The Schaftlein Report | Jeffrey Dunetz & Mark Schaftlein
Biden's student loan hand out
Is the Red Wave becoming a ripple?
Is there there food crisis coming?
The US Returning To The Iran Deal, Good Or Bad?
Trump calls for McConnell to be ousted as GOP leader ‘immediately’--
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The Schaftlein Report | Andrew Crapuchettes & Mark Schaftlein
Recent News:
Dr. Fauci announces that he will be resigning in December, according to CNBC.
“The 81-year-old has advised seven U.S. presidents, starting with Ronald Reagan through the HIV/AIDS epidemic, West Nile virus, the 2001 anthrax attacks, pandemic influenza, various bird influenza threats, Ebola, Zika and, most recently, Covid and monkeypox.”
The CDC also announced that they will be relaxing their guidelines.
All of this just in time for midterms.
According to Fox Business, half of US companies surveyed are preparing to cut jobs.
“That's according to a new survey published on Thursday by consultant PwC, which last month polled more than 700 U.S. executives and board members from various industries. About half of respondents said they are preparing to reduce headcount — or already have — while 52% have implemented hiring freezes.”
But the WSJ wrote a this morning saying that people are still able to find jobs in record time. “But one characteristic of today’s economy is that job cuts at small startups and large companies have yet to dent the overall labor market. Labor demand is still historically strong, offering only faint signs of cooling. There are nearly two job openings for every unemployed person seeking work.”
There is still hope in this bleak economy for workers who are looking for pro-American businesses.
Gas Prices, Economy, and Crime continues to dominate midterm issues according to a recent poll, despite what main stream media wants you to believe.
According to Rasmussen: “Ninety-two percent are concerned about rising gas prices, while 68 percent are very concerned. Ninety-one percent are concerned about President Joe Biden’s economic recession. Sixty-six are very concerned. And 86 percent are concerned about violent crime. Sixty-one percent are very concerned.”
Beverly Hills department store bans masks due to rising crime rates.
“Fraser Ross, owner of the Kitson department store located in Beverly Hills, posted signs last Wednesday to inform shoppers that they would not be allowed to wear a mask in the store because of recent spikes in crime.”
Americans don’t care about liberal punditry and policies, they care about what is impacting them at home.
A new report finds that woke policies during the pandemic crushed downtown small businesses and economic activity in a number of blue cities, and these areas have yet to recover.
How the data was gathered:
“Our analysis incorporated data for 27 months from March 2020 to May 2022 for 62 cities of at least 350,000 people across the US and Canada. We then calculated a Recovery Quotient (RQ) for both downtowns and entire cities by comparing the total normalized device counts from the most recent 3 months of data compared to the first 3 months of data.”
Key Findings:
San Francisco’s downtown economic activity remains 69% below pre-pandemic levels, Portland’s is still down 59%, Detroit’s is down 58%, and Chicago is down 43%.
For medium sized cities: Cleveland is still down 64%, Minneapolis is still down 56%, and Oakland 54%.
Redfin released a new report that shows a record amount of homebuyers are actively preparing to relocate to conservative states. The top three cities, Miami, Tampa, and Phoenix, are netting the highest inflow of users. The top out-of-state origin for user searches was from either New York or Los Angeles.
According to CNBC’s Top States for Business 2022 Ranking, 9 of the top 10 states for ‘Business Friendliness’ have Republican Governors.
Washington D.C. is trying to incentivize people to move and buy homes in their city by offering 200k in loans to residents.
“Prospective homebuyers in Washington, D.C., can now receive more than $200,000 to help with their mortgage down payments, marking the latest effort by the city government to incentivize district residents
Americans are moving because of their freedoms are being infringed upon by woke liberal policies.
An RAF Chief Recruiter was allegedly instructed by her superiors to discriminate against white men in the hiring process. She quit in response to this.
The head of recruitment within Britain’s RAF is said to have been ordered by the “air force’s senior management to actively discriminate against white men in service of their woke agenda, a report published on Sunday alleges.”
Beverly Hills department store bans masks due to rising crime rates.
“Fraser Ross, owner of the Kitson department store located in Beverly Hills, posted signs last Wednesday to inform shoppers that they would not be allowed to wear a mask in the store because of recent spikes in crime.”
Washington D.C. is trying to incentivize people to move and buy homes in their city by offering 200k in loans to residents.
“Prospective homebuyers in Washington, D.C., can now receive more than $200,000 to help with their mortgage down payments, marking the latest effort by the city government to incentivize district residents to purchase homes.”
