The Morning Report — 8/6/24

Good Morning Kids. Sure the horrendous jobs report is nothing to gloss over. But with trillions in monopoly money dumped into the economy over the past several years, along with massive borrowing and on top of it, a welfare state and open borders, and the decision to destroy a major foundation of the traditional American economic miracle, the petrochemical industry, is it any wonder that the markets in Japan and elsewhere are tanking right now with the prospect of Kamala Harris being given the car keys, or bus keys to an exploding electric bus. Yes, the epicenter of the current tanking is Japan but the ripple effect is immediate. Ironic that today is Hiroshima anniversary day.

For the last three years, it has felt as if markets were waiting for the other shoe to drop. Today, many believe that it has finally done so. Japanese markets crashed on Friday, and even more on Monday; the Topix plummeted 13 percent, a drop not seen since 1987. Global markets followed suit. One might write this off as just another day of volatility. The worry, though, is that this is something much worse: the start of a bear market and a long-feared recession. It’s too soon to tell; markets have been jittery for a long time. But the turmoil does show that we have become over-reliant on monetary policy as the solution to our economic problems.

Since the pandemic, markets had risen—a lot. The S&P 500 was up, just last week, 133 percent from its pandemic lows. Its strength mainly owed to the Magnificent Seven tech stocks. Even if you think that artificial intelligence will be the greatest thing ever to happen to the United States economy, such high valuations this early in the innovation cycle are hard to justify. It also seemed unlikely that inflation would be defeated without a significant slowdown; a soft landing had never happened before.

Despite all these concerns, markets mostly kept climbing, and the economy remained strong, though it never felt completely secure. A recession always seemed in the offing, once something finally broke. Perhaps it has now.

Still, the great Milton Friedman was right, you cannot have a welfare state and open borders. Yet, as I touched upon at the outset, that's just the tip of the iceberg of radical egalitarian socialism/communism whose home is the anti-American Left and Democrat party, and businesses that go along to get along.

Why do our Democratic friends keep wrecking the economy?

It all comes down to the binary of gifting your supporters and going to war against the enemy. So every Democratic administration decides to throw more money at free health care and maybe start a war.
It’s odd how often our Democratic friends start a war right after a presidential election: Woodrow Wilson in 1917, FDR in 1941, Harry Truman in 1950. And LBJ waited until 1965 to really crank up the Vietnam war.

You and I think about the economy: our jobs, careers, getting inflation down and growth up. But politicians don’t. They think about heroic deeds, like bashing the Kaiser, taking out Hitler and Tojo, sorting the Commies, and “tackling” climate change. Why do they do it? Because wars are what rulers do. They can tax and spend and inflate to their hearts’ content, and if all the taxing and spending and inflating impoverishes the people, well, it’s all in a good cause: saving the world.
And when there’s no war, then politics is all about taxing the rich and helping the poor. . .

Let’s look at things another way. Suppose there was no climate change to fight. Suppose there were no oppressed peoples. Do you see the problem? There would be nothing for national governments to do. There would be nothing for headline politicians to do. There would be nothing for devoted activists to do. There would be nothing for government bureaucrats to do.

ABOVE THE FOLD, BREAKING, NOTEWORTHY
• Michael Walsh: But what struck me as being different this time was how even local reporters had turned into slavish mouthpieces for the state, as they set about utterly destroying the lives of anyone that went to Washington that day. In case after case, these people were vilified in their home papers and on their local news reports, resulting in the loss of their jobs, their homes, their businesses, and the respect of their neighbors, and even their liberty—all before any trials had taken place. For the media, these “insurrectionists” were guilty until proven innocent.
  'How the Media Missed What I Saw on January 6'
  
• It’s a wonderful introduction to our system of government. But for all the video gets right, there’s an anomaly at its core.
  Neil Gorsuch Op-ED: ‘Schoolhouse Rock’ Forgot To Teach Kids About The Administrative State

