US Consumer Sentiment Reaches 6-Month Low


Posted originally on May 21, 2024 By Martin Armstrong 

American Consumer

Consumer sentiment is continuing its decline amongst Americans. The University of Michigan’s survey monthly survey revealed sentiment fell to a six-month low of 67.4 in May, down from 77.2 in April. Inflation is the primary reason for the loss in confidence, followed by interest rates and geopolitical issues.

Incoming data would lead one to believe inflation is waning from historic highs above 9%, but the average consumer realizes that prices are nowhere near pre-pandemic levels. Taxes are also rising among all income levels, yet this is never accounted for when measuring inflation or the cost of living.

Shelter costs are one of the main factors driving up the cost of living for the average American and are the primary source of pay drain.

The Labor Department’s April jobs report failed to meet expectations, while the unemployment rate rose to 3.9% from 3.8% in March. This does not account for the nearly 8 million new arrivals who are unable to work and rely on US taxes for survival. Then we have Biden signing countless legislation to curb America’s gig economy which has made it increasingly difficult for the working class. All of those under the table jobs will be long done once we move to a cashless society.

The Federal Reserve has repeatedly stated that there is simply no evidence to suggest that lowering interest rates could help stabilize prices. The Fed has been issuing the same message after each Federal Open Market Committee — they’re hopeful but do not see the results yet, or in other words, please don’t lose full confidence in our economy just yet despite the clear issues we face now and will face going forward.

Ben Bergquam – The Border Is Worse Than We Thought, But Trump Has A Plan To Deport The Illegals


Posted originally on Rumble By X 22 Report on: May 17, 2024 at 3:31 pm EST

They Are Coming for Alito and It Has Nothing to Do With Upside Down Flags


Posted originally on the CTH on May 19, 2024 | Sundance 

You are not going to like this, and most will say I’m nuts. However, with more than a dozen years of crazy “right-wing conspiracy theories” proven out in real time, I hope the long-time readers will adjust their perspectives and affairs accordingly.

The IC is coming after Judge Sam Alito, but not because of his non pretending, general J6 disdain, solid grasp on the fraud that is Joe Biden, or his wife having an upside-down flag (although the non-pretending aspect is very troubling for them). No, the IC has been coming for Justice Alito since Chief Justice John Robert’s internal court counselor’s lead office staff, Sheldon Snook, the husband of Mary McCord, leaked the Alito decision [Dobbs Decision] overturning Roe and sending the abortion issue back to the states.

The Sheldon Snook leak, hidden by Justice Roberts due to the origination from his office, is the structural compromise within the court that gives the IC leverage over the third branch of government.  In a strange situation, Judge Alito appears to be holding the line and forcing the IC to come out of the shadows after him.  My hunch is he’s just had enough.

There was a recent decision by the Supreme Court to validate the funding mechanism for the Consumer Financial Protection Bureau (CFPB), a racketeering operation of government created by Elizabeth Warren {GO DEEP – AMY HOWE} {GO DEEP – Background}.

The CFPB is supposed to protect consumers from predatory financial systems.  That was the selling point. However, the CFPB is paid by (read “funded by”) the Federal Reserve to protect the interests of the U.S. dollar reserve system; that’s the deep state motive (you’ll see why later).  The other motive is the CFPB blackmailing the financial sector to support Democrat operations and policies – or else [we’re not supposed to talk about that part].

What few people paid attention to recently, including Amy Howe of SCOTUS blog, was….  the 7-2 decision not only approved the funding mechanism as constitutional (it’s not), but the high court also reversed itself on the 2020 decision about the constitutionality of the CFPB itself.  Why reverse itself in only four short years?  That’s where you need to see the leverage and insert John Roberts hiding the Sheldon Snook leak.

2017 SCOTUS had issues with the CFPB’s constitutional structure.  2020 SCOTUS still has issues with the CFPB’s constitutional structure.  2024 SCOTUS suddenly says ‘all good’ to CFPB funding and constitutional structure.  What changed?  Court is compromised by hiding the Dobbs leak.

However, Justice Alito…. same justice who wrote the Dobbs decision….  wrote the dissenting opinion on the CFPB construct (joined by Gorsuch).

