by Wolf Richter
Wolf Street
The BLS uses the Census Bureau’s understated population estimates that ignore the surge of immigrants. But the CBO’s estimates pick them up. We take a look.
The Congressional Budget Office (CBO) and the Census Bureau have widely different estimates of US population growth for 2022 and 2023 because they have widely different estimates of immigration.
The CBO picked up on the huge wave of immigration. It estimated that net immigration in 2022 rose to 2.67 million immigrants, and in 2023 it rose to 3.30 million immigrants, the highest in its data going back to 2000, and about triple the average rate between 2000 and 2021 (1.05 million immigrants per year). So, population growth:
Because of “Coffee with TF” last Friday, we didn’t record our usual holiday weekend Jackass. But don’t dismay. The Jackass graciously pushed back a few days and he stopped by on Tuesday to record this very insightful podcast.
Did you hear about the new streamlined tourist visa to Saudi Arabia? I’m sure you’re standing in line for it already.
On Wednesday’s broadcast of MSNBC’s “All In,” former Biden Chief of Staff Ron Klain stated that “Prices are too high” and “the price of gasoline is still high, other prices are still high, and people feel that pinch.” And President Joe Biden “needs to make more progress on that.” He also stated that Biden has “to try to use his tools to try to bring more order at the border and to try to clean up the mess that he was left by Donald Trump.”
Misery loves company, as they say. But does financial irresponsibility also enjoy spending a little quality time with friends? If so, it’s quite a party. While the U.S. government is famously running up debt to stratospheric levels, governments around the world have been spending beyond their means and borrowing to make ends meet. The likely result: financial markets put at risk by over-extended governments and slow economic growth for pretty much everybody.
Tens of thousands of American families continue to demand justice for what they believe are the wrongful deaths (murders) of loved ones during the COVID-19 pandemic. Such justice soon may be coming due in large part to the dedicated efforts of two attorneys in Florida (working pro bono) to thoroughly research the criminal codes of 25 states to identify crimes committed by various high-level officials and organizations prior to and during the COVID-19 pandemic.
A landmark study conducted over the past 15 years has concluded that most children who experience confusion regarding their gender identity grow out of it and go on to feel content with their lives as men and women.
The price of gold continues to surge to new all-time highs above $2,300. The price of silver has also begun to advance toward the $30 level, currently trading at $27.25.
Legendary financial and geopolitical cycle analyst Martin Armstrong has new data on President Biden’s approval numbers. Nearly two years ago, President Biden’s real job approval rating in America was just 12%. More than one year ago, the real Biden approval number slipped to 9.5% (and stayed there) according to Armstrong’s world renowned “Socrates” predictive computer program. Now, Biden’s rating tumbled again. Armstrong says, “It is basically hovering around 7.5% to 8% at this stage. I know this goes against the mainstream media, but if you look at Google, it is really politically motivated. . . . The other number you need to look at is the confidence in government, and it is at 28%. . . . This number is unheard of since World War II. (I have another confidential data miner source who backs up Armstrong’s numbers, including the latest 8% job approval number, with nearly identical Biden job approval numbers going back two years. So, yes, there are two solid sources for Biden’s true approval rating.)
A lot of people seem to have forgotten about the war in Ukraine. That’s a mistake.
The harder the authorities and pundits push the “inflation is under control” narrative, the faster they erode public trust and confidence in the future value of labor and “money.”
In case you thought anybody in Washington was driving this thing, they are not.