Category UN IPCC

Aug 12 2022

IRS Seeking Agents Willing to “Use Deadly Force”


Armstrong Economics Blog/Corruption Re-Posted Aug 12, 2022 by Martin Armstrong

The enhanced police state is turning tax accountants into the Gestapo. The IRS was forced to remove its job description after creating a buzz across the internet.

“As a Special Agent you will combine your accounting skills with law enforcement skills to investigate financial crimes,” the job advertisement stated. “No matter what the source, all income earned, both legal and illegal, has the potential of becoming involved in crimes which fall within the investigative jurisdiction of the IRS Criminal Investigation. Because of the expertise required to conduct these complex financial investigations, IRS Special Agents are considered the premier financial investigators for the Federal government.”

“Financial investigators for the Federal government” aka their muscle to collect as much money in taxes as they can. The description states that it does not matter whether the income was earned legally because it could still be used in crimes. Everyone is to be treated as a criminal until proven innocent now.

Above is a list of the major duties that agents will be responsible for completing. Why on Earth would an IRS agent face a “life-threatening” situation on the job? Worse yet, they are expecting agents to carry guns, and they must be willing to KILL “if necessary.” The United States is turning into a complete police state under the current administration. We were seen as vermin due to the virus, and they see us now as criminals for simply earning money and existing.

Aug 12 2022

Monkeypox is Not the Next Pandemic


Armstrong Economics Blog/Disease Re-Posted Aug 12, 2022 by Martin Armstrong

The Biden Administration declared a public health emergency over monkeypox. This is not an airborne virus, and it is fairly difficult to catch as skin-to-skin contact is the primary method of transmission. The woke media does not want this fact released, but the Centers for Disease Control and Prevention (CDC) has found that 99% of all cases were found in men, and 94% have had male sexual encounters.

Additionally, nearly 20% of gay men who fell ill admitted to having 10 or more partners in the three weeks before symptoms began. About 40% of those who fell ill reported having two to four partners, while 14% reported having five to nine partners. Around 38% admitted to participating in group sex.

This is more of a sexually transmitted disease and should be presented to the public as such. CDC guidance:

“Public health efforts should prioritize gay, bisexual, and other men who have sex with men, who are currently disproportionately affected, for prevention and testing, address equity, and minimize stigma, while maintaining vigilance for transmission in other populations.”

There is no need to stigmatize people for their sexual preferences or repeat problematic misinformation that spread during the 80s during the AIDS epidemic. However, there is no need to scare the general public into thinking that monkeypox is easily transmissible. If they care about health (they don’t), then they should be honest about the virus and educate the demographic mainly at risk.

Aug 12 2022

Sleepwalking into Our Own Demise


Armstrong Economics Blog/Understanding Cycles Re-Posted Aug 12, 2022 by Martin Armstrong

COMMENT: I was there on the staff of _____________ when you were on Capitol Hill. It was Dick Army who told you he could not support Bill Archer’s retail sales tax because when the Democrats gained power we would have a retail sales tax and an income tax. I found your piece on Europe sleepwalking into its own demise. I’m sure you remember me, but it was Dick Army who said you knew about cycles and the tax reform would fail. You have been saying longer than I can remember that the euro would fail and that the WEF’s dreams were unrealistic. Now with the raid on Trump, it seems that the conspiracy theories that the DOJ, FBI, CIA, and NSA all conspired to make sure he would lose in 2020 are perhaps once again surfacing. When do the cycles point to this madness erupting?

Been reading you for years.

Thank you so much for your views.

SH

REPLY: Nothing is ever permanent. There is a cycle to everything. These people who think that they can remove Xi in China and Putin in Russia and the people will rejoice and celebrate American troops marching down the streets of Moscow and Bejing in some ticker-tape parade are not just unrealistic, they are the instrument of our destruction. This was the same theory behind removing the dictators in the Middle East. They just talk to each other and convince themselves that their ideas are correct and then act on them. I warned back then that it was a different culture and deeply divided in religion. They wanted to believe they were right and refused to listen to any opposing view. This is the very same thing. Anyone familiar with history knows that there will be no smooth transition and you cannot control the advancement of technology. Only CURIOSITY and FREEDOM provide that key element and Klaus Schwab is a control freak and he thinks he can direct his 4th Industrial Revolution. He will destroy the world economy just as the central planning did in Russia.

