May 11, 2023 - The Truth Central - Dr. Jerome Corsi
34:22
The Post-Title 42 Migrant Influx is Coming and the Left's War on Appliances Continues
Title 42 is set to end today as US leaders, border towns and so-called Sanctuary Cities are expecting a huge influx of people who want to migrate into the country. While border security has not been a top priority for the Biden Administration, urban areas are rushing to try to accommodate their new residents or find ways to ship them to unprepared suburban areas. Meantime, inflation remains high despite the Federal Reserve's claims it is making moves to quell it and the Biden Energy Department wants to push stiff regulations on dishwashers.Overseas, the EU is facing the same commercial real estate crisis as the US and the UN says there is not much hope for any peace talks between Ukraine and RussiaDr. Jerome Corsi breaks it all down today on The Truth CentralFollow Dr. Jerome Corsi on Twitter: @corsijerome1Our website: https://www.thetruthcentral.comOur Sponsors:1MyVitalC: https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/Swiss America: https://www.swissamerica.com/offer/CorsiRMP.phpThe MacMillan Agency: https://www.thetruthcentral.com/the-macmillan-agency/Pro Rapid Review: https://prorrt.com/thetruthcentralmembers/RITA: https://members.sayrita.com/truthcentralreaders/Become a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
And thank you for joining us here at TheTruthCentral.com.
and the wrong person
thursday eleven twenty twenty three
dot thank you for joining us here truth
central dot com we're broadcasting uh... every weekday
and uh... let's get into the news The first story I want to cover is this European commercial real estate, where the values are projected to fall 40%.
Now, this is also happening in the United States.
Again, people have not come back to work after the pandemic.
They're working from their homes.
Many of these office buildings in downtown areas, both in Europe and in the United States, are largely vacant, but both because people are working from home and the economic downturn Has meant these buildings are, cities are overbuilt, the space is not being used and that means that people who own these buildings aren't getting the revenue they anticipated, which leads to defaults and when there are defaults, the banks end up with the defaulted loans.
Which hurt their asset base and it becomes a cascading effect where the problem that was a commercial real estate ends up being also a bank problem and bank failures occur when markets like commercial real estate or subprime real estate which was 2008 crash and we're experiencing that at the very start right now.
So, a Citibank analyst, a guy named Aaron Guy, is saying that commercial real estate asset value in Western Europe could fall by 40%.
That's dramatic.
Which could trigger covenant breaches, in other words, contract breaches, that require as much as $178 billion of new equity or other mitigating actions.
Okay, so that's more than the entire real estate sector's index market cap of 144 billion euro.
Now, what this means is that it's a downward escalating quickly problem as the central bank in Europe has also raised rates.
So these office buildings become more difficult to finance.
And if they are under value because of the less occupancy, selling them becomes problematic because the seller is going to take a lot of losses.
If you sell a building for a big discount, you may have lost capital that you put into building that building.
So higher rates basically mean lower valuations for these buildings.
And various of the bank strategists are saying that there's a structural shift going on worldwide, certainly in Western Europe and the United States, on this work from home trend.
And the idea also of retail digitization, in other words, you can buy so many things now and have them delivered to your home, that there's just less activity.
Also, the downtowns are getting less safe.
So people are avoiding the cities because they're, again, too dangerous.
And so all these factors contribute to commercial real estate crash, which is occurring.
And when it does occur, this is going to be a massive downward trend in the economy.
I keep saying we're headed for one of the biggest economic declines that anyone has ever lived through.
Now, the second story in economics that I want to cover is, again, I follow this Wolf Street a lot, wolfstreet.com, which is a very good analysis of the economy, what's going on, but the federal rate, federal Fed rates were raised 25 basis points.
The Feds raised interest rates about 500 basis points in a little over a year.
but the core CPI, which I mean, usually excluding energy, is in this range of about 5.5% to 5.7%
for the fifth month in a row. So we're not making any progress with the inflation.
In fact, the argument seems to be that the higher the rates are, somehow we've gotten, we've built inflation up to 5%, and it seems to be following the index.
So if the index continues to, if the Fed increases interest rates again, which I think they may do, I know they were saying they were gonna pause, but with interest rates not slowing down inflation, Uh, they're really stuck because again, the, you know, Wall Street loves zero interest rates and they want to get back as fast as they can.
They want back the quantitative easing, which is essentially the government, uh, food producing treasury debt to finance deficit spending, spending, spending, spending.
And then the federal reserve and the banks buy the treasury debt.
We buy our own debt, which is ridiculous.
It's again, a complete Ponzi scheme.
