(FREE) PAINE IN THE MORNING: What you need to know this Wednesday – July 27, 2022

Here’s what you need to know today, Wednesday – July 27, 2022.

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The Fed prepares to fight inflation with more rate hikes this week despite growing concern regarding the economy – With inflation at a 40-year high in June, the Federal Reserve is feeling the pressure to raise interest rates for the fourth consecutive month in hopes of slowing runaway inflation. However, Americans worry that rapidly increasing rate hikes might send the U.S. into a tailspin recession.

In Fed Chairman Jerome Powell’s testimony to the Senate last month, he stated, “It is essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit all.” – READ MORE

Top Federal Reserve Officials With Known Links To China Still Have Their Jobs, Senate Republican Report Says – The Chinese government carried out a decade-long information theft campaign against the Federal Reserve, a report released Tuesday from Republican members of the Senate Committee on Homeland Security and Governmental Affairs revealed.

The Federal Reserve, charged with executing a dual mandate of maximum employment and stable prices, is presently determining policy to navigate the United States economy through the highest inflation rates in four decades. The report found that China — which holds nearly $1 trillion in Treasury securities — has used talent plan recruitment and promises of academic positions in an effort to gain influence and glean information from the central bank. – READ MORE

Yellen: We’re Not In A ‘Recession,’ We’re In A ‘Transition In Which Growth Is Slowing’ – Treasury Secretary Janet Yellen claimed that the United States economy is not in a recession but rather a “period of transition in which growth is slowing.”

When pressed by NBC host Chuck Todd over the weekend, Yellen said that “growth is slowing” — even though output appears to be turning negative for a sustained period of time. The remarks come ahead of the Bureau of Economic Analysis publishing an advance estimate of second quarter Gross Domestic Product (GDP) growth later this week — a reading that is expected to show that the economy shrank at a 1.6% annualized pace from April to June. – READ MORE

California Targets Private Property With Latest Water Well Fees, Charges: Report – California is siccing its Environmental Protection Agency on property owners who have private water wells on their land and making them pay based on how much water volume they use, according to a new report.

California Globe reported Wednesday that an anonymous tipster produced a letter signed by Natalie Stork, identified as chief of groundwater management program unit 1. The letter advised the San Diego-area resident that they would have to report the volume of well water they used and pay a fee per acre foot of groundwater extracted starting in February 2023. – READ MORE

CNN Runs Piece Saying Selfish Americans Don’t Need Air Conditioning –  After one of the hottest spells of Summer 2022, which spread across the globe for up to a week, CNN ran a piece saying Americans should be more like Europe and forego using air conditioning.

Britain was hard hit by the heat wave, reaching the thermometer topping 100 degrees for several days in a row. The problem: only about 5% of people in the U.K. have air conditioning because the temperature on the rainy island ranges from the high 50s to the high 80s in the hottest months. – READ MORE

US dumped thousands of cows into Kansas landfill after mass heat wave deaths: report – U.S. cattle farms reportedly dumped thousands of cow carcasses into Kansas landfills after a heat wave caused a spike in deaths that overwhelmed traditional disposal methods.

Cattle companies delivered the carcasses to landfills following a June heat wave. The cows were then flattened with machinery and mixed in with trash, according to Reuters. – READ MORE

Eight years? Nine years? Six years ago? A climate change activist guide to doomsday – Advocates of combating climate change are increasingly invoking doomsday scenarios to pressure President Biden to take unilateral action to lower greenhouse gas emissions, despite a history of such claims falling flat.

The rhetoric is coming not only from progressive activists but also Democrats on Capitol Hill. Lawmakers, in particular, have intensified their doomsday predictions as hopes for a climate change deal have waned within the Senate in recent days. – READ MORE

Sri Lanka Socialists Try to Bring Back Coronavirus Masks, Still No Food or Gasoline – The Sri Lankan Health Ministry on Monday asked residents to resume using face masks, social distancing, and aggressive hand washing to control the spread of the Wuhan coronavirus.

Sri Lanka has been wracked with massive protests for weeks, during which there was little evidence of masking or social distancing, and the government has collapsed so thoroughly that people are more worried about food and fuel than masks. – READ MORE

Lockdown Forever! Minister Backs Harsh COVID Restrictions After Meeting with Dr. Fauci – Germany’s health minister has reiterated his support for harsh COVID restrictions after meeting with fellow lockdown-lover Dr. Anthony Fauci.

Karl Lauterbach — Germany’s now infamous lockdown-loving Minister for Health — has reiterated his militant support for harsh anti-COVID restrictions after returning from a tour in America, during which he met with Dr. Anthony Fauci. – READ MORE

Democrat House Intelligence Committee Member Warns: DNA Testing Can Be Used as Bioweapon to Target Americans – Bio-weapons are being developed that use specific DNA to target and kill individuals through their medical profile, a Democrat member of the U.S. House Intelligence Committee warned Friday.

Rep. Jason Crow (D-CO), a U.S. Army veteran, used the Aspen Security Forum to warn Americans to be more judicious about sharing their DNA with private companies due to the coming of new bioweapon types. – READ MORE

The Day Fauci Reversed Course: February 27, 2020 – I’ve been looking again at Covid’s origins and the start of the pandemic. Last time I wrote on it I argued that Italy brought in China-style lockdowns on March 8th and 10th 2020 mainly as a result of panic owing to the leap in the death rate, with it being clear from the hospital situation there were many more deaths to come. I still believe that that was the immediate trigger for imposing lockdowns at the time. However, I now recognise that that is far from the full story. What it leaves out is the backdrop of who was pushing for lockdowns throughout the preceding two months, and why.

Two key pieces of data have emerged in the last few months that help to bring the picture into clearer focus. – READ MORE