We have entered a very dangerous era. There is no better example from history than that of the fate of Julius Caesar. I explore you to read Anatomy of a Debt Crisis. This is the key to the background of even why Caesar crossed the Rubicon and why they assassinated him. He too was draining the swamp. This is also why they are attacking Trump everywhere they can. You have democratic AGs in states trying to put him in prison. This is all about desperately trying to prevent his return. What they do not understand, was the fact that I had been asked to try to talk Trump out of running in 2024 and if I would advise DeSantis. I declined. But the point was that the Republicans did not want Trump to run for they thought he was too controversial. This raid on his house has now caused a rally to his side. Now the people KNOW he is not one of them in Washington. Even many Republicans have been silent about this raid.

It is true that Julius Caesar crossed the Rubicon on January 10, 49 BC (49.02) to purge the corruption in the Republic, but corruption resurfaced. Because he forgave his enemies, they conspired and assassinated him on the Ides of March 44 BC (44.20), just 4.82 years later (250.6 weeks, 62 months). That resulted in another civil war. Even Brutus issued coins announcing roundly that he killed caesar on the Eid Mar (Ides of March 15th). This shows his delusion that he really thought the people would cheer him, but he was wrong. He and the other assassins fled Rome for the people did not support the Senate which was too corrupt as we now have in Washington.

Following the defeat of Mark Antony and Cleopatra at the Battle of Actium in 31 BC, because Cleopatra was trying to use sex to conquer Rome, the people even turned against Mark Antony. Octavian became emperor officially with the title Augustus on January 16, 27 BC (27.04) after the defeat of Egypt. The coins issued by Octovian proclaimed Egypt was Captured – not that they defeated Mark Antony since he was a Roman.

The Julian Claudian dynasty ended with the death of Nero on June 9, 68 AD (68.43), lasting 95.47 years in its entirety. Thus, there is never a permanent new era. There are cycles to everything, and forming the EU was also not something that would endure for 1,000 years and more than the Julio-Claudian Dynasty of Rome. This is also true of the United States. We have run the course for a Republic and we will face tremendous upheavals in the years ahead into 2032. There is even a risk that there may not be a 2024 presidential election. That would mean a collapse of the Constitutional government. Yet there are also people suggesting that Pelosi flew to Taiwan because Biden will step down and Harris would step aside meaning that Pelosi would become president until the end of the term in 2024.

There are many fools who really think this New World Order will magically unfold and the dreams of Schwab will be realized at last. There is absolutely NO evidence one may find from history that would EVER suggest that there will be an orderly transition to some new economic system. It has NEVER happened even once in 6,000 years of history. The sanctions imposed on Russia that justified confiscating private assets have not just violated international law, it has divided the world economy and put an end to globalization. By any way we slice this, the foundation of Western ethics and economy has come to an end. We must begin to prepare for a new form of government post-2032. We are indeed sleepwalking into our own destruction of everything that was built post-WWII.

Aug 12 2022

Watch for Falling Anvils, The Washington Post Claims FBI Raid Was Looking for Super-Secret Nuclear Intel in Mar-a-Lago


Posted originally on the conservative tree house on August 11, 2022 | Sundance

They should have gone with the aliens angle.  I said earlier today after watching the frozen-faced, nervous teleprompter reading from AG Merrick Garland, that Main Justice and the FBI had completely embarrassed themselves and likely came up empty in their raid on Mar-a-Lago.

The reason is simple, when you put a tribe of rabid leftists together in a room long enough, they will collectively concoct the goofiest plans in an effort to advance their quests.  The DOJ and FBI lawfare tribe are no different.  The Washington Post is now claiming the FBI raid on Mar-a-Lago was connected to some “nuclear information” in Donald Trump’s possession.

As the theory is presented, Donald Trump and Kim Jong-un were speaking in coded language about rockets and missiles.  President Trump called Chairman Kim “little rocket man”, and said the USA had bigger missiles.

Contemplate that type of insufferably innocuous nonsense long enough and in desperation it evolves into a plan to claim a national security threat might exist.  Quick, grab Boris and Natasha and raid the estate…. but watch for dropping Acme anvils.

WASHINGTON – Classified documents relating to nuclear weapons were among the items FBI agents sought in a search of former president Donald Trump’s Florida residence on Monday, according to people familiar with the investigation.

Experts in classified information said the unusual search underscores deep concern among government officials about the types of information they thought could be located at Trump’s Mar-a-Lago Club and potentially in danger of falling into the wrong hands.