Developments at RedBalloon:
Expanding into Canada
Fighting wokeness in HR
Offering free job postings
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The Schaftlein Report | Jeffrey Dunezt & Joe Visconti
Guests : Jeffrey Dunezt & Joe Visconti
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The Schaftlein Report | Cheney defeated, Murkowski advances
Guest - Richard Battle
1) Harriett Hagerman defeats Liz Cheney 64-32% in Wyoming Republican Primary
2) Sen. Lisa Murkowski (43%) and Kelly Tshibaka (40%) advance in Alaska Senate contest
3) Sarah Palin among 3 top candidates vying for House seat in Alaska
4) Merrick Garland approval rating at 36% after Raid
4A) Sen. Grassley wants answers on Clinton "kid gloves" treatment after Trump raid
4B) Independent voters are not buying an Impartial Justice Department
5) Border Crisis - 199K entered illegally in July. 44K more Got Away.
2000 pounds of fentanyl seized which could make 469M doses.
13K pounds of meth seized.
5A) Operation Lone Star leads to 18K criminal arrests including 15K felons
5B) NYC is housing illegal immigrants in upscale hotels after receiving busloads from Texas
6) United Kingdom sees highest Inflation in 40 years at 10.1% while mortgage demand in the U.S., hits a 22 year low
7) China conserves electricity by shutting down factories as a heat wave slows the economy to 0.4% growth for quarter ending 6-30.
Zero Covid also a contributing factor.
8) Representative Val Demings leads Senator Marco Rubio by 4 in Florida? Internal polling does not reflect this but the race will be very tight.
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The Schaftlein Report | Unseal the Affidavit
Guest - Bill Federer Author and Historian
Socialism - The Real History from Plato to the Present
1) Trump demands Affidavit be unsealed. Trump lawyer says Department of Justice opposes Independent Review of seized records.
DOJ says No to unsealing affidavit.
1A) 3 Trump passports seized and returned
2) Inflation Enhancement Act provides up to a $7,500 credit for certain groups to by an EV. The average price is now $66K.
Ford just raised prices by $8,000.
2A) Congressional Budget Office confirms people earning less than $200K WILL pay an extra $20B in taxes from the Inflation Enhancement Act.
2B) Biden to sign Inflation Enhancement Act today adding 87K IRS Agents - Did Biden represent this to you when he campaigned for President
3) Demand for oil and gas is back to Pre - pandemic levels while builders are slowing construction of new homes rapidly.
4) On the Culture War Front we have the following observations:
A. A North Dakota School Board has voted to remove the words "Under God" in the Pledge of Allegiance
B. A Minneapolis Teachers Union Agreement stipulates that White teachers will be laid off first regardless of seniority.
C. A left wing publication Atlantic Magazine claims the Catholic Rosary is an "Extremist symbol"
D. In a confusing statement, the CDC says people exposed to Covid - 19 no longer have to isolate? That's not what we have been told for 2 years.
E. San Franciso reverses course and agrees to REFUND the police by $120M after DeFunding it by that amount last year.
Predictably, crime soared.
5) Primary day in Alaska and Wyoming today
6) Ukraine bombs ammunition depot in Crimea multiple explosions
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The Schaftlein Report | Raid on Mar A Lago Dominating the News
1) Everyone wants to know why it happened.
1A) Wild media speculation - Top Secret Information, Nuclear information, Charges
1B) Voter enthusiasm super high after raid on Republican side. Voters shocked by Raid.
1C) DOJ and FBI are political arms of the Democratic Party and act as Enforcers.
1D) Trump - "We need to bring down the temperature"
1E) 14 Whistleblowers have come forward to testify according to Jim Jordan
2) Trump has a wide lead among Primary voters and he is ahead of Biden in the General by 3-5 points
3) Arizona is building their own border wall as things have gotten out of hand
4) Florida bans Medicaid from covering Gender Affirming treatments - Great!
5) Congressional Delegation goes to Taiwan and China ramps up military drills.
6) U.S. missiles have been critical in aiding Ukraine
7) Because of Inflation, Social Security benefits may increase close to 10% further exploding the budget deficit.
The average American is paying an extra $717 per month
8) Abbott leads O'Rourke by 7 -10 points in Texas
9) Alaska Primary is Tuesday with Murkowski and Palin on the ballot.
10) Wyoming is D-day for Liz Cheney against Harriet Hagerman
11) Afghanistan debacle is one year ago and the country is a disaster
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The Schaftlein Report | Inflation Remains Elevated Despite Gasoline Falling
Guest - Jeffrey Dunetz
1) Biden claims zero inflation which is not true. The inflation rate is running at 8.5%. The increase came in flat but that
is little comfort to most Americans. Falling gas prices did help.
1A) The Producer Price Index was up 9.8% in July compared to July 2021, however it fell 0.5% from June.
Falling gas prices were the main reason. Gas is now averaging $3.99 per gallon down from $5.01 55 days ago.
