Economic Collapse Report https://economiccollapse.report There's a thin line between ringing alarm bells and fearmongering. Fri, 17 Jan 2025 12:54:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://economiccollapse.report/wp-content/uploads/2024/09/cropped-Money-32x32.jpg Economic Collapse Report https://economiccollapse.report 32 32 236677365 Dinesh D’Souza: Trump’s Nominees Are Not Backing Down https://economiccollapse.report/dinesh-dsouza-trumps-nominees-are-not-backing-down/ https://economiccollapse.report/dinesh-dsouza-trumps-nominees-are-not-backing-down/#respond Fri, 17 Jan 2025 12:54:40 +0000 https://economiccollapse.report/dinesh-dsouza-trumps-nominees-are-not-backing-down/ In the face of heated confirmation hearings, Trump’s nominees are standing firm and refusing to submit under pressure. Their boldness has drawn a clear line: they’re not here to comply with demands but to answer questions honestly and directly. From their responses, we see a spirit of defiance that mirrors the persona of Trump himself.

A New Approach to Senate Hearings

It’s not uncommon for nominees to tiptoe around sensitive topics or tread carefully to avoid confrontation. However, Trump’s nominees are taking a different approach. They’re challenging assumptions and pushing back when necessary, rather than simply agreeing with directives handed down by Senators.

Pam Bondi, for example, illustrated this vividly in her hearing. When a Senator told her that she must say specific things, she didn’t flinch. Her response? “I don’t have to say anything. I’ll answer your questions, but I’m not obligated to say something because you tell me to.” This sharp retort speaks volumes about her character and her alignment with a more assertive philosophy.

This approach signals a broader shift. These nominees aren’t seeking approval by bending to pressure—they’re committed to standing their ground.

The “Trump Spirit”

What’s driving this defiance? It’s a mindset reflected in Trump’s leadership style. His administration has often been characterized by a refusal to conform to the usual political etiquette. These individuals—like Bondi, Rubio, and Hexat—seem to embrace this same unyielding energy. Senators and critics may expect politeness and submission, but instead, they’re encountering resistance paired with confidence.

This spirit can be polarizing. To supporters, it’s refreshing. To opponents, it appears confrontational. But make no mistake, this shift in attitude isn’t accidental. It’s strategic and deliberate, signaling an intent to move away from traditional norms of compliance in Washington.

Why Boldness Matters

Nominees who can confidently push back in hearings reflect strength—not just in their arguments but in their ability to remain calm under fire. In a political environment often dominated by intimidation tactics, it’s crucial to have individuals who stick to their principles, even when challenged.

This approach also helps clarify their stances in ways that feel less rehearsed. By refusing to simply say what’s expected, they give insight into their honest, uncompromised positions. This transparency, whether agreeable or not, provides the public with a genuine look at who these nominees are.

The Debate Over Confrontation

Critics might view this defiant posture as unbecoming in Senate hearings, suggesting it risks undermining the process of vetting candidates. But supporters argue the opposite. They believe this boldness is necessary to disrupt the status quo of scripted politicking.

The line between confidence and confrontation can be debated, but one thing is clear—these nominees aren’t concerned with tradition for tradition’s sake. Their focus is on reshaping expectations and holding steady when faced with opposition.

Conclusion

Trump’s nominees are showing what it means to refuse to back down. Their confidence challenges conventional norms in Senate hearings and reflects a broader shift toward unapologetic honesty. Whether you agree with their approach or not, one thing is certain—they’ve made it clear they’re not here to say what others want. They’re here to stand firm, no matter the pressure.

This unwavering attitude might frustrate critics, but among supporters, it inspires. It aligns directly with the no-nonsense, bold spirit that continues to define the Trump administration. These nominees—unshaken and resolute—are carving a new path forward. Will this mark the beginning of an enduring transformation in political discourse? Only time will tell.

Video Summary generated with the assistance of AI.

