The US economy continues to be in freefall with the exception of the stock market to some extent. Thanks to the ongoing war in Iran, which is being fought on behalf of Israeli interests. Now today, the Labor Department stated that inflation rose 4.2 % higher in May compared [00:00:20] to a year ago. And that's an increase from April's year over year inflation reading of 3.8%. So, that goes to show you that inflation is now accelerating. And it marks a three year high for the consumer price index. So you probably won't be surprised to find out [00:00:40] that uh what happens to be driving this inflation is in fact, the war which has limited oil and natural gas supplies, which means that energy is more expensive. Which means that delivering [00:00:56] goods and services is going to be more expensive. So the energy index accounted for over 60 % of the increase in the consumer price index from the previous month, according to the Labor Department. Energy prices increased 3.9 % in the month of May, an acceleration from 3.8 [00:01:15] % in April. The index for gasoline jumped 7 % on the month and was up more than 40 % from a year earlier. So just to give you a little taste of how this all kind of trickles down, Energy is more expensive, that means everything else is going to be more expensive, including [00:01:34] your travel. So uh this is going to get a lot worse, but for now, airline tickets were up 2.7 % from April. Meanwhile, Americans' paychecks have not been keeping up with the pace of inflation, meaning you might be working harder than ever, but you're making less or you're earning less [00:01:54] for your hard work. A separate report from the Labor Department that was released on Wednesday showed that inflation outpaced year over year wage gains in May for the second month in a row. So this was true in April, it was true in May. And considering the fact that the United [00:02:13] States has started to reignite kinetic warfare against Iran and Iran is responding with ballistic missiles. That means the war is going to continue. And there is no end in sight as far as we know. that could lead to the reopening of the Strait of Hormuz, the free flow of oil and gas, [00:02:32] and so things are gonna get worse. uh inflation adjusted hourly earnings declined 0.7 % on the year in May after dropping 0.3 % in April. There are other ominous signs that you should [00:02:49] be aware of, so One of them actually came to us last week when the Bank of America securities warned investors to get out of the stock market. And that makes me worry too for all the people who are invested in their 401Ks, their IRAs. So here's what was said during that investor [00:03:10] call. There are too many red flags, strategists wrote in a note dated June 5th. Take profits, they advise. Meaning, take your money and run, we're about to be devastated. And by [00:03:29] the way, this is what the Bank of America is saying to their investors. just if you want to take it with a great assault, fine. But remember, the number one crime in America, the crime that you get punished for the harshest at this point is lying to investors. defrauding investors, [00:03:49] like that is, oh you can't do that. Killing innocent children in Gaza, that's totally fine. But lying to investors, no, no, no, you can't do that. Bank of America stated that 70 % of its bear market signposts, as they call it, had been triggered. And that includes consumer [00:04:06] confidence data, not looking good, merger and acquisition scores, not looking good, credit stress, and stocks with high price to earnings ratios. So you can tell things are bad when Jim Cramer, who's one of the hosts over at CNBC, is berating Trump officials for not caring [00:04:27] at all about uh the low income Americans who are really bearing the brunt of this devastating economy. So let's hear a little of what he had to say. What you're saying is that everybody's doing well. There's a considerable part of the people who are not doing well in this country, [00:04:45] and they need the help of the Fed. And I am surprised that you're not addressing those people, the people who make less than $40,000 in this country who need help with snap benefits decline, who have the higher gasoline prices because of a war on rent. What about them? [00:05:01] What about them? Well, Trump was actually asked about that today. And I think you should hear what Trump had to say, F1. You know what I really love? I love the inflation. You know why? Because as soon as this war is over, I can say it now, something you didn't know. Do know we've been [00:05:19] taking out millions of barrels of oil? Nobody knows it. You know who doesn't know about it? Iran until right now. We took out the other night 22 ships, late at night with no lights, cuz they don't have any radar cuz we blasted the crap out of it. We took out this way, oil's [00:05:39] $85 a barrel. He doesn't care. He doesn't care. Restarting the war against Iran is going to be devastating for the global economy. He knows that. And it goes beyond the price of oil and [00:05:55] gas. It also has to do with the fact that a third of the world's fertilizer transits through the Strait of Hormuz. Without the fertilizer, or More importantly, with the limited supply [00:06:10] of fertilizer, farmers are going to have a hard time getting access to the fertilizer they need for their crops. Or if they're lucky enough to have access, it's going to be a lot more expensive. And you think that they're just going to eat the costs? No, those costs will be passed down to the consumer, meaning we're going to see a lot more inflation at the grocery [00:06:30] store and pretty much in every other sector of the economy because the economy runs on fuel. and the price of fuel has shot up as a result of this war. But Trump couldn't care less. You want to know why he couldn't care less? Because Homeboy in the background is [00:06:47] wheeling and dealing, okay? Showing up to China with a bunch of corporate executives who lead companies that he's heavily invested in based on public disclosures of his investments. You want to know why he took them to China? because he's looking to make deals between these companies [00:07:05] in China. So the value of their shares shoot up, homeboy gets to make some money off of that. And then you've got his dirty crypto deals. He rolled out a new freaking coin ahead of the UFC fight on his birthday. I mean, his second term has made him very, very wealthy, billions [00:07:29] of dollars. You think he gives a damn? When it comes to farmers, you think he cares that the price of food is going to go up a little bit? He's not going to feel it. He doesn't care. Our government hates us. They hate us. And the question is, why are we tolerating [00:07:49] it? can't stand when people become like, obsessive, like giant super fans of politicians. Did you think that you're supposed to serve them? They're supposed to serve us, but we forgot [00:08:06] that, didn't we? And so they use public office to enrich themselves, to become wealthier, and this goes beyond the Trump administration. How many members of Congress engage in insider trading? How many members of Congress ordinary working class individuals and left with [00:08:27] hundreds of millions of dollars in their freaking stock portfolios. How many of them? These people are scum, but we deserve them because we tolerate them. We tolerate them. They hate us, they rub it in our faces every single day. They don't serve us, they take our money. [00:08:47] They funnel it to whatever pet project they have, including Israel. And the rest of us are just left suffering, complaining about this failure of a government that we have to operate under. But we got to start thinking a little differently, a little outside the [00:09:04] box. And I can't roll my eyes hard enough when I find myself in a conversation where it's like, yeah, well, the Democrats did this. Yeah, well, the Republicans, they're both trash. How about they're both trash? uh