Tag: economy

Biden’s Tariffs Are Another Nail in the Dollar’s Coffin

President Biden recently raised taxes on American consumers and businesses and may have hastened the end of the dollar’s world reserve currency status. President Biden did this by increasing tariffs on Chinese imports.

Specifically, President Biden raised tariffs on products including Chinese-produced steel and aluminum and many components imported from China for use in manufacturing electric vehicle batteries. Tariffs on Chinese-made semiconductors are rising from 25 to 50 percent while tariffs on Chinese-made electronic vehicles are rising from 25 percent to an astounding 100 percent.

Of course, the costs of these tariffs will be borne by Americans wishing to purchase electric cars and American electric car manufacturers that use material imported from China. These new tariffs thus undercut Biden’s goal of getting more Americans to drive electric cars.

The tariffs on Chinese goods give China even greater Inventive to challenge the dollar’s world reserve currency status. The same week Biden imposed these tariffs, China President Xi Jinping and Russian President Vladimir Putin announced they were strengthening their alliance in order to better challenge US military and economic hegemony. This is a reaction to US foreign policy of the post-Cold War era which has reversed the Richard Nixon-Henry Kissinger strategy of pursuing good relations with China.

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Almost 50% of Small Businesses Say They’re Not Going to Survive a Second Biden Term

A new RedBalloonand PublicSquarereport reveals that nearly half of small businesses in the United States believe they “definitely” or “probably” don’t stand a chance to survive another four years of Joe Biden presidency.

The survey, which polled 80,000 small businesses, found that 22.4 percent of respondents think they definitely don’t stand a chance to survive another four years under the Biden administration, while 26.2 percent say they’re probably not going survive another Biden term. 

“There is nothing I can afford to do in addition to what I’m already doing. If things don’t change, I’ll be finished,” one business owner said in the report.

Moreover, the findings reveal the precarious state of many small businesses, with 40 percent delaying bill payments and 70 percent putting staffing plans on hold to conserve cash flow.

“It’s been a difficult three years for America’s small businesses,” said PublicSquare CEO Michael Seifert. “While many inside the Beltway may feel like things are good, that isn’t translating to Main Street America – the frontlines of our small business economy.”

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Biden’s Economic Policies, Not Corporate Profits, Are Driving Inflation

Bread line, image courtesy of Antonio Graceffo

In the first year of the Biden administration, inflation hit a 40-year high and has continued to climb steadily since then. However, he blames the problem on “evil corporations,” not his own misguided economic policies.

“Too many corporations raise prices to pad their profits, charging more and more for less and less,” said President Biden in his most recent State of the Union Address. His administration has driven the deficit, expanded the debt to historic levels, printed money, increased the money supply, and given away trillions of dollars to people who do not work and to foreign countries, but he blames corporations for inflation. And to “protect” the public from the evil capitalist system where everyone is free to buy, sell, trade, and earn as they wish, he has vowed to crack down on “price gouging.” Ostensibly, the White House will decide what the “correct” prices should be and which prices are being gouged, and the government will use its vast power to force corporations to return those prices to a federally determined level.

The Federal Reserve Bank of Kansas City blames inflation on corporate profits. Some reports claim that corporate profits accounted for as much as 53% of inflation. The reality, however, is that inflation is a monetary phenomenon caused by the reckless fiscal and monetary policies of the Biden administration.

Inflation, by definition, is the expansion of credit and the money supply. This causes the buying power of the dollar to decrease, which means you need more dollars to buy things. Most consumers see and are alarmed by rising prices, but this is not inflation; it is only the result of inflation. The real culprit is massive debt creation, deficit spending, loan forgiveness, foreign aid, and transfer payments made by the Biden administration.

Evidence used by the White House and other liberal pundits regarding inflation reference the fact that corporate profits are up, identifying this as a cause of inflation. However, corporate profits are up in nominal terms because the dollar is worth less and prices are rising. Corporations took in more dollars, but those dollars buy fewer raw materials and pay for less labor than they did before Biden took office. The same administration that blames corporations for rising prices is also demanding that the minimum wage be doubled. Labor accounts for between 20% and 40% of cost for most retail and fast food businesses. Forcing a doubling of the minimum wage will drive prices up.

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US Congressman Says Revealing UFO Technology Is a Threat to Energy Sector: It Can Disrupt World Economy

A thought-provoking interview has recently been conducted between Project Unity host Jay Anderson and the U.S. Congressman Andy Ogles. The discussion focused on the implications of complete UAP (Unidentified Aerial Phenomena) disclosure. Anderson asked serious questions to Rep. Ogles about UFOs, revealing that the release of extraterrestrial technology could potentially disrupt the world economy and energy sector.

Rep. Andy Ogles spoke about the difficulty in gathering information due to the compartmentalization of special access projects, emphasizing the need for a methodical and persistent approach to uncover the truth. In the interview, he expressed his concern about UAPs operating in both military and commercial airspace, raising questions about the potential national security threats. He said, “I’m not going to assume I know what it may or may not be. What I do know is there’s a national security issue here.”

