June 16, 2023 - The Truth Central - Dr. Jerome Corsi
41:43
The Decline of Affordable Housing; More Danger for Regional Banks - The Truth Central
A high-inflation environment and artificially expensive real estate market is leading to a decline in affordable housing and a new rise in the tiny house market. What will happen as less people will be able to afford the homes hey live in now? Will more people, due to economic circumstances, be forced to live in tight spaces? Are we conditioning a new generation to accept such situations as a "new normal?"Meantime, the student loan repayments will officially resume after the long COVID break, meaning a hit to the overall US economy as household spending could be slashed by nearly $15.8 Billion per month.Dr. Jerome Corsi tackles these issues and:A closer look into Biden's abuse of the 1917 Espionage ActMore danger ahead for regional banks and the commercial real estate sector.Get Dr. Corsi's new book with Swiss America CEO Dean Heskin, How the Coming Global Crash Will Create a Historic Gold Rush: https://www.thetruthcentral.com/how-the-coming-global-crash-will-create-a-historic-gold-rush/Follow Dr. Jerome Corsi on Twitter: @corsijerome1Our website: https://www.thetruthcentral.comOur Sponsors:MyVitalC: 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.
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Greetings, Router!
I'm Dr. Jerome Corse, and today is Friday.
It's June 16, 2023.
The first story I want to cover today has to do with the student loan repayment program.
I'm Dr. Jerome Corse, and today is Friday.
It's June 16, 2023.
First story I want to cover today has to do with the student loan repayment program.
It's starting up again.
You're going to find that sometime this next few, by August, the payments that were suspended
during the pandemic where people did not have to make their payments on student loans, is
is now coming to an end.
That was part of the debt ceiling agreement.
One of the very few things the Republicans got agreed to.
They mostly gave up on everything.
It's kabuki theater, you know, they puffed and puffed about how much we were spending and then they agreed to do it.
Of course they did.
The Republicans in Congress are just like the Democrats.
They're a uniparty.
And they're all benefiting from how much we're spending, money we don't have, just this fiat currency we continue to print, print, and print.
At any rate...
As you see here, the student loan, this boondoggle, Obama put all the student loans on the federal government.
It used to be managed by the banks until Obama came along.
Obama said, no, let's just do it this way, and then the federal government just massively did student loans, and the money went to the universities, and they hired woke professors and paid them a lot of money.
Got rid of anybody else who really wanted to teach science or teach anything conservative or teach anything that was true.
They basically just wanted their work.
This was funding the woke agenda.
Now, Biden wants to forgive all the student loans.
That's before the Supreme Court.
But the agreement that was reached means that the Biden administration cannot extend this pause any further.
From loan repayments that began, this pause began in March 2020.
So there's about $5 billion a month in student loan repayments that have to come out.
And they are going to come out largely from the middle class.
The federal government programs basically boosted Personal income by about $2.3 trillion from March 2020 to December 2022.
And all these handouts, the government, it was the COVID money just handing it out.
So the country got a boondoggle of massive money given to them by the government.
And everybody thought that's great.
You know, we just got free money from the government.
Yeah, well, that's always a bad idea.
Now, when they are getting the student loan deferment program coming to an end, no later than June 30, 2023, which is around the corner, it's expected to resume by September 1, 2023.
The amount of money we're talking about, in excess of a trillion dollars, student loans represent 7% of the gross domestic product.
64% of the $1.7 trillion in student loans have been in forbearance for three years.
Now, many of the 25 million Americans who have deferred payments for student debt are aged 18 to 44 years old, one of the most important demographic groups that drive consumer spending.
The average student loan payment is about $393 a month.
And for consumers taking advantage of this deferment program, they have deferred 39 months of payments, resulting in more than $15,327 in additional discretionary income during the period.
That money's going away.
So for these families in the years 18 to 44, they're gonna lose about $400 a month, which is gonna hurt.
And this is another indication of one of the reasons that the household spending is about to collapse.
It's already down.
People, the credit cards, as we've reported, are up to now $1 trillion.
