17 Aug, 2022

DML Morning Briefing August 1

Today is August 1. 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.Nancy Pelosi arrives in Singapore as she begins tour of Asia
Fox News -House Speaker Nancy Pelosi, D-CA, landed in Singapore early Monday morning to kick off her visit to the Indo-Pacific region. Her office said she plans to visit at least four Asian countries during her trip, but there was no mention of a stop in Taiwan amid threats from China.

Pelosi arrived with her Congressional delegation before dawn. She will visit Singapore President Halimah Yacob and Prime Minister Lee Hsien Loong, and meet with several Cabinet Ministers, according to a spokesperson for Singapore’s foreign ministry.

The Speaker is also expected to attend a cocktail reception with the American Chamber of Commerce in Singapore.

DML: CNN is reporting this morning that Nancy will stop in Taiwan despite the threats made by China. I have so much to say about this, it’s too much to write, so I will speak about this at length today on The Dennis Michael Lynch Podcast.  You can listen to it on this website (see podcast tab), you can also find it on The DML NEWS APP for free, and you can subscribe to the podcast via Apple Podcasts by clicking here.

2.Tickets for Trump’s Saudi-backed LIV golf tournament selling for as little as $1 as event draws thin crowds, report says
Yahoo News – Tickets for the Saudi-backed LIV golf tournament at Trump National Golf Club in Bedminster, New Jersey, were selling for as little as $1, as the controversial event failed to draw large crowds, a report says.

According to The Wall Street Journal, Saturday tickets were sold for as little as $1 on the ticket website StubHub, and “light crowds were spread across much of the vast grounds.”

Saudi Crown Prince Mohammed bin Salman oversees Saudi Arabia’s sovereign wealth fund, which is bankrolling the event.

Former President Donald Trump has faced criticism for hosting the event at one of his golf courses in light of allegations of human rights abuses against the Arab kingdom, such as the killing of journalist Jamal Khashoggi.

The 9/11 Justice group, composed of family members of 9/11 victims, has criticized Trump for hosting the tournament despite what they describe as “clear” evidence linking Saudi Arabia to the terrorist attack.

BEDMINSTER, NEW JERSEY – JULY 28: Former U.S. President Donald Trump reacts to a putt on the 15th green during the pro-am prior to the LIV Golf Invitational – Bedminster at Trump National Golf Club Bedminster on July 28, 2022 in Bedminster, New Jersey. (Photo by Cliff Hawkins/Getty Images)

DML: Although speaking about Nancy’s trip will be on the tip of my tongue today, this story will be at the heart of my podcast later today. Until then, food for thought, imagine what you’d be saying if Obama did the deal with LIV instead of Trump.  On a side note: Mr. Trump ain’t looking too good.  I can’t stand Biden, but the former president may want to call Joey for a few nutritional tips.  Trump looks like a heart attack waiting to happen.

3.1st ship carrying Ukrainian grain leaves the port of Odesa

Ukraine (AP) — The first ship carrying Ukrainian grain set out from the port of Odesa on Monday under a deal brokered by the United Nations and Turkey that is expected to release large stores of Ukrainian crops to foreign markets and ease a growing food crisis.

The Sierra Leone-flagged cargo ship Razoni left Odesa carrying over 26,000 tons of corn destined for Lebanon.

“The first grain ship since Russian aggression has left port,” said Ukraine’s Minister of Infrastructure Oleksandr Kubrakov on Twitter, posting a video of the long vessel sounding its horn as its slowly headed out to sea.

In Moscow, Kremlin spokesman Dmitry Peskov hailed the ship’s departure as “very positive,” saying it would help test the “efficiency of the mechanisms that were agreed during the talks in Istanbul.”

DML: I think we paid $40 billion for that grain, but we won’t see an ounce of it. The ship is destined for Lebanon, a Middle East nation in the grips of what the World Bank has described as one of the world’s worst financial crises in more than 150 years.

4.Home prices cooled at a record pace in June
CNBC -Rising mortgage rates and inflation in the wider economy caused housing demand to drop sharply in June, forcing home prices to cool down.

Home prices are still higher than they were a year ago, but the gains slowed at the fastest pace on record in June, according to Black Knight, a mortgage software, data and analytics firm that began tracking this metric in the early 1970s. The annual rate of price appreciation fell two percentage points from 19.3% to 17.3%.

DML: Biden and his team won’t use the word “recession” because they think they can avoid the inevitable crash of the economy, housing, stocks, and jobs market.  But they cannot.  This is unlike anything you’ve seen in the past, this is an asteroid about to hit.  I will explain more today on my podcast.

5. The next wave of Covid
(Reuters) – As the third winter of the coronavirus pandemic looms in the northern hemisphere, scientists are warning weary governments and populations alike to brace for more waves of COVID-19.

In the United States alone, there could be up to a million infections a day this winter, Chris Murray, head of the Institute of Health Metrics and Evaluation (IHME), an independent modeling group at the University of Washington that has been tracking the pandemic, told Reuters. That would be around double the current daily tally.

DML: The Democrats are just sitting on a stockpile of masks and mail-in ballots to hand out, that’s my guess.  I think it should be called the Midterm Variant.