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2023-


2023-03-23 c
BOLSHEVIKS MADE DEMOCRATS DO IT IV

DEMOCRATS HAD TO CHEAT TO WIN BECAUSE THE BOLSHEVIK'S GREAT RESET HAD NO CHANCE
WITH A TRUMP SECOND TERM.

This case could expose the cheat machine in Arizona.


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See also: https://justthenews.com/politics-policy/elections/arizona-supreme-court-sends-piece-kari-lakes-election-lawsuit-back-trial
 

2023-03-23 b
BOLSHEVIKS MADE DEMOCRATS DO IT III

FEDERAL BUREAU OF DEFENSE INFILTRATION
Fake insurrection narrative must prevail!


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SHOCK: The FBI is paying J6 defense witnesses to provide the defense’s trial strategy to Biden’s DOJ. The government has paid informants inside the trial feeding information to the FBI and DOJ. This is beyond outrageous. There is no justice in America today. @Jim_Jordan h/t… pic.twitter.com/9JuDygwDQr

— @amuse (@amuse) March 22, 2023

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See also:


2023-03-23 a
BOLSHEVIKS MADE DEMOCRATS DO IT II

BIDEN TOLD BY HIS WEF OWNERS TO DENIGRATE
MEXICO & ITS NATIONALISTIC ENERGY POLICY.

Biden's owners terrified that Americans living near the Mexican border
will cross the border to buy cheaper diesel & gasoline,
undermining the artificial fuel scarcity agenda of the climate crazies.



Mexican President AMLO Hits Biden Over Likely Arrest of Trump, While Pushing Back Against Dangerous Cartel Narrative [& Continuing Efforts to Make Mexico Energy Independent]

Let it not be said that Mexican President Andres Manuel Lopez-Obrador (AMLO) does not understand what the Biden administration is attempting in the recent criticism and passive aggressive posturing toward Mexico.

Yesterday, AMLO was outlining a specific set of infrastructure initiatives that are ongoing.  Three new oil refineries together with new railroads and highways are under construction as the government continues positioning itself for energy independence. [Video Here]  However, it’s what he said after the energy remarks that’s really stunning.

The energy plan, which runs counter to the expressed demands of [WEF-occupied] Canada and the [WEF-owned Uniparty of the] United States, includes two regional ‘green’ refineries that will have the ability of turning used cooking oil into fuel.  However, the plan also includes new oil refinery capacity that will permit cheap gasoline independent of the need for Mexican oil to be refined in Texas and returned.

All of the refinery projects are on schedule to be completed by the end of this year and into 2024.  In essence, Mexico will have very cheap gasoline and diesel fuel in the near future.  This was previously outlined as a goal by AMLO in July 2022, and is against the interests [of] the [WEF owners of the illegitimate] Biden administration.  Now those plans are becoming a reality.  Mexico is not joining the North American suicide mission of windmills, solar panels and reliance on unstable green energy.

Ever since the July 2022 Oval Office press conference at the White House, CTH has been saying to keep an eye on Mexico, because these energy plans align more with the BRICS nation's agenda than the goals and objectives of the World Economic Forum (western nations).   It is not accidental the U.S. government, including our intelligence agencies and DHS, has been seeding a negative overall impression of Mexico ever since.

During his remarks, and showcasing that AMLO does actually understand how the Biden administration will/is using alternate angles to undermine the Mexican government, AMLO publicly hit back at Joe Biden over the pending arrest of President Trump.  As noted by U.S-Mexican correspondent José Díaz Breseño, “Angry at US criticism of human rights in Mexico, AMLO comes out in defense of Trump, assuring that his arrest would be a move to prevent him from running for President in 2024.”

President Lopez-Obrador also pushed back against the U.S. narrative about dangers in Mexico related to the cartels. “AMLO goes further to say that the Biden Administration has no right to speak about violence in Mexico since it allegedly authorized “sabotaging” the Nord Stream gas pipeline as journalist Seymour Hersh argues.” Breseño notes.

Have you noticed that not a single U.S. media outlet is reporting on this issue?  I have been looking, waiting to see if anyone would pick up on this very important story; yet, it is almost invisible in the United States.  This silence is not a mistake.  The UniParty media do not want these notations taking place.  Indeed, if we stand back and look at the larger geopolitical picture, we can again see that AMLO is a thorn in the side of the larger objectives of the western alliance.

We will keep watching


(read more)



2023
-03-22 e
BOLSHEVIKS MADE DEMOCRATS DO IT I

TO DESTROY AMERICA UTTERLY, DISSENT MUST
BE CRUSHED, WRONGTHINK CRIMINALIZED &
THE SECRET POLICE GIVEN NEW TOOLS TO
USHER IN THE NEW WORLD ORDER



See also: https://thefederalist.com/2023/03/20/time-is-running-out-to-speak-freely-about-free-speech-in-america/


2023-03-22 d
BOLSHEVIKS MADE HIM DO IT IV

TO DESTROY THE HATED WHITE MIDDLE CLASS &
IMPOVERISH EVERYONE ELSE, NEWSOME,
BY
INVOKING A FAKE CLIMATE CRISIS
, MUST DISMANTLE
THE DIVISION OF LABOR, HOBBLE
THE ECONOMY WITH INSANE REGULATIONS & SHATTER THE JUST-IN-TIME INVENTORY MODEL BY DERAILING THE SUPPLY CHAIN


