European Union Inflation Hits Record 8.6 Percent for All Nations Using the Euro

European Union Inflation Hits Record 8.6 Percent for All Nations Using the Euro

It is interesting to remember the recent comments from Christine Lagarde, the president of the European Central Bank, who outlined the EU energy crisis as the heart of the current inflation rate in the eurozone.  Lagarde discussed inflation in Europe while drawing a distinction in COVID-19 spending between the EU and U.S.

Essentially, according to Legarde, the EU subsidized businesses to maintain employment; the EU covered payroll expenses during lockdowns, while the U.S. sent direct payments to the American people who were impacted by the lack of work (basically everyone).

Lagarde outlined this difference in spending approach to explain why the Eurozone inflation was less than U.S. inflation.

How long did that EU Central Bank explanation hold up? Approximately two months.

The U.S. inflation rate is currently estimated at 8.6%, and today the eurozone inflation rate just reached,…. wait for it,…  Yep, an exact match at 8.6%.

LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine.

Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May, according to the latest numbers published Friday by the European Union statistics agency, Eurostat. Inflation is at its highest level since recordkeeping for the euro began in 1997.

Energy prices rocketed 41.9%, and prices for food, alcohol and tobacco were up 8.9%, both faster than the increases recorded the previous month.

Demand for energy has risen as the global economy bounced back from the depths of the COVID-19 pandemic and Russia’s invasion of Ukraine made things worse.

European Union leaders agreed to ban most Russian oil imports by the year’s end, driving a price spike. The 27-nation bloc wants to punish Moscow and reduce its reliance on Russian energy, but it’s also adding to financial pain for people and businesses as utility bills and prices at the pump soar. (read more)

Keep in mind, the EU and the U.S. are both chasing the climate change energy shift as dictated by the World Economic Forum in the Build Back Better program.

If you factor in the dramatic impact in both the EU and the U.S. from energy policy; and then if you calculate the COVID-19 spending as a percentage of the GDP from both economies; what you will discover is the direct similarity that creates the 8.6% inflation match.

The EU spent less on their COVID-19 programs. However, as a percentage of their economy they spent about the same as the U.S.

Joe Biden spent more, but the U.S. economy is bigger than the combined eurozone.

The inflation hitting the EU is almost identical to the inflation hitting the U.S. because the Russian energy sanctions are almost identical in impact to the EU energy sector as Joe Biden’s energy policy (a blockage on energy development) is to the United States.

The current similarity in the inflation rate between the U.S. and EU is specifically because politicians in both regions followed the exact same instructions from the World Economic Forum.

The outcome is ironically a global synergy as the economies of the EU and USA start to collapse.

None of this is accidental.  All of this economic turmoil is running on an identical track -on a global basis- because the entire western plan was coordinated and followed.  What we are seeing right now is the outcome of the “Build Back Better” roadmap.  The “global inflation” is the outcome.

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Sunday Talks, South Dakota Governor Kristi Noem Discusses Abortion Trigger Law in Aftermath of Supreme Court Ruling

Sunday Talks, South Dakota Governor Kristi Noem Discusses Abortion Trigger Law in Aftermath of Supreme Court Ruling

ABC News Martha Raddatz confronts South Dakota Governor Kristi Noem about state abortion rules, limits and restrictions in the aftermath of the Supreme Court ruling overturning Roe and returning the legal decision surrounding abortion to the states.

Ms Raddatz is a pro-death advocate who decries any possibility that an unborn child, including an unborn female child, has a right to live.  Ms. Noem handled the combative interrogation with political aplomb.  WATCH: 

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Sunday Talks, Michigan Governor Whitmer Decries Abortion Ruling, Laments that Michigan State Legislature Affirms Abortion Limits

Comrades, this is quite a remarkable interview if you stand back away from the issue and just look at the context.  Michigan Governor Gretchen Whitmer appears on CBS Face the Nation to discuss abortion in the aftermath of Supreme Court overturning Roe.  The legal aspects for any abortion restriction now return to the state legislature and representatives closest to the people.

