The COVID shutdown was an exceptional event. The consequences from the shutdown do have ripple effects; however, the strength of the underlying economic foundation is now coming back into focus as the rebound starts taking shape.

Last week most economic analysts were stunned by the 2.5 million jobs added to the economy in May. As we shared earlier, the result wasn’t so surprising when you consider the framework of the Paycheck Protection Program (PPP) worked exactly like President Trump and Treasury Secretary Mnuching planned. The incentives within the PPP program did what they were intended to do; small and mid-sized businesses retained or rehired their employees.

Inside the foundation of the Trump Main Street economy, the cement that binds the America-First policy, are a series of pre-established economic policies that specifically targets middle-class workers. The foundation is made strong by net wage gains and earnings amid mid-tier workers; those wage gains are made more important by policies that keep inflation in check.

Blue-collar workers, on average, were fortunately positioned to ride-out the COVID shutdown. With the shutdown over; Main Street now quickly fires back into action.

The demand for mortgage applications rose five percent last week, resulting in year-over-year growth over 13 percent. Again, this result stuns the experts. Demand for home purchases remains high and people are confident in their income security to make big decisions on home financing. The visible strength of Main Street cuts against the naysayers and doomsayers who thought the COVID shutdown would collapse the economy. It didn’t.

It did not, because (a) the shutdown was an exceptional event; and (b) the underlying foundation is stronger than the blow it took from the COVID sledgehammer.

(Via CNBC) “The recovery in the purchase market continues to gain steam, with the seasonally adjusted index rising to its highest level since January,” said Joel Kan, an MBA economist. “Purchase activity increased for the eighth straight week.”

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The DC circuit court of appeals has oral arguments scheduled for this coming Friday as the DOJ and Flynn defense both request intervention.  In the interim the underlying case continues in Judge Emett Sullivan’s court.  Part of that underlying case activity was a request by Sullivan for an Amicus briefing by court appointed lawyer John Gleeson.

John Gleeson is essentially filling an assignment by the judge to assume the role of prosecutor and inform the court through an amicus briefing.  That brief was filed today [pdf available here and below].  Within the brief, and counter to the position of the DOJ with new information, Gleeson claims the predicate for the investigation of Flynn was valid and sets out to launch his argument from that foundation.

In essence Gleeson is defending the origin of Spygate/Obamagate and all the downstream consequences from that originating decision; one of those origination issues was an investigation of Michael Flynn; and one downstream consequence was an interview of Flynn under the guise of the dubious originating investigation authority.

Assuming the role of “Spygate” defender is an interesting effort by John Gleeson; considering that Gleeson should have little knowledge about new discoveries into the DOJ and FBI predication activity in 2016.  The discoveries by USAO John Durham (Spygate in total) and USAO Jeff Jensen (Flynn case specific) should be unknown to Gleeson as he attempts to frame his argument.

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White House Press Secretary Kayleigh McEnany holds a press briefing in the Brady room. Anticipated start time 2:00pm EDT.  [Livestream Links Below]

UPDATE: Video Added

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Fox News with Bret Baier broadcasts the second segment of their interview with U.S. Attorney General Bill Barr.  The interview begins with a discussion of recent rioting and the activist groups who participated in looting, arson and attacks against police.

AG Barr notes the ‘spygate’ investigation into DOJ and FBI conduct so far indicates that for the first time in American history, the police and national security apparatus was used to spy on the Trump campaign.  Additionally, the AG cautions people not to read into the lack of indictments as the investigation remains ongoing.

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President Donald Trump has noted the unusual behavior of the Buffalo protester who was captured on a now-viral video last week:

Coincidentally, as we noted at the time of the incident something does indeed seem sketchy with the behavior of Mr. Martin Gugino both before and during the encounter.

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Mr. Martin Gugino is a 75-year-old professional activist, agitator and Antifa provocateur who brags on his blog about the number of times he can get arrested and escape prosecution. Also, according to Buffalo Mayor Byron Brown remarking on the incident: “here has been vandalism, there have been fires set, there have been stores broken into & looted. According to what was reported to me, that individual was a key major instigator of people engaging in those activities.”

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A remarkable admission by former Virginia Governor Terry McAuliffe during a campaign strategy call to DNC officials outlines the 2020 strategy for Joe Biden.  McAuliffe is one of the key professional Democrats dialed-in to the overall plan.

In a video-conference with Virginia democrats what McAuliffe outlines is what we are already seeing with the purposeful use of the George Floyd narrative and the pre-scripted video from the Biden/Clyburn campaign.  Key excerpts:

WASHINGTON – […] Democratic officials are broadly “preferring” that Biden stay out of the limelight.

[…] “People say all the time, ‘Oh, we got to get the vice president out of the basement,'” McAuliffe told the “monthly breakfast” of the Norfolk City Democratic Committee. “He’s fine in the basement. Two people see him a day: his two body people. That’s it. Let Trump keep doing what Trump’s doing.”

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This is one of those transparently predictable outcomes from allowing “space to destroy” via chaos, riots, looting and arson happening without law enforcement empowered to stop it. Few of the looted and destroyed businesses in Baltimore ever reopened, creating a worse situation for those who now have to travel to find a grocery store or pharmacy.

The same Chicago mayor who blocked police and law enforcement from curtailing the chaos, is now pleading with the looted businesses not to leave the city. Madness…. ideological madness.

CHICAGO (WBBM NEWSRADIO) — Mayor Lightfoot said she’s hopeful major retailers will reopen the Chicago stores that were looted or otherwise damaged during protests surrounding George Floyd’s killing by police in Minnesota. But, she’s unsure of one of the biggest.

Mayor Lightfoot said she was on a conference call with Walmart and other major retailers that had stores looted or heavily damaged during the unrest in Chicago. She said she pleaded with them to not abandon Chicago. (read more)

These latest remarks from Mayor Lori Lightfoot come after distraught Chicago officials have been begging for help and warning that many vulnerable precincts have completely lost access to food stores and medicine.

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Fox News host Tucker Carlson has a brief interview with former Acting DNI Ric Grenell about his experience within the DC bubble. As Grenell notes the permanent administrative state is a big problem.

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Attorney General Bill Barr sat down today with Fox News’ human cabbage patch doll, Bret Baier, to discuss recent racial antagonism, arson, riots and unrest throughout the country, as well as potential new developments in the Jeffery Epstein case.

Within the interview AG Bill Barr does a good job outlining the Trump administration policies and efforts that were already in the works prior to the George Floyd killing.

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An argument can be made that the reason Democrats are trying to stir-up racial anxiety is precisely because President Trump is making concrete improvements on issues that have structural benefits to the lives of black Americans.

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Earlier this afternoon President Donald Trump participated in a roundtable discussion with state, federal, and local law enforcement officials on police and community relations. Joining President Trump was Vice-president Mike Pence, chief of staff Mark Meadows and Attorney General Bill Barr.

Traveling to the White House to participate in the discussion was: Chief Steven Casstevens, President, International Association of Chiefs of Police; Pat Yoes, National President, Fraternal Order of Police; Sheriff Tony Childress, Livingston County, IL; Ashley Moody, Attorney General, FL; Daniel Cameron, Attorney General, KY; and Sergeant Rob Pride, Loveland Police Department, CO. [Video Below – Transcript Will Follow]

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President Trump affirmed:

“There’s a reason for less crime. It’s because we have great law enforcement. I’m very proud of that. There won’t be defunding. There won’t be dismantling of our police. There’s not going to be any disbanding of our police.”

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