“Higher for longer”…FOMC members continue to communicate their willingness to keep rates higher for longer or even raise rates if inflation worsens.What does it mean – Remember when Powell, Yellen, this administration and their “merry gang of bankers” tried to convince you inflation was transitory. Yikes!!According to B of A’s transaction data…Small business payments toward loans have risen while payments toward payrolls have declined as hiring moderated.What does it mean – As rates go up, more government bureaucracy and regulation equal higher costs for businesses, fewer jobs, and less innovation. The Fed and this administration are now dealing with the unintended consequences of bad policy forced on the American citizens.New home sales decreased 4.7% month-over-month in April…On a year-over-year basis, new home sales were down 7.7%.What does it mean – According to First Trust, “governments – federal, state, and local – have created extensive regulations on home construction, making it harder and more expensive to build. Environmental rules, zoning limits, historical preservation, the promotion of “smart growth” or “affordable housing” all impede a free market. On top of this, small businesses (which include many home builders) face incredibly complex and burdensome hurdles in managing payrolls, including taxes, rules, and regulations. COVID era policies widened the performance gap between small and big business.”Big Macs and Burrito Supremes become luxury items…According to a recent non-probability survey conducted by Lending Tree, it found that nearly 80 percent of American consumers view fast food joints as an extravagant meal.What does it mean – In 2019, a McDonald’s Big Mac hamburger cost $3.99. In just four years under this administration’s inflation inducing policies such as government handouts and student loan forgiveness, the greasy sandwich will set an American back $8.29 where I live and $7.49 on average in the U.S.In the movie Demolition Man Taco Bell wins the franchise wars. But that’s not the real story. Demolition Man may have been the instructional manual for Big Government socialists who are hell bent on destroying free markets and capitalism. Demolition Man is filled with a stream of never-ending virtue signaling, and restrictions on speech and individual liberty, Hollywood may have created Klaus Schwab’s favorite movie and playbook. Watch the below clip. Demolition Man literally brings alive the World Economic Forums (WEF) agenda in roughly two minutes.