But if you go back to like 1965, essentially the rates were that the Fed's rate, interest rate setting was usually higher or significantly higher, almost always higher, but usually significantly higher than the rate of inflation.
For example, in the 1990s, you know, you had essentially the, The interest rates were around 5% to 6%, but the consumer price index was only about 2% to 3% in inflation.
That's really no inflation in modern terms.
So, the idea is, if you go back to these decades, we've got a new dynamic going, where right now the increases of the interest rates of the Fed are not slowing down inflation.
Now, that's an important and dangerous trend.
Because if that occurs, we have an inflation that's fueled now by the amount of debt we have, which is now over $30 trillion.
And by the way, Congress and the Biden administration are still fighting over the debt ceiling.
I suspect they will come to an agreement.
Sometime before the end of the month, but right now there's this stage where the Republicans are playing the game.
Well, we want less spending and the Democrats are saying, no, we can't control spending.
Let's just raise the rates.
We have fiat currency.
We've got a modern monetary theory.
We can just publish more money.
We can print more money to pay off the interest on the debt we have.
And so the Ponzi scheme will probably continue.
Because usually in these crises of raising the debt ceiling, it's a big, you know, kabuki theater.
Everybody's acting out but...
The audience and the players know how it ends, and it ends with the Republicans in Congress conceding.
They'll get a couple, you know, bones thrown at them by the Democrats.
They can all say they won, and the debt ceiling gets raised, and we have continued inflation.
Now, I want to go to, for a minute, to the Swiss America, one of our sponsors.
If you go up at the top of the The Truth Central homepage, the black bar, where it says Sponsors, and you click down on Sponsors, you'll see Swiss America.
Swiss America, I've worked with since 2004.
They're an excellent company in dealing with gold, silver, and platinum.
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In an economic crisis like we've had in the 1970s or 2008, gold and silver doubled in price.
I think it'll happen again, but silver will appreciate faster as a percentage.
Now, you can get your IRAs or your 401ks, you can do all kinds of things.
To put retirement savings into gold, and the dollar's gonna get, the dollar's on the way out worldwide.
The de-dollarization's going on fast.
And you can't keep up with it by thinking that you're gonna retain your purchase power of your dollar.
Just go to the grocery store and see what $100 buy.
Look at how much it costs to fill up your car with gasoline, and gasoline prices are down a little bit from their height last year.
So, we are in an inflationary cycle that's not going to end soon.
We're at the beginning of a very deep economic downturn where the stock market Could have major, major losses and catastrophic losses suddenly.
Well, you don't want your IRAs, your 401ks tied up there.
If you don't, you'll find Swiss America is expert at this and their consultative selling.
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But your needs may be not just to buy some gold and silver.
People say, well, I can't eat gold.
Well, if you've got gold, I guarantee you'll be able to eat.
And that's been the case for 2,000 years.
The gold and silver will hold its value, whereas your dollars will not.
And that's why the BRIC nations, Brazil, Russia, India, China, South Africa, they're going to meet first week of June in South Africa.
We'll be covering that very strongly because there is an anti-dollar group forming, which may form its own gold-based currency.
I'm beginning to think that's where the BRICs are going.
And they're going to have more countries join them.
Pretty soon they'll be holding all the OPEC nations.
This is going to be a massive economic force in the future.
And China and Russia are both there.
The other one to go to is Matt McMillan.
We're going to do some programs with Matt.
We may do even one tomorrow, a special broadcast, in which we are going to look at annuities and universal life.
When Matt is going to be my son-in-law here at the end of the summer, I've worked with him.
He's a young guy, but he's very good at And insurance, he's learned how to sell over the internet and telephone.
You basically get a consultative selling with him, explaining annuities.
Why do you want an annuity?
When interest rates go up, the interest rates on annuities are higher than CDs.
Interest rates and annuities are tax deferred.
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You can take the money out a little bit at a time on a cash basis where you don't have to pay Income tax on all the money you take out.
There are different ways to work an annuity.
They can be indexed to a stock index or other index.
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Because it's a fixed annuity.
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And the insurance industry right now I think is one of the strongest industries we have It has good cash management, it's got good asset base to it, and the insurance industry always does well in high interest rate environments.
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Fill it out and get some consultation on annuities and life insurance.
Life insurance is also good for plan completion.
If you're planning to retire and you have a financial plan in place, your life insurance will give you a certain plan completion.
Should you pass away before you completed your plan, the life insurance will complete it.
And it's a great idea to have that.
Also, your life insurance will increase in value with interest rates.
And if a stock market goes down, that insurance policy still is guaranteed to pay you a specified rate.
