We see that the market ready to pop to the upside this morning. Not surprising, given that the Fed is still keeping “money easy” with low rates – for now. And also since the next “Grand Distraction” for America has now being launched by the collapsing news networks.
That’s the transgender discussion and what happens in .mil land. Almost gleefully, the Washington Post headlines “Growing GOP backlash to transgender troop ban underscores Trump’s political miscalculation.” In background, we sense the libsnlefts will go [further] nuts upon hearing “DOJ: Civil Rights Act does not protect sexual orientation.”
Still, to their (occasional) credit, CNN reveals what the Big Picture is as they report “Democrats say they’re ready for a culture war.” Indeed, as Pogo, would have said “We have met the enemy and it is us…” The headline shots are being fired.
Dope on Dope for Dopes Dept.
Meantime, we note the cognitive train wrecks in national mental acuity screaming from headlines like these:
From Reuters: Exclusive: ‘High Times’ ready to roll with public offering – sources. (The headline makes more sense that ‘High Times’ to pass the IPO duchy…)
The L.A. Times notices “California has too much pot, and growers won’t be able to export the surplus…”
And them Fools on the Hill? Useless as always a “Lawmakers halt bill to let VA doctors prescribe pot for pain.”
All this left Knowledge at the Wharton School of Business to observe how we’re now America the Divided: Why the Great Melting Pot Is Having a Meltdown.
It’s not a coincidence as we see it: More like part of as plan. As in culture war.
You see, without such made-up “crimes” (as self-medication) we would have an economic collapse tomorrow.
Think of it! Coyotes running human trafficking rings would have to rely on black tar sales and not dirt weed.
The police, DEA, and all those inter-agency anti-drug outfits would be left with half the workload. Prisons would partially empty, a good number of criminal attorneys would experience sizeable income as case workload drops, and the Cartels would have to focus on speeding up their takeover of legit business with the drug money IGG (ill-gotten gains) that get mixed offshore and then come back here to fund takeovers and acquisitions.
Yes sir, we just gotta keep the potroversy steaming ahead. Besides, the booze lobby pays well in Washington and the country – despite childish opinion to the contrary – still goes to the highest bidder.
We should also point out that the Booze lobby SHOULD worry, too. Denver Post is headlining how “Beer sales are down…especially among the millennials …”
[We would launch into our discussion of how the public is not stupid when comes to the buzz-per-ounce efficiencies of anything liquid (except Windowpane) against lightweight doobies. But we would probably get the munchies and take a nap after the field testing…]
Ure doesn’t make up contexts…I just report ’em and that doesn’t sit with all kinds of True Believers, whether on Drugs of polly-ticks.
The Healthcare Mess
We have held that the president in exile role being played for a certain former president is not entirely implausible.
Especially when reading in the NY Times how “Former Obama Aides Lead Opposition to Health Care Repeal.”
Hang the Bastards
Speaking of the political intrigue, and the liars and crooks in Washington: It has been obvious out here in fly-over Country since the election that the eight-year hangover of Obama embeds and crooked repubnicians (RINOs) has been systematically leaking all kinds of secrets to keep “things stirred up.”
This morning White House comms director Anthony Scaramucci says he will contact FBI, Justice Dept. over leaked financial disclosure.
Little slow getting to the complaint stage in Leakerville, ain’t we boys?
Would Someone Call Rolling Stone?
I can’t believe how stupid this headline sounds if you’re, oh, through ninth grade, or so: “Rolling Stone cover asks why can’t Canada PM be US president.”
OK, skip the civics lesson.
From the Merger and Acquisition standpoint, Canadian GDP is around $1.5 trillion and their national debt is about $1.4 billion, so other than speaking French – and maybe taking the US Trilingual – the Rolling Stone cover seems to us more like a splashy (wet) dream to sell mags to their following.
Wait! I forgot about how the culture war agenda. Still me! ‘Scuse me. Lost my mind for a moment, there.
The Law in Pennsylvania
How come we’re reading how FBI indicts 2 Pa. Dem mayors in pay-to-play probe and we still don’t know the details on the Clinton Russia Uranium deal?
(We assume the FBI doesn’t indict, but the way things have run there, who knows anymore? We like to think grand juries indict, but we don’t write headlines for other media…)
Continental Subsidence Watch
Well, finally, the idea of a continent subsiding has shown up, although not in a meaningful way to most peeps.
When you look at the maps, though, you begin to wonder if maybe the story of Zealandia’s demise was preserved (and spread) in legends and might have spawned those ancient reports of Atlantis.
Or, is this the Lemuria continent?
The Wikipedia shorty on this is:
Lemuria /l??mju?ri?/ is the name of a hypothetical “lost land” variously located in the Indian and Pacific Oceans. The concept’s 19th-century origins are from attempts to account for discontinuities in biogeography; however, the concept of Lemuria has been rendered obsolete by modern theories of plate tectonics. Although sunken continents do exist – like Zealandia in the Pacific as well as Mauritia and the Kerguelen Plateau in the Indian Ocean – there is no known geological formation under the Indian or Pacific Oceans that corresponds to the hypothetical Lemuria.
Though Lemuria is no longer considered a valid scientific hypothesis, it has been adopted by writers involved in the occult, as well as by some Tamil writers in India. Accounts of Lemuria differ, but all share a common belief that a continent existed in ancient times and sank beneath the ocean as a result of a geological, often cataclysmic, change, such as pole shift.”
Our money would be on generational story-telling errors on location (location, location) would account for the “misplaced” Lemuria tales. But I don’t have a business model to make that battle worth fighting and I’m sure some Lemuria deniers do. Everything is, after all, a what?
Back to Markets and Data
The Dow was the big gainer in the market Wednesday and it looks to pop another hun this morning.
Big Jump in Durable Goods
Way more than expected:
New Orders New orders for manufactured durable goods in June increased $14.9 billion or 6.5 percent to $245.6 billion, the U.S. Census Bureau announced today. This increase, up following two consecutive monthly decreases, followed a 0.1 percent May decrease. Excluding transportation, new orders increased 0.2 percent. Excluding defense, new orders increased 6.7 percent. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $14.6 billion or 19.0 percent to $91.6 billion.
Shipments Shipments of manufactured durable goods in June, down three of the last four months, decreased $0.1 billion or virtually unchanged to $236.0 billion. This followed a 1.2 percent May increase. Transportation equipment, down five of the last six months, drove the decrease, $0.4 billion or 0.6 percent to $78.8 billion.
Unfilled Orders Unfilled orders for manufactured durable goods in June, up three of the last four months, increased $14.2 billion or 1.3 percent to $1,135.6 billion. This followed a 0.1 percent May decrease.
Also out are some advance economic indicators:
And on this report, the market will go soaring. NASDAQ is up 42 in the preopen while the Dow is holding back with a smaller upside pop due. But we should now see a series of progressively higher highs as we move toward Eclipse Day August 21, which may be when the market begins the Big Rollover. Or the 24th – Ures truly is not particular.
It all spends the same.