Well, here we go again: The daily attacks on Donald Trump, the miserable coverage by pseudo-journos, and again, none of it will make you any richer, but it sure feeds the ad machines that keeps network news co-opted since everything has a price.
Easy to manipulate if you know how to do it. Just get some kind of social network linkage going, get a bunch of connections on social and then cross post using readily available tools.
What happens then is an item you’re promoting will be noticed as “trending” and with a bit more work, it will be picked up by the consultant-driven mainstream media. Following so far?
Or, someone at the ad agency has a martin with someone from a big network and says “spin it this way or we kill all buys for 13-weeks….” Money is power….
OK, let’s do a Google News Search for the term GDP. Last month, the month before, and going back over a year, to the best of my recollection there has never been this kind of overhype foreplay before.
From the NY Times: “Why Friday’s G.D.P. Number May Be a Size Too Big.” A Pre-story? See,. this would be how to “set up” a track of money…following?
CNBC was cheering it on, too in “Kudlow says Friday’s GDP number is going to be ‘big’.” This morning, things are a bit cooler in “US stocks set for gains at the open amid earnings, GDP data.”
But, near as we can figure it, the real goings-on for the market writers may have been the 900-pound gorilla this week – the Facebook mess. Our view is social – like Hula Hoops and CB radio – has a fad burn-out problem. As my consigliere pointed out Thursday “What ever happened to Myspace and do they even matter anymore?” Yes, social can bite even those who think they can out-Fox it.
You see, GDP goes up, GDP goes down. GDP gets Revised and GDP can be put just about anywhere with enough money manipulating.
Speaking of which! The Fed is continuing to hold M1 under 2% growth in the latest H.6 Money Stocks report. What it MAY be telling us is that after hold M-1 negative in the March, April, May window, the annualized rate has been upped to 1.8 percent. in the 3-month window closing July 16.
This tells us the Fed is making sure the market will zoom up – and maybe to new all-time highs in August. Bearish through we are on things in general, we are eyeing the long side for an entry next week, although as always, this is NEVER TRADING ADVICE.
OK…just struck me as a hell of a lot of hot air…so now comes the REAL data…picture first:
Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent (revised).The Bureau emphasized that the second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency
The “second” estimate for the second quarter, based on more complete data, will be released on August 29, 2018.
The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.
This is what matters:
“The acceleration in real GDP growth in the second quarter reflected accelerations in PCE and in exports,
a smaller decrease in residential fixed investment, and accelerations in federal government spending
and in state and local spending. These movements were partly offset by a downturn in private inventory
investment and a deceleration in nonresidential fixed investment. Imports decelerated..”
With its release, the Dow futures pancaked – going flat, but we will sit back and watch the early part of next week for more clues as to what’s ahead. And yes, we read #qanon76…which brings us to today’s…
Bash du Jour
By the way, if you haven’t taken the time, our “back-up consigliere” sent along a marvelous report by Congressman Louie Gohmert. It’s a bit long, but it gives you a very clear flavor(from the republican side) of the kind of person Mueller is based on his actions in the past. Not at all complimentary, but click there to read it. If you haven’t before it’s quite revealing.
We would also direct you to a counter-balancing democrat-generated report should one exist. We just can’t seem to locate on. It’s seems democrats are always long on talk and short on footnotes, facts, and details.
The reason for all this? We’re guessing that in August or September, Mueller’s Fishing & Hooker Expedition will release what the media will assure us is a “bombshell report” that will be used by the digital uprising plotters to pivot previously clear-thinking plebes over to the Barricade Bozo’s point of view.
We expect there is likely a secret “shadow investigation” going on somewhere and one of these days we will take up to news that a non DoJ branch of government has just arrested 35 coup d tat leaders and I’ll let your mind wander through the shopping list of which names ought to be on it. OK, 50 names then…plenty of spinsters in the dueling conspiracies these days.
I mean sell uranium, get “pre-acquitted” and “lose evidence” – gosh, all coincidence, right? Surely the president – or military – would do…something? It looks like a slow-motion coup attempt…
You do remember – if you scanned the Exopolitics site over the Fourth their story “QAnon links US Attorney with thousands of sealed indictments decimating the Deep State”? 40-thousand sealed indictments? Yee gads! Who can round up that many? Or, will they be actioned on a priority basis as the sweeps begin? Or…is it all hokum of the web? Tantalizing line of inquiry, huh?
It could be – hokum – because we’ve never had the tools to massively propagate mental illness before. Gee, ain’t the web great (and weaponized)? Did anyone bother doing an EPA environmental impact statement on it before it went viral? No, of course not!
No, it is NOT coincidence that we link to the Gohmert piece at this time as it also showed up in a #qanon76 post along with this Twitter post on the Rod Rosenstein impeachment crap:
” What was the point of filing impeachment art if Ryan was going to reject? Known beforehand? Optics. Think logically. Could Sessions publicly challenge [RR] w/o creating a dilemma?>”
Here’s what to think through: We MAY be in the midst of an attempted digital coup (that’s hardly a stretch) and as we laid out over the Fourth of July, it’s a left-wing Webolution using social media and already claiming its own currencies (the cryptos). There’s just no telling how this all unwinds, but the safest place absent an insider’s seat, is to remain nonpartisan and cautious and auspicious in all dealings.
Oh, and within the law, too…Then again, who know what that line is anymore, right? Ah, the joys of a digital uprising…Marie ClickdaNet would be pleased. Digital guillotines and no lines! Digital Mob Rule! Click right up!
Oh, will Twitter follow FB down the tank? See “Twitter to prioritize fixing platform over user growth, shares plunge.” Also read “Instagram not an instant fix for ailing Facebook.” And “Twitter beats estimates on revenue but monthly usage falls.”
This Reuters piece may be useful: “Exclusive: China eyes infrastructure boost to cushion growth as trade war escalates – sources.” No, the Trade War problem hasn’t gone away yet despite the happy-talk this week with EU… And you saw where China ki8lled the Qualcom deal which leads to mentioning “Qualcomm CEO in the ring alone after U.S.-China spat kills deals.”
More politics? sure: 3 Other Women Were Paid Hush Money for Relationships With Donald Trump, Michael Avenatti Says. Tisk, Tisk…but if you were a billionaire and hot damsels…well, I don’t condone the behavior.
Hot Air Dept.
Meantime, we laugh as the Washington Post connects summer with Climate Change.
Like the old Yellow Pages positioning statement ain’t it? “Never Stops Selling…”
Sells papers, though…and I guess that’s the point.
have a great weekend… Remember there’s now UrbanSurvival content on Saturday and Sunday…