The Bureau of Economic Analysis (BEA) is scheduled to deliver their calculation for the second quarter (Apr, May, June) Gross Domestic Product (GDP) on July 28, next week.   The calculation is essentially the total value of all goods and services generated within the U.S. economy, minus the value of exports received.

CTH has predicted the people within the BEA research group [SEE HERE], ie those who make the determinations of GDP, will circle the statistical wagons and generate something akin to a positive 0.5% GDP figure for Q2.

The reason is simple… As with all other highly political institutions in U.S. government, the BEA is driven by political ideology.

With the Biden administration’s Green New Deal energy policy driving the U.S. economy into the ground; and with the BEA statisticians worshipping at the same governmental altar as all other climate change ideologues; they will do everything in their power to defend what the people behind Joe Biden are doing.

[For the greater good and all things that are associated with that line of elitist thinking.]

The BEA data team will first play with the statistics by underestimating the rate of inflation in their value calculations.  If that effort doesn’t yield the desired result, the BEA will likely move to avoid calculating import data from the West coast (Port of LA, Port of Long Beach, and/or Port of Oakland) for the month of June.  The current labor union and trucker issues within the ports will help create the noise to justify any interim data that is false.  [Whoops, we’ll catch it in the updates, etc]

That’s just how this BEA crew rolls.  If they can save the planet by fudging the statistics, well, they will have done their part.  This approach, the expression of ‘their truth‘, is just an outcome of this great new era of pretending in our modern ideological banana republic. Hey, Wall Street is built upon a foundation of lies, insider trades on proprietary information and manipulation of values, so why shouldn’t everything else – including govt economic data?  Fair’s fair, right?

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Neil Oliver uses his weekly monologue to challenge the originating precept of the Great Reset, Build Back Better or New World Order, agenda. Get beyond the talking points and every policy from within the World Economic Forum instructions boils down to the quackery behind anti-humanism.

“The so-called Green Agenda is predicated on the rape of the earth for rare minerals, lithium and cobalt and more,” he points out. “Also, metals like copper, silver and gold. The extraction of those commodities means wholesale destruction of environments,” he adds. “Before a single turbine is raised or solar panel set in place, the sites are cleared and sterilized of all life. The turbines held up by massive plunks of concrete and while in action they kill millions of birds. When they come to the end of their working lives there’s nothing to be done with the colossal blades but to bury them in vast landfill sites.”  As Oliver notes all of this is being done under the hypocrisy of calling it “green”. WATCH:

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You will switch to bugs, and you will like it.  After using government incentives and subsidies to build a new facility in London, Ontario, to manufacturer 9,000 metric tons of crickets for human consumption to replace cows, pigs and chickens, Canadian Prime Minister Justin Trudeau now triggers a series of nitrogen emission reduction regulations to target traditional farming.

Prime Minister Justin Trudeau is following the same roadmap as his political friend in the Netherlands, Dutch Prime Minister Mark Rutte, and the Canadian farmers are not happy about it.

CANADA – Saskatchewan and Alberta Ministers of Agriculture are expressing profound disappointment in the federal government’s fertilizer emissions reduction target.

“We’re really concerned with this arbitrary goal,” Saskatchewan Minister of Agriculture David Marit said. “The Trudeau government has apparently moved on from their attack on the oil and gas industry and set their sights on Saskatchewan farmers.”

“This has been the most expensive crop anyone has put in, following a very difficult year on the prairies,” Alberta Minister of Agriculture Nate Horner said. “The world is looking for Canada to increase production and be a solution to global food shortages. The Federal government needs to display that they understand this. They owe it to our producers.”

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President Trump will be delivering a speech today at the Turning Points USA, Student Action Summit, in Tampa Florida.  RSBN Coverage of the event begins at 4:00pm ET. The Great MAGA King, Donald J. Trump, is expected to speak starting at 7:00pm ET.  Livestream Link Below

RSBN Rumble Livestream Link 

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Energy Secretary Jennifer Granholm couldn’t tell you the difference between electromagnetic or nuclear energy if her life depended on it.  Then again, there’s not a single “climate change” ideologue in the Biden administration who has any concept of science at all.  None of them.  To them, everything is politics.

As you watch this brief soundbite from remarks Energy Secretary Granholm made to the Global Clean Energy Action Forum, pay attention to what she says and the way she says it.  The pantomime of how she says it. [11 seconds] WATCH:

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What state elected her governor?  Oh yeah, she’s from Hunger Games district 5.

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Purchasing managers for both goods and services are reporting a strong contraction in orders.  The decline in goods has been subtle up to this point, with June and July now reflecting a significant change to the negative.  More concerning is the severe change on the service side.

Contraction within business activity is now happening in almost all sectors of the economy.

Bloomberg Reports – US business activity contracted in July for the first time in more than two years as manufacturers and service providers signaled sluggish demand that only adds to heightened recession anxieties.

The S&P Global flash composite purchasing managers output index slid 4.8 points to 47.5, the weakest reading since May 2020, the group reported Friday. Outside of the early months of the pandemic, the July figure is the weakest in data back to 2009. Readings below 50 indicate contraction. 

[…]  “The preliminary PMI data for July point to a worrying deterioration in the economy,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement.

“Manufacturing has stalled and the service sector’s rebound from the pandemic has gone into reverse, as the tailwind of pent-up demand has been overcome by the rising cost of living, higher interest rates and growing gloom about the economic outlook,” Williamson said.

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EU Commission President Ursula von der Leyen, a woman of notoriously bureaucratic disposition, has proposed that all member nations to reduce their use of natural gas by 15% in order to subsidize and protect the larger member nations -specifically Germany- who are more dependent on Russian energy.

Spain, Portugal and Greece are balking at the idea of voluntary cuts in order to spread the energy resources to the larger economies.

Things amid the EU could get spicy again, with the league of nations in Brussels taking control of economic wealth distribution.

BRUSSELS, July 20 (Reuters) – The European Union set out emergency plans on Wednesday for countries to cut their gas use by 15% until March, warning them that without deep cuts now they could struggle for fuel during winter if Russia cuts off supply.

Europe is racing to fill its gas storage ahead of winter and build a buffer in case Moscow further restricts supplies in retaliation for European support for Ukraine following Russia’s invasion.

[…] The regulation needs approval from a reinforced majority of EU countries. Country diplomats are set to discuss it on Friday, with the aim of approving it at an emergency meeting of their energy ministers on July 26.

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From the CTH perspective, if we accept the scale of the approaching U.S. economic pain that is clearly visible on the horizon, this narrative shift from the Associated Press and NPR, about a balancing act for U.S. policy and a corrupt Ukraine government, seems very predictable.

The average U.S. worker, and the middle class in general, is in trouble.  The visible reference of bailing out the people of Ukraine to the tune of $60+ billion is legislative salt in an open economic wound caused by Biden policy.  A shift is needed.

Pivoting away from Ukraine to focus on financial subsidies for Americans requires using a particular arm-distancing toward Zelenskyy from the politicians.   Look, corruption.

Here we go:

WASHINGTON (AP) — Ukrainian President Volodymyr Zelenskyy’s dismissal of senior officials is casting an inconvenient light on an issue that the Biden administration has largely ignored since the outbreak of war with Russia: Ukraine’s history of rampant corruption and shaky governance.

As it presses ahead with providing tens of billions of dollars in military, economic and direct financial support aid to Ukraine and encourages its allies to do the same, the Biden administration is now once again grappling with longstanding worries about Ukraine’s suitability as a recipient of massive infusions of American aid.

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The goal of this outline is to answer a frequent question about what the alignment of government and private sector officials mean when they say, “managing the transition.”  Some of this is self-explanatory, some of this has been astutely explained by others (with specific reference points), yet much of this is what they cannot say publicly.  So here we go.

As you are well aware the various western nation central banks including the U.S. Federal Reserve, are raising 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]

I will further expand, and hopefully this will provide information so that you can make decisions on how to protect your interests.

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.

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.  Raising interest rates into an already contracting economy only 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.

However, that said, there is one benefit from a recession…. Energy use drops.

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During his opening monologue tonight, Fox News host Tucker Carlson outlined the background of Joe Biden’s “climate emergency”, and the hypocrisies of their theories as compared to their behavior. WATCH:

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