Tag Archives: Climate groups

Jul 16 2022

Wells Fargo Proactively Cuts Profit in Half to Save Funds for Predicted Loan Losses


Posted originally on the conservative tree house on July 15, 2022 | Sundance

This shouldn’t come as a surprise.  Most banks and financial institutions are being very careful right now as they prepare for the consequences of consumers running out of money.  All banks are securing reserve accounts in anticipation of defaults increasing.

July 15 (Reuters) – Wells Fargo & Co said on Friday its second-quarter profit nearly halved as the bank set aside more funds to cover potential loan losses, while its mortgage lending business came under pressure from higher interest rates.

The fourth-largest U.S. bank reported profit of $3.1 billion, or 74 cents per share, compared with $6 billion, or $1.38 per share, a year earlier. Its total loan loss provisions were $580 million in the quarter, including a $235 million increase due to loan growth.

Under an accounting standard that took effect in 2020, banks must factor the economic outlook into loan loss reserves. Last year, the bank had released $1.6 billion from its reserves for loan losses as the economy rebounded from the pandemic.

Wells Fargo Chief Financial Officer Mike Santomassimo told reporters that retail and business customers remain strong, but the bank is prepared for a potential economic downturn.  “Things will probably get worse, but that’s already included in the overall scenario analysis and the allowance level we have for the quarter,” Santomassimo said.

[…] Big bank executives have sounded cautious so far this earnings season, with JPMorgan Chase & Co’s Chief Executive Jamie Dimon likening the macroeconomic environment to a coming “storm.” (read more)

Jul 16 2022

Cunning Senator Manchin Tricks West Virginia Voters, Senator Stalls $500 Billion Green New Deal Energy Legislation, Democrats Demand Removal from Chair of Energy Committee


Posted originally on the conservative tree house on July 15, 2022 | Sundance 

Joe Manchin didn’t completely torpedo the $500 billion in Green New Deal climate change spending, but he did stall it for a month saying he would not support the climate change spending until he sees July’s inflation numbers in August, which should be a warning.

If you think carefully about it, it’s a classic Manchin head-fake.  The July and August inflation numbers, to be released in August and September respectively, are almost guaranteed to be lower than June.

July/Aug are the two months we are in right now where inflation is hitting a plateau.  Gasoline prices are dropping due to a drop in demand. This is the period before prices start rising again in September and October when the energy farming costs start to roll out with the next harvest.

Senator Manchin isn’t stupid; in fact, he is quite Machiavellian, he knows this… thus, his position.

Manchin can give the illusion of prudence, but he knows the July inflation rate will show a decrease for two reasons.

First, in the month-to-month comparison, July will not carry the same scale of gasoline and energy increases as June.  Second, in the year-over-year comparison, July ’22 will be comparing to July 2021 when prices already started skyrocketing.  Bottom line, July inflation will give the illusion of dropping, which gives Manchin a shield to support the spending…. and he will.

WASHINGTON DC – Joe Manchin is forcing Democrats into a brutal choice: Take a deal now to lower the costs of health care premiums and prescription drugs, or try to negotiate a larger bill in September that includes climate and tax reform with no guarantee it will pass.

The West Virginia Democrat said Friday that he wants to see another month of inflation numbers before considering legislation that might increase taxes on some higher-income Americans and plow hundreds of billionsof dollars into the energy sector. On Thursday Manchin “unequivocally” rejected July or August approval of Democrats’ proposed energy investments and tax increases in a meeting with Senate Majority Leader Chuck Schumer, according to a person briefed on the meeting.

[…] Democrats are reeling after Manchin’s communication to Schumer indicated that climate change and tax provisions are unworkable for any party-line bill considered this summer. Fury is building within the party, with Sen. Martin Heinrich (D-N.M.) questioning whether Manchin should continue to chair the Senate’s Energy committee.

[…] Manchin had sought to shave down an energy package originally set at more than $500 billion to $300 billion or less. He balked privately at sending money to the EV industry and the Direct Payment program. (Read More)

While you won’t see a single MSM analyst, financial pundit or mainstream political commentator point out what Manchin is doing, his strategy is cunning.

