Moonbat Parseltongue, Secretary Janet Yellen Blames COVID for Inflation Today Because Everything Was Cheaper Last Year


Posted originally on the conservative tree house on June 6, 2021 | Sundance | 109 Comments

Boy I’m glad she decided to take one last question at the end of her G7 Finance Minister press conference, because that one question was the one that mattered…. and it didn’t come from a U.S. journalist (go figure).

In this Q&A with Treasury Secretary Janet Yellen she is asked about massive ongoing inflation and why she is not worried about it from a U.S. monetary policy perspective.  Her reply is jaw dropping.  [Video at 25:10 prompted]

First, note the words used “my personal opinion is“, that’s a key *tell* that she is now shifting from economic discussion into the manipulated words of a U.S. political appointee who is in place to support the absolutely insane policies of the JoeBama administration.   However, what she follows with is beyond absurd… it’s professionally false and filled with gaslighting.

Yellen says the COVID pandemic caused “DEFLATION” in 2020 and we are now circling back to year-over-year comparisons in pricing, and that is creating the illusion of inflation where no inflation exists.  She claims pricing is returning to where it was at pre-pandemic levels.  This is an absolutely absurd statement that every single reader of this site can see, feel and absorb in their own lives.

Her example of Airline prices returning to pre-pandemic levels is devoid of reality.  Airline prices are dramatically escalating because fuel and energy prices have risen 40% or more over the past five months.  When the airline industry was hit by COVID impact, to manage costs they shut down operations – reduced flights, put planes out of commission, eliminated on flight services (food beverages), and downsized their entire industry.  They did not significantly lower prices.

Secondly, Housing prices did not drop…. rents did not lower… mortgage rates did not decrease…  grocery store food prices did not drop (they went up)… “Away from home” food prices did not drop (they stopped or stayed the same),…. the cost of cars, hard goods, durable products, did not drop.  Nothing dropped in price.  Instead the sellers of products and services modified their businesses (or shut down) to adjust to the drop in customers.  Barbers and hair stylists did not lower prices…. nothing dropped.

Businesses did not, DID NOT, lower prices.   If anything, they added surcharges for modifications to their business.

Inflation rates this year have absolutely nothing to do with lower prices last year and “return to normal” prices this year.   She is selling nonsense.

THAT is professional gaslighting from the Treasury Secretary of the United States.  Quite remarkable.

April Jobs Report Shows JoeBama Creating Successful Socialist Utopia – Jobs Gains Stunningly Below Expectations, With Downward Revisions for Feb, March


Posted originally on the conservative tree house on May 7, 2021 | Sundance | 134 Comments

Economic forecasters had predicted one million job gains in April.  The actual results are “stunningly” and “unexpectedly” far below the expectations.  The Bureau of Labor Statistics [SEE HERE] reveals only 266,000 jobs gained in April and downward revisions of March by -146,000.  There are almost 7.4 million jobs available; however, despite the available jobs, no-one is going back to work.

Yes, JoeBama’s “free government money” has created the socialist utopia.

The politically correct economic analysts are shocked that minorities (blacks and latinos) are not going back to work; while ignoring the disincentive that government handouts have created in the JoeBama economy.  The entire dynamic is ridiculous when you consider we should be entering a phase of the jobs economy where vaccination and COVID mitigation should be leading to massive reopenings of the economy overall.

Inside the numbers, the economic sectors showing the worst jobs recovery are directly related to the blue state shut-downs.  Worse yet, there is an underlying scenario showing the economy is not growing despite the ability of businesses to re-open overall.  That spells even more trouble.

(CNBC) – “Today’s report was an enormous surprise and shows the labor market hit a hidden pothole in April,” Glassdoor senior economist Daniel Zhao tells CNBC Make It. “Clearly, the labor market has decelerated quite a bit.”

The 6.1% unemployment rate and 9.8 million people unemployed remained steady in April compared with the months prior. (more)

There is no level of spin that can change the reality of this situation.  JoeBama’s economic policies are exactly the wrong thing to be doing.  Everything, and I do mean every single policy objective, delivered by this administration is AMERICA LAST!

Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1%. Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%. CNBC’s Jim Cramer discusses what he thinks led to the surprising report.

Beijing Beats New York City


Armstrong Economics Blog/China Re-Posted May 6, 2021 by Martin Armstrong

A number of people often send nasty emails because they do not like the forecast that China will become the next financial capital of the world. The forecasts we put out are NOT based upon my OPINION. I simply report what the computer projects. This Great Reset is playing right into our forecast, for they are deliberately destroying the economy so they can “BUILD BACK BETTER,” as they like to say.

