Summer is Time for Fishing

Some left-overs from my national radio appearance last night before we jump into the fresh employment data:  We have noted with interest the empaneling of a grand jury in Washington to hear the allegations about Donald Trump and “Russian money.”

I don’t know how much you know about the grand jury process, but having sat outside Courthouses (at the county and federal level) to watch the witnesses come and go (an unindicted perp walk) I can tell you these are some great quotes about the Grand Jury Process that are useful at times like this.

A collection of 25 can be found over here, but let me give you a handful of my favorites since I didn’t have time for the whole list of them on CoastToCoastAM with George Noory, last night.

(Continues below)

 

The first one is simple enough and deals with the theory of empaneling the jury:

“In our system, grand juries take every charge, every lie, and they try to sort the truth from the lies, and then they move forward into the system. And that’s how the system ought to work. We should respect the secrecy of the grand jury so they can sort through what’s true and what’s not. And someone is leaking, and if they are leaking from the grand jury investigation, then that’s a violation of the law.”

That’s the idea of the Grand Jury.  But what of the reality of them, especially in these days when everything from the most intimate secrets of a sitting president is front-page innuendo? Quote #2:

“In 1994 the U.S. Court of Appeals decided in the case of Oliver North to permit the release of grand jury evidence, because it had already been so thoroughly leaked”

Ah, and so it comes into focus:  Of all the institutions in a democracy, this one is the most dangerous.

So much so that it has been said:

A grand jury would ‘indict a ham sandwich,’ if that’s what you wanted.

Of all of the quotes on A-Z Quotes, this is the one I most enjoyed hearing.

As George Noory asked last night when we were talking about the widespread involvement of ‘local money’ in overseas real estate deals: “Since when did THAT become illegal?

Which gets us down to asking  “How’s fishin’ this summer?”  The grand jury need only hear a charge that if true would be a crime to report a ‘true bill.’  It won’t mean any crime has been committed nor that a conviction is in the wings.

My judgment on the timeline of all this is that world events – such as North Korea potentially setting off an enhanced-yield nuclear device – will likely overtake the glacial speed of the grand jury process.

Even so, no doubt in my mind that this does tip the balance of power one more notch against Donald Trump’s efforts to change “business as usual” in the District of Corruption.

The Swamp is, it turns out, bigger than anyone could have imagined and now that it’s getting on toward too late, we will just have to wait on events to unfold.

Count Your Friends Sept. 24th

Another topic we touched on is the astrological “sign” that is due on September 23rd.

Typical of the hopeful watchers is this video: https://www.youtube.com/watch?v=2HisoMaIpNY .

But as I mentioned last night, we have see so many “End Times” and “[insert] Rapture [here]” forecasts that we’ve managed to become somewhat jaundiced.

While we expect that all of our friends will still be Earth-bound on September 24th, it could just be that we need to run with a better class of people…

On to the Jobs Report…

Nothing to spice up a sleeping “morning after” an all-nighter than to see the latest Labor Department jobs number.

“Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, professional and business services, and health care.

Household Survey Data

Both the unemployment rate, at 4.3 percent, and the number of unemployed persons, at 7.0 million, changed little in July. After declining earlier in the year, the unemployment rate has shown little movement in recent months.

Among the major worker groups, the unemployment rates for adult men (4.0 percent), adult women (4.0 percent), teenagers (13.2 percent), Whites (3.8 percent), Blacks (7.4 percent), Asians (3.8 percent), and Hispanics (5.1 percent) showed little or no change in July.

Among the unemployed, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.8 million in July and accounted for 25.9 percent of the unemployed.

The labor force participation rate, at 62.9 percent, changed little in July and has shown little movement on net over the past year. The employment-population ratio (60.2 percent) was also little changed in July but is up by 0.4 percentage point over the year.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 5.3 million, was essentially unchanged in July. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.

Now to the details:  The CES Birth-Death Model (estimating jobs) contributed 158,000 to the employment roles for the month. which means 75.6% of the gains were estimated into existence.

U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force stayed level at 8.6%

Trade Data

A little bit of warmed-over data to dispense here, as well.  Press release, please?  This snip oughta tell you what you need:

Bet you feel better already.  Dow futures were +58 after the report.

RINOs and their Labels of Convenience

We notice the report over here by Americans for Tax Reform that republicans are fully in charge in 26-states now.

Once upon a time in this great Nation, that would ensure a land of lowering taxes and progressively shrinking central government.

But, like all fairytales, that one has aged poorly and has been pushed over the cliff; the evidence burned.

