Armstrong Economics Blog/Humor Re-Posted Oct 16, 2021 by Martin Armstrong
The usually left-leaning Saturday Night Live mocked the recent Facebook whistleblower testimony. Although it is still left-leaning, the writers must have realized that most US lawmakers are completely out of touch with reality and the very issues they make decisions on. They display false outrage but fail to act. “What Facebook has done is disgraceful, and you better believe Congress will be taking action right after we pass the infrastructure bill, raise the debt ceiling, prosecute those responsible for the January 6 insurrection, and stop Trump from using executive privilege, even though he’s no longer president. But after all that, you watch out, Facebook,” Senator Dianne Feinstein’s character commented.
It would be funny if it were not true, and I contemplate whether to categorize this as humor. In the skit, Senator John Neely Kennedy’s character was perplexed by the Facebook algorithm, and well, algorithms in general. “You’ve told us a lot of disturbing information about this so-called ‘algorithm.’ I just want to clear up a few points… Where is it? Do you have it with you now?” he questioned. I have faced similar interrogations over Socrates’ algorithm. The government wants what they cannot have and do not understand. These are the people we are expected to trust to dictate our future.
Armstrong Economics Blog/Police State Re-Posted Oct 16, 2021 by Martin Armstrong
Posted originally on the conservative tree house on October 16, 2021 | Sundance | 158 Comments
An article and video promoted by the World Economic Forum, intended to propose and outline a globally accepted “COVIDPass”, actually reveals stunning background admissions. [Article Here – VIDEO Below]
The basic premise of the proposal is for a global COVIDPass that will be universally accepted permitting vaccinated people to travel around the world and enter all venues and facilities that require proof of vaccine. However, there is something in the proposal that tells a story all by itself. First, WATCH the Video:
.Don’t get caught up in the esoteric weeds about the COVID passport angle of this; and don’t let yourself focus on the vaxxed vs non-vaxxed aspect. Additionally, for now do not focus on the privacy aspects or the issues with tracing or tracking. Instead, focus like a laser on something far more critical in the background of the proposal itself.
The entire premise of the World Economic Forum’s “COVIDPass” is predicated on a blood test being able to identify whether a person has been vaccinated or not.
Think about that carefully.
Think about that deeply.
Right now, all vaccination ID’s, all COVID passports, are dependent on a registration process that takes place at the time of vaccination within each nation’s unique healthcare system:
(1) You get vaccinated, you get registered in a system that shows you have been vaccinated; and that’s how you eventually get to a place where you establish a linked “QR” code to the vaccination registration -most commonly on your cell phone- that grants you permitted access at checkpoints or gateways.
(2) You get vaccinated, you get registered in a system that shows you have been vaccinated; and you are given a paper vaccination card to carry on your person that grants you permitted access at checkpoints or gateways.
Those are essentially the only two registration systems for COVID passports currently in place. Both of them are dependent on registration with the healthcare system or provider who then grants you the paper ID; or triggers the authorization process to connect your vaccination status to a system where you download the QR code.
Regardless of which process is followed, the registration is with the healthcare system.
What the World Economic Forum (WEF) is describing is NOT that…. and this is the critical point.
The WEF proposal is based on a blood sample, or a blood test, to prove you have been vaccinated. The only way that is possible is if the vaccine itself carries some form of marker that permanently stays (at a cellular level) in your body which can then be detected in a blood test.
If the vaccine does not leave an identifiable marker or imprint in your blood, then a blood test for vaccinated status would not be possible.
If you understand that critical point, then keep reading. If you don’t understand the significance of that point, then it’s best to just quit right here.
♦ If you were to go into a doctors office, blood lab or hospital right now and tell them you needed a blood test to prove you have been vaccinated, they would look at you like you’re a crazy person. Their response would be for you to contact your healthcare provider -where the vaccine shot was given- to get the verification or duplicate authentication you would need to prove you have been vaccinated.
Yet somehow the World Economic Forum knows of a process for testing blood to see if the vaccine is present?
Think about that.
Let’s call whatever is in your blood system a “marker“, because generically we do not know what they would specifically be looking for to isolate blood as vaccinated -vs- non vaccinated. They are looking for something, so let’s call that a marker. That means the following points are evident:
- Whatever that marker is, has to be present in all versions of the vaccine.
- Whatever that marker is, has to be present permanently.
