Still UP – Just not as much as the S&P Case-Shiller Housing Data has cooled a bit:
“NEW YORK, OCTOBER 30, 2018 – S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for August 2018 shows that home prices continued their rise across the country over the last 12 months.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.8% annual gain in August, down from 6.0% in the previous month. The 10-City Composite annual increase came in at 5.1%, down from 5.5% in the previous month. The 20-City Composite posted a 5.5% year-over-year gain, down from 5.9% in the previous month.
Las Vegas, San Francisco and Seattle reported the highest year-over-year gains among the 20 cities. In August, Las Vegas led the way with a 13.9% year-over-year price increase, followed by San Francisco with a 10.6% increase and Seattle with a 9.6% increase. Four of the 20 cities reported greater price increases in the year ending August 2018 versus the year ending July 2018.
Summing it up:
“Following reports that home sales are flat to down, price gains are beginning to moderate,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “Comparing prices to their levels a year earlier, 14 of the 20 cities, the National Index plus the 10-city and 20-city Composite Indices all show slower price growth. The seasonally adjusted monthly data show that 10 cities experienced declining prices. Other housing data tell a similar story: prices and sales of new single family homes are weakening, housing starts are mixed and residential fixed investment is down in the last three quarters. Rising prices may be pricing some potential home buyers out of the market, especially when combined with mortgage rates approaching 5% for 30-year fixed rate loans.
“There are no signs that the current weakness will become a repeat of the crisis, however. In 2006, when home prices peaked and then tumbled, mortgage default rates bottomed out and started a three year surge. Today, the mortgage default rates reported by the S&P/Experian Consumer Credit Default Indices are stable. Without a collapse in housing finance like the one seen 12 years ago, a crash in home prices is unlikely.”
The market is somewhat disappointed – up only 35 on the Dow and down a bit on the tech side….
Crooked News, Selling Open Borders
As we wait for the manic markets to open (+76 an hour to the open), we notice President Trump is being pretty clear in his latest tweets on the caravan enroute our southern border. Says the Twitter-in-Chief…
“Many Gang Members and some very bad people are mixed into the Caravan heading to our Southern Border. Please go back, you will not be admitted into the United States unless you go through the legal process. This is an invasion of our Country and our Military is waiting for you!”
Meantime, it has become clear to us that the left-leaning press has figured out that democrats have seriously over-played their hand again – just as they did in the Kavanaugh smear.
Before we get into the details, let’s look at how the media are “telling people what they want them to hear” – not the actual news.
A few sources will get you the gist of it:
- “Fox News’ Shepard Smith debunks Trump’s migrant caravan rhetoric: ‘There is no invasion’”
- Next, witness the NY Times coverage in “How Trump-Fed Conspiracies About Migrant Caravan Intersect With Deadly Hatred.”
Yet, when we read less left-leaning, democrat-partisan apologist views, what we read on non-US third party sites is entirely different that this last minute “spin the for the middle.”
Take the Canada Free Press view: ” Invasion of the USS is NOT a Human Right.”
Even Smith’s own Fox News admits in a different story that it all an “Migrant caravan appears to be moving northward faster, as crowds take advantage of free rides.” He ought to watch his own channel, maybe?
What most people, save UrbanSurvival and Peoplenomics subscribers, don’t understand is that the Caravan and indeed the whole election is a difficult revenue maximization exercise. If the NY Times (or Faux) don’t keep up the leftist-spin, they will lose eyeballs of the Trump-haters which is mainly an under 45, socially-addicted demographic.
I don’t usually call out The Associated Press for feeding into the decline of quality news reporting, but the latest The Associated Press Stylebook 2018: and Briefing on Media Law (Associated Press Stylebook and Briefing on Media Law) makes it pretty clear that terms like “illegal alien” is not suggested.
And this is where the AP, in my view, became partisan. Because, dear reader, “illegal alien” is a legal term that has very specific meanings. Like “8 U.S. Code § 1365 – Reimbursement of States for costs of incarcerating illegal aliens and certain Cuban nationals,” for example.
Yet, the dis-information and misinformation about this is all over the web. Take, for example, a piece from Politifact that claims the term “illegal alien” doesn’t appear in federal statues.
As you can see in our cite above, it most certainly does. So how could the Politifact story get it wrong? It’s simple, actually. If you look at the section they cited (Section 1364) it’s not used per se. On the other hand, if you just look at the title of “8 U.S. Code § 1365″ it’s there bigger than life.
