The people who control Joe Biden held a background call today announcing details of the upcoming trip by Joe Biden to the middle-east.   The trip will start in Israel where Biden will meet Israeli leaders and Palestinian Authority leader Abbas.

White House – […] In meetings with Israeli leaders, the President will reaffirm the ironclad U.S. commitment to Israel’s security and new areas of deepening cooperation in technology, climate, commerce, trade, and other sectors.

[…] The President will also visit the West Bank to meet with President Mahmoud Abbas and other Palestinian leaders.  The President, of course, has known Abbas for decades, and he looks forward to reaffirming his lifelong commitment to a two-state solution and to discuss the ways in which we might rekindle a new political horizon that can ensure equal measures of freedom, security, prosperity, and dignity to Israelis and Palestinians alike. 

[…] Following the visits to Israel and the West Bank, the President will fly directly from Israel to Jeddah, Saudi Arabia, where he will participate in a summit of the Gulf Cooperation — GCC+3 — the GCC+3 — so the leaders of Saudi Arabia, Kuwait, Oman, UAE, Bahrain, and Qatar, plus Iraq, Jordan, and Egypt. The President will also hold bilateral meetings with the Saudi hosts and other counterparts. 

(more…)

Earlier today, angry Joe was channeling his inner thug as he harkened back to the good old days when labor unions were cracking skulls on behalf of the communists and socialists.  Giving the pretense of connection to the working class is a performance technique Biden has used throughout his career, but it holds absolutely no basis in reality.

Appearing at the AFL-CIO convention today, Biden began yelling at the brotherhood.  In his mind anger, violence and conflict is what he believes organized labor is all about, so his performance is designed to convey that connection.  It’s more than a little weird, it’s creepy. WATCH:

.

(more…)

The “Producer Price Index” (PPI) is essentially the tracking of wholesale prices at three stages: Origination (commodity), Intermediate (processing), and then Final (to wholesale). Today, the Bureau of Labor and Statistics (BLS) released the May 2022 price data [Available Here] showing another 10.8% increase year-over-year in Final Demand products at the wholesale level.

The inflation within the total goods supply chain continues to accumulate at a more significant rate than the finished goods on the store shelves.  This means replacement goods will continue arriving with higher prices than current.   Final demand goods in May were 1.4% higher than April (16.8% annualized).  And the May year-over-year prices show a 10.8% increase [See Table A].  However, there’s more trouble ahead:

More troubling than the final demand price increases (wholesale finished goods), are the price increases in the intermediate goods and unprocessed raw materials.

Intermediate processed goods increased 2.3% in May (27.6% annualized).  The intermediate unprocessed goods, raw materials, jumped even higher in price at 6.3% for May (that’s a whopping 75.6% annualized increase).   It would appear the raw materials coming into the goods sector are coming in with even higher built-in energy costs than most people anticipated.

Once those intermediate products reach the final demand stage (wholesale), the cumulative price increase will mean even higher consumer prices.

(more…)

Tucker Carlson used his opening monologue tonight to point out the serious problems with federal “red flag laws” as proposed.  WATCH:

(more…)

There is one big problem for the people inside the Biden administration executing the Green New Deal energy policy, the massive increases in energy cost including gasoline.

You see, everything is an academic estimate until the actual Green New Deal is transferred from theoretical policy into a set of actions that creates a major disruption in the economy.  As things in society start to collapse; and as people begin to really feel the inflationary consequences of the Biden energy policy in action; suddenly all of those ‘talking points’ about shutting down the fossil fuel industry take on a new meaning.   People didn’t realize the Green New Deal was going to mean $10/doz eggs, $15/gal milk, $20 happy meals at McDonalds, or $150/tank of gasoline…. Now they are paying attention.

For former EPA Administrator Gina McCarthy, the current senior climate and energy policy advisor within the White House, all of these ‘in your face‘ surfacing Green New Deal consequences have become problematic for the Biden administration.  Her proposed solution, however, is rather remarkable.

In this interview discussing the skyrocketing inflation and consequences created by the Green New Deal policies, Gina McCarthy urgently begs all of the social media companies to start removing the content from American people who are giving real world examples of the pain and economic hardship they are feeling.  McCarthy says that if social media do not start to help Joe Biden hide the pain, the climate change agenda might be at risk.  WATCH [11:00 prompted]:

.

(more…)

The S&P 500 fell 151.23 points, or 3.9%, to 3749.63. The Dow Jones Industrial Average dropped 876.05 points, or 2.8%, to 30516.74. The tech-heavy Nasdaq Composite declined 530.80 points, or 4.7%, to 10809.23 (33% lower that the November record).

