Tag Archives: Wealth tax

May 1 2023

Sunday Talks, Gary Cohn Discusses the First Republic Bank Dynamic, and Confirms Something Interesting…


Posted originally on the CTH on April 30, 2023 | Sundance 

Gary Cohn is connected to the banking and finance industry, well connected.  In this interview with Face The Nation earlier today, Cohn is discussing the current status of First Republic Bank, another big player in the California banking system that is about to collapse.  Cohn notes something at the 1:15 mark that just seems obvious yet is undiscussed in most outlines of the FRB discussion.

Six weeks ago, in an effort organized by the FDIC, $30 billion was pushed into FRB by eleven larger banks to stabilize it.  However, the only thing that infusion of capital did was allow institutional depositors time and ability to withdraw their funds. A complete racket.  Once the at-risk group exits, suddenly the collapse is back on the tee.  WATCH:

[Transcript] – MARGARET BRENNAN: We want to turn now to Gary Cohn, who is the vice chairman of IBM, former Goldman Sachs president and a former Trump administration top economic adviser. Good morning to you. Lots of titles, Gary, Lots of experience. That’s why we like having you here. I want to ask you about what’s happening with First Republic. It’s been under pressure. We know they’ve been looking for a buyer, the FDIC, the government is looking to arrange, moving it into government control and then maybe selling it. What are you hearing about how this would roll out?

GARY COHN: Margaret, thanks for having me. I think you’re portraying the situation as we find ourselves again on a weekend. As we closed business of Friday, the FDIC was in a process of looking for acquirers or bidders for the assets over the course of the weekend. I think the FDIC has asked potentially three banks for their final bids for the entire bank. The FDIC would prefer to sell the bank in its entirety than the pieces. What will most likely happen is the FDIC will seize control and then simultaneously resell the asset to the successful bidder. I think that will happen sometime later this afternoon before the markets open in Asia this evening.

MARGARET BRENNAN: And this will be a faster process than what happened with SVB?

COHN: It will be- it will be a much faster process. Now, we’ve been going down this process for the last two weeks or so as first republics continues to be under pressure and continues to lose deposits. Unfortunately, First Republic reported this week that they had a massive outflow of deposits over the last quarter.

MARGARET BRENNAN: So if First Republic is sold, then the acquirer would take on the deposits. So what do you think about the conversation we had earlier with Congressman Khanna about whether Congress needs to do something here? Because it seems like we’re just going into emergency mode now for three banks.

COHN: Yeah.

MARGARET BRENNAN: Does there need to be a broader change to the regulatory system and to the laws?

COHN: Well, it’s an interesting question. So, look, I don’t agree with Congressman Khanna that we want unlimited FDIC insurance. I think that to me is a bit of a race to the bottom.

MARGARET BRENNAN: You had picked like two, 2 million. 5 million, 10 million.

COHN: Yeah. I mean, there’s got to be some limit. It’s- at some point you have to limit because you don’t want to race to the bottom where you know, the weakest bank with the weakest balance sheet in the world can offer you the highest rate of return on your deposits. And therefore, you take your deposits there because guess what? They’re insured by the federal government. That’s not what we want to see. We want to see some type of discipline in the system. When you talk about more and more regulation, I smiled because if you look at the report that came out that you referenced with Ro Khanna as well, you know, one of the findings in the report is that the regulators did not do a very good job enforcing the existing rules. So if you can’t enforce the rules you already have on the books and by- it’s hard to enforce the rules because there are so many rules, do you want to create more and more rules when you can’t enforce the one you already have? Part of me feels like we need to get a simpler, more coherent set of rules so the bank regulators can actually enforce them and they know what the important rules are.

MARGARET BRENNAN: But the bank regulators here are at the Fed. That’s what we’re talking about here.

COHN: They’re at the Fed and at the States. Remember–

MARGARET BRENNAN: That’s true.

COHN: –we have state regulated banks and federally regulated banks.

MARGARET BRENNAN: Well, that’s a big conversation for California since they just had two banks–

COHN: It is.

MARGARET BRENNAN: –have some big problems. But Fed Chairman Powell is going to face questions from the press midweek.

COHN: Yes.

MARGARET BRENNAN: They- he gives a press conference around the decision on interest rates that he is expected to be making. Do you think these banking problems are going to interfere with his plan?

