Tag Archives: Inflation

Aug 6 2022

Good News, Gasoline Prices Drop – Bad News, Demand for Gasoline Plummets to Pandemic Era Levels


Posted originally on the conservative tree house on August 5, 2022 | Sundance 

The good news is that gasoline prices have dropped in the past several weeks to an average of $4.13/gal.  However, the bad news is that most of the drop in price is related to gasoline demand dropping to the same level as July 2020 during the pandemic lockdown phase.

Obviously, $4.13/gal is still a very high price for gasoline, and that is leading to fewer people purchasing gasoline.

(Via Fox) – […] New data from the Energy Information Administration (EIA) shows that gas demand dropped from 9.25 million barrels per day to 8.54 million per day last week. That’s 1.24 million barrels per day lower than last year and “in line with demand at the end of July 2020,” when there were widespread virus-related restrictions and fewer people were hitting the road, according to AAA. 

The latest demand figures bolster a recent AAA survey that revealed 64% of drivers had changed their driving habits or lifestyle since March to offset the high prices at the pump. (read more)

If you think about the position of the Organization of Petroleum Exporting Countries (OPEC or OPEC+), it makes sense for them to recognize the intentions of the western leaders to shrink the western industrial economies and respond accordingly.

OPEC knows North American and European leaders are intentionally reducing economic activity in an effort to lower the economy to match the lower level of energy production. This is the “managing the transition phase” of the Build Back Better agenda, the intentional shrinking of the economy through energy and monetary policy.

Knowing that, it makes sense that OPEC would not produce additional oil into a globally shrinking economic system.  Producing more oil would be against their own economic interests.

Aug 6 2022

Labor Report, 528,000 Jobs Gained in July, Large Gains in Restaurants and Services, Unemployment Rate 3.5%


Posted originally on the conservative tree house on August 5, 2022 | Sundance 

A few days ago, we were discussing the disconnect within the economy as it relates to corporate valuations.  The Bureau of Labor Statistics report today [DATA HERE] highlights another economic disconnect, this time with labor.  According to the BLS survey 528,000 jobs were added to the economy in July, the unemployment rate drops to 3.5%.

The household data [Table A] shows the number of eligible workers unemployed dropped 242,000; however, the number of eligible workers no longer in the workforce increased by 239,000.  The total labor force is shrinking as unemployment drops.

Keep in mind the previous BLS survey of job openings (JOLTS report) showed available jobs dropped 605,000 in July.  “On the last business day of June, the number and rate of job openings decreased to 10.7 million (-605,000) and 6.6 percent, respectively. The largest decreases in job openings were in retail trade (-343,000), wholesale trade (-82,000), and in state and local government education (-62,000).” [JOLTS survey]

Going back to today’s release, 303,000 part-time jobs were added in July; these are workers working part-time for economic reasons.  The Household Data shows that within the leisure and hospitality sector [Table B-1] restaurants and bars added 74,000 jobs.

If we combine both BLS surveys two days apart is: 605,000 job openings cancelled, and 528,000 new jobs gained.

Of the 528,000 new jobs gained, 303,000 were part time jobs with the largest growth in the jobs in restaurants and bars.

Again, blending data from both reports and focusing on retail.  The retail sector cancelled 343,000 job openings in July, and the retail sector added 21,600 jobs in July.  Within the retail sector (table B-1), jobs at automotive dealers, furniture stores and clothing/apparel stores dropped by a combined 7,200 jobs.

BIG PICTURE:  ♦Energy prices are squeezing consumers and paychecks. ♦Energy driven inflation is high.  ♦Rising housing costs, food costs, gasoline costs and energy costs have hit the consumer hard.  ♦Credit card balances have jumped (highest increase since ’02).  ♦Consumer sales on non-essential items have dropped.  ♦Factory activity around the world (Asia and Eurozone) is slowing or has stopped.  ♦Durable goods inventories have climbed everywhere.  ♦Shippers of durable goods are not shipping. ♦Employment in auto sales, furniture and clothing have all declined.  All of these datapoints align.

