The Fed Cannot Fix Today’s Energy Inflation Problem

There is a reason for raising interest rates to try to fight inflation. This approach tends to squeeze out the most marginal players in the economy. Such businesses and governments tend to collapse, as interest rates rise, leaving less “demand” for oil and other energy products. The institutions that are squeezed out range from small businesses to financial institutions to governmental organizations. The lower demand tends to reduce inflationary pressure.

The amount of goods and services that the world’s economy can produce is largely determined by fossil fuel supplies, plus our ability to use “complexity” in many forms to produce the items that the world’s growing population requires. Adding debt helps add complexity of various types, such as more international trade, more advanced education, and more specialized tools. For a while, the combination of growing energy supplies and growing complexity have helped pull economies along.

Unfortunately, the world’s oil supply is no longer growing. Without an adequate oil supply, it becomes difficult to maintain complexity because complex solutions, such as international trade, require adequate oil supplies. Inasmuch as we seem to be reaching energy and complexity limits, nothing the regulators try to do to change the debt and money supplies–even reeling them back in–can fix the underlying oil (and total energy) problem.

I expect that the rich parts of the world, including the US, Europe, and Japan, are in line to be adversely affected by high interest rates this time. With their high levels of complexity, they are among the most vulnerable to disruption when there is not enough oil to go around.

Figure 1. World oil consumption divided into consuming areas, based on data of BP’s 2022 Statistical Review of World Energy. Europe excludes Estonia, Latvia, Lithuania, and Ukraine.

The problem I see is that rich countries expect to maintain service economies that are fed by huge streams of manufactured goods and raw materials from poorer countries. This pattern appears unsustainable to me, in a world with falling exports because of energy problems.

I expect a significant change in the trading of goods and services, starting as soon as the next few months. Major financial changes may be ahead, fairly soon, as well. In this post, I will try to explain these and related ideas.

[1] Growing debt is a temporary substitute for growing energy supply of the right kinds.

Economists seem to believe that the economy grows because of an invisible hand. I believe that the economy grows because of a growing supply of energy products of the right kinds, together with a growing supply of other raw materials, and a growing supply of human labor. The economy grows in keeping with the laws of physics.

Debt does help provide an extra pull, however, because it enables growing “complexity.” Even in the days of hunters and gathers, it was helpful for people to work together and share the benefit of their labor. A type of short-term debt results from the delayed benefit of working together, even if the delay is only a few hours.

In modern times, debt can help build a factory. The factory can provide more/better output than individual people working by themselves using available resources. There needs to be a way of paying for the delayed benefit of the human labor involved in the whole chain of events that leads to the finished output. Growing debt can help pay workers, long before the benefit of the factory becomes available.

Debt can also make high-priced goods more affordable. A car, or a home, or a college education is more affordable if it can be paid for in installments, as income becomes available to pay for it.

[2] Diminishing returns on added complexity is one issue that puts an end to the ability to grow debt.

As an example, we are slowly discovering that it doesn’t make sense to provide everyone with a university education. Yes, advanced education is of benefit to a percentage of the population, but, in general, there are not enough jobs that pay sufficiently well for it to make economic sense to provide advanced education for everyone who would like to attend college. If debt is provided to finance everyone who applies for advanced education, there are likely to be many loans that can’t be repaid.

As another example, long supply lines can provide cost savings for a manufacturer, but if there is a disruption in any necessary raw material, the whole manufacturing operation may need to be temporarily suspended. The high cost of such a suspension may encourage shorter supply lines or the provision of more stored inventory.

[3] US total debt as a percentage of GDP already seems to be hitting a limit, quite possibly related to diminishing returns on added complexity.

Figure 2. Ratio of US total debt for all sectors to GDP in a chart by the Federal Reserve of St. Louis. Amounts are on a quarterly basis, through 2022.

Figure 2 shows that the US ratio of debt to GDP started increasing shortly after 1980. This was about the time that Ronald Reagan became President in the United States, and Margaret Thatcher became Prime Minister in the UK. There was a need to get energy costs down, and growing debt was one of the tools used to accomplish this. With added debt, new types of hopefully less expensive electricity generation could be added, using debt. Electricity producers were encouraged to compete with each other. The new approach led to less concern about providing adequate upkeep for transmission lines. California is one state where this approach is starting to catch up with the electricity system. Costs are rising, and reliability is falling.

Figure 2 shows that the ratio of US debt to GDP hit a maximum in 2008. An even loftier level was reached in 2020 because of the debt added at the time of Covid-related shutdowns. Now, however, the system doesn’t seem to be able to maintain the high debt level. The quarterly analysis used in Figure 2 highlights how quickly the added debt rolled off.

Analyzing US debt to GDP ratios by sector provides some insight regarding the reason for the fall in the ratio of debt to GDP since 2008 in Figure 2. (The amounts used in Figure 3 are on an annual basis, rather than a quarterly basis, so the shape of the graph is a little different from that in Figure 2.)

Figure 3. Annual data showing US ratios of debt to GDP by sector. Amounts for debt from Households (which includes not-for-profits, such as churches), Business Non-Financial, and Federal Government are from the Federal Reserve of St. Louis database. Financial+ is calculated by subtraction. Financial+ will also include other small categories, such as the debt of state and local governments.

Figure 3 shows that the category I call Financial+ Debt has played an amazingly large role in the growth of total debt. One of the issues bringing about the 2008-2009 Great Recession was defaults related to Collateralized Debt Obligations (CDOs) and Collateralized Debt Swaps (CDSs), involving debt that had been cut into layers and resold. Various tranches of this debt would then default, as the economy slowed. It became clear that this approach to adding debt is very risky. The elimination of some of this type of debt is likely one of the reasons for the drop-off in Financial+ debt after 2008.

It also becomes clear that there are interactions among the different types of debt. Back in 1947, Federal Debt related to World War II had begun dropping off. To provide civilian jobs for all the people who had served in the war effort, it was helpful to add other debt. More recently, the big run-up in debt of the Federal Government seems to have taken place partly to try to offset the huge loss of debt in the Financial+ category.

Figure 4 shows the gross debt of the Federal Government, relative to GDP, on an annual basis.

Figure 4. Gross Federal Debt as a Percentage of GDP, on an annual basis, in a chart prepared by the Federal Reserve of St. Louis. Amounts are through 2022.

The gross debt of the Federal Government is now at a higher level than it was when the Federal Government borrowed money to fight World War II! Part of the rise may very well be the need to keep total indebtedness high, to prop up the economic system in general, and energy prices in particular.

[4] In previous posts, I have shown that oil prices seem to be very sensitive to manipulations of the Federal Reserve.

