Neil Oliver uses language to hack the great red pill vending machine and feed the masses.   In his weekly monologue today, Oliver notes the great resetters, the alliance of multinational corporations and government leaders, are intent on using fear and finance to build the post-covid control mechanisms over the people within western society.

Create massive costs, destabilize the people, manipulate the crisis and leave the common family left trying to figure out what is happening.  Government and bankers using fear and finance respectively; both leveraged against the people, while drumbeating the continued nonsense of climate change and the need to ‘save the planet’.  Video and Transcript below, well worth WATCHING and Reading:

[Transcript] – “Things are heating up – can you feel it?

It’s been warm in parts of Britain – although not as warm as climate crisis experts predicted. By this I mean the latest figures released by the United Nations’ Intergovernmental Panel on Climate Change – the infamous IPCC – show the world’s temperature hasn’t risen for 15 years.

According to press reports last week, politicians in Germany, Hungary, Belgium and the US – politicians who depend on climate crisis scientists’ computer modelling and predictions to justify their hugely expensive green energy policies – apparently wanted the many hundreds of scientists around the world responsible for the report to cover up the inconvenient truth that Earth’s temperature has plateaued for a decade and a half.

The report was just quietly slipped out onto the Internet instead, without press release or any other fanfare.

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Western sanctions against Russia have been used primarily to obfuscate the cause of western inflation and keep the citizen pitchforks from reaching various government offices.  So far, the strategy -assisted by western media- has been mostly successful.

However, the International Energy Agency (IEA) is reporting that despite the western sanctions against Russia, the Russian energy sector is having no trouble finding customers for its oil sales.  With global oil prices at their highest rates in years, in part driven by the energy policy of the same western leaders who triggered the sanctions, Russia is getting just as much economic benefit as it was before the sanctions regime was triggered.

(EU FINANCE) – Russia continued to rake in oil revenues in May despite a global boycott from companies and most countries following its invasion of Ukraine, a new report has shown.

The International Energy Agency (IEA) said the Kremlin’s oil-export revenues surged to around $20bn last month, an 11% increase from the month before, despite shipping lower volumes.

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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)

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They might even hold hearings on it….

Joe Biden’s repeated use of the phrase “Putin’s price hikes” is intended to shift responsibility for inflation away from his own policy and assign blame to Russia. Biden is essentially pretending that Vladimir Putin has control over White House energy policy, in order to protect his administration from the American people realizing all of the economic pain they feel is being done purposefully.

Putin didn’t price hike anything. The cause of the current spike in global oil prices was created, in the largest part, by the western sanctions against Russia; not the action of Russia itself.

Factually, massive global inflation began in early 2021 as an outcome of Western government spending and monetary policy. The U.S. Federal Reserve, EU and western alliance central bankers created the issue and were always going to face inflation as an outcome of their agreed direction. As the inflation started to become a serious political problem for them, the Ukraine conflict became the excuse, the blanket to hide the real origin of the problem.

Almost every western government leader now deflects responsibility for their inflation by pointing fingers at Vladimir Putin, this is not coincidental.  Just like their agreement to follow each other into the unsustainable spending spiral via “Build Back Better,” the same Western alliance -united members of the World Economic Forum- must now collectively deflect attention away from the consequences of their catastrophic agenda.

The global inflation crisis is, in essence, a direct and immediate outcome from the designs of the ‘The Great Reset.’  It is within this reset where the global cleaving is underway.

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The Bureau of Labor and Statistics has released the May inflation report [DATA HERE] showing a 1.0% increase in the month of May, bringing the rate of inflation to 8.6 percent.  The highest rate of inflation in over 40 years.

This month of inflation data is particularly important because it cycles through the May 2021 calendar comparison from last year when the first wave of massive inflation first triggered.  The current year-over-year 8.6% rate of inflation now lands atop twelve months of massive increases in prices.

The data clearly shows how energy costs are the dominant factor hitting every aspect of consumer purchasing.  Gasoline increased 4.1% for the month, 48.7% year-over-year.  Fuel Oil increased 16.9% in May, 106.7% year over year.

The energy sector is crushing the ability of consumers to spend on anything else.   Real wages declined in May 0.6% as paychecks are being eaten up by massive inflation.  On an annual basis wages have declined by 4% year-over-year [BLS DATA].

Unfortunately, there is no forward optimism for any change in energy policy from the Joe Biden White House, that means energy costs will continue skyrocketing as the ideologues in control of the administration push their climate change Green New Deal policies.

Additionally, we still have the third wave of massive food price increases to look forward to later in the summer as the big increases in field costs start to reach the supermarket.  Those food store increases will average around 20 to 30% more than current.

Table-2 gives you a great breakdown of the price increases in specific sectors within each of the larger categories.  [SEE HERE] Eggs increased 5% in May, that’s a 60% annualized rate of inflation for eggs, which are already 32% more than last year.  Chicken is exceeding 30% inflation and growing.