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L.A. County Land-Grab Fears Ignite: “They’re Going to Turn Altadena Into One Big Apartment Complex” https://economiccollapse.report/l-a-county-land-grab-fears-ignite-theyre-going-to-turn-altadena-into-one-big-apartment-complex/ https://economiccollapse.report/l-a-county-land-grab-fears-ignite-theyre-going-to-turn-altadena-into-one-big-apartment-complex/#respond Fri, 17 Jan 2025 12:47:34 +0000 https://economiccollapse.report/l-a-county-land-grab-fears-ignite-theyre-going-to-turn-altadena-into-one-big-apartment-complex/ (ZeroHedge)—Fears of a land grab have erupted across fire-ravaged areas of Los Angeles County, as local and state officials have already begun discussing plans for “LA 2.0.” One user on X commented, “Tell me this was a planned demolition without telling me this was a planned demolition.”

“They are going to turn Altadena into one gigantic apartment complex,” X user Bay Area State OF Mind said, referring to local officials who want to change zoning in the Altadena area from single-family to multi-family. In other words, some officials want to usher in the construction of apartment buildings and so-called ‘smart cities.’

Altadena (and other areas in L.A. County) could serve as a proof-of-concept for how the Democratic Party transforms single-family neighborhoods into apartment buildings in a world where citizens own nothing and will be happy.

The cause of the fire remains undetermined at this point. However, the rapid spread was caused by high wind gusts, and “Incompetence in the limit is indistinguishable from sabotage,” Elon Musk wrote on X.

The question of sabotage is a key topic on X, mainly because the main reservoir in the Palisades, which would’ve likely suppressed the fire in the early days, was completely drained.

On Monday, Palisades homeowners sued the city of Los Angeles’ electric and water utility for not supplying enough water to firefighters. The plaintiffs claim that a reservoir in the area was drained, causing low pressure in fire hydrants.

As of Thursday morning, the Palisades and Eaton Fires continue to rage, leaving dozens dead (and counting), ten-plus thousand structures destroyed, thousands of households displaced, and entire communities leveled. Meanwhile, Democrats are already pushing the conversation to rezone some areas to accommodate high-density, Communist-style apartment blocks.

As one X user noted, “Tell me this was a planned demolition without telling me this was a planned demolition.”

All right before the L.A. 2028 Olympics… Makes you wonder.

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California Fire Chief Saves Two Homes Using Milk and Beer After Finding No Water in Hose https://economiccollapse.report/california-fire-chief-uses-milk-and-beer-to-save-2-homes-in-last-ditch-effort-after-finding-no-water-in-hose/ https://economiccollapse.report/california-fire-chief-uses-milk-and-beer-to-save-2-homes-in-last-ditch-effort-after-finding-no-water-in-hose/#respond Fri, 17 Jan 2025 12:23:04 +0000 https://economiccollapse.report/california-fire-chief-uses-milk-and-beer-to-save-2-homes-in-last-ditch-effort-after-finding-no-water-in-hose/ In an extraordinary act of resourcefulness, a California fire chief saved two houses from destruction during the fierce Eaton Fire by using milk and beer as firefighting agents, after discovering the local water supply was unavailable.

Brian Fennessy, 65, and the Orange County Fire Authority Chief, found himself in Altadena, where his childhood memories coexist with the current devastation. With no water pressure in the fire hoses, he resorted to unconventional methods. “I thought I’ll check the refrigerator and all that was in there was some milk and a couple beers,” Fennessy recounted.

He used these beverages to cool down the melting gas meter of one of the homes, preventing a potential explosion. “I went back out and kind of ran back there and cooled it off and pulled it back a little bit. It wasn’t completely out, so I wasn’t sure if it was going to rekindle, but it was all I could do,” he added.

This heroic action preserved the only two homes left standing on an otherwise obliterated block. Fennessy’s actions underscore the unpredictable nature of the ongoing wildfires in Southern California, which have been exacerbated by dry conditions and strong winds.

According to the NY Post:

Wildfires continue to rage in and around LA since the Palisades Fire was first reported on Jan. 7.

Dangerous Santa Ana winds have worsened fire conditions in Southern California since Wednesday.

More than 40,000 acres have been burned, destroying over 12,300 structures and forcing thousands of people to evacuate.

