Two of America’s biggest banks just warned of incoming disaster. Even poker-face Federal Reserve Chairman Jerome Powell is starting to crack, sprinkling his usual sweet nothings with warnings that the Fed’s close to being forced to restart the money printers despite galloping inflation. The warnings come from JP Morgan, whose CEO Jamie Dimon warns that inflation will stay higher for longer than markets think, driven by massive federal deficits. He warns this higher inflation would also keep interest rates high, which could crash smaller companies who are running out of cash. It would also keep mortgages and credit cards at rates slightly higher than the mafia charges. Incidentally, Dimon is the front-runner for Treasury secretary in a prospective second term for former President Donald Trump, so he’ll have Trump’s ear. The second warning comes from Citigroup, which put out a new report predicting what Zerohedge calls a “rate-cut bomb”—a near-panicked series of 10 interest-rate cuts starting in a few months and running all the way to next July. That’s something that only happens when the economy careens into recession, when the Fed desperately pumps rescue meds—that is, rate cuts—to an economy that’s flat-lined. Put them together, and Dimon thinks inflation will keep running. Citi thinks the economy will collapse. We have a name for that—stagflation. Now, normally, when the economy crashes, the Fed lowers interest rates to pump up spending. But all that new money also drives up inflation, so it’s always a trade-off between growth and inflation. The problem is when both crash and inflation come at once. The Fed’s standard tools aren’t built to handle that, because it’s not supposed to happen. That means the Fed is winging it—or as Powell famously put it last year, “navigating by the stars under cloudy skies.” Put differently, they have no idea what they’re doing. Federal Reserve Chairman Jerome Powell (Tom Williams/CQ-Roll Call/Getty Images) Stagflation’s been on our radar for a few years now, ever since the money-printing orgy of the 2020 lockdowns set off the worst inflation in 50 years, followed by the most savage rate hikes in 50 years. The biggest surprise has been how long it’s taken, apparently postponed by trillion-dollar deficits and yet more trillions in private debt from credit cards to car loans. Of course, that put it off, but it actually made it worse, now posing stagflation on an American public that’s basically drowning in debt. While all this looks pretty gloomy, there are two big factors that could head off stagflation: geopolitics and Donald Trump. Geopolitics, meaning if the wars end tomorrow, we could see crashing oil prices along with a reduction in systemic risk that would boost investment. This would take the edge off inflation, and it could at least slow job losses. The bigger factor is Trump. A few days ago, I outlined his pro-growth agenda for a second term, from regulation to taxes to ending those wars. That would definitely boost growth, which reduces inflation. And even if Trump is at least six months away, markets are already reacting, with Trump-sensitive sectors like energy rising as a Trump win becomes more likely on the betting markets. Still, even if help is on the way, it’s almost certainly too late to avoid the stagflation altogether: Economies move on a long lag, and even without bank warnings, mass layoffs and faltering consumers tell us the stagflation is already on our doorstep. The post Are We on Verge of Stagflation? appeared first on The Daily Signal.

It's Hoaxes All the Way Down

The liberal ladies of ABC’s The View tried to put on a brave face during Monday’s episode as they had to react to President Biden dropping out of the presidential race and giving the nod to Vice President Kamala Harris. While they all rallied to Harris’s banner for political purposes, moderator Whoopi Goldberg vented her frustrations with the whole situation and demanded others thinking of challenging Harris’s ascension “don’t even think about it!” Mischaracterizing her emotions about it as boredom, which it would become clear she was angry, Goldberg raged: I'm bored by it. I’m telling you. I’m bored by it. Yeah, I’m bored it and I'm going to tell you why. You know, the messaging that we have put out to people over a certain age is horrific. We have basically said, ‘Hey, you know what? We kind of think if you're over a certain age, you don't really have what it takes to do what you're doing.’ That’s the messaging that we’ve put out, so I'm bored by hearing that. Goldberg admitted she would have preferred that Democrats had kept their infighting behind closed door and hidden it from the American people. Her issue was that public conversation meant The View had to talk about it: I would have preferred my Democrats to do this not publicly and in everybody's face. Because what it did was it had us sitting, having to talk about this endlessly and not being able to say, because we couldn't have two-way conversations about this kind of thing, with just sort of being left. So I'm bored by the, ‘oh my god. What's going to happen?’     