Move over China Joe. Comrade Joe has made his appearance on the national stage, declaring, “That’s how capitalism works,” a reference to the banking “crisis” he created and his people knew was coming.
This is what happens when the Biden Administration inflates the currency, the Federal Reserve raises interest rates too fast, and banks like SVB are caught in the middle.
By the way, none of this had anything to do with the “Trump deregulation” of banks or the “woke” character of one bank. It’s due to a Soviet-style economic policy designed for a federal takeover of a federal banking system of about 1,200 national banks which also threatens the financial survival of regional and community banks that number in the thousands and serve millions of Americans.
So-called “conservatives” ranting about a “bailout” of the depositors, who need and deserve their money back, are missing the point. They are mostly small and medium-sized firms and small businesses which put their money in that bank and are creating new products and technologies. One of them, Roku, has pioneered streaming services for new conservative channels that enable people to bypass Fox News.
These companies should not be punished for the inflationary policies of Comrade Joe Biden and the destructive interest rate policies of the Fed.
Future historians will look back on the implementation of Modern Monetary Theory and be compelled to rename it the Dark Age Monetary Theory. Why? Because that’s where the world will reside. It’s the DEBT, stupid.
Some believe poverty is merely a stepping-stone to something greater; the glass is half full. And if that’s the case, we are purposely creating mountains of boulders; with no glass in sight.
Think about the term “Demand Destruction” and the fact that demand destruction is the Federal Reserve’s stated mandate to fight inflation. The same inflation they created to wipe out the debt they also created. Put in layman’s terms, it means “Wreck-It Ralph,” your everyday Americans will pay the price of our insane greedy policies… again.
President Biden said that anyone making less than $400,000 per year would not get a dime more in taxes… now a lie. Apps of all sorts are already asking for your banking information. Note… the banking information is getting reported by payment apps and other online sites such as Etsy, Marketplace, and OfferUp. As you read further, understand what is not being revealed. The IRS is using private corporations to aid them in reporting personal information about you. Getting a 1099 could easily put you in a higher tax bracket just because you collected dues from team members, sold an old umbrella, or work on the side selling a potholder you knitted.
FNC: Americans who made money online this year could be in for a potentially brutal shock when they file their taxes in 2023.
That’s because, beginning next year, taxpayers must report to the IRS transactions of at least $600 that are received through payment apps like Venmo, PayPal and Cash App.
In an explainer posted online last month, the IRS warned small business owners about the $600 threshold for receiving Form 1099-K for third-party payments exceeding $600.
Third-party payment processors will now be required to report a user’s business transactions to the IRS if they exceed $600 for the year. The payment apps were previously required to send users Form 1099-K if their gross income exceeded $20,000 or they had 200 separate transactions within a calendar year.
The Biden Green agenda will soon destroy the nation, there is no dispute. Having a war on fossil fuel is one thing but being so derelict when it comes to diesel is destructive beyond description. It is also evil and deadly to citizens, businesses, and national security.
In 2021, the Biden White House published a trucking fact sheet endorsing the trucking industry. But it omits the real issues facing the industry and that includes regulations and the ridiculously high cost of diesel.
There was to be some kind of a listening session. In part: DOL and DOT will kick off listening sessions with drivers, industry and labor leaders, and advocates to hear their perspectives, profile promising practices, and source scalable solutions to retention and job quality issues for truckers. The first events in this series are happening today in South Carolina with Secretary Buttigieg, Deputy Administrator Joshi, and representatives from DOL and at the White House co-chaired by Secretary Buttigieg, Secretary Walsh, and National Economic Council Director Deese.
Now, facing November with the midterm elections and the coming holidays… the White House is flat-footed on the diesel crisis.
The Biden administration says it is keeping a close watch on diesel inventories and working to boost supplies following news that reserves have been depleted and could run out in less than a month if not replenished, sparking fears of shortages and rising prices.
The Energy Information Administration (EIA) reported this week that, as of Oct. 14, the U.S. had only 25 days of reserve diesel supply, a low not seen since 2008. National Economic Council Director Brian Deese acknowledged to Bloomberg that the level is “unacceptably low,” and “all options are on the table” to address the situation.
The EIA also said that distillate fuel includes heating oil inventories and is about 20% below the five-year average for this time of year. But areas in the Northeast are already rationing heating oil as temperatures drop, driving concerns that energy costs will surge further. source
Diesel fuel is used for many tasks
Diesel engines in trucks, trains, boats, and barges help transport nearly all products people consume. Diesel fuel is commonly used in public buses and school buses.
Diesel fuel powers most of the farm and construction equipment in the United States. The construction industry also depends on the power diesel fuel provides. Diesel engines can do demanding construction work, such as lifting steel beams, digging foundations and trenches, drilling wells, paving roads, and moving soil safely and efficiently.
The U.S. military uses diesel fuel in tanks and trucks because diesel fuel is less flammable and less explosive than other fuels. Diesel engines are also less likely to stall than gasoline-fueled engines.
Diesel fuel is also used in diesel engine generators to generate electricity. Many industrial facilities, large buildings, institutional facilities, hospitals, and electric utilities have diesel generators for backup and emergency power supply. Most remote villages in Alaska use diesel generators as the primary source of electricity. source
The US economy cannot run and sustain itself without the essential work of truck drivers. Their deliveries affect every industry we depend on like food, construction, medicine, fuel, and retail. Apart from day-to-day needs, truck drivers ensure first responders and healthcare workers have the tools they need to save lives. more here
What will skyrocketing energy prices mean for U.S. consumers this winter? Seniors, the poor, those living paycheck to paycheck will suffer most. But all will suffer.