The problem is that they are ignorant of world history. The victor in war is NOT simply the person who has the largest army. There must be some advantage and that boils down to economics. The one with the strongest economy is the victor because they have the capacity to fund the war.

This is why barbarians could never invade Rome until the Roman Empire’s monetary system began to collapse following the capital of Emperor VBalerian I in 260AD. Even Alexander the Great was able to take the Persians because they lost their greatest and were unable to defend against a well-supported army. The South lost against the North in the American Civil War because the North was industrial whereas the South was primarily agrarian.

Deliberately destroying our economy so they can “Build Back Better” while creating food shortages and trying to end raising cattle because of CO2, has set the West on the course to economic decline. This has made the West vulnerable just as was the case with the Roman Empire.

Now everyone is starting to notice and even CNBC says that China will surpass the United States by 2028. Granted, the analytical field seems to notice trends of this nature only when it smacks them in their face. We published the report “China on the Rise” back in 2018.

Now New York City, thanks to Socialists who think they can keep taxing the rich without end,   lost its title as the home of more billionaires than anywhere else. Beijing has now taken that title. Some people think my reliance on history is foolish. History repeats because human nature is always the same.

Mainz

New York is dying. It is, in trading terms, a major SHORT! NYC is following the same path as Mainz. It was the city of Mainz where the Gutenberg printing press was invented. This created an economic boom and everyone wanted to be in Mainz. The politicians saw the boom and presumed the potential tax revenue was linear and would be endless – judging tomorrow by today’s trend. They began to borrow against what they anticipated would be there forever. As they needed the interest to pay for borrowing and became addicted to debt, they raised taxes.

The taxes kept rising so they killed the economic boom and people began to leave. Mainz followed the typical path as we are doing today. They were no longer paying off debt. They entered the Ponzi scheme – issued new debt to pay off the old in a revolving bond auction. Taxes kept rising and people migrated. The printing press was no longer unique to Mainz. The rich left town, taking their capital and entrepreneurship with them. When Mainz lost the confidence of the bond buyers and could no longer sell new debt to pay for the old, the collapse unfolded. Mainz, like Detroit, defaulted. The creditors sacked the city and it was burned to the ground.

The same precise pattern unfolds every time – WITHOUT EXCEPTION. Why? Human nature never changes. Create career politicians and they will always seek to expand government for that is their power base. All that is left is a nice monument commemorating Guttenberg. Of course, they never tell the full story of Mainz.

New York City is making all the same mistakes like clockwork. They think people can be exploited without end. There comes a point where it no longer is beneficial to work as a slave. Why invest in anything if those in power simply want to take whatever you invent.

I pray for 2032 to end corruption and drive a stake through the heart of republican forms of government. We need a new path and anyone who calls for exploiting one class to benefit another should be subject to life imprisonment where they can enjoy carefree and tax-free living in a world of equality.

Shortage of Chickens


Armstrong Economics Blog/Agriculture Re-Posted May 5, 2021 by Martin Armstrong

The orchestrated COVID pandemic to change the economy for the BUILD BACK BETTER Great Reset has set in motion food shortages that are now emerging. Farmers have had to plow their crops under, and one had to kill over 30,000 chickens because they simply could not get them to market. Sales of produced collapsed as much as 75% in 2020 compared to 2019 in some areas. Even in Europe, the cold weather has destroyed crops. As I have said, these morons look at the world only in a single dimension. They had no idea that locking people down to lower CO2 meant that they were also cutting off the supply chain in technology to food.

There is a shortage now of chickens, and don’t worry, it will move to beef as well. Add their scheme for a cyber attack, and the future looks really crazy because nobody will lock these people up, no less dare to investigate them. So be warned. This will get far worse post-2024. We should all send a thank you note to Klaus Schwab and Bill Gates for starters.

Fake News Knows What It is Doing


Armstrong Economics Blog/Press Re-Posted May 5, 2021 by Martin Armstrong

COMMENT: I wrote to the ________ news and pointed out that you had a computer model that beat all the models that Gates-funded to use to create these lockdowns. They never responded.

HJ

ANSWER: Oh it is worse than that. One of the top five newspapers in the world wanted to write a story about Socrates and its forecasts with respect to COVID. We spoke, and then two weeks later, the powers from above said NO!

It is not a question of them not being aware. They know precisely about Socrates, yet the powers that be give directions not to cover Socrates, for it goes against the narrative. Perhaps if enough people wrote to Fox or the Hill, they might report something. But they too are afraid of stepping into this mess, for they might drown in a swamp filled with quicksand.