The New Year brings a look of forward-looking economic perspectives from major financial institutions.  Unfortunately, if the perspective of Bank of America Chief Economist Michael Gapen is reflective of the larger institutional analysis, the financial pretending is anticipated to continue.

[Side Note: Notice how they will all start talking about ‘deglobalization’ in 2023. There’s a reason for that that I will touch on in the IMF interview to follow]

Appearing on Face the Nation Gapen accurately indicates the U.S. housing market is already in a steep economic recession, housing prices falling rapidly with a considerable amount of distance to go (-30% range), and the overall housing market will likely be in this situation for around two years.  On a macro level the Bank of America indicators line up with the general housing trajectory.  From a lending standpoint, Gapen would have specific insight.

Beyond the housing sector, Mr. Gapen starts to get sketchy.  He anticipates inflation taking 24 to 36 months to lower to the norm 2% range.  That is generally in line with CTH expectations; however, nowhere in the analysis does Gapen even mention energy costs and the overall impact to the economy from energy policy.  You will note this absence will be present in almost all financial punditries.  Mentioning “energy policy’ as a cause of economic pain is a third rail amid his peer group; it is simply not permitted.

Astute readers will note the great financial and economic pretending that surrounds the Build Back Better and Green New Deal climate change agenda will not be discussed by anyone, ever. The massive price impacts, the supply side inflation pressures, are baked into the western global economic outlooks.  It is strictly verboten to talk about climate change policy being stopped, modified, reversed or even, well, gasp, removed.  WATCH:

[TRANSCRIPT] – […] BANK OF AMERICA CHIEF ECONOMIST MICHAEL GAPEN: Happy New Year as well. Thank you for having me on.

MARGARET BRENNAN: You know, a majority of voters polled by The Wall Street Journal say that the economy is going to look and feel worse in 2023. What is your forecast?

GAPEN: So I think that’s probably true. I think we’re in a situation where the risk of recession is high, may not be a deep and prolonged one. But we’re in a situation where the economy has recovered very rapidly from- from COVID, and it’s come with a lot of inflation. And the Federal Reserve is trying to slow down the economy, to bring inflation down. And in the past, more often than not, that’s coincided with some sort of recession in the US economy and the U.S. labor market. It’s not baked in. It’s not for certain. We may be able to avoid it, but I would agree that the outlook by most people who sit in the position that I do think 2023 could be a difficult year for the U.S..

MARGARET BRENNAN: So we may be able to avoid recession?

GAPEN: Yes.

MARGARET BRENNAN: Or it could be mild?

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If 2022 was not the apex year for the era of great pretending, then we remain sitting in a handbasket – destination, full speed ahead.

When asked for the topic of a ‘big picture‘ podcast this 2022-year ending, the obvious answer from me was We Need to Quit Pretending.

For the past two years I can only encapsulate the entire social, political and socioeconomic dynamic that surrounds us by saying we are living in an era of great pretending.  Why?  Because nothing else adequately explains it.

A recession is no longer two negative quarters of economic growth.  Elections are no longer defined by votes cast, but by ballots counted.  Meanwhile, women are claimed to have penises and people will argue -strenuously and with commitment- that men can give birth to babies.

Simultaneously, vaccines are no longer about medicines to avoid viruses, and Americans have some moral obligation to fund the administrative salaries, pensions and expense accounts for a nation of European politicians, in a country that few taxpayers could find on a map.

We must pretend the occupant of the oval office is not a dementia patient, at the same time we must pretend the Dept of Homeland Security and FBI is not telling online speech platforms that identifying the dementia patient, as a dementia patient, means you are a domestic violent extremist.  The absurdity of the pretenses are off-the-charts.

However, on the upside, we now see even blissfully ignorant people starting to realize something is wrong when their electricity and heating bills quadruple, while the same system of governmental caretakers are telling us to embrace a new earth friendly normal of $12 dollar eggs.  We been knew, but more are now knowing – thank God.