Everything in that “big picture” is fact based on current data, and it all makes sense.  However, there is still a disconnect in the big picture.

How does an economy add over 4 million jobs this year, while simultaneously shrinking?

The value of those jobs has to diminish in proportion to the economic contraction.  The disconnect only reconciles if the wages which lead to eventual spending.  With wage growth at 5.2% and the cost of everything up 9.1% (inflation), the difference between the two is how the economy shrinks even with more jobs added.

Think of all the activity (buying stuff, eating out, ordering food etc) as units. All of the unit activity costs more money, but the earnings of the workers is only keeping pace with half of the increase in price.  Therefore, less units are being engaged made, sold and purchased.

The GDP, which measures the value of everything created in the economy (minus imports) dropped 1.6% in the first quarter and 0.9% in the second.  The unit economy is contracting.

As I have said before, “an intentionally managed decline of western economic activity should have a direct impact on the private corporations within those economies.  If the politicians are collectively going to stop energy development, raise energy prices (inflation), then use monetary policy to shrink the economy down to the level of energy available, we would normally think corporations were going to make less money.”

However, in our current scenario, as long as price increases (energy inflation) can be passed along and wage gains can remain low, the profitability remains strong.  Here’s the worst part of this dynamic.  The people investing in the profit get richer, the workers creating the profit get poorer.

Our Joe Biden economy, and the economy of the western nations that are following this same climate change agenda, is getting smaller.  Within the smaller economy, the rich are getting richer and the workers within the Joe Biden economy are getting poorer.

Aug 5 2022

Waking Up From a Coma in 2022


Awaken With JP Published originally on Rumble on July 30, 2022

Imagine you woke up from a 19 year coma and it’s the year 2022…

Aug 5 2022

Geopolitical Nightmare


Armstrong Economics Blog/Geopolitical Re-Posted Aug 5, 2022 by Martin Armstrong

My mother died at 99. She had her wits about her til the end. Not everyone loses their mind. Henry Kissinger, I regard as the finest geopolitical analyst in history. That person in the Biden Administration who is the real president writing the scripts is only interested in climate change and the Great Reset. They pushed the sanctions against Russia, which have divided the world and ended the global economy. They are already preparing ways for us to eat bugs. Cricket powder is starting to show up in the food supply.

Meanwhile, there is absolutely no evidence that any sanction against a country has ever worked. Iran has been under sanctions for as long as I can remember. These morons are pushing the world into a serious geopolitical confrontation that will not end nicely. We have reached the 8.6-year turning point from the 2014 Ukrainian Revolution. This does not speak well for what we face in 2023. All I can say is I really hope the Democrats do not allow illegal aliens to vote. I fear that will spark a serious uprising, and then you will get a REAL insurrection — not a fake January 6th event to create publicity for the November 2022 election.

Aug 5 2022

Tucker Carlson Interviews Ron DeSantis After the Florida Governor Suspends Activist Prosecutor


Posted originally on the conservative tree house on August 4, 2022 | Sundance

August 4, 2022 | Sundance | 112 Comments

Tucker Carlson used his opening monologue tonight to discuss George Soros and the efforts of the Soros foundation to fund activist state prosecutors who will not enforce laws. The Soros agenda is an end-run around the U.S. constitution that empowers We The People to enact laws and rules of society through legislative representation.

By selecting prosecutors who will not enforce laws against criminal behavior, the Soros initiative subverts the voice of the people.  Florida Governor Ron DeSantis is the first governor to use his state constitutional authority to remove an activist prosecutor.  Tucker Carlson interviewed him immediately after the monologue. {Direct Rumble Link} WATCH:

The monologue that preceded the interview is below.

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Aug 5 2022

Coordination Between J6 Committee and Politically Motivated DOJ is Intended to Break Attorney-Client Firewalls in Trump Targeting Effort


Posted originally on the conservative tree house on August 4, 2022 | Sundance 

The long-term motives and plans of the J6 committee and their coordination with the DOJ are starting to come into increased clarity as the mid-term elections draw near.