1C) The Strategic Petroleum Reserve which was at 638M barrels when Biden took office will be down to $384M barrels by 9-30.
A 40% reduction. Capacity is 714M barrels.
1D) Jobless claims rise to 262K, highest in 8 months. We still have over 9.5M job openings in the country.
2) Federal government collected 4.1T in taxes during the first 10 months of the fiscal year. The government spent $4.8T leaving a deficit of $700B.
Department of Health and Human Services spent $1.33T
Social Security spent $1.06T
Defense spent $590B
3) Republicans continue to demand answers from FBI Director Wray on the Trump raid. He remains silent.
A judge has ordered the DOJ to respond to a request to unseal the Trump raid warrant.
3A) 77% of Republicans and 56% of Independents believe the Trump Raid was politically motivated.
4) Russian death toll of senior officers reaches 100 with over 10 Generals killed. They have suffered between 60K to 70K casualties of dead or wounded.
5) Plot uncovered to kill John Bolton and Mike Pompeo by Iranian.
6) Barnes versus Johnson in Wisconsin Senate race. Barnes is a radical leftist.
7) Fetterman versus Oz in Pennsylvania Senate race. Fetterman is a radical leftists. Get the pattern here.
8) I predict Bernie Sanders will run in 2024. Senator Joe Manchin approval rating declines 30 points after Inflation bill support.
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The Schaftlein Report | Democrats Pass Tax and Spending bill on Party line vote
1) Senate Parliamentarian gave the OK for Democrats Tax. Climate and Drug bill to proceed.
After Amendments failed, the bill passed the Senate 50/50 along party line votes and Harris broke the tie.
"Biden got credit for nothing" - Jonathan Karl ABC News.
$450B in spending with Inflation running hot.
Obamacare subsidies through 2024.
86K new IRS agents
15% corporate tax and an excise tax on gas
Electric cars, fossil fuels and renewable energy are the big winners
2) 528K jobs created in July. The unemployment rate fell to 3.5%. Why do 70%of Americans believe the Economy is going to get worse?
3) Republicans chose Milwaukee as the site for their 2024 Convention.
4) Trump won CPAC straw poll by 69-24 over DeSantis.
4A) With no Trump in the race DeSantis gets 65%, Don Jr. 8%, Cruz 6% and Pompeo 5% .
5) Joe Kent has rallied to trail by only 257 votes with 89% of the votes cast in Washington 8 seat.
6) Gov Greg Abbott continues sending migrants to NYC and DC.
7) Crime has gotten so bad in NYC that 10 criminals have been arrested 500 times due to bail reform. What bail?
Businesses are moving away from high crime blue cities with Soros back District Attorneys
8) Rasmussen has Biden at 45% approval. The Real Clear Politics average is 39.6%
8A) The Generic ballot has Republicans +3%. The RCP average is 0.1%.
9) Gov. Abbott of Texas continues with busing illegal immigrants to NYC which is a sanctuary city and residents are not happy
10) Consumer confidence in the housing market hits a 10 year low and Inflation expectations are 6.2% for the next year
then 3.2% for the following 3 years.
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The Schaftlein Report | ECON 101- If you want more of something (OIL), tax it less
1) Do not raise taxes to if you want more supply. Increasing supply will help reduce prices. Democrats are moving in the opposite direction.
1A) Inflation Reduction Act - Sen. Sinema holds the cards.
Dave details the problems with the bill.
1B) This follows the CHIPS Act which passed the senate with the goal of bringing chip manufacturing back to the U.S.
2) Oil drops as weak Chinese factory data heightens demand concerns and property slumps.
Gasoline prices drop for the last 45 days
2A) 2 Year Notes are prices 30 basis points higher than 10 year notes 3.00% - 2.7%. Is this an indicator of a future recession? Or a current recession?
3) Home prices cooled at a record pace in June as demand falls and supply builds. This is the biggest drop since the 2007-2009 period.
It would take 6 more months of drops to bring the market back to normal conditions
Rising interest rates currently around 5% and Inflation are leading the slide
The Median price is now $416K
4) Americans wages are not keeping up with Inflation costing the average family an extra $460 per month.
76% of Americans are concerned about Inflation and 60% are worried about making rent and mortgage payments.
35% of Americans rent instead of own and the average rent is now $2,000 per month.
72% have not saved enough for retirement
5) How did Government student debt projections go from a profit of $114B to a projected loss of $197B?
Easy answer - If the policy is to defer payments way too long and not accrue interest, you have a blow up.
If Biden forgives $10K per student, it will cost the government $321B.
The total student debt now stands at a whopping $1.7T an average of $30K per borrower.
6) Job openings fell to 10.7M in July from 11.1M in June
7) Federal Reserve to raise Balance Sheet run off to $95B in September. The Balance sheet is currently at $9T.
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The Schaftlein Report | Flooding in Kentucky leaves 26 dead and many missing
1) Terrible pictures emerge from Eastern Kentucky flood area.
2) Personal Consumption Expenditures a primary Federal Reserve Inflation gage rose 6.8% last month.
It was the biggest 12 month rise since 1982.
2A) Excluding Food and Energy, the PCE increased 4.8% up .1% from May but off the high of 5.3% hit in February.
2B) Production constraints will keep oil prices high for the foreseeable future.
2C) Inflation is a much bigger concern for the Fed versus Recession
3) Senator Sinema has not responded yet to the Manchin-Schumer bill. She previously was against taxing carried interest. Reports indicate she does
not want that in the bill and she wants to give Republicans time for Amendments.
The Chamber of Commerce and numerous other organizations speak out AGAINST the bill.
Inflation Reduction Act - The name is a joke, no they are serious.
4) Gallup Poll has Biden at 38% an All time low down from 41% one month ago.
4A) Rasmussen poll provides better news with Biden at 42%.
4B) The Generic Ballot has Republicans up by 1%
5) The Misery Index which combines Inflation and Unemployment is forecasting a 30-40 seat House Pick up by Republicans.
We are more cautious in the range of 15-20.
5A) 45% of Americans blame Biden for Inflation
6) Both Biden and Trump are at 35% Approval on whether they should run in 2024.
7) A veteran Chicago prosecutor resigned citing zero confidence in District Attorney Kim Fox while number of arrests in the city are at a 20 year low,
despite the rise in crime. 48 shot over the weekend through Saturday.
8) Biden has a rebound of Covid with no symptoms. Will isolate for 5 days.
9) Pelosi trip to include Taiwan visit on Tuesday.
10) Primaries in Arizona, Missouri, Washington and Michigan tomorrow.
11) Basketball legend Bill Russell dies at 88.
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Scgaftlein Report | Economy contracts 0.9% in 2nd Quarter - Guest - Jeffrey Dunetz
1) Following (1.5%) in 1st Quarter, the debate is on. Is the USA in or approaching a Recession?
1A) Fed hikes rates 75 basis points. Another 100 basis point increases is expected by year end in effort to tame Inflation
2) The Federal Reserve has a $9T balance sheet. It has only been reduced by $16B since June.
2A) the 2 year not is yielding 20 basis points above the 10 year note signaling a slow down ahead and possible recession.
3) Sen. Manchin and Schumer reach agreement on slimmed down energy, climate,prescription drug and tax hike deal.
Investments in energy, manufacturing with goal to reduce carbon emissions 40% by 2030, expand subsidies for the Affordable Care Act,
Reform environmental Permitting to speed up domestic energy production, 15% minimum corporate tax and cut the deficit by $30B a year for 10 years.
EV tax credits included in deal.
3A) What will Sen Sinema do. She has opposed tax increases on carried interest in the past
3B) Generate $739B in Revenue and spend $433B over 10 years.
4) Senate passes CHIPS bill to enhance domestic semiconductor chips. 17 Republicans join Democrats.
5) Warnock leads Walkler by 3 and Kemp leads Abrams by 5 in Georgia polls.
6) While liberals scream about climate, Asia and Africa are building over 200 coal fired power plants.
Why not focus on Methane which is 50x worse that CO2?
7) Biden offers prisoner swap of arms dealer for basketball player Griner and businessman Whelan.
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Schaftlein Report | Job Seekers and Home Buyers are fleeing Blue states for Red states
Guest - Andrew Crapuchettes
1) Andrew details the massive shift and explains the factors causing the move.
Democratic policies are a leading cause.
2) Pending home sales fall across all regions of the country an average of 13% as buyers back away.
3) Federal Reserve officials say they misread Inflation and now plan to correct course with 75 basis point raise today
on top of previous raises of 25, 50 and 75 basis points. This will bring the Federal Funds Rate to a range of 2.25% to 2.5%.
This is still WELL below the Inflation rate
4) Q-2 GDP forecast ranges from -1.0% to positive 1.2%
5) White House sells another 20M barrels of oil from the Strategic Petroleum Reserve.
5A) Sanctions on Russian economy are having only a limited effect as while they are in a recession, it is not a bad as expected due to continued
high oil and gas prices
6) Economist Nuriel Roubini aka Dr. Doom says a "mild recession" is a fantasy.
7) In politics, only 20% of New Hampshire voters want Biden to run in 2024. 75% nationwide oppose him running according to a CNN poll.
NY Times says "Failing Biden" must not run in 2024.
8) Why are Democratic Senate candidates REFUSING to say a man cannot get pregnant? This is pure Insanity pandering to a radical base
9) ICE is developing a program to give ID cards to Illegal immigrants. More bad policies.
