"20 Foods That Will Double In Price This Summer"

"20 Foods That Will Double In Price This Summer"

By Epic Economist

"If you're fed up with soaring grocery prices, unfortunately, we bring some more bad news. Thousands of grocery staples will cost you 50% more than they did last summer, and some of them are likely to face even steeper increases due to a myriad of issues impacting food production. From drought to snow to storms and massive floods, extreme weather has battered the U.S. in recent years, and shoppers likely will feel the lingering effects at the grocery store over the next few months. Good weather, especially in the spring when planting season starts, is crucial to growing a bountiful crop of fruits, nuts, and vegetables. But the extreme swings this year have left many growers behind schedule, which means we are no longer talking about temporary food inflation, but a new normal where prices are more expensive, and do not return to historical averages. 

For example, the global inventory of maize, rice, wheat, barley, and oat remains about 11% lower than it was before the Ukraine crisis broke out in February 2022. The two countries are major cereal producers, but the conflict is impeding farmers from exporting their goods. This is keeping the cost of cereals at the stores about 26% higher compared to 2021 levels. And prices are going to rise even further considering that our domestic production has been disrupted by extreme weather events that caused extensive losses. Cereal-based products will cost 8% to 9% more in 2023, and that increase can add up fast and actually make a world of difference for many struggling families. All in all, cereals may end up costing almost 40% more than they did in November 2021.

Americans' favorite bakery goods including bagels, pretzels, cakes, pies, muffins, and more, are becoming increasingly more expensive, impacted by the soaring costs of cereals, flour, vegetable oils, and dairy all at the same time. While prices already rose by 34% compared to 2021 levels, another 12% increase is likely to occur by the end of the year, with peak prices expected during the summer. 

Meanwhile, barbecue season is right at the corner, and all .meat lovers should expect to spend significantly more than they did last year. All of the top beef steak cuts like fillet, scotch fillet, porterhouse, T-bone, rump, round, as well as ribeye, brisket, lamb chops, chicken legs, and pork, and even humbler alternatives like beef mince, sausages, and hamburgers are going to cost between 12.8% to 25% more this summer compared to a year ago, and about 45% to 55% more compared to 2021 levels, according to estimates released by the USDA. That's because this year our domestic beef supply is far smaller than it was in 2022. The cattle selloff that was spurred by drought and higher feed prices initially resulted in a surplus of meat in our food supply chain. But now that these products have already been sold, and more supply isn't coming in, we're likely to see some empty shelves and much higher prices as seasonal demand peaks over the next couple of months. 

Now more than ever is time to get ahead of these increases and start stocking up on everyday necessities before they become far too expensive and out of our reach. Today, we listed several products that will cost you roughly double than they did just a year ago."

Video and comments here:

- https://www.youtube.com/

"The Direction Of America"

"The Direction Of America"

By John Leaps

"Men, like nations, think they're eternal What man in his 20s or 30s doesn't believe, at least subconsciously, that he'll live forever? In the springtime of youth, an endless summer beckons. As you pass 70, it's harder to hide from reality.... as you lose friends and relatives.

Nations also have seasons: Imagine a Roman of the 2nd century contemplating an empire that stretched from Britain to the Near East, thinking: This will endure forever.... Forever was about 500 years, give or take.... not bad, but gone!!

France was pivotal in the 17th and 18th centuries; now the land of Charles Martel is on its way to becoming part of the Muslim ummah.

In the 19th and early 20th centuries, the sun never set on the British empire; now Albion exists in perpetual twilight. Its previous 96-year-old sovereign was a fitting symbol for a nation in terminal decline.

In the 1980s, Japan seemed poised to buy the world. Business schools taught Japanese management techniques. Today, its birth rate is so low and its population aging so rapidly that an industry has sprung up to remove the remains of elderly Japanese who die alone.

I was born in 1940, almost at the midpoint of the 20th century - the American century. America's prestige and influence were never greater. Thanks to the 'Greatest Generation,' we won a World War fought throughout most of Europe, Asia, and the Pacific. We reduced Germany to rubble and put the rising sun to bed. It set the stage for almost half a century of unprecedented prosperity.

We stopped the spread of communism in Europe and Asia and fought international terrorism. We rebuilt our enemies and lavished foreign aid on much of the world. We built skyscrapers and rockets to the moon. We conquered Polio and now COVID. We explored the mysteries of the Universe and the wonders of DNA...the blueprint of life.

But where is the glory that once was Rome? America has moved from a relatively free economy to socialism - which has worked so well NOWHERE in the world. We've gone from a republican government guided by a constitution to a regime of revolving elites. We have less freedom with each passing year. Like a signpost to the coming reign of terror, the cancel culture is everywhere. We've traded the American Revolution for the Cultural Revolution.

The pathetic creature in the White House is an empty vessel filled by his handlers. At the G-7 Summit, 'Dr. Jill' had to lead him like a child. In 1961, when we were young and vigorous, our leader was too. Now a feeble nation is technically led by the oldest man to ever serve in the presidency.

We can't defend our borders, our history (including monuments to past greatness) or our streets. Our cities have become anarchist playgrounds. We are a nation of dependents, mendicants, and misplaced charity. Homeless veterans camp in the streets while illegal aliens are put up in hotels.

The president of the United States can't even quote the beginning of the Declaration of Independence ('You know - The Thing') correctly. Ivy League graduates routinely fail history tests that 5th graders could pass a generation ago. Crime rates soar and we blame the 2nd Amendment and slash police budgets.

Our culture is certifiably insane. Men who think they're women. People who fight racism by seeking to convince members of one race that they're inherently evil, and others that they are perpetual victims. A psychiatrist lecturing at Yale said she fantasizes about 'unloading a revolver into the head of any white person.'

