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As Biden Pushes Trillions In Stimulus, Employers Struggle To Lure People Back To Work

Written on . Posted in PT Global Economy.

Zero Hedge: Today’s payrolls print was the second biggest miss in history (second only to last March) as despite 7 million job openings, only a net 266k additional Americans got jobs.

” A sluggard’s appetite is never filled, but the desires of the diligent are fully satisfied.” Proverbs 13:4
Who could have possibly seen this coming?

According to Bloomberg, economists are suddenly ‘baffled’ by perhaps the most obvious outcome of a government paying people not to work during the pandemic; there’s a giant shortage of people willing to return to the workforce.

US President Joe Biden speaks on the American Jobs Plan, following a tour of Tidewater Community College in Norfolk, Virginia on May 3, 2021. (MANDEL NGAN/AFP via Getty Images)

 

The key quote from NFIB Chief Economist Bill Dunkelberg was “Main Street is doing better as state and local restrictions are eased, but finding qualified labour is a critical issue for small businesses nationwide.” And the explicit admission that BIden’s “trillions” in stimulus are behind this predicament:

“Small business owners are competing with the pandemic and increased unemployment benefits that are keeping some workers out of the labor force.”

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Social Unrest Fears Mount As World Food Prices Soar In April

Written on . Posted in PT Global Economy.

Zero Hedge: Global inflation is headed into overdrive as the leading food price indicator that is the United Nations’ Food and Agriculture Organization’s food price index increased for an 11th consecutive month in April, hitting levels not seen since May 2014, with sugar prices leading the rise in the main index.

“… A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.” Revelation 6:6

The Rome-based FAO released data Thursday showing the food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat, and sugar, surged 2 points from 118.9 points in March to 120.9 in April. Read More

Gundlach Warns America’s “Unfunded Liabilities” Are $163 Trillion, More Than 5x National Debt

Written on . Posted in PT Global Economy.

Zero Hedge: DoubleLine’s Jeffrey Gundlach called the Fed’s bluff late last month, telling investors during an interview that he suspected the central bank was merely “guessing” about the impact of inflation being “transitory”.

“The wicked borrows but does not pay back, but the righteous is generous and gives.” Psalm 37:21 ESV

Since then, we have only received more signs that inflationary pressures are growing in the US economy, while a growing number of investors have been persuaded to agree with Gundlach.

The other day, DoubleLine released a recording of another talk given by Gundlach where he elaborated on the inflation theme, while also discussing other issues like the outlook for the US dollar in the face of President Biden’s tax-and-spend agenda.

During the course of an hour-plus conversation, much of it accompanied by a slide deck with some of Gundlach’s favorite charts, Gundlach tackled a few key topics that he feels could threaten the Fed’s ability to backstop financial markets.

He started by slamming Biden’s plan to hike capital gains taxes on taxpayers with more than $1 million in earnings, arguing that fears of higher capital gains taxes is already weighing in the market.

Gundlach argued that high-beta stocks and other speculative investments like bitcoin have the most to lose due to a hike in capital gains. After all, who is going to want to take a risk on a long shot if they need to give half of their winnings to the government? Read More

Major Sanctions Relief on Table for Iran, Even Though It Is Violating the Accord

Written on . Posted in PT Middle East.

Free Beacon: The Biden administration is considering granting Iran significant economic sanctions relief, according to U.S. and Iranian officials, confirming that Iran is making headway in its demand that America unwind many of its most crippling measures.

“You shall all upon the mountains of Israel, you and all your troops and the peoples who are with you; I will give you to birds of prey of every sort and to the beasts of the field to be devoured.” Ezekiel 39:4

Negotiations with Iran in Vienna are centered around the scope and scale of sanctions relief, a State Department spokesman told the Washington Free Beacon, confirming similar comments issued this week by Iranian officials. Iran is pushing the Biden administration to nix nearly all of the sanctions applied by the former Trump administration, including those targeting the country’s nuclear program, terrorism operations, banks, and oil trade. The Biden administration says it is willing to lift all sanctions necessary for America to make a full return to the original nuclear accord, known as the Joint Comprehensive Plan of Action (JCPOA), which provided Iran with billions in cash assets.

“The United States would be prepared to lift the sanctions necessary for our JCPOA compliance only if Iran is prepared to return its nuclear program to its JCPOA status, including with respect to the level and scale of its uranium enrichment activities,” a State Department spokesman told the Free Beacon.

Iran is violating the JCPOA by enriching uranium, the primary fuel in a nuclear weapon, to levels far exceeding restrictions written into the original accord. Read More

Texas Democrat: Biden Admin Misleading Public With Photos Of Empty Migrant Facilities

Written on . Posted in PT World Order.

Daily Wire: Rep. Henry Cuellar (D-TX) accused the Biden administration of misleading the public about the purported success of its immigration policies. The Department of Homeland Security (DHS) released photos of a migrant processing facility in the border town of Donna, Texas, on Tuesday.

