The Schaftlein Report

Topics: 1) Mike discusses Jobs, the Economy, Inflation and the war in Ukraine as an Army veteran a. Home prices up 19% year over year - Mortgage rates at 4.8% are the highest in 3 years b. Gas is above $6 in California - Inflation is the number 1 issue for voters c. No breakthrough on Peace talks with Russians 2) Safety - Mike supports the Police, Military, the 2nd Amendment and Border Security 3) Mike will defend the country against all efforts to impose Socialism and socialistic efforts of the Democrats 4) Mike's Christian values are Pro-God, Pro-Family and Pro-Life 5) Mike is fiscally conservative and he discusses the recent Biden budget plan *Sen. Joe Manchin says NO to taxing unrealized gains 6) Mike discusses his support for Veterans, Health Care, Educating our kids and the environment 7) Generic Ballot favors Republicans as voters turn against Biden policies *In Florida, Republicans now outnumber Democrats by 100K - When DeSantis was elected, that number was Democrats +280K

Topics: 1) Russia says it will scale down military operations in Kyiv and other cities while Ukraine says it would become a Neutral state *Watch their actions, NOT what they say 2) Biden press conference fallout - Walk back or no walk back - Biden caught reading answers to reporters questions off CUE cards *We've said it all along, figuratively, he is not playing with a full deck of cards 3) Comments raised eyebrows: a. "In kind chemical weapons?" b. "82nd Airborne division in Ukraine?" c. "Remain in power?" 4) Ukraine releases the names of 600 Russian spies working in Europe 5) Consumer Sentiment Index hits an 11-year low as the view of the future falls primarily due to Americans concern over Inflation 6) Biden budget calls for $32B increased funding for police and an additional $31B for the military? 7) The lies in Biden's budget proposal which is the most reckless budget proposal EVER: *False assumptions on interest rate cost to borrow as interest rates rise, lowered inflation 2% next year assumptions -Ballooning 4.8% deficit to GDP forecast - The post war normal is 2.6% 8) Taliban breaks promise and will not allow girls to go to school past the 6th grade - Another Biden blunder

Topics: 1) Biden speaks the truth saying Putin cannot remain in power - The White House and official *Washington push back for stating the truth - Biden calls Putin a butcher *We support what the President said and we'll explain why 2) Devastating bad poll numbers for the President in NBC news and Reuters polls a. Biden approval at 40% while 54-55% disapprove in both polls b. Generic ballot has Republicans up 46-44%. c. Women have gone from 51% approval to 44% d. Latinos have gone from 48% to 39% e. He is upside down 30 points on the economy f. These are potential landslide election results for Republicans in the fall 3) 70% disapprove of Biden's handling of the war 4) 71% say the country is going in the wrong direction 5) War update - 40K Ukrainians have been forcibly deported to Russian camps a. Russians launch rocket attack toward Lviv b. Mariupol is now 85% destroyed c. Civilian deaths now total above 1,100 in Ukraine according to a United Nations Report d. China cancels $500M gas deal wit h Russian company for fear of sanctions 6) Zelinskyy says Ukraine willing to become a Neutral country as part of Russian Peace Deal *The next round of "peace talks" scheduled to begin Tuesday in Turkey 7) Biden to announce effort to raise taxes on people with new worth over $100M 8) Trump: "Biden's leadership is one train wreck after another" 9) Biden and Blinken push ahead on Iran Nuclear deal to a pessimistic Middle East audience 10) Biden gaffe - "Sending the 82nd Airborne to Ukraine"

Topics: 1) Biden and NATO meet to determine next steps in war - Civilian casualties mount 2) U.S. considering sending Anti-ship missiles to Ukraine *Russia threatens Poland 3) U.S. to allow 100K Ukrainians into the country 4) Senior Putin adviser quits due to war and others may also leave *Central Bank chief tried to leave and Putin said no, giving her a new 5-year-term 5) What steps will Russian elites take next if any? 6) An EU ban on crude could lead to much higher prices *U.S. is producing 11.7M barrels a day down from 13.0M in 2020 7) The U.S. can supply Europe with Liquefied natural gas but that will take time - We have lots of gas in this country 8) Jobless claims fall to the lowest level since 1969 at 187K 9) Judge Jackson hearings end and confirmation is likely the first week in April 10) Mayor Eric Adams lifts vaccine mandate for athletes and performers in NYC 11) Madeline Albright passes at 84 - First woman Secretary of State under Clinton

Topics: 1) 80% of Americans want MORE Fossil fuels while only 20% want Green Energy 2) Only 2% believe Climate change and the environment are a top priority 3) Americans feel worse off due to "Climate Progressives" and believe Democrats embrace of these policies are causing energy prices and inflation to go up significantly 4) Voters are really ticked off at Democrats for their soft on crime policies and the Southern Border fiasco 5) Biden is paying the price for cool relations with the Saudi's and the Iran deal is a major sticking point 6) War in Ukraine rages as a stalemate for now - 3 possible outcomes? a. Protracted war with continued fighting and loss of life and property b. A peace deal of some sort c. Putin overthrown 7) Biden to sanction 300 Russian lawmakers - Why not do more? 8) EU plans to curb Russian gas purchases where they current rely on for 40% - Goal is to fill storage to 80% 9) Biden under water in polling average at 41%-53% - A recent poll had his approval rating at 34% 10) Trump has a +12 on favorability over Biden, however in head to head match up Trump leads 45-42

Topics: 1) Russia and Belarus produce 40% of the worlds ingredients such as potash - Ammonia, nitrogen and phosphates are also used in fertilizer which is soaring up 30% this year - this and more leads to significant increase in food prices 2) The risk to both developing and developed countries of the possibility of a global food shortage crisis looms as the cost to make food rises *Supply chain bottlenecks are likely to worsen - Wheat is up 60% since February 3) A negative feedback loop is starting with chaos in commodity markets leading to chaos in the real world as conflicts increase - It potentially compounds and gets worse a. Anticipation of chaos can lead speculators to price in that risk and escalate risk premiums and costs b. Historically as cost of living increases across the globe, governments are replaced or collapse c. We are seeing another refugee crisis in eastern Europe - What other risks are pending? 3) Additional sanctions are being considered against Russia - 40% of all Russian trade is with the EU - China is 17% *Could Russia become more reliant on China as the western countries move away from doing business with Russia? 4) The Federal Reserve has lowered the 2022 growth projections to 2.8% - In December they were saying 4% growth *Just like inflation, their projections have been off lately 5) The 10-year-note is now yielding 2.38% reaching its highest level in 3 years, up 50 basis points in about a month - The 30-year-Note is at 2.59% *Mortgage rates are back above 4% 6) With Inflation still running hot, the Fed is openly telegraphing a 50 basis point increase at the next meeting - What are the implications? 7) The Fed is also considering reducing its $9T balance sheet - Will they do this simultaneously with raising interest rates? 8) What is the possibility of a 2022 Recession with all of the above items taken into consideration? 9) It appears the current strategy of NATO and the U.S. is a protracted stalemate in Ukraine bleeding the Russian economy and supplying just enough military equipment to keep the war going? 10K dead Russian soldiers and 16K wounded? How long can this be sustained?

