We noted last month the inflation issues were not going to get better and indeed they are getting worse.  The Bureau of Labor Statistics (BLS) has released the latest inflation data, and the rate of inflation continues to increase at an alarming rate; now at 5% year over year for all items.

With only six months of JoeBama economic policy hitting so far, the rate of inflation is now four times larger under Biden than it was under Trump policies.

Everything the Biden administration is doing is making things worse, and now we are seeing big drops in real wages as the inflation rate is far beyond wage growth.   Under Biden inflation is massive and wage growth is non-existent.  This is an exact reversal of the Trump-era outcome where inflation was low and wage growth rates were high.

Year-over-year price comparisons for regular unleaded gasoline are now +58.2%.  [Table 7] Stunning increases in fuel. Natural gas is up 13.5%.  The prices of durable goods like furniture are up 9.8% while the prices for washers/dryers have jumped up over 26%.  Used car prices are up 29.7%, while every durable good is showing massive increases (appliances, clothes, furniture, jewelry, etc).  Even televisions are up almost 5%, after years of continually lower prices.

The May increase in energy prices “was the largest 12-month increase since the period ending April 1980”, over forty years ago. Yes, with 28% increases in overall energy prices Biden is mirroring Jimmy Carter in the outcome of his economic policy (this is not accidental).

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Now that we know the Obama administration was directly involved in the creation of SARS-CoV-2 as a biological weapon that was released from the Wuhan Institute of Virology in China (an accidental or purposeful release still undetermined) {Go Deep}, we have the background to understand why the JoeBama administration has to defend Anthony Fauci.

All of the originating activity surrounding U.S. collaboration with the Wuhan Institute, the funding of the Wuhan Institute and the approvals for the Wuhan Institute to conduct “gain of function” research (weaponizing the virus) took place during the Obama administration.  Including the events on January 9, 2017, eleven days before leaving office, when President Obama’s administration lifted the funding moratorium to weaponize SARS bat viruses.

Sharri Markson has a book that details how the Wuhan Lab was used to create SARS-CoV-2 and how Anthony Fauci was the key decisionmaker in the U.S. who organized funding for the Chinese experiments.  In this commentary she discusses some of the issues.

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The bigger question of why the U.S. would fund, support and facilitate the creation of a biological weapon by the Chinese is where things really get interesting.  The only reason the Pentagon (U.S. Military) would enjoin that relationship with China would be to benefit their own interests.

What interests would the U.S. military and U.S. Intelligence hold in the creation of a biological weapon in China?

What is that they say about “means”, “motive”, and “opportunity”?

The most likely answer is the one that makes people very uncomfortable.

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You’ve likely seen mentions of inflation popping up amid some MSM discussions. Without a doubt you have seen significant price jumps at your local supermarket.

The reason is simple, JoeBama’s economic policies are beneficial to the multinationals, crushing to the domestic U.S. economy and driving massive increases in prices in a variety of sectors.  As a consequence the leftist financial media (almost all financial media) are churning out deflection points, but if you understand the background you can predictably see the cause and effect.

USA Today –  From tortillas to cornbread, some of your favorite corn-based dishes may go up in price late this summer.  Corn has been leading the rally among grain commodities, rising more than 30% in 2021, according to MarketWatch. (more)

NOTE: Wheat, corn and soybeans are the foundation of the U.S. food supply. They are primarily used as ingredients in processed foods, oils, and are fed to the cattle, hogs, and poultry that supply meat and eggs for the American diet.  When those grain harvests go up in price the downstream increase in price is far reaching.

Remember, there is no such thing as a “commodity” market in the free market sense of the word.  Those commodity markets are now “controlled markets“, and fully under the control of massive multinational agricultural corporations.

[…]  “Americans should definitely expect an eventual rise in prices later in the year,” says Moya. “The surge with grain prices should not immediately be visible at supermarkets, since retailers absorb the initial increase. (But) eventually, the margin pressure will be too big and probably at some point late in the summer, Americans will start to take notice to some increases on grocery shelves.” (more)

Many Americans are recently awake to the singular ideology that surrounds DC politics.  The UniParty political fraud also applies to our political economy. However, just like the election, understanding the deception in modern economics means understanding previous false and promoted assumptions.

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The federal reserve has announced they will support the economic agenda of the Biden administration by allowing rapid inflation.  The FED is trying to provide cover for JoeBama’s economic plan.  The era when the FED could impact inflation is long past.  However, the Joe Biden policy impact will be clear, immediate and concise.  The U.S. middle-class and blue-collar worker are about to be crushed under rising prices for consumable products.

Increases in inflation hit the working class (Main St) much harder than the investment class (Wall St) and financial elites.  Factually the multinationals benefit from U.S. inflation as it puts pressure on domestic companies to ship their manufacturing overseas.  Wall Street likes that.  This dynamic has been an issue not-discussed by the financial media for decades.   First, the Reuters article (when you see “commodity prices” think about the term “consumables”):

REUTERS – The U.S. Federal Reserve has signaled it will tolerate faster inflation for a time to cement the post-pandemic recovery and boost employment, but the side effect is likely to be a faster rise in commodity prices.

[…]  After its latest meeting on Wednesday, the Federal Open Market Committee confirmed it will seek to achieve the *twin objectives of maximum employment and inflation at the rate of 2% over the longer run.

[*NOTE: in the new era of global economics these two are mutually exclusive.  The FED is intentionally ignoring this point.]

[…] The committee noted price rises have been running persistently below target, so it aims to achieve inflation moderately above 2% for some time to make up the shortfall and anchor expectations at around the 2% level.

