Let’s see here: Biden is playing for time. Trump’s in trouble – Secret Service secured the White House because of gunfire (outside) – We just passed 20-million cases of CV-19. And, oh year, the federal budget is a train wreck due to massive making up of money. Soared through 26 1/2-trillion dollars now.
Think tanks, like the Cato Institute have been warning for years we are: “Marching to a Federal Debt Crisis.” But that story is almost a year and a half old. And 6-trillion of debt ago…
When I got up at 4 AM today, the Dow futures were up more than 300 points and that was on top of Monday’s rise. Reason for all hype and glee?
Believe It Or Not, Russia
Who turned on the Hype-o-lator? Turns out it was a story in the Russia news source RIA Novosti. If you read Cyrillic, here’s the link. If not, a machine translation goes like this:
“MOSCOW, August 11 – RIA Novosti. President Vladimir Putin announced the registration in Russia of the first vaccine against coronavirus.
“As far as I know, a vaccine against a new coronavirus infection has been registered this morning, for the first time in the world,” he said at a meeting with members of the government. He asked the head of the Ministry of Health Mikhail Murashko to inform about this in more detail.
“Although I know that it works quite effectively, it forms a stable immunity and, I repeat, has passed all the necessary checks,” Putin said.
Hardly worthy of hype: Still hasn’t done a large trial yet.
But hey! Don’t hold the hype for science. Why, there’s a whole stock market to shove skyward and remember, this month (August) is often when the markets put in (putin, get it?) their annual highs.
Do we think this is hype? Oh, uh….DUH!
Even VunderVlad says it won’t be out in quantity until next year.
“The head of the Ministry of Health, Mikhail Murashko, said that the vaccine will be produced at two sites: at the Gamaleya Center and at the Binnopharm company. According to him, the vaccination will be primarily offered to doctors and teachers.”
Did you notice that Putin, nor his Vaccinator in Chief, talks about passing the formula to the West? Nope.
BUT, this is a fine chance to see a mini-media-hysteria storm.
Lingo-Lango (or Sputnik My Ass)
What’s more laughable in the WMH (Western Media Hype) is how major media are seizing on the phrase “Sputnik 5” as the vaccine’s name. Forensic search time, anyone?
- Entrepreneur referred to Sputnik V at about 6:32AM (Central time)
- Yahoo beat them into search engines by 2-minutes
- NDTV Sputnik’ed 11 minutes before that…
- But wait! Six minutes earlier, it was on IndiaTV.
- And three minutes before that on OneIndia.
But the best part of all in this? We knew to be watching for the Sputnik festival when way back 13-DAYS AGO, RT (Russia Today) was proclaiming “‘A Sputnik moment’: Russia hopes to be first with Covid-19 vaccine, top official says approval expected by August 10.”
To review now, class: Putin’s daughter had a temperature – which dropped after the vaccine was administered. But, she’s in that group (of young people) who have the highest what? Recovery rate! Moreover, Russia hasn’t tabled any trials data – because it hasn’t been tested.
So WTF is this?
OH – It’s the HYPE-O-LATOR!
What is Hype Hiding in the Real News?
I mean besides the remnants of the old Occupy movement trying to gin-up a “Seige of the White House” next month?
We have been telling you that the Online Uprising was “getting legs” for a long time. But even open-eyed US became concerned when we read the group’s “Tactical Briefing #1.” Yet-another lefterly media distraction which will work to keep Slo Joe and his (whoever she is) from having to make sense and offer solutions. My, how convenient.
Insurrections Are Rising
Craziness is a State? Oregon, then? Riot declared in Portland for second night in row Sunday night. And prior to that? Portland protest takeaways Day 74: Black activist among 16 arrested, another riot declaration Sunday. Und, zo?
Maybe – like CV-19 – it’s all just one of those things that’s “going around” in the memery of modern whatever.
Two more on the bonfire: 8 Arrested In Phoenix At Demonstration Commemorating Death Of Michael Brown By Ferguson, MO Police and in the Middle East? Furious Lebanese count their losses from blast, plan demonstration.
