Napping..

 

President Joe Biden escalated weeks of sharp warnings to energy producers on Monday by floating a so-called "windfall" tax on their corporate profits, calling out major gas companies for racking up gains from a spike in prices he attributes to Russia's war in Ukraine.

"Record profits today are not because they're doing something new or innovative. The profits are a windfall of war," Biden said in brief remarks from the Roosevelt Room alongside Treasury Secretary Janet Yellen and Energy Secretary Jennifer Granholm.

The speech came as Americans face continued high prices at the gas pump in the final stretch of the midterm campaign season. Biden raised the possibility of pursuing the tax proposal, among other ideas, during hastily scheduled remarks at the White House Monday afternoon. It marked the latest in a series of policy and rhetorical efforts to battle high gas prices as Democrats brace for bruising midterm elections.

The White House causing all this trouble with the energy production since Biden came to office knowing that any fake talk cause a major price change. 

Chipmaking..

 

The United States reportedly is calling on the European Union to impose a semiconductor export ban on China – but Chinese officials and media doubt the Americans, simply by asking, can persuade the Europeans to give up a highly lucrative export market.

Bloomberg reports that the Biden administration is urging the EU to share information and coordinate enforcement to reinforce the United States’s bilateral restrictions on exports to China, similar to what the US and EU did to Moscow earlier this year.

Alan Estevez, US Commerce Department undersecretary for industry and security, said the US would soon sign an agreement with its allies to bring them on board with new rules curbing China’s access to sophisticated chipmaking tools.

We brought the European allies on the sanctions against Russia and the whole thing backfired on all the Europeans. Just a thoought.

Joe..

 President Joe Biden on Wednesday delivered a stark warning to Americans that the future of the nation’s democracy could rest on next week’s midterm elections, an urgent appeal coming six days before final ballots are cast in a contest the president framed in nearly existential terms.

As I stand here today, there are candidates running for every level of office in America – for governor, for Congress, for attorney general, for secretary of state who won’t commit to accepting the results of the elections they’re in,” Biden said. “That is the path to chaos in America. It’s unprecedented. It’s unlawful. And it is un-American.”

President Biden and the Democratic party don't want to accept the coming election after they screwed up the economy.  Just a thought.

Yelling

 

The nation's top treasury official isn't too concerned about a recession — but if it happens, the Federal Reserve will likely be to blame.

Inflation continues to soar, and the Fed's solution is to hike interest rates, intended to tame price growth by slowing economic activity. 

But the central bank has already raised rates five times so far this year, with the last three meetings featuring historically large 0.75% point hikes. This has lawmakers and experts concerned that acting too aggressively on inflation through raising those rates could trigger a recession.

But Treasury Secretary Janet Yellen said she doesn't "see signs of a recession in this economy at this point."

But Yellin is saying what the administration wants her to say. "Inflation was transitory" Best of luck. Just a thought.

The Fish..

 

Old..

 

age..

 

Poll..

 

Sanctuary..

 

CorK..