American Confidence in the Economy Drops to Lowest Level Since 2009, Oil Prices Climb, Gas Prices Break Records, Main Street in Serious Trouble

Joe Biden is not running this economy.  Joe Biden’s economic advisors are not running this economy.  Joe Biden’s cabinet members are not running the economy. The people running this economy are the climate change activists behind the scenes who have been elevated into positions in all economic cabinet offices throughout the administration.  This was the deal in 2020 that led to Biden’s installation.

Professional political activists, Elizabeth Warren and Bernie Sanders types, within the Interior Dept., Energy Dept., EPA and other regulatory agencies related to the energy economy are in control. Not a single operator within the system looks to the White House or executive office for guidance.  They knew they had a short window to carry out the unilateral agenda regardless of damage it does.

This is a full-throated assault on the energy industry under the auspices of the climate change agenda. And that is what is collapsing Main Street and pushing massive costs onto consumers via inflation.  That’s it. That’s the background. No one in/around the White House has any control over the consequences. That was the 2020 deal made, and the reason why Biden was selected as the nameplate.

Oil prices have shot up to $120/barrel.  Russia and Ukraine are being used as a smokescreen for the ‘Build Back Better’, or domestically, the “Green New Deal’, agenda.  The same climate agenda supported by the entire Western government alliance who bow to the altar of the World Economic Forum.

Damn the consequences, full speed ahead. Main Street citizens are collateral damage.  They don’t care. In the view of the operators, their urgent goals are bigger than our needs; and their high-minded, filled with superiority justification is, they are trying to save us from ourselves.

US NEWS – The jump of more than 50% for oil prices so far this year has been a big contributor to the very high inflation sweeping the world. Earlier Tuesday, a report showed inflation in the 19 countries that use the euro currency hit 8.1% in May, the highest level since records began in 1997. (more)

Of course, every American can feel the impact, even if they cannot identify the reasons outlined above.

WASHINGTON – Americans’ confidence in the economy has plummeted to a new low, hitting likely the lowest confidence since the end of the Great Recession in early 2009, according to a new Gallup poll released on Tuesday.

Gallup’s Economic Confidence Index (ECI) measured -45 in May, which is down from -39 in each of the past two months. (more) 

The only thing we know with absolute certainty, is that things are going to get worse.  They know how bad it is going to be, that’s why they are working to mitigate any risks to the centralized power.  That risk mitigation includes the need to consider armed citizens as a threat to the process.

There will be electricity shortages.  There will be even more “necessarily skyrocketing” increases in energy costs, both cooling and heating.  There are going to be more, even larger, food price increases and potentially some shortages.

As each unavoidable item like housing, energy, gas and food costs more, there are less dollars available for non-essentials.   Inventories on durable goods will climb as consumers hunker down with priority spending on the most essential items.  If the demand is gone, employment layoffs in the goods sector will take place.

This process, a very predictable yet unnatural outcome from the consequence of completely restructuring the energy sector which underpins the economy, is not going to get better.  There is far more downside yet to travel.

We are entering the ‘you will have nothing, and you will be happy phase.’

The sanctimonious and pontificating elite class are justifying all of this pain by saying they are trying to save the planet.

I will not eat the bugs.