We slaughter the unborn in the name of freedom, while our birth rate dips lower year by year. Our national debt is so high that we can no longer even pretend that we will repay it one day. It's a $31-trillion monument to our improvidence and refusal to confront reality. Our 'entertainment' is sadistic, nihilistic, and as enduring as a candy bar wrapper thrown in the trash. Our music is noise that spans the spectrum from annoying to repulsive.

Patriotism is called an insurrection, treason celebrated, and perversion sanctified. A man in blue gets less respect than a man in a dress. We're asking soldiers to fight for a nation our leaders no longer believe in.

How meekly most of us submitted to Fauci-ism (the regime of face masks, lockdowns, and hand sanitizers) shows the impending death of the American spirit.

How do nations slip from greatness to obscurity?

* Fighting endless wars they can't or won't win.

* Accumulating massive debt far beyond their ability to repay.

* Refusing to guard their borders, allowing the nation to be inundated by an alien horde.

* Surrendering control of their cities to mob rule.

* Allowing indoctrination of the young.

* Moving from a republican form of government to an oligarch.

* Losing national identity.

* Indulging indolence.

* Abandoning God, faith and family - the bulwarks of any stable society.

In America, every one of these symptoms is pronounced, indicating an advanced stage of the disease. Even if the cause seems hopeless, do we not have an obligation to those who sacrificed so much to give us what we had? I'm surrounded by ghosts urging me on: the battered bastards of Bastogne, those who served in the cold hell of Korea, the guys who went to the jungles of Southeast Asia and came home to be reviled or neglected.

This is the nation that took in my immigrant grandparents, whose uniform my father and most of my uncles wore in the Second World War. I don't want to imagine a world without America, even though it becomes increasingly likely.

During Britain's darkest hour, when its professional army was trapped at Dunkirk and a German invasion seemed imminent, Churchill reminded his countrymen, 'Nations that go down fighting rise again, and those that surrender tamely are finished.'

The same might be said of causes. If we let America slip through our fingers, if we lose without a fight, what will posterity say of us? While the prognosis is far from good. Only God knows if America's day in the sun is over."

- https://www.johnleaps.com

"How It Really Is"

 

"Alas, regardless of their doom, the little victims play!
No sense have they of ills to come, nor care beyond today.”
- Thomas Gray,
“Ode on a Distant Prospect of Eton College”
- https://www.poetryfoundation.org/

Gregory Mannarino, "Something Is About To Break, Important Updates"

Gregory Mannarino, PM 5/25/23

"Something Is- About To Break, Important Updates"

- https://traderschoice.net/

Video and comments here:

- https://www.youtube.com/

"Get Ready For More"

 
Dan, I Allegedly 5/25/23
"Get Ready For More"

"Jamie Dimon, the CEO of JP Morgan Bank says that we need to get ready for more banking closures. We have not seen the end of this yet. The Banking crisis is far from over."

Video and comments here:

- https://www.youtube.com/

"Grocery Prices Are Getting Ridiculous! This Is Crazy!"

 

Adventures With Danno, 5/25/23

"Grocery Prices Are Getting Ridiculous! This Is Crazy!"

"In today's vlog we are at Kroger, and are noticing some major price increases on groceries! This is not good as stores are already charging extremely high prices on most items!"

Video and Comments here:

- watch?v=GlrvWBG36g4

MUST VIEW! "Insane News! WW3 Is About To Explode! Jets in Black Sea, Moscow On Fire"

Canadian Prepper, 5/24/23

"Insane News! WW3 Is About To Explode! 

Jets in Black Sea, Moscow On Fire"

"At this point nuclear war is likely. Time is of the essence." 

Video and comments here:

- https://www.youtube.com/

o

"There are a multitude of fuses affixed to dozens of powder-kegs and little kids with matches are on the loose. I don’t know which of the fuses will be lit and which powder-keg will blow, but someone is bound to do something stupid, and then all hell will break loose. It could happen at any time. One military miscue. One assassination. One violent act that stirs the world. And the dominoes will topple, setting off fireworks not seen on this planet since 1939 – 1945. I can see it all very clearly."

- Jim Quinn

- https://austincountynewsonline.com/

"Starbucks Mass Store Closings Have Begun And It's Worse Than You Think"

"Starbucks Mass Store Closings Have 

Begun And It's Worse Than You Think"

by Epic Economist

"Things aren’t looking good for the biggest coffee chain in the world. Starbucks is closing hundreds of stores right now, and there are many reasons behind this decision. Some store formats are simply not working anymore. In addition, several locations have been reporting poor financial results for years, franchisees are going bankrupt, and experts say rising labor tensions and leadership uncertainty are making the company’s stock a bad investment right now. The coffeehouse chain is actually shuttering all stores in one U.S. city due to a combination of all of these problems. As it turns out, Starbucks’ issues are much more complicated than people imagine, and even CEO Howard Schultz is saying that the company “has lost its way”. It is clear that something is deeply wrong with the coffee retailer’s business in 2023, and today, we investigate which factors are threatening to push Starbucks over the edge in the months ahead. 

This summer, your local Starbucks may disappear. According to a report released by the Seattle Times, roughly 20 Starbucks stores are being closed in the state due to rising theft, safety problems, and declining foot traffic. That comes after the company shuttered about the same number of locations in the state just a year ago citing similar concerns.

