What they envision (left) and where they are (right).
Right on track…
It is difficult to imagine how the Biden administration can possibly spin the economic reality of increasing, unavoidable inflation making the economy weaker over the next year. However, somehow, they will try.
The AP is reporting that 68% of Americans now say the economy overall is their number one concern. Meanwhile, the federal reserve of New York is reporting the inflation results from December are likely to be the same, if not higher, than the inflation results in November.
The Biden administration has continued to push additional federal spending under the auspices of Build Back Better as the bridge to offset the impact from their Green New Deal energy policies. In fact, if you look at how the massive spending effort has been shaped, it becomes clear the overall goal is to push a new energy policy and then hide the impact by using COVID as the cover for the subsidies to try and offset the impacts.
It is a sneaky program when reviewed in totality. Shut down oil and natural gas production, cancel leases, block pipelines and use the regulatory arm to shut down any additional growth in the oil and gas industry, including refinery capacity. Then, try to hide the consequences by subsidizing the core constituencies who would normally be immediately impacted.
Unfortunately for the Biden architects, no amount of legislative spending is going to be able to offset the massive economic impact of implementing the Green New Deal by executive order, regulatory changes and administrative policy. The American people are not blind to consequences, and when they start to look deeper into the causes of this inflation, what they discover is easy to see.
I do not know how better to emphasize the points other than to be direct and brutally honest. Sometimes you just have to call the baby ugly. The window to prepare for the incoming crisis of our lifetime is now down to two weeks. Hopefully, that is specific enough.
As we have discussed on these pages, the interventionist policies and regulations from the people creating the COVID response (writ large) have been fubar from the beginning. {Go Deep} When they shut down the restaurants and hospitality sector (2020 lockdowns), the advisors and bureaucrats triggered a cascading series of events inside the food supply chain {Go Deep}.
Every policy implementation since then has made matters worse {Go Deep}
Adding to the supply chain and inflation crisis, in about a week the vaccine mandate and subsequent commercial passport means 30,000 cross border truckers are about to get shut down from operating between the United States and Canada.
“70% of the 700 billion in trade between Canada and the US is moved by truck. This will have a dramatic effect on supplies and services reaching their destination and getting in the hands of those who need them. One needs to look no further than the recent UK fuel shortage, where the military had to be brought in to deliver fuel as a result of a lack of truck drivers. We are already seeing shortages, if these shortages reach critical levels on items such as fuel, food, blood, medicine or medical supplies, we will see real long-lasting damage.”
~ Mike Milliam, President of the Private Motor Truck Council of Canada
The apoplectic response to Joe Manchin’s rebuke of Biden’s Build Back Better deal in general, and specifically, their reaction to losing the climate change agenda within it, points toward the original intent of COVID-19 in the first place.
In this tweet, communist stenographer and narrative engineer Sam Stein (Politico/MSNBC) says the quiet part out loud:
Point One – The “Build Back Better” agenda was never about anything except radical climate change legislation. Once you accept that, now admitted, baseline, things start to become much clearer.
Point Two – The “Build Back Better” phrase came from the World Economic Forum and was promoted by a multitude of international leaders and left-wing organizations. That reality then brings up the most important point. To get to “building back better”, you first need to destroy something. That thing they needed to destroy was how the global economic dependency on carbon-based fuel supplies (oil, gas, coal, etc.).
Point Three – In order to destroy the ‘something of that scale’, the energy program for the entire world, something massive is needed to fundamentally change the entire world approach toward energy production. Something is needed to create the crisis that provides the origin for the process to initiate.
Point Four – That triggering mechanism was/is SARS-CoV-2, or what we now call COVID-19 and all variants therein.
There you have it. That’s the summary soup to nuts explanation of why a virus was created, and the subsequent panic pushing to create social structures that would facilitate the global acceptance of an entire new economic system that would be designed around saving the planet.
Folks, this story is not from The Onion or any version of sarcastic media. This is very real.
To meet the compliance standards of the Paris Climate Accords and the subsequent treaty that all EU nations agreed to, they must reduce carbon emissions in freight and transit systems. They have spent thousands of hours pouring over possible solutions and will begin the test phase next month.
Bloomberg News – At the start of next year, the Ville de Bordeaux, a 154-meter-long ship that moves aircraft components for Airbus SE, will unfurl a 500 square meter kite on journeys across the Atlantic Ocean. It will undergo six months of trials and tests before full deployment.
While the industry has come up with multiple decarbonization initiatives, it is struggling to keep pace with goals set out under the Paris Agreement on climate. There’s also pressure on shipping lines from large customers who are pressing to make their own supply chains less polluting. (read more)
Yes my friends, the extremely well educated scientists, physicists, climatologists, sustainability engineers and cross functional decarbonization problem solvers for the planetary saving climate justice agenda, have invented…. wait for it….
If you were still on the fence about Omicron being created/used specifically because the people behind Biden were worried about gas prices {Go Deep}, you can quit the straddle.
Energy inflation overall, and gasoline inflation specifically, is the Build Back Better communists’ Achilles heel. The Biden administration is ideologically committed to climate change policy and as a result they have no supply-side tools to stop gasoline prices from necessarily skyrocketing. They desperately need the fear of Omicron to shut down the demand side.