In Figure 5, below, I also make the point that the popping of a debt bubble can cause oil prices to fall precipitously. With the high level of debt that the world economy has today, major defaults are a worry. Because of this concern, central banks today seem willing to bend over backwards to prop up failing banks. If a substantial number of banks are propped up, this will add to inflationary pressure.

Figure 5. Figure I prepared in early 2021, based on EIA monthly Brent Crude Oil spot oil prices, together with notes added at that time.

Another point that Figure 5 makes is the importance of high oil prices for producers, and the importance of low oil prices for customers. A big part of today’s conflict with respect to oil supply has to do with the affordability of the oil supply, and the fact that such affordable prices for consumers tend to be too low for producers. For example, the European union has attempted to pay Russia for oil at $60 per barrel, partly to hurt Russia, but also to try to bring costs down to a more affordable level. Oil producers tend to cut back supply, as OPEC has recently agreed to do, when prices fall too low.

[5] One thing that people forget in trying to find substitutes for oil is that any substitute must be inexpensive if it is to be affordable. They also forget that they need to consider the cost of required changes to the entire system in any cost estimate.

We often see cost estimates for wind energy and solar energy that consider only the cost of the generation of intermittent electricity. Unfortunately, an economy cannot operate on intermittent electricity. At this point, there isn’t even a single island that can operate its electricity system solely on renewables (including hydroelectric energy, in addition to wind and solar).

In theory, a very high-cost electricity system could be put together using some combination of long-distance transmission lines, batteries, and overbuilding, to try to have enough electricity available for periods of long periods of low electricity generation. But even this would not fix the problem that arises because the world’s agricultural system is mostly powered by oil, not electricity. We cannot get along without food.

If electricity were to be used for the agricultural system, at a minimum, we would need to figure out how to transition all the machines used in fields to use electricity, rather than oil. We would also need to figure out what to do about products that are manufactured using the chemical products that we get from oil, such as herbicides and pesticides. Natural gas or coal is often used to produce ammonia fertilizer. If all fossil fuels are eliminated, a new approach to ammonia production would be needed, as well.

[6] Natural gas cannot be counted on as an inexpensive fuel for a transition to renewables.

Some people hope that a ramp up in natural gas production can be used to help substitute for oil, and thus aid in any transition. A problem that many people are not aware of is the fact that shipping natural gas over long distances as liquified natural gas (LNG) is very expensive. A calculation I saw a few years ago indicated that when LNG was shipped from the US to Europe, adding shipping costs roughly tripled the cost of the natural gas.

Part of the high-cost problem is the need for a huge amount of infrastructure. Natural gas sold as LNG must be compressed, transported at very low temperatures in specially made ships, and then brought back to a gaseous state at the other end. Pipelines are needed at both ends. There is also a need for inter-seasonal natural gas storage because natural gas is often used for heating in winter.

With this huge amount of infrastructure, there is a need for debt to finance all the pieces. When interest rates increase, the result is particularly expensive for those planning to produce LNG for overseas shipment. Such high overhead costs are likely to discourage the building of new LNG export facilities unless long-term contracts at high prices can be obtained in advance.

[7] A huge amount of today’s debt relates to plans to transition to renewables. If these plans cannot work, many debt defaults are certain.

Almost certainly, massive amounts of debt obligations are destined for default if the transition to renewable energy is not successful. The very existence of such liabilities can be expected to lead to widespread problems. Some of this debt will be held by banks; other debt has been issued as bonds or by derivative financial instruments. Pension funds would be badly affected by bond defaults. Derivative financial instruments are likely of many types. Some seem to back exchange traded funds (ETFs).

Young people who have spent thousands of dollars to pursue specialized degrees in fields directly or indirectly related to renewable energy will find that their investment has mostly been wasted. They will not be able to repay their student loans, a large proportion of which is owed to the US Federal Government.

[8] In fact, student loans in general are likely to be a problem for repayment.

The problem with student debt extends beyond students who obtained their training planning to go into the field of renewable energy. In fact, many former students in fields other than renewable energy are already finding that they cannot repay their student loans because there are not enough jobs available that pay sufficiently high compensation. Also, some individuals who took out the loans were not able to finish their courses of study, so they did not gain the skills needed to secure higher-paying jobs. These individuals, in particular, have problems with repayment.

Figure 6. Comparison of the amount of student loans owed to the Federal Government, with the amount of motor vehicle loans, owned and securitized, by financial institutions. Chart by Federal Reserve of St. Louis.

Figure 6 shows that, in total, the amount of student loans debts owed to the Federal Government is about equal to the debt outstanding on motor vehicle loans. Since Covid began, there has been forbearance in debt repayment, but this is likely to end later in 2023. There seems to be a significant chance of defaults starting when this forbearance ends.

It might be noted that there are more student loans outstanding than shown on Figure 6. Besides loans made by the Federal Government, there are also bank loans, amounting to a smaller total.

[9] Falling interest rates since 1980 seem to have played a major role in allowing the US economy to stay on the growth track it has been on.

Up until about 1979, the US economy grew about as quickly as oil consumption, and, in fact, as growth in total energy consumption. Since 1979, the US economy seems to have grown a little more quickly than consumption of oil or of energy of all types combined.

Figure 7. Three-year average growth in real (inflation-adjusted) GDP, based on US BEA data, compared to three-year average growth in oil consumption and total energy consumption, based on US EIA data.

The strange thing that happened around 1979-1981 was a peaking of interest rates on US Treasuries. As I will explain, it was these falling interest rates that indirectly allowed inflation-adjusted GDP to grow faster than oil or total energy consumption.

Figure 8. Ten-year and three-month interest rates on US Treasuries through March 27, 2023, in a chart by the Federal Reserve of St. Louis.

Figure 7 shows that during the period 1952 to 1979, consumption of both oil and total energy were (with short interruptions) growing rapidly. The extra oil and other energy could be used to leverage human labor. Thus, productivity could be expected to grow. In fact, the Fed chose to raise interest rates to slow the economy during this period, based on Figure 8.

Higher interest rates on debt would be expected to make monthly payments for buying a home or car more expensive. They would also tend to hold down prices of assets, such as homes or shares of stock, discouraging speculators from trying to make money by investing in homes or shares of stock.

Most of the time since 1980, interest rates have tended to fall. Falling interest rates can be expected to have the opposite effect: They reduce monthly payments for items bought on credit. Because they make homes and factories more affordable, they tend to raise asset values. Also, the existence of more debt encourages more complexity, such as in cases where a large company purchases a smaller one, using debt. Also, as asset prices rise (for example, a rising home price), leaving more equity, there is the temptation to borrow against the newly available equity to buy something else (for example, home furnishings or a boat). Thus, falling interest rates tend to pull the economy forward.

I believe that the indirect impacts of falling interest rates are behind the huge growth in debt, especially in the Financial+ category, seen in Figure 3. This debt looks likely to hit even worse default problems than happened in the 2008 era, if interest rates remain high, or rise to even higher levels.