The outlet also identified dozens of closings across 6 states spurred by declining sales and persistent underperformance. Amongst them are four stores in the surroundings of Universal Studios, in Florida. A dozen shops in Nashville, Tennessee, and six closings in Chattanooga, Tennessee, as well as an unspecified number of closings in Louisville and Bowling Green, Kentucky, a spokesperson said. On top of that, the company also decided to close all of its stores in Ithaca, New York. Executives cited worsening financial conditions and unprofitability, but some allege that the closures were tied to the stores' attempts to unionize, according to Insider. 

Other locations are going dark because franchise operators have gone bankrupt. That’s the case of Starbucks shops in Aspen, Colorado, and Philadelphia, Pennsylvania. Due to “issues of nonpayment” of millions of dollars in fees, Starbucks sued Manhattan Capital, which then filed for Chapter 11 bankruptcy noting that it was incapable to pay the debt due to a lack of cash flow. As a result, all Starbucks stores operated by Manhattan Capital are in the process of closing down permanently. 

When it comes to brick-and-mortar retail stores, Starbucks has already shuttered 150 locations in the United States this year. "We are beginning to close stores," interim CEO Howard Schultz said in a video posted to Twitter. "This is just the beginning. There are going to be many more." Over the past 12 months, Starbucks closed 424 U.S. company-operated stores or about 5% of its total. Today, there are roughly 9,000 company-operated Starbucks stores in the country, down from 11,300 in 2020.

Over the past two years, the company is coping with a $3.2 billion loss in sales due to the pandemic, inflation, supply chain issues, and shortages of key ingredients and materials. That’s an alarming figure considering that the company’s most recent balance sheet released on February 2, 2023, showed total debt is at $14.93 billion. That's the reality of a company rotting from the inside, and the saddest part is that the biggest losers of this narrative will be U.S. consumers, who will end up losing their beloved coffee spots due to a severe case of mismanagement and lack of respect with its employees and the public."

Video and comments here:

- https://www.youtube.com/

"Jeremiah Babe, 5/24/23"

Jeremiah Babe, 5/24/23

"Truck Market In Crisis Mode; Credit Card Limits Rise; 

Mortgage Applications Drop Like A Rock"

Video and comments here:

- https://www.youtube.com/

Musical Interlude: 2002, "We Meet Again"

Full screen recommended.

2002, "We Meet Again"

"A Look to the Heavens"

"It’s always nice to get a new view of an old friend. This stunning Hubble Space Telescope image of nearby spiral galaxy M66 is just that. A spiral galaxy with a small central bar, M66 is a member of the Leo Galaxy Triplet, a group of three galaxies about 30 million light years from us. The Leo Triplet is a popular target for relatively small telescopes, in part because M66 and its galactic companions M65 and NGC 3628 all appear separated by about the angular width of a full moon. 

The featured image of M66 was taken by Hubble to help investigate the connection between star formation and molecular gas clouds. Clearly visible are bright blue stars, pink ionized hydrogen clouds - sprinkled all along the outer spiral arms, and dark dust lanes in which more star formation could be hiding."

- https://apod.nasa.gov/apod/ap210224.html

The Universe

“There are no accidents. If it's appeared on your life radar, this is why: to teach you that dreams come true; to reveal that you have the power to fix what's broken and heal what hurts; to catapult you beyond seeing with just your physical senses; and to lift the veils that have kept you from seeing that you're already the person you dreamed you'd become. There are no accidents. And believe me, that was one heck of a dream.”

“Tallyho,”

The Universe

“Thoughts become things... choose the good ones!”

- www.tut.com

"The Poet: David Wagoner, "Getting There"

 

"Getting There"

"You take a final step and, look, suddenly

You're there. You've arrived

At the one place all your drudgery was aimed for:

This common ground

Where you stretch out, pressing your cheek to sandstone.

What did you want to be?

You'll remember soon.

You feel like tinder under a burning glass,

A luminous point of change.

The sky is pulsing against the cracked horizon,

Holding it firm till the arrival of stars

In time with your heartbeats.

Like wind etching rock, you've made a lasting impression

On the self you were,

By having come all this way through all this welter

Under your own power,

Though your traces on a map would make an unpromising

Meandering lifeline.

What have you learned so far? You'll find out later,

Telling it haltingly like a dream,

That lost traveler's dream under the last hill

Where through the night you'll take your time out of mind

To unburden yourself

Of elements along elementary paths

By the break of morning.

You've earned this worn-down, hard, incredible sight

Called Here and Now.

Now, what you make of it means everything,

Means starting over:

The life in your hands is neither here nor there

But getting there,

So you're standing again and breathing, beginning another

Journey without regret

Forever, being your own unpeaceable kingdom,

The end of endings."

~ David Wagoner

“The Myth of Human Progress”

Full screen recommended.

“The Myth of Human Progress”

By Chris Hedges

“Clive Hamilton in his “Requiem for a Species: Why We Resist the Truth About Climate Change” describes a dark relief that comes from accepting that “catastrophic climate change is virtually certain.” This obliteration of “false hopes,” he says, requires an intellectual knowledge and an emotional knowledge. The first is attainable. The second, because it means that those we love, including our children, are almost certainly doomed to insecurity, misery and suffering within a few decades, if not a few years, is much harder to acquire. To emotionally accept impending disaster, to attain the gut-level understanding that the power elite will not respond rationally to the devastation of the ecosystem, is as difficult to accept as our own mortality. The most daunting existential struggle of our time is to ingest this awful truth – intellectually and emotionally – and continue to resist the forces that are destroying us.