2023-03-22 c
BOLSHEVIKS MADE HIM DO IT III

TO FURTHER THEIR PLANNED ONE WORLD
GOVERNMENT, THE ILLEGITIMATE BIDEN REGIME
HAS BEEN INSTRUCTED TO NAME UNQUALIFIED
JUDICIAL NOMINEES WHO WON'T LET THE
CONSTITUTION GET IN THE WAY



2023-03-22 b
BOLSHEVIKS MADE HIM DO IT II

TO FURTHER THEIR GREAT RESET AGENDA,
A SOROS DA MUST TWIST THE LAW INTO A PRETZEL
TO PREVENT A NATIONALIST LIKE TRUMP
FROM RUNNING AGAIN


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2023-03-22 a
BOLSHEVIKS MADE HIM DO IT I

TO FURTHER THEIR BUILD BACK BETTER AGENDA,
DR. FAUCI PRACTICED EUGENICS 
& BLACKS RESISTED HIS LETHAL INJECTIONS.


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2023
-03-21 c
THIS WEEK ...

... DESPERATE DEMOCRATS DOING THE BIDING OF DESPERATE BOLSHEVIKS DO DESPERATE THINGS.
This is to be expected from a political party that believes
it has mastered all facets of electoral fraud.


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See also: https://www.dailymail.co.uk/news/article-11886761/Trump-indicted-WEDNESDAY-wont-appear-court-week.html

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See also: https://trendingpoliticsnews.com/breaking-rand-paul-calls-for-the-arrest-of-ny-district-attorney-alvin-bragg-mace/

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See also:

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See also:

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See also: https://rumble.com/v2e47d4-what-ron-desantis-did-today-is-end-his-political-career-viva-and-barnes-on-.html
 
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…Bragg may be able to expect highly motivated judges and jurors in New York. However, the novelty and questions in this case would present difficult appellate issues for the prosecution.

— Jonathan Turley (@JonathanTurley) March 18, 2023


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See also: https://www.breitbart.com/politics/2023/03/18/legally-pathetic-jonathon-turley-shreds-alvin-braggs-potential-case-against-trump/


2023-03-21 b
THIS YEAR ...

... THE MANDARIN HORDE IS 
REPLACING THE MEXICAN HORDE?


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See also: https://www.westernjournal.com/fox-news-catches-biden-administration-releasing-chinese-illegal-immigrants-us-sparking-outrage/



2023-03-21 a
EXACTLY THREE YEARS AGO ...

... AND IT SEEMS LIKE YESTERDAY.
 .

While most of my knowledge of current affairs and what is newsworthy comes from reading or conversing with others, over the last couple of days I have endured the frantic alarms of the media by listening to their shrill voices.

First, I take comfort that they are displeased with us. They have been losing control of the central narratives and contrived explanations throughout this young century. The once mighty national networks and major print media are no more. The internet has indeed brought us the world, but the major players still speak with a statist accent and the lisp of the intelligence services of what a prescient analyst calls the Anglo-Zionists.


Source: http://www.usaapay.com/ar15/2020/03/21a.html

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Three years ago I called the enemies of humanity, Anglo-Zionists.
Today I speak their true names, Bolsheviks & Khazars.

2023-03-20 e
THE STATE OF THE DISUNION IX

PRAVDA ON THE POTOMAC?


2023-03-20 d
THE STATE OF THE DISUNION VIII

THE CLIMATE CON
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See also:


2023-03-20 c
THE STATE OF THE DISUNION VII

THE COVID-CON
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https://alexberenson.substack.com/p/please-stop-with-the-raccoon-dogs/comments

https://alexberenson.substack.com/p/urgent-bill-gates-the-worlds-most

https://www.americanthinker.com/articles/2023/03/the_looming_reckoning_for_covid_tyrants_in_milan.html

https://brownstone.org/articles/a-brief-history-of-stolen-lives/

https://brownstone.org/articles/censorship-masquerades-and-disinformation-control/

https://brownstone.org/articles/eye-protection-wasnt-misdirection/

https://brownstone.org/articles/no-cure-for-washingtons-arrogance/

https://brownstone.org/articles/rage-with-the-machine-stanford-law-and-sbv/

https://brownstone.org/articles/strict-safety-standards-for-cough-syrup-but-mrna-shots-get-a-free-pass/

https://brownstone.org/articles/the-day-the-sunrise-was-a-curse/

https://brownstone.org/articles/three-years-to-slow-the-spread-marked-the-advent-of-push-button-tyranny/

https://childrenshealthdefense.org/defender/fda-approves-fourth-covid-shot-infants-kids/

https://davidzweig.substack.com/p/denials-by-fauci-and-collins-of-supporting

https://disinformationchronicle.substack.com/p/how-congress-can-investigate-the

https://dossier.substack.com/p/3-years-to-slow-the-spread-covid

https://dossier.substack.com/p/covid-courage-and-cowardice

https://www.eugyppius.com/p/how-a-great-part-of-social-media

https://www.eugyppius.com/p/via-a-pilot-project-in-rheinland

https://www.express.co.uk/life-style/health/1747035/covid-variant-omicron-xbb15-kraken

https://flvoicenews.com/ladapo-no-one-should-take-terrible-safety-profile-mrna-vaccines/

https://greatgameindia.com/british-airways-pilot-collapses-and-dies-suddenly-before-flight/

https://gregrubini.substack.com/p/fauci-obama-virus

https://ianmsc.substack.com/p/cdc-received-concerning-private-reports

Massie Asks A Reasonable Question
Pertaining to GMOs and what we’ve learned about genetically engineering viruses.

“Should the results of the genetically engineered virus give us concern about genetically modifying seeds/food?”

The clear answer is yes, for the following reasons:
https://market-ticker.org/akcs-www?post=248342

https://petermcculloughmd.substack.com/p/central-venous-thrombosis-of-the

https://petermcculloughmd.substack.com/p/german-safe-and-effective-lie-collapsing

https://petermcculloughmd.substack.com/p/homelessness-and-hardiness-to-covid

https://petermcculloughmd.substack.com/p/young-pilots-heart-damaged-right

https://www.projectveritas.com/news/breaking-confidential-pfizer-documents-reveal-pharmaceutical-giant-had/

https://rairfoundation.com/germany-finally-recognizes-covid-vaccine-damage-video/

https://rumble.com/v2dqw1u-dr.-peter-mccullough-names-those-who-played-major-roles-in-covid-crimes-aga.html

https://rumble.com/v2dkzhc-dr.-peter-mccollough-reports-on-the-mrna-at-the-summit-for-truth-.html

https://rumble.com/v2dc8xm-germany-recognizes-covid-vaccine-damage-first-civil-lawsuit-will-go-to-cour.html

https://rumble.com/v2dmq0e-its-much-worse-than-you-think-govt-corruption-and-the-creation-of-covid-w-d.html

https://rumble.com/v2dlpi0-rfk-jr-the-pharmaceutical-companies-were-window-dressing-for-what-was-a-hug.html

https://rumble.com/v2d6jbs-robert-kennedy-jr-fauci-has-been-developing-bioweapons-since-2002.html

https://rumble.com/v2bqmxq-speech-vaccinologist-analyzes-pfizers-6-mon-trial-update-more-harm-than-goo.html

https://rumble.com/v2dksl6-the-amount-of-times-i-have-to-hear-safe-and-effective-is-disgusting-dr.-pie.html

https://rumble.com/v2dadym-the-pandemic-theater.html

https://rumble.com/v2dkve0-these-vaccines-saved-no-one-dr.-pierre-kory.htmlhttps://rumble.com/v2dkve0-these-vaccines-saved-no-one-dr.-pierre-kory.html

https://rumble.com/v2dl7am-why-wont-china-take-mrna-vaccines-because-they-are-bioweapons-designed-to-d.html

https://rwmalonemd.substack.com/p/information-wars-sars-cov-2-origin

https://sensiblemed.substack.com/p/the-cochrane-mask-fiasco

https://stevekirsch.substack.com/p/australia-government-numbers-confirm

https://www.theepochtimes.com/health/doctors-seeing-ocular-adverse-events-after-covid-19-vaccination-caution-possible-risks_5047558.html

https://www.thegatewaypundit.com/2023/03/robert-f-kennedy-jr-fauci-has-been-in-charge-of-developing-bioweapons-for-pentagon-since-2002-video/

https://choiceclips.whatfinger.com/2023/03/15/dr-harvey-risch-the-government-has-essentially-admitted-that-the-covid-vaccines-have-failed/

https://wherearethenumbers.substack.com/p/claims-the-unvaccinated-were-at-higher

https://www.zerohedge.com/covid-19/covid-19-vaccines-can-cause-permanent-disabilities-says-german-health-minister

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"This biopharmaceutical complex intentionally denied
all forms of early treatment in order to promote fear, suffering, hospitalization and death … to prepare the world to accept mass… https://t.co/OrGmDK6mE4 pic.twitter.com/rQs2SQFyDd

— The Vigilant Fox (@VigilantFox) March 18, 2023

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https://threadreaderapp.com/thread/1636729166631432195.html

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See also: https://trumpwhitehouse.archives.gov/briefings-statements/president-trump-awards-presidential-commendations-operation-warp-speed-team/

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THREAD: Dr. Anthony Fauci, the top-paid US federal employee, has developed bioweapons for the Pentagon since 2002. In 2014, Obama shut down 18 of Fauci’s gain-of-function experiments after lab leaks, and 300 top scientists complained about his dangerous bioweapons research. pic.twitter.com/PoG9ax5HRW

— kanekoa.substack.com (@KanekoaTheGreat) March 15, 2023

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2023-03-20 b
THE STATE OF THE DISUNION VI
(pride entry)

INSANITY OF TRANS-MANIA

Child rapist awarded $2.5 million settlement for trans surgery after Idaho prison withheld 'care' | The Post Millennial | https://t.co/UnOXM1l9cG https://t.co/ikZwNCJOuN

— Juanita Broaddrick (@atensnut) March 15, 2023

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2023-03-20 a
THE STATE OF THE DISUNION V

J6 FAKE INSURRECTION, SHOW TRIALS,
DC GULAG

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NEVER BEFORE SEEN FOOTAGE of Jake Angeli
(Q Shaman) on the phone w/ FBI after January 6th protests!

[PART 1]

"I'm a bold man. I believe in the truth.
I believe in my faith in God & country."#FreeJacobChansley @elonmusk @TuckerCarlson pic.twitter.com/Q3lPCRmThH

— Forbidden Truth Podcast (@Truth8Prevails) March 11, 2023

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Breaking: A video re-emerges of Jacob Chansley reading Trump’s tweet, telling protestors to "GO HOME" and remain peaceful. pic.twitter.com/dhJKYKrblT

— Becker News (@NewsBecker) March 10, 2023

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See also:

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See also:

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See also:
       https://www.politico.com/news/2023/03/09/classified-info-proud-boys-trial-00086357

        https://www.zerohedge.com/political/proud-boys-j6-sedition-trial-halted-after-leaked-chat-logs-show-fbi-agent-said-her-boss

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2023
-03-19 d
THE STATE OF THE DISUNION IV

WAS IT A DARK AND STORMY NIGHT WHEN
SOROS' BLACK DA DECIDED TO "GET" TRUMP?


