Wheat is our eye-opener today.

First comes word from Time magazine that The Vatican Says Gluten-Free Wafers Can’t Be Used for Communion.  Perhaps Catholicism doesn’t need celiac sprue sufferers or maybe they just missed the book Wheat Belly: Lose the Wheat, Lose the Weight, and Find Your Path Back to Health.  Wheat isn’t Rome’s only PR wreck: Vatican Cardinal returns to Australia to face sexual assault charges.

All of which bolster my view that churches do fine when comes to spiritual practice, but maybe the practice of medicine should be left to others and we seem to recall that celibacy was to avoid claims by offspring against property of the Church in the Middle Ages.  We, meantime, will be sorting the wheat from the chaff of an economic sort as we continue our own version of the late middle ages.

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On the topic of wheat, we notice that markets are still trying to waffle. Likely because there are claims that Donald Trump Jr.’s account of Russian lawyer talks may have drifted.  Near as we can reckon, this is another huge “So what?”  (The Russian lawyer’s pic is over on Heavy, if’n you were curious.)

Laughably, the (your adjectives go here) MSM is not admitting that there was nothing to meetings between Trump administration Russian interests (not the government).  With the NYT reporting Don Jr. was lured into the meeting with the Russian lawyer on promises of dirt on Hillary, ABC runs with “The Note: Fire peers out from Trump-Russia smoke.”

Hold d’ phone, bubba.  Say what?  Fire?

You mean after innuendoing Trump people were somehow party to Russian MEDDLING, that meeting with a lawyer claiming to have dirt on Hillary is a fire?  Well, FMTT.  If that ain’t twisted up, I don’t know what is.

This seems to me dysfunctional media at its finest.

Why aren’t the NY Times, the New Yorker, or other media which seem to be retaining readers via the continual Trump-bashing, demanding the server from the Hillary campaign?

Gibberthink….wherein the media will take yet-another non-event and blow smoke up our collective asses to pimp ad sales.

Donald Jr. has just saved the financial bacon two or three news operations for another few months.

What about the Hillary folks ties with Russians?  And the Foundation money…where’d all the investigative urninalism go on that stuff?

Other than giving the Collapsing News Networks something to fill up between ad minutes, hardly seems anything worth bothering with.  It is, admittedly, another opportunity to the anti-Trump media to drag another (pretend-he’s-a-perp) with the last name Trump through another pile of dirt.  Whether the dirt is real (or imagined) doesn’t seem to much matter anymore.

Ahead?

Well-respected (by someone) news operations like Reuters are touting how the Futures slightly up on optimism over solid jobs data.  Maybe, but we’ll hold our horses a bit.

Maybe they’re optimistic, but we aren’t.  Notice the lack of goods producing jobs versus services?

While the NASDAQ is, indeed, up a bit, reality holds that it’s a bounce from last week’s thrashing.

Unwarranted Optimism Dept.

We laughed heartily at the CNN headline: Congress returns for sprint to salvage health care bill.

Ever see a clown posse sprint?  Me either.

A more realistic view? Republicans debate Plan B if ObamaCare repeal fails.

Shock Jock Talk

Was the shooter of a congressman driven to act by a past-right radio talk show host?  The Washington Post seems to be marketing that idea.

Slippery Kids Dept.

I’m not sure what’s going on in Universe, but these two stories must mean something astrologically:

Boy who slipped while playing in water is swept into pipe and Child almost falls through train toilet floor.  Hmmm…

Depletion Marches On

I don’t know if you have followed our discussions (mixed in to the comment’s section and one Coping section column) last week.  But here we go:  Aramco CEO sees oil supply shortage as investments and discoveries drop.

The important thing here?  If you know someone (like Oilman2) you’ll understand that there is a gap between when oil is discovered and when it flows into a refinery.

The way we think this will work out is this:  We head up to the Market All Time Highs next month.  Then we crash this fall.

What happens then?  Well, the Treasuries are starting to nibble at the underside of their long-term decline line.  So picture a world where the Fed has to QE again and rates are trying to head back up at exactly the time the oil glut is ending.

So let me see:  The rates go up, oil and energy prices zoom skyward and there is no money for new infrastructure projects like those that saved us in the Great Depression…oh, this is gonna be soooo much fun, ain’t it?

I’m not the only one saying it now.  Last week, Bank of America’s Merrill Lynch unit was predicting a Humpty-Dumpty event this fall.

As you can see from the data and forecasts, there may be a shortage of King’s horses and King’s men to repair it…which is how we get to global war in 2024…but that’s another discussion for another day.

Climate Notes

It’s summer and we had 1.2 inches of rain in an hour Sunday.

Out West, meanwhile: California fires spread quickly, evacuation orders lifted in other parts of West.

Tornadoes in Florida (Forecasters confirm 2 tornadoes near Orange-Osceola line) and in Minnesota (Two tornadoes touch down in Blue Earth County; no injuries), too.

Climate Change?  No.  We just call it the Weather.

Coping: The Urban Studio (1)
Coping: With Retirement? Hardly!