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20 Signs That Show That The U.S. Economy Is Starting To Fall Apart Very Rapidly
With Biden in office, America’s southern border has vanished entirely.
https://mexicanoccupation.blogspot.com/2022/06/is-joe-bidens-open-borders-destroying.html
So, while we in America are getting a fair number of sex traffickers; mountains of fentanyl; low skilled, illegal workers who drive down wages; and more welfare mouths to feed, the Latin Americans who come here mostly want to work and mostly hew to traditional western, Christian values. ANDREA WIDBURG
BIDENOMICS - The Massive Transfer of Wealth to the Rich and Wall Street and Then Illegals Get Our Jobs to Keep Wages Depressed.
https://mexicanoccupation.blogspot.com/2022/06/the-fool-in-white-house-biden-economy.html
Old Joe Biden has been a liar his entire public life, from his plagiarism in law school and on the presidential campaign trail to his lies about the accident that killed his first wife and the innumerable lies he has told while pretending to be president. It is no exaggeration to say that Joe Biden is one of the most untrustworthy men on the planet. On Friday he reinforced that reputation with a major speech on the May jobs report, in which he had the breathtaking audacity to say that the smoking ruin of an economy over which he is presiding, and which his far-Left policies created, is actually doing great. Maybe if we tilt our heads and squint, we’ll be able to see it.
VIDEO OF THE END
Chris Hedges | American Republic IS DEAD
THE DEMOCRAT PARTY OF BRIBES SUCKERS AND THEIR PARASITE BANKSTERS
https://mexicanoccupation.blogspot.com/2022/06/joe-bidens-paymasters-at-blackrock.html
Jesse Watters: The Biden family business
https://www.youtube.com/watch?v=NjCflVde7Gs
VIDEO
Ralph Nader: Biden's First Year Proves He Is Still a "Corporate Socialist" Beholden to Big Business
https://www.youtube.com/watch?v=2jTIUtjkDss&t=28s
Hauser also didn’t like the prevalence of Big Law talent
on the Department of Justice team, which signaled to
him that the Biden administration could go soft on
corporate malefactors. Alexander Nazaryan
Ben Shapiro: Joe Biden's Economy Is a Disaster
By Ben Shapiro | June 15, 2022 | 4:57pm EDT
This week, the stock market took a turn into bear territory on the heels of yet another brutal monthly inflation report. With the Federal Reserve considering larger rate hikes in order to tamp down record inflation, the possibility of a near-term recession now looms quite large, despite the feeble protestations of Treasury Secretary Janet Yellen. As former Clinton Treasury Secretary Larry Summers — the man who predicted President Joe Biden's inflation — stated, "I think when inflation is as high as it is right now, and unemployment is as low as it is right now, it's almost always been followed, within two years, by recession."
All of this was perfectly predictable. Firehosing money into an already-hot economy was a recipe for inflation — and yet that was precisely the policy pursued by the Federal Reserve and the Biden White House. According to The Wall Street Journal, the Biden White House and the Fed thought that the post-COVID-19 period would follow the 2007-2009 pattern: "weak demand, slow growth, long periods of high unemployment and too-low inflation." This was incontestably preposterous. The 2020 economic crash was not the result of systemic flaws in the economy like the 2007-2009 subprime mortgage crisis; it was the result instead of an artificially induced economic coma, supported by an unprecedented infusion of government cash, preceded by a historic economic boom.
This meant that when vaccines became available, when Americans headed back to work, when children went back to school, we should have been poised for an explosion in demand. To instead predict weak demand, and to build an extraordinary framework of continuing fiscal and economic stimulus on that basis, was an act of either total insanity, epic stupidity, or purposeful malice. Perhaps it was a combination of all three. As the Journal observed, "many Democrats saw their control of the White House and Congress as a rare opportunity to shift Washington's priorities away from tax cuts favored by Republicans and toward expensive new social programs." Or, as Biden himself put it this week, "I don't want to hear any more of these lies about reckless spending. We're changing people's lives!"
They sure are. It turns out that "experts" in the back room constructing a supposedly better world rarely consider the possibility of unpredicted side effects. They are so busy building glass castles in their minds that they neglect the realities of human behavior. The result is generally that those the "experts" seek most to help are actually those harmed the most.
But the Biden White House refuses to change course. Instead, they insist that the American people are too foolish to understand just how good they have it; that the answer is more government spending; that the Federal Reserve, whose loose monetary policy prompted the current price spiral, will magically draw the proper balance between rising interest rates and low unemployment.
The real answer to America's current economic woes is simple, and the same as it ever was: Leave Americans alone. Stop pumping money. Stop subsidizing boondoggle projects directed at bolstering political allies. And stop pretending that our supposed intellectual superiors have the ability to predict, control, and boost an economy comprised of 330 million citizens, all of whom are better qualified to make decisions for themselves than an incompetent and incoherent president and his unjustifiably arrogant lackeys.
Ben Shapiro, 38, is a graduate of UCLA and Harvard Law School, host of "The Ben Shapiro Show," and Editor-in-Chief of DailyWire.com. He is a three-time New York Times bestselling author; his latest book is "The Authoritarian Moment: How The Left Weaponized America's Institutions Against Dissent."
