already convinced or coerced everyone eligible to take the vaccines. Those who have held out are unlikely ever to accept the vaccine at this point. Only 5% of those eligible in the US received a booster shot as skepticism is rising. Numerous studies have revealed the hidden dangers of the vaccine. Transmission and infection are still possible with the vaccination, eliminating the intended purpose. A Pfizer representative recently admitted that they never even tested the potion for transmission. Worse, new studies determined that the vaccine produces a negative effect and makes people more susceptible to COVID. There is no medical basis for taking them.
Still, there are those who will line up to receive another booster. To compensate for the lack of willing participants, Pfizer announced plans to quadruple the price of its COVID vaccine. Pfizer will now charge around $110 to $130 per dose, and this comes at a cost to governments who are willingly paying to distribute the poison to the public. The US government helped Pfizer create the vaccine under Operation Warpspeed by providing them with billions in funding.
“We are confident that the U.S. price point of the COVID-19 vaccine reflects its overall cost effectiveness and ensures the price will not be a barrier for access for patients,” Pfizer executive Angela Lukin said. The US was previously paying around $30 per jab. Coincidentally, once the COVID emergency order ends, private insurance companies will be forced to pay the increased price for a faulty product. Lukin believes the private sector will not take over the bill until Q1 2023 “at the earliest.” It will be interesting to see if insurance companies are willing to eat the cost of the vaccine. More than likely, they will expect some incentive from doing so, or Pfizer and others will offer some rebate program funded by the government that continues to support this agenda.
Posted originally on the conservative tree house on October 26, 2022 | Sundance
During a White House announcement today, Joe Biden pledged to have all agencies in the federal bureaucracy begin to target private industry for charging service fees, or what the administration calls “junk fees.” The junk fees relate to everything from bank overdraft charges, to hidden cleaning fees on car rentals, to hotel resort fees and even fees on airlines for seats with more legroom.
According to the White House, the junk service fees disproportionately impact marginalized communities, minorities and low-income households. The airline fees are particularly racist because the airline prices for more comfortable seats have a “disparate impact” (legal term for federal intervention) on protected categories of people.
Poor people cannot afford bigger seats. Poor people are disproportionately minority. Ergo a higher percentage of minority people cannot afford the comfortable seats. That makes charging more for comfortable seats an illegal practice according to the legal theory of ‘disparate impact.’ WATCH:
[Transcript] – […] Some airlines, if you want six more inches between you and the seat in front, you pay more money. But you don’t know it until you purchase your ticket.
Look, folks, these are junk fees. They’re unfair, and they hit marginalized Americans the hardest, especially low-income folks and people of color. They benefit big corporations, not consumers, not working families. And that changes now.
You know, we’ve been working on this for a while. I know it’s been a tough few years. But from day one, my administration has been laser-focused on easing the burden facing working-class families and giving them, as my dad would say again, just a little breathing room.
And because of the steps we’ve taken, the United States is in a stronger position today than any other country in the world, economically.
Jobs are up. People are back to work. American manufacturing is roaring back.
As a matter of fact, I’m going to be heading up to Syracuse, New York — that area — where a U.S. company, Micron, is going to be investing $100 billion. I think I go day after tomorrow or the day after tomorrow. Manufacturing computer chips will put tens of thousands of Americans to work.
Working hard to tame inflation with policies to bring down the cost of gasoline, home energy bills, and prescription drugs. (read more)
The justice department’s use of the legal theory behind “disparate impact” was an outcome of Barack Obama and Eric Holder taking office.
The Disparate Impact outlook then became part of the regulatory and compliance system within every agency of the federal government, including the Dept of Labor.
Essentially, it is a progressive legal theory advanced by the long-term members of Lawfare, and it carries inherent conflict with existing law. Take this example…..
The Dept of Labor states that businesses cannot discriminate in employment law based on legally protected categories of person, like race, marital status, nationality, sex, gender, pregnancy, or sexual identity. Simultaneously, it is also unlawful for businesses to hire illegal aliens as workers. When businesses used social security systems to check employment eligibility, they ran afoul of the ‘disparate impact’ rule.
