University of Pennsylvania, Wharton School of Business, Finance Professor Jeremy Siegel, takes a closer look at the June jobs data from the Bureau of Labor Statistics.  Professor Siegel notes a .01% drop in average hours worked is the labor equivalent of losing 450,000 jobs.

With factory demand dropping, and with inventories climbing, and with FTE’s (Full-Time Equivalents) dropping, the jobs report takes on additional context that aligns with the overall decline we feel in Main Street activity.  Essentially, regardless of how many jobs are “created” within the economy, the overall economic activity -as measured by the value of products & services generated- is declining.

Additionally, as noted by Professor Siegal, the current best estimate as reviewed by the several data points, is a current drop in overall GDP in the -2% range.   Seigal points this information out because the Federal Reserve is raising interest rates into an economy that has declining (demand side) consumer activity, which, correctly as he states, only makes the contraction more severe.  WATCH:

The core supply side costs (all based on energy policy) continue to increase and drive consumer prices upward.  Simultaneously, consumer demand is dropping because the goods and services impacted by the increased costs (most of which are unavoidable) are more expensive.  This creates a downward spiral.  Consumer prices are increasing on housing, energy, food and gasoline (supply side impacts), at the same time discretionary spending contracts.

In this scenario there is no way to avoid a steep recession.  However, the real priority of Joe Biden surrounds whether Jill will allow his favorite pudding, and if the shoes on the pancake mix keeps making sparkly rabbit noises.

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Earlier today Joe Biden held an official ceremony promoting the killing of unborn babies as a legacy initiative of his administration. Biden signed an executive order [View Here] stating that abortion “is essential to justice, equality, and our health, safety, and progress as a Nation.”

{Direct Rumble Link} – Executive Order Here – WATCH:

(Via Reuters) – […] Biden, [a member of the progressive death cult], has been under pressure from supporters, particularly progressives, to take action after the landmark decision, which upended roughly 50 years of protections for women’s reproductive rights.

The president’s powers are constrained, because U.S. states can make laws restricting abortion and access to medication, and the executive order is expected to have limited impact.

Biden will direct the Health and Human Services Department to take action to protect and expand access to “medication abortion” approved by the Food and Drug Administration, the White House said.

Experts have said a pill used to terminate early pregnancies is unlikely to become available without a prescription for years. States that already restrict the medication would not be affected by the presidential order.

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The Bureau of Labor Statistics (BLS) has released the June jobs report [Data Here] showing 372,000 job gains on the establishment survey of businesses.  However, the April and May reports were revised downward by 74,000 jobs, and there is an odd disconnect between the survey of businesses and the survey of households.

The survey of businesses (BLS establishment report) shows job gains of 372k for the month of June, but the survey of households (BLS household report) shows that fewer people are working.  The labor-force participation rate slipped to 62.2% from a previous high of 62.4%, fewer people are working.

This odd disconnect has many people wondering what is going on?

Wage growth comes in at 5.1% on an annual basis, which is far below the current BLS calculated rate of inflation at 8.6%. Meaning wage growth is not keeping up with inflation despite workers entering the labor force at a higher entry level wage.

Economists overall are flummoxed as job gains would indicate a strong economy. However, the actual economic activity, the creation of goods and services, is not growing.  Quite the opposite appears.  Orders for factory goods have dropped, inventories of currently available goods are climbing, and sales figures across a broad spectrum of companies are negative.  The economy as measured by the creation of goods and services is stalled, but the economy as a measure of employment is firm.

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Former Prime Minister Shinzo Abe was a bulwark against communist expansion in Asia.  Abe was a strong voice defending the independent rights of the people of Taiwan, and his assassination will have major reverberations around the world, specifically throughout southeast Asia.

No doubt Beijing is celebrating the assassination today, even while they retain their dragon grins behind the panda mask.  Losing Shinzo Abe is a very big deal in Japan akin to the United States losing JFK decades ago.

Earlier today, delivering remarks on new state healthcare initiatives during a visit to Cape Coral [full presser here], Florida Governor Ron DeSantis delivered remarks on the killing of former Prime Minister Shinzo Abe.  WATCH:

https://youtu.be/UtZkPMml4po

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After an assassin shot former Prime Minister Shinzo Abe during a political street rally, Doctor Fukushima Hidetada of Nara Medical University said, “We tried to resuscitate him but, unfortunately, he died at 5:03 p.m.”

1954 – 2022

Prime Minister Shinzo Abe was a transformative figure in Japanese politics.  A devout nationalist with a humble demeanor, Abe shifted the national sentiment from post war apology toward an outlook of pride in Japanese culture, work ethic and traditional value.  He was beloved by conservatives and patriots in Japan and disliked by leftists and globalists.

Perhaps the best example of Abe’s incredible personal and political influence was his visit to Pearl Harbor in December 2016.  It was the 75th anniversary of the Japanese attack.  Although Japanese leaders had visited Pearl Harbor before, Prime Minister Abe was the first to visit the hallowed memorial resting atop the sunken USS Arizona.  It was an amazing and moving moment in history.

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One of the most frustrating aspects to our current state of national affairs is that no politician will articulate the basic commonsense problem, and how the people handling Joe Biden are directly to blame for it.  Instead, DC and national politicians talk around it, all of them pretending not to know.

However, at least there is one voice in Tucker Carlson who articulates the economic and political reality in a framework that most can understand.

In his opening monologue tonight, Carlson succinctly points out how the current state of economic anxiety is directly the result of Joe Biden chasing the Green New Deal initiatives that progressive, communist democrats have advocated for years.  WATCH:

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The energy crisis is intentional.  The food crisis is intentional.  Everything that is happening domestically in our economic crisis is happening intentionally.  All of the problems are the result of intentional policy decisions.

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A great monologue by Sky News Host Rowan Dean connecting the dots between Canadian Prime Minister Justin Trudeau, Dutch Prime Minister Mark Rutte, the current farmers protests and the World Economic Forum global food hub initiative. {Direct Rumble Link} WATCH:

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The server maintenance conducted last night was considerably more challenging than initially anticipated.  Unfortunately, the anticipated 20 minutes of down time ended up being, intermittently, around three hours.   Hopefully, that is not the case tonight.

CTH server containers are anti-fragile, privacy protected and a little ‘technically heavy’ in the modern era of optimized data networks.  In order to ensure last night’s fix was identified and implemented accurately, another maintenance test is needed tonight.  “This maintenance is being performed to exercise prior changes made and validate that we’ve fully resolved the issue.”

Unfortunately, there may be site disruption after 9:00pm ET tonight.   Engineers say disruption should last around 20 minutes; however, they said the same thing last night.

My apologies in advance.

Love to all,

Sundance

Joe Biden previously called President Donald Trump, “the great MAGA king” in an effort to disparage both Trump and MAGA supporters everywhere.  It didn’t work.

As anticipation builds around the question of President Trump running for office in 2024, the Great MAGA King provides an update:

“During my four years in the White House, I didn’t use everybody’s favorite airplane, the Boeing 757 we campaigned on for our big 2016 WIN. Now it has been completely modernized and renovated, and looks GREAT, all done in the Great State of Louisiana, and coming back to the skies in the Fall of 2022, or maybe sooner. Get ready! ” ~ Donald J Trump WATCH:

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She is beautiful.

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It emerged yesterday that British Prime Minister Boris Johnson — having previously claimed no knowledge — was warned about alleged sexual misconduct by a cabinet member named Chris Pincher. Mr. Pincher is accused of sexually touching male aides on several occasions in the past, and Prime Minister Johnson was warned about the issue at least five times since July 2019, yet he did nothing.

Against a backdrop of partygate and odd scandals in his administration, now everyone in British politics is using the Pincher scandal to go after Johnson. [Daily Mail Has Details]

Several high-level members of Johnson’s government have resigned.  A total of more than 35 members of his government have left their position [Details Here] as the apex of the mob now descends on 10 Downing Street and the British media are in a frenzy.  The big question is, ‘will Boris Johnson survive?’  Nigel Farage gives his take. {Direct Rumble Link} – Video Below:

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