The Final Days

And/but nothing is ever final.....

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THE DAY IN THE ECONOMY AND JOE BIDEN

The New York Times: “Inflation Sped Up Again in May, Dashing Hopes for Relief”:

A surge in prices in May delivered a blow to President Biden and underscored the immense challenge facing the Federal Reserve as inflation, which many economists had expected to show signs of cooling, instead reaccelerated to climb at its fastest pace since late 1981.

The Washington Post:

As the average price of gas nationwide topped $5/gallon early Saturday, surging fuel prices across the United States are creating new strains for millions of consumers and businesses, while compounding intractable political challenges for the Biden administration….

The Post-Schar School poll found 72 percent of Americans blamed corporations for trying to increase profits for rising gas prices, including 86 percent of Democrats, 52 percent of Republicans and 76 percent of independents. The overall figure blaming corporations was higher than the share who blamed Biden or disruptions caused by the pandemic (both 58 percent) and about the same share who blamed Russia’s invasion of Ukraine (69 percent)….

Bob McNally, an energy analyst at Rapidan Energy Group who served in the George W. Bush administration, said the White House has no options that would immediately improve the gas price crunch. He said it is critical that Biden avoid embracing solutions such as price caps and an oil profits tax that he said would make the problem worse.

“The White House has two options: They can do symbolic things that don’t really lower prices, and they can do really dumb things that are counterproductive,” McNally said. “Despite my many reservations about the president’s energy policies, it is nonetheless impressive that he has so far resisted reaching into the dumb basket.”

Another Washington Post story:

Behind the scenes, several prominent Democrats have been pushing to make attacks on the greed of oil and gas companies a centerpiece of the party’s message, in the hopes of making Democrats the party of fighting inflation by the midterms. They argue that the issue of gas prices needs to be reframed as a choice between Democratic support for proactive measures — like suspending the gas tax or prodding oil companies to drill on existing leases — and Republican opposition to taking action.

HALPERIN SAYS: The political health of the Biden presidency is now linked tightly and inexorably to the price of gas and the rate of inflation – certainly in the eyes of the Dominant Media and Mitch McConnell, and, perhaps, in the eyes of enough of the American people to produce a sizable Red wave in November, no matter what else happens. Although the polling demonstrates why Team Biden is focused on demonizing Big Oil, it doesn’t seem as if that rhetorical tactic will solve the substantive challenge.

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THE DAY IN BIDEN

From a Friday presidential event in California, encapsulating Joe Biden’s entire career:

THE PRESIDENT:  As we used to say in the United States Senate, I hope you’ll excuse a point of personal privilege, but I think that Sal must be related closely to my good friend from Holy Rosary High School in Claymont, Mike DiCostanzo (ph).  (Laughter.)  You think I’m kidding.  (Laughs.)  I’m not.

I tell you what -- but anyway, thank you, Sal.

There is an essential reading New York Times story on Joe Biden’s current troubled relationship with segments of the Democratic Party, notable for its on-the-record quotes from Anita Dunn and (an on-the-reservation-ish) David Axelrod – and also notable for the few Democratic Party officials willing to go on the record about the prospect of Biden ’24.  And most notable for how few were willing to on the record compared to the many who won’t (yet).

The lede:

Midway through the 2022 primary season, many Democratic lawmakers and party officials are venting their frustrations with President Biden’s struggle to advance the bulk of his agenda, doubting his ability to rescue the party from a predicted midterm trouncing and increasingly viewing him as an anchor that should be cut loose in 2024….

HALPERIN SAYS: Those Biden political associates who go on the record saying that only their man can defeat Donald Trump in 2024 are playing a dangerous game. And one of the most underrated decisions of 2022-23 is when and how Joe Biden makes his re-election plans explicitly clear.

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THE DAY IN TRUMP

* Crows over inflation.

* Sees the Washington Post dissect his relationship with Ivanka.

* Reads Rupert’s two main U.S. ed boards (the Wall Street Journal and the New York Post) be pretty tough on him regarding 2020 and VERY tough on him regarding 2024.

* Backs Katie Britt in the Alabama Senate runoff.

HALPERIN SAYS: If your father says he loves you, check it out.

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THE DAY IN UKRAINE

The Washington Post:

The euphoria that accompanied Ukraine’s unforeseen early victories against bumbling Russian troops is fading as Moscow adapts its tactics, recovers its stride and asserts its overwhelming firepower against heavily outgunned Ukrainian forces.

Newly promised Western weapons systems are arriving, but too slowly and in insufficient quantities to prevent incremental but inexorable Russian gains in the eastern Donbas region of Ukraine, which is now the focus of the fight.

The Ukrainians are still fighting back, but they are running out of ammunition and suffering casualties at a far higher rate than in the initial stages of the war. Around 200 Ukrainian soldiers are now being killed every day, up from 100 late last month, an aide to President Volodymyr Zelensky told the BBC on Friday — meaning that as many as 1,000 Ukrainians are being taken out of the fight every day, including those who are injured.

HALPERIN SAYS: This seems grim.

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THE DAY IN CHINA

The Wall Street Journal:

U.S. Defense Secretary Lloyd Austin said China was taking a more aggressive approach to its territorial claims and warned that Chinese aircraft and ships were increasingly engaging in provocative behavior in the Indo-Pacific.

Speaking at a defense conference in Singapore on Saturday, he said the U.S. is working to strengthen “guardrails against conflict,” including by keeping the lines of communication fully open with China’s defense leaders.

“We do not seek a new Cold War, an Asian NATO, or a region split into hostile blocs,” he said. “We will defend our interests without flinching, but we’ll also work toward our vision for this region—one of expanding security, one of increased cooperation, and not one of growing division.”

Mr. Austin delivered the remarks at the Shangri-La Dialogue, which is organized by the London-based think tank International Institute for Strategic Studies. His Chinese counterpart, Gen. Wei Fenghe, with whom Mr. Austin held his first face-to-face meeting a day earlier, is scheduled to address the conference on Sunday.

HALPERIN SAYS: The Biden Doctrine still needs a doctor.

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THE DAY IN OTHER NEWS

The New York Times @nytimes

Starbucks’s chief executive, Howard Schultz, says the company is considering ending its open bathroom policy.

nyti.msStarbucks’s C.E.O. Howard Schultz: ‘I don’t know if we can keep our bathrooms open.’Speaking at The Times’s DealBook D.C. policy forum, Howard Schultz said safety concerns have prompted Starbucks to reconsider its 2018 policy on customer use of restrooms.

Harrison Ford was on the  “ET” cutting room floor??!!!

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