Massive amount of drugs confiscated at border.
10) Attorney General Merrick Garland not ruling out charging Trump if evidence supports he violated the law in Lester Holt interview.
11) A car and truck pursuit on California Freeway ends in predictable manor AGAIN. We'll tell you what happened.
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The Schaftlein Report | Are We in a Recession?
Guest - Drew Allen
1) President Biden - "We are not going into a Recession". Is he correct?
2) Walmart cuts forward guidance - blames inflation effecting its consumers. We have been discussing this for months.
3) Consumer Confidence falls to lowest level since 2-21. Fed poised to hike rates 75 basis points
4) The Average cost of a new car from GM is $50,500. WOW!
5) Oil and Gasoline prices likely to stay high as Refiners face increasing costs for Insurance, maintenance, heating cost to tun the facilities,
physical hazards and debt. No new refiners are being build and the last one was over 2 decades ago.
6) 9.3 months supply of new homes are on the market and the normal is 4.5 months.
Sales of new homes were down 8.1% last month.
Existing home sales fell for the second month in a row.
7) Gas Rationing has been approved by the European Union as Russian supplies are at 20% of capacity.
8) Migrant smuggling is a billion dollar business.
55K migrants escape capture each month. The "Gotaways" are spreading all through out the U.S.
9) Robberies in NYC are up 40%. No bail fees and the NY District Attorney reclassifying crimes where criminals feel emboldened.
10) Trump in D.C. for first time since he left office for a Keynote address to America First Policy Institute
11) Will we ever know the truth about Hunter Biden?
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The Schaftlein Report | Media pushes leftists energy policies that Harm Middle Income Americans
1) NY Times blames Sen. Manchin for Climate Failure while seeking "Radical Transformation".
All of the Global Warming fear mongering on Sunday shows with Former VP Al Gore.
The problem - They want the U.S. to halt drilling and reduce carbon footprint while China, India and Russia continue to produce oil and other carbon fuels.
Americans do NOT want higher gas prices while drilling less.
Democrats want Executive Action which Biden has done on a limited basis and they push electing more Democrats - No surprise.
2) Treasury Secretary Yellin - We have a path to avoid a Recession
Summers suggests raising taxes to reduce demand and lower inflation.
3) Crime is a MAJOR issue. Biden pushes $33B to Refund the Police. We agree
60 shot in Chicago this weekend killing 3.
3A) Democratic mayors beg for Federal help as migrants arrive in Sanctuary cities from the border.
4) 64% of Democrats do not want Biden to run in 2024. Only 19% of Hispanics support Biden
5) Trump 49% and Gov. DeSantis at 24% in Turning Point straw poll. We'll explain the results.
6) Generic Congressional Ballot average Republicans +3%
Trafalger +8%
Rasmussen +10%
Emerson +1%
7) Russian forces running out of steam?
Ukrainian forces outgunned in effort to retake Southern Ukraine?
Which is true? 82 Colonels now killed. 60K dead or wounded
8) Russia reduces gas to Europe to 20% of capacity from 40% last week blaming turbine repairs.
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Biden has Covid and his Approval Hits All Time Low at 31%
1) A fully vaccinated and double boosted Biden gets Covid. Has mild symptoms.
2) Quinnipiac University polls finds Biden at 31%. Only 40 % of Democrats want him to run in 2024.
He is upside down on the economy 28-66%. RCP average is 36.8%.
3) Politico Morning Consult Poll saws 72% of Democrats want Biden to run. This number looks high,
Averaging the two and he comes in at 56% prefer he not run.
4) Some high ranking Democratic party officials now saying he will be too old to run.
5) In climate speech yesterday, Biden said he has cancer. Huh? White House scrambles to clean up.
6) Bloomberg editorial calls for $5 minimum price of gas as a way to combat climate. Are you serious.
Even the Biden Administration will not go there.
7) Germany is a complete mess as a result of their own Green New Deal. Russia has opened up the flow of gas but only
at 40%. Gas is $7.50 per gallon and rationing is coming. Leaders have very limited choices.
Recession is looming.
8) Since Washington state implemented some DeFund the Police initiatives, when people steal cars, officers will no longer
pursue in high speed chases which is bared by state law. That;s too bad. Car theft pursuits in CA it makes the nightly news about twice a month.
9) Dave Chappelle concert cancelled after WOKE outcry on social media in Minneapolis. What is wring with these people?
10) Many border residents and local officials are very happy illegals are being transported to NYC and DC.
11) Jobless claims rise to 251K, highest since November but still very low. Why can't they get a job. We have 11M openings?
12) Ukraine launches counter offensive and Mario Draghi resigns s Italian Premier and head of state. No confidence vote.
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CNN Poll 68% believe Biden has the Wrong Priorities.
