The Schaftlein Report | Government Spending as Usual.
Guest – Jeffrey Dunetz
1) House passes Short term spending bill and paves the way fora $1.7T Omnibus bill to fund the government through 9-30-23.
1A) Sen. Rand Paul rails against the bill 3,000 pages nobody has read.
2) The Federal Reserve raises interest rates 50 basis points putting the Fed Funds rate in a range of 4.25% to 4.375%
2A) Federal Reserve projects .5% growth in 2023. Says we have a 3.5M person labor shortage.
2B) Rates have risen by 425 basis points this year and the projection is to take the Federal Funds Rate to 5.1% and hold there for an extended time.
2C) Stocks getting hammered down about 2%
3) The worlds largest Crypto firm Binance is under criminal investigation for money laundering according to the Justice Department. $3B of customer funds requested on Tuesday
to be returned as redemptions soar.
4) Ken Griffin tax records leaked by IRS. We’ll explain why this is important and a disgrace.
5) Washington Post announces layoffs after losing 500K subscribers.Woke staffers wearing masks panic and whine about their jobs. SORRY
6) U.S. sues Arizona for using containers to seal the border. You can’t make this up. We have a radical government.
