Data, huh? Mean like the weekly unemployment claims and the GDP report, or the corporate profits report?
Well, let’s take ’em one at a time, starting with U.I. filings:
So does this mean things are really that good?
No. Take up the question of people whose bennies have run out as a side discussion.
Then there’s the GDP which is always stated in self-referential idiot statistics (percentages) which are totally useless unless you back out inflation. Which, as of this week’s Fed confessional (which they publish a month after the fact because it’s too embarrassing to report real-time) is running 12.51% at M2 and 16.12% at M1…so if someone tells you “Something has grown 6%” what they’re really saying is it has shrunk about 5 percent with the difference being the jerked-around money supply.
“Real gross domestic product (GDP) increased at an annual rate of 6.6 percent in the second quarter of 2021. The increase was revised up 0.1 percentage point from the “advance” estimate released in July. In the second quarter, government assistance payments in the form of loans to businesses and grants to state and local governments increased, while social benefits to households, such as the direct economic impact payments, declined. In the first quarter of 2021, real GDP increased 6.3 percent.
Eventually, they cop to:
Current dollar GDP increased 13.2 percent at an annual rate, or $693.2 billion, in the second quarter to a level of $22.73 trillion.
Which with M1 up 16% and M2 up 12.51% sounds close. So where’s the growth except in the ink and paper industry?
The way we figure out how we’re really doing is to look not only at 2020 GDP as year ago, but also consider 2019 because ANYTHING will be an improvement over shut-in GDP, right?
The whole point of working (U.I. filings aside) and slaving away to boost GDP – with such things as the CRT and Climate industries to make up revenue and idiotic spending levels of nonsense out of D.C. – is to make more money!
What does the Corporate Profits Report reveal? (Come on, with this much Fed juicing, relending, and money printing you can’t really expect anything other than a Stalinist “always ahead, comrades! Never better! “ can you?)
“Real gross domestic income (GDI) increased 1.6 percent in the second quarter, compared with an increase of 6.3 percent (revised) in the first quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 4.0 percent in the second quarter, compared with an increase of 6.3 percent in the first quarter
NOT corrected for monetary inflation! Get it ? All easily remembered with our UrbanSurvival motto: Everything’s a business model!
After all this, they ran the Dow up 44 but the S&P was flat. BTC was down to $47,150, so who the hell knows.
U.S. Department of Happy-Talk
Who’s missing in the Reality Gap today?
Her: Kamala Harris Pledges U.S. Help for Afghan Women and Children – The New York Times. Expect to see a lot more Kamala hype in coming months as questions swirl around Old Joe. We’ll be amused to see what Kam’s “help” is?
Trump Lawyers: Total over-reach as Federal judge in Michigan orders pro-Trump lawyers disciplined over lawsuit seeking to overturn 2020 election. You can read the full decision here. Just because the Left can use the courts for policy, don’t think the Right can. Didn’t you learn anything from the NLG?
Ring-a-Ding Dinged: FCC proposes $5 million robocall fine against right-wing operatives.
But our Top Out of Touch goes to the U.S. State Department for setting up failure: Americans warned to get away from Kabul airport over ‘imminent’ ISIS threat. No shit? NY Post outs ’em for this:
“The US Embassy in Kabul sent out an alert early Thursday, Afghanistan time, telling US citizens not to travel to the airport “because of security threats outside the gates.”
Amazing they didn’t send it out in, oh, July?
And this is no way to go: Indian man used epoxy adhesive instead of condom, died: cops – New York Daily News. Leave it to Gotham papers to “stick” to the best of the worst headlines imaginable.
Saved from Shredding
With no one in buildings, when will property taxes go down, then? Schools Across the U.S. Are Already Switching Back to Remote Learning Amid COVID-19 Surge.
Say Lifehacker: About your story How to Start an Indoor Vegetable Garden, there is another way. Turn on a television or get on social media. Instant veggies, fruits and nuts, too…
Something on Amazon to have a look at – and maybe pre-order, though it won’t be cheap: New book due out in early November from Robert F. Kennedy, Jr.