COHN: I don’t think these problems are going to interfere with his plans. I actually think they’re helpful to his plans.

MARGARET BRENNAN: Because they’re slowing the economy?

COHN: Exactly. What the- what the chair has been trying to do is slow the economy down. He’s been trying to tamp down inflation. Inflation is too many goods chasing too few products. And part of the chasing has been the easy availability of credit. Now that we’ve seen deposits lose- the- leave the system and we’ve seen banks in tighter financial position, they are not offering loans as easily as they were before and the loans have become more expensive. So people are borrowing less money, they have less access to credit, so their ability to purchase is going down. Purchasing power is waning in the United States, which is exactly what the chairman’s been trying to do by raising interest rates. So he’s in essence, getting enormous amount of help out of this banking crisis, not what he wanted to see happen in any way, shape or form, but the unintended consequence is very helpful to slowing down the economy and tamping down inflation.

MARGARET BRENNAN: So does it up the odds of a recession being more than mild?

COHN: It probably ups the odds. Yes. I mean, it definitely ups the odds. It takes control out of the Fed. The Fed is no longer in total control of slowing down the economy. They’ve now got the banking industry playing along with them. But as we’ve seen in the economic data recently, the consumer in the United States still is in relatively good shape. They are starting to run out of savings. The money that they got during COVID, we put an enormous amount of stimulus into consumers bank accounts and that administrations, both administrations, every every administration put enormous amount of stimulus in the bank accounts. We see from the savings data that’s starting to to wear down. It’s starting to run off. So is that runs off further and further. The economy would become more credit dependent to keep thriving. So I think we will see a slowdown. And I still think we’re in a relatively decent shape. We may have a recession, but I still. I think we could muddle through the bottom here without a real deep recession.

MARGARET BRENNAN: The chair of the House Financial Services Committee, Congressman McHenry, called the Fed’s report a self-serving justification of Democrats long held priorities. He may be venting. It doesn’t look like Congress is doing anything to change regulation or laws related to banking. There was an FDIC report on the collapse of Signature Bank, which blamed bad management, but it also said regulators just didn’t have enough staff. In New York. I mean, there’s some pretty damaging bits of information in here. If you put aside the politics, the regulators don’t have enough staff. They didn’t act. So who are they being held accountable by unless it’s Chair Powell?

COHN: Well, it is Chair Powell. And I think- I think when the chairman goes to Congress and remember, he testifies in front of both the House and the Senate a couple of times a year. Historically, all of the questions have been on monetary policy. I think we’re going to start seeing a lot more questions on the regulatory and the regulatory policy. How is regulation working? Are they keeping up to what they need to do? Do they have proper staff or there are issues that are going by that are not being covered? This is a huge finding. I mean, this is a bit of a seismic moment because we believe in the United States and I think the US population believes that the banks where they deposit their hard earned money are well regulated. And we have found out this week in the Fed’s own report that these banks are not well regulated, and they admitted it themselves. I ran a regulated bank. I know that if we would have ever told our regulator that we did not have a enough people to regulate ourselves, they would have shut us down. So we cannot be in a position where the regulators themselves say we do not have enough staff to regulate you properly.

MARGARET BRENNAN: You ran one of the biggest banks. Gary, we’ve got to leave it there. We’ll be back in a moment.

May 1 2023

Wall St Journal Outlines Documents from Jeffrey Epstein Showing Contact with Highly Influential People, Including Current CIA Director Bill Burns and Clinton/Obama Lawyer Ruemmler


Posted originally on the CTH on April 30, 2023 | Sundance

Despite no one knowing ‘how’ Jeffrey Epstein actually made his money, one of the great mysteries amid a labyrinth of rabbit hole mysteries, the network of government officials and high-profile names who associated with and met Epstein has never been fully outlined or absorbed.

Other than a few random and specific names that surface from time-to-time, the lack of media curiosity into the bigger context of the Epstein story has always been somewhat perplexing.  One would ordinarily think the opportunity for a Pulitzer might entice an intrepid media outlet to do a lengthy dive into the matrix of Epstein; alas, no effort toward that objective ever surfaced.

Today, another fragment in the story seemingly finds its way to the surface as the Wall Street Journal outlines a list of names that were not included in the “black book” story, but nonetheless were intertwined with Epstein *after* his first conviction as a sex offender [STORY HERE].