*stormy *
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Robert Mueller investigated Trump over this alleged Stormy Daniels payment and found that Michael Cohen was NOT a credible witness and that there was NOT enough evidence to support charges.

Then, the leftwing SDNY looked into the https://t.co/SO1BKaONdKhttps://t.co/GC723QEdaM

— David Giglio (@DavidGiglioCA) March 18, 2023

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See also:
https://abcnews.go.com/Politics/exclusive-pence-prospect-trump-arrest-politically-charged-prosecution/story?id=97926661

https://www.breitbart.com/politics/2023/03/18/conservatives-rally-around-donald-trump-following-arrest-prediction-we-live-banana-republic/


https://breannamorello.substack.com/p/exclusive-manhattan-da-sends-out

https://www.denverpost.com/2018/01/31/stormy-daniels-donald-trump-never-happened/

https://jewishinsider.com/2021/04/alvin-bragg-jerry-nadler-endorsement-manhattan-da/

https://newswithviews.com/porn-star-stormy-daniels-legal-action-against-trump-is-deep-state-plan-b/


https://nypost.com/2018/01/30/stormy-daniels-now-denies-ever-having-an-affair-with-trump/

https://pjmedia.com/news-and-politics/robert-spencer/2023/03/19/hold-everything-now-trump-will-likely-not-be-arrested-at-least-on-tuesday-n1679641

https://redstate.com/jenvanlaar/2023/03/18/new-manhattan-da-braggs-email-to-employees-in-anticipation-of-trump-arrest-n718517

https://www.thegatewaypundit.com/2023/03/advice-to-trump-supporters-considering-protesting-his-expected-arrest-next-week-from-an-experienced-conservative-street-activist/

https://www.thegatewaypundit.com/2023/03/bill-clinton-paid-paula-jones-850000-in-hush-money-was-never-charged/

https://www.thegatewaypundit.com/2023/03/breaking-its-all-bs-now-it-looks-like-president-trump-will-not-be-arrested-tuesday/

https://www.thegatewaypundit.com/2023/03/identity-of-mondays-surprise-witness-testifying-before-ny-grand-jury-revealed-president-trump-says-witness-will-supposedly-present-conclusive-and-irrefutable-evidence-clearing-him/

https://www.thegatewaypundit.com/2023/03/soros-backed-da-bragg-not-smart-enough-this-made-up-crime-smells-like-another-weissmann-special/

https://thehill.com/homenews/house/3906624-republican-lawmakers-blast-potential-trump-indictment-as-politically-motivated-abuse-of-power/

https://thepostmillennial.com/kevin-mccarthy-pledges-to-investigate-outrageous-abuse-of-power-by-nyc-da-alvin-bragg-over-potential-trump-indictment

https://therightscoop.com/breaking-ex-michael-cohen-attorney-set-to-testify-monday-with-new-exculpatory-evidence-that-could-vindicate-trump/

https://tomrenz.substack.com/p/trumps-arrest-and-the-second-american


https://www.westernjournal.com/dick-morris-trump-walking-trap/

https://www.yahoo.com/entertainment/stormy-daniels-denies-affair-donald-trump-never-happened-010513645.html



2023-03-19 c
THE STATE OF THE DISUNION III

THE BUILD BACK BOLSHEVIK BANKING
HOLOCAUST WILL INCREASE THIS MONTH


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David Stockman on Washington’s Panicked Bailout of Bank Deposits… Here’s What Comes Next

Why would you throw-in the towel now? We are referring to the Fed’s belated [make-believe] battle against inflation [fueled by Biden's energy scarcity policies] which evidences few signs of having been successful [because this is not demand-driven inflation] .

Yet that’s what the entitled herd on Wall Street is loudly demanding. As usual, they want the stock indexes to start going back up after an extended drought and are using the purported “financial crisis” among smaller banks as the pretext.

Well, no, there isn’t any preventable crisis in the small banking sector. As we have demonstrated with respect to SVB and Signature Bank, and these are only the tip of the iceberg, the reckless cowboys who were running these institutions put their uninsured depositors at risk, and both should now be getting their just desserts.

To wit, executive stock options in the sector have plunged or become worthless, and that’s exactly the way capitalism is supposed to work. Likewise, on an honest free market their negligent large depositors should be losing their shirts, too.

After all, who ever told the latter that they were guaranteed 100 cents on the dollar by Uncle Sam? So it was their job, not the responsibility of the state, to look out for the safety of their money.

If the American people actually wanted the big boys bailed out, the Congress has had decades since at least the savings and loan crisis back in the 1980s to legislate a safety net for all depositors. But it didn’t for the good reason that 100% deposit guarantees would be a sure-fire recipe for reckless speculation by bankers on the asset-side of their balance sheets; and also because there was no consensus to put taxpayers in harms’ way in behalf of the working cash of Fortune 500 companies, smaller businesses, hedge funds, affluent depositors and an assortment of Silicon Valley VCs, founders, start-ups and billionaires, among countless others of the undeserving.