“You shall not steal; you shall not deal falsely; you shall not lie to one another.” Leviticus 19:11

The photos showed sparsely populated plastic cages where crowds of children had been kept, suggesting that the Biden administration is effectively dealing with the crisis-level flood of illegal immigrant children that have come into the U.S. in recent months.

Cuellar says that the photos are misleading because the children who were previously in those plastic cages are still at the tent compound, just in different sections. Officially, the children and teens have been transferred from Customs and Border Patrol (CBP) custody into the hands of the Department of Health and Human Services (HHS), according to Border Report.

“All they’re doing is they’re moving kids from one tent to the other tent and saying, ‘Oh, they’re not in the Border Patrol [custody],’ but they’re right next door,” Cuellar told Border Report. “They’re just next door in HHS.”

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Exclusive — Christians Under Coronavirus Lockdown in India ‘Forgotten,’ Facing Starvation

Written on . Posted in PT World Order.

Breitbart: The Chinese coronavirus pandemic has exacerbated what were already harrowing scenarios of discrimination against Christians in India, the aid group Open Doors warned in an interview with Breitbart News this week.

“Blessed are ye, when men shall hate you, and when they shall separate you from their company, and shall reproach you, and cast out your name as evil, for the Son of man’s sake.” Luke 6:22 KJV

Open Doors, which operates worldwide to advocate for religious freedom and help persecuted Christians, has observed an increase in cases in which governments imposing lockdowns and other policies to limit movement throughout India do not equally distribute necessary food and other aid to known Christians in their neighborhoods, Isaac Six, the group’s director of advocacy, told Breitbart News on Wednesday.

Local politicians, typically catering to the majority Hindu population, have left Christians in rural areas without the means of attaining food and risking starvation. In some cases, the officials deny the food outright, while in others they refuse to offer food to needy Christian families before serving all Hindu residents in an area.

India is facing the worst’s most severe acceleration of Chinese coronavirus contamination in the world, reaching a milestone of 400,000 documented cases a day this week. India has documented over 20 million cases of coronavirus since the pandemic began and over 226,000 deaths as of Wednesday, a toll rapidly increasing in the most affected communities.

The rapid rise in cases has increased called for a national lockdown, potentially worsening the situations putting minority Christians at risk of starvation. Read More

Iran IRGC head: Israel can be destroyed in one operation

Written on . Posted in PT Middle East.

JPost: Iran’s Islamic Revolutionary Guard Corps commander Maj.-Gen. Hossein Salami said that Israel “security” has been eroded, and its safety “bubble” burst in the last few months in a wide-ranging television interview.

“For the day of the LORD is near upon all the heathen: as thou hast done, it shall be done unto thee: thy reward shall return upon thine own head.” Obadiah 1:15

He bragged at length about how the “Zionist regime” is supposedly in the midst of security, political and social disintegration. He then claimed that Israel has suffered strikes against its maritime interests, cybersecurity vulnerabilities and other security setbacks, including mysterious explosions and a rocket that flew over Dimona.
Salami pointed to a string of incidents over the last several months, appearing to take credit for them. Read More

Facebook permanently removes LifeSiteNews’ page

Written on . Posted in PT World Order.

LifeSite News:  Facebook has just permanently banned LifeSiteNews’ Facebook page. This apparently is not a temporary measure: It is gone for good.

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In a quick series of notices and emails to LifeSiteNews’ marketing department, Facebook delivered the shocking news, accusing LifeSite of publishing “false information about COVID-19 that could contribute to physical harm.” Read More

“And ye shall know the truth, and the truth shall make you free.” John 8:32

Most Are Unprepared For The Coming Persistent Inflation Shock

Written on . Posted in PT Global Economy.

Zero Hedge: For the past two years, JPMorgan’s head quant and resident permabull, Marko Kolanovic, has been periodically predicting an imminent rotation out of growth and into value stocks (a rotation which had failed to take hold until earlier this year when we finally saw some glimmers of value outperformance).

“Come now, you rich, weep and howl for the miseries that are coming upon you.” James 5:1

Most recently, Kolanovic predicted in February that March would see a major move higher in commodity names as vol-control funds and CTAs started buying up commodity and reflation-linked stocks on the 1 year anniversary of the covid crash only to see the energy sector slump in the next two months.

Fast forward to today when in his latest attempt to time the biggest market rotation of all, the Croat published a note titled “Positioning for Inflation”, in which he predicts – you guessed it – a “rotation towards reflation, inflation, rising yields and reopening themes” and not only that but apparently the coming inflation surge will be such a surprise to most of today’s portfolio managers that they will scramble to reposition their portfolios for “the risk of more persistent inflation” (“persistent“ as in the opposite of “transitory“).

He might just be right this time. Read More