CNBC – […] U.S. stocks on Monday entered a bear market because the S&P 500 closed more than 21% below its all-time record close reached as recently as last January, S&P Global Dow Jones Indices senior index analyst Howard Silverblatt wrote.

Stocks had been flirting with a bear market for the past several weeks on an intraday basis, but had never actually closed below 3837, the level S&P Global needed to see in order to officially declare one.

S&P Global says a 20% decline in the S&P 500 on a closing basis from its previous peak is all it takes to define a bear market. Which means that this bear market is already more than five months old, since the S&P 500 all-time high came on January 3. (read more)

(more…)

They might even hold hearings on it….

The constant and strategic pressure by Russian military in eastern Ukraine is slowly and methodically taking more ground each day.  Russian troops have now encircled and captured the city of Severodonetsk, which will join Lysychansk under full Russian control within days, according to the Washington Post.

Ukraine forces are running out of supplies as the U.S. State Dept. tries to organize the battle formations on behalf of U.S. interests in the country.  The Russian advances are slow, methodical and very deliberate.  The Ukraine military is losing ground and Zelenskyy is calling for more western help urgently.

LVIV, Ukraine—The leaders of France, Germany and Italy plan to meet with Ukrainian President Volodymyr Zelensky in Kyiv this week, officials said, as reports showed Russia making gains in the country’s east and Ukrainian officials urgently sought arms from Western nations to hold Russian forces at bay.

French President Emmanuel Macron, German Chancellor Olaf Scholz and Italian Prime Minister Mario Draghi were planning to visit the Ukrainian capital on Thursday, said two European officials, who cautioned that plans could yet change. The trip would be the first to Ukraine since the beginning of the war for the three Western leaders.

(more…)

Mohamed El-Erian is generally more correct than most, but the insufferable coded language he is required to use makes it difficult for the ordinary person to see exactly what he is saying.   For this CBS segment, we will apply the decipher. [Transcript Here]

Notice this key phrase in the beginning of his discussion of inflation. “Of course, we know about the Ukraine war, we know about the energy transition, also the Federal Reserve mischaracterize inflation and fell behind.”  No, Mohamed, most Americans do not know about the forced energy transition and how that has created this unavoidable inflation spiral.  How about dropping the code and saying it directly?  Joe Biden initiating the Green New Deal means much higher prices are permanent.

El-Erian speaks about supply side inflation, but doesn’t want to talk about the next phase, demand and service side inflation.  The three month inflation data is higher than the year-over-year inflation data. That means inflation is growing.  There is no way for inflation to drop when the most recent price increases are significantly higher than the previous price increases.  Inflation is now detached from any intervention. WATCH:

Consumer demand for non critical goods are contracting at the same time prices continue rising (that’s stagflation).  Demand side contraction, what El Erian calls “demand destruction,” means lost jobs (that’s recession).  Food, fuel and energy prices all continue rising.  The field costs are higher than current fork costs, and that (30%+) wave of inflation coming in from over the horizon is going to blow the doors off any economic growth.  The process is unavoidable now.

The credit markets will feel the impact before the end of the year as consumers will no longer be able to make payments for loans, and still eat.  Mortgage defaults will increase, vehicle repossessions will increase, credit card debt and bankruptcies will increase. The credit markets will get drowned in a tsunami of default.  That’s the direct language El Erian will not use, but it is present inside the coded-language he does use.

If you did not purchase a house this year, you are ahead financially.  Equity and values are plummeting.

(more…)

In his monologue this week Neil Oliver hits the target so perfectly he deserves extra appreciation.  You see, like many – including us, Oliver refuses to just let the two years of COVID madness disappear in the ether as if it didn’t exist, simply because the elites now find the questioning a little too uncomfy.

For two years they shoved their intolerant fingers in our faces, destroyed lives and livelihoods, made ridiculous demands in order to sustain their own fear, threatened our children, destroyed the economy, used COVID as an excuse to destroy families and steal an election, attempted to force us to kneel at the altar of their mask wearing and never-ending vaccine crap… and we’re just supposed to what, forgive them?  Fat chance…. WE NEED a reckoning.  WATCH:

[Transcript] – “The question is this: are we stupid? Or are we just being treated as if we’re stupid? How long will they keep trying to tell us 2+2=5, when so many of us can see that the answer is 4.

Spanish newspaper El Mundo, and other news agencies, reported last week that Jose Maria Fernandez Sousa-Faro, president of European pharmaceuticals giant Pharma Mar was among 2,200 Spanish elites and celebs, investigated by police for allegedly paying thousands of Euros to be injected with a saline solution – salt water – instead of any of the Covid vaccines and so had their names added, falsely, to the National Immunization registry.

(more…)