Tag Archives: Starvation

Jun 9 2022

Bolsonaro Implies Doubt on Biden Election Ahead of Latin America Summit


Posted originally on the conservative tree house on June 8, 2022 | Sundance

Brazilian President Jair Bolsonaro wasn’t just throwing shade at the 2020 election outcome for Joe Biden, Bolsonaro seemingly ponders the question about how many western leaders might be the result of WEF manipulated elections.  All things considered; it is a valid question.

SAO PAULO, June 7 (Reuters) – Brazilian President Jair Bolsonaro on Tuesday cast doubt on the 2020 election victory of U.S. President Joe Biden, just two days before they are due to meet for the first time during the Summit of the Americas.

Bolsonaro, an outspoken admirer of former President Donald Trump, said in a TV interview that he still harbors suspicions about Biden’s victory and he again praised Trump’s government.

In 2020, the Brazilian leader voiced allegations of U.S. election fraud as he backed Trump. Bolsonaro was also one of the last world leaders to recognize Biden’s win.

“The American people are the ones who talk about it (election fraud). I will not discuss the sovereignty of another country. But Trump was doing really well,” Bolsonaro said. “We don’t want that to happen in Brazil,” he added. (read more)

With the totalitarian comfort we have seen from multiple western governments’, in both scale and scope, it does make you wonder just how far they would be willing to go to retain power.   After all, there are trillions at stake.

Jun 8 2022

The Brazilian Election: Bolsonaro v Lula 


Armstrong Economics Blog/Politics Re-Posted Jun 8, 2022 by Martin Armstrong

Former Brazilian President Luiz Inácio Lula da Silva (r. 2003–2010) will run against President Jair Bolsonaro this October. The former president was recently cleared of corruption charges after being convicted of money laundering and corruption whereby he was sentenced to nine and a half years behind bars before it was later extended to 12 years. The former president, nicknamed Lula, was later declared innocent for his role in “Operation Car Wash,” and is now eligible to run against Bolsonaro.

Lula once enjoyed the title of Brazil’s most popular president with an approval rating surpassing 80%. The leftist leader has a rags to riches background and made promises to end hunger and boost social programs. “In his time in office, Lula pumped billions of dollars into social programmes [sic] and can reasonably claim to have helped reverse Brazil’s historic inequalities,” the BBC stated.

Early polls indicate that Lula may be a favorite over Jair Bolsonaro. Voting is required in Brazil, and the 2018 election turnout was close to 80% of the population. According to Polling Data, as reported by AS/COA Online, Lula is currently in the lead with 43% of respondents saying they would vote for him. Bolsonaro lagged behind with only 31% showing support, while the other candidates failed to reach double-digit figures.

Unfortunately for Bolsonaro, 62% of Brazilians believe their economy is on the wrong path, and only 35% approve of the Bolsonaro Administration. As of May, 68% of respondents said they already knew who they were voting for in the election. The race is likely to be close, but the Bolsonaro Administration will need to provide the people with faith in the future of the Brazilian economy if he plans to beat his popular opponent.

Jun 8 2022

Biden Cabinet Members Admit There is Nothing More That Can Be Done to Lower Gas Prices


Posted originally on the conservative tree house on June 7, 2022 | Sundance 

It looks like the Biden administration has quit pretending about their energy policy. Joe Biden’s Commence Secretary Gina Raimondo and Treasury Secretary Janet Yellen both threw in the towel on gas prices today saying, “there isn’t very much more to be done.”

The high gas prices are an intended feature of the climate change ideologues controlling U.S. energy policy. WATCH (44 secs):

Janet Yellen soundbite below.

Joe Biden’s Treasury Secretary Janet Yellen conceded that President Joe Biden has already done “everything” he can on gas prices, during a Senate Finance Committee hearing on the budget.  WATCH (36 secs):

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Jun 7 2022

Gates funded “Biomilq” + the formula shortage || Allison Royal


By AlisonMorrow  originally Published on Rumble on June 3, 2022 

What is BIOMILQ and how is it connected to the formula shortage? Former TV reporter Allison Royal discusses her recent report about laboratory-made infant formula, funded by Bill Gates, Zuckerberg and others. An interesting point she makes is Gates funding of media (in this case The Guardian) and their reporting on the formula shortage, disparaging breast feeding.

Jun 7 2022

European Debt Crisis Explained


Armstrong Economics Blog/Humor Re-Po sted Jun 7, 2022 by Martin Armstrong

The European Union failed to consolidate debt when creating its European utopia. Policymakers are solely to blame for creating their debt crisis, and it is hard to believe that no one saw this coming. The creation of the euro and European Union was so poorly planned that it is another example of comedy writing itself.