1) Americans overwhelmingly want the administration to focus on Inflation.
2) White House - No Climate Emergency Declaration, yet but Biden will do Executive Orders on climate?
Germany forces businesses to close down as energy is rationed due to Russian gas shortage. Hospitals, schools and food producers are prioritized.
Energy prices could triple this year when it gets cold.
EU proposes voluntary 15% Natural Gas Cut as Putin threatens to cut off gas flows.
3) 17 Democratic members of congress arrested during abortion protest at Supreme Court. AOC mocked for fake handcuff.
4) House passes Marriage Equality bill with all Democrats and 50 Republicans which would repeal Defense of Marriage Act in 1996 that
defined marriage as a union of a man and a woman.
5) Why are leftists angry over the 22 year old that stopped a mass casualty event?
6) Build Back Better reduced from $3.5T monstrosity to a $40B Prescription Drug Bill. My, my how times have changed.
Thank you Senator Manchin!!!
7)No spending on Climate and raising taxes.
Thank you Senator Manchin!!!
8) NYC being over run with asylum seeking migrants with an additional 3,000 arriving on buses from Texas and Arizona.
Mayor pleads for help
9) McConnell predicts a crowded field of Republicans running for President
10) Soros donates $1.0M to O'Rourke for TX Governor race. A preview of coming attractions.
11) Massive heat wave in U.S. Drought in CA central valley threatens food supply. 25% comes from there.
12) DeSantis leads Trump in Florida and Michigan polls. Slams Biden for wrong thinking energy policies
12) Japan replaces China as largest holder of U.S. debt with $1.2T versus $1.0T
13) After Biden praises GM for the EV efforts, GM decides to manufacture some cars in Mexico? Huh?
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The Schaftlein Report | Radical Leftists in the House CRAZY Proposals
Guest - Joe Visconti
1) Democrats on the House Judiciary Committee Vote unanimously down a plan to toughen sentences for child sex trafficking
2) A group of radical House Democrats propose adding 4 Supreme Court Justices. Don't worry, most Democrats oppose the idea
3) Senator Joe Manchin crushes the Global Minimum Taxation Rate proposed by Democrats
4) Democrats Open Border Policy forces Texas and Arizona Governors to bus Illegals to Washington D.C.
Mayor pleads for help.
5) Radical Climate Democrats push crazy Climate Fantasy fueled by Greeniacs promoting Green New Deal.Americans overwhelmingly oppose this.
6) Democrats push the Liberal World Order hoping for $10 a gallon for gasoline.
7) Liberal policies on Crime cause arrests in only 12% of cases in Chicago. Fewer crimes are reported. Police forced to pull back for fear of prosecution
has lead to massive crime wave here and in other deep blue cities. Sacramento homeless greater than S.F up 67% to over 5,000 people, robbery up 42%, rape 50%.
8) We are at the one year anniversary where Biden said Inflation is "Temporary"
9) DeSantis war chest at $45M
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The Schaftlein Report | Sen. Manchin says no to Tax Increase and Climate Bill
1) Sen. Joe Manchin will only support a Prescription Drug Deal and Assistance on Health Care Premiums.
Says "no" to tax increases and climate bill effectively crushing the Biden Agenda for now.
Progressives liberals are furious.
Sen. Bernie Sanders blasts Manchin (Chairman of the Energy Committee) calling it sabotage.
Claims Climate Change is a threat to humanity
2) Biden meets with Saudi's and MBS - They get photo op and U.S. is unclear what we got?
No apparent increase in oil production.
3) Biden job approval at 33%
4) 20% of Americans have applied for Federal and State Food Assistance or went to food banks.
This illustrates the damaging effects of Biden's increase in inflation and food costs.
5) Border Crossings set a record in June 2022 compared to June 2021 as 192K cross bringing the 2022 Fiscal year total to 1.7M.
It is out of control and open. Americans do not favor open borders.
6) Liz Cheney is down 20 points to her Wyoming Primary opponent Harriet Hagerman.
7) NASCAR star Bobby East murdered by a tattooed face homeless criminal in Westminster, a city here in Orange County CA.
He was filling up his car at a gas station in the middle of the afternoon.
8) 57% of Democrats say the Constitution is racist and sexist, however 89% of Republicans, 80% of Independents and 74% of Democrats have a favorable opinion of it.
49% of Democrats want it rewritten while 77% of Republicans, 63% of Independents 47% of Democrats say no to that idea.
9)Trump to deal with a changing electorate in 2024 according to Dick Morris in his new book "The Return - Trumps Big 2024 Comeback"
50% more people voted in 2020 than 2000 while population grew by only 30%.
10) Cameron Smith wins the British Open Championship at St. Andrews!
