Jul 2 2025

MTG On Overturning AI Regulation Ban: “Trump Never Needed The Donors, Neocons, Or The Deep State.”


Posted originally on Rumble By Bannon’s War Room on: July 1, 2025, at 1:00 pm EST

Jul 2 2025

Los Angeles is Broke – City Declares Fiscal Emergency


Posted originally on Jul 2, 2025 by Martin Armstrong 

DeficitQuoteReagan.GovernmentSpending

The city of Los Angeles declared a state of fiscal emergency amid a $1 billion deficit. The council approved of the emergency declaration unanimously in a 14-0 vote. This comes after Mayor Karen Bass approved a $14 billion budget for the fiscal year that began on July 1. The city is a prime example of what happens when socialist policies are allowed to run rampant at the expense of the people.

Bass approved of raising the budget from $12.9 billion in FY2024-25 to $14 billion in 2025-26 despite the looming $1 billion deficit. Unsurprisingly, overspending is the main culprit for the deficit, and yet, lawmakers have every intention of spending more. Over 600 public sector workers will be let go as a result of fiscal mismanagement, and although small government is usually applaudable, the city plans to fire 248 LAPD employees, 44 sanitation workers, and 41 firefighters. LA is experiencing a significant uptick in crime, but plans to defund the police to appease the mobs.

California Governor Gavin Newsom boasts of California’s robust economy but fails to acknowledge that it’s a state basically living “paycheck-to-paycheck,” with the payee being the taxpayer. Read the state’s plan to cover its budget deficits – endless taxes. Spending growth from 2025-26 to 2028-29 is 5.8%, above the average of 3.5%. Growth over the same period is just above 4%, “lower than its historical average, largely due to policy choices that end during the forecast window. Taken together, we view it as unlikely that revenue growth will be fast enough to catch up to ongoing spending.” Even residents who choose or are forced to leave the state will incur taxes to cover government thievery. Los Angeles is one of countless examples of how the public sector will virtue signal to rob Peter, not to pay Paul, but to pay themselves, as they are not hiding the corruption.

governmentspendingtaxes

Liability costs totaled $546 million in the past years, as there have been numerous lawsuits, mainly involving the Los Angeles Police Department, which is forbidden by law to enforce order. The city refused to budget for these growing legal battles. Not only does the city plan to fire officers, but they also reduced hiring by 50% last year, recruiting 240 new officers instead of the 480 needed to patrol the city.

I’ve reported numerous times how California uses the homeless epidemic to fund NGOs that merely steal from the taxpayers. Mayor Bass stated she plans to cut 10% of funding to the “Inside Safe” program. The city has spent millions on combating homelessness, and the numbers continue to rise.

Crime is more expensive than funding the LAPD. Criminals have cost the city of Los Angeles an estimated $7.6 billion annually. Gang violence alone costs the city around $1 billion per year, according to the Vera Institute of Justice, which is half of the annual budget of the LAPD. The California Department of Justice has acknowledged that property crime has risen in recent years and accounts for  60–70% of total losses. Yet, violent demonstrations are permitted to occur whenever Washington enacts a policy that displeases the Democrats.

Blue policies such as the net-zero climate initiative have caused businesses to flee Los Angeles and California as a whole. From 2020 to the present day, over 164 companies have left California. In the last year, 12 major companies like SpaceX, Chevron, X, and KFC have fled CA for TX. Los Angeles shed 106 corporate headquarters between 2018 and 2024, the second-highest number of losses in US metros behind San Francisco/San Jose.

Taxpayers are fleeing the state en masse. State and local taxes are among the highest in the nation and disproportionately harm the middle and upper classes to fund the growing public sector. Energy costs have skyrocketed, with major refiners abandoning California. Gas is expected to rise 75% by 2026, and residents are already paying the highest price for gas in the nation. The cost of living is exorbitant. Those who can have already fled as the government must continue to leech of the taxpayers to fund their failures.

There should be checks and balances against these elected officials who recklessly spend with no end in sight. Downsizing the police force is a political move that will only cause crime and the costs associated with crime to rise. Los Angeles is becoming a failed city as a direct result of socialist policies that have historically NEVER worked.

Jul 2 2025

43% of Americans Near Poverty Place Essential Purchases on Credit


Posted originally on Jul 2, 2025 by Martin Armstrong 

Credit Cards

The PYMNTS Intelligence report “Financial Lifestyles Shape Credit Reliance” revealed that American consumers are struggling to afford the basic essentials. Prices have been elevated since the worldwide pandemic shutdown the global economy and have not gone down in a meaningful way. The study found that 43% of American households who are a paycheck away from poverty cannot afford the essentials without using credit.

The report surveyed 2,298 consumers and categorized them into three financial brackets: those who do not live paycheck to paycheck, those who live paycheck to paycheck comfortably, and those who live paycheck to paycheck and struggle to pay bills.

The 43% of households living paycheck to paycheck with difficulties are eight times more likely to depend on credit cards for the essentials. This group was also six times as likely to rely on credit cards for non-essential purchases. Consumers in this category are placing 41% of all essential purchases on credit and sinking deeper into debt. Around 56% of Americans who do not live paycheck to paycheck are also purchasing essentials with credit, albeit many are using credit cards for points and incentives offered through their credit agencies. Struggling households are far more likely to rely on personal or payday loans, with 31% reporting taking out a loan for the essentials.

“While financially stable individuals may use credit extensively to maximize benefits like rewards, those facing financial strain often depend on it simply to cover essential costs. Understanding the distinct behaviors and needs of the struggling paycheck-to-paycheck consumer is crucial for financial institutions,” the study notes

Those who are not living paycheck to paycheck use credit strategically to maximize incentives and credit scores. Those living comfortably paycheck to paycheck do not face significant financial stress and use credit as a financial mitigation tool. Then there is a segment of the population that needs credit as their lifeline.

Groceries are the top item that Americans are pulling out their cards to buy, with 44.1% reportingly needing to use credit to buy food. Approximately 27.5% reported relying on credit for clothing and accessories, 27% stated they needed credit for monthly bills, 18.6% for vehicle maintenance, and 15.3% for healthcare-related expenses.

America’s middle class has been shrinking for decades. According to Pew Research Center, 61% of adults were considered “middle class” in 1971, but that figure sank to around 51% by 2025. The issue here is that there is an increasing number of households falling into poverty who must rely on the government for essentials. This is what the globalists and Marxists want to see—You Will Own Nothing and Be Happy. Consumer behavior is a telling sign and credit can only be stretched so far until one can no longer borrow. The fact that most are reportingly needing to use credit to afford food indicates that the welfare state is likely to increase, and those costs are passed on to the taxpayers, who then may go from “comfortable” to “struggling.”

Jul 2 2025

Trump Lifts Sanctions on Syria


Posted originally on Jul 2, 2025 by Martin Armstrong 

Syria Map

The United States has officially lifted sanctions on Syria via an executive order signed by Donald Trump. This historic achievement marks the end of a 45-year sanction period enacted back in December 1979 when Syria was declared a state sponsor of terrorism.

“The sanctions were brutal and crippling and served as an important — really an important function — nevertheless, at the time. But now it’s their time to shine … So, I say, ‘Good luck, Syria.’ Show us something very special,” Trump stated on May 13 when he first announced plans to remove sanctions. Trump further stated that he hopes the new Syrian government “will hopefully succeed in stabilizing the country in keeping peace,” which should not be a problem considering the United States installed the current government.

Sharaa.Jihad_

Investments are pouring into Syria, and the nation is officially debt-free. Syria is still in dire condition after its 14-year conflict and is fighting to rebuild its basic infrastructure. The people of Syria are living in atrocious conditions. Over half the nation is food insecure, half cannot access water, and the majority barely have access to electricity. An estimated 90% of the public lives well below the poverty line. GDP plummeted by two-thirds since 2011, and the Syrian pound also fell by two-thirds in 2023 alone.

Before the world cut off Syria through sanctions in 2011, Syria’s GDP was around $61 billion USD. The sanctions coincided with the outbreak of civil war. War produces absolutely nothing and only detracts from an economy. Syria’s economy shrank by 85% in the past 14 years, with GDP reaching a mere $9 billion in 2024.

Lifting sanctions is a massive step toward rebuilding Syria. Nations are eager to pour investments into the nation and begin profiting. All of this is dependent on peace. The US has the right to reimplement sanctions at any time if the current regime loses control.

Jul 2 2025

Ring of Fire Is Becoming Active on Schedule


Posted originally on Jul 1, 2025 by Martin Armstrong 

VOLCANOES Y Array 11 29 22

QUESTION: Marty, your model on volcanoes had correctly forecast this surge in activity in the Ring of Fire for 2025. Do you view this as part of the warning that we are headed into global cooling, rather than warming? Why does the media refuse to highlight all the correct events your computer has been able to forecast when nobody else comes close?

AP

ANSWER: This has been my concern. Climate News just reported: “The Pacific Ring of Fire has witnessed an alarming surge in seismic activity throughout 2024 and early 2025.” I have tried to help society, but those who opposed me cannot even now admit that what they were doing was taking control of the computer by sheer force. I reported back in 2022 that the low would be in 2019, which was the point from which the activity would begin to rise. As you see, we have a string of Directional Changes into 2030. However, take a close look and you will see a Panic Cycle in 2031.

I’m sorry, these climate experts offer personal opinions. It takes an objective viewpoint to see what honestly lies ahead in this journey we call life. The media will never report on what Socrates has done. It would discredit everything they have been saying for years.

Jul 2 2025

President Trump Firm, No More Tariff Extensions Beyond July 8th


Posted originally on CTH on July 1, 2025 | Sundance

There is some interesting information within the video of President Trump aboard AF-1 as he returns from Florida. However, one of the more interesting aspects comes around 05:39 when asked if he was thinking about extending the tariff pause beyond July 8, 2025.

As noted by President Trump, very firmly, no. There is no reason to extend the deadline for reciprocal tariffs beyond July 8th for any country not in direct negotiations as of that date. Trump intends to just send them a letter outlining the applied tariff rate and that’s it. Done is done. WATCH:

This firm date is why India has extended their negotiation team in Washington DC, and is also the reason why Europe is coming Thursday.  The baseline tariffs are done, everyone pays 10% regardless of a FTA or not.  The reciprocal tariff rate will be applied to those without an FTA effective July 9th.

[The EU (who wants a trade deal now) is eventually going to align with Canada (who will need a trade deal later).  This factors into the current trade dynamic and looms over the decision making.]

Post July 9th, President Trump moves on to other important geopolitical matters with the tariffs as an ancillary weapon for adherence to the new international trade alignment.  Those who want to benefit commit to the U.S. dollar as the trade currency (that’s the reason for India’s announcement today), and trade preferences are then used to shake up the geopolitical alignments.  Watch for how this plays out with Trump’s planned UK visit.

From there, and after the gnashing of teeth settles down, later in the summer President Trump then triggers the USMCA renegotiation phase with Mexico and Canada.   President Trump is essentially ambivalent to the pleas from nations who want to continue their trade imbalance.  This sequencing and outline appears clear; but let’s watch and see what happens.

Jul 2 2025

University of Pennsylvania Apologizes for Allowing Lia Thomas to Compete in Women’s Swimming


Posted originally on CTH on July 1, 2025 | Sundance

A huge win for women in sports.  The University of Pennsylvania has completely reversed course and admitted they violated Title IX by allowing transgender male swimmer Lia Thomas to compete as a woman athlete.

PENNSYLVANIA – The U.S. Department of Education announced Tuesday that the University of Pennsylvania has agreed to a resolution with President Donald Trump’s administration to keep biological male trans athletes out of women’s sports, in a statement provided to Fox News Digital.