Jun 7 2022

NBC Report, National Avg Gasoline Prices Likely to Reach $6/Gal by Labor Day


Posted originally on the conservative tree house on June 6, 2022 | Sundance

Surprisingly this NBC report admits the obvious.  The national price of a gallon of unleaded regular gasoline is projected to hit $6.00/gal by Labor Day.  Some states like California are already exceeding that amount, with reports that some CA gas stations are near $10/gal.  WATCH (1:08 sec):

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Jun 7 2022

Biden Administration Declare National Emergency for Clean Energy Production, Invokes Defense Production Act to Facilitate Faster Transformation of Energy Economy Away from Fossil Fuels


Posted originally on the conservative tree house on June 6, 2022 | Sundance

Earlier today, Joe Biden, working toward the agenda of Elizabeth Warren, Bernie Sanders, Wall Street multinationals, and the radical climate change activists within the far left of the socialist democrat party, declared a national emergency around the issue of U.S. energy prices and policies. [SEE HERE]

On the front side of the justification, the people in control of the Biden administration, claim that current and future increases in energy prices are likely to do severe damage to the economy and the lives of all Americans.  However, in the background of the issue, this is the ‘never let a crisis go to waste’ phase of an energy crisis the administration has intentionally created.

The real goal is to fundamentally transform the foundation of the U.S. economy away from fossil fuels and into a new era of clean renewable energy. This is what all of the Biden cabinet officers now refer to as the “economic transition” phase.

Joe Biden’s executive announcement today is the triggering of increased federal government control over the United States energy system.

Ideological government intervention, completely disconnected from the free market, is facilitated by the declaration of a federal national emergency:

[WHITE HOUSE] – Today, President Biden is authorizing the use of the Defense Production Act (DPA) to accelerate domestic production of clean energy technologies – unlocking new powers to meet this moment. Specifically, the President is authorizing the Department of Energy to use the DPA to rapidly expand American manufacturing of five critical clean energy technologies:

  • Solar panel parts like photovoltaic modules and module components;
  • Building insulation;
  • Heat pumps, which heat and cool buildings super efficiently;
  • Equipment for making and using clean electricity-generated fuels, including electrolyzers, fuel cells, and related platinum group metals; and
  • Critical power grid infrastructure like transformers.

In deploying the DPA, the Biden-Harris Administration will strongly encourage the use of strong labor standards, including project labor agreements and community benefits agreements that offer wages at or above the prevailing rate and include local hire provisions. The Administration also will strongly encourage projects with environmental justice outcomes that empower the clean energy transition in low-income communities historically overburdened by legacy pollution.

Following this announcement, the White House and the Department of Energy will convene relevant industry, labor, environmental justice, and other key stakeholders as we maximize the impact of the DPA tools made available by President Biden’s actions and strengthen domestic clean energy manufacturing. (more)

The Biden administration then immediately triggered the Defense Production Act for the U.S. government to: (a) suspend tarrifs; and (b) take control over procurement for all key components needed in the transition from fossil fuel to solar energy.   The products will come from Southeast Asia as the main hub of solar equipment is not located within the United States. DPA Excerpt:

[…] exported from the Kingdom of Cambodia, Malaysia, the Kingdom of Thailand, and the Socialist Republic of Vietnam, and that are not already subject to an antidumping or countervailing duty order as of the date of this proclamation, and to temporarily extend during the course of the emergency the time therein prescribed for the performance of any act related to such imports. (read more)

The DPA emergency authorities have been given to the Dept of Commerce and the people working under Commerce Secretary Gina M. Raimondo, the former governor of Rhode Island.  Each of the DPA’s released today targets specific components of the solar industry [SOURCE LINK].

Obviously, this massive shift in the governmental takeover of energy development is part of facilitating the aforementioned “Green New Deal.”  The approach follows a pattern that is transparent for those who are capable of accepting things as they are, not as we would wish them to be.

Joe Biden shut down domestic energy development, cancelled pipelines, cancelled leases, retracted the ability to drill in ANWAR (Alaska), and triggered massive new regulatory approaches from the Commerce, Interior and Energy departments.  The resulting increases in oil, natural gas, gasoline, electricity and energy costs overall – which became fuel on the furnace of inflation, have now created the energy crisis that Joe Biden is declaring a national emergency to solve.

Biden himself has no idea what is happening; he is simply following the instructions of the policy operators who are in control of the administration.  It is the people in the circles of Elizabeth Warren, Bernie Sanders and the climate change activists within the DC bureaucracy that are executing the nuts-and-bolts shifts.  They tell Biden what to do, and he cluelessly does it.  We are the people who end up paying the price for their effort.

It would appear the primary goal is to push everything as fast as possible beyond an infrastructure threshold that could be reversed if/when the radicals are rebuked by the victims, us.

The democrat-socialists are ‘all-in‘ on this economic kamikaze mission.

