THE DOCTRINE OF THE N.A.F.T.A. GLOBALIST DEMOCRATS IS TO SERVE THE BILLIONAIRE CLASS WITH ENDLESS WAVES OF INVADING 'CHEAP' LABOR SUBSIDIZED WITH WELFARE FUNDED BY TAXES ON MIDDLE AMERICA.
In many speeches, Mayorkas says he is building a mass migration system to deliver workers to wealthy employers and investors and “equity” to poor foreigners. The nation’s border laws are subordinate to elites’ opinion about “the values of our country,” Mayorkas claims.
Saturday, July 2, 2022
JOE BIDEN DESTROYS THE AMERICAN ECONOMY AS FAST AS HE DESTROYED AMERICA'S BORDER - Summers: Risk of Recession in 2022 Is ‘Significantly Higher’ Than It Was Six, Nine Weeks Ago
Stocks Tumble into the Worst First Half in over 50 years
Wall Street racked up more losses for stocks Thursday, as the market closed out its worst quarter since the onset of the pandemic in early 2020.
The S&P 500 fell 0.9 percent, its fourth consecutive drop. The benchmark index is now down 21 percent since it hit an all-time high at the beginning of the year. It entered a bear market earlier in June.
All told, the S&P 500′s performance in the first half of 2022 was the worst since the first six months of 1970.
“And in 1970 there was a solid rebound after that first half decline,” said Lindsey Bell, chief markets and money strategist at Ally Invest. “This time around, the impact of the Fed, the impact of inflation and the uncertainty of where growth goes from here is really weighing on investors’ minds. … We just don’t know when the clouds of uncertainty are going to start to clear.”
The market’s steep decline this year has all but wiped out its gains from 2021, what was a banner year for the market as it emerged from its previous bear market in early 2020.
Rising inflation has been behind much of the slump for the broader market this year as businesses raise prices on everything from food to clothing and consumers are squeezed tighter. Inflation remains stubbornly hot, according to a series of recent economic updates.
The Federal Reserve and other central banks have been aggressively raising interest rates to try and slow economic growth in order to cool inflation. Higher rates can bring down inflation, but they also risk a recession by slowing the economy too much. They also push down on prices for stocks, bonds, cryptocurrencies and other investments.
“What the market is trying to assess is when does it seem as if the Fed is going to have what it needs to ascertain that inflation is plateauing,” said Quincy Krosby, chief equity strategist for LPL Financial.
The S&P 500 fell 33.45 points to 3,785.38 Thursday. It lost 16.4 percent in the April-June quarter, its biggest quarterly decline since it slumped 20 percent in the first three months of 2020, when the pandemic upended the global economy in a matter of weeks.
The Dow Jones Industrial Average fell 253.88 points, or 0.8 percent, to 30,775.43. The Nasdaq slid 149.16 points, or 1.3 percent, to 11,028.74.
Small company stocks also fell. The Russell 2000 lost 11.38 points, or 0.7 percent, to 1,707.99.
The yield on the 10-year Treasury, which helps set mortgage rates, fell to 3.01 percent from 3.09 percent late Wednesday.
Technology companies were among the biggest weights on the market, as investors continued to favor utilities and other traditional defensive stocks. Apple fell 1.8 percent, while Exelon rose 2.2 percent.
Retailers and other companies that rely directly on consumer spending also posted some of the biggest losses, as they have all year. Amazon slipped 2.5 percent and Best Buy shed 2.9 percent.
Investors got another update on inflation Thursday. A measure of inflation that is closely tracked by the Fed rose 6.3 percent in May from a year earlier, unchanged from its level in April. The report from the Commerce Department also said that consumer spending rose at a sluggish 0.2 percent rate from April to May.
The update follows a worrisome report earlier this week showing that consumer confidence slipped to its lowest level in 16 months. The government has also reported that the U.S. economy shrank 1.6 percent in the first quarter and weak consumer spending was a key part of that contraction.
The situation has become even more complicated following added supply chain problems because of COVID-19 lockdowns in China and Russia’s invasion of Ukraine. The war in Ukraine prompted a surge in oil prices this year that resulted in record high gasoline prices.
The OPEC oil cartel and allied producing nations decided Thursday to increase production of crude oil, but the amount will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy.
“There’s no doubt this has been a difficult two quarters for the market, the U.S. economy, the U.S. consumer, and for the Fed’s job to control and curtail inflationary pressure,” Krosby said. “And yet, as we get into the beginning of the second half, so far companies have been managing and it’s the guidance they offer that is going to help set the tone over the next couple of weeks.”
