"A really efficient totalitarian state would be one in which the all-powerful executive of political bosses and their army of managers control a population of slaves who do not have to be coerced, because they love their servitude." -- Aldous Huxley, Brave New World

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Washington’s reckless spending comes with a cost to US taxpayers. While the fed may simply roll over their debt and issue new debt to pay off the old, the American public is on the hook for immediate liquidity every single year via taxation. The misconception that Biden would only target the wealthy needs to be dispelled as a recent study reveals that 63% of new audits targeted Americans earning under $200,000.

Now, Biden initially claimed he would send his troop of IRS agents to target Americans earning double that amount. The billionaire class was not targeted, as 80% of all audits were on filers earning under $1 million. Yes, there are far more taxpayers in the middle and lower brackets. However, the IRS merely claimed they would prioritize hunting higher earners; they never explicitly said they wouldn’t come after ALL Americans.

Tags: TAXES, WHITE HOUSE
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On Tuesday, we shortly commented the flash crash and the (assisted) recovery of the Japanese Yen between Friday and Monday, 26-29 April, on the GnS Economic’s Deprcon Outlook. In this entry, I will detail the reasons behind the crash, which go way back in history starting from the post-WWII growth model of the Japanese economy, leading to the the financial crash of early 1990s. They imply that the currency crisis of Japan is far from over.

Boom and bust

The Japanese economy was devastated in the Second World War, which created a need for a major reconstruction effort. Japanese also switched their model of governance to democracy, which laid the foundation for a stable society supportive of investments. The economic boom after WWII was fueled by financial regulation that kept the nominal interest rate below inflation and successful economic reforms that supported, e.g., neutral recruiting of labor and education. The mandarins at the Ministry of Finance issued ceiling on interest rates of both lending and deposit rates, which led to a notable investment boom. Export sector grew fast with the composition of the exports changing from toys and textiles to bicycles and motorcycles and further to steel, automobiles and electronics over the decades.

Japanese government began to deregulate the financial sector in the early 1980's, following a global trend. Also, in the mid-1980's, the Bank of Japan (BoJ) tried to aggressively limit the appreciation of yen (because it decreased country's trade surplus), by cutting interest rates. These led to a rapid growth in the supplies of money and credit. A financial boom ensued.

Tags: ECONOMY, JAPAN
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The situation around Ukraine and the confrontation between Russia and the West is increasingly reminiscent of a spiral of escalation. This term in international relations refers to a situation in which two sides are slowly but persistently moving towards outright war through gradual steps ostensibly aimed at containing the other side. Responsible Statecraft magazine writes about this in an article by political scientist Connor Echols.

As the conflict drags on, hawkish elements in the West and Russia have managed to force their leaders to take steps once considered sufficient to lead to further escalation.

In fact, Moscow is upping the ante with nuclear threats, and NATO and Russia are moving closer to direct confrontation as hopes for negotiations remain futile.

The mere mention by Russian leader Vladimir Putin of the risks of using nuclear weapons in response to America’s actions in Ukraine and in the world was enough to cause a nervous reaction in the West. Such statements are very worrying for Washington, which is trying to avoid any escalation of a direct war between NATO and Russia.

Tags: NATO, RUSSIA/ UKRAINE /BELARUS /CRIMEA, WAR/DRAFT/ VETERAN AFFAIRS, WMD
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Migrants filmed gang rape of Belgian teen and posted videos on Snapchat; it is the second known gang rape in the same city now revealed.

After disturbing reports of the gang rape of a 14-year-old Belgian schoolgirl by a gang of migrants sparked national outrage, a second gang rape within weeks of the first has now come to light in the Flemish city of Kortrijk

The 10 migrants accused of gang-raping a 14-year-old Belgian schoolgirl in the Flemish city of Kortrijk filmed the sexual assault on their smartphones and shared the images on the messaging platform Snapchat.