People are living on their credit cards and inflation is continuing.
So just go to the grocery store, take $100 and see how little it buys.
You'll see how worthless your money is.
That's why I'm constantly encouraging people to buy gold.
I'm going to talk more about that in a minute.
But the point is, all of these measures that are being taken are conscious measures to bring down the economy.
You can't look at it any other way.
We are actively engaging in the exact steps that you need to take if you wanted to destroy a functioning industrial state, wanted to destroy capitalism.
This is the way to do it.
So they're following a playbook.
And they don't seem to care if it destroys the middle class.
In fact, that seems to be the aim, in order to get a small group of oligarchs, Bill Gates's privileged money, who will control the world along with their machines, is the World Economic Forum view of the future.
And the rest of us will live like peasants and have to struggle to survive and feed our families.
This next story, I think, and I'm going to do several today that are in line with the same theme.
This is the decline of affordable housing, which is jumpstarting this tiny house market.
Now, if you haven't seen the tiny houses, I encourage you to start looking on the internet.
These are very, very under 1,000 square feet to kind of build a house with a kit.
And you can put it on a little tiny piece of land that you can buy in a rural area, and that's where you live.
Because you don't have any space, you don't have any room to move around.
You've got enough for a kitchen, you've got enough for maybe a living room, and enough for a bedroom, and that's it, in very cramped space.
So, look at the housing affordability.
In 1984, the median house price was $79,000, about $80,000.
And the median household income was about $22,415.
So your ratio of the median house price to your median income was 3.57.
and the median household income was about $22,415. So your ratio of the median house price to your
median income was 3.57. And in that ratio, people could afford to buy houses. Now today, the median
means the middle point, the one that's exactly at 50 points.
It's not the average, it's the one that the middle of all the data array.
The median house price is $398,000.
$398,000, the median income is $70,784 and the ratio is 5.61.
Now what they're saying is the because the median household income has gotten so out of
kilter with how much houses cost that people are just not able to afford buying homes which
is why you see so many rental units being created here in New Jersey in towns like Morristown.
They're putting up very expensive rental units, these apartment complexes, and the idea is
people want to move out of New York, which are increasingly massive numbers, can
buy a very expensive, but you know, larger than they would have in Manhattan,
condominium let's say, or rent a unit.
God.
And that's the future.
The idea is we'll continue to pack people in the urban areas and the close suburban areas and let them live in less and less space.
Another brilliant idea.
And so therefore, you've got, for instance, at places like Home Depot and all these other places, you can get this tiny house craze.
As Americans are priced out of buying real homes, they're calling them these getaway pads, which are 540 square foot homes with just enough space for a living room, kitchen, one full bathroom, a bedroom, and a rooftop deck Accessible by a spiral staircase.
The framing kit costs $43,832.
They're not cheap.
But yet, as demand increases for these small dwellings, because the, you know, the essentially 75% of houses are too expensive for middle-class buyers.
So middle-class buyers just can't afford to buy large homes.
And this whole green insane movement thinks that there's too many people living too comfortably.
We need to live like peasants, like serfs, on very little space being dependent on the government.
Chris, you want to comment on this?
If you've seen what some of these World Economic Forum masters are trying to do with young people, is they're trying to encourage them to live in pods.
So the tiny houses are going to look like, I'm exaggerating the point, but they're going to look like mansions compared to What they're trying to force younger people to get used to right now.
Having said that, what you mentioned earlier about how people are coming from New York to places like New Jersey.
I live in the Hudson Valley.
They're doing the same thing up here.
They seem to think that they can get, and which they can, they seem to think they can get apartments or homes that are larger than what they can afford in Manhattan.
A little cheaper.
So what we're calling very expensive is less expensive to them because of what they're paying in taxes and everything else and of course and being afraid to go on the subway and maybe to walk the streets at night.
So the landlords or people who build these complexes you mentioned can charge a premium pricing people who live in the area out and making everything a big mess and of course raising property values and that causes another issue.
It's a spiral.
So again, that tiny house market is going to continue to skyrocket or at least move up.