The people who described some of the material that agents were seeking spoke on the condition of anonymity to discuss an ongoing investigation. They did not offer additional details about what type of information the agents were seeking, including whether it involved weapons belonging to the United States or some other nation.

[…] Material about nuclear weapons is especially sensitive and usually restricted to a small number of government officials, experts said. Publicizing details about U.S. weapons could provide an intelligence road map to adversaries seeking to build ways of countering those systems. And other countries might view exposing their nuclear secrets as a threat, experts said. (read more)

Yeah, yeah, that’s the ticket. Comrade Donald and Comrade Melania were building an atomic missile in the Mar-a-Lago basement in order to advance their insurrection efforts.

Good grief.  Can these Deep State stenographers even hear themselves as they type?

I am more convinced than ever they DOJ/FBI were on a fishing expedition, looking for something, anything, that could compromise Donald Trump legally.  They came up empty, and now the entire world is looking at the way the FBI acted.  The DOJ is stuck grasping for any justification -regardless of how silly it is- in order to extricate themselves from the mess they created.

It has to be something super serious in order to justify the extreme nature of the raid itself.   Probable cause likely came down to aliens or nuclear missile technology…  they chose the latter.

‘Quick Melania, before we go to New Jersey, put the nuclear missile plans in your sock drawer.’

[…] “If that is true, it would suggest that material residing unlawfully at Mar-a-Lago may have been classified at the highest classification level,” said David Laufman, the former chief of the Justice Department’s counterintelligence section, which investigates leaks of classified information. “If the FBI and the Department of Justice believed there were top secret materials still at Mar-a-Lago, that would lend itself to greater ‘hair-on-fire’ motivation to recover that material as quickly as possible.”

(WaPo Link)

Aug 12 2022

Bidenflation Making Mexico Great Again, Retails Sales Up 30% in Mexico as U.S. Shoppers Cross Border to Save Money


Posted originally on the conservative tree house on August 11, 2022 | Sundance 

The price differential is remarkable.  In this report from NewsNation, they follow Americans who travel to Mexico for their essential purchases.  Not only is gasoline over a $1/gal cheaper, but everyday essential items are significantly lower.

Retailers in the video highlight an increase in sales of 20 to 30% from cross border shoppers. Biden’s economic plan is Making Mexico Great Again.  WATCH:

https://youtube.com/watch?v=vmYwLoXD9h0%3Ffeature%3Doembed
Aug 12 2022

DOJ Files Motion to Unseal FBI Trump Raid Search Warrant and Property Seizure Receipt


Posted originally on the conservative tree house on August 11, 2022 | Sundance

Yesterday, President Trump requested from the court that the (1) DOJ affidavit underlying the probable cause as well as the (2) search warrant and (3) property seizure report be made public following the FBI raid on his home in West Palm Beach, Florida.

Today, Attorney General Merrick Garland stated publicly the DOJ has filed a court motion to unseal the search warrant and the property seizure report; however, they would not release the probable cause affidavit.  Here is the DOJ court filing [DOCUMENT LINK]

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Notice the DOJ filing is from the DOJ-National Security Division (DOJ-NSD).

The DOJ-NSD, was created by AG Eric Holder as the epicenter of DOJ political activity.  The DOJ-NSD held no inspector general oversight; it is a subsidiary targeting mechanism within the DOJ that originates issues related to the FISA court and other issues of “national security”, which allows Main Justice to have a star chamber of secret operations away from oversight or public scrutiny.

The original Trump-Russia targeting was triggered from within the DOJ-NSD.  The Carter Page FISA warrant, and all subsequent activity connected to the FISA court, come from the DOJ-NSD.

It is the combination of the DOJ-NSD and FBI Counterintelligence Unit, where we find every person and operation connected to the political targeting operations of Main Justice.  Domestic political targeting is done within this subsidiary branch of the justice dept.

Aug 12 2022

Part 4, What Was in The Trump Documents Creating Such Fear in DOJ and FBI


Posted originally on the conservative tree house on August 11, 2022 | Sundance

In Part One we outlined the background of the modern Deep State {Go Deep}. In Part Two we outlined the specifics of how President Trump was targeted by political operatives using tools created by the DC system {Go Deep}.  In Part Three we outlined how and why President Trump was blocked from releasing documents {Go Deep}.  Here in Part 4, we begin to assemble the specifics of what documents likely existed in Mar-a-Lago.

