I do not know how to describe this with the Through The Looking Glass absurdity it deserves.
The ability of financial media and national economists to suspend accepting current reality, while making claims about the possibilities for next year, is ridiculous. Ask me why this era of great economic pretending is underway, and I have no answer. The intellectual dishonesty is beyond my comprehension.
The first and second quarters of the U.S. economy showed negative Gross Domestic Product valuations (GDP). We just finished the third quarter (July, Aug, Sept) and the likelihood of another negative GDP is high. Production is down, demand is down, consumer spending is down, inventories are climbing, and the economy is contracting. We are in a literal, technical and structural recession. Considering the Q1 and Q2 outcomes, we have been in a recession all year.
The Wall Street Journal publishes an article citing several notable economists who are putting the likelihood of a 2023 recession at 63%.
(WSJ) – […] On average, economists put the probability of a recession in the next 12 months at 63%, up from 49% in July’s survey. It is the first time the survey pegged the probability above 50% since July 2020, in the wake of the last short but sharp recession.
Their forecasts for 2023 are increasingly gloomy. Economists now expect gross domestic product to contract in the first two quarters of the year, a downgrade from the last quarterly survey, whereby they penciled in mild growth.
[…] Forecasters have ratcheted up their expectations for a recession because they increasingly doubt the Fed can keep raising rates to cool inflation without inducing higher unemployment and an economic downturn. Some 58.9% of economists said they think the Fed will raise interest rates too much and cause unnecessary economic weakness, up from 45.6% in July. (read more)
They are analyzing a pending recession in 2023 without even admitting we are in a recession right now. AT THIS VERY MOMENT. We have two consecutive negative quarters of economic growth behind us (another Q3 result pending), and these economists are discussing a recession “next year“?
I feel like I’m behind a mirror in a parallel universe looking at financial pundits and economists pretending our reality is something completely different from what it is. This is madness.
♦ “Managing the transition,” is a phrase we have heard often – but what does it mean?
This is the only explanation I can fathom for this era of great pretending.
As you are well aware the various western nation central banks including the U.S. Federal Reserve, have raised interest rates into a global economic contraction, a drop in demand. Raising interest rates into a contracting economy is counterintuitive, it runs against the expressed interest of government to grow economic conditions. However, there is a purposeful design to the contradiction. [A TLDR Version Here]
The central bankers are trying to support western government policy. Unfortunately, the government policy they are under obligation to support is the fundamental shift in energy development, or what the World Economic Forum (Davos Group) has called the “Build Back Better” climate change agenda.
Monetary policy can only impact one side of the inflation challenge. The western bankers (EU central bank, U.S. federal reserve bank, and various banking groups) are raising interest rates in order to “tame inflation” by “taming demand.” However, as you know the global economic demand has been declining for several quarters. There is no excess demand, and there hasn’t been demand side pressure all year.
Raising interest rates into an already contracting economy does one thing, it speeds up the rate of economic contraction.
Economic contraction is the lowering of economic activity. Raise interest rates -in a general sense- and businesses invest less, borrowers borrow less, consumers purchase less, employers expand less, and the economy overall slows down. When the economy turns negative, meaning less products and services are produced, we enter a recession. Some businesses and employers do not survive a recession and subsequently unemployment rises.
During recessionary periods people buy less stuff, people have less income stability, and economic activity drops. When the banks raise interest rates into an economy that is already stalled or contracting, unemployment and general pain on Main Street increases. Workers are laid-off, incomes shrink, consumer spending drops and that leads to less employment. Recessions are bad for middle-class and working-class people. This is what the Wall Street Journal is describing for 2023.
“Employers are expected to respond to lower growth and weaker profits by cutting jobs in the second and third quarters. Economists believe that nonfarm payrolls will decline by 34,000 a month on average in the second quarter and 38,000 in the third quarter. According to the last survey, they expected employers to add about 65,000 jobs a month in those two quarters.” (link)
From the perspective of the western politicians and central banks, there is one benefit from a recession…. Energy use drops.
People travel less; businesses operate shorter work schedules; manufacturing stops; overall fewer goods are produced because less consumer spending is taking place. From the perspective of the groups who want to see overall energy consumption drop, a recession is a good thing.
A recession also brings along a natural drop in energy prices as less overall energy is used inside an economy that is slowing, stalled or contracting.
Oil prices drop as less oil is needed for the manufacturing of goods. Energy use in transportation also drops and generally gasoline prices drop because less transportation fuel is needed, because fewer goods are being transported. When the economy goes into a recession, energy use and prices always drop.
Put these factors together and you start to see how the transition to a new western energy policy, the Build Back Better agenda, benefits from a recession.
This is the essential understanding needed to reconcile why central banks would intentionally create an economic contraction. This is the great pretending. The bankers are supporting the governmental objective of transitioning the western economy into a new energy system away from oil, coal and natural gas.
The banks are supporting the policy makers. However, the central banks cannot openly admit what they are doing to support the politicians and policy makers.
In this weird new era, the banks are being instructed to support the policy makers without actually admitting they have changed their monetary mission. The central bankers will continue to say their job is to manage and/or balance employment and inflation. However, what they will not admit is their unspoken agenda to support the political decisions.
Instead, almost all the central banks are saying their interest rate hikes are intended to cool inflation by lowering demand.
However, it is not excess demand that is driving inflation; it is the policy making behind the energy transition that is driving higher costs on everything. The origin of inflation is on the supply side.
The supply-side of the inflation dynamic is being overwhelmed by massive increases in energy costs which are the results of intentional western policy. Extreme increases in consumer prices are the outcome of these energy price increases. The overwhelming majority of consumer price inflation is being caused by energy policy, not demand.
The various central banks and monetary policymakers know this. In fact, they are lying about their motives. They have to lie, because if they were to tell the truth there would be an uprising, and the success of the energy agenda would be put at risk.
In order to support the energy objectives of the various governments’, the central banks are trying -and succeeding- to lower economic activity.
Less economic activity means lower energy needs. This is what they call “managing the transition” to the new economy based on “sustainable energy.”
The banks and policy makers are ultimately managing the economic decline in order to Build Back Better in the future. This is why the originating charter of the central banks is being ignored, and the banks are raising interest rates into an already contracting economy.
None of this is being done accidentally. All of this is being done with forethought and implicit intention.
