Potential Actions By A Compromised President?

https://thenationalpulse.com/2023/07/31/mystery-chinese-biolab-discovered-in-california/

And

Fascinating study highlighting the differences between men and women in response to stress at the cellular level.

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On the assumption Biden is compromised it might explain various commissions and omissions such as:

a) allowing Chinese to buy land near sensitive installations.

b) allowing spy balloons to fly over our entire country without stopping them until the end of their flight.

c) shutting down our energy development so we would return to being energy dependent.

d) wrecking our currency so it would boost inflation.  

e) standing aside as our major cities collapse 

e) keeping our borders open so terrorists can enter and allowing Chinese drugs to continue flowing into our cities.

f) turning a blind eye to China's placing troops in Cuba

g) degrading our military in the face of China's military build up

h) supplying Ukraine with weapons while running down our own military's supplies to critically low levels.

1) placing Israel at risk while at the same time repeating they are a favored ally.

j) embracing radical progressive nonsense resulting in the decline of our social structure, education of future generations etc. 

k) turning various agencies, like the FBI, into entities threatening our freedoms etc. 

l) spending excessively so  our deficit is reaching crippling levels

m) attacking SCOTUS and encouraging the destruction of the rule of law

n)  engaging in unknown activities that are favorable to China and Russia as well as Iran 

And

This from a dear friend and fellow memo reader:

U.S. officials are now convinced Chinese malware has infected critical U.S. military "networks controlling power grids, communications systems and water supplies that feed military bases," and "could disrupt U.S. military operations in the event of a conflict.”

Given America has sunk $150 billion defense dollars into Ukraine, and given the seriousness of the Ukrainian corruption allegations made against the Bidens, every American deserves to know:

Has Joe Biden been blackmailed by Ukraine into providing so much money and attention to defeating Russia?

Has that fixation left us more vulnerable to attacks by China, our number one geopolitical foe?

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Biden/Treason/Self Enrichment. DeSantis My Candidate.

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A 4th dog got a home. Go Abby!

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My previous memo about not speaking to my family was a "spoof" on Biden and nutty Democrats. Apparently I did a poor job about conveying that fact.

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Any group that wants to rid society of police, discuss sex with 3 years old's, allow our borders to be invaded by criminals engaged in gangs and dope peddling, turn our military into a social organization, traffic in sex , teach socialism as preferable to capitalism and support a host of other anti-social philosophy, is totally antithetic to what I believe and what America is all about.

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Democrats remain in denial.  Follow the money, follow the bank deposits, follow the myriad of methods the Biden Family created to avoid detection of their money laundering schemes in which all this money was received and on which they paid no taxes because they could not report same.

What we are witnessing is the greatest  treasonous behaviour by a president who compromised himself because he wanted to enrich himself.

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DeSantis was interviewed by Bret Baier, 7/31. DeSantis answered in a direct manner and is a no nonsense Governor who did a brilliant job for his state.  Because of his outstanding military background he might be a bit stiff and disciplined but he is a very articulate fighter. Because he is all of the above, Democrats, and the mass media feel obligated to destroy him because De Santis shines against Biden..

DeSantis would make a great president and Scott would make a solid VP.

That said, I still believe Democrats, the corrupt Justice Dept.and  Prosecutor and the FBI are engaged in pathetic bullying  behaviour which, in most instances, is unconstitutional and un -American.  Yes, Trump may be his worst enemy but he and his family have been treated despicably.

Trump is not my candidate, DeSantis is my candidate. I cannot make that any clearer. Let the chips fall where they may.

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Value Line. .Believable BIBI Interview. How DeSantis Recovers? Hoover/Education Review. Strassel/Hunter.

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 I tend to concur with the Value Line economic assessment.  It is going to require a modicum of luck.

Economic and Stock Market Commentary

The consumer sector remains the main cog in the continued economic expansion. Supported by a still tight labor market, which has seen a series of weekly initial unemployment claim declines since mid-June, the U.S. consumer continues to spend, particularly on services. It should be noted that the Conference Board’s Consumer Confidence Index, which measures and compares how consumers view the overall economy, business conditions, and the labor market presently and over the next six months, climbed in July, to a two-year high.

The resiliency of the U.S. consumer has raised hopes that the Federal Reserve can orchestrate a “soft landing” for the domestic economy. That said, we have seen some red flags recently, such as lackluster June retail sales data and moderating personal expenditures in May. Then, there are concerns that mounting credit card balances financed at higher rates and the resumption of student loan repayments in September will eventually force consumers to cut back on discretionary spending.

Earnings season is again proving better than feared. True, profits for the S&P 500 companies likely fell for the third-consecutive quarter, but comparisons have surprised to the upside. Most importantly, the results from the big money center banks did not show elevated signs of stress in the financial system. This assuaged worries about any near-term banking crisis, but with interest rates still on the rise, the resultant impact on the health of the overall financial system will be scrutinized.

A recession down the road is still plausible. The Conference Board’s Leading Economic Index, which provides an early indication of significant turning points in the business cycle and where the economy is heading in the near term, has fallen sharply over the last 12 months. Meanwhile, the Treasury market yield curve remains sharply inverted, another significant indicator of tougher economic conditions ahead.

Conclusion: The equity market rally, which has been fueled, in large part, by the strength of the mega-cap stocks, has valuations looking stretched. S&P 500 companies recently traded at nearly 20 times earnings, leaving many stocks susceptible to selling on negative news. Thus, a well-diversified portfolio of high-quality companies is recommended to reduce possible near-term downside risk associated with a market trading at a heightened multiple. Please refer to the inside back cover of Selection & Opinion for our statistically based Asset Allocation Model’s current reading.

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The interview of BIBI by Mark Levine is authentic but the liberal mass media, which in Israel is less reliable than even the lies emanating from the American mass media, is insightful and indicates BIBI is seeking a modest correction in  Israel top Court's power. 

What he and his rightist coalition are seeking has been blown out of the water by the liberals who seek to overturn his government.
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Will De Santis recover his campaign?

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Christian Whiton: Ron DeSantis Will Revive the Middle Class. Here's How

DeSantis outlines economic independence from China and stronger economic growth

By CHRISTIAN WHITON

Florida Governor Ron DeSantis again distinguished himself from Donald Trump and the rest of the Republican field on Monday, advocating not only traditional conservative, free-market economic ideas like limiting taxes and regulations but also a populist and much-need fundamental reordering of the over-financialized U.S. economy that is wrecking the middle class.

