Welcome Back Carter

2021 May 19
by bc3b

The Biden presidency is only four months old and Americans are already singing “Welcome back Carter.” Not that Jimmy Carter wasn’t a horrid president, he was. But Biden seems to be moving at warp speed to overtake Carter’s four years of mistakes in the first year of his presidency.

We were concerned that a Biden presidency would be Obama’s third term, but it’s shaping up more like Jimmy Carter’s second term with the worst of Obama thrown in.

Biden isn’t just failing, but he is failing spectacularly on every front: the border crisis, employment, inflation, loss of confidence, totally out of control spending, etc.

Biden and Harris claim credit for Trump’s accomplishments yet blame him for everything that has gone wrong – on the border, in the Middle East and the economy.

Meanwhile, the media gushes over Biden, hiding his failures while praising him as a devout (baby killing) Catholic, family man and all-round nice guy who doesn’t send mean tweets.

Joe Biden’s presidency is spiraling out of control. By any reasonable metric he has failed as a commander in chief. He has failed on immigration, he has failed on the economy, he has failed to create jobs, he has failed on foreign policy, he has failed on handling the pandemic, he has failed to unite the country, and he has failed as a leader. But that’s not what the mainstream media would have us believe.

On Thursday the Washington Post, the outlet that decided 100 days into Biden’s presidency that it would no longer fact-check him, published an article titled, “ ‘Better days are ahead’: Maskless Biden marks milestone in virus battle.” On Friday the New York Times ran an article titled, “Beneath Joe Biden’s Folksy Demeanor, a Short Fuse and an Obsession With Details.” And on Saturday, USA Today published an article titled “Joe Biden has proven an elusive target for Republicans. With the Cheney fight over, their focus is back on the president.” All these articles find ways to excuse and deflect attention from the crises Biden has ignored, worsened, and even created in his first four months in office.

But all is not quiet on the Western front in the Biden White House, despite what the administration and the media tell you.

In April, 178,622 migrants entered our country illegally, marking a 3 percent increase over the 172,000 who broke the law in March, the highest number in 20 years. But don’t worry; Biden in his own words has “now gotten control” of the situation, and there’s still no reason for Vice President Kamala Harris to visit the border.

And although there are currently 8.1 million job openings in the U.S., we somehow only managed to add 266,000 jobs in April, or nearly three-quarters of a million less than the one million that Wall Street economists were projecting. This after the March job numbers were already revised down another 140,000. Might it have something to do with Biden’s insistence that Americans receive a $300 weekly bonus check to stay home? Even those making $32,000 a year would see a raise by going on unemployment.

To make matters worse, last Wednesday, it was revealed that the Consumer Price Index rose 4.2 percent from a year ago, the biggest yearly jump since late 2008. But don’t worry; inflation is not really a big deal for the middle class. Biden insists that “There’s more evidence that our economy is moving in the right direction.”

Read more:

Hat tip: American Spectator

Fact Maniac on Twitter: "In 1981, a Japanese interpreter translated a joke that Jimmy Carter delivered during a lecture as: “President Jimmy Carter told a funny story. Everyone must laugh” and the

Welcome back!

50 Responses leave one →
  1. 2021 May 19 3:59 am
    bc3b permalink

    Dominion Voting Systems issue in yesterday’s Pennsylvania election. Surprisingly, it favored the Democrats:


  2. 2021 May 19 4:30 am
    bc3b permalink

    In case you are not already in love with Marjorie Taylor Greene, watch this:


  3. 2021 May 19 5:38 am
    drdog09 permalink


    Interesting comment about Zell.

    As it is precious metals are still undervalued. Basel III takes hold in a couple of months. All the paper precious markets go ‘poof’ as per the new rules to make market in a metal you have to a 85% physical position to be in the market. The short sellers and paper swappers are going to be in a panic. LBMA probably goes dark since if the principals are long physical not much need for allocation.

  4. 2021 May 19 5:41 am
    drdog09 permalink

    “he has failed to create jobs,”

    A finer point, he failed to fill the jobs. There are millions of jobs right now thanks to the capitalist system. But thanks to stimmys people would rather sit on their fat asses than go back to work.