AMY HOWE – In his dissenting opinion, Alito rejected Thomas’ recounting of history, arguing that the drafters of the Constitution “would be shocked, even horrified, by” the CFPB’s funding scheme. Offering his own detailed version of history, Alito concluded that “centuries of historical practice show that the Appropriations Clause demands legislative control over the source and disposition of the money used to finance Government operations and projects.”

But the CFPB’s “unprecedented combination of funding features,” Alito wrote, “affords it the very kind of financial independence that the Appropriations Clause was designed to prevent. It is not an exaggeration to say that the CFPB enjoys a degree of financial autonomy that a Stuart king would envy.”

And that autonomy, Alito continued, “has real-world consequences.” Alito noted several “major” changes to consumer protection law that the CFPB has recently announced, including guidance indicating that financial institutions should not deny credit to consumers based on their immigration status, as well as a proposed rulemaking to cap overdraft fees and remove medical bills from credit reports. “These may or may not be wise policies,” Alito concluded, “but Congress did not specifically authorize any of them, and if the CFPB’s financing scheme is sustained, Congress cannot control or monitor the CFPB’s use of funds to implement such changes.” (MORE)

Alito is correct, but that’s not the core issue.

The CFPB is funded by the federal reserve, and will be a key player in the implementation of the dollar-based Central Bank Digital Currency (D-BCBDC).   Likely, the CFPB will be the authorizing agency for the major banks that will facilitate digital currency transactions; this puts the CFPB in the position of power with the mechanics of central control. This is why Senator Elizabeth Warren is the key player in both the CFPB (she created it) and the currently ongoing legislation against crypto currency.

The D-B CBDC is almost certainly going to happen.  Too much blood and treasure (NATO push + Ukraine use) has been shed to construct the financial walls that support it (Russian sanctions). Additionally, the issues are too complex for the average person to engage in opposition.

In related news, just as Australia was the tip of the spear in the COVID-19 vaccination enforcement effort, so too is the nation down-under the leading organizer of the digital identity that forms the baseline for the digital currency distribution model.

AUSTRALIA – […] The Digital ID Bill 2024 and Digital ID (Transitional and Consequential Provisions) Bill 2024 passed through the House of Representatives on the evening of 16 May in what the Department of Finance is calling a “milestone for the program”.

“This provides certainty for the expansion of the Australian government digital ID system and for providers and services to apply to join the government’s system. An economy-wide digital ID system will provide many benefits to Australians by improving privacy and security when interacting online,” the department said in a statement.

“It will also strengthen the voluntary Accreditation Scheme for digital ID service providers that wish to demonstrate compliance with best practice privacy, security, proofing and authentication standards, providing Australians with more choice of secure and trusted providers.”

Once the act comes into effect, the Australian Competition and Consumer Commission will be the digital ID regulator, with the Office of the Australian Information Commissioner regulating the privacy aspects of the new system. (read more)

As most will remember, the European Union has already constructed their digital identity via the mandated COVID-19 Passport process.  For the key components, the EU is already digital id compliant thanks to COVID.

The Russian sanctions were not created to block the Russians.  The Russian sanctions were created to wall-in the West.

There are now networks of people who operate in various places that create proactive financial mechanisms for what you might call, “financial preppers.”

These people and groups set up bank accounts in foreign countries for you; they organize addresses (needed), phone numbers (needed), and create accounts that you can access that are outside the control of the dollar-based financial system.  You can even get an official passport in the process.

These people also sell hardware [to support the phone numbers (really digital ids)] that is completely different from what exists behind the wall of the yellow zone.

How many Americans know that an iPhone-15 sold in the USA is completely different from an iPhone-15 sold outside the yellow zone? Meaning, the internal hardware is different.  How many Americans know that?

How many Americans know that an iPhone-15 sold inside the USA has different originating software than an iPhone-15 sold outside the USA?

How many people know that when you purchase one of these “ghost phones”, the data network automatically identifies the disparity when the phone crosses into the yellow zone, and shortly thereafter the cellular network transmits a software update to bring the “ghost phone” into USA (yellow zone) compliance?

How many Americans know phone apps, and internal app functions, can exist on phones outside the yellow zone that do not exist inside the yellow zone?

Example: use a ghost phone, and you can access a digital wallet in Telegram; you can transmit funds to other Telegram users. However, use a USA compliant phone and you cannot.  The function is there, but the service is, “not available in your area.”

Why?

It’s about control.

If you don’t update the software, the function exists inside the yellow zone.  However, update the software, and the function disappears.

This happens.

Another real-life example was recently missed by many people when the story of the Apple Watch Series 9 was found to have violated patent technology and was banned for sale in the USA. {STORY}

To get into legal compliance, Apple transmitted a remote software update disabling the function of the patent technology in the USA.  Again, for emphasis, only in the USA.   Bring your non-compliant Series-9 into the range of a wifi network, and bingo – auto-compliance.  I mention this story only to highlight a modern compliance capability that many people do not know exists.

In essence, your tech devices – and the capability therein – are different than an identical tech device sold outside the Western control zone.

♦ Technology is intertwined with Central Bank Digital Currencies.  Tech companies are regulated by the U.S/Western government, and the tech companies have to comply.  The regulatory compliance is part of the process of control.  There are regulatory walls around us that most do not understand.  The same regulatory principle applies to finance and banking. Hence, the origination motive of the yellow zone wall, built under the auspices of Russian sanctions.

Let me make one big point resoundingly clear. When the WESTERN Central Bank Digital Currency system begins, all forms of cryptocurrency will be blocked and made unlawful inside the Western zone – either by regulation or by legislation.

Let me repeat this.  Cryptocurrency in all forms will be banned.

Crypto is not technically a currency; it is a barter based on trust.  However, at a certain point (origination or end) crypto must have the ability to transfer into currency value. Dollars (or another currency) are needed to purchase BitCoin,…. or BitCoin eventually sold or exchanged for Dollars (or another currency).  [BitCoin only used as a familiar type of crypto.]  This process is where crypto gets blocked.

Ownership of Crypto may not be unlawful, but any effort to use Crypto as an alternate digital currency to exchange value will be unlawful once the dollar based CBDC is launched.

A fully implemented govt controlled central bank digital currency will not allow competition.  Alternate digital currency will be banned.

Ultimately, a dollar-based US-Central Bank Digital Currency, ie a “digital dollar,” is about control.

Every transaction has a unique digital fingerprint, and every digital dollar can be traced by the IRS to the digital id associated with it.

There is a BIG difference between electronic funds (current), and a digital dollar (future).

CFPB Background

CBDC Background

Hearts of Oak: Mike Yardley – Navigating Censorship, Democracy, and the Future of Free Speech


Posted originally on Rumble By Bannons War Room on: May 18, 2024 at 02:00 pm EST

Kash Patel-The Constitutional Guillotine: The End Of The Deep State


Posted originally on Rumble By Bannons War Room on: May 17, 2024 at 08:00 pm EST

NYC Mayor Proposes Solution for Lifeguard Shortage


Posted originally on May 17, 2024 By Martin Armstrong 

Eric.Adams_.SanctuaryCity

The Democrats are looking for any possible way to expedite the immigration process for future blue voters. Eric Adams flops between crying to Washington for forcing the migrant crisis upon his sanctuary city and looking for ways to support its agenda. Since Democrats cannot be racist, Eric Adams offered a newly proposed solution for New York’s lifeguard short–migrants, who are “excellent swimmers.”

If Trump or any Republican made this statement, it would be blasted on the front page of every paper throughout the country. He’d be forced to make a public apology.

“How do we have a large body of people that are in our city, in our country, that are excellent swimmers and at the same time we need lifeguards — and the only obstacle is that we won’t give them the right to work to become a lifeguard,” the mayor said.

A spokesperson for the mayor clarified that it is impossible for a Democrat to be racist. “With more than 197,000 migrants who have come through our care since the spring of 2022, Mayor Adams has been clear that there is nothing more un-American than not allowing someone to work,” the spokesperson stated. “Anyone who is trying to make more out of the mayor continuing to make that point (Tuesday) is missing the forest for the trees.”

Adams said the bureaucracy is “in the way, ” preventing migrants from taking on jobs. The “bureaucracy” or in other words immigration papers to provide fast-tracked immigration status to unvetted illegal migrants who came to America from throughout the world. “If we had a plan that said, ‘If there was a shortage of food service workers and those who fit that criteria, we’re going to expedite you; if you have experience that you are a nurse and we have a nursing shortage, we would expedite you,’” Adams also stated.