The speech was billed as an economic declaration of independence and that’s what it outlined—a future free from Chinese economic domination and preachy, woke Wall Street and corporate poohbahs who see themselves as “citizens of the world” instead of Americans. It will also free us from the Green New Deal.

The American people know exactly what is going on with their country. The White House is heralding “Bidenomimcs” but the chaos that government has inflicted using the pandemic as an excuse for the most radical central planning and spending spree since the New Deal has been devastating.

Alas, according the RealClearPolitics average, only 38 percent of Americans approve of President Joe Biden’s handling of the economy. So much for Bidenomics.

According to the Institute for Supply Management, the manufacturing sector has been contracting since last October and the rest of the economy (except government) is following. Americans intuitively know that in Biden’s term of office one-fifth of their savings and purchasing power will have been wiped away permanently by inflation. Real wages have fallen even as the rich have gotten richer.

The problem goes beyond just Biden: DeSantis observed that, “The bottom half of American households have less wealth today than in 1989 while the top ten percent have added $29 trillion in wealth over the same period.” These aren’t typical Republican talking points but they reflect a troubling reality.

The basics of the middle class American dream: owning a home and building a family with kids better off than their parents is evaporating amid inflation and a oligarchic economy run by globalists.

Biden and his predecessors in the White House and their amigos in Congress have left us dangerously dependent on China, not only for most manufactured goods, but also for critical items like pharmaceuticals and their ingredients and materials needed for high-tech hardware.

Enter Ron DeSantis with a different approach.

In addition to the traditional pillars of conservative economics like cutting taxes and regulations to stimulate economic freedom and the manufacturing side of the economy, DeSantis has a plan to end the rigging of the economy to the benefit of the elite—a lamentable situation in which, as he pointed out, “gains are privatized and losses are born by taxpayers.” Who can doubt this after the recent bailout of woke-run Silicon Valley Bank?

In calling for an end to “The asymmetric relationship between the U.S. and China … characterized by China’s theft of our intellectual property, trade dumping, currency manipulation, and espionage,” DeSantis has implied that he will expand tariffs on China and implement more export controls. While he did not explicitly call for strategic decoupling from China, his program would achieve that crucial goal. He will end China’s “preferential trade status,” which necessarily implies he will undertake a reevaluation of America’s role in the globalist World Trade Organization.

Vowing to eliminate our “fourth branch of government”—unelected regulators who have come to make up the administrative state—DeSantis will embark on the greatest program of deregulation of energy and other industries in history, unleashing the potential of American business and workers who actually build things. His goals: economic growth of three percent annually or better and “a country where a family can raise children on a single income.” That will also mean a country with more kids and thriving, healthy communities.

DeSantis will stop government from pushing young Americans to incur massive debt for degrees of limited or no value, instead creating a free market in student loans that incentivizes valuable education and ends the gravy train for woke universities that preach hatred of our great country.

These and other steps that DeSantis advocated today mark a fundamental change from what has been sought by either political party. Both progressives and the Chamber of Commerce crowd will gripe about his policies and departures from orthodoxy, but his solutions will appeal to voters. He deserves credit for going into far more policy detail than the other major candidates who stick mostly to talking points and bumper-sticker prescriptions.

One other factor: DeSantis can actually enact his plan. After all, he is the man who turned Florida from purple to red, won reelection after the Covid crisis by nineteen points, and stood firm against corporate bullies and a hostile progressive media.

It’s not just DeSantis’s ideas that appeal. Plain-spoken, honest, and direct—a voice of a new generation—he alone has the skill to put his plan to the American people and enter the White House with a mandate to succeed.

Sadly, no Republican has won a majority in the national popular vote since 2004. DeSantis has the best shot of anyone to break that ignominious record, attract new voters to arrive in Washington with a mandate, and serve eight years in a successful presidency in which the American people are set free to restore their country.

Christian Whiton was a senior advisor in the George W. Bush and Trump administrations. He is a surrogate for the DeSantis campaign.

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The Hoover Institution Monthly Briefing on Education

In the July 2023 briefing on education, we explore the Hoover fellowship’s latest research and analysis in education policy.

 

Eric Hanushek reveals that K‒12 student achievement has been on the decline long before COVID-19 shutdowns; Michael Hartney explains how Catholic schools suffered no discernible learning losses during the pandemic period; and Michael Petrilli describes the recent increase in charter school funding across America.

FEATURED ANALYSIS

School Test Scores Are Down. And It Isn’t Just Because of COVID-Era Shutdowns

In an essay for The Hill, Eric Hanushek and co-author David Armor assert that no attention has been paid to the fact that there were significantly poor National Assessment of Education Progress (NAEP) scores—skewed heavily against disadvantaged students—well before schools were shut down for a year and a half beginning in early 2020.

 

Hanushek and Armor write that NAEP data shows that between 2012 and 2020, Black students lost eight points in learning in math, Hispanics lost four points, and Whites lost two points.

 

Math scores among Black 13-year-olds have dropped to lows not seen since the 1980s, and the Black-White achievement gap has widened to 42 percent.

 

“The COVID-19 shutdown is certainly a major contributor, but it is not the whole story,” the authors maintain.

 

Hanushek and Armor argue that a significant factor was Congress’s decision to dismantle the No Child Left Behind Act (NCLB) of 2001,which imposed federal accountability measures on public schools nationwide.

 

Between 1999 and 2012, Black students gained 13 points nationally compared to 12 points among Hispanics and 10 points among Whites.

 

In 2015, Congress replaced NCLB with the Every Student Succeeds Act (ESSA), diffusing authority over school accountability to the states and removing various requirements for evaluation of teachers and schools. According to Hanushek and Armor, the decline in student achievement begins with the introduction of ESSA and accelerates with COVID-19.

 

Hanushek and Armor contend that it is still possible to remedy these learning losses. Many school districts have unspent funds from federal COVID-19 relief packages. The authors assert that these funds could be invested in providing incentives for the most effective teachers to take on more students while buying out the contracts of the least effective ones. Such policies, Hanushek and Armor argue, have proven to lead to significant achievement gains.

Click here to read the entire essay.

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Hunter’s Sweetheart Plea Deal

Justice Department officials didn’t count on IRS whistleblowers or a skeptical judge.

By Kimberley A. Strassel

U.S. Attorney David Weiss is now offering to testify publicly in front of the House, and Republicans may need to book him for a week. It could take that long for the Delaware prosecutor to unwind his office’s growing list of Hunter Biden special favors, not to mention its half-truths and outright dissembling.

The latest example came Wednesday in a Wilmington courtroom, as U.S. District Judge Maryellen Noreika exposed the gaping irregularities in what the press had insisted was a routine plea deal with Hunter Biden. The Justice Department had refused to release the agreement, so it was extraordinary when the judge explained that the provisions giving Hunter a wrist-slap for tax and gun charges were “not straightforward,” “atypical,” without legal precedent and potentially unconstitutional. Not only does the Justice Department stand accused of treating the young Mr. Biden with kid gloves; a federal judge now says the president’s son received a sweetheart plea deal like no other.

This included Hunter’s deal related to his gun offense, in which the charge would be dropped so long as Hunter didn’t use drugs or own a firearm for two years in a diversion program. In normal cases, Justice Department personnel would decide whether terms had been violated. But Hunter’s team, worried that a future Republican administration would get to make that call, netted a unique deal that put the judge in charge of the question. Defense lawyer Chris Clark acknowledged this was a special proviso for Hunter, given the controversy surrounding the case and the potential for a “politicized” decision down the road. Yet Judge Noreika said the perk was so unusual as to be potentially unconstitutional, as it essentially granted her prosecutorial powers that belong to the executive branch.

The judge was also taken aback by a deal that was structured to require her to “rubber stamp” pretty much all of it—stripping out a judge’s usual ability to modify or reject provisions. How many defendants cajole their prosecutors into attempting to insulate them from a judge’s oversight? Not many who aren’t named Biden.

But the big moment came when Judge Noreika asked about a curious immunity clause that would appear to shield Hunter from additional charges tied to the conduct described in the plea agreement. She asked if he might still face prosecution for, say, a violation of the Foreign Agents Registration Act. Mr. Weiss’s team—having publicly claimed that its investigation is “ongoing”—clearly felt it had no choice but to acknowledge he might. This shocked Hunter’s defense team, which objected. Things fell apart from there.

Blame this mess, yet again, on prosecutors. There’s good reason to believe the Team Hunter surprise about immunity was legit. What defense lawyer allows his client to sign a plea deal—to negotiate away any leverage—knowing that even tougher charges may still come? Whatever its public statements, Mr. Weiss’s office had clearly led Hunter’s team to believe the probe was wrapped up. Judge Noreika’s demand for legal clarity looks to have exposed a wink-nod deal.

The claim of an “ongoing investigation” has been highly convenient for the Delaware U.S. attorney. It allows the Justice Department to keep dodging congressional questions about the investigation of Hunter’s business activity—since officials claim they can’t talk about active probes. The need for such stonewalling has grown more acute now that two Internal Revenue Service whistleblowers have provided detailed testimony on the irregularities of the investigation. It’s so acute that the Weiss team decided that maintaining the claim of a continuing probe was worth the risk of jettisoning whatever handshake immunity agreement they had made with Hunter’s team.

Yet with the deal now in limbo, Mr. Weiss has an even bigger mess. Judge Noreika instructed the parties to return in several weeks with clarity on her role and details about Hunter’s risk of further prosecution. This gives Republicans more time to inform the judge about problems with the investigation. It’s also entirely possible that Hunter’s team won’t agree to any revised provisions that treat their client like other mere mortals.

The Justice Department on Monday offered to make Mr. Weiss available for public testimony in front of the House Judiciary Committee on specific dates in September and October. The letter was sent on the presumption that the Hunter plea deal would by then be done and dusted, which would have allowed Mr. Weiss to speak to this settled “justice” while artfully dodging questions about live issues. Now the Hunter deal remains open, its special perks in focus, and Mr. Weiss is under pressure to give the court even more ugly details.

In short, the Justice Department has been caught playing games—and has no good answers. That’s because it never expected to have to give any. The Hunter deal was always premised on the notion that nobody would see the sausage. The Justice Department would release the bare bones of an agreement, the press would infuse it with credibility, and the judge would sign off. It didn’t count on two whistleblowers providing evidence of political favoritism, or on a court that questions why prosecutors are acting as a Hunter favor factory.

All the more reason for House Republicans to double down on their own investigation. Lady Justice isn’t operating blind.

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Daughter Abby Loves Placing Rescue Dogs. Hunter A Disaster. Ross Rant. Hunter/CCP Money. Change.

We just walked in (Sun 7/30) Abby had a marketing program, great music, Italian ice cream and food all for the purpose of placing rescue dogs. She was able to place three. July happened to be hot as hell so those attending were less than expected and they could not bring out the smaller dogs due to the heat so I am sure both those facts were to blame for what she hoped to accomplish.

Abby and the entire Nelson family are  dog lovers and have two rescue dogs as part of their family. The picture shows Dagny hugging a 6 yr old Great Dane who found a home.

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A good-looking man walked into an agent's office in Hollywood and said, "I want to be a movie star." Tall, handsome and with experience on Broadway, he had the right credentials.

The agent asked, "What's your name?"

The guy said, "My name is Penis van Lesbian."

The agent said, "Sir, I hate to tell you, but in order to get into

Hollywood , you are going to have to change your name."

"I will NOT change my name! The van Lesbian name is centuries old. I will not disrespect my grandfather by changing my name. Not ever."

The agent said, "Sir, I have worked in Hollywood for years.. you will NEVER go far in Hollywood with a name like Penis van Lesbian! 

I'm telling you;  you will HAVE TO change your name or I will not be able to represent you."

"So be it! I guess we will not do business together" the guy said, and he left the agent's office.

FIVE YEARS LATER..... The agent opens an envelope sent to his office. Inside the envelope is a letter and a check for $50,000. The agent is awe-struck, who would possibly send him $ 50,000? He reads the letter enclosed...

"Dear Sir, Five years ago, I came into your office wanting to become an actor in Hollywood , you told me I needed to change my name. Determined to make it with my God-given birth name, I refused. You told me I would never make it in Hollywood with a name like Penis van Lesbian. After I left your office, I thought about what you said. I decided you were right. I had to change my name. I had too much pride to return to your office, so I signed with another agent. I would never have made it without changing my name, so the enclosed check is a token of my appreciation.

