Tag: economy

The Media Kept Rooting For A Tariff-Driven Recession. The Data Keep Disappointing Them

The propaganda press has spent the last few weeks desperately trying to convince Americans that there was an impending recession due to President Donald Trump’s pro-America agenda that included levying tariffs on countries ripping off the United States.

“Companies buying foreign products pay the tariffs imposed on them — and, as a result, face higher costs that are typically passed on to customers,” one Associated Press article read.

NBC News warned that “Trump’s new tariffs will hit lower-income households the hardest.”

CNN said, “Trump’s tariffs will be bad for you. And you, and you, and you, and you.”

Another CNN headline read: “Trump chaos has already damaged the economy. It may be too late to fix it.”

MSNBC went with an op-ed titled “Trump’s tariffs are incoherent and destructive.”

The examples are endless. But on Thursday, that narrative crumbled.

Axios, citing newly released data, reported that there are not signs “of recessionary or inflationary conditions implied by business and consumer surveys.”

The data, according to Axios, show “steady retail sales and a surprising drop in wholesale prices in April.” Data also reportedly indicate that “spending at restaurants and bars, among the few service-sector categories in the retail sales report, rose by 1.2% in April.”

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Germany’s Fiscal Suicide

Germany’s general state debt spiral should be a constant feature in daily headlines. Its prominence should force policymakers into a radical fiscal turnaround. Yet while Germany is working under immense pressure to ban the AfD, forming alliances with left-wing extremists and eroding the political culture, on the other side of the Atlantic, preparations are underway for the approaching storm.

We live in record-breaking times. In the first quarter of this year, global debt surged to a record high of $324 trillion. This milestone becomes significant when compared to global GDP, which currently hovers around $110 trillion. Governments worldwide now owe 100% of GDP — an alarming reality, as no modern state has ever managed to free itself from the ensuing fiscal bind once this threshold is reached. Debt levels of 80-90% mark the “point of no return.”

The Tipping Point of the Debt Spiral

At this scale, debt reaches a critical mass. It inevitably forces an escalating debt service burden that drains scarce capital from the private sector to finance bloated social funds, ultimately leading to the same scenario we faced 15 years ago during the last severe sovereign debt crisis. Back then, Greece’s impending default sent shockwaves across credit markets. Central banks intervened with trillions, and governments stepped in to rescue debt-laden pension funds and banks with taxpayers’ money.

Greece’s national debt stood at 143% at the onset of this crisis, and it is now about 155% — no debt consolidation has occurred. The southern European countries are, quite frankly, sinking into a swamp of debt. Italy, with 140%, Spain at 120%, and France’s budget deficit at 7%, leave much to be desired. On average, the EU’s debt-to-GDP ratio is now approaching 95%, closing in on the global benchmark of 100%.

Bond Vigilantes Lurk in the Markets

We must now prepare for the moment when a tipping point in bond markets triggers a series of sovereign defaults. This will occur when a growing crisis of confidence among investors, banks, and investment funds translates into a sell-off cascade in the bond markets. Let’s keep an eye on interest rates: if they rise with high volatility and market volume, general unrest is on the horizon. We have already witnessed the emergence of “bond vigilantes” this year — critical bond investors who pull the plug when debt levels rise. On the day it was announced that Germany would borrow about a trillion euros over the next four years and issue corresponding bonds, the interest rates on German bonds surged by more than 40 basis points.

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Highest Tax State of California Bracing for Budget Shortfall of Ten Billion or More

The state of California is currently looking down the barrel of a possible budget shortfall of ten billion dollars, or possibly more than that.

This news comes just weeks after it was reported that their state-run healthcare plan, which covers illegal aliens, is over budget by billions. The state is also dealing with a massive recovery effort after wildfires ravaged a huge area in the southern part of the state earlier this year.

It’s incredible that some Democrats and people in media think Governor Gavin Newsom would be a good candidate to run for president in 2028. What has he done besides drive his state into poverty and population loss?

Breitbart News reports:

Gavin Newsom, California Face Another Budget Shortfall; $10-$20 Billion

California Governor Gavin Newsom and state lawmakers are bracing for a $10 billion budget shortfall — even before federal spending cuts undertaken by the Trump administration and the Department of Government Efficiency (DOGE).

Newsom and the Democrats took a near-$100 billion surplus in 2022– partly fueled by federal coronavirus funds under the Biden administration — to a near-$50 billion deficit in 2024.

Earlier this year, the state was forced to borrow $6.2 billion to fund Medi-Cal, the state’s Medicaid program, which Newsom and his party expanded to cover illegal aliens.

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Gas prices could top $8 in California by 2026 due to refinery closures, report warns

According to a new report, gas prices in California could increase up to 75% by the end of 2026 as the state prepares to lose nearly one-fifth of its oil refining capacity.