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The Schaftlein Report - Producer Price Index Jumps 11.3% in July
Guest - Jeffrey Dunetz
1) Wholesale PPI increase of 11.3% is WAY too high and will bleed into an already accelerating Inflation with rising input costs.
2) Biden says June Inflation "Unacceptably high", but out of date. Is it possible it peaked - MAYBE?
The risk is wage price spiral.
3) Excluding Food and Energy, the Core CPI was at 5.9%. Former Treasury Secretary Larry Summers characterized it as "Way too high and out of control"
Summers warned of this a year ago.
4) Sen. Manchin throws cold water on a scaled back Build Back Better as Inflation is too much a risk for additional spending.
The problem is the Biden administration and Democrats philosophically want to spend more on climate and other initiatives because that is their core belief.
They care more about climate and social issues than inflation. They is the ultra leftist liberal administration policy staffers. The public is NOT with them.
5) Biden trip to Israel - Jeffrey provides a history and contradiction of the difference how Trump and Biden have approached the Middle East and
the ramifications of policy changes. The success of the Abraham Accords and the relationship with Iran and Saudia Arabia.
Biden says "We will not allow Iran to acquire a nuclear weapon". Also claims he supports Abraham Accords.
6) Trump strategy on when to announce his 2024 candidacy is hotly debated in Trump world and in Republican circles. Pros/Cons
7) Senator Marco Rubio leads Val Demings by 5-8% in Florida Senate race
Warnock leads Walker 50-57%. Kemp leads Abrams 52-48%
8) Biden falls to 36% in CNBC polls. The lowest ever. Trumps lowest was 37%.
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Schaftlein Report | June Consumer Price Index increases 9.1% year over year
Guest - Dr. Michael Busler
Finance Professor Stockton University
Headline -
1) Dr. Busler gives his insight on how we got here. Have we reached peak Inflation as commodity prices have fallen significantly?
1A) Consumers expect Inflation of 6.8% one year from now and 3.6% in three years.
2) We have an Inverted Yield Curve with a 2 year / 10 year spread at - .177 basis points with the 2 year note at 3.122 and the 10 year Note at 2.945.
the spread doubled today from .085 yesterday. We'll discuss the implications and what it means.
2A The dollar continues strengthening as rates rise. Will the Euro go lower against the dollar now that we are at parity?
Multinational companies most effected.
3) Oil is below $98 per barrel. Why?
Producers are producing near capacity and there is a slowdown in demand primarily through China.
4) Builders are slashing home prices and slowing construction as buyers pull back.
Home price increases slowed slightly in April year over year to 20.4% and further slowed in May. June may be the first month post peak with prices actually dip month over month.
June actual sales of homes are down 31% year over year. Cancellations have jumped and in some areas 'sales have fallen off a cliff" according to local Realtors.
5) Small business sentiment has plunged to a 48 year low as Inflation is the biggest concern by far.
6) Giant tech companies Alphabet and Microsoft and slowing hiring or marginally reducing staff.
7) Why do we still have 11M job openings?
8) Why is Treasury Secretary Janet Yellen in Asia ginning up support for a cap on Russian oil prices? Aren't the risks much greater than the potential reward?
How would this work in theory? Sanctions on Russia have had only nominal success.
9) What effect is the Crypto collapse having on the over all economy. Founders of Crypto firm 3AC are missing and the company is in bankruptcy.
They had $10B in Assets under management in March.
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The Schaftlein Report | Economist expect 8.8% Inflation number for June. Is this Peak Inflation?
Guest - Guest Host: Drew Allen - Conservative Political Analyst, Author, and Speaker ( DrewThomasAllen.com )
1) Oil dips below $100 per barrel and the Dollar and Euro reach parity. Concerns about energy costs in Europe, war in Ukraine, recession in Europe
and Fed raising rates in the U.S. are the reasons.
1A) Federal Reserve on track to raise rates 75 basis points this month
2) Joe Biden's age is NOW the issue as Democrats look to alternatives
3) 46% of Republicans want someone other than Trump. We'll discuss alternatives.
4) 300 Virginia state employees quit rather than return to work in the office. GOOD!
5) "Foot in Mouth - Jill Biden "Hispanic community is as unique as a breakfast Taco". Staff apologizes
6) 60K soldiers could be removed from service for not taking the vaccination even while military recruiting is not achieving their goals.
Drew provides analysis.
7) Some bay area cities are banning construction of new gas stations to fight climate change. Meanwhile China plows ahead.
Meanwhile, Germany will not retire 11 Coal fired power plant. They will also RE-COMMISSION 17 coal and oil fired plants.
So much for climate change when people may freeze.
8) Ukraine war shows no signs of letting up. What will it take to reach a resolution? Timing?
9) Biden to visit Palestinian hospital in East Jerusalem and pledge $100M in U.S. aid in a slap at Israel.