As of April 2024, there were 6.5 million unemployed Americans, with the unemployment rate hovering around 3.9%. The left’s previous claims were that skilled labor was essential to import. The United States is facing a shortage of doctors, pilots, engineers, and other roles that require higher education.

America does not need to import millions of people to fill unskilled labor roles.

Scott Bessent Unpacks the Latest Bidenflation Numbers: Americans Are In Crisis


Posted originally on Rumble By Charlie Kirk show on: May 14, 2024 at 5:30 pm EST

US Implements High Tariffs on Chinese Goods


Posted originally on May 15, 2024 By Martin Armstrong 

Trade War 2

Worsening relations with China, the United States just hit China with a new wave of extremely high tariffs. Around $18 billion worth of Chinese goods will be affected, but the White House deems the tariffs necessary to help American industry.

Washington wants everyone to drive an electric vehicle, so long as it is not produced in China. The current 25% tariff on Chinese EVs will rise to 100%, utterly eliminating any EV trade with China. US Trade Representative Katherine Tai said that tariffs on lithium-ion batteries, essential for EVs, will triple in 2025 – the same time that Washington expects the masses to curtail their fossil fuel use.

Semiconductors, a long-debated product in short supply, will double from 25% to 50%. A recent report by McKinsey consultants shows that US companies are struggling to hire and retain staff in this delicate sector. The $52 billion in subsidies provided by Washington under the CHIPS Act has not made a meaningful impact. Still, they expect production in the US to grow simply because we are making it difficult for China to import their goods in a competitive landscape. They fail to consider the impact of shortages on the overall market.

Treasury Secretary Janet Yellen has praised the new round of tariffs, claiming that free trade with America’s top partner is bad for American businesses. “China’s overcapacity distorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world,” Yellen misspoke. America does not operate on the mercantilism model; we are a consumer economy. All of these tariffs will cause prices to rise for the already struggling consumer.

Biden insists that consumers will see “no increases on costs” and repeatedly stated that these tariffs will not impact inflation. Do you recall the semiconductor shortage of lately when people could not purchase new phones without weeks or months of waiting, as one small example? Then they are pushing everyone to go electric while eliminating foreign competition. China WILL retaliate and mark up American goods, but worse, they will continue offloading their purchases of US Treasuries.

This is yet another example of disastrous fiscal policies that will invariably harm the American consumer and economy as a whole.

Panama to Curb Migration Through the Darien Gap


Posted May 15, 2024 By Martin Armstrong 

Red Cross Panama

President-elect Jose Raul Mulino of Panama is taking on the migrant crisis as one of his first pieces of legislation. “Panama and our Darien [Gap] are not a transit route. It is our border,” Mulino said, referring to the notorious Darien Gap between Panama and Colombia that has become a favored travel route for migrants en route to America. The number of crossings multiplies each year, with an estimated 500,000 people passing through last year alone.

Mulino is reversing the policies of the previous government who aided migrants in their voyage to America. His new plan involves illegally deporting anyone found in Panama. “Because when we start to deport people here in an immediate deportation plan, the interest for sneaking through Panama will decrease,” Mulino said of the plan, according to Voice of America. “I assure you they are going to say that going through Panama is not attractive because they are deporting you.”

Some question whether Panama has the ability to conduct mass deportations. You have the Biden Administration openly flying migrants into America. Panama and other Southern American nations are paying the price for America’s open border policy. In all actuality, we cannot expect a foreign nation to secure our borders when leadership is openly inviting foreigners to come to America.

Panama has its own issues to focus on. The International Monetary Fund believes GDP will drastically slow from 7.3% in 2023 to 2.5% in 2024. Fitch downgraded Panama’s credit rating, stamping the nation with a junk status for “fiscal and governance challenges.” The Panama Canal’s capacity has been reduced due to droughts, and some regions are facing water shortages. The next president of the United Stated will see Panama’s efforts to curb migration as an olive branch or an obstacle, and any trade or aid will depend on November’s outcome.

Joe Biden Announces Tariffs on Non-Existent Products from Non-Existent Origination Country – Here’s Why


Posted originally on the CTH on May 14, 2024 | Sundance

BlackRock investment firm writes the regulatory and economic policy for Joe Biden’s administration. That’s the quid-pro-quo that maintains the Biden political financial operation. All of DC know it. No one does not know. The one’s who claim they do not know about it are all pretending. Republicans take the background BlackRock bribes and pretend.