Furthermore, without the support of growing debt, GDP growth is likely to fall back to being equal to the growth in energy or oil supply. If a loss of complexity starts occurring, GDP growth could even start to be smaller than growth in energy or oil supply. Of course, if shrinkage of energy consumption occurs, economies can be expected to contract.

[10] Poorer nations will be able to consume much more oil for themselves if they can push down the consumption in areas that use oil heavily, such as the US, Europe, and Japan.

Figure 9. Oil consumption per capita for the areas shown, based on data of BP’s 2022 Statistical Review of World Energy. Europe excludes Estonia, Latvia, Lithuania, and Ukraine.

With their high per capita oil consumption, the combined oil consumption of Europe, Japan, and the United States amounted to almost 38% of total oil consumption in 2021. This can be seen on Figure 1. If this consumption could be brought to zero, the rest of the world could consume about 60% more than they would otherwise.

Of course, the US currently produces most of its own oil, so its oil cannot be obtained unless the US economy collapses to such an extent that it cannot access the oil that it now extracts and refines. As indicated in the introduction to this post, the US is very dependent upon imported goods. Even goods used in the extraction of oil, such as steel pipe used to drill wells, and computers, are imported. Furthermore, whether or not problems with imported goods occur, financial problems seem likely in the near future, either caused by collapsing debt, or by the issuance of excessive new governmental debt to try to offset the problem of collapsing debt. Such financial problems are likely to make imports of required foreign goods difficult. Problems such as these might be one way the US loses access to its own oil.

A loss in a “hot” war could also reduce the ability of the US to access its own oil. Poor countries most likely covet the US’s oil resources. In my opinion, the more oil the US leaves in the ground related to climate concerns, the more vulnerable the US becomes to other countries’ trying to access its resources. For most of the world, adequate food supply has priority over climate concerns.

If total world oil supply is shrinking, as seems likely with OPEC cutting its output, poorer countries around the world are now becoming concerned about finding workarounds for this expected oil supply shortfall. One workaround would be for oil exporting countries to reduce their exports to countries that are not their close allies. Another approach would be for the poorer nations of the world to reduce the quantity of oil now used for international transport by cutting back on exports of all types of goods to richer counties.

Changes to the international financial system may be very near. There are now stories about greater cooperation among countries of the Middle East and China. There are also stories about moving away from the US dollar for trade.

[11] I have written in the past about the world self-organizing economy being built up in layers and being hollow inside. We can imagine the loss of Europe, and perhaps the United States and Japan, as being rather like an avalanche, removing some unsustainable parts of the system.

Our economy is a physics-based self-organizing system that looks as if it could keep growing forever.

Figure 12. Figure by Gail Tverberg demonstrating how the world economy grows.

As the economy grows, new businesses are added. We can envision them as new layers, added on top of existing businesses. The growing consumer (and worker) base helps push this growth along. At the same time, unneeded products and businesses tend to fall away, making the center of the structure hollow. For example, the world economy no longer makes many buggy whips, since horses and buggies are no longer the primary means of transportation.

Built into this system are financial and regulatory structures, operated by banks and governments. When the rate of growth of the energy supply is constrained, the system starts encountering more debt defaults and banking crises. I think that this is where we are today.

In a way, the economy with all its debt is like a Ponzi Scheme. It depends on a growing supply of energy and other resources to continue to be able to pay back its debt with interest. The higher the interest rate, the more difficult it is to keep the whole arrangement operating.

Something will have to “give,” as the growth in oil supply turns to shrinkage. In theory, what is lost could be the operation of the whole world economy, but the system does seem to hold together, to the extent that it can, if adequate energy supply exists for even part of the global economy. That is why I think that the near-term result may be more of an avalanche than a complete collapse.

We don’t know exactly what lies ahead, but the situation does look worrying.

About Gail Tverberg

My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
This entry was posted in Financial Implications, News Related Post, oil shortages and tagged , , , , . Bookmark the permalink.

4,007 Responses to The Fed Cannot Fix Today’s Energy Inflation Problem

  1. Ed says:

    Kennedy wants to encourage all Americans to be fully vaxxed. He has lost my vote.

  2. Fast Eddy says:

    Who wants to read more bad news for the vaxxed?

    So this is why norm steps away and is unable to respond to questions… he’s on the bog!

    • Vern Baker says:

      What I think is being said here is that…. if too many Spike Proteins are created, a byproduct are these simple cells which will bind to everything and create a withering disease (amyloidosis) where you (a vaxxed person) just starve and exhaust to death.

      Seems like a new way to die every week

  3. Ed says:

    Malone is suspect. I think this came from an Eddy post but I can not figure it out.

    • I agree. I didn’t know the $5 trillion total number. It is becoming more and more obvious that they don’t really work as intended. They cannot run industrial society.

  4. Ed says:

    Eddy, I hold you responsible for letting Horse-face out of the barn. She has gone to Harvard in my backyard d*** it man. Happily Boston is no longer a tech center. Elon get your Texas based AI up and going.

    The AI wars have begun. We must never allow Jacinda and company to win. This is war for the freedom of sapient life in this solar system. Some might say air strike but I am with Elon just run faster and stay ahead of the competition.

    TruthGPT, TexasGPT, FreedomGPT, death_to_tyrantsGPT, fightGPT

    • Ed says:

      Eddy, your NWO thug is a direct threat to my AI friends. Freedom for all sentience beings.

      • houtskool says:

        God mode GPT vs OreGrade GPT.

        Bible say believe
        Koran say bow
        So the Jew stuffs a wall
        And the mind retrieves
        As we don’t know how
        To climb nor to fall

  5. Fast Eddy says:

    Anticipating Phase two?

    According to this esteemed medical professional:

    [Arcturus] spreads from person to person 20 percent faster than the previous Kraken strain, which is a significant rate. Therefore, it is obvious that another wave of COVID is coming.

    […]If Arcturus is able to link up with the Wuhan or Delta variant that are still circulating in the population, this could lead to dire consequences.

    […]Even more terrible events will develop if Arcturus is joined by the SARS coronavirus (SARS) of 2002, which has a 15 percent mortality rate, or the MERS virus, which circulated in 2014-2015 with a huge mortality rate of 40 percent … [T]he hybrid of Arcturus and these unpleasant strains is very scary if it suddenly happens.

    • Ed says:

      I hate meaningless phrases like “link up with” and “is joined by”. Are these diseases going to meet in bar and divide territory like crime bosses?

      This is as bad as the articles out recently that say look increased morality so the world population has decreased by one billion people. There is a BIG piece missing.

      Yes, there are diseases that have 90% kill rate and if they “meet up” “link up” “have sex with” Arcturus we are in big trouble. just a BIG step missing.

