the DON JONES INDEX…

 

 

GAINS POSTED in GREEN

LOSSES POSTED in RED

 

  8/27/22...      14,954.56

  8/20/22...      14,962.90

   6/27/13…     15,000.00

 

 

(THE DOW JONES INDEX:  8/27/22… 32,283.40 ; 8/20/22… 33,706.74; 6/27/13… 15,000.00)

 

 

LESSON for August 27, 2022 – “INFLATION ESCALATION!”

 

With no great surprises in Tuesday’s primaries, November’s matches are more or less settled in place – Don Joneses from sea to shining sea will cast their ballots for shiny (or somewhat slimy) candidates for Congress, (some) Senators and statehouses and a pandemical panoply of downballot offices... all of which should matter to the constituents involved and some of which (primarily Secretary of State choices and a few other offices as will have the power to determine whether entire elections are legitimate or fraudulent) may be more hotly contested than the marquee matches.  (The remainder are noted as Attachment One, final tallies from New York and Florida as Attachment Two.)

Weighty issues seem to have sunk into their own blend of inertia.  The plague (and monkeypox, polio, West Nile, superflu, Lyme Disease, brain eating amoebas and Jewish space lasers) are somewhat quiescent, grist for the vaxxing researchers in their laboratories and healthcare workers in the trenches.  The Ukrainian war has also settled into a sort of stalemate (barring the explosion at the dysfunctional, but still dangerious, nuclear plant being used by Lootin’ Putin as a global shield), China continues to fire rockets around (but not on) Taiwan as Xi, like Putin, gratifies his ego and dreams of achieving Presidency For Life status (which dictatorial ambitions tend to backfire, as witness Saddam and Qadaffi).  Terrorists are more hunted than hunters, crime is more a matter of local concern (largely in neighborhood nobody really care about), the most recent wannabe active shooters and mass murderers have been quietly foiled by the FBI and only a few rabid MAGAnauts still talk about defunding or eliminating the FBI.  The Inquisition is on hiatus, Djonald Trump is preoccupied with three major state (New York, Georgia and Federal) threats and numerous minor legal mosquitoes and, just yesterday, the much-anticipated unveiling of the DOJ Mar-a-Lago affidavit proved a redacted bust, talking heads dismissing it as a “sea of black”.

So what will be the dominant issue of the midterms?

EZ breezy... it’s inflation.

Democrats will trot out promises and prognostications of better times to come, as well as the usual roster of excuses.  Republicans will stand and shriek and deny the reality of the criminality of their leading lights.

Democrats will point to a lessening of pain at the pump as the price of oil falls to eighty-eight dollars per barrel and, besides, it’s the fault of those gouging Alis and Achmeds behind the counter at the local Zelmo’s and Zippo’s.  Republicans will answer that prices are still exalted far beyond those of the glory days of their once and future King Trump.

Both will beg for money and selling shoddy (but not cheap) merch to the faithful... the better for which to purchase print, electronic and social media advertising (either of the bathetic or nugatory species) that will overwhelm (if not just plain disgust) the Jones family for the next ten weeks.

Yes, gas prices are down and there are bargains to be had as those thousands of cargo containers lost at sea during the supply chain crisis finally make it to port, to warehouses and, finally, to the local Target, WalMart and Kohl’s; but the cost of food, shelter and medical attention (for the time being, until President Joe’s IRA kicks in) will continue to escalate.

And there’s always the weather.

Inflation, though, remains on the minds of the Joneses, and will probably determine the course of the next two years, and the decades after.  With its August report just around the corner, the genially tardy Bureau of Labor Statistics (see select items on the chart below) reported that July’s numbers were unchanged on a seasonally adjusted basis after rising 1.3 percent in June as a consequence of gas prices falling 7.7 percent to offset increases in the food and shelter indexes,resulting in the all items index being unchanged over the month.

Over the last 12 months, the all items index increased 8.5 percent before seasonal adjustment.

Consequently, Pew Research asserted that “... (t)he public views inflation as the top problem facing the United States – and no other concern comes close.”  (See a summary as Attachment Three, the full report with all its nifty charts and graphs here.)

Their “dirty dozen” bummer factors... broken down by the usual survey chimp chimp categories of “A Very Big Problem”, “A Moderately Big Problem”, “A Small Problem” and/or “Not a Problem At All” found that 70% of the Joneses called Inflation “very big”.  A distant second was claimed by the affordability of health care (55% very big)... in and of itself a sort of sub-category of inflation (although vexing vaxxed and refusenik Americans for a long, long time, dating back to Obamacare and before.

Violent crime and the Federal budget deficits followed.  Due to the “booming” economy (perhaps more a consequence of a lack of workers due to a mismatch in skills, aging out of experienced employees and the lingering Long Covid problem), the second component of the fabled Misery Index... Unemployment... bothered only 23 percent of the Joneses, finishing next to last on Pew’s list, leading only the plague itself.

How the mighty quandaries have fallen!

Although the survey was conducted in late April and early May, the war in Ukraine... fingered by many as a cause of inflation, at least for gas and, perhaps, food... was not mentioned (this week’s near Chernobyl due to the shelling of the shut down Zaporizha nuclear plant being used as an arms depot in Putin’s War could perhaps alter future Pew findings), nor were foreign affairs in their entirety.

Broken down by respondents’ political leanings, inflation remained atop the worry list although more Democrats (84% t0 57%) stated that the problem was Very Big.  While it also led the list of G.O.P. concerns, Republicans... as a group... were far more inclined to practice a “don’t worry, be happy” approach to life.

“Democrats are nearly four times as likely as Republicans to rate climate change as a very big problem (63% vs. 16%). Republicans, by contrast, are far more likely than Democrats to view illegal immigration as a very big problem (65% vs. 19%).

“A much narrower majority of Democrats and Democratic leaners (57%) view inflation as a very big problem. Among Democrats, larger shares see gun violence (70%), the affordability of health care (65%) and climate change (63%) as very big problems.

“Neither Republicans nor Democrats widely view the quality of public schools as a major problem. Four-in-ten Republicans (41%) and a similar share of Democrats (36%) say this is a very big problem for the country,” the respondents stated.

The YouGov researchers determined inflation to be a slightly lesser problem to Americans... 64% calling it a “very serious” (as opposed to “very big”) problem in the United States, with Democrats more concerned by an identical margin to the Pewsters (85% to 58%).

In a further sign of a negative outlook on the economy, most Americans also continue to see the U.S. as currently in a recession (58% say that this week). Americans are also about three times as likely to say the economy is shrinking (49%) as growing (16%) and that: “...(a)bout one in three Americans see Biden as having a lot of responsibility for movement of the stock market, and about the same proportion say he has a lot of responsibility for the change in joblessness, with slightly more saying he has a lot of responsibility for inflation. In general, the worse a person sees the situation in each of these three economic areas, the more likely the person is to give Biden the lion’s share of responsibility.”  (See Attachment Four)

CNBC’s July 18th autopsy of the American economy augurs a similar disaster for the donkeys in November.   With Americans feeling crushed beneath the weight of rising prices, Biden’s economic approval dropped 5 points from the prior survey in April to just 30%. The president’s economic record is supported by just 6% of Republicans, 25% of independents and 58% of Democrats, a very low number for his own party.