“The Real Anthony Fauci: Bill Gates, Big Pharma, and the Global War on Democracy and Public Health (Children’s Health Defense)” is on our Thanksgiving reading list…
The National Weather Service is keeping an eye on the Caribbean because of a likely tropical storm expected to see development today:
“…locally heavy rainfall and flooding will be possible over portions of Jamaica and the Cayman Islands today and tonight, and will likely spread across Cuba and the Yucatan Peninsula on Friday. In addition, this system could bring dangerous impacts from storm surge, wind, and heavy rainfall to portions of the coasts of Louisiana, Texas, and the Mexican state of Tamaulipas late this weekend and early next week. However, uncertainty remains large since the system has yet to form.”
The Gulf Coast- West – has had an easy go of things so far this year. Question is whether this one will develop and snap the streak.
Around the Ranch
We’re not too sure about when summer will end, exactly. Maybe because of the Caribbean weather, our forecast has been all over the map the past few days. Everything from flood watch to heat warnings.
The one thing people who live in cities really miss, having lived in both camps, is the annual variability of weather. By this time of year here in Texas, being outside when it’s 94-97 (and dry) isn’t a big deal. At the start of the summer, though…wow.
CNN continues leading the Climate bash with stories like “Climate change be damned. More Americans are moving to high-risk areas…” So, Climate News Network? We know how Clinton News Network worked out…
So as long as we’re pawing through my reading list, here are two additional books that may provide useful contexting of current affairs. One is Bjorn Lomborg’s False Alarm: How Climate Change Panic Costs Us Trillions, Hurts the Poor, and Fails to Fix the Planet.
The other – which is also by Lomborg – is actually up first on my reading list because it’s much more data-focused and less so on the crazy, hysterical monetizations (which really are scams) versus the hard-headed science. Which is why The Skeptical Environmentalist: Measuring the Real State of the World is in line first.
Lomborg – formerly active in Greenpeace – isn’t the kind of author you would expect me to be reading, perhaps. But he’s likely in a more “kindred headspace” than the alarmists (who are fund-raising and riding corporate jets around).
What we’ve always held, when comes to the climate, weather, and such really isn’t that hard to figure:
- Climate has been warming since the last Ice Age.
- Climate change was not an issue prior to the Internet.
- Misinformation is a communicable disease, because of it.
- Yet basic Native American tenets (“walking lightly on the Earth”) make great sense.
- Which is why we probably make (with our solar gear) more than half our electricity, and so forth.
Solving the issues facing the environmental is a “near and dear” topic to me. Which is why now that Packing to Die is finished (waiting for Amazon to let me update the manuscript so the page numbers show in the print version!) isn’t critical: it is. Because we all die.
But there’s the matter of living responsibly – and thoughtfully.
One of the conundrums, for example, demonstrating how the primacy of financial over common sense works, is in 5- MPH bumpers and crash crumple zones. Great stuff if you don’t want people to live more responsibly, no question. But if “walking lighter” was really the goal, the overall weight of autos would be halved (reducing emissions by half in the process).
Thing is, the modern Nanny State doesn’t want solutions. It wants monetizations. Which is why cars are still too heavy, costly, and polluting.
I don’t know how many generations it will take before some of these simple answers (R50 insulation and ultra-lightweight vehicles) become “common sense.” But since we’re in our 70s, might not arrive while we’re still around.
That’s why the a Peoplenomics report recently focused on the next book which will be along: “The 100-Year Toaster” subtitled “Obsolescence: Our Global Addiction.”
Driving a shell-on-a-go-cart that has five horsepower and can travel 100+ miles on a gallon of gas seems totally logical – unless you have insurance company stock. Which is why certain mornings I wake up and size up shorting the market.
Individual people are not stupid. But, agglomerated into a politically contrived pure edifice of finance? Well, yeah. Then we get a “cytokine storm of stupidity” spread contagiously by dueling monetization factions on the web which sure seems like something to avoid investing in.
So bad are things now, we’ve implemented five-hour daily blackouts of servers here. So we can live a “cleaner and clearer-thinking” life. Think of it as the digital version of periodic fasting.
Write when you get rich – and boycott social media. They’re a monetization, not a solution.