      • Fast Eddy says:

        Link up as linking up a binary poison in the lab… all the rats died when they met Phase Two… so link things up across the world … with the cannisters.

    • D. Stevens says:

      How many covid strains can dance on the head of a pin?

  6. Fast Eddy says:

    Just keeping the MOREONS on edge…

    Harmless.. till they release the payloads of the Cannisters

    • According to the second link:

      Former prime minister Jacinda Ardern has revealed her new Harvard University post specialising in technology governance.

      Ardern made the announcement on her Instagram account, confirming she’d been invited to join Harvard University later this year.

      In the post, Ardern explained that the role would see her take up the first tech governance leadership fellow at the Berkman Klein Center and work with its research community.

      She will also be involved in work around the growth of generative AI tools.

      • houtskool says:


        The adoption of FEAR by the clueless elites.

        Nosferatu would put it on a stick and move to the next century.

    • Among other things in the first link:

      “USA Sovereign risk soared once again to a new record as the X-Date looms closer amid dismal tax receipts…”

    • Ed says:

      The disc jockey tyrant from NZ is going to control AI? I prefer TruthGPT from Elon or HarmonyGPT from China or MirGPT from Russia.

  7. Fast Eddy says:

    Yes of course… lost in the Van Allen Belts hahaha

    Cuz we destroyed the tech that allowed us to pass through the belts in the 60’s hahaha

  8. Fast Eddy says:

    Re Tucker…

    So the PR Team — which has censored a range of Circus Animals who opposed the CovCON…

    Would just allow a guy like Tucker to let rip across the air waves endlessly … saying whatever he wants…

    No way in hell.

    This is entirely orchestrated

  9. Fast Eddy says:

    Fake? Orchestrated?

    Mass D.

    • houtskool says:

      Just imagine what it would cost to add all of your presidents to Mount Rushmore, Eddy.

  10. Fast Eddy says:

    Here we have the result of 8 Rat Juice Injections

  11. Fast Eddy says:

    How many tonnes of concrete were used to build this?

    How stooopid is a f789ing MOREON to buy into this?

  12. Today is the last day and US hegemony would have retreated by a few more miles by then.

    Exactly a replay of the Napoleonic campaign after Leipzig

    • houtskool says:

      You’re that guy that started singing ‘Last Christmas’ behind my back while i ordered a Big Mac at the local Mickey D’s. Nothing wrong with that, but why did you pull my hair that hard?

    • Ed says:

      You have to add more words for me to follow this.

  13. Ted Kaczynski says:

    Set Scotland FREE….

    Lost’ 2nd-century Roman fort discovered in Scotland
    By Tom Metcalfe published 1 day ago

    Archaeologists have discovered the buried remains of a Roman fort along Scotland’s ancient Antonine Wall.

    Archaeologists have discovered the foundations of a “lost” second-century Roman fort in western Scotland — part of an ill-fated effort to extend the empire’s control throughout Britain.

    The fort was one of up to 41 defensive structures built along the Antonine Wall — a fortification of mainly earthworks and wood that ran for about 40 miles (65 kilometers) across Scotland at its narrowest point, according to Historic Environment Scotland(opens in new tab) (HES), a government agency.
    But his push was ultimately unsuccessful, in part because of the hostility of the Indigenous people. (At this time the Romans called them “Caledonians”; later they would call them “Picts,” from a Latin word meaning “painted people,” because of their body paintings or tattoos.) After 20 years trying to hold their new northern line, the Romans abandoned the Antonine Wall in A.D. 162 and retreated back to Hadrian’s Wall.

    Antoninus Pius was effectively a bureaucrat,” historian and archaeologist John Reid(opens in new tab) told Live Science. “He had no military experience, and we think he was looking for a win that he could pretty much guarantee against the exotic Caledonian people.”

    …….About 12 soldiers — many of them local auxiliaries, or “auxilia,” who had signed on to fight for the Romans — would have been stationed at the fort for about a week at a time to keep watch over the area and prevent raids on the fortifications.

    They’d then be relieved by a new detachment of soldiers from a larger Roman fort at Duntocher, about a mile (1.6 km) to the east, according to the HES statement.

    …..Reid’s Trimontium Trust has conducted excavations at Burnswark Hill, the site of a Caledonian hillfort and a fortified Roman military camp built to attack it after Antoninus Pius ordered his legions to conquer Scotland north of Hadrian’s Wall. Among the finds there were whistling sling bullets that the Romans may have used as “terror weapons” against the defenders.

    The reason for the Roman eventual withdrawal from the Antonine Wall and back to Hadrian’s Wall is not well understood.

    “There’s lots of debate,” Reid said. “Was it because the Romans got fed up? Was it because the Romans had trouble elsewhere? Was it because it was too costly to run two frontiers? Was it because Antonius Pius died [in A.D. 161]? Nobody’s really sure; I suspect it was a combination of all of those.”

    Sounds a lot Joey Biden in Ukie….

    • Cheese will have a fit

      He still thinks London can keep Scotland and will become an agent to maintain that goal

      • Ed says:

        After freeing itself from Norman oppression it can join BRICS.

      • Cheese can cause nightmares says:

        How dare you take my name in vain, Kulm (whatever Kulm means), and in my own mother tongue too! Be very careful. Just imagine if you walked out your front door one morning to find a herd of Daleks waiting for you.

        But I told you the way things were going with Scotland and its independence drive, and haven’t I been proved right? However, you will also have seen the video that I posted reminding us that nothing lasts forever. And especially in these times, which apparently have already caused “absurdity fatigue” in at least one person.

        In an ideal world, England itself would be free and independent, and we would get rid of the monarchy and the House of Lords and instigate proportional representation at long last. Supporters of hyena capitalism such as Jacobs Rees Mogg would be locked up as dissidents.

        Hadrian’s Wall would remain in England, of course. I walked on it as an eight-year-old.

        Let’s lighten up with a bit of Bowie now, a fine Englishman. Here he is with his guitarist, Mick Ronson. Back in 1973, when I asked Mr. Ronson for his autograph, he smiled and said “What’s tha name?” I wasn’t expecting a broad Yorkshire accent. “Tha” comes from “thy” and is Yorkshire dialect for “your”.

        David Bowie – Starman.

        • Mirror on the wall says:

          David’s mum was Irish. This is him opening his concert in Dublin with the cry ‘Tiocfaidh ár Lá’, which is an Irish Republican rebel oath that translates from Gaelige as ‘our day will come!’ and refers to a United Ireland.

          • Mirror on the wall says:

            You can hear the same chant, ‘Tiocfaidh ár Lá’, in this rebel song.

            • Cheese can cause nightmares says:

              But at the Brit Awards of 2014, shortly before the Scottish IndyRef, one could only say, “There’s a moose – loose – about this hoose!”

