Federal Reserve Chairman Jerome Powell admitted the obvious in his senate testimony today when asked about U.S. inflation.  However, his testimony directly contradicts the White House claims.

Senator Bill Hagerty (R-Tenn.), member of the Senate Banking Committee, walked through the inflation timeline and asked Chairman Powell about the cause of the escalated inflation in 2021.  Powell admitted the massive rise in inflation had nothing to do with the Russian invasion of Ukraine. WATCH (02:16 Prompted):

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Reuters has an interesting, albeit sad article, highlighting the state of the U.S. and global economy.  According to the article, many college graduates this year are finding their recent job offers rescinded as the landscape for employment quickly evaporates.

The article focuses on the tech sector with various platform companies yanking the jobs.  Twitter, Meta (Facebook), Lyft and Uber are all mentioned as downsizing, freezing current employment and/or leaving positions unfilled.

(Reuters) – […] In what appears to be a counter trend to the Great Resignation of 2022, when legions quit for new jobs, some tech job-seekers now face cost cuts and hiring freezes amid four-decade-high inflation, a war raging in Ukraine and the ongoing pandemic.

In the case of those who were poised to join Twitter, the whims of billionaire Elon Musk have also caused stress. Musk has agreed to buy Twitter for $44 billion, but his recent tweets have raised questions about when and if the acquisition will be completed. 

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There are going to be multiple negative economic indicators surfacing in the next 60 days as the first wave signals of a deep and prolonged recession begin to reach shore.  Think of it like an economic meteor that hit the mid-Atlantic while only a few people were tracking its inbound trajectory and prepared for what was likely.

We are not likely to see much good economic news, but on the positive side, most readers are prepared.   Again, I will repeat… If you did not purchase a home this year, you are already ahead financially.

Housing sales are dropping fast, but housing values are, on a regional basis, holding steady – for now.  However, the banks and lending institutions are preparing for those values, and the contained equity, to drop and disappear precipitously.

Today Bloomberg is reporting that JPMorgan Chase is shifting around 1,000 employees in the mortgage side of finance with some being laid-off and others being reassigned to different parts of the bank and financial services.   This should not come as a surprise, but it does align with other less noticeable moves in the banking and home loan sector.

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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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Primary election contests continue today in Alabama, Georgia, Virginia and Arkansas with run-off elections.

One of the key contests people are watching is Representative Mo Brooks of Alabama, a six-term congressman, facing Trump-endorsed Katie Britt in a runoff election for the Alabama senate seat.  President Trump rescinded his endorsement of Mr. Brooks earlier this year and endorsed Ms. Britt.

New York Times Election Results Here

CNN Election Results Here

Politico Election Results Here

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The New York Times reported this.  There is a certain irony in the New York Times outlining the consequences of the U.S. led sanctions are essentially that western governments and NATO countries are essentially punishing themselves with continued sanctions against Russia.  Then again, the WEF coalition doesn’t really seem to care as long as they can continue chasing their Build Back Better agenda.

(Via New York Times) – The ruble cemented its unlikely status as the world’s best-performing currency, rising to new multiyear highs this week. Since collapsing in the weeks after Russia’s invasion of Ukraine, which triggered sweeping international sanctions aimed at crippling the Russian economy, the ruble has come roaring back.

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Earlier today, touting vaccines for babies and children 6months through 5 years of age, Joe Biden explained they needed more taxpayer money to give to pharmaceutical lobbyists to pay for vaccines and organize the next pandemic. {Direct Rumble Link} – WATCH:

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We The People are in an abusive relationship with Joe Biden’s government.

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The current White House Press Secretary, Karine Jeanne-Pierre, is hopelessly over her head and does not possess the intellectual or professional skills to articulate clear policy or answer questions.  Her professional inability is brutally obvious, yet political correctness dictates everyone is supposed to pretend not to notice.  In a weird way she is a perfect representation of the Biden White House.  Jeanne-Pierre is the Kamala Harris of Hank ‘tippy guam’ Johnsons.

That said, the White House is using former Pentagon spokesperson, and current National Security Council Coordinator for Strategic Communications, John Kirby, as a crutch to support Jeanne-Pierre until enough time passes and the permanent switch can take place without backlash from the media and left-wing cultural police.   Narrative engineering is a tenuous business and relies upon media pretense to continue.

With the shortage of infant formula still visible as an example of Biden incompetence, today the White House began selling a proactive strategic communication message in advance of looming food shortages.  {Direct Rumble Link} Yes, you guess it, the advanced position of the Biden administration is that the future U.S. food shortages are Vladimir Putin’s fault.

Apparently, Russian President Vladimir Putin has the ability to drive up U.S. inflation, explode U.S. energy costs, increase gasoline prices, influence global agriculture, weaken U.S. oil refining capability, disrupt availability of diesel fuel, impede the transportation of U.S. goods, force municipal energy companies to raise prices, cancel airline flights, stop the manufacturing of infant formula and now block the production -and increase the cost- of food in North America.

It’s worth noting how John Kirby says NATO and the western allies can deliver thousands of tons of heavy weapons and arms into Ukraine from western Europe without issue; however, the western allies cannot get thousands of tons of grain and foodstuffs out of Ukraine.   I digress.  The propaganda around World War Reddit is remarkable.

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A major win for parents and school choice today in a 6-3 decision from the Supreme Court [pdf Ruling Here].  The high court ruled that Maine violated the Constitution by refusing to make public funds available for students to attend faith-based schools.  The ruling is broad and makes it clear when any state and/or local government choose to subsidize private schools or provide vouchers for school choice, they must allow families pay for religious schools.

Teachers’ unions, left-wing indoctrination institutions and the media are not happy with the Supreme Court decision.  The ruling now makes it possible for state or local school vouchers to be used for private, faith-based schools.  Those schools also have religious exemptions on the types of material and educators they allow in their education programs.

In the bigger picture the court has again affirmed ‘freedom of religion‘ not ‘freedom from religion‘.  Parents who wish their children to receive a moral and virtuous education should not be blocked by state and local politicians who promote sexualization of children, immoral conduct and alternative lifestyles for kids.  SCOTUS BLOG has background details including the dissent:

SCOTUS BLOG: – […] The dispute before the court in Carson v. Makin began as a challenge to the system that Maine uses to provide a free public education to school-aged children. In some of the state’s rural and sparsely populated areas, school districts opt not to run their own secondary schools. Instead, they choose one of two options: sending students to other public or private schools that the district designates, or paying tuition at the public or private school that each student selects. But in the latter case, state law allows government funds to be used only at schools that are nonsectarian – that is, schools that do not provide religious instruction.

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