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?