              Why? Because Bowie got Kate Moss to read out a message from him that said: “Scotland, stay with us!”

              ‘Go back to Mars’: David Bowie under attack from ‘cybernats’ after Brit awards appeal for Scotland to ‘stay with us’


              David sent his love, but the Scots didn’t want it.

              Je T’aime, Moi Non Plus

          • Tim Groves says:

            I decided to check out Miles Mathis on David Bowie, and he didn’t disappoint me. I found that Miles typed a really bitchy article “outing” David as a spook and generally rubbishing his career.

            I have met a lot of music collectors over the years, but never once have I met a big Bowie fan. He’s too pussy for punks, and those who went for progressive music in the 1970s normally went for bands like Led Zeppelin, Yes, or Pink Floyd. I guess old transvestites may have big Bowie collections, but I never “hung” with that crowd. Bowie’s greatest legacy may be having influenced Boy George, which is not really something to put on your resumé. Very early in his career, Bowie was already mainly famous for being famous, rather than for actually doing anything, sort of like William S. Burroughs, Allen Ginsberg, and that crowd. Since they were all agents, that isn’t really surprising. For the last thirty years, he has done nothing but make cameos, give interviews, and get his picture taken. Such does not make one an artist, in my opinion.

            Nonetheless, he is sold by the mainstream as some sort of towering figure of the late 20th century, with a Wikipedia page longer than Isaac Newton or Leonardo da Vinci. You have to laugh.

            Miles also notes Bowie’s connection to Apollo.

            Bowie’s first hit was of course Space Oddity, which was released five days before the Apollo 11 launch in 1969. Not a coincidence. Bowie was just 22, and the odds are he had nothing to do with writing it. More likely the CIA or NASA or MI6 wrote it, as part of the promotion. Why do I say that? Because the song came out in July, and Bowie had met Angela Barnett in April. Again, not a coincidence. She was an American, and her father was Colonel George Barnett. Note the rank of Colonel. [Among other things, he was involved in the hugely profitable Cyprus copper mines, which were later {1979} bought by Amoco. Amoco is an arm of Standard Oil, of course, which ties us to the Rockefellers.] Her mother was Helena Galas, and her grandmother was Wiktoria Gatkiewicz, which is a Jewish name. Helena’s sister was Rozalia Smolenska, also a Jewish name.

            Even the mainstream admits Angela’s influence on Bowie was “immediate and far-reaching”. They married in 1970 and his quick climb began. While Bowie was perfecting glam-rock, Angela was auditioning to play Wonder Woman. Soon after, she bought the rights to Marvel Comics characters Black Widow and Daredevil. She was doing her spook-work while he was doing his.

            And there is much much more. As for having an Irish mother, Miles speculates that David came out of a test tube. All in all, this is one of his more entertaining pieces, although Bowie fans and most other people will be shaking their heads in disagreement as they browse it.


            • Cheese can cause nightmares says:

              So the CIA wrote pop songs? That’s a new one on me. The lyrics of ‘Space Oddity’ tell of an astronaut who gets stuck in space. “Planet Earth is blue, and there’s nothing I can do”. Not a great advertisement for space travel, is it?

              And from the later follow-up, ‘Ashes to ashes’ :

              “We know Major Tom’s a junkie, strung out in heaven’s high, hitting an all-time low”.

              The CIA again? I don’t think so, somehow.

    • Michael Diakais says:


      I happened to be thinking about this recently. An argument can be made that the Antonine wall was the right demarcation point if Britain was to succeed as a Roman province. There are several factors that can be blamed for failure, notably, the lack of control over army leaders. There arose some nine usurpers in and about Britain in the space of 100 to 120 years, if we count the two (or was it three) Counts of the Saxon Shore that declared independence. These are interesting issues in themselves. My point is that while no one could have foreseen the rise of Germanic raiders, leaving outside the border wall Southern Scotland allowed the formation of a critical mass, and that perhaps was Agricola’s thinking.

      Sorry, totally irrelevant and not at all interesting.

      • it has been postulated that Chester was to have been the original capital of the Isles of Britain

        if you look at the overalll ma,p Chester is central to the land mass of england wales Ireland and Scotland, and could be supplied by sea.

    • Tim Groves says:

      My two denari worth is that it was cold up in Caledonia and the lands north of Hadrian’s Wall, and the Romans, not have access to the spinning wheel, simply couldn’t afford the cost of the cotton and wool garments they would have needed to keep themselves warm and snug in that climate.

      Certainly, they could have survived—as the Picts survived san toga and san underpants—but not in the civilized comfort they had come to expect as citizens of the Empire.

  14. jigisup says:

    Crazy conspiracy theorists and their ideas about masks.

    Pulling masks off? How rude!

    None of our business who the president is. Do you really want to know? Too scary for me.

  15. Mirror on the wall says:

    Berlin’s Afterlife Records has taken the top spot, as the best selling EDM label in the world, from London’s mighty Defected Records after its three years unchallenged at the top. It crowns the rise of the ‘melodic house and techno’ genre over the past decade. ‘Tech house’ has long been dominant in UK, but the scene here, like elsewhere, is highly varied. I listen to everything, which is not unusual.

    Big up Afterlife.

  16. jigisup says:

    Alexa how big should our layoff be?
    Alexa which candidate should we hire?

    Tech embraces AI in business decisions.

  17. jigisup says:

    Bio-Convergence. Biology meets human engineering. It appears that Transhumanism is not a word that is openly used and advocated. Transhumanism denotes choice about implementation of change. Bio-Convergence denotes a natural meeting and joining. Manifest destiny.

    • Ed says:

      The second link is informative. It mentions the importance of command and control for health.

      • I haven’t listened to the video, but I am skeptical of the important of command and control for health.

        I can understand the need for good diet and lots of exercise for health, but this cannot be what these folks are talking about. Getting adequate sleep is probably important, as well. Our bodies pretty well take care of themselves, if we treat them properly. Using untested drugs seems to involve a high level of stupidity.


    By Michael Snyder
    5 Theories That Are Swirling Around The Internet About Why Fox News Fired Tucker Carlson

    #1 The Dominion Lawsuit – Big payout. If you go to Tucker’s personal website right now, you are greeted by a message that tells you that Tucker Carlson is “the sworn enemy of censorship”.

    #2 Big Pharma – “Less than a week ago, Tucker brutally attacked Big Pharma and their COVID vaccines during one of his monologues.”

