Archive for 2022

SETH BARRETT TILLMAN ON THAT MAR-A-LAGO ORDER:

Serves ’em right.

SHUT UP, THEY EXPLAINED: Court shuts down Novaya Gazeta, one of Russia’s last independent media. “Novaya Gazeta, a stalwart of Russia’s media scene since its foundation in 1993 with money from the Nobel Peace Prize of late Soviet leader Mikhail Gorbachev, had carved out a niche as Russia’s leading investigative news outlet, even as press freedoms were gradually rolled back.”

ANN ALTHOUSE: “I wish President Biden would support investigating the security of the mechanisms of American elections instead of demonizing the millions of people who feel skeptical. Why all the intensity against American citizens? It’s not going to decrease skepticism. Quite the opposite! We’re supposed to be so afraid of getting called ‘deniers’ or being lumped in with the minuscule segment of Americans who breached the Capitol that we will never dream of asking what are you hiding? Why can’t you check? Shouldn’t you be checking all the time?”

The simplest hypothesis is that they aren’t checking because they don’t want to know. Or don’t want us to know.

VODKAPUNDIT PRESENTS YOUR WEEKLY INSANITY WRAP: Antifa Thug Shoots at Old Man, Kills Antifa Thug.

Plus:

  • Get in touch with your inner frogself
  • The Purge: CNN
  • Kamala Harris and the grapes of wrath

So much more at the link, you’d have to be crazy to miss it.

“FROM HELL’S HEART:” Michael Walsh on that Biden speech. “The fact is, Biden is Fredo Corleone without the wit, charm, or brains.”

But the most damning part of this piece consists of the verbatim quotes from Biden’s speech.

KRUISER’S MORNING BRIEFING: The Mar-a-Lago Raid Looms Large for November. “The Democrats are obviously trying to use Trump as a shiny object to distract from the unmitigated disaster that is the Biden presidency. I agree that the potential for losing some votes if all of the talk is about Trump — especially since he’s not even on the ballot — is real.”

THE DOJ’S LEGAL WORK HAS BEEN EITHER SUBPAR OR OUTRIGHT DISHONEST HERE: Judge Appoints Special Master, Temporarily Bars FBI/DOJ Review Or Use Of Records Seized in Mar-a-Lago Raid.

Related: Judge throws Mar-a-Lago probe into chaos. “The Justice Department blithely assumed that Trump had no executive privilege even though this is an unsettled question in the law. When a salient point of law is unclear, the responsible course for prosecutors is to flag the issue for the court and get a ruling before taking controversial actions. Instead, in seeking the search warrant, DOJ advised Magistrate Judge Bruce Reinhart that the filtering process that would be implemented in connection with documents seized in the search would screen only for attorney-client privileged documents, not executive privileged documents. The latter category is apt to be considerably more expansive. It does not appear that DOJ alerted Reinhart to the possibility that Trump could have a colorable executive-privilege claim, and there’s no indication that Reinhart raised the question on his own.”

THAT WOULD BE NICE: The Inflation Tide Appears To Be Turning.

Alas, there is little reason to expect the Fed will continue to deliver a monthly core inflation rate of 0.1 percent. Although its average inflation target would seem to require reducing the gap between core PCEPI and the pre-existing 2 percent growth path, Fed officials do not intend to do that. Instead, they intend to see prices grow 2 percent per year on average beginning sometime after 2024. In the meantime, they project inflation will remain high, though not as high as it has been over the last year, with monthly core inflation around 0.2 percent and the gap between core PCEPI and the 2 percent growth path plotted from January 2020 slowly increasing in 2023 and 2024.

Of course, it is also possible that the Fed has not yet gotten a handle on inflation. It is hard to have much confidence with only one month’s worth of data. Perhaps the low core inflation rate observed in July is just a blip. It wouldn’t be the first time a one-month core PCEPI inflation reading prompted undue optimism. For example, the monthly core PCEPI inflation rate fell from 0.4 percent in August 2021 to 0.2 percent in September 2021. It then hit 0.5 percent for four consecutive months. Many incorrectly predicted that inflation would fall following the September 2021 reading when, in fact, it was about to surge.

Still, the most recent inflation data provides some scope for optimism. After a long delay, the Fed finally seems to be bringing inflation down. It doesn’t plan to bring inflation down quickly, nor to offset the high inflation we’ve experienced over the last year. But at least it does not intend to let prices continue to grow as fast as they have.

So the inflation tide isn’t really turning, it’s just moderated a bit.

EVEN THE ATLANTIC IS NOTICING: Biden’s Student-Debt Rescue Plan Is a Legal Mess. “The Biden administration’s recently announced plan to reduce student debt for borrowers who earn less than $125,000 is popular, according to recent polls. Unfortunately, the plan has a major legal flaw: The administration’s arguments for its executive power to make such a broad effort under federal law will likely lose—and should lose—in the courts.”

FALLOUT: Russia Privately Warns of Deep and Prolonged Economic Damage.

The document, the result of months of work by officials and experts trying to assess the true impact of Russia’s economic isolation due to President Vladimir Putin’s invasion of Ukraine, paints a far more dire picture than officials usually do in their upbeat public pronouncements. Bloomberg viewed a copy of the report, drafted for a closed-door meeting of top officials on Aug. 30. People familiar with the deliberations confirmed its authenticity.

Two of the three scenarios in the report show the contraction accelerating next year, with the economy returning to the prewar level only at the end of the decade or later. The “inertial” one sees the economy bottoming out next year 8.3% below the 2021 level, while the “stress” scenario puts the low in 2024 at 11.9% under last year’s level.

All the scenarios see the pressure of sanctions intensifying, with more countries likely to join them. Europe’s sharp turn away from Russian oil and gas may also hit the Kremlin’s ability to supply its own market, the report said.

But: Russian ambassador insists it is a reliable supplier of energy as it cuts off gas to Europe, plunging the continent into economic crisis.

It might become a case of who blinks first: Russia because of its need for hard currency or Europe because of its need for energy.

JEFFREY CARTER: Ignorance of Economics. “Trump did a lot of good things, but he wasn’t a particularly sharp President when it came to cutting government deficits and putting in place great long-term economic policies. The problem is when you put his policies up against the Democrats, Trump’s look sterling.”

To be fair, it’s a low bar.