The Schaftlein Report

1) Blake Masters wins Senate Republican Primary in Arizona. He was backed by Trump and Investor Peter Theil. 2) Eric Schmidt wins Senate Republican Primary in Missouri defeating the former Governor backed by Trump. 3) Representative Peter Meijer of Michigan who voted to impeach Trump defeated by former Trump administration official John Gibbs. Democrats contributed $500K to Gibbs campaign. He is n...

  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 dat...

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....

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 d...

Guest: Andrew Craqpuchettes 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...

  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 R...

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...

CNN Poll 68% believe Biden has the Wrong Priorities.   Americans overwhelmingly want the administration to focus on Inflation.   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...

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...

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 MB...

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...

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 yes...

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 di...

Inflation July 11, 2022

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...

Only 12% say the USA is going in the right direction. 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. Likewise, even after signing a bipartisan bill, they are still not happy in the aftermath of Highland Park which had very tough gun laws. Biden admini...

Biden's Failing Presidency/Chicago Killings Guest - Joe Visconti - Political Commentator 1) 71% of Americans do not want Biden to run for re-election. 45% feel he is a bad President, 36% too old and 60% doubt his mental abilities 1A) Democratic Pollster John Zogby rates Biden's performance as President a D. Says "He is in real trouble" 2) 6 dead and 19 hospitalized in Chicago Parade shooting. 21 y...

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...

Topics : 1) Cook Political Report moves 6 House races toward GOP. 38 Democratic seats considered toss up or worse 10 Republican seats considered toss up or worse Current projection is GOP pick up of 20-35 seats 2) Supreme Court rules voting map crafted by Republicans in Louisiana is correct by 6-3 vote overruling Obama appointed District Judge who tried to draw a district demographically more favo...

Topics: 1) Tractor trailer full of migrants left abandoned in Texas summer heat cause widespread death and injury a. Officials looking for truck owner and driver. b. 7K a day try crossing the border - Biden press secretary "The border is closed" - NO IT IS NOT 2) Russian terrorist attack on shopping mall in central Ukraine - Many dead and wounded a. Air Defense Systems being sent b. NATO to increa...

Topics: 1) States will now decide: a. What happened to the Leftists Rage - Most protests were peaceful however some violence in Portland and Phoenix where tear gas used to disburse crowd b. Warren wants to pack the court - Biden says No c. Hollywood crushed d. Media Liberals employ scorched earth plan e. Trump blamed and credited f. Ginsburg blamed by leftists g. Radical Democrats like Waters and...

Topics: 1) Biden asks Gas Station owners to lower prices and continues his criticism of oil companies a. Americans have "Tuned Out" Biden - His gun speech was viewed by only 5% of focus group participants b. Germany may have to ration gas 2) Secretary Granholm to meet with oil and refinery companies to discuss the issues - Claims she has no idea how to resolve the problem but at lest it is a step...

Topics: 1) Crude Oil prices fall to $103 per barrel as recession fears hit market - But for how long? 2) Fed chairman Powell: "higher rates will moderate asset prices" *"Price stability is the bedrock for the economy" - We do not have that right now **Inflation is a supply demand imbalance and a policy error of the Biden administration and the Federal Reserve 3) The current Fed funds rate is 1.6%...

Topics: 1) Basklash - Biden says what we all knew - Higher gas prices has a silver lining of shifting to renewal energy sources a. This has been their plan all along - They WANT high gas prices b. The problem is that high gas prices have had virtually no effect on climate change as drivers continue to drive and pay the higher cost c. We have not seen demand destruction d. Biden considers Gas Tax H...