Americans are employing a variety of means to make ends meet amid high inflation, the network noticed.

“Some 65% of those polled say they are cutting back on entertainment, such as eating out or going to movies and concerts. Among participants, 61% report driving less and 54% say they are reducing travel. More than 4 out of 10 are spending less on groceries. A third are using credit cards more often, which could mean higher interest payments if they don’t pay off balances. The survey found 47% of the participants say they are taking at least four of these measures.

“With gas prices high, 50% of the public say they support relaxing environmental rules to ease prices at the pump with 42% opposing, and 58% favor a tax on oil company profits rebated back to consumers.”  (See excerpts of their programming as Attachment Five, and the complete survey at...

 https://fm.cnbc.com/applications/cnbc.com/resources/editorialfiles/2022/07/18/FI14255b_CNBC_AAES_Q2_Topline.pdf

 

As ever, the racial justice activists have been hopping, according to NPR (Attachment Six).

“Having enough money for even basic necessities is a challenge for many households,” the public programmers concluded.  “About a third of Black and Latino adults say they are having serious problems affording food, compared with 21% of (lower case) white adults. It's highest for Native Americans,” NPR noted, “(n)early 40% are struggling to put food on the table.”

"It reminds me of a statistic I'd read from the 1800s," said Mary Findling, assistant director of the Harvard Opinion Research Program at Harvard T.H. Chan School of Public Health.

"That's a lot of people who can't afford to eat in America in 2022."

national poll — from NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health — poll did not find the same disparities between Asians and white adults as it did among Black, Latino and Native Americans. However, when just lower-income Asians were included — people who earn under $50,000 a year — 46% said they are facing serious financial problems. Specifically, nearly a third of that subpopulation had serious problems paying the rent or mortgage and 28% had serious problems affording food. About half say that a lack of good jobs is a serious problem in their community.

NPR also cited evictions, medical care and declining educational achievements and public safety as being a part of the post-pandemic plagues plaguing American minorities.

“Taken together, the poll makes it clear that racial and ethnic minorities are struggling to keep up while navigating the increasingly tenuous economic situation and the aftershocks of the social upheaval brought on by the COVID-19 pandemic.

"When you think about where we are compared to the beginning of the pandemic, so many people are not better — they're actually even worse off than we were 2 1/2 years ago," says Findling.

 

More and more Joneses as took the sixth grade math are looking at the the grocery and big box prices, ponder the falling gas prices and re-linked supply chain causing a surplus of foreign goods (like almost-autumn garden gnomes with the faces of... pick one: President Joe or the Bern, Mike Pence or Paul Gosar... back-to-school clothes no self-respecting kid would want to be caught dead in or cheap pirate CDs of that Korean boy band BTS, but titled BTK) and come to a certain un-American conclusion...

Somebody’s gouging us!

A few astute and opportunistic politicians are themselves taking advantage of the fear and loathing... a distinguished gentleman from Gotham, Rep. Jamaal Bowman (guess from which party) proposes that “a subgroup of the existing Supply Chain Disruptions Task Force (advise) the White House on how to respond to high costs and volatility, and would empower President Biden to recommend setting ceilings and floors on prices.”   (See Attachment Seven)

Advise?  Well, it is Congress after all... where five balky donkeys or one rogue Senator can zip lips and sink ships (even though the price, if not wage controls, are straight out of 1969... Nixon’s 1969).

 

          Sing along with us... “Na na hey hey! Kiss him (or, in the case of Liz Cheney, last week) her Goodbye!”

 

Bowman wants the sub-task force to “be granted subpoena power to examine corporate earnings and expenses, focusing on five sectors: housing, health care, food, energy, and transportation.”

He’s been a busy fellow… back in January Bowman and Sen. Ed Markey (D-Ma) introduced the Heating and Cooling Relief Act, with the specific purpose of ending energy poverty in the United States for low and moderate income families. The intent of the bill is simple: lower income families would no longer have to struggle to pay unaffordable home energy bills. The bill would also establish a “just transition” grant program to ensure lower income households do not get left behind during the clean energy transition by helping them move away from fossil fuels through home retrofits, decarbonization, and renewable energy.

“Energy is simply unaffordable for lower income families,” according to Mark Wolfe of The Hill (1/29/22. See Attachment Seven)

Last month the Census Bureau reported that for families with incomes of less than $35,000 a year, about 51 percent said that they reduced or went without basic household necessities, such as medicine or food, in order to pay an energy bill. There is nothing surprising about this data. Low income families struggle to pay for basic needs, including energy. They cannot afford to have their power shut off and will go without food and medicine in order to pay the bill.

 

The Low Income Home Energy Assistance Program (LIHEAP) is the primary federal effort designed to help families pay their home heating and cooling bills, but the program has been underfunded for years and reaches fewer than one out of six eligible households. As a result of limited funding, we have watched families fall further and further behind on their home energy bills during the pandemic. And even with supplemental funding for LIHEAP, outstanding energy arrearages have remained stubbornly high, at about $22 billion.

 

The Markey/Bowman bill would increase funding for LIHEAP, with a goal of reaching all eligible households by setting the authorized funding level at $40 billion a year, up from a current authorization level of $5.1 billion and an appropriation level of about $3.8 billion. The additional funding would increase the eligibility ceiling from the greater of 150 percent of the federal poverty level or 60 percent of state median income to 250 percent of the federal poverty level or 80 percent of state median income, thereby increasing coverage to low and moderate income families, not just to the poorest families in the country.

Existing legislation like the Heating and Cooling Relief Act or national rent controls are deemed unlikely to pass Congress, but housing groups say they could be a useful tool to push for rent relief.  “We need people in the president’s administration talking about the rent,” Tara Raghuveer, the director of Kansas City Tenants, told the American Prospect of her group’s support for the bill. (See Attachment Eight and next Lesson’s Labor Day special on wage, price and rent controls.)  “I’m not holding my breath that Congress is going to act quickly on this, or much else, right now,” Raghuveer admits, “but we’re going to use this as part of our organizing strategy to push for additional vision and creativity among members of the Biden administration, to explore every avenue they have to institute rent regulation.”

Food, even more than rent, is on the minds of not only poor but working and middle-class Americans, and prices on the shelf... perhaps more importantly than at the pump, given the slow, but welcome normalization of prices for oil by the barrel in November will determine whether government controls have any chance in Washington or whether a red tide will allow the market to do as it wishes.

The Don Jones Index has been using select items from the monthly statistics compiled and issued by the Bureau of Labor Statistics (see below and an expanded listing from http://www.bls.gov/news.release/cpi.nr0.htm as Attachment Nine,)

Other determnants include the FAO Food Price Index (FFPI), which is a measure of the monthly change in international prices of a basket of food commodities. It consists of the average of five commodity group price indices calculated monthly and averaged 140.9 points in July 2022, down 13.3 points (8.6 percent) from June, marking the fourth consecutive monthly decline. Nevertheless, it remained 16.4 points (13.1 percent) above its value in the corresponding month last year.

“The July decline was the steepest monthly fall in the value of the index since October 2008, led by significant drops in vegetable oil and cereal indices, while those of sugar, dairy and meat also fell but to a lesser extent.”  FAO.org... see yearly indices since 2004 as Attachment Ten and, alternately, the numbers from Trading Economics as Attachment Eleven.

Food prices, like those of shelter, gasoline and other commodities, vary from state to state, locality to locality and nation to nation depending on a number of factors including transportation and related costs, access, taxes, government regulations (or their absence) and geopolitical considerations.

A comparison of the best and worst states for inflation was made by NewsNation in mid-July.  Not surprisingly, the states that are managing inflation the best, according to financial writer Nick Smith (July 15th, See Attachment Twelve) are “the states where it is least expensive to live because historically, inflation has been the cheapest in those states. That’s due to a combination of factors, including regional inflation rates from the federal government to the cost of living index.”

Perhaps coincidentally, perhaps not, the top ten states (see also CNBC’s exclusive America’s Top States for Business study two days earlier with more statistical details) are all red to deep red, the worst states are blue (with the exception of Alaska which... like Hawaii, the worst state... is impacted by geographical factors).

This is a rise of 3 percentage points from May. The growing concern about inflation comes during a global cost of living crisis and surging inflation in many economies around the world

 

Internationally, food price hikes are far exceeding overall inflation, “with low- and middle-income countries getting hit hardest — though prices are high across the globe” according to an August first food security update by the World Bank that, said devex.com, “included a list of nations seeing the worst price increases,”.... the steepest of which was Lebanon, where prices jumped by a whopping 122% over the course of the year.

“About 94% of low-income countries, 89% of lower-middle-income countries, and 89% of upper-middle-income countries have nominal food inflation levels above 5% compared with the previous year,” declared the World Bankers.

War was predominant in the worst cases... either directly as in Lebanon’s civil war or conflicts in Afghanistan, Somalia or Yemen... or as a consequence of the cutoff of Ukrainian grain supplies that have kept drought-ravaged economies (particularly in Africa) from descending into mass chaos and starvation.

“Eastern and southern Africa will likely see conditions worsen in the coming months. South Sudan and Sudan face the risk of famine, and the Democratic Republic of Congo and Ethiopia are also seeing food security deteriorate,” predicted the World Bankers surveyed by Devex.  (See Attachment Thirteen)

They advocated that “richer nations” (meaning the taxpayers therein) should increase handouts to the worst cases... perhaps saving lives, but also reducing their populations to a perhaps permanent status of beggars.  Fortunately, their survey took place before a (partial) resumption of grain shipments as brokered by the United Nations, which resumption might bring (partial) relief to those afflicted with the famine.

Otherwise, it’s “pray for rain”.

(Although, as drought-ravaged Texans found out this week, sometimes answered prayers bring worse outcomes than the unanswered kind!)

We have also included year by year stats from the Consumer Price Index (Attachment Fourteen) and global inflation rates from Trading Economics (Attachment Fifteen) for obsessive compulsives.  Some places are doing better than America, others doing worse.  Things look bleak for Lebanon, Turkey, Venezuela and a few other places.  (No data was collected for Afghanistan because anybody trying to collect data would probably have been shot.)

 

AND… OH, YES… THERE WAS AN ELECTION on TUESDAY…

Incumbents in New York and Florida cruised to victory... in the only contested races, a gerrymandered “Seinfeld” district on Gotham’s Upper West Side sent the liberal Jerrold Nadler back to Washington, despite allegations by former comrade Carolyn Maloney that the gentleman was “senile”.  Both, as befits liberal Democrats, ran on identity: Nadler threatened that, if he were defeated, New York would have... gasp!... NO Jewish Congressmen while Maloney, besides accusing Nadler of senility, ordered constituents to vote for her because she was a woman.

They didn’t.  Strike up the have-a-tequila, Carol.

And down in the (humid as opposed to dry) Sunshine State, former Republican Governor Charlie Crist won the Democratic nomination to square off against unopposed incumbent and potential Trump challenger in 2024, Ron deSantis.

 

 

 

August 20th – August 26th, 2022

 

 

Saturday, August 20th, 2022

Dow:  33,706.34

 

 

It’s World Honeybee Day.

   Senate Minority (numerical not racial) Leader Mitchy Mac de-escalates his midterm optimism and pours vinegar, not honey, over MAGAdreams by implicating Oz, Vance, Herschel and perhaps others in his contention that control of the House and the Senate will rest on “the quality of the candidates.”  Uh-oh!

   The DoJ, FBI and other gumment gumshoes block release of unredacted Mar-a-Lago search and seizure affadavits on the grounds that public knowledge would compromise the national security and law enforcement personnel targeted by MAGAmurderers.  Trump’s new legal team (including old hands Dan Scavino and Lynn Patton as well as new faces Alan Futurfas, Drew Findling, the sanguinary Alina Habba and Christina Bobb as well as optimistically monikered Donald Trusty... no Rudy however, he’s got problems of his own!) contend the usual contention - that Ol’ 45 is being persecuted by the liberal witch hunters. 

   The Taliban “celebrate” their first year in power, but without food, they have to settle for just torturing more women and complaining about the even more savage savages at ISIS-K who aim to overthrow them as a bunch of pro-American, anti-Islamic pussies. 

 

 

 

Sunday, August 21st, 2022 Dow: Closed

 

 

Now, it’s National Senior Citizens’ Day.  Inspirational media morsels highlight old people doing young people things with cut grand and great grandchildren, parties and puppies.  (The 79 year old grandfather shot while walking his dog and 88 year old grandma mauled to death by different dogs while walking home are not among these.)

   Putin’s war in Ukraine “celebrates” its six-month-anniversary with stalemate at the front, attacks on the homeland as his inner circle suffers from sanctions and worse... a car bomb incinerates the daughter of the manifesto machine Alexander Dugin – the spook described as the canker in Mad Vlad’s “brain”... and more American money promised for things and stuff to kill more Russians.  Zelensky denies responsibil – claims it was either a hit by the Russian mob for its own reasons, or a false flag to excuse more atrocities against Uke civilians,

   Mother Nature’s terror against the planet continues – flash floods trap 150 tourists in Carlsbad Caverns NM, Dallas experiences the most rain in a century – six inches in an hour cutting its yearly deficit from ten to four inches as an Uber driver is swept away and drowned while on the phone saying goodbye to her family.  Eurodrought continues and spreads across the South Atlantic to Brazil to destroy the coffee crop, leading the world to lose its morning wake-up drug.  Try meth?

 

 

 

Monday, August 22, 2022

Dow:  33,063.71

 

 

   More Mar-a-Lago lawyering as the Inquisitors remain deep in sleep until fall... Rep. (and failed Presidential candidate) Eric Swalwell (D-Ca) exhumes video of Trump rally Russo/rabble-rousing speeches while Republicans counter by asking whether publicizing the affidavit is in the”imminant” national interest or just chow for the tabloids.  Experts predict the redacting reductions of document contents will allow Don Jones to see only “a sea of black.”