In our search for any core belief that bind the fraudster party together besmirching traditional republican values, we’ve only been able to identify a belief in the Easter Bunny and a taste for orange juice for breakfast as near-universal.  Other than that?  In Name Only.

Another Death-Knell for Cars

Touched on this in Thursday’s Coping section.  But seems to be more than a purely US-based phenom as “UK car sales fall 9.3% in July says motor trade body.”

And related to this morning’s report in Coping on my colleague Michael’s move to a hydrogen fuel cell hybrid, please note “VW to offer incentives soon for diesel owners to adopt cleaner models.”

More folks for the Toyota Mirai test projects?

Here’s a trivia item for you:  In 2010 the Cayman Islands had 33,083 cars, trucks, and taxis registered.  This in on an island only 22-miles long and with a population 55,507.  Just to think about how absurd the Western fixation on autos is and how deeply it runs.

Futuring: What Are They Telling Us?

Every so often a story comes along that seems to relate to an implied future.

This morning’s example is this: “Nothing cold about sub-zero rates, IMF researchers find.”

They’re talking about negative interest rates.  So, it struck us as odd…in fact plain old weird…that a central bankster group would be talking about negative interest rates so openly.

Is this planting the seed far and wide that the present economic depression (in terms of purchasing power parity which has failed in some respects to keep up with how things were back in 2000) has more and further to go?  That negative rates are in Janet Yellen’s just-in-case options when the mighty money-pumped market binge finally goes cold-turkey?

I expect it does, but noticing the “news” that “negative rates aren’t so bad and may be useful” at this juncture in world economic history seems curiously timed.  Perhaps a “heads-up” to the alert reader who may learn of the future from such reveals as this.

Free Marketing Advice

We found this of interest, as well:

RBS plans to make Amsterdam its EU base after Brexit.”

Seems to us they will need to rebrand their bank.  If what was the Royal Bank of Scotland isn’t in the UK, wouldn’t this make it the “Royal Bank of Europe?”  We’ll watch the RBE with interest going forward.

Comments

Summer is Time for Fishing — 22 Comments

  1. Hydrogen fuel cells? Toyota just gave up on them. Some kind of solid Lithium batter is their new bet.

    • That makes North Korea the next real hot spot of the planet.
      Now who will gain that terrain.. North Korea keep control, China the manufacturing hub of the globe, The United States..
      An interesting thought.

  2. Many years ago I downloaded all this internment info on my puter and it wasn’t long before my whole puter crashed. Coincidence? We shall see if lightening strikes twice!

  3. I served on my county’s Grand Jury many years ago first as a member and the following year I was appointed foreman.

    Here’s the deal on inditements: the DA only has to present their side of the case since there is no cross examination. We could ask questions but the reality is that if the DA wants to win, they will.

  4. Trump, the grand jury, Russia..

    What’s funny is I was listening to a body language expert reading Trump and this associated with this issue..
    According to them the ones being deceptive are the accusers.
    So either they are all extremely good liars or they’re telling the truth.

  5. Meh, a grand jury is SOP. As many are convened at the Federal level to obfuscate, as to seek… Assuming evidence is presented properly and nothing withheld, they will find nothing actionable against anyone. When Mueller ends his investigation though (probably shortly after the 2018 election), he will present his “notes” to CONgress, at which time there may be a discussion of impeachment — not because Mr. Trump will have committed any impeachable offense, but to keep the kabuke rolling into the ’20 election cycle.

    Having put in over 1700 miles between Tuesday AM and Wednesday PM, I wasn’t sure I’d make it to your c2cAM spot. Not only did I, but managed to hang on for most of Michael Horn’s segment — interesting, scary, and if you’re an Insider, worth the download — just sayin’…

  6. Mama Cass died from choking on a ham sandwich. Where was the Grand Jury on that one?

    • That is urban ‘legend’ – she actually died from a heart condition of some kind . . .

      • I remember the headlines at the time. They were then reporting she died of a drug overdose.

    • it has been said that if Mama had given the ham sandwich to Karen Carpenter, they would both be alive

  7. Any one who wants the truth, should read: “The Secrets of the Federal Reserve” you’ll be surprise who the ‘swamp’ really is.

    • Oh read the creature from jekyl island.. great book a really fast read.. I usually research every chapter of every book..that one had me so involved I read it from front to back..I think about five hours or so..a great Saturday morning relaxed coffee read..