Up and down, but pretty much it's going to be a little more popular over the next few years.
It sure beats a pod, I'll tell you that.
Well, and the pods are what in Tokyo and other cities of that nature, they're trying to get people to live in, which is just basically a little box.
You know, you open yourself, climb into this little room, which is just enough to sleep in.
And it's like sleeping in a coffin.
That's all the space you get.
You have little drawers under your pod.
I've seen videos where they show these things off and you have to share a bathroom with about, I don't know, four to seven other people.
Right, four to seven of your best friends.
Okay, so let's go continue here.
I've been covering this all week and that is covering for a long time because I want to warn people of what's coming.
The regional banks are trying now to unload commercial real estate loans because they know that a crash is around the corner.
And it's going to be very difficult to unload these loans because nobody wants them.
There's essentially an estimated $1.5 trillion of commercial real estate property that's going to be due for repayment in about 18 months.
So this crisis is going to build through the next year and a half.
And at that point, we're going to have more and more banks failing.
It is built into the system.
This can't be avoided.
What's happening is that there's a couple of different pressures.
The first one that everybody's talking about is that Since the pandemic, people don't want to go to work in an office.
They know they can work from home using the internet.
They can be in their pajamas or whatever.
And in the comfort of their home, whatever that home is, and not have to go transportation-wise downtown to work in an office that is a very kind of sterile environment.
And so the office space, actually the national office, despite employees returning their offices this year, this article is saying, this is from the Epoch Times, That the average office occupancy rates for commercial real estate, and they say CRE, commercial real estate, that's how it's abbreviated, are below 50%.
According to the report by the Bank of America, 68%, almost 70% of commercial real estate loans
are held by regional banks.
Approximately 450 billion commercial real estate loans will mature in 2023.
JPMorgan Chase estimated that the commercial real estate loans comprise about 28.7% of the assets of small and regional banks.
That's about 30%.
And projected that 21% of the commercial real estate loans will ultimately default Causing banks about $38 billion in losses.
This is what hit First Republic Bank, Sovereign Bank, all of them.
And there's a double hit.
Because first of all, you've got a lack of demand for the office space because of the slowdown in the economy.
Uh, interest rates are higher, which makes it difficult to refinance these buildings.
They are often at a bubble loan or, you know, a loan where you're just paying interest only.
And then as the interest is at the end of the loan, you pay the principal off.
And so therefore you've got a real crisis when these have these commercial real estate buildings need to be refinanced now to compound it.
They don't talk about this, but the downtowns are becoming unsafe.
You know, you've got San Francisco, which now you've got retailers closing, malls are going bankrupt because the internet, e-commerce is so popular.
And the whole nature of just going into downtown, San Francisco is dying.
You know, with feces in the street, human filth all over the place.
The homeless, it's dangerous.
Who wants to even visit San Francisco?
So you lose tourism.
New York City, the subways are unsafe.
They're arresting people and charging the people with crimes who stop.
And unfortunately, one of the murdered, they say, strangled with a chokehold, an insane guy who was going to kill people in the subway car.
You're stuck in the subway car.
What are you going to do?
So, essentially, we've got a crisis here, and it is going to tank the commercial real estate market, which will tank regional banks.
Chris, you want to comment on this?
What's happening with these city malls and these city workplaces we've been discussing over the last couple of weeks is Almost a natural progression.
The COVID situation has kind of accelerated the idea of remote workers.
This was going to happen sooner or later, but it was going to be a gradual thing.
There are going to be businesses that would take over.
It happened too quickly and that's causing a commercial real estate crisis.
You might note that suburban malls have seen real problems over the last 10 to 15 years.
And all of that was the advent of remote shopping.
What some of them did was become different kinds of centers.
They have your anchor stores, they have places to go to shop,
but mainly they're putting more food in there, specialty stores and entertainment centers.
We're in trouble now, but I could see, if done responsibly, an evolution of, or a switchover
for these commercial buildings.
Maybe something good happens, maybe they fall.