Unfortunately, for the average person this means the banks and policy makers have entered a phase where it is in their interests to shrink the global economy. They are trying to control the collapse of the various economies by working together. This is what they mean by “managing the transition.”
Managing the transition means less jobs, less work, a lower standard of living, and a period of extreme financial pressure for the average person.
Eventually, we will reach a point where the government(s) will need to step in and fill the gap from the declined economic activity. Bailouts and subsidies will be needed as they were in the COVID lockdowns. Unemployed workers and the people being impacted by a prolonged economic recession will need subsidies in order to survive.
The government policy makers are planning to do just that, spend more. They practiced during the COVID economic lockdowns, now they seem to be positioning to execute a similar policy path as they manage the energy transition.
We have only just entered the beginning phase of this Build Back Better agenda. No one, including the banks and policy makers, have any idea how long this is going to take.
We could be in this period of severe economic contraction for several years, perhaps decades, until their grand design of a new energy future is complete. This has been the discussion at the World Economic Forum (WEF), as the instructions were passed out.
The entire time the western government architects are doing this, they must keep the demand for traditional energy products like coal, oil and gas at the lowest level possible. That is why the central banks and politicians must keep economic activity at the lowest -yet survivable- rate possible.
Financial analysts and economists are pretending not to know this is our reality. All the pretending in the world will not change the reality on Main Street; pretending will only create a divide between those who admit and those who deny.
The next President will be the political leader who admits the reality and affirms the proper cause.
We are living through the beginnings of 1984
1984+38
“It was terribly dangerous to let your thoughts wander when you were in any public place or within range of a telescreen. The smallest thing could give you away. A nervous tic, an unconscious look of anxiety, a habit of muttering to yourself—anything that carried with it the suggestion of abnormality, of having something to hide. In any case, to wear an improper expression on your face … was itself a punishable offense. There was even a word for it in Newspeak: facecrime …”
~ George Orwell
We all know that there are certain workplaces where this applies….
It’s in all workplaces. Karens constantly ask “What’s the matter? You seem upset. Is everything going fine or you? Are you feeling OK?”
To which you really would like to reply:
No, b!tch. My retirement is in the sewer. I can’t afford to heat my house. I cant afford gas to come to work, but I have to. I can’t buy enough groceries. All because of b!tches like you, you menopausal, manless, childless dogworshipping, purple haired, tatted, pierced, Birkenstock-wearing eco-freak.
I love your last paragraph. We live in a college town and it describes all the harridans that reside here.
“But how can we be in a Recession if anyone can get a job at MacDonalds?”
Where I live in St. Petersburg Florida every young female has one or two dogs. I guess dogs replace babies now a days. I wonder if they have sex with them.
The price of dog food is killing me.
60$ a month for my 2 BCs.
Dont say anything to them though.
They are worth it.
A “young female” in St. Petersburg is almost 80 yrs old.
Related, HOW did those dogs contract monkeypox?
Yeah, I don’t want to think about it, but beatiality IS the next big thing.
Once they get “rights” for “minor attracted persons” they will go for rights for “non human or animal attracted persons” be cause you should be able to love and marry whoever or whatever you want, right?
Actually, mostly cat ladies…
It really is surreal, almost like I am living inside a George Orwell / Black Mirror production. Lest we not forget Winston’s job with the Ministry of Truth was to “update” the news archives, and anyone who questioned this … well, in today’s version your woke neighbor drops a dime and armed FBI agents drag you out in front of you family and friends.
This denial by the MSM is what has driven me the most crazy. Biden the fake president is glorious and does no wrong.
This is full on Pravda Soviet Union stuff. These so called journalists must be getting so much money or they must fear for their life to keep up these lies.
Explanation of a 2023 recession is very simple. The Demoncrats know they’ll likely lose both the house and senate (provided Cocaine Mitch fails in his sabotage efforts). Afterwards, the media will redefine recession to its original form and sound the inflation horns far and wide while blaming the Repubicans for the financial mess.
That’s a reasonable response, IMO.
hehehehe
Wait and See what Rewards THAT will get them.
This^^^^^^^^^^^
The only problem is that if the Republicans can back the House and Senate, President Trump’s messages get even bigger and louder and most of those new members will be MAGA. Plus, you have so many other conservative social media outlets that will be all tuned into President Trump. And who is really listening to the Wall Street Journal, NYT and the Fake news besides the lunatic left. President Trump will never remain silent if they try to blame Republicans.
All of bidens garbage policy outcomes are always the fault of the republicans because they won’t help them destroy America faster.
Also why isn’t the federal bureau of corruption looking into bidens obvious collusion with the WEF davos group to destroy America? He is following the built back better plan of Davos, doesn’t that make him an agent of a foreign government? I wish someone would ask these questions. They spent millions investigating President Trump for collusion, but biden is actually colluding with a foreign government.
Given the voting record of most Republicans in Congress, voting for Ukraine $, and other Dem debacles, they DO deserve some blame; RINO, GOPe ARE just as responsible for installing Brandon, and everything that has followed FROM that.
This is ALSO the MARK of the CULLING of the Sheep and Goats -= SEPARATING those of JESUS’ FLOCKS from those of the devil’s flocks.
Also this will equally separate the ones in Jesus’ flocks who believe HIM, but cannot make themselves believe HIS WORDS and HIS PROMISES, and they continue in UNBELIEF, KNOWING He Is Lord, HE Is Truth, and He Is Not a LIAR, but NOT ABLE or WILLING TO CHOOSE to STAND WITH HIM in VICTORY against the evil wiles of the devil – NOT believing that God will hold HIS OWN to be ACCOUNTABLE, and to REFUSE to be HOT or COLD.
THIS IS THE TIME of the HARVEST of the TARES, the Poisonous weeds without food value that hide amongst and MASQUERADE in the Midst of Growing Wheat. And NOT UNTIL their Harvest is Complete shall the Wheat RIPEN and be harvested, and at that Time, after the Harvest of the Wheat, the CHAFF – the WORTHLESS SHELLS shall be THRASHED OUT of the Wheat Harvest. Then there will be a Fine Harvest, The Great White Harvest of SOULS from the earth into the Body of Believers. Not the Rapture, but the Time with the Bride shows herself VICTORIOUS in Gathering in the LOST who are willing to be Saved and Counted into the Body of the Bride, and to be Prepared for that 1 Thessalonians 4&5/ and 2 Thessalonians 2 Taking Away along with HIM who prevents the Evil One from ascending on earth.
