The Schaftlein Report - Producer Price Index Jumps 11.3% in July

1) Wholesale PPI increase of 11.3% is WAY too high and will bleed into an already accelerating Inflation with rising input costs. 2) Biden says June Inflation "Unacceptably high", but out of date. Is it possible it peaked - MAYBE? The risk is wage price spiral. 3) Excluding Food and Energy, the Core CPI was at 5.9%. Former Treasury Secretary Larry Summers characterized it as "Way too high and out of control" Summers warned of this a year ago. 4) Sen. Manchin throws cold water on a scaled back Build Back Better as Inflation is too much a risk for additional spending. The problem is the Biden administration and Democrats philosophically want to spend more on climate and other initiatives because that is their core belief. They care more about climate and social issues than inflation. They is the ultra leftist liberal administration policy staffers. The public is NOT with them. 5) Biden trip to Israel - Jeffrey provides a history and contradiction of the difference how Trump and Biden have approached the Middle East and the ramifications of policy changes. The success of the Abraham Accords and the relationship with Iran and Saudia Arabia. Biden says "We will not allow Iran to acquire a nuclear weapon". Also claims he supports Abraham Accords. 6) Trump strategy on when to announce his 2024 candidacy is hotly debated in Trump world and in Republican circles. Pros/Cons 7) Senator Marco Rubio leads Val Demings by 5-8% in Florida Senate race Warnock leads Walker 50-57%. Kemp leads Abrams 52-48% 8) Biden falls to 36% in CNBC polls. The lowest ever. Trumps lowest was 37%.