In their second segment, which was dedicated to rallying support for Harris, Goldberg lashed out Independent West Virginia Senator Joe Manchin, who was reportedly mulling over changing his party again in order to make a run for president. “Mr. Manchin, don't even think about it!” she glared at the camera. “down! We don't want you! We don't want you! We saw what you did. Go on and stay wherever you are.” The View’s fake conservatives were also sure to share their praise for Biden while being sure to prop up Harris. “So, I was sad, you know, as I've said here many times, I love Joe Biden, and I'm full of gratitude to Joe Biden today,” proclaimed Ana Navarro. “So I was sad, you know, in the way that when you see a champion athlete retire, leave it all on the field and walk away into the sunset, that made me sad. It gave me nostalgia.” “I was also mad because he's been dragged relentlessly for three weeks by people who are supposedly his friends,” she huffed. Alyssa Farah Griffin tried to suggest – without evidence – that the Trump campaign was having a “meltdown” over Harris taking over. “They don't know what to do with themselves. They planned a whole campaign against Joe Biden, not against a female former prosecutor, attorney general, senator, somebody who while she's the vice president, there are unknowns there. All their data, all their strategy was built around this man,” she insisted. “It's a moment that I feel like people are energized. I'm feeling something…I'll be honest. I'm just excited,” she announced. Navarro went on to rant about how it was their duty to support the Democratic Party nominee, meanwhile, Farah Griffin touted Harris embracing celebrity endorsements.   Ignoring the fact that Kamala had to drop out the 2020 Democratic primary long before Iowa because not even Democrats likes her, Alyssa touts that she was "vetted on a national stage." "She's going to lean into celebrity endorsements," she touts. pic.twitter.com/DaLO0tBHZt — Nicholas Fondacaro (@NickFondacaro) July 22, 2024   Staunchly racist and anti-Semitic co-host Sunny Hostin (the descendant of slave owners), chimed in and suggested that Biden staying in through Democratic primary process play out and waiting until weeks before the Democratic National Convention to drop out showed just how much of “a statesman he is. I think it show what is a patriot he is.” “I think it shows he can put his country before his ego…I think that history will note him as one of the greatest presidents that we have had,” she declared. The transcript is below. Click "expand" to read: ABC’s The View July 22, 2024 11:02:41 a.m. Eastern (…) WHOOPI GOLDBERG: This is what everybody was asking for, and this was the decision that he made, and is everybody okay? SUNNY HOSTIN: Yeah. I think so. I mean, he's the first president since 1968 to -- GOLDBERG: Lydon Johnson. HOSTIN: -- to step down. I think it shows what a statesman he is. I think it show what is a patriot he is. I think it shows he can put his country before his ego, because he had such a great record as president. GOLDBERG: Has. HOSTIN: Has. I think that history will note him as one of the greatest presidents that we have had. (…) 11:03:54 a.m. Eastern ANA NAVARRO: So, I was sad, you know, as I've said here many times, I love Joe Biden, and I'm full of gratitude to Joe Biden today. So Joe Biden, thank you for everything. Over 54 years of career. So I was sad, you know, in the way that when you see a champion athlete retire, leave it all on the field and walk away into the sunset, that made me sad. It gave me nostalgia. I was also mad because he's been dragged relentlessly for three weeks by people who are supposedly his friends. (…) 11:06:53 a.m. Eastern ALYSSA FARAH GRIFFIN: The reality was it was going to be a really big uphill battle for him if he stayed in the race, and I would look no further than the absolute meltdown that's happening on the trump campaign right now. The messaging since has been pretty clear. Vice president Harris is now the democratic nominee or soon-to-be. They don't know what to do with themselves. They planned a whole campaign against Joe Biden, not against a female former prosecutor, attorney general, senator, somebody who while she's the vice president, there are unknowns there. All their data, all their strategy was built around this man. It's a moment that I feel like people are energized. I'm feeling something. I feel like a lot of folks didn't want that rematch. We lived through 2020. That was a hellish year, and now is something different, and I'll be honest. I'm just excited. (…) 11:07:38 a.m. Eastern GOLDBERG: I'm bored by it. I’m telling you. I’m bored by it. Yeah, I’m bored it and I'm going to tell you why. You know, the messaging that we have put out to people over a certain age is horrific. We have basically said, ‘Hey, you know what? We kind of think if you're over a certain age, you don't really have what it takes to do what you're doing.’ That’s the messaging that we’ve put out, so I'm bored by hearing that. I'm also bore by saying well, it's the next generation. It's still an unknown. We can believe what we like to believe, and I love Kamala and have defended her from day one. I know she can do the job. I would have preferred my Democrats to do this not publicly – HOSTIN: Yes. GODLEBRG: -- and in everybody's face. Because what it did was it had us sitting, having to talk about this endlessly and not being able to say, because we couldn't have two-way conversations about this kind of thing, with just sort of being left. So I'm bored by the, ‘oh my god. What's going to happen?’ (…) 11:15:23 a.m. Eastern GOLDBERG: And I anticipate that every Democrat who was kvetching is going to stand behind her. I am trusting that we're not going to have a problem here, because this is what everybody said they wanted to happen. Mr. Manchin, don't even think about it! HOSTIN: Sit down! Take a seat! GOLDBERG: Sit down! We don't want you! We don't want you! We saw what you did. Go on and stay wherever you are. You are not – Look, I should not -- I started to speak as if I was a speaking head for the Democrats. I'm a speaking head for Whoopi. Sit down! (…)

To address the sudden withdrawal of President Biden from the 2024 race, MRC founder and president Brent Bozell appeared on the Fox Business program Varney & Co. on Monday. He said "The media made Biden, the media broke Biden, and the media got rid of Biden." Why? Because "he was toast." "Look who's here! Brent Bozell," said Varney. "You said, 'The media made Biden.' So, why did they abandon him?" Bozell said it wasn't about Biden's dwindling abilities to do the job. It was all about the dwindling prospects of a Biden-Harris victory.  BOZELL:You know, think about this -- this is kind of interesting, Stuart. Joe Biden was the first Democratic nominee or incumbent who the media didn’t support, going back to Lyndon Johnson [in 1968]. If you do your history, in every single campaign that the Democrats have run, they’ve had the full-throated support of the media. This was the first time that the media chucked the Democratic candidate over the side.  So it was guaranteed – and I said it on your show a few weeks ago, when you asked me. I told you he was done the moment the media turned on him. Why’d they turn on him? Because they didn’t have any use for him, because they saw the reality that the guy is falling apart. And by the way, Stuart, they saw that reality months and months ago, so–to the degree that there–there is this attitude, now, that, “Oh, he can’t run, he can’t run.” What hypocrites! They knew it months ago and they were supporting him months ago. But when the whole world saw it and they couldn’t hide it, that's when they said, “It's time to go.” Varney agreed that when the polls "started to go all in Trump's favor, especially in the swing states, that's when they turned and said, “Hey, we’ve gotta change.” Bozell agreed that he couldn't improve from there.  BOZELL: There’s no way! He couldn’t win a debate #2. He couldn’t pick up where he was losing in states. The paths for victory were getting ever-wider for Donald Trump. He was toast! And they knew it. So, they threw him aside. It's really gonna be interesting now, because how in the world–what is there to support in Cackling Kamala? I don't know how they’re gonna get behind her because she is gonna–she’s gonna be terrible on the–on the national stage.  Varney then pointed out "as soon as Biden dropped out, Obama praised him as a great president. Now, that’s an about-face but somewhat hypocritical, isn’t it? ‘Cause they're not exactly close friends, these guys." Bozell replied:  BOZELL: No, you know, but call it guilt, on the part of the media, for having thrown him overboard. Now, they're suddenly – they’re all praising him about what a wonderful president he was, and how consequential he was. Look, he’s gonna go – Joe Biden was never in charge of his administration. This was Obama 3.0 that was running the shot. He never amounted to anything. I think he’s gonna go down as–his administration will go down as a complete failure. But I think he's gonna go down as, perhaps, one of the most inconsequential presidents in American history. VARNEY: Ouch! That’s a harsh judgment. Thanks for joining us, Brent. We always like to see you on the show and today was an important day. Brent Bozell, everyone.