The human species, led by white Europeans and Euro-Americans, has been on a 500-year-long planetwide rampage of conquering, plundering, looting, exploiting and polluting the Earth – as well as killing the indigenous communities that stood in the way. But the game is up. The technical and scientific forces that created a life of unparalleled luxury – as well as unrivaled military and economic power – for the industrial elites are the forces that now doom us. The mania for ceaseless economic expansion and exploitation has become a curse, a death sentence. But even as our economic and environmental systems unravel, we lack the emotional and intellectual creativity to shut down the engine of global capitalism. We have bound ourselves to a doomsday machine that grinds forward, as the draft report of the National Climate Assessment and Development Advisory Committee illustrates.

Complex civilizations have a bad habit of destroying themselves. Anthropologists including Joseph Tainter in “The Collapse of Complex Societies,” Charles L. Redman in “Human Impact on Ancient Environments” and Ronald Wright in “A Short History of Progress” have laid out the familiar patterns that lead to systems breakdown. The difference this time is that when we go down the whole planet will go with us. There will, with this final collapse, be no new lands left to exploit, no new civilizations to conquer, no new peoples to subjugate. The long struggle between the human species and the Earth will conclude with the remnants of the human species learning a painful lesson about unrestrained greed and self-worship.

“There is a pattern in the past of civilization after civilization wearing out its welcome from nature, overexploiting its environment, overexpanding, overpopulating,” Wright said when I reached him by phone at his home in British Columbia, Canada.

“They tend to collapse quite soon after they reach their period of greatest magnificence and prosperity. That pattern holds good for a lot of societies, among them the Romans, the ancient Maya and the Sumerians of what is now southern Iraq. There are many other examples, including smaller-scale societies such as Easter Island. The very things that cause societies to prosper in the short run, especially new ways to exploit the environment such as the invention of irrigation, lead to disaster in the long run because of unforeseen complications. This is what I called in ‘A Short History of Progress’ the ‘progress trap.’ We have set in motion an industrial machine of such complexity and such dependence on expansion that we do not know how to make do with less or move to a steady state in terms of our demands on nature. We have failed to control human numbers. They have tripled in my lifetime. And the problem is made much worse by the widening gap between rich and poor, the upward concentration of wealth, which ensures there can never be enough to go around. The number of people in dire poverty today – about 2 billion – is greater than the world’s entire population in the early 1900s. That’s not progress.

If we continue to refuse to deal with things in an orderly and rational way, we will head into some sort of major catastrophe, sooner or later. If we are lucky it will be big enough to wake us up worldwide but not big enough to wipe us out. That is the best we can hope for. We must transcend our evolutionary history. We’re Ice Age hunters with a shave and a suit. We are not good long-term thinkers. We would much rather gorge ourselves on dead mammoths by driving a herd over a cliff than figure out how to conserve the herd so it can feed us and our children forever. That is the transition our civilization has to make. And we’re not doing that.”

Wright, who in his dystopian novel “A Scientific Romance” paints a picture of a future world devastated by human stupidity, cites “entrenched political and economic interests” and a failure of the human imagination as the two biggest impediments to radical change. And all of us who use fossil fuels, who sustain ourselves through the formal economy, he says, are at fault.

Modern capitalist societies, Wright argues in his book “What Is America?: A Short History of the New World Order,” derive from European invaders’ plundering of the indigenous cultures in the Americas from the 16th to the 19th centuries, coupled with the use of African slaves as a workforce to replace the natives. The numbers of those natives fell by more than 90 percent because of smallpox and other plagues they hadn’t had before. The Spaniards did not conquer any of the major societies until smallpox had crippled them; in fact the Aztecs beat them the first time around. If Europe had not been able to seize the gold of the Aztec and Inca civilizations, if it had not been able to occupy the land and adopt highly productive New World crops for use on European farms, the growth of industrial society in Europe would have been much slower. Karl Marx and Adam Smith both pointed to the influx of wealth from the Americas as having made possible the Industrial Revolution and the start of modern capitalism. It was the rape of the Americas, Wright points out, that triggered the orgy of European expansion. The Industrial Revolution also equipped the Europeans with technologically advanced weapons systems, making further subjugation, plundering and expansion possible.

Wright explained this further on our call. “The experience of a relatively easy 500 years of expansion and colonization, the constant taking over of new lands, led to the modern capitalist myth that you can expand forever. It is an absurd myth. We live on this planet. We can’t leave it and go somewhere else. We have to bring our economies and demands on nature within natural limits, but we have had a 500-year run where Europeans, Euro-Americans and other colonists have overrun the world and taken it over. This 500-year run made it not only seem easy but normal. We believe things will always get bigger and better. We have to understand that this long period of expansion and prosperity was an anomaly. It has rarely happened in history and will never happen again. 

We have to readjust our entire civilization to live in a finite world. But we are not doing it, because we are carrying far too much baggage, too many mythical versions of deliberately distorted history and a deeply ingrained feeling that what being modern is all about is having more. This is what anthropologists call an ideological pathology, a self-destructive belief that causes societies to crash and burn. These societies go on doing things that are really stupid because they can’t change their way of thinking. And that is where we are.

And as the collapse becomes palpable, if human history is any guide, we like past societies in distress will retreat into what anthropologists call “crisis cults.” The powerlessness we will feel in the face of ecological and economic chaos will unleash further collective delusions, such as fundamentalist belief in a god or gods who will come back to earth and save us.”

As Wright told me: “Societies in collapse often fall prey to the belief that if certain rituals are performed all the bad stuff will go away. There are many examples of that throughout history. In the past these crisis cults took hold among people who had been colonized, attacked and slaughtered by outsiders, who had lost control of their lives. They see in these rituals the ability to bring back the past world, which they look at as a kind of paradise. They seek to return to the way things were. Crisis cults spread rapidly among Native American societies in the 19th century, when the buffalo and the Indians were being slaughtered by repeating rifles and finally machine guns. People came to believe, as happened in the Ghost Dance, that if they did the right things the modern world that was intolerable – the barbed wire, the railways, the white man, the machine gun – would disappear.

