I swear to God, people can’t read.
Democrats can’t read the freaking transcript. Financial reporters can read the lack of a China trade deal, and now – as stupid goes viral – we see the Europeans can’t read British consensus. Where is Evelynn Wood when the country needs her?
I will grant you that the partial trade deal does help farmers. No doubt. But, that only gets back what we were looking at before the trade warfare turned things down, really. And for talk of China spending $40-$50 billion on farm goods? Hype, as we see it – and part of a typical Chinese negotiation. They talk a big game oftentimes promising to buy twice the expected amount. Then, once they get the $50-billion price, they will want that same unit cost on $25-billion. They know how to be deal-markers, too, you see. ( Am I the only one who has ever negotiated sales deals in Asia and been a reporter? Singapore’s the same way….sheesh.).
Meantime, before Wall Street gets to the moon, might we recommend the reality check in the Minneapolis Fed’s FedGazette article “Flooding takes its toll on district farmers: “Prevented planting” insurance claims climb to 2011 levels as storms—and trade war effects—cause corn and soybean production to plummet“?
Reality, people…stay with it…
Remedial Thursday, Con’t.
Antoher typical headline (this one from CNBC) goes like this: “UK and EU strike new Brexit deal after last-ditch talks.” The whole point, though, is that it’s a “northing-burger” because the real deal is that “…there are serious doubts that the agreement will be approved by U.K. lawmakers back in Westminster..”
Same kind of crap we just saw the markets arb’ed up with on China Trade talks. Plenty of hype but in the end, not really much changes. The British are out…Or, are they? Sure, 52% of Brits voted out to the immigrant-overrun EU in 2016. But, the global-corporatists have been dragging this out as long as possible in order to subvert the prompt responsiveness of government to the will of the people.
Sure sounds familiar, doesn’t it?
Moving the markets up is the better than expected earnings from Morgan Stanley. Pardon us if we don’t pop the bubbly, though. The bankster class is harvesting fat profits from the Fed’s not-to-stealth QE;ing.
Again, with a recession at hand, people who buy stocks AFTER the good news are even dumber than me. And that’s going a fair piece.
Meantime, the balance of the witch-hunt mob still hasn’t heard from the second-hank whistleblower and as things continue to devolve into a bad high school popularity contest, Gallup’s latest poll shows:
- 25% approve of Congress; up from 18% last month; Trump’s approval at 39%
- 52% of Americans now support Trump’s impeachment and removal
- Impeachment support reflects growth in support among independents, Dems
HOWEVER: Jump over to the Gallup disclosures about weighting the poll. What you will find is 53.38 percent weighting to democrats when in reality, the number of republicans surveyed which in reality was 52%. What’s more, 87$ of republicans still approve of Trump while only 34% of dems do.
Reminds me of a mayor contest I covered years back. Interviewed a pollster and asked him how polling really worked. “What do you want to poll to show?” he asked. Point taken.
When I see overweighting of the non-white population, with its only 22% Trump approval, I sit back and “consider the raw data” myself, thanks. Never have liked weighted n surveys… I’m sure there’s some reason not to give real weighting to dems, I just can’t tell you why..except it looks “bashish” to us..
The Invasion Continues
Am I telling you democrat have lied about the figures? No hints here…except that as the anti-Trump soft coup continues, we see the radical left is setting up the Second American Revolution by having cities in addition to states breaking with enforcement of federal laws.
Hell of it is, divide and conquer seems to be working…
The Housing Data
Is just out from Census: Down from 12-year highs.
Building Permits Privately?owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,387,000.
This is 2.7 percent (±1.3 percent) below the revised August rate of 1,425,000, but is 7.7 percent (±2.4 percent) above the September 2018 rate of 1,288,000. Single?family authorizations in September were at a rate of 882,000; this is 0.8 percent (±0.8 percent)* above the revised August figure of 875,000. Authorizations of units in buildings with five units or more were at a rate of 470,000 in September. Housing Starts Privately?owned housing starts in September were at a seasonally adjusted annual rate of 1,256,000. This is 9.4 percent (±9.4 percent)* below the revised August estimate of 1,386,000, but is 1.6 percent (±11.6 percent)* above the September 2018 rate of 1,236,000.
Single?family housing starts in September were at a rate of 918,000; this is 0.3 percent (±9.3 percent)* above the revised August figure of 915,000. The September rate for units in buildings with five units or more was 327,000.
Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,139,000. This is 9.7 percent (±9.2 percent) below the revised August estimate of 1,262,000 and is 1.0 percent (±9.9 percent)* below the September 2018 rate of 1,150,000.
We don’t expect much change from markets. Free money and soaring bank stocks…why, what could go wrong? BTCs are up to almost $8,100 for the perishable profits peeps.
“I’ve Been Watching You” Emails
Massive sextortion attack running wild, security firm says. Yeah…and here’s why bitco9ins are popular – it’s how the crooks want to be paid. Is this a clue?
Ring Around the Planets
NASA says Saturn’s rings are disappearing as they’re pulled in by gravity. We’ll skip the wrings around Uranus story…
Leading Edge of Pension Disasters?
Boston pension votes to fire money manager Fisher, withdrawals surge toward $1 billion. Keep an eye on this one.
Around the Ranch
Off to crawl under the kitchen sink today. Time to put in a new faucet.
So, shorter than usual remarks…consider yourself blessed.
Write when you get rich,