THIS IS OUR TIME of VICTORY!
Between now and that time, God has much for us to do here on earth and He will Help us and also protect and Guide us, those of us who are Willing to Follow Him, in His Light.
Excellent analogy, Amen sister in the Lord, ScarletRedRose.
Why are you surprised?
They are all liars who bear false witness daily without a second’s hesitation. They will often lie, even when the truth will serve them
Every institution is corrupted to its core by relentless and systematic lying. It is now so commonplace they no longer even recognize it as such.
The only question is what narrative am I required to peddle today?
And that is what they will repeat.
The question you should be asking is who is providing the narrative?
Journolist is not a one off thing.
Who is providing the narrative, you ask? Why the father of lies himself–satan, of course.
Well, look at who Allinsky dedicated his book to…
I try many x to get Sundance to look at the bigger picture. Somehow, it’s still not getting through?
It’s not about energy.
It’s not about Ukraine.
It’s about Russia leading the world off the dollar reserve currency.
Energy is simply a method to control the population once the real inflation hits our fiat currency.
People cannot understand why the stock market is up the last two days?
Yellin states she will work with Banks to see if Treasury needs to support Treasury market (ala BOE) and Biden’s student loan forgiveness applications are available now.
That’s a few trillion right there.
I suspect Sundance can’t see the bigger picture because it’s REALLY big. Hard to see when you’re in it.
We are not just watching another political or economic cycle. We are watching the end of ALL the cycles.
In order to do that, all of the evil and chicanery that has been foisted on us over the last several thousand years has to be exposed. But it has to be done gradually, to avoid putting all the sleepers into catatonic shock.
The plan that the patriots have developed to do this requires the top layers of evil to be removed (the ones we can’t see), which has already been done. Then, the remaining layers are encouraged to continue doing what they do best – lie, cheat, steal, murder, etc. But the cover-up that they normally employ to distract us from these shenanigans (war, chaos, etc.) has been prevented. So now we can see everything for what it is, and everyone for who they are. And what we see will, by design, since it is a staged movie, continue to look more and more ridiculous until ALMOST no one can deny that it is a movie. Some will never awaken, but I believe the majority will, and soon (I hope!). Then the masses will demand retribution, and the traitors (ALL of them) will be put to justice. The whole thing is more or less Biblical in scope… and I say that as a non-Bible-believer…
You may find reading the Bible informative. Who knows…perhaps you will come out of ‘your cacoon’ and take flight to what we believe as Born Again?
You must not have read The Bible, either. In it God talks about these times, and there is no overcoming this evil on our own. God has to come back and do it. Jesus is The Only One who can sort this mess out. We’ve let it get way too screwed up to fix it ourselves.
He IS on His Way with another BEAUTIFUL RED SEA MOMENT for them that is going to shock even the Body of True Christ Believers.
AND AS USUAL, it is INCONCEIVABLE and UNFORESEEABLE to the Human Mind, and as ALWAYS Staggeringly BEAUTIFUL and JUST!
AND IT IS TIME TO CELEBRATE HIM FOR BRINGING IT, even as Jerusalem laid Palm Leaves before Jesus on His white Donkey, as they shouted PRAISES and HOSANNAHS to the KING OF KINGS, when He entered into Jerusalem, SO AGAIN is it TIME to PRAISE HIM as He is even NOW, NIGH UNTO THE GATES with His LATEST “RED SEA MOMENT of Rescue for us”.
Amen! ALL Glory Be Unto His Name! Let Us Praise Him!
(Russ Taff)
God will not come back unless we bring Him back. He gave us free will, and expects us to use it.
God will come back in his time and not before. There will be a time of evil on the earth we’re all continuous thought is sin and nothing but sin. And when the last person that can be saved will be saved, then Jesus will return for his own. And the only way to be save will be to be put to death because Grace will have been withdrawn. Please read Revaluation.
Do you mean to say “Revelations”?
Ahh a voice of reason and truth among the cacophony of opinions.
If you don’t study the map you will be lost.
Everything going on has been described in scripture
We can clearly see where these policies are taking us.
I follow Amir Tsarfati because as a messianic Jew he knows how to read the map . And sees where we are in the real world too.
What a comfort and encouragement is these insane and evil days.
In these insane and evil days
Pretty rich for Cocoon to challenge Sundance. Just wait for “your wings to develop” before you take flight against Sundance.
I agree, destroy the Petrodollar, transition to a digital currency, restructure or clean up western debt and create a 2 class society. The Brics+ will do the same.
YES.
All of the “climate change” hysteria is just a pretext, a smokescreen to get the rubes to go along with their own self-destruction, to then pave the way for global communism. This has reached the point to where it cannot be stopped, however the midterms go.
We have to come to terms with the fact that the USA is finished, the constitutional republic has been lost, largely due to our own apathy and complacency: Ultimately, we have no one to blame but ourselves.
What is happening has has nothing to do with whatever is happening with the climate.
Ray, I agreed that this may be the cabals plan, but our republic is not lost, MAGA will prevail.
So, am I reading this right? The BIG picture is actually Russia, Russia, Russia? Huh, I thought that was the Dems mantra.
See my comment above. Hayak’s mercantile currency.
In reply to all the above….we all know, the big picture is global totalitarianism….that pyramid-shaped population they want with themselves (global elite– bankers, billionaires, those who have served well, etc) at the top and loyal servants in various capacities below with the bottom of the whole thing containing just enough of us to get the resources out of the ground (we all know they’re not going to rely on “green” energy for their jets and yachts) and do other such necessary work. The culling has already begun.
I think SD is really good at explaining the granular aspects.
And he assumes we know about the big picture.
I believe he gets the big picture, entirely.
But he gets paid to break it down into pieces, events, timelines, etc.
Thats what makes him so dang good.
“Ask me why this era of great economic pretending is underway, and I have no answer.”
Here is a take, “Ask me why this era of great
economicpretending is underway, and I have no answer.”They believe their own garbage lies as true, and thus no accountability – they think.
The Book of Jeremiah records in chapter 5:11-13:
For the house of Israel and the house of Judah have dealt very treacherously against me, saith the LORD.