It is important to remember, the presidential records act –the presented pretext for the document conflict– is not a criminal statute.  An FBI raid cannot be predicated on a document conflict between the National Archives and a former president.

The DOJ-NSD warrant, and the subsequent raid on Mar-a-Lago can only be related to records the U.S. government deems “classified” and material vital to national security interests.  Hence, DOJ National Security Division involvement.

In prior outlines we have exhaustively covered the details of President Trump’s desire to publicly release information about DOJ and FBI conduct in their targeting of him during the fabricated Trump-Russia claims.  However, to understand the nature of the documents he may hold, we first review the declassification memo provided by President Trump to the DOJ upon his departure from office.

In broad terms there are two sets of documents that intermingle and are directly related. First, documents that highlight the activity of Hillary Clinton’s team in creating the false Trump-Russia conspiracy theory (2015/2016).  Second, documents that highlight the activity of government officials targeting Donald Trump within the same timeframe (Crossfire Hurricane), that continued into 2017, 2018 and 2019 (Robert Mueller).

Think of the two sets of documents as evidence against two teams working in synergy.  Team one (Clinton) was outside government. Team two (DOJ/FBI) was inside government.  The documents pertain to both groups but are also divided.  That helps to explain the wording of the memo above.

The documentary evidence against the outside group (Clinton et al) would also involve government documented evidence as the DOJ/FBI inside group interacted with them.  Notes from interviews, materials provided, FBI 302 summaries of interviews, etc.

We can extract a lot of information on the first sets of evidence from the lawsuit filed by President Trump in March of this year, mostly against the outside actors. [LINK HERE]

The lawsuit was filed against specific persons and most of those persons were interviewed by the FBI as part of the originating investigation.  Within the subjects of the lawsuit we find names and groups including:

Hillary Clinton, Hillary for America Campaign Committee, DNC, DNC Services Corp, Perkins Coie, Michael Sussmann, Marc Elias, Debbie Wasserman Schultz, Charles Dolan, Jake Sullivan, John Podesta, Robby Mook, Phillipe Reines as well as Fusion GPS, Glenn Simpson, Peter Fritsch, Nellie Ohr, Bruce Ohr, Orbis Business Intelligence, Christopher Steele, Igor Danchenko, Neustar Inc., Rodney Joffe, James Comey Peter Strzok, Lisa Page, Kevin Clinesmith and Andrew McCabe.

In addition to being named in the lawsuit, many of those names were interviewed by the FBI as part of the origination of the Trump-Russia investigation, and/or part of the ongoing investigation of the Trump-Russia fabrication. Each of those interviews would carry an FD-302 report summarizing the content of the interview, the questions and answers given.

The totality of those 302 documents is a lot of evidence likely consisting of hundreds of pages.

For the government officials on the inside, in addition to 302’s (ex Bruce Ohr) there would be documents of communication between them.

Think about the full unredacted text messages between Lisa Page and Peter Strzok as an example.  The DOJ publicly released over 600 pages of those text messages, and that wasn’t all of them.  The text messages were also redacted, under claims of privacy and national security.  We can assume any version of these text messages declassified by President Trump would not be redacted.  Hence, you go back to the January 20th memo and see the notes about “privacy.”

We also know there are many pages of communication between DOJ lawyer Lisa Page and her boss in the FBI Andrew McCabe.  Almost none of them were ever made public; but they exist.  This internal communication is likely the type of material contained in both the “binder,” left for the DOJ to release, and the boxes at Mar-a-Lago to be used as evidence against the named defendants in the lawsuit.

Bruce Ohr has 302’s and emails relating to his involvement as a conduit between Fusion GPS and the FBI.  Some of those were released in redacted form, and some of them were never released.  Additionally, Nellie Ohr, Bruce’s wife, who worked at Fusion GPS invoked spousal privilege when called to testify before the House committee investigating the issues.  However, it is almost certain the FBI interviewed her so there are likely 302’s on Nellie Ohr.

Chris Steele, Igor Danchenko and Rodney Joffe were also interviewed by the FBI.  Those 302’s were never released.  Presumably John Durham has stakeholder equity in that part of the Trump-Russia hoax, but the documentary evidence prior to January 20, 2021, that exists outside the special counsel could also be records at Mar-a-Lago.

Then we get to the big stuff…. The records and evidence in unredacted and declassified state, that would drive the DOJ-NSD to claim vital national security interests.