So, here”s the question: Was the claim merely incorrect, fact-shopping, or data you can trust? Personally, the latter is off my list, but you can see the point, I hope:
In fairness, Media Bias Fact Check rates Politifact among least-biased sources out there. Yet this one looks wrong to us. So, even without bias, errors and omissions – leading to incorrect conclusions – do occur.
Which is how – if you’re sitting in the Kremlin, trying to weaken America – you will so strongly value control of the language-space because it’s the key to making all the other attacks on your object of conquest work. Words are bombs that go off between the ears. Cheap, non-radioactive…its the gentlemen’s war.
And, importantly, it’s the one most-easily wrapped up in a disguise of righteous indignation and spews from the barricades…for those who lack deeper thinking processes.
Is it an invasion? Are we “occupied?” A Yale-MIT study of immigration (and modeling it) out in September offers this:
“Our conservative estimate is 16.7 million for 2016, nearly fifty percent higher than the most prominent current estimate of 11.3 million, which is based on survey data and thus different sources and methods. The mean estimate based on our simulation analysis is 22.1 million, essentially double the current widely accepted estimate. Our model predicts a similar trajectory of growth in the number of undocumented immigrants over the years of our analysis, but at a higher level. While our analysis delivers different results, we note that it is based on many assumptions. The most critical of these concern border apprehension rates and voluntary emigration rates of undocumented immigrants in the U.S. These rates are uncertain, especially in the 1990’s and early 2000’s, which is when—both based on our modeling and the very different survey data approach—the number of undocumented immigrants increases most significantly. Our results, while based on a number of assumptions and uncertainties, could help frame debates about policies whose consequences depend on the number of undocumented immigrants in the United States.”
If you haven’t reached for the calculator yet, that means 6.8 percent of people in America right now (and able to vote in San Francisco in local elections for God knows what reason) are illegal aliens.
And that if, you’re too dumb to get it, IS an invasion in our view. The OED being so old, doesn’t assign statistical probs to definitions. Yet as AI comes along, they will have to, we think, because language use is highly probabilistic.
Just so we’re clear: I embrace legal immigration, but not the coyote-run, black-tar smuggling along the dirt weed routes. If America is to persist as the greatest country on earth, we need to continue the even and universal application of laws. Something we’re failing miserably at for the moment.
Bye-Bye Anchor Babies
With all this as background, it should come as no surprise that president Trump is set to sign measures that would end birth-right citizenship for offspring of non-citizens (illegals) and those in the US without authorization.
Look for the open/non-existent border supporters to howl about it. Just in time to remind people before the election about the importance of evenly-applied law.
Attacking American Productivity?
Great novel plot in this: Left wing coup takes over country with a mindlessly addictive video game tied to social. People can’t put it down, it’s so much fun. And, as a result, the country falls.
What? Not fiction? Coming soon to a device near you?
Stocks Getting It Wrong
Yes, I know, the market had a 900 point swing Monday. But the headline driving some of this (Stocks stumble as trade war nerves send yuan to 10-year low) shows how markets can get things dead wrong. We have to apply some common-sense economics. Follow me here:
If the Chinese Yuan drops to a 10-year low, what does that mean… I mean really?
Well, for one, it will take fewer US dollars to buy Chinese goods. Cheaper phones, cheaper electronics and more… And THAT will reduce the Balance of Trade needs…and that is good for America and holds down inflationary impacts of the runaway Fed hikes.
Just saying…weak Yuans are (weak wan is if you’re with the GEO – grammar enforcement office) not all the bad news the financial press may claim.
Apple expected to unveil iPads with facial recognition… which frankly seems like a waste of disk space compared to fingerprint pads…but that’s just me. Reinforces the idea that I won’t buy an Apple, though, unless I am assured my mug-shot for ID isn’t sold or given to the FedGov for the massive national personal database on each of us… There is one…and where are the libs on this?
Monetizing Trump Hate
Facts support our claim that Trump-hating is an industry these days…
- Colbert speaks out against ‘sickening’ hate after Pittsburgh shooting, slams Trump’s response.
- Pharrell Williams threatens to sue Trump over use of ‘Happy’.
Although the NY Times biz section notes Trump’s Attacks on the News Media Are Working.
Not fast enough, though.
And Bad News for Cats
A new science breakthrough has found a way to use metabolism to drop 1/3rd of excess fat in obese mice in just 18-days.
Human trials are coming – put BP3 on your radar if you’re in medicine.
If you’re Zeus the Cat, don’t get depressed. Losing a few pounds won’t hurt anyone…
Peoplenomics with the market view and such tomorrow – some come on back and bring 6.3-million of your closest friends….