We all have the same, basic psychological hard wiring. It makes us quite bad at long-range planning and leads us to cling to irrational delusions when faced with a serious threat. Look at the extreme right’s belief that if government got out of the way, the lost paradise of the 1950s would return. Look at the way we let oil and gas exploration rip when we knew that expanding the carbon economy was suicidal for our children and grandchildren. The results can already be felt. When it gets to the point where large parts of the Earth experience crop failure at the same time then we will have mass starvation and a breakdown in order. That is what lies ahead if we do not deal with climate change.

If we fail in this great experiment, this experiment of apes becoming intelligent enough to take charge of their own destiny, nature will shrug and say it was fun for a while to let the apes run the laboratory, but in the end it was a bad idea.”

- https://www.planetaryphilosophy.com/

"That's Why..."

"That's why crazy people are so dangerous.

You think they're nice until they're chaining you up in the garage."

- Michael Buckley

The Daily "Near You?"

Brighton, Colorado, USA. Thanks for stopping by!

"The Consequences Of Our Choices"

“Life does not require us to be consistent, cruel, patient, helpful, angry, rational, thoughtless, loving, rash, open-minded, neurotic, careful, rigid, tolerant, wasteful, rich, downtrodden, gentle, sick, considerate, funny, stupid, healthy, greedy, beautiful, lazy, responsive, foolish, sharing, pressured, intimate, hedonistic, industrious, manipulative, insightful, capricious, wise, selfish, kind or sacrificed. Life does, however, require us to live with the consequences of our choices.”

- Richard Bach, “Running From Safety”

"The Great Stagger"

"The Great Stagger"

by The Zman

"One of the curious things about the Roman Empire is how it managed to stagger on for so long after the second century. The third century is actually called The Crisis of the Third Century, because the empire was in chaos. Yet, the empire managed to get through that period and carry on for roughly two more centuries. In time, Historians will probably puzzle over the same question regarding America. How is it that it staggers on despite the obvious problems?

A popular theme in science fiction is one where the human explorers stumble upon alien technology and they are baffled as to what it does. It’s not that they know the purpose but cannot figure out how to make it work. It’s that they don’t understand the purpose of the technology. The implication is that the aliens were so advanced that they were creating tools to solve problems humans have yet to contemplate. The gap between the aliens and humans is so great that it cannot be bridged.

It is a useful thing to keep in mind when thinking about the modern world. The evidence is pretty good that Western man is dumber than his ancestors. We have more overall knowledge than our ancestors, but our ability to add to it is in sharp decline along with our ability to use it. The people in charge now struggle to do the basics of government, like maintain order and the infrastructure. In America, streets are crumbling and there are regular power failures in parts of the country.

A good small-scale example is the city of Baltimore. All of the machinery that was put in place back when it was an important city is still in place. The people running that machinery today are not doing so well. They clearly lack the intellectual firepower to operate that machinery. Baltimore is one of the most dangerous cities in the world and it is suffering from a steady population decline. The political class is so incompetent they can’t even run the graft system properly.

This was all true before the Covid panic. One thing that kept Baltimore afloat was the tourist and sports industry. In the summer, tourists would come to the well-guarded inner harbor. People from the surrounding areas would come in for sports games and the surrounding restaurants. All of that was shuttered by the panic, which means the tens of millions in tax dollars never arrived. Then there is the cost of the Covid panic itself, which has further crippled the city administration.

When you look at many American cities like Baltimore, St. Louis, Detroit, Newark and so on, the question is not “How did they get to this point?” The question is, “How have they not collapsed by now?” Part of it, of course, is the surrounding infrastructure that keeps them propped up. In the case of Baltimore, the rest of the state is taxed to keep Baltimore City government going. Federal dollars pour in to keep the cops on the streets and the schools open for business.

That’s fine for cities, but that cannot work for the country as a whole. Like those cities, the national government is increasing incompetent. Both official political parties are in such steep decline that the next election will offer a choice between another carny barker and a certified dementia patient. The sober minded will always feels as if the current age sits on the shoulder’s of giants, but the gap between the best we have today and just a few generations ago is breathtaking.

Of course, no one can really know what is happening. The media told us over 50 million people were thrown out of work due to the panic. The empty streets seem to confirm it, but they also tell us unemployment is below 10%. The stock market has returned to the levels it was at before the panic. The media also tells us that the riots we saw were a figment of our imagination. How can anything work when no one can be sure of anything being told to them by the rulers?

Like Rome for close to three centuries, America staggers on, despite the problems and the decline of the ruling class. In the case of Rome, there was no organized force capable of toppling her. In the case of America, the global order assumes America will be the pivot point, the fulcrum on which order balances. As long as people are being fed and have shelter, they will not rise up to challenge the rulers. Like Rome, the great stagger will continue until the corpse of the empire collapses."

- https://www.theburningplatform.com/

The GOP’s Debt Ceiling Demands

The GOP’s Debt Ceiling Demands

 by Martin Armstrong

"The Republicans and Democrats are refusing to agree on the debt ceiling crisis. The government will be unable to pay its bills and the US will default if an agreement is not reached. Yellen has reached out to every media outlet and large corporation in the US to warn of the “catastrophic” consequences. Of course, they’ve always managed to increase the limit in the past as America cannot afford to default on its debt obligations. The Democrats insist on spending with no end in sight, while the Republicans are demanding some sort of budget. Biden and McCarthy met on Monday to discuss, but neither side will budge.