Two of the names within documents, schedules and calendars attributed to the Epstein life include current CIA Director Bill Burns and former White House lawyer Kathryn Ruemmler.  In addition to being the White House legal counsel, Ms. Ruemmer was also the foundation lawyer for Bill and Hillary Clinton as well as the personal lawyer for Susan Rice.

(Wall St Journal) – The nation’s spy chief, a longtime college president and top women in finance. The circle of people who associated with Jeffrey Epstein years after he was a convicted sex offender is wider than previously reported, according to a trove of documents that include his schedules.

William Burns, director of the Central Intelligence Agency since 2021, had three meetings scheduled with Epstein in 2014, when he was deputy secretary of state, the documents show. They first met in Washington and then Mr. Burns visited Epstein’s townhouse in Manhattan.

Kathryn Ruemmler, a White House counsel under President Barack Obama, had dozens of meetings with Epstein in the years after her White House service and before she became a top lawyer at Goldman Sachs Group Inc. in 2020. He also planned for her to join a 2015 trip to Paris and a 2017 visit to Epstein’s private island in the Caribbean.

[…] The documents show that Epstein arranged multiple meetings with each of them after he had served jail time in 2008 for a sex crime involving a teenage girl and was registered as a sex offender. The documents, which include thousands of pages of emails and schedules from 2013 to 2017, haven’t been previously reported.

[…] Mr. Burns met with Epstein about a decade ago as he was preparing to leave government service, said CIA spokeswoman Tammy Kupperman Thorp. “The director did not know anything about him, other than that he was introduced as an expert in the financial services sector and offered general advice on transition to the private sector,” she said. “They had no relationship.”

Ms. Ruemmler had a professional relationship with Epstein in connection with her role at law firm Latham & Watkins LLP and didn’t travel with him, a Goldman Sachs spokesman said. Epstein introduced her to potential legal clients, such as Microsoft Corp. co-founder Bill Gates, the spokesman said. “I regret ever knowing Jeffrey Epstein,” Ms. Ruemmler said.

A spokeswoman for Latham & Watkins said Epstein wasn’t a client of the firm.

[…] Mr. Burns, 67 years old, a career diplomat and former ambassador to Russia, had meetings with Epstein in 2014 when Mr. Burns was deputy secretary of state.

A lunch was planned that August at the office of law firm Steptoe & Johnson in Washington. Epstein scheduled two evening appointments that September with Mr. Burns at his townhouse, the documents show. After one of the scheduled meetings, Epstein planned for his driver to take Mr. Burns to the airport.

Mr. Burns recalls being introduced in Washington by a mutual friend, and meeting Epstein once briefly in New York, said Ms. Thorp. “The director does not recall any further contact, including receiving a ride to the airport,” she said.

The following month, October 2014, Mr. Burns stepped down from his role at the State Department to serve as president of the Carnegie Endowment for International Peace, a think tank. He ran the Carnegie Endowment until he was nominated in early 2021 by President Biden to serve as CIA director.

The documents show that Epstein appeared to know some of his guests well. He asked for avocado sushi rolls to be on hand when meeting with Ms. Ruemmler, according to the documents. He visited apartments she was considering buying. In October 2014, Epstein knew her travel plans and told an assistant to look into her flight. “See if there is a first class seat,” he wrote, “if so upgrade her.”

[…] Epstein and his staff discussed whether Ms. Ruemmler, now 52, would be uncomfortable with the presence of young women who worked as assistants and staffers at the townhouse, the documents show. Women emailed Epstein on two occasions to ask if they should avoid the home while Ms. Ruemmler was there. Epstein told one of the women he didn’t want her around, and another that it wasn’t a problem, the documents show.

Ms. Ruemmler didn’t see anything that would lead her to be concerned at the townhouse and didn’t express any concern, the Goldman spokesman said.

[…] Over the next few years, Ms. Ruemmler, then a partner specializing in white-collar defense at Latham & Watkins, had more than three dozen appointments with Epstein, including for lunches and dinners.

“In the normal course, Epstein also invited her to meetings and social gatherings, introduced her to other business contacts and made referrals,” the Goldman spokesman said. “It was the same kinds of contacts and engagements she had with other contacts and clients.”