BlackRock positioned massive investment assets inside Chinese auto manufacturers, MG, BYD, and Chery. The three Chinese companies are in the process of moving North American auto manufacturing to Mexico, specifically to make EV’s. The Chinese EV’s made in Mexico will come into the U.S market tariff free under the USMCA trade agreement. China and BlackRock will make billions.

Today Joe Biden announced a series of tariffs against China in the EV industry. [SEE HERE] The Chinese EV’s are not being made in China. The tariff regime is a farce a total joke.

Biden might as well be announcing tariffs on Chinese swimming pools flown into the USA via hot air balloon.  There will be more Chinese swimming pools delivered from China than Chinese EV’s.  The Chinese EV’s come from Mexico.  The tariff is fake.

WHITE HOUSE […] To further encourage China to eliminate the acts, policies, and practices at issue, and to counteract the burden or restriction of these acts, policies, and practices, the Trade Representative shall modify the two actions to increase section 301 ad valorem rates of duty for the following products from China:

  • Battery parts (non-lithium-ion batteries):  Increase rate to 25 percent in 2024;
  • Electric vehicles:  Increase rate to 100 percent in 2024;
  • Lithium-ion electrical vehicle batteries:  Increase rate to 25 percent in 2024;
  • Lithium-ion non-electrical vehicle batteries:  Increase rate to 25 percent in 2026;
  • Natural graphite:  Increase rate to 25 percent in 2026;
  • Other critical minerals:  Increase rate to 25 percent in 2024; (read more)

.

None of this stuff is coming from China.  It is all coming from Mexico via transnational shipping and Chinese manufacturing in Mexico. [Check Date]

On the EV issue, this tariff approach is politically duplicitous by Biden against the backdrop of massive investment in Mexico by the three largest Chinese EV automakers. Last December the three Chinese auto manufacturers, MG, BYD, and Chery, announced they were going to spend billions building new EV manufacturing plants in Mexico.  Each Chinese auto manufacturer was going to spend between $1.5 to $2.0 billion.

Those Mexican built Chinese EV’s would pass into the USA market under current USMCA trade rules and regulations, as long as they technically meet the material origination rules.  This can make tariffs against the Chinese imported EVs a moot point, because China will be making them in Mexico (North American trade agreement).

One of the reasons President Trump said the U.S. auto industry would suffer a “bloodbath,” is specifically because the current Chinese auto companies are targeting these EV’s in the $10,000 or less range.  If you want to see what it looks like when cheap Chinese EV’s start to flood a consumer market, visit Russia – the western sanctions have only increased this flow.  I can see it clear as day.

China plans to pump out thousands of cheap, what I would consider semi-disposable, electric cars into the USA market. That’s why they have invested so heavily in Mexico.  Keep in mind, Blackrock (a Biden benefactor investment firm) is enmeshed with this Chinese move.

This tariff claim by the Biden administration on “import Chinese EV’s” is optics only for political benefit.  Whereas the 100% tariffs proposed by Donald Trump specifically target Chinese EV’s made in Mexico.

Stand back and elevate your thinking on this Chinese EV issue; the substance of it is a consequence of a much larger dynamic.  It is somewhat of a self-fulfilling prophecy.

There is a cleaving underway, a dedollarization that continues in global trade.  Nations are no longer relying (dependent) on dollars as the baseline for trade parity; they are determining their own nation to nation trade valuations outside the use of the dollar as a benchmark.

The result of this dedollarization taking place is massive inflation inside the USA that continues as the dollar (yellow zone) is weakened against the increasingly non-dollar-aligned world (grey zone).  The frequency of dollar use is lessening as alternatives are being used.

Trade into the yellow zone still requires a benchmark of dollars, but bilateral trade within the grey zone increasingly does not.  This is the root of the global financial and economic cleaving.  Mexico is not stupid.

China is trying to position their transportation sector (auto, planes, trains and mass transit manufacturing) as Apple manufacturing is to cell phone use.  Some of these disposable Chinese electric vehicles are actually impressive, which makes sense when you consider that China steals the engineering and design elements from knuckleheaded western corporations who use China for industrial manufacturing (see Tesla etc).