The IMC Morning Report for 7/18/25
The Frantic Friday Edition
IMC’S MORNING REPORT FOR FRANTIC FRIDAY 7/18/25 #franticfriday #imcmorningreport #NeverBeSilent #PeacefulResistance
“It is to be regretted that the rich and powerful too often bend the acts of government to their own selfish purposes.” Andrew Jackson (Brainy Quote)
Rodger Isom: Publisher, Editor, Liberal, Boomer, and Grumpy Old Man, Est. 1948
Frantic Friday is here in Trump Land IMC and Substack subscribers. The Patriarchy is frantically trying to squelch the Epstein Scandal, reach trade deals with anybody, explain rising inflation, while dismantling the social safety net and handing more wealth to the uber rich. I have no idea how it will turn out. I suspect like most Ponzi Schemes the Trump Patriarchy will implode over time.
The real issues are how much damage will be inflicted on the nation and how long will it take for repairs. One thing is obvious. Whether controlled by Democrats or Republicans, Congress needs to take back it’s power from the Executive Branch. The purpose of the Executive Branch is to execute (carry out) the laws passed by Congress and not the other way around IMHO.
TRUMP PATRIARCHY where Dumbassery, Quackery, and Confusion abound.
The latest AP-NORC poll taken over the weekend found that 49% of respondents felt that the Liar’s policies had made their lives worse. 22% felt the policies had little or no impact on their lives. Only, 22% felt the policies had made their lives better (Hill). The 22% who felt they were better off must be the rich folks (snark).
The U.S. health department has turned over the Medicaid records of 79 million enrollees to ICE. Most of the enrollees are U.S. Citizens. The move by the Patriarchy is probably violating HIPPA laws (Reuters). I wonder what percentage of MAGA voters are on Medicaid?
BUSINESS It’s always the economy stupid.
The Federal Reserve is reporting that business in all 12 Federal Reserve Districts have had costs increase due to the Trump Tariff increases. Many are passing part or all of the increased costs on to customers. Those that aren’t are seeing a drop in profit margins (Hill). As more “deals” are reached. Tariff costs will increase as the Trump Tariffs are placed on top of existing tariffs if any.
The recent economic reports show the American economy is still strong. Retail sales rose .6% in June. Core retail sales rose .5%. The May numbers were revised down. Weekly jobless claims fell 7,000 to 221,000. However continuing claims rose 2,000 to 1.9 million (Reuters). Remember, inflation rose in June to 2.9% when food and energy costs were removed. I bet you the Fed will leave interest rates alone and not lower them because of the strong showing. I could be wrong. I’ve been wrong before.
GOVERNANCE Government in action and inaction.
The MAGA House passed an $832 billion defense funding bill. This is the only the second funding bill passed this session due to the MEGA MAGA Bill sucking all the air out of the House. The bill passed mostly on a party line vote 221-213. Five Democrats voted for the bill. Three Republicans voted against the bill (Hill). Congress allocated $814.4 billion in funding for 2024. Apparently, DOGE cuts have had little impact on the funding for Defense.
The MAGA House approved the Senate version of the first batch of DOGE cuts 216 to213. The Bill now goes to the Liar for his signature (Hill). Congress and the Liar are trying to cover the massive tax cuts for the wealthy and deflect attention from the growing deficit by pointing to the DOGE cuts. Seems the shell game is popular still in Washington.
The report is short today due to an early dentist appointment. Hard to fit it in amongst the summer brace adjustments (snark).
Be peaceful. Respect only those you know and trust. Never let the bullies from either the left or right silence you. Just two retired and V8 Boomer Christian Democrats sipping expensive imported coffee while trying to fit it all in. Sometimes life requires a black market for smuggled coffee, thank You God.