There’s a disconnect in the Main Street data that is perplexing from the standpoint of traditional economic and labor analysis.

There have been significant layoffs in the labor market as the result of diminished consumer spending activity. However, the Bureau of Labor and Statistics (BLS) is reporting a hotter than expected 263,000 new jobs in November [DATA HERE].

There were declines in jobs within the retail sector [-30,000 in Nov, -62,000 since August] and declines in warehousing and transportation [-15, 000 in November, -30,000 since July], which would indicate the outcome of lowered consumer spending on goods, or at least a change in consumer spending priorities.

Simultaneously, there were significant increases in jobs for leisure and hospitality [+88,000 in Nov], with the majority of those gains in food service and drinking.  However, that sector is still lower than the pre-pandemic by -980,000 jobs.  Also note people are not attending events with high ticket costs, the performing arts and spectator sports segment dropped 7,000 jobs [Table B-1]

Overall, if you were to look at the macro level jobs report, anything attached to the traditional spending of durable goods (retail stores) is declining.  However, the jobs related to the service or life experience are growing.  Oddly, and perhaps creepily, this dynamic falls in line with the ‘you will own nothing and be happy‘ cliche’ that has been oft spoken about the new post pandemic ‘Build Back Better‘ economy as espoused by the World Economic Forum.

Job gains in the infrastructure of life such as, building and construction, as well as the labor sector associated with skilled domestic service trades like plumbing, electricians, maintenance, etc are continuing to hold stable.  The major shift in the labor market surrounds the buying of durable goods which has disappeared along with the disappearance of discretionary income.   Which brings us to the wage portion of the BLS report.

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In an effort to keep the Daily Open Thread a little more open topic we are going to start a new daily thread for “Presidential Politics”. Please use this thread to post anything relating to the JoeBama Administration and Presidency.

“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”

“But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.”

~ Mike Vanderboegh

This thread will refresh daily and appear above the Open Discussion Thread.

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Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.

For Thine is the kingdom and the power and the glory, forever and ever. Amen †

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The 11th Circuit Court of Appeals having previously ruled the special master cannot review classified documents, also ruled today against the special master having any involvement in the filtering of seized documents from Mar-a-Lago.  [Ruling Here]

Previously, the lower court appointed a special master to review the seized documents and ensure no privileged material was exploited by the DOJ.  However, the appellate court determined the DOJ can independently define a national security interest and classify documents with no legal basis for challenge, therefore the special master cannot filter classified documents.

Today the appeals court essentially said if the search warrant was legally predicated and legally valid, and if the search warrant was used legally, then all the seized documents are valid for the investigative purposes of the DOJ – regardless of their content.  The only way to fight the authority of the DOJ seizure is to challenge the legality of the search warrant.  However, here’s where things get weird.

President Trump’s lawyers have been: (1) blocked from receiving a non-redacted search warrant; (2) denied access to the underlying probable cause affidavit used to predicate the search warrant, and (3) denied the full contents of the documents that were seized as part of the warrant (they are not allowed to see).  Yet somewhere in this convoluted mess, we are supposed to believe a 4th amendment violation doesn’t exist.

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People around the country are looking at the Georgia Senate runoff between Democrat Raphael Warnock and Republican Hershel Walker.  Lots of people wondering what is going on.  Well, last night the Republican Party of Georgia gave an excellent example of what it means to be Republican in Georgia.

Republican Lieutenant Governor Geoff Duncan appeared on CNN to share his opinion of Republican candidate Hershel Walker.  As Republican Duncan outlined during the interview, he stood in line for an hour, took a ballot at the polling location, and then decided he could just not vote for a Republican in Georgia, so he turned around and walked back out without voting.

Republican Geoff Duncan had no issue pushing this on CNN much to the smiles of the CNN producers, Democrats and the Warnock campaign.  This is what it means to be a Republican in Georgia.  WATCH (01:08 prompted 30 seconds)

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The 2022 goal of the Republican Party of Georgia is in alignment with the 2022 Republican National Committee.   The goal of Mr. Duncan and others is to remove the populist movement within the RNC by destroying the Make America Great Again grassroots movement.