10) Immigration courts have a backlog of 1.8M cases. Deportations are drastically down under Biden as there are virtually no efforts made
to enforce the law. Cases are dismissed or courts grant relief even after an order to remove. 70% chance of deportation under Trump,
just 24% under Biden. It is a surrender to the invasion.
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Schaftlein Report | Biden Presidency Failing/ Boris Johnson Resigns as Prime Minister
Guest - Jeffrey Dunetz
1) In England, Boris Johnson's government collapses and he is forced to resign over lack of confidence and poor decisions
2) Confidence in Biden plummets among all groups. Right, Center and Left is not happy with his leadership and the direction or lack there of.
3) A scaled down Build Back Better? Sen. Schumer still pushing radical tax and spend climate and health care bill.
Also discussing with Sen. Manchin a plan to allow Medicare to negotiate drug prices starting in 2023
4) Schumer used to fight to keep the filibuster.
5) NEA and the teachers union proposes changing the word "mother" to "birthing parent". These Woke people are completely out of touch with American values.
6) Concerning the border Invasion, instead of helping the state of Texas, the U.S. is investigating Texas operation Lone Star to combat the border surge
claiming potential civil rights violations
7) Brittney Griner pleads guilty to drug charges in Russia.
8) Newsome "freedom commercial" draws criticism from Floridians who are overwhelmingly happy with their governor.
Backlash for Montana vacation and will he run for President in 2024?
9) Federal Reserve remains on course to hike rates 75 basis points this month in effort to curb inflation.
Some sign say the inflation is cooling. Mortgage rates decline to 5.3% is largest since 2008.
Commodities have fallen by a large amount.
10) Russia continues to prosecute the Ukraine war slowly advancing as casualties mount and territory falls.
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Schaftlein Report | 88% say Country is on the Wrong Track
Mark Schaftlein host with Special Guest - Tom Amenta
Today in the News
1) Only 12% say the USA is going in the right direction.
2) Biden approval at 36% in Monmouth poll. 58% Disapprove. A 22 point gap.
3) Radical liberal Democrats are frustrated with Biden on abortion even though he has very limited options on this subject.
4) Likewise, even after signing a bipartisan gun bill, they are still not happy in the aftermath of Highland Park which had very tough gun laws.
5) Biden administration sues Arizona over law requiring proof of citizenship to vote? This perfectly illustrates the gap between ordinary
Americans who favor such laws and the political elite.
6) Germany is on track to shut down 3 fully operating nuclear plants while Europe is having an energy crisis.
The EU has requested they keep them open. Again the radical greens are in control in Germany. How stupid can they be?
7) Oil prices fall below $100 as fears of recession take hold.
8) Biden administration is considering raising ozone standards in Permian basin where we get 40% of our oil.
He is either brain dead or deliberately committing political suicide.
8) Suspect admits to mass killing in Chicago
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The Schaftlein Report | Supreme Court Crushes EPA in 6-3 Ruling
Schaftlein Report | Supreme Court Crushes EPA in 6-3 Ruling
Guest - Jeffrey Dunetz - LidBlog Author ( LidBlog.com )
Topics:
1) West Virginia versus EPA: Ruling reverses 1973 law that empowered the EPA's regulatory authority over Coal, Power Plants and the Fossil fuel industry. EPA does not have unheralded regulated authority to dictate policy. Congress should dictate rules and not the EPA. This is a HUGE loss for Climate Activists. Victory for energy!!
2) This year the EPA has denied 69 requests from oil companies to make cheaper gasoline under "small refinery exceptions" for ethanol to meet renewable fuel standards. While there are food shortages in the world, radical democrats and climate activists force higher prices on consumers by requiring corm based ethanol in some gasoline products thus increasing the price.
2B) Court rules 5-4 for Biden against Trump's Remain in Mexico policy for people coming from other countries
3) 73% of Americans believe the country is going in the wrong direction in one poll and 85% in a second poll.
4) In Real Clear Politics Polling Average, Biden hit s new Low of 38% approval and 57.5% Disapproval. 19.5% deficit.
On the Economy. he is upside down by 30 points.
5) Small businesses and larger corporations are leaving Chicago as violent crime is up 35%. Once again a liberal democrat is in charge. 20 year old woman shot at point blank range in back of head in Upper East side of NYC strolling her baby
6) Inflation and crime are way more important to Americans than Abortion
7) Recession fears grow as food inflation is at a 42 year high.
Biden rules out asking Saudi Arabia to produce more oil.
8) Biden reaffirms commitment to back Ukraine to defeat Russia as more weapons to be sent by NATO countries to Ukraine
9) 1-6 hearings resemble Soviet show trials. Secret Service refutes witness claims of Trump in The Beast.
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