    • Or rhubarb farming will expand significantly..
      Aquas flow batteries aren’t that new it’s basically a fuel cell similar to a hydrogen fuel cell and energy is stored. I believe cerametec and 3M, general electric etc have been playing with them for decades. Some using other more common materials.www.popsci.com/michael-aziz-makes-battery-rhubarb-sort

      Herman Anderson actually gives a more down to earth explanation on the process.
      If my understanding is correct the downside to this is the waste electrolytes during the process doesn’t lithium make a substantial change making it extremely hazardous.
      https://m.youtube.com/watch?v=LzsTij4N4uw
      https://m.youtube.com/watch?v=QANOgLlw5SA

  8. Hey Mr. Ure! I wasn’t able to tune into Coast to Coast last night as my internet went down. What are the cliff notes of discussion if i may so ask?

    Also, another interesting question… If things seem to be looking bad enough for hungry people to be walking out of the city, wouldn’t that mean that is total reset and government globally (in the west, i figure in the east they still have roots in agriculture and natural eating.) would be over for a while and as such the AmRev 2 (and possibly other global freedom rev’s) would come into play?

    • Find someone who’s a Coast Insider and have them download the mp3s of last-night’s show for you.

      People in cities typically have about 3-days of food; grocery stores and fast food joints, less than an additional day combined. In a grid-down, there’s no resupply. There’s also no electricity, gas, water, or sewage, no way to accept your VISA card at the pump, and no juice to pump the petrol, should you have cash. In a hard-down, the grid doesn’t come back up. After an EMP (or HEMP), your car, cellphone, and that GPS app may not function, either.

      Five days into a grid-down people will get hungry, and less-than-tolerant of living in the midst of their own bodily-waste and rotting (formerly frozen) food. This applies to local politicians and police, and the reservists, as well. Nobody’s going to be taking orders from anyone, after their families run out of food.

      What would you do…?

      There would be no revolution, per-se, because there’d be no-one against whom to revolt. What there WOULD be is total anarchy, as people fought and killed each other to acquire sufficient sustenance to raid outlying farms and stockyards, before they themselves died of starvation. Those who made it would then form feudal groups and become really dangerous.

      History rhymes. The fact that we who live in CONUS (and Canada) haven’t witnessed this type of barbarism in our collective memories will grant us no immunity from it, when the SHTF.

      Hungry people, especially those with hungry children, will shelve their conscience, and the facade of “civilization” and civility we’ve worn for 125 years, once their bellies have been empty for a few days.

      The best place to be is “elsewhere.”
      The best time to be there is “yesterday.”

      If you can’t be there “yesterday” (or at least by tomorrow, since very few of us can), have a means of flight at all times and an escape route which bypasses the inevitable looters, rioters, and stalled cars, and flee, no later than when the looting begins. You need 50 miles at your back, and a place to hide, before anyone else leaves town.

      It is a bleak scenario, and one I hope never comes to pass, but it is also a scenario we’ve invited for 50 years. I’ve little faith in the PTB to do right by us tomorrow, based on their abysmal track record of all our yesterdays…

  9. George, the 26 fully Republican states do not enact more tax cuts because they do not want to repeat the Kansas debacle. This supply side dogma is just pie in the sky nonsense. In the real world, unless you triple the national debt like Reagan did, you need to keep the money in the hands of the middle and lower classes that spend it, thereby spurring demand, instead of dead pools.

    And since we’re on Conservative fairy tales, whatever happened to the death panels and the FEMA internment camps?

    That said, I still follow you every day since I got on to you about 10+ years ago from C2C, and enjoy your take on economics, even if your politics are less than robust. Best, Mike.

  10. “The Swamp is, it turns out, bigger than anyone could have imagined and …” I feel sort of stupid to point this out again, because The Swamp is US, but we feel more comfortable if it was THEM ;-)

    • “The Swamp is US”

      Exactly.

      Make no doubt about it, every ‘Conservative’ at GM took the bailout.

      And if George is right, commercial RE going over the falls, most of the Trump supporting “Conservatives” will agree with bailing them out.

      The bailout will be framed as ‘bailing out main street America’. But big malls and commercial holders, like Trump, will get the most bang from our bucks.

      • yeah, so? Obummer gets the high stakes prizes all his book deals, speaking engagements, just like Clinton 1, and Clinton who wears the pants 2; so what? Didn’t you hear? Bezos is taking over the world, you’ll buy everything through him and his companies eventually and you’ll love doing it and 9 out of 10 people will lose their jobs or become low wage slaves WITH NO BENEFITS, thanks to obummerain’ttheregoobercare. It’ll be the big ole bail in – we are all in!