But the COVID situation kind of jump-started too many things, whereas it didn't get to develop naturally over 10, 20 years like it should have.
That's where the issue lies.
We're just accelerated.
The trends are to dehumanize.
In other words, we don't We're all going to work in our isolated little homes and then we decrease the size of the homes and we pack people into the urban areas where we can control them.
There's a book and I'm focusing on books these days because I want people to read and people are not reading books.
It is still essential to keep reading books.
I know you have to sit down and do it and it's more than a podcast and you can't do it in TikTok.
But if you don't take the time to do it, you're missing out on the fundamental understanding, the deep understanding of the dynamics going on.
Now, this book here, which is called Surprised Again, and it's hard to see the authors there because, again, it's very small, but the authors are Alex Pollack, And Howard Adler.
P-O-L-L-O-C-K.
Alex Pollux and Howard Adler.
A-D-L-E-R.
It's called Surprised Again.
Now, this book comes out of the Mises Institute.
That's where Alex Pollux works.
These two guys were senior officials at the Department of Treasury.
through the pandemic.
And why the book is so good is that they're surprised again is really the fundamental theme, which is you can't predict the next economic crisis exactly.
It's always a surprise how it happens.
In other words, they were sure in 2019 that the economy was solid and nothing could happen, and the pandemic came, and suddenly the economy shut down, and we're still going through the changes economically that were impacted by the pandemic.
One of them being people don't want to go back to work in the offices.
Now, what they're pointing out, and they pointed this out in this book, which was written, I met Alex Pollack, it was written in 2022, But they were saying on page 26, commercial real estate has always been, let me make sure you see the book, one of the most highly leveraged portions of the economy, with 4.7 trillion of associated debt in the second quarter of 2020, which has been a frequent culprit in financial crises.
The prices of commercial real estate can fall dramatically.
Wiping out what seemed at the time of the loan to be a safe collateral margin.
For example, one shopping mall defaulting in 2020 was originally appraised at $195 million to support a loan of $100 million, but the 2020 reappraisal was $61 million, a drop in the estimated value of nearly 70%.
You can't refinance the thing at that point.
It's underwater.
Another 2020 defaulting mall, defaulting, meant the whole loan, somebody had to take a massive loss, millions of dollars, and the banks largely took it.
Originally appraised at $322 million to support a loan of $178 million, which was plenty, that much of a valuation, $178 million loan was seemingly fully collateralized at any rate.
But it was appraised at, 322 million is for a loan of 178 million, but then it most recently was appraised at 130 million after default, which was a drop of 60%.
Every financial crisis demonstrates the answer to the question, how much can asset prices fall?
And the answer is more than you thought they could.
Banks fund roughly half of the outstanding commercial mortgages.
Small and mid-sized regional banks hold more than one half of the bank-held commercial real estate loans, and community banks have disproportionately large real estate Commercial real estate exposures.
The outlook for commercial real estate continues to be uncertain because the pandemic may have caused long-lasting changes in people's behavior that will affect the economics of the proportion of portions of that sector.
In other words, people don't want to go back to work at offices.
And they were seeing that in 2020.
Losses among lenders to the sector tend to lag behind the financial crisis.
During the crisis, many of those who could work from home, while many are still doing so, as we write, 2020, many companies are sharply cutting back their demand for office space and trying to sublet existing offices to somebody else.
This has led to predictions that the shrinking in demand for commercial office space will be long lasting and to questions about what effect this will have on the commercial real estate market as lenders as some building owners become unable to service their debt due to these shifts.
For the subsequent, for the consequent losses to work through the system takes time.
Less demand for office for space leads to space being dumped on the market for sublease.
As old leases expire, vacancies and reduced rents rise, leading to defaults on the commercial mortgages.
They predicted in 2022 accurately what we're going through today.
This book is excellent.
It's difficult to read.
It has a lot of economics in it, but it's worth the effort.
I'm going to be commenting on it more.
And that's what's happening right now.
I'll make one point from the article that we listed, which I think is even some of the big companies like Microsoft and others are trying to sublease office space And this is, again, indicating that even the high-tech companies, which are laying off employees, have now got surplus office space.