A key indicator of the strategy from within the J6/DOJ effort surfaced when the quasi-constitutional “committee” sent a subpoena to former President Trump legal counsel Pat Cipollone, then leaked the subpoena, then leaked the testimony, then shaped, edited and broadcast the testimony during their prime-time broadcast.   After the J6 broadcast, attorney Cipollene was then subpoenaed by the DOJ and recent reports indicate he is being called to testify before a grand jury.

The legal strategy, hereafter called by what it is, a Lawfare strategy, is now clear.

The legislative branch, specifically the J6 committee, is attempting to use their self-created legislative legal authorities, to fracture long established attorney-client privileges, and then send the results to the DOJ for use against the client of the attorney.  This explains the importance of former White House attorney Lisa Monaco taking up her position as Deputy Asst Attorney General.

The DOJ would be shut down by any ordinary court of jurisdiction, even in the heavily political Washington DC system, if they attempted to get a lawyer to give testimony about his legal advice to a client.  It is one of the most basic tenets and legal privileges in our system.

Attorneys cannot be compelled to give testimony against their clients, it is a standard long accepted in our legal system.  Any attorney who would break the confidence of the attorney-client privilege would lose their license.

Additionally, as the president, other privileges exist for President Trump, specifically the executive privilege to receive counsel or advice -from any person- on any issue that would pertain toward the administration of the executive office.  The president needs to be able to receive information in confidence, and the people giving advice and counsel need to be able to speak freely without fear the content of the conversation would later be used by another entity not involved in the issue at hand.

By compelling testimony to a non-court of manufactured quasi-legal jurisdiction, such as the J6 committee demanding testimony from Cipollone, it now appears the resulting information is being transferred to the DOJ for use against Cipollone’s client, President Trump.

This is an example of lawfare at its worst.

The J6 committee demands testimony and asserts the testimony must be offered without conflict because the J6 committee itself has no criminal authority.

As the issue is argued, the witness cannot be criminally charged by the committee, therefore no criminal liabilities exist for the witness, therefore the testimony can be compelled by the committee (the legislative branch).  However, what we are seeing is the committee being used as a legal shield and enforcement tool by/for the DOJ who could never -on their own- force the same testimony.

The result is President Trump legal counsel Pat Cipollone being compelled to testify before a criminal grand jury, and within that questioning he will be asked about about his prior testimony before the J6 committee.  Essentially, this is one big Lawfare workaround; and likely a legal and constitutional issue that will end up at an appellate court level or higher.

Political elements within the legislative branch (J6) are colluding with political elements within the executive branch (DOJ), to fracture the constitutional protections that exist not only for presidents’ (exec privilege), but also for all Americans (attorney/client privilege).

In ordinary times, this approach would be a jaw-dropping controversy that would come under rebuke from everyone involved in the media and justice system.

What is being described, well, actually what is happening, is what happens in third-world banana republics when presidents of various political regimes take office and then target their opposition using the state police or military.  What is being done under the auspices of the J6 committee and DOJ is an identical scenario using a longer approach that works around the foundation of the U.S. political and legal system.

More alarmingly, there is no one doing anything or saying anything to stop this process.  The republican politicians in Washington DC are as willfully blind to the unconstitutional lawfare scheme as they are to the victims of the J6 FBI and DOJ targeting operation who are languishing in DC prisons.

No doubt former President Obama and his crew are laughing as they watch this play out, while the media cheer.  After all, these are all former Obama officials who are carrying out the targeting operation. [ SEE WHY HERE ]  The Republicans and Democrats created the Fourth Branch of Government as a political targeting mechanism.  Both parties are now protecting themselves from discovery of its intent.

~ Support CTH Here ~

Aug 5 2022

DC Dick Begs Wyoming Voters to Support DC Liz


Posted originally on the conservative tree house on August 4, 2022 | Sundance

Despite the overwhelming support of mainstream corporate media, Wyoming DeceptiCon Liz Cheney is likely to be crushed in the republican primary race on August 16.