ISRAEL vs IRAN & GAZA/HAMAS/Hezbollah . . . AND BIDEN
• Israel said earlier this year that at least 12 UNRWA employees had participated in the terror attack. There were also reports that UNRWA staff praised the attacks, and that many UNRWA employees were members of terror groups.The U.S. suspended funding to UNRWA when Israel made the accusations; many other donor nations followed. An initial “independent” investigation found that there was insufficient evidence to substantiate Israel’s claims. (Israel rejected the results of that inquiry, as did the UN Watch organization, saying the probe ignored available evidence.)
  UN Admits: 9 UNRWA Employees May Have Participated in October 7 Terror
  
• Iran has learned that Israel’s and the US’s air defense systems can be overwhelmed. Khameni’s new threats must be taken seriously.
  Iran’s Khamenei Threatens Israel … and the West

• Bush said she has “to be careful about labeling” people and organizations.
  Cori Bush Doesn’t Know if Hamas is a Terrorist Organization

  WE-ALL-SLAM-FOR-I-SLAM

• Finally, the UK public explodes.
  Battle for Britain
  
• Speaking at his official residence and office Downing Street, where it appears a certain degree of bunker mentality has set in — the husband of the Home Secretary (Interior Minister) complained his hadn’t seen his wife in a week on national television this morning — Sir Keir said of what had been agreed as the next steps: “The first is we’ll have a standing army of specialist officers… [unintelligible]… so what we’ll have enough officers to deal with this where we need them”.
  Sir Keir Starmer Announces ‘Standing Army’ to Combat Riots as he Insists ‘There is no Two-Tier Policing’
  
• Comcast‘s Sky News were forced to abandon a live broadcast amid riotous protests in Britain by a mob of masked men shouting “Free Palestine!” and “F**k the EDL!” in reference to the long-defunct English Defence League. Protests, several of which have devolved into rioting, have gripped the country since the deadly mass stabbing of multiple young girls, their teachers, and a man in his sixties who tried to help at a Taylor Swift-themed dance class in Southport, England.The suspect in the case has been named as Axel Muganwa Rudakubana, the Wales-born son of two Rwandan migrants. Some have focused on hotels hosting illegal aliens and mosques as the demonstrations morph into a broader protest against mass migration and its consequences.
  News Network Forced to Abandon Broadcast by Masked Muslims Making Gun Signs.
  
• [ERic the red] Holder may be busy vetting potential Harris running mates, but not too busy to tap out a tweet last week defending his extremist view. "The people responsible for structuring this awful deal did the best they could," Holder said of KSM’s short-lived plea deal. "They were dealt a bad hand by political hacks and ideologues who lost faith in our justice system. KSM would be just a memory if my 2009 decision had been followed."  
  Meet the Al-Qaeda Lawyers Advising Team Harris
  
• However this plea deal came about, it is not good. Replacing it with more years of endless proceedings is also not good.
  U.S. Government Still Waffling on 9/11 Plotters

  "BIDEN, And HARRIS, BORDER BLOODBATH," AMNESTY, IMMIGRATION, BORDER SECURITY

• The report came just days after the House passed a resolution—in a 220-196 vote with six Democrats in favor—condemning Vice President Kamala Harris, the presumptive Democrat presidential nominee, for her failure as "border czar" to secure the U.S. southern border. More than 7.8 million migrants have crossed the border illegally under the Biden-Harris junta.
  Nearly 100 Illegal Immigrants on Terror Watch List Were Released into US Under Biden, Harris' Watch
  
• The [so-called quote-unquote] president’s zeal for open-borderism is an albatross for his vice president.
  Biden’s Immigration Obsession
  
• According to records , Cruz-Ferrera most recently crossed the border near Eagle Pass, Texas in 2016 when he was 11 years old, where he was processed by border agents and released with a notice to appear in court under the Obama administration. He eventually moved to Virginia, where he competed school up through the 11th grade, the New York Post reports. An immigration judge had ordered Cruz-Ferrera’s deportation back in 2018 during a hearing he never showed up for, and never responded to. Which shows about how useful years-out immigration hearings are. Like a screen door on a submarine.
  Illegal Alien Ordered to Be Deported Charged With Killing Virginia College Student

