• The European Central Bank (ECB) raised interest rates again today, while simultaneously promising to support further bank bailouts that might come as an outcome of raising the rates again.   In the bigger picture there are two dynamics supported by the ECB playing out.
  • The first issue is the ideological effort to change the economic models based on climate change.  The Build Back Better (Green New Deal) policy, a traditional energy production control effort, is being supported by the ECB effort to shrink the EU economy to meet the rate of diminished energy production.  Make the economy smaller to meet the lower energy production rate.
  • Lowered energy production (oil, coal and natural gas) has raised energy prices; this is the fuel behind supply side inflation.  The Western policy created energy inflation is hitting every aspect of the EU, US and western global economy.  The prices of all downstream goods and services have risen dramatically as a result.  The European banks are not going to stop trying to make the economy smaller just because banks are failing.  That brings us to the second issue.
  • In the bigger picture, this is an ideological quest to fundamentally change the western economic model.  Support for that change is what we are witnessing as the EU central banks continue raising rates.  Ultimately, banks being controlled by government is the necessary step to achieve the second phase of the larger plan.

Source: theconservativetreehouse.com


Janet Yellen Doesn’t Know Tax Rate to Cover Joe Biden’s Proposed Tax Hikes to Save Social Security

  • Treasury Secretary Janet Yellen admitted she did not know what the tax rate would have to be to cover President Joe Biden’s proposed tax hikes on those earning over $400,000 to save social security.
  • During Thursday’s the Senate Finance Committee hearing, Yellen vowed the president is willing to work with Congress to develop a plan to address Social Security. That plan reportedly includes raising 4.5 trillion in taxes from people making over $400,000. Biden has also pledged to fix Medicare, the national debt, and Social Security.
  • “The president in the past has proposed increasing taxes on those making over $400,000 to pay for it,” Sen. Bill Cassidy explained. “What would the rates have to be on the two percent of Americans who earn over $400,000 dollars to do Medicare, the debt and deficit, and also to address the 75 year shortfall of Social Security?”
  • Sen. Bill Cassidy, R-La., asks a question during a Senate Hearings Committee to examine community health centers, Thursday,  
  • Yellen responded by stated Biden has vowed to raise taxes on high income earners.
  • “Do you think it’s realistic he [Biden] can pay for Medicare, debt and deficit, and also address the 75 year shortfall of social by only… laying higher taxes on those who make more than two percent [in the tax bracket]?” Cassidy reiterated. “I’m sure there is a projection of how much those would have to be. Can you tell us what those rates would have to be to do everything he is saying?”
  • “I can’t tell you that,” Yellen admitted.

Source: breitbart.com