The radicals took off on inauguration day with a nuclear economic device and only enough fuel for a one-way trip.  They are nearing their destination.

Jun 7 2022

Biden Administration Quietly Raised Amount of Ethanol Required in Summer Blend Gasoline from Ten Percent to Fifteen, Three Predictable Problems Will Surface Soon


Posted originally on the conservative tree house on June 6, 2022 | Sundance 

Last Friday the Biden administration raised the mandatory amount of biofuel, specifically ethanol, that must be blended within the U.S. gasoline supply.  The previous amount of 10% (summer blend) was raised to a year-round 15% (waiver) by the Environmental Protection Agency (EPA).  This is likely to lead to two sets of bigger issues, less food and higher gas prices.

♦ First issue. – The Renewable Fuel Standard (RFS) is a government mandate, passed in 2005 and expanded in 2007, that requires growing volumes of biofuels to be blended into U.S. transportation fuels like gasoline and diesel every year.  Approximately 40 percent of corn grown in the U.S. is used for ethanol.  Raising the amount of ethanol required in gasoline will result in the need for more biofuel (corn).  With farming costs and outputs already under pressure this could be problematic.

♦ Second issue – The EPA enforces the biofuel standard by requiring refineries to submit purchase credits (known as Renewable Identification Numbers, or RINs) to the Environmental Protection Agency (EPA) proving the purchases.  This enforcement requirement sets up a system where the RIN credits are bought and sold by small refineries who do not have the infrastructure to do the blending process.  They purchase second-hand RIN credits from parties that blended or imported biofuels directly. This sets up a secondary income stream, a trading market for the larger oil companies, refineries and importers.

The RIN credit trading platform is similar to what we might expect to see if the ‘Carbon Trading’ scheme was ever put into place.   However, now that summer biofuel requirements for blended gasoline have gone from 10% to 15%, the price of the RIN credits will likely jump.  This will cost refineries billions in additional expenses,…. which will mean the cost of the gasoline from the refineries will increase,….. which will mean the cost of the gasoline at the pump will go higher.

The EPA theory is that RIN credits should be expensive thereby forcing all oil refineries to invest in infrastructure that makes the blended fuel.  All of the infrastructure from the refinery to the gas station would need to be modified to facilitate the new 15% RFS standard.  Again, higher prices at the pumps as a result of oil companies and refineries needing to spend billions on upgrades.   Which brings us to issue number three.

♦ Third Issue – “Ethanol is a valuable source of octane in finished gasoline, but it is chemically different than petroleum gasoline and cannot be used in concentrations above 10 percent in small engines — like outboard boat motors, motorcycles, lawnmowers, generators or chain saws — or in any cars made before 2001. Complicating matters further, most cars on the road today still aren’t warrantied to run on gasoline with more than 10 percent ethanol. Retail stations also must have compatible infrastructure in order to sell gasoline with higher ethanol blends.”  This issue is known within the industry as “The Blend Wall.”

The net result of Joe Biden’s EPA raising the mandatory amount of biofuel that must be present in the U.S. gas supply is this:

(1) Less food as more corn is needed for ethanol.

(2) Higher prices for finished and blended gasoline.

(3) Vehicle engines breaking down at a much higher rate. 

The predictable Biden outcome is the absolute worst scenario for the middle-class.

ABC Article on the EPA change HERE.

AFPM Background Information HERE.

WASHINGTON – “The American Fuel & Petrochemical Manufacturers group, which represents refineries, called the 2022 figure “bewildering and contrary to the administration’s claims to be doing everything in their power to provide relief to consumers.” The group said unachievable mandates will increase fuel production costs and keep consumer prices high.” (more)

Jun 6 2022

One-Third of High-Income Earners Live Paycheck to Paycheck


Armstrong Economics Blog/Inflation Re-Posted Jun 6, 2022 by Martin Armstrong

Inflation does not discriminate based on income. According to a new Bloomberg report, over one-third of Americans earning at least $250,000 annually are living paycheck to paycheck. Only 5% of the nation earns over $250,000 per year, and this is who the politicians would call “the rich.” One in ten noted that they struggled to cover their household expenses in April.

This is especially true for Millennials who lack decades of savings and were forced to purchase housing and other big-ticket items at the historically high price levels.  Among those earning $250,000 or more per year, 55.4% of Millennials reported living paycheck to paycheck compared to 26% of Boomers. In the $100,000 to $150,000 income range, 63% of Millennials reported an inability to save compared to 26% of Boomers.

Living paycheck to paycheck comes with the risk of slipping into debt. The Federal Reserve recently reported that 78% of Americans believed they were living comfortably financially, but they may be seeing the situation through rose-colored glasses. One in nine respondents from the same Fed survey admitted that they could not afford a mere $400 emergency expense. In this current economy, the wise are reassessing their spending as inflation is not expected to decline anytime soon.