Comrade Whitmer is repeatedly asked what she can do to keep abortion available without limit.  In her responses Whitmer notes that her opinion on the issue is not held by the state legislature and lawmakers, as a result there’s not much she can do.  Gretchen Whitmer is admitting her view is not the view of the people in her state, yet she vows to continue fighting against the will of the people.  WATCH:

[Transcript] –  …”GOV. WHITMER: What I’m trying to fight for is the status quo in Michigan and there are reasonable restrictions on that. With the current legislature that I have, there is no common ground, which is the sad thing.” (read more)

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Democrat Rep Maxine Waters Promotes Insurrection, Says Rulings from the Supreme Court Should be Defied by Opposition

Democrat Rep Maxine Waters Promotes Insurrection, Says Rulings from the Supreme Court Should be Defied by Opposition

The same representative who advocated for violence against President Trump cabinet members, appeared in front of the Supreme Court today to advocate for defiance against the constitutional limitations on government power.

Maxine Waters (California CD-43) represents the outlook of the radical leftists in her emotional reaction to the Supreme Court ruling that lets states decide what laws should be in place to limit the killing of unborn babies.   Ms Waters specifically cited and called for the defiance of “black women” in opposition to the ruling.  Her proclamations make evil and twisted sense from the perspective of the abortion industry, as unborn black babies are disproportionately killed by abortion providers.  WATCH:

The Centers for Disease Control and Prevention (CDC) documented in its Abortion Surveillance report for 2015 – released on Nov. 23, 2018 – that while black Americans comprise 13.4% of the U.S. population, they accounted for 36.0% of the abortions in 2015.  Black women have three times the rate of abortion as white women, and that higher abortion rate is consistent even after you filter the control data to remove income from the issue {link}.

The number one customer for abortion services are young pregnant black women.  This was also the target audience identified by Margaret Sanger the founder of Planned Parenthood and an avowed racist.  The racial roots of Planned Parenthood go back to the founding.

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Manufacturing Index Drops Far Below Expectations – Biggest Single Month Drop Since 2020 Pandemic Impact

Manufacturing Index Drops Far Below Expectations – Biggest Single Month Drop Since 2020 Pandemic Impact

U.S. inflation was/is driven by supply side impacts as a result of policy (Build Back Better).  The U.S. recession was/is now driven by demand side impacts that are the result of increased supply side costs.  This is the natural economic truth being denied by all levels of political leadership.

Joe Biden policy makers, specifically the U.S. treasury secretary and the federal reserve chairman, have claimed -falsely- that current inflation was/is being driven by demand. In essence, and ironically, their position means consumers are to blame for high prices.  This has been their story and they have stuck to it.  However, remember monetary policy can only impact the demand side of the economy.  Monetary policy cannot impact the supply side, that aspect is led by Joe Biden policy.

The Federal reserve, having denied (pretended) the supply side causation, has effectively raised interest rates (0.75%) into an economic environment where consumer demand was already contracting.  CTH has been asserting this fundamental position all year.   Here is the evidence:

US Manufacturing PMI fell dramatically to 52.4 in June 2022 from 57 in May.  This drop is well below the market and economic expectations of 56, and now points to the slowest growth and steepest drop in factory activity in almost two years.  Contractions in output and new orders are pushing the index down.

Production and new sales declined for the first time since the depths of the pandemic in mid-2020 driven by weak consumer demand.  Inflation and a drop in wholesale and retail purchases have lowered purchase orders.  The gears inside the economy are slowing to a halt.

Look at the PMI trendline and you can clearly see what we have been discussing on these pages since March of 2021.   Consumer demand has been dropping in direct proportion to the dramatic rise in inflation (consumer prices).

At the exact moment that U.S. inflation began spiking in housing, energy, fuel and food, consumer demand for non-essential purchases, durable goods, started dropping.  This is a natural outcome that mirrors your own experience in checkbook economics.

When food, fuel and energy cost you more, you stop buying stuff and start prioritizing.

Following the path of the “build back better” agenda, the U.S. version called “Green New Deal,” meant the Biden administration had to continue denying that any demand side contraction was taking place.   However, it is clear from the indexes under the control of purchasing managers that orders for factory goods have been dropping.

The same is true on the services side of the PMI.  Demand for services are being prioritized, and demand for non-essential services are dropping.

The U.S. economy is contracting.  Denial abounds.

FXStreet – The S&P Global Manufacturing PMI plunged to 52.4 (flash) in June from 57 in May, missing the market expectation of 56 by a wide margin. This report revealed that the business activity in the manufacturing sector expanded at a much weaker pace in early June than it did in May.

Further details of the publication revealed that the Composite PMI declined to 51.2 from 53.6, compared to analysts’ estimate of 53.7.

Commenting on the data, “the pace of US economic growth has slowed sharply in June, with deteriorating forward-looking indicators setting the scene for an economic contraction in the third quarter,” said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. (more)

The White House will blame Russia.

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Absolutely Stunning DC Corruption – State Dept Appoints Blackrock Investment Chairman Tom Donilon, a Deep China Biden Insider, to U.S. Foreign Policy Board

Absolutely Stunning DC Corruption – State Dept Appoints Blackrock Investment Chairman Tom Donilon, a Deep China Biden Insider, to U.S. Foreign Policy Board

The conflict of interests is simply off-the-proverbial charts here.   Tom Donilon is a deep DC swamp operator and has been for his entire career.  Donilon is connected to every tentacle of the Obama and Biden administrations.  Donilon is also the Chairman of the BlackRock Investment Institute.

We have written about the conflicts {Go Deep Here} and {Go Deep Here}, but this move by Secretary of State Anthony Blinken is stunningly fraught with serious conflicts of interest.

Donilon’s literal job description at Blackrock is to “leverage the firm’s expertise and generate proprietary research to provide insights on the global economy, markets, geopolitics and long-term asset allocation,” and the State Dept has just appointed him as Co-Chair of the U.S. foreign policy advisory board.

Specifically, the Biden administration has just put Blackrock Investment Institute Chairman Tom Donilon in charge of U.S-China policy.

How in the proverbial hell can this be permitted?  That’s way beyond a rhetorical question.   The Dept of State has selected a team of Wall Street control agents to guide global U.S. policy.

(STATE DEPT) – Today, Secretary Blinken announced his selections for the U.S. Department of State’s Foreign Affairs Policy Board.

Since its establishment in 2011, the Board has provided independent advice on the conduct of U.S. foreign policy and diplomacy, consistent with each Secretary of State and administration’s evolving priorities for it.

Secretary Blinken has sought to build a diverse board that could advance the Department’s efforts to better root American diplomacy in the needs and aspirations of the American people. With expertise at the intersection of foreign and domestic policy, the Board will focus on the issues of increasing importance to the lives and livelihoods of Americans in the decade ahead, including cybersecurity and emerging technologies, climate and energy, international economics, global health, and strategic competition with the People’s Republic of China. (read more)

Tom Donilon has been appointed Co-Chair of this foreign policy group.

Pictured above BlackRock Investment Institute Chairman Tom Donilon (former National Security Advisor to President Obama), celebrating an international collaboration with China’s Chairman Xi Jinping

(JUNE 2021) BlackRock, Inc. (together with its subsidiaries) is a massive publicly traded multinational investment firm with over $8.68 trillion in assets under management [December 31, 2020 financial statement] in more than 100 countries across the globe.

To say that Blackrock is invested in globalism, climate change and leftist politics, would be a severe understatement {See Here}.  Larry Fink is the CEO and people like Cheryl Mills, Hillary Clinton’s attorney of record, are on the board.

Inside BlackRock there is a division called the BlackRock Investment Institute (BII) {See Here}.

Essentially the role of the BII is to tell BlackRock what is going to happen around the globe, and be the tip-of-the-spear in directing BlackRock where to invest money by predicting political events.

The Chairman of the BlackRock Investment Institute is Tom Donilon, President Obama’s former National Security Advisor (before Susan Rice), and a key advisor to Joe Biden throughout his career in politics.

You cannot get more deeply connected in the swamp financial schemes than Tom Donilon.

Donilon has been in/around government for 35+ years, deeply connected.  Before joining the Obama administration Donilon was a registered lobbyist from 1999 through 2005 for O’Melvney & Myers. {Bio Here} Tom’s sole client was Fannie Mae.  Fannie Mae is a government-backed private corporation that sells mortgages to investors.

Donilon took the lobbying gig because he was previously Executive Vice President for Law and Policy at Fannie Mae where he was responsible for Fannie Mae’s legal, regulatory, government affairs, and public policy issues.  Tom Donilon’s BlackRock Biography reads like a who’s-who of connections to the swamp {READ HERE}

♦Tom Donilon’s brother, Mike Donilon is a Senior Advisor to Joe Biden {link} providing guidance on what policies should be implemented within the administration.  Mike Donilon guides the focus of spending, budgets, regulation and white house policy from his position of Senior Advisor to the President.

♦Tom Donilon’s wife, Catherine Russell, is the White House Personnel Director {link}.  In that position Donilon’s wife controls every hire in the Office of the Presidency.

♦Tom Donilon’s daughter, Sarah Donilon, who graduated college in 2019, now works on the White House National Security Council {link}

So let me just summarize this….  The Chairman of the BlackRock Investment Institute, the guy who tells the $8.7 trillion investment firm BlackRock where to put their money, has a brother who is the Senior Advisor to Joe Biden; has a wife who is the White House Personnel Director; and has a daughter who is now on the National Security Council.

Put another way… Tom Donilon’s literal job description for BlackRock is to: “leverage the firm’s expertise and generate proprietary research to provide insights on the global economy, markets, geopolitics and long-term asset allocation,” and his wife is in charge of White House personnel, his brother is Senior Advisor to the President, and his daughter is on the National Security Council.  He has just been put in charge of U.S-China policy by the State Dept.

You seeing this?

Conflicts, insider trading, influence and insider information much?

So now the question becomes, WHY?

Here is the answer – March, 2022:

When CTH outlined the ‘Destination Handbasket’ framework {Go Deep}, we had no idea Blackrock CEO Larry Fink was essentially going to confirm the premise of our prediction.  Keep in mind, any digital currency can only work if there is a digital identity attributed to it – what some have called a digital passport which then creates a crypto wallet.

I have based the framework, of what appears to be over the horizon, on a set of inevitable geopolitical outcomes if the current path is continued.  The letter by Blackrock CEO Larry Fink [LINK] seems to affirm the strongest likelihood of a western-inspired digital currency eventually replacing the dollar.

NEW YORK, March 24 (Reuters) – BlackRock Inc’s (BLK.N) chief executive, Larry Fink, said on Thursday that the Russia-Ukraine war could end up accelerating digital currencies as a tool to settle international transactions, as the conflict upends the globalization drive of the last three decades.

In a letter to the shareholders of the world’s largest asset manager, Fink said the war will push countries to reassess currency dependencies, and that BlackRock was studying digital currencies and stablecoins due to increased client interest.

“A global digital payment system, thoughtfully designed, can enhance the settlement of international transactions while reducing the risk of money laundering and corruption”, he said.

[…] In the letter on Thursday, the chairman and CEO of the $10 trillion asset manager said the Russia-Ukraine crisis had put an end to the globalization forces at work over the past 30 years.

[…] “While companies’ and consumers’ balance sheets are strong today, giving them more of a cushion to weather these difficulties, a large-scale reorientation of supply chains will inherently be inflationary,” said Fink.

He said central banks were dealing with a dilemma they had not faced in decades, having to choose between living with high inflation or slowing economic activity to contain price pressures.  (read more)

You see that problem, that “dilemma” Fink mentions in the last paragraph above.  That is what we have been talking about on these pages for more than two years.   It is a dilemma western government created when they all joined together and followed the exact same financial path during the pandemic.

When western governments used the justification of the global pandemic to shut down their economies, enforce lockdowns and all of the subsequent rules, restrictions and economic pains as a direct result of those decisions, they put us on a crisis path that was always going to bring us to this “dilemma.”  Quite frankly, I do not see that unity of action as accidental, nor do I see it as organic.

All of the western leaders followed the same monetary and financial policy that was being advanced by the World Economic Forum.  They all spent like crazy, and provided tens-of-trillions in bailouts, subsidies and cash payments to cover the economic losses created by their COVID lockdowns.  They all did exactly the same thing, and that collective action is why we have ‘global inflation.’

Perversely, while inflation crushes the working class, global inflation works to their benefit by lowering the cost of the debt the politicians created, which the central bands and federal reserve facilitated.  We the citizens are suffering under inflation, but the governments that created the inflation actually benefit from it.

I will say with great deliberateness, these western governments want inflation.  Sure, it provides a political challenge for those who need to get reelected by voters, but in the bigger of big pictures, they need inflation.  Think about it in very simple terms.  If they did not want inflation, those same central banks and federal reserve policy makers would have raised interest rates six to eight months ago.

None of what is happening in supply chains and inflation is a surprise to them; they might pretend not to know, but these are not stupid people.  This is by design.  Media covers for them because, well, I’ll accept the PR firms for the regimes are idiots. However, the people who constructed these policies to take advantage of COVID-19 are not dummies.  They knew what all that intervention, manipulation and govt spending would lead to.

Where we are going now is a self-fulfilling prophecy, a destination that is a result of specific action the guided policymakers have taken.

Yes, in hindsight, all of it does seem planned to a long-term eventual conclusion.  However, I’m not going to make that specific affirmation just yet; there are still strong elements of ‘not letting a crisis go to waste’ as the leading driver.  Did these governing bodies create the underlying crisis?  We can debate that, but the point is essentially moot.  We are where we are.

The vaccination protocol created the Vax-Passport.  That has opened the door to the digital identity, “digital id.”   Any government created digital currency is going to need a digital id from the outset.

There are a lot of people asking where this is going, and what can be done to stop it.  I’m pretty certain we have accurately identified “Where This is Going,” and I’m a lot more confident now about that aspect than I was even just 24 hours ago.  However, knowing that, now we need to look closer at what they would do to stop us from disrupting it.

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White House Begins Engineering Narrative that Biden Policy U.S. Food Shortages are Fault of Vladimir Putin

White House Begins Engineering Narrative that Biden Policy U.S. Food Shortages are Fault of Vladimir Putin

The current White House Press Secretary, Karine Jeanne-Pierre, is hopelessly over her head and does not possess the intellectual or professional skills to articulate clear policy or answer questions.  Her professional inability is brutally obvious, yet political correctness dictates everyone is supposed to pretend not to notice.  In a weird way she is a perfect representation of the Biden White House.  Jeanne-Pierre is the Kamala Harris of Hank ‘tippy guam’ Johnsons.

That said, the White House is using former Pentagon spokesperson, and current National Security Council Coordinator for Strategic Communications, John Kirby, as a crutch to support Jeanne-Pierre until enough time passes and the permanent switch can take place without backlash from the media and left-wing cultural police.   Narrative engineering is a tenuous business and relies upon media pretense to continue.

With the shortage of infant formula still visible as an example of Biden incompetence, today the White House began selling a proactive strategic communication message in advance of looming food shortages.  {Direct Rumble Link} Yes, you guess it, the advanced position of the Biden administration is that the future U.S. food shortages are Vladimir Putin’s fault.

Apparently, Russian President Vladimir Putin has the ability to drive up U.S. inflation, explode U.S. energy costs, increase gasoline prices, influence global agriculture, weaken U.S. oil refining capability, disrupt availability of diesel fuel, impede the transportation of U.S. goods, force municipal energy companies to raise prices, cancel airline flights, stop the manufacturing of infant formula and now block the production -and increase the cost- of food in North America.

It’s worth noting how John Kirby says NATO and the western allies can deliver thousands of tons of heavy weapons and arms into Ukraine from western Europe without issue; however, the western allies cannot get thousands of tons of grain and foodstuffs out of Ukraine.   I digress.  The propaganda around World War Reddit is remarkable.

