Recently I had the opportunity to listen to an interview that was done a year ago with the ultra-leftist Transportation Secretary Pete Buttigieg. This interview is remarkable. Buttigieg is interviewed on the smorgasbord of policies that the people behind the curtain propose to solve the inflation problem. In this eight-minute segment Buttigieg reveals that the administration plans are to take over much of the economy.
For anyone who has been paying the least bit of attention, once again the country is approaching its debt limit. This has been talked about for several months. The Democrats, who want to spend the country into oblivion, have refused to discuss the reining in of any spending on the part of the federal government. Until very recently they have refused to entertain the idea of even talking about spending and any curtailments of that.
In the meantime, the Republicans have passed a bill extending the debt ceiling while incorporating cuts in some federal programs. None of these cuts would affect the big programs like Medicare, Medicaid or Social Security. The cuts did affect things like the 87,000 additional IRS agents that would be sent to harass middle America.
Chuck Schumer (D-NY) has refused to even consider such a bill in the Senate that would entail any decreases in federal spending or even slowing the increase in spending. The Democrats seem to believe that they can do whatever they want to without there being any consequences for their recklessness.
McDonald’s is temporarily shutting its US offices this week as it prepares for corporate layoffs. McDonald’s corporate employees were asked to work from home Monday, Tuesday and Wednesday as it makes announcements related to staffing and company restructuring. McDonalds employs some 150,000 people globally. This does not include employees of any franchisee.
If SVB failed because of their investment in US government bonds, how many other banks are at risk? Just how much in unrealized losses are there in the books of banks that made similar investments? Is this situation a direct outgrowth of the Dodd-Frank Act?
No recession is the mantra that is currently being rolled out by the bobbleheads in the media and the liars in Congress and the White House. This ignores the data coming from the Bureau of Economic Analysis (BEA) which showed that despite the unusual situation with import data that helped the GDP, the US economy shrunk again the second quarter. This followed a shrinking of the economy in the first quarter.
A recession is coming. Actually, it is already here. How do I know? The top officials in the Avatar’s administration are screaming that we are not in a recession ahead of this week’s report that will show us to be in a recession. They are even trying to change the definition of a recession just like they changed the definition of a vaccine.