Thank you for your advice..

Sincerely,

Dick van Dyke

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Hunter Biden Is a Geopolitical Disaster

His Ukraine dealings corrupted our government, impeached a president, and may have prefigured a war.

Holman W. Jenkins, Jr.

It was a wild roll of the dice by Hunter Biden and government prosecutors to hope a judge wouldn’t ask if their plea agreement precluded further charges and therefore ended the investigation. But of course the judge had to ask. In announcing the deal in June, the Justice Department plainly stated the investigation was continuing while Hunter’s lawyer plainly insisted on an “understanding that the five-year investigation into Hunter is resolved.”

David Weiss, the U.S. attorney for Delaware, arguably had to speak as he did at the time. If the investigation were over, he and his boss, U.S. Attorney General Merrick Garland, couldn’t avoid questions from a Republican-controlled House about ignored evidence, etc. Add another question now: While saying something else to the public, did the Justice Department sotto voce promise Hunter that no more charges would be considered?

My view is that Joe Biden has been coldly ruthless in embracing and defending his son in his own interest, and will be just as ruthless in throwing Hunter under the bus if necessary.

 

Hunter is not less ruthless in dealing with his dad. When Hunter’s lawyer threatened to walk away from a plea deal that didn’t close the investigation, he was throwing down a gauntlet before Mr. Biden and his attorney general that Hunter has spent his life throwing down to his father. To state the obvious example, President Obama assigned Vice President Biden to be his point man on Ukrainian corruption. Hunter thereupon took a do-nothing job with a notorious Ukrainian oligarch and essentially dared his father to stop him. As public testimony and news reporting have established, not only did Mr. Biden decline to intervene when State Department officials brought the problem to him, he engaged in an emotional outburst that made them unwilling to bring it up again.

Joe’s ridiculous peril may yet push him out of the presidential race. The bottomless self-abasement of his spokespeople is evident in their recent, studied language adjustment. From Joe “never discussed” Hunter’s international business dealings with him, they now claim Joe was never “in business” with Hunter.

This high-wire act has zero chance of success without a deliberate and voluntary decision of news organizations to pretend they don’t see what’s before their eyes. Don’t put it past them.

But this will only get Mr. Biden through November 2024 unless Democrats also win back the House and retain control of the Senate.

Mr. Biden was unlucky in his son, but he also allowed a family environment in which milking connection to Joe was de rigueur. Paralysis seizes our elite over what has ensued. Suppose a journalistic tick-tock were written today similar to 1969’s “On Borrowed Time,” Leonard Mosley’s microscopic account of events between the Munich Agreement of September 1938 and the invasion of Poland in September 1939. Today’s version would include: Hunter’s dealings in Ukraine, President Trump’s impeachment for asking about Hunter’s dealings in Ukraine, the laptop episode in which Russia was framed as an imaginary culprit to change the subject from Hunter’s dealings in Ukraine.

What did Vladimir Putin make of these events? How might they have figured in his bet that the U.S. would let Kyiv fall into his pocket? Maybe one day he’ll tell us.

Mr. Biden ultimately summoned the NATO muscle memory to stand up to Russia’s invasion, and this column congratulated him. But Republicans in an election year can rightly ask what else exactly was an American president supposed to do? They can also ask what Mr. Biden failed to do. His surrender on Nord Stream 2, after Mr. Trump quashed the pipeline, sent a message of appeasement. In the war’s opening days, his administration seemed unduly eager to cede Kyiv to the Russian advance and spirit President Zelensky to safety.

At some point, questions should also be asked of Barack Obama. Why allow Mr. Biden to control the Ukraine portfolio when he wouldn’t restrain his son? Was Biden family corruption the reason you skipped over your veep and endorsed Hillary Clinton in 2016?

The story here is all the more remarkable for being untold. In short order, the Hunter mess has managed to taint our intelligence community, the FBI, IRS and now the Justice Department. If news sense is not completely dulled by neurotic compliance, some editors must also be starting to see the outlines of another approaching debacle, in which skeletons from the Biden closet elect Mr. Trump.

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Ross Rant July 26

The good news is that so far the recession has not happened, and the economy seems to be growing, although very slowly. The bad news is the recession has not yet hit and the economy is still growing. As a result, inflation continues to rise. Oil inventories

 are extremely low, and there is no hope they will recover given the restraints the administration has put on. Rig counts are down 15% from 2022levels. IEA projects demand will be up 2.4 million barrels per day. The projection is a 2 million barrels per day deficit. No new refineries are being built now, so refined products-gasoline- will be in shorter and shorter supply as people are traveling a lot more. Now Biden just issued an order severely restricting drilling in the gulf, thereby materially reducing the possible production in the US. Goldman just raised its forecast for Brent to $86 by yearend. It is already at $83. That means WTI is going over $80 and going higher. If the economy continues to grow even slowly, and if China increases fiscal stimulus, oil prices will rise further. Oil stocks up from here. It took awhile, but my prediction of higher oil prices and higher stock prices for oil companies has arrived.

Standby for the coming correction in stocks. This latest bull run is due for reversal.  It is just a matter of when. It may be very soon. Total assets at banks are declining, which means fewer loans being made which means growth is slowing. The new PMI in Germany and the EU is poor, 47.4 and the UK is 45. That means the EU and UK are in real slowdown. China is in a major slowdown. The earnings yields on many stocks are too high. Inflation is returning with oil, wheat, housing, rents and wages, all moving higher. Gold is moving higher, which is counter to the norm which is when the dollar arises gold declines, except not now, which suggests a lot of investors are worried. Funds are flowing into the US now because investors elsewhere are very worried about where things are  headed. What all of this means is the stock market is setting up for a fall, and it could possibly be material. Most Wall St prognosticators have raised their year-end forecast for the S&P. I remain negative. This latest run up makes no sense to me, and seems to be driven by FOMO as opposed to fundamentals, and I am a fundamentals investor. All of the top investors I talk to almost daily or weekly believe we are in for a decline soon. I own a lot of short term Treasuries and oil.