Was Duncan censured? No.  Was Duncan criticized by fellow Republicans? Again, no.   Was Duncan ostracized for promoting an election position against the interests of the Republican Party? Yet again, no.  Did RNC Chairwoman Ronna McDaniel rebuke the effort to undermine Walker as carried out by Republican Geoff Duncan?  Rhetorical at this point, I know.

In the bigger or big pictures, Republican Lt Governor Geoff Duncan is doing what professional Republicans do.  He also knows there’s nothing to fear from it because he is operating on behalf of the majority Club interests who support his agenda.  However, somehow this will be President Trump’s fault.

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Federal education loan payments have been suspended ever since early 2020 when COVID was used as a justification to delay payments.  The current extension on the delay, a pre midterm bribe for young adults, runs through June 2023 and then people with the loans have to start paying again.

In the interim, Joe Biden had a plan to relieve up to $10,000 in federal student loans for low-to-middle-income borrowers and up to $20,000 for qualifying Pell Grant recipients.  However, that arbitrary Biden decree encountered multiple legal setbacks including rejection by a federal court in St. Louis and another in Texas.

Earlier today, the New Orleans-based 5th U.S. Circuit Court of Appeals again rejected the Biden administration’s request to pause the Texas order vacating the $400 billion student debt relief program in a lawsuit pursued by a conservative advocacy group. {LINK}  The Texas ruling from U.S. District Judge Mark Pittman was one of two decisions that prevented the Department of Education from moving forward.

The St Louis case, also lost on appeal and based on a similar finding that Biden cannot subvert congress for this spending, has now travelled to the Supreme Court who have agreed to hear oral arguments in February but will not intervene to stop the lower court rulings.

Washington — The Supreme Court said Thursday it will take up a court fight between the Biden administration and a coalition of six Republican-led states challenging the legality of the president’s student loan forgiveness program.

Solicitor General Elizabeth Prelogar asked the Supreme Court last month to lift an injunction from a federal appeals court that blocked implementation of the plan, but told the court that if it denied relief, it should agree to consider the merits of the case instead.

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West Virginia Treasurer Riley Moore lead the way earlier this year in removing Wall Street financial firms from holding state funds due to ‘Environmental, Social and Governance’ or ‘ESG’ climate change ideology driving investment decisions.

West Virginia had been the tip of the spear since early 2021 {link} removing Blackrock in January of 2022, and even removed banking contracts from multiple investment firms during the battle and asked other states to join in the effort {link}.

Today, Florida Chief Financial Officer Jimmy Patronis announced the DeSantis administration would be following the lead from West Virginia.

[FLORIDA] – […] State Chief Financial Officer Jimmy Patronis announced Thursday that Florida will immediately freeze about $1.43 billion in long-term securities and about $600 million in short-term overnight investments managed by BlackRock because of the firm’s use of “Environmental, Social, and Governance” standards — known as ESG.

Patronis in a prepared statement said he doesn’t “trust BlackRock’s ability to deliver” and “BlackRock CEO Larry Fink is on a campaign to change the world.”

“Whether stakeholder capitalism, or ESG standards, are being pushed by BlackRock for ideological reasons, or to develop social credit ratings, the effect is to avoid dealing with the messiness of democracy,” Patronis said.

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In an effort to keep the Daily Open Thread a little more open topic we are going to start a new daily thread for “Presidential Politics”. Please use this thread to post anything relating to the JoeBama Administration and Presidency.

“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”

“But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.”

~ Mike Vanderboegh

This thread will refresh daily and appear above the Open Discussion Thread.

(more…)

Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.

For Thine is the kingdom and the power and the glory, forever and ever. Amen †

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Having previously announced his intention to run for Chair of the Republican National Committee, Mike Lindell appears on a podcast with Jenna Ellis to discuss his specific proposals to reform the RNC and create a more effective election organization. {Direct Rumble Link}

In this interview Mr. Lindell discusses what he would do differently and the shakeup that he sees needed in order to realign the priority of the RNC. WATCH:

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