Economy
Video: Reporter Refuses To Accept Psaki’s Attempt To Blame Russia For Gas Price Surge
“It sounds like you are blaming Putin for the increase in gas prices recently, but weren’t gas prices going up anyway because of post-pandemic supply chain issues?”
Published
1 year agoon
Steve Watson

As the price of gas surged to a national average of $4 and even surpassed $7 in some areas, White House Press Secretary Jen Psaki attempted to deflect the blame away from the Biden administration, but one reporter refused to accept it.
We are currently at a 7 day rise in #gasprices of 43.7c/gal. If we surpass 49.0c/gal ago, we will be at the highest ever 7 day rise in average price.
— Patrick De Haan ⛽️📊 (@GasBuddyGuy) March 6, 2022
BREAKING: According to GasBuddy data, the US national average has JUST set a new all-time record: $4.104/gallon, eclipsing 2008's record of $4.103/gal. The higher prices this time will likely stay around far longer. #oil #gasprices https://t.co/8RgHCC9sK3
— Patrick De Haan ⛽️📊 (@GasBuddyGuy) March 7, 2022
As we noted earlier, gas prices are now higher in places than in zombie apocalypse movies, an entirely predictable reality, but the White House would have Americans believe it’s all because of Vladimir Putin.
"I want to read to you, if I could, Jen, some comments from people we've met at gas stations today…" pic.twitter.com/J7lzUOIXXg
— Breaking911 (@Breaking911) March 7, 2022
Fox News reporter Peter Doocy wasn’t willing to quietly accept Psaki’s deflection, noting “It sounds like you are blaming Putin for the increase in gas prices recently, but weren’t gas prices going up anyway because of post-pandemic supply chain issues?”
DOOCY TIME: "It sound like you are blaming Putin for the increase in gas prices recently, but weren't gas prices going up anyway b/c of post-pandemic supply chain issues?"
— Curtis Houck (@CurtisHouck) March 7, 2022
Psaki says "there's no question that…the increase…is a direct result of the invasion of Ukraine." pic.twitter.com/78dlMbGkNB
Incredible, Psaki doubled down on the lie, claiming “…there’s no question that…the increase…is a direct result of the invasion of Ukraine.”
Doocy noted that Biden halted new gas and oil leases on public land in his first week in office:
Psaki: "Let me finish."
— Curtis Houck (@CurtisHouck) March 7, 2022
Doocy: "An executive order, his first week halted new oil and gas leases on public land."
Psaki: "Let me give you the facts here & I know that can be inconvenient, but…they're important…There are 9,000 approved…permits…not being used." pic.twitter.com/LkLIL0Cvob
He continued to press Psaki on how high prices have to go before Biden would consider reversing the previous executive actions, also noting that Biden stopped the construction of the Keystone XL Pipeline.
“Gas prices are approaching an all-time high per gallon. How high would they have to get before President Biden would say, ‘I’m going set aside my ambitious climate goals adjust increase domestic oil production, get the producers to drill more here, and we can address the fossil fuel future later?’” Doocy stated.
Psaki responded by blaming oil companies and falling back on the age old claim of being better than Trump. “Well, again, Peter, the US produced more oil this past year than in President Trump’s first year,” she said.
Doocy: "Would President Biden rescind his executive order that halts new oil & natural gas leases on public lands?"
— Curtis Houck (@CurtisHouck) March 7, 2022
Psaki: "Well, 90% of them have been on private lands…[T]here are 9,000 unused approved drilling permits, so I would suggest you ask the oil companies…" pic.twitter.com/PbETC96jTL
Psaki declared “if we’re looking to the future, and what, how, what we can do to prevent this from being a challenge in future crises, the best thing we can do is reduce our dependence on fossil fuels and foreign oil, because that will help us have a reliable source of energy so that we’re not worried about gas prices going up because of the whims of a foreign dictator.”
Doocy fired back, “You guys think that asking Saudi Arabia or Venezuela for Iran is reducing our dependence on foreign oil?” pointing out that this is the administration’s strategy:
While the Biden administration asks Saudi Arabia, Venezuela, and Iran to produce more oil, Psaki says "the best thing we can do is reduce our dependence on…foreign oil."
— RNC Research (@RNCResearch) March 7, 2022
…that's not reducing our dependence on foreign oil, it's increasing it. pic.twitter.com/neNUI2c89N
Jen Psaki confirms Biden administration officials are discussing "energy security" — purchasing more oil — with countries like Venezuela and Iran.
— RNC Research (@RNCResearch) March 7, 2022
Biden would rather get oil from terrorists than Texas. pic.twitter.com/iGhj0YEw7h
Psaki on Europe being dependent on Russian oil:
— RNC Research (@RNCResearch) March 7, 2022
"They need to diversify their means of getting oil" pic.twitter.com/Za0aa2tJg4
Remember when we had a President who warned us on becoming dependent on foreign oil?
— Benny (@bennyjohnson) March 7, 2022
They laughed at him.
But he was right.
pic.twitter.com/XrKzArdMft
Remember in 2018 when Democrats were so outraged with high gas prices that they instituted a whole campaign to “Demand Lower Gas Prices”? They demanded that the Trump administration lean on OPEC nations to ramp up oil production.
In 2018, Dems held a press conference demanding lower gas prices. Today, this same gas station's prices are $1.10 higher for a gallon of gas.
— Abigail Marone 🇺🇸 (@abigailmarone) March 7, 2022
Weird that Dems haven't planned another press conference… pic.twitter.com/uNZN9vlq1e
Gas prices are now even higher but I guess ‘it’s OK when we do it’.
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Economy
Video: Amid Banking Collapse, White House Says “We See A Strong Economy”
Strange choice of words
Published
5 days agoon
23 March, 2023Steve Watson