Biden said the GOP is taking an “extreme position,” but what are they demanding? The GOP wants to set discretionary federal spending at $1.47 trillion for the next fiscal year, with an increase of only 1% in future years. The Congressional Budget Office (CBO) said this would reduce the deficit by $4.8 trillion in the next decade.

The promise Biden made to students must be repealed for the Republicans to accept the ceiling. Biden implemented this policy to buy young votes and had no fiscal plan in place to finance such a lofty goal. The GOP believes student loan payments are being unfairly subsidized by millions of American taxpayers, many who already paid off their own student debt. Biden’s plan also does nothing to address continually rising tuition costs. The CBO believes this cut will save taxpayers about $460 billion over the next decade.

Biden’s IRS Army must also be defunded. The GOP wants to rescind the $71 billion that the Biden Administration used to hire 87,000 new IRS agents. We never had a need for so many agents in the past, and it is unlikely that they will shakedown $71 billion from average American families.

The Republicans also want to take back unobligated COVID relief money. Six separate bills were passed between 2020 and 2022 and the government is still shelling out money for a pandemic that has ended. The CBO stated this would save the US $30 billion in spending over the next 10 years.

The climate change agenda is costly. Republicans are demanding that Biden eliminate some of the tax breaks his administration provides to green-friendly companies. They’re negotiating exactly how to position some of the perks for biofuel. In general, the CBO believes this will save the US $570 billion over the next 10 years.

Increasing America’s ability to become energy dependent is crucial. Biden ripped away America’s ability to function without energy exports on his first day in office. The country needs coal, natural gas, and oil to function and energy inflation remains a serious problem. The energy bill, labeled HR1 as it is of top importance, would also boost production of lithium, cobalt, nickel, and other minerals.

The Republicans would also like to limit social programs and government handouts. Able-bodied adults under the age of 50, without dependents, must work a minimum of 20 hours a week or they may lose their SNAP and food stamp benefits. Those who are unemployed but on Medicaid and able-bodied will also be required to work a part-time job. The CBO stated 15 million Medicaid recipients would be required to work part-time, and 1.5 million could risk losing federal funding.

Unsurprising since the neocons are on both sides, no one has asked Biden to end the blank checks to Ukraine. America has sent hundreds of millions to Ukraine and is receiving nothing in return. Our own border is overrun and yet we just pledged another $300 million of American taxpayers’ money to secure Ukraine’s border. The funding for this war will create unprecedented inflation and cripple our economy."

- https://www.theburningplatform.com/

Hat tip to The Burning Platform for this material.

"How It Really Is"

  

"Artificial Debt Ceilings"

"Artificial Debt Ceilings"

And genuine human incompetence.

by Bill Bonner and Joel Bowman

Youghal, Ireland - "The subject is AI. But the discussion takes place against a backdrop of financial crisis. Or, at least a faux financial crisis – the debt ceiling. You probably know more about Artificial Intelligence than we do. But since it is supposed to change life on planet earth – for the better – we thought we should get acquainted with it. We don’t want to be surprised by a sudden increase in our well-being. It might be unsettling.

Here is the executive summary: If you are counting on AI to make you rich…or save the US from decline…you will probably be disappointed. In particular, buying into the speculative frenzy surrounding AI is likely to be costly. Don’t buy NVIDIA. Sell it. Returning to the financial crisis, illustrating the ‘faux’ part is The Economist:

The nightmare scenario: What happens if America defaults on its debt? An unimaginable eventuality becomes all too imaginable The Council of Economic Advisers, an agency in the White House, estimates that in the first few months of a breach, the stock market would fall by 45%. Moody’s reckons it would fall by about 20%, and that unemployment would shoot up by five percentage points, which would mean somewhere in the region of 8m Americans losing their jobs. The government, constrained by the debt ceiling, would be unable to respond to the downturn with fiscal stimulus, making for a deeper recession. ‘All too imaginable!’ Oh my. The sky is really falling this time.

It doesn’t take artificial intelligence to see that the debt ceiling crisis is a fraud. The government has plenty of money to pay for essential services – and to service the interest on its debt. As Ms. Yellen explained on TV on Sunday, it can “prioritize” its debts, paying those that are essential…and letting the others slide. No need for a ‘government shutdown’…no need for a ‘default.’ The ‘crisis’ is a swindle. Nothing more.

From former budget director (under Reagan), David Stockman, we get the figures. Every month the feds receive about $450 billion in tax receipts. The net interest payments on the debt are just over $60 billion per month. Social Security is $128 billion. That leaves $262 billion available for whatever foolish thing the feds want to spend it on. In fact, it leaves plenty to run the entire government in the style to which it became accustomed in 2019, which was no mean and lean year.

The debt ceiling fight is pure politics. The Democrats don’t want to make the hard choices that real budgets require. And the Republicans want to show that the Democrats are spendthrifts. Neither party really wants an actual limit on spending.

A.I. Says… But all the jabbering by the toady press suggests that terrible things will happen if the feds can’t get their act together and increase the national debt. This is where just a little intelligence – artificial or otherwise – might come in handy. We know of no business, family or government that ever got out of a debt trap by continuing to borrow money. Instead, the extra debt causes awful things to happen; it doesn’t prevent them.

Ultimately, all we have is time and resources. And ultimately, all the money spent by the feds must come from us. Allowing the Treasury to borrow more – with no national emergency – is just a way for them to get more of your money without raising taxes. So, let’s go to AI. Can we count on artificial intelligence to give it to us straight…without the blithering and blabbering of the mainstream media?

