Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
For Thine is the kingdom and the power and the glory, forever and ever. Amen †
Hanover, a city in the northwest of Germany, has become the first major metropolitan area to try and reduce the use of natural gas by removing hot water from public buildings. The move comes as natural gas supplies from Russia are reduced to 20% of capacity. Germany is attempting to fill up storage facilities of natural gas in order to survive the winter.
Germany, together with several European countries, are telling their citizens to expect large increases in their electricity bills as energy costs continue to skyrocket.
Germany does not have any LNG terminals to receive shipments of natural gas into ports, they are dependent on pipelines from Russia. They are urgently trying to reduce the current amount of natural gas being consumed.
(Via Daily Mail) – […] Other desperate gas-saving measures include switching off public fountains and blacking out night-time lights on major buildings such as the town hall and museums. The city’s mayor, Belit Onay, spoke of an ‘imminent gas shortage’ that meant they had to reduce the city’s energy consumption by 15 per cent.
[…] There will also be a ban on portable air conditioners, heaters and radiators among the general populace as the average German begins to pay a price for standing up to the Russian dictator.
[…] Germany, like most of Europe, has been enjoying a hot summer which should soften the blow of the cold showers, but public officials are introducing the measures now in fear of what awaits them when the season turns.
The great pretending continues in order to protect the Federal Reserve from sunlight upon them. Central banks (U.S. Fed Reserve included) are raising interest rates into a recession, which is specifically against their legislative mandate. Therefore, in order to protect the bankers, the pundits and politicians must deny a recession exists.
Pundit Steve Liesman spins the data, says we need to wait longer, and circles the wagons to protect the policy makers, specifically the White House. Mohamed El-Erian tries to split the baby (02:00 video); while not admitting directly that the economy is in a recession, he states the “economy is weakening much faster than expected.” WATCH:
At a certain point all of this pretending and denial is going to come crashing down. The “economic transition” to a new “green future” they are all pretending not to see as the root cause of the economic collapse, has unavoidable consequences.
The dam is breaking around them and they are running out of fingers and toes to stop the inevitable collapse. Meanwhile the Davos crowd has purchased all the scuba gear and awaits the final outcome.
“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”
“But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.”
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
For Thine is the kingdom and the power and the glory, forever and ever. Amen †
Two weeks ago, CTH warned everyone that Joe Manchin’s torpedoing of the $500 billion Green New Deal senate spending program was a head fake; he was always going to sign up to expand the control of the federal government over energy use. Today Manchin and Chuck Schumer made it official.
The people operating the “energy transition” levers will get $370 billion to spend on bigger windmills, more solar panels and new energy programs to eliminate coal, oil and natural gas. They will pay for it by raising taxes and hiring a new army of IRS enforcement officials. In exchange for his vote, the federal government will pay increased health insurance subsidies for West Virginians and pass out lower priced medications.
There you go. Exactly as predicted. Energy inflation will continue as the energy transition becomes a permanent feature. Ironically, Joe Manchin made them change the name to “The Inflation Reduction Act,” and pushed the effective dates for all renewals past the 2024 election (where he plans to be a candidate against Gavin Newsom).
WASHINGTON – Joe Manchin and Senate Majority Leader Chuck Schumer on Wednesday reached a deal on a bill that includes energy and tax policy, a turnaround after the two deadlocked earlier this month in talks on Democrats’ marquee party-line agenda. In a joint statement, the two Democrats said the legislation will be on the Senate floor next week. It includes roughly $370 billion in energy and climate spending.
While admitting that consumer spending had dropped; and while admitting that production of goods and services had “slowed significantly”; and while admitting that consumers have “lower real disposable incomes and tighter financial conditions; and while stating that “activity in the housing sector had weakened”, housing purchases have fallen; and while accepting that “business fixed investment seems to have declined in the second quarter,” Fed Chairman Powell announces his intention to continue targeting excessive demand.
If we accept that monetary policy can only impact the demand side of the economy (regulatory policy impacting the supply side); and if we accept all off the currently existing realities of a declining demand side, as outlined by Powell; then you might wonder what excessive demand is it that he’s targeting? The answer to that question is the secret sauce. They want less energy demand. WATCH (2 mins):
The federal reserve, just like all the central banks around the collective western alliance, is trying to reduce the economy in order to reduce energy use. This is the monetary policy side supporting the Build Back Better, Climate Change, regulatory policy side. {Go Deep}
They cannot admit openly what they are doing, but the bankers are trying to help the globalist politicians by shrinking their economy. Raising interest rates into preexisting economic contraction is against their legislative mandate, because it only leads to unemployment and a smaller economy.
Powell is using the pretense of demand side inflation as a justification to raise interest rates. It’s not demand driving inflation, it’s the energy policy.
Imports are plummeting… should be a good thing… trade imbalance shrinks…. that lifts GDP calculations…. but the problem is…
The state of the U.S. economy is not as difficult as the ‘experts’ always claim. Simple business and checkbook economics always, always, tell you the future. You just have to be willing to accept things as they are, not as you would wish them to be. Let’s have an honest chat. We need it.
Remember, it was November 2021, and no one was paying attention but retail hiring was negative. The month before the 2021 Christmas holiday, when historically businesses would be adding people to their payrolls to support the increase in shopping, and retail businesses did no hiring. In fact, 20,000 retail jobs were LOST the month before Christmas. Retail sales had plummeted. That was a major flare, no one paid attention. Everyone was distracted with the Supply Chain crisis.
Then the fourth quarter 2021 GDP result came in at 6.9%, massively higher than the visible reality on Main Street. The reasoning was identified as a major increase in the value of inventories. While the Biden administration liked the GDP figure, the existence of the unsold inventory was another major flare. Add unsold inventory units to the massive inflationary value of those units (+8%) and you quickly see the +6.9% was bad news, not good news. Major increases in the value of goods have no value unless people are purchasing them. It wasn’t happening. Again, no one (except us) was paying attention.
Then the first quarter of 2022 GDP result came back with a negative 1.6% result. With high inflation those inventories were stagnant. The eight-percentage point GDP swing from the fourth quarter of 2021 to the first quarter of 2022 was another warning flare. Again, no one was truly paying attention. Retail sales -as measured in units purchased- had been in a contracting position since June of 2021, when the stimulus ran out. However, skyrocketing inflation was hiding lower unit sales.
“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”
“But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.”
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
For Thine is the kingdom and the power and the glory, forever and ever. Amen †