(FREE) PAINE IN THE MORNING: What you need to know this Thursday – July 14, 2022

Here’s what you need to know today, Thursday – July 14, 2022.

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‘Painfully high’: Inflation skyrockets to highest level in 40 years – Joe Biden has set another record, and it’s not good. Inflation under his economic leadership surged 9.1% in June, setting a new 40-year high and demolishing even the worst fears of economists, who had predicted a climb of 8.8%.

“Inflation accelerated more than expected to a new four-decade high in June as the price of everyday necessities remains painfully high, exacerbating a financial strain for millions of Americans and worsening a political crisis for President Biden,” documented a report in Fox Business. – READ MORE

Biden Dismisses Record-High Inflation News As ‘Out-Of-Date’ –  President Joe Biden responded to news of inflation reaching a fresh four-decade high by arguing that the report is outdated.

The Consumer Price Index (CPI) rose 9.1% between June 2021 and June 2022, according to a Wednesday morning report from the U.S. Bureau of Labor Statistics, exceeding the Dow Jones estimate of 8.8%. While Biden acknowledged that the inflation reading was “unacceptably high,” he deflected by asserting that the data are “also out-of-date.” – READ MORE

Starbucks Closing 16 Stores in 4 Blue States and D.C. for Worker Safety – The Starbucks Corporation announced Monday that it is closing 16 stores in the U.S. because of safety concerns for workers, including incidents of violence and drug use on the premises.

The coffee retailer will close permanently six stores in Seattle, Washington, and six more in the Los Angeles, California, region. Two stores will shutter in Portland, Oregon, and one store each in Philadelphia and Washington, DC. – READ MORE

New York ‘No Bail’ Law Frees Mexican Drug Cartel Smugglers Arrested with $1.2M Worth of Crystal Meth – New York’s “No Bail” law, approved by statewide Democrats in 2019, has helped free from jail two Mexican drug cartel smugglers arrested with about $1.2 million worth of crystal meth.

This week, the Office of the Special Narcotics Prosecutor for the City of New York announced the arrests of 19-year-old Luis Estrada and 34-year-old Carlos Santos — both from southern California — for charges related to smuggling crystal meth. – READ MORE

Long Beach Container Backlog Crosses Red Line As Delays Mount – The number of container ships waiting off Los Angeles and Long Beach is well off its highs, but the pileup of import containers waiting on Southern California terminal yards is rapidly reapproaching its peak.

Long Beach just crossed a red line. The number of import containers sitting on Long Beach terminals for nine days or more is now higher than it was on Oct. 28, 2021, the date the port first began counting these boxes as part of a plan to reduce them. – READ MORE

Trains Could Literally Stop Running In The US One Week From Now – Did you know that an absolutely crippling national railroad strike could potentially start on July 18th?

If this actually happens, the historic supply chain crisis that we are experiencing right now will rapidly become far worse. Each year, trains in the United States transport approximately “1.7 billion tons of raw materials and finished goods” to their ultimate destinations. If that suddenly stops happening, our economy goes into the toilet. I realize that may sound a bit crude, but that is the reality of what we are potentially facing. So we better hope that national rail carriers and the unions representing the workers can come to an agreement before next Monday… – READ MORE

‘Welcome To Microtransaction Hell’: Twitter Reacts To BMW Charging $18 Per Month To Use Heated Seats –  BMW owners are furious that on top of the cost of the luxury car, they’ll be required to pay a monthly subscription fee to use features like the heated seats.

Per the New York Post, subscription plans recently rolled out in the United Kingdom, Germany, South Korea, and several other markets, which included fees for premium features. BMW owners will be forced to pay the equivalent of $18 per month to use heated front seats in their cars. – READ MORE

White House Suggests Breaching Dams To Save Endangered Salmon, Even Though It Would Worsen Energy And Supply Chain Issues – The Biden administration’s National Oceanic and Atmospheric Administration (NOAA) recommended breaching dams on the Snake River to ensure the survival of endangered salmon — a move that could jeopardize power supplies in the Pacific Northwest and worsen the supply chain crisis.

A Monday draft report from the agency suggested that the four lower Snake River dams should be breached to decrease travel time for salmon, as well as reduce stress on juvenile fish and encounters with powerhouses. The “earthen portion of each dam would be removed, and a naturalized river channel would be established around the concrete spillway and powerhouse structures,” according to the report. – READ MORE

Dr. Bezos Will See You Now: Amazon Is Developing a Cancer Vaccine – Tech giant Amazon is reportedly partnering with the Seattle-based Fred Hutchinson Cancer Center to develop a cancer vaccine and has already begun recruiting for clinical trials.

Business Insider reports that an internal team at Amazon is developing a cancer vaccine in partnership with the Seattle-based Fred Hutchinson Cancer Center. The project is reportedly already recruiting patients to participate in an FDA-approved clinical trial. – READ MORE

Painful: Journalist spends 30 minutes trying to get electric car charger to work, forced to give up – Climate alarmists, including President Joe Biden, have been rabidly pushing electric vehicles as the solution for combating climate change and soaring gas prices, but they downplay the numerous ways EVs are inferior to gas-powered cars.

In addition to being expensive, electric cars can take a long time to recharge. Moreover, the charging process can be frustrating and arduous. – READ MORE

Sri Lanka: Protester Takeover of Presidential Palace Turns into 4-Day House Party – What appeared to be throngs of hundreds of protesters remained at the home of the president of Sri Lanka as of Tuesday after occupying the residence and sending President Gotabaya Rajapaksa fleeing to an undisclosed location this weekend.

Rajapaksa — the last Rajapaksa family member still holding a top government position after months of protests forced several brothers and other relatives out of cabinet positions — agreed to step down from the presidency following the seizure of his home on Saturday. The president is expected to officially step down on Wednesday to allow for the country’s Parliament to organize an “all-party” unity government. Prime Minister Ranil Wickremesinghe also agreed to step down this weekend after protesters burned his house down. – READ MORE

The Façade Of California’s Economy Is About To Crumble – Statistical data and economic projections can be incredibly misleading without taking context into account. This fact is often exploited by governments around the world, and there is probably no better example than the state of California.

There is an old mantra when it comes to warfare, which is to never buy into your own propaganda. That is to say, never buy into the lie that you are “winning” if you are actually losing. The economic and political news coming out of California is consistently dismal these days, and yet state politicians and bureaucrats continuously insist that things have never been better. Furthermore, they really know how to spin their data. – READ MORE