They have belied the LORD, and said, It is not he; neither shall evil come upon us; neither shall we see sword nor famine:
And the prophets shall become wind, and the word is not in them: thus shall it be done unto them.
Jeremiah started prophesying during the reign of king Josiah. While Josiah did bring about reforms and even revival (because of the book of the law) he was directly told judgment would still come upon Judah, and it did.
IMO – The pretending going on now is only accelerating the coming judgment for our leaders can turn anywhere at any time and find God’s Word, revive their hearts and their nations – just as Josiah did for a season. Yet I believe we are past that season, again, that is my opinion. I will add and recommend, individually anyone can yet turn to the LORD with all of their heart.
I believe America gets ONE more chance…
And it’s coming up fast…
Never, in my life, have I felt the words of Jesus to be so current. “I did not come to unite. I came to divide.”
The same One also said, “I did not come to judge the world, but to save the world.”
Right now, we are still in the age of grace. So let all who will, call upon the name of the Lord and be saved.
Matthew 10:34-36:
34
Think not that I am come to send peace on earth: I came not to send peace, but a sword.
35
For I am come to set a man at variance against his father, and the daughter against her mother, and the daughter in law against her mother in law.
36
And a man’s foes shall be they of his own household.
IF mid-terms turn RED, AUTO Recession. JB will be left out to hang and R’s will INHERIT a RECESSION, Day 1.
Assume RED wave, JB gets placed on the shelf. Gavin steps up and begins 2024 campaign.
HEY CT members.
CDC TRYING to have a VOTE to ADD mrna vax to CHILDREN’S regiment for school, sports, etc.
BEST get pressure applied……IF CDC is GRANTED this vote and approves (which they will b/c of $$$$$), children will be required to have vaxx to attend school.
It’s certainly proper and appropriate to challenge the proposed action of the FDC, but I’m also not against anything that drives more families to home school their kids.
Anybody still sending their kids to public schools are child abusers. The world is coming to a halt. School doesn’t mean anything, anymore. They’ve graduated kids from High School and College for the past three years who are dumber than a box of rocks.
GOOD, I actually hope, in a way, that they do.
Hope this will finally force parents to STOP viewing Public Education as free low quality day care, so both parents can work, to aquire (on credit, of coarse) more CRAP.
HOMESCHOOL, and work hard to get a Statewide SchoolChoice bill passed in your State.
It is articles like this that make CTH an invaluable resource that must be supported and voluntarily funded.
Punching through to the hard truth about economic trends, analyzing and reporting on the motives of those who are making the policies designed to steer economic activity in a certain direction, and extrapolating the impending impact on the nation and upon individuals.
And done so in language we can all understand, and NOT resorting to pointy-headed doublespeak which is usually intended by the chattering class to disguise their genuine lack of true knowledge or coverup nefarious intentions.
God bless Sundance and CTH.
The correct answer is this is a massive operation. We have been sold out for money. Our government is out of money and yet there seems to be a group of people making a ton of money for his or herself. Trump, in my opinion, is a minor player at this point. I voted for him twice, will vote for him again if he runs, but I do not believe all of this crap is because of fear of him running. That position lacks critical thinking and a grasp of who these people are, in my opinion. They are Global Fascists, actual Nazis, who could care less about citizens as long as the graft goes on and on. A strong middle class does not allow for continuous graft.
We have not passed a budget since 2007-8. We have QE and continuing resolutions. We have MMT, Bernie just stated a core tennant that inflation is NOT caused by government spending. We are re-imagining everything. We are completely out of money and yet there seems to be a lot of people making money that are not small businesses. This is about money people, plain and simple. Not any money for you and for me. We do not get the money.
Arguing about the fear of Trump is stupid. No one person can fix this crappy show. People need to start elevating his or her thinking beyond who has TDS or who is not MAGA enough because we are fighting for our lives here.
I am called a troll quite often here by people who do not seem to get that I simply believe no one person can lead us out of this global mess. These people seem to not have any counter arguments and thus result to name calling. If an individual person cannot be intellectually honest about this disaster, he or she is part of the problem.
Congress has slowly surrendered its duties and responsibilities to an administrative cabal that is in key areas no longer subservient to Congress.
Trump is disconnected enough from this ‘system’ that those who run it are in a panic that he will completely pull back the curtain and expose the DC administrative cabal. Their continued hatred for him and for those who support him has no rational basis in political disagreement. The opposition that drives key administrative players is a deeper personal fear that each will be outed and exposed.
Power corrupts. And we have allowed the administrative state incrementally to subsume far too much power over the citizens.
Congress has delegated unrestrained and almost unsupervised power to an administrative state because it was the only way for Congress to expand the federal government.
Congress also surrendered it’s responsibilities to the courts, offloading their hard choices they’d
have to make in front of their constituents who might or might not approve.
We are being played.
Actually, I don’t THINK I ever called you a Troll, and we have much we can agree on.
No one man, except Jesus can “fix” this.
And, in a sense it IS moving “beyond” PDJT; WE are a Worldwide movement, with MANY, and not just in the U.S., rising up and standing up to the tyranists.
WE allowed this mess to form and fester, and WE are the ones who are going to have to “fix” it, and the good news is, WE are.
It WILL take time, and focused effort, but finally WE are “suiting up, and getting in the game”.
You have not.
Tons of us agree upon here, thank goodness.
Suspension of disbelief is the new normal.
Are you saying HRC is the new normal?-)
People believe the climate is changing because they are told this every minute of every day by the liberal media and others. Even though they can see with their own eyes that it is cold in winter, hot in the summer, cool in the fall and cool in the spring.
But, but, but, but they said if we don’t kill everyone on the earth soon the climate will heat 1.5 degrees by 2100. Where is AOC with her hair on fire over this revelation?
These left-wing/liberal economists will deny we’re in a recession until after the election, right about the time energy prices increase. They believe in “political” science!
Yep, and GOPricks who haven’t been on in your face offense, will meekly be on defense.
WSJ ponders possibility of recession in 2023? Wow. We’ve been in one for what, at least a year now. And to think I used to subscribe to that rag.
“Managing the transition” of the “great reset,” i.e., the reset from a world with the U.S. being the supreme superpower plus a capitalistic economic model for other countries and a world of sovereign nations, i.e., a reset to a globalistic/one-world government ‘aka’ world communism; Folks, the clock is ticking and it’s approaching mid-night of December 31, 1983; and a President Donald J. Trump is the only one I know of who possesses a time machine. Otherwise, World politics is currently dominated by communists and they must not be allowed to win, else the world enters a century long 1984, if not longer.