This is what happened to Silicon Bank, Signature Bank, First Republican Bank.
They're trying to sell off the loans.
They're taking huge losses.
And it's going to spread through the economy.
In May, PacWest, a regional bank, sold $2.6 billion of construction loans at a loss.
Citizen Bank has put $1.8 billion of its commercial real estate loans up for sale during the first quarter of this year.
And Customers Bank Corp.
reduced its CRE, commercial real estate holdings, by $25 million and put $16 million of its existing portfolio up for sale.
They're all taking losses.
Now at some point or other, these losses are going to cascade.
Because what you've got here is a, they're calling a doom loop.
Where one thing affects another and it all is a downward cycle.
So you have people staying at home, you've got overbuilt offices, and malls are closing due to the impact of the internet and e-commerce.
Your stores may, they don't have your size.
Well, the internet has got your size.
So you go look at something at a mall and buy it on the internet.
Well, the mall loses revenue.
And again, These malls were predicated on people wanting to come to them because of the convenience of all these stores physically in one place, often closed in a very beautiful mall space.
Short Hills Mall here in New Jersey is an example.
And they worked for a long time.
But with the Internet, who cares?
All the stores are packed right in your computer.
You don't need to visit them physically.
So these fundamental changes aren't going to stop.
They're going to cascade.
And as the banks fail, we're going to see another major economic crisis come about, which will redo what we saw in 2008 and 2009 when the subprime market crashed.
Today, the housing market's crashing.
Because the houses are not affordable, people can't buy them, and secondly, the commercial real estate is crashing.
So, I want to emphasize at this point, and again, I've written this book with Dean Heskin, And I'm just starting to publicize it.
Next week, I'm going to start doing podcasts on this.
I'm coming back more.
For a while, I was basically thinking I'd retire, but what's going on is too crazy, and I can't retire.
This book is called The Coming Global Crash Is Going to Create a Historic Gold Rush.
And I pointed out that in the last two economic crashes we had, 1970s over energy, 2008-2009 over the real estate crash, the subprime real estate and the banking crash, gold doubled in price.
Gold will double again.
And if you wanna maintain your value, you better get some.
So that's why I'm stressing, and say this is a commercial, say what, it may be a commercial because it's one of our sponsors, and this is Swiss America, but I'm also writing books with the head of Swiss America and telling you, if you go to our sponsor page, things like this Walking Liberty half dollar offer, where you can get 250 of these coins, basically for the price of the silver, And this is an introductory offer.
Just fill out that form and Swiss America will contact you.
Get your IRAs, your 401Ks somewhat into gold.
Have some gold and silver.
Silver is probably going to appreciate faster than gold because it costs less.
And gold at $2,000 an ounce is going to look cheap in about a year and a half.
Right now we're at the very beginning of going into Well, it will be a very, very deep crash.
And by the way, yesterday I commented that Germany is de-industrializing because it's shutting down its nuclear plants.
Population's getting older.
It's getting smaller.
Getting inundated with migrants.
We'll cover that in a minute, hopefully, here.
And someone said, oh, Germany's reignited its nuclear plants.
No, that's not correct.
Germany shut its nuclear plants down in April, shut down three in April, and they have not restarted.
So Germany is, you know, nukes are bad, and so Germany would rather go into economic decline Deindustrializing.
And as the United States and Europe deindustrialize, the only country really re-industrializing right now is China.
China's doing it in a massive way.
China's economy is also suffering.
And the world is rapidly going into a recession.
It's already been declared in Germany after two consecutive quarters of downward growth, economic growth.
Here in the United States, they continue not to want to declare we're in a recession, but the truth is we're rapidly going into one.
And there'll be some events that cascade this into an outright crash, which I'm telling you, if you've got your money in the stock market, you might as well go to the casino right now, because I think the stock market's at a high And it's dependent on more money being pumped into it.
We didn't get a debt ceiling deal where there is no debt ceiling for the next two years.
Now, there's going to continue to spend money.
