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Wolf Street: Joe Manchin, Democratic Senator from West Virginia, sent a letter today to Fed Chair Jerome Powell in which he, after the required good-job and thanks-for-saving-the-universe-as-we-know-it, hammered on Powell to get off the money-printing binge that is causing “the most inflation momentum in 30 years.”

“And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a ^[c]denarius, and three quarts of barley for a denarius …” Revelation 6:6

“With the recession over and our strong economic recovery well underway, I am increasingly alarmed that the Fed continues to inject record amounts of stimulus into our economy by continuing an emergency level of quantitative easing (QE) with asset purchases of $120 billion per month of Treasury securities and mortgage backed securities,” Manchin wrote.

“The Fed has sustained $120 billion per month in asset purchases since June 2020, despite increasing vaccination rates to combat the virus and additional fiscal stimulus from Congress in the ARP,” he wrote in the letter.

“The record amount of stimulus in the economy has led to the most inflation momentum in 30 years, and our economy has not even fully reopened yet,” he wrote. Read More

WND: It was Ronald Reagan who once said, the “nine most terrifying words in the English language are ‘I’m from the government and I’m here to help.'”

These days that might be reworded – “I’m from the government. I’m here with your vaccination.”

“And ye shall know the truth, and the truth shall make you free.” John 8:32 KJV

Vaccines never are guaranteed – that’s why the U.S. government makes their manufacturers immune to lawsuits over the damages and death they can deliver – and they especially are suspect when they are developed and delivered while the pandemic they confront actually is continuing.

The COVID vaccines now available in the United States also still are all considered experimental.

And there probably is no more clear an illustration of that uncertainty as the recent announcement from Carnival that there are positive COVID cases aboard its Carnival Vista cruise ship.

That’s because, according to The Liberty Daily, every staff member and every guest on the ship was vaccinated. Read More

CNBC: With consensus expectations calling for a July payrolls print of 858K and whisper numbers starting at 1 million and rising (and Goldman going so far as expecting 1.175MM), moments ago the BLS reported that in July payrolls came in at a goldilocks 943K, comfortably beating the consensus but below a print that could be considered a clear trigger for “substantial progress” although likely sufficient for the Fed to signal the start of tapering at Jackson Hole.

While payrolls were solid, the unemployment rate was stellar, sliding from 5.9% to 5.4%, beating expectations of 5.7% as the number of people employed according to the Household Survey soared by 1.043 million to 152.645 million as the number of people um

Validating the solid unemployment rate data, the civilian participation rate also rose modestly from 61.6% to 61.7%. Read More

PJ Media: Joe Biden can’t go a single day without issuing some edict on behalf of his leftist supporters. The man who ran as a moderate Democrat will reportedly push for about half of all U.S. cars to be electric just nine years from now.

President Joe Biden will set a new national target on Thursday for the adoption of electric vehicles, calling for them to represent half of all new auto sales by 2030, according to senior administration officials.

“He who trusts in his own heart is a fool,
But whoever walks wisely will be delivered.” Proverbs 28:26

The target is expected to be supported by companies such as General Motors, Ford Motor and Stellantis, formerly Fiat Chrysler. Executives of the Detroit automakers are scheduled to attend an event Thursday at the White House and pledge EV sales of between 40% and 50% by 2030.

Of course they will. They’re all rent-seekers now and seek to curry favor with the government that will buy up a whopping proportion of the EVs they make.

Toyota may remain notably quiet about this. The world’s largest automaker has repeatedly warned that our power grids aren’t ready to power billions of EVs.

Elon Musk has said the same, and he’s atop the world’s largest EV automaker, Tesla. Neither Toyota nor Tesla oppose EVs. Neither do I, for that matter. They just don’t think our grids are ready to power them without very significant investment and overhauls. Who is going to pay for that? Biden’s bloated infrastructure bill doesn’t address it.

The alleged moderate Biden isn’t done messing with your car. Read More