Do we need a debt ceiling, we asked? ChatGPT: "The question of whether the United States needs a debt ceiling is a matter of ongoing debate among economists, policymakers, and experts. The debt ceiling is a statutory limit on the amount of debt that the U.S. government can issue to finance its operations and meet its obligations.

Advocates of the debt ceiling argue that it serves as a crucial mechanism to promote fiscal discipline and ensure that the government does not accumulate excessive levels of debt. They believe that the debt ceiling encourages policymakers to make responsible spending decisions and helps control the growth of government borrowing.

On the other hand, critics of the debt ceiling contend that it is an arbitrary and unnecessary constraint that can create economic and financial instability. They argue that the debt ceiling does not prevent the government from spending money it has already committed to, and reaching the limit can lead to potential default, disrupting financial markets and undermining the country's creditworthiness.

In practice, the debt ceiling has been raised numerous times in the past to avoid default and allow the government to continue borrowing. The ceiling is often viewed as a political tool that can be used by lawmakers to negotiate and shape fiscal policies.

Ultimately, whether the U.S. needs a debt ceiling is a complex question without a definitive answer. It involves weighing the potential benefits of fiscal discipline against the risks of economic disruption. Different policymakers and economists may have varying opinions on the matter, and the decision on whether to maintain or eliminate the debt ceiling ultimately lies with Congress and the political process."

Not wrong. Not bad. Blah-blah. Suitable for a 9th grade civics class. But something is missing…

Government Misinformation: The internet promised to bring humanity to a new, higher level. We’d all have all the info, all the time. That was in the late ‘90s. But more information did not really make us better off. It turned out that information is only useful if it is pertinent to your situation…and connected, closely, to things you understand and can verify. Those YouTube videos that show you how to install a new bathroom sink, for example, can be extremely useful, but only if you’re replacing your bathroom sink. Otherwise, information is a distraction…and keeps you from replacing the sink.

And ‘information’ is easily distorted and contrived. Remember when the media was telling us that Presidential candidate Donald Trump engaged in mutual urination with a Russian prostitute? The story, though backed by mainstream celebrities, was apparently, completely untrue. Or remember being told – by 51 CIA ‘experts – that the Hunter Biden laptop brouhaha was “Russian misinformation?” Also, untrue. And who can forget when Donald Trump’s band of misfits invaded the Capitol building? For hours and hours, we saw the hapless mob milling around – with neither a plan nor a clue – and we were told they were bent on ‘a democracy-ending coup d’etat.’ Completely absurd.

And remember how the Covid virus was a threat to us all? We followed ‘the science’ and locked down much of the entire US economy. If only we had had AI back then! It might have told us – it wasn’t true.

‘Information’ on the internet was remarkably promiscuous. Loose. Untethered to reality. It merely amplified and certified the kind of loose talk you might hear from barroom big mouths. But at least it was ‘free.’ Or so we thought, until the ‘gatekeepers’ at Facebook, Google and Twitter began colluding with the feds to shut the gates to keep out ideas and opinions the feds didn’t like.

More A.I. Blah-Blah: And now, we have AI. It offers to clean up the mess on the worldwide web. It will sort, verify and organize the chatter you find in the press, in academia, in research reports and other stores of knowledge. Got a question? Just ask ChatGPT, Bard or some other AI-enhanced know-it-all.

When will the AI investment bubble blow up, we wanted to know? ChatGPT replies: "As an AI language model, I don't have access to real-time financial data or the ability to predict future events with certainty. The rise and fall of investment bubbles are influenced by various factors, including market conditions, investor sentiment, technological advancements, and regulatory changes. While AI has experienced significant growth and investment in recent years, it is challenging to determine precisely when or if an investment bubble will occur.

It's worth noting that AI continues to be an area of intense research and development, with numerous applications across industries. As with any investment, it's essential for individuals and organizations to conduct thorough research, consider the risks involved, and make informed decisions based on their specific circumstances.

If you have concerns or are considering investing in AI-related ventures, it's advisable to consult with financial professionals who can provide personalized advice based on your individual needs and goals."

Well, that’s helpful! More blah-blah. As you can see, AI is smart…it can use big words. But it is smart in the way a lot of people appear to be smart – by repeating what other people say. The artificial part is easy to see. Where’s the real intelligence? Stay tuned..."

Joel’s Note: According to the deluge of fear-mongering stories you’re about to be inundated with from now through Friday, the US Treasury is down to its last $57 billion dollars. One estimate we saw reckons that, if spending continues at the current rate, the balance will be negative $18 billion by Friday. Hmm...

Ten billion here... a couple of trillion there... gosh golly it’s hard for us non-artificial intelligences to wrap our merely mammalian brains around such large numbers. So here it is, broken down in terms we can cerebrally digest...Having $57 billion in the kitty while owing $31 trillion is like the average punter at the casino having ten $100 chips left on the table... while being in hock to the house for $545,000. Oh, wait. That does sound like a terrible position. What to do, then? Extend the poor sap’s line of credit? Or call gamblers anonymous?"

- https://bonnerprivateresearch.substack.com/

o

"Velocity And Money Supply – Inflation’s Dance Partners"

"US Debt Ceiling: How a Default Could Affect You"

Firstpost, 5/24/23

"US Debt Ceiling: 

How a Default Could Affect You"

"The US government could start to run out of money if Congress fails to raise the debt ceiling by the end of the month. What would this mean for the world and especially your personal finances?"

Video and comments here:

- https://www.youtube.com/

"Till Debt Do Us Part"

Dan, I Allegedly 5/24/23

"Till Debt Do Us Part"

"People are going out and borrowing more than ever right now.