- Whatever that marker is, was known by the World Economic Forum to exist prior to this proposal.
Without a way to identify vaccinated blood, the entire premise of the COVIDPass proposed by the WEF is moot.
So, the question becomes: what is that marker?
Without extrapolating into conspiracy theory or suspicious imaginings, the basic point to drive home from this WEF proposal is their awareness of a blood test that can guarantee you have been vaccinated. [The next step, where your blood test is linked to your unique identification for authenticity in society, is another kettle of fish altogether.]
COMMON SENSE – Factually it would defeat the entire premise of the COVIDPass as outlined if your unique id was not being traced/tracked.
If, as an example, I were to use your cell phone QR code at the boarding gate of an international flight, there would have to be some cross referenced database that pulls up your unique identification in order to stop me from traveling under your vaccinated status.
Under the concept of a globally accepted, bloodline-authenticated vaccination ID, there has to be a central database from which your vaccination identification -your blood- was registered to your specific personage. But that’s going further into the future.
For now, it is worth noting that in mid-2020, even before the various vaccine’s deployed in clinical trials, the World Economic Forum knew that a blood test for a COVID vaccination was the best scenario for vaccine passport identification. [Article Here]
Posted originally on the conservative tree house October 15, 2021 | Sundance | 316 Comments
The White House occupant visited Storrs, Connecticut, today for the dedication of the Dodd Center for Human Rights at the University of Connecticut.
However, during the rebranding/rededication ceremony a familiar angry and intemperate disposition erupted. A very inappropriate disposition familiar to anyone who has been around a dementia patient. WATCH:
Armstrong Economics Blog/Press Re-Posted Oct 15, 2021 by Martin Armstrong
COMMENT: Marty; the Fed quietly published the banks it was funding in the Repo Crisis. I just wanted to say, you are always right. The press claimed it was tax time, but you said it was the crisis in European banks. Your sources are always spot on. Thanks for the light of truth.
REPLY: Yes, that story that the liquidity crisis occurred because US corporations withdrew large amounts from the banks in order to make quarterly tax payments was the most absurd propaganda I ever heard. Why then do we not see the same liquidity crisis event during tax season?
The bulk of the loans covered foreign banks, as well as Goldman Sachs and JPMorgan Securities. It was all driven by the simple fact that Merkel said there would be no bailout for Deutsche Bank, which was the major derivatives counterparty problem involving Wall Street. Deutsche Bank had a major derivatives book, and if it failed, it would have taken down US banks. Deutsche Bank was in crisis and then it was too big to merge with Commerzbank. They had to lay off nearly 20,000 staff and a major effort was undertake to try to isolate its toxic assets.
That is why the Fed had to step in as the market maker to bail out Europe for US banks all backed off. I really do not know who makes up these stories to try to hide the truth. But they always do in hopes of preventing panics. This time, the game is up.
Armstrong Economics Blog/Economics Re-Posted Oct 14, 2021 by Martin Armstrong
Inflation continued to surge, reaching 5.4% in September. Janet Yellen has never been right about anything and keeps calling this “transitory,” as if it will vanish in a few weeks. The Labor Department’s Consumer Price Index, which is supposed to measure a basket of goods and services as well as energy and food costs, came in at 5.4% in September from a year earlier, well beyond expectations. However, our model was projecting a rise in inflation into 2021 which is 13 years up from the November 2008 low. It is interesting how the COVID restrictions with lockdowns came in on target with our computer’s forecast. Curious how events seem to fulfill the forecast when it is done by a computer rather than human judgment.
Nevertheless, as you can see from the chart, inflation has bounced on a month/month basis, but it has not yet reached the Downtrend Line. The long-term forecast beyond a mere decade projects the historical high will be due in 2034, which should exceed all previous highs. A month/month number above 1.05% will signal that inflation is breaking out, and we will indeed make all-time record highs going into 2034.
Armstrong Economics Blog/Vaccine Re-Posted Oct 14, 2021 by Martin Armstrong
The numbers are out — 4.3 million people in the US quit their jobs in August. This is the largest number since 2000. The leading sector is hotels and restaurants. I have a friend who has a daughter who had two jobs. She worked as a waitress/bartender at night and at a health food store during the day. She was very industrious, to say the least, and quite impressive. However, she quit the health food job because they demanded a vaccine. She said the bar owner was going to impose a vaccine rule and more than 50% of the staff said they would quit.
Meanwhile, New York’s bars and restaurants are hurting for business because of the vaccine mandates. Our most honorable leaders, who are most likely taking money from Pfizer lobbyists worldwide, are realizing that resistance is not futile. You can mandate vaccines and pretend they are 100% safe, but the truth always surfaces. The people can bring down the entire system if they simply refuse to participate.
Many journalists are too busy selling Biden’s propaganda about the vaccines. The FDA admits there are risks, but they, in their sole discretion, announced they “believe” the benefits outweigh the risk without any explanation of the analysis or a single word of caution (e.g., if you have certain conditions, you should not take the vaccine) despite doing so for other vaccines. So while the press and the Biden Administration are ignoring the facts and the trend, this only raises the question: How much has Pfizer and Moderna paid you?
Posted originally on the conservative tree house on October 13, 2021 | Sundance | 249 Comments
I do not expect White House Spokesperson Jennifer Psaki to understand how her bosses policies are driving massive price increases; nor do I expect Psaki to understand economics and inflationary impacts. However, the scale of her false statements surrounding inflation are not just false, they are now dangerous.
Following the release of the consumer price index [SEE table 2], in her press briefing today, Jen Psaki outlined the White House perspective on inflation, and specifically the Fed claims surrounding “transitory inflation.”
In her statements today, Psaki referenced people comparing the prices of 2021 consumable goods to 2020 and 2019. [Video prompted below] Within the statements, the scale of falsity is off the charts. WATCH [Video at 19:00 to 22:42, prompted]
There is not one single thing about that three minute verbal exchange that is accurate. Fast turn consumable goods, groceries etc., did not drop in 2020 during the first year of the pandemic. Factually, all goods but especially consumable goods increased in price throughout the pandemic, because demand actually increased and the supply chains were unable to keep up.
Example. A loaf of bread at $2.50 in 2019, climbed to $3.00 in 2020. That price jumped again to $3.75 this year (2021) and will likely continue rising as monetary policy driven inflation continues devaluing our currency.
Even if, as Psaki claims, inflation slows down (not likely) – “decelerating inflation” does not mean declining prices; it means a slower rate of price increase. Stuff still costs more, it just costs more at a slower rate. Consumable goods will cost more in 2022 than they do this year. The 2022 loaf of bread likely to climb to $4.00; it will never return to the 2019 price of $2.50 because the dollar is worth less.
♦ Ask the White House: Why did Joe Biden increase food assistance benefits by 25% if inflation was transitory?
This massive inflation is a direct result of the multinational agenda of the Biden administration in combination with the spending spree. Inflation is a feature not a flaw, and it has nothing whatsoever to do with COVID. The first group to admit what was obvious were banks, specifically Bank of America, because the monetary policy is the primary cause.
You might remember, when President Trump initiated tariffs against China (steel, aluminum and more), Southeast Asia (product specific), Europe (steel, aluminum and direct products), Canada (steel, aluminum, lumber and dairy specifics), the financial pundits screamed at the top of their lungs that consumer prices were going to skyrocket. They didn’t. CTH knew they wouldn’t because essentially those trading partners responded in the exact same way the U.S. did decades ago when the import/export dynamic was reversed.
Trump’s massive, and in some instances targeted, import tariffs against China, SE Asia, Canada and the EU not only did not increase prices, the prices of the goods in the U.S. actually dropped. Trump’s policies led the largest deflation in consumer prices in decades. At the same time, Trump’s domestic economic policies drove employment and wages higher than any time in the past forty years.
With Donald Trump’s policies, we were in an era where job growth was strong, wages were rising and consumer prices were falling. The net result was more disposable income for the middle class, more demand for stuff, and ultimately that’s why the U.S. economy was so strong.
♦Going Deep – To retain their position, China and the EU responded to U.S. tariffs by devaluing their currency as an offset to higher prices. It started with China, because their economy is so dependent on exports to the U.S.
China first started subsidizing the targeted sectors hit by tariffs. However, as the Chinese economy was under pressure, they stopped purchasing industrial products from the EU, that slowed the EU economy and made the impact of U.S. tariffs, later targeted in the EU direction, more impactful.
When China (total communist control over their banking system) devalued their currency to avoid Tariff price increase, it had an unusual effect. The cost of all Chinese imports dropped, not just on the tariff goods.
Imported stuff from China dropped in price at the same time the U.S. dollar was strong. This meant it took less dollars to import the same amount of Chinese goods; and those goods were at a lower price. As a result, we were importing deflation…. the exact opposite of what the financial pundits claimed would happen.
In response to a lessening of overall economic activity, the EU then followed the same approach as China. The EU was already facing pressure from the exit of the U.K. from the EU system; so, when the EU central banks started pumping money into their economy and offsetting with subsidies, they essentially devalued the euro. The outcome for U.S.-EU importers was the same as the outcome for U.S.-China importers. We began importing deflation from the EU side.
In the middle of this, there was a downside for U.S. exporters. With China and the EU devaluing their currency, the value of the dollar increased. This made purchases from the U.S. more expensive. U.S. companies who relied on exports (lots of agricultural industries and raw materials) took a hit from higher export prices. However, and this part is really interesting, it only made those companies more dependent on domestic sales for income. With less being exported, there was more product available in the U.S for domestic purchase…. this dynamic led to another predictable outcome, even lower prices for U.S. consumers.
From 2017 through early 2020, U.S. consumer prices were dropping. We were in a rare place where actual deflation was happening. Combine lower prices with higher wages, and you can easily see the strength within the U.S. economy.
For the rest of the world this seemed unfair, and indeed they cried foul – especially Canada. However, this was America First in action. Middle-class Americans were benefiting from a Trump reversal of 40 years of economic policies like those that created the rust belt.
Industries were investing in the U.S., and that provided leverage for Trump’s trade policies to have stronger influence. If you wanted access to this expanding market, those foreign companies needed to put their investment money into the U.S. and create even more U.S. jobs. This was an expanding economic spiral where Trump was creating more and more economic pies. Every sector of the U.S. economy was benefiting more, but the blue-collar working class was gaining the most benefit of all.
♦ REVERSE THIS… and you now understand where we are with inflation.
The JoeBama economic policies are exactly the reverse. The monetary policy that pumps money into into the U.S. economy, via COVID bailouts and ever-increasing federal spending, drops the value of the dollar and makes the dependency state worse.
With the FED pumping money into the U.S. system, the dollar value plummets. Now the value of the Chinese and EU currency increases. This means it costs more to import products, and that is the primary driver of price increases in consumer goods.
Simultaneously, a lower dollar value means cheaper exports for the massive multinational conglomerates who now control our farms and farming resources (Big AG and raw materials). China, SE Asia and even the EU purchase U.S. food and raw material at a lower price. That means less food and raw material in the U.S. which drives up prices for U.S. consumers.
It is a perfect storm. Higher costs for imported goods (durable goods) and higher costs for domestic consumable goods (food). Combine this dynamic with massive increases in energy costs from ideological Green New Deal policy, and that’s fuel on a fire of inflation.
Annualized inflation is now around 8 percent, and it will likely keep increasing in the short term. This is terrible for wage earners in the U.S. who are now seeing no wage growth and higher prices. Real wages are decreasing by the fastest rate in decades. We are now in a downward spiral where your paycheck buys less. As a result, consumer middle-class spending contracts. Eventually, this means household purchasing of durable goods drop because people have less disposable income.
Gasoline costs more (+50%), food costs more (+10% at a minimum) and as a result, real wages drop; disposable income is lost. Ultimately this is the cause of Stagflation. A stagnant economy and inflation. None of this is caused by COVID-19. All of this is caused by economic policy and monetary policy sold under the guise of COVID-19.
This inflationary period will not stall out until the U.S. economy can recover from the massive amount of federal spending.
If the spending continues, the Fed keeps printing money. The dollar continues to be weakened. As a result the inflationary period continues. It is a spiral that can only be stopped if the policies are reversed…. and the only way to stop these insane policies is to get rid of the Wall Street democrats and republicans who are constructing them.
Tucker Carlson hit this point very well last night:
Armstrong Economics Blog/Hyperinflation Re-Posted Oct 13, 2021 by Martin Armstrong
COMMENT: All these increased demands for my product is great, but it comes with quite a wholesale flower prices have also increased significantly making the cost of the arrangements much higher. Wholesale rose prices have jumped 56%. Last year I could buy a pack of 25 roses for $18, where today they cost $28. I have to pass these costs onto my customers, but even with the increased cost people are still buying more flowers this year than the same time last year.
REPLY: Thank you for this info. It is hard to find any industry that is not suffering from a shortage of supply.