Jun 5 2022

Is the WEF Running Canada?


Armstrong Economics Blog/WEF Re-Posted Jun 5, 2022 by Martin Armstrong

The Canadian National Post has reported on the rising concern that the World Economic Forum is making all the calls as to what the Canadian government should do. They admitted that this question has “gained remarkable currency among Canadian[s]” particularly since the events of the Freedom Convoy. While they concluded that the WEF is not controlling Canada, implying this insanity is all the brainchild of Trudeau, they admitted that “it’s not entirely crazy to jump to the conclusion that an international cabal of ultra-elitists is secretly pulling the strings on world affairs (particularly when they keep claiming as much).”

I recently finished another documentary where I was actually asked: “Would you debate Schwab?” I answered “Yes!” I explained that throughout my career, I have been butting heads with academics worldwide. The ONLY one I met who was actually interested in how the world functioned was Milton Friedman who I cherish his autographed photo I keep on my shelf – not a bust Lenin as is the case with Schwab, which really is on his shelf.

I was impressed with Milton Friedman who came to listen to me speak in Chicago. When I was finished, he came up and said: “Hello. I’m Milton Friedman. That was the best speech I ever heard.” I was probably the largest foreign exchange adviser in the world. That is what made my company so famous. I have told the story before that prior to 1985, I was in Geneva having lunch with the head of one of the major banks in Switzerland. I had prepared a list of names like European Advisers I was going to open an office in Europe. I asked his advice on what name to use. He told me to name one European analyst. I was embarrassed for I could not. I apologized and said I’m sure there must be, but I just did not know of any. He chuckled and said there were none.

He then explained to me how currency had become political so no analyst working for a bank would dare say that their currency would decline. That would have been a political statement against the government. After World War II, politicians used their rise in the currency as a political validation that their policy was correct and so vote for them.

He said to me, that the reason everyone uses you is that you “do not give a shit if the dollars goes up or down!”  He explained to me why we had become so big on a global scale. As an American, saying the dollar would decline or rise was not a political assault upon the government. Nobody ran for office claiming the dollar was up against the Mexican Peso so vote for me! They would have e been laughed off the stage. It was another lesson in life that you cannot judge others by yourself.

As fate would have it, I had a client who was a senior VP at Franklin National Bank, which was once the United States’ 20th largest bank. Most people have no idea but in 1951, it was Franklin National Bank in Long Island, New York, that issued the first card that most resembles today’s general-use credit cards. For the first time, customers could purchase items and pay them off quickly or be charged interest if the debt carried over. Participating merchants had to pay a fee for each card purchase. By 1952, about 28,000 customers and 750 businesses had signed up for the card which eventually became the Mastercard. The concept started spreading that same year when a bank in Michigan licensed the charge card program from Franklin. The idea was so popular, that in 1958, American Express launched its first charge card.

On October 8, 1974, it collapsed in obscure circumstances, involving connections to the Italian Michele Sindona who was alleged to be a Mafia banker. It was at the time the largest bank failure in the history of the country. Because I knew futures and international finance, I was asked to take a look at the problem the bank had.  The bank failed on a 10% move in the Italian Lira. Nobody seemed to understand international finance back then. Currency futures began trading on May 16th, 1972 following failed negotiations to reestablish a fixed exchange rate system. Thus being a trader, my client Walter Zenergle, asked if I could take a look at the problem. it was clear, that nobody yet understood about hedging risks except those of use who were traders.

The academics dealt in theory. Traders had to learn from their mistakes. After the failure of Franklin National Bank, it seemed that whenever there was an issue with currency, I seemed to get the call. When the Asian Currency Crisis hit in 1997, I was asked to come to Bejing to meet with the central bank. I was surprised that they had not called in some academic from Harvard. But went I got there, I discovered they had sent their people to work around the world on trading desks. They then returned to run the central bank. When I was asked by guys in the Fed and the US Treasury what was my impression of the Chinese central bank, I responded: “I was impressed. They only hired people with experience.”

The problem with academia has always been that it is entirely theory without any real-world experience. That is what impressed me about Milton Friedman. He came to listen to me speak to LEARN what was happening in the real world. Milton had said to me also that day, that I was doing what he only dreamed about. In 1953, he proposed a floating exchange rate system whereby the free markets would impose checks and balances against the policies of the government. Nilton has been the ONLY academic I have ever met that bothered to investigate rather than theorize as did Marx and even Keynes and certainly Schwab.

Unfortunately, Trudeau is listening to Schwab. Canada, Australia, and New Zealand as well as Europe are following the directive of Schwab. He is NOT in actual control. But the people running these political bodies are kissing his ring as if he is the godfather of economics.