Tag: economy

Things We Should Understand: The Aristocracy Is Eating The Peasants

Most people (especially most Americans) still seem to view the events of the past half-century as more or less random.

Booms and busts erupting out of nowhere, impoverishing all but a handful of lucky elites. Political crises that end up dividing rather than uniting. Wars that cost fortunes and resolve nothing. Everything is bad, and nothing is related to anything else.

But of course that’s not true. Each of the above events serves the same purpose: to enrich a modern aristocracy at the expense of everyone else. And the endgame is looking even worse.

To see the scam play out, let’s go back to 1995. Two decades previously, in 1971, the US and by extension the world had ditched sound, gold-backed money in favor of “fiat” currencies that their governments, via their central banks, could create in infinite quantities out of thin air. The result was spiking inflation and exchange rate chaos in the 1970s and soaring government deficits in the 1980s.

By the 1990s it had become clear to the people running major governments and big corporations that unsound money would lead to unsustainable debt, which in turn would destabilize the financial world and bring about a hyperinflationary depression followed by a French Revolution-style reckoning for those responsible.

That generation’s elites were thus left with two choices:

  1. Return to the gold standard and avoid monetary collapse — but at the cost of giving up the ability to create money at will.
  2. Or use their fictitious currencies to steal as much real wealth as possible from the peasants and let future elites deal with the eventual collapse.

They, as the sociopaths we now know them to be, chose the second strategy.

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Biden-Buttigieg DOT fails to track aviation imports while prioritizing equity, climate justice

The Transportation Department and the Federal Aviation Administration do not track imports of plane parts, creating serious vulnerabilities that could increase the risk of supply chain disruptions, according to a new report by the department’s internal watchdog.

The DOT and FAA are not required to track aviation imports, but the “COVID-19 pandemic caused major disruptions in the aviation supply chain and highlighted the need for Federal intervention to address associated vulnerabilities,” the Transportation Department Inspector General wrote in a report published last week. 

“We identified several vulnerabilities that increase the risk of aviation supply chain disruptions,” the IG reported, “including the lack of visibility into supply chains, dependence on sole-source or limited suppliers, and lack of access to rare earth metals and elements.” 

The report came in response to a request from Republicans on the House Transportation and Infrastructure Committee and its Aviation Subcommittee after members asked in April 2021 how the agency tracks critical aircraft imports and the number of aviation parts produced exclusively in China or India. 

Overall, France is the leading source of U.S. imports of aviation products, with 24% of the total. Canada ranks second, with 17%. China, accounting for 2% of U.S. aviation imports, comes in at number 10.

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Fed Blames Inflation on Americans ‘Splurging’ on Goods — Not the Trillions of Dollars they Printed

A few weeks ago, US Secretary of the Treasury Janet Yellen appeared on the Late Show With Stephen Colbert to discuss a range of issues both political and personal.

The most widely reported moment in the interview came when Yellen talked about practicing her signature (don’t ask me why this is newsworthy, I have no idea). However, a significantly more important moment has not gotten the attention it deserves.

When asked by Colbert to explain the reasons behind the worst inflation the US has experienced in 40 years, the former Federal Reserve chair blamed it primarily on rising consumer spending—Americans “splurging” on goods—at the start of 2021 once the Covid-19 lockdowns were lifted. This, compounded with supply chain issues and the war in Ukraine can sufficiently explain inflation, Yellen claims.

But can it really? Let’s take a closer look.

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We’ve entered into a “new world order” says BlackRock Chairman

In its 2023 Global Investment Outlook, multinational investment firm BlackRock stated that “we’ve entered a new world order,” in which “geopolitical cooperation and globalization” are “evolving into a fragmented world with competing blocs.”

The report noted that we are now in “the most fraught global environment since World War Two.”

According to the report, the fragmentation of the world into power blocs (especially the US, Russia, and China) “comes at the cost of economic efficiency.” Western sanctions against Russia, for instance, have made “energy security” a priority for many European nations.

This “geopolitical fragmentation” will “likely contribute to the new regime of greater macro and market volatility – and persistently higher inflation,” according to the BlackRock report.

On page 3, it also says, “The transition to net-zero carbon emissions has caused energy supply and demand mismatches.”