Topics: 1) Russians suffer up to 14K combat deaths, stalemate in Ukraine, Civilians being targeted 2) Russia uses Hypersonic missile to attack a munitions depot 3) Zelenskyy calls on Putin to speak directly 4) Mariupol is leveled, an Arts school bombed with 400 kids sheltering 5) Mariupol citizens are being captured and taken to camps in Russia 6) NATO secretary General dodged repeated questions about what constitutes crossing a red line in the attacks on civilians and possible use of chemical weapons - He looked weak and his response was pitiful - He basically said he would NOT do ANYTHING that MIGHT escalate the war into Europe 7) Mercenaries are being sent into Ukraine to kill the leadership by Putin - Belarus amassing soldiers if called upon by Putin 8) Diesel tops $7 in CA 9) Biden polling: Handling of Ukraine -8, Strong leader -16, Economy -20, Crime -23, Border -24, Inflation -29 10) Soaring prices for everything to make food brings more inflation: a. Fertilizer comes from Canada #1, Russia #2 and Belarus #3 b. $715 an acre to plant corn - chemicals, seed, machine equipment fuel and labor all up substantially 11) Biden slammed for pursuit of Venezuelan oil while shunning U.S. energy producers bowing to the Climate nut jobs *The problem is the U. S. uses 19M barrels a day and produces 12M - the gap is 7M 12) Germany cuts deal with Qatar for Liquefied Natural Gas

Topics: 1) Biden calls Putin a War Criminal 2) Zelenskyy speech moves bi-partisan effort to secure more weapons - Biden to provide long range anti-aircraft systems and munitions *Scolds Germans for not doing more to help Ukraine 3) Russians kill 10 civilians waiting in a bread line 4) Media and Biden blame Putin for high gas prices - The public is not buying what they are selling 5) Democrats fume over high gas prices as they are being blamed - Progressives want less drilling and normal Democrats want more drilling 6) Biden to waive sanctions and allow Russia to build a nuclear power plant in Iran 7) DOJ criticized as soft on crime when federal arsonist (who supported BLM) is only given 10 years after killing someone in the fire *BLM leader and husband hit by federal fraud and conspiracy charges

Topics: 1) An emotional film followed by urgent requests for offensive weapons *Biden approves $800M in immediate aid including anti-aircraft weapons and drones 2) Russians continue attacks on Civilians in Kyiv - They are trying to surround the city and starve and bomb the population into submission as they have done in other conflicts in Chechnya and Syria 3) Polish President calls for Peacekeeping Mission in Ukraine? 4) Russians take 500 hostages in Mariupol from locals and hospital workers 5) Oil prices fall 30% from the recent high above $130 *Russia owes $115M interest payment on $150B of dollar debt 6) Insanity - House Democrats want Biden to declare a national climate emergency and bad all drilling on federal lands in the midst of a war - These people are CRAZY 7) In a further sign of cognitive decline, Biden refers to VP Harris as the First Lady? God help us for the next 2.5 years he is in office 8) China's zero Covid policy is failing badly as outbreaks in 28 Provinces escalate 9) Raskin withdraws her name as a Federal Reserve Governor as we predicted yesterday

Topics: 1) Russians increase shelling in Kyiv *Fox News camera man killed 2) Anti-war protester disrupts live Russian TV on their number 1 show 3) Various reports indicate Russian advantage in the war could cease in 14 days - Loss of equipment, poor morale and mounting loss of life 4) Ukraine asks for more weapons to fight the Russians - Speech to congress tomorrow *Negotiations continue with the Russian delegation - 3M refugees have fled the country 5) Economic fall out from the war - Ukrainian farmers are running out of fuel - Agricultural prices are likely to spike in Europe *Food shortages in Europe and the Middle East are coming 6) Russia is the world's largest wheat producer at approximately 30% - Ukraine produces 10% *If the conquest goes to the Russians, more control over food supplies will be in the hands of the Russians **The U.S. used to produce 30% and over the past 30 years, it has declined to 13% due to increased corn production with massive subsidies from the government for ethanol 7) Producer Price Index climbed 10% in February in the U.S 8) U.S. and Russia continue to engage in Iran Nuclear Deal talks - What a disaster policy initiative 9) Saudia Arabia considers accepting Chinese Yuan for oil purchases - U.S. and China have intense discussions over China's role supporting Russia 10) Sen. Joe Manchin says no to Fed nominee Raskin over her radical energy positions - Excellent *Fed to begin interest rate hikes **Conclusion - U.S. and NATO are ALREADY at War with Russia - We must recognize this and quit discussing non expansion of the war