And for crying out loud, forget this baloney about the bailouts aren’t costing taxpayers a dime because they are being paid for by the banks via insurance premium payments to the FDIC fund. Well, yes, when the Congress wants to disguise a tax they call it an “insurance premium”, as if its victims had the choice to elect coverage or not. But when $18 trillion of deposits are being assessed in order to bailout careless large depositors who paid no attention to what was happening to their money, then that’s an onerous tax by any other name.

Accordingly, Washington’s panicked bailout of $9 trillion of uninsured deposits held by big and small companies, hedge funds and affluent customers over the weekend was therefore nothing less than a gift to the undeserving. And now we find out the two banks that have been explicitly funded 100% by Uncle Sam—SVB and Signature Bank—were deep into woke investing and conduct. That makes the bailout by Janet Yellen & Co. especially galling.

For crying out loud, this is how the poison of wokeness and ESG spread like wild-fire among American businesses in the first place. The latter should have ordinarily been a bulwark of conservative values and common sense, but years of ultra-easy money from the Fed and the precedent of bailout-after-bailout since the 1980s allowed top executives to take their noses off the grindstone of safe and sustainable profitability in favor of a purely political agenda.

In any event, inflation is still raging and wage workers are still taking it on the chin. During February real wages dropped for the 23rd consecutive month. So the Fed needs to stay on its anti-inflation playbook, come hell or high water. That means it needs to keep raising rates until their after-inflation level is meaningfully positive, which is not yet remotely the case.

Indeed, unlike Tall Paul Volcker back in the late 1970s, who inherited 10-year Treasury yields at -2.0% and raised them to +10% over the next several years, real interest rates are still deeply underwater as we show below. The cries to stop the rate increases, therefore, are just damn nonsense.

In fact, in any sane world these are not even “increases”. They are long overdue normalization of interest rates that have been absurdly pinned to the zero bound for upwards of a decade.

And the Fed most certainly should not throw in the rate increase towel owing to a Wall Street proclaimed “crisis” in the small banking sector. That’s the long-standing wolf cry of the entitled class of speculators decamped in the digital canyons of Wall Street.

Yes, regional banks were playing fast and loose with depositor money, but even the biggest of these did not amount to a hill of beans in the great scheme of the nation’s $25 trillion GDP. As we showed a few days ago, both the recently departed SVB and Signature Bank each accounted for barely one-half of one percent of the nation’s $30 trillion of banking system assets.

If a few more local and regional banks need to be closed, therefore, so be it. Sooner or later the piper has to be paid.

Y/Y Change In Real Hourly Earnings, March 2021 to February 2023

For want of doubt, here is the pattern of the annual rate of change in the two-year stacked CPI. During the 18 months after January 2021 it soared from 1.9% to 7.1%. Yet notwithstanding the Fed’s purported anti-inflation campaign since March 2022, there has been no meaningful retreat from the June 2022 peak. That is, when you take the “base effects” out if the equation, it is clear that the CPI has been stranded at 40-year high levels at 7.0% ever since.

Annual Change, Two-Year Stacked CPI:

  • January 2021: 1.9%;
  • June 2021: 2.9%;
  • January 2022: 4.5%;
  • June 2022: 7.1%;
  • July 2022: 6.8%;
  • August 2022: 6.7%;
  • September 2022: 6.8%;
  • October 2022: 7.0%;
  • November 2022:7.0%;
  • December 2022: 6.8%;
  • January 2023: 7.0%;
  • February 2023: 7.0%

Nor is that the extent of the inflationary warning signs in the February CPI report. For example, plunging used car prices and the rollover of asking rents were supposed to be saving the day, bringing the headline CPI rate rapidly back toward the Fed’s 2.00% target.

But it’s not happening—-at least in the real world. On the matter of used vehicles there is nothing more authoritative than the Manheim used car auction index. But this real world index is going back up again, even as the green eyeshades at the BLS insist that used vehicle prices are still going down.

Manheim Used Vehicle Index Change Versus CPI Used Vehicle Index

  • One Month (February): +4.3% vs. -2.8%;
  • Three Months: +7.8% vs. -5.3%;
  • Six Months: +2.0% vs. -11.0%

Eventually, of course, the BLS will make revisions and adjustments to catch-up with the real world, meaning that the purported anti-inflation impact of used car prices will soon turn into a booster shot.

Likewise, the CPI shelter index for February was up at a near record 0.8% on a M/M basis and 8.1% from last February. As is evident from the chart, this component—which accounts for 24% of the weight in the headline CPI and 40% of the core CPI—is still accelerating, not cooling.

Change In CPI Shelter Index, Month/Month (Purple) and Year/Year (Black), 2021 to 2023

As we have previously noted, the argument that “asking rents” fell sharply during the back half of 2022 and that the CPI is therefore mis-reporting rent increases doesn’t wash. That because “asking rents” on new contracts account for just 1/12 of the rental market at best, and the reported numbers from private real estate companies are not seasonally adjusted.

As is evident in the chart below, rental rates always go down during the fall, and then come roaring back in the spring and early summer. In fact, right on schedule the February report by the Apartment List was back in positive territory.

In any event, what the CPI shelter index captures is the rolling increase in the total rent roll, not just the new contracts executed during the current month. And that means for the balance of this year at least—even if the overall housing market continues to weaken– average rents will be significantly higher on a year-over-year basis.

Finally, there was one further component in the February report that makes a mockery of the claim that the CPI is fixing to cliff-dive and that the Fed can therefore take its foot off the neck of the Wall Street gamblers. To wit, upwards of 60% of the CPI is accounted for by services less energy services, and this component was up 7.3% on a Y/Y basis, marking the largest such gain in 41 years!

