Peter St Onge, Ph.D.
@profstonge
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Daily Videos on Economics and Freedom | Economist, former professor, ex-bartender | Articles, Videos, Podcast at
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Housing costs hit new record of $2,775 per month.
That's almost double since the pandemic -- and the inflation.
Housing costs are now nearly half of median family income -- for housing alone.
As a result, it now takes $110,871 in annual income just to qualify for the median…
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Sanity in Sweden as government abandons “renewables” for nuclear.
“The Swedish people wish to ground their economy in an energy source that is physically sound and secure, unlike renewables which are neither.”
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I feel like the government should not have a goal to reduce human population 🤔
KAMALA HARRIS: “When we invest in clean energy and electric vehicles and REDUCE POPULATION, more of our children can breath clean air and drink clean water.”
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“Majority of Covid Hospital deaths were due to untreated Bacterial Pneumonia.”
The totalitarian groupthink imposed on doctors, scientists — on all of us — these past 3 years will go down as one of the most murderous government crimes in history.
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January: "Nobody's banning your gas stove, conspiracy theorist."
June: "DOE rule may block 50% of current gas stove models."
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I'm beginning to think Dems aren't really reading the room.
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"Bloodbath" of layoffs in mainstream media as 20,000 fake news activists must now learn to install drywall.
What's driving it? A collapse of trust.
A record 40% of Americans have zero trust at all in corporate media.
Instead, Americans are turning to alt-media on X/Twitter,…
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Only 10% of the $7.5 trillion spent during Covid went to health.
Where did the rest go? To hand-outs and crony payments that funded the institutional left currently trying to enslave us.
So your local rioters, hand-gluers, and that army of "fact-checking" censors are now fully…
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The Great Reset is dying, with EV’s leading the way.
Ford just slashed production of its much-hyped electric F-150 after losing $5 billion on EV's.
Volvo’s cutting off its EV division.
Apple just announced they’re giving up on EV’s after plowing $10 billion into unicorn farts.…
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In case you were thinking of retiring some day, bad news from Janet Yellen:
Social Security and Medicare are now underfunded by $175 trillion.
That comes to roughly $1.4 million per American household.
There are only 3 solutions:
- slash beneficiaries
- massively hike taxes,…
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Bidenomics downgrade as the Bureau of Economic Analysis revises down the last 3 years of economic data.
Turns out inflation was higher. Growth and income was weaker. And federal spending is now replacing the consumer.
Gems include $1.1 trillion in vanished savings, a 9-sigma…
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Republicans are trying to sneak in a $155 billion bill that combines welfare for illegals with crony corporate tax cuts.
All disguised as "tax relief for families" 🤡
Dems, of course, are only too happy to play along and fleece the voters.
Welcome to America's ruling…
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China is in default on $1 trillion it owes US citizens and Washington does nothing.
That means China owes us more than we owe them. Yet they don't pay a dime of interest while we send $50 million a day to China.
The debt comes from gold bonds when the Communists took power.…
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Another "Blockbuster" Jobs report.
Courtesy of the most creative statisticians government money can buy.
Half the jobs are fake. The other half are government jobs. And there's been zero new jobs for native-born Americans since... 2018 🤯
How do they get away with it?…
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Mayor of Chicago announces city-run grocery stores to replace the real ones fleeing the city due to predatory city government, collapsing social order, and industrial-scale shoplifting.
It’s worth noting the Soviets tried this and got food shortages. And they put shoplifters in…
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UPS to lay off 12,000 just months after accepting a new union contract paying deliverymen $170,000 per year.
Unions killing jobs 🤡
BREAKING: UPS, $UPS, to cut 12,000 jobs after what its CEO called a "difficult and disappointing" year.
The company has stated that they are looking to cut $1 billion of annual costs.
UPS stock is currently down 6% after the announcement.
Over the last 3 months, layoffs have…
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Javier Milei racks up a big win, balancing a massive 12-year budget deficit in just 9 weeks.
Showing spineless Washington Republicans how it's done 🫡
Milei's clearing the way to ending Argentina's hyperinflation nightmare and decades-long stagnation. Despite bitter resistance…
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Nigeria gives up on its deeply unpopular CBDC.
It’s not inevitable. None of it is inevitable. Hold the line.
In a nationwide referendum, 99.5% of Nigerians rejected a CBDC. But they forced it anyway.
Leading to nationwide unrest as physical cash was cancelled and the poor had…
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California rolls out its latest bit of insanity: a wealth tax.
