Good morning everyone,

President Biden has had a tough week, with impeachment inquiries, an indictment for his son, Hunter, a major nationwide union strike, worrisome poll numbers, and an upcoming meeting with Ukrainian President Volodymyr Zelenskyy. All in a day's work as leader of the free world. Things for Donald Trump have been relatively quiet, as have the other Republican presidential nominees. However, the same can’t be said for House Republicans. Let’s see what there is.

In today’s edition:

• Stock watching

• Joe Biden faces impeachment as Hunter Biden is indicted on firearm charges

• Looming government shutdown with Republican infighting

• United Auto Workers strike causes a new headache for Biden

CONGRESSIONAL STOCK WATCHER

• The lobbying firm Miller Strategies held a party last night celebrating a move to a new office building.

  • Over a dozen members of Congress attended, including: Ted Cruz, Jared Moskowitz, and Marjorie Taylor Greene.

• We are more than 250 days into 2023, and Representative George Santos still hasn't filed his annual financial disclosure for 2022.

  • Santos is facing federal indictments for lying on past filings.

  • He will likely pay a $200 fine at most for filing this one late.

• Raytheon, $RTX, has fallen 7% today - hitting 52 week lows.

  • Representative Daniel Goldman sold stock in Raytheon in July.

  • Tuberville sold all his Raytheon stock last year.

• Lockheed Martin just disclosed $3.4M of new lobbying spending.

  • They have disclosed $10.4M of lobbying spending in the last year.

  • Lockheed Martin received over $40B from the U.S. government in that period.

• US Representative Lloyd Doggett just disclosed a purchase of stock in the consumer health company Procter & Gamble, $PG.

  • Doggett is the chairman of the House Ways and Means Subcommittee on Health.

• Rep. Ro Khanna has introduced a political reform plan which includes:

  • Ban on congressional stock trading - Ban on political donations from lobbyists or PACs - 12-year term limit for Congress

• US Representative Kevin Hern just disclosed purchases of stock in the energy companies Magellan Midstream and Oneok.

  • Hern sits on the House subcommittee on energy and natural resources.

  • It is estimated that he has traded $8M of stock and options in the last year.

• Nancy Pelosi has announced that she is running for reelection.

  • She first entered Congress over 35 years ago. She is now 83 years old.

  • It is estimated that her family has traded $14M of stock this year.

Be on the Lookout:

Rep. Ro Khanna is raising heads as he calls for reforms on congressional stock trading and banning donations from PAC’s and lobbyist. There is also a looming government shut down near the end of September that will likely cause some movement in congressional stocks.

Joe Biden Faces Impeachment and Hunter Biden Indicted on Firearm Charges

September 14, 2023: According to court documents, Hunter Biden, the son of President Joe Biden, has been formally charged by federal prosecutors with firearm-related offenses. This historic indictment was issued on Thursday in a federal court in Delaware and encompasses three specific charges linked to the possession of a firearm in conjunction with narcotics.

The first two counts accuse Mr. Biden of providing false information on a form during his purchase of a Colt Cobra revolver in October 2018, where he allegedly claimed not to be using illegal drugs. The third count pertains to the alleged possession of a firearm while under the influence of narcotics. The case is being entrusted to special counsel David Weiss, who originally led the investigation into the younger Biden.

The indictment comes just days after House Republicans opened an impeachment inquiry into President Joe Biden on allegations of abuse of power, obstruction, and corruption. Despite much debate to the contrary, the Republicans, as well as most political advisers, do believe there is enough evidence to at least begin an inquiry. The hope for Republicans is to obtain bank records and other documents from the president and his son in order to investigate personal business dealings between multiple organizations, including Ukrainian and Chinese officials.

If President Biden is impeached, it would make him the second president in a row to be impeached and leave the 2024 showdown, which currently looks to be between Biden and Trump, as the American voter’s choice between two men who have been impeached due to corruption and immorality inquiries.

Looming Government Shutdown As House Republicans Face Revolt

September 15, 2023: The United States' government is headed towards another potential shutdown, possibly as soon as October 1. There are a multitude of reasons, all of which come down to party lines, spending disagreements, and infighting among Republicans.

Earlier this year, Kevin McCarthy took on the role of Speaker of the House and has had the near impossible job of balancing his more extreme colleagues with the moderate members of the party. Evidently, Speaker McCarthy is currently in a difficult spot as the shutdown looms, due to a Republican bloc led by Matt Gaetz (R-Fl) that has threatened to remove him from his role unless he complies with the bloc’s demands. This is partially why the impeachment probe is taking place.

McCarthy has been advised by Gaetz and other Republicans to avoid complying with Democrat’s demands for the budget and force a shutdown if necessary. The position remains precarious, which will likely force him to break the requirements that the Gaetz coalition set or face the responsibility of the government shutdown. According to some experts, it is highly unlikely that McCarthy will be able to keep the Republican Party united while submitting something to, then obtaining approval from, the Democrat-controlled Senate.

There is no timeline for how long a shutdown would last if it could not be avoided. As it currently sits, it's likely Gaetz and his allies in the House are willing to hold up the process until McCarthy cedes to their demands, even with the unlikely chance that the Senate accepts any outcome.

United Auto Workers Strike, Causing New Headache for Biden

September 15, 2023: The United Auto Workers Union voted to begin striking at midnight against all three of the "Big Three" automakers: General Motors, Ford, and Stellantis. Such a strike against all three manufacturers is unprecedented. This happened after last-minute talks to avert the strike, focusing on a new contract, crumbled. The three companies employ about 150,000 union-aligned members throughout the United States.

The UAW wants a deal where they can compete against the comparatively cheaper production lines of new automakers like Tesla. The White House stated that President Biden spoke to both sides to avert the strike, but to no avail. Axios, citing The Anderson Economic Group, states that the strike could cost the U.S. $5 billion over just 10 days. If the strike is not concluded quickly, there could be much larger ramifications for the U.S. economy, already at a time when Biden is suffering from low approval ratings for his handling of it. Former President Trump is also making overtures to the UAW employees, who could tip any election in purple states such as Arizona or the Midwest.

• Car rams anti-reform protestors in Israel - Sebastien Gray

• Irish terror search leads to discovering bomb materials, weapons - Bianca Bridger

• The United States and Vietnam improve the alliance - Joshua Paulo

• North Korea launches new tactical nuclear submarine - Tessaron

• China’s economic deceleration and it’s ramifications - Stanford Nix

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