   Speaking of which, ships of Ukraine grain

   Monkeypox in New York said to be hitting blacks, Latinos and gay men (93% but down from 97%) the hardest.  The Last Monkee, Mickey Dolenz, goes on tour with a “tribute band” as The Monkee and tells those hungry tabloids that he and the dead Monkees were paid only a flat $400 a week during their career... concert (and vinyl?) revenues included).  And a Monk is hired to officiate at Bennifer’s second (third?) hitchup at a ritzy White Wedding at Ben’s Georgia estate.

 

 

 

 

Tuesday, August 23, 2022

Dow:  32,909.59

 

 

 

 

 

It’s Election Day in Florida and New York and not only the former’s population of Castro Un-convertables but partisan pimps promote downballot issues like a repeal of rent control in the Sunshine state, which Linked-In lobbyists call Communist (or at least “socialized”)... see Lesson above and Attachment x8, 9.  Up in Gotham’s gerrymandered West Side (“Seinfeld” territory back in the days when comedians, mailmen and whatever George and Elaine were working at at the time could afford rents), old-times East Sider Rep. Carolyn Maloney (76) calls her younger comrade Rep Jerrold Nadler (75) “senile.”

   The CDC surveyors find that life expectancy in America is down by 2 years over the last two years.  They blame the plague and drugs, but pass over gun violence... even though different survey surveyors from Surveyland say that domestic violence is up over 30% over the same period.  TV coroners complain that they are so swamped with killings... intimate and other... that “we’re just shuffling bodies around.”

   Corrections communicators allege that pot use among 20-somethings is up to 43%... the highest since the Eighties, and resulting in deaths as pot is the “gateway” drug to fentanyl and users are bringing back rave-ish large gatherings that promote plague and attract active shooters like the troubled 31 year old boy, Jonathan Moody, who loaded up his arsenal and slithered up to the Bass Canyon festival in Washington State

   And Parkland school shooter Nicholas Cruz, according to his lawyers, was traumatized by his childhood by a drunk (and presumably pot-smoking) mother so he should be released back into the wild to go wilding again.

 

 

 

Wednesday, August 24, 2022

Dow:  32,969.33

 

 

 

 

 

 

It’s National Waffle Day.  Pour some honey on it while you still can.

It’s also Ukrainian Independence Day and the six month anniversary of Putin’s war... the Russian dictator, still steamed over the assassination attempt on his brain, Dugan that killed, instead, his daughter (or perhaps smiling at the false flag fakery that will permit Russia to commit more atrocities against civilians and ruin the party).

Record rainfall (that sweeps a Uber driver to her death while she’s on the phone saying goodbye to the family) pounds bone-dry Texas but not before discovery of dinosaur traces (not bones, yet, but footprints) in dry riverbottoms that are an estimated 100+ million years old.  Mob hit?  Scientists say we’ll probably never know because the deluge will wash them away.

Educators worry about lowered reading scores among the Youth of America.  TV bookwriter Maya Payne Stewart (“Reading for Your Lives”) points the finger of shame at parents so busy with their own devices that they lack time to teach 3 year olds how to read.

Ballot counters count the ballots and read the results...Nadler wins his primary in New York, Crist in Florida and on towards November they go with nary a hint of fraud and conspiracy.  Then again, both are Democrats.  Democrats know how to lose.

 

 

 

Thursday, August 25, 2022

 Dow:  33,291.78

 

 

 

 

 

Not OK Brandon (Ms) with ten inches of rain in two days & an overflowing Pearl River.  Opposite bad weather... scorching heat in the normally cool Northwest.

Death from above strikes Ukrainian Independence Day and six month anniversary of the start of Putin’s War... 25 killed in bombing of train station and Mad Vlad calls up 137,000 more soldiers to replace those killed by Ukes, who shut off Zappo nuke plant 19 minutes from Chernobyl Two.  On our side, U.S. air strikes obliterate more Iranian-backed Syrian militia terrorists.  President Joe makes a speech denouncing Republicans as “semi-fascists”.  (Their concentration camps have comfortable pillows and high cuisine. – DJI)

And terror at home strikes voters lined up at NY polling place... woman hit, shooter and his or her partisan affiliation unknown.  (It was you, Nadler...don’t deny it! – DJI)  Presumably apolitical (or not?) gunmen kill two at Kentucky homeless shelter, four (including a cop) in Tucson.  Always ready to protect and serve... Alabama police arrest black pastor for watering his neighbor’s garden and not showing ID... when his wife brings it out, the brave cops say: “We can’t un-arrest him.”

 

 

 

Friday, August 26, 2022

Dow:  32,283.40

 

 

 

It’s National Dog Day.  Harry and Meghan adopt one of the 4,000 beagles rescued from a medical research breeding lab (3,000 already saved).  But it’s a Dog Day Afternoon for the economy when Fed Chair Powell speaks “tough words” and promises “pain” to fight inflation (and doesn’t even raise the interest rate!)... the Dow, nonetheless, drops over a thousand points.

The other bombshell is more of a dud... the DOJ releasing its Mar-a-Lago search and seizure affidavit; more than half redacted in order to, as they say, protect “clandestine human sources” in Trump’s inner circle (aka spies and rats).  Those “fruits of crime” include 184 documents, exactly half of which (92) are classified “secret” and 25 of which are “top secret”.  Djonald Unashamed says that anything criminal was planted by the FBI.

It’s a large day for the law... Moderna suing Pfizer for allegedly stealing their vaxxing formulae and whining that they made only half the profits (1.8B) off the plague that the P-people did (3.6B).  Vanessa Bryant wins judgment against L.A. for circulating gruesome pix of Kobe’s crash and donates it to charity.  Other athletes face rape charges: George Foreman, now in his 70’s back in the 70’s and the Buffalo Bills’... punter?... while tennis star Djokovic banned from U.S. Open where Serena is playing her final match on Monday (unless she wins – she’s down to 418th).  And Church Police in Louisiana prohibit a pregnant woman carrying a dead baby from life-saving abortion. 

Deep in the heart of Texas, next door, Uvalde fires despised Chief Arredondo (who calls it a lynching) and the U. of T. celebrates President Joe’s college debt forgiveness by offering courses on Taylor Swift.

 

 

 

The Dow so close to record heights.  The Don so close to parity with 2013.  All hope flown as Fed Chair Powell growls and both go down.  His snarling is allegedly meant to fight inflation, but inflation keeps rising.  We reiterate:   Isn’t it time for national wage and price and rent controls?  I mean... if f***ing Nixon could do it, why can’t President Joe (who does, at least for the next few months, have a legislative majority?)  See Bowman/Markey legislation, above.

