During a speech today, Joe Biden bragged about the example of his visit to a Massachusetts coal-fired plant that was forced to close due to regulation.  However, what Biden didn’t mention was the energy provider telling customers to expect a 64% increase in electricity rates effective November 1st.

BIDEN: …”I was just — and so we can accommodate that transition.  I was in Massachusetts about a month ago on the site of the largest old coal plant in America.  Guess what?  It cost them too much money.  They can’t count.  No one is building new coal plants because they can’t rely on it, even if they have all the coal guaranteed for the rest of their existence of the plant.  So it’s going to become a wind generation.

And all they’re doing is — it’s going to save them a hell of a lot of money, and they’re using the same transmission line that transmitted the coal-fired electric on.  We’re going to be shutting these plants down all across America and having wind and solar.”… (link) 

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Miami-Dade County has long been the stronghold of Democrat voters in Florida.  With more than 1.5 million registered voters in the county Miami-Dade has long been the backstop for Democrats in Florida.  With deep red areas in the Southwest coast and Florida panhandle area, the axiom has long been said: ‘lose Miami-Dade and Democrats lose Florida’.

That said, incredibly Republicans in Miami-Dade are outvoting Democrats. [DATA HERE] This is happening despite the recent visit by Joe Biden to Miami to generate support for the blue ticket.  With President Trump being the most supported political figure in the region; and with President Trump bringing the final finishing nails this weekend for a rally in Miami-Dade on behalf of the republican ticket, Democrats are apoplectic.

FLORIDA – […] “This is not what we expected,” said Christine Alexandria Olivio, the Democratic House candidate in Florida’s 26th Congressional District in South Florida. “This is worse than what we expected. We’re getting our butts kicked right now.” She was running against Republican Rep. Mario Díaz-Balart, the longest-serving member of Congress in Florida.

Registered Democrats still outnumbered Republicans in Miami-Dade, but the latest figures indicated Democrats – at least so far – were voting in far fewer numbers than their GOP counterparts.

The swing toward higher Republican turnout in the county – with just one week before the election – was widely interpreted as a sign of support among the area’s Hispanic voters for incumbent Republican Gov. Ron DeSantis – and a lack of enthusiasm for his Democratic challenger, Rep. Charlie Crist. The county is nearly 72% Hispanic.

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In the prediction section of the recent Twitter discussion {Go Deep} CTH mentioned the reason and unspoken motive behind a prediction that multinational corporations would start to pull their advertising money from Elon Musk.

We are simply in an era where there is no distinction between the WEF guidance for multinational corporations and the instructions toward governments’ they support.  Free speech and freedom of expression are against both their interests.

Multinational corporations are political entities.  The former distinctions between the private and public sector have been purposefully erased.  Evidence can be found in the vaccination mandate and within corporate responses to voter outcomes during elections. {Go Deep}

As predicted, it begins….

(Via Wall Street Journal) – Food company General Mills Inc., Oreo maker Mondelez International Inc., Pfizer Inc. and Volkswagen/Audi are among a growing list of brands that have temporarily paused their Twitter advertising in the wake of the takeover of the company by Elon Musk, according to people familiar with the matter.

Some advertisers are concerned that Mr. Musk could scale back content moderation, which they worry would lead to an increase in objectionable content on the platform. Others are temporarily halting their ads because of the uncertainty at the company as top executives exit and Mr. Musk considers a raft of changes, some of the people said.

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For his opening monologue tonight, Fox News host Tucker Carlson deconstructed Joe Biden’s midterm election speech broadcast on national television Wednesday night. WATCH:

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It’s all a ruse; an economic shell game being played for politics – nothing more.

Consider this quote from Fed Chair Jerome Powell today, “Inflation remains well above our longer-run goal of 2 percent. Over the 12 months ending in September, total PCE prices rose 6.2 percent. Excluding the volatile food and energy categories core PCE prices rose 5.1 percent. And the recent inflation data again have come in higher than expected. Price pressures remain evident across a broad range of goods and services. Russia’s war against Ukraine has boosted prices for energy and food and has created additional upward pressure on inflation.” (source)

You can argue Powell’s points of demand side inflation all day long, it matters not. It’s nonsense.  Take interest rates to 10%, or even eleventy percent, and that will not stop inflation because demand is not creating it.  Current inflation is a supply side issue, driven by a radical change in energy policy.  I have made this case for well over a year, sooner or later people are going to have to stop believing the demand side nonsense.

As Powell himself noted, “with today’s action, we’ve raised interest rates by 3 ¾ percentage points this year,” and yet inflation hasn’t flinched.  Why? Because there was no excess consumer demand to tame all year.  Demand for consumer goods has been in a freefall since the fall of 2021, while the prices of those goods have remained on an upward trajectory because costs associated with producing them continue rising.  That’s a supply side inflation issue, not demand – but Powell cannot admit it.

Powell […] “Even so, we still have some ways to go. And incoming data since our last meeting suggests that the ultimate level of interest rates will be higher than previously expected. Our decisions will depend on the totality of incoming data and their implications for the outlook for economic activity and inflation. We will continue to make our decisions meeting by meeting and communicate our thinking as clearly as possible.