The pretending is an extension of fake news. WSJ is owned by Murdoch.
It’s no surprise. They are defending the ruling elites by denying reality. It’s base propaganda.
Let me play Devil’s Advocate here, and offer a different take on current monetary policy. What is the immediate result of raising interest rates? One of them is attracting capital into your financial system from countries where the interest rates remain lower. As we speak, there is massive capital inflow into the US from the EU and Japan in particular. Look at the currency exchange rates for the US dollar versus the Euro and the Yen. Now, on the other side of the fence, look at the exchange rate with a commodity driven currency such as the Russian Ruble. Ouch!
In sum, it appears that one of the Fed’s objectives is to prop up the dollar at the expense of our friends and allies against the attacks on the dollar from those who do not wish us well. In this regard, it will be particularly alarming to the Fed that the Saudis are now seeking formal membership in BRICS even as they improve direct, bilateral relations with the CCP.
In this particular puzzle, there are many other pieces in play. Using rising interest rates to crush demand for durable goods, almost all of which are manufactured abroad, is a crude but effective way to counterbalance supply side disruption, never mind the increasingly uncertain performance of the Chinese industrial economy. And is it necessarily a bad thing that Americans have to curtail buying Chinese junk to offset the rising cost of food produced here at home?
The currents in these waters are treacherous. Try not to get caught in a rip tide.
Just how many friends and Allie’s can we alienate through this policy you describe?
It seems we are running out of both.
This empire won’t last forever, and our predatory policies will force other nations to
into groups and alliances to oppose us.
Its happening right now.
How long will the EU survive being our b/+@#?
Germany? What’s the expiration date on that regional power?
We are alienating KSA, who is a major purchaser of arms and leads OPEC.
BRICS are clearly gonna run there business how they want.
SWIFT is being undermined.
The world is onto us.
Im not disagreeing with you.
Here is a much more alarming piece of the puzzle …
What is the impact on third world countries with dollar denominated national debt (think Sri Lanka) when interest rates here in the US keep rising?
Then the obvious follow-on question …
Who profits?
If Trump were in office the recession would have been proclaimed and 2023 would have been called a depression.
I’m kinda thinking if Trump wasn’t bambozzeled out of the presidency we wouldn’t be here right now.
I always thought the big lies and pretending during the 1990’s when America’s enemies who control the media and most of our political puppets were selling the “Free Trade” deals was the high point of their evil deceptions. Perhaps I have to change that perception
It makes no difference what label they put on it. Working class Americans know damn well this is not a good economy for them and they don’t need analytics and charts to figure it out. It hits them right in the face every single day.
My day to day life is such that I’m in a bit of a conservative bubble. And I’m unlikely to have a meaningful conversation with a liberal before November so I can’t say how this propaganda is playing. Within my bubble, people are doubting authority more and more. Heck, even my elderly mother (registered Dem until 4 years ago), who took the first two Moderna jabs, recently took horse paste to get over her COVID. She’s refusing all COVID boosters and isn’t even sure she should bother getting a flu shot ever again. They’re forcefully pushing COVID boosters and flu shots at her senior community with such force that a number of people are resisting. No question, there’s been a huge shift in at least people who are not diehard liberals. I’m hoping this propaganda is backfiring on the libs.
Along those lines, I was on patriots.win a few weeks ago where a number of commenters were talking about the moon landings being hoaxes. Honestly, if I would have read those posts 3 years ago, I’d have dismissed them along with the flat earthers. But my world has been so turned upside down, I decided to investigate further and came up with some very good questions and no good answers, just lots and lots of articles stating that the notion that the moon landings were a hoax “has been widely and repeatedly debunked.” Um, not that I could see. And that language is the same bullying language that the media uses when they’re talking about vaccine safety and election fraud. Very disconcerting.
Interesting comment, Tess, and yes, disconcerting. However, I see this discombobulation as a good thing:
Accept nothing as given; question everything.
If you’d posted this five years ago I could have put you in touch with my father, one of the Saturn V test engineers.
It was not a hoax. We lived it in my family.
Dad’s dead now. But I still have some of his notebooks, slides, calculations, and memorabilia.
Moon landing hoaxers should be sued by moonshot families like mine for Sandy Hook family-level defamation reparations as in the Alex Jones case.
When were in turbulent waters we need to look for silver linings. One silver lining I see is people are starting to question big pharma. I’ve been somewhat arguing with my friend over the government forcing people to do things that should’t be the governments business. For instance wearing a seatbelt, receiving a medical intervention you may not want and the like. I told her it isn’t my responsibility to keep you feeling safe, nor is it your responsibility to make me feel safe, nor is it the governments. Their responsibility is to present the facts then let people make their own decisions about wearing seatbelts or getting a vaxxine. When force starts that’s where we need to decide are we a free people or not.
This is like the US contemplating, on December 8,1941, a possible future war with Japan.
Its funny (not), all the initial Pacific and SE Asia operations which Japan
brilliantly orchestrated at once : Pearl Harbor, Wake, Philippines, Malaya
occurred on December 8th in Japan time.
4 major operations, initiated on the same day, December 8th (again, in Japan), and they all were successful.
Japan was swinging a massive naval, air, and land d###, with no allied response, the day AFTER Pearl Harbor
and the US hadn’t even declared war
(International date line shenanigans by me)
Rumor has it four major U.S. banks are presently in receivership (that is, bankruptcy).
I have read this in several different places as well. We know they are trying to shut down cash withdrawls, or at least limit us in what we can remove from our own accounts. It’s too bad all the local branches don’t have corporate types working in them. That is also probably part of the design of this attack on our economy, and by that virtue the entire country. They are only exposing their pawns. All the power pieces are protected behind gated buildings and security forces. Crooked, evil ex-military types. They type who join the military just to be able to legally kill someone. I met several of these types during my service.
“Protected behind gated buildings”, hah.
I have no doubt they THINK those gates protect them, but as someone who has penetrated such “defences” I know its just an ILLUSION.
They are decieving themselves if they think they are protected.
This pull back of the economy is the financial equivalent of the tide receding before a tsunami.