In 2015, she was scheduled to fly with Epstein to Paris and in 2017 he planned to stop in St. Lucia to take her to his island home in the U.S. Virgin Islands for the day, according to the documents. (read more)

Sketchy… All of it!

Dirty people, working amid a system that trades dirt as currency…

Apr 30 2023

The Press Called Out To Their Face – Refuse to Answer They Are Just Propaganda Agents Today


Armstrong Economics Blog/Press Re-Posted Apr 30, 2023 by Martin Armstrong

Apr 30 2023

U.K. Business Leaders Unimpressed With Ron DeSantis Visit and London Leg of Book Tour


Posted originally on the CTH on April 29, 2023 | Sundance 

As Florida Governor Ron DeSantis finishes up his long-scheduled foreign policy tour, he finishes the trip on a down note in London, England.  Apparently, the political and business leaders were unimpressed by the diminutive stature of the Top-Gov and had lots of uncomplimentary things to say about him.

Meanwhile, on the domestic front, the most recent Trump -vs- DeSantis poll shows another slip for the DeSantis brand managers, despite the considerable lifts they put in his shoes to assist the optics.  President Trump now leads Ron DeSantis 62% to 16% in polling, a 46-point advantage {link}.

Governor DeSantis is scheduled to arrive back in Florida this week as the consultants organize bill signing ceremonies for legislation completed during his absence.  The bills will include a change to the Florida election laws permitting Ron to start officially campaigning for president instead of pretending not to run.  The ‘official’ announcement, which appears to have been planned for several years, is scheduled for mid-May next month.

LONDON — He hopes to win the hearts and minds of devoted Donald Trump supporters ahead of next year’s U.S. election.

But Republican presidential hopeful Ron DeSantis failed to impress British business chiefs at a high-profile London event Friday, in a tired performance described variously as “horrendous,” “low-wattage” and “like the end of an overseas trip.”

The Florida governor, expected to launch his bid next month to challenge Trump as the Republican nominee for the 2024 presidential race, met with more than 50 representatives of major U.K. firms and business lobbying groups as a part of a four-country “trade mission” ending in London Friday.

For several of those present, however, the statesmanship was lacking.

One U.K. business figure said DeSantis “looked bored” and “stared at his feet” as he met with titans of British industry in an event co-hosted by Lloyd’s of London — the world’s largest insurance marketplace.

“He had been to five different countries in five days and he definitely looked spent, but his message wasn’t presidential,” they told POLITICO. “He was horrendous.”

A second business figure who was in the room said it was a “low-wattage” performance and that “nobody in the room was left thinking, ‘this man’s going places’.”

They said: “It felt really a bit like we were watching a state-level politician. I wouldn’t be surprised if [people in attendance] came out thinking ‘that’s not the guy’.” “There wasn’t any stardust.” (Read More)

Please clap…

Apr 28 2023

Collapsing at Home, DeSantis Travels to Israel and Proclaims He Moved U.S. Embassy to Jerusalem, Not President Trump


Posted originally on the CTH on April 27, 2023 | Sundance 

This should be embarrassing, even for a seriously self-centered politician so filled with hubris and visions of grandeur that he cannot see anything except his own magnanimity.  Alas, for the Narcissus Top Gov and the branding organization behind him, no scale of hubris exclaimed is excessive enough.

Florida Governor Ron DeSantis was in Israel Thursday, doing the obligatory indulgency tour all Republican presidential candidates must undertake before they officially announce.  During his pre-planned events, DeSantis took credit for moving the U.S-Israel embassy to Jerusalem.

[…] DeSantis presented the Trump administration’s decision to move the U.S. embassy to Jerusalem as his own achievement, saying he worked to “cajole” the former president to make the move. He didn’t mention former President Trump by name. (link)

.

Florida Governor Ron DeSantis had no independent source of wealth, prior to this 2024 endeavor and collaborative operation.  Together with the multinational financing operation around him, in combination with the Murdoch book deal and advance payment, the $300k Governor is now worth millions.  Funny how that happens.  It’s no wonder Casey is tiara shopping while Florida residents are crushed by skyrocketing housing, insurance, taxes, energy and other unavoidable costs of living.

“Bumped into”…. 