VIDEO
20 Signs Of The Staggering Decline Of The American Middle Class Family
We just got more evidence that the middle class is being systematically destroyed in America. At this point, millions of people out there have already grown accustomed to barely scraping by from month to month. But that is not what being “middle class” is supposed to be about. Middle-class families should be able to make more money than they have to spend on everyday necessities because is only by doing so that they can build long-term wealth. Unfortunately, income growth has not kept up with the pace of the rising cost of living, and millions of households have taken massive amounts of debt. At the same time, the labor market doesn't offer good-paying jobs that support middle-class life, and the lack of these positions has been contributing to the decline of this income group all across the country. In the early 1970s, the middle class accounted for around 60 percent of the population, but now middle-income households are rapidly becoming a minority in the United States. And as economic conditions continue to deteriorate, millions of hard-working families all over America are being stretched financially like never before. “In America, the middle class can no longer afford retirement. Middle-class Americans face sharp economic inequality, with ownership of financial assets highly concentrated among the wealthy,” explained Tyler Bond, NIRS research manager. “Now that we have a retirement system largely built around the individual ownership of financial assets in 401(k) accounts, middle-class Americans are struggling to accumulate sufficient financial assets during their working years. This means the retirement outlook for many in the middle class is bleak at best.” Since the onset of the health crisis, the U.S. economy has been decaying at an alarming pace. Over the past two years, the middle class has gotten smaller and smaller in this country, and now it seems that another economic downturn is upon us once again. So many families are already living on the edge right now. Recent surveys have exposed that well over 50% of the population is living paycheck to paycheck and that most Americans don't have emergency savings or a financial cushion to fall back on. When you are living on the edge, there is always a danger that you could fall over. Since 2020, we have never seen so many middle-class Americans falling straight into poverty. In other words, unless dramatic changes happen in America, the middle class is going to be absolutely eviscerated in the next decade. We must wake up now. The middle class is dying right before our eyes, and if we want to save it, we must take action now. Today, we compiled a series of new numbers that expose the rapid downfall of the U.S. middle-class.
Inflation in L.A. Falls ‘Disproportionately on the Working Class’
President Joe Biden came to Los Angeles to take a victory lap Friday, claiming — falsely — that “core inflation” had declined, as the effects of 8.6% inflation fell “disproportionately on the working class” in the L.A. metro area, according to a local economist.
As Breitbart News reported, Biden delivered a speech at the port facility, where a cargo crisis last fall threatened supply chains and raised inflationary pressures. He claimed, wrongly, that inflation is down if gas and food prices are excluded:
“Inflation outside of energy and food, what the economists call core inflation, moderated the last two months,” Biden said. “Not enough, but it moderated, it’s come down and we need it to come down much more quickly.”
…
But month-to-month core inflation in May was actually at 0.6 percent, the same percentage as it was in April.
…
Biden blamed Russian President Vladimir Putin for the high rate of inflation.
Despite Biden’s claims, the burden of inflation is one that even traditionally Democratic voters in L.A. cannot ignore. The L.A. Times reported:
The Biden administration has been under pressure to reassure Americans that inflation won’t reel out of control. The most recent numbers seemed to upend that hope, with prices rising for goods across the board, led by sharp jumps in the costs of energy and groceries.
In a metro area as large as Los Angeles with an economy driven by low-wage work, the effects of inflation — especially gas prices — fall disproportionately on the working class, said Leo Feler, a senior economist at the UCLA Anderson Forecast.
Annual inflation in the L.A. metro area, which includes Los Angeles and Orange counties, clocked in at 8% in May. San Diego saw 8.3%, while the Riverside metro area, which includes Riverside and San Bernardino counties, saw a 9.4% inflation rate.
Biden touted the government’s efforts to ease the cargo crisis by threatening to penalize companies that left shipping containers on the docks. However, these were simply replaced by outgoing containers that were not removed for months.
And though Biden promised to move the ports at Los Angeles and Long Beach to 24/7 operations, they could not find enough workers willing to work the overnight shifts. The cargo crunch did ease somewhat, helped by China’s coronavirus lockdowns, which slowed shipping traffic to and from the manufacturing giant. But a new surge is expected soon.
Food Banks Fight To Keep Doors Open Amid Record Inflation, Demand
Food pantries are struggling to remain open as inflation drives increased demand for food distribution and raises operating costs, the Associated Press reported.
The record inflation seen in recent months has led massive numbers of people across the country to seek out food banks rather than brave sticker shock at the grocery store. Officials at multiple food distribution organizations told the AP they've been swamped by the demand for food.
"In the last few months, with this increase in inflationary pressures, we're seeing 95 percent of our 200 member food banks saying that they have seen either leveling or an increase in need," Claire Babineaux-Fontenot, CEO of Feeding America, a national food bank network, told the AP.
At one church food pantry in Washington state, demand for food rose 40 percent between December and March, Eric Williams, an official with a local food bank supplier, told the AP. Food banks and suppliers are also struggling with the rising cost of food, which is up 9.4 percent from last year, according to the latest Consumer Price Index report. Williams said the price his organization pays per pound of produce has nearly doubled in a year.
Inflation has also forced some food pantry partners of Feeding America either to shut down or provide less food.
"Our network emphasizes access and equity," Babineaux-Fontenot told the AP. "So we are working extra hard to reach people who have the deepest food insecurity rates. Well, how far out can we go when gas prices are high?"
Food pantries are also having to make up for a decrease in donations.
"Compared to last year at this time, we're about 50 percent down in what we have received in the past in federal food donations and then about 20 percent down from food drives in our collection of food at the grocery stores," the executive director of an Ohio food bank network told the AP. "All of that combined is truly having an impact on our budget because we're needing to purchase more food outright."
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