Posted 0riginally on Apr 19, 2024 By Martin Armstrong
A word to individuals who mock those looking for safe havens. We do not realize how lucky we are to live in America, Canada, or elsewhere during this current time period. Those who write in desperately seeking a safe haven are NOT simply greedy people looking to evade taxation. People are looking to evade government oppression.
Take a look at Russia and Ukraine. I know a woman with family in Russia. She can visit Russia, but her son cannot. Her son was born in Russia but has lived in America since he was a child. If he were to step foot on Russian soil, he would be required to serve in the war. There are countless Ukrainian men hiding out with their families, praying that Zelensky fails so that the war will come to an end. Families with young boys do not want to see their sons go to war when they reach a certain age. Young men in these nations simply do not have a future other than acting as cannon fodder in a senseless war that in no way benefits their people. Ukraine is asking older men to join the war effort now too as the replenishment rate is unsustainable. People may flee overseas, but the government will seek them out and punish them if they dare to return. The place they once called home no longer exists.
The government owns them.
We are witnessing all governments diving deeper into tyranny amid this wave of private confidence where all hope in government is lost. Many western governments are now attempting to impose ridiculous taxes that ensure the people are financially owned by the state.
The West is already talking about requiring women to serve as well amid this woke ideology where we live in a genderless society where a “birthing person” has no role in caring for future generations as it is the government’s job. Hence why governments are eliminating parents’ rights to choose what their children learn in schools or believe because, as Joe Biden said, your child is “everyone’s kid.”
This goes far beyond merely evading taxation. Militaries are continually failing to meet their annual recruitment standards. Younger readers do not recall the last US draft for Vietnam. Families gathered around the TV and anxiously awaited the government’s lottery drawing. If your birthday was selected by the lottery drawing, you were required to serve in the military and leave your life behind.
The drums of war are beating loudly. The West may only be supplying financial aid and extorting its people for financial aid—for now. Our politicians have control over our lives and our futures, or lack thereof.
Posted originally on Apr 18, 2024 By Martin Armstrong
The Consumer Price Index (CPI) released on April 10 by the US Bureau of Labor Statistics reported that inflation rose by 0.4% on a monthly basis and by 3.5% on the yearly. One must only look at their bills, items in the store, or open their eyes to see that the cost of living in every area has far surpassed this figure. Federal Reserve Chairman Jerome Powell released some disparaging comments regarding the data, and we should not expect any rate declines in the near-term. The Fed’s 2% target is simply not possible due to excessive government spending. Inflation was never transitory and we have not had a soft landing. Yet, the Biden Administration insists the “economy is going in the right direction.”
Press Secretary Karine Jean-Pierre has insisted that greedy corporations are to blame for price gouging. He’s repeatedly called on large corporations, more specifically, to pass along their savings on to their customers. We’ve said that. We’ve been very consistent about that. And that includes rip-offs such as shrinkflation,” she insists.
Treasury Secretary Janet Yellen also voices positive sentiments on inflations, citing how inflation is down two-thirds from its peak in June 2022 when it reached 9.1%. Yellen fails to voice that inflation had peaked due to the entire global economy shutting down due to the pandemic that created the most significant supply chain shortage I have witnessed in my lifetime. This is also why we see “strong” jobs reports in contrast to the lockdown that decimated small businesses and caused thousands to lose their ability to provide for their families.
Remember, inflation was only 1.4% when Joe Biden took office – far beneath the Fed’s target. Inflation has risen as a direct result of fiscal policies under Bidenomics.
Joe Biden mistakenly believes he has helped to tame inflation, and the private sector is solely responsible for the high cost of living. “Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families. Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” according to a statement on the White House website.
Yellen and all those in line with the current administration want the public to believe that Russia and a slow-to-recover supply chain crisis caused inflation. “And I also want to remind you what caused inflation. We know that inflation was caused by supply chains that broke down because of the pandemic. Russia’s war in Ukraine — we know that caused oil prices to skyrocket. Our economy was disrupted by so many ways because of the pandemic. That’s what caused inflation,” Yellen stated in March.
Russia’s war in Ukraine would have had minimal effect on America. In fact, America could have profited on the issue by exporting energy and agricultural goods to Europe. The issue is that the US government has been sending blank checks to Ukraine and digging itself deeper into debt. The national debt has never been higher and shows no signs of stopping. The war shows no sign of stopping and Biden has ignored any calls to curtail funding Ukraine. Then, Biden’s largest spending packages have gone to climate change initiatives such as the Inflation Reduction Act, which Yellen herself said was intended to combat climate change.
As for the supply chain crisis, primarily energy, those who read this blog understand what happened with Nordstream. Biden’s first act as president was to eliminate the Keystone Pipeline plans and place countless regulations on the energy sector that caused America to become an energy-dependent nation. The Strategic Petroleum Reserve has been used as a political tool to play with gas prices and removed America’s energy safety net.
Jerome Powell stated that the jobs report was unimpressive in comparison to rising inflation. “More recent data shows solid growth and continued strength in the labor market, but also a lack of further progress so far this year on returning to our 2% inflation goal,” the Fed chief said during a panel discussion this Tuesday. What Powell cannot voice out loud is that government policy has made the Fed’s job impossible. There is absolutely nothing that the central bank can do to curb government spending. “The recent data have clearly not given us greater confidence, and instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said. The economy is heading in the wrong direction, yet Washington is continually gas lighting the public into believing the economy has recovered. The economy fell with COVID, but the pandemic is no longer the reason that rates are rising.
Are companies price gouging? Some certainly have been. The price of business has also drastically risen in every area. TAXES are through the roof and everyone is forced to raise prices, landlords included, to meet Biden’s tax hikes that are simply unconstitutional. Why are we paying for foreign wars and foreign nationals to live within the US?
It is ridiculous to believe that the private sector is to blame for inflation. Even the Federal Reserve has said that they are at the mercy of the government’s fiscal policy and cannot do anything to prevent excessive, dangerous government spending. Inflation will not go down so long as the government is funding wars, which produce nothing, and thoughtless non-issues such as climate change that are rooted in America Last policies.
Posted originally on Apr 18, 2024 By Martin Armstrong
The federal US government insists 60% of all new car production must be electric by 2030 – six years away. I have explained numerous times how this is unsustainable for US infrastructure, the private sector, and the average American consumer. Now, 13 Republican-led states are taking the federal government to the US Court of Appeals for the Eighth Circuit to ask that this mandate be repealed.
The Environmental Protection Agency (EPA) and Department of Energy (DOE) are violating standing laws by ushering in this new wave of electric auto manufacturing, according to the 13 attorneys generals who are standing up for the people. The AGs believe that these agencies do not have the authority to issue fuel regulations that “multiplies the nominal fuel-efficiency of electric automobiles by 6.67.”
The DOE is mandated by law to conduct an annual review before implementing policies, so how could they issue mandates that begin as soon as 2027? “We’re pulling the plug on Biden’s electric vehicle handout,” Iowa Attorney General Brenna Bird said. “Biden has made it clear thmat he will take every avenue possible to wage war on gas-powered vehicles. And Iowa ethanol is getting caught in the crossfire.” Along with Iowa, Nebraska, Arkansas, Florida, Idaho, Kansas, Mississippi, Missouri, Montana, Ohio, Oklahoma, Texas, Utah, and the American Free Enterprise Chamber of Commerce are filing this appeal.
Furthermore, the lawsuit argues that the federal government is overestimating the efficiency of electric autos by at least 6 times. “Biden’s illegal boost to electric vehicles hurts car owners, car manufacturers, liquid-fuel producers and the electric grid. The rule manipulates a more than 30-year-old incentive for car manufacturers that design cars that run on gasoline, ethanol, biodiesel, or compressed natural gas. The benefit that was intended to support farmers and ethanol producers is now being exploited to harm them by giving handouts to electric vehicles. This rule favoring electric vehicles hurts car-owners, roads, and carbon emissions across the country.”
