Category: Great Reset

The Decline And Fall Of The American Empire

Democrats Great Reset It's Probably Nothing RINO 26 Comments

@KobeissiLetter

Yesterday, the US released their Budget Deficit Report.

To see how much interest the US has paid on Federal debt, you have to scroll to page 9 of the report. Then, go to the bottom of the table to the small line item below. Finally, you’ll see that the US has paid an alarming $652 BILLION in interest YTD, up 25% since last year.

As rates rise, we will soon see the first ever year with $1 TRILLION+ in annual interest expense. Interest expense will soon be the US government’s biggest expense, even more than social security.

The debt ceiling crisis wasn’t the real crisis.

It was simply a distraction.

Meanwhile, US tax receipts fell by nearly 10% over the same time period. The drop is the biggest since June 2020 when the US went into a full lockdown.

We have a spending problem and a revenue problem. A solution is needed.

“You’re Next”

Basic Dictatorship Freespeechers Great Moments In Socialism Great Reset 20 Comments

Doomberg;

Whatever your thoughts on Nigel Farage may be, his substantial impact on British politics is undeniable. Known as a prominent Eurosceptic since the early 1990s, he is widely credited with being the main political force behind the Brexit movement that culminated in the UK’s historic vote to leave the European Union (EU) in 2016. As charismatic as he is controversial, Farage has long been a particularly effective thorn in the side of the British political establishment. Call him what you will, but with more than half of British voters siding with him in that historic referendum, he is anything but a member of a “fringe minority” with “unacceptable views.”

[…]

In an unsettling six-minute video posted to Twitter last week, Farage broke his silence on what he claims has been a months-long campaign on the part of the British banking system to make him a financial “unperson.” Without explanation, his longtime banking partner abruptly informed him they would close all his accounts, and no other bank seems willing to accept his business.

h/t Don B

That sinking feeling

Great Reset It's Probably Nothing 11 Comments

While the broader real estate market may not be showing much pricing stress yet, one sub-market appears to be filling up with bargains. After interest rates collapsed to zero and the pandemic convinced many Canadians that a cabin at the lake was the ticket, the marginal cottage owner seems to be throwing in the towel as mortgage interest and other expenses have risen dramatically.

MISSING: summary MISSING: current-rows.
Greater Sudbury, Manitoulin & French River $698,457 $553,665 −21%
Haliburton $869,756 $643,549 −26%
Kenora and Lake-of-the-Woods $852,857 $341,700 −60%
Lake Simcoe $1,700,000 $1,800,000 6%
Muskoka $978,950 $841,887 −14%
Peterborough and the Kawarthas $1,243,442 $855,858 −31%
Rideau Lakes $989,718 $939,950 −5%
Southern Georgian Bay $1,069,105 $870,899 −19%
Windsor-Essex $699,551 $541,356 −23%

Going for broke

entitlement generation Great Reset It's Probably Nothing 3 Comments

We’re now approaching the point where the bill for all the pandemic Keynesian stimulus is coming due, and the marginal consumer is having a tough time paying it.

Insolvencies, which include bankruptcies and proposals to renegotiate loans, rose 12.3 per cent in May from April and are up 30.9 per cent from the same time last year on an adjusted basis, according to data from Innovation, Science and Economic Development Canada. They are now at their highest level since the start of the pandemic…

 

Too little, too late

Great Reset It's Probably Nothing 26 Comments

Locking the barn door after the horse is gone is a feature, not a bug, of centrally planned systems. But back when interest rates were falling to zero, anyone in authority who squawked about potential problems with variable rate mortgages would have been promptly told to shut their pie hole.

Peter Routledge, the head of the Office of the Superintendent of Financial Institutions (OSFI), said that borrowers with mortgages in which payments are not high enough to cover the interest portion of the loan could experience a “shock” in significantly higher payments in the years ahead.

He added that coming measures to tighten the country’s residential mortgage underwriting rules will aim to curb the tendency to lean on those types of loans in tough times.

What Could Possibly Go Wrong?

Climate Cult CreepyJoeBiden Great Reset War On Agriculture 60 Comments

Depopulationists rejoice.

The White House offered measured support for the idea of studying how to block sunlight from hitting Earth’s surface as a way to limit global warming, in a congressionally mandated report that could help bring efforts once confined to science fiction into the realm of legitimate debate.

