|DML Morning Briefing.|
|By Dennis Michael Lynch
Today is August 31. Below are some of the stories grabbing headlines this morning. I hope you share this briefing as doing so will make you the smartest person in the room.
1.Documents at Mar-a-Lago Were Moved and Hidden as U.S. Sought Them, Filing Suggests
The filing came in response to Mr. Trump’s request for an independent review of materials seized from his home, Mar-a-Lago. But it went far beyond that, painting the clearest picture yet of the department’s efforts to retrieve the documents before taking the extraordinary step of searching a former president’s private property on Aug. 8.
Among the new disclosures in the 36-page filing were that the search yielded three classified documents in desks inside Mr. Trump’s office, with more than 100 documents in 13 boxes or containers with classification markings in the residence, including some at the most restrictive levels.
That was twice the number of classified documents the former president’s lawyers turned over voluntarily while swearing an oath that they had returned all the material demanded by the government.
DML: Before I comment, let me remind you today is the last day for the DMLCBD.com site wide bogo event (Buy One Get One free). The next one will be in late November. That said, my wife knows I cannot eat certain foods, but she still makes the food. It’s not a crime, and I will not divorce her over it. The DOJ and NY Times story is nonsense. They try time and again to toss narratives against the wall and hope that something sticks. So in the same way I won’t divorce my wife on the ground of making bacon this morning, Trump should not be indicted on BS. (I did not eat the bacon)
2.Fed’s Mester sees benchmark rate above 4% and no cuts at least through 2023
Mester, a voting member this year of the rate-setting Federal Open Market Committee, said she sees benchmark rates rising above 4% in the coming months. That’s well above the current target range of 2.25%-2.5% for the federal funds rate, which sets what banks charge each other for overnight borrowing but is tied to many consumer debt instruments.
The Fed this year has raised rates four times for a total of 2.25 percentage points. Markets are pricing in a third consecutive 0.75 percentage point increase at the September meeting and looking for rate cuts to start in the fall of 2023.
Mester said she anticipates the rate increases to slow economic growth, which she sees as running “well below 2%” while the unemployment rate rises and financial markets remain volatile. She expects inflation to fall to a range of 5%-6% this year and then get closer to the Fed’s target in subsequent years.
DML: Damn, am I the smartest guy in the room or what! I have seen this coming for so long. So, so long. You should really consider getting that BOGO offer, no joke. Money is going to be really tight in the months to come, and we will be like everyone else in terms of buttoning down the hatches. Less inventory, less deals offerings. Biden is killing everything Trump built, including the economy.
3.Family of fallen Marine sues Alec Baldwin for social post accusing his sister of being an ‘insurrectionist’
The lawsuit was filed by Roice McCollum and Cheyenne McCollum of Wyoming, the sisters of Marine Lance Corporal Rylee J. McCollum, who died in Afghanistan, and his widow, Jiennah McCollum, of San Diego.
The family originally filed a suit in Wyoming, which was dismissed in May because the court doesn’t have jurisdiction over Baldwin who lives in New York, according to the New York Post.
The family filed the second suit in the Southern District of New York last Friday asking for $25 million in damages, saying that the “Beetlejuice” actor accused Roice McCollum of being a Jan. 6 “insurrectionist” on his social media, leading to her being verbally attacked by his fans.
DML: Baldwin is a bad person. I need say nothing more, I pray for him to turn it around in this lifetime.
4.Bronze Ku Klux Klan plaque and relics to Confederate chief Robert E. Lee need to be stripped down from West Point, congressional panel says
The request from the Naming Commission, which is tasked with reviewing and changing military assets that memorialize Confederate figures, was aired in a report published by the agency Monday.
In addition to West Point – the nation’s oldest and most respected service academy, situated in Upstate New York – the report also saw the committee hone in on the US Naval Academy in Maryland, demanding multiple facilities at the school be renamed by next year.
DML: Just when you thought cancel culture was dead, now this.
5.US life expectancy plunges for a second consecutive year. Experts underscore possible factors
In the first two years of the COVID-19 pandemic, the estimated American lifespan has shortened by nearly three years. The last comparable decrease happened in the early 1940s, during the height of World War II.
Centers for Disease Control and Prevention officials blamed COVID-19 for about half the decline in 2021, a year when vaccinations became widely available but new coronavirus variants caused waves of hospitalizations and deaths. Other contributors to the decline are longstanding problems: drug overdoses, heart disease, suicide and chronic liver disease.
DML: Life is precious. You have to live every day as if it was our last because one day you will certainly be right. I thank God for everyday.
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