Okay, let's get back to the news here.
I want to shift from the economic news, which I continue to think is not good, and it's not going to get better.
It really surprised me here, this immigration story is finally getting covered by the mainstream media.
Almost every mainstream media I looked at today was covering this end of the Title 42.
The article I've linked to here is from the Wall Street Journal.
Okay, so Title 42 was essentially a A pandemic era measure where the Trump administration was saying that before they wanted to get the immigrants coming from Mexico who were asking for asylum, they wanted to establish rules that made it harder for them to get asylum.
So essentially, and by the way, the Wall Street Journal article is very interesting because it's written to say, you know, immigration is good, which I think it is, but I want it controlled.
Well, they do talk about the influx that Border Patrol made more than 10,000 migrant arrests on Tuesday, and they're coming from countries like Venezuela or Cuba.
Get out of repressive governments.
It's very favorable.
The surge is all through from El Paso to Texas to New York.
New York is struggling with, the mayor of New York is even saying he wants to get the immigrants out of the hotels and put them into the boroughs.
Well, the Wall Street Journal clearly likes immigration, clearly likes getting rid of Title 42, but they're now in a bind because the Biden administration has said what they're going to do is they're going to have a very similar policy to the Trump era policy.
They're not going to call it Title 42.
It's going to be a transit ban.
In other words, if these migrants who are crossing into the United States without permission,
they're gonna be ineligible for asylum and quickly deported unless they first apply
in another country to get permission to come in for asylum.
So having to apply in Mexico before they cross the border, or if they get caught, they'll be deported,
is somewhat of a deterrent because it's not easy or quick to get the asylum permission in Mexico.
So these migrants end up spending all this time, all this effort, all this danger walking, paying coyotes, getting to the border of Mexico, and now they're stopped because they have to apply for asylum before they cross the border.
So it's very interesting that finally this story is surfacing in the mainstream media, whereas the mainstream media has done everything they could to suppress the border issue for decades.
And I wrote a book called Minutemen, going back to when Jim Gilchrist had the Minutemen going.
This was maybe, I wrote that book probably in around 2006 or 2007.
And I was then warning that the immigration had a, again, a neo-Marxist agenda to it.
This was the part of the Marxism teaches that if you change the dynamics of a population, you can basically overthrow a government.
I mean, so basically with the population demographic shifting, To more Spanish who come from countries where they're basically socialist.
The Democrats thought they were bringing in a lot of voters, and with an agenda coming on with Obama that was really, I think, neo-Marxist, you had a push.
To have immigration.
I favor immigration.
I think immigration is very good for a nation.
I think it really stimulates the growth of the country with new people coming in, aspiring to benefit themselves and their families, which is what most of these immigrants are here to do.
I've always wanted to be controlled.
Because not controlled means with the drug cartels come in and take over, get a lot of corruption, etc.
And that's been my major issue on immigration.
And it's very interesting to me to see finally, and I'm actually kind of curious as to why the Biden administration is realizing this now to be a problem, But probably the magnitude of it is getting to be a pushback politically, including in cities, Democratic controlled cities like New York, where there's just simply too many immigrants to absorb in a reasonable fashion.
And putting them in hotels is very expensive.
New York has many, many issues, which is making it to be a difficult place to go or to live.
Chris, you want to comment on these issues?
Let's add to this that New York has been trying to push the, uh, illegal immigrants out.
Your microphone's off.
No, sorry.
Wait, it's not off.
Turn your microphone on.
It's on.
Can't hear you, Chris.
Uh, did it happen again?
Did it Chris?
Hold on.
I can't hear you.
I know.
I know.
I'm going to get to this again.
My mic, your microphone is off and Can't hear me.
Can't hear you, Chris.
I know.
Chris.
Chris, we can't hear you.
I know.
Can't hear you.
Okay.
Hold on a second.
I'm going to try to call again.
One, two, three.
Okay.
Okay, I'm gonna call because...
Can you hear me? Chris is...
Can we just continue the show?
Yeah, yeah, of course.
Yeah, yeah, might as well, because it's just, yeah, the same thing happened again.
Should we just continue?
Yeah, just work without me, OK?
OK, we'll just continue.
OK, I'm going to pull out.
OK, let's get back here.
The next story I want to... The next... One second, Chris.
OK, we'll begin again.
Let's move to the story about Ukraine.
What I'm seeing here in Ukraine is that the U.N.
chief is basically saying, U.N.
Secretary General Guterres is saying that he's got a very pessimistic attitude.
Henry Kissinger is saying that he's now 99 years old.