News of the heinous attack, believed to have taken place during the Easter holidays, first emerged in the Belgian press on Wednesday, but further facts have now come to light thanks to pressure from social media activists.

Tags: EUROPE, IMMIGRATION/GLOBALISM
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In a telling slip of the tongue earlier this week, Joe Biden referred to the unprecedented rise in illegal immigrants entering the US as an “influx” of “Hispanic voters.”

During an interview with a Spanish radio show, Biden was talking about the border crisis, and stated “It’s even a bigger influx now in terms of Hispanic voters, or Hispanic – Hispanic citizens, who want to become citizens.”

Webmaster addition: U.S. Code, Title 18, Section 611, makes it a crime for non-citizens to vote in federal elections, and violations can result in fines, imprisonment, or deportation.

Tags: IMMIGRATION/GLOBALISM, POLITICS/ ELECTIONS/ CORRUPTION, VOTE FRAUD, WHITE HOUSE
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North Korea will equip its military with a new 240mm multiple rocket launcher this year, state-run media said on Saturday.

North Korean leader Kim Jong Un oversaw on Friday a live-fire test of the "technically updated" version rocket system, the Korean Central News Agency (KCNA) reported.

The updated rocket launcher will be "deployed to units of the Korean People's Army as replacement equipment from 2024 to 2026.”

The KCNA said Kim also discussed ways to raise production of the new rocket launcher system and shells to "the highest level."

A "significant change" will be soon made in increasing the army's artillery combat ability, it added.

Tags: KOREA, WAR/DRAFT/ VETERAN AFFAIRS
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Venezuela's armed forces have built a temporary bridge over the Cuyuni River, which marks a border between the Venezuelan territory and the disputed region of Essequibo, Domingo Hernandez Larez, the strategic operational commander of the National Bolivarian Armed Forces of Venezuela, said on Sunday.

He added that Venezuela would build schools, universities, medical centers in this territory.

"Territorial defense engineers crossed the Cuyuni River on May 10 over a military bridge to bring harmony and progress to our Guyana Essequibo territory," Larez said on his social media.

Tags: SOUTH/CENTRAL AMERICA, WAR/DRAFT/ VETERAN AFFAIRS
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Democrat Vice President Kamala Harris has railed against the “activist” Supreme Court which she claims is a threat to Americans’ “fundamental freedoms.”

Harris made the wild allegations during an interview published Thursday, Fox News reported.

Interestingly, she also insisted that she’s not an “alarmist.”

The VP has been outspoken against the court following the overturning of Roe v. Wade abortion.

Harris has made abortion rights her particular crusade since the 2022 decision and has taken aim directly at the high court.

“This court has shown itself to be an activist court,” Harris said to the New York Times.

Tags: POLITICS/ ELECTIONS/ CORRUPTION
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A part of a ten-story apartment building in the southwestern Russian city of Belgorod collapsed after being hit by fragments of a downed Ukrainian missile, killing at least eight people and wounding about 20.

Casualty figures are expected to rise as more people are believed to have been trapped under the rubble.

Below are key facts about the incident, known at this point.

Tags: RUSSIA/ UKRAINE /BELARUS /CRIMEA, WAR/DRAFT/ VETERAN AFFAIRS
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Waging Peace is designed to bring Americans to "remember" the good of US Russian relations in the spirit of the meeting on the Elbe River.

Tags: RUSSIA/ UKRAINE /BELARUS /CRIMEA, WAR/DRAFT/ VETERAN AFFAIRS, WHITE HOUSE
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After high expectations for U.S. electric vehicle (EV) charging infrastructure, following big promises from market leader Tesla, plans have come crashing down as Musk scraps the company’s expansion scheme. Tesla announced this month that it would not be going ahead with plans for a major EV charging expansion programme. This followed hundreds of layoffs in April, which led many to question Tesla’s plans for sustained growth in the U.S. and global markets. The question now is whether other automakers will step in to roll out their own charging infrastructure across the country and whether this will lead the EV expansion to be severely delayed. 