    Oh and you know ole Jimmy Carter` will be taking shine when ‘Carter Country’ comes back into syndication on MeTV. 🙂

  5. 2021 May 19 6:20 am
    Eph permalink

    “But thanks to stimmys people would rather sit on their fat asses than go back to work.”

    The question now is…

    Keep adding more stimmys or fill jobs?

  6. 2021 May 19 7:00 am
    drdog09 permalink

    The more stimmys they print, the worse it will get. So of course they will print more stimmys. Question asked and answered there Eph.

  7. 2021 May 19 7:05 am
    JimNorCal permalink

    5, no! It’s not dead!
    OK, maybe it’s mostly dead. For a while.

  8. 2021 May 19 7:11 am
    drdog09 permalink

    They found it — https://www.zerohedge.com/political/auditor-information-deleted-maricopa-county-election-machine-has-been-recovered — called that one. Unless someone is doing a multipass zero wipe, putting a bullet thru the drive, or running it thru a bulk erase mechanism good chance the data can be recovered. Forensic software is improving in leaps and bounds.

  9. 2021 May 19 7:14 am
    drdog09 permalink


    Looks like everything is down. Silver is down .21c, gold up 15?

  10. 2021 May 19 7:59 am

    “Tough On Russia” Biden Blinks – Waives Sanctions On Company Overseeing Nord Stream 2 Pipeline


    Hahahah… where are the RU,RU,RU cries and likely impeachment hearing against Biden that you damn well know we’d be hearing if the shoe was on the other foot. Not that I care as this project was gonna happen come hell or high water no matter what anyway, but you know it would hysteria level 11eventy if it was Trump.

  11. 2021 May 19 8:09 am

    9 – Or simply keep using\reusing said drive with lots of disk churn that happens to by chance keep writing over the sectors previously allocated to files you wanted to recover.

  12. 2021 May 19 8:44 am
    drdog09 permalink

    So they want you to keep wearing a mask eh? — https://youtu.be/ckYWfJrMCjg — No thanks.

    This is in Russian. Its a Chin made mask. That little black thingy is alive. Reports popping up in Europe as well.

  13. 2021 May 19 8:50 am
    gnqanq permalink

    To make matters worse, last Wednesday, it was revealed that the Consumer Price Index rose 4.2 percent from a year ago, the biggest yearly jump since late 2008.

    Shadowstats (John Williams), shows inflation running at about 8% using the 1990 methodology or about 12% using the 1980 methodology.

    Nobody buys the 4.2% rate.

    From Greg Hunter with Craig Hemke.

    Hemke says the Fed is stuck and is fearful of rising rates with massive U.S. debt. Hemke contends, “The Fed cannot allow the bond market to sell off because that would translate to higher interest rates. We are already at $30 trillion in a federal budget deficit . . . and they are averaging 1.5%. So, they are paying $450 billion in interest alone. If that goes to 3%, they are paying $900 billion. If that goes to 4.5%, they are paying $1.3 trillion. The whole budget deficit has already exploded, and there is no turning back. . . . You saw the CPI at 4.25 %. Who in their right mind is going to buy a Treasury note at 1.65%? They will guarantee themselves a loss of purchasing power of 2.5%. . . . The Fed is promising that the inflation rate is going to come down, and it will be ‘transitory.’ I say it’s not ‘transitory.’ We have $3 trillion in deficit spending this year already, and it’s only going to get worse. We are on the path of Modern Monetary Theory (MMT), and the Treasury issues the bonds and the Fed just buys the bonds. . . . This creates a very favorable environment for owning physical gold and physical silver even with the phony baloney pricing scheme of futures contracts.”

    Can you say hyperinflation or Zimbabwe or Weimar? The ride is going to get a bit bumpy.

  14. 2021 May 19 9:07 am
    drdog09 permalink

    GN, 14,

    I have a different thought and there are a few fin managers thinking the same. — We are entering a period of, its not how much you are going to make, but how little you will lose. That Treasury rate is indeed horrid and a loser. But…. compare that vs being stuck in a 40% equity sell off? Now the Treasury does not look so bad.