He considers various possibilities, including the involvement of experimental aircraft, joint ventures, or foreign adversaries. He emphasizes the importance of avoiding predetermined conclusions and encourages an open-minded investigation to determine the true nature of the UAP phenomenon.

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Chief Economic Adviser Refuses To Admit Biden Is LYING About Inflation

Joe Biden’s chief economic advisor refused to admit Thursday that the president keeps telling a huge lie by claiming that inflation was at 9 percent when he took office when it was really at 1.4 percent and shot up to 9 percent under Biden himself.

During an interview on Fox Business, host Neil Cavuto grilled Jared Bernstein, and told him directly “you’re lying,” and “just as bad” as Biden when he tried to dodge the matter.

After Biden took office inflation surged to rates unseen since the early 1980s, peaking at an annual rate of 9.1 percent in June 2022, a full 17 months after he became president.

Yet, he keeps claiming it was ALREADY at 9 percent and that he inherited a weakened economy from Trump.

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Biden REPEATS Whopping LIE About Inflation Being 9% When He Took Office

They say that if you repeat a lie, no matter how big, loud and often then people will eventually believe it, and it seems Joe Biden is doing just that.

On Tuesday Biden repeated the outright lie that inflation was at 9 percent when he took office in January 2021.

Biden was already raked over the coals for this claim last week. There’s no way that he or his handlers don’t know it’s false.

In reality, after Biden took office inflation surged to rates unseen since the early 1980s, peaking at an annual rate of 9.1 percent in June 2022, a full 17 months after he became president.

Yet, he is claiming it was ALREADY at 9 percent.

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Gavin Newsom Blames Climate Change “Weather Events” for California’s Massive Financial Deficit

At a press conference, California Governor Gavin Newsom blamed climate change “weather events” for the significant shortfall in the state’s public finances.

A reporter asked Newsom the following question: “Can we explain to Californians how we moved from $100 billion surplus to such a significant deficit in just a few years?”

After blaming volatility and saying the shortfall was anticipated, Newsom then spoke about unanticipated “rain bombs” that prevented the collection of taxes on time.

“Therein lied [sic] this blackout period that beguiled all of us,” Newsom explained, clearly struggling for words.

“If there was any indication that climate change has impacts well beyond those that are often promoted, I would consider our financial delays as just another example of why we need to tackle them.”

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Gov. Newsom’s Revised Budget Still Doesn’t Add Up

Gov. Gavin Newsom raised his estimate of the state’s budget deficit from $38 billion in his January budget proposal to $44.9 billion in his May Revision released May 10. The plan would spend $187 billion from the general fund for fiscal year 2024–25, which begins on July 1. The California Constitution mandates the budget must be passed by lawmakers by June 15.

But the $44.9 billion immediately is reduced by $17.3 billion, the revised budget explains, thanks to a deal he made a month ago with Assembly Speaker Robert Rivas (D-Hollister) and Senate President pro Tem Mike McGuire (D-Healdsburg).

That leaves $27.6 billion. We’ll have to wait until the nonpartisan Legislative Analyst’s Office releases its own analysis next week to get a more accurate picture. In February, the analyst’s office pegged the deficit at $73 billion. Whatever the actual enormity of the deficit, it’s a shocking flip from the $97 trillion surplus two years ago.

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Commercial Real Estate Crisis Is a Ticking Time Bomb… And It’s About to Go Off

Over 30 million.

That’s the total of empty office space in San Francisco. If that number sounds too massive to comprehend, just picture this for perspective…

The Pentagon has about 6.6 million square feet of office space. So there’s about 4.5 times the office space of the Pentagon worth of empty space in San Francisco alone.

Industry insiders estimate that nearly 36% of offices in San Francisco are currently vacant.

But this issue isn’t limited to San Francisco. It’s widespread across the country…

A recent study from the real estate firm Cushman & Wakefield found that about a fifth of office spaces are empty throughout the U.S.

That’s a staggering 20%. Even higher than the vacancy rate during the 2008 global financial crisis.

Meanwhile, commercial real estate (RE) foreclosures recently jumped 117%.

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ALL HE DOES IS LIE: Biden Claims Inflation Was 9 Percent When He Took Office (It Was 1.4 Percent)

It is sometimes hard to tell whether Joe Biden is lying or simply demented, but either way he is spreading false information to protect his terrible economic record.

In an interview on CNN, Biden claimed that inflation was running at nine per cent when he seized office in January 2021:

No president had the run we’ve had in terms of creating jobs and bringing down inflation. It was 9 per cent when I came into office, 9 percent. But it — look, people have a right to be concerned, ordinary people. The idea that you bounce a check and you get a $30 fee for bouncing the check, I changed that, you can’t charge more than 8 bucks for that or your credit card, your late payment, $35. There’s corporate greed going on out there, and it’s got to be dealt with.

The combination of the inflation, the cost of inflation, all those things, that’s really worrisome to people, with good reason. That’s why I’m working very hard to bring the cost of rentals down, to increase the number of homes that are available.

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