A higher percentage of Mexican nationals were disqualified from employment because a higher percentage of Mexican nationals in the U.S. used fake documents. Because the percentage of disqualified Mexicans for employment exceeded the percentage of Mexicans in the population, the use of the SSI system for employment eligibility was originally unlawful under the rules of ‘disparate impact.’
It sounds crazy, but that’s the way this legal term is used within the federal bureaucracy.
Disparate Impact is the underlying premise behind the regulatory authority Joe Biden is stating today in his approach toward “junk fees.”
This is the larger legal framework behind Social Justice, Economic Justice and Equity.
Posted originally on the conservative tree house on October 26, 2022 | Sundance
According to a released article in Time Magazine, Twitter employees have drafted a letter containing several ‘demands.’ In addition to demanding they are not fired, they demand assurances against discrimination for their political beliefs.
(TIME) […] TIME reviewed a draft of the open letter circulating among Twitter employees on Monday. “Elon Musk’s plan to lay off 75% of Twitter workers will hurt Twitter’s ability to serve the public conversation,” said the draft of the letter, which has not yet been published. “A threat of this magnitude is reckless, undermines our users’ and customers’ trust in our platform, and is a transparent act of worker intimidation.”
The letter demands that Musk commits to preserving Twitter’s current headcount if his takeover of the company goes through. It also demands he does not discriminate against employees based on their political beliefs and that he commits to “fair” severance policies and more communication about working conditions. “We demand to be treated with dignity, and to not be treated as mere pawns in a game played by billionaires,” the list of demands says. (read letter here)
Posted originally on the conservative tree house on October 26, 2022 | Sundance
A lot of people didn’t like Steven Mnuchin as Treasury Secretary, I did. Secretary Mnuchin was an inside player, a billionaire himself, who worked for the outside team. He already had a full bank account and carried ‘f**k-off’ money. That, combined with Wilbur Ross having the same ability, was exactly what we needed to execute the America-First MAGAnomic resurgence.
The U.S. middle-class saw and felt the benefits. Economic security is national security, at a nationwide and even individual level. Mnuchin, Ross and Lighthizer constructed that economic outcome guided by the larger strategy of President Donald J Trump.
RIYADH, Oct 26 (Reuters) – Former U.S. treasury secretary Steve Mnuchin said on Wednesday he believed the United States was in a recession and said this would continue.
Speaking at Riyadh’s flagship investment conference FII, he said: “I think we’ll probably see a peak of 4.5% 10-year rates.”
“I think you are going to see inflation in the U.S. begin to come under control, it will probably be a two-year period,” he added.
He said the U.S. and China must learn to co-exist. He added that the Middle East’s economic issues need to be dealt with regionally. (link)
Posted originally on the conservative tree house on October 26, 2022 | Sundance
The extreme vitriol against the recent OPEC+ decision to cut oil output, specifically the extreme Biden anger toward Saudi Arabia, now takes on additional context as the New York Times writes about a secretly negotiated deal between the Kingdom and White House officials that was never executed.
As the Times reveals, over the summer the White House thought their team had negotiated a deal with Saudi Arabia for increased oil production that would have lowered oil and gasoline costs in the U.S, strategically timed before the midterm election.
With that agreement in mind, Joe Biden went to Saudi Arabia a few months ago. However, as the western alliance began putting more pressure on Russia and increased the activity within Ukraine, the Saudi’s aligned with OPEC+ to support Russia via lowered oil outputs. The White House felt double-crossed, hence the fury.
(New York Times) – WASHINGTON — As President Biden was planning a politically risky trip to Saudi Arabia this summer, his top aides thought they had struck a secret deal to boost oil production through the end of the year — an arrangement that could have helped justify breaking a campaign pledge to shun the kingdom and its crown prince. It didn’t work out that way.
Mr. Biden went through with the trip. But earlier this month, Saudi Arabia and Russia steered a group of oil-producing countries in voting to slash oil production by two million barrels per day, the opposite of the outcome the administration thought it had secured as the Democratic Party struggles to deal with inflation and high gas prices heading into the November elections.
The move led angry Biden administration officials to reassess America’s relationship with the kingdom and produced a flurry of accusatory statements between the two governments — including a charge by the White House that Saudi Arabia was helping Russia in its war in Ukraine.
