We are always a bit suspicious of the market when we close down like we did Wednesday and then in the pre-open, the futures were pointing to a nearly 200-point rise before the CPI Report came out. Here’s what it looked like when released in the past few minutes:
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in
June on a seasonally adjusted basis after rising 0.2 percent in May, the U.S.
Bureau of Labor Statistics reported today. Over the last 12 months, the all items
index rose 2.9 percent before seasonal adjustment.
The indexes for shelter, gasoline, and food all rose to lead to the seasonally adjusted increase in the all items index. The food index increased 0.2 percent in June, with the indexes for food at home and food away from home both rising 0.2 percent. Despite a 0.5-percent increase in the gasoline index, the energy index declined 0.3 percent, with the indexes for electricity and natural gas both falling.
The index for all items less food and energy rose 0.2 percent in June. The shelter index rose 0.1 percent, and the indexes for medical care, used cars and trucks, new vehicles, and recreation all increased. The indexes for apparel, airline fares, and household furnishings and operations all declined in June.
The all items index rose 2.9 percent for the 12 months ending June; this was the largest 12-month increase since the period ending February 2012. The index for all items less food and energy rose 2.3 percent for the 12 months ending June. The food index increased 1.4 percent, and the energy index rose 12.0 percent, its largest
12-month increase since the period ending February 2017.
Drill-Down View:
Fuel oil up almost 31% – better be hoping for global warming this winter, huh?
We don’t see the Bond market doing much, though. The 10–year closed down at 2.842 Wednesday which seems to imply that the bond market isn’t terribly worried about real-world inflation. Were it, the rates would be rising…
Wrong-Way Rod, Redux
Once again, we can’t understand how it is that Rod Rosenstein is still in a powerful position in the US Justice Department. After what we’re thinking are some mighty-odd moves in the effort to bounce Trump, we read this morning in the NY Times how Rosenstein is now calling for extra (taxpayer-paid) US Attorneys to sort through and find fault with Brett Kavanaugh’s appointment to the Supreme Court.
Go read the Times piece “Rosenstein Asks Prosecutors to Help With Kavanaugh Papers in Unusual Request” and see if it doesn’t have, oh – you know – a bit of a ‘whiff’ to it. Reminds me of a feedlot.
Rosenstein has become to republicans what pit bulls are to cats. I don’t find myself trusting either.
The problem with the DoJ “hater squad” is that if they look long and hard enough into Russia they will find that yes sir, the Russians have been fielding Troll Farms since the one in the Urals opened in 2008. But in our gray literature source material in Wednesday’s report, the Russians are trolling (a lot) because they see the West as fomenting “color revolutions” in their sphere of influence. Trolling the West is sanctions payback, another other things.
All of which would be business as usual, except that with the injection of politics into the equation, prosecutors may not grasp the larger geopolitics of how (seriously paranoid) Russia is. The military intel on point says yeah – Russia’s running a low-level web war, but so are we. Just depends on who the ref’s are that are making the calls.
So, let’s see how wrong Mueller gets it…he’s too Americentric to see the global Webolution framework overarching all…which means the odds are huge and growing that the professional bureaucrat machinery in DC is totally out of touch. (Yeah, I know, look surprised…but it is long past time to house-clean.)
Meantime, the Webolution supporting media are doubling down with stories like Democrats’ clown show of outrage over Kavanaugh.
Wonder if that includes Rosenstein?
MSM Does NLP Now?
If you can’t cover facts then run with BS, I’ve always said.
OMG, it’s stupid on top of stupid in the MSM as Drudge was headlining Donald Trump in Europe as the “Chief of Irritation” and then linking to a USA Today story where John Kelly’s “body language” suggested discomfort with what the boss was saying at a contentious breakfast meeting.
What seems to be coming into focus for us is that the DrudgeReport may (like the bulk of the MSM) be about to flip-over into the pro-Webolutionary camp. They used to be more non-partisan…but watch from here…
If you’re not tracking, let me explain it (one ‘mo time!):
- There is a global war going on over the Internet. World War Web we call it.
- Two parties of concern inside the US are:
- The Constitutionally elected government
- The Webolutionary government.
- The Webolutionaries have their own political leadership including Schumer, Sander, Clinton, Cortez, Maxine, et al.
- The Webolutionaries have taken over traditional middle of the road Democrat ideals and are trying to subvert the Constitutional government.
- By pressing for direct elections – ending the Electoral College – which will turn the US to Digital Mob Rule.
- By promoting (with Russian troll help) memes that further divide America. (Russia does this to keep America off track and may competition easier for them – China does it, as well)
- The Webolutionaries have their own currency too.
- Their version of the Confederate Dollar is Bitcoin.
- The Webolutionaries hate:
- Marijuana laws.
- Border Fences
- Genuine performance based metrics
- The Webolutionaries promote:
- #meetoo and other social viruses
- Open borders
- Direct democracy (which fails everywhere)
- HR metrics based on subjective “specialness” without regard to whether shit gets done right.
- Races where “winners” are by acclaim, not order of finish.
The problem that we’d point out WRT Drudge is that Media is in the Battle for Eyeballs. Since Drudge makes its money off eyeballs, they will look at the numbers and go where the digital mob is going.
The Big Story of the Day, Then…
Is Twitter which is sooner or later going to have to clean house.
The ONLY big story today (other than the Inflation report) is in the NY Times under the headline “Battling Fake Accounts, Twitter to Slash Millions of Followers.”
As we explained in Peoplenomics Wednesday, Twitter is one of the key port-report-dissemination tools used by (among others) ISIS. There are lefty-Twitter bots that also take on supporters of the Constitutional government, too….slamming conservative radio talk show hosts (like Limbaugh for example).
But, now let’s get back to the core belief around here (“Everything is a Business Model”) and the ongoing Webolution has caused monstrous economic displacements and misevaluations.
That should explain 100% of this Motley Fool story for you: “Why Doesn’t Wall Street Like Twitter’s Push Against Fake Accounts?.” Or, as the L.A. Times picked up from the Washington Post syndicate: “Twitter’s stock slides after report of fake-account purge.”
If you find ANY of this surprising, you’re not keeping up with the class.
The problem, however, is that in the short-term, regardless of how quickly social squalor tries to clean up its act, there is so much momentum now behind the Webolution that formerly clear-thinking websites are “adjusting to the new reality” not understand that yes, dear reader, we are in an information war and the other side is winning.
Whether the tide begins to swing?
Obviously Trump-Hating is still in vogue and with stupid people finding ways to profit off hate and leading charges for the Webolutionaries, we don’t hold out much hope. See (if you’re not convinced) stories like:
Stormy Daniels Was Arrested at an Ohio Strip Club, Her Lawyer Says. No one would care, but it keeps the meme alive.
Comedian: It was a joke? No it wasn’t. And Sacha Baron Cohen enrages Sarah Palin with ‘evil’ humor.
And even the BBC is now cheering on the Webolution with How kites and balloons became militant weapons.
Webolution and Environment
The Webolutionaries do have some high ground they’ve held from the outset: Environmental issues. Pay attention, therefore to “Icelandic whalers kill blue whale, activists say, the first in 50 years/”
We give it a week, or less, and whaling too, will be turned into a Trump bashing point.
There you have it: Comandante’ Ure’s morning view of the ‘Operating Environment” of the Global Webolution.
If you haven’t read how Babel ended, stick around a few years. A replay is in progress for people who didn’t grok the first one.
On to breakfast with the Dow futures up a couple of hundred….
Wrong “asset” of the Webolutionaries..Bitcoin is not, nor can it ever be “Centralized”.
This very reason alone renders Bitcoin useless to the Webolutionaries.
The Cyrpto currencies like BitcoinCash, Ether,and Ripple are centralized and controlled, and therefore much more suitable and appropriate for the New Bolsheviks..ure Webolutuionaries.
George how come no one is talking about/reporting on Rod Rosenstiens’ wife, and her role in defending CIA, DEA, FBI illegal activities, including lawyer work with Clinton Foundation..? WTF, over?
It seems as though there is no longer any legit reporters left in all of US MSN. What a terrible set of circumstances we are forced to live with these dayz. No honest reporting ANYWHERE in MSN, and I am beginning to wonder if there ever has been any honesty in the press/MSN in the last 50-60 years. Seems like it has all been one big F$%&^! lie after another…
Rule of Law…Done,gone..
Virtue..long gone
Trust in Government-Done, in MSN/Press = NONE, ENEMY
I used to go to Drudge Report first thing in the morning for an array of irreverent stories. Sadly, in the past year the site became stagnant and then decidedly more mainstream in focus. Not worth clicking any longer.
My initial take on this was Matt Drudge had handed off editing duties to a lazy group of lackeys but the slant seems too focused for it to be inattention.