In addition to voting to impeach President Trump and being removed from her congressional leadership position, DC Liz was one of only two republican votes to support the formation of the J6 Committee (the other was Adam Kinzinger).  DC Liz has been begging Wyoming Democrats to vote for her in the republican primary contest so she can save her seat.

In an embarrassing and genuinely pathetic last-ditch effort, her father, DC Dick, recorded a campaign commercial begging the people in Wyoming to support his daughter.

Aug 5 2022

Another Former Governor of Puerto Rico, Wanda Vázquez, Indicted for Bribery, Corruption and Wire Fraud


Posted originally on the conservative tree house on August 4, 2022 | Sundance 

Keeping with historic trends in Puerto Rico, another corrupt governor has been arrested and indicted on corruption, bribery and fraud charges.  Wanda Vazquez Garced replaced Ricardo Rosselló after he was accused of racism and having a homophobic cabinet.

During her term in office, millions of dollars’ worth of Hurricane Maria aid was discovered being stored and sold on the black market from various warehouses. [Go Deep]

The hurricane supplies provided by U.S. taxpayers were never given to citizens and were instead being used by government officials and sold to retailers. The Housing Secretary (Fernando Gil), the Department of Family Secretary (Glorimar Andújar) and the director of Puerto Rico’s emergency management agency were all fired as part of the scandal.

Governor Wanda Vazquez lost her primary reelection bid in August 2020, and today was indicted for corruption, bribery and wire fraud.

(Via DOJ) -A former governor of Puerto Rico was arrested today on bribery charges related to the financing of her 2020 campaign.

Relatedly, a political consultant for the former governor and the president of the international bank have also pleaded guilty to participating in the bribery scheme.

“The alleged bribery scheme rose to the highest levels of the Puerto Rican government, threatening public trust in our electoral processes and institutions of governance,” said Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division.  “The Department of Justice is committed to holding accountable those who wrongly believe there is one rule of law for the powerful and another for the powerless.  No one is above the rule of law.”

According to the indictment, from December 2019 through June 2020, then-Governor of Puerto Rico Wanda Vazquez Garced, 62, of San Juan, allegedly engaged in a bribery scheme with various individuals, including Julio Martin Herrera Velutini, Frances Diaz, Mark Rossini, and John Blakeman to finance Vazquez Garced’s 2020 gubernatorial election campaign. (read more)

Puerto Rico has a long history of public corruption and abuse of federal funds.  Back in 2015 ten government officials in Puerto Rico were arrested for corruption, bribery, honest services wire fraud, extortion and various schemes related to giving payments to friends and family via federal contracts. [LINK]  This is the typical corruption PR is known for.

In June 2019, the FBI, Public Corruption Unit, posted a notification of an ongoing corruption probe and provided a tip-line for leads related to bribery and/or corruption of public officials. [LINK] This probe is connected to the billions of dollars U.S. taxpayers have provided to Puerto Rico for recovery after hurricane Maria (2017).

So much money was poured into the island after hurricane Maria that hundreds of local and regional officials seized the opportunity to indulge their friends and family with funds from recovery accounts.  This is the widespread corruption President Trump previously drew attention to.

This open corruption was also why Nancy Pelosi took the entire Democrat caucus to Puerto Rico in January 2019 for a vacation with her favorite lobbyists.  Everyone in/around PR knows this level of corruption is the norm, not the exception.

Later that same year, six more officials were indicted under new federal charges, including two government officials: Julia Keleher, who served as Puerto Rico’s education secretary until April; and Ángela Ávila-Marrero, who was the executive director of the Puerto Rico Health Insurance Administration. They were all variously charged with wire fraud, money laundering and conspiracy, according to the 32-count indictment.

President Trump was exactly right when he both informed and warned voters of what would happen with money dumped into Puerto Rico.