It would effectively confiscate roughly one third of the assets of affluent Californians. Obviously chasing them out of the State.
Why are they doing this, aside from old fashioned envy? Because California's facing…
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Argentina populist pulls off "Shock Win," wants to abolish 80% of government 🥳
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California is going bust, turning a $100 billion surplus to a $68 billion deficit in just 2 years -- with another $87 billion to come.
In return, Californians got homeless encampments, broke-down windmills, and Mad Max cities where Kleenex boxes need to be locked up.
The few…
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Excluding everything you buy, inflation is doing amazing 🤡
The war on inflation is over. We won, at very little cost
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The Davos elite think Trump will win. In fact, they think populism will win across the West.
So they're doing everything they can to lock in their revolution, to insulate it from the voters.
But it's not working -- already some of their biggest rats are jumping ship.
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Finland throttles nuclear plant because energy got so cheap it was negative price.
Sure, we could just use nuclear and not do anything about "climate change." But then how would all the green activists get taxpayer money? 🤔
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What happens in the first Stages of Dollar Collapse
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Americans are "slaves" to the federal debt.
Interest on federal debt now soaks up 40% of income tax — by far the largest part of federal revenue. Toss in new debt and it’s closer to 80% of income tax.
All while sky-high interest rates automatically grow debt interest day by day…
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How to End the Fed?
Since America's founding, we've had 4 central banks. We shut down 3. One to go.
The last time was Andrew Jackson, a firebrand populist the elite hated as much as they hate Donald Trump.
The central bankers fought back hard — and they fought dirty.
But…
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CEO of
@Heritage
at Davos 🫡
My message to the self-appointed global elites: Your time is up.
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CDC warns vaccination is plunging across the board.
As
@zerohedge
adds, "Maybe forcing everyone to take a rushed, experimental vaccine that you lied about wasn't the best strategy?"
They squandered an astounding amount of trust. It'll take decades to earn back, maybe never.…
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Fresh GDP numbers came in and it was a blowout.
The kind of blowout only $2.7 trillion of deficit can buy. While the real economy crumbles.
To see why, in the past 12 months the federal deficit increased by $1.3 trillion. Yet we only got half that in GDP. In other words,…
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“The Coming Green Energy Bailout”
Wind farms are pulling a mass bait and switch with price hikes of 48% to 64%. Reneging on those cheap promises of cheap energy.
So they took your money to build it. Now they'll take more every month to keep it going.
Meanwhile, Texas plunges…
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Universal Basic Income coming to Canada.
Canada hits the loot-the-treasury stage, set to hand everybody $2,000 per month whether they work or not.
This will drive inflation, it will destroy the treasury, and it will convert millions of Canadian workers into permanent parasites…
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Turns out all the new jobs are part-time. And none of them are going to natives.
Last month we got yet another "blockbuster" jobs report -- this time 300,000 new jobs.
And, once again, it's BS under the surface.
We actually lost full-time jobs -- 6,000 of them.
And natives…
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People don’t believe government inflation statistics. And they’ve got the grocery receipts to prove it.
Media laughs, but it turns out the widely-respected “Big Mac Index” says inflation has been almost twice the official government numbers for at least 20 years.
That means…
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America's Farmers are getting wiped out.
Leaving hollowed-out communities that rival the rust-belt.
According to the USDA, we’ve lost 140,000 farms just in the last 5 years.
What’s driving it is inflationary costs, falling revenue, and green mandates.
One new rule alone, on…
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Turns out half the jobs were fake.
Worth noting the WSJ estimates over half of new jobs were government or welfare. Makes you wonder if we gained any real jobs at all 🤔
Putting the BS in BLS? Quarterly census has 332k private sector job gains in Q2 '23 vs. 603k increase in nonfarm payrolls from monthly jobs reports - which were already revised heavily downward; explains why people hate this economy: job gains roughly half the advertised figure
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Tens of thousands of mainstream journalists laid off in what's being called an "Extinction Event" for corporate journalism.
Of course, that's great news for regular Americans given mainstream journalists have become activists whose main purpose is gaslighting voters.
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Turns out the "Elite" really does hate you.
New poll finds the globalist one percent have political views unrecognizable to regular Americans:
They think people have too much freedom and the government too little power.
They think teachers -- not parents -- should raise kids.…
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Half of all American workers now make under $41,000 per year.
That comes to $3,400 per month.
