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Perfect economic storm buffeting Biden
Asia Times ^

Posted on 06/11/2022 3:48:53 AM PDT by FarCenter

Rarely in political events does punishment follow crime so quickly. Washington’s foreign and domestic policy blunders combined to produce the worst drop in real paychecks on record as well as the least public support for presidential economic policy.

Friday’s report that consumer prices rose by 8.6% year-on-year as of June means a drop in inflation-adjusted weekly earnings of nearly 4%, worse than the depths of the 2008-2009 Great Recession. Taking into account underreported inflation in shelter, the actual inflation rate is closer to 11%, and the real drop in earnings is about 7%.

That implies a political implosion for the Biden administration, which faces an 83% disapproval rating for its economic performance. By contrast, Jimmy Carter at the peak of the Great Inflation of the 1970s had a 78% negative rating for economic performance.

Inflation was already roaring in February when oil traded at $88 a barrel, before US sanctions on Russian oil raised the price paid by US and European consumers. Russia continues to export oil to India, China and others at discounts of more than $30 a barrel, that is, at roughly the prevailing price before the Ukraine war.

The sanctions didn’t slow Russia, but they clobbered Western consumers.

...

The sanctions-driven oil shortage compounded a supply squeeze that began as soon as the Biden administration took office and stopped selling oil exploration leases for federal lands. Beholden to its progressive, environmentally-woke constituency, the White House discouraged traditional hydrocarbon development, reducing US domestic oil supply by around 20% from the January 2020 peak.

(Excerpt) Read more at asiatimes.com ...


TOPICS: News/Current Events
KEYWORDS: economy; inflation

1 posted on 06/11/2022 3:48:53 AM PDT by FarCenter
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To: FarCenter

At this rate, we’ll not make it to the presidential election.


2 posted on 06/11/2022 3:56:53 AM PDT by blam
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To: FarCenter
Biden is a hot mess, but at least he is predictable.

As Obama said, never underestimate Joe's ability to eff things up. Joe seems to eff things up the same way that people with Tourette's compulsively utter profanities. He seems to be uncontrollably drawn to destructive behavior much like Hunter is. But Joe's behavior isn't just destructive for Joe, his behavior affects the country.

His obsessive destructiveness is similar to his "mythomania." He just can't help telling "whoppers."

When Joe comes to a fork in the road, he seems to instinctively know the wrong way to go...and he compulsive takes that path.

3 posted on 06/11/2022 4:01:41 AM PDT by RoosterRedux
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To: blam

That’s what concerns me.

Too much changing too rapidly.

I was shaking my head as actor Kirk Cameron was ‘preaching’ to Christians last year about Dominionism, though he didn’t call it by name.

Completely ignoring the very clear signs all around him. But it was a ‘feel good’ message and the overwhelming majority of the crowd loved it.

If only it were true...

It was very clear what 2008 was bringing. A cult of easily-deceived masses.


4 posted on 06/11/2022 4:06:09 AM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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To: SaveFerris

Is he Evangelical?


5 posted on 06/11/2022 4:08:56 AM PDT by EEGator
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To: EEGator

I think so. He got hooked up with Ray Comfort. When I heard Kirk speak, I heard Ray Comfort speaking.

After ‘Left Behind’ which was only too mild, it seems to me that Kirk must be embarrassed that the rapture hasn’t happened yet so he’s flipped 🙃 and gone into Dominionism where Christians are basically running the government.

No more partisanship. He said that, in effect.

With the push (apparently on hold for the moment) for a peace initiative in the Middle East, a perfect storm is forming for the rise of the false messiah.

Even without the rapture, these things set the conditions for the world 🌍 to receive a ‘messiah’ - one that will fool the casual observer (Scripture to follow).

Even JK was working, with the exact wording the Bible predicted, working on what the Bible predicts: a peace deal dividing Israel.

All the while, Mark of the Beast technology continues to advance.

These cannot be coincidences, IMHO.

Though I expect to be in the minority.


6 posted on 06/11/2022 4:21:55 AM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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To: SaveFerris

Matthew 24:24
King James Version

24 For there shall arise false Christs, and false prophets, and shall shew great signs and wonders; insomuch that, if it were possible, they shall deceive the very elect.

https://www.biblegateway.com/passage/?search=Matthew%2024%3A24&version=KJV


7 posted on 06/11/2022 4:25:40 AM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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1 Thessalonians 5:3
Revised Standard Version

3 When people say, “There is peace and security,” then sudden destruction will come upon them as travail comes upon a woman with child, and there will be no escape.

https://www.biblegateway.com/passage/?search=1%20Thessalonians%205%3A3&version=RSV

Note ‘Peace and Security’ in the verse.


8 posted on 06/11/2022 4:28:55 AM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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To: SaveFerris

(Note ‘Peace and Security’ in the verse.)

Now, look at the sign over JK’s right shoulder:

https://www.timesofisrael.com/us-peace-plan-said-to-include-25-billion-in-west-bank-and-gaza-investments/amp/

Now as to whom the false messiah will actually be, dunno. I’m simply pointing out that the world 🌍 is heading towards things that have been prophesied.

Others have used the ‘Peace and Security’ phrase too - and it’s ALWAYS about dividing Israel. These things WILL happen; they will not be avoided.

I’ll see if I can find the video associated.


9 posted on 06/11/2022 4:35:23 AM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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To: SaveFerris

(Note ‘Peace and Security’ in the verse.)

Even 6 years ago world ‘leaders’ were saying that same thing. Has it happened yet? No. But I’m trying to alert folks to where this is going.

https://youtu.be/xpJbAE6BmHo


10 posted on 06/11/2022 4:45:46 AM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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To: blam

>>At this rate, we’ll not make it to the presidential election.<<

It’s pretty ugly.


11 posted on 06/11/2022 4:59:02 AM PDT by servantboy777
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To: blam

“At this rate, we’ll not make it to the presidential election”

If DC is a smoldering ruins its an acceptable trade off.


12 posted on 06/11/2022 5:20:04 AM PDT by DAC21
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To: DAC21

If DC is a smoldering ruins its an acceptable trade off.

_____________________________

Even the hawks standing behind Putin and clearing their throats for their entrance cue said they will strike “the decision centers”.

DC, Brussels London...Geneva (?)....

Anyone’s guess if they and the neocon NWO will cross that line. But the NWO media icons are changing their tune. They still manage to lie, but it is the change in stance that is significant.

OTOH, perhaps the Western Powers have passed peak significance. Certainly the propaganda and agitprop centers have.


13 posted on 06/11/2022 2:28:00 PM PDT by reformedliberal (Make yourself less available.)
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