Right now, conservatives are calling Manchin a hero for blocking the GND spending while progressives attack him.  This gives the impression that he is a centrist, above the fray, and wise in his outlooks toward the economy and budgeting.   However, it’s a ruse.  Joe Manchin knows, just like you do, that the next inflation report will be much lower.  He is positioning to support the climate change spending in September.

Watch.

Bookmark this.

The scheming strategery of Joe Manchin is as predictable as the scheming strategery of Mitch McConnell.

The two wings of the UniParty duck seem still on the surface.  This type of ploy is exactly how DC is able to operate, paddling forward furiously, just below the surface; and almost no one can see what is happening.

Once you see the strings on the political marionettes, you can never return to that moment in the performance when you did not see them.  However, because too few people see them, almost everyone congregates in the lobby during the mid-term intermission asking, “hey, when did Texas become dependent on windmills?”

Jul 15 2022

Obama Lashes Out at Former White House Physician for Questioning Biden’s Mental Health


Armstrong Economics Blog/Politics Re-Posted Jul 15, 2022 by Martin Armstrong

Rep. Ronny Jackson, R-Texas, a former White House physician under the Biden Administration, was reprimanded by former President Obama for admitting that everyone has been questioning Joe Biden’s mental health for years. “Holding the Line: A Lifetime of Defending Democracy and American Values,” a memoir penned by Jackson, discusses the conversations he had concerning the then vice president’s deteriorating mental state.

“Biden was on TV again, making crazy statements and concerning mental gaffes; he didn’t know what state he was in or what office he was campaigning for,” Jackson noted in reference to his 2020 campaign. “He apparently thought at one point that he was running for the Senate and later couldn’t remember what state he was campaigning in. This had been going on for months and was getting worse.”

Jackson also happens to be the same physician who forced Donald Trump to undergo a cognitive test, which he passed. The media was constantly criticizing Trump for mistakes and he willingly took the cognitive test to put the public at ease.

In the letter posted above, Obama expresses his disappointment at “the cheap shot” Jackson took at Joe Biden. He did not, however, claim that the statements Jackson made were untrue. It is almost impossible to ignore the missteps of President Biden at this point in time, and America has become the laughing stock of the world for putting a senile old man in charge. The Democrats clearly knew that Biden was mentally unfit to run for president but elected him anyway. This man possesses the nuclear codes, executive order powers, and the ability to catapult this country into the Dark Ages.

Jul 15 2022

Two Weeks After Anthony Fauci Finally Agreed No Further Testing on Beagles, Virginia Humane Society Trying to Find Homes for 4,000 Animal Test Beagles


Posted originally on the conservative tree house on July 15, 2022 | sundance 

The Humane Society of Virginia is trying to find homes for 4.000 beagles, exactly two weeks after NIAID Director Anthony Fauci told congress he would no longer use beagles for allergy testing.

These two stories seem connected.

July 5, 2022 – Under fire from foes of federal animal testing, the agency headed by COVID-19 czar Anthony Fauci has canceled a plan to start new tests of allergy medicine on beagles, some as young as 6 months.

In a letter to Sen. Joni Ernst (R-IA) and promoted by the White Coat Waste Project, Fauci said that instead of dogs, the new hay fever drug will be tested on rodents.

“Although the contract to Inimmune Corporation proposed the use of murine and canine preclinical animal models, after consultation with the U.S. Food and Drug Administration, the company elected to proceed using two rodent models only,” wrote Fauci, the director of the National Institute of Allergy and Infectious Diseases. “No experiments utilizing the canine model are being conducted under this contract.”

[…] The letter was a big victory for Ernst and the animal rights group, which had started a popular hashtag campaign against the testing: #BeagleGate. (read more)

Yesterday, this next story surfaced:

July 15, 2022 – CUMBERLAND, Va. — The Humane Society of the United States says it is working fast to transfer thousands of dogs bred for medical research from a facility in Virginia.

