Or, is that a vote in your pocket?
Stock prices were flat to slightly down. Perhaps on the realization that America doesn’t really do much any more except sit around a whine.
Warning flag about too strong a dollar and massive deflation: Oil futures were under $78 this morning..a very bad deflation indicator. The Ure discontinuity area approaches where free money should send stocks to the moon, but deflation sends them to zero at the same time. That’s when people hold back spending expecting lower prices, not higher.
News-wise there isn’t much economic guidance to be found. A minor report on International Trade is out, and I suppose we could talk about that…
The U.S. Census Bureau and the U.S. Bureau of
Economic Analysis, through the Department of Commerce, announced today that total September exports of $195.6 billion and imports of $238.6 billion resulted in a goods and services deficit of $43.0 billion, up from $40.0 billion in August, revised. September exports were $3.0 billion less than August exports of $198.6 billion. September imports were $0.1 billion more than August imports of $238.6 billion.
What doesn’t make sense is how strong the dollar is, but that isn’t really too surprising. For one, Asia is a nice place to invest, but without the Great Dumping Ground of the American market, have those countries would be out of business.
Europe isn’t much better off. When the EU started with something like 13 bankrupt countries, it was a good call to expect an eventual implosion. Today the EU sports 28 1/2 members (the half being Ukraine) but the balance sheet madness hasn’t stopped. In time, it will turn out to be a form of financial communism. From each according to their assets, to each according to their socialist over-spending.
So yeah, the risk inherent in investing in the currency of this EU Ponzi scheme pales in comparison to investing in the USA.
Market reaction tomorrow will tell us what the future will hold. Although my money is still on the R’s winning the majority, that leading to a split government, and that meaning we won’t get anything much done.
The Robots Are Coming, The Robots Are Coming
As is not unexpected, while the right is warming up to crow about today’s election results, not seeing the possibility of multiple court showdowns in the aftermath as described in our “Coping” section to follow, we see further evidence that the political right is still asleep at the switch. Strategically speaking.
While the spoke-sploiters of the right come out with books like Rush Revere and the American Revolution: Time-Travel Adventures With Exceptional Americans ($12, Amazon), they are again looking through the telescope backwards, I’m afraid. Good reading, sure, but looking the wrong way and appealing to yesterday’s demographics.
What they SHOULD be Revere’ing about is the arrival of robots and software platforms that will result in a Depression Era level of 38% unemployment within 10 years. A look ahead, solving the Whole Economy Blows Up problem when there are no jobs…now that would be more useful, know what I mean?
Need a few headlines to make the case? Sure – try these on:
John Oliver Warns About the New Lowe’s Robot Sales Assistants
To be sure, there is much to be learned from the Constitution and yes, we used to have exceptional Americans. But if the story about a certain democratic senator being involved in trying to steer IRS into targeting the right wingers is true, just more one more nail in the coffin of how those days of exceptionalism may be long gone. OK, are not may be long gone.
If you read just those headlines about how the robots are coming, you’ll see jobs of store customer service clerks going, naturalists being replaced by robots and bartenders, too.
Being generous, I’ll offer Rushbo and other conservatives a bit of unsolicited advice: Instead of focusing so much on the past, a little more focus on future would go a long ways toward reestablishing American Excellence.
We can’t undo the errors we’ve made as a country since Eisenhower and Kennedy. But we can get back ownership of cheaper, better, faster, more functionality all around, and get past letting Japan, China, and the rest of Asia lap us with “kaizen.” Self-sufficiency can be more than a wet dream if we work at it.
Kaizen (???), Japanese for “good change”. It has been applied in healthcare,[1] psychotherapy,[2] life-coaching, government, banking, and other industries. When used in the business sense and applied to the workplace, kaizen refers to activities that continually improve all functions and involve all employees from the CEO to the assembly line workers. It also applies to processes, such as purchasing and logistics, that cross organizational boundaries into the supply chain.[3] By improving standardized activities and processes, kaizen aims to eliminate waste (see lean manufacturing).