January 6, 2022

Apr 28 2023

First Quarter GDP +1.1% Reflects Military Spending on Ukraine War, and Drop in Domestic Investment Along with Inventories


Posted originally on the conservative tree house on April 27, 2023 | Sundance

The Bureau of Economic Analysis (BEA) released their first quarter estimate of economic growth [DATA HERE] and the result of 1.1% growth shows how the U.S. economy has become dependent on government spending money we don’t have. The Gross Domestic Product (GDP) calculation is a valuation of all goods and services created within the U.S. economy, minus the value of goods and services imported.

Keep in mind that all calculations are in dollar terms. Personal consumption expenditure (PCE) prices increased 4.2% in the first quarter after increasing 3.7% in the fourth quarter. Excluding food and energy, the PCE “core” price index increased 4.9% after increasing 4.4%.   Two-thirds of the increased spending on goods was driven by higher prices, only one third by consumers purchasing more stuff.

Looking at Table 2 (the percentage change by sector) the increase in prices provided 2.48% lift to the GDP but the actual purchasing of goods only delivered 1.45%.  Meanwhile the decline in inventories subtracted 2.26% from the GDP, a major factor, and domestic investment has dropped subtracting 2.34%.

Government expenditures (+0.81) drove more than 70% of the total GDP growth as national defense spending (Ukraine War) was a major federal component.  The local and state government spending increase was driven by higher wage rates.   Don’t forget there’s $2.2 trillion in Inflation Reduction Act (Green New Deal) spending that is also within the economy.

Overall, this is a dark picture.  Inflation is still raging. Inventories are dropping as consumer purchasing is squeezed, and replacements goods are not being manufactured. Companies are tightening their belts.  The federal government is spending to try and assist the economy, but the private sector is contracting economic activity.

When households evaluate their checkbooks, a Biden administration claim of a growing economy falls flat – because the only part of the economy that is growing is the part that fuels the energy and security needs of Europe.  Main Street USA is suffering through the massive inflation that Joe Biden has created, and purchases of anything other than necessities have come to a near halt.

Apr 27 2023

Judge Questions Laptop From Hell in Biden Child Support Case


Armstrong Economics Blog/Corruption Re-Posted Apr 27, 2023 by Martin Armstrong

The Bidens could appear on an episode of Jerry Springer with their distasteful actions. Hunter Biden is one of the most unethical and despicable individuals affiliated with American politics. Lunden Roberts, a former stripper, fought Hunter for years to obtain his DNA to confirm that he fathered a secret child with her. All of this was hush-hush since it was happening during dad’s presidential election. Their daughter was born in August 2018, but Hunter has had no involvement in her life. Biden refuses to allow his daughter to use his last name and has been in and out of court with Roberts because he is a deadbeat dad who refuses to pay child support.

“I attest that I am unemployed and have had no monthly income since May 2019,” Hunter claims. Cathay Bank just revealed the millions funneled to Hunter through his shell companies. The New York City gallery held art auctions for his paintings that sold for up to $75,000 each. He also made millions on his book, “Beautiful Things.” Best of all, his business dealings and tax records were allegedly leaked from his laptop from hell. The judge is now requesting that Hunter appear in court on May 1 to discuss the truth behind his financial situation.

“From now on … I want both of your clients at every hearing I conduct,” the judge said. “I will no longer allow us to excuse clients … because it is interfering with the progress of litigation, which is taking way too long to get over simple points,” Judge Holly Meyer ruled. Meyer pressed Brent Landon, one of Hunter’s lawyers, on the validity of the laptop:

"There has never been, to my knowledge, an acknowledgment that this so-called laptop — he continuously calls it Hunter Biden's abandoned laptop ..." Langdon began.

"Well, let's clear that issue up right now," said Meyer. "Is it your client's laptop or not?"

"Your honor, I'm not involved in all of that stuff," said Langdon. "It's not my client's laptop as far as I know."

"Is it your client's position, you're representing to this court, that it is not his laptop?" the judge asked.

"Your honor, I am not in a position to even begin to answer that question," Langdon said.

The judge should be provided with the contents of the laptop to use as evidence. All of the current evidence suggests that Hunter is far from broke. He is simply a deadbeat loser raised by an unethical father. Our commander-in-chief does not acknowledge his 4-year-old granddaughter either. The poor little girl would be better off not taking his last name as “Biden” is synonymous with shame.