So the Fed needs to keep its nose to the anti-inflation grindstone. It is not yet even close to turning the tide.

Y/Y Change In CPI For Services Less Energy, 2000 to 2023

As to the matter of imprudently managed banks, isn’t it finally time that all parties concerned–including large depositors—are made to pay the price for their feckless and reckless indifference to financial risk?

As a reminder, the unfolding of financial markets during 2022 was a screaming wake-up call that mis-matched bank portfolios were a train wreck waiting to happen. After all, last year the 30–year UST tanked by 39.2%, marking the greatest one-year decline since, well, 1754!

Likewise, the 10–year UST fell by 17.8%, another record vaporization of value. That’s why, of course, unrealized bank portfolio losses went from $15 billion in Q4 2021 to a staggering $650 billion in Q4 2022. And no one was hiding the ball—every dime of these potential losses were reported in the quarterly SEC filings.

Yet, and yet, bank executives and uninsured depositors sat on their hands because these soaring risks were not running through the income statement and thereby causing bank stock prices to fall even further. The whole theory behind this greatest ever outbreak of benign neglect was that all of the impacted Treasury and Agency securities generating these potential losses would be held to maturity and repaid in full.

Alas, that predicate was valid only to the extent that uninsured depositors sat on their hands permanently, and that imprudent folks like Peter Thiel and Ken Griffin would never yell “fire in the theater”.

They did, of course, and then the even greater fools in Washington enacted a $9 trillion deposit guarantee during the course of panicked deliberations in the White House Sunday afternoon.

So now that $18 trillion worth of US bank deposits have been totally euthanized economically by the geniuses in Washington, how do you stop bank managements from running wild on the asset-side of their balance sheet?

After all, they have already been making ungodly sums of money by mismatching their balance sheets, and now its Katie-bar-the-door.

Indeed, the Signature Bank fiasco is a poster boy for the art of minting fake profits off dangerous balance sheets. Not far below the surface we find the same old bank failure culprit: Namely, dirt cheap deposits thanks to the Fed, mismatched with substantially higher yielding but problematic assets.

Thus, in 2022 Signature Bank earned an average of 3.11% on its $114.3 billion of earning assets, while its cost of funding was just 0.88% on its $103.4 billion of deposits. In dollar terms, the assets generated $3.56 billion of gross income, while the bank paid out just $0.913 billion on its deposits.

Alas, if this were the widget business the above figures would amount to a sterling gross margin of 74%. And the resulting $2.54 billion of net interest margin wasn’t eaten up by SG&A, either. Net operating expense/fee income amounted to just $700 million, making Signature Bank an apparent goldmine in 2022

Yet just like that it was gone!

The reason is that its income statement was way too good to be true. The bank primarily catered to business operations in law, real estate and other professional services. Accordingly, like the case of SVB, fully 90% of its deposits base was not FDIC insured mom and pop savings accounts, but consisted of the working cash balances of its client firms.

At the same time, $70.2 billion of its $114.3 billion of earning assets were in commercial loans, mortgages and leases, which accounted for $2.80 billion of its $3.56 billion in gross income, owing to an average 4.0% yield on this part of the portfolio.

So at the heart of the operation was a 4% asset yield matched with a 0.88% deposit cost. And also a highly illiquid, sticky asset book (e.g. taxi medallion loans and low income housing mortgages) matched with deposits which were potentially hot and mobile, should its uninsured depositors ever get nervous and take flight.

They did, and in a New York minute the Signature Bank profits machine vaporized. And that’s to say nothing of its fixed income book which was drastically underwater owing to last year’s fixed income market bloodbath.

The only thing missing from Signature Bank’s financial picture is that it was not one of the 30 too-big-to-fail SIFIs (systemically important financial institutions), which were given a backdoor guarantee of uninsured depositors by Dodd-Frank. Then, like JP Morgan, its deposit costs would have been even cheaper and its fake profits even more fulsome.

As of 6:15 Pm Sunday night, of course, every bank now has the 100% safety net for uninsured deposits. This means that the 5,000 still living banks will have every opportunity to ignore their depositors and play even more artificial and remunerative games by mismatching their assets and liabilities.

Stated differently, banks have been way the hell too profitable thanks to the Fed’s insane financial repression and the rampant moral hazard of the bank regulatory and deposit insurance schemes. The top half dozen or so SIFI banks have actually booked more than $1 trillion of net income in the last eight years exactly because the geniuses in Washington have back-stopped and drastically cheapened their deposit carry costs.

The stock answer to all this from Washington and Wall Street alike is not to worry because new powers to the bank regulators will keep the cowboys from gestating more SVBs and Signature Banks.

Well, here is what Michael Barr, the top bank regulator on the Federal Reserve Board, had to say last Thursday morning when the fire at SVB was already raging:

 “The banks we regulate, in contrast, are well protected from bank runs through a robust array of supervisory requirements.”

Or, as Elon Musk might have said, funding secured!

So at the end of the day there is no preventable financial crisis. What there is amounts to a systematic financial travesty that goes back to the hideously low money market regime that the Fed maintained since the eve of the financial crisis back in 2008, coupled with the evil of deposit insurance, both de jure and de facto.

The implicit policy of the Federal Reserve, as measured by the inflation-adjusted level of its target Fed funds rate, has been to blow-up the banking system by flooding it with dirt cheap deposit costs.

In fact, during the 180 months since Lehman there have been only seven months when the real rate was positive; and even then it was positive by just a hair as depicted by the blue bars peeking above the zero line in the chart below during early 2019.

