According to the International Monetary Fund (IMF) global economic activity, as measured by economic outputs, contracted in the second quarter.  However, when it comes to identifying the cause of the issue, the IMF joins western financial leaders and central banks in playing the game of pretending.

The radical new energy program contained within the Build Back Better agenda, is the root cause of the supply side inflation.  The drop in the production of oil, gas and coal in the same western nations that are following the BBB agenda is origin of the massive spike in energy prices.

Inflation is a major issue, geographically consistent and virtually identical in all the nations who are following the Build Back Better climate change agenda, which is the justification for the energy ‘transition.”  However, not a single leader, central bank or multinational financial institution -including the IMF- will admit the energy policy is the cause of the issue.

(IMF) – The world’s three largest economies are stalling, with important consequences for the global outlook. Inflation is a major concern.

The global economy, still reeling from the pandemic and Russia’s invasion of Ukraine, is facing an increasingly gloomy and uncertain outlook. Many of the downside risks flagged in our April World Economic Outlook have begun to materialize.

(more…)

A key metric in the data released by Wal Mart is not their upfront sales and profit. The recessionary KPI (key performance indicator) is a significant increase in same store sales of 6% (excluding fuel), yet the outcome of that increase in customers is a decrease in profit because the purchases are food.

[Keep an eye on this and we will likely see a similar increase in foot traffic at Aldis]

(VIA NBC) […] Walmart, which is the biggest grocer in the U.S. and often considered a bellwether for the overall economy, said more customers are turning to its stores, which are known for low prices, to fill their pantries and fridges. But they are skipping over general merchandise that they can live without.

Walmart said it now expects same-store sales in the U.S. to rise by about 6% in the second quarter, excluding fuel, as customers buy more food at its stores. That’s higher than the 4% to 5% increase that the company previously expected.  However, that merchandise mix will weigh on the company. Groceries have lower profit margins than discretionary items, such as TVs and clothing.

(more…)

It is only one U.S. company; however, the makers of Weber Grills and products released their sales data, and the background shows a severe economic contraction that has resulted in their operating loss of $51 million in the quarter that ended March 31, 2022.  NOTE THE DATE.

July 25 (Reuters) – Weber Inc (WEBR.N) on Monday replaced top boss Chris Scherzinger with an insider and warned that mounting inflationary and supply chain pressures could hit the grill maker’s financials and workforce, sending its shares down 20% in premarket trading.

The company withdrew its fiscal 2022 net sales and core earnings forecasts, saying higher consumer prices and geopolitical uncertainty were squeezing store traffic as well as margins.

Weber, which also suspended its quarterly cash dividend, said it was pursuing a number of initiatives, which may include job cuts, reducing expenses and tightening its inventory levels.

(more…)

Senator Elizabeth “Fauxcahontus” Warren writes an op ed today [SEE HERE] that is fraught with a level of ideological pretending almost off the charts.

Essentially Liawatha is big mad because Federal Reserve Chairman Jerome Powell is raising interest rates into a contracting economy.

The duplicitous senator accurately notes what the fed chairman is doing is only going to deepen the recession and hurt main street worse.

American workers are going to suffer, and the middle-class is going to bear the majority of the pain inflicted by the Biden administration policy.

All of that is true, but Fauxcahontus is not stupid.  Instead, she attempts to distance herself with forked tongue while knowing the monetary policy is specifically designed to support the energy policy she demands.

A recession lowers energy use, and as a result lowers energy costs. Pushing the U.S. economy deeper into a recession in order to support the Green New Deal “economic transition” is exactly the intent of the rate hikes.  Liawatha knows this but does not want to be stuck on the USS Biden when it sinks.

“Rising costs are an urgent problem, and interest rates play a key role in maintaining price stability. But urgency is no excuse for doubling down on a dangerous treatment. As with any illness, the right medicine starts with the right diagnosis. Unfortunately, the Fed has seized on aggressive rate hikes—a big dose of the only medicine at its disposal—even though they are largely ineffective against many of the underlying causes of this inflationary spike.” (read more)

Senator Elizabeth Warren is the worst kind of liar.  She is a liar that convinces her followers of her virtue through forked tongue.  Turn over the Senator Elizabeth Warren UniParty medallion and on the opposite side you will find the image of Senator Ted Cruz.

(more…)

No credit to the CNN team for calling out the obvious; I mean, this is the same panel who redefined “insurrection” to fit their needs; however, the Biden administration’s efforts to redefine economics are so pathetic even the narrative engineers at CNN cannot support them.  WATCH:

.

(more…)

The White House is expending a tremendous amount of communication effort over the past 48 hours trying to convince the American public that the economy is good, and we are not in a recession.

Yesterday it was Treasury Secretary Janet Yellen. Today National Economic Council Chairman Brian Deese, White House Economist Jared Bernstein and even Joe Biden himself, all declaring that despite the economic contraction you may feel, see and even quantify, we are not in a recession.  WATCH:

.

The action of the recession deniers reminds me of the famous Ralph Waldo Emmerson quote:

“The louder he spoke of his honor, the faster we counted our spoons.”

(more…)

As oft repeated, in order for severe ideologues to retain their insufferably bad policy they must pretend not to know things.  However, in the case of food shortages, the pretending about the origin of the problem has severe consequences.

