The Show Notes: Inflation Misinformation, EV Subsidies, & Trump Raid Details
Welcome! Ilhan Omar won her primary by the smallest margin of her career.
NEW: Trump ally Rep. Scott Perry says the FBI seized his cellphone one day after Mar-a-Lago raid - Fox News
Headline: Biden admin moves to end Trump-era Remain in Mexico after court ruling
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Inflation: Consumer prices rose 8.5% year-over-year in July but Biden wants you to focus on the 0% increase seen last month thanks to falling gas prices driven by shrinking demand. That’s not a good thing.
Pundits still say inflation is a problem.
Ford, really?
Headline: Ford raised prices on EVs by the exact amount of the expiring tax credit.
Details: Axios has a tantalizing headline that reads If you want an electric car, buy one this week. The crux of the story is that buyers of electric vehicles are eligible for a $7,500 rebate before the Manchin-Schumer bill is signed which alters the eligibility to basically no vehicle on the market. As it stands, the $7,500 rebate is limited to 200,000 EVs per manufacturer. Popular EVs companies like Tesla and GM have already hit their 200,000 cap. Ford has not. Ford raised the prices of the electric F-150 Lightning by the exact amount of the tax credit. Shady.
The FBI Raid
The New York Post tells us “FBI agents scoured Melania Trump’s wardrobe and spent several hours combing through Donald Trump’s private office” when the agency executed their search warrant on Monday. The search warrant focused solely on presidential records and how classified information was being stored. 30-40 plain clothes agents arrived at 9 AM on Monday morning and did not leave until 6:30 Monday evening. Go deeper with The New York Post. A clip has emerged of the Obama-linked judge who approved the warrant.
Award: Tweet of the day
UK Plans for Blackouts in January in Emergency Energy Plan
This is from Bloomberg:
“The UK is planning for several days over the winter when cold weather may combine with gas shortages, leading to organized blackouts for industry and even households.
Under the government’s latest “reasonable worst-case scenario,” Britain could face an electricity capacity shortfall totaling about a sixth of peak demand, even after emergency coal plants have been fired up, according to people familiar with the government’s planning. Under that outlook, below-average temperatures and reduced electricity imports from Norway and France could expose four days in January when the UK may need to trigger emergency measures to conserve gas, they said.”
The rest of the news:
Trump says he invoked Fifth Amendment in N.Y. attorney general deposition - Axios
Google wants Apple to ‘fix texting,’ calls green bubbles ‘difficult to read’ - NY Post
More than 4,000 flights canceled since Thursday amid strong storms - Washington Post
Elon Musk offloads nearly $7 billion in Tesla stock amid Twitter fight - Marketwatch
Roger Goodell: Deshaun Watson engaged in 'multiple' incidents of 'egregious' and 'predatory' behavior - Yahoo
Albuquerque police identify and charge 'primary suspect' in killings of Muslim men, police say. - CNN
Member of Iranian terror group plotted to assassinate John Bolton: DOJ - Washington Examiner
Richer people are eating more at Applebee's and IHOP - CNN
Egg Prices in US Jump 47% as Food Inflation Hits Highs Not Seen Since 1979 - Yahoo
Why Isn’t Biden Ever on TV? - DNYUZ
Netherlands to SHUT DOWN 11,200 farms to meet climate goals - Substack
Inflation Tracker: When Will Prices Stop Going Up? - WSJ (paywall)