BIDEN WATCH: 8.5.23 - The Truth About The Economy

 10 Signs That The Mainstream Media Is Not Telling You The Truth About The Economy - by Michael Snyder - http://theeconomiccollapseblog.com/10-signs-that-the-mainstream-media-is-not-telling-you-the-truth-about-the-economy/ If you believe the corporate media, the U.S. economy is doing absolutely great as we start to roll through the second half of 2023. Even though inflation is out of control,the commercial real estate market is in free fall, corporate bankruptcies are surging, and large businesses all over America are conducting mass layoffs, we are being told that everything is just peachy. For example, the following comes from a recent NPR articleentitled “What recession? It’s a summer of splurging, profits and girl power”… The numbers are in and things look surprisingly rosy for the U.S. economy: The Federal Reserve is still cautious, but big brands – including Coca-Cola, Hilton and Visa — are singing praises to shoppers seemingly undeterred by companies’ raising prices.What’s more, Taylor Swift, Beyoncé and Barbie are enticing people to part with their money, bolstering local businesses. Yes, “girl power” is supposedly saving the U.S. economy. Doesn’t that sound wonderful? Unfortunately, it just isn’t true. Here are 10 signs that the mainstream media is not telling you the truth about the economy… #1 When the economy is doing well, there is a tremendous demandfor trucking. But when the economy is tanking, trucking companies often get into serious trouble. So it is a very bad sign that “one of the country’s oldest and largest trucking businesses” is literally on the brink of collapse… Yellow, one of the country’s oldest and largest trucking businesses, is preparing to file for bankruptcy and may collapse within days, leaving some 30,000 workers withoutjobs. The nearly 100-year-old company is known for its competitive pricing and has more than 12,000 trucks shipping freight across the US for brands including Walmart and Home Depot. According to the Wall Street Journal, the company is preparing to file for bankruptcy and is in the process of selling off other parts of the business. #2 You can add Anheuser-Busch to the rapidly growing list of largecompanies that are conducting mass layoffs… Anheuser-Busch, the parent company of Bud Light, announced it will lay off 350 employees, many of them in corporate positions, as it seeks to recover from the fallout overa campaign involving a trans influencer. #3 The number of large corporate debt defaults so far this yearhas already exceeded the grand total for the entire year of 2022… The total amount of corporate debt defaults in the United States this year have already exceeded the amount seen in 2022. Experts have been warning of a wave of defaults to hit the economy for some time due to higher borrowing rates. At least fifty-five American-based companies defaulted on their loans in the first half of 2023, according to data from Moody’s Investors Services. That is a 53 percent increase from the total number of defaults last year, when just 36 companies said they would fail to repay their debt obligations to lenders. #4 The cost of living continues to soar. CNBC is reporting thatvehicle repair costs have risen by nearly 20 percent over the past 12 months… Car repair costs are up almost 20% in the past year, according to the consumer price index — more than six times the national inflation rate and among the largest annual priceincreases of any household good or service. So, what’s driving up prices? It’s a combination of factors, experts said. Some emerged in the pandemic era while others are longer-term trends in the auto market, they said. #5 More than three-quarters of a million households in the stateof California are behind on their rent, and now it appears that a tsunami of mass evictions is coming… More than 768,000 households are behind on rent in the Golden State, with debts totaling more than $5 billion, putting approximately 721,000 children at risk of eviction,according to the National Equity Atlas—a collaborative data and analytics tool founded by Oakland-based Policy Link and the University of Southern California Equity Research Institute. Residents in the City of Los Angeles are facing a deadline of Aug. 1 to repay all rental debt accrued between March 2020 and September 2021, with that from October 2021 toJanuary 31, 2023, due by February 2024. #6 Electric vehicles were supposed to be the wave of the future,but Ford is going to lose 4.5 billion dollars on electric vehicles this year alone… Ford Motor Company announced it is projected to lose a whopping $4.5 billion from electric vehicles (EVs) this year, up from the previous projected loss of $3 billion. The company released its second-quarter financial results on Thursday. The U.S.-based automaker’s EV division, called “Ford Model e,” has lost $1.8 billion so far this year,according to Fortune. #7 A yield curve inversion normally means that a recession iscoming, and right now the yield curve is the most inverted that it has been in more than 40 years… How big is big when it comes to the latest inversion? To measure the magnitude of the inversion, a time series of the gap between the yields on a long-term and a short-termis calculated. The most common-used measure of this is the gap between the 10-year Treasury and the 3-month Treasury. If we graph this difference between the 10-year and the 3-month, we can see that we’re now experiencing the largest inversion in more than40 years #8 Just like we saw in 2008, home foreclosures are starting tosurge… Home foreclosures have shot up for the second year in a row – as concerns grow that owners are sitting on a ‘negative equity timebomb.’ Figures from data firm ATTOM show that around 186,000 foreclosures have been filed in the first six months of the year. The trend is being driven by an uncertain housing marketand soaring mortgage rates. #9 I have repeatedly warned my readers that we are in the earlystages of the worst commercial real estate crisis in U.S. history, and now one expert is comparing it to a “Category 5 hurricane”… Starwood Capital Group’s Barry Sternlicht recently told Bloomberg’s David Rubenstein about the ongoing crisis in the commercial real estate sector, equating it to a severe “Category 5 hurricane”. He cautioned, “It’s sort of a blackout hovering over the entire industry until we get some relief or some understanding of what the Fed’s going to do over the longer term.” Currently, the biggest problem in the CRE space is sliding office and retail demand in downtown areas. Couple that with high-interest rates, and there’s a disaster lurkingfor building owners. #10 According to Challenger, Gray & Christmas, the number of announcedjob cuts in the United States during the first half of this year was 244 percent higher than the number of announced job cuts during the first half of last year… Employers have announced 458,209 cuts so far this year, a 244% increase from the 133,211 cuts announced through June 2022. It is the highest first-half total since 2020, when1,585,047 cuts were recorded. With the exception of 2020, it is the highest January to June total since 2009, when 896,675 job cuts were announced. Considering all of the facts that I just shared with you, how in the world can anyone possibly claim that the U.S. economy is heading in the right direction? It just doesn’t make any sense. Of course those that work for the mainstream media can write anything that they want. But that doesn’t mean that we have to believe them. We live in a time of great deception, and it is only going to get worse. If you think that things are bad now, just wait until we get to this time next year. With the presidential election looming, the mainstream media will be desperate to portray the Biden administration in a good light. But no amount of spin can change the truth. The U.S. economy really is in big trouble, and very dark storm clouds are gathering on the horizon. ---------------------------------------- Enough Grandstanding - Bill Wilson � www.dailyjot.com In a July 24 interview on FOX�s �Hannity,� House Speaker Kevin McCarthy (R-CA) said that the mounting evidence of corruption against Joe Biden is �rising to the level of impeachmentinquiry, which provides Congress with the strongest power to obtain the knowledge and information needed for oversight.� Thank you, Captain Obvious. Where has McCarthy been? Has he any idea that the information coming out these days about Biden and his crimefamily was documented and corroborated even before the 2020 Presidential Election? That this information is just confirmation of what was known before Biden was �elected�? McCarthy is finally coming to the conclusion that most discerning Americans alreadyknew. McCarthy told Sean Hannity, �We would know none of this if Republicans had not taken the majority,� McCarthy emphasized, �this is rising to the level of impeachment inquiry,which provides Congress with the strongest power to obtain the knowledge and information needed for oversight.� McCarthy was referring specifically to all the bribe money that Joe Biden and his family received while he was Barack Obama�s Vice President. Maybethe details weren�t known, but the general information was readily available prior to the 2020 election. The FBI, which was accused at the time of withholding information and actually denying the Hunter Biden laptop story, was stonewalling anything that wouldhelp President Trump be reelected. The mainstream news media, as they continue today, outright censored reporting of the story. Leading up to the 2020 election, the news media and deep state were caught red-handed suppressing information that democrat Joe Biden was totally compromised by communistChina and Russia through his dealings to enrich his family with son Hunter as a conduit. The facts surrounding this corruption come from at least four sources: 1) Senate Homeland Security and Government Affairs Committee and the Senate Committee on Financeinvestigation; 2) Hunter Biden�s laptop; 3) Hunter Biden�s former business partner Bevan Cooney, who is serving time for the very business dealings Hunter and he did; and 4) Former business partner Tony Bobulinski�s emails and eyewitness accounts. McCarthy is just playing politics. Americans do not need another impeachment show-trial that will go nowhere. We don�t need another Special Counsel that will find nothingand end up protecting the guilty. The pressure needs to be applied to the jurisdictions where these crimes were committed, charges brought, indictments made, and trials conducted. If found guilty put them in jail where they belong. A sense of urgency is necessarybecause these people undermine the national security every day they remain free. Politicians on both sides seem more interested in the show rather than the truth. As Habakkuk 1:4 says, �Therefore the law is powerless, And justice never goes forth. For thewicked surround the righteous; Therefore perverse judgment proceeds.� Enough grandstanding Mr. McCarthy, let�s just get on with it. -------------------------------- Ignoring mass shootings - Bill Wilson � www.dailyjot.com Whenever there is a tragic mass shooting, the leftist Democrats and disarmament folks come out of the woodwork like clockwork. �We need more gun control,� they scream. Butthere is a little-known dirty secret that they avoid like blaming the COVID plague on China: In Chicago, there is a mass shooting every weekend. But Chicago is run by Democrats. Chicago is among the most stringent gun-controlled cities in America. Chicagobans assault weapons and high capacity magazines. Chicago has a licensing requirement for gun owners. Chicago has a red flag law and a 72-hour waiting period on gun purchases. As of July 25, 330 people had been killed in Chicago, according to the Sun Timeshomicide tracker. Every weekend there are dozens of shootings and many people killed in Chicago. One could make the case that every week, Chicago has mass shootings. They range from singleshootings to drive by shootings to gang war shootings. A couple of weeks ago, somebody drove by a group of classmates that were gathered outside after a high school reunion, killing the mother of an Ohio State football player. Yet, Chicago makes every effortto take guns away from people, proving that making laws against gun ownership only affects the law-abiding. Criminals don�t care about the law. That�s why they are criminals. They will get guns at will. Disarming law-abiding folks makes them easier targets.Chicago is proof. You see, the fallacy is found in the concept of banning guns. A gun has no mind of its own. A gun doesn�t wake up in the morning and decide to rob a store or go out and tryto kill somebody. It is the person who has possession of the gun that is the problem. This is the root of the real issue. Criminals will use guns for criminal activity. But banning guns or controlling gun ownership as applied to those who obey laws meets thedemands of the real issue: disarming society. Liberals say they want to ban guns to bring peace and harmony to society. In reality, most every society that has banned guns ends up with a socialist, Marxist or fascist type of government. And that�s the realgoal. Leftists cry gun control at every opportunity. Maybe some honestly believe that if guns were banned, nobody would get shot. But the leaders of this charade know that if the general population is disarmed, they are easier to control. And when government controls people, they lose their freedom.Galatians 5:1 says, �Stand fast therefore in the liberty wherewith Christ has made us free, and be not entangled again with the yoke of bondage.� God is a God of freedom. God is also a God of moral character. With freedom there is responsibility to act withmorals. And that includes not murdering people. If these leftist would focus their attention on improving the moral character of people, perhaps banning guns wouldn�t be necessary. But most of them deny God and ridicule morality. Just like they ignore theshootings in Chicago because it doesn�t fit the narrative. It�s, say it with me�Stupidocrisy. ----------------------------- Praying for the peace of Jerusalem - Bill Wilson � www.dailyjot.com There are many parallels between Israel and the United States. The Prime Minister of Israel Benjamin Netanyahu has been under constant attack by leftists who seek to underminehim and his common sense approach to government. The same type of people have been falsely accusing Donald Trump in attempts to undermine both his presidency and his quest to return to office�much the same as what Netanyahu experienced. Court case after courtcase, never successful on the general accusation, finding bits and pieces under mostly false pretense. Death by a thousand cuts. Meanwhile, the poster boy for bribery, Joe Biden continues to poke at Netanyahu for not towing the leftist line�as if it is any of Biden�s business. Netanyahu and his alliesare trying to bring some common sense to the judicial system in Israel, trying to balance the branches of power. To this, the leftists have organized massive protests, claiming the reigning in of the Supreme Court�s discretionary authority is a front to �democracy.� In reality, it strengthens democracy. Biden, for his point issues a statement through his Press Secretary Karine Jean-Pierre who said, �It is unfortunate that the vote today took place with the slimmest possible majority.� But if it had went the other wayby one single vote, Biden would have been crowing victory for the left. The turmoil in Israel is on many fronts. Economic, militarily, judicial, social (especially with homosexuality), and political. Citizens in the United States are experiencingmuch the same. The two nations have been inextricably tied together since the rebirth of Israel. There is also a strong spiritual tie. The US came into existence as guided by the laws of God and the precepts outlined in biblical books such as Deuteronomy.The US system of representative government was also modeled after the advice given Moses by his father-in-law Jethro in Exodus�to choose �able men, such as fear God, men of truth, hating covetousness; and place such over them to be rulers of thousands, andrulers of hundreds, rules of fifties, and rulers of tens.� But there is one verse in the Bible that clearly speaks to the troubles our nations are having, Speaking of Israel in Genesis 12:3 the Lord says, �And I will bless them thatbless you, and curse him that curses you, and in you shall families of the earth be blessed.� During the Obama Administration, which treated Israel with contempt, the US faced much economic, social, and political turmoil. During the Trump Administration, whichIsrael was treated as a true friend, the US prospered. During the current Biden Administration that treats Israel poorly, America is once again faced with economic, social, and political turmoil, even as the forces of evil work in both countries to underminewhat is good and right. Pray for the peace of Jerusalem for Israel�s peace is our peace.