Tag Archives: Climate groups

Jul 11 2022

After-Birth Abortion – Really?


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

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The woman army medic who seems to be fighting for the Constitution clearly has no idea what the Constitution is all about. Here rant which gathered 30,000 likes said:

“I just extended my contract to continue serving this country a week ago. How am I supposed to swear to support and defend the Constitution and a country that treats its women like second-class citizens?” She continued: “How am I supposed to do that? How am I supposed to do that with pride? How am I supposed to do that with love and honor?”

In HARRIS v. McRAE, 448 U.S. 297 (1980), the facade of Roe v Wade was exposed. The case was claiming that the government MUST pay for medically necessary abortions. They made it clear in that decision that the Constitution is NEGATIVE, not POSITIVE. It is a restraint upon government – not a shopping list of positive rights. This medic should resign, leave the country, and go someplace where you can freely kill a two-year-old when they annoy you.

If there was a Constitutional Right to abortion, but a restraint under the 8th Amendment against cruel and unusual punishment, then the solution would be to justify retroactive abortion without limitation so you no longer sentence someone to death, you merely abort their life whenever.

The very law that these people are so upset about was limiting abortion to the first 15 weeks. They seem to want even after-birth abortion. These real fanatics want to call a newborn still a fetus to justify abortion after birth.

“We claim that killing a newborn could be ethically permissible in all the circumstances where abortion would be. Such circumstances include cases where the newborn has the potential to have an (at least) acceptable life, but the well-being of the family is at risk.”

Why not just kill a child at any age when it threatens the “well-being of the family” if there is even a family that remains under this definition. There has always been justification for abortion when the life of the mother is at risk, or rape, or incest. But not any of these justify after-birth abortion. Sorry, but I don’t see how they would be good mothers and the solution should be sterilization – Gates would love it!

Jul 11 2022

Used Car Repossession Rates Double for Both Sub-Prime and Prime Borrowers, Indicates Trouble on Main Street


Posted originally on the conservative tree house on July 10, 2022 | Sundance

Barrons has an interesting article on an increase in bank auto repossession rates connected to defaults [see here].  Essentially, used car prices have surged significantly and the timeline seems to indicate the temporary covid-19 stimulus spending had a lot to do with the increase in demand.

According to data assembled by CoPilot, used cars are currently priced approximately 10,000 higher than they would be without any pandemic related influence, supply side or demand side.  Banks and financial institutions loaned money into the climbing market price.  However, the artificially inflated car prices now create a bubble where the liability on the books is significantly higher than the repossessed asset is worth.

A higher rate of auto loans are now defaulting for both sub-prime and prime borrowers (double for both), indicating the former buyers are under financial pressure and can no longer make their car payments.  The loan to value ratio was as high as 140% when the banks made the loans, a more traditional or normal ratio is 80%.

The banks have a vested financial interest in limiting the number of repossessed vehicles they allow into the used car auction market in order to keep the book value of the cars as high as possible.  Those banks and financial institutions have recently rented more storage space for the vehicles being repossessed.

Barrons – […] Lucky Lopez is a car dealer who has been in the business for about 20 years. In recent meetings with bankers, where he bids on repossessed vehicles before they go to auction, he has noticed some common characteristics of the defaulted loans. Most of the loans on recently repossessed cars originated during 2020 and 2021, whereas origination dates are normally scattered because people fall on hard times at different times; loan-to-value ratios, or the amount financed relative to the value of the vehicle, are around 140%, versus a more normal 80%; and many of the loans were extended to buyers who had temporary pops in income during the pandemic. Those monthly incomes fell—sometimes by half—as pandemic stimulus programs stopped, and now they look even worse on an inflation-adjusted basis and as the prices of basics in particular are climbing. (read more)

Somehow, I would hazzard a guess, if we are to follow recent precedent, that taxpayers are going to end up backstopping the financial institutions when the bubble in this asset class pops.  However, that said… the scale of these loan defaults could also foretell a significant slipping in the housing market.

…”There will not be a recession”…

Jul 11 2022

Sunday Talks, Stunningly Disconnected Commerce Secretary Gina Raimondo: “We Have Inflation Now Because of a Lack of Supply”


Posted originally on the conservative tree house on July 10, 2022 | Sundance 

Unfortunately, (a) she’s not talking about energy or oil production/supply; and (b) she believes it.