Don’t linger in amazement. Run for high ground.
How? What is high ground?
I read the initial WSJ projection to describe the chances the current recession will continue or get worse. Any other interpretation would require the suspension of disbelief.
As for the remainder, you deconstruct the impetus behind the responses perfectly. I would also add to the pressures on increased prices for goods the not insignificant price increases that come with higher corporate tax rates. I am always puzzled that so many folks apparently don’t understand that corporate tax hikes are paid by us through higher prices.
The great American Politician lie, “We’re going to tax the evil greedy rich corporations!” When in reality corporations don’t pay taxes. Their customers do. IE, the American People. WE pay all taxes. They are just collected by the corporations who pass it on to the government, or at least that is how it is supposed to work. Seeing as how so many huge corporations are going along with all of this, I imagine some kind of deal has been struck, and the feds are letting the companies keep some of our tax money to keep them playing their game…
The question was asked, “Ask me why this era of great economic pretending is underway…?”
One possibility is that they don’t want the “R’s” to take over the House and the Senate.
I am sure there are other interrelated possibilities as well.
The hoards of Useful Idiots are boarding the train-cars en-masse and pretending that they are going on a vacation to someplace fun, like Utopia.
Two percent of the population juice.
1) Doug Emhoff, Husband of Kamala Devil Harris
2) Janet Yellin , Secretary Treasury
3) Anthony Blinken, Secretary of State
4) Robert Klain, Chief of Staff
5) David Cohen , Deputy Director CIA
6) Merrick Garland , Attorney General
7) Alejandro Mayorkas , Secretary Homeland Security
8) Avril Haines , Director National Intelligence
9) Wendy Sherman , Deputy Secretary of State
10) Victoria Nuland , Secretary State Political 1 Affairs
11) Eric Lander , Office of Science Technology
12) Jeffry Zeints , Covid Czar
13) Rachel Levine Assistant Health Secretary
14) and 15) Cass Sunstein , Senior Counselor at the Departmentof Homeland Security, and his wife, Samantha Power , Head of USAID
16) Dana Stroul , Pentagon Senior Policy Official 1 on the Middle East
17) Rochelle P. Walensky , CDC Director
18) Anne Neuberger , Director of Cybersecurity at 1 NSA
19) Chanan Weissman , Director of Technology at National Security Council
20) Avril Haines , Director of National Intelligence
21) Polly Trottenberg , Deputy Secretary of Transportation
22) Jessica Rosenworce ,Acting Chairwoman FCC
23) Jennifer Klein , Co-Chair of the Gender Policy Council
24) Jared Bernstein Member of Council of Economic Advisers
25) David Kessler Chief Science Officer of COVID Response
26) Stephanie Pollack Deputy Administrator Federal Highway (FHWA)
WE are beset on all sides by the enemy. Our mortal domestic enemies. Who are worknig in conjunction with our foreign mortal enemies.
“We have been looking for the enemy.
Now, we are surrounded on all sides!
THIS simplifies things!”
paraphrasing Gen. Puller, who’s division of Marines were surrounded by 15 divisions of Chinese troops, in Korea.
Lets just say, he and his men proceeded to kick some serious *ss.
Point being, “surrounded by enemies” DOES “simplify things” considerably.
It seems ludicrous to think that the WEF/BBB crowd could maintain this ruse for long against a growing BRIC coalition. Developing countries have no intention of abandoning the energy source that brought great wealth to western countries, and is still the best path to prosperity for their people. Some may be totalitarian in governance, but the poor and hungry don’t really care so much about politics. Many (most) people are willing to sacrifice personal freedoms they may have never experienced for daily sustenance and an improving standard of living.
Change 2023 recession at 63% to DEPRESSION….
AND it might be more honest.
So this is how stupid they think we all are. The Biden Admin institutes energy policies that discourage investment in fossil fuels supposedly believing that these measures will actually spur innovation and industrial activity in the “Green” energy sector. Unfortunately, the green technologies are not ready for prime time and may never be able to replace our fossil fuel energy sources. Inevitably, energy prices go sky high and
since all industrial, agricultural and transportation activity is dependent on fossil fuels, the cost of commodities skyrockets also. Now our elite bankers and financial experts see the inflation rising and their crazy response is to increase interest rates which inflates the cost of investing in anything, including green technology. While the Republicans try to blame our economic woes on the profligate democrat spending of the last two years, the root cause is the Biden energy policies. The republicans won’t point this out because they are hostage to the “woke” global warming cult theory and don’t dare to speak up for what would legitimately right our ship of state.
Oddly, this is the same play the left (writ large) always use. Create a problem which in this case is inflation, then instead of reversing the policy that caused it, you implement another bad policy. The bad policy actually moves toward your goal, but would have never been approved in an ordinary process. Some examples that come to mind:
.
Let criminals out of prison or don’t put them there in the first place, then howl about the increase in violence and claim that the ONLY way to solve this crisis is to remove firearms from private use. The goal is to disarm the general population so that they are no longer a threat to the government and are easier to control.Have the government spend significantly more money than they take in, then howl about the deficit and claim that the ONLY way to solve the crisis is to increase tax revenue. The goal is to impoverish the general population so that they are no longer a threat to the government and are easier to control.Pay a foreign biological weapons laboratory create a slightly more dangerous influenza virus and let it loose into the world, then howl about how dangerous it is (even though it is less dangerous than the flu for those less than 50 years of age) and claim that the ONLY way to solve the crisis is to put the general population under house arrest, not go to church, not have weddings or funerals and generally treat their fellow citizens like infected garbage. The goal is to get the general population used to giving up their rights for a fabricated emergency so that they are no longer a threat to the government and are easier to control.Use Marxist separatist groups to launch scripted riots to impoverish productive urban areas, then howl about how badly the Marxist groups have been treated and claim that the ONLY way to solve the crisis is to give multiple millions in payouts and reparations to the very people who have burned and looted. The goal is to destroy the wealth of productive urban areas and to get the general population used to highly destructive “peaceful protests” which destroy their livelihoods, so that they are no longer a threat to the government are are easier to control.Open the borders to unfettered illegal immigration, then howl about how poorly the new “undocumented migrants” are treated then claim that the ONLY way to solve the crisis is to declare amnesty. The goal is to dilute the general population with left leaning voters so that they are no longer a threat to the government and are easier to control. In other words: if the people don’t vote for you, change the people..