Given the median rent is $1,978 and used car payment is $528, that leaves precisely $894 for everything else -- food, utilities, medical insurance and premiums, clothes, car repairs,…
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Are we living the Fall of Rome?
New York cuts police budgets to pour $12 billion into migrants. Adding to New York’s 80,000 homeless.
While we spend $100 billion on the Circus in Kiev.
Edward Gibbon’s 1788 book on the fall of Rome laid out the path taken by collapsing empires:…
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Apparently one in three climate-tracking weather stations don't actually exist. Yet they keep reporting temperature data "like magic."
The data is BS. And they're hoping to ride it to take over the world.
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UN demands $150 trillion to stop global warming 😂🤡
That's roughly half the accumulated wealth of humanity since the dawn of time. And going by past form it will only go up.
"Climate" has been one of the most successful taxpayer fleecings in history. And they're only getting…
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Canadian living standards could fall dramatically in the next few years, leading to widespread civil unrest.
So says Canada's FBI in a leaked secret report, adding it could be "the end of abundance" in Canada.
Canada's had a rough decade under Trudeau, to the point the average…
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Blackrock wants $4 trillion from your retirement accounts to build rusting windmills in third world jungles.
Because tens of trillions in taxpayer dollars just aren’t doing it for the weather fairies.
The money would come from a “blended finance” model where subsidies push…
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The “it’s not a recession” argument hinges on one number: 3.8% unemployment.
But it turns out counting missing workers takes unemployment to almost 7%.
While almost half of new jobs are either part-time or double-counting.
The jobs we do have are dominated by gig-work,…
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The Federal Reserve just reported its largest loss in history. By Far — $114 Billion dollars
But don’t worry — you’ll be covering it.
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After bureaucrats destroyed Maui, DC holds relief money hostage for Ukraine.
They don’t work for you.
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NY Fed warns of mass defaults as household debt hits a record $17.5 trillion.
That's up $3.4 trillion since the pandemic -- almost $30,000 per household. On top of $10 trillion in new federal debt -- almost $80,000 per household.
In all the average American household is now…
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The uniparty just crapped out a "border deal" that trades war money for amnesty for million of illegals while locking our open borders into law.
The welfare-warfare state in full effect.
The long game is replace Americans with a brand new crop of voters who, going by history,…
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Powell on 60 Minutes: We screwed up.
With $34 trillion in debt destabilizing the financial system, Jerome Powell finally admits the obvious: That federal spending is "unsustainable."
Of course, he was a big part of that, with the Fed printing most of the Covid $7 trillion.…
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Paper money turns government from parasite into predator.
Aside from stealing your life savings and launching depressions, one of the nastier features of paper money is what it does to governments.
Because once a government can print what it likes, it no longer needs taxes.…
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CNN viewers drop to new low: 345,000.
For perspective, my daily videos get twice that and I'm a random guy filming on an iphone 🤯
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Does the economy need migrants?
The left claims we need millions of unskilled migrants to avert a catastrophic labor shortage.
In truth, migrants do nothing for labor shortages. Because they consume as much labor as they produce, from dentists to mechanics to social workers.…
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In a sign of what's coming to America, Canadians are getting crushed by taxes, inflation, and housing costs that turn middle-class salaries into barely scraping by.
In short, Trudeau has delivered West Virginia wages with houses that cost a million dollars and taxes that would…
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“Perfect Storm” is going worldwide:
Europe and UK are on the edge of formal recession. China's collapse continues. And the US is settling into stagflation: stagnant growth and rising prices.
The crash is worldwide because the cause was worldwide: printing trillions to bribe…
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The lying sociopaths at CNN running their routine on
@RobertKennedyJr
Wow!
CNN caught red-handed lying about Robert Kennedy’s record by selectively editing a clip.
RFK Jr.’s campaign put out this video showing the full context of his statement next to the version CNN aired, which mischaracterises part of his speech to mean something he didn’t say.
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Why are Americans so down on the economy when official numbers say jobs, GDP, and consumer spending were holding up?
Simple: The statistics aren't designed to inform, they're designed to hide the truth.
Accounting for the games they play, joblessness is near 2008 levels,…
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It's a big club and you ain't in it.
The economic "Deep State" that runs our economy showed some cards this week.
Separate leaks from the Federal Reserve and the data-cooking Bureau of Labor Statistics suggest insider trading and a politicized Fed that tries to dictate who runs…
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US Steel -- once the largest company on earth -- is being sold for scrap to Nippon Steel. Thanks to a federal regulatory and trade agenda that is wiping out what remains of honest work.