Well, that liquidity will pump up the stock market for a while.
But eventually, this constant spending of trillions of dollars, we're now at $33 trillion, the rate at which we're accumulating national debt is accelerating.
It's another one of these trends.
Once we get to $40 trillion, and we could get there very quickly under the Biden administration, under these Democrats, Who, by the way, are desperate to censor us.
How can you have a demented guy, a guy going into senior dementia, being President of the United States?
Well, the big guy is Obama, let's face it.
And the next plan is to run Michelle for office, which I believe that'll be the Democrats' 2024 candidate.
And Obama's behind the scenes pulling the levers.
He said he wanted to be president when someone who is a dummy president was just holding the job and he could behind the scenes calling the shots with Valerie Jarrett and Susan Rice and his other puppets.
That's the reality of what's going on.
And, of course, if Tucker Carlson dares say that he's a want-to-be tyrant and Fox News has to apologize for it, you know, again, we can't speak the truth.
It's censored.
Chris, want to comment on it?
You've got a very nice meme there.
Yeah, that's Walter, the Jeff Dunham dummy, the angry old guy.
Puts some sunglasses on him, gives him a little bit of white hair, and he actually looks just like Joe Biden, so we just let it Joe Biden impersonations that way.
But it's pretty bad.
It's the poor guy.
The guy's a puppet.
I believe that the party influenced him with the ambitions that he's had and failed at four times, I believe it was, trying to run for president because he was seen through several times.
He lied about his time and his placing in law school.
And then on forward, he's the epitome of the career politician who's done nothing, yet he's thrust in this position where the only time he actually sounds coherent is when he's screaming angrily about the same things Donald Trump said, make things in America.
That's the only time he ever sounds coherent.
That's the easy one.
The fact is, the puppeteers up there are trying their best to use a patsy, I guess you will, somebody who makes people feel comfortable, at least their base, and they can operate and do their filthy work behind this face.
Yeah, I mean, it's astounding that Donald Trump is indicted on charges on the Espionage Act This is not a classified document.
It's a 1917 law.
Well, you're pointing out the irony of this whole thing.
The Espionage Act, used by a sitting president in the late 1910s, used by a sitting president to jail or at least persecute a political rival.
It's being done a little over a hundred years later the same exact way.
I think also Chelsea Manning was, I think, prosecuted under the law as well.
It's just a, it's, I don't know why we still have it on the books.
It's an act that was suppressing speech in the 19, you know, during World War I. And yeah, Chelsea Manning was convicted by court martial of violations of the Espionage Act.
Well, again, this is, Why is Trump charged under the Espionage Act?
I mean, this is ridiculous.
They can't charge him under anything else.
Trump is not a spy.
He didn't commit espionage.
I mean, he's not trying to overturn the United States.
He's trying to support the United States.
This is just ridiculous, and it doesn't meet the smell test.
Go ahead, Chris.
It's one of those crimes that they have listed.
Some states do it too, but on the federal level, they have some of these crimes listed, like racketeering or something.
If you can't find a mafia guy guilty of anything else, you can find him guilty of racketeering.
You can't persecute a political prisoner for speaking or trying to claim he incited something or other when we all know what happened on January 6th as far as the small minority of people.
The idea is to find something or keep something on the books just to silence a political enemy or to hold somebody else down and throw them in jail if you want them there.
If you're powerful, you want somebody in jail, you'll find a way and these little laws are a way to do that.
Well, there's a provision in the Espionage Act which says that whoever, you know, having unauthorized possession of or control over any document, etc., photograph, blah, blah, blah, Which information relating to national defense that could injure the United States the advantage of a foreign country does not turn that over
To the government, when the government asks for it, has committed a violation of the Espionage Act.
Well, now, that presumes that Trump does not have the right to have the papers that he had.
And instead of all these boxes of classified material, there's only about 120 documents that were actually classified in any way.
They were all declassified.
By the way, the president can declassify anything.
I mean, Amy Jackson Berman, who is the One of the most corrupt leftist judges, U.S.
district judges, ruled in the Clinton case, the socks case, where he had various tapes in his socks drawer that he didn't want to turn over.
