Italy Joins France in COVID Vaccination Requirement to Engage in Social Life, Restaurants, Theaters, Stadiums, Gyms, Shopping


Posted originally on the conservative tree house on July 23, 2021 | Sundance | 76 Comments

Last week the French government announced they would require a “sanitation passport” for any French citizen who wanted to engage in almost all forms of social life like shopping, eating at restaurants, movie theaters, or events where crowds were present.  There has been some backlash and protest, but not nearly enough to stop other EU nations from following the French process.

Today, the Italian government announced similar measures with their “green pass” to force vaccinations upon the Italian people if they wish to participate in social functions that interact with other people.

Without a green pass, Italian citizens and visitors will not be allowed to eat at restaurants, attend theaters, or events where any size crowd might be assembled.

(France24) […] The so-called Green Pass is a digital or paper certificate that shows if someone has received at least one jab, has tested negative or has recently recovered from COVID-19.

As of Aug. 6, the pass will be required to go to gyms, swimming pools, sports stadiums, museums, spas, casinos and cinemas. Eating in indoor restaurants also requires a pass.  Some 48.2% of Italians are fully inoculated and 14.1% are awaiting a second jab, according to latest data. (read more)

Italian Prime Minister Mario Draghi said, “Calls for people not to get vaccinated is a call for people to die. If you don’t vaccinate, you get sick, you die or you let other people die”, in his effort to use political and social peer pressure to gain vaccination compliance.

Stay tuned, this forced vaccination protocol is very near to happening here in the USA.  The mid-term COVID variant, also known as the Delta Variant,  is being used in order to establish the groundwork for the 2022 election cycle.

The scale of U.S. governmental push and pressure on private companies to comply is unlike anything I can remember in my lifetime.   The effort is very creepy now…. and we can anticipate that free and independent states who are not forcing a mandated vaccine will likely come under even more extreme federal pressure.

JoeBamanomics – Federal BLS Report Shows Declining US Wages 1.2 Percent Lower Than Last Year, Biden Administration Leading Economic War on Women


Posted originally on the conservative tree house on July 16, 2021 | Sundance | 64 Comments

Well, well, well…. though financial media will say this is remarkably unexpected, it is something CTH specifically predicted we would see – and it is happening exactly on the timeline CTH anticipated.

The Bureau of Labor Statistics releases the second quarter national wage rate data today {BLS DATA HERE}.  U.S. wages DECLINED 1.2% in the second quarter of 2021 compared to last year.  When reviewing the data [Table 2], look at the negative impact to women, specifically Black and Asian women:

TOP LINE – Combine a 1.2% decline in earned wages with a 5.4% overall inflation rate recently reported {Go Deep},  and what you get is a 6.6% drop in real income amid the working class.  That, my friends, is exactly what we said should be expected.  That is also why the JoeBama administration needs to pump more money into the system (human infrastructure spending) in order to stop people from realizing just how bad it is.

You cannot have declining wages and massive inflation and expect the middle-class to survive.  Additionally, when I said six weeks ago that we had just passed peak home value, this is another data point to bolster that prediction.  We are in a plateau period on macro-level real home values, from this point they start dropping.  You cannot have near double digit drops in real income and simultaneously expect people to afford high mortgages.  It just doesn’t happen.

The declining wage rates, and the more substantive drop in real wage rates due to massive inflation, are specifically hitting the lower tier of the working class harder.  Yet despite this,  Biden is intent on importing even more economic migrants to put even more downward pressure on wages for the working class.

These are very real outcomes of policy.  Working class Blacks and Latinos will feel this even more, yet this is the special interest group that Democrats claim to support.  The reality is exactly opposite from the narrative sold by the Biden administration.

The Democrats know this. These outcomes are not accidental; they are a feature not a flaw in their policy.  This is why they need to keep spending to retain the ruse.

There’s no way around this.  Despite the pundit and financial class selling a counter-narrative, home prices will crash and unemployment will go up.  I know this is directly against the current talking points, but the statistical reality is clear.  CTH was the first place who said two months ago that home sales will plummet, that is starting to happen right now.  There’s no way for it not to happen, the big picture tells us why.

♦ Inflation Data Link

♦ Prior Prediction Link

May 2021 – “It will be very interesting to watch how the housing market responds over the next few months. If the trendline continues we should see a considerable softening in home sales, again depending on region, as the inflation hits the working class.”  Imagine what happens when they stop pumping money into the economy.

Inflation Data Released Today Shows White House July 4th Price Claims Were Total Crap, Gas Prices Doubled, Annualized Total Inflation Rises to 5.4 Percent and Climbing


Posted originally on the conservative tree house on July 13, 2021 | Sundance | 115 Comments

On July 4th, a little more than a week ago, the White House made the preposterous claim that holiday food was cheaper than last year. Everyone who buys groceries knew that level of propaganda was unmitigated nonsense and the consumer pricing data released today shows exactly that.

According to the BLS, June prices jumped 0.9%. Every month this year the CPI has been rising faster than the prior month, which essentially means inflation is rising at an ever-increasing rate. Annualized inflation (June 2020 -vs- June 2021) now shows an overall inflation rate of 5.4%.

However, at a 0.9% monthly rate -if the level stabilizes- that means the real inflation rate is 10.8% Yeah, that’s a serious problem.

The BLS data (see table 7) shows that gasoline has doubled in price year-over-year. Unleaded regular gasoline is now 46.4% higher than last year. That level of fuel price increase is crushing the working class and blue collar workforce.

Inflation overall is currently rising three to four times faster than wages. That means real wages are dropping as Americans are paying more for everything, including fast turn consumable products like food and fuel. Again, we repeat… durable good sales will suffer as disposable income shrinks. Additionally, rising housing prices combined with diminishing blue collar wages is an unsustainable trend.

JoeBama economic policies are crushing the middle-class. The multinational corporations, Wall Street and the investment class benefit as Biden policies directly create a U.S. service driven economy {Go Deep}. Under JoeBama, the wage and wealth gap is growing again after three years of Trump policies closing it. Working class wages are dropping, and investment class earnings rise. This is the intentionally created outcome when America-First policies are cancelled.

Overall energy prices have jumped more than 32% year-over-year. This is a direct outcome of Biden policy. Used vehicle prices are up a whopping 45% vs 2020.

The financial media are working overtime to protect Joe Biden from the outcome of policy by deflecting blame to COVID-19, but the issues are far more substantive than their weak justifications. All of this was predictable. After several months of claiming the inflation was transitory or temporary, now the same financial media are shifting the narrative to say we need to just accept long term inflation is the new normal.

I cannot express my frustration adequately as we watch this play out and know how much propaganda is being pushed to justify it.  {Go Deep} and {Go Deep}.  CTH has outlined for years how these direct economic outcomes are a result of actual government policy.

Everything the Biden administration is doing is making things worse, and now we are seeing big drops in real wages as the inflation rate is far beyond wage growth. Under Biden inflation is massive and wage growth is non-existent. This is an exact reversal of the Trump-era outcome where inflation was low and wage growth rates were high.

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 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, 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. 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 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 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.  At the same time,  JoeBama dropped tariff enforcement to please the Wall Street multinational corporations and banks that funded his campaign.  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 means cheaper exports for the multinationals (Big AG and raw materials).  China, SE Asia and even the EU purchase U.S. raw materials at a lower price.  That means less raw material in the U.S. which drives up prices for U.S. consumers.  It is a perfect storm.  Higher costs for imported goods and higher costs for domestic goods (food).  Combine this dynamic with massive increases in energy costs from ideological policy and that’s fuel on a fire of inflation.

Annualized inflation is now estimated to be around 8 percent, and it will likely keep increasing.  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 housing prices drop because people cannot afford higher mortgage payments.

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 dollar continues to be weak, and 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.

Soros & the Pound


Armstrong Economics Blog/Foreign Exchange Re-Posted Jul 9, 2021 by Martin Armstrong

Many questions have come about my post on Soros and how the pound was different from a floating exchange rate. Soros took the lead, but everyone in the club was on that trade. Europe created the ERM which was fixing the European currencies against one another which was the prelude to the Euro. This is why they drove Margate Thatcher out of office because she opposed joining the Euro. Her cabinet revolted because they wanted to kill the pound and join the Euro.

After pushing her out of the office kicking her to the side like she was a dog they just ran over and left her for dead, they reversed her policies that caused a financial crisis. They swiftly took the pound into the ERM in preparation for joining the Euro. Of course, pride and politics came into play and the John Major government overvalued the pound in the ERM fixed rate which was unsustainable. His campaign promise was that he would NEVER devalue the pound.

Because I had advised Maggie against joining the Euro when Soros et al began shorting the pound it was a guaranteed trade. If the pound broke, they make a fortune. If they were wrong they lost nothing because it was a FIXED exchange rate. This was one of the reasons I was being called in around the world because politicians tried to fix currencies, and when they broke such pegs, they would always blame speculators.

This was like going to a casino and putting all your money on red at the roulette table, and when black comes out, they handed your chips back. This was the Financial Crisis of 1992-1993.

Betting against a peg or fixed exchange rate is a guaranteed trade. I was named Forex Person of the Year 2015 because the Swiss Peg broke when nobody expected it assuming governments are all-powerful.

Resistance is NOT Futile – I told you So!


Armstrong Economics Blog/BRITAIN Re-Posted Jul 8, 2021 by Martin Armstrong

In ancient Rome, the people had NO POWER at the ballot box. Nonetheless, the Emperors were forced to deal with the people because the MOB could always storm the palace, drag the emperor out, and mount his head on a spike to be paraded around the streets – which they did many times. Power at the top is NEVER absolute.

RESISTANCE IS NOT FUTILE 

History warns these would-be dictators will fail. They will be remembered for their inhumanity and their tyranny. I STRONGLY urge those in the media had better switch sides. History warns it could still be your head on a spike! History repeats because the passion of humans never changes!

EU exempting Private Jets from Climate Taxes


Armstrong Economics Blog/Climate Re- Posted Jul 8, 2021 by Martin Armstrong

The EU is exempting private jets from Global Warming taxation. Since the elite all have private jets, they certainly can’t possibly restrict themselves. They are the ones the world desperately needs. There were 309 private jets that flew to Davos in 2019. While Schwab says we all must walk to work which is from our bedroom to another room in the house and cannot drive to work, they all can fly private jets to attend his global fest. It is just so hypocritical. Schwab, on the other hand, makes sure he is never photographed how he arrives in Singapore or other places.

Schwab has been accused of using the pandemic to usher in a new era where the global elite retains total control over humanity. Exempting private jets seem to be merely a confirmation of that theory is not so far off the mark. John Kerry, our Climate Czar, flies around in his private jet. He can’t possibly be seen flying with the Great Unwashed or have to take his shoes off, be searched, or have to wear two masks. Then the government pays for him to use his own private jet.

The Nightmare of the EU


Armstrong Economics Blog/European Union Re-Posted Jul 7, 2021 by Martin Armstrong

QUESTION: Hello martin
I read your blog about the madness going on in Spain and you said this is what will happen in Europe. I am in Scotland and as far as I know the UK has left Europe. But is this true? I believe that we are still tied to Europe. Do you think that what is going on will hit here. I have read that Scotland is also a testing ground just like Spain. I hope not but have a gut feeling this may be the case.
You referred that under new laws they could take your property away. What if the property is in a private trust? Would the laws allow this? Seems things are becoming pretty lawless.
Thank you
All the best
maria

Blog/European Union

Posted Jul 7, 2021 by Martin Armstrong

Spread the love

QUESTION: Hello martin
I read your blog about the madness going on in Spain and you said this is what will happen in Europe. I am in Scotland and as far as I know the UK has left Europe. But is this true? I believe that we are still tied to Europe. Do you think that what is going on will hit here. I have read that Scotland is also a testing ground just like Spain. I hope not but have a gut feeling this may be the case.
You referred that under new laws they could take your property away. What if the property is in a private trust? Would the laws allow this? Seems things are becoming pretty lawless.
Thank you
All the best
mariaVideo Player00:1900:44

ANSWER: I seriously doubt that Johnson would ever be able to pull this one off in the UK. There is rising resistance building against the EU and many are starting to see that the greatest danger is by no means Russia, COVID, or Martians. The greatest threat remains right there in Brussels – the EU is now driven by Klaus Schwab.

At the WEF, Schwab has a ZERO ERROR policy. He will not suffer mistakes from his employees. He is a perfectionist and is deliberately creating havoc and then using that to claim he is right. I know they have manipulated the Black Lives Matter to create civil unrest and then they twist to say they are creating civil unrest because they want Schwab’s “EQUALITY” which is the code-word for nobody will own anything.

Then you must understand that the reason they claim Marxism failed before was that they only had Russia and China. In their mind, if they have the entire world, then communism will work. This is void of human rights and it is totalitarianism.

Boris has had to back off because Resistance is not Futile. They will do more than chasing BBC journalists on the street. He was going to try a lockdown into the sping of 2022. I think they will be storming #10 and dragging Boris out just for sport if he really thinks he will get away with that. They might hang him, but I don’t think they would behead him as in the old days.

The EU is firmly in the hands of Schwab. He can claim the rising civil unrest is because they want EQUALITY rather than it is because of his EQUALITY, but I really think someone is going to figure out the place to storm is the WEF in Switzerland – not Brussels. That is the head of the snake. The rest of Europe dances to his song.

Spain Revealing the Totalitarian Future for All


Armstrong Economics Blog/Uncategorized Re-Posted Jul 6, 2021 by Martin Armstrong

Spain is just putting it all out there. There is new legislation that effectively allows the total end of democracy and All freedom in Spain and this is just the beginning. Any person of legal age will be obliged to carry out the “personal benefits” required by the government, following the guidelines of the National Security Council, whenever the government declares a state of crisis for any reason whatsoever including health. Spain is declaring that all citizens are really slaves of the state without human rights. There is to be no exception and everyone MUST comply with the orders and instructions issued by the government. This new National Security Law stated:

In the event that a state of crisis is declared in Spain (‘situation of interest to National Security’ is the name given by law), the authorities may also proceed to the temporary requisition of all types of property, at the intervention or provisional occupation of those that are necessary or the suspension of all kinds of activities.

In the event that a state of crisis is declared in Spain (“situation of interest to National Security” is the name given by law), the authorities may also proceed to the temporary seizure of all types of property, at the intervention or provisional occupation of those that are necessary or the suspension of all kinds of activities. That is so vague it will allow the government to seize all your bank accounts and even your home – PERIOD! Those who suffer financial damages due to the seizure of their property or the interruption of their activity will have the right to be compensated. In its first drafts, the law excludes the payment of compensation to those who are obliged to make a personal benefit.  Therefore, any crisis they declare which can be health, environmental, economic, or financial nature, will be covered as well as an invasion from Mars.

However, this new duty to surrender all property does not stop with individuals. This ALSO applies to companies and legal entities to collaborate with the authorities to overcome whatever crisis they in their sole discretion determine. This introduces yet another new risk to owning any Spanish stocks. The politicians have cleverly found justification for eliminating human rights is contained in article 30 of the Constitution, according to which “Spaniards have the duty and right to defend Spain.”

On top of that, the government can also create mandatory military service which had been suspended in Spain back in 2001. They are referring to the 4th section, according to which, “by law, the duties of citizens may be regulated in cases of serious risk, catastrophe or public calamity .” This constitutional provision has remained until now inactive. The drafting of this legislation was deliberate toexclude it from any “organic law” which is the only one that can affect fundamental rights. The crisis is to be declared by the head of state – not the courts.

The obligation of the media

The new legislation also addresses the media. This draft includes the obligation of the media to collaborate with the competent authorities in the dissemination of information of a preventive or operational nature. In other words, it terminates the freedom of the press. The press will be compelled to put out only the government view.

This is what is coming down for all of Europe.

2 Million People Protest in London


Armstrong Economics Blog/Civil Unrest Re-Posted Jul 1, 2021 by Martin Armstrong

The two days of protests in London have been impressive to show that resistance is not futile with at least 1 million people per day (some estimates were 2 million), the interesting aspect b behind the curtain is that the Boris Johnson government does not “give a shit” according to sources. Unfortunately, the UK, Canada, Australia, and New Zealand are really on board with trying to destroy the economy and to move the economy into a controlled state for the future. The talk of using the variants as the excuse to lock people down into the Spring of 2022 continues to circulate. The general belief is that they can prevail by destroying enough of the economy thereby forcing a greater proportion of the people to rely upon the government for their guaranteed basic income and the government will thereby end borrowing and will be able to simply terminate their national debts.

Protestors Block the Nova Scotia-New Brunswick Border


Armstrong Economics Blog/Canada Re-Posted Jun 28, 2021 by Martin Armstrong

Civil unrest is rising in Canada due to Trudeau’s tyranny. Transit between the border of Nova Scotia and New Brunswick was closed for nearly a day after the Nova Scotia government announced that those traveling from New Brunswick would be forced to self-quarantine upon arrival. The decision was announced only a day after Novia Scotia’s government agreed to open borders with P.E.I. and Newfoundland and Labrador with no quarantine or testing requirements. “Families have been split apart for months and months and months and looking for that to finally come to an end today. And then at the last minute, the 11th hour, having that dashed? Extremely, extremely disappointing,” one protestor said, pointing out the harm that the border closure to New Brunswick has caused.

Protestors even blocked a truck from entering with what was believed to be COVID-19 vaccines. In a video circling the internet, you can see protestors standing in front of the truck and demanding to know if it is carrying experimental COVID vaccines. The people are livid. Eyes are beginning to open as people realize how much control the government has over their lives, wielding the power to change the rules at any time. You can only push the people so far before they begin to fight back. “If the government can state we can’t do these things against our Charter of Rights, we are going in protest to say, ‘No, it’s not acceptable.’ You can’t keep hanging a carrot in front of all of your people and then yanking the carrot away. You can’t keep giving false promises. Lie after lie,” another protestor demanded. This is all in line with our computer’s forecast – the people no longer trust their governments.