The effect of these increases — the lack of trickle-down economics — seems pretty obvious. Unless someone powerful gets this administration to sweep the deck of climate radicals, people will needlessly die. All will suffer.
On his first day in office, President Biden shut down the Keystone XL pipeline, closed Alaska’s reserves (ANWR), canceled offshore leases, and imposed massive new regulatory burdens on firms that distribute clean natural gas and petroleum products that contribute to every aspect of American life.
When gas prices skyrocketed earlier this year, the administration began draining the Strategic Petroleum Reserve to historically (and dangerously) low levels. This has temporarily kept prices in check, but only because of the midterm elections. After the midterms, if the radicalized EPA isn’t reined in, we should prepare for $8 gas, minimum. If Democrats retain power, we are in for a succession of long, dark winters.
If left unchecked, this “progressive” administration will touch off — needlessly — a second Great Depression.
"Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration in its early stages dating back to the end of World War II"https://t.co/Nkj4JzL5b9pic.twitter.com/44XYBS3MB6
Biden and his allies have been blocking oil refinery capacity for decades, as I document here, and then gas-lighting the public about ithttps://t.co/HdRkDA7uD4
“If you were an oil company, why would you invest hundreds of millions of dollars into expanding refining capacity if you thought the federal government or investors would shut you down in the next few years? The narrative coming from the administration is absolutely insane.” pic.twitter.com/qfziNhvcrU
BRUTAL: Bloomberg’s Jonathan Ferro cornered Brian Deese on national television, refusing to let him talk his way out of answering if the Biden Admin asked OPEC+ to delay cutting output to help Democrats in the midterms: pic.twitter.com/qPSzDQDKMT
The good news is Joe Biden found a way to reduce your energy bill. “New England Risks Winter Blackouts as Gas Supplies Tighten” https://t.co/EwuxW90lSZ
As we approach Halloween, let’s think about unleashing a hungry Vampire on the beast known as Big Government.
On Monday, the big news was that the tax cuts being proposed by the new British Prime Minister Liz Truss were being somewhat scaled back because they might “favor the rich.” This is a Marxist line of attack.
Yet, Stephen K. Bannon was on his “Real America’s Voice” show trashing Truss for proposing tax cuts in the first place. He called her proposal a “ridiculous unfunded massive tax cut.” His guest, Steve Cortes, agreed.
They were echoing the liberal news outlets and the IMF about the “unfunded” nature of those tax cuts.
Look at the headlines:
IMF gives damning verdict on Britain’s tax cuts — CNBC.
Fiscal fisticuffs: the week the IMF attacked Britain’s tax cuts — Financial Times.
IMF openly criticizes UK government tax plans — BBC News.
Truss U-turned on tax cuts for the super-rich – now she can axe the rest of her disastrous budget – London Guardian.
The UK scraps a proposed tax cut for the wealthy that sparked market turmoil – NPR.
“In a stunning reversal,” declared Fox Business, “Britain’s Conservative government dropped a key part of the tax cuts package that sparked outrage, market turmoil and sent the pound plunging.”
The left-wing Media Matters declared, “British currency has been plummeting due to investor fears that the Truss tax cuts, and the resulting borrowing needed to recover the lost revenue, will worsen inflation in the U.K., which already stands at 10%.
This is a concrete example of the power of the globalists that Bannon and others claim to oppose.
Since when it is supposed to be “unfunded” to return money to the people? It’s the people’s money to begin with. How can money in the hands of the people be “lost” to the government?
The Marxist assumptions in such talk are that the government has a claim to your living standards and that your money belongs to them. That’s the Marxist principle of confiscating and eventually abolishing private property to create an all-powerful state.
PELLEY: It’s the highest inflation rate, Mr. President, in 40 years.
BIDEN: I got that. But guess what we are. We’re in a position where for the last several months it hasn’t spiked. It has just barely, it’s been basically even, and in the meantime, we’ve created all these jobs, and prices have gone up, but they’ve been down for energy. The fact is that we’ve created 10 million new jobs, we’re in since we came to office, we’re in a situation where we, the unemployment rate is up at 3.7 percent, one of the lowest in history, we’re in a situation where manufacturing is coming back to the United States in a big way, and look down the road, we have massive investments being made in computer chips and employment, so I, look, this is a process, this is a process.
Inflation is the top political concern for voters right now, and according to a recent poll, 59 percent of voters who name inflation as their top concern plan to vote Republican in November. “This is a process” is not likely to persuade them out of that choice.
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Is it a process to allow China to have access to limitless investment in the United States in the form of real estate, technology, education, and social media to list a few? Seems so –>
Knowledge at Wharton: How has the tech sector in China been able to develop so quickly?
Fannin: Some of it has to do with venture capital investment. And some of that venture capital investment has come from Sand Hill Road [Silicon Valley], funded by our pension funds, our universities, our endowments, our family offices. But I also think a lot of it has to do with China’s own entrepreneurial culture. It’s innovating very fast. It’s moving very swiftly. They are working nonstop. China’s entrepreneurs and the tech sector are just very ambitious. It’s unstoppable.
Knowledge at Wharton: “Social” seems to be a key word when talking about the Chinese economy. Are e-commerce and social media playing big roles in China’s becoming such an influential global player?
Fannin: Social commerce is all about online shopping and sharing and prizes and games. It’s a business model that we really don’t have in the U.S. Social commerce has come on very strong. There is a [group-buying platform] called Pinduoduo, which went public in New York last year and has gone on to become one of these tech giants in just three years’ time. They are already China’s second-largest e-commerce player, and they’ve developed this whole new business model around social commerce.
In Memoriam
Available at Amazon.com 
