Posted on 08/06/2023 5:48:47 AM PDT by Kaiser8408a
I wonder which season the US economy is in, according to President “Chance the Gardener” Biden.
If you believe the recovery talk (from the reckless Covid economic and school shutdowns of 2020), all is well in the (economic) garden. For example, M2 Money Velocity (GDP/M2), is almost back to where it was just prior to the 2020 Covid outbreak and resulting government-caused recession. M2 Velocity was 1.425 in Q4 2019 and was 1.289 for Q2 2023. But ever since The Federal Reserve became hyper intervention in the economy (let’s just start with Bernanke’s massive intervention in late 2008 (red line) and the Fed balance sheet expansion), and it was increased dramatically during the Covid shutdown. And is STILL above $8 trillion!
Before Bernanke and the financial crisis of 2008-2009, M2 Money Velocity was above 2.0. But it has been below 2.0 ever since The Fed’s intervention in 2008.
All is sort of well in the garden because The Federal Reserve still has its massive interventionist foot on the gas pedal. Yet, America is on an economic suicide course with its green energy hype.
Frankly, Biden talks like Chance The Gardener from the film “Being There.” Except that Chance the Gardener is a nice person and Biden is reputed to have been the nastiest member of the US Senate. Not to mention the stupidest member of the US Senate. Although I don’t think Chance the Gardiner would have taken millions in bribes from foreign countries like China and Ukraine.
Biden The Gardener should be Biden’s re-election slogan! Of course, Chance the Gardiner could walk much better than Biden with his dementia shuffle. And Chance was a great gardiner, all Biden knows how to do is sell the “Biden Brand” of political influece peddling to foreign countries.
(Excerpt) Read more at confoundedinterest.net ...
CHINA KNEW BEFORE US TAXPAYERS KNEW
FTA US Energy Secretary Jennifer Granholm, whose catastrophic handling of US energy policy will be one of the most memorable and dire consequences of the Biden era, engaged in multiple conversations with the Chinese government’s top energy official just days before the Biden administration announced it would tap the Strategic Petroleum Reserve (SPR) to combat high gas prices in 2021.
The same China whose Hunter Biden-linked energy giant Unipec, which we previously learned had bought millions of barrels from the SPR release.
Granholm called China National Energy Administration Chairman Zhang Jianhua, a longstanding senior member of the Chinese Communist Party, for a half-hour one-on-one conversation on Nov. 21, 2021.
Granholm’s calendar also shows an earlier phone call had been scheduled with Jianhua for Nov. 19 but a rep for the former Michigan governor said the first call never took place.
Then, on Nov. 23, 2021, the White House announced a release of 50 million barrels of oil from the SPR, the largest release of its kind in U.S. history at the time.
Company strategy papers from CEFC China Energy – a Chinese Communist Party-run company....... employed Hunter Biden as Managing Director.
Hunter was party to the company’s detailed plans for China
to “surpass” America as the “world’s leading country.”
Strategies included coordinating forms of “warfare” as a confidence game
to con other countries into viewing the Chinese Communist Party favorably, not as a “threat.”
oversighthouse.gov
Sept 1, 2022
Biden’s Sale of U.S. Oil Reserves to China
Also Cut in Hunter Biden $For a $Piece of the $Action
Edited.......the Biden Admin’s sale of U.S. oil reserves to Unipec America, a company operated by the Chinese Communist Party, raises concerns that U.S. oil could be used by China to support Russia’s invasion of Ukraine.
To ensure the Biden Administration is properly managing the sale of critical American assets, lawmakers are once again calling on Biden’s Dept of Energy (DOE) Secy Jennifer Granholm to provide an immediate briefing, and all documentsm and communications, related to the SPR sale.
According to DOE, the Biden Admin recently sold almost a million barrels of SPR oil to Unipec America, a subsidiary of Sinopec, a company owned by the Chinese Communist Party.
In addition to concerns with Hunter Biden, the President’s son, receiving money from the Chinese deal, the decision to sell to Unipec is troubling ...........efforts to ensure the American people that the Biden Administration is properly managing the sale of critical assets from the SPR and not supporting Russia by providing oil to China, caused lawmakers to request a briefing and documents related to this matter.