On Wednesday, the Humane Society said that over the course of 60 days, they’d be transporting around 4,000 beagles in stages to shelters nationwide so they could be adopted. (read more)

4,000 beagles?

Good grief, is that the scale of Anthony Fauci’s beagle abuse?

Suspicious Beagle is, well, suspicious….

Jul 15 2022

The Biden Economy is So Bad, Even His Gatekeepers Now Admit Biden Has Broken All Records for Bad Economic Outlooks


Posted originally on the conservative tree house on July 14, 2022 | sundance

CNBC is the Biden defense team for media broadcasts of anything related to the economy.  As a result, you know things are bad when CNBC broadcasts that Joe Biden’s economy has the highest level of dissatisfaction in the history of their surveys.

Steve Liesman was given the task again to share the horrible results. WATCH:

Jul 14 2022

Biden on Crack and Mass Incarceration


Armstrong Economics Blog/Corruption Re-Posted Jul 14, 2022 by Martin Armstrong

As if we needed more proof that the elites are beyond the law — disgraceful. Listen to the words coming out of Joe Biden’s mouth juxtaposed to a video of his son weighing crack cocaine in a filthy hotel. The sweet “Uncle Joe” image that Obama created for this man is a lie. As senator of Delaware, Joe Biden implemented strict laws to punish drug addicts, specifically those addicted to crack cocaine. He did this to target African American communities where crack was more prevalent due to a three-letter agencies’ involvement (a post for another time, perhaps).

Biden championed the 100-to-1 crack/powder disparity where those in possession of crack would receive 100 times the penalties for carrying the same amount of powder cocaine. He is the man responsible for the US creating the role of “drug czar,” as he championed being tough on crime throughout his career until he reached the White House.

Biden opened the doorway for civil asset forfeiture in the Comprehensive Crime Control Act of 1984, which gave the government permission to seize the assets of anyone suspected of drug trafficking. Similar to conspiracy, no actual crime needed to be committed.

A report from the American Civil Liberties Union, “Cracks in the System,” found that the 100-to-1 rule disproportionally targeted African Americans and contributed to mass incarceration:

“In 1986, before the enactment of federal mandatory minimum sentencing for crack cocaine offenses, the average federal drug sentence for African Americans was 11% higher than for whites. Four years later, the average federal drug sentence for African Americans was 49% higher.”

Those with minor possession of crack cocaine, much smaller than anything his son has purchased, faced numerous years behind bars without a fair trial and were treated as criminals rather than addicts with a physical and mental health problem. The media wants us to sympathize with Hunter Biden for his rough past, but no one sympathized with the countless people locked away under “Pedo Pete’s” laws. Biden was also responsible for helping Bill Clinton pass the 1994 Violent Crime Control and Law Enforcement Act, which encouraged the death penalty for suspected traffickers and banned certain people from legally possessing weapons. The law most famously included the “three-strike” rule that locked people away for life after three offenses. Bill Clinton later apologized for that ruling, but Joe Biden did not.

What changed Biden’s mind? He has recently come out to decry the harsh rules he implemented and is notoriously light on crime. Well, his daughter Ashley was arrested for marijuana possession in 1998 in Louisiana. Ashley was never convicted of a crime, and her father went on to claim in an ABC interview as far as 2010 that marijuana was a gateway drug. “I still believe it’s a gateway drug. I’ve spent a lot of my life as chairman of the Judiciary Committee dealing with this. I think it would be a mistake to legalize,” then Vice President Joe Biden said.  Let us not forget that he ran campaign ads before the US 2020 Presidential Election to repeal any marijuana-related restrictions that “unfairly targeted minorities.”

Biden is one of the most hypocritical politicians in modern history. He went from championing destroying already ruined lives with unforgiving laws to spending US taxpayers’ dollars on providing addicts with free drug paraphernalia. He defunded police agencies at a time when the opiate epidemic was killing more young lives than ever before. Under the very laws he created, he technically helped his son purchase crack and, therefore, should be investigated, albeit this only scratches the surface of the crimes he has committed through his son.