Inflation-Adjusted Federal Funds Rate, 2008-2023

Likewise, it should be evident by now that deposit insurance has nothing to do with either sound money or a prudent banking industry. It has remained in place for decades because it is a social policy-–protection of the little guy—parading as a financial stabilization measure.

But it doesn’t stabilize—it inherently and egregiously de-stabilizes, as has been implicit in every financial crisis during the last half century.

So if they want “social policy” for the little guy and the blue-haired ladies, give these folks access to a $250,000 government savings account paying 50 basis points of interest as far as the eye can see. For every one else, let them be the watch-dogs of their own money in the commercial banking system.

That’s the very predicate of a stable banking system and sustainable free market prosperity. (read more)


2023-03-19 b
THE STATE OF THE DISUNION II

THE BUILD BACK BOLSHEVIK ELIMINATION
OF MORAL HAZARD HAS BEEN DECREED

SVB + FTX + SBF = WTF?

“Deny, deflect, minimise & mock your enemies questions. Don’t engage them in good faith, they’re attacking you with a view to undermining you. Don’t fall for it. Don’t give them an inch.”
— Aimee Terese on Twitter


      The net effect of all the lying propaganda laid on the public by the people running things lo these many recent years is a peculiar inertia that makes us seemingly impervious to gross political shocks. Momentous things happen and almost instantly get swallowed up by time, as by some voracious cosmic amoeba that thrives on human malignancy. Case in point: the multiple suicide of several giant banks just days ago that prompted “Joe Biden” to nationalize the US banking system.

     As if all the operations around finance in this land were not already unsound and degenerate enough, the alleged president just cancelled moral hazard altogether. It’s now official: from here forward there will be no consequences for banking fraud, poor decision-making, fiduciary recklessness, self-dealing, or any of the other risks attendant to the handling of other people’s money. Bailing out the Silicon Valley Bank and Barney Frank’s deluxe Signature Bank means that the government will now have to bail out every bank every time something goes wrong.

     The trouble, of course, is that the government doesn’t have the means to bail out every bank. Its only resort is to ask the Federal Reserve to summon new money from a magic ether where the illusion of wealth is conjured to paper-over ever greater fissures in the splintering matrix of racketeering that America has become. That will quickly translate into US dollars losing value, that is, accelerating inflation, which is how nature punishes you when your government lies and pretends that it has a bad situation well-in-hand.

     Be advised: the situation is not in-hand and is going to get a whole lot worse as new and subsidiary shocks thunder through the weeks and months ahead, until the whole wicked business blows. Likewise, the reactions of our government will only get more tragi-comically pathetic. The harder this gang of feckless, wannabe control freaks pretends to control events, the faster events spin out of control.

     Money dies when it loses its direct connection to the generation of wealth from the real things of this earth: fuels, crops, metals, materials, labor, and the value-added products made from them. Since that divorce has already happened, the need arises for something else that can function as money (a store of wealth, an index of value, and a medium of exchange). The government will pretend that a Central Bank Digital Currency is that something else. Since banking is now nationalized by the Federal Reserve backstopping everything and everybody, then theoretically all the wealth of the nation is under its command. That would be another illusion.

    This CBDC would not be “money” representing wealth because America’s wealth is going, going, gone, pissed away, falling apart, de-laminating, oxidizing, rusting in the rain, going up in a vapor. Think of all those mortgaged cars on the road racking up the mileage until they’re worthless and all those mortgaged suburban houses built out of particle-board and vinyl smeared all over the landscape, decomposing into their constituent chemicals — over time, a dead loss. And that’s what’s left of our American Dream: coldcocked by entropy and, by extension, the laws of the universe. The CBDC would just be a computerized tracking apparatus for zombies lurching pointlessly around that dead zone… a final insult. The CBDC is already DOA, only the CB doesn’t know it.

     One big mistake so many commentators and observers are making takes us back to the matter of cancelled moral hazard, and of consequence in general: it is the failure to appreciate how much disorder will manifest from the farrago of mindfuckery and misconduct we’ve been subjected to. By which I mean things stop working, including the elemental things like your ability to get food, fix whatever breaks, and keep the lights on.

      The potential disorder is why our government will probably not be able to fix itself. The disorder may go on for quite a while, but eventually the survivors will synergetically fix their circumstances themselves working in-step with the emergent mandates of reality. Having lived through a reality-optional period of history, it will come as an ecstatic shock to learn that the world requires us to pay attention to what is really happening and to act accordingly. We’ll find ways to get food, make some things work, and shine some lights in the darkness, if perhaps not by means we’re familiar with now.

     In the meantime, expect more disordering tragi-comedy from the “Joe Biden” led psychotic regime ruling over us with its drag queen commissars, lawless Lawfare vandals, race hustlers, agents provocateurs, informers, censors, prosecutors, inquisitors, jailers, and propagandists — the worst collection of imbeciles, grifters, and villains ever assembled into political party. (read more)


2023-03-19 a
THE STATE OF THE DISUNION I

THE SPIKE PROTEIN HOLOCAUST'S
EXCESS DEATHS WILL INCREASE THIS YEAR



The Blackpill of Blackpills

I just had a revelation today that was both stunning and heartbreaking.

I just found out that every single person I know personally, in my small circle of friends, people I'd chat casually with, and people I worked with professionally, ALL got the poke 'n smoke.  Every single one of them.

Now I'm not going to disparage anyone who got the jab because I'm still a proponent of personal choice.  Take ten clot shots.  Smoke some crystal meth.  Get a tattoo of a miniature 'Mona Lisa' on your peen.  Get ass raped by a donkey.  I don't give a damn.  It's your body.  Do whatever the fuck you want with it.

No, the reason this was pretty disheartening is because a fair chunk of these people I'm speaking of were HUGE mouthpieces when it came to defying the 'gubmint', yapping about personal liberty, and basically spitting in the fan.  A lot of them were people who actually got me redpilled on how the world 'really works' many, many years back.  Some were gun owners,  some were so-called 'molon labe' tacticool people, but generally all just folks I thought were ahead of the curve.  These are people I thought saw things the way I did - some of them actually did.  I thought these people would hold out, like I did.  Not submit.  

Turns out, I was wrong.  Turns out, in the end, they were all full of shit.  Every one of those people, in spite of their talk about 'black helicopters', the 'New World Order', the 'Blue Helmets' coming to take everyone's guns, and all that other alarmist crap, all ended up being nothing more than LARPing sheeple.  In spite of knowing about all this bullshit, and all their talk about 'prepping' and 'training' and the dreaded 'apocalypse', all it took was the government to scare everyone with a flu bug and it was enough to get them to surrender their most fundamental rights and liberties, roll up their sleeve, and allow themselves to be jabbed with an experimental serum in which the contents and the effects on the human body aren't even fully known - despite the fact that we're seeing a massive uptick in deaths and injuries related to this jab.

The scam-demic, the jab, the mandates....all of that was a litmus test.  THAT was the red line.  And in the end, everyone I know personally submitted.  I was once skeptical about the government's claims that '85% to 90% of Canadians' had gotten the poke.  I thought they were lying about their numbers as a way to further coerce holdouts to give up and get the jab.  Not now, though.  I actually think, for once, they were probably telling the truth.  I have no trouble at all believing those numbers, in light of what I have come to find out today.

"Half the people"??  Not in Canada...try A LOT MORE

Perhaps, at the end of the day, none of us are the people we thought we were.  Maybe that's the real lesson to be taken in from the scam-demic.  It truly is the mother of all 'blackpills'.  You see, I don't believe the scam-demic brought out the 'best' or 'worst' in people.  It simply took off the mask.  It forced everyone to take a good, long look in the mirror.  It brought out the latent characteristics in people that were already there all along.

Society, as we know it, really is just a veneer.  A facade.  An idea.  Nothing more than that.

I can't speak for anyone else, not that I would have ever done so in the first place, but there's nothing more for me to do now except stay the course.  I still won't get the jab or do anything else these bastards tell me to do.  I won't let them do anything to hurt my kids, even though the events that are now set in motion have essentially guaranteed them an extremely difficult future.  I understand now that I can't really rely on anyone else to help out with this, but you know...that's the way it was all along.

Perhaps that is the reason I survived something that is pretty much guaranteed to kill people.  Most people do not survive aortic dissections.  Maybe the reason I did was so that I could continue to help prepare my kids to survive in the hell on earth that the current generation, and the ones before us, did our part in creating.  All because we were afraid...and lazy...and weak.  Because we wanted to take the easy way out and live life for today, at the expense of tomorrow.  Because we felt entitled to.

No matter.  Even for me, a guy who resisted the mandates and the jabs at great personal cost...I, too, am not the man I was.  My faith in my country, my faith in institutions, even my faith in the people around me is all but destroyed.  I'm at the point now where I honestly don't see the point in 'mass resistance' or 'prepping' anymore.  At this point, and this might just be the blackpill talking, I don't think there's much left to save that's actually worth saving. 

Don't get me wrong, I will STILL resist.  I will STILL fight back.  But I won't do it for any other reason than to fuck with the people doing this.  Not because I expect to achieve any semblance of victory.  Not because I want to 'inspire' other people to fight back.  Especially not because I have any inherent love or respect for things I used to hold dear.  No.  I'll fight back for no other reason than because I hate the people who have engineered all this and I hate what they've done to everything.  I'll spit in their faces, just out of spite.  I'll end up being just an angry, bitter 'old guy' (at the ripe old age of 44), just like Glen Filthie or BCE.  I'll be the internet's version of the crazy sandwich board guy on the street corner, I guess.

But I have no illusions of a group of people 'rising up' and fighting back.  No 'grand revolutions' of sort.  I mean, the people who have historically done those kinds of things, that being the political left, are the ones in charge of everything now.  Let's be real here: if the people who fell for the scam-demic, got the jabs, complied with the mandates and so on....for whatever their reasons were....if they weren't willing to stand up against that, then why would they stand up for anything else?  Why wouldn't they allow the police to enter their homes to search for firearms or whatever else the government deems as 'contraband'?  Why not allow their phones and electronic devices to be scrutinized on a whim from law enforcement?  Why not allow their government to impose a Social Credit System, intricately linked to a Central Bank Digital Currency that they can freely deny usage of to anyone they see fit on a whim?  Why wouldn't they simply give up ALL their freedom whenever ordered to?

The answer is: there's no reason not to think that.  Our opportunity to 'rise up and resist', if it was ever there to begin with, has already passed.  It's too late for that horseshit.  The people who valued liberty - all of us - were tested.  And we fucking failed, whether by act or omission.  What's coming is going to come, regardless of what anyone says or does at this point.

Not much else we can do about it but wait....and take a bite out of the shit sandwich we've been served. (read more)

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2023 ARCHIVE

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2022 ARCHIVE

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2021 ARCHIVE


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2020 ARCHIVE

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