Committee Republicans previously wrote to Secy Granholm on May 26, 2022 and July 20, 2022 requesting a briefing on the DOE’s plan to replenish the SPR and raising concerns about the sale of oil to a Chinese energy company....... that Hunter Biden’s private equity firm has a financial stake in.
DOE’s failure to provide a briefing or any information related to the SPR sale jeopardizes the US’ ability to respond to national emergencies and meet Americans’ energy demands.
“Research shows Chinese firms recently trading with Russia’s defense sector, including with companies supporting Russia’s ongoing war with Ukraine. This is troubling because the DOE sale of almost $100 million worth of oil went to Unipec, a subsidiary of a Chinese oil company.
In light of China’s close friendship with Russia having ‘no limits,’ there are serious questions about whether SPR oil is benefiting Russia...... or companies assisting Russia in the invasion of Ukraine.
It would be unacceptable for China to support Russia’s invasion of Ukraine with oil from the United States.
p
Competence at a given task is nowhere on the requirement list for positions with the regime: see Karinge Jean-Luc Picard, or Airport Catwoman as an example. The only requirements are as follows:
1) Presentation - as some sort of woke pageantry of box-checking, and
2) Facilitation - of corruption, kickbacks and rigging.
“...Biden is reputed to have been the nastiest member of the US Senate. Not to mention the stupidest member of the US Senate.”
He’s a horrible person. Always has been.
A somewhat related issue, every single timeline stated by utility companies is a big lie.
We are not going to be ready for any goal stated.
It will cost way more and take way longer.
All of this is heading towards a massive economic collapse.
It appears Biden has staked his reelection on convincing a wary struggling public that the US economy is rock solid ....... all because of his policies.
Even more proof Joe Biden needs professional help.
Fact is, he has such a case on himself......thinks he can do no wrong.
Our economy is horrible.....he’s driven us into record inflation by his reckless spending then tries to take “credit” for things he had nothing to do with ....or things that aren’t true.
He even stupidly labels his failures a success, calling the mess he’s put forth “Bidenomics” (as though that were something to be proud of).
But there’s only so much you can spin, and there’s no getting away from the facts.....now some of those facts may just have caught up to Joe Biden.
Biden’s freaking out b/c US credit rating is downgraded
blamed on his mind-numbing “erosion of fiscal management.”
The problem is he doesn’t spend any time on the economy.
We’re learning Biden spends most of his time
<><>on his grooming,
<><>taking naps
<><>doing favors for a price for our foreign adversaries,
<><>sucking up to the Chinese
<><>opening secret bank accounts,
<><>enriching his crime family
<><>phoning 6 out of his 7 grandkids,
<><>hiding out at his various mansions in Delaware......
And his most impossible task....trying to remake whoring
cokehead Hunter into some semblance of a human being.
My fortune cookie was correct. I will live in interesting times…
The Biden family behavior is indistinguishable from road agent behavior. Or horse thief behavior.
Hah.......they get it right.....sometimes.
Amen.
Worse......those people got nabbed........the criminal Bidens are still free.
I trust the cookies more than their published economic data.
“ Before Bernanke and the financial crisis of 2008-2009, M2 Money Velocity was above 2.0. But it has been below 2.0 ever since The Fed’s intervention in 2008.”
—————-
I’ve believed that the Fed intervened in 2008 to prevent an inevitable collapse of the economy. That intervention didn’t prevent it. It merely postponed it.
The Fed’s toolbox is empty and all of the “ammo” is spent. There isn’t much they can do to prevent big problems going forward. I mean…if 12 + years at zero percent did not send the economy into the stratosphere…what would?
Now, we will be paying 3-5% MORE on a majority of our debt because of the recent actions. Add on another .25% because of the Fitch move and you can see how we are screwed.
Chauncey was right because he was simple minded. Joe is no Chauncey. Lol..
But, Biden was picked by the Rats because he was white.
“It’s for sure a white man’s world in America. Look here: I raised that boy since he was the size of a piss-ant. And I’ll say right now, he never learned to read and write. No, sir. Had no brains at all. Was stuffed with rice pudding between th’ ears. Shortchanged by the Lord, and dumb as a jackass. Look at him now! Yes, sir, all you’ve gotta be is white in America, to get whatever you want. Gobbledy-gook!”
How can the author misspell the very caricature he sites “Chauncey” every “chance” he can? Learn how to write and proof read.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.