There is a theme and I’m sure there are other examples. In the case above, the current administration creates the problem of huge production cost increases by throttling energy (i.e. the thing that makes people productive), then howls about the increase in inflation and claims that the ONLY way to solve the crisis is to raise interest rates and increase costs further. The goal is to loot the treasury and impoverish the country so that they are no longer a threat to the government and are easier to control.
I think it is a control thing.
BBB sounds like, they need to cleanse the earth of as many people as they can. Once they reach that magic number where windmills and sunshine can provide enough energy to run their electric machines, then BBB will be complete.
Their biggest problem, how to kill off 7 billion plus people without anyone noticing. The biggest egomaniacs of the bunch have already said there are to many people on the planet.
For me, Gods plan is the better plan. It does not involve misery and death. Gods plan = abundance and life!
And this Sundance is the reason we could be in for a nuclear exchange. Let me explain:
Putin, in St. Petersburg last spring, announced to the world the need to create a sound money trade currency. AKA, the teaching of F.A. Hayak, See, The Denationalization of Money, https://en.wikipedia.org/wiki/The_Denationalization_of_Money. In oversimplification, a currency that is pegged to a market basket of goods or Hayak’s mercantile currency. Putin made the further point that to the third world – the money printing of the West (the Fed and the EU central bank) is a modern form of imperialism. The west prints money is exchange for third world material goods, like oil, but because of the money printing it’s not a fair exchange because the money does not hold it’s fair value in exchange. Ergo, Putin is putting together the trade blocks BRICS et. al. and also bailed out the Ruble by pegging it to gold. Putin has (or had) a federal budget surplus so he is already on his way to sound money. Still a big if since China is a big money printer too. That said, if Putin can establish a sound trade currency, this leaves the money printing west with 2 options: 1) stop printing and go to sound money too (which requires deep cuts to the welfare state and a balanced budget); or 2) destroy the sound money ‘competition.’ In other words, blow up nuclear armed Russia. Ergo, we are in a bankers war with Russia.
We need to localize our response to need and people in distress. Then kill the dollar. The local homeless, needy, hungry, and destitute would be helped by their neighbors and local charities (not international ones). I envision food pantries and clothing give-aways we have at church now, but on a larger scale.
Quaddaffii had a similar plan, to create an alternative currency, backed by gold.
Hillary killed the plan, quite effectively.
Hope Putin has better luck.
At first I was confused, but upon consulting my COOTUS School of Economics flow chart my thought process has attained compliance with the preferred reality:
We’re not in a recession….
but if we were in a recession it would be a “growth recession… ”
however we are not in a recession…
but if the Republicans take control of Congress there will be a recession in 2023…
and if there is a recession in 2023 it will not be a “growth recession” but the “worst economy since the Great Depression.”
COOTUS. Priceless!
Why is the elephant in the room ignoring the reality we are in a recession right now?
Because the mid-terms are in 21 days!
Once the mid-terms are final, msm will be able to approach the subject of recession more honestly….IF that is even possible with a dishonest media!
NO one is fooled! Every single person I know realizes this stuff is LIES. This type of propaganda is actually helping to radicalize more and more people.
Bring it!
Breaking Now…
FED DEFINES RECESSION AS 50 OR MORE SUCESSIVE QUARTERS OF NEGATIVE GROWTH…
From a New York Post article yesterday “Little guys hurt. Tie it all together and we calculate that since the start of this year, 401(k) plans have suffered $2.1 trillion in losses. The average 401(k) plan had over $135,000 at the start of this year. Today, those assets have shrunk on average to about $101,000.
In other words, the average 401(k) plan is down about $34,000 — more than 25% in less than one year!
(In terms of purchasing power, inflation also has brought the “real value,” in 2021 dollars, of the average 401(k) down another $5,000, from $101,000 to $96,000.)
Let’s say you are doing a little better than average financially and you have a 401(k) plan with $300,000 saved up. You’re still far from “rich.” Your nest egg losses this year are likely to be above $75,000.
The moral of the story, CASH IS KING get out while you still can.
And, if all else fails, you can use it to insulate your house. My dad’s paternal grandfather’s family had the inside of their house papered with Confederate money to insulate it. They also had stacks of it in a bureau to use as kindling. The fedbucks will be useful for that, at least, when their worth is “0”.
The way they are so blase’ discussing the constant raising of interest rates, never adding a phrase such as “with the amount of debt the typical household holds, raising interest raters repeatedly shows a complete disregard for …” They certainly don’t have any problem editorializing when it comes to their special interests; there is an opportunity here to do the same for ours.
I think they are also pretending there is a “war in Ukraine”
*Demand and production is down.
*They want to reduce demand and production further.
*Doing so would harm even more consumers.
Therefore, they don’t need consumers any longer. Between fiat currency and income taxes, the global corporations have the money machine they need to continue to profit. Capitalism, even the crony variety that has been in existence for the past century, is still a very unstable Pareto curve as far as the names attached to those on the left-hand side of the distribution.
Setting all of this in place and then slamming down a form of global socialism/communism has but one effect: The wealthiest people on the Pareto curve never change. What they’re doing now not only causes the consumer to have no power at all, it pulls the ladder of capitalism up and makes success impossible for anyone not already certified as a member of the Club. Without ready access to energy or raw material, non-members will be cut off from climbing up.
“You will own nothing and you’ll be happy.”
Populist change becomes less likely with every passing day that this status quo is allowed to continue. Remember when “equality of opportunity” was the unifying concept of the Republic? That ideal is in the process of being rendered unto ashes.
Equality of opportunity. How quaint. The POC self-identified-female, anchor-baby VEEP has emphasized “Equity” (arm flap, head nod) over and over and over since the campaign trail. Equity is the destroyer of innovation and self-determination. Why should I work my butt off so Lazy Larry down the road can bank on his POC bona fides, self-identify as Lazy Lizzy and reap the rewards of equality of outcome?
Yes, the subsidies and bailouts to govt preferred companies now in full swing in Europe tells the tale and will get the attention of the average person when little else does. This political financial repression only needs one politician to point out the obvious. Trump would and has. Will DeSantis who is fed by the oligarchs?
I cannot believe that they are saying the same things to each other in private.
Watch what they do, not what they say.
