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What a crazy couple of days. RFK Jr. suspended his campaign and endorsed Trump. Later on that evening he appeared on stage at a Trump rally and coined what is going to be his catchphrase "Make America Healthy Again". I think this is likely to be a game changer, but we will see.

RFK Jr. on Fox News: “The most profitable thing today in America is a sick child” “We need to get the corruption out of FDA, out of NIH, out of CDC” “They have become sock puppets for the industries they’re supposed to regulate” “Right now, 75% of FDA’s budget is coming from pharmaceutical companies. That is a perverse incentive. Scientists and officials at NIH who incubate drugs for the pharmaceutical companies get to collect lifetime royalties from those products. These are regulators. They’re supposed to be looking for problems in those products. They’re not really interested in public health. Everybody’s making money: the hospitals are making money, the pharmaceutical companies are making money, even the insurance companies make money. We need to end those perverse incentives, we need to get the corruption out of FDA, out of NIH, out of CDC.”

https://x.com/Holden_Culotta/status/1827754817336254781

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RFK Positioned to Break Up the Medical and Bio-Scientific Deep State if Trump is Victorious

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Meanwhile, the Biden administration has ended RFK Jr.'s secret service protection.

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Gavin Newsom Mocks ‘Open Process’ That Crowned Kamala The Democrats’ Nominee-Daily Wire

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Trump is trying to bury the hatchet with Kemp, but it looks like he is continuing to step on rakes. The Democrats continue to try to convince people that he will bring a national abortion ban even though he seems quite happy with the issue being decided in the states. This appearance by Vance is getting some backlash.

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In a blow to free speech Pavel Durov was arrested in France:

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Here's a part of his interview with Tucker Carslon where he said the Democrats requested Telegram disclose all private conversations related to Republican protesters

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Rumble CEO not taking any chances:

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Everyone seems to have forgotten about the attempted assassination and the investigation looks more and more like a cover up, but multiple secret service agents have been put on leave.

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Alliance optimistic courts will rule against anti-ESG laws-OK Energy Today

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University Of Nebraska-Lincoln Shuts Down DEI Office, Eliminates $320k Vice Chancellor Position-ZeroHedge

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Elizabeth Warren was out of her league trying to defend price controls. I don't think they actually plan to do it, it's one of those ideas that appeals to people who don't know any better.

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Boeing employees not happy that SpaceX will have to rescue stranded astronauts. Stock looks shortable if it bumps up against the 50 day moving average.

Masks work?

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Market

Powell told the market what it wanted to hear on Friday and Ueda turned out to be a nothing burger. The market is now set up for a test of all time highs. The wildcards are going to be whether we get 50 bps or 25 in September. If it's 50 does the Fed know something about the economy that we don't. Speculation will also continue on whether we get a soft or a hard landing. I still am in the hard landing camp and I think the economy is not nearly as strong as the numbers (pre and post revisions) show.

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The big event this week is NVDA earnings on Wednesday.

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