On Monday’s CBS Mornings, longtime leftist CBS correspondent and CBS News Streaming Network host John Dickerson defended the Democratic Party giving a middle finger to primary voters and coronating Vice President Kamala Harris without a single vote because, well, at least they didn’t storm the Capitol like Republicans did on January 6, 2021 and claim the 2020 election was rigged. Co-host and Democratic donor Gayle King might have inadvertently opened the door to the kabuki theatre Democrats will employ now that President Biden has dropped out by saying off the top of the show that Biden’s “surprise announcement yesterday, marks an historic, unprecedented and possibly undemocratic moment in American politics with the election...105 days away”. Skipping ahead in the first half-hour, co-host Tony Dokoupil hit the nail on the head in a set-up to Dickerson: “Republicans...are already calling this an undemocratic process. You know, Democrats say they’re all about protecting democracy, here they are overturning the will of 14 million primary voters. Do they have a point there?” Dickerson would only give the GOP “sort of” credit before arguing the parties can set whatever rules they want: “Okay, parties get to pick how they want to pick people. So if Democratic Party decides this is how they want to pick their nominee, they get to choose.” Amazing. Tony is absolutely right, but Dickerson says who cares because January 6! January 6! January 6! January 6! CBS’s Tony Dokoupil: “Republicans are always — are already calling this an undemocratic process. You know, Democrats say they’re all about protecting democracy,… pic.twitter.com/q9Un4VT3wy — Curtis Houck (@CurtisHouck) July 22, 2024 It was then he pivoted to his usual pompous and smug self by invoking January 6 as a way (albeit as a logical fallacy) to end discussion: As a political matter, do the Republicans want to have a big discussion about thwarting the will of the people? Because when you have as many clips as exist of top Republicans after January 6 saying that Donald Trump was the inspiration for trying to disenfranchise 81 million people, I don’t think that’s turf on which Republicans want to spend a lot of time. They’re taking a lot of shots. They’ve got a lot of arguments they can make. But I’m not sure that you want to have a discussion about that. An earlier segment gave a preview to how the liberal media will pull out all the stops to shamelessly pull Harris across the finish line, a la Barack Obama and the liberal media in 2008 and 2012. Featured co-host Vladimir Duthiers boasted that Harris spent Sunday “working the phones reportedly wearing a Howard University sweatshirt, where she is of course a proud alum”. Chief White House correspondent Nancy Cordes delivered a segment reminiscent of what ABC’s Good Morning America had from Deborah Roberts, down to fawning over Harris as a woman of “history” and “sharp question[er]” on the Judiciary Committee and lamenting she was “a target” of the GOP on the border crisis (click “expand”): You know if Vice President Harris does secure the Democratic nomination, which she is poised to do, she will be the first woman of color at the top of a major party ticket. But she’s used to being the first, it’s been a common theme throughout her career. (....) Kamala Harris made history four years ago becoming the first woman, the first Black person and the first Asian American to ascend to the vice presidency. Now, she is looking to make history again. (....) The 59-year-old from California began her career as a prosecutor winning statewide office in 2010 to become California’s attorney general, then winning a coveted Senate seat in 2016. (....) Her sharp questioning as a member of the Judiciary Committee drew national attention, and just three years into her first term, she made a bid for the Democratic presidential nomination. After she dropped out, she was tapped by Joe Biden to be his running mate. (....) As Vice President, Harris has been tasked with leading efforts to address migration to the southern border, making her a target for Republican critiques. (....) She has also been the administration’s fiercest advocate when it comes to reproductive rights. To see the relevant transcript from July 22, click here.

