The people controlling policy behind the Biden administration do not care about polling or political consequence.  Biden is the one-term disposable tool for their collective effort to fundamentally change the United States.  They have a singular focus on pushing the most destructive and consequential Green New Deal policy regardless of collateral damage.  For them, using Joe Biden is a one-way ticket.

That said, none of the current political officeholders within the Democrat apparatus are going to escape the blast radius from this chaos.  CNN runs a segment asking the question, how bad is the damage going to be from the Joe Biden economic policy?  WATCH (90 secs):

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The “Producer Price Index” (PPI) is essentially the tracking of wholesale prices at three stages: Origination (commodity), Intermediate (processing), and then Final (to wholesale). Today, the Bureau of Labor and Statistics (BLS) released the May 2022 price data [Available Here] showing another 10.8% increase year-over-year in Final Demand products at the wholesale level.

The inflation within the total goods supply chain continues to accumulate at a more significant rate than the finished goods on the store shelves.  This means replacement goods will continue arriving with higher prices than current.   Final demand goods in May were 1.4% higher than April (16.8% annualized).  And the May year-over-year prices show a 10.8% increase [See Table A].  However, there’s more trouble ahead:

More troubling than the final demand price increases (wholesale finished goods), are the price increases in the intermediate goods and unprocessed raw materials.

Intermediate processed goods increased 2.3% in May (27.6% annualized).  The intermediate unprocessed goods, raw materials, jumped even higher in price at 6.3% for May (that’s a whopping 75.6% annualized increase).   It would appear the raw materials coming into the goods sector are coming in with even higher built-in energy costs than most people anticipated.

Once those intermediate products reach the final demand stage (wholesale), the cumulative price increase will mean even higher consumer prices.

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There is one big problem for the people inside the Biden administration executing the Green New Deal energy policy, the massive increases in energy cost including gasoline.

You see, everything is an academic estimate until the actual Green New Deal is transferred from theoretical policy into a set of actions that creates a major disruption in the economy.  As things in society start to collapse; and as people begin to really feel the inflationary consequences of the Biden energy policy in action; suddenly all of those ‘talking points’ about shutting down the fossil fuel industry take on a new meaning.   People didn’t realize the Green New Deal was going to mean $10/doz eggs, $15/gal milk, $20 happy meals at McDonalds, or $150/tank of gasoline…. Now they are paying attention.

For former EPA Administrator Gina McCarthy, the current senior climate and energy policy advisor within the White House, all of these ‘in your face‘ surfacing Green New Deal consequences have become problematic for the Biden administration.  Her proposed solution, however, is rather remarkable.

In this interview discussing the skyrocketing inflation and consequences created by the Green New Deal policies, Gina McCarthy urgently begs all of the social media companies to start removing the content from American people who are giving real world examples of the pain and economic hardship they are feeling.  McCarthy says that if social media do not start to help Joe Biden hide the pain, the climate change agenda might be at risk.  WATCH [11:00 prompted]:

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Mohamed El-Erian is generally more correct than most, but the insufferable coded language he is required to use makes it difficult for the ordinary person to see exactly what he is saying.   For this CBS segment, we will apply the decipher. [Transcript Here]

Notice this key phrase in the beginning of his discussion of inflation. “Of course, we know about the Ukraine war, we know about the energy transition, also the Federal Reserve mischaracterize inflation and fell behind.”  No, Mohamed, most Americans do not know about the forced energy transition and how that has created this unavoidable inflation spiral.  How about dropping the code and saying it directly?  Joe Biden initiating the Green New Deal means much higher prices are permanent.

El-Erian speaks about supply side inflation, but doesn’t want to talk about the next phase, demand and service side inflation.  The three month inflation data is higher than the year-over-year inflation data. That means inflation is growing.  There is no way for inflation to drop when the most recent price increases are significantly higher than the previous price increases.  Inflation is now detached from any intervention. WATCH:

Consumer demand for non critical goods are contracting at the same time prices continue rising (that’s stagflation).  Demand side contraction, what El Erian calls “demand destruction,” means lost jobs (that’s recession).  Food, fuel and energy prices all continue rising.  The field costs are higher than current fork costs, and that (30%+) wave of inflation coming in from over the horizon is going to blow the doors off any economic growth.  The process is unavoidable now.

The credit markets will feel the impact before the end of the year as consumers will no longer be able to make payments for loans, and still eat.  Mortgage defaults will increase, vehicle repossessions will increase, credit card debt and bankruptcies will increase. The credit markets will get drowned in a tsunami of default.  That’s the direct language El Erian will not use, but it is present inside the coded-language he does use.

If you did not purchase a house this year, you are ahead financially.  Equity and values are plummeting.

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Joe Biden’s repeated use of the phrase “Putin’s price hikes” is intended to shift responsibility for inflation away from his own policy and assign blame to Russia. Biden is essentially pretending that Vladimir Putin has control over White House energy policy, in order to protect his administration from the American people realizing all of the economic pain they feel is being done purposefully.

Putin didn’t price hike anything. The cause of the current spike in global oil prices was created, in the largest part, by the western sanctions against Russia; not the action of Russia itself.

Factually, massive global inflation began in early 2021 as an outcome of Western government spending and monetary policy. The U.S. Federal Reserve, EU and western alliance central bankers created the issue and were always going to face inflation as an outcome of their agreed direction. As the inflation started to become a serious political problem for them, the Ukraine conflict became the excuse, the blanket to hide the real origin of the problem.

Almost every western government leader now deflects responsibility for their inflation by pointing fingers at Vladimir Putin, this is not coincidental.  Just like their agreement to follow each other into the unsustainable spending spiral via “Build Back Better,” the same Western alliance -united members of the World Economic Forum- must now collectively deflect attention away from the consequences of their catastrophic agenda.

The global inflation crisis is, in essence, a direct and immediate outcome from the designs of the ‘The Great Reset.’  It is within this reset where the global cleaving is underway.

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Mohamed El-Erian, Allianz and Gramercy advisor, is one of the least dishonest people amid the Wall Street propaganda crowd.  Although due to peer pressure, he still tends to couch his economic analysis behind the CNBC screen of pretending not to know things.   [On a personal level, I bet this guy is 80% cash right now.]

This interview is generally not that impressive.  However, at the very end of this segment talking about inflation, what El-Erian says about the first 10 days of June is 100% and he’s the first person to say it. But he won’t repeat it.  WATCH (Prompted):

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He’s looking at the same data set we are.  Watch closely when the May Producer Price Index (PPI) is released (origination, intermediate and final demand to wholesalers), we will see how the inflation costs are continuing to accumulate in the supply chain for all goods and leaking over into the vulnerable service sector now.

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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.

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

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

Janet Yellen soundbite below.

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

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

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

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

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

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

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

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

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