The Palisades Fire, the most destructive of the blazes that annihilated the star-studded coastal community of Pacific Palisades last week, was 27% contained, while the Eaton Fire burning outside Pasadena, Calif., was 55% contained as of early Friday morning, according to Cal Fire.

The Eaton Fire, one of several devastating wildfires in the Los Angeles area, has consumed over 14,000 acres and led to significant loss of property. The use of milk and beer by Fennessy highlights not only the dire circumstances faced by firefighters but also their ingenuity in such crises.

Fennessy, who grew up in the now-transformed streets of Altadena, expressed a sobering view on the future of firefighting in urban environments.

“I think this is our new reality,” he said. “This house-to-house, these urban conflagrations, we’re going to start seeing them more and more.”

His actions have been widely shared across social media and news outlets, with posts on X (formerly Twitter) celebrating his quick thinking and bravery in the face of an overwhelming firestorm.

This incident adds a unique chapter to the ongoing narrative of California’s battle against wildfires, where traditional methods sometimes give way to improvisation in the fight to save lives and property.

Article generated from legacy media reports.

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Entry-Level California Home Costs up 88% From 2020, Fires to Spike Prices Further https://economiccollapse.report/entry-level-california-home-costs-up-88-from-2020-fires-to-spike-prices-further/ https://economiccollapse.report/entry-level-california-home-costs-up-88-from-2020-fires-to-spike-prices-further/#respond Fri, 17 Jan 2025 10:08:25 +0000 https://economiccollapse.report/entry-level-california-home-costs-up-88-from-2020-fires-to-spike-prices-further/ (Just The News)—The monthly payment to purchase an entry-level California home has risen 88% since 2020, according to a new report from the non-partisan, state-funded Legislative Analyst’s Office. With the ongoing wildfires having destroyed over 10,000 buildings in high-income areas, prices are primed to go up even further as wealthy families seek new shelter.

“Payments for a mid-tier home were nearly $5,800 a month in December 2024 – an 84% increase since January 2020. Payments for a bottom-tier home were over $3,500 per month – an 88% increase since January 2020,” wrote the LAO. “This rapid increase in monthly costs for homebuyers was driven by higher home prices and increasing mortgage rates.”

The LAO also notes that home prices dropped briefly early in the pandemic during 2020; rising prices spurred by low interest rates drive home payments to rise even as rates remained steady, with rate increases starting in 2022 making financing those higher purchase prices even more expensive.

The LAO says that this rapid increase in mortgage rates from 3% before 2022 to 7% now means that many homeowners can’t afford to move, even if they wanted to, thus putting further pressure on housing prices as fewer homeowners decide to sell.

“For example, if a homeowner with a mortgage rate of 5 percent sold their home and bought a new similarly-priced home at current interest rates, they would have monthly payments approximately 18 percent higher. For the typical homeowners, this amounts to over $300,000 more in payments over the life of a 30-year loan. As a result, many are choosing to stay put, significantly limiting the number of homes available for sale in the state’s tight housing market,” the LAO wrote.

“81 percent of California homeowners currently have mortgage rates below 5 percent, while new buyers face the much higher 7 percent rate,” the LAO wrote. “If a homeowner with a mortgage rate of 5 percent sold their home and bought a new similarly-priced home at current interest rates, they would have monthly payments approximately 18 percent higher. For the typical homeowners, this amounts to over $300,000 more in payments over the life of a 30-year loan.”

“As a result, many are choosing to stay put, significantly limiting the number of homes available for sale in the state’s tight housing market,” continued the LAO.

With over 12,000 buildings now destroyed by the ongoing fires – concentrated in wealthier areas such as the Pacific Palisades where the median home for sale before the fire cost $4.6 million – prices are already spiking as high-income families try to get temporary housing while their homes are rebuilt, or move somewhere new entirely.

The City of Los Angeles permitted just 8,706 new homes in 2024, down from 11,311 in 2023, and 15,295 in 2022, meaning the wildfires could decrease the city’s overall housing supply as building slows.

Hilgard Analytics’s 2024 report on residential permitting in Los Angeles blamed high interest rates and the city’s new transfer tax on all property over $5 million for the recent decline.

“Persistently high interest rates, coupled with negative externalities from Measure ULA, discouraged developers from taking on the financial risks of new projects,” wrote urban planner Joshua Baum in the report.

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The JD Rucker Show: LA Fire Land Grab, Mike Pence’s Owners, Buying Greenland, Inauguration, and More https://economiccollapse.report/the-jd-rucker-show-la-fire-land-grab-mike-pences-owners-buying-greenland-inauguration-and-more/ https://economiccollapse.report/the-jd-rucker-show-la-fire-land-grab-mike-pences-owners-buying-greenland-inauguration-and-more/#respond Fri, 17 Jan 2025 09:49:01 +0000 https://economiccollapse.report/the-jd-rucker-show-la-fire-land-grab-mike-pences-owners-buying-greenland-inauguration-and-more/ On today’s episode of The JD Rucker Show, we covered these topics:

  • Google Strikes Deal with AP to Enhance Gemini AI Chatbot with Real-Time News
  • Huntington Beach Is Pushing Back Against Sanctuary State of Commiefornia
  • National Security Agencies Warn Trump Inauguration Is ‘Attractive Potential Target’ for Threats
  • Nearly 400 Million Christians Persecuted Globally, Islamism and Communism Main Drivers
  • Who Controls Mike Pence
  • Will Hunter Biden Get a Big Insurance Payday for His Lost ‘Art’
  • Yes, Trump’s Bold Greenland Plan Could Actually Work

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Walgreens CEO Says Locking up Merchandise Harmed Sales https://economiccollapse.report/walgreens-ceo-says-locking-up-merchandise-harmed-sales/ https://economiccollapse.report/walgreens-ceo-says-locking-up-merchandise-harmed-sales/#respond Fri, 17 Jan 2025 09:42:45 +0000 https://economiccollapse.report/walgreens-ceo-says-locking-up-merchandise-harmed-sales/ Walgreens CEO Tim Wentworth told investors recently that locking up the store’s merchandise to deterred shoplifters has also harmed sales.

The company reported an operating loss of $245 million for the first quarter, compared to a $39 million loss the year before. The revenue loss has forced the company to close hundreds of stores by the end of the year.

Wentworth said the company was looking into creative ways to combat the rise in retail theft, which has contributed to the company’s decrease in revenue, but that locking things up has not been effective, per CBS News.

“When you lock things up … you don’t sell as many of them. We’ve kind of proven that pretty conclusively,” Wentworth said. “I don’t have anything magnificent to share with you today. It is a hand-to-hand combat battle still, unfortunately.”

Other companies have also resorted to locking things behind plastic or glass walls to limit shoplifters. But locking things up has derailed impatient paying customers who do not want to wait for an employee to unlock the display. […]

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Trump Plans Crypto Revival With New SEC Leadership https://economiccollapse.report/trump-plans-crypto-revival-with-new-sec-leadership/ https://economiccollapse.report/trump-plans-crypto-revival-with-new-sec-leadership/#respond Fri, 17 Jan 2025 09:34:49 +0000 https://economiccollapse.report/trump-plans-crypto-revival-with-new-sec-leadership/ (The National Pulse)—The U.S. Securities and Exchange Commission (SEC) will implement sweeping changes to its regulatory approach regarding cryptocurrency after President-elect Donald J. Trump is inaugurated next Monday. It is believed Republicans on the Commission will swiftly move to lay the groundwork for regulatory changes ahead of the confirmation of Paul Atkins, Trump’s nominee to serve as chairman of the SEC.

Atkins is slated to replace the current SEC chairman and cryptocurrency opponent, Gary Gensler, who announced his intention to step down once Trump is sworn in. Additionally, Commissioners Hester Peirce and Mark Uyeda, known for their pro-cryptocurrency stance, are anticipated to play key roles in reshaping SEC policies. Both have a history of working with Atkins at the SEC in the early 2000s and are expected to hold a majority among the politically appointed commissioners.

Transition discussions reportedly include guidance on what instances cryptocurrencies should be classified as securities. The approach under Gensler saw the SEC pursuing enforcement actions against at least 83 crypto-related initiatives, including lawsuits against companies like Kraken and Coinbase. The Commission maintained that many crypto tokens function as securities and should fall under SEC regulations.