Apr 27 2023

Florida Senate Pass Bill 28-12 Allowing DeSantis to Run Without Resigning, NBC Reports Announcement Coming Mid-May


Posted originally on the CTH on April 26, 2023 | Sundance 

As expected, the Florida Senate has passed the Ron DeSantis is a liar law, permitting the Florida Governor to run without resigning, by a vote of 28-12.

The previously created Ron DeSantis media group, Florida’s Voice, celebrates the news:

TALLAHASSEE, Fla. (FLV) – The Florida Senate approved an election overhaul bill Wednesday 28-12, which included a clarification to the “resign-to-run” law. The change would exempt officeholders seeking the position of U.S. president or vice president from the state’s “resign-to-run” law. (read more)

Florida’s Voice was proactively created and funded by billionaire donors, during their prior planning phase.  The Florida media outlet was created at the same time the ‘social media influencer’ program was put into the DeSantis plan.  This is all part of one very long continuum over multiple years.  The people who put the plan together simply followed the advice of Johnathan Gruber and “relied upon the stupidity of the Florida voter” not to notice it.

Meanwhile, NBC is breaking exclusive news the Ron DeSantis team plan to launch the official announcement mid-May.  Several weeks ago, after one of the official campaign contractors was hired, CTH shared what NBC is now confirming.

TALLAHASSEE — Florida Gov. Ron DeSantis is poised to jump into the presidential fray as soon as mid-May, four GOP operatives familiar with the conversations told NBC News.

One of the sources emphasized that it would be an exploratory committee, with the official launch coming soon after.

Some of his backers are urging him to declare as early as May 11, in an effort to counter the creeping national narrative that former President Donald Trump is the overwhelming front-runner for the 2024 GOP nomination. Others in the governor’s orbit, however, have argued that that date would be too soon, according to two of those sources. All emphasized, however, that mid-May is the target.

[…] In a clear sign of movement on the campaign front, national political vendors descended on Tallahassee this week, vying for work on DeSantis’ forthcoming campaign.

“There has been an influx of national firms in town over the last few days,” said one of the Florida Republican operatives familiar with the meetings. “It feels like a team that is staffing up, not scaling down.”

A second operative said they signal a likely presidential launch sooner than some expect, even as DeSantis has increasingly faced headwinds and fledgling poll numbers in recent months.  “Large campaigns require in-house planning, and this has been ‘vendors: assemble’ week in Tallahassee,” said a third source familiar with the meetings. (read more)

Ron DeSantis is not a nice person. Actually, he is very shallow and not liked by the people in his orbit.  It will be very easy to get information from the campaign folks, because they are only in it for the money.  The RdS campaign will leak like the Cruz team did in 2016, same dynamic.  The discovery of this is why many of the Sea Island billionaires are now pulling back from their full-throated support.d

[…]Republican megadonor Ken Griffin is reportedly hedging his bets on Florida Gov. Ron DeSantis’ potential 2024 presidential campaign. […]  Ken Griffin has since privately expressed concerns over some of DeSantis’ positions, including his quiet signing into law of the state’s strict, six-week abortion ban and his comments downplaying Russia’s invasion of Ukraine, according to The Times.

Griffin, the Citadel CEO with a reported fortune of almost $30 billion, has met in private with DeSantis and will “still likely” donate to him once the governor officially launches his campaign, one source predicted to the newspaper. But he may also “give to other candidates” who appear able to beat Trump, the source added. (link)

Another report:

[…] John Catsimatidis, CEO of Gristedes, knocked DeSantis’s communication skills, telling the Washington Examiner that DeSantis does not even return his phone calls. “Why would I support somebody to become president of the United States that doesn’t return phone calls?” he asked.

[…] Top Republican donor billionaire Thomas Peterffy is among mega donors who has openly put support for DeSantis “on hold” as well.

“Because of his stance on abortion and book banning . . . myself, and a bunch of friends, are holding our powder dry,” he said, adding that other donors are “waiting to see who among the primary candidates is most likely to be able to win the general, and then put all of our firepower behind them.”