Is saying that China's entry into the Russian-Ukrainian diplomacy will bring the two sides of the table.
The U.N.
Secretary General Guterres disagrees.
He said this is an ominous time.
Also, Putin in his Russia victory speeches was saying, essentially, there's not going to be any peace.
Putin is right.
This is another proxy war that NATO is fighting and we are fighting.
The United States, we're funding all the Ukrainian military.
And billions of dollars have gone into Ukraine.
I don't know where it's gone.
The likelihood is much of it was stolen, but certainly the arms makers are having a field day right now, because whenever one of these wars occur, munitions, they're just sending in weapons.
It's a massive influx of weapons, and that's money for the arms makers.
Russia's saying basically that as long as we continue to fight this proxy war, Russia's not giving up.
Russia's just about destroyed much of the eastern part of Ukraine, and now they're moving into central.
They control the Black Sea.
They control Crimea, Sevastopol, the port of the Black Sea that's very important militarily.
And Russia's not about to lose.
Putin is not about to lose this battle.
The spring offensive is not happening.
I don't know what the deal was.
It's probably just all hype by Zelensky.
And I've been writing articles on, the Gateway Pundit will continue to, on Biden.
By the way, I'll mention yesterday's press conference in passing, which it looks like the House Investigating Committee is really going after the Biden family, and I'm suspecting that the Democrats will throw Biden to the wolves here at some time or other.
But on this issue with Russia, the UN Secretary General said, That he didn't believe that peace negotiations were possible at this time.
Both parties are convinced they can win.
Well, I don't know whether Zelensky and Ukraine are convinced they'll win, but I know they're convinced they can make more money and that we'll continue to fund them.
So here's the situation with Ukraine.
I think it's basically going to be a continuing war and an escalating war because I don't see us stopping to fund Ukraine.
NATO is determined to continue Spending money, the arms dealers are making a fortune.
And that's going to continue.
So Putin is going to see this as a proxy war.
He's going to get intensively angry that he's really fighting the United States and NATO.
He's going to escalate.
He has the potential to go nuclear.
It's not going to be easily resolved because Putin is in control of the eastern part of the country.
He's not about to give it up.
And now if he closes the Black Sea, he's going to put pressure on the western part of the country.
He's going to have to find another way to get their wheat and their corn to market.
So we've got a very, very complicated situation here that's not going to end easily.
And we've also got Taiwan on the brink of China taking it over.
In these periods of time where we have a godless world that's abandoning God, we get chaos.
And I see us in a dark period here, a disinformation age, where censorship's on the increase, we're fighting all of these hoaxes, and I'll talk about this climate hoax in a minute.
But at the same time, I do remain confident.
I say, in the end, God always wins.
God will win here, but we've got to begin to think about coming back to God.
We've got to think about coming back to fundamental values, not war.
The corruption is outrageous.
We have a Biden family.
It looks like it's very deeply implicated in foreign corruption.
This is the President of the United States, and I'm writing articles on the Gateway Pundit.
The Biden family has been Using politics to her personal enrichment since Biden first got to Congress Now before we do the last two stories.
I want to make sure Chris if you'll show people the We have a store now.
We're back on to here's the the gear beginning to get all the it's the The truth central mug We have a lot of just look at the store.
You can see we've got different gear up now and And you can get bags and caps, a variety of different gear with the Corsi Nation, I'm sorry, it used to be the Corsi Nation, with the Truth Central on the, our logo, the Truth Central logo on all the gear.
Now, I think this is the best logo I've ever had and I'm very pleased with it.
I'm hoping that we can get it to go There we go.
Got to hold it correctly for the camera.
I think we can get the logo to do quite well.
And over time, as we build the show, I'd like to see us again make an impact that moves us towards the truth.
The truth is the theme right now.
We need truth.
And we've got to get that word out.
Enough of this lying, narrative nonsense.
And I am writing a book on JFK, the assassination.
I do believe that Robert Kennedy Jr.
is right.
The CIA was involved in working with Dr. Mantek.
I had some articles on The Gateway Pundit, again on this, where I have been writing.
I've also been writing An American Thinker.
You can catch my works there.
We're posting those on the truthcentral.com website.
Now let's do the last two stories here, which I think, again, Amazing stories to me on the hoax that's going on.
First of all, the Biden administration, the Energy Department, this is the Secretary of Energy, Jennifer Granholm, who's now got new regulations for dishwashers.
Of course, this is climate change.
You know, we're, we've got to save the earth from getting global warming.
And to do so, we've got to have all these changes in our appliance.
We're going to have the dishwasher wars.