Unless Putin relents, food prices will be rising again very soon as much higher wheat prices pass through the production cycle. So all of these things together mean inflation is going back up and soon. So, then rates continue going up, fewer existing homes go on the market, home prices rise further. Fewer people can afford to buy as prices rise and rates rise, so more of the excess multifamily and single family home rental inventory gets occupied, rents go up. Take all this together and inflation goes back up.

 The stock market goes back down by fall when the Fed raises again in September and is still hawkish. The chance of recession then remains-just delayed. What also possibly continues is, as the Street gets more optimistic and more money comes into equities, the PEs get much too high and the drop in stock prices could potentially be bigger than expected.  It is unclear to me when, or if, this will playout this way, but I believe it is very possible. The market has surprised me and most of my top investor friends,

 so we will just have to wait to see what happens. I am still happy buying short term Treasuries and making 5.4% for now.  The AI stock FOMO surge may be ending as investors take profits, and as they realize PEs have gotten too high too fast. However, long term, there is no question companies like MSFT and APPL will continue to thrive. There is the normal rush by many companies to claim they are the latest fad, AI, and their stocks ran up. This will end badly for some, just as it did with computers, and other fad rushes in the stock market. Semis are also in for a fall as there is over capacity. Pay attention, the CEO of Moderna is a continued big seller of shares. He knows they have lots of research announcements, but no real products yet.

Just to add to the inflation push back up is the trend toward more strikes for higher wages.  Biden uses every chance he gets to push for unions, and that just will encourage all of them to strike and push wages higher. This trend is just getting underway so there will be a likely string of high wage increases yet to come. More inflation pressure.

Major office REITs are not sitting around and waiting for doom. SLG is selling off parts of their ownership in buildings and selling other assets. They are delevering in a major way. Some funds like Blackstone are just giving back the keys on a few large buildings.

 Office occupancy is rising a little as companies are realizing remote work is not as effective as  face to face collaboration. I think you will see more people back in the office at least 3 days a week, and maybe over time that will morph to four or 5 again.

 In summary, some office owners are taking steps now to mitigate the debt maturity problem, and others are just going to get stuck with maturing debt issues.  Unlike 2008-9 which was a sudden collapse of the whole financial system, this time everyone is well aware of the coming problems, and many will have time to work it out, or just give back the keys.  This is not to suggest there will not be major issues with maturing debt on CRE, but it will likely not be the major banking crisis that many are predicting.

 It is evolving slowly, and that means there will be time for lenders and owners to try to find solutions before the ax falls. Many assets will go back to servicers and lenders, and they will get bought at deep discounts if they are basically good buildings.

 That does not solve the B&C office building crisis that is coming. 

There will be a substantial consolidation in the banking industry as it is ridiculous to have 4500 banks when no other nation has anything like that number.  With online check deposit and bill paying, and national mortgage lenders, and all sorts of online financial services from a variety of providers, and more costly regulation, small banks will wither, and in a few years there will be larger regionals and eventually thousands fewer banks. It is highly unlikely we will have a repeat of March, with several large banks going under all at once. I would not be a investor in a small bank now.  JPM, Citi, B of A and Wells can offer all sorts of services and deposit taking online or through their own branch network, so the small, and even midsized banks will have a hard time  competing. Here in my little Hamptons village there is a JPM branch, well staffed with very helpful and knowledgeable local people who can help with whatever service I need, so why would I want to deal with a small bank. The same was true on Longboat Key where there was a JPM branch. With JPMI have no concerns about the bank closing and my deposits getting hung up, or being limited in size. Modern day banking is totally different than even a few years ago. My Schwab bank account is also readily accessible and safe, and all online, and tied to my stock accounts making it easy to conduct business. The advent of online banking and bill paying, and stock trading changed everything. And now we can seek out the best rate on deposits or CD’s or Treasuries while sitting at home.

 Now the post office has suggested not using checks any more due to the rash of mail box theft and check fraud. When was the last time you used a savings book when you went to the bank

It is impossible to know what is really happening with the Ukrainian offensive.  It is going much more slowly than they hoped for the reasons I sighted weeks ago, largely because Biden has not approved the F-16s and has slow walked tanks and other weapons. 

 The defense lines of the Russians are almost impossible to breach given the hundreds of thousands of mines backed up by artillery, trenches, and other obstacles. The Russians can keep pouring fighters into the front lines as they do not care how many die so long as the lines hold. It is now just like WWI where tens of thousands of young men will get slaughtered, and their leaders do not care. Based on history, the Russians will just keep this up for months or even years. It is how they have always fought and often lost. As a result enormous sums will be spent by us and the EU supplying the Ukrainians, and the Russian economy will falter. There are no winners in these wars. Tens of billions are being thrown at the war by all sides which would have had much better productive uses. I am not suggesting we should stop supporting Ukraine, we have no choice but to continue, but economic growth for the world will be much less than it may have been. In the end, Russia will be an economic disaster. What comes next for Russia when the war finally ends, is very possibly a new set of leaders just like after WWI. It is impossible to know exactly, but with history as a guide, there will be great changes at some point. That will have ramifications for China as they watch this play out and as their economy withers. It is possible the Chinese realize that these small wars can hold the potential for really bad outcomes. That is why this is not about Ukraine, but it is about what does the world look like intwo or three years. Putin may be gone,

 XI could be gone. Then what?

After WWI the Germans secretly made agreements with the Russians, their great enemy, and rebuilt their military inside Russia by transferring arms production and pilot and troop training there while all the time preparing to fight WWII. Hitler just took over what was really already going on inside the military all those years after WWI, and especially after 1925. That is how they rebuilt their military in secret, in violation of the Versailles Treaty. What you likely are not aware of is Germany would have launched WWII into Poland even if Hitler never had existed. They began that planning immediately after 1918, and got fully underway in 1925 on training and secretly rearming for the war, almost all inside Russia. Well before Hitler came to power. Had Hitler not decided to attack Russia, the world might be a very different place. The Russians have been in these wars for centuries, and that is their history. Will they change after Ukraine. Maybe. Will Xi’s successor revert back to economic private sector growth, maybe. Or maybe not. The good news is, it seems the Chinese are very smart, and many seem to realize that a real war will destroy the economy they have created, but Xi may not be in the same place.  He is focused on political control and not the economy. Maybe they build a massive military, but just stay with their history, and use it to protect the kingdom. There is no way to really know. Itis possible Ukraine brought home to China the realization that a shooting war is a loser, and conquering Taiwan will not be easy, and could potentially drag in Japan and maybe even S Korea.   For the moment Xi has total control and is focused on political control, not the economy.

There are small shifts happening in the polls that suggest Trump may have peaked. Heis now below 50% and dropping as Tim Scott rises. People are getting more fed up with the personality, and the chaos that surrounds him. There is a shift right slowly happening which Bud and Disney have made apparent. The teachers union just held a conference, and they are putting out a teachers guide to push all this trans and LGBTQ ideology, and that is setting off a wave of counterreaction from Moms. The Dems did not learn their lesson in VA. Do not get momma bear riled up about their kids, or you will pay a big price. The push by the left for encouraging trans surgery on kids is causing many to be disgusted.  If the Republicans would switch their policy to 15 weeks on abortion, and make that a major plank, they could own the female vote in many places. Abortion will be one of the keys to the 2024 election, but so far the Republicans are too locked into their total anti-abortion ideology. They are being as stupid about abortion as the Dems are about trans and LBGTQ. Compromise to maximum 15 weeks, and no abortion after that, other than for the usual reasons, is a massive winner, and has been adopted by the major Evangelical groups as an anti-abortion position as it then prevents later term abortion. I have spoken to several well-known people who are strongly against abortion, but who realize they cannot prevent it, and that reasonable compromise is required, or the far left will control the elections. They understand there is no way to stop abortions, especially with the pill procedure, so it is far better to prevent abortion on demand any time like in Dem run states, or the outrageous law in CA which is even post birth. So far only Tim Scott has recognized the reality of the issue and has publicly gone to15 weeks after we convinced him to change. We failed to convince DeSantis despite a major direct effort to do so. I continue to believe Scott could be the dark horse nobody expected as Trump and DeSantis fade. Or, No Labels can come with a good slate and common sense policies, and end up winning from the middle. The election is up for grabs right now.

The Kerry meetings in China finally proved the truth. China, India and smaller Asian nations are going to focus on producing what is really required to have a strong economy-cheap energy in abundance, and that can only be produced by fossil and nuclear. They understand what the western idiots do not, cheap and abundant energy raises production and standards of living, and alternative energy will not be sufficient to meet the demands of the digital society the world is creating. You cannot grow a successful economy with alternative energy sources. You need adequate reliable low cost energy, or  you cannot grow your economy, and you cannot stay in power. The other truth is, the environmental damage caused by all the mining required to have alternative energy and EVs is as bad as, or worse, than fossil. The human cost to the workers who mine these minerals is horrendous, with much child labor and near slavery conditions. Producing oil and gas is vastly cleaner than mining and processing key minerals. Fossil energy allowed the whole world to raise their standards of living  tremendously over the past 100 years, and brought billions out of poverty. The focus on electric cars and equipment, and now even weapons, is total unreality and insanity.

The use of government pressure and subsidies to force the shift is going to prove to be a disaster financially as deficits rise, and as the interest cost to service that debt is so burdensome as to push out spending for truly useful or required needs. The dependence on China for the key minerals is a national security crisis, and is deeply impacting foreign policy, just as the dependence on the Mideast for oil once created ongoing crises years ago.  Now the climate change religion has taken over clear and rational thought across the western world, and it will have bad consequences geopolitically for the US. Even after the trillions already spent on the nonsense, the global temperature is only up a tiny bit, and that might be from natural events. It has made no real difference at all. But it has made many people rich as they suck off the subsidy fountain of your money. Modern economies cannot live without decades more of fossil, and trying to regulate it to death is just raising the cost and helping fuel inflation which in turn lowers the standard of living for everyone else. It is the true ramifications of these government actions that the left never wants to consider. As Solyndra showed, and as Reagan proclaimed when Jobs introduced Apple computers, leaving things to the private market is always the best solution. Get the government out of the way. Unfortunately, the White House believes industrial policy as dictated by government is how to proceed. It will lead to terrible outcomes as it has everywhere else it has been tried. It was why the Chinese let private entrepreneurs thrive. Now they have announced a new effort to bolster private enterprise at the same time Biden has pushed for more government directed industrial policies. The Chinese government provided the infrastructure to facilitate that. The Chinese recognize the ramifications of what they are doing, and are willing to trade dirtier air for economic growth and stability. That might be bad policy, but at least they understand what they are doing. Western governments and media seem to have no understanding at all. I am sure all of them will say the heat wave this year is global warming, but it might really be the Milankovitch theory plus the wildfires and El Nino, and the tilt of the earth axis, none of which has anything to do with man or climate change. I don’t know the science, but my friend Mark Mills does, and you should read his books and papers to get the true story. He is recognized as the world’s leading true expert on all things like EVs and mining capacity, and related topics, and I can tell you my private conversations with him are like going to a PhD class with very understandable explanations.  He is incredibly smart and has the real data he has developed himself, not the massaged data from woke sources and governments.

The Dems will have an open convention and Newsome, or Michelle or someone else will be the candidate, not Biden. Harris has been offered millions by some wealthy Wall St investors to go quietly into the sunset, but she turned it down. The Dems know they are in real trouble which is why they are trying very hard to kill off No Labels. This election will be very chaotic and historic. Trump may not be the candidate either. Maybe Biden resigns late in 24 and Kamala pardons him.

The nominated general for Chairman of the Joint Chiefs says his focus is on DEI, and he has set quotas for how many whites, blacks and Latinos to be pilots in the air force, which is patently illegal, especially in light of the SCOTUS decision. So we are short of pilots and they are taking less qualified candidates under new admission rules just so there can be more “diversity” as opposed to quality. So now we have moved to the lowest common denominator of quality pilots just to meet racial quotas.   This is the exact same thing as universities have been doing in the name of the same illegal diversity goal. The end result is going to be a less qualified air force, and the difference is now people’s lives and national security are at greater risk. Do you want your wingman to be a diversity admit when in a dogfight with Chinese pilots, or do you want the best pilot.  Hopefully they will vote no on his selection. This is more of the woke ideology dragging down everything -pilots, doctors, lawyers and whatever else.

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Hunter Biden Admits Receiving Money From Chinese CCP-Linked Company
By Tom Ozimek

Hunter Biden admitted in court during his failed plea deal hearing on Wednesday that he received over half a million dollars from a company with links to the Chinese Communist Party (CCP), appearing to contradict President Joe Biden's earlier claim that no one in the Biden family made any "money from China."

