The good news is that gasoline prices have dropped in the past several weeks to an average of $4.13/gal.  However, the bad news is that most of the drop in price is related to gasoline demand dropping to the same level as July 2020 during the pandemic lockdown phase.

Obviously, $4.13/gal is still a very high price for gasoline, and that is leading to fewer people purchasing gasoline.

(Via Fox) – […] New data from the Energy Information Administration (EIA) shows that gas demand dropped from 9.25 million barrels per day to 8.54 million per day last week. That’s 1.24 million barrels per day lower than last year and “in line with demand at the end of July 2020,” when there were widespread virus-related restrictions and fewer people were hitting the road, according to AAA. 

The latest demand figures bolster a recent AAA survey that revealed 64% of drivers had changed their driving habits or lifestyle since March to offset the high prices at the pump. (read more)

If you think about the position of the Organization of Petroleum Exporting Countries (OPEC or OPEC+), it makes sense for them to recognize the intentions of the western leaders to shrink the western industrial economies and respond accordingly.

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A few days ago, we were discussing the disconnect within the economy as it relates to corporate valuations.  The Bureau of Labor Statistics report today [DATA HERE] highlights another economic disconnect, this time with labor.  According to the BLS survey 528,000 jobs were added to the economy in July, the unemployment rate drops to 3.5%.

The household data [Table A] shows the number of eligible workers unemployed dropped 242,000; however, the number of eligible workers no longer in the workforce increased by 239,000.  The total labor force is shrinking as unemployment drops.

Keep in mind the previous BLS survey of job openings (JOLTS report) showed available jobs dropped 605,000 in July.  “On the last business day of June, the number and rate of job openings decreased to 10.7 million (-605,000) and 6.6 percent, respectively. The largest decreases in job openings were in retail trade (-343,000), wholesale trade (-82,000), and in state and local government education (-62,000).” [JOLTS survey]

Going back to today’s release, 303,000 part-time jobs were added in July; these are workers working part-time for economic reasons.  The Household Data shows that within the leisure and hospitality sector [Table B-1] restaurants and bars added 74,000 jobs.

If we combine both BLS surveys two days apart is: 605,000 job openings cancelled, and 528,000 new jobs gained.

Of the 528,000 new jobs gained, 303,000 were part time jobs with the largest growth in the jobs in restaurants and bars.

Again, blending data from both reports and focusing on retail.  The retail sector cancelled 343,000 job openings in July, and the retail sector added 21,600 jobs in July.  Within the retail sector (table B-1), jobs at automotive dealers, furniture stores and clothing/apparel stores dropped by a combined 7,200 jobs.

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Arizona Senator Kyrsten Sinema has announced her support for the senate climate change spending and tax proposal after some modifications to the new taxation.

To support the hedge fund donors, Senator Sinema insisted the carried interest loophole tax provision be removed and instead replaced with a corporate tax on stock buybacks.  Any time a corporation wants to buy back their own shares of stock, they will now pay the U.S. government a tax for doing so; at least that’s the ¹intent.

[¹Note: taxing shares of company stock will never work, because that’s exactly what shell companies were designed to avoid.  Set up a child shell company to purchase the stock and the parent company doesn’t pay taxes on the child’s purchase.  It’s a shell game]

Additionally, according to reports, there is some kind of agreement to modify the 15% corporate minimum tax.  Details unknown.  Bottom line, Senator Sinema now supports the $700 billion climate change spending and tax proposal.

“We have agreed to remove the carried interest tax provision, protect advanced manufacturing, and boost our clean energy economy in the Senate’s budget reconciliation legislation,” Sinema said, signaling that she plans to vote to begin debate on the bill.  “Subject to the parliamentarian’s review, I’ll move forward,” she said.  (link)

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With ballots continuing to be counted in various counties around Arizona, specifically including the corrupt county of Maricopa, Republican candidate Kari Lake has extended her lead beyond the ability of Arizona election officials to remove it.  The Associated Press calls the race for Kari Lake.

PHOENIX (AP) — Kari Lake, a former news anchor who walked away from her journalism career and was embraced by Donald Trump and his staunch supporters, won the Republican primary for Arizona governor on Thursday.

Lake’s victory was a blow to the GOP establishment that lined up behind lawyer and businesswoman Karrin Taylor Robson in an attempt to push their party past the chaotic Trump era. Lake said she would not have certified President Joe Biden’s 2020 victory and put false claims of election fraud at the center of her campaign.

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The long-term motives and plans of the J6 committee and their coordination with the DOJ are starting to come into increased clarity as the mid-term elections draw near.

A key indicator of the strategy from within the J6/DOJ effort surfaced when the quasi-constitutional “committee” sent a subpoena to former President Trump legal counsel Pat Cipollone, then leaked the subpoena, then leaked the testimony, then shaped, edited and broadcast the testimony during their prime-time broadcast.   After the J6 broadcast, attorney Cipollene was then subpoenaed by the DOJ and recent reports indicate he is being called to testify before a grand jury.

The legal strategy, hereafter called by what it is, a Lawfare strategy, is now clear.

The legislative branch, specifically the J6 committee, is attempting to use their self-created legislative legal authorities, to fracture long established attorney-client privileges, and then send the results to the DOJ for use against the client of the attorney.  This explains the importance of former White House attorney Lisa Monaco taking up her position as Deputy Asst Attorney General.