So by 2027, we've got new regulations for these dishwashers to use 27% less power, 34% less water.
So I guess you're gonna have to clean your dishes twice to get them clean.
I'm not sure how this is going to work.
But we're saving the planet, right?
Well, that's nonsense.
If you would just read my book, The Truth About Energy, Global Warming, and Climate Change, this climate, global warming is a hoax.
It's nonsense.
As I point out, oil, natural gas, coal, these are abiotic.
They're not made from dinosaur soup.
We're not running out of them.
We've got plenty, and it's easily available to get it now as cheap energy.
We need easily available, cheap energy that works, reliable, in order to run the modern industrial state.
What the left is trying to do here is a neo-Marxist agenda.
They want to demonize carbon dioxide so we stop using hydrocarbon fuels, because hydrocarbon fuels emit carbon dioxide.
But carbon dioxide is not a dangerous chemical.
It's a minor, minor, 0.04, a very, very small percentage of the atmosphere.
And we exhale carbon dioxide.
Plants absorb carbon dioxide.
We've had much greater concentrations of carbon dioxide when we had ice ages.
The earth is not controlled, our temperature is not controlled by carbon dioxide.
Water vapor is 70% of all greenhouse gases, not carbon dioxide.
And if you take a look geologically over geologic time, it isn't the industrial age where suddenly temperatures rose dramatically.
The earth has changing temperatures.
We have ice ages.
The sun is the driving factor of heat and light on earth.
It should be obvious to everybody that the sun, you know, it's not up there, the glow, it's not a tree ornament.
It is our source of light and heat.
And when the sun is burning less hot, we get many ice ages.
When we are farther away from the sun in a very elliptical orbit about every 100,000 years, we get an ice age.
We will have another.
It's inevitable.
But again, it's not because of carbon dioxide.
Yet, we're on this neo-Marxist agenda where we've got a, you know, the Biden administration I think cares more about carbon dioxide and shutting down the economy Causing a massive recession with all these EPA, the next one, the EPA rules, it's the next story.
The EPA is proposing these stringent new rules for carbon capture for coal, oil, natural gas, power plants.
And again, they want us to stop using hydrocarbon fuels, but I show the picture of nuclear energy because again, they don't want us using nuclear energy.
We cannot run the economy on solar, wind, and battery.
It doesn't work.
And the truth is, the Intergovernmental Panel on Climate Change of the UN, the scientists who concocted this carbon dioxide hoax, know it's a hoax.
Michael Mann did this hockey stick graph Maybe 15, 20 years ago, showing industrial age, earth temperature was perfect.
Then we started using hydrocarbon fuels and suddenly like a hockey stick, blade of a hockey stick, the temperatures of earth escalated.
It's nonsense.
We have basically had warming and cooling periods of time throughout history.
Geologic history goes back 4.6 billion years.
First 80% of the planet, there was no life on the planet at all.
This is a changing place.
It's not stable.
And just burning hydrocarbon fuels is not... The left does not want modern industrial states.
They want fewer people.
They want control.
They want totalitarianism.
And they'll be happy to use a hoax like this to scare people into thinking... indoctrinating our children to think that, Mommy and Daddy, you're killing us in the future because we're going to have global warming.
We're all going to die.
Because you're greedy and using your carbon-based cars.
There's nothing wrong with carbon-based.
We ourselves are carbon-based.
It's not a noxious chemical.
It's not a noxious element.
Carbon dioxide is a molecule that's perfectly natural and is fundamental to how the earth works.
Chris, do you have any comments?
Do you want to make any comments if you can there?
They always say it's for the good of the country.
It's for the good of the world.
We have to be good world citizens.
The fact is, yes, we should be nice and kind stewards of the world.
We should recycle.
We should take care of each other.
We should take care of our resources.
On the other hand, scaring people into compliance to a longer government agenda Is what's happening right now, and people just don't seem to realize it because they think they're doing the right thing.
They want to do the right thing, and this is what has been ingrained in their heads since they were in primary school.
You're right, and people got to start thinking and also start praying again.
Come back to God.
We can end this nonsense with God's help pretty quickly.
One last thing, I mean, I'm getting a lot of comments, getting some very good comments on the show and people are saying I'm looking younger.
Well, I don't know how that, I mean, in some ways I think I have colors come back into my hair.
I attribute it, the major change in my life in terms of health is my vital C. If you take a look at our sponsors again, our sponsors I think are excellent.
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So let's wrap up.
I always say in the end, God always wins.
God will win here too.
It's going to be a rough ride, and we will get through it.
Again, with the help of God, we can get through it easier.