Back in the 80's this would have been the story of the year. Today it's just another random…
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Great clip from President Bukele how the international organizations warned him that cracking down on crime would crash the economy -- gangsters are jobs, according to them.
Yet he persevered, and it turns out freeing the economy of predators makes it grow even faster🫡
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Inflation is back.
After months of mainstream victory laps, new inflation data is soaring. It almost doubled the year-ago, and almost tripled the previous month.
Why? Simple: They never cut Federal spending.
In fact, it soared. Giving us faked GDP and jobs numbers, and now…
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Fed admits they caused the inflation.
AOC isn’t buying it, maintains inflation is actually “right-wing propaganda.”
A new paper from the Fed finds the runaway inflation of these past two years had nothing to do with corporate profits.
Instead, as we've said, it was caused by…
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The rise of the "Welfare Industrial Complex"
Why are GDP and jobs defying slowdown predictions? Because most new jobs -- 56% -- are disguised government spending.
In states like Illinois and New York, they make up between 113% and 121% of new jobs.
In other words, the rest of…
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With fresh Ukraine bills blocked, Europe moves to seize $300 billion from the Russian Central Bank and hand it to Kiev for weapons.
If this goes through, it could further threaten faith in the Western financial system.
And it could accelerate the flight from the dollar -- and…
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Hardship withdrawals from 401k retirement accounts hit a fresh record. Up 30% on the year and tripling the pre-pandemic rate.
1 in 7 Americans now has a loan against their 401k. Nearly half borrowed to avoid foreclosure. With medical bills coming in
#2
.
With household debt also…
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Nigeria gives up on CBDC after endless nationwide protests.
Bottom line, it's not inevitable. None of it is inevitable. Hold The Line 🫡
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Tens of millions of Americans "Doom Spending" their way to oblivion -- one in four.
Especially the young, who are apparently giving up on buying a house or starting a family and taking cruises instead.
The gutting of the Middle Class has been going on for 25 years now -- ever…
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Retail sales crash as the American consumer hits a wall.
Sales fell at an annualized 10% rate 🤯
As Zerohedge put it, soft-landing is morphing into crash-landing.
Despite media gaslight, consumer sentiment has been recession level for over a year.
Unsustainable debt kept it…
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California Bans Low-Skill Jobs with new $20 minimum wage for fast food workers.
Mass layoffs are already being announced, while major chains pour money into store automation so they can keep running without workers.
Fast food is only the start; California's already going after…
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Fiscal collapse accelerates as Treasury issues $7 trillion of debt in just 3 months.
That matches the worst of Covid -- no pandemic needed. And it's double the previous record that had stood for 231 years.
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Biden blames companies for inflation, accusing them of "price gouging" for raising prices to cover inflating costs.
Once they start with "price gouging" it's a sign that government's going from clown to predator.
Nixon tried it in the 1970's and it was a disaster. FDR tried it…
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Such talent yet she chooses to Serve the People 🫡
Nancy Pelosi (+65%) literally beat every Hedge Fund in 2023, legend💀
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The SEC should not exist. Fraud is already illegal, everything else the SEC does serves corrupt bankers.
In fact, the SEC doesn't even prosecute fraud -- Gensler was having coffee with Sam Bankman-Fried while random Bitcoiners were exposing FTX crimes.
1. ETFs should not need regulatory approval.
2. The SEC should have approved the first Bitcoin ETF that applied in 2013.
3. It took ten years for the SEC to finally make the correct decision to approve, after losing in court.
4. The SEC completely bungled the announcement.
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"Experts suggest your standard of living be reduced by 85%."
Yesterday it was the UN demanding $150 trillion for climate. But that's just the start: The climate also needs you to reduce your "footprint" by 85%.
Say goodbye to air conditioning, barbecues, camping and…
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China is facing a "Lehman Moment" that could spark a financial crisis, according to the Wall Street Journal.
The Chinese economy is flatlining, youth unemployment is skyrocketing, and $5 trillion in homebuilder debt is at-risk.
Now the government is ordering banks to prop up…
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Your kids will have to pay $50 trillion in debt so Yemen can be leveled 🫡
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Japan’s slow-motion train-wreck is speeding up as the yen crashes below 150 per dollar. A level not seen since the 1980’s bubble era.