I’m sure that someone else has already said it, but there is a good reason that these economic pundits are pretending we’ll be in a recession next year when we all know we are in a recession now.
If Republicans win the House and Senate, the Democrats and their willing puppets in the media will then blame the recession on Republicans.
Who is gonna believe that crap? Not many.
You’d be surprised at the ignorance of the voters….A multitude of them get their knowledge from FB, Twitter and not the least of which on ND. The latter being a neighborhood site. If you were to read in my neighborhood near Stanford, Palo Alto, etc. you’d be incredulous.
Pure and simple attempt to gaslight The “smart” folks into disbelieving their lying eyes regarding the state of the economy for electioneering purposes. They are attempting to kill the recession boogie man that has turbocharged Trump nationalism going into 2022 Nov..
They know “It’s the economy stupid”, and are attempting to undermine reality to sway voters. More craven lying. This is why it is so difficult for S.D. to fathom. Honest people have a hard time computing raw dishonesty.
WSJ is possibly the last MSM outlet that any of the unconvinced (those who believe the recession is currently ongoing) might actually view as having some credibility regarding the economy. Low info voters could still be easily be fooled by the “WSJ reports” angle.
It appears that in addition the movement away from fossil fuels, that Sundance defines as build back better, there is also a strong parallel movement afoot to dethrone the US PetroDollar. Both of these movements will harm our quality of life, and have been for a while.
Both EU and BRICS want to move away from USD dominance and the unfettered POWER that the Dollar’s dominance has given us over them. EU has for 30 years quietly been setting the stage to move to Gold backed currency, as Russia has also been doing with Gold and commodities.
Saudi Arabia leaning towards BRIC membership will also help to undo the US petrodollar. Long story short, everyone else is sick of the US hegemony that is enabled by the dominance of the Petrodollar / SWIFT in world finance/trade.
For example, why was it imperative to take out Gaddafi? He was ahead of the curve, moving oil-producing Libya into a gold based position which was detrimental to the Petrodollar. Thus he was an unacceptable threat.
“We came, we saw, he died, Ha-Ha-Ha”-sHillary.
As hard as it is for peaceful, hardworking, God-fearing Americans to swallow, WE have been the bad guys in the eyes of the world for a long time. The fiat Petrodollar has enabled the corrupt entities (PTB) that function under our country’s banner to rape and pillage the world. (and in recent times the US powers have done the same to all of us, everyday Americans).
Our wake up call is not going to be pleasant. Many of us are still functioning under the misapprehension that has been gaslighted into us for decades:, the lie that we are “the good guys”.
There are no good guys, never have been. (Good people, sure, everywhere), but with the powerful, functioning under whatever banner, it has always been- Us or them, the never-ending struggle for power and dominance.
The simple distractions we have been given, Left/Right, Black/White Good/Evil are simply to keep us all from focusing on those unnamed who have no concern for our wellbeing, but rather only desire to consolidate their power at all costs.
They have been so effective that we the people cannot even begin to name them, those who control everything, the unnamed PTB. They operate under our banner and reflect poorly on all of us while we remain oblivious to their machinations courtesy of longstanding media manipulation.
Everything that is happening is intentional, and our comfort or outcomes are not a concern.
Alas, we are but the deplorable and useless eaters in this this story.
Enjoy the last vestiges of the golden age while it lasts.
Beware the purple (wearing) people eaters.
Biden-Powell-Green-New-Deal-1024×655.jpg
400,000+ unaccompanied minor illegal entries…
No wonder Joe has been inclined to spend so much time in his basement in Delaware!
Excellent comment, thank you.
You want the good news?
Gas prices should drop,
since unemployment will rise and production needs plummet.
Sucks about our home equity and 401ks,
but democracy in Ukraine is worth it, right?
When do we get to wake up and realize it was all a bad dream?
The entire anti-MAGA project is at risk. The WSJ hates MAGA and everyone who supports it. They will lie as big as needed to avoid staggering election losses that exceed the available fraud margins in November.
It’s not just losing, the WSJ needs to help stop a complete bleed-out that daily talk of recession and economic collapse would create. They have to lie, they all do. Because they cannot afford to see the GOP’s margin to grow. They cannot afford veto-proof Congressional majorities. They cannot afford massive MAGA gains when those MAGA candidates are running on THROWING OUT the GOP Congressional leadership – especially McConnell and the like.
They’re not just protecting the Biden regime. They’re lying to protect Murkowski and other rats in the GOP.
And it’s not just the media. Large corporations have been playing dumb, too. They’ll hold off on massive layoffs until after the election to protect the regime and the regime’s GOP lackeys.
We cannot let this lying get to us. Most people already know how bad things are.
The WSJ will lie as big and bad as they need to in order to protect the corrupt status quo.
Chuck Grassley will get right on that
The likely reason that this is happening is that it’s part of China’s long-term strategy to weaken the United States, so that China can become the world’s dominant power over the next Century. Think about it,
China is funding many of these Democrat/Liberal politicians;China has a “Friendly to China” list of U.S. Governors”;China funds divisive politicians that promote anti-religion/anti-family valuesChina sews political discord on social media sites through the use of ‘bots’China is buying up U.S. real estate near strategic military sites;China is buying U.S. food producers to gain control of food suppliesChina is giving money to influential organizations like the NBA to push China-friendly propagandaChina is basically spreading money everywhere to buy corrupt individuals/institutions that will further weaken the U.S. over the L-TUltimately, China is playing the long-game by destroying the U.S. from the inside out. It will weaken the U.S. to the point where they believe that the U.S. will not have the military strength nor the fortitude to fight back against China.
Spot on.
The West is suffering under late stage empirical rot.
China is rising.
It doesn’t take a Nostradamus to see where this is heading.
Even if China hits its own economic malaise, it isn’t dealing with our
inherently corrupt governing system which depends on ever expanding graft.
China just sits still, builds its military, and waits for us to collapse.
U.S. GDP 1Q2022 = $24.7 T
U.S. GDP 2Q2022 = $25.2 T
U.S. GDP is growing, not shrinking.
https://fred.stlouisfed.org/series/GDP#
That and 8.00 will get you a grande latte at Starbucks.
Simple but simply wrong.
You need to compare quarters YOY to get an accurate picture.
And it’s only reflective of the truth if you also factor YOY inflation into your comparison.