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If you follow the trajectory, perhaps the White House will now claim Vladimir Putin is the reason why we need to start eating bugs.

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Supreme Court Rules State and Local Government Cannot Ban Faith-Based Schools from Public Funding

Supreme Court Rules State and Local Government Cannot Ban Faith-Based Schools from Public Funding

A major win for parents and school choice today in a 6-3 decision from the Supreme Court [pdf Ruling Here].  The high court ruled that Maine violated the Constitution by refusing to make public funds available for students to attend faith-based schools.  The ruling is broad and makes it clear when any state and/or local government choose to subsidize private schools or provide vouchers for school choice, they must allow families pay for religious schools.

Teachers’ unions, left-wing indoctrination institutions and the media are not happy with the Supreme Court decision.  The ruling now makes it possible for state or local school vouchers to be used for private, faith-based schools.  Those schools also have religious exemptions on the types of material and educators they allow in their education programs.

In the bigger picture the court has again affirmed ‘freedom of religion‘ not ‘freedom from religion‘.  Parents who wish their children to receive a moral and virtuous education should not be blocked by state and local politicians who promote sexualization of children, immoral conduct and alternative lifestyles for kids.  SCOTUS BLOG has background details including the dissent:

SCOTUS BLOG: – […] The dispute before the court in Carson v. Makin began as a challenge to the system that Maine uses to provide a free public education to school-aged children. In some of the state’s rural and sparsely populated areas, school districts opt not to run their own secondary schools. Instead, they choose one of two options: sending students to other public or private schools that the district designates, or paying tuition at the public or private school that each student selects. But in the latter case, state law allows government funds to be used only at schools that are nonsectarian – that is, schools that do not provide religious instruction.

Two Maine families went to court, arguing that the exclusion of schools that provide religious instruction violates the First Amendment’s free exercise clause. On Tuesday, the justices agreed. Roberts suggested that the court’s decision was an “unremarkable” application of prior decisions in two other recent cases (both of which Roberts wrote): Trinity Lutheran Church v. Comer, in which the justices ruled that Missouri could not exclude a church from a program to provide grants to non-profits to install playgrounds made from recycled tires, and Espinoza v. Montana Department of Revenue, holding that if states opt to subsidize private education, they cannot exclude private schools from receiving those funds simply because they are religious.

In this case, Roberts explained, Maine pays tuition for some students to attend private schools, as “long as the schools are not religious.” “That,” Roberts stressed, “is discrimination against religion.” It does not matter, Roberts continued, that the Maine program was intended to provide students with the equivalent of a free public education, which is secular. The focus of the program, Roberts reasoned, is providing a benefit – tuition to attend a public or private school – rather than providing the equivalent of the education that students would receive in public schools. Indeed, Roberts observed, private schools that are eligible for the tuition benefit are not required to use the same curriculum as public schools, or even to use certified teachers. He suggested that the state’s argument was circular: “Saying that Maine offers a benefit limited to private secular education is just another way of saying that Maine does not extend tuition assistance payments to parents who choose to educate their children at religious schools.”

Roberts similarly rejected the state’s argument that the tuition-assistance program does not violate the Constitution because it only bars benefits from going to schools that provide religious instruction. Although Trinity Lutheran and Espinoza focused on organizations’ religious status (rather than on whether the organizations would be using government funds for religious purposes), those rulings did not hold that states could make funding for private schools hinge on whether the schools provide religious instruction, Roberts explained. To the contrary, Roberts indicated, there is no real distinction between a school’s religious status and its use of funds for religious purposes.

Roberts also dismissed any suggestion that Tuesday’s ruling would require the state to fund religious education. Maine has other options to eliminate its need to fund private schools, Roberts noted: It could, for example, create more public schools or improve transportation to public schools. But having chosen to provide public funding for private schools, Roberts concluded, “it cannot disqualify some private schools solely because they are religious.” (read more)

Actual physical barriers are what it takes in 2022 to stop the violent left-wing democrats from attacking the Supreme Court.  Think about what that reality showcases about the state of our union.  There is a particular hypocrisy considering the J6 committee narrative “democracy under attack.” 

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