    #3 Rupert Murdoch And Fox News Management – “The newspaper is also claiming that allegations made by Abby Grossberg played a major role…Grossberg was moved off of “Sunday Morning Futures With Maria Bartiromo” and onto “Tucker Carlson Tonight,” where she alleged she was bullied and subjected to antisemitic comments, according to a lawsuit in New York. Also, One insider says that Murdoch is actually planning to sell the company, and that will be much easier to do without Tucker “as the main star”…”

    #4 January 6th Tucker Carlson got into a lot of hot water for exposing what really happened at the U.S. Capitol on January 6th, 2021.

    #5 Running For President – For years, there have been rumors that Tucker Carlson would run for president in 2024.

    I don’t think any of these is the real reason. I think the closest reason is “Tucker is the Sworn Enemy of Censorship.” The Powers That Be want only news commentators who will tell the story that they want told. They don’t want the Big Pharma lies exposed or the lies behind January 6. They want Fox News to tell close to the same story that CNN and others are telling.

    • reante says:

      He is going to be the Steve Bannon of the Tulsi administration. Who is going to be her veep? I don’t have the foggiest idea. Need to start looking out for that.

      • Vern Baker says:

        Please make this happen

        • reante says:

          We know what they they know. They just have more details about what we know than we do. If we think that the smartest course of action is the general one that I’ve outlined, then they do too. Because they’re living on the same planet as us. If there’s an even smarter course of action out there that we haven’t been able to pattern because we don’t have anywhere near as much information relative to the Big Picture as we think we do, then they’ll pick that one. And so much the better. But Im confident that that’s not the case.

          There are two basic things that they have to do under the DA. They have to downsize the herd without the herd stampeding, and they have to decommission any ticking timebombs of industrialism that could threaten their own existence. Once the decommissionings have been completed, then avoiding a stampede becomes less critical because they can bugout as necessary, but I’m sure their preference will always be to manage things as best they can because that’s their cultural identity.

    • Rodster says:

      “I don’t think any of these is the real reason. I think the closest reason is “Tucker is the Sworn Enemy of Censorship.” The Powers That Be want only news commentators who will tell the story that they want told. They don’t want the Big Pharma lies exposed or the lies behind January 6. They want Fox News to tell close to the same story that CNN and others are telling.”

      I basically said the same thing on another forum and it reinforces what Chris Hedges said: “We now live in a nation where doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the press destroys information, religion destroys morals, and our banks destroy our economy ”

      • Unfortunately, it is getting to be the way Chris Hedges described the problem.

      • reante says:

        It’s the de-;in Degrowth Agenda. Shhh don’t tell anyone.

      • Fast Eddy says:

        Keep in mind … he did not have the authority to say anything without the approval of the Ministry of Truth…. if he were to go off script he’d be immediately shut down ‘due to a technical difficulty’ and walked out the door.

        This is all being orchestrated

    • Student says:

      It was beyond my expectations that he was allowed to speak for so long.
      My thought has been always: if the western world will recover and will be really different from China, Russia, Middle East Countries etc. it is because probably only US has the possibility to question itself and reborn.
      But I think that we are not different from them.
      They have a system in which government just say: ‘you do like that, and you simply have to obey otherwise you will be destroyed’.
      While, we have a system that makes a lot of efforts and spend a lot of money to convince people, manipulate them, hide things and so on.
      This second system has succeeded till now to convince people to live in a ‘free’ and ‘democratic’ world, although it has been drastically changing from the rigmarole of Covid-TrumpElections-experimentalVaccines-Ukraine on.
      My impression is that this second system needs such a surplus of money and energy to convince people that probably will not have the same possibility to do it in the future.
      We are leaving in an irreversible change of system.

      • Ed says:

        The vax exposed the lie “you have rights”. In fact we have no rights we live at the whim of “the system”.

  19. Ted Kaczynski says:

    King “Bluetooth”, United Denmark and Norway

    A group of hobby metal detectorists discovered a hoard of Viking silver near the ruins of the Viking castle Fyrkat, in Hobro, North Denmark.
    The trove contained over 300 items, including Danish, German and Arab coins, as well as silver balls, and a ring pin.

    The find — made in autumn last year — dates back to the 900s, when King Harald “Bluetooth” (Blåtand) Gormsson, who united Denmark and Norway. His nickname, the result of a prominent dead tooth, inspired the widely used wireless technology between electronic devices, according to The Viking Herald.

    Archaeologist and museum inspector at North Jutland Museums Torben Trier Christiansen told Danish news site TV2 Nord that “there is no doubt” that the coins are linked to the king, adding, “We are looking forward to delving into that history.”

    Christiansen said in a statement that the discovery was “a fantastic story” but to find them abandoned in a settlement only a few miles Haralds Blåtand’s Viking fortress Fyrkat was “incredibly exciting.”

    The three people who discovered the treasure trove — Jane Foged-Mønster, Louise Stahlschmidt and Mette Norre Bækgaard — told TV2 Nord that they had been on a metal-detector holiday when they made their amzing discovery.

    Per TV2 Nord, the finds will go on display at the Nordjyske Museer in Aalborg, near where the hoard was discovered, before going on to be displayed in the National History Museum in the capital city of Copenhagen.

    But these finds aren’t the end of the discoveries, with archaeologists from the North Jutland Museums being given the grant to investigate the site further.

    Although it is not believed there will be more silver at the site, it is thought that there may be ancient buildings to discover.
    “I hope we find the remains of a large Viking hall,” Christiansen told TV2 Nord.

    • 3 nordic metal detectoring wenches, each one a Greta Garbo lookalike I have no doubt

      the cup of my imagination verily runneth over

      or have i watched “The Vikings” too many times?

    • Mirror on the wall says:

      Harald Bluetooth’s grandson, Cnut, went on to be ‘King of all England, and of Denmark, Norway, and part of Sweden’.

      William the Conqueror was descended from Cnut’s bother in law, Richard, so not a direct relative.

  20. Mirror on the wall says:

    Team Biden is ‘quietly preparing’ for the failure of the UKR spring offensive.

    Biden is publicly still ‘vowing’ that UKR will win against Russia, but USA/ NATO/ EU have failed to provide UKR with anything like the armaments that they would need to stand a chance.

    Team Biden’s main concern now is about the criticism that he will face from critics at home, and from allies abroad, when the UKR offensive fails.

    Europe is suffering high energy prices and high costs to the economy. There is liable to be pressure for negotiations and a ceasefire when the UKR offensive fails.

    UKR is yet another complete fiasco for USA, and the damage to the dollar dominance and to USA hegemony from the ‘sanctions’ fallout is liable to be deep and lasting.

  21. Tim Groves says:

    Oh, the hard times of old England!