As inflation continues to skyrocket and amid huge banking collapses, the White House press secretary declared Wednesday that the Biden administration “sees a strong economy.”
CBC’s Caitlin Huey-Burns asked Karine Jean-Pierre about Joe Biden’s support for Federal Reserve Chairman Jerome Powell and what the Fed is doing to attempt to reduce inflation.
“We understand what the American people are feeling, that is why we have made it a priority to do everything that we can to lower costs for Americans,” Jean-Pierre responded.
Then came the kicker.
“We do not see a recession or pre-recession. We see a strong economy and it’s because of the work that this president has done,” Jean-Pierre declared.
WH press sec: "We do not see a recession or pre-recession. We see a strong economy and it's because of the work that this president has done." pic.twitter.com/ulBLiAcYRQ
— The Post Millennial (@TPostMillennial) March 22, 2023
You don’t see it or there isn’t a recession?
Strange choice of words.
Keep saying it and it might become reality:
Karine Jean-Pierre: "When we look at how strong the economy is, it's because of the president's work" 🥴 pic.twitter.com/nm7lcn3I4H
— RNC Research (@RNCResearch) March 22, 2023
When asked if there will be an economic downturn owing to two giant bank collapses, KJP had no answer, other than to quote the Fed chairman saying the economy is sound:
Karine Jean-Pierre is unable to say if Americans should expect "an economic slowdown" after the second- and third-largest bank collapses in American history pic.twitter.com/xJynt6XP4h
— RNC Research (@RNCResearch) March 22, 2023
Powell claims that rampant money printing isn’t driving inflation:
The @federalreserve's Powell on runaway fiscal spending that the Fed financed through money printing: "Actually not what's driving inflation" pic.twitter.com/kcciVXQHmm
— Tom Elliott (@tomselliott) March 22, 2023
The biggest lie the @federalreserve tells is that 2% inflation is somehow in everyone's interests. It's an undeclared, regressive tax that from an unaccountable agency. Americans suffer while politicians prosper. https://t.co/z2EIIA2Uuu
— Tom Elliott (@tomselliott) March 22, 2023
Treasury Secretary Janet Yellen claims that just growing debt forever is sustainable:
.@SecYellen says Biden taking debt to 109 percent of GDP is "sustainable"; is unable to cite a level at which our inexorably growing debt will no longer be "sustainable" pic.twitter.com/DMKHuOQRsL
— Tom Elliott (@tomselliott) March 22, 2023
Are they wilfully ignorant or just flat out lying?
"The U.S. banking system remains sound" — @SecYellen https://t.co/OvIyb5IgYA
— Tom Elliott (@tomselliott) March 21, 2023
Distressed Debt Soars By 29%, Or $66 Billion, In One Week Amid Surge In Bankruptcies https://t.co/fjzzAfL47Q
— zerohedge (@zerohedge) March 23, 2023
If only there were signs pic.twitter.com/6cABiTpxzd
— zerohedge (@zerohedge) March 23, 2023
"We Are Headed For Another Train Wreck": Bill Ackman Blames Janet Yellen For Restarting The Bank Run https://t.co/N1hbI1QPNM
— zerohedge (@zerohedge) March 23, 2023
JPM: "$1.1 Trillion Has Exited The Most Vulnerable Banks" https://t.co/dfIEONwwbB
— zerohedge (@zerohedge) March 22, 2023
Umm … the banks are melting
— Elon Musk (@elonmusk) March 23, 2023
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Economy
Elon Musk Responds To Biden’s “Pay Your Fair Share” Tax Tweet
“I paid more income tax than anyone ever in the history of Earth”
Published
1 week agoon
20 March, 2023Steve Watson

The world’s richest man Elon Musk has responded to a tweet sent out by Joe Biden calling for higher taxes for billionaires, noting that he’s paid more tax than any human ever in the history of the planet.
Biden sent out the following tweet calling on rich people to “pay your fair share,” along with a claim that the average tax billionaires pay is three percent.
Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share.
— President Biden (@POTUS) March 18, 2023
I think you ought to pay a minimum tax of 25%.
It’s about basic fairness. pic.twitter.com/oHgreYCdUz
Musk responded, noting that he paid a whopping 53 percent tax on Tesla stock options at both the state and federal level, and that he paid more taxes than any person on Earth in 2021 ($11 billion) and will do so again for the 2022 fiscal year.
Musk also called for a fact check on Biden’s three percent claim.
I paid 53% taxes on my Tesla stock options (40% Federal & 13% state), so I must be lifting the average!
— Elon Musk (@elonmusk) March 18, 2023
I also paid more income tax than anyone ever in the history of Earth for 2021 and will do that again in 2022.@CommunityNotes, is the 3% number cited above accurate?
Musk’s call led to the following correction from the Tax Foundation being added to Biden’s tweet, showing how Biden is either just flat wrong or lying:

Others chimed in on Musk’s comments:
Don't disturb the narrative with facts
— CTO Larsson (@ctoLarsson) March 19, 2023
The country would be much better off if you were able to keep that money, and were able to invest it productively, rather than turning it over to government to blow it on consumption. Our nation will suffer a lower standard of living as a result.
— Peter Schiff (@PeterSchiff) March 19, 2023
Correct, its horrifying to see what they waste our money on. They burn it, they send it to Ukraine launder and spread to their friends and back to themselves.
— Myamoto Musashi (@M3yamotoMusashi) March 20, 2023
Imagine how much better the world would be if instead of Elon Musk paying millions in taxes, he could invest those millions in new technologies (and of course the colony on Mars).
— Nick Flor 🥋+🇺🇸 (@ProfessorF) March 19, 2023
They can’t even manage their own spend and they expect billionaires to cover it. Even if you taxed billionaires 100% it wouldn’t stop our fundamental issues.
— Tesla Owners Silicon Valley (@teslaownersSV) March 18, 2023
While others had some choice responses for Biden:
How much tax did you pay on the 10% 🤨
— Yanky (@Yanky_Pollak) March 19, 2023
Does that include the money you sold us out for to Ukraine and the CCP?
— Lori Mills (@LoriMills4CA42) March 19, 2023
The claim that billionaires pay only 3% taxes is highly deceptive. It's based on counting unrealized capital gains as income–which they're not. Look–we can have a debate about how much to tax people, but let's keep the debate honest.
— Michael Isenberg (@TheMikeIsenberg) March 18, 2023
Except most billionaires are employing hundreds if not thousands. They're contributing to the growth and sustainability of society. They should be incentivized for that, not punished.
— Joel Bodker (@Joelbodker) March 18, 2023
There should be a flat tax for all citizens, regardless of income. That is true equality.
Stop laundering billions of our tax dollars to Ukraine and give us back the 10% you got from it big guy 🖕
— Real Phil Jones ™🦅🇺🇸 (@RealPJones) March 18, 2023
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Economy
SVB’s London Bankers Received Up To $36 Million In Bonuses Days After BoE-Orchestrated Bailout
Published
1 week agoon
19 March, 2023Zero Hedge

Bankers at the London branch of Silicon Valley Bank reportedly received tens of millions of dollars in bonuses just days after the Bank of England orchestrated a rescue package that led to Europe’s largest lender, HSBC, buying the failed bank’s subsidary for just £1, Sky News reports.
Sources described the bonus pool as “modest”, and said it totalled between £15m and £20m.
It was unclear on Saturday how much had been awarded to Erin Platts, the UK bank’s chief executive or her senior colleagues.
One insider said the bonus payments were a signal of HSBC’s confidence in the talent base at its new subsidiary and that the buyer had been keen to honour previously agreed payments in order to help retain key staff. –Sky
What’s more, bonuses were reportedly doled out to US staff just hours before the Santa Clara, California-based bank collapsed. The bank was taken into FDIC ownership, while SVB Financial Group has filed for Chapter 11 bankruptcy protection as it looks to find buyers for their remaining assets.
The UK arm of (formerly) SVB employs around 700 people. The London branch’s ‘guided demolition’ was coordinated with UK Prime Minister Rishi Sunak, who played a pivotal role in an emergency auction that drew interest from several challenger banks, including the Bank of London and Oaknorth.
According to insiders, if HSBC hadn’t stepped up, the bonuses wouldn’t have been paid, while another insider pointed out that stock held by senior executives and other employees had been rendered worthless amid the implosion.
“The UK’s tech sector is genuinely world-leading and of huge importance to the British economy, supporting hundreds of thousands of jobs,” said chancellor Jeremy Hunt. “We have worked urgently to deliver on that promise and find a solution that will provide SVB UK’s customers with confidence.”
“[This] ensures customer deposits are protected and can bank as normal, with no taxpayer support.”
The government had been lobbied intensively last weekend by hundreds of tech entrepreneurs about the parlous state of SVB UK.
They warned of “an existential threat to the UK tech sector”, adding: “The Bank of England’s assessment that SVB going into administration would have limited impact on the UK economy displays a dangerous lack of understanding of the sector and the role it plays in the wider economy, both today and in the future.”
The founders warned Mr Hunt that the collapse of SVB UK would “cripple the sector and set the ecosystem back 20 years”. -Sky
“Many businesses will be sent into involuntary liquidation overnight,” were SVB UK not rescued, wrote the entrepreneurs.
This post was originally published at Zero HedgeTrending
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