This month, Tesla’s CEO Elon Musk reversed the company’s plans to massively expand EV charging infrastructure in the U.S. This followed the lay-off of 500 employees in a team that was developing plans for U.S. charging infrastructure. The announcement has thrown the EV industry into turmoil and automakers question whether the U.S. charging infrastructure will expand at the pace needed to match rising EV uptake. It is uncertain whether other companies can step in to develop the charging capacity needed to ensure EV uptake continues to increase in the U.S. market. 

Tags: CLIMATEGATE, ECONOMY
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Newly released documents about a Washington, D.C. training program for illegal immigrants to vote in local elections prove the need for the SAVE act, according to Rep. Chip Roy.

'The radical progressive Democrats in the DC city government couldn't be prouder of the fact that they're going to have illegal aliens voting in their elections; yet, they want us to believe that it's going to stop there, and that none of them are going to try — or be encouraged — to illegally vote in federal elections? Give me a break,' Roy, R-Texas, told DailyMail.com.

'Without the verification measures in the SAVE Act, we're basically asking people who are already breaking the law by coming to the US illegally to abide by the honor system. No way; American elections should belong to American citizens, period.'

Roy is the lead sponsor of new legislation that will soon hit the House floor to prevent illegal immigrants from voting in federal elections - a practice that is already illegal and thought to be rare. 

Webmaster addition: U.S. Code, Title 18, Section 611, makes it a crime for non-citizens to vote in federal elections, and violations can result in fines, imprisonment, or deportation.

Tags: IMMIGRATION/GLOBALISM, POLITICS/ ELECTIONS/ CORRUPTION, VOTE FRAUD, WHITE HOUSE
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Tags: DICTATORSHIP, IMMIGRATION/GLOBALISM
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Tags: DICTATORSHIP, POLITICS/ ELECTIONS/ CORRUPTION, SCIENCE/ HEALTH/ CLIMATE/ NATURE
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You can get a really good idea how the U.S. economy is doing by watching restaurants in your area.  When the economy is booming, restaurant parking lots are full and chains are feverishly establishing new locations.  But when the economy is struggling, restaurants get a lot less traffic and poor performing locations get shut down.  Sadly, in 2024 it appears that a “restaurant apocalypse” has started to sweep across America.  Most people have very little discretionary income to spend as a result of our cost of living crisis, and that is particularly true for our young adults.  Americans under the age of 40 love to eat out, but these days most of them are experiencing financial stress, and this is having an enormous impact on the restaurant industry.

Tags: CURRENT EVENTS, ECONOMY
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Throughout this year, the prevailing narrative has been one of a robust economy, with assurances of widespread prosperity: low unemployment, rising wages, and increased earnings for the populace. However, from my perspective, this portrayal doesn’t resonate with reality

 

The US economy is officially in stagflation, possibly worse, and I believe it’s in a recession but no-one will admit it.

Tags: ECONOMY
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Hospitals are changing the way they operate — no pun intended — and it’s putting some patients’ health at risk.

It used to be common practice for hospitals and other medical facilities to calculate costs and send bills to patients after they’d completed the important part, i.e. treating the patient.

That’s less true today than it used to be, according to The Wall Street Journal.

Collecting payment in advance is more and more common at medical centers, and while that saves hospitals time and money collecting on bills later, it means that some patients don’t get the care they need when they need it, because they can’t come up with the cash up front.

“Those who can’t come up with the sums have been forced to put off procedures,” the Journal reported Thursday in an article titled “Hospitals Are Refusing to Do Surgeries Unless You Pay In Full First.”

Webmaster addition: It's all about the Benjamins!

