It’s worth paying attention to where and when Joe Biden is standing when he makes his ridiculous economic claims today about Russia being the cause of the energy policy from the White House.
Do not let it go unnoticed that it’s June, the last month of the second quarter for economic data. Do not let it pass your reference that Joe Biden is speaking from the Port of Los Angeles (POLA) as he spins his nonsense about the inflation, he alone is responsible for. And do not overlook the attendee mentioned in this subtle statement, “And, John, I can’t thank you. You’re — you’re the real deal. Anybody — well, I won’t get into — get you in trouble, but thanks for sticking up for me.”
“John” is the White House Port Envoy John D Porcari. A severely partisan former Obama official who was selected by Joe Biden to lead the fraudulent effort to improve supply chains when the White House was under assault in the fall of 2021. Porcari was the person who designed “operation hide the ships” to give the illusion of port efficiency improvement, and it is almost a certainty that it was Porcari who leveraged his influence with the POLA to hold back the December 2021 import data in order to try and improve the GDP statistics. {GO DEEP}
A recession is defined as two consecutive quarters with negative GDP growth. The first quarter of 2022 was -1.5% as detailed by the Bureau of Economic Analysis. That means if April, May and June 2022 are also negative GDP then we are factually in an economic recession. That makes this month, June 2022, critical for Joe Biden. The White House will do anything to avoid that label appearing on their economic policy when the reporting is released at the end of July.
So it’s June, the last month of the second quarter…. and Joe Biden is giving a speech from the Port of Los Angeles….. and the White House will do anything and everything to avoid that “economic recession” label. What does that mean? That means it’s time for John Porcari to work his magic influence again and get the POLA import data held back and delayed so that it is not deducted from the GDP.
In November and December of 2021, it was Transportation Secretary Peter Buttigieg and John Porcari visiting the POLA, Port of Long Beach and the Port of Oakland to deploy operation “hide the ships” {SEE HERE}. Then the December import data from the Port of Los Angeles was withheld an extra month until after the GDP data was assembled.
I think we can all see where this is going.
As we saw from the BEA second review of the first quarter: (1) U.S. inflation was revised upward (prices increased); (2) the estimate of calculated inventories was lowered; (3) the estimate of consumer spending was raised (inflation issue); which leads to (4) a massive drop in the calculation of disposable incomes. [See the Change Table]
This table shows where the revisions are located:
Look at the revision to disposable incomes:
The Joe Biden’s economic policy, specifically his kamikaze energy policy within the Green New Deal agenda, is literally: (a) draining our savings and bank accounts, and (b) increasing our personal debt as we struggle to survive his intentionally created higher prices.
Joe Biden is gaslighting us into serfdom.
😂
I’m surprised the dementia gollum was not teleprompted to blame President Donald J Trump.
Where are the fact checkers? Where is the hostile press ?
Osama and the communist blamed the worthless GB for seven yrs for everything why haven’t they blamed PDJT for everything now ?
Because PDJT punches back.
This^^^^^
you mean mouths off.
Don’t let them slide your Overton Window by going two steps over and only coming back one. They are asserting that inflation is due to the war, and expecting you all to fuss over the fact that the inflation did not start with the war. But the war didn’t even add to our inflation problem–Western sanctions did. The West’s Programmable Hate Army and their desire to punish and starve the out-group (Russians)…they did that part all by themselves. Putin would have been happy to sell everybody oil and gas for the same prices as before, in the same quantities.
Owen, exactly right. The sanctions on the RF are what is exacerbating inflation everywhere. And they will destroy Britain, the EU countries, and othe NATO countries. We are close behind. I see the Ruble hit new highs against the Dollar and the Euro. Now that the west has to pay for RF energy with Rubles, the strength of the Ruble really stings. Not only that, since they are buying Rubles from the Gazprom bank, they also have to eat the currency conversion costs.
Shrewd move cutting the West off from Russian energy and raw materials..s// Now Europe and the Anglosphere can pay up at twice the price or sink back into the 19th century….
Unintended consequences never occur to these people.
Or this is being done on purpose.
Take your pick.
going with the former aggravated by the latter, in that should energy inflation hit, it pays green dividends (in their minds).
possibly though, putin is spending some of those excess euros on buying gold and possibly silver for delivery (someone is) on the comex and the lbma, in a kind of reverse of the west’s technique: at least it strengthens the ruble less and he gets some cheap gold and possibly silver, at most the comex, lbma, and the bullion banks have to declare force majeure and pretty much bring to an end the western manipulation of precious metals, roundly hated by china and russia. and their gold and possibly silver stockpiles are priced radically upward.
another example of why he’s winning.
“I see the Ruble hit new highs against the Dollar and the Euro.”
Then you may also see how this will reduce demand for Russian-produced goods.
Russia’s economy relies on exported raw materials. As they become more expensive relative to other currencies, fewer countries will be able to import Russian oil.
only for the unfriendlies. russia’s allies, those not supporting the western sanctions, get to use their own currencies and sometimes are offered additional discounts.
putin wants to win the war. but he wants to win the peace even more.
You mean like oil, gas, fertilizer and ingredients, and grain ?
Sure… if there was plenty available in the rest of the world. There isn’t at least this year, so no. Scarcity trumps over high prices, hence (some of) the inflation.