  BIDEN CRIME FAMILY REVELATIONS

• A new report finds that former director Kim Cheatle, forced to resign over the disastrous near-assassination of Donald Trump, wanted the evidence destroyed, the substance not tested, and the case closed quickly. This was despite the high profile nature of the story — the evacuation of the entire White House, including the media, due to fears that the white powder, which a uniformed Secret Service agent discovered, was ricin or anthrax. 
  The Secret Service Cocainegate Cover-Up

  SHAMPEACHMENTS, 2016 CLINTON/OBAMA COUP, CONGRESSIONAL PERSECUTION, SPYGATE, DEEP STATE, MUELLER DECEPTION

• It is not clear whether Raskin was actually outlining a plan of action, or rather using a hypothetical to argue that the U.S. Supreme Court was placing what he considered an undue burden on Congress to keep Trump out of office.
  WATCH: Raskin Describes Scenario Where Congress Could Disqualify Trump in January
  
• “Under our constitutional structure of separated powers, the nature of Presidential power entitles a former President to absolute immunity from criminal prosecution for actions within his conclusive and preclusive constitutional authority,” the court held in a 6-3 ruling. “And he is entitled to at least presumptive immunity from prosecution for all his official acts. There is no immunity for unofficial acts.”
  Former US Attorney Tells MSNSDAP ‘There’s Absolutely No Chance’ Trump’s DC Trial Happens Before Election
  
• Missouri Attorney General Andrew Bailey sued the state of New York in July, alleging its prosecution of Trump violated the First Amendment right of Missouri citizens to hear from a 2024 presidential candidate. In a brief order, the Supreme Court declined to allow Missouri to file its complaint and dismissed its motion for preliminary relief.
  Supreme Court Rejects Missouri’s Lawsuit Against New York Over Trump Prosecution

  CIVIL WAR 2.0: J-6 FBI FALSE FLAG "RIOT" & AFTERMATH, LEFTIST PERSECUTIONS, DEMOCRAT PUTSCH, AMERICAN DISSOLUTION

• Reparations task force would target laws that 'disproportionately and negatively affect African-Americans'
  Kamala Harris Wants a Reparations Commission Like California's, Which Called To Decriminalize Public Urination
  
• As you may recall, Hutchinson said that on January 6, as President Donald Trump was driven from his speech at a Save America rally to the White House, he "lunged" at the Secret Service driver when he learned that he wouldn't be going to the Capitol Building for a "peaceful and patriotic" protest. That was the story she told the January 6 Committee.  Hutchinson, immediately turned into the darling of the Never Trump left. She testified before the January 6 Committee — which, coincidentally, put their documents into the wood-chipper too, small world — that the angry orange man caused quite a scene in the car. 
  Another J6 Lie Goes Into the Wood Chipper With the Release of Secret Service Report
  
• The recently announced plan to impose retroactive term limits on Supreme Court justices is a prescription for a constitutional crisis.
  Unraveling the Court

  FIRST AMENDMENT ISSUES, CENSORSHIP, FAKE NEWS, MEDIA, BIG BROTHER TECH

  
  

• While attorney general of the trend-setting California, Harris helped usher in the age of proto-fascism even before it was cool. 
  The ‘Crime’ Harris Was Toughest on was Journalism
  
• “After having carefully considered and weighed the witness testimony and evidence, the court reaches the following conclusion: Google is a monopolist, and it has acted as one to maintain its monopoly,” U.S. District Judge Amit Mehta Mehta wrote in Monday’s decision.
  Masters of the Universe Take an L: Google Found to Hold an Illegal Monopoly in Antitrust Case
  
• Several Georgia voters told Newsmax they couldn’t recount a single Harris accomplishment over the course of her entire career, during a segment that aired on Tuesday. Washington Post politics reporter Amber Phillips noted there are only two achievements that “could be reasonably called her accomplishments” alone.
  Liberal Media [redundancy] Outlet Sets Off On Mission To List Kamala Harris’ VP ‘Accomplishments’ — Turns Out It Isn’t So Easy

  THE ECONOMY, STUPID

• American markets plunged on Monday as well, with the S&P 500 losing 3.1 percent and the Dow Jones Industrial Average (DJIA) falling 3.6 percent. The AP quoted some analysts who hoped this, too, might be a helpful market correction after a year of artificial highs driven by “a frenzy around artificial-intelligence technology and hopes for coming cuts to interest rates.”
  Kamala Crash: Japanese Stocks Lose More Points than on ‘Black Monday’ in 1987
  
• The poll also found in contrast that forty-four percent said they will be worse off if Harris wins, as only 38 percent said the same if Trump wins.
  YouGov Poll: Plurality Say They Will Be ‘Financially Better Off’ if Trump Defeats Harris
  
• STOCK MARKETS CRASHING. I TOLD YOU SO!!! KAMALA DOESN’T HAVE A CLUE. BIDEN IS SOUND ASLEEP. ALL CAUSED BY INEPT U.S. LEADERSHIP!
  Trump: ‘Voters Have a Choice — Trump Prosperity, or the Kamala Crash’
  
• The Biden-Harris junta recently proposed capping rent price increases at 5%. The cap would apply to any landlord that owns more than 50 units, which equates to 20 million rental units nationwide, or roughly 50% of the nation’s total units. I suspect that all Americans agree with the goal of keeping essentials like food, housing, and healthcare affordable. Unfortunately, the proposed price controls – rooted in bad economic assumptions and perhaps some technophobia – are likely to do the opposite.
  The Biden-Harris Plan To Lower Your Rent Will Actually Inflate It
  
• With bigger and bolder lies than ever!
  Fact Check: Lousy Jobs Report Brings Out The Worst In Biden-Harris
  
• Markets are panicking amid long-running fears of a recession, but it’s too soon to tell.
  Just Another Volatile Day—or Something Worse?
  
• It all comes down to the binary of gifting your supporters and going to war against the enemy. So every Democrat administration decides to throw more money at free health care and maybe start a war.
  Why Do Democrats Wreck the Economy?
  
• Trump said during a Q&A with the National Association of Black Journalists (NABJ) that “coming from the border are millions and millions of people that happen to be taking black jobs,” according to Politico, with the remarks igniting a bevy of critiques from corporate media outlets, with one going as far to say that “black jobs” don’t exist and others leaning on experts to characterize the assertion as “not true.” However, the reality is that immigration has a depressive effect on wages and employment, with experts pointing out how illegal immigration has disproportionately affected industries and localities where black Americans frequently work.
  Decades Of Data Stands Behind Trump’s Claims About Illegal Immigration And ‘Black Jobs,’ Experts Say

  
  RED-GREENS, CLIMATE CHANGE HOAX, DEMOCRAT-LEFT WAR ON FOSSIL FUELS, JUNK SCIENCE, LYSENKOISM

  
  

• Debris from the downed Vineyard Wind unit is continuing to wash ashore, this time impacting Westport, Massachusetts….and potentially more is on its way to Rhode Island.
  After Blade Failure, East Coast Communities Awaking to Realities of “Green Energy” Dreams
  
• XINN reports that the growing popularity of electric vehicles has led to a significant increase in demand for public fast charging. However, this demand has also brought to light a frustrating issue for many EV owners: “charger hogs.” These inconsiderate drivers linger at fast chargers, even when their batteries are nearly full, causing long wait times for others in need of a charge.
  Introducing the Latest EV Headache: ‘Charger Hogs’ Causing Endless Lines at Charging Stations
  