The push for EVs has nothing to do with the environment and everything to do with government control in allegiance with Agenda 2030 put forth by the World Economic Forum. The infrastructure for EVs is simply non-existent. I reported that the government has only opened seven charging stations since funneling billions into arranging a nation network of stations. Auto manufacturers have protested the initiative, and the average consumer simply cannot afford to make the switch. If the government receives no pushback, driving in itself will become a luxury that is out of reach for the average American. That will be by design. Say goodbye to the freedom of movement as you rely on your QR-coded public transportation within your 15-minute city.
Posted originally on Apr 17, 2024 By Martin Armstrong
I explained how the private sector does not wish to switch to EVs amid high production costs and low demand. A recent Gallup Poll found that Americans do not want to own an EV, and the plans to eliminate fossil fuels do not align with the wishes of the people.
Around 7% of respondents, up 4% from last year, do own an EV. In 2023, 43% of respondents said they’d consider switching to electric, but that figure has declined to 35%. Fewer than half of adults, 44%, said they’d “seriously consider” or “might consider” buying electric in the future, down from 55% in 2023, while the number of people stating they have zero intention of switching rose to 48% from 41% on an annual basis.
We know that is cost more to purchase an EV, hence upper-income respondents are more likely to own or consider owning an EV and that figure declines when we look at middle America, and further declines when we look at the working class. In fact, 61% of lower-income Americans said they would never switch to electric, an 18 percentage point rise from 2023.
Liberals are also more likely to own or consider owning an EV. Only 27% of Democrats said they would not consider switching compared to 69% of Republicans and 47% of Independents. The study found that lower-income and young Americans are most concerned about climate change, but only 8% of people overall who worry “a great deal” about fossil fuel cars impact on the environment actually own one.
Still, the government is pushing full speed ahead to ensure 60% of new vehicle production is electric by 2030 – six years from now. I explained how manufacturing is not expanding under these climate change initiatives. The private sector does not want to produce these vehicles and the people do not want to buy them. Yet, the Biden Administration will stick to these arbitrary targets if re-elected this November.
Biden is destroying the financial future of generations with his reckless spending in an attempt to buy votes. Fed Chair Powell nearly admitted it in his interview with 60 Minutes in which he urged the government to show restraint when plunging the nation deeper into debt. Biden and the Democrats are cheering that he will “cancel” debt for an additional 277,000 under the SAVE plan. Do people not realize by now that the taxpayer is paying for this debt cancelation?
Biden already “forgave” the debts of 4.3 million borrowers, but the banks have not, and neither have the universities. The liberals believe the Big Guy is magically opening his wallet or waving a magic wand and making the debt disappear. NO – the lenders will receive a repayment, but now WE, the people, must pay for the debts of a few. This would be akin to the president saying that federal funds would be used to forgive personal mortgage loans – people simply cannot afford them at the moment, and it is the socially just thing to do. Forget about the people who chose not to buy a home because it did not fit within their budgets. Perhaps we should forgive all EV car payments, t00, and hey, that money we owe to foreign nations? Well, that will be a discussion for another time since we simply won’t have the money to repay.
Newsflash – the youth do not approve of Joe Biden. They are afraid to fight in a war overseas in which they see no patriotic cause to go. His supporters on the far-left support HAMAS. Not Palestine, but Hamas. A Harvard-Harris poll conducted in October asked, “In general in this conflict, do you side more with Israel or Hamas?” Among Gen Z voters, 48% said they supported the terrorist organization. Those with clarity do not support any war and certainly do not support sending countless aid to Ukraine and Israel.
Tax season caused some of the woke young Americans to question their financial identities, and I reported that one poll found that nearly a quarter of first-time filers actually planned to seek psychological help upon filing taxes. No one explained to them how this sinister system actually works.
We do not live in a Democracy. We did not vote on whether we wanted to spend over $7 billion to dismiss the financial obligations of others. Furthermore, this is a clear and deliberate attempt to BUY VOTES ahead of the election. Biden is simply polling so low that he is desperate to do anything to garner support, be it ushering in a new population of migrants or gaslighting the public into believing they are better off today.
WE the people have spent $153,000,0000,000 on buying votes through student loan bailouts. On June 30, 2023, the Supreme Court declared Biden’s forgiveness programs unconstitutional. The Biden regime has never followed the Constitution and has actively sought ways to dismiss the very documents this nation was founded on. “I believe the Court’s decision to strike down my student debt relief program was a mistake, was wrong. So, we need to find a new way and we’re moving as fast as we can,” Biden was scripted to say after the ruling. Is there an amendment that this man has not dismissed?
The national debt crisis should scare you. Biden-Harris and the neocons are borrowing against future generations of Americans. The government believes it can shake down the citizens for additional taxes, but even if they confiscated all of our assets, it would not be enough to cover their continual spending.
Again, I want to state the importance of Jerome Powell’s words. It is unusual for the central bank to break with the government for any reason.
“In the long run, the US is on an unsustainable fiscal path. The US federal government is on an unsustainable fiscal path and that just means that the debt is growing faster than the economy,” Powell finally warned, later adding, “effectively, we are borrowing from future generations.” He warned that we must begin to prioritize fiscal policy immediately to fix this unending crisis.
Forget rate cuts. Forget a balanced budget or even seeing anything remotely in the green. Not only are we funding 2.5 wars and millions of unemployed migrants, but we are also funding the climate change hysteria that demands we implode our economy. The Inflational Reduction Act was merely the beginning. These spending packages are the greatest threat to our nation’s economy as we simply CANNOT REPAY OUR DEBT. Worse — we have turned our main buyers into enemies and will soon be left holding the bag as no one will come to rescue America.
Posted 0riginally on Apr 12, 2024 By Martin Armstrong
Admiral Rachel Levine was appointed as the U.S. Public Health Service, Assistant Secretary for Health, U.S. Department of Health and Human Services under Biden’s diversity cabinet. Levine has repeatedly warned that climate change disproportionately affects minorities. The US Department of Agriculture agrees and will begin prioritizing disaster aid to non-white Americans. A group of farmers is now suing the USDA and claiming that it violates the 14th Amendment by favoring certain groups over others.
“When natural disasters strike, they don’t discriminate based on race and sex. Neither should the Department of Agriculture,” the group of farmers wrote in a court filing. “Enjoining USDA from using race, sex, or progressive factoring when administering the programs is warranted because Plaintiffs are likely to succeed on the merits of their claims that: (1) the programs, as currently administered, are unconstitutional; (2) USDA lacks statutory authority to run the programs in their current form; and (3) USDA failed to adequately explain changes in calculating payments when implementing progressive factoring,” the motion stated.
The Biden Administration has distributed $25 billion in pandemic and disaster aid based on a woke merit system that is based on gender, race, sexuality, or any trait that is deemed “socially disadvantaged.” Not only does this violate the 14th Amendment, but it infringes upon the Fifth Amendment and the Administrative Procedures Act. Straight white men are being discriminated against, yet they compose the majority of America’s farmers. Those deemed “socially disadvantaged” not only receive financial assistance first, but they receive larger sums and other preferential treatment.
“Disasters don’t discriminate and neither should USDA. In fact, the Constitution prohibits it,” the lawyers representing the farmers declared. “That is why our brave clients – a group of Texas farmers that includes three white men who received significantly less money in disaster relief funds from USDA than if they had been of a different race or sex – filed this case and are asking the court to stop USDA’s blatant discrimination.”
Race-based discrimination is alive and well in America. These measures violate the US Constitution and equal rights protections and create a divide between the people. Biden continues to sign Executive Orders permitting agencies to disregard the Constitution but it is downright unconstitutional and stains our entire political system.
Some insurance companies are altering their policies for corporations and business interruptions, which seems to be in anticipation of government lockdowns for climate change under the label “weather events.” The government seems to be preparing for new lockdowns under the pretense of climate change this summer. It appears that they are preparing to restrict travel starting from early to mid-June. This appears to be part of the agenda being orchestrated to prevent people from traveling for vacations using climate change as an excuse. This is part of a covert action along with the hyping of bird flu to ramp up restrictions and to force more justification for mail-in ballots as they did using COVID.
