We have a triple-serving today: Durable Goods, International Trade, and Retail Inventories.
Durable goods gives us an indication as to whether Big Spenders are laying out the ‘long green’ to keep economic hide-the-sausage working. Durables are goods expected to last three-years, or longer. Economists figure furnishing, outdoor equipment, appliances…that kind of thing. If Durable Orders are up, that used to be great news for Ohio. Since job-jacking and offshoring, the report may have more relevance to Korea, China, and Japan.
On the other hand, International Trade gives us a sense of how fast we are digging our National Finance Grave.
If we are spending more than we produce in ‘Merica, formerly the United States, we just print up more money and pretend that Modern Monetary Theory works. (It does, but only under certain conditions…and we presently have deflation going on, so counter-balancing inflation of the monetary base feels like a good thing. Ask us in 10-years how it worked out.)
Which leaves retail inventories.
When things are built for consumption (especially the big-ticket items, not like broccoli in the veggie section) are piling up in the back room – unsold – it says the consumer is trying to save money and going without.
You can make the argument that helping your personal balance sheet screws the country. Or, other way around: Buy, buy, buy! Save the Economy! (And see your personal balance sheet collapse in a pool of red ink!)
Enough of the white board lecture. I only offer such background when the morning needs to start with a good huffing of marker smell….aaaaahhhhhh/
To the reports then!
Advance International Trade in Goods
The international trade deficit was $68.0 billion in March, down $7.8 billion from $75.9 billion in February. Exports of goods for March were $140.1 billion, $3.4 billion more than February exports. Imports of goods for March were $208.1 billion, $4.4 billion less than February imports.
Advance Wholesale Inventories
Wholesale inventories for March, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $628.8 billion, up 0.5 percent (±0.2 percent) from February 2018, and were up 5.8 percent (±0.9 percent) from March 2017. The January 2018 to February 2018 percentage change was unrevised from up 1.0 percent (±0.2 percent).
Advance Retail Inventories
Retail inventories for March, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $625.6 billion, down 0.4 percent (±0.2 percent) from February 2018, and were up 1.6 percent (±0.5 percent) from March 2017. The January 2018 to February 2018 percentage change was unrevised at up 0.4 percent (±0.2 percent).
Dow futures up 55 after the data came out – about an hour ahead of today’s open.
The War With Mexico Begins?
Looks to possibly start this weekend as a bunch of leftist backed caravan members will be making an all-out assault on the US border this weekend.
Called a “mass crossing” (because the simple-minded media can’t bring themselves to call it an invasion) the media are once-again lying to We: Around here, it’s clearly an attack on the US border, but as we frequently bemoan liberals are coloring it as a “cause celeb” and arguing the rights in the US Constitution should be granted everyone.
No, my friend. We are being invaded by a coalition of narco-states to our south.
Insanity looks like this.
Speaking of Insane…
Would you elect someone to office who didn’t support Law and Order? I don’t think so.
But here in the Washington Times we read “New York Gov. Andrew Cuomo demands feds ‘cease and desist’ immigration crackdown.”
How such an [alleged] governor can hold office decrying the Laws of the Land is beyond me, except that clearly the liberal NE power elites must love him. Che would, I’m sure.
Out here in fly-over country, looks to us like ICE (Immigration and Customs Enforcement) is simply applying the law.
To be sure, we live in a land of too many laws…no argument there. Read Three Felonies A Day: How the Feds Target the Innocent.
But, with all due respect to the lefternor of New York, selective enforcement of laws is just another name for left-wing dictatorship, under the color of law. A crooked deal for everyone.
If Cuomo doesn’t like some laws, change the laws. Don’t encourage law-breaking. Although it’s what the left seems to do best.
Try this story on for size: “Judge: Bars are allowed to throw out Trump supporters.”
Why just yesterday, on the subscriber side, I was warning of the danger of judges legislating from the bench. In that New York Post story, no mention of the broader question: Were others wearing hats? Seems to us that all hats (and the people under them) are created equal. Just didn’t see that reported.
But, in today’s world of wannbe Bolsheviks and lefty-social justice weirdos, I guess hats – and humans – are no longer equal.
Speaking of the Social Just-Us Warfare
Did you catch on super-PC CNN’s report “Hank Azaria willing to ‘step aside’ from playing Apu on ‘The Simpsons’ ”
I am a huge fan of the Apu character – half his family calls with telemarketing messages from Bangalore daily! And they won’t stop calling!
By God, this is a whole new frontier of social monetization.
Take this SJW crap far enough and we’ll see future performance regulations (screw freedom in the arts – who needs it?). Let’s all get behind a movement to require only people who are from a specific country may voice or act in parts related thereto.
And then it’s only a short jump to telling writers they can’t write about a race they’re not a member of. Even to mention such would be taboo.
So, if I write a novel (which I have) and there’s a black person as a character in the novel (there is), I would hbe required to hire a black writer to write that portion. OMG what an industry, huh?
(They’d have to work free or share in the massive $324 in royalties from the book so far.)
Next, male it illegal for writers to write anything but characters of their (declared) sex. Males would be barred from writing the female characters into their books… I’d have to find a contributing female (which there are several of in the novel).
Then comes one person writing per character! In order not to run afoul “fake news” laws, you see?
OMG we could have whole new INDUSTRIAL REVOLUTION around this….That will save this late-stage Rome heap, for sure!
Seriously? When you think extensibly about these insane social justice notions, the world becomes unworkable in short order. That’s what they’re after and that’s why we call ’em Digital Bolsheviks.
Keep Apu’s actor and don’t be wusses.
Had a south Asian done a better job at the casting call and the job would have gone to someone else.
Oh…wait…doing the best job is not longer the point, is it? No, no, no.
See how “Working for Justice” is bullshit?
There was no doubt a casting call for the Apu part. And the directors hired the voice they thought would convey the imagery they were after.
Had a South Asian (Indian) read the part better, we would not be here in the psych ward.
Sheesh….pass me my crack pipe and the Zippo.
We feel a Manifesto coming on.
Don’t let anyone know that movements like social justice are just news media scams to keep the eyeballs glued and the ad revenue pouring in. But just between us, we know everything is a business model. Sticky stories are moneymakers.
And anyone who writes on FB or Twitter without getting a revenue check for their efforts is (in our view) an economic idiot.
It’s amazing the number of people pissing away their lives for ego.
Wait! You Mean Global Warming Could be GOOD?
Depends on how you take the article in the UK Daily Mail about how cold weather is more detrimental to people than, oh, a terrorist attack, for example.
Which gives me an excuse to pre-warn you about what will come next week: We’re expecting an onslaught of stories from warming proponents that will tell us how a record cold month in many areas is necessary for warming.
Which is why rum for breakfast makes sense. But, hey, who listens to us?
We walk around with ViseGrips, a few whiteboard markers, and some Appleton just to make it through the crap that passes as “news.”
Tell me if this will solve out problems?>
See how useful the ViseGrips are?
How about this one, then?
This is only mildly nuts, until you figure the inmate likely doesn’t have an income. Which means what?
Taxpayers are probably paying for both sides of a legal battle!
This is TFR (*totally freaking ridiculous)…but to out way of thinking, this is government arguing with itself…. ‘N’other pinch?
Save by this story, though:
Yep, that’s all we need: Bunch of cry closets. Can we bring in our work tools? ViseGrips, markers, and… No?
Off to watch the markets and work on Peoplenomics – for the grown-ups. Those brave souls not afraid of hard work or making money. Dangerous people that we are.
Moron the ‘morrow…