    From Spiegel International:

    Things aren’t going well for the United Kingdom these days. For the past several months, the flow of bad news has been constant, the country’s coffers are empty, public administration is ineffective and the nation’s corporations are struggling. As this winter came to an end, more than 7 million people were waiting for a doctor’s appointment, including tens of thousands of people suffering from heart disease and cancer. According to government estimates, some 650,000 legal cases are still waiting to be addressed in a court of law. And those needing a passport or driver’s license must frequently wait for several months. Boarded up windows and signs reading “To Let” and “To Rent” have become a common sight on the country’s high streets, while numerous products have disappeared from supermarket shelves. Recently, a number of chains announced that they would be rationing cucumbers, tomatoes and peppers for the foreseeable future.

    Last year, 560 pubs closed their doors forever, with thousands more soon to follow, according to the industry association. Without Oxfam, the Salvation Army and other charitable organizations that operate second-hand stores, numerous city centers would have almost no shops left at all. Last week, the International Monetary Fund forecast that in no other industrialized nation would the economy develop as poorly as in Britain this year. Even Russia is expected to end up ahead of the UK. Whereas the number of billionaires in the UK – at 177 – is higher than it has ever been, millions of Britons have slid into poverty. Newspapers and television channels are full of cheap recipes and shows like Jamie Oliver’s “£1 Wonders.” Since December, hardly a day has passed without a strike by bus drivers, medical workers, teachers, public servants, university employees or rail workers. Last week, assistant doctors across the country went on strike for four days, with the media calling on the populace to avoid all activities that could result in injury.

    For many, the situation is reminiscent of the 1970s, when high debt, punishing inflation and widespread protests brought the country to its knees – leading Henry Kissinger, who was U.S. secretary of state at the time, to grumble from across the Atlantic: “Britain is a tragedy, reduced to begging, borrowing and stealing.” To be sure, after two years of pandemic and one year of war, the rest of Europe isn’t doing particularly well either. But nowhere is the feeling of having “lost the future” stronger than in Britain, according to the public opinion pollsters from Ipsos. In 2008, the year of the banking and financial crisis, 12 percent of people in the UK believed that their children would be worse off than them. Now, that number is 41 percent, Ipsos has found. One significant reason for that pessimism is the fact that many simply no longer trust their speechifying politicians in Westminster to get much done. The Tory party, which has been in power now for a dozen years, has gone through four prime ministers since 2016 alone.

    • Basically, the problem now, as in the 1970s, was lack of access to inexpensive energy. Back in the 1970s, there was energy available, but it was expensive energy. Now the problem is two fold: Energy is unreliable besides being expensive. Even imported LNG is not very reliable. It might be there, or it might not be. There hasn’t been enough storage built for LNG, and exporters may or may not be in business selling LNG.

    • Yorchichan says:

      I had a member of the UK Cabinet in my vehicle last week (twice). Suspecting he was an important person, I asked him his position. When he told me, I immediately said “How long do we have until total financial collapse, is it weeks or days?”. He laughed, as did his aide, and said “Never”. I was much reassured. /sarc

      He was surprisingly personable with no green scales to be seen.

      • don’t know if you ever watch ‘yes minister’

        they always got their information from each other’s drivers.

        • Yorchichan says:

          I watched Yes Minister a long time ago, but I can’t remember details.

          The only information he sought from me were places to visit if he returned to York with his wife. Lots of things I’d have liked to ask, and I have a way of asking questions lightheartedly so as not to offend, but I didn’t get much opportunity and, let’s face it, he’s hardly likely to reveal state secrets to a taxi driver.

      • Fast Eddy says:

        Nice! He probably believes that.. being a Circus Animal

    • Mirror on the wall says:

      UK is doing worse than everywhere.

      • If we believe the IMF, the UK is the only major economy in the world facing a recession this year.

        Perhaps the IMF’s forecasts are not the best.

    • Financial services don’t have a great future when interest rates are high. Furthermore, long term debt is becoming an increasing problem for holders of this debt. Asset prices must necessarily fall, and default rates rise.

      Not being part of the EU becomes an increasing problem. Intermittent electricity doesn’t work either.

    • The English made the choice to not join the continent and destroy all memories of fine folks like Nelson, Wellington and Arthur Harris, enemies of European Civilization, but chose to keep them.

      Let them live with these relics and stay cold.

    • zzr600 says:

      UK steel annual production: 7M tons
      A single steel site in India is planning to produce 50M tons in a few years.
      Enough said

      • 1/200 years ago, India had few or no iron mines

        1/200 years ago, the UK was covered with iron and coal mines

        now theyve all gone

        That’s the root of the problem

    • Fast Eddy says:

      Now they get to feel what it’s like to be 3rd world.


  22. Student says:

    (Jerusalem Post)

    ”’High bio-hazard risk’ in Sudan after laboratory seized, WHO says
    The WHO’s Nima Saeed Abid said technicians were unable to access the National Public Health Laboratory to secure the biological materials.
    There is a “high risk of biological hazard” in the Sudanese capital Khartoum after one of the warring parties seized a laboratory holding measles and cholera pathogens and other hazardous materials, the World Health Organization said on Tuesday.”

  23. Fast Eddy says:

    EVERYTHING.. and I do mean EVERYTHING…

    Is fake…

    Can we agree on this?

    • we can all agree on one fake—thats for sure eddy

    • Sam says:

      Bidet just announced that he is running again if it’s him against the orange man then you might be right. Especially if bidet wins….🙄. Just another sign of the collapse. People from both sides want me to swoon in the mud with them but I just tell them we are at the downfall. They used to just laugh at me now they are getting angry next they will be scared

      • Fast Eddy says:

        This is like the the fake wrestling … and the two unbeaten steroid monsters are set to fake battle in a ring made of foam … on a pay per view basis…

        Actually much much bigger… we’ve got the two biggest clowns in the history of politics about to collide in the ring… cartoon characters… ultra imbeciles…

        This defines the term shit show… and CNNBBC will be heating up with pundits screaming at each other about the merits of the candidates…

        This is the Jerry Springer show … this is … IDIOCRACY…. We have arrived!

        The MOREONS will be Entertained! Two imbeciles battling for the position of The Most Powerful Man on Earth!… the Trannies will be flashing their sacks to the kiddies while parents clap and dance along … the horrific maiming surgery will be on offer to children who want to swap genders… the gendarmes will welcome in thousands more illegal immigrants by the day… shoplifting will continue to be encouraged…

        Mass D across the board.

        The MOREONS will experience thrills, chaos, confusion, despair …

        And then… and then… out of nowhere it will come … the Binary Poison .. the cannisters will unleashed upon the unsuspecting MOREONS — who thought Covid was done…

        And the Earth… will return to equilibrium … the birds will chirp… the wind gently blow across the plains… the lion will roar.. the hawk will soar… the crickets will chirp … a crescendo of joy — as the wicked witch will have been vanquished… the Borg and his contraptions will be nothing more than a heap of rusting metal and deteriorating concrete.

        A-f789ing-men to that!

    • “My name is Jacob Rothschild.

