The Show Notes: The Inflation Surge, Biden Loses Independents, & How To Land A Plane
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Ouch: Bitcoin dips below $30K.
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Clip of the day:
Biden’s Economy
Poor economic news greeted the Biden administration this morning as April inflation data surged past expectations. April’s consumer price index report remained near a 40-year high of 8.3%. Inflation-adjusted earnings continued to slip with workers taking home 2.6% less than the previous year. Food and shelter costs saw the largest month-over-month increases. Here are more economic headlines:
Adjustable-rate mortgage demand surges to 14-year high, as homebuyers try to afford this pricey spring market - CNBC
All of Wall Street is lining up behind the dollar’s historic run - Yahoo Finance
Cryptocurrency TerraUSD plunges as investors bail - WSJ
U.S. Treasury yields climb after April inflation is higher than expected - WSJ
House Ag tackles breakdown in food supply chain - FarmWeekNow
Trump Back On Twitter?
Elon Musk made waves yesterday by announcing he would end Donald Trump’s Twitter ban after his purchase of the tech platform was complete. Musk called Twitter’s decision “morally bad” and “foolish in the extreme.” This is from Politico:
“I do think it was not correct to ban Donald Trump,” Musk said in a live interview with the Financial Times. “I think that was a mistake because it alienated a large part of the country and it did not ultimately result in Donald Trump not having a voice.”
Biden Loses Independents
A brand new poll finds that only 39% of Americans approve of Biden’s job performance. As expected, 76% of Democrats approve of Biden’s performance, and 84% of Republicans disapproved of Biden’s performance in office. The surprise was independents are moving away from Biden. This is from Newsweek:
In May, 58 percent of independents disapproved of the job the president is doing, compared to 27 percent who approved. That represents a decline since April, when the IBD/TIPP poll found that 51 percent of independents disapproved of Biden and 29 percent approved.
Trump’s Mixed Primary Day
One week after Trump-backed JD Vance won the GOP Ohio Senate primary, two more Trump picks were on the ballot in Nebraska and West Virginia. House GOP incumbent Alex Mooney faced fellow House GOP incumbent in a rare primary battle between two incumbents fighting over a combined house seat after redistricting. The Trump-backed Mooney prevailed.
Trump-backed Charles Herbster lost to Jim Pillen in the Nebraska GOP primary for governor. Herbster, one of Trump’s megadonors, faced groping allegations by multiple women late in the race. Pillen was backed by the state’s term-limited Governor Pete Ricketts.
The rest of the news:
A passenger with no flying experience landed a plane in a Florida airport after the pilot became incapacitated - CNN
Putin seen with blotches on cheeks after skipping beloved ice hockey game - NY Post
Alito’s draft opinion overturning Roe is still the only one circulated inside Supreme Court - Politico
A trio of GOP governors will rally for Brian Kemp - AJC
Tesla recalls 130K vehicles; touch screens can go blank - Techxplore
Baby formula recalled after 4 infants in 3 states fall ill - Washington Post
Whistleblower warned FDA about formula plant months before baby deaths - Politico
The ACLU has lost its way - The Atlantic
Drug overdose deaths hit record in 2021 - WSJ
NBC wonders: Has Schumer *really* looked at polling on abortion? - Hotair
Hertz will rent you a Mustang with more than 900 horsepower - CNN
Guy who lost his fantasy football league was 'punished' by having to play n a US Open qualifying event ... shoots a 112 - Barstool
Bonus clip: