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.
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.
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….