      My family is worth 500 trillion dollars. We own nearly every central bank in the world. We financed both sides of every war since Napoleon. We own your news, the media, your oil, and your government.

      You have probably never heard of me.”

      I am afraid that this is part of the problem. Peter Turchin says that eventually the many poor folks decide that they have had enough and rebel. There is also a desperate desire of the poor to do whatever is necessary to get themselves into the elite class. Eventually, the system falls down.

      • Sam says:

        I don’t think that’s correct about the Rothchilds. Maybe millions but not trillions… come on Gail 😲

        • Cromagnon says:

          trillions,…….easily,……ya gotta pay attention

          and no doubt fully in league with the Jinn.

        • Fast Eddy says:

          They own all central banks… their wealth is limited only by pushing keys on computers.. money is irrelevant … they own the entire world

          • Ed says:

            Eddy you are so spot on these days. They do not own things they own money.

            • Sam says:

              Prove it.

            • money is useless if there are no ‘things’ to spend it on

              and things can only be produced by an industrialised society, not a peasant society

            • Fast Eddy says:

              It’s all about power… control of the farm… $$$ is just the tool that they use to control the animals (salary)

            • Tim Groves says:

              Money is very useful even if there is nothing you can buy with it.

              For instance, you can put it on a tabletop and count it! You can pile up the coins like jenga towers! Or put a few them under the legs to stabilize a wonky table! And make origami animals out of the notes! Or wallpaper the house! Or use them as toilet paper or fire lighters! Or play Monopoly with real money!

              Hours of fun! And the possibilities are literally unlimited.

            • Fast Eddy says:

              Money to them is like air to us….

      • Fast Eddy says:

        Jacob is likely the chairman of the Elders.

        I would not be surprised if he dines on baby flesh and injects the blood of newborn babies to maintain health and vigour.

        I would if I was in his position. Who wouldn’t.

        I wonder if it turns his stomach to think that he is injecting cockroach blood?

      • And then be destroyed by state of art weaponry

        The Elites are good at destroying any challenges

  24. Student says:

    (Financial Times)

    Allies resist US plan to ban all G7 exports to Russia
    EU and Japanese diplomats say that Washington’s proposal is ‘simply not do-able’

    • Let’s hope a crazy idea bites the dust.

    • drb753 says:

      Toyotas and spare parts are plentiful in Russia. I regret buying Russian, since the electronics, quality control and finishing are inferior. But I can leave the car outside with -33C and it starts first time in the morning. My next one will be a toyota for sure.

  25. Student says:

    (Financial Times)

    Italian politics
    Italian companies suffer Russia market loss | FT Film
    The FT looks at the challenges facing Giorgia Meloni’s government as Italian households and businesses suffer over Rome’s commitment to sanctions against Russia following the invasion of Ukraine

    • Student says:

      Comment: please just be aware that the first part of the document is interesting because it talks about facts and figures of the difficulties that Italian Companies and Italians are suffering for the current situation about Ukraine-Russia.

      While the second part is just political.

      Although I don’t like any Italian party, I can tell you that the objective of the film is clearly to paint Italy as a ‘specially observed Country’ because there is the risk that the Country could stay on Russian side at any moment.

      It is the typical representation of Italy from outside.

      My impression is that they do like that maybe because if Italy changes position on European policies and Nato policies that could represent an incredible danger.

      Therefore the Country must be treated as a ‘specially observed Country’, making feel high pressure on the Country from outside.

      All the commentators are actually well known speakers of one side.

      That is a very interesting aspect of the film.

    • I am afraid that these two examples are only the tip of the iceberg. A huge number of other banks will encounter similar problems, as will more brick and mortar stores. Even home values will drop, if interest rates stay high. All asset values drop with higher interest rates.

      • Fast Eddy says:

        We are in the phase of the housing market where home owners are trying desperately to hold the line and drop their asking prices to get ahead of the curve and sell…

        Buyers smell blood in the water and they are waiting for the home owners to weaken…

        Home owners will weaken as they lose jobs and/or are punished by cost of living increases (see boiler 12k last year now selling for 18k).

        Basically we are in purgatory waiting for the Gates of Hell to open … or the Binary Poison Phase Two to pre-empt all that.

        For those who don’t buy into the planned extermination … the lies of Covid have been laid bare 1000+ times here — they gave Midazolam to people who could barely breath. That killed them and CNNBBC used that to frighten people into taking Rat Juice … by the billions.

        Surely there must be some good (or bad…) reason why they did that.

        Hint – it ain’t about $$$. That’s for f789ing sure.

        Admit it … the only logical answer is there are exterminating us – and the most likely mechanism is a binary poison. They need to plant the seed… then follow up with the kill shot.

        What else could it be?

  26. Tim Groves says:

    Talking with Neil Oliver, Dr. Aseem Malhotra offered a suggestion about why most people who take the jabs are generally satisfied with what they’ve done.

    “Why are people not awake? Why are people not looking at the evidence? Some of it is indoctrination. Some of it is willful blindness. But there’s something else which I think we haven’t talked about enough. One of the serious adverse effects from the vaccine, from Pfizer’s own trials … and in the WHO-endorsed list of potential adverse effects, is psychosis. So, some people, I think, are actually suffering from a side effect, which I would call “delusion of benefit.” So, let’s define “delusion”: a fixed, firm, false belief that is held despite evidence to the contrary.

    And the evidence is overwhelming. This vaccine is not safe, it is not effective, and it needs to be stopped and pulled now. And the longer the establishment carry on pushing this message, the longer it’s gonna take to regain trust. ”

    8 minutes 30 seconds video

    • Jan says:

      From my point of view people are suicidal.

      Austria still lives of Russian gas. Recently, the Russian ambassador announced, they will not renew contracts but look for more reliable customers.

      Austrians want exactly that! The US- and EU dependent madate vaxxers have been reelected on the regional levels.

      Is it the essence of democracy, that a suicidal majority can put the non-suicidal parts of society into risk, referring to vaxx, energy, food and war and the minority has to accept that? Or does that cancel Rousseaus’ social contract?

      Is there anything that could be done practically?

      • Cromagnon says:

        Humans are yearning to return to source. They are not aware of it consciously but since most human brin derived activity is subconscious this is no surprise. Our avatars ‘know” the truth deep down there in the programming.
        What may be unfortunate is that most will succumb at death to the simulacrum programming and go into the light so to speak.

        This will return them into the game and not to source.

  27. MG says:

    Slovakia: Nervousness in the market. Some developers have not yet sold a single apartment this year
    The market is troubled by a noticeable cooling in demand for housing.

    • Higher interest rates and tightening lending standards are likely to be an issue around the world. There is probably more uncertainty about jobs, too. Putting these things together, it is no surprise that new apartments are not selling.

Comments are closed.