After Trump’s inauguration, the agency is expected to re-evaluate ongoing court cases, possibly halting or withdrawing actions that don’t involve fraud. The legal and regulatory review would mark a significant policy shift, as some defendants have argued that cryptocurrencies should be treated as commodities rather than securities.

Further, Peirce and Uyeda are believed to be drafting new regulatory guidelines and will seek input from industry stakeholders and the general public. As the Trump administration prioritizes crypto policy, Trump is anticipated to issue related executive orders on his first day in office—possibly establishing a strategic Bitcoin reserve.

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Biden’s Education Department Announces $4.5 Billion in Student Loan Forgiveness for Over 200,000 Borrowers https://economiccollapse.report/education-department-forgives-4-5-billion-in-student-loans-for-over-200000-borrowers/ https://economiccollapse.report/education-department-forgives-4-5-billion-in-student-loans-for-over-200000-borrowers/#respond Thu, 16 Jan 2025 13:48:27 +0000 https://economiccollapse.report/education-department-forgives-4-5-billion-in-student-loans-for-over-200000-borrowers/ The U.S. Department of Education has announced the forgiveness of $4.5 billion in student loans for more than 200,000 borrowers, specifically targeting those who attended Ashford University. This move is part of the Biden administration’s broader effort to alleviate the burden of student debt for Americans.

The relief applies to students who were enrolled at Ashford University, now known as the University of Arizona Global Campus, from March 2009 to April 2020. The Education Department determined that Ashford had engaged in “widespread misrepresentations,” misleading students about the length of degree programs, financial aid costs, and the ease of obtaining necessary professional licenses.

This latest round of loan forgiveness underscores the administration’s commitment to addressing the student debt crisis, particularly for those who have been victims of fraudulent educational institutions. Since taking office, the Biden administration has forgiven over $183 billion in student loans for more than 5 million borrowers, navigating around legal challenges that have blocked broader student debt relief plans.

The decision to forgive these loans was shared in a press release by the Department of Education, which emphasized that this relief is directed towards borrowers defrauded by their schools. The announcement follows shortly after another initiative where federal workers, individuals with permanent disabilities, and others who were misled by their universities received loan forgiveness.

However, this move has not been without its critics. Some argue that such targeted debt relief could set a precedent for more widespread cancellations, potentially straining federal finances further. Others see it as a necessary step to correct past wrongs by for-profit institutions that have often left students with unmanageable debt and without the promised career outcomes.

The action by the Education Department also comes as the department has been working on various fronts to reform the student loan system, including the introduction of the Saving on a Valuable Education (SAVE) plan, aimed at making repayments more manageable for borrowers.

As the administration continues to refine its approach to student loan forgiveness, this specific relief for Ashford University students highlights the ongoing struggle to balance educational accountability with economic relief for borrowers, sparking discussions on the future of higher education funding and regulation in the U.S.

According to Just The News:

The Department of Education (DOE) on Wednesday announced the forgiveness of another $4.5 billion in student loans for over 200,000 borrowers at Ashford University, in one of the department’s final moves of the Biden administration.

President Joe Biden and his administration have attempted to clear out a massive amount of student loan debt for Americans who are still paying off their loans after 20 years, though some efforts have been curbed by the courts. However, they have successfully forgiven loans for over 5 million borrowers over the past four years.

The department said in a press release that the latest round of cancellations goes to over 261,000 students, who were enrolled in the largely online school of Ashford University from March 2009 to April 2020.

The department determined that the school made “widespread misrepresentations” about its programs, including how long it would take to complete a degree, costs of financial aid, and the ability to obtain necessary licenses.

“Numerous federal and state investigations have documented the deceptive recruiting tactics frequently used by Ashford University,” U.S. Under Secretary of Education James Kvaal said in a statement. “In reality, 90 percent of Ashford students never graduated, and the few who did were often left with large debts and low incomes.”

Article generated from corporate media reports.