The department previously launched an investigation into UPenn on Feb. 6 for Title IX violations that occurred in the swimming program. Trans athlete Lia Thomas competed for the women’s team in the 2021-22 season, after previously competing for the men’s team.

“Today, the U.S. Department of Education (the Department) announced the University of Pennsylvania (UPenn) has entered into a Resolution Agreement to comply with Title IX of the Education Amendments of 1972 (Title IX),” the statement read. (read more)

Jul 2 2025

Speaker Mike Johnson Wants Big Beautiful Bill Through House by Independence Day


Posted originally on CTH on July 1, 2025 | Sundance

♦ Some people just can’t take a win.  For the “I need to be outraged” group I would suggest their best time for complaining would be to join the collective association of the tech crew (Musk/Thiel), the alligator emojis (DeSantis/Cruz Crew) and the CONservative free traders (Massie, Paul, Roy).  That group of always unhappy, whining and never satisfied knuckleheads will welcome the griping, bitching and moaning.

However, that doesn’t work here. We have a big win to celebrate.

♦ The Senate version of the previously passed Big Beautiful Bill cuts more spending than originally delivered from the House.  You might ask why then did spending opposition narratives surface now and not when it passed through the House? Good question, we’ll get to that ‘political answer’ in a moment.

For now, the BBB is on track as it was originally planned (by July 4th); albeit right at the outer limits of the predicted timeframe that was announced in January.

[SOURCE]

The Senate BBB passed on a 50-50 vote split, highlighting it was the most conservative bill that could possibly squeak through the Senate.  It is the culmination of MAGA interests -vs- MAGA opposition, with the biggest win being the $70 billion for border security and ongoing deportation operations.

The original plan was always to use rescission bills to cut out the DOGE waste. Per Senate rules, the rescissions/cuts cannot be done until after the initial funding bill is passed (that’s BBB). Timeline: July – BBB, Aug – Rescission bills to cut DOGE waste {examples}, and Sept – FY 2026 Budget bill which begins October 1st.

Additionally, the narrative about the Senate bill including Medicaid spending for illegal aliens is false.

♦ The ban on Medicaid for illegal aliens is actually stronger than initially thought [See page 602. Section 77109].  As noted by Senator Schmidt, “the bill actually goes much further than the house version – beyond banning Medicaid for 1.4 million illegal aliens, it: • Requires states to verify citizenship status before providing coverage • Bans automatic Medicaid enrollment for children of illegal aliens • Excludes DACA from Medicaid.”

♦ This brings me to the “political opposition” aspect.

The declared “spending opposition” to the bill is actually a cover narrative for those who demand expanded immigration (Wall Street) and stand against border control and deportation.

They are angry about the immigration enforcement aspect but must remain quiet about it because so many Americans support the border security part.  So, the CONservatives and Tech bros attack based on spending, but that’s really just a Mick “Cantaloupes” Mulvaney maneuver.

In addition to destroying the “Green New Deal” fiasco, the Big Beautiful Bill gives $70 billion to President Trump to secure the border and get rid of criminal illegal aliens. The border security money is needed to exit the illegal aliens who Obama/Biden imported.  Money for more ICE agents and repatriation flight costs.

The border wall needs to be finished and all measures to ensure the total lockdown. Trump is securing the border, the first step in any immigration reform effort.  This was Ronald Reagan’s biggest mistake.  If congress now wants to discuss what comes next after the criminal illegal aliens & Biden illegal aliens are removed…. with a secure border, that conversation is now possible.

♦ Spending?  Congress and the media have a vested interest in hiding the truth from the American public because factually everything in the BBB is fully funded.   I know, I know, many people are saying, “wait, fully funded? How is that possible?”

Here’s the part everyone keeps missing.  Within the global trade reset President Trump has established a baseline 10% tariff. That means from this moment until the end of time every country will pay a minimum of 10% tariffs on every single import. Even if they get a free trade agreement (FTA) with the U.S. the baseline 10% remains, just like the U.K. deal recently completed.

Yes, steel and aluminum and other targeted tariffs may exceed the baseline 10%, but the baseline will always remain at 10% for everything imported.  There will never be an item delivered to the USA that does not include a 10% baseline tariff.

That baseline 10% tariff revenue -in perpetuity- funds the BBB spending and all of the associated middle-class tax relief within it.  Tariff revenues create a neutral state of spending impact.  This fact is why and how the White House convinced the House and Senate on the deal.

In material fact, even a future Democrat political apparatus will never be able to discontinue the 10% baseline tariffs because they will be dependent on the revenue generated.  Tariff revenue makes spending possible, that stops Democrats from withdrawing it.  In a way President Trump has lowered the income tax burden by shifting revenue to tariffs.

Elon Musk is a disgruntled Tech Bro who: (A) doesn’t like tariffs; (B) is worried about the new visa reviews and H-1B limits under Marco Rubio; (C) angered about the elimination of his Green New Deal subsidies; and is (D) directly attached to and dependent on China.  Plus, wait to see the value loss in Palantir if Trump and Putin strike a deal. Musk is an evil person.

There is a massive amount of winning within this deal.  Just remember, the better something is the more the opposition will use all the tools and puppets at their disposal to keep you from realizing its value.

CNN asked me “Why is @ElonMusk wrong about the Big Beautiful Bill?”

My answer. pic.twitter.com/lKoNeNTWrz

— James Fishback (@j_fishback) July 1, 2025

Big wins today.

Huge.

We’re only five months in….

Jul 2 2025

Pentagon Stops Some Promised Munitions for Ukraine


Posted originally on CTH on July 1, 2025 | Sundance 

If my data alignment points are accurate, now that the BBB is passed through the Senate we are likely to see some very major geopolitical changes come rushing to the surface.

Keep watching and let’s see if things happen the way we expect.

WASHINGTON DC – The Pentagon has halted shipments of some air defense missiles and other precision munitions to Ukraine due to worries that U.S. weapons stockpiles have fallen too low.

[…] In a statement following the publication of this story, White House Deputy Press Secretary Anna Kelly said that the decision “was made to put America’s interests first following a DOD review of our nation’s military support and assistance to other countries across the globe. The strength of the United States Armed Forces remains unquestioned — just ask Iran.”

Included among the items being pulled back are missiles for Patriot air defense systems, precision artillery rounds, Hellfire and other missiles that Ukraine launches from its F-16 fighters and drones.

The losses will surely be felt on the ground as Ukraine continues to beat back fresh assaults by Russian forces. (read more)

In related news not getting attention, French President Emmanuel Macron had a two-hour phone call with Russian President Vladimir Putin today. [LINK]  Also, Volodymyr Zelenskyy called the president of Azerbaijan today, an ally of Putin [LINK]. Azerbaijan is to Russia as Mexico is to the United States.

July 1, 2025 | Sundance

Jul 2 2025

OMB Director Russ Vaught Breaks Down Major Value of Big Beautiful Bill and Likelihood of Passage


Posted originally on CTH on July 1, 2025 | Sundance

Another facet not discussed in the BBB background is data released by the US Office of Personnel Management showing a reduction of approximately 23,000 federal employees since the Trump administration took office. [LINK HERE] OPM adds that hundreds of thousands will drop from payroll in October 2025. [link]

Office of Management and Budget Director Russel Vought appears on CNBC to discuss the non-pretending facts within the Big Beautiful Bill as it passed through the Senate.  The House now needs to reconcile, support the bill and send it to President Trump’s desk by July 4th.

The key notation from Vought comes at 06:07 of the video below as he explains the BBB is just one facet of a larger cost-cutting initiative (tariff revenue, recission cuts, discretionary spending reductions etc.). WATCH:

.

I’ve got two words for the Musk fanboys, Tech bros, CONservatives, Massie/Paul/Roy fools, and those who clutch pearls on the false budget apoplexy; those two words are not ‘Merry Christmas.’