I’m very grateful that Commandante Ure has maintained (sharpened) his edge.
Getting harder and harder to find original content. I’m stocking my hardback library with the classics be Newspeak becomes the only content available.
Citizen Free Press is a suitable replacement for Drudge. I still read Drudge every morning, but realize it has gone over to the dark side a while ago. The Liberty Mill is another good one.
Nothing strange about the yo-yo movement of market,after all the market/Fed/Central Bank is the only game in town, the biggest scam in history,but yet the players still get sucked into the scam instant rich’s beckon on down the road…
It seems like to trade this market, you need to buy a 3x ETF between 3 & 4 pm at the close & sell on the next day open.
Agenda: Crash the US socially, morally, financially. then destroy Israel.
Then own the world.
George, I tune in for the economics, which I got today, well done, thank you, but then am once again confronted with utterly bonkers nonsense. All of a sudden the NYT is great and reputable, but Drudge is stupid? Gee, couldn’t be the content? And somehow this Deep State nonsense has morphed into Webolutionaries? With a bunch of ice cream eating stoners at its core? And all of a sudden we hear the ‘Gee, investigate anyone enough and you’ll find something’ defense? Do you hear yourself? Thought I was listening to John Gotti.
I know. It’s hard to sit back and let the criminal investigations (run by Republicans who actually believed all their team’s slogans about being tough on crime!) run their course with your guy acting so guilty. But, please, can’t we leave the obvious cheerleading alone, like for maybe just even one day? Best, Mike
In 1976, all three networks reported that 20000 of the 30000 students at UT Austin had protested at a campaign speech by President Ford. Exactly the opposite happened. I was there. 20000 students were wildly cheering him when a group of perhaps 100-200 protesters arrived at the back of the crowd. They were literally shouted down, to my amazement. That evening all 3 networks showed camera footage taken from behind the protesters and reported that the whole crowd was against Ford.
That was when i realized just how fake “news” was. And how coordinated. Now i realize that the protesters arrived late, with the camera crews, by design, so they could get the fake money shots. All three networks cooperated in the lie.
What is new these days is the internet allowing us to see how little truth we are being told. Humans typically worship authority, so rurning the ship will be messy and time consuming. But it is turning. The majority now knows we are being lued to.
You can’t figure out why Rosenstein(R) is where he is at the DOJ?
He worked with Ken Starr(R)on the Starr Chamber Commission going after Clinton. GWB appointed Rosenstein(R) to be a fed judge. Dems blocked it. Trump(R) appointed Rosenstein(R) as a US attorney. Sessions(R) tried to get him to resign but trump(R)stepped in. Every single republican senator voted in favor of Rosenstein(R).
But I’m sure somehow it’s the dems, obama, hillary and bill’s fault or maybe dirty cop mueller or maybe the deep state. [sarcasm].
Y’all needto grow up, face reality and deal with facts and empirical knowledge.
I agree with your Take on the biases of the media, but it goes both ways. Both sides cater to their base. Back in the mid 90’s, I lived in St. Louis and was a member of the Downtown Rotary Club…one of the oldest and on a weekly basis , the highest attended in the nation. There would always be a big sit down lunch and a speaker at every meeting at the Old Missouri Athletic Club.
One such meeting featured Rush Limbaugh…a Missourian himself and at the time, I was a big fan of his. He was telling a story about his days in the communications/promotions department of the KC Royals. They were charged with creating story lines to bring more fans to the games. Rush’s job one day was to find angles about the opposing team that would bring intrigue and cause more people to buy a ticket. They had an upcoming series with the last place Blue Jays and they had no real stars and that was usually death at the turnstiles. As he was interviewing Blue Jay players, one player mentioned his dad was a union plumber. That gave Rush an idea. He asked the player if other players had dads in the trades. He said there about 6 or 7 players whose dads were electricians, Iron Workers and Masons. Rush asked if the players supported the unions. The player replied “I guess. It put dinner on the table”
That was good enough for Rush and the next morning in the KC Star, the headline of the Sports pages read. “Union Supporting Jays come to Town.” Subhead read…”Both teams urge Fans to come and honor our unions”. They had well above average crowds that weekend, despite the Jays not being a draw. That story got a big laugh at the luncheon…But…
Rush’s point was that as a broadcaster, they do the very same thing. They look for angles to try to boost listenership. He admitted that his job as a nationally syndicated radio host was no different than his job in the promotions department at the Royals. His job was to find angles that would rouse listeners, boost ratings and attract advertisers. I remember him saying that unlike a news anchor, he had more leeway and license to speculate and that the beauty of a radio commentator was that he wasn’t bound by the same rules of broadcast journalism. It Didn’t make him right or wrong, but it sure made him interesting not listen to.m
That lunch opened my eyes a bit. I still listened to Rush for over 10 years after that luncheon, but I increasingly rolled my eyes at the more outrageous comments, thinking that he is just trying to find an angle. Today…I see the same in Hannity and Mark Levin on the right and Rachel Maddow, Al Sharpton, Stephanie Miller and More on the left.