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LA Landlords Hike Rent as Much as 124% as Fires Force Thousands to Flee https://economiccollapse.report/la-landlords-hike-rent-as-much-as-124-as-fires-force-thousands-to-flee/ https://economiccollapse.report/la-landlords-hike-rent-as-much-as-124-as-fires-force-thousands-to-flee/#respond Thu, 16 Jan 2025 12:46:38 +0000 https://economiccollapse.report/la-landlords-hike-rent-as-much-as-124-as-fires-force-thousands-to-flee/ Landlords in fire-stricken Los Angeles are jacking rents in violation of California law as thousands of residents seek shelter due to multiple fires burning in the area.

A search of local listings by several outlets reveal several landlords who have raised prices by as much as 124%, flouting a state law that prohibits rent hikes in excess of 10% after a state of emergency has been declared.

California’s state of emergency, declared by Gov. Gavin Newsom on Tuesday, bans price gouging for a range of goods and services, including rental housing. That means any rent increase above 10 percent since the start of the state of emergency is illegal for the duration of the crisis.

But since Tuesday, some landlords and their agents have raised prices by more than what California law allows. These price increases come as hundreds, if not thousands, of displaced Los Angeles residents search for interim housing while they figure out their next steps, worsening an already tight rental housing market in the region. -NY Times

One five-bedroom rental in Santa Monica which listed for $12,500 in February 2024 was going for $28,000 per month, an increase of 124%, before it was pulled from the market on Sunday according to Inside Edition‘s Lisa Guerrero.

Approximately 12,000 structures from Malibu to Pacific Palisades to Altadena have been destroyed in the ongoing fires.

LA real estate agent Samira Tapia told the NY Times that her review of more than 400 listings revealed nearly 100 properties which had rents raised beyond the 10% threshold – with one in North Hollywood jumping overnight from by $800, to $5,700 per month.

Another LA realtor, Laura Kate Jones, says she’s found rents for several properties in West LA which have spiked between 15% and 20% overnight, with one listing agent raising the rent by $3,000 mid-tour, she said.

According to this property’s history, it was listed at $12,000 last year. Yesterday it was listed at $28,000. Price gouging? What’s up Trulia?? www.trulia.com/home/1812-na…

Lisa Guerrero (@lisaguerrero.bsky.social) 2025-01-11T23:32:13.519Z

“People are so panicked and desperate to get into a house right now that they’re just throwing money into the wind,” she told the NY Times. “People taking advantage of this. It’s horrendous.”

Chelsea Kirk, director of policy and advocacy at Strategic Actions for a Just Economy, compiled a crowdsourced spreadsheet that includes addresses, Zillow links, dates of rent increases and exact pre- and post-hike prices.

Among the listings that stands out is a 9,615-square-foot Tudor mansion in Bel Air. The home was listed at $29,500 per months in December. But last week the listing reappeared with a new price — $39,000 per month. NY Post

And according to Yahoo News, one small property – just 1,200 sqft. located in Woodland Hills which listed for $3,900 in November is now priced at $5,900.

California AG Rob Bonta has vowed to investigate violations and impose penalties on scumbag landlords, including fines up to $10,000 and/or imprisonment.

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Depopulationists, Detransitioners, Quantum Computing, Democrats Hating Women, and More https://economiccollapse.report/depopulationists-detransitioners-quantum-computing-democrats-hating-women-and-more/ https://economiccollapse.report/depopulationists-detransitioners-quantum-computing-democrats-hating-women-and-more/#respond Thu, 16 Jan 2025 06:57:07 +0000 https://economiccollapse.report/depopulationists-detransitioners-quantum-computing-democrats-hating-women-and-more/ On today’s episode of The JD Rucker Show, we covered these topics:

  • America Faces Huge Population Crisis as Deaths Will Outpace Births in 8 Years
  • French Woman Who Left Her Husband Scammed Out of More Than $850,000 by AI Brad Pitt
  • Nearly Every House Democrat Votes Against Bill to Protect Women’s Sports
  • JD Vance Reiterates Trump Will Pardon Peaceful January 6 Prisoners, Not Violent Offenders
  • AI, AGI, and Quantum Computing Pose Real Threats
  • Over 100 Detransitioners, Advocates Back RFK Jr. For HHS

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