Connect with us

Opinion

Inflation Remains Elevated at 8.3% | Schaftlein Report

Guest: Jerry Bowyer – Economist, Journalist, Author of multiple books including The Maker Versus the Takers, Founder of the Allegheny Institute

Published

on

Inflation Remains Elevated at 8.3% | Schaftlein Report
—————-
Guest: Jerry Bowyer – Economist, Journalist, Author of multiple books including The Maker Versus the Takers, Founder of the Allegheny Institute
Topics:
1) 8.3% was above the estimate of 8.1% and slightly below the 8.5% in March. We’ll explain further how we as a country got to this point. In a Press Conference, Biden blamed Supply chain problems, Putin and a truly ridiculous statement blaming Republicans even though his policy contributed mightily. With Democrats controlling all three branches of government, the American people are placing blame squarely at Biden and his policies
2) The Core CPI excluding food and energy came in at 6.2%
a. Shelter is up the most since 1991
b. Inflation adjusted earnings fell 2.6% (wage spiral risk?)
c. Energy is up 30%, food up 9% and housing up 5% and likely higher over the past year
d. The middle class and lower income people are getting hurt badly by these higher cost of living increases
3) The Federal Reserve pledges rate increases to get inflation back to 2%. We’ll provide analysis as to why the Fed has failed in its core mission as Jerry and I have discussed for months
4) The 10 year Treasury is above 3%
5) Adjustable rate mortgages are now at 11% of all loans and 19% of the dollar amount
6) Student loan debt is now at $1.59T including new loans and accrued interest
*Total household debt now at $16T
7) House passes a $40B Ukraine aid package (368-57). Senate expected to follow
*Military (arms, training and U. S. personnel) and economic assistance plus $5B for anticipated food shortages
**Total Ukraine support nears $54B
8) Biden approval at 39% in IBD/Tipp poll. Lowest since February at 38%

Opinion

NEW NATO NARRATIVE: Ukraine Can ‘Win’ War with Russia

Know one would have even considered the possibility 3 months ago.

Published

on

Well that is one heck of a turnaround, eh?

We’ve gone from watching Russia amass an enormous fighting force on the borders of Ukraine, (all while telling the world that it was all routine and to butt out), to watching those same tanks and personnel roll into the sovereign neighboring nation, all the while worried that Russia would simply steamroll Kyiv and take the whole country for itself in a matter of days.

Nearly three months later, and that story is changing…and dramatically.

Ukrainian forces say they have pushed back the Russian military in the region around Kharkiv in northeastern Ukraine, and near the border with Russia, continuing a counteroffensive that has prompted Russian troops to withdraw from around Ukraine’s second-largest city.

Then came a surprising suggestion.

NATO’s Secretary-General Jens Stoltenberg said Sunday that “Ukraine can win this war” following an informal meeting of the group. His comments came after Finland announced it would apply to join the military alliance in what marks a historic move for the traditionally neutral Nordic country.

Joining the military alliance will “maximize” Finland’s security after Russia’s unprecedented invasion of Ukraine in February, President Sauli Niinisto said.

Sweden is expected to follow suit with both applications likely to enflame tensions between NATO and Russia further. Moscow warned last week of “retaliatory steps” if Finland joined the alliance.

Ukrainian President Volodymyr Zelenskyy is drinking the proverbial Kool-Aid as well, having claimed that Eurovision will be able to hold its enormous, annual songwriting competition in Mariupol next year.

 

Well that is one heck of a turnaround, eh? We’ve gone from watching Russia amass an enormous fighting force on the borders of Ukraine, (all while telling the world that it was all routine and to butt out), to watching those same tanks and personnel roll into the sovereign neighboring nation, all the while worried that Russia would simply steamroll Kyiv and take the whole country for itself in a matter of days. Nearly three months later, and that story is changing…and dramatically. Ukrainian forces say they have pushed back the Russian military in the region around Kharkiv in northeastern Ukraine, and near the border with Russia, continuing a counteroffensive that has prompted Russian troops to withdraw from around Ukraine’s second-largest city. Then came a surprising suggestion. NATO’s Secretary-General Jens Stoltenberg said Sunday that “Ukraine can win this war” following an informal meeting of the group. His comments came after Finland announced it would apply to join the military alliance in what marks a historic move for the traditionally neutral Nordic country. Joining the military alliance will “maximize” Finland’s security after Russia’s unprecedented invasion of Ukraine in February, President Sauli Niinisto said. Sweden is expected to follow suit with both applications likely to enflame tensions between NATO and Russia further. Moscow warned last week of “retaliatory steps” if Finland joined the alliance. Ukrainian President Volodymyr Zelenskyy is drinking the proverbial Kool-Aid as well, having claimed that Eurovision will be able to hold its enormous, annual songwriting competition in Mariupol next year.  

Continue Reading

Opinion

Biden Approval Crashes Again, This Time to Historic Low

This is just sad at this point.

Published

on

Look around your country.  See the struggle in real time.  Watch how hard it is for the rest of this nation to get to where they need to be, every day, and ask yourself “why does it need to be like this?”.

And then realize that all of this trouble is coming to America in what was supposed to be the launching months of a new “roaring twenties”; as COVID faded and the economy roared back to life, America was poised to be a global show for the ages.

Instead, the last year and a half have been filled to the brim with turmoil and strife and not much nice.

US President Joe Biden is taking his lumps on account of it.

An NBC News poll released Sunday shows Biden’s job approval rating has plunged to a fresh low, with just 39 percent of Americans approving of the job he’s doing and 56 percent disapproving.

This was a new milestone for the reluctant leader.

Those numbers represents the lowest mark of his presidency.

Inflation, the economy and border security are the three main areas where voters see Biden failing them. The overall cost of living is standing as the public’s top issue.

Biden’s approval rating has experienced a few brief reprieves over the course of his presidency, but has continued on a steady decline almost from the start.

Look around your country.  See the struggle in real time.  Watch how hard it is for the rest of this nation to get to where they need to be, every day, and ask yourself “why does it need to be like this?”. And then realize that all of this trouble is coming to America in what was supposed to be the launching months of a new “roaring twenties”; as COVID faded and the economy roared back to life, America was poised to be a global show for the ages. Instead, the last year and a half have been filled to the brim with turmoil and strife and not much nice. US President Joe Biden is taking his lumps on account of it. An NBC News poll released Sunday shows Biden’s job approval rating has plunged to a fresh low, with just 39 percent of Americans approving of the job he’s doing and 56 percent disapproving. This was a new milestone for the reluctant leader. Those numbers represents the lowest mark of his presidency. Inflation, the economy and border security are the three main areas where voters see Biden failing them. The overall cost of living is standing as the public’s top issue. Biden’s approval rating has experienced a few brief reprieves over the course of his presidency, but has continued on a steady decline almost from the start.

Continue Reading

Latest Articles

Best of the Week