We considered the headline “Hong Kong Woes Slow as Schmoe’s Doze…” but figured it would be too much for this hour. Instead: Hang Seng Sunk is closer to it.
If you flip over to the ^HSI chart on Yahoo (here) and click onto the 1-month view, you’ll see why we’re a little nervous: The 29,261 on the Hang Seng a month ago and a low (overnight intra-session) of 24,748 is (there’s a technical term for it….) Big-Ass drop!.
This would be like the S&P 500 dropping from recent highs (the 4,422 Monday) down to the 3,740 range. That’d get some attention.
Laughably, we can almost hear the Fed’s serial re-borrowing and emergency money moves from out here in the woods.
Reality is, China sort of owns us right now. We are down in the chips, can’t make our own goods at home because both sell-out (highest bidder) political parties encouraged the rape and pillage of America’s core manufacturing assets under the crooked guise of “Free Trade..”
China’s foreign minister, this week, continued to underscore how China’s not pleased with the U.S. whatsoever:
“On 26 July, during his talks with U.S. Deputy Secretary of State Wendy Sherman, Vice Foreign Minister Xie Feng said the Chinese believe that one must not do to others what one does not like to be done to himself. Desire to seek hegemony or territorial expansion is simply not in the Chinese DNA. And China has never coerced any country. China responds to foreign interference with legitimate and lawful countermeasures. The aim is to defend the legitimate rights and interests of the country and uphold international equity and justice. China has never gone to others’ doorsteps to provoke trouble. Neither has China ever stretched its arm into the households of others, still less has China ever occupied any inch of other countries’ territory. It is the United States, not anybody else, who is the inventor, and patent and intellectual property owner of coercive diplomacy. It is the United States who has engaged in broad unilateral sanctions, long-arm jurisdiction and interference in other countries’ internal affairs. The U.S. notion of “engaging other countries from a position of strength” is just another version of the big bullying the small and “might is right”. This is pure coercive diplomacy.”
Oh yeah? So what is trying to steal Taiwan – no slated for just after the upcoming Olympics in China next February? Might not make it that far, by the sound of things. Us or them – to be determined. I’ll bulletin any US invasion of Mexico or Canada, though…
Free Luncher’s Nightmare
What is going on is? Macro school: The Biden administration is cared shitless about a recession. Because Nasty Nancy and the Schemer all know that if CV-Delta and Pension collapses roll into a predominant public center-stage role in Life, there goes the House in 2022.
The problem? In their runaway zeal to demonize Trump, they over-promised. What was supposed to be a “hand up” to working people put too much money into the system – which caused massive delays in shipping, and toss in incompetence in the supply lines of the USA and next thing you know shortages are everywhere.
- Covid-19 triggered a shortage economy. It could be here a while. – cleveland.com
- Who will take care of the disabled and elderly? California faces ‘unprecedented’ labor shortage (msn.com)
- Gamers’ wild strategies to find graphics cards in a chip shortage — Quartz (qz.com)
- Elon Musk Ditches Earnings Calls After Tesla Posts Record Profits – TheStreet
Getting a sense of how this is rolling?
Getting to where the U.S. is cloning the European rescue plan. If you remember that? All the Muslims from Africa and the Middle East who “invaded” Europe to bail out the economy of what would have been a failing EU by now.
Our version of immigration and synthetic growth (pulled off before a sleeping audience) looks like Democrats eye path to citizenship for 8 million in economic plan -Bloomberg.
See how the Dem’s buried the Cuba uprising? Well, except for Cuba’s Paris embassy hit with gas bomb; blames U.S. for inciting violence – UPI.com. Because Cubans are less inclined to vote for which party? Having seen the ugly face of communist tyranny first-hand? The Demo-Marxists are having to roll it out slowly here. But not without trying faster, right squad leaders?
Post Office Screw Ups
We are (again) not at all pleased with the number of screwups by the local post office.
We have never had issues until this year. But here’s a typical package tracking nightmare we’re waiting to resolve: (Read this bottom to top…)
Because of a mistake, by someone here in Palestine, TX, the package which got as near as 12-miles from its destination Monday is sitting today 135-miles away in Dallas. Worse? Because of screw ups like this, the odds of broken goods goes up and with it, Amazon’s premise of “two-day delivery for Prime” has turned into burnt toast, too.