Tags: CONSUMER RIGHTS / PRODUCT REPORTS, SCIENCE/ HEALTH/ CLIMATE/ NATURE
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New Jersey Democrat Congresswoman Mikie Sherrill posted on X that President Trump should “go back to court” in response to Trump’s massive Wildwood, New Jersey rally on Saturday, which was attended by over 80K people. Rep. Sherrill’s choice of words “go back to court” is vital because Sherrill is a client of Judge Merchan’s daughter’s firm, Authentic Campaigns, whose website describes its services as “a comprehensive provider, we pride ourselves on being your ultimate destination for all things digital. With a proven track record of collaborating with numerous partners.”  Given Sherrill’s post and Authentic’s services, it looks exceptionally likely that Loren Merchan is using her father’s trial to write attack posts on Trump for her clients. This takes Judge Merchan’s conflict of interest to a whole new level. Laura Loomer exclusively reported that Judge Merchan’s daughter, Loren, is the partner and part-owner of Authentic Campaigns, a firm whose “featured client “is the Biden-Harris Campaign. The Left’s lawlessness in the name of “getting Trump” is reaching a crisis level. 

Tags: POLITICS/ ELECTIONS/ CORRUPTION
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U.S. military aid is reaching Ukraine as that nation's military strives to blunt Russian attacks in the Kharkiv region, said Sabrina Singh, deputy Pentagon press secretary. 

The Russian attacks on Kharkiv — Ukraine's second-largest city — were not unexpected, Singh said today, and Ukrainian service members are fighting furiously to blunt the Russian incursions. 

U.S. systems are again reaching Ukrainian service members after Congress approved a budget supplemental aid package on April 24. President Joe Biden announced a $1 billion assistance package at that time to meet Ukraine's critical security needs. On Friday, the United States announced another tranche of $400 million in aid.  

Tags: RUSSIA/ UKRAINE /BELARUS /CRIMEA, WAR/DRAFT/ VETERAN AFFAIRS, WHITE HOUSE
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After the head of the United Nation’s atomic watchdog agency warned that Iran has enough uranium to produce "several" nuclear bombs, a firebrand Iranian lawmaker declared on Friday that the Islamic Republic of Iran possesses atomic weapons.

"In my opinion, we have achieved nuclear weapons, but we do not announce it. It means our policy is to possess nuclear bombs, but our declared policy is currently within the framework of the JCPOA," Ahmad Bakhshayesh Ardestani told the Iran-based outlet Rouydad 24 on Friday, according to an article published by the independent news organization Iran International in London.

The JCPOA is an abbreviation for the Joint Comprehensive Plan of Action, the formal name for the Iran nuclear deal. President Trump withdrew the U.S. from the JCPOA in 2018 because, his administration argued, the accord did not stop Iran’s drive to build atomic weapons.

 The JCPOA provides massive economic sanctions relief to Iran in exchange for assurances it will not, within a limited time period, build a nuclear weapon.

Tags: IRAN, WMD
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In a telling slip of the tongue earlier this week, Joe Biden referred to the unprecedented rise in illegal immigrants entering the US as an “influx” of “Hispanic voters.”

During an interview with a Spanish radio show, Biden was talking about the border crisis, and stated “It’s even a bigger influx now in terms of Hispanic voters, or Hispanic – Hispanic citizens, who want to become citizens.”

Tags: IMMIGRATION/GLOBALISM, POLITICS/ ELECTIONS/ CORRUPTION, VOTE FRAUD, WHITE HOUSE
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China has warned “relevant countries” against creating further obstacles for Palestine’s membership to the United Nations after the General Assembly voted by a wide margin to grant new “rights and privileges” to Palestine.

Chinese Foreign Ministry spokesperson Wang Wenbin said on Monday that Beijing calls on “relevant countries not to continue to stand in opposition to the international community's moral and human conscience.”

China urges countries “not to further obstruct resolutions on Palestine's accession to the UN,” the official said.

"The Chinese representative has already comprehensively elaborated our position in the interpretative speech following the voting."

Tags: CHINA/TAIWAN, PALESTINE, UN
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