Commerce Secretary Gina Raimondo, a comprehensively incompetent and unqualified person selected to run the commerce department, blames, without hesitation, a “fundamental lack of supply” for the cause of U.S. inflation [04:38].  She’s not pretending, Raimondo genuinely believes this.

I have struggled with the question of whether it’s incompetence or intentional ideology that drives some of these cabinet members to say stupid stuff.  In the case of Commerce Secretary Raimondo, it is clearly incompetence.  In order to believe that a lack of supply is driving inflation; which is not coincidentally the same demand-cause opinion held by the federal reserve; a person has to ignore the dozens of key economic indicators that show consumer demand has contracted, inventories are climbing, and orders to manufacturers have dropped.

Even Samsung, one of the largest producers of electronics sold in the United States, has told all their suppliers to stop sending the component goods used to manufacture their products because orders for finished goods have plummeted.  Hell, consider this…. THE COMMERCE DEPARTMENT, yes, that’s right, the Department that Raimondo is in charge of, has collected the data showing RETAIL SALES have DROPPED.  Yet here she is blaming a lack of supply for inflation.  WATCH:

It is not a lack of supply driving supply side and producer inflation. It is the massive increase in material, processing and transportation costs associated with Biden’s energy policy that are impacting supply-side inflation.   Demand has contracted, inventories are climbing, manager orders have plummeted, and consumers are squeezed.  Yet this knucklehead thinks recession is unlikely.

Gina Raimondo was also on Meet The Press, with another knucklehead, Chuck Todd.

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Jul 10 2022

Wharton Finance Professor Looks Deeper into June Jobs Data, Outlook Not So Good – Hours Worked Dropped Equivalent to 450,000 Lost Jobs


Posted originally on the conservative tree house on July 8, 2022 | sundance

University of Pennsylvania, Wharton School of Business, Finance Professor Jeremy Siegel, takes a closer look at the June jobs data from the Bureau of Labor Statistics.  Professor Siegel notes a .01% drop in average hours worked is the labor equivalent of losing 450,000 jobs.

With factory demand dropping, and with inventories climbing, and with FTE’s (Full-Time Equivalents) dropping, the jobs report takes on additional context that aligns with the overall decline we feel in Main Street activity.  Essentially, regardless of how many jobs are “created” within the economy, the overall economic activity -as measured by the value of products & services generated- is declining.

Additionally, as noted by Professor Siegal, the current best estimate as reviewed by the several data points, is a current drop in overall GDP in the -2% range.   Seigal points this information out because the Federal Reserve is raising interest rates into an economy that has declining (demand side) consumer activity, which, correctly as he states, only makes the contraction more severe.  WATCH:

The core supply side costs (all based on energy policy) continue to increase and drive consumer prices upward.  Simultaneously, consumer demand is dropping because the goods and services impacted by the increased costs (most of which are unavoidable) are more expensive.  This creates a downward spiral.  Consumer prices are increasing on housing, energy, food and gasoline (supply side impacts), at the same time discretionary spending contracts.

In this scenario there is no way to avoid a steep recession.  However, the real priority of Joe Biden surrounds whether Jill will allow his favorite pudding, and if the shoes on the pancake mix keeps making sparkly rabbit noises.

Jul 9 2022

Joe Biden Pledges to Retain the Killing of Unborn Babies as National Priority, Signs Executive Order Saying Abortion “is essential to justice, equality, and our health, safety, and progress as a Nation”


Posted originally on the conservative tree house on July 8, 2022 | sundance

Earlier today Joe Biden held an official ceremony promoting the killing of unborn babies as a legacy initiative of his administration. Biden signed an executive order [View Here] stating that abortion “is essential to justice, equality, and our health, safety, and progress as a Nation.”

{Direct Rumble Link} – Executive Order Here – WATCH:

(Via Reuters) – […] Biden, [a member of the progressive death cult], has been under pressure from supporters, particularly progressives, to take action after the landmark decision, which upended roughly 50 years of protections for women’s reproductive rights.