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Treasury Secretary Janet Yellen has more financial and analytical resources at her fingertips than thousand hedge funds combined. When Secretary Yellen claims today that she “got it wrong” about inflation, what she is doing is continuing the game of pretending; she’s positioning the administration as incompetent, not deliberate.

The illusion of incompetence plays into the scheme of hiding the fact the administration is working through a purposeful strategy. In the game of pretending; and under the current circumstances; it is better to be seen as incompetent than recognized as working with malicious intent.  This is the illusion behind Joe Biden’s usefulness.

This is also the organized pretending game within DC that too few people will accept or admit. The Treasury Secretary and Federal Reserve Chairman are not making mistakes, they are working on a specific agenda and economic plan. Federal Reserve Chairman Jerome Powell was not late to raise interest rates, he waited on purpose. He waited for the political reason of waiting until the triggered 2021 inflation spike cycled through the full calendar year.

These are not monetary policy leaders making monetary policy mistakes. These are monetary policy political ideologues, carrying out a political agenda within the U.S. economy. This is part of what National Economic Council Chairman Brian Deese would call the “economic transition.” WATCH this through the correct prism:

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Joe Biden sought counsel today from New Zealand Prime Minister Jacinda Ardern about how best to remove firearms from Americans and force the U.S. economy to a dependency on renewable energy.   Prime Minister Ardern took the top spot in the global progressive movement after the retirement of German Chancellor Angela Merkel.

PM Ardern, a remarkable smiley-faced fascist, now represents the face of modern global leftism and boned-up her progressive bona fides with the totalitarian New Zealand COVID policy.  The corporate fascists within the World Economic Forum love the government compliance model represented by Ardern to the collective global society they are creating.

New Zealand has a population of 5 million people, and a GDP of $205 billion (about the same as Nevada).  By comparison the U.S. has a population exceeding 350 million and a GDP exceeding $21 trillion. That said, during their White House meeting today, Joe Biden emphasized that he welcomes the assistance of PM Ardern in helping to guide U.S. efforts for firearm regulation and a comprehensive climate change driven renewable energy economy.

[Transcript] – […]  You understand that your leadership has taken on a critical role in this global stage — and it really has — galvanizing action on climate change; the global effort to curb violence, extremism, and online, like happened in Christchurch.

And — you know, we want to be — I want to work with you on that effort.  And I want to talk to you about what those conversations were like, if you’re willing.

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…..Quit Pretending

Joe Biden is not running this economy.  Joe Biden’s economic advisors are not running this economy.  Joe Biden’s cabinet members are not running the economy. The people running this economy are the climate change activists behind the scenes who have been elevated into positions in all economic cabinet offices throughout the administration.  This was the deal in 2020 that led to Biden’s installation.

Professional political activists, Elizabeth Warren and Bernie Sanders types, within the Interior Dept., Energy Dept., EPA and other regulatory agencies related to the energy economy are in control. Not a single operator within the system looks to the White House or executive office for guidance.  They knew they had a short window to carry out the unilateral agenda regardless of damage it does.

This is a full-throated assault on the energy industry under the auspices of the climate change agenda. And that is what is collapsing Main Street and pushing massive costs onto consumers via inflation.  That’s it. That’s the background. No one in/around the White House has any control over the consequences. That was the 2020 deal made, and the reason why Biden was selected as the nameplate.

Oil prices have shot up to $120/barrel.  Russia and Ukraine are being used as a smokescreen for the ‘Build Back Better’, or domestically, the “Green New Deal’, agenda.  The same climate agenda supported by the entire Western government alliance who bow to the altar of the World Economic Forum.

Damn the consequences, full speed ahead. Main Street citizens are collateral damage.  They don’t care. In the view of the operators, their urgent goals are bigger than our needs; and their high-minded, filled with superiority justification is, they are trying to save us from ourselves.

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Have you ever seen egg prices at $1 per egg range, or $12/doz?  Hold on a few months and perhaps you will.  That is the context for the scale of food price increases the USDA is now starting to predict.  The highest predicted change in food costs in well over 40 years, that’s the USDA warning in their revised May “Food Price Outlook”. [DATA HERE]

This month the USDA just re-re-revised the forward price outlook, and things are grim.  It likely doesn’t come as a surprise to many CTH readers because we have been discussing the convergence of events since October of 2021, when we first were able to predict Wave-1 (Dec/Jan), and Wave-2 (March/Apr) inflation.  However, the underlying data for Wave-3 is double the prior two phases.

Keep in mind the data is national & skewed toward low estimations as represented by (+).

When the USDA predicts egg prices increasing by 19.5 to 20.5% (from where those prices are now), there will be regions with much higher retail increases than estimated.

Just two months ago, USDA had egg inflation at 2.5%-3.5% range, year over year.  Again, that’s the scale of change; from a 3.5% forward outlook to a 20.5% forward outlook effective right now.

Food at home (grocery store) prices: up 7% to 8% in this monthly review, versus the April outlook of a rise of 5% to 6%. That means the USDA is predicting the highest grocery store price rise since 1980 when prices rose 8.1% (prices rose 7.2% in 1981).  There is no reason to think the USDA forecast will not rise again in June.

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