I think (*have to do more research) that a demonstration based on an explosion… Why that could be a first, wouldn’t it? (Hand me the ViseGrips, please? And the hookah while Ure at it.)
Another stack of cynicism meds quaffed and we move on…
Business Optimism Drops
“Sputnik” ass-side (what a joke) and gunfire near the White House and manifestos galore, what else is being buried by the Hype-o-lator?
“Washington, D.C. (August 11, 2020) – NFIB’s Small Business Optimism Index fell 1.8 points to 98.8 in July, near the survey’s historical average. Overall, 4 of the 10 Index components improved, 5 declined, and 1 was unchanged. The NFIB Uncertainty Index increased 7 points to 88. Reports of expected better business conditions in the next six months declined 14 points to a net 25%. Owners continue to temper their expectations of future economic conditions as the COVID-19 public health crisis is expected to continue.
“This summer has been challenging for many small business owners who are working hard to keep their doors open and remain in business,” said NFIB’s Chief Economist Bill Dunkelberg. “Small business represents nearly half of the GDP and this month we saw a dip in optimism. There is still plenty of work to be done to get businesses back to pre-crisis numbers.”
Well, gee, gosh, look surprised. Need more?
OK, Gold’s Collapsing
Buddy of mine who’s a commodity trader make an interesting remark the other day: “Here lately, Bitcoin and stocks tend to follow gold, seems like,” he told me. Gold was down more than $50 bucks earlier today.
Rising market to fall to a Turn-around Tuesday?
BTC’s, $11,876 Monday were down to $11,740 earlier today...so let’s see how this plays out. Be an interesting idea to watch for a while. Yet, it would all make sense in an “aggregate markets” perspective, since everything is interconnected when you follow the dots long enough.
PPI – Goods Rising @ 10% Annual Rate
Say, here’s another one for the Hype-o-lator to talk over:
“The Producer Price Index for final demand increased 0.6 percent in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed a 0.2-percent decline in June and a 0.4-percent advance in May. (See table A.) The July increase is the largest rise since a 0.7-
percent advance in October 2018. On an unadjusted basis, the final demand index moved down 0.4 percent for the 12 months ended in July.
In July, the advance in the final demand index was led by a 0.5-percent rise in prices for final demand services. The index for final demand goods also moved higher, increasing 0.8 percent.
Prices for final demand less foods, energy, and trade services advanced 0.3 percent in July, the same as in June. For the 12 months ended in July, the index for final demand less foods, energy, and trade services edged up 0.1 percent, following three straight 12-month declines.”
We can hardly wait to see the uptick in CPI inflation we’re expecting tomorrow.
The Oily Mess
The Saudi’s turning off oil to the U.S. this weekend has resulted in some interesting global footwork. For example, Iran exporting over twice as much oil as US estimated – report.
So as Oil edges higher on hopes for U.S. stimulus, demand recovery, a deeper reality may be found in the Seeking Alpha report that “Elevated Chinese Floating Storage Still Represent The Biggest Headwind For Oil Markets In The Near Term.”
In Your Briefs
Fortune has to be kidding: “Banks stand to make billions from the pandemic. How can that filter down to everyday Americans?…” (Waving my hands wildly…) “I know, I know…IT WON’T!!!”
In a semi-symmetrical world, by the way, the Fortune story Salesforce launches Work.com for schools would be balanced by Buyingforce launches School.com for work… But, guess the universe isn’t quite symmetrical, after all. Who needs CERN, anyway?
Its weather, not climate as Severe storm tears through parts of Midwest.
We’re been hearing that the next urban uprising is likely in the Queen Anne Hill area of Seattle. Does this have anything to do with Seattle’s police chief stepping down, sources say? Not retiring to Capitol Hill?
Also ringing out: California’s top public health official resigns.
All of the news flow today totally explains why Cannabis vape products remain popular one year after health crisis.
Going off-planet for a while never goes out of style. Can we leave, yet?
Write when you rich,