The Show Notes: The Speech, Labor Markets, & Price Caps
Welcome! The “physical integrity” of a nuclear power plant in south-eastern Ukraine has been “violated.”
NEW: Instagram took down a Fauci parody account after pressure from the Biden administration.
Headline: 'Where's J.D.?:' Vance's Ohio Senate campaign prompts GOP concerns.
Stat: One in five home sellers is now dropping their asking price as the housing market cools.
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Clip of the day: Even CNN gets it.
More:
The Speech
Joe Biden gave a 24-minute speech last night in front of Independence Hall in Philadelphia, Pennsylvania that ignored the economy, the border, inflation, and gas prices in favor of heralding attacks on MAGA Republicans. Biden went so far as to say “Donald Trump and the MAGA Republicans represent an extremism that threatens the very foundations of our Republic.” President Biden conveniently forgot that Democrats spent a record $44 million aiding radical Republicans in primaries this election cycle. Read my morning piece for my full take.
Labor Market
Employers added 315K jobs in August, the lowest monthly increase since April 2021. The unemployment rate bumped up to 3.7%.
Russian Oil Price Caps
The G-7 nations have backed a plan to place price caps on Russian oil exports to limit the country’s means of funding the war in Ukraine. Russia warned that it would not sell oil to countries that impose price caps.
Energy analysts have warned the idea will never work since China and India are not among the G-7 nations and will simply be able to buy Russian oil and sell it to the rest of the world at a premium. Javier points out the absurdity:
Democrats Kept Schools Closed
Yesterday we finally received data that outlined how far students fell behind in blue states thanks to Democrats and teachers’ unions who refused to open schools during the pandemic. The White House tried to spin the story as an attack against Republicans but Tom Elliot put together an amazing Twitter thread highlighting all of the Democrats who fought to keep schools closed. Check it out:
The rest of the news:
Trump FBI raid: DOJ releases more details on documents taken from Mar-a-Lago - Fox News
Video shows would-be assassin pull the trigger in face of Argentina VP Cristina Fernandez de Kirchner - NY Post
Heckler chants ‘F–k Joe Biden’ throughout primetime speech - NY Post
Top Med Schools Weed Out DEI-Skeptical Applicants, New Report Finds - National Review
Putin declines to honor Gorbachev with state funeral - Washington Examiner
DeSantis, Youngkin split on road to '24 - Axios
Broadcast Networks Pass On Carrying Joe Biden’s Primetime Speech - Deadline
IRS commissioner offers little reassurance to taxpayers - Washington Examiner
NASA aims for Saturday launch of new moon rocket after fixes - AP News
Poland demands $1.3 trillion war reparations from Germany - AP News
Tom Brady’s wife is not happy with him - Dailymail
Global Bonds Tumble Into Their First Bear Market in a Generation - Bloomberg (paywall)
Cost of Growing Food in US Is Set to Rise by Most Ever in 2022 - Bloomberg (paywall)
The most-regretted (and lowest-paying) college majors - Washington Post (paywall)
Tweets that caught my eye: