News Story of the Day: As the Federal Reserves gets ready to raise interest rates this month and pump the money supply, some new consumer inflation numbers came out. The core inflation rate rose by the most in 18 months in June, led by a surge in a diverse array of goods and services.
But this type of data takes a backseat to the stock market, President Donald Trump’s tweets, and a central bank trying to save face.
Chart of the Day: How big is the global economy? $80 trillion – and three countries account for nearly half: the United States, Japan, and China.
Illustration of the Day: Brian Karem, a contributor for Playboy and the Counterfeit News Network, two outlets that are pretty much identical because one spends a lot more time on strippers and porn lawyers than the other, made a fool of himself at the Rose Garden in the White House on Thursday. Perhaps frightened that a bunch of social media influencers have more influence than a CNN contributor, Karem tried picking a fight with the crowd. Then Sebastian Gorka stepped in. It wasn’t pretty. Despite his bad politics, Gorka is an impressive individual. But someone was able to snap these two hilarious photos.
Quote of the Day: David Stockman is out with a new book. To honor its release, here is a goodie from his previous book, “The Great Deformation”:
The bailouts, the Fed’s frenzied money printing, the embrace of primitive Keynesian tax stimulus by a Republican White House amounted to something terrible: a de facto coup d’état by Wall Street, resulting in Washington’s embrace of any expedient necessary to keep the financial bubble going—and no matter how offensive it was to every historic principle of free markets, sound money, and fiscal rectitude
Tweet of the Day: Well, well, it looks like somebody has been reading some Friedrich Hayek.
The government manipulates currency values. Independent forms of currency not subject to the political whims of powerful people are good. https://t.co/dWE3KPSGGI
— Ben Shapiro (@benshapiro) July 12, 2019
Video of the Day: So, Ben Shapiro got into trouble for stating facts pertaining to the supposed gender pay gap with the women’s soccer team. It could be condensed into this: Women earn less than the man at the World Cup because they generate a fraction of what the men generate in terms of revenue. This upset the feminists, including a woman named Lauren Duca, who called into Shapiro’s show and started talking about feelings as opposed to the cold, hard data.
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