The American Economy is relatively robust. Until the Clown Posse got involved (Washington in general, the WH and the CONgrease). It’s past time to give Le Post Master le boot.
We can’t be too sure how long the alt. realities of finance can keep colliding. We have two currency systems – and Elon’s talking about taking BTC for Tesla’s again – and we have a bunch of MMT (modern monetary trauma) which has failed absolutely everywhere it has been tried.
Look: If the democrats are intent on turning this once-Great country into another Venezuela (which is where this is heading) we’re good with paying for Nancy’s one-way coach ticket to Caracas.
Bitcoin this morning has dropped to $37,888 after making a run at $40,000 and failing. Which has the feel of a Wave 2 waiting for Wave 3 down to show up. But while CrimeCoins wait for the next round of cyber attacks to drive up price (as ransomware payments are in cryptos) we also see how the U.S. National Debt keeps working its way up toward the $30-trillion level. Most recent reading? $28,474,940,683,516.70.
The Free Lunch tab is coming – and you can feel everyone with skin in the game starting to squirm – no one wants the check..
“Not I,” said Ure. We’ll keep living dramatically below our lifestyle till the cities have finished burning from the Demo-Marxist incendiaries.
Meantime, we’re twiddling body parts waiting for the Case Shiller Housing data because in a front-running report New Home Sales Crash In June To Lowest Since April 2020. Peachy. Just peachy. Check it out:
May not show up in the C.S. report in a few minutes – there’s a different lag-time between reports. Still…
Useful Data Points
Fed Meeting starts today. Rate (non-) decision tomorrow afternoon. I hear happy-talk and B S for is on for lunch tomorrow.
Then there’s Durable Goods just out:
Want to know why it’s not real? Simple: It’s measured in Dollars, not units. With the Fed re-borrowing at 30% and more annualized rates, unit volumes can implode but Latter Day Stalinist Statistics show continuous improvement for the Workers. Right, comrades?
Didn’t say this was going to be exciting, did I?
See if any of these grab you…
Coping skill note in Lifehacker: How to Deal With a Work Bully. Real answer is to start your own business and fire everyone except yourself.
Serving PC instead of? Blain: Be Very Suspicious Of Banks Declaring Diversity Goals. It’s OK to shorten this headline to “Be very suspicious of banks.” (Period, full stop.)
News Revenues Down? We wonder when CNN trots out “Analysis: The most unhinged Trump rant about the 2020 election.” Both their viewers might disagree…
And Mr. Drifty is back: CDC May Roll Back Mask Guidance For Vaccinated Americans, Fauci Says.
And, the Media Won’t call it a Dustbowl yet, but did you see out in mega-drought territory: At least eight killed in 20-car pileup in Utah sandstorm | US news | The Guardian?
Off to wait for Housing data – so drop by after the top of the hour for part deux.
Elaine’s Daily Mystery
“See what I mean?”
Elaine was in the kitchen at breakfast pointing at a milk carton.
“Why don’t we see the old-fashioned kind of cartons? Why waste plastic?” Her ire toward the plastic screw-on atop the cardboard container was evident.
“Doesn’t anyone think through the environmental side of things? Who are these idiots?”
Had to admit I didn’t know. Seems she’s right: I mean with all the environmental bullshit and Save the Planet plus whales, oceans, trees, eagles, frogs etc. (by sending us money) crap going on, why is it milk companies are transitioning to plastic-dependent tops for 1/2 gallon milk cartons?
Oh, sure, might be able to make the case they don’t spill if dropped…or something like that. Don’t be clumsy – save the enviroment? But seriously? She’s got a good point. From a food security standpoint? If someone opens one of the glued ends you can sure tell.
It’s a simple question – with harder answers. And a sad commentary on a nation addicted to progress – even if it doesn’t make sense on closer inspection.
Like smaller and smaller phones with higher and higher rez screens. Does insanity ever pass? Bring back payphones! No EMI exposure. We’ll keep the land lines, thanks. Kinda ends war-driving, too.
Help! We’re falling and we can’t think straight, anymore!
Write when you get rich,