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Neil Oliver looks at the current media headlines as the New Year approaches, noticing it’s Groundhog Day all over again.  The video is available on the GB News Website Here and the transcript is below:

[Video Here]

[Transcript] –  New Year incoming – and still we are being beaten around the head with the same old stories.

In a few hours, we welcome 2023, but as far as our leaders and their lackeys are concerned it might as well be Groundhog Day.

I look at the headlines on this last day of 2022 and what do I see? Covid, Ukraine and Climate Change. Folk nuttier than anything found in a selection box are talking about bringing back face masks. God help us. Let’s remind everyone for the umpteenth time that Covid is now no more dangerous to most than the common cold. But still, the talk is of the pandemic, same old, same old.

I speak to people every day and hear real stories about real struggles. At first, when asked, “How’re things?” most smile and say they’re fine. Spend a few minutes in conversation though and the stories come.

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The ideology of these elitist minded control officers is really remarkable.  The president of the European Central Bank, Christine Lagarde, has given several statements to media saying policy measures must be put into place in order to stop wage growth from fueling inflation.

Think about this in the most practical of terms.  Western politicians have created massive inflation through their collective ‘Build Back Better’ energy policy.  The central banks have raised interest rates, an effort to shrink the economy by lowering energy demand, to offset the skyrocketing costs of the energy problem the politicians created.

With workers demanding pay raises to help afford the skyrocketing costs of energy, the central EU bank is now worried that wage increases will fuel inflation.

There’s a truckload of pretending needed to avoid seeing the insufferable dynamic of reality.

Political policy drives up energy costs. Central banks try to drive down energy demand.  Workers unable to afford the energy prices created by politicians, are then blamed for the inflation the political policy creates.

Sooner or later ordinary people are going to figure out this abusive cycle.

(Via Reuters) – Euro zone wages are growing quicker than earlier thought and the European Central Bank must prevent this from adding to already high inflation, ECB President Christine Lagarde told a Croatian newspaper.

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Barbara Walters died today, aged 93.  [Story Here]

Ms. Walters is credited with blazing the trail for women in media.   Walters legacy includes many facets, including the modern era launch of the most transparently biased interview technique in opinion journalism.  Barbara Walters never let the details of a good story get in the way of her opinion of it.

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Underreported and essentially invisible within the mainstream news cycles, a critical shortage of ordinary U.S. medicine has been growing and becoming an emergency situation for many families.  If rationing kicks in fully, be careful about what you post on social media.  Determining allowances based on political ideology is a real concern.

In a general sense the issue is mostly an outcome of the U.S. outsourcing drug ingredient procurement and manufacture to China and India.  Many companies in both of those countries have been struggling with operational interruptions as a result of COVID-19.  As supplies in the U.S. rapidly dwindle, local news media outlets are now starting to pick up on the issue.  WATCH:

(Via Fox Business) – The nationwide shortage of basic antibiotics and critical medications that treat chronic conditions and bacterial infections has become the latest issue to hit the medical world. Consequently, it is forcing many doctors to rely on alternative medicines to treat patients.

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As we’ve been saying for seven months, keep watching how the globalists respond to Mexico.  AMLO doesn’t want to join the economic suicide pact known as Build Back Better, or the North American version “Green New Deal.”   This puts him in a precarious place.

This sentence from a recent financial analysis article in Reuters is telling, “concerns about a U.S. recession and a trade spat Mexico is embroiled in with the United States and Canada over Lopez Obrador’s energy policy, which critics call nationalist, muddy the outlook for the peso.”  A “nationalist energy policy”?

What exactly is a “nationalist energy policy,” and why would international financial people be having fits about it?

In the past year the Mexican peso has outperformed the U.S. dollar, in part because Mexico is not following the economic roadmap, a World Economic Forum inspired united inflationary malaise as an outcome of unified energy policy.  [Side Note: The Brazilian currency was also outperforming the western bloc and dollar; but that situation has been rectified now, Bolsonaro removed, and the central bank will start contracting the economy.]