[Democrat] Lawmakers who had been told about the trip’s benefits in classified briefings and other conversations that included details of the oil deal — which has not been previously disclosed and was supposed to lead to a surge in production between September and December — have been left fuming that Crown Prince Mohammed bin Salman duped the administration. (read more)
This approach makes sense from the perspective of a White House intent on manipulating the U.S. economy to achieve ideological goals.
The climate change agenda is a larger picture scheme all about power and control. Downstream mechanisms of government, and institutions in the private and financial sector, collaboratively created by people in power, want to take advantage of the fraudulent dynamic for increased influence and affluence.
The love of money is always at the root of evil enterprise. The Build Back Better / Green New Deal is ultimately about controlling people and assembling more wealth amid a small tier of self-described elites. Inflation that crushes the working class around the world is an outcome of this larger dynamic of manipulating energy.
“The Great Reset” is designed to the benefit of the few.
…”I think they may have wanted a sword dance, lol”…
Posted originally on the conservative tree house on October 25, 2022 | Sundance
As inflation bites the working-class hard, U.S. household savings rates continue dropping fast. When combined with drops in home values the loss in home equity compounds the issue. American families are getting poorer much more quickly under Joe Biden’s economic policies.
According to the Wall Street Journal home values dropped in August at their highest monthly rate of decrease since 2011 {link}. In part this is driven by higher mortgage rates which are pricing home buyers out of the market. However, the regional impact is worse on the west coast than east or southeast.
As noted in The Daily Mail review of a similar analysis: “It’s Northern California that leads the way, with San Jose experiencing a drop of 10.8 percent since September, followed by San Francisco at 8.5 percent, then it’s Seattle at 8.2 percent, Denver at 5.8 percent, San Diego 5.2 percent, Portland 5.1 percent, Las Vegas 4.8 percent and Phoenix at 4.4 percent.” (link)
What we are seeing is a confluence of events, generally brought about by the outcomes of larger Biden administration policy. Massive increases in energy costs are the result of energy policy; those increases are fueling inflation from the supply side on food, fuel, electricity, home heating etc. Simultaneously, Fed monetary policy is driving consumer demand down. The recession debate continues amid the economic think-tanks while Main Street outcomes show we have been in a recessionary period all year.
The majority of consumers have stopped purchasing nonessential goods and services. As a result, the only thing holding the economy together is employment. Sooner or later, as the natural lags in the economy bite down, the lack of consumer spending (noted in increased inventories) is going to result in lay-offs and unemployment. It’s almost a guarantee at this point once the boxcar impact of the prior supply chain shortages straightens out.
The third wave of food price increases is now here, and we are all likely starting to see those price increases in retail food stores. Depending on how much higher energy prices go this winter (gasoline, natural gas, home heating oil etc.) the middle class will again be making tough checkbook decisions on spending.
On a MACRO level (nationwide averages) I would not be surprised to see home prices drop to where they were in the beginning of the second quarter of 2021. Home sales have dropped quickly, and home inventories are now climbing. Home buyers are now in the position to negotiate for much lower prices as fewer home buyers are in the market.
If you did not purchase a home in the past year, you likely have stable equity. Depending on region, those who did purchase a home this year will have to wait quite a while before the price level returns. Meanwhile rents continue increasing as middle-class workers are stuck between diminishing real wages (Biden inflation) and higher home borrowing costs (Biden monetary policy).
Posted originally on the conservative tree house on October 23, 2022 | Sundance
NBC’s Mark Murray {Eyeroll} produces a midterm media poll {DATA HERE} to frame the 2022 election and claim a tight race for both Democrats and Republicans. Despite collapsing economic numbers, widespread inflation and disapproval on every category, NBC finds the #1 issue for all voters is “The Threat to Democracy.”
NBC’s Chuck Todd gives the spin on the outcome:
.
71% of the country say we are on the wrong track (20% approve).
57% of the country disapproves of the job Biden is doing with the economy (38% approve).
50% of the country says things will get worse (20% think will improve)….
…. But it’s a close election?…
…. And the #1 concern is “the threat to democracy?“
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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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