Aug 5 2022

Florida Governor Ron DeSantis Suspends Activist Tampa Area State Prosecutor Who Refused to Enforce State Laws


Posted originally on the conservative tree house on August 4, 2022 | Sundance 

Under the Florida constitution the Governor has the authority to suspend state officials for reasons of misfeasance, malfeasance, neglect of duty, drunkenness, incompetence, permanent inability to perform official duties, or commission of a felony. The Governor has further authority to fill that office by appointing a replacement for the duration of the suspension.  Today, Florida Governor Ron DeSantis suspended Hillsborough County state prosecutor Andrew Warren for failing to enforce the laws of Florida.

Specifically, Andrew Warren had announced he would not enforce laws created by the Florida legislature that were as against his personal political outlooks. Warren publicly stated he would not enforce laws restricting abortion, anti-riot laws, and any law that sought to protect children from adult predators.  “We don’t elect people in one part of the state to have veto power over what the entire state decides on these important issues,” Governor DeSantis said.

Governor Ron DeSantis made the announcement of the suspension and replacement in Tampa, with a group of law enforcement and sheriffs from across the state. WATCH:

This was/is a bold move and Ron DeSantis is well supported in Florida for doing it.

TAMPA, Fla.— Today, Governor Ron DeSantis suspended State Attorney Andrew Warren of the 13th Judicial Circuit due to neglect of duty. The Governor has the authority to suspend a state officer under Article IV, Section 7 of the Constitution of the State of Florida.

The Governor has appointed Susan Lopez to serve as State Attorney for the period of suspension. She has most recently been serving as a Judge on the Hillsborough County Court. To view the order suspending Andrew Warren and appointing Susan Lopez, click here.

“State Attorneys have a duty to prosecute crimes as defined in Florida law, not to pick and choose which laws to enforce based on his personal agenda,” said Governor Ron DeSantis. “It is my duty to hold Florida’s elected officials to the highest standards for the people of Florida. I have the utmost trust that Judge Susan Lopez will lead the office through this transition and faithfully uphold the rule of law.”

“I have the utmost respect for our state laws and I understand the important role that the State Attorney plays in ensuring the safety of our community and the enforcement of our laws,” said Susan Lopez, State Attorney of the 13th Judicial Circuit. “I want to thank the Governor for placing his trust in me, and I promise that I will faithfully execute the duties of this office.”

The Governor has the authority under the Florida Constitution to suspend state officials for reasons of misfeasance, malfeasance, neglect of duty, drunkenness, incompetence, permanent inability to perform official duties, or commission of a felony. The Governor has further authority to fill that office by appointment for the duration of the suspension.

Susan Lopez was appointed by Governor DeSantis to serve as a judge on the Hillsborough County Court in 2021. She previously served as Assistant State Attorney of the 13th Judicial Circuit for more than 15 years and as Staff Attorney of the Second District Court of Appeal. She received her bachelor’s degree from Middlebury College and her law degree from Suffolk University. She is a long-time resident of Tampa and has been involved in the Hillsborough community through a variety of organizations for many years. (read more)

Aug 5 2022

Joe Biden Releases Statement After WNBA Player Given 9 Year Prison Sentence in Russia on Drug Charges


Posted originally on the conservative tree house on August 4, 2022 | Sundance 

WNBA player Brittney Griner was arrested in Russia in February for bringing cannabis oil into the country while traveling for a basketball game.  Griner brought vape cartridges with her containing cannabis oil, a prohibited substance in Russia.  Today the 31-year-old was sentenced to nine years in Russian prison, after she was found guilty of possession and smuggling of illegal drugs.

The Biden administration is attempting to work out a prisoner exchange where Griner and Paul Whelan, a former U.S. Marine detained in 2018 in Russia of espionage charges, would be released in exchange for Russian arms dealer Viktor Bout.

The White House released the following statement:

“Today, American citizen Brittney Griner received a prison sentence that is one more reminder of what the world already knew: Russia is wrongfully detaining Brittney. It’s unacceptable, and I call on Russia to release her immediately so she can be with her wife, loved ones, friends, and teammates.  My administration will continue to work tirelessly and pursue every possible avenue to bring Brittney and Paul Whelan home safely as soon as possible.”