Pastor Robert Jeffress, leader of the historic First Baptist Church in Dallas, said former President Donald Trump reached out after the church's historic sanctuary burned down.On Friday shortly after 6 p.m., Dallas Fire and Rescue received a call about a fire at the church's historic sanctuary, which had been in use since the 1890s. The fire eventually grew to a four-alarm blaze that took more than three hours to extinguish. Fortunately, no one was injured or killed in the fire.'If the SBC had a Notre Dame it would be FBC Dallas. This is heartbreaking.'The cause of the fire has not yet been determined, and the investigation into the cause — which includes the Bureau of Alcohol, Tobacco, Firearms and Explosives — is ongoing.But Pastor Jeffress, who is an ardent Trump supporter, told local media that he doesn't believe his support for the former president is behind the fire. More importantly, he said Trump is offering his support in the wake of the devastating fire."I don't believe my support for President Trump has anything to do with this fire," Jeffress told KTVT-TV. "I did receive a nice note from the president, who has spoken here before at our church. He offered his help to do anything he could."First Baptist Church Dallas was founded in 1868. Billy Graham was once a member, and the historic sanctuary has received visits from multiple presidents, including Woodrow Wilson, Gerald Ford, and George H.W. Bush. Today, about 16,000 Christians are members at FBC Dallas.The significance of the fire for Baptists cannot be overstated. Clint Pressley, the president of the Southern Baptist Convention, remarked that the church's historic sanctuary is the SBC's equivalent of Notre Dame."If the SBC had a Notre Dame it would be FBC Dallas. This is heartbreaking. Praying the Lord is merciful," Pressley said. But unlike the Notre Dame cathedral after a fire torched that historic sanctuary five years ago, FBC Dallas' historic sanctuary may have to be torn down if engineers determine the fire compromised the structural integrity of the building.Despite the bad news, Jeffress is maintaining a hopeful Christian attitude."As tragic as the loss of this old sanctuary is, we are grateful that the church is not bricks and wood but composed of over 16,000 people who are determined more than ever before to reach the world for the gospel of Christ," he said in a statement.Plus, the pastor is thanking God because thousands of students had been in the historic sanctuary not long before the fire broke out."That's a miraculous protection by God to spare not only those children but any lost lives," he told WTVT. First Baptist Dallas' historic sanctuary may need to be demolished, cause undetermined www.youtube.com Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!

A Georgia homeowner on Thursday detained at gunpoint an inmate who had escaped into the woods and had been on the run for three days.The Towns County Sheriff's Office said 39-year-old inmate Bruce Douglas Partin Jr. was on work detail Monday at the county dump when he escaped into the woods on Highway 288 around 2:30 p.m.But Kirby had a gun on him, and authorities said he drew his weapon and ordered Partin to the ground. Partin complied. The sheriff’s office deployed a drone and K-9 tracking dog with no success. Authorities said Partin was being housed in the Towns County Detention Center and was awaiting a court appearance on the following charges: purchase, possession, manufacture, distribution or sale of marijuana; theft by taking; probation violation; and burglary.Authorities added that Partin was spotted on a trail camera at the end of Ivy Mountain Road in the Fodder Creek area Tuesday around 1:20 p.m. The sheriff's office Facebook post includes a pair of images showing Partin in the woods.The sheriff's office added that Georgia State Patrol, Georgia Bureau of Investigation, and the Department of Natural Resources all utilized every resource, including aerial patrol and K-9 units, to assist with the search for and capture of Partin. Authorities added that he was still at large as of 4:40 p.m. Tuesday.CapturedThe sheriff's office said a resident on Fodder Creek Road in the Gander Gap area spotted Partin in his orange jail uniform around 5:15 p.m. Thursday and called 911. With that, authorities said sheriff's deputies saturated the area in search of the suspect.About two hours later, the sheriff's office said Steven Kirby — a resident who lives on Vester Road — was inside his home when Odie, his labradoodle, began aggressively alerting him to someone outside the residence.The sheriff's office said Kirby went outside, and Partin — who's 6 feet, 4 inches tall — confronted him. But Kirby had a gun on him, and authorities said he drew his weapon and ordered Partin to the ground. Partin complied. An image on the sheriff's Facebook page shows Kirby pointing a gun at Partin, who's facedown on the ground with his ankles crossed and his hands behind his back.Authorities said Kirby’s wife, Amy, called 911, and sheriff’s deputies quickly arrived on the scene to take Partin into custody just after 7 p.m. Online maps indicate Partin was captured around six miles southwest of the area where he made his escape.The sheriff's office said Kirby noted that he's committed to protecting his family and property from harm.Authorities said Sheriff Ken Henderson expressed gratitude toward the Fodder Creek community for their vigilance and assistance, but most of all to Kirby for his courage and willingness to act: “It is truly a pleasure to work in a community where we can count on the ongoing support of citizens like Mr. Kirby to stand behind us and, in cases like this, even physically aid us when necessary."What's more, the Kirby family on Friday received the $500 reward offered for information leading to Partin's arrest — and Steven Kirby and his dog Odie got a commendation. Image source: Towns County (Ga.) Sheriff's Office"Sheriff Henderson strongly supports the 2nd Amendment and the right to bear arms and was thankful that Mr. Kirby's instincts kicked in, and he went above and beyond to not only protect his family and property but his community as well," the sheriff's office Facebook entry said.Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!

Sure They Are! Brian Krassenstein Says Republicans Are Scared of Kamala, Gets Proven SO WRONG Instead

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