• The junta also said it planned tougher regulations on plastic manufacturing,
  With the World in Complete Chaos, Biden Focuses on Single-Use Utensil Ban
  
• Biden’s EPA is giving $4.3 billion in taxpayer-funded grants for an assortment of climate boondoggles around the country.
  Here Are The ‘Green’ Projects Biden Is Dumping Billions Of Tax Dollars Into Before He Leaves Office

  SECOND AMENDMENT

• As historian Halbrook reports for Reason, Judge Benton’s majority decision partially hinges on the recent “United States v. Rahimi” decision (regarding Zackey Rahimi, a man who had a restraining order on him and was blocked from having a gun, per an interpretation of the 1968 Gun Control Act) and partially on the "Second level" of the "Bruen Standard" analysis from two years ago in the “NY Rifle and Pistol Assoc v. Bruen” Supreme Court ruling. In this case, the judge determined that the state of Minnesota blocking people who are under 21 from getting gun "licenses" is substantively different from blocking a person with a restraining order on him. This is false.
  Eighth Circuit Splits Hairs On RIGHT To Keep And Bear Arms for 18-20 Year-Olds

  THE 2020 AND 2022ELECTION HEISTS & AFTERMATH

• In a series of undercover videos, Democrat lawmakers and left-wing activists candidly describe how Muslim activists gamed state election laws—and in many instances violated those laws—ostensibly to the benefit of the Democratic Party. They detail how Muslims in the state have used a combination of voter fraud, ballot harvesting, and intimidation to gain power in several of the state’s cities.Karen Majewski, who served as the Mayor of Hamtramck from 2006 until 2021, claims that Muslim candidates would fill out the absentee ballots while sitting in the voter’s dining room. “The absentee ballots are being filled out in people’s dining rooms by the candidates,” Majewski says in the undercover video. Under Michigan law, only close family members or an election official can handle a voter’s absentee ballot and deliver it to a drop box.
  WATCH: Hidden Camera Reveals Muslims Used Voter Fraud To Gain Power In This U.S. State.
  
• RCV disenfranchises voters and confuses election officials. Its supporters are desperately hiding these facts from the public.
  Ranked-Choice Voting by Subterfuge
  
• Green Bay has earned a dubious election integrity reputation thanks to Democrat Mayor Eric Genrich and his election law-smashing city clerk. (Packers, as in ballot boxes with fake ballots - jjs)
  WI City At Center Of ‘Zuckbucks’ Scandal Looks To Tap Leftist Lawfare Groups Ahead of Election
  
• From psychiatric hospitals to the NICU, clinical settings have become political battlegrounds.
  Meet the Little-Known Activist Group That Has Tens of Thousands of Doctors Registering Patients To Vote

  DEMOCRAT/LEFTIST AND RINO SCANDALS, MESHUGAS, CHUTZPOCRISY

• Devastating conflict of interest.
  Docs Undermine Shapiro’s Claims of Investigation Into Advisor’s Misconduct Allegations

  BIDEN's DEPARTURE and AFTERMATH

• Of course, making Americans poor and overseeing rampant crime, Chinese domination, border invasions, Middle East chaos, terrorists burning down our cities, and the threat of WWIII are definitely what the legendary monument’s visionaries meant by “preservation and development"...right?
  Washington, Lincoln and... Biden? Pelosi Says Joe Biden Belongs on Mt. Rushmore Where KSM can give him his one free Islamic homosexual flying lesson!
  