The controversial concept known as solar radiation modification is a potentially effective response to fighting climate change, but one that could have unknown side effects stemming from altering the chemical makeup of the atmosphere, some scientists say.

If this works, we could get the crop failures they’ve been striving for.

This is 1979, on the way to Orwell’s 1984

Great Moments In Socialism Great Reset Insufferable Twits Media 14 Comments

I will be attending federal Minister of Natural Resources Minister Jonathan Wilkinson’s event with the Saskatchewan Chamber of Commerce in Regina on June 28. He will be talking about the “just transition,” which means to do away with the oil and gas sector, one of Saskatchewan’s most important industries. But you won’t be able to share any of my stories coming from that event on Facebook, or Instagram. I don’t even know if you can privately share it on Facebook Messenger. Likely not. So a federal minister might be speaking about the demise of your industry and livelihood, and you can’t share or even read those stories through Facebook. There’s a wee possibility that “just transitioning” your job out of existence might upset you. But that story will be verboten on Facebook. As will every other story.

Here’s the editorial on it. Read now, before more blocking takes place.

Road to nowhere

Great Reset It's Probably Nothing 16 Comments

After massive pandemic era spending on alternative travel options like RVs, the marginal consumer is finally tapped out. Things were not helped by post-pandemic surge in production costs and the skyrocketing price of fuel.

Winnebago reported a 38.2% year-over-year plunge in the quarter due to sliding unit sales related to souring RV retail market conditions. Discounts were much higher than in the same quarter last year, an attempt by management to spark demand. However, high interest rates are curbing demand. 

Revenue fell the most in the Towable RV segment, down 52% to $384.1 million. The decline is primarily due to lower unit volume associated with ‘challenging’ retail market conditions and discounts and allowances versus a year ago. Revenues declined 27.5% in the Motorhome RV segment. 

More than a lifetime of debt

Great Reset It's Probably Nothing 7 Comments

I’m always a little skeptical when I see the term “expert” in an op-ed title these days, but in this case he seems to know what he is talking about.

“I’ve had many clients with amortizations, that are 70, 80, even 90 years remaining, in the extreme cases, and that’s simply because their payments are not going towards any principle at all,” he said.

“It’s mainly because the payments are strictly just paying interest to the bank, they’re not paying down any of the principal payment at all.”

Many of these same “experts” are getting worried about infinite mortgage amortization, but it’s unlikely anything will be done about it for one simple reason: monetary authorities fear a 2008 style wave of mortgage defaults far more than they fear 90 year mortgages. These authorities previously assured us that only good things can come from zero percent interest rates, and unfortunately a large portion of the population believed them.

Schadenfrozen

Climate Cult Great Reset Ukraine Y2Kyoto 15 Comments

Bloomberg;

Whether it’s chemicals or steelmakers, demand for natural gas from Europe’s power-hungry industrial heartland was slammed hard by the energy crisis that unfolded after Russia’s invasion of Ukraine.

The largest consumers of the fuel still appear reluctant to run their businesses at full steam after the record surge in power and gas prices prompted them to curb production over the winter.

The sustained demand shortfall is one of the main reasons European gas prices have collapsed 60% this year alone.

Unless something fundamental changes in the short-term — perhaps record-high storage levels unexpectedly dropping due to extreme hot weather and an increase in demand for cooling — prices are set to remain under pressure.

And who can blame them.

Well, moving production to China is a plan: More companies setting ‘net-zero’ climate targets, but few have credible plans

The Great Reset

Great Moments In Socialism Great Reset Surveillance State 15 Comments

China is the pilot project.

Digital Dark Ages

DigitalCurrency Great Moments In Socialism It's Probably Nothing 16 Comments

Is a central bank digital currency actually viable? In reality no, but that won’t stop the central planners from trying it.

They have the means, even now, to monitor your payments and to shut down access to your accounts via their supervision of banks. 

As many of those who donated to the Freedom Convoy are well aware of.

But FedCoin would take it to the next level. 

FedCoin will be the next degradation of the monetary system. It will be a leap downward into a coercive mechanism to feed the growing maw of government spending. People will fork over their savings to a central bank in order that the central bank give it to the government, to spend. Because this is less unsafe than depositing it in a bank. 

 

Proudly powered by WordPress & Skyrocket Themes

MENU

Navigation