She said basically the president can do whatever he wants with documents.
The president has the right to do so.
I mean, it's, you know, the arguments were made during the impeachment trial that the president can do about anything.
In fact, do, you know, even violate laws if it's in the defense of the United States as commander-in-chief.
Powers are exceptional.
So to prosecute the president under the Espionage Act is really pretty silly.
When you understand that the President, Donald Trump, can make all the arguments in the world that he had the right to these documents.
He wasn't trying to damage the United States.
He wasn't Chelsea Manning.
He wasn't working with the foreign enemies of the United States.
It's like Russia collusion all over again.
So, I think this is a completely... But Biden's corruption is so outrageously out there in the obvious.
That he's let alone.
Yeah, it's not being covered.
It's not being talked about.
And that's because his administration is in power.
And let's like you said before, even the Republicans don't want this to happen.
They don't want none of these politicians want an outsider as president.
And they want to make sure they tell the people of America never to do that again.
Right.
We've got some more things posted today.
Take a look at them.
But we're running over time and I'm going to Keep this program until the about half hour, which I like to keep it in to.
And in the end, God will win.
These things look desperate there.
The left is intentionally deconstructing America.
The left wants to bring down capitalism.
We are committing suicide.
I mean, as I say, we exhale carbon dioxide and the left wants to eliminate cows because they fart methane.
This is a suicidal movement.
It's a depopulationist movement.
And they think that by reducing the power of the United States, You know, presidents like Clinton and Obama aspired to have the United States be less powerful than it is today.
And a less powerful United States means a less free United States.
We're losing our freedoms to these people.
On the insane insanity of it, I think Americans are going to wake up when the crisis occurs.
When you can't feed your family, are you going to care about transgenderism?
And take a look at what they don't want you to eat meat.
They want you to live in tiny houses.
They want to take away your cars.
They want to take away your gas stoves.
Is this the way you want to live?
That's the fundamental question because this woke life will construct a reality for you that is a nightmare.
And it will ultimately be in the service of the World Economic Forum, who will ultimately win.
They're just using the woke left as the, you know, convenient idiots who can do their cause of deconstruction.
But, you know, I think the fundamental issue here is, are the mothers of America willing to have their children made into sexual perverts starting in kindergarten?
And if they are, that's what will happen.
If they're not, then these mothers better start getting interested in the local school boards, better come in and, through legitimate, peaceful means, say, not my child.
There's no compulsory reason you have to send your child to a public school.
There are alternatives.
Follow the law, stay within the law, But beat lawfare by exposing that these people are twisting and bending laws in order to defy the Constitution and beat law by using law in a criminal way, and reading it in a way the law was never intended to be read.
This Espionage Act was never intended to put into prison a president of the United States.
And we are already a banana republic if the corrupt president, obviously taking bribes
from Ukraine and China and who knows whom else, is in power.
The Department of Justice will not investigate.
The former president who wanted to make America great again is now going through not only two impeachment trials, a false Russian collusion, but now an indictment over a law, an obscure law, with a provision that is misapplied in order to indict him.
That's the Espionage Act of 1917.
This is Dr. Jerome Corsi.
In the end, God always wins.
God will win here, too.
I hope and pray it does not involve nuclear war.
Spirit of Second Chronicles 714, and I'm going to next week start reading 714 to you, which is basically we need to get down on our knees and repent, ask God to forgive us for letting the Supreme Court take God out of the school starting in the 1950s.
God will win here too.
And this is Dr. Jerome Corsi.
Today is Friday, June 16th, 2023.
We are broadcasting on TheTruthCentral.com.
We're on Twitter.
They finally gave us a blue check validation.
That took only years after I'd been removed from Twitter.
Still being shadow banned by YouTube, but get us on Rumble.
A lot of channels we're on.
Just take a look at my website.
Explore that website.
People are saying I look younger.
Look at my Vital C. It's remarkable.
Carbon 60.
And we're going to be doing much more on this, including some special programming.
