The Rarest Asset In A Fourth Turning: The Freedom To Act

Key Events This Holiday-Shortened Week: All Eyes On Friday's CPI After Friday's blowout jobs report, attention now turns to inflation. Economists expect headline CPI (Friday) to rise by +0.4% month-on-month in August, up from +0.07% previously, while core CPI is expected to print at +0.2% month-on-month, broadly unchanged from July’s +0.22%. Higher gasoline prices are likely to support the headline reading, while core inflation should continue to benefit from gradually moderating shelter costs (which however are turning higher again per Case-Shiller). If realized, the forecasts would leave headline CPI broadly...

Federal Investigation Of Gavin Newsom Expands According to a new report, the Justice Department has expanded its federal criminal investigation into California Gov. Gavin Newsom to include his international travel and personal expenses related to a nonprofit that funds his trips through private donations rather than taxpayer money. Earlier this month, the US Attorney's Office served subpoenas asking for about six years' worth of communications relating to the California State Protocol Foundation, according to the San Francisco Standard. They sought records concerning the foundation's donors and fundraising, Newsom's overseas travel and...

Black Dems Up In Arms As Party Considers Giving Nevada First 2028 Primary It's always fun watching the party that cherishes identity politics being torn apart by identity politics.  That's once again the case, as the Democratic National Committee endeavors to lay out its sequence of primaries for the 2028 presidential race. As a DNC panel convenes in Washington this week, there's substantial momentum behind the idea of taking the coveted "first in the nation" spot away from 25% black South Carolina, and handing it over to 31% Hispanic Nevada. Party...