Our computer has been projecting a Republican victory in 2024. Personally, I cannot see how these Climate Change and Neocons will possibly allow Trump to win. It already appears that they are flooding the nation with 14 million aliens and are counting on them to vote for their free money and free healthcare to return the Democrats to the White House. Throw in this Bird Flu, and now what appears to be climate lockdowns, in addition to trying to seize all of Trump’s properties and sell them to the best Democratic donors for a sing. At the same time, NYC intends to actually send Trump to prison for nonsense that nobody else in history has ever been prosecuted.
I do not care if you are pro-Trump or anti-Trump. This is about completely destroying not just the rule of law but the very fabric of the United States all to retain power. The computer is warning that there may not even be a 2028 election. All I can do is report what the computer has been projecting. This is by no means my opinion or desire.
Don’t Forget to Send a Thank You to Klaus Schwab for Destroying your Future.
Posted originally on Apr 10, 2024 By Martin Armstrong
I have already criticized the March jobs report released by the Bureau of Labor and Statistics. The mainstream media is cheering the 303,000 position boost as proof that the American economy is on the right path. I noted in an earlier blog post that the number of part-time workers rose by 691,000 while the number of full-time workers decreased by 6,000. The Bureau of Labor and Statistics admitted that the number of Americans holding multiple jobs increased by 217,000 or 5.2%, as Americans cannot afford the current cost of living even with wages rising 4.1% YoY.
One additional aspect—not a single manufacturing job was added to the US economy in March. The BLS claims that manufacturing jobs held steady at 12,956,000 from February, although 10,000 manufacturing positions were cut in January.
The Inflation Reduction Act promised to fund the Infrastructure Investment and Jobs Act that was intended to expand American manufacturing. As Yellen and others have openly stated, the Inflation Reduction Act, America’s most expensive spending package, was intended to promote the climate change agenda.
Clean energy manufacturing is not profitable and, therefore, not expanding. “According to third-party estimates, the Inflation Reduction Act’s climate and clean energy tax incentives have the potential to drive investment that will support more than 1 million jobs in energy and related manufacturing sectors over the coming decade,” the US Department of Treasury stated in October 2023.
“To receive increased credit and deduction amounts under the Inflation Reduction Act, taxpayers must:
Pay workers the local prevailing wage, defined in accordance with Department of Labor standards, for work on facility construction, as well as for alterations and repairs in a five-to-twelve-year period, depending on the credit, after a facility is placed in service.
Hire a sufficient proportion of workers from registered apprenticeship programs, including hiring these qualified apprentices for at least 10% of the labor hours spent on facility construction, alteration, or repair work (rising to 12.5% for facilities where construction begins in 2023 and 15% in 2024 and later years)
The prevailing wage and apprenticeship provisions apply to:
the Alternative Fuel Refueling Property Credit (30C)
the Production Tax Credit (45, 45Y)
the Credit for Carbon Oxide Sequestration (45Q)
the Credit for Production of Clean Hydrogen (45V)
the Clean Fuel Production Credit (45Z)
the Investment Tax Credit (48, 48E)
the Advanced Energy Project Credit (48C)
the Energy Efficient Commercial Buildings Deduction (179D)
In addition, the prevailing wage provision will apply to:
the New Energy Efficient Home Credit (45L)
the Zero-Emission Nuclear Power Production Credit (45U)”
The private sector does not wish to invest in alternative or renewable energy projects. The tax credits are not enough of an incentive. The US Department of the Treasury mistakenly believed that the act would provide “taxpayers with a strong incentive to meet high labor standards as they build projects” and “expand well-paying union jobs and support proven pathways into the industry that allow workers to earn while they learn.”
Manufacturing is in fact not expanding. The regulations in place have made it difficult for existing factories to expand or bring on more workers.
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