 

 

 

 

 

THE DON JONES INDEX

 

CHART of CATEGORIES w/VALUE ADDED to EQUAL BASELINE of 15,000

(REFLECTING… approximately… DOW JONES INDEX of June 27, 2013)

 

See a further explanation of categories here

 

ECONOMIC INDICES (60%)

CATEGORY

VALUE

BASE

RESULTS

SCORE

OUR SOURCES and COMMENTS

 

INCOME

(24%)

6/17/13 & 1/1/22

LAST

CHANGE

NEXT

8/20/22

8/20/22

SOURCE

 

Wages (hrly. per cap)

9%

1350 points

8/20/22

+0.44%

9/22

1,381.63

1,381.63

https://tradingeconomics.com/united-states/wages   27.57

 

Median Inc. (yearly)

4%

600

8/20/22

+0.03%

9/3/22

603.59

603.77

http://www.usdebtclock.org/   35,979 990

 

Unempl. (BLS – in mi)

4%

600

8/20/22

+2.86%

9/22

651.46

651.46

http://data.bls.gov/timeseries/LNS14000000/  3.5%

 

Official (DC – in mi)

2%

300

8/20/22

-0.15%

9/3/22

303.60

304.07

http://www.usdebtclock.org/      5,856 847

 

Unofficl. (DC – in mi)

2%

300

8/20/22

-0.02%

9/3/22

295.33

295.38

http://www.usdebtclock.org/    11,466 464

 

Workforce Particip.

   Number

   Percent

2%

300

8/20/22

 

-0.004%           +0.007%

9/3/22

 

 

299.65

 

 

299.67

In 158,167 176  Out  99,909  925 Total: 258,101

 

http://www.usdebtclock.org/ 61.28

 

WP %  (ycharts)*

1%

150

8/20/22

+0.16%

8/20/22

149.76

149.76

https://ycharts.com/indicators/labor_force_participation_rate  62.10

 

 

OUTGO

15%

 

 

 

Total Inflation

7%

1050

8/22

 nc

9/3/22

1010.64

1010.64

http://www.bls.gov/news.release/cpi.nr0.htm     +0.0

 

Food

2%

300

8/22

+1.1%

9/3/22

289.34

286.15

http://www.bls.gov/news.release/cpi.nr0.htm     +1.1

 

Gasoline

2%

300

8/22

-7.7%

9/3/22

221.46

238.50

http://www.bls.gov/news.release/cpi.nr0.htm      -7.7

 

Medical Costs

2%

300

8/22

+0.4%

9/3/22

293.45

292.28

http://www.bls.gov/news.release/cpi.nr0.htm     +0.4

 

Shelter

2%

300

8/22

+0.5%

9/3/22

293.46

291.99

http://www.bls.gov/news.release/cpi.nr0.htm     +0.5

 

 

WEALTH

6%

 

 

 

Dow Jones Index

2%

300

8/20/22

-4.22%

9/3/22

280.81

268.95

https://www.wsj.com/market-data/quotes/index/   32,283.40

 

Home (Sales)

(Valuation)

1%

1%

150

150

8/20/22

-6.05%             -2.93%

9/3/22

154.06

309.58

154.06

309.58

https://www.nar.realtor/research-and-statistics

Sales (M):  4.81 Valuations (K):  403.8

 

Debt (Personal)

2%

300

8/20/22

+0.13%

9/3/22

290.69

290.32

http://www.usdebtclock.org/    70,770 859

 

 

NATIONAL

(10%)

 

 

 

Revenue (trilns.)

2%

300

8/20/22

+0.23%

9/3/22

324.61

325.34

debtclock.org/       4,430 440

 

Expenditures (tr.)

2%

300

8/20/22

+0.35%

9/3/22

330.07

331.24

debtclock.org/       5,961 940

 

National Debt tr.)

3%

450

8/20/22

+0.27%

9/3/22

443.46

442.28

http://www.usdebtclock.org/    30,656 738

 

Aggregate Debt (tr.)

3%

450

8/20/22

+0.18%

9/3/22

438.19

437.40

http://www.usdebtclock.org/    92,118 284

 

 

 

 

GLOBAL

(5%)

 

 

 

Foreign Debt (tr.)

2%

300

8/20/22

+0.08%

9/3/22

322.30

322.04

http://www.usdebtclock.org/   7,482 488

 

Exports (in billions)

1%

150

8/20/22

+1.60%

9/22

163.46

163.46

https://www.census.gov/foreign-trade/index.html  260.0

 

Imports (bl.)

1%

150

8/20/22

+0.29%

9/22

153.99

153.99

https://www.census.gov/foreign-trade/index.html  340.4

 

Trade Deficit (bl.)

1%

150

8/20/22

-7.41%

9/22

210.77

210.77

https://www.census.gov/foreign-trade/index.html    79.6

 

 

 

SOCIAL INDICES  (40%) 

 

 

 

ACTS of MAN

12%

 

 

 

World Affairs

3%

450

8/20/22

  -0.2%

9/3/22

466.44

465.51

France now bribing drivers to trade their cars for E-Bikes.  Ooh La Lousy idea!  Eurodrought termed worst in 500 years, early harvest of champagne grapes recommended or no New Years’ bubbly.

 

Terrorism

2%

300

8/20/22

+0.3%

9/3/22

296.30

297.19

Taliban find more radical ISIS-K denouncing them as TINOs (terrorists in name only).  21 killed as gunmen storm hotel in Mogadishu.  Nobody killed after mass murder wannabe busted at Washington State festival (see above) and San Antonio man arrested before he can shoot up a GOP youth conference in Florida.  Wonderers wonder if Russian car bomb killing Putin’s brain’s daughter  (also above) was a false flag fraud.

 

Politics

3%

450

8/20/22

+0.1%

9/3/22

465.52

465.99

Nadler and Crist win their Dem primaries (above). Latest Trump lawyer Trusty (also above) calls for a Special Master to deal with his own Master’s unwanted affidavit redactions and reductions as heavily redacted copies hit the public with... uh, boredom.

 

Economics

3%

450

8/20/22

 +0.2%

9/3/22

438.83

439.71

President Joe offers $10K student loan rebates to graduates making under $125K/yr., gets it from both sides... Republicans complain about debt, Democrats about fairness.  Wife Dr. Jill just gets it (rebound plague).  Overstocked retailers start early Labor Day sales.  As do striking Ohio and Washington teachers, Omaha railworkers and Minnesota nurses.  FDIC cracks down on crypto scams.

 

Crime

1%

150

8/20/22

   -0.2%

9/3/22

288.78

288.20

The usual round of shootings, stabbings and stealings enhanced by Bad Cops... Deputy Dawg screams at and handcuffs pregnant woman in front of horrified kiddies, Alexandria VA blue meanies bust pastor for watering flowers while black and Church Police in Louisiana (above) force pregnant woman to carry, despite medical evidence that the foetus has no skull (see both above).

 

ACTS of GOD

(6%)

 

 

 

Environment/Weather

3%

450

8/20/22

    -0.2%

9/3/22

440.27

439.39

California enacts ban on all gasoline powered cars by 2035... 17 other states (guess which color) promise to follow.  Too late for the killer floods that sweep over drought and fire destinations.  EPA bans “forever chemicals” as... ready?... hazardous!