We’re taking forceful steps to moderate demand so that it comes into better alignment with supply. Our overarching focus is using our tools to bring inflation back down to our 2 percent goal and to keep longer-term inflation expectations well anchored.”

If you want to take the pretending out of the paragraph and make it truthful, insert the word energy:

“We’re taking forceful steps to moderate [energy] demand, so that it comes into better alignment with [policy driven energy] supply.” 

There.  THAT’S THE TRUTH !!

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Joe Biden does not write his tweets, that is certain.  However, whoever is writing on his behalf sure has an odd way of promoting administration energy policy.

In a Tweet last night [link here] Joe Biden demands oil companies’ lower prices and increase production, or he will raise their taxes and increase regulation:

In essence, lower the prices and increase production or Joe Biden will increase the prices and lower production.  How does this make sense?

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CTH has covered the origin of food inflation since we first raised the alarms in the spring of 2020.  A confluence of events starting with the fracturing of the food supply chain (shutting down restaurants, hospitality venues, schools, cafeterias, etc), created the initial major problem.  Consumer Packaged Goods (CPG) sold at retail stores could not keep up with demand after 50% of the food supply system was shut down.

Within the U.S. retail food supply chain (350+ million people), manufacturing CPG products relies on a system of staying one to two harvest cycles ahead of demand.  However, when restaurants and fresh food venues were closed, very quickly frozen, bulk stored and siloed U.S. food storage systems, the storage needed for CPG products, were emptied.

Long after the time when all food distribution was reopened, the shortages of CPG products continued. You saw the result with empty shelves at the supermarket.  It takes a long time (years) for those inventories to refill.

We warned of this in 2020 and then followed the predictable outcome in 2021 and 2022.

When Joe Biden then shut down the U.S. energy production system in early 2021, the massive increases in energy costs -and the shortages of natural gas- became fuel on the inflationary fire of CPG goods.  Again, in October 2021 CTH noted that retail prices were going to rise quickly, and they did.

Throughout 2022 food prices have risen dramatically as the food distribution and processing system was now under pressure from all sides.  The shortage of inputs (to refill food storage and warehousing needs) combined with the much higher costs to generate those inputs -the direct result of the exploding energy costs- created massive inflation pressure.  The pricing result we are seeing now (third wave of food inflation) is exactly what we have stated, discussed and predicted for more than two years.

While all food costs are skyrocketing, the prices for manufactured or processed food are much higher than the price increases for fresh food.

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Will big tech and social media remove Joe Biden for violations of misinformation, disinformation and malinformation?  Considering his remarks today, they should.

Reading from a teleprompter loaded with lies about the economy, Joe Biden stunningly states that gas prices are lower today than when he took office. Further claiming that gasoline was $5/gal.  {Direct Rumble Link} Nothing about any of his economic claims is true.  WATCH (1 min):

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Allowing people to return to work after the pandemic lockdowns is not “creating jobs.”  And gasoline was not $5/gal when Joe Biden took office.

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The topline of a third-quarter GDP at +2.6% looks good [DATA HERE]. However, a look into the numbers shows alarm.  The domestic U.S. economy, as measured by Main Street creating goods and services for domestic consumption, contracted in the third quarter.

The Gross Domestic Product (GDP) calculation is a valuation of all goods and services created within the economy, minus the value of goods and services imported.  However, even a cursory look under the topline number shows how the import/export dynamic creates the illusion of economic growth.

In the third quarter we exported hundreds of billions worth of energy products, including massive liquified natural gas (LNG) sales to Europe, and oil sales to the global market from the strategic petroleum reserve.  We also sold billions in weapons to Europe. Those sales are calculated as exports, lifting the GDP number (Table 1).  At the same time, imports of durable goods into the United States collapsed; meaning less was deducted from the GDP.  The net import/export impact on the GDP dynamic was +2.77% (Table 2).

Meaning the third-quarter import/export dynamic alone contributed 2.7% growth to the percentage of change for the prior period.  However, the total GDP only rose 2.6%, because the actual economic value created domestically got smaller.  We made less internally, sold less internally and consumers purchased less internally.

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A lot of people didn’t like Steven Mnuchin as Treasury Secretary, I did.  Secretary Mnuchin was an inside player, a billionaire himself, who worked for the outside team.  He already had a full bank account and carried ‘f**k-off’ money.   That, combined with Wilbur Ross having the same ability, was exactly what we needed to execute the America-First MAGAnomic resurgence.

The U.S. middle-class saw and felt the benefits.  Economic security is national security, at a nationwide and even individual level.  Mnuchin, Ross and Lighthizer constructed that economic outcome guided by the larger strategy of President Donald J Trump.

RIYADH, Oct 26 (Reuters) – Former U.S. treasury secretary Steve Mnuchin said on Wednesday he believed the United States was in a recession and said this would continue.

Speaking at Riyadh’s flagship investment conference FII, he said: “I think we’ll probably see a peak of 4.5% 10-year rates.”

“I think you are going to see inflation in the U.S. begin to come under control, it will probably be a two-year period,” he added.

He said the U.S. and China must learn to co-exist. He added that the Middle East’s economic issues need to be dealt with regionally. (link)

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