The president’s powers are constrained, because U.S. states can make laws restricting abortion and access to medication, and the executive order is expected to have limited impact.

Biden will direct the Health and Human Services Department to take action to protect and expand access to “medication abortion” approved by the Food and Drug Administration, the White House said.

Experts have said a pill used to terminate early pregnancies is unlikely to become available without a prescription for years. States that already restrict the medication would not be affected by the presidential order.

He will also direct the department to ensure women have access to emergency medical care, family planning services, and contraception, including intrauterine devices (IUDs).

Biden’s attorney general and White House counsel will convene pro bono attorneys and other organizations to provide legal counsel for patients seeking an abortion as well as abortion providers.

“Such representation could include protecting the right to travel out of state to seek medical care,” the White House said in a statement. (read more)

Jul 9 2022

June Jobs Report Shows Gains of 372,000, April and May Reports Revised Downward by 74,000


Posted originally on the conservative tree house on July 8, 2022 | sundance 

The Bureau of Labor Statistics (BLS) has released the June jobs report [Data Here] showing 372,000 job gains on the establishment survey of businesses.  However, the April and May reports were revised downward by 74,000 jobs, and there is an odd disconnect between the survey of businesses and the survey of households.

The survey of businesses (BLS establishment report) shows job gains of 372k for the month of June, but the survey of households (BLS household report) shows that fewer people are working.  The labor-force participation rate slipped to 62.2% from a previous high of 62.4%, fewer people are working.

This odd disconnect has many people wondering what is going on?

Wage growth comes in at 5.1% on an annual basis, which is far below the current BLS calculated rate of inflation at 8.6%. Meaning wage growth is not keeping up with inflation despite workers entering the labor force at a higher entry level wage.

Economists overall are flummoxed as job gains would indicate a strong economy. However, the actual economic activity, the creation of goods and services, is not growing.  Quite the opposite appears.  Orders for factory goods have dropped, inventories of currently available goods are climbing, and sales figures across a broad spectrum of companies are negative.  The economy as measured by the creation of goods and services is stalled, but the economy as a measure of employment is firm.

Table B-1 of the BLS report shows where the jobs gains are being recorded.  Employment in professional and business services added 74,000 jobs in June, employment in leisure and hospitality added 67,000. Transportation and warehousing added 36,000 jobs, and manufacturing increased by 29,000. Simultaneously, retail ‘general merchandise’ stores lost 7,000 jobs, and residential building construction lost 4,500 jobs.

It would appear that as spending priorities are definitely taking place; the jobs growth is in the current maintenance of lifestyle and not the ‘moving up’ in lifestyle.  This would align with the general sentiment of the labor force that most people are just trying to get through the massive inflation impact and sustain their current rate of household expenses.

The decline in the labor force in June “is hard to explain,” said chief economist Aneta Markowska of Jefferies LLC, in light of the strong demand for labor. (link)

It’s really not that hard to figure out what is happening.  Well, I should say, not that hard to figure out, unless your job is to pretend not to know things.

Jul 8 2022

Facing Public Backlash Manhattan DA Lowers Bail for 61-Year-Old Convenience Store Clerk, Jose Alba, in Clear Self Defense Case


Posted originally on the conservative tree house on July 7, 2022 | Sundance 

The Safari Rules are surfacing again….

Jose Alba, 61, was working at Hamilton Heights Grocery on Broadway when a 35-year-old career criminal and ex-con, Austin Simon, stormed behind the counter and shoved him into a wall.  Austin Simon then continued to aggressively push Alba around, when the clerk grabbed a knife to defend himself and stabbed his attacker, Simon.

The entire incident was captured on CCTV footage [SEE HERE, Rumble], and the series of events were triggered when Simon’s girlfriend did not have enough money for her purchase and Jose Alba would not let her just take it without paying.  The boyfriend, Austin Simon, then enters the store, walks behind the counter and begins assaulting the 61-year-old Mr. Alba.  After a few minutes of being shoved and pushed around, Alba then grabbed a knife and stabbed Simon.  The attacker died of his injuries.  The store clerk was arrested by police, charged with murder and sent to jail with a $500,000 bail.

New York – The hard-working Manhattan bodega worker who was languishing on Rikers Island after being charged with murder for fending off a violent ex-con inside his store could be home as soon as Thursday night after a judge agreed to lower his hefty bail.

Jose Alba, who was being held on $250,000 bail in the Friday night caught-on-video attack, is due to be sprung after Manhattan prosecutors asked a judge to lower the amount to $50,000 — with relatives and Alba’s boss putting up the $5,000 needed to spring him on a bail bond. 

Alba’s attorney, Danielle Jackson of Neighborhood Defender Service of Harlem, assured the judge that her client was going nowhere.

“He has every intention to return to court and defend this case,” Jackson said.

Prosecutors with District Attorney Alvin Bragg’s office had initially requested that Alba be held on $500,000 bail at his arraignment Saturday, citing a planned trip to the Dominican Republic next week as proof that he was a flight risk.

In court, Manhattan prosecutors charged Alba with second-degree murder, but refused to file charges against Simon’s girlfriend for stabbing the bodega worker.

More than 20 relatives and supporters packed the courtroom for the video-feed court hearing in support of the beleaguered bodega worker.

Simon’s family, meanwhile, stormed out of court in tears, with his sister saying, that he “was murdered in cold blood.”  “If the shoe was on the other foot my brother wouldn’t have gotten bail or bond or nothing,” she said.  (read more)

Unfortunately, there is a racial component to this as blacks and Latinos have historically been two groups with friction between them.   Then overlay the black grievance industry, and the last decade of efforts to excuse any amount of criminal conduct by black males, and the narrative becomes very familiar.  It’s the “Safari Principle.”

Essentially, the rules of the safari say you should remain indoors, or in a locked vehicle, when there are predators (young black males) in the vicinity.  If you exit your vehicle in the safari, or otherwise engage the predators, they are not to blame for your injury or death.  This social acceptance of black violence is part of the reparations process advanced by progressives and leftists.

Under the rules of the safari, you are not allowed to defend yourself from any predatory attack, and all attacks are triggered by the behavior of the victim when the attack starts.  Famously another Latino named George Zimmerman was arrested by an activist prosecutor in Florida for defending himself against an attack by a black male named Trayvon Martin.

Police Officer Darren Wilson in Ferguson Missouri also learned the rules of the safari when he was attacked by another black male named Michael Brown.  Wilson shot and killed Brown after the predator attacked him in his vehicle; however, Wilson was run out of town by angry mob who wanted him arrested for defending himself and doing his job.

As the Safari Rules have continued to evolve under the culturally Marxist advancements by Black Lives Matter, the current rules emphasize that all black male predators are to be excused for their violent behavior immediately and no self-defense is permitted.

Mr. Jose Alba has now entered into the Safari Rules legal process.

Jul 8 2022

White House Press Secretary Claims Current U.S. Status is Best Economy in Our Nation’s History


Posted originally on the conservative tree house on July 7, 2022 | Sundance 

White House Press Secretary Karine Jean-Pierre is, at this point, transparently identified as the least qualified and capable person to hold that position in modern history.  She genuinely is lacking the ability to articulate intelligent responses to any questions.

It is also obvious to those who have followed Biden personnel decisions, that KJP was selected because she would spout the information given to her by Chief-of-Staff Ron Klain without a moment’s hesitation.  She is not intelligent enough to know the talking points are complete nonsense.  She spouts the most ridiculous talking points in a manner that reflects she believes them.  That said, her capacity to stumble through nonsense and pretend it is real is only surpassed by Kamala Harris and Pete Buttigieg.

Today from the White House podium, Ms. Karine Jean-Pierre actually made the claim that our current economy is the strongest in our nation’s history.  WATCH:

It is one thing to politically ‘spin’ reality, it is another thing entirely to politically manufacture reality.

Jul 7 2022

How Western Sanctions Crippled Syria


Armstrong Economics Blog/War Re-Posted Jul 7, 2022 by Martin Armstrong

The West has placed some form of sanctions on Syria since the Carter Administration when the nation was added to the State Sponsors of Terrorism List. George W. Bush increased sanctions in 2004 to push the “War on Terror” agenda as the US invaded sovereign nations under false pretenses. However, it was not until 2011 that the sanctions against Syria really caused the economy to fold.

Former President Obama implemented new sanctions that directly target the Syrian oil sector. This wave of sections forbids all petroleum investments and imports as well as exports. Individual assets for individuals and entities were frozen as well. Obama vowed not to lift sanctions until President Bashar al-Assad stepped down. The US used the pretense of Assad being a brutal leader who the people needed to be liberated from with the help of the world police force aka America. Transcripts from Obama’s 2011 executive order:

“The future of Syria must be determined by its people, but President Bashar al-Assad is standing in their way… As a part of that effort, my Administration is announcing unprecedented sanctions to deepen the financial isolation of the Assad regime and further disrupt its ability to finance a campaign of violence against the Syrian people.  I have signed a new Executive Order requiring the immediate freeze of all assets of the Government of Syria subject to U.S. jurisdiction and prohibiting U.S. persons from engaging in any transaction involving the Government of Syria.  This E.O. also bans U.S. imports of Syrian-origin petroleum or petroleum products; prohibits U.S. persons from having any dealings in or related to Syria’s petroleum or petroleum products; and prohibits U.S. persons from operating or investing in Syria. We expect today’s actions to be amplified by others.”

The European Union placed sanctions on Syria in 2011, as did the UK. Syria was essentially cut off from the world economy, and the hope of readmittance vanished in 2019 when former President Trump signed the Caesar Syria Protection Act. The act was named after a Syrian detainee names Caesar who documented human rights abuses and war crimes allegedly carried out by the Assad regime. Once the Caesar Act passed, there was no hope for Syria. People could not even send money to their relatives in Syria without repercussion. The US outlined six demands that needed to be met to lift the sanctions:

  1. End to Syrian and Russian aircraft bombing civilians.
  2. Iranian, Syrian and Russian forces, as well as entities connected to them, no longer restrict humanitarian access to besieged areas and allow for civilians to leave freely.
  3. All political prisoners are released, and the appropriate international human rights organizations are given full access to Syria’s prisons and detention facilities.
  4. Bombing of “medical facilities, schools, residential areas, and community gathering places, including markets” by Syrian, Russian, Iranian forces, as well as entities connected to them, ceases.
  5. The possibility for the “safe, voluntary, and dignified return of Syrians displaced by the conflict” is achieved.
  6. Accountability for “perpetrators of war crimes in Syria and justice for victims of war crimes committed by the Assad regime, including by participation in a credible and independent truth and reconciliation process.”

It all ties back to the US and Russia vying for Syrian oil. Both sides were bombing Syria into oblivion. The US has not lifted sanctions despite desperate cries for help from the Syrian people. At least 1.5% of the entire population of Syria is now dead, and over 90% live in extreme poverty. Biden recently claimed sanctions do not work, but he was referring to a country with a larger GDP and established infrastructure. Russia was able to bypass the sanctions, continue trading with allies, and most importantly hold power over one of the world’s most important natural resources. It is no wonder that Syrian men are fighting along with Russia against the West and will likely align with Eastern powers for generations to come.

Jul 6 2022

The President is Not a Patriot


Armstrong Economics Blog/Politics Re-Posted Jul 6, 2022 by Martin Armstrong

Joe Biden incited violence on Independence Day by claiming that the country was “moving backward.” Is he not the elected official in control of America? Biden was referencing the Supreme Court decision to remove abortion as a constitutional right. This is his very last talking point to garner votes as his administration has managed to ruin the nation’s economy in record time.

“Liberty is under assault, both here and abroad,” Biden stated. “In recent days, there’s been reason to think this country is moving backward, that freedom is being reduced, that rights we assumed were protected are no longer.”

The president was not alone in his anti-America tirade. A slew of celebrities took to the internet over the weekend to criticize America as well, claiming that Independence Day celebrations were canceled this year due to the Roe v. Wade ruling. These same celebrities live luxurious lives due to the rights offered to them by the Constitution. They are also the same people who notoriously back the left during campaigns and offer free publicity for politicians. Forget the fact that people can no longer afford to live due to inflation fueled by the policies of the current administration. They want to divert our attention away from the real problems so that we see America as a failed nation – divided we fall.