Vladimir Putin’s military action against eastern Ukraine had nothing to do with the severe food shortages and inflation in Sri Lanka {link}.  Nor does Putin have any influence over the Dutch government trying to stop food production {link}.  Additionally, Putin has no control over Justin Trudeau’s decision to limit harvest yields by blocking the use of nitrogen-based fertilizer {link}. More importantly, it was not Vladimir Putin who forced all the western politicians to sign up for a new ‘climate friendly’ energy program that is destroying the ability of western farms to generate higher yield crops.

You do not need to be a farmer to understand that nitrogen/phosphorus-based industrial fertilizer has been the reason why farm yields have generated massive amounts of food on a global basis.  The United States, Canada, the U.K. and places like the Netherlands have massively increased their ability to generate food for export, in large part due to the success of improved fertilizer and crop saving modern pesticides.  Take those farming advancements away under the guise of climate change and you get a global Sri Lanka.

Those western climate and energy policies create downstream consequences.  The decision to chase a new global energy policy under the name “Build Back Better,” in combination with short-sighted EU sanctions against Russia, and you get food shortages. And boy howdy are they trying to avoid taking responsibility for it.

It was not Vladimir Putin who told British Prime Minister Boris Johnson and German Chancellor Olaf Scholz their proactive recommendation to switch from crop-based biofuels to human food would be blocked.  That G7 decision was made by Justin Trudeau and Joe Biden. {link} Even more significantly, it was not Russia who threatened the multinational energy companies about investing in Africa for expanded natural gas supplies for their fertilizer needs. That threat came from the same western government alliance, per their instructions from the World Economic Forum group {link}.

(more…)

Donald Trump and Elon Musk have something in common….

“It must be remembered that there is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage than a new system. For the initiator has the enmity of all who would profit by the preservation of the old institution and merely lukewarm defenders in those who gain by the new ones.”

~Machiavelli

For Elon Musk it is the organization of Twitter with 7,500 employees dedicated to ensuring he would never succeed in his takeover effort.  From the board of directors to the data engineers who build the controlling algorithms, to the third-party service providers who manage the data demand, there are likely only a handful of people within the entire corporation who would welcome the type of change Elon Musk represents.

As a result of the scale of opposition, any organizational takeover would ultimately deliver a company filled with sleeper cells and activist agents who consider it their personal and ideological mission to destroy the social media platform rather than accept change.  The purchase effort was doomed from the outset, considering Musk represented something akin to Rand Paul being nominated to lead the World Bank or Federal Reserve.  Some stuff just isn’t possible.

We The People attempted the Musk route when we sent President Donald Trump into Washington DC.  However, instead of one institution with 7,500 people, it was dozens of institutions housing hundreds of thousands of entrenched ideologues.  Most MAGA voters did not realize it at the time because grade school civics was never updated with our post-9/11 political outcome.

(more…)

Until people understand what is happening, we cannot correct things or even respond to them accurately.  Many people don’t want to accept what is happening.  Even more still believe in the Schoolhouse Rock civics they were taught in grade school and cannot accept how these ideologues operate.  As long as denial remains a survival mechanism, correction is difficult.

All of the people on the monetary policy side of the economic equation are working earnestly to manage the global economy into a decline thereby slowing the need for energy production. The bankers are supporting the Build Back Better policy makers by putting the western economies into an intended contraction.  Slowing the western economies helps to lower energy use and moderate/offset the extreme increases in cost (coal, oil, gas, electricity, fuel etc) the policies are creating.

Lower economic activity means less income, job security and wealth for the working class. Simultaneously, increased energy costs mean more expenses for the same workers who are losing income and wealth.  This is the ‘managing’ part of their collectively “managed transition.”  They are monitoring and managing the pitchforks.

In this Meet the Press segment with Treasury Secretary Janet Yellen, you will note she says “lower economic activity during this transition” is good.  She also happily says businesses are taking “appropriate” action to lower their activity, because that is exactly what the central planners want.  They want businesses to do less, create less, sell less, even employ less, because ultimately, they want businesses to help advance the cause of climate change by consuming less energy resources.  WATCH:

The central bankers are trying to support western government policy.  Unfortunately, the government policy they are under obligation to support is the fundamental energy shift, or what the World Economic Forum (Davos Group) has called the “Build Back Better” climate change agenda.

(more…)

Joe Biden officially declared that Donald J Trump is “the Great MAGA King,” during a speech last month.

Well, according to the latest polling results from the Turning Point USA, Student Action Summit, a new generation would agree with Biden.  Donald Trump wins the 2024 straw poll with 79% support. The next closest candidate was Florida Governor Ron DeSantis with 19%, and all other candidates are asterisks.

(Via Fox News) – Tampa, Fla.– Former President Donald Trump dominated the 2024 GOP presidential nomination straw poll at the Turning Point USA Student Action Summit Sunday, Fox News has learned.

TPUSA polled conference attendees—youth activists from around the country—who they would vote for in 2024 if Trump decided to launch another White House run. The straw poll was sponsored by Turning Point Action, the affiliated 501(c)(4) of TPUSA. 78.7% attendees said they would vote for Trump.

(more…)