Hunter Biden and the entire Biden crime family are blatantly above the law. Crack smoking is one of the least offensive activities exposed in Hunter’s laptop from hell. He will never be investigated, and Biden will never feel sorry for the countless lives he has ruined.

Jul 14 2022

NYT Democrat Voter Poll Shows Base Do Not Want Biden Reelected, Biden Leaves Town and California Governor Gavin Newsom Shows up at the White House


Posted originally on the conservative tree house on July 13, 2022 | Sundance 

Democrats are historically known for the optics of their politics.  With that in mind, is it coincidental that California Governor Gavin Newsom, one of the leading people that leftists want to see run in 2024, shows up to tour the White House the day after Joe Biden leaves town?

Considering the recent article from the New York Times outlining how most democrats do not want to see Joe Biden run for reelection, the timing seems rather conspicuous. {Direct Rumble Link} WATCH:

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Gavin Newsom is turning California into Somalia, so it would make sense for him to be the next one in line to continue the chaos.

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(Discussion Poll pdf Here)

Jul 14 2022

The Pretending Continues, Furrowed Brow Edition


Posted originally on the conservative tree house on July 13, 2022 | Sundance

The professionally furrowed brows are forced to admit high prices remain problematic for the proles while retaining the sympathetic pretense.  WATCH:

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Comrade rebels, when things get spicy, I’ve got dibbs on his swimming pool.

Jul 12 2022

Low Poll Joe


Armstrong Economics Blog/Politics Re-Posted Jul 12, 2022 by Martin Armstrong

President Joe Biden’s approval rating is at its lowest level – 29%. A majority of Americans, 58%, flat out disapprove of Biden’s work. Unsurprisingly, only 2% of Republicans approve of Joe, with 97% stating disapproval. Only 19% of Independent voters approve, while 68% do not. Democrats are still trying to justify their vote as 64% still support Joe, despite everything he has done to harm the nation.

The only states that saw a slight majority in their approval rating were former President Obama’s home state of Hawaii (45% approval v 41% disapproval) and Vermont (43% approval v 39% disapproval). He fell out of favor with all other states. Anyone living in the US likely hears disgruntled sentiments on a daily basis. I hear angry mumbles from people every time I visit the pump or walk in the grocery store. Countless people in various professions have written in to state how Biden’s policies have directly hurt their businesses.

These low approval numbers make it less likely to see a 2024 Joe Biden election year, as the Democrats now know they cannot win with him at the helm. We saw Boris Johnson resign by force, but will Joe Biden be next? Even the Fed stated that unemployment must rise for inflation to decline. The situation will become much worse before it gets better. In the meantime, low poll Joe has run out of people to blame for America’s downfall.

Jul 11 2022

The DOJ Wants Illegal Immigrants to Vote


Armstrong Economics Blog/Corruption Re-Posted Jul 11, 2022 by Martin Armstrong

Who will vote for Biden after he destroyed the American economy? Perhaps illegal immigrants from Socialist countries who would have gratitude for even the lowest level of living in this nation. I explained how the election system is rigged with Dominion Voting Systems directly funneling money to liberal candidates and having close ties to George Soros. The Biden Administration wants to ensure that the game is completely in their favor, and now wants illegal immigrants to vote in American elections.

The Biden Administration is actually suing the state of Arizona because the state will require voters to show proof of American citizenship. Was the left not up in arms about other nations allegedly interfering in our electoral process? The Department of Justice claims that House Bill 2492 is illegal under the Civil Rights Act (1964) and the National Voter Registration Act (1993).

Arizona Attorney General Mark Brnovich said that he will not accept the DOJ’s demands. “In addition to free rooms and transportation for those illegally entering our country, the DOJ now wants to give them a chance to vote,” he said to Fox reporters. “It’s another round of Brnovich v. Biden. I will once again be in court defending Arizona against the lawlessness of the Biden administration.”

New York City recently prohibited illegal aliens from voting and the measure has bipartisan support. Even Mayor Bill de Blasio did not fight the ruling. The only politicians seeking to allow outsiders to vote in elections are on the far-left, and it appears that those at the very top of our political system have become extremists in their views.