The scheduled closure of the Phillips 66 refinery in Los Angeles, along with Valero’s planned shutdown of its facility in Northern California, represents a potential 21% reduction in California’s refining output over three years, according to a report by Michael A. Mische of USC’s Marshall School of Business.

“The estimated average consumer price of regular gasoline could potentially increase by as much as 75% from the April 23, 2025, price of $4.816 to $7.348 to $8.435 a gallon by calendar year end 2026. We can expect retail prices to be even higher in counties such as Mono and Humboldt,” Mische wrote.

California currently consumes more than 13.1 million gallons of gasoline daily. With the state producing just under 24% of its crude needs, the loss of refining capacity could create a deficit of 6.6 million to 13.1 million gallons per day.

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Worse Than Trudeau: Canadians Should Expect Disaster With Carney In Charge

Justin Trudeau’s far-left regime in Canada has finally come to an end as the politician exits leadership in disgrace.  His legacy includes authoritarian governance during the pandemic, whereby he threw Christian church goers and pastors in prison for refusing to stop congregations.  He called for mass forced vaccinations, and he locked the bank accounts of protesters speaking out against the covid mandates.  His admin compared people donating to the cause to “terrorists”. 

His socialist economic policies helped to exacerbate Canada’s inflation crisis and his open immigration policies greatly expanded the the flood of third-world foreigners, driving up housing prices, crushing the labor market and straining social services.  By most accounts, the majority of Canadians were ecstatic to see Trudeau exit the stage. 

But what if they still haven’t learned their lesson?  How is that even possible?

According to recent polls for the 2025 election set for April 28th, it is likely that Canadians have very short memories or they’re gluttons for punishment.  Why?  Because Mark Carney and the Liberal Party are projected to make considerable gains.  Carney has rebranded himself as a “centrist” in order to win public favor, but nothing could be further from the truth.  Mark Carney is, in fact, worse than Trudeau on every level.

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“Take Control Of Their Food Supply”: Tractor Supply CEO Says Backyard Chicken Demand Skyrockets  

President Trump’s swift action to combat soaring egg prices, caused by the Biden-Harris regime’s mass culling of egg-laying hens just before he took office, has been nothing short of spectacular.

Egg prices have since collapsed, forcing Democratic strategists to abandon their propaganda warfare efforts with corrupt leftist corporate media to blame “egg-flation” on Trump when, in reality, it was a crisis of Biden’s making through improper culling practices and no countermeasures to offset loss production. It’s almost as if the prior administration wanted consumers to feel pocketbook pain. 

Trump saves the day. 

Earlier this year, as egg prices spiked to record highs during the tail end of the Northern Hemisphere’s winter season, we urged readers to purchase backyard chicken coops and take control of their own food supply chains:

Months later, with the latest USDA retail egg prices down 62% from record highs of more than $8 per dozen, Tractor Supply CEO Hal Lawton confirmed to investors on an earnings call this week that the nationwide egg shortage sparked an unbelievable surge in chick demand at stores nationwide.

Here’s more from Bloomberg:

Tractor Supply Co., a rural retailer best known for its animal feed and ranching equipment offerings, expects to sell a record amount of chicks this year as customers expand their broods and first-timers seek to avoid record-setting egg prices.

Those novice poultry farmers are attempting to “take more control of their food supply,” Tractor Supply Chief Executive Officer Hal Lawton said during the company’s first-quarter earnings call Thursday, after egg prices more than doubled this year.

Mizuho Securities Director David Bellinger wrote in a note earlier this month that 7 million to 8 million of Tractor Supply’s loyalty members now own chickens. 

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The Case For Tariffs – How Tariffs Can Help Bring Back The Golden Age Of American Economy

About once a decade, the question of Protective Tariffs finds its way into the national debate. Whether a political candidate dares to raise the issue or a clever collection of activists and analysts work together to inject it into the national discussion, the reaction is always the same from the halls of entrenched power – hysteria and panic over the mere discussion of tariffs. 

Both the establishment Right and the establishment Left in the United States argue that tariffs represent an end to industry and trade, that they deny opportunity to the third world, will only raise prices for American consumers, and that they are the first shot in a tragic trade war. In the halls of corporations and academia, everyone seems to agree – tariffs are bad for the economy and the country as a whole. Predictably, corporate property in Congress parrot the same line and it appears that opposing tariffs is one of the few areas where Democrats and Republicans can agree.