According to a court transcript (pdf) obtained by The Epoch Times, U.S. attorney for the District of Delaware, David Weiss, read out an exhibit in court indicating that Hunter Biden earned $664,000 from a "Chinese infrastructure investment company."

The presiding judge, U.S. District Judge Maryellen Noreika, would later seek clarification about that company.

"$664,000 from a Chinese infrastructure investment company. Is that one of the companies we've already talked about?" she asked.

"I believe so," Mr. Biden replied.

"Which one is that?" the judge asked.

"I believe CEFC," the president's son answered.

CEFC is a CCP-linked Chinese energy company. It was founded by Ye Jianming, whom Hunter Biden told the judge was the individual he co-founded the firm Hudson West with in 2017.

"Who was your partner?" the judge asked.

"I don't know how to spell his name; Ye Jianming is the chairman of that company," which Mr. Biden said is no longer in existence.

Hunter Biden's remarks in the Delaware court appear to contradict the president's earlier denials.

"My son has not made money in terms of this thing about, what are you talking about, China," Mr. Biden told then-President Donald Trump during a televised debate in October 2020.

"The only guy who made money from China is this guy," Mr. Biden said at the time, referring to Mr. Trump. "He’s the only one. Nobody else has made money from China."

The White House did not immediately respond to a request for comment on the apparent contradiction.

CEFC has been in the crosshairs a number of times before, most recently as part of an IRS whistleblower’s redacted testimony (pdf) before the House Ways and Means Committee.

The whistleblower disclosed WhatsApp messages indicating that Hunter Biden demanded $10 million from CEFC, promising services from "the Bidens" in return.

The Epoch Times reached out to Hunter Biden's attorney following the disclosure of the alleged demand for $10 million from CEFC but did not receive a reply.

Separate revelations from Hunter Biden's former business partner Tony Bobulinski suggested that Mr. Biden enjoyed a cozy relationship with Ye Jianming.

Further, a report from a Republican-led Senate probe of Hunter Biden’s business dealings found that he had conducted business with multiple Chinese nationals linked to the CCP, including Mr. Ye.

According to the report (pdf), just days after Mr. Biden’s WhatsApp exchange with a CEFC executive, the company Hudson West received a wire of $5 million from CEFC.

Also, subpoenaed records obtained by the House Oversight Committee indicate that members of the Biden family in 2017 received over $1 million in payments from accounts related to Hunter Biden's business associate Rob Walker and their Chinese business ventures.

At the time, a spokesperson for Hunter Biden's legal team confirmed to Fox News that the payment had taken place, but stressed that the accounts "belonged to Hunter, his uncle and Hallie–nobody else," referring to Hallie Biden, widow of the president's deceased son Beau.

Mr. Walker worked with Hunter Biden, Mr. Bobulinski, President Joe Biden’s brother James Biden—as well as the CEFC's Mr. Ye—in an incorporated joint venture in Delaware in 2017, according to corporate documents obtained by The Epoch Times in late 2020.

Probe Into Biden Family Business Dealings
Hunter Biden's admission in court on July 26 that he received money from CEFC and that his business partner was the firm's chairman comes as House Republicans continue to probe the Biden family's overseas business dealings, arguing that there are possible national security implications to payments from foreign nationals.

A spokesperson for the White House said earlier that the Oversight Committee's probe into the Biden family is a waste of time and accused Republicans of engaging in a politically motivated investigation.

A spokesperson for the House Oversight Committee said at the time that questions need to be answered about the Biden family's business dealings and that the panel is "investigating how the Biden family benefited from influence peddling and if President Biden is compromised by his family's business transactions with foreign adversaries."

Meanwhile, during the July 26 hearing in Delaware, the judge refused to accept Hunter Biden's plea deal, which Republicans had criticized as too lenient.

The unraveling of the deal led to Mr. Biden entering a not guilty plea, setting the stage for a revised plea agreement in the future as the judge gave both sides 30 days to file briefs addressing her concerns.

Hunter Biden was on track to plead guilty to misdemeanor charges for failing to pay taxes and agree to a so-called diversion agreement that would allow him to avoid prosecution on a gun charge.

This should be enough to disqualify Biden from ever holding office anywhere in this country again.

Considering a US Senator makes $175,000 a year it is inconceivable that Joe Biden amassed his fortune by frugally saving his paycheck.
His corruption runs deep.

Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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Democrats love change and prefer it over logic. When radicals say something that evokes change liberals rush to embrace it.

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Bibi Pressed. Deal Implodes. Our Pathetic V.P. All Very Private .

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BIBI is under tremendous pressure but he is correct when he asserts protesting reservists will serve if circumstances demand because they love their country. That said, their actions are sending a message to Israel's enemies that could be misinterpreted.

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 Netanyahu to CNN: Supreme Court overturning judicial reform? I hope we don't get to that

Prime Minister speaks to Wolf Blitzer, refuses to say if he would abide by any Supreme Court ruling striking down the law limiting the use of the judicial reasonableness standard.

Prime Minister Benjamin Netanyahu spoke to CNN’s Wolf Blitzer on Thursday and refused to say if he would abide by any potential Supreme Court ruling striking down the law limiting the use of the judicial reasonableness standard.

“What you’re talking about is a situation, or potential situation, where in American terms, the United States’ Supreme Court would take a constitutional amendment and say that it’s unconstitutional. That’s the kind of the kind of spiral that you’re talking about, and I hope we don’t get to that,” Netanyahu said, warning that the country could enter “uncharted territory.”

Asked if he was expecting consequences from the United States for the bill’s passing, Netanyahu stressed that relations remained strong between the Biden White House and his government.

“Look, we’re both interested in blocking Iran. We’re both interested in advancing peace. This is the reason I came back to serving for the sixth time as Israel’s Prime Minister. I think those goals are achievable, and they’re going to be achieved together between Israel and the United States. I think that will strengthen our alliances, not weaken,” Netanyahu told Blitzer.

Pointing to debate in the US over its own Supreme Court, the Prime Minister said, “You have an internal debate in the United States right now, about the powers of the Supreme Court about whether it’s abusing its power, whether you should curtail it.”

“Does that make the American democracy not a democracy? Does that make that debate unworthy? Does that make that issue, a symbol of the fact that you’re moving to some dictatorship personally?” he continued.

“We don’t want a subservient court. We want an independent court, not an all powerful court and that’s the correction that we’re doing,” Netanyahu explained to Blitzer, though he also acknowledged that the bill had sparked “a big debate.”

“I don’t want to minimize it. I also don’t want to minimize the concerns that people have, because many of them have been caught in this spiral of fear,” he said, stressing, “Israel is going to remain a democracy.”

In a separate interview with ABC earlier on Thursday, Netanyahu defended the government's planned judicial reform, calling it a "minor correction" to Israel's activist court.

"We had to restore Israeli democracy to its position on par with other democracies. The essence of democracy is the balance between the will of the majority and the rights of the minority, and this is achieved through the principle of separation of powers. This balance has been violated during the last 20 years, because we have the most activist court on Earth," he said.

"I pressed the 'stop' button for three months to get some sort of compromise from the opposition and I didn't get it from them. I don't think the arguments are real, but I think the concerns are real, because people are afraid. I understand them," Netanyahu added.

Later in the interview, the Prime Minister stated that US President Joe Biden has invited him to the White House for a meeting this fall, possibly as early as September.

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The attorney's for Hunter over reached and an honest and alert judge saw what they were trying to sneak through and called a halt.

The current Justice Dept has been dragging the case because they want to allow the statute of limits to kill any charges and appointing an independent prosecutor would allow the Justice Dept. to do just that so the current prosecutor, if he is legit, should bring charges immediately so as to buy time for further investigation.   

And:

Hunter Biden’s Plea Deal Implodes

A wrist slap that was supposed to end the scandal backfires in federal court.

By The Editorial Board

The plea deal between federal prosecutors and Hunter Biden has always looked fishy, and on Wednesday it was exposed in court. The legal fireworks make it harder to ignore fundamental questions about the integrity of the five-year investigation.

America's Broken Immigration Laws Go to Court, Again

Federal Judge Maryellen Noreika didn’t reject the wrist-slap plea bargain outright, but she asked prosecutors and defense attorneys to clarify the terms of the deal on gun and tax charges. It says something that the deal collapsed under the most basic questions.

The June 20 plea never made sense except as a way to disguise and bury the political embarrassment of Hunter’s business shenanigans. The two misdemeanor tax charges and the deferred felony gun count could have been brought in the first few months of the investigation. Judge Noreika zeroed in on the diversion agreement on the gun count, which spared Mr. Biden jail time and would mean he would not be charged if he met certain conditions.

The critical point came when the judge asked if the deal meant Hunter could still be prosecuted on other charges, such as violations of the Foreign Agents Registration Act. Prosecutor Leo Wise said he could. Defense attorney Chris Clark said that wasn’t his understanding. If the plea didn’t give his client such immunity, then there’s no deal, said Mr. Clark.

The hearing featured multiple recesses in which the prosecution and defense tried to clarify the terms of a revised deal. Judge Noreika said she felt that “you are telling me to rubber stamp the agreement.” In the end Hunter pleaded not guilty to the tax charges, and the judge gave the lawyers 30 days to provide further briefings before she reaches a decision.

Courtroom drama aside, the big issue isn’t whether any plea deal is too tough or lenient. The question hovering over the plea is whether Joe Biden was also in on his son’s sleazy influence-peddling. Is the President the “big guy” famously mentioned in an email to Hunter from one of his business partners?

The press has given the President a pass on his repeated claims that he knew nothing about Hunter’s business, and the White House continues to stonewall. Shortly after the hearing, press secretary Karine Jean-Pierre refused to clarify whether her new official line—that “the President was never in business with his son”—was a change from his many previous public claims that he never even discussed his son’s overseas business dealings with him.

No doubt the change in the official line reflects White House recognition of the growing evidence that contradicts Mr. Biden’s earlier statements. Americans may learn even more next week, when his son’s former business associate, Devon Archer, is scheduled to testify behind closed doors to the House Oversight Committee about then-Vice President Biden’s attendance at dinners and talks on speakerphone with Hunter’s foreign business associates.

Voters may not care much about the shady dealings of a dissolute son. But they will care if President Biden is shown to have lied about his knowledge of his son’s multi-million-dollar payments to Biden family members—and if Mr. Biden’s Justice Department blocked IRS and FBI investigators from learning the truth.

Finally:

Predicting election results has left a lot of genius reporters with egg on their face.  The NYT's suffered with their prediction of Truman's defeat.  I believe we may be seeing the same thing happening because they are underplaying the effect of the bullying Trump has been experiencing for well over 7 plus years. 

I have consistently acknowledged Trump is his own worst enemy but Democrats have engaged in serious overkill.

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Our pathetic Vice President either does not understand English or is purposely weaponizing Florida's new history curriculum.  Actually it is a compliment that some slaves had the ability, under the worst of circumstances, to learn skills.  It is called "entrepreneurship."  

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The Snow White House press spokesperson proclaims Hunter 's situation is a private one and thus, she does not need to respond to questions. Yet, he is driven to the court house in Government Cars, is protected by The Secret Service in more ways than one, attends  State Dinners, flies with his father in government planes, apparently leaves his cocaine in the nation's home and so it goes.

Not only do " We The People" pay for his private life as he rehabilitates but we are excluded by government protectors, whose salaries we pay, from explanations of what is occurring.   

As the investigation of corruption brings forth more evidence and witnesses, the mass media will eventually be hard pressed to remain silent. Eventually the snow will melt and I suspect "The Big Man" will have some serious decisions to make like Nixon did so stay tuned.

Meanwhile:

Mini Madoff \'s charges have been dropped.

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Facts "Shifty Schff," Hakeem Jeffries and other radical Democrats continue to be in denial. They need to hear and/or read revealing documents that are readily available on Sen. Grassley and other's web pages.

FITTON & Devin Nunes: Biden In Deep with Russians!


 

Judicial Watch President Tom Fitton appeared on "Devin Nunes Unplugged" to discuss Biden family corruption and much more. 

 

Judicial Watch President Tom Fitton appeared on "Devin Nunes Unplugged" to discuss Biden family corruption and much more. 

Finally:

Here's Why Joe Biden Can't Pardon His Son

By Matt Vespa

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