Summers: Risk of Recession in 2022 Is ‘Significantly Higher’ Than It Was Six, Nine Weeks Ago
During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that the risk of a recession this year “are significantly higher than I would have judged six or nine weeks ago.”
Summers said, “I think you have to say that whatever you thought about recession risks a month ago, the recession risks through the year 2022 have to have gone up in a quite material way. I felt for a long time, as you know, David, that we’re not going to have inflation return near target without a significant economic downturn. But that downturn could happen either because interest rates set by the Fed rise very, very sharply or it could happen because of a kind of self-fulfilling process coming out of the high inflation and reductions in people’s incomes. And the latter possibility is looking like — is looking more likely today than it was.”
He added, “I think the risks of a 2022 recession are significantly higher than I would have judged six or nine weeks ago.” And “I think you have to say that the chance that a recession [that’s] ultimately dated as having begun during 2022 has gone up significantly.”
A Texas woman is in jail after allegedly forcing migrants to remain in her home while she made them work to pay off debts owed to human smugglers. The incident came to light as one of the migrants attempted to escape from her home.
Police in Round Rock, Texas, received a call on June 22 from a woman reporting a burglary at her home. When police arrived they determined the woman was holding a Honduran migrant in her home and forcing him to work to pay off debts owed to human smugglers, according to a police affidavit reported by KVUE. The man reportedly owed a debt of $9,200 to smugglers who brought him from Mexico into Texas.
Police arrested Mariana Salgado, 48, and took her to the Williamson County Jail where she is being held on a charge of Smuggling of Persons. Bond is set for $7,500, according to jail records obtained by Breitbart Texas.
The Honduran migrant reportedly made arrangements with Salgado to be smuggled into Texas. The fee for the smuggling arrangement was $9,200, according to the affidavit. Salgado and her husband reportedly picked the migrant up in San Antonio and took them to their home in Round Rock — north of Austin in Central Texas.
Delgado allegedly told the man he was not allowed to leave until he finished paying off the debt. A girlfriend of the Honduran national reportedly paid $5,200 on his behalf. The man also worked by installing cabinets to earn $350. That money reportedly went directly to Salgado’s husband as a debt payment. The man earned approximately $120 per day for the work which went to repay the debt, KXAN reported.
Officials found three other migrants in the home who were also being forced to repay debts for human smuggling. All owed the same amount as the Honduran man — $9,200. Salgado reportedly paid the fee in advance to the coyotes who brought them into Texas from Mexico.
The Honduran man attempted to escape from his captivity on another occasion. At that time, people who allegedly worked for Salgado found him hiding by a convenience store and forced him into a vehicle. They returned the man to Salgado’s home.
Salgado also forced the migrants to turn over their identification documents which she held until the debts were paid, the affidavit explained.
A search of the home uncovered detailed records in a spiral notebook. The records tracked the debts and payments owed by the migrants.
The Honduran man told police he had been in the home for about a month. He said he slept in the living room. He said he owned nothing but his identification documents and two watches.
Salgado remains in custody on human smuggling charges.
Eagle Pass, Texas — Del Rio Sector Border Patrol agents apprehended 1,772 migrants after they crossed the Rio Grande in a single day in Eagle Pass. The steady stream of migrants apprehended after crossing the river included one group numbering more than 500. On Thursday, the number of apprehensions exceeded any other single day total for the city according to the source.
A source operating under the umbrella of U.S. Customs and Border Protection told Breitbart Texas that Del Rio Sector agents lead the nation of late in apprehensions. The source said the increase in apprehensions is forcing the agency to deal with constant overcrowding at processing facilities. More than 2,000 migrants were arrested on Thursday throughout the Del Rio Sector — most chose to enter the United States in Eagle Pass.
The task of transporting the migrants from the apprehension point near the Rio Grande to a soft-sided processing center is stretching transportation resources to the breaking point. In addition, the source says the need to provide medical and humanitarian care along with processing the migrants mean most Border Patrol agents are not on routine field patrol, leaving the border wide open.
The CBP source, who is not authorized to speak to the media, told Breitbart Texas most of the encounters on Thursday were single adult migrants. In the largest group of migrants arrested, more than 400 of the 528 members of the migrant group were single adult males and females. The group was comprised of migrants from 14 different countries.