Thus, when anti-tariff politicians, CEOs, and academics speak, their warnings that tariffs represent an end to their globalist vision where international corporations continue to abandon Western workers with their pesky wages, rights, and protections while exploiting third world workers for lower wages, easy replacement, and lack of concern for basic human needs are thinly veiled. This latter, more honest, concern is, in fact, correct. tariffs do threaten globalism and corporate exploitation of workers and societies. Particularly older working class citizens remember the days of American Tariffs and the undeniably better economic distribution of wealth and opportunity they afforded. Younger (middle aged) Americans remember at least the removal of those Tariffs and the “giant sucking sound” of American jobs leaving for Mexico, South and Central America, Asia, and China that decimated their communities and the American economy before their eyes. Indeed, it seems that the working class inherently understand the benefit of Tariffs and Protectionism, at least when they are properly explained. This is why such a massive and sustained media, academic, and governmental propaganda campaign has been invoked to convince them otherwise and why, whenever Tariffs are mentioned in the public discourse, they are immediately attacked as fringe, crazy, xenophobic, racist, populist, and dangerous. 

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Cloward-Piven And The Migrant Invasion

John Maynard Keynes, who should be burning in Hell for his shyster economic theories, is largely responsible for our current looming apocalypse. 

His theory basically is that only demand, made more real than just wishing for things by creating fiat money and credit, is important, since in his myopic, context-dropping theory, people produce a supply when there is a demand. 

(That they’d want the money they are paid to be valuable enough to buy someone else’s products he neglects to envision.)

His theory was refuted by F.A. Hayek at the time. But politicians usually ignored the refutations, since they saw a way of expanding their power and budgets while using a bit of Cambridge University produced con artistry as cover. Politicians are the first ones to get to spend new fiat currency and credits, deciding which donors, cronies, businesses, organizations will get it, before it causes inflation and reduces the purchasing power of the currency in general. It allows a constant redistribution of wealth to whoever controls the printing press and those nearest to them.

Keynes is also famous for saying: 

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist.” 

Once again he is wrong. 

We are currently being pushed even faster toward disaster, not just by his voodoo macroeconomics, and not by the ideas of dead economists, but of a deceased sociologist.

The sociologists in question are a husband and wife team, the late Richard Cloward and his wife Francis Fox Piven (still with us at 92), professor at the Columbia University School of Social Work. 

The Cloward-Piven Strategy, which the couple first published in the socialist magazine The Nation, sought to bring change out of chaos. The idea was that social workers and other government employees and leftist groups (Ms. Piven was on the board of Democratic Socialists of America) would cajole anyone they could to apply for every government assistance program, until the welfare state was so overloaded it broke down, which would lead, they thought, to the institution of a “free” minimum guaranteed income for every American.

Whether this would have worked or not, subsequent strategists on the left clearly decided to expand it by importing poor people from anywhere in the third world. 

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Oakland’s New Mayor Wants $50 Minimum Wage, What Could Possibly Go Wrong?

Barbara Lee, a longtime Democratic politician, is stepping into her new role as mayor of Oakland amid economic chaos and public concern.

After leaving her congressional seat in 2024 to pursue a U.S. Senate bid—ultimately losing to Adam Schiff—she returns to city politics at a precarious moment.

Oakland’s city government is staring down an $87 million budget deficit.

Pensions, insurance, and a shrinking tax base are expected to make matters worse.

The city has become a symbol of urban decline in California, marked by rampant crime, business closures, and general lawlessness.

Oakland voters have made their choice, and now they’ll live with the consequences.

Barbara Lee’s election is not just another leftward lurch—it’s a hard swerve into fantasy economics and failed policies repackaged as “progress.”

Anyone who thinks raising the minimum wage to $50 an hour—equivalent to $104,000 a year—is a sane or sustainable policy shouldn’t be running a lemonade stand, much less a major city.

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Stocks surge as White House confirms 100 countries want a trade deal with U.S.

White House spokeswoman Karoline Leavitt has confirmed that there is progress on President Donald Trump’s agenda to get fair international trade standards for American manufacturers and consumers alike.

The president launched a series of tariff battles because for years American producers have had to pay high tariffs to get their products and services into other nations, while those nation’s often have been given virtually free access to American markets.

The imbalance is what has caused America’s large trade deficit and other financial complications.

Trump’s tariffs have been producing results she said.

“We’re doing very well in respect to a potential trade deal with China. There have now been 18 proposals and more than 100 countries around the world who are wanting to make a deal with the United States of America,” Leavitt confirmed.

“The president and administration are setting the stage for a deal with China. … We feel everyone involved wants to see a trade deal happen — and the ball is moving in the right direction.”

The Daily Mail pointed out the Dow Jones Industrial Average rocketed up 600 points on the announcement. Actually, the market surged about 1,000 points on the news.

Fox News reported she continued, “You have Secretary Bessent, Secretary Lutnick, Ambassador Greer, NEC Director Hassett and Peter Navarro, the entire trade team meeting with 34 countries this week alone. We are moving at Trump speed to ensure these deals are made on behalf of the American worker and the American people.”

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