• Harris is like that feather in the wind at the end of “Forrest Gump.” She’s a historical accident. That, in less than four months, she could be the most powerful human on Earth, decider between war and peace, her manicured fingers flitting casually over the nuclear button, fills me with awe and astonishment over the inscrutable perversity of our age.
  Accidental rise of Kamala Harris is a symptom of an unserious age

  POLITICS

• “There’s a lot of irrational exuberance on the Democratic side of the aisle right now because there was despair for some period of time about what November was going to look like…. [I]t is absolutely Trump’s race to lose right now.”
  David Axelrod: ‘It is absolutely Trump’s race to lose’ notwithstanding Harris gain in polls
  
• Heather Mac Donald: What the uproar over Trump’s race comments obscures
  The One-Drop Rule, Transformed
  
• The pair are neck and neck with independents at 44 percent apiece; 12 percent of the demographic are undecided. Trump wins 93 percent of Republican respondents and 7 percent of Democrats, while Harris earns 89 percent of Democrat support and 5 percent of Republican support.
  Poll: Donald Trump, Kamala Harris in Dead Heat in Pennsylvania Before Market Crash

  FOREIGN AFFAIRS, INTERNATIONAL

• Nearly 300 people have died since protests started July 1.
  Bangladesh Prime Minister Resigns, Flees Country After Protests Become Violent
  
• It is too soon to tell who will win, but the signs are troubling for the U.S. and India.
  India Stands to Lose in Bangladesh

• With our self-sufficiency ceded to China, and China progressively buying up our land and resources, do we at some point become China’s colony?...
  Is the US being colonized by China?
  
• For almost 80 years, the world has avoided conflagration because America is strong. Now, though, a weak America sees everything falling apart, at home and abroad.
  The Harris-Biden junta has broken the Pax Americana

  BIDEN AFGHANISTAN BUG-OUT DISASTER AFTERMATH

• The funds, distributed by the State Department‘s Democracy, Human Rights, and Labor (DRL) and International Narcotics and Law Enforcement Affairs (INL) divisions, were intended for development projects aligning with American foreign policy and national security goals in Afghanistan. However, the investigation found that these divisions failed to conduct proper vetting on at least 29 grants, as mandated by their own counterterrorism partner vetting requirements.
  Biden-Harris Regime Has Given Taliban Around $239 Million in Aid Due to Vetting Failures.

  DEFENSE, MILITARY, SECURITY AFFAIRS

• As Harris’ national security adviser, Phil Gordon brings a ton of experience to the job—and none of it good.
  Who Is Kamala’s Dr. Phil?

  HEALTH AND HEALTH CARE

• Under a Kamala Harris presidency, Americans who like their health insurance would lose it — and pay for illegal aliens’ coverage.
  Kamala Harris Always Planned To Take Away Your Health Coverage

  ACTUAL SCIENCE, TECHNOLOGY

• The consequences on Earth of this more active Sun will likely turn out to be politically profound. There is circumstantial evidence that a more active Sun results in a warmer climate on Earth. The causes are not entirely understood, though research suggests the higher activity results in less cloud cover which allows more sunlight to reach the Earth’s atmosphere. In addtion, the higher activity appears to increase the Sun’s total light output, though these numbers are still uncertain. The global warming activists who now control all climate research work hard to discourage mention of these factors. Instead, they insist that any warming that occurs has to be caused by the human activity that is raising the amount of carbon dioxide in the atmosphere. And they brook no dissent from this conclusion, even though CO2 remains a trace atmospheric chemical, and is understood to be incapable of causing this rise on its own. All climate models posit instead that the increase in CO2 will interact with the atmosphere’s water vapor (the real climate warming material) and cause it to warm the climate.
  Sunspot update: In July the Sun produced the most sunspots in almost a quarter century

  FEMINAZISM, TRANSGENDER PSYCHOSIS, HOMOSEXUALIZATION, WAR ON MASCULINITY/NORMALCY

• Trying to make God into your own image.
  The Woke, Feminist War on Holy Scripture

  CULTURE WARS, NATIONAL SUICIDE

• Christian Toto: IG report shreds former Trump staffer's absurd Secret Service car claim
  Will Late Night Apologize for Sharing Cassidy Hutchinson’s Hoax?

NOTE: The opinions expressed in the links may or may not reflect my own. I include them because of their relevance to the discussion of a particular issue.

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posted by J.J. Sefton at 06:29 AM

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