The Inflation Conundrum

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Unleash Prosperity Hotline
Issue #813
07/13/2023
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1) The Inflation Conundrum
Just as we’ve been forecasting for months, the official inflation rate (CPI) fell to 3.0 percent in June – the lowest rate in two and a half years. That’s good news – especially when considering that this time last year inflation had soared to above 9%. Prices are roughly 16% higher today than when Biden entered office and that is a steep tax on Americans’ earnings and savings.

Polls over the past year consistently show that Americans don’t believe that inflation has fallen as much as is reported.

Why the big discrepancy between public perception about what is happening with prices and the government’s “official” numbers? One answer may be found in the Federal Reserve Bank of Cleveland statistic called median CPI, which “omits outliers” with wild price shifts. The chart below shows the difference between the two inflation numbers.

The orange line shows that the median CPI is now running roughly twice as high as the monthly CPI numbers. The things people have to pay for every day or week like gas, food, rent, and electricity are emphasized in the Cleveland Fed report. That may explain why consumers are still so angry these days about out-of-control price hikes.

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2) Climate Czar John Kerry Has Gone Rogue
Biden’s “climate envoy” has spent millions of taxpayer dollars jetting across the globe to “save the planet”, but he and his 45-member staff’s activities, expenditures, and commitments of taxpayer money are apparently accountable to no one. They are a rogue operation. An investigation by the Boston Herald reports that Kerry attends climate conferences and commits the U.S. to climate treaties and billions of dollars of spending without congressional approval.

Until now.

House Oversight Chairman James Comer is hauling Kerry before his committee today (Thursday) to explain how he can unilaterally sign the U.S. up for pricey climate agreements.

“He was not confirmed by the Senate. He is not held accountable by the American people. He is skirting congressional oversight,” Comer says.

He cites two examples: a $1 billion giveaway that the White House says it will transfer to the UN’s Green Climate Fund to help developing countries address climate change. Kerry also agreed to a separate climate change deal in Egypt last year committing taxpayers to millions more

How is this constitutional? Congress appropriates money, not Biden bureaucrats.

A House Appropriations subcommittee handling the State Department’s budget has just included a ban on funding for any envoys not authorized by Congress or confirmed by the Senate. It’s about time.

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3) Supreme Court Justice Sotomayor Using Tax Dollars to Hawk Her Books
For two months, mainstream media outlets have excoriated conservative Supreme Court Justices Clarence Thomas and Sam Alito for accompanying friends on vacations. There has never been any hint that the outcome of a case was affected or of an ethics violation.

Now the Associated Press has finally run a story on how Supreme Court Justice Sonia Sotomayor, an Obama appointee, has used her taxpayer-funded office staff to help sell her books.

The AP reports that Sotomayor has made at least $3.7 million from her books since joining the court in 2009. Nothing wrong with that.

But Freedom of Information records show the Sotomayor’s taxpayer-funded Supreme Court staff has constantly leaned on public institutions where she visited to buy her books in bulk. For example, Michigan State University asked Sotomayor to come to campus and in 2018 spent more than $100,000 on copies of her memoir.

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You’d think these possible ethics violations would make splashy headlines, but the evening newscasts: ABC’s World News Tonight, CBS Evening News, and NBC Nightly News have mostly ignored the story as have major papers.

That’s why we’re here.

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4) Air Force Academy Goes Woke
Our friends at Judicial Watch discovered some remarkable uses of your tax dollars at the Air Force Academy:

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We urge you to click on the release and read all the findings. You will be appalled at the crap they are teaching our future military leaders.

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5) Homelessness Exploding in Blue States/Cities
Blue states are losing millions of people to red states, but there is one group that is flocking to Democratic cities: homeless people. This homelessness chart from the Washington Post caught our eye and matches what we've observed anecdotally:

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The HUD data have recently been updated through 2022 for the largest states, and the red/blue divide is stark. California and New York now account for over 42% of the country's estimated homeless population.

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6) They’re Coming for Your Appliances

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