    The rising prices in equities can’t go on forever regardless if the Fed is buying in or not.

  15. 2021 May 19 9:25 am
    PresidentRonaldPaul permalink

    Buy every dip imo.
    Still bullish for both stocks and crypto

  16. 2021 May 19 9:28 am
    drdog09 permalink

    “Buy every dip imo.”

    Yeah, but to be able to buy every dip, you have to predict every top. Even professionals can’t to that consistently.

  17. 2021 May 19 9:38 am
    gnqanq permalink

    drdog – I listen to Greg Hunter (USAWATCHDOG – great interviews with various financial people). Most of the people would agree with you. How to maintain the value you have or reduce how much you are going to lose. Will there be winners – yes, BUT it is an issue of trying to get out alive.

  18. 2021 May 19 9:46 am
    drdog09 permalink



  19. 2021 May 19 9:48 am
    PresidentRonaldPaul permalink

    Ah good.
    Looks like 1929 is over already

  20. 2021 May 19 9:52 am
    JimNorCal permalink

    “That Treasury rate is indeed horrid and a loser. But…. compare that vs being stuck in a 40% equity sell off? Now the Treasury does not look so bad.”

    Go long mattresses LOL. Then, stuff them with cash.
    Yeah, cash is trash. And “value” stocks are losing value. Growth stocks are bid to the skies and at best are break even. Precious metals and high quality assets (top art work, beach front property, …) are probably OK. But note that gov’t has ways to make your real estate valueless.
    I would say Bitcoin could be an asset that holds you above the decay of fiat currency but the world gov’ts seem to think they can crush it (we’ll see).

  21. 2021 May 19 10:35 am
    JimNorCal permalink

    A mid-size software company CEO posts this zerohedge link with the following comment–

    Health insurance costs at my company may double this renewal. The more people drop insurance (and work) for the dole, the bigger the money grab from those who play by the rules. Obamacare was designed to destroy private insurance. Solid design.


  22. 2021 May 19 11:17 am
    drdog09 permalink


    I remember that piece Hugh-Smith did. Some points have aged out. But he is right in the main about health care.

    Part of the problem is what we have done to ourselves. When I was a shaver you paid for the services you used — cash. Med ins was a small business, unlike today. And yes some people opted to die back then than run up huge bills, cuz they could not pay them back if they tried. Then there is the fact we have come a long way in 70 years. In 1951 the most advanced thing was a chest Xray. Now you can get an MRI of your entire body in HD. But today still the xray will $50 the MRI $600 or more. We might be surprised how cheap healthcare might be if we were required to pay cash today.

    Everybody wants the future but they want somebody else to pay for it today. We both know it does not work that way, yet a good % of the pop think that way.

    When it all goes crashing down, healthcare will go with it.

  23. 2021 May 19 11:23 am
    drdog09 permalink

    Doubtful its a vaccine folks — https://www.breitbart.com/politics/2021/05/19/anthony-fauci-we-will-require-coronavirus-vaccine-booster-shots-within-a-year/ — There are a few legacy Vaxx that require boosters but not every year. This is all a scam.

  24. 2021 May 19 11:39 am
    PresidentRonaldPaul permalink

    My thoughts on crypto today is that overall there is less and less enthusiasm for bitcoin and more and more enthusiasm for defi specifically ethereum based things (although cardano etc also)

    I think ppl continue to sell btc to go longer defi, and although this is good for their price once you remove the backbone of the market that all crypto is tied to, which is bitcoin it’s almost like biting the hand that feeds as everyone rushes to alts (or rushes out the risk spectrum if you could say if you think the alts are riskier)

    ultimately this just takes me back to the flippening that I’ve become increasingly convinced will happen where ethereum and defi have to take over the lead role in the crypto space )even though philosophically people object to this from a libertarian perspective.) Ethereum’s networks effects are just becoming increasingly strong so this seems to be the outcome to me.

  25. 2021 May 19 11:44 am
    PresidentRonaldPaul permalink

    Keep in mind no one is going to be able to read an MRI except a radiologist, which we have very few of. Sure someone else could make their own read, but they are likely to miss stuff and when they do they will be in court for malpractice. Oops missed that brain tumor but hey only charged you 100 bucks! Perhaps with AI we can bring the cost down if they can do the reads on such at some point.

  26. 2021 May 19 11:48 am
    PresidentRonaldPaul permalink

    btw there is a conspiracy theory….eh um… that gadolinium causes that 5G sensitivity syndrome that people claim. Might be bogus ………………………….

    but it definitely causes this nasty skin condition at times

    You don’t really want that dye unless you have to have it.

  27. 2021 May 19 1:17 pm
    PresidentRonaldPaul permalink

  28. 2021 May 19 2:07 pm
    drdog09 permalink


    First fair % of radiology reads here are done in India. — https://www.outsource2india.com/services/radiology.asp

    Second yes, AI will most likely take over MRI output in the future. It is already doing so to a certain degree in cancer treatment — https://www.sciencedirect.com/science/article/abs/pii/S0304383519306135. Trend is that AI will dominate mammography — https://futurism.com/artificial-intelligence-reads-mammograms-with-99-accuracy

  29. 2021 May 19 3:39 pm
    PresidentRonaldPaul permalink

    Asia bought the heck of the ethereum dip today.

  30. 2021 May 19 3:41 pm
    PresidentRonaldPaul permalink

    I was listening to real vision today, and they were saying the USA already has indirect yield curve control via Japan bc any time our yields go up the japanese investors come in.

  31. 2021 May 19 4:18 pm
    drdog09 permalink

  32. 2021 May 19 4:56 pm
    JimNorCal permalink

    If you had the infection, like Eph, be VERY careful about being vaxxed.

    To simplify, the sites where a recovered patient’s body fought off the virus—the lungs, the heart, the blood vessels, and even the brain, to name a few—remain physiologically “marked.” Vaccine-generated immune cells will attack these sites in the body as if they are still infected, potentially causing problems. Given the number of organs in the body that COVID-19 reportedly infects, Noorchashm’s explanation made me wonder if this phenomenon could cause the range of adverse reactions seen on VAERS data, from diarrhea to blinding headaches, high fevers, and shortness of breath. This study is the first to provide insight into a possible answer to those questions.

  33. 2021 May 19 5:11 pm
    JimNorCal permalink

    Someone alert JR, Epoch Times says several Oregon counties have voted to secede and join Greater Idaho.

  34. 2021 May 19 5:29 pm
    PresidentRonaldPaul permalink

    this shady exchange from 2017 was thought to go bankrupt but somehow they came back from the dead and told ppl they had 30 days or whatever to withdrawal. Only thing is they only did micro coins so needless to say they had one of the biggest doge holdings.
    problem….doge is now #3 coin
    here it is https://coinexchange.io/
    “May 18, 2021The closed exchange http://coinexchange.io/ has announced that it will resume withdrawals for the first time in about a year and a half.Due to the down market after 2018, the exchange could not be operated and the business withdrawal was officially announced, ending on October 15, 2019.This time, withdrawals will be resumed due to the official exchange closing procedure.Withdrawals will start on May 18, and the deadline will be announced separately.Relation:Cryptocurrency exchange withdrawal in 2019, to resume withdrawal of customer assets”

    aka what i’m getting at is this contagion came from the doge community along with contributions from the dogefather (elon) doing shitposting over the weekend.

