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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You do not need anyone to affirm that Main Street is in trouble, you can see it all around you.  Inflation is crushing blue-collar and white-collar workers as prices continue to rise on essential goods. Consumer spending is now prioritized around the higher cost of housing, energy, gasoline and food.  Family earnings are spent before the paychecks arrive for most Main St workers, and now we are starting to see the alarming result economic contraction, beginning with small businesses.

That’s the message within the ADP private sector payroll report released today [DATA HERE], which shows a contraction in small business employment.  Economists were looking for private payroll increases in the 300,00 range; but the result was far lower at 128,000.   Small businesses lost 91,000 jobs in May.  Main Street is in trouble.

WASHINGTON, June 2 (Reuters) – U.S. private payrolls increased far less than expected in May, which would suggest demand for labor was starting to slow amid higher interest rates and tightening financial conditions, though job openings remain extremely high.

Private payrolls rose by 128,000 jobs last month, the ADP National Employment Report showed on Thursday. Data for April was revised down to show 202,000 jobs added instead of the initially reported 247,000. Economists polled by Reuters had forecast private payrolls increasing by 300,000 jobs. (read more)

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Does anyone remember during the Jimmy Carter era when odd/even days on license plates to get gas?  Well, if the International Energy Agency is accurate, and the issue extends into the U.S. as predicted by many industry insiders, we could very well see gasoline rationing once again.

Beyond all the obfuscation, denial and continual pretending, the reason for the gasoline shortages is related to this forcible shift in energy policy that is underway in Europe and the United States.  It’s not a shortage of oil, it’s the new era where the Green New Deal is the policy priority.  The people within the Biden administration do not care about the consequences, Biden is pushed in front of the camera as a useful idiot to take the blame.

Business Insider – The US could see fuel shortages this summer once people start taking their vacations — and Europe could take a particular hit from the lack of supply, the head of the International Energy Agency has warned.

“When the main holiday season starts in Europe and the US, fuel demand will rise,” Fatih Birol told Der Spiegel. “Then we could see shortages — for example, in diesel, petrol or kerosene, particularly in Europe.”

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Tucker Carlson accurately puts the spotlight on former presidential candidate, Senator Elizabeth Warren, as he outlines the destructive nature of the Joe Biden economic and energy policies.  Warren is an academic. Everything Warren has created and advocated comes from theory and academics.  Senator Warren has never built anything, created anything, or worked on a system to contribute anything.  Elizabeth Warren is 100% an academic and activist wonk, just like Barack Obama.

Tucker is right to focus on Warren because as we have outlined previously, control over energy policy and economic influence was the price candidate Warren demanded in 2020 for going along with the plan to install Joe Biden.  Her endorsement came with the demand that she be allowed to take her energy and economic theories and put them into actual economic policy for the Biden administration.  Tucker’s the first person I have seen to connect the two.  WATCH:

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In order to keep control over the literal application of her theory, Warren had demands for the businesses and companies that operate within the economy.  That’s why she is desperate to build mechanisms inside government policy where approvals and/or disapprovals take place.   Tucker got this monologue correct.

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Have you ever seen egg prices at $1 per egg range, or $12/doz?  Hold on a few months and perhaps you will.  That is the context for the scale of food price increases the USDA is now starting to predict.  The highest predicted change in food costs in well over 40 years, that’s the USDA warning in their revised May “Food Price Outlook”. [DATA HERE]

This month the USDA just re-re-revised the forward price outlook, and things are grim.  It likely doesn’t come as a surprise to many CTH readers because we have been discussing the convergence of events since October of 2021, when we first were able to predict Wave-1 (Dec/Jan), and Wave-2 (March/Apr) inflation.  However, the underlying data for Wave-3 is double the prior two phases.

Keep in mind the data is national & skewed toward low estimations as represented by (+).

When the USDA predicts egg prices increasing by 19.5 to 20.5% (from where those prices are now), there will be regions with much higher retail increases than estimated.

Just two months ago, USDA had egg inflation at 2.5%-3.5% range, year over year.  Again, that’s the scale of change; from a 3.5% forward outlook to a 20.5% forward outlook effective right now.

Food at home (grocery store) prices: up 7% to 8% in this monthly review, versus the April outlook of a rise of 5% to 6%. That means the USDA is predicting the highest grocery store price rise since 1980 when prices rose 8.1% (prices rose 7.2% in 1981).  There is no reason to think the USDA forecast will not rise again in June.

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The Bureau of Economic Analysis (BEA) originally calculated the first quarter economy at a scale of -1.4% growth. The BEA revises that figure downward today with more data showing a contracted level of consumer spending [DATA HERE].  The economy contracted by -1.5% in the revised numbers.

Gross Domestic Product (GDP) is the dollar value of all goods and services produced in the economy, minus the dollar value of goods and services we import. The percentages discussed are percentages of change over time.

♦ What changed in this revision to make the economy worse?