Ten days ago the communists said they were releasing 55 million barrels of oil from the strategic petroleum reserve {Go Deep}, approximately a three day supply of oil given the current level of demand. Today the Democrat Congressional Campaign Committee (DCCC) laughably claim victory over a two cent drop in gasoline price. Worse still is the gaslighting graph they use to show a downward trajectory on price:
The Y-axis is in increments of half a cent. The X-axis is showing six days of impact.
Yes, gasoline fell from $3.39/gal to $3.38/gal in the six days after the strategic petroleum reserve release. We are spared a single penny per gallon in gas price.
Even the leftist media recognize this type of propaganda only makes Democrats look more stupid. A longer review of the Joe Biden price for Gasoline puts that six day Democrat graph into perspective:
There has been a lot of chatter behind a Washington Post report about the White House planning to introduce new COVID travel and quarantine restrictions tomorrow (Thursday). However, tuning out the noise – remember which agency of the Fourth Branch uses the Washington Post and things make sense.
The problem for the White House is the public reaction to the new COVID variant Omicron did not meet their expectations.
The White House needs more concern, more fear, more panic to enhance their larger objective {Go Deep}. The Biden team really need Omicron fear to permeate the American psyche, in order to achieve the Build Back Better agenda. They desperately need it.
If people just shake it off and go about living their lives, the White House will be facing an electorate angry about inflation; that’s a problem.
The Washington Post report is framed around new international travel restrictions, increased COVID testing, and quarantine mandates as an outcome of the Omicron variant arrival. However, given the nature of the 48 hour advanced notice provided to The WaPo, it’s likely the announcement tomorrow will contain the change that all vaccine advocates have been demanding, mandatory vaccination prior to any domestic airline travel. Forcing domestic airline travelers to prove their vaccinated status has been a goal of the vaccine media for several months.
The worker vaccine mandate was unconstitutional federal overreach; the Biden administration knew that in advance and did it anyway because the vaccine isn’t really the end goal, it’s just a tool. An airline traveler vaccine mandate would be similar federal overreach, and also likely to lose in court; however, that is not going to stop them from announcing one for the same reason they announced the worker vaccine mandate.
JP Morgan is emphasizing that U.S. energy policy is likely to end up with $150-$200 per barrel oil costs in next year ($10/gal gasoline). [LINK] Whether that dire prediction comes true is anyone’s guess. However, consensus review makes nearing $100/barrel costs by the end of this year just as unnerving. ($6/gal gasoline). That outcome is the centerpiece for why Biden needs the Omicron variant to impact the demand side urgently.
New York – […] “We believe the evolution of coal prices might reflect supply, demand, cost of capital and energy transitioning issues for all fossil fuels, and it would certainly be possible that oil prices will follow the same pattern (inflation adjusted for oil, that would be in a $150-200/bbl range),” wrote a team of JPMorgan Chase & Co. strategists led by Marko Kolanovic. (read more)
This analysis essentially aligns with CTH outlooks and complements what Allianz Group chief economic advisor, Mohamed El-Erian, was saying yesterday [LINK] The Biden energy policy is specifically to blame for the current price increases across the entire energy sector.
All of Biden energy policy, and all of Biden spending around the Build Back Better agenda, is designed to take us from where we are now into some distant place where fossil fuels are not the energy mechanism; that’s the Green New Deal component of this. However, there is no policy for their transition – they stopped all current energy policy around oil and coal.
Allianz Group chief economic advisor, Mohamed El-Erian, is one of the few financial pundits who understood President Trump’s purposeful economic agenda inside the America First policy {Go Deep and Go Deep}. However, El-Erian also has to maintain his Wall Street credibility and, like most financial pundits, has to pretend not to know things when the emperor’s new clothes -Biden economics- are being discussed.
El-Erian uses the lingo of the club as he walks carefully in the shadow of his Wall Street allies, and he has to avoid the 800lb gorilla in the room and ignore there are other newly surfacing mechanisms available to the government in their approach to inflation. In this interview El-Erian does emphasize that inflation is not transitory, it is only going to get worse as long as the Federal Reserve keeps printing money to keep up with the massive and ongoing Democrat spending programs.
When El-Erian says the Fed needs to take their foot off the accelerator, he’s talking about how the Fed policy right now is purchasing debt (Quantative Easing) and printing money to keep up with legislative spending programs. He knows the Biden administration will not stop this approach, they are committed to the Build Back Better program, and as a consequence El-Erian knows inflation will continue in direct proportion to that ‘demand side‘ activity. But he cannot call it out directly – he can only say inflation will continue.
All of the Wall Street pundits know the Fed cannot hit the brakes (raise interest rates and stop purchasing debt) or else this entire manipulated economy (even on a global scale) will collapse; as El-Erian says “plunge into a recession.” It is a tenuous house of cards the current Wall Street crew is betting to remain in place due to the ideological politics (Green New Deal, Build Back Better, etc ).
According to sources familiar with the matter, who wish to remain anonymous as they are not authorized to relay information from two other anonymous officials with knowledge of a person once seen next door to an official who directly overheard a conversation relayed by several officials at the heart of the issue, there might be a coded message here.
Joe Biden and Kamala Harris are banning African travelers on Black Friday 2021:
A congressional investigation surrounding this blatant air travel discrimination is warranted. How is it fair a person of color who walks across the U.S. border can be protected by COVID immigration policy, yet an African person of color flying into the country is given no due process? Racism, gottabe. Impeach!