  35. 2021 May 19 5:31 pm
    PresidentRonaldPaul permalink

  36. 2021 May 19 5:32 pm
    JimNorCal permalink

    “overall there is less and less enthusiasm for bitcoin and more and more enthusiasm for defi specifically ethereum”

    I’ve come to the same conclusion. It’s reassuring to have you say out loud what I’ve been noticing/thinking.
    Still there are risks. One you pointed out: if you undermine BTC, all coins pay a price.
    But also, I saw a Max Keiser vid in which he talked up BTC as “store of value” and talked down ETH as a DeFi leader for these factors–

    1) ETH security is far from being as good as BTC, the tech is immature, not solid at all plus they’re totally changing its underlying basis from proof of work to proof of stake. Will they get all the code, all the tradeoffs, all the design issues correct on first try?
    2) Gas fees (network usage fees) are way, way too high to be adopted by big firms. This is related to the previous point but basically it is an indicator that ETH is not ready for prime time. If that’s true, then another competitor could supplant it. Or they could make bad decisions and go down the wrong path, etc The point being that ETH is far from being the sure dominator of Decentralized Finance.
    3) ETH itself is not decentralized and can be controlled/shut-down by gov’ts, unlike BTC which can run autonomously with no central authority in charge.

  37. 2021 May 19 5:42 pm
    JimNorCal permalink

    “overall there is less and less enthusiasm for bitcoin and more and more enthusiasm for defi specifically ethereum”

    btw, ETH went up higher and longer than BTC in this cycle and BTC crashed first and hardest (at first). But in the last 2 days, it was ETH which went down more. For example, ETH on yahoo-finance is showing “down 31%” whereas BTC “only” down 14% LOL

    I was watching and the 2 prices were pretty coordinated except for BTC being 10x.
    So for a while it was 48,000 BTC and 4,800 ETH.
    Then 44,000 BTC and 4,400 ETH. Next 40,000 BTC and 4,000 per ETH.

    But now it’s BTC $36K and ETH at $2.3K
    Maybe Asia bought up a ton of ETH today but it’s not reflected in any price recovery that I can see.

  38. 2021 May 19 5:49 pm
    drdog09 permalink


    Look up ‘Covid ADE’

    Lets say you personally survived covid without Vaxx. A Pharma comes up with a mRNA drug for some other disease. You might not be able to take it. Worse unless you have continuity of care under a certain practitioner they might give you something that degrades you. Suxxx.

  39. 2021 May 19 6:17 pm
    PresidentRonaldPaul permalink

    Any time there is demand for something say a SPAC the market produces more and more of them until the market is satiated with so many SPACs there is no one left to buy them.

    Say the market wants bitcoin or doge coin… so then it creates shiba inu coin, and sanshu coin and HUA coin (chihuahua) coin, KISHU coin (another dog coin) etc. It can create them endlessly. People move more and more out risk spectrum into these until the back bone of the market bitcoin breaks.

    But I do think it was that exchange flooding the market with doge coin along with elon tweets that pushed things over the edge.

  40. 2021 May 19 6:49 pm
    PresidentRonaldPaul permalink

    and on the run up, we had no pullbacks so there were weak support levels. there was froth in market. When people push too far into alts, meme coins, defi, etc it can pressure btc itself, which has been the back bone of the market. So this was btc reigning in on the alts, defi, and the memecoins.

    But I’m still bullish. I like ethereum more and more and i still like BTC as well


  41. 2021 May 19 7:54 pm
    JimNorCal permalink

    28, I’m reluctant to invest in listening to the full TWO hour (!) interview LOL but I did watch the 30 sec intro. He mentioned and perhaps predicted that our econ world will experience a massive shift when natural resource producing countries like Russia and Canada stop taking payment in US dollars and switch over to digital assets (such as Bitcoin).
    Thought provoking.

  42. 2021 May 19 8:01 pm
    JimNorCal permalink

    40, “I do think it was that exchange flooding the market with doge coin along with elon tweets that pushed things over the edge”

    Yes, Elon played his part. And maybe at the behest of politicians since he is dependent on gov’t subsidies for the cars and gov’t approval for space work. There may be more going on behind the scenes too: China and Mongolia announced legal changes restricting crypto, I think India is continuing to try to do something too. Crypto’s definitely subversive.
    Chart analyst Scott Melker asks why ALL the crypto went down. The big ones BTC and ETH but also all the AltCoins as well. It’s not likely that a shadowy consortium owned all the different coins and conspired to dump at one. But he can shake a suspicious feeling that it ain’t all organic.

  43. 2021 May 19 8:08 pm
    drdog09 permalink

    US: “We would like to settle FX accounts… Your settling price?”
    Russia, China: “$90k/oz bid, $90k/oz ask. What would you like to do?”

    * Russia, China are buying/holding gold for a geopolitical reason. Strategic.
    * Even the IMF has 200 tons of the stuff? Why?
    * Any future reset will most likely be backed by gold.
    * India leaning towards banning digital coinage.
    * Russia already had digital coinage, not BTC or others. China has done the same.

    Various coins may survive but they won’t be the ‘official’ currency of the realm in most advanced States. The coin space will be fractured. Oddly that puts the WEF on the other side of the most likely doctrine by the G20.

  44. 2021 May 19 8:33 pm
    JimNorCal permalink

    44, agree that gov’ts won’t want crypto to succeed because it diminishes their power.
    And agree that they have some weapons at their disposal. But the crypto community has some factors in their favor, and some of them are rambunctious.

    The other trend affecting this is that a slow moving glacier of institutions are getting involved. Maybe Big Gov can cut them off at the pass, maybe not. But the tide is moving towards acceptance. I see a story like the one below nearly every day. And it’s a bit like the dot.com days where seasoned execs at name brand companies moved to tiny internet firms. Today there are plenty of top banking talents moving to crypto firms at this time.

    Wells will allow clients to hold crypto in their bank accounts.
    Before, this was forbidden.
    They picked an interesting day to announce this LOL

    In a special report on the investment rationale for cryptocurrencies, the bank said, “We believe that cryptocurrencies have evolved into a viable investment asset. There are over 9,000 cryptocurrencies, with $2.4 trillion in capitalization (as of May 7, 2021), and this depth and breadth allow additional analysis of their trends.1 Short-term factors suggest further deepening of the market. We believe long-term supply and demand trends support further industry growth, the potential for further compression in price volatility, and a possible role as portfolio diversifiers.”

    Today’s news is directly opposite to what John LaForge, head of real asset strategy for Wells Fargo Investment Institute, told media attending a 2021 outlook briefing in December. Then the bank said its analysts did not have a crypto recommendation and that clients could not hold crypto at Wells Fargo.

    Wells Fargo joins Citigroup, Goldman Sachs, BNY Mellon and JPMorgan as one of the big names in finance that have recently announced plans to expand into digital asset investment vehicles and services.

  45. 2021 May 19 8:46 pm
    PresidentRonaldPaul permalink

    btw I always knew that FDR revalued the dollar in terms of gold in one day.

    But putting it in percent terms is kind of shocking to me. 1933 the dollar fell 75%…..in one day

  46. 2021 May 19 8:52 pm
    JimNorCal permalink

    PRP, have you ever come across this analysis? It’s from way back in 2008. A couple of economists determined that FDRs polices prolonged the Great Depression by several years.
    Not exactly what gets taught in school. But oddly satisfying once you wrap your head around it.

    “Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. “We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”

    In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.

    “President Roosevelt believed that excessive competition was responsible for the Depression by reducing prices and wages, and by extension reducing employment and demand for goods and services,” said Cole, also a UCLA professor of economics. “So he came up with a recovery package that would be unimaginable today, allowing businesses in every industry to collude without the threat of antitrust prosecution and workers to demand salaries about 25 percent above where they ought to have been, given market forces. The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies.”

  47. 2021 May 19 11:22 pm

    “Nobody buys the 4.2% rate.”
    Cause it’s bullshit and everyone can see it, if nothing more than in their grocery receipts, esp when compared vs prior weight. 80’s is probably closer to the truth.

    34 – That’s nice and all but the corrupt legislatures of OR and ID haven’t.

  48. 2021 May 20 4:05 am
    JimNorCal permalink

    48, yes but it’s a sign of the times.

  49. 2021 May 20 5:40 am
    drdog09 permalink

    Guys its not Wells Fargo, its Wells Forgets.

    As an aside Berkshire finally dumped all their holdings in Wells late last week. Even Buffet finally could not stand their shoddy dealings.

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