[…]  The plan is to run the economy hot to achieve faster job gains, especially among disadvantaged groups that are marginally attached to the labour force, before shifting back to inflation control later in the cycle.

But the resulting pressure on global supply chains while the Fed pursues employment increases is likely to generate significantly quicker price rises for raw materials and a range of manufactured items. (read more)

This perspective is fundamentally false and based on assumptions that are decades old economic arguments.  The reality of what will happen is exactly the opposite on the employment front.

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President Donald Trump speaks to Newsmax TV’s Greg Kelly about President Biden’s tumbles up the steps of Air Force One, reacts to talk of invoking the 25th Amendment, plus gives his thoughts on the border crisis, Fox News analyst Karl Rove, his own endorsement of Georgia’s Jody Hice, and more

Part 2 Below

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To say the first major diplomatic summit between the United States and China was an unmitigated mess would be an understatement.  Apparently U.S. Secretary of State Tony Blinken thought it would be of value for the domestic audience if he was to lambast the Beijing delegation in public and on camera.  His efforts were a complete fail as the Chinese knew everything was presented for domestic consumption… so, the Red Dragon threw fire right back onto the purple hair and obviously stunned an unsettled U.S. Secretary.

The train wreck was started by challenging China publicly, in front of the international press, likely believing such an aggressive posture would weaken Republican criticism about the Job Biden administration being soft/weak on China. However, using a joint press conference as the forum only provided insult to the Beijing delegation.

Public insults are expressions of weakness, not strength.

It was visibly obvious that Secretary Blinken stupidly did not anticipate the Chinese officials would retaliate in their remarks responding to him.

The Chinese diplomatic team is exceptionally skilled at verbal combat; they use facts and evident weakness to their advantage. Blinken’s foolish decision gave the Chinese officials a rare opportunity to dress down the Secretary of State very publicly in front of the international media.

Secretary Blinken was visibly shocked and destabilized by the strength of the returning words from the Chinese team. His response was extremely defensive; ‘he doth protest too much’, and he was incoherent. Blinken also repeated JoeBama’s ridiculous catch-phrase “America is back.”

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Katherine Tai was confirmed by a unanimous senate vote today to become the United States Trade Representative.  The vote was 98-0.  Ambassador Tai has family connections in both Taiwan and China and replaces former USTR Robert Lighthizer.

The doctrine of President Trump was to use trade and economics to achieve diplomatic results on foreign policy and national security issues. It will be interesting to watch what happens now as the Biden Administration returns to using ideological diplomacy as the baseline… then providing economic benefits to support leftist objectives.

The rustbelt was created, and China rose to economic influence, on the political outlook once again in power in the United States.  Ideology comes first, all other things changed, modified and or considered downstream in lesser importance than the ideology.  This was how the alignment of Wall Street, Globalists and Beijing exploited Bush, Clinton-Clinton, Bush-Bush and Obama-Obama terms.  The U.S. middle-class economy suffered greatly, while Wall Street multinationals thrived.

On the positive side there will be pressure from the Bernie Sanders wing to defend American jobs.  However, that faction’s political leadership, like Bernie Sanders himself and AOC, will compromise the long-term interests of the American worker when the opportunity surfaces for personal and familial wealth.  The Sanders types, just like the union leadership, can all be bought for the right price.

Ambassador Tai has not yet made statements about whether she will advocate for steel and aluminum tariff removal, but she is a big supporter of environmental justice as it pertains to trade and economic justice.  The climate and trade issue here specifically is the potential for carbon taxes to be part of JoeBama trade policy.  How?  Well, that might look like the U.S. re-entering the Trans Pacific Partnership with a carbon trading system in place.

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President Trump called-in after his CPAC speech for an interview with Fox News’ Steve Hilton.  The interview covered a variety of subjects and touched on current events that are critical for our nation.  However, Steve Hilton praising RNC Chairwoman Ronna McDaniel is a little disconcerting (take note of that).  Hilton might possibly have been activated by his handlers to protect the RNC after the CPAC speech. We’ll keep an eye out.  WATCH:

Note the DATE:

Here's a very serious suggestion for President @realDonaldTrump and @parscale. We know what's coming…

…Hire Catherine Englebrecht from @TrueTheVote to be RNC Chairwoman now, before it's too late. pic.twitter.com/Wm1iMwNyMO

— TheLastRefuge (@TheLastRefuge2) May 13, 2020

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Former White House Chairman of the National Economic Council, Larry Kudlow, will begin a new venture joining Fox Business News on February 8th.

Kudlow joined the wolverine Trump economic team in 2018 and was complimentary to the objectives of the Trump administration with his affable demeanor.  Secretary Ross, Ambassador Lighthizer, Secretary Mnuchin and Peter Navarro were the teeth, while Larry Kudlow was the one who smoothed the edges.  The entire team complimented each-other brilliantly.

Fox News Media announced on Tuesday that Larry Kudlow, former President Donald Trump’s top economic adviser, would host a new weekday program on the Fox Business Network.

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U.S. Senator Tom Cotton (R-AR) presents himself as a patriot; however, he his also a tenuously positioned politician who attended the 2016 Sea Island summit to stop Trump. As an outcome, all Cotton positions, regardless of current issue-specific merit, should be reviewed carefully for self-serving benefit.

In this interview Senator Cotton discusses how China has recently targeted specific individuals within the former Trump administration for sanctions.  Cotton walks through a few examples of how the financial and economic targeting has real life consequences.

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