The NSA compliance officer notified NSA Director Admiral Mike Rogers of unauthorized use of the NSA database by FBI contractors searching U.S. citizens during the 2015/2016 presidential primary.  That 2016 notification is a classified record.

The response from Mike Rogers, and the subsequent documentary evidence of what names were being searched is again a classified record.  The audit logs showing who was doing the searches (which contractors, which agencies and from what offices), as noted by Director Rogers, was preserved.  That is another big-time classified record.

In addition, we would have Admiral Rogers writing a mandatory oversight notification to the FISA court detailing what happened.  That’s a big and comprehensive classified record, likely contained in the documents in Mar-a-Lago… and then the goldmine, the fully unredacted 99-page FISA court opinion detailing the substance of the NSA compromise by FBI officials and contractors, including the names, frequency and dates of the illegal surveillance.  That is a major classified document the Deepest Deep State would want to keep hidden.

These are the types of documents within what former ODNI John Ratcliffe called “thousands of pages that were declassified by President Trump,” and given to both John Durham and Main Justice with an expectation of public release when the Durham special counsel probe concluded.

In short, President Trump declassified documents that show how the institutions within the U.S. government targeted him.  However, the institutions that illegally targeted President Trump are the same institutions who control the specific evidence of their unlawful targeting.

These examples of evidence held by President Donald Trump reveals the background of how the DC surveillance state exists.  THAT was/is the national security threat behind the DOJ-NSD search warrant and affidavit.

The risk to the fabric of the U.S. government is why we see lawyers and pundits so confused as they try to figure out the disproportionate response from the DOJ and FBI, toward “simple records”, held by President Trump in Mar-a-Lago.   Very few people can comprehend what has been done since January 2009, and the current state of corruption as it now exists amid all of the agencies and institutions of government.

Barack Obama spent 8 years building out and refining the political surveillance state.  The operators of the institutions have spent the last six years hiding the construct.

President Donald Trump declassified the material then took evidence to Mar-a-Lago.  The people currently in charge of managing the corrupt system, like Merrick Garland, Lisa Monaco, Chris Wray and the Senate allies, are going bananas.  From their DC perspective, Donald Trump is an existential threat.

Given the nature of their opposition, and the underlying motives for their conduct, there is almost nothing they will not do to protect themselves.  However, if you peel away all the layers of lies, manipulations and corruption, what you find at the heart of their conduct is fear.

What do they fear most?…

…..THIS!

People forget, and that’s ok, but prior to the 2015 MAGA movement driven by President Donald J Trump, political rallies filled with tens-of-thousands of people were extremely rare; almost nonexistent.  However, in the era of Donald J Trump the scale of the people paying attention has grown exponentially.  Every speech, every event, every rally is now filled with thousands and thousands of people.

The frequency of it has made us numb to realizing just how extraordinary this is.  But the people in Washington DC are well aware, and that makes President Trump even more dangerous.  Combine that level of support with what they attempted in order to destroy him, and, well, now you start to put context on their effort.

The existence of Trump is a threat, but the existence of a Trump that could expose their corruption…. well, that makes him a level of threat that leads to a raid on his home in Mar-a-Lago.

[Support CTH Here]

Aug 11 2022

Vaccine Mandates Illegal in Costa Rica


Armstrong Economics Blog/Disease Re-Posted Aug 11, 2022 by Martin Armstrong

Newly elected President Rodrigo Chaves has outlawed vaccine mandates. “Today vaccines are no longer mandatory and any action against someone who does not want to be vaccinated is a violation of the law,” the president stated. Although the president is vaccinated, he stated that was a health decision he personally made. It is now against the law in Costa Rica to force someone to be vaccinated against their will.

The president lifted numerous COVID restrictions when he came into power this May. He began by eliminating the mask mandate for everyone who does not work in healthcare. The Association of Physicians and Surgeons of Costa Rica, the Association of Pharmacists of Costa Rica, and the National Medical Union of Costa Rica spoke out against the president’s order to lift masks. He set out to lift the vaccine mandate in May too, but finally signed it into law this August.

This is another win for medical autonomy and a nation refusing to prolong the COVID fear-mongering propaganda that decimated the global economy.

Aug 11 2022

FBI Director Chris Wray Claims Victim Status, Any Agency Targeting is “Deplorable and Dangerous”


Posted originally on the conservative tree house on August 10, 2022 | sundance 

FBI Director Christopher Wray gave remarks in Omaha, Nebraska today. He was questioned about reaction to the FBI raid on President Trump’s home and noted threats circulating online against federal agents and the Justice Department are “deplorable and dangerous.” “I’m always concerned about threats to law enforcement,” Wray said. “Violence against law enforcement is not the answer, no matter who you’re upset with.”