There is bias on both sides. All are slaves to the advertising dollar. The way I approach news is that I read both sides and make my decision. More often than not, the answer always lies right smack dab in the middle.
Cable companies will no longer have to respond to informal complaints, you’ll have to pay $225 to make a formal complaint, Consumers lose under Trump/Republican policy:
https://arstechnica.com/tech-policy/2018/07/ajit-pais-fcc-wants-to-stop-reviewing-your-complaints-unless-you-pay-225/
Money talks (aka Republican donors), and Trump pardons:
Arsonists get a private plane ride home (from jail)
http://www.latimes.com/nation/la-na-ranchers-lucas-20180711-story.html
https://www.theguardian.com/technology/2016/aug/18/twitter-suspends-accounts-terrorism-links-isis
Twitter also bans alt right racist abuse/Alt Right Milo profits from ‘Hate’
https://www.independent.co.uk/news/people/milo-yiannopoulos-book-deal-200000-right-wing-editor-twitter-ban-simon-schuster-a7501016.html
https://www.washingtonpost.com/news/the-intersect/wp/2016/07/21/what-it-takes-to-get-banned-from-twitter/?utm_term=.197bb8ee20d9
Dandeman; look at the clip of the reporter, Dan Rather, on the net where he gets first look at the Zapruder film, and then he tells the ‘american audience’ what happened. He is a nasty stinking liar. It would be another 12 years before the nation saw the Zapruder film. So, yeah, the lying msm is evil, intentional, corrupt, and executes each american’s brain for a living each and every single day. Non-stop propaganda turns the brain to mush; seek the truth elsewhere. Read about Eustace Mullins, listen to his lectures, when you realize that our country funded the Bolshevicks to take out Russia in WW1, killing 36 million Christians, you really will catch your hair on fire. And we gave the communists millions of dollars a year for a very looooong time. He lets all the cats out of the bags. The truth is out there, but you gotta get good and dirty looking for it. The kind of dirt that a shower and soap won’t clean; just a conscience.
Democrats are like British, buy off friendly, set against others. Republicans expect tort law. Tort makes money, sqermy works overseas politics. Both and
One major annoyance with Drudge is the incredible amount of coverage given to the socialist edge(Clinton, the 28 year old whacko, and other fringy dems). Publicity is always good for name recognition, and there’s no excuse for pushing it if he’s really right of center. Much better to show the bright side of the Trumps, and successes in moving back toward the center.
Our Dear Mr. Ure,
One does certainly wonder who is running the good ship SS Fortress America. An item of some governance concern became apparent after a FB friend shared an anti-Trump Twitter rant by the social media Krassenstein twins.
A cursory search about the web led me to realize that this pair of fine upstanding gentlemen were held in high regard by overseers of web ponzi schemes to the extent of receiving search warrant attention from Homeland Security Investigations. Following you will find attached a web link outlining the logic put forward by Homeland Security to seize one of the Krassensteins’ Florida residences and demand a forfeiture of something on the order of 80% of its value. Where things get a little bit odd in my mind is that the brothers have not been, and do not be appear in imminent threat of being tried for a crime in court. Homeland Security Investigations appears to have cause to believe that laws have been broken. Perhaps ideally the twins would not have planned upon sharing the allegedly ill-gotten gains with Big Brother. Yet maybe it’s a viable avenue that enables them to, perish the thought, replicate more laundering schemes upon unsuspecting crypto-marks. The mind shudders to think that government is so debased as to build a pipeline to its coffers of this revenue of ill repute without stamping out the cause.
Compelled I am again to extend from these northern lattitudes sincere condolences at this most egregious state of affairs in your republic. If it salves the spirit any, I do extend a heartfelt exclamation from the Commonwealth: “God save the Queen!”
https://scribd.com/document/379699705/Complaint#