 They don’t seem to care that they are going deeper and deeper into debt"

Video and comments here:

- https://www.youtube.com/

"When people pile up debts they will find difficult and perhaps even impossible to repay, they are saying several things at once. They are obviously saying that they want more than they can immediately afford. They are saying, less obviously, that their present wants are so important that, to satisfy them, it is worth some future difficulty. But in making that bargain they are implying that when the future difficulty arrives, they’ll figure it out. They don’t always do that.” 

– Michael Lewis, “Boomerang”

"What's Going On With Sam's Club? Empty Shelves Everywhere!"

               

Adventures With Danno, 5/24/23

"What's Going On With Sam's Club?

 Empty Shelves Everywhere!"

"In today's vlog, we are at Sam's Club and are noticing a lot of empty shelves! This is not good as prices on groceries also continue to skyrocket."

Video and comments here:

- https://www.youtube.com/

"Americans Dumpster Diving To Survive; Running Out Of Cash; Losing The Inflation Fight"

Jeremiah Babe, 5/23/23

"Americans Dumpster Diving To Survive;

 Running Out Of Cash; Losing The Inflation Fight"

Video and comments here:

- https://www.youtube.com/

"The Biggest Car Market Crash Of Our Lifetime Has Begun And Auto Prices Are Set To Plummet 88%"

"The Biggest Car Market Crash Of Our Lifetime 

Has Begun And Auto Prices Are Set To Plummet 88%"

By Epic Economist

"Over the past three years, we’ve seen the development biggest car price bubble in history, and now we’re about to witness the biggest car price crash in our lifetime, according to the experts. With a flood of supply hitting the market at a time consumer demand is rapidly cooling off, elevated prices are unsustainable, and that is true for both new and used cars. The collapse has already begun. In fact, today, we listed some models that have already faced massive price declines so far in 2023 and compiled some revealing data and some brutally honest forecasts about the auto market crisis that is now unfolding all around us.

In such an environment where buyers are being priced out of the market en masse, a crash is due, the question is merely when, analysts warned. We can already notice that a significant correction has started to unfold. But we’re being told that the collapse that is ahead will be unlike anything we’ve ever seen – even worse than what happened during the auto market crisis of 2008.

Easing supply chain pressures are helping to rebalance supply. But the thing is that we’re moving from a situation of no supply at all to a flood of inventory. That means the values of many vehicles are plummeting faster than anyone anticipated. A recent report from UBS estimates that global car production will exceed sales by 6% this year, leaving an excess of 5 million vehicles that will require price cuts to get sold off of lots, Yahoo Finance reported. The biggest example of this is Tesla’s latest price cuts for its new cars. The Model X lost over $14,000, or 23% of its value since the beginning of the year. The brand’s used car prices are falling too. For instance, used Model 3s seem to be taking the brunt of the ongoing downward trend, with their average price falling by $11,275 from $51,251 to $39,976 last month, according to iSeeCars.com.

Similarly, in 2022, the average price of a used Infiniti QX80 came in at $52,874. One year later, however, the big Infiniti SUV's average price on the used car market is down nearly $12,000 to a reported average of $41,094 in April, a 22.3% plunge. Other popular models that are about to experience major reductions in price include the new Nissan Frontier, which now costs around $39,833 and is expected to drop to $27,146 by the end of 2023. Volatility will be even higher in the used car market. Researchers forecast that a three-year-old Toyota Camry that is selling today for $27,404 is going to cost $16,548 before year’s end.

For all the people who bought one of these used models in recent months, the outlook going forward won’t bring them any relief. While the corrections that occurred up until now are quite remarkable, it’s important to note that used vehicle values increased by a whopping 88% since 2020, so they should brace for some pretty brutal declines in car values in the coming months.

All asset bubbles are bursting, with stocks and housing leading the downward march. Now, signs of a car market crash continue to emerge while unpredictable volatile outside factors threaten to make things even uglier, especially if we fall even deeper into a recession. The safe bet would be to continue to protect ourselves during the storm, and let the tsunami pass before proceeding."

Video and comments here:

- https://www.youtube.com

Gerald Celente, Trends Journal 5/23/23

Gerald Celente, Trends Journal 5/23/23

"The Greatest Recession Has Begun, Prepare For The Worst"

"Gerald Celente, renowned trend forecaster, is back with an in-depth analysis of today's trends in the news. From the inefficacy of mainstream media's coverage to insights into a looming recession, Gerald is providing unfiltered truth in this 25 minute video. Get a sneak peek into the new Trends Journal issue, learn how to discern valuable information in a sea of irrelevant headlines, and understand why Gerald says, "Thinking for yourself is the best trend to follow." The Trends Journal is a weekly magazine analyzing global current events forming future trends. Find out more here: https://trendsjournal.com

Video and comments here:

Strong language alert!

- https://www.youtube.com/

Musical Interlude: Deuter, "Along the High Ridges"

Deuter, "Along the High Ridges"

"A Look to the Heavens"

“Sculpted by stellar winds and radiation, a magnificent interstellar dust cloud by chance has assumed this recognizable shape. Fittingly named the Horsehead Nebula, it is some 1,500 light-years distant, embedded in the vast Orion cloud complex.

About five light-years "tall", the dark cloud is cataloged as Barnard 33 and is visible only because its obscuring dust is silhouetted against the glowing red emission nebula IC 434. Stars are forming within the dark cloud. Contrasting blue reflection nebula NGC 2023, surrounding a hot, young star, is at the lower left. The gorgeous color image combines both narrowband and broadband images recorded using three different telescopes.”

- http://apod.nasa.gov/apod/ap100513.html