I would describe this excellent and precise analysis to be Sundancean, or perhaps Sundancesque in its scope and accuracy.
I suppose folk are aware that a lack of oil refineries is also a major contributer to high petrol pump prices.
Also it is beyond a joke that India is buying discounted Russian crude, refining it and then exporting it at a nice profit – all because the US does not want to alienate India. Strange old world.
In short, Russia is subsidizing Indian exports.
This strange old world will look stranger still when India uses the resultant profits to purchase US made defense weaponry, which would otherwise be unaffordable to them.
after watching the ukraine war closely, india, et. al. may be purchasing russian weaponry. also much more secure source of repair parts and ammunition than the sanction-mad u.s.
Their view of reality is an illusion created by a delusional gang of conniving power hungry idiots.
This leftist gang is neither delusional nor stupid. They are realists and incredibly brilliant. And, they are incredibly evil. Thinking that they are stupid is a colossal mistake in trying to discern the truth.
somewhat different take.
the folks pulling biden’s strings would rather they had putin’s approval rating than the one they do have. they would have preferred the ukes had knocked out russia right off the bat when it was strung out around kiev and putin’s enemies had killed him, allowing the return of the (((oligarchs))). they would have been happier if the ruble were rubble, russia did have an inflationary recession, and a cohesive, united nato/eu were impressed with the financial strength and military acumen of the indispensable nation.
so how brilliant can they really be? as for realists, they should negotiate peace with russia while ukraine has any black sea coast at all. don’t see much sign of it though.
Blame Russia for gas prices??? How many wars was the US directly involved in and gas prices and inflation were never this high?
I distinctly remember buying Shell premium gasoline for $.99/gallon during Operation Desert Storm.
I suspect they are manipulating the data on oil/fuel inventory levels as well. About a month or two back I was looking up data on the inventories and the data was delayed with a note that they were changing something with the reporting as the cause for the delay in current data. You don’t see any note anymore on the energy dept website and can’t find anything stating what was changed.
Thanks for the report. Everything I follow gets corrupted too, sometimes in front of my eyes. I’ve watched massive study dumps too to overwhelm inconvenient truths during COVID. There is no science anymore. Truthfully.
tptb will desperately and deceptively manufacture a 2q gdp that is barely above zero
it will then get revised downward when no one is looking
but the q3 recession amount will be too big to hide. and it comes out just before the November
electionheisthttps://donsurber.blogspot.com/2022/06/20-million-biden-voters-24-disapprove.html
Summary: United States is in an economic recession now.
Bret Baier called Biden out today for lying: Biden said that core inflation had “gone down” and Baier looked at his guest and said, “He just lied. It went from .3 to .6”
Nice at least to see an anchor use the word “lied” to say what Biden did.
Yeas except it was Briet Baier. Never. trust. him. again
Remember
Eleven months ago inflation was spiking, and every liar from the nations financial sector was bleating that it was “transitory”. Things started going downhill fast just days and weeks after the puppet was installed.
The Feds little conniving robot was spitting out the word “transitory “ every time he opened his beak.
The Putin price hi … he … ha ha ha ha.
Oh, man.
How much longer of this traitor?
Things Are This Bad: Regime’s Most Loyal Lapdog Jim Cramer Turns on Joe Biden, Calls Out His Lies and Anti-Energy Agenda (VIDEO)
https://www.thegatewaypundit.com/2022/06/things-bad-regimes-loyal-lapdog-jim-cramer-turns-joe-biden-calls-lies-anti-energy-agenda-video/
If you cant even control your own fiat money? What do you control?
The installed deep state puppet is lying. Preaching for his braindead supporters.
Our enemies are responsable for the inflation they created on purpose. To bad we see right into their dark hearts… The question is: When are we going to stop them?
Love that bumper sticker, Beachbum.
There is no grid-locked traffic jam anymore, at the California Ports! That’s because Singapore, shut down for the better part of a month, is a disaster. The world possesses a finite number of freight capable ships. When there is a kink in the flow of goods, the ramifications are felt globally. There are tens of thousands, yes thousands of container carriers just sitting off the Singapore coast. Parked there because the CCP shutdown Singapore last month. Singapore is slowly reopening, but normal flow won’t be achieved for many more months.
So, yes the US west coast ports are less snarled than they were last Autumn. But, it’s not because of anything the Brandon crowd did or didn’t do. It’s because the freight traffic is next to nothing!
Nothing is ever the fault of this absolute a$$hole. Please excuse my character French. I’m just so fed up with this poser! He is NMFP!!!
Some of you remember the great society vision by then democrat president Lyndon Johnson. From that came the war on poverty where trillions have been spent creating a class of people all dependent on the government nearly all of them loyal democrats. Now our government is manufacturing poverty by destroying the middle class and letting millions of immigrants flow over our open borders. Government utopia is creating dependency on them so they can control you from cradle to grave. Our government is the enemy of the people. Do not comply.
Biden is a case study in the Left doing exactly the opposite of what it proclaims. He went on a “No Malarkey” campaign tour, when the reality is he is all malarkey.
May God help us, as we have fallen into the hands of our enemies.
If I have an adjustable rate mortgage on my house, what do I do? I can’t lose my home like everyone in 2008.
just more deflection to give the ADHD sheeple a topic of the week.
Sic semper tyrannis