Republican megadonor Ken Langone has also voiced concerns about backing DeSantis. (link)

As more voters get to see the inauthentic nature of Florida Governor Ron DeSantis, who is generally not a very astute person and likely more driven by the tiara dreams of his wife Casey, we can expect to see his current status of around 20 to 25% remain his floor and ceiling.   Additionally, as the Florida voters feel the economic crisis that DeSantis has left unattended in his quest for aggrandizement, he will likely lose his home state.

With Ron DeSantis playing the role of Ted Cruz, Mike Pence will play the role of John Kasich and Nikki Haley will play the role of Carly Fiorina as the 2016 history rhymes.

Keep in mind, the SuperPACs are fat with cash, they will drag this DeSantis run out until the coffers are empty.  The consultants will all be paid from the RdS funding mechanisms, and with the RNC pumping money into stupid indulgency stuff, DeSantis represents the only campaign that can facilitate the scale of the consultant grift at the national level they demand.

The variable this time is the Republican Governor’s Association (RGA) who show every indication this time around of manipulating all their state voting systems to undermine Trump and support the DNC nominee if needed.

Apr 27 2023

Congress Hears Testimony of 85,000 Missing Illegal Alien Children and U.S. Govt Sponsored Sex Trafficking Operations


Posted originally on the CTH on April 26, 2023 | Sundance | 211 Comments

It is challenging for most of us who have done deep research in the business of human trafficking and smuggling, a process supported by both Democrats and Republicans in DC, to hear them claim they were not aware of the issue until recently.  CTH Archive Here and TLDR; version HERE.

According to testimony as delivered today, 85,000 illegal alien children, who were trafficked across the southern U.S. border and sold into slavery and the sex trade, are missing.  The number is considerably higher than that, but the congressional record will exist with that number today. {Direct Rumble Link} WATCH:

[ SEE SUMMARY OF RESEARCH HERE ]

Apr 27 2023

Chrysler Cutting 3,500 Union Auto Jobs


Posted originally on the CTH on April 26, 2023 | Sundance | 187 Comments

Earlier GM cut 5,000 salaried workers and several hundred hourly jobs. Ford previously announced it would cut a total of 3,000 salaried and contract jobs, mostly in North America and India.  Now, today, Chrysler parent company Stellantis announces 3,500 auto sector job cuts.

Stellantis owns the Jeep, Ram, Chrysler, Dodge and Fiat brands. Apparently, there is something in the U.S. economy that’s happening despite the great pretending….

Biden in Michigan, speaking to auto-workers, 2020

WASHINGTON, April 25 (Reuters) – Chrysler-parent Stellantis NV (STLAM.MI) wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday.

The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007, UAW Local 1264 said in a letter dated Monday posted on its Facebook page.

Stellantis spokeswoman Jodi Tinson declined to comment. A person briefed on the matter said the figure might be lower than the figure cited in the UAW letter.

In late February, Stellantis indefinitely halted operations at an assembly plant in Illinois, citing rising costs of electric vehicle production.

The action impacted about 1,350 workers at the Belvidere, Illinois, plant that built the Jeep Cherokee SUV and resulted in indefinite layoffs. The automaker has warned it may not resume operations as it considers other options. (read more)

The Investment Recovery Act (IRA), aka “the green new deal” multitrillion spending bill, was supposed to enhance autoworkers.  Funny how the exact opposite happens.

The incentive packages outlined in the UAW Local 1264 letter included the following details:

  • Incentive Package for Retirement: $50,000 for seniority members hired prior to the 2007 agreement.
  • Voluntary Termination of Employment Program: guaranteed lumpsum benefit payment and is applicable to employees with at least 1 year seniority.

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Overall govt spending and regulatory controls drove inflation for these past two years.  The ‘demand side’ was blamed, despite the lack of demand. I will be proven right when history is concluded with this.  Interest rates were raised by central banks in an effort to support the policies that are driving ‘supply side’ inflation, not demand side.

Energy policy was/is crushing the consumer by driving up the cost of all goods and services.  To support the overall goal of changing global energy resource and development (a false and controlled global operation), central banks raised interest rates.  Various western economies, including our own, have been pushed deeper into a state of contraction by central banks crushing consumer demand, and eliminating investment via increased borrowing costs.

In short, the goal was/is to lower energy consumption by shrinking the economic activity.  This, according to the BBB plan, was needed at the same time as energy development was reduced.

These economic outcomes are not organic, they are all being controlled by collective western government agreement.