The DOJ would be shut down by any ordinary court of jurisdiction, even in the heavily political Washington DC system, if they attempted to get a lawyer to give testimony about his legal advice to a client.  It is one of the most basic tenets and legal privileges in our system.

Attorneys cannot be compelled to give testimony against their clients, it is a standard long accepted in our legal system.  Any attorney who would break the confidence of the attorney-client privilege would lose their license.

Additionally, as the president, other privileges exist for President Trump, specifically the executive privilege to receive counsel or advice -from any person- on any issue that would pertain toward the administration of the executive office.  The president needs to be able to receive information in confidence, and the people giving advice and counsel need to be able to speak freely without fear the content of the conversation would later be used by another entity not involved in the issue at hand.

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Despite the overwhelming support of mainstream corporate media, Wyoming DeceptiCon Liz Cheney is likely to be crushed in the republican primary race on August 16.

In addition to voting to impeach President Trump and being removed from her congressional leadership position, DC Liz was one of only two republican votes to support the formation of the J6 Committee (the other was Adam Kinzinger).  DC Liz has been begging Wyoming Democrats to vote for her in the republican primary contest so she can save her seat.

In an embarrassing and genuinely pathetic last-ditch effort, her father, DC Dick, recorded a campaign commercial begging the people in Wyoming to support his daughter.

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Keeping with historic trends in Puerto Rico, another corrupt governor has been arrested and indicted on corruption, bribery and fraud charges.  Wanda Vazquez Garced replaced Ricardo Rosselló after he was accused of racism and having a homophobic cabinet.

During her term in office, millions of dollars’ worth of Hurricane Maria aid was discovered being stored and sold on the black market from various warehouses. [Go Deep]

The hurricane supplies provided by U.S. taxpayers were never given to citizens and were instead being used by government officials and sold to retailers. The Housing Secretary (Fernando Gil), the Department of Family Secretary (Glorimar Andújar) and the director of Puerto Rico’s emergency management agency were all fired as part of the scandal.

Governor Wanda Vazquez lost her primary reelection bid in August 2020, and today was indicted for corruption, bribery and wire fraud.

(Via DOJ) -A former governor of Puerto Rico was arrested today on bribery charges related to the financing of her 2020 campaign.

Relatedly, a political consultant for the former governor and the president of the international bank have also pleaded guilty to participating in the bribery scheme.

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Under the Florida constitution the Governor has the authority to suspend state officials for reasons of misfeasance, malfeasance, neglect of duty, drunkenness, incompetence, permanent inability to perform official duties, or commission of a felony. The Governor has further authority to fill that office by appointing a replacement for the duration of the suspension.  Today, Florida Governor Ron DeSantis suspended Hillsborough County state prosecutor Andrew Warren for failing to enforce the laws of Florida.

Specifically, Andrew Warren had announced he would not enforce laws created by the Florida legislature that were as against his personal political outlooks. Warren publicly stated he would not enforce laws restricting abortion, anti-riot laws, and any law that sought to protect children from adult predators.  “We don’t elect people in one part of the state to have veto power over what the entire state decides on these important issues,” Governor DeSantis said.

Governor Ron DeSantis made the announcement of the suspension and replacement in Tampa, with a group of law enforcement and sheriffs from across the state. WATCH:

This was/is a bold move and Ron DeSantis is well supported in Florida for doing it.

TAMPA, Fla.— Today, Governor Ron DeSantis suspended State Attorney Andrew Warren of the 13^th Judicial Circuit due to neglect of duty. The Governor has the authority to suspend a state officer under Article IV, Section 7 of the Constitution of the State of Florida.

The Governor has appointed Susan Lopez to serve as State Attorney for the period of suspension. She has most recently been serving as a Judge on the Hillsborough County Court. To view the order suspending Andrew Warren and appointing Susan Lopez, click here.

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WNBA player Brittney Griner was arrested in Russia in February for bringing cannabis oil into the country while traveling for a basketball game.  Griner brought vape cartridges with her containing cannabis oil, a prohibited substance in Russia.  Today the 31-year-old was sentenced to nine years in Russian prison, after she was found guilty of possession and smuggling of illegal drugs.

The Biden administration is attempting to work out a prisoner exchange where Griner and Paul Whelan, a former U.S. Marine detained in 2018 in Russia of espionage charges, would be released in exchange for Russian arms dealer Viktor Bout.

The White House released the following statement:

“Today, American citizen Brittney Griner received a prison sentence that is one more reminder of what the world already knew: Russia is wrongfully detaining Brittney. It’s unacceptable, and I call on Russia to release her immediately so she can be with her wife, loved ones, friends, and teammates.  My administration will continue to work tirelessly and pursue every possible avenue to bring Brittney and Paul Whelan home safely as soon as possible.”

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According to election officials in Maricopa County, Arizona, they will provide further updates on their ballot counting efforts on Thursday after 7pm.  The election was Tuesday.   Apparently, in Arizona it takes several days to count election ballots or something, and we are not supposed to think this is odd. [LINK]

As of the latest update from Arizona in the Republican primary for Governor: Kari Lake has 303,860 votes (46.25%), and Karrin Taylor-Robson has 291,843 votes (44.42%).

[LINK] Kari Lake is leading by 12,017 votes.

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