(Thackerville, OK) With American markets feeling like we were “on the ropes” last week, Elaine and I took of Saturday morning for the Winstar casino/resort an hour north of Dallas. Our primary mission was work-related. My long-time friend Robin Landry and I met (dueling laptops, right?) to figure out if this is a small fourth wave down or part of a bigger picture.
The answer is not simple, but we will explain how we’re both right in our Peoplenomics.com report Wednesday.
As for this morning’s report, a bit shorter and to the point, but some worthwhile observations….
The first is that if casino action indicates the mood of the American middle class,. then the republicans shouldn’t be so damn worried. People on the casino floor Saturday were laying down big bets like they didn’t have a care in the world.
In fact, it was the “freest spending” action I’ve seen yet. Seriously!
Toss in the fact that futures were up modestly, and the democrat dream of the Trump Bump ending in time for election day seems a bit far-fetched.
Not that nuts with bombs and mass shooters don’t give people reason to think things through – they do, of course. But, for all the antifa hate and anarchy press, in most places – like here along the Texas-Oklahoma border – politics isn’t at all evident. The few MAGA hats I noticed were worn by people quietly going about their business.
This led me to conclude something the democrats should have figured out by now: It’s the Economy, Stupid. As long as the market is just doing a “normal” pullback, people are ignoring the longer-term issues and partying like it’s 1999.
This doesn’t keep the open-border party from whining, though. Again, we’re reading that the world’s sorest loser – Hillary Clinton – is making noises like she wants to lose again. No decision until after mid-terms,. though. Yet, somehow, she’s not capable of learning from past mistakes. In my view, she’s got a ton of ’em to answer for and under oath would be dandy.
It was also just a bit too pat for our tastes, to read that “Michael Moore Reveals Video of Bomb Suspect Amid Angry Crowd at Trump Rally .” Too pat for us…
Still, the report that a Student helps raise $540K for synagogue shooting victims renews our hope that not ALL young people in America have been brainwashed by the social machines.
A Pending Economics Lesson
There is a new president in Brazil today as “Far-right Jair Bolsonaro wins Brazil presidential race.”
There are any number of media/spin comments that could be fairly made. I will confine myself to just noting that “far-right” in today’s world of media spin and the ongoing press toward global socialism, defines anything as “far-right” if it doesn’t include pandering to unlimited genders, open borders and so forth. If you’re right of Soros, you’re a conservative or worse.
Bolsonaro, however, may be in a position to deliver a long-needed economics lesson to the idiots of the far-left media. To be sure, things like mining in the Amazon will be demonized for their risks. As will liberalizing gun ownership in a country where lawless has been a watchword.
But compared to Venezuela – the current poster-child for socialist ideologies failing, we’d be inclined to bet on Brazil as the next major economic miracle.
There’s a reason Brazil is one of the BRICS countries. China and Russia have long-seen the practicality of Brazil becoming a long-term global leader Just don’t ask the left-leaning media for anything near fair coverage – because if you haven’t noticed, that’s something the sell-outs haven’t figured out how to deliver.
The Week Ahead…
We will be back on home turf for tomorrow’s release of the Housing Report from Case-Shiller/S&P, Corelogic and whoever…two-part report for us.
Personal Income and Consumer Spending are just our from the Bureau of Economic Analysis…
Personal income increased $35.7 billion (0.2 percent) in September according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $29.1 billion (0.2 percent) and personal consumption expenditures (PCE) increased $53.0 billion (0.4 percent).
Real DPI increased 0.1 percent in September and Real PCE increased 0.3 percent. The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.2 percent.
Doesn’t look like the world is ending, does it?
Then Wednesday ADP job numbers. That normally means Challenger job cuts the day after and then Friday the Federal numbers which we look to see hold, or maybe rise a tenth just based on seasonality. They ought to look good through year-end though with Christmas hiring to come.
Trade deficit will come out Friday, as well. It may be that the strong dollar will bite a bit here. These are all “noisy” markers…
Future News Ideas
Keep an eye on those caravans in Mexico. The Mainstream is soft-selling this now – perhaps a few democrat pollsters have figured out that an invasion by 5,000 young military-aged men, some with drug ties, is not how to sell “open borders” to the low IQ voters, after all. Geniuses, aren’t they?
US automakers don’t seem to understand that job[jacking and offshoring are NOT something that goes unnoticed by American car buyers. As To make more Ram trucks, Fiat Chrysler reconsiders Mexico.
The invasion takes a break as Migrant Caravan Rests as a Second Group Tries to Enter Mexico.
Speaking oi borders, US to press patrols in disputed sea, China warns ‘meddlers’. Guess when you’re the Big Dog, all the pups want to challenge. Alpha male disease…
The slow death of social media – rolls on with Fox now asking Is Snapchat dead?. And yes, there is life-after as Germany’s ProSieben buys U.S. online dating site eharmony.
Which has been changing since the last Ice Age continues to provide news content: A day after hitting Guam Philippines on Alert for Typhoon Yutu Days After It Wreaked Havoc on a U.S. Territory.
Again: It Wasn’t Us
So we’re off to breakfast…well pleased with the Johnny Rivers concert here Sunday afternoon. Skip (Allen?) the piano player with the group was incredible. And River’s can still hit the notes…by the time it finished, about 1,500 people were on their feet cheering for more. Us, too.
We probably won’t take another break fro9m “the ranch” until January-February. We continue to hope that the people of America will come to their senses and a nice rally into the new year will come.
but, as always, we’re driven by the data…and more of it tomorro9w morning. Same time, same website.
Run by moron the ‘morrow…