The global financial control mechanisms now start to look at the Mexican non-compliance:

(Reuters) – Mexico’s peso, which is ending 2022 with one of its strongest performances in a decade, could have its gains wiped out in 2023 after an expected end to the Bank of Mexico’s rate hikes cycle and a possible recession in top trade partner the United States.

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Oh, now this is just the proverbial cherry on the fishy cake in Arizona.   The results of a mandatory recount in Pinal County, Arizona, are set to be released today, December 29th, showing “significant discrepancies” from the original vote.  Results favoring the republican candidates [Details Here].

Then there’s this very interesting development….

“The results of the statutorily required recount in 3 races were expected to be released on December 22nd however, inexplicably, Secretary of State Katie Hobbs petitioned the courts to have the results go directly to her office and asked to postpone the release until December 29th.”

Apparently, in her role as Secretary of State Katie Hobbs filed a motion with the court to seal the final recount result until after the lawsuit filed in Maricopa County against her was concluded.  That means the Lake team did not have the results of three recounts to use in court as evidence that something sketchy in Arizona had taken place.

It appears Mrs. Hobbs intentionally did not want the recount information coming out until her lawsuit to become governor was completed.

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In the background of international geopolitics and all things economically attached, the larger climate change agenda, the Build Back Better program, has been unfolding.

Energy driven inflation has destabilized most western economies as the various governments (politicians) and central banks (bureaucrats) work together on behalf of the corporations (World Economic Forum). All of these interests can only advance if they work together. If any individual nation breaks from the group energy agenda, their economy will thrive beyond the limits created by the BBB operation and the association of western nations.

It is with this context at the forefront where we have said to watch Mexico closely. In North America, Mexico has the least to gain from economics behind the climate change agenda. Conversely, if Mexico were to go rogue, they would gain the most. This dynamic puts Mexico in a more powerful position than most realize.

During a July 2022, meeting at the White House, Mexican President Andres Manuel Lopez-Obrador (AMLO) appeared to indicate -for the first time- his understanding of his new position as the ‘Green New Deal’ (climate change) energy agenda was being deployed by the U.S. and Canada. AMLO read from a prepared script in the oval office during a public bilateral meeting with Joe Biden. AMLO’s remarks were quite remarkable in their independence.

“In our country, we shall continue producing oil throughout the energy transition.  With the U.S. investors, we are going to be establishing gas-liquefying plants, fertilizer plants, AMLO said, striking a chord that is not in alignment with Joe Biden and Justin Trudeau.  AMLO continued, “and we’re going to accomplish this with the support of thermal electric plants and also through transmission lines to produce energy in the domestic market, as well as for exports, to neighboring states in the American union, as for instance, Texas, New Mexico, Arizona, and California.” It’s not just what he said, it’s how AMLO said it.

Keep in mind, the month before that July visit to the White House, AMLO boycotted Joe Biden’s Latin-America Summit. AMLO joined the leaders of Bolivia, Guatemala, Honduras and the tiny Caribbean state of St. Vincent in refusing to attend the Biden summit because Cuba, Venezuela and Nicaragua were blocked from attending by the Biden administration.

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Cobalt is a mined mineral needed for all rechargeable batteries including phones, pads, laptops and Electric Vehicles (EV’s). According to Siddharth Kara, an author and expert on modern-day slavery, human trafficking and child labor, approximately 72% of all the cobalt mined globally comes from the Congo.

Within his new book “Cobalt Red: How the Blood of the Congo Powers Our Lives,” Kara outlines how slave labor and child labor work these cobalt mines. Kara appeared on the Joe Rogan podcast {Direct Rumble Link to segment} to discuss his research and findings after visiting these Congolese mines.  Contrasting the “Green Movement” claims that their efforts are to “save the planet” by switching everyone to EV’s, the issues Kara outlines are remarkable.  WATCH:

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