BlackRock manages almost $10 trillion in investments, making it the world’s biggest asset manager. It’s played a key role in pushing the globalist agenda. It supports cashless societies and digital currencies, green energy transitions, and ESG scores.

ESG scores promote investments in companies with leftist social justice goals, like renewable energy, racial equity, and abortion access.  In addition to incorporating ESG principles, BlackRock has promised to leverage its “ESG-focused financial products” to promote “Diversity, Equity, and Inclusion.”

BlackRock lists the World Economic Forum as one of its “key diversity partners,” which promotes mandatory vaccinations and lockdowns, abortion access, and the globalist “Great Reset.”

BlackRock’s promotion of a “New World Order” legitimises what many still call conspiracy theories. In March the World Government Summit 2022 asked the question, ‘Are We Ready for a New World Order?

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American voters don’t need Russian trolls to tell them how bad things are

As US voters head to the polls for the much-anticipated Midterms, talk of Russian trolls monkeying with US democracy is back in the news. But does the country really need Russia’s help in “stoking anger” among the electorate?

If the hyper-liberal New York Times can be taken at face value just two days before an epic election, Russia’s underground army of trolls is, once again, attempting to seed the minds of malleable US voters to the Kremlin’s advantage. If those charges sounded outlandish in 2016, when the Democrats accused Russian ‘influencers’ of denying Hillary Clinton the presidency, they seem doubly so today.

The Times reported that the goal of the reactivated Internet Research Agency in St. Petersburg is to “stoke anger among conservative voters and to undermine trust in the American electoral system.” Judging by the looks of things, the Russians are a bit late to the party. It would be hard to name another period in US politics when the level of anger and distrust has been so extreme, and that is something the Russian trolls, despite their supposed superhuman abilities, can’t take credit for.

Take inflation, for example, the single most pressing issue among US voters. It doesn’t require any sort of Russian mind-bending operation to inform Americans that the economic situation is deteriorating before their eyes, and has been ever since Biden entered office. They only need to look at their food and utility bills each month, and the price at the gas pump, to feel fury for what the Biden administration has done to the economy in a shockingly short period of time. Any effort to blame these negative sentiments on “the Russians” is just another way of the Democrats saying that soaring prices is “disinformation” and unworthy of your attention.

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Millions Of Americans Face Eviction In Coming Months

The economy is fine, so we’re told. There is no recession, so we’re told. The Federal Reserve has everything under control, so we’re told. Meanwhile, 3.8 million Americans say they could face eviction in the next two months.

It doesn’t sound like everything is fine.

The median rent in the US eclipsed $2,000 per month in June for the first time ever. It’s another symptom of rampant inflation burning through the US economy.

While the CPI cooled slightly in July, shelter costs rose another 0.5% month-on-month. On a yearly basis, shelter costs have spiked by 5.7%, according to government numbers. And the CPI drastically understates the cost of housing. Actual rents have increased more than 15% in the last 12 months, according to data compiled by Zillow.

With rents skyrocketing, households representing 8.5 million people are behind on their rent, according to the Census Bureau. Of those, 3.8 million say they are somewhat or very likely to be evicted within the next two months.

According to Yahoo Finance, “The combination of soaring inflation, the end of most eviction moratoriums and rental assistance payments and an extremely low vacancy rate has pushed rents up — and many renters out.”

Nearly half of all renters experienced rent hikes in the past 12 months, according to Census Bureau data. Eleven percent have seen rent increases of over $250 per month.

To make ends meet, people are turning to credit cards and loans, raiding savings, selling assets, and dipping into retirement funds. According to the Census Bureau, 57% of renters said they were forced to resort to one of these desperate measures to keep up with their rent.

This dovetails with the skyrocketing levels of household debt. Americans added another $40.1 billion to their debt load in June alone. That represented a 10.5% year-on-year increase. Credit card balances increased by $46 billion in the second quarter of this year. Over the last year, credit card debt has exploded by 13%, the biggest increase in over 20 years.

According to Yahoo Finance, the Fed’s efforts to stem inflation are adding to the pain. With mortgage rates rising, renters who were hoping to buy homes have been priced out of the market.

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