(1) U.S. inflation was revised upward (prices increased); (2) the estimate of calculated inventories was lowered; (3) the estimate of consumer spending was raised (inflation issue); which leads to (4) a massive drop in the calculation of disposable incomes.  [See the Change Table]

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It is important to remember the ultimate goal of the ‘climate change’ promotors (World Economic Forum) is not an energy system that changes the global climate. The goal of the ‘climate change’ group is to create a carbon trading system; a new financial mechanism (a global tax program) to control human activity on a world-wide basis.  This system also needs a digital identity in order to work {hint-hint}.

You cannot tax or trade things you cannot track.  As a result, there was always going to be a need for an individual tracking and monitoring system that would connect to the global digital identity and determine the carbon footprint.  The carbon taxing and trading system will be more financially lucrative than any stock exchange or monetary banking system.  It is the ultimate human control mechanism, and the preferred way to redistribute wealth under the guise of global equity.

Of course, the system will beta test as a consumer demand product until the government steps in to take over the allocation and distribution equity part.  In this video segment, Alibaba Group president J. Michael Evans boasts at the 2022 World Economic Forum about the development of an “individual carbon footprint tracker” to monitor what you buy, what you eat, and where/how you travel.  WATCH:

The individual carbon tracker is the baseline for a global carbon trading system that involves everyone; at least, everyone connected to the outlook of western government.

Carbon allocation creates the financial metric that replaces currency.  You buy and sell carbon credits allowing you to engage in specific functions within society, like dining, traveling, home ownership and type, vehicle or transportation type, even the clothes you can purchase. Hence, “carbon trading” is the term most people are familiar with.

In essence, you are a parasite to earth; therefore, you must offset your derogatory footprint on the planet by paying a fee to exist.  If you cannot pay for the carbon credits needed to engage in the transaction (travel, home ownership, cooling, heating, etc.) you cannot engage in the regulated activity.

The carbon exchange process is at the end of the slippery slope created by a digital identity.  The 5G telecommunications network is designed to use geolocation and behavioral tracking that will connect your digital identity to your individual behavior and facilitate the carbon footprint tracing process.   We are already passed the “if” stage.

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The preparations and proactive moves to establish the global cleaving are being carried out by Wall Street globalists, the World Economic Forum and the various western politicians who align with the objective.  The opinion of the citizens within each nation are irrelevant to the decisions of the leaders.

Fundamentally, the big picture dynamic is to create a global network of allied nations based on one overarching principle, energy and human control through the carbon trading platform.  There are multiple moving puzzle pieces, but one big dynamic. Western government leaders are cleaving the world into two economic systems.

One economic system will be based on traditional energy as the underpinning of the economy.  One system will be based on renewable energy, with climate change agenda as the overarching basis for all of their economic shifts.  Pressure from within traditional alliances like the G7, G20, NATO etc, will create the wedge.  Terms like Build Back Better, Green New Deal, Paris Treaty Accords, and other reference points are part of this cleaving agenda.

Each nation will eventually have to make a decision about which team they will join.  The entry of Finland and Sweden into the NATO alliance is only one part of this dynamic.

WASHINGTON – Senate Majority Leader Charles Schumer (D-N.Y.) and Minority Leader Mitch McConnell (R-Ky.) plan to present a resolution that will press the Biden administration to rush the paperwork for Finland and Sweden to join NATO.

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During a joint press conference held in Tokyo, Japan, held by Joe Biden and Prime Minister Fumio Kishida, Biden was asked about the financial pain Americans are feeling with massive increases in gasoline prices.

Outlining how his energy policy is directly related to the gasoline price, Joe Biden said: “Here’s the situation. And when it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over.” Yet again proving the intent of the administration is to implement the ‘Green New Deal’ through executive action.  WATCH:

https://youtu.be/s3mtbvZdpEA

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This admission is akin to former President Obama saying, “energy prices would necessarily skyrocket” in order to achieve the goals of the administration.

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We often talk about the disconnect between Wall Street (globalists) and Main Street (nationalists), and their influence in economic policy.  Today, Jason Furman, a former Chair of the White House Council of Economic Advisors, appears on CBS News to discuss his Harvard-Kennedy School impression of the U.S. economy.

There’s a particular point in the interview [Transcript Here] that encapsulates the moonbat perspective of the globalists.  Listen at 01:20 and you will hear this:

FURMAN:  “Look, we’ve seen a remarkable thing. Consumers, if you survey them, are very pessimistic and negative about the economy. When they vote with their wallets, we saw- we got the consumer spending data for April and it was way up. Consumer spending on just about everything has been booming. Over the next 6 to 12 months, I’m not super worried about a recession. After that is where I start to get worried because that’s where the Fed’s policy will start having more of an effect.”

Put another way: Our policies have made prices skyrocket (inflation). Consumers are forced to spend more money to sustain themselves (food, housing, fuel, energy); ergo consumer spending is booming. Brilliant, our plan to increase consumer spending by raising their prices is working.  That’s the way these people think. WATCH:

We force you to pay more, then turn around and claim economic victory because you are paying more…. “consumer spending is booming.”

By the way, he’s at the World Economic Forum where this perspective is actually cheered inside the echo-chamber.

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