Director Wray also noted that FBI agents should be “valued and cherished” for their willingness to “put their lives on the line” to protect the institutions of government. On other matters, Director Wray declined to answer questions about the nine-hour search conducted Monday by FBI agents of Trump’s Palm Beach, Florida home. Instead deflecting any questioning to the U.S. Department of Justice. WATCH (2 mins):

https://youtube.com/watch?v=bzyJERBopuk%3Ffeature%3Doembed

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This is the same agency that refused to prosecute any FBI agents involved in the cover-up operation to protect rapes of U.S. female gymnasts, and the same FBI agency who conducted a four-year corrupt investigation of false Trump-Russia accusations manufactured by Democrat political operatives.

The collapse of institutional credibility has nothing to do with deplorable Americans and everything to do with their own conduct.  As noted recently by Senator Chuck Grassley:

“If these allegations are true and accurate, the Justice Department and FBI are – and have been – institutionally corrupted to their very core to the point in which the United States Congress and the American people will have no confidence in the equal application of the law. Attorney General Garland and Director Wray, simply put, based on the allegations that I’ve received from numerous whistleblowers, you have systemic and existential problems within your agencies.” (LINK)

Aug 11 2022

Inflation Moderates in July with Drop in Energy Prices, But Look Closely Food Prices are About to Skyrocket


Posted originally on the conservative tree house on August 10, 2022 | sundance 

The Bureau of Labor Statistics (BLS) has released the July inflation figures known as the Consumer Price Index (CPI) [DATA HERE]. I’m not going to spend much time on the review because the big picture results are exactly what we expected, the appearance of a false inflation plateau, drop and/or moderation of inflation.

The July energy prices dropped significantly driven by a reduction in consumer demand for gasoline and fuel oil, which lowered prices.   We can expect a very similar outcome in August (report in Sept).

Most financial and economic media are reporting an “unexpected” drop in inflation, ex:

“Prices that consumers pay for a variety of goods and services rose 8.5% in July from a year ago, a slowing pace from the previous month due largely to a drop in gasoline prices. On a monthly basis, prices were flat as energy prices broadly declined 4.6% and gasoline fell 7.7%. That offset a 1.1% monthly gain in food prices and a 0.5% increase in shelter costs. {link}

Most econ people will look at the price drop sectors and accept that consumer spending on durable goods and non-essentials has become a downward price point on key categories like vehicles etc.

This is the ‘stag’ part of the ‘stagflation’ (economy), or the new lingo; the ‘dis’ part of the ‘disinflation’ (consumer spending).

For the middle-class or working class, especially those families with young children, I would shake all those data points away, clear the table and look more closely at [BLS Table-2] to see where our eyeballs should be focused.

Look closely at all food group products that originate as “ROW CROPS” and/or “GRAIN”.   Just by looking at the current rate of price increase, you can easily see that all grain and row crop outcomes are going to explode in price in around 60 to 90 days.

The wholesale food supply chain is starting to price-in the future cost at market for products that have yet to be harvested.  Remember, ‘row-crops’ and ‘grains’ are the most energy intensive farming and carry the highest rate of energy use in the process, including fertilizer and diesel prices.  Row crops also carry the highest labor rate to harvest.

When you look at row crops and grains in the Table-2 breakdown of food prices the input price cost is easy to spot.

Annualizing the price outcomes, we see:

Flour at +60% in June and +38% in July.

Bread overall at +19% in June, and +34% in July.

Crackers at 12% in June, and +40% in July.

All grain-based categories are in this +35% to +50% annualized rate.  This is a good rough estimator for what is going to happen in the third wave of food prices we have been discussing.  These are energy cost increases we have to look forward to within current grain harvests.  Additionally, a global shortage of grain will only make this worse.

Eggs are also in this +50% range, and Coffee around +42%.

The same is true for row crops with potato prices in July up +40% (annualized).

SUMMARY:  Energy prices in July, Aug, Sept, moderate yet stay high – giving the false impression of inflation slowing as the overall economy continues shrinking.  However, by the time we get to Sept, Oct, Nov, all of those high farming costs are going to transfer from the field to our forks.  Food inflation in the last quarter of this year is going to be the urgent family conversation that takes the place of gas prices.