 

Disasters

3%

450

8/20/22

  -0.3%

9/3/22

443.60

442.27

32 killed in Turkish car and bus crashes.  Five hurt in Jersey roller coaster crash.  Six year old girl escapes kidnapper on the street.  Brazilian drought will lead to coffee shortage and higher prices, and soon!  Hoard now!

 

LIFESTYLE/JUSTICE INDEX

(15%)

 

 

Science, Tech, Educ.

4%

600

8/20/22

  +0.2%

9/3/22

618.52

619.76

Twitter admits its workers were stealing and selling Big Data on users... Trump?  Musk?  “Space Dragon” full of ISS gear lands safely in Florida; NASA releases more “oh wow!” Webb pix of Jupiter and plans Artemis “Dark Side of the Moon” launch on Monday.  Ohio teachers go out on strike while Missouri schools bring back corporal punishment.

 

Equality (econ/social)

4%

600

8/20/22

  +0.3%

9/3/22

591.60

593.37

“Moral” Gravity CEO Dan Price accused of multiple rapes.  Not so moral after all!  Q-Anon’s MTG swatted by cops, presumably called by transgender teenagers she’s been denouncing.  Proud Boys lost in the wilderness after expulsion from FaceBook.  (But who will admire my swastika patterned petunias?)

 

Health

4%

600

8/20/22

nc

9/3/22

488.92

488.92

Wendy’s pulls e-colic lettuce, Kia and Hyundai recall vehicles with the bad habit of catching fire.   Dr. Fauci turns 81, says he will not retire, but will “step down”.  Lesser doctors say that half of all plague victims never realize they have it as Pfizer fights off Moderna lawyers and promises to ship “bivalent” (works on all strains) vaxxes by fall.  16M now said to have long Covid, 4M of whom can’t work.  And 13 (thirteen!) kids now have monkeypox.  Other hardworking docs from the Amer. Assn. of Dermatologists say Minoxiden blood pressure medicine will cure baldness while Stem Cellars grow closer and closer to creating artificial mice.

 

Freedom and Justice

3%

450

8/20/22

+0.3%

9/3/22

452.19

453.55

The ISIS Beatle (named for his British accent) gets 8 life terms for murders in Virginia.  Two wannabe kidnappers of Mich. Gov. Whitmer convicted and locked up, but Harvey Weinstein is seeking freedom with a new round of appeals.  Vanessa Bryant donates Kobe crash settlement to charity.

 

 

MISCELLANEOUS and TRANSIENT INDEX

 

 

(7%)

 

 

 

Cultural incidents

3%

450

8/20/22

+0.2%

9/3/22

465.62

466.55

Dennis Rodman’s mission to Moscow to free Britney (Griner) annoys diplomats.  Sir Elton and Britney (Spears) remake “Tiny Dancer”.  Finnish PM’s dancing disdained.  Actor Gary Buesey charged with unspecified “sex crimes” at Monster Mania Con.  Japanimation’s “Dragon Ball” leads box office, but with only 20M and Regal Cinemas declares bankruptcy.  Revenues should pick up soon with Black Panther Two (plot hint subtitle: “The Woman King”).  Game of Thrones prequel (“Fire and Blood”) streams to mixed reviews.  RIP: coach Gary Gaines (the real life model for “Friday Night Lights”),  KC QB Len Dawson (who lost first Superbowl, but won 4th), actor Joe E. Tata (90210).

 

Misc. incidents

4%

450

8/20/22

  -0.1%

9/3/22

460.52

460.06

Experts say lifetime cost of raising a child is $300,000.  Less if he or she drops out of school and runs away.  Dozens of dead dogs in Michigan contacted mystery virus – vets vetting vaxxes.  Spice guy eats 17 ghost peppers in one minute.

 

 

 

 

 

 

 

 

 

 

 

The Don Jones Index for the week of August 20th through August 26th, 2022 was DOWN 8.34 points

 

The Don Jones Index is sponsored by the Coalition for a New Consensus: retired Congressman and Independent Presidential candidate Jack “Catfish” Parnell, Chairman; Brian Doohan, Administrator.  The CNC denies, emphatically, allegations that the organization, as well as any of its officers (including former Congressman Parnell, environmentalist/America-Firster Austin Tillerman and cosmetics CEO Rayna Finch) and references to Parnell’s works, “Entropy and Renaissance” and “The Coming Kill-Off” are fictitious or, at best, mere pawns in the web-serial “Black Helicopters” – and promise swift, effective legal action against parties promulgating this and/or other such slanders.

Comments, complaints, donations (especially SUPERPAC donations) always welcome at feedme@generisis.com or: speak@donjonesindex.com.

 

 

ATTACHMENT ONE – from Ballotpedia

REMAINING 2022 PRIMARIES...

 

Massachusetts

Massachusetts statewide primary

September 6, 2022

Delaware

Delaware statewide primary

September 13, 2022

New Hampshire

New Hampshire statewide primary

September 13, 2022

Rhode Island

Rhode Island statewide primary

September 13, 2022

Louisiana

Louisiana statewide primary election

November 8, 2022

 

 

ATTACHMENT TWO – Election Results from New York and Florida from the New York Times and the Associated Press

 

By Hiroko Masuike  Aug. 24, 2022, 7:52 a.m. Eastern time

 

From fiercely contested House races in New York to the battle in Florida to take on Gov. Ron DeSantis, pillars of the Democratic establishment prevailed in a series of late-August elections in both states on Tuesday.

In the Hudson Valley in New York, another theme emerged: The political power of abortion rights in the post-Roe era.

 

FLORIDA  @FIX WITH PASTE A if possible

 

 

 

Governor

 

Democratic Primary

 

CANDIDATE

VOTES

PCT.

Charlie Crist

903,030

59.7%

Nikki Fried

534,521

35.3%

Cadance Daniel

38,120

2.5%

 

 

See detailed race results

 

 

U.S. House

 

1st District Republican Primary

 

CANDIDATE

VOTES

PCT.

Matt Gaetz*

73,015

69.7%

Mark Lombardo

25,560

24.4%

Greg Merk

6,123

5.8%

* Incumbent

 

See detailed race results

 

 

7th District Republican Primary

 

CANDIDATE

VOTES

PCT.

Cory Mills

27,734

33.8%

Anthony Sabatini

17,314

21.1%

Brady Duke

11,212

13.7%

 

 

See detailed race results

 

 

10th District Democratic Primary

 

CANDIDATE

VOTES

PCT.

Maxwell Frost

19,271

34.7%

Randolph Bracy

13,711

24.7%

Alan Grayson

8,531

15.4%

 

 

See detailed race results

 

 

13th District Republican Primary

 

CANDIDATE

VOTES

PCT.

Anna Luna

37,133

44.5%

Kevin Hayslett

28,088

33.6%

Amanda Makki

14,156

17.0%

 

 

 

NEW YORK

 

U.S. House

10th District Democratic Primary

 

CANDIDATE

VOTES

PCT.

Dan Goldman

16,686

25.8%

Yuh-Line Niou

15,380

23.7%

Mondaire Jones

11,777

18.2%

 

 

See detailed race results

 

 

12th District Democratic Primary

 

CANDIDATE

VOTES

PCT.

Jerrold Nadler*

45,545

55.4%

Carolyn Maloney*

20,038

24.4%

Suraj Patel

15,744

19.2%

* Incumbent

 

See detailed race results

 

 

17th District Democratic Primary

 

CANDIDATE

VOTES

PCT.

Sean Patrick Maloney*

21,525

66.7%

Alessandra Biaggi

10,752

33.3%

* Incumbent

 

See detailed race results

 

 

19th District Special Election

 

CANDIDATE

PARTY

VOTES

PCT.

Pat Ryan

Democrat

68,807

51.9%

Marc Molinaro

Republican

63,846

48.1%

 

 

See detailed race results

 

 

23rd District Special Election

 

CANDIDATE

PARTY

VOTES

PCT.

Joseph Sempolinski

Republican

38,749

53.3%

Max Della Pia

Democrat

34,001

46.7%

 

 

See detailed race results

 

 

23rd District Republican Primary

 

CANDIDATE

VOTES

PCT.

Nick Langworthy

24,275

52.1%

Carl Paladino

22,283

47.9%

 

 

See detailed race results

 

 

 

Source: Election results and race calls from The Associated Press.

Results as of 7:46 a.m. E.T.

 

 

Selected Results from Oklahoma

 

U.S. Senate

 

Republican Special Primary Runoff

 

CANDIDATE

VOTES

PCT.

Markwayne Mullin

183,034

65.1%

T.W. Shannon

98,215

34.9%

 

 

 

ATTACHMENT THREE – from Pew Research

BY A WIDE MARGIN, AMERICANS VIEW INFLATION AS THE TOP PROBLEM FACING THE COUNTRY TODAY

BY CARROLL DOHERTY AND VIANNEY GÓMEZ. May 12, 2022

 

The public views inflation as the top problem facing the United States – and no other concern comes close.

Seven-in-ten Americans view inflation as a very big problem for the country, followed by the affordability of health care (55%) and violent crime (54%).

About half say gun violence and the federal budget deficit are very big problems (51% each), according to a Pew Research Center survey conducted April 25-May 1 among 5,074 U.S. adults. More than two years into the coronavirus pandemic, just 19% of Americans rate the coronavirus outbreak as a very big problem for the country, the lowest share out of 12 issues included in the survey. In June 2020, in the early stages of the outbreak, 58% rated it as a very big problem, placing it among the top concerns at the time.

 

With few exceptions, Republicans and Democrats differ over what they see as major national problems. Inflation is by far the top concern among Republicans and Republican-leaning independents, 84% of whom say it is a very big problem in the country today.

A much narrower majority of Democrats and Democratic leaners (57%) view inflation as a very big problem. Among Democrats, larger shares see gun violence (70%), the affordability of health care (65%) and climate change (63%) as very big problems.

Democrats are nearly four times as likely as Republicans to rate climate change as a very big problem (63% vs. 16%). Republicans, by contrast, are far more likely than Democrats to view illegal immigration as a very big problem (65% vs. 19%).

Neither Republicans nor Democrats widely view the quality of public schools as a major problem. Four-in-ten Republicans (41%) and a similar share of Democrats (36%) say this is a very big problem for the country.

While the coronavirus has receded as a major problem over the past two years, so too has unemployment. In the new survey, just 23% of Americans rate unemployment as a very big problem, down from 41% a year ago and 50% in June 2020. The decline has come among members of both parties.

The share of adults who say racism is a very big problem for the country has declined by 10 percentage points since last April, from 45% to 35%. Most of the change has come among Democrats: 49% now view racism as a major problem, down from 67% about a year ago. Republicans’ views are largely unchanged (14% today, 19% then).

Note: Here are the questions used for this report, along with responses, and its methodology.

 

 

ATTACHMENT FOUR – from YouGov.com

INFLATION IS THE ELECTION ISSUE NAMED VERY IMPORTANT BY THE MOST REPUBLICAN VOTERS

By Linley Sanders and Kathy Frankovic July 15, 2022, 10:55 AM GMT-4

 

Data released by the Bureau of Labor Statistics on Wednesday showed that inflation remains at a 40-year high. The latest Economist/YouGov poll shows that most Americans are concerned about inflation: 64% call it a “very serious” problem in the United States, virtually unchanged (63%) from when this question was asked in June.

Inflation likely dominates perceptions because of its personal impact. Nearly three-quarters of Americans (72%) say that changes in the inflation rate have impacted them negatively – including majorities of Democrats (59%), Independents (74%), and Republicans (83%). 

The issue of inflation and prices is “very important” to registered voters when looking at November's midterm elections. More than three in five registered voters (63%) call this issue very important, including 58% of Democrats and 85% of Republicans.

But the issues that registered voters who are Democrats are most likely to call “very important” when deciding how to vote in the November elections are civil rights (78%), health care (75%), guns (73%), abortion (71%), and civil liberties (71%) — not inflation. Registered voters who are Republicans are more likely to call inflation very important in deciding their vote. Their top issues for the election are inflation/prices (85%), national security (75%), crime (73%), and jobs and the economy (73%).

About half of Americans (49%) expect an even higher rate of inflation over the next six months. Republicans (65%) are more likely than Democrats (30%) to believe inflation will rise. Americans with a household income under $50,000 (56%) are more likely to expect higher inflation than are households earning between $50,000 to $100,000 (45%) or $100,000 or more (41%).

In a further sign of a negative outlook on the economy, most Americans also continue to see the U.S. as currently in a recession (58% say that this week). This number has remained steady since the first 2022 Economist/YouGov Poll to ask this question, in May. This week’s number is within the margin of error of last week’s poll (57%) as well as when the question was asked in May (55%).

Why do so many Americans believe the country is in a recession? When asked the best indicator of an economic recession, people are twice as likely to say the prices of goods and services you buy (44%) as to say it's whether the economy is shrinking or growing (22%).

Americans are about three times as likely to say the economy is shrinking (49%) as growing (16%). Democrats are divided roughly evenly on how the economy's size is changing: 28% say it’s shrinking, while 26% say it’s growing. Most Republicans say the economy is shrinking (72%), while just 10% say it’s growing. (The country's Gross Domestic Product fell in the first quarter from a year earlier.)

When the economy is troubled, presidents can be blamed – and in the case of inflation, President Joe Biden is seen as having responsibility for it by most Americans who think inflation has risen. Among Americans who say the inflation rate has gone up since January 2021, 73% give Biden a lot of (49%) or some (24%) responsibility.

Presidents do not often get the same level of credit for positive economic news. Just two in five Americans say that unemployment has gone down (38%) since January 2021 — the month when Biden became president. (It has gone down.) Among people who think unemployment has declined, 65% give Biden a lot of (25%) or some (40%) of the responsibility.

About one in three Americans see Biden as having a lot of responsibility for movement of the stock market, and about the same proportion say he has a lot of responsibility for the change in joblessness, with slightly more saying he has a lot of responsibility for inflation. In general, the worse a person sees the situation in each of these three economic areas, the more likely the person is to give Biden the lion’s share of responsibility.

- Carl Bialik and Taylor Orth contributed to this article

This poll was conducted on July 9 - 11, 2022 among 1,500 U.S. adult citizens. Explore more on the methodology and data for this Economist/YouGov poll.

 

 

ATTACHMENT FIVE – from  CNBC

ALL-AMERICA ECONOMIC SURVEY

BIDEN’S ECONOMIC APPROVAL RATING FALLS TO NEW LOW ON FEAR ABOUT INFLATION, CNBC SURVEY FINDS

 

By Steve Liesman PUBLISHED MON, JUL 18 20227:01 AM EDTUPDATED MON, JUL 18 20226:51 PM EDT

·          

·         President Joe Biden’s overall and economic approval numbers dipped to the lowest levels of his presidency, according to CNBC’s All-America Survey.

·         His economic approval rating dropped 5 points from April’s survey to 30%, lower than the nadirs for President Donald Trump and President Barack Obama.

·         Americans are taking a variety of steps to contend with higher prices. Some 65% of those polled said they’re cutting back on entertainment. More than 4 in 10 are spending less on groceries.

 

President Joe Biden’s overall and economic approval numbers have reached the lowest levels of his presidency and fallen further than that of either of his two predecessors, according to the latest CNBC All-America Economic Survey.

With Americans feeling crushed beneath the weight of rising prices, Biden’s economic approval dropped 5 points from the prior survey in April to just 30%. The president’s economic record is supported by just 6% of Republicans, 25% of independents and 58% of Democrats, a very low number for his own party.

In comparison, President Donald Trump’s economic approval bottomed out at 41%, and President Barack Obama’s at 37%.

Biden’s approval on his overall handling of the presidency came in at 36%, 1 point lower than Trump’s worst rating. Among survey participants, 57% disapprove of Biden’s handling of the presidency.

The poll of 800 people across the nation found that 51% believe the president’s efforts to combat inflation are making no difference, and 30% think they are actually hurting. Just 12% say they are helping. The poll, which took place from July 7 to July 10, has a margin of error of plus or minus 3.5%.

A rocky economic outlook

The president’s dismal numbers come amid the worst economic outlook measures CNBC has recorded in the 15-year history of the survey.

Of the participants, 52% believe the economy will get worse over the next year, and just 22% believe it will improve. Both are survey records, and they are worse than those found during the great financial crisis. More than 6 out of 10 of those polled expect a recession in the next 12 months. Another 6% believe the country is already in one. Such levels have only been found during actual recessions.

Just 38% of the public believe their home prices will rise in the next year, the lowest since the Covid pandemic.

The poll found that inflation is by far the top concern in the country, garnering twice as many votes as the next response: abortion, which was presented as a survey option for the first time. That was followed by crime, immigration and border security, jobs, and climate change. The coronavirus, which led the list for most of the past several years, ranked last.

Taking steps to stretch a dollar

Americans are employing a variety of means to make ends meet amid high inflation.

Some 65% of those polled say they are cutting back on entertainment, such as eating out or going to movies and concerts. Among participants, 61% report driving less and 54% say they are reducing travel. More than 4 out of 10 are spending less on groceries. A third are using credit cards more often, which could mean higher interest payments if they don’t pay off balances. The survey found 47% of the participants say they are taking at least four of these measures.

With gas prices high, 50% of the public say they support relaxing environmental rules to ease prices at the pump with 42% opposing, and 58% favor a tax on oil company profits rebated back to consumers.

Upcoming congressional elections loom

When it comes to pocketbook issues, the survey found Republicans have a decided edge in the upcoming congressional elections. But the question is whether other issues, such as climate change and abortion, could give Democrats a boost.

Respondents who say immigration and border security, jobs, and, most importantly, the cost of living are their top concerns have a decided preference for Republican congressional control. For example, those most worried about jobs, prefer GOP control by a 54% to 31% margin. Those most concerned about the cost of living, prefer GOP congressional control by 47% to 38%. However, abortion ranks as the second-biggest concern, and those respondents prefer Democratic control of congress 67% to 24%.

Overall, Americans prefer Republican congressional control by a 44% to 42% margin, but that actually narrowed from a 10-point gap in the prior poll. Both the Republican and Democratic pollsters for the survey say this could be attributed in part to the emergence of abortion as a major issue, though both were skeptical it could have a significant impact on the outcome.

It remains to be seen if intensity on abortion or other social issues remains in place by November, and if inflation continues to be the leading concern.

Check out the full survey. 

 

 

ATTACHMENT SIX – from NPR

POLL: BLACK, NATIVE AMERICAN AND LATINO FAMILIES FACE SERIOUS PROBLEMS FROM INFLATION

By Will Stone  August 8, 2022 5:00 AM ET

 

Fears of eviction. Trouble affording groceries. Unmet medical needs.

national poll — from NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health — finds those are all too common experiences for high proportions of Black, Latino and Native American adults as the U.S. weathers a grueling stretch of high prices and economic uncertainty.

In fact, more than half of Black and Latino households report the recent price increases driven by inflation have caused them "serious financial problems." It's even higher among Native Americans, with that number rising to more than two-thirds of those surveyed.

The poll's findings, released in a report on Monday, include data from the five largest racial and ethnic groups in the U.S. Altogether, more than 4,100 adults were interviewed between mid May and mid June of this year.

The data underscores that racial and ethnic minorities are having a tough time compared to their white counterparts in some key spheres of American life, particularly with finances, affordable housing, neighborhood safety, education and health care.

Survey shows "acute" financial troubles

While some of the results clearly relate to long-term barriers and inequities, the disparities uncovered in the survey also point to a handful of short-term, pressing problems that are deeply concerning, says Robert J. Blendon, co-director of the survey and emeritus professor at the Harvard T.H. Chan School.

"We've been looking at disparities for many years, but the acute needs caught us a bit off guard," he says. "In this period when we're all suffering from inflation, people are at high risk for either being homeless or actually not being able to feed their families."

In a sense, the impact of economic insecurity is the connective tissue for many of the survey's findings: 55% of Black and 48% of Latino adults say they are currently facing serious financial problems. For white adults, it's 38%.

A majority of Black and Latino households say they don't have emergency savings to cover at least one month of expenses. White adults are also more likely to receive significant financial support from older relatives — help that is usually not available to racial and ethnic minorities.

The poll finds that just about 14% or Black adults and 16% of Latino adults say they have ever received gifts or loans worth $10,000 or more from parents or older relatives.

"People are telling us from their own experiences that a really wide share are just barely making it," says Mary Findling, assistant director of the Harvard Opinion Research Program at Harvard T.H. Chan School of Public Health.

From housing to food, high prices take a toll

The concerns about housing are especially striking.

Across all groups, more than 60% of adults say the lack of affordable housing that's available for them to buy is a serious problem in their neighborhoods. The numbers are not all that different for affordable rental housing.