Schaftlein Report | Rocket Weapons Better Late than Never

Topics: 1) Biden changes course and agrees to send mid-range rocket systems to Ukraine after promise by Zelenskyy not to target Russian territory a. Ukraine has pleaded for these weapons - Every day of delay by Biden causes more territory and lives to be lost b. Germany finally relented and also agreed to send more sophisticated weapons c. Meanwhile Russia is leveling cities in Donbas region in a repeat of Mariupol d. Putin fires 5 Generals 2) In a meeting with Federal Reserve chairman Powell and Treasury Secretary Yellin, Biden blames Covid, Tax Cuts, Putin, Meat packers, the poultry industry, credit card companies along with oil and gas companies for Inflation *What about his disastrous policies and Federal reserve miscalculation? At lest Yellin admitted she was wrong - She also said "Inflation is way too high and is hurting Americans" **Gas prices hit $4.67 highest ever 3) Biden's plan is as follows: a. Cool the labor market - Unemployment is at 3.6% and wage inflation is running 6% b. Biden tries to take credit for deficit cuts because the U.S. did not spend another $1.9T in 2022 that was spent in 2021 c. Build Affordable housing - This will have no effect on inflation d. Russia and China problems related to war, oil and supply chain issues e. Recession Fears 4) OPEC+ considers suspending Russia *China suspends some Russian flights because they stole leased planes from European customers 5) Quantitative Tightening Begins $17B for next 3 months then $30B - The Fed balance sheet is at $9T *Jamie Dimon warns of Economic hurricane coming 6) Clinton lawyer Sussman acquitted on charge of lying to FBI 7) Biden administration asks Court to Reinstate Mask Mandates on planes - Don't do this Joe - You'll only make fliers mad 8) Illinois school district will abolish standards for people of color with no penalties for missing assignments and misbehavior - WHAT? 9) While the focus of the country was on the 21 killed in Texas, 50 people were shot in Chicago and 9 killed over the weekend while 250 fire arms were confiscated *In the same period last year, 34 were shot and 3 killed