Nearly half of the group consisted of Venezuelan nationals. More than 150 migrants were from Cuba. More than 100 members of the groups were from Colombia, Peru, Nicaragua, Iran, the Dominican Republic, Ecuador, Chile, Honduras, Guatemala, Panama, and Mexico.
The source says the Border Patrol is seeing a flow of migrants from all parts of the world and has apprehended migrants in Eagle Pass from more than 100 unique countries this year. Arresting migrants from dozens of different countries each day has been the norm for the agency, according to the source.
Randy Clark is a 32-year veteran of the United States Border Patrol. Prior to his retirement, he served as the Division Chief for Law Enforcement Operations, directing operations for nine Border Patrol Stations within the Del Rio, Texas, Sector. Follow him on Twitter @RandyClarkBBTX.
Convicted Illegal Alien Serial Killer, Accused of Killing 25 Elderly Americans, Indicted for Four Murders
Billy Chemirmir, a 48-year-old illegal alien accused of murdering 25 elderly Americans and convicted of murder this year, has been indicted for the murders of four of those Americans in Collin County, Texas.
In April, Chemirmir was convicted of murdering 81-year-old Lu Thi Harris, just one of his alleged 25 elderly victims. He is accused of murdering the victims, stealing from them, and then selling their belongings online from April 2016 to April 2018.
Chemirmir is believed to be Texas’s deadliest serial killer.
Now, Chemirmir has been indicted by Collin County prosecutors for four of the murders. The victims in the murder indictments are 90-year-old Marilyn Bixler, 79-year-old Diane Delahunty, 93-year-old Mamie Miya, and 82-year-old Helen Lee.
Lee was previously unnamed in the case.
“These indictments should serve as a reminder that every victim of a violent crime deserves to have their case investigated and prosecuted, and Collin County law enforcement and prosecutors will work every day to hold violent offenders accountable,” Collin County District Attorney Greg Willis said in a statement.
The Angel Families released a statement, writing:
We the families and loved ones of Marilyn Bixler, Diane Delahunty, Helen Lee, and Mamie Miya are grateful to hear of today’s four additional capital murder indictments. These indictments are another step in holding Billy Chemirmir accountable for the full extent of his horrible crimes. We’d like to thank police and prosecutors for listening to us, and for their continued efforts to see that justice is done for all the victims and their loved ones. [Emphasis added]
Chemirmir was previously indicted in Collin County on five counts of capital murder and two counts of attempted capital murder. The cases are pending and Chemirmir is set for trial in October.
Chemirmir’s conviction in April came after his initial murder trial in Dallas County was declared a mistrial when one juror on the 12-member jury ensured that the case’s verdict remained “hopelessly deadlocked,” according to the jury.
Aside from Harris, Chemirmir has been linked to 24 other victims:
83-year-old Leah Corken
82-year-old Juanita Purdy
88-year-old Mary Brooks
84-year-old Minnie Campbell
82-year-old Ann Conklin
75-year-old Rosemary Curtis
85-year-old Norma French
92-year-old Doris Gleason
81-year-old Carolyn MacPhee
81-year-old Miriam Nelson
91-year-old Phyllis Payne
94-year-old Phoebe Perry
80-year-old Martha Williams
82-year-old Joyce Abramowitz
87-year-old Glenna Day
89-year-old Solomon Spring
90-year-old Doris Wasserman
86-year-old Margaret White
79-year-old Diana Delahunty
93-year-old Mamie Dell Miya
86-year-old Catherine Probst Sinclair
90-year-old Marilyn Bixler
An 81-year-old “Jane Doe”
82-year-old Helen Lee
Soon after Chemirmir’s arrest in May 2019, Breitbart News exclusively reported that Chemirmir, born in Kenya, first arrived in the U.S. on a B-2 tourist visa in July 2003. Though Chemirmir was supposed to only temporarily be in the U.S., he overstayed his visa and became an illegal alien, eligible for deportation.
Chemirmir’s expired United States visa. (Photo via Dallas County District Court)
Chemirmir’s Kenyan passport documentation. (Photo via Dallas County District Court)
Rather than being deported — which would have made him ineligible to ever secure legal status in the U.S. — Chemirmir was able to use a loophole in the nation’s legal immigration system, allowing him to obtain a green card after marrying an American citizen. In November 2007, Chemirmir was approved for a green card.
Chemirmir had a criminal record, Breitbart News exclusively learned, including convictions for drunk driving, trespassing, assault, and obstructing a police officer.
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.
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