What’s happening in Japan is a zombie economy built on government spending and zero interest rates is driving investors overseas for higher…
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Javier Milei explains the Cantillon Effect 🥳
Javier Milei explains why printing money hurts the poor the most
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Even if the federal government shuts down, Washington will continue paying the salaries of 57,000 Ukrainian civil servants.
Remember this when they pull the standard "seniors will eat cat food" at shutdown talks.
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Chinese stocks crash below 2007 levels.
Sending Beijing into panic mode, shoveling billions to prop up financial markets.
The dirty secret is China’s been a money hole for 20 years. And foreign investors are finally waking up and pulling their money out.
Sadly, precious…
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Federal debt is up $100 billion in just 4 days.
We're on track for $37 trillion by the end of this year. And $40 trillion by the end of next.
Now a prominent Wharton professor is warning of a "meltdown" as early as 2025 as debt swamps financial markets.
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Another "blockbuster" jobs report as half a million imaginary jobs are revised away and another 700,000 Americans drop out of the labor force.
Meanwhile, the economy lost 1.5 million full-time jobs -- in a single month. Replaced by gig work, Doordash, and government jobs.
All…
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When's the Next Crash?
Since the Federal Reserve was founded in 1913, it’s caused 20 recessions. About one every 5 and a half years.
Every time it’s the same playbook — cheap money leads to inflation. Which sets off panic-hikes and the crash.
While regime economists cling to…
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Is America getting poorer?
Have our ruling clowns finally killed the Golden Goose?
Half of young Americans are now living at home. Cars on the road have never ben older. Houses are shrinking. The American diet is going third world. Even life expectancy is falling for almost a…
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In the year since
@elonmusk
took over, traffic tripled, eclipsing Instagram 🤯
This is becoming humanity's public square 🫡
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"The State does not create wealth, the State destroys it. The State can give you nothing, because it produces nothing." -- Javier Milei
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Soaring bankruptcies, crashing volumes, and mass lay-offs in shipping and freight -- one of the most reliable indicators of recession.
Prices across the eight major shipping routes have plunged by half this year, going from $3,000 per container to just $1,400. One analyst…
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The Self-Licking Ice-Cream cone in living color: $4b electric vehicle battery plant in Kansas uses so much energy it requires its own coal plant 🤡
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"Massive layoffs are coming" in 2024.
Survey of 900 companies says 4 in 10 are planning layoffs -- citing the coming recession. And more than half are freezing hires.
This comes after a brutal 2023, with layoffs doubling on the year.
Worst hit are Big Tech, construction and…
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Fed reports its largest loss in history: $114 billion in a single year.
That would be the third largest bankruptcy in American history. And there's still another trillion plus in "unrealized" losses.
Who'll pay for it? You. And your children.
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Community notes outdoes the entire mainstream media.
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Social Security is going bust. By a lot.
Unfunded liabilities for Social Security and Medicare exceed $160 trillion (!)
Why? Because both were sold as sacred promises. But both were structured as Ponzi schemes.
Their insolvency will launch the mother of Gladiator Battles to…
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Rick Santelli: if federal spending doesn’t come down we could see 14% treasuries.
Last time that happened in the 1970’s it brought 11% unemployment and 18% mortgages. Today, with $33 trillion in debt, it would be catastrophic.
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And now they're coming for the Amish.
That fast slide from servant of people to predator of the people.
State troopers raided Amos Miller's organic farm in Pennsylvania today.
The farm specializes in selling raw milk, organic eggs, grass-fed beef and other nutritious foods to private buyers.
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The Uniparty can't speak without lying.
(2/11) NIKKI HALEY: "Listen to Putin's own words. He said once he takes Ukraine, Poland and the Baltics are next."
- 3 Days Prior -
(2/8) PUTIN: "We have no interest in Poland, Latvia, or anywhere else...It goes against common sense to get involved in some kind of global war."…
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The federal government now spends twice what it takes in tax revenue. While debt service alone eats nearly 2/3 of individual income tax.
So when you write that check to the IRS next month, rest easy knowing most of it is going to Wall Street and China.
The federal spending borg…
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Top careers for US teens:
1. Youtuber
2. Musician
3. Artist
4. Actress
5. Professional gamer
I'm not sure they're ready for the economy that's coming 😬
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Enron's CEO got 20 years for mis-stating their financials 🤔
JUST IN - Pentagon has again failed its independent annual audit of $3.8 trillion in military assets — Stripes
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