THE SHOW NOTES: The American Consumer, Donald Trump, & Hunter Biden

Welcome! Joe Biden will visit Hawaii following his “no comment” flub last week.

THE GATHERING: Are you joining me at The Gathering? Here’s the agenda.

DATA: 64% of Americans say they definitely or probably will not vote for Trump in 2024 - AP

HEADLINE: Trump’s Georgia Lawyer Donated to Fani Willis’ DA Campaign - Rolling Stone - Huff Po

NEW: Nevada jumps in front of South Carolina in GOP early voting.

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The American Consumer

Brand new economic data points from multiple sources suggest the average American consumer is falling woefully behind.

• 47% of credit cardholders currently carry debt from month to month up from 39 percent in December of 2021.

• 60% of Americans with credit card debt have carried the debt for more than one year with an average monthly interest rate of 22.59%. 

• $1,600 is the average monthly mortgage payment for a starter home in the United States following a 13% increase from last year.

• $402,600 is the median home price after the US housing market saw a record price increase last month.

• 50% fewer affordable houses are on the market today vs 2012.

• 23% more is what you will pay at the grocery store compared to pre-COVID prices.

• $709 more per month is what the average household will pay for standard goods and services compared to two years ago.

• 37% is the percentage of Americans who feel very confident about reaching their retirement goals. This is down from 53% in 2021.

Despite a growing body of evidence, Kamala Harris claimed just last week that "Bidenomics is working... Wages are up, and inflation has fallen 12 months in a row!"

Trump

Donald Trump and his 18 co-conspirators will be booked at the Fulton County jail between now and August 25th following District Attorney Fani Willis’ 41-count indictment. Prosecutors insist a mugshot will be taken and the trial will be televised.

Twitter: Jack Smith’s office was granted a warrant allowing them to access all communication pertaining to Donald Trump’s Twitter account from October 2020 to January 2021. Twitter attempted to delay the proceedings but was fined $350,000 in February while the judge questioned if Elon Musk was attempting to “cozy up” to Donald Trump.

Hunter Biden

Hunter Biden’s legal team appears to be at all-out war with the Justice Department claiming the federal government “reneged” on a plea deal both sides agreed to earlier this month. Federal prosecutors deny this claiming  “the two proposed agreements were drafts that either party could propose changes to.” Biden’s top lawyer resigned yesterday to serve as a witness for his client.

🔥 Trending news:

• Giuliani struggling under massive legal bills after defending Trump - CNN

• Some of America’s poorest communities are landing clean energy projects worth billions - CNN

• The US Economy’s Not a Plane and It Won’t Land Gently - Bloomberg (paywall)

• Entire police department resigns in Minnesota city, leaves mayor ‘blindsided’: 'Zero applicants' - Fox News

• Sinema takes on Schumer, Jeffries and the White House over the border - Politico

• Target sales suffer after Pride month backlash - BBC

• Rising risk of bank downgrades - The Hill

• Great white sharks usually travel solo. A duo is baffling experts. - MSN

• Americans back tariffs, military prep against China - Reuters

Market snapshot: