As always, my friend Chris Tyreman up in Saskatchewan came through with the PERFECT heading for our Ultra-Make.com 3D printing website. Take a look. As you’ll see, the “feel” (graphically) of Urban, Peoplenomics, and Ultra-Make is now somewhat in alignment. Revealing how “deeply conflicted” we get around here sometimes: There are many ways to create, have fun, express, and learn…it’s what makes getting out of bed every morning so special. And every day too short…
Kudo #2: If you haven’t seen the documentary on Black politics titled “Uncle Tom” – absolutely worth your time to sit through on Amazon video. Worth every penny o9f $13 bucks. Reveals a hell of a lot about the real underbelly of American hate politics. In a sec, we’ll delve into more election madness, but first…
Driven Mad by Stimulus Battling
Trying to short-term trade this market has been a real (pardon me) turd sandwich. Because even though the reality of our economic quandary is obvious, the political “in Ure endo” is awful at best.
Regrettably, we need a turd sandwich discussion. Because this is not Ure everyday snack. This is the Dagwood of all turd sandwiches.
Cartoonist Chic Young came up with the idea of a man-manly-Man’s mega-sandwich for his cartoon character in the Marvel Comics Dagwood.
Great classic, collectible comics they were – and are. His wife Blondie was ever-ready with a quip – always seemed well quaffed – and was (down at some subliminal level) why I married a Blondie-bunny hybrid. (No telling how things like this work in old nutjobs.)
Speaking of comics, we were sad to learn a week back that Los Angeles Comic Con 2020 Event Canceled, 2021 Dates Set, but such are pandemics.
Back to point, every so often in the Dagwood comics you’ll see a sandwich that seems equal portions of preposterous and delish. All at the same time. Collectible stuff – incredibly valuable franchise of Marvel.
Now with all this talk about “appetite” we’ll now weld-in the…
It’s here we spy the “Mercurial Trump” as “Donald Trump leaves contentious ’60 Minutes’ interview with Lesley Stahl, goes on Twitter attack.” Wasn’t there a book “ How to Win Friends and Influence People?” Too late for remedial reading?
The T-Sandwich, is not Trump’s alone, though it is – kinda. You see no small number of Republican’s figure if Trump’s going to lose, why hand Biden an easy economic helping hand? You can see it in Second stimulus check updates: COVID-19 relief talks inch forward, but Mitch McConnell is resistant and lame-duck prospects are dim.
McConnell and the R’s aren’t stupid (on the other hand, if you watch “Uncle Tom” the doc, maybe they “R” – right?). They can at least read the biz section where Commodities headed for bull market in 2021 on inflation fears, stimulus: Goldman Sachs.
You’re seeing it, right? The McConnell people want things to blow-up on the dems and Nancy herself is beating the drum for Free Money! Trump Wanting Stimulus Checks in People’s Pockets Is Democrats’ Leverage in Negotiations, Pelosi Says.
These data points form the gist of what the WaPo says in “Why Mitch McConnell is trying to kill a big stimulus.” As we’ve said many times, “Politics is all about kicking the other guy when he’s down and getting people to thank you for it.”
No, it’s not pretty. But it is politics.
Beige Book Deep
If you’re trying to make sense out of what’s going on, you can shit-can the mainstream media. Instead, read what the Federal Reserve’s Beige Book came out with Wednesday. Far more useful guidance:
“Consumer spending growth remained positive, but some Districts reported a leveling off of retail sales and a slight uptick in tourism activity. Demand for autos remained steady, but low inventories have constrained sales to varying degrees. Reports on agriculture conditions were mixed, as some Districts are experiencing drought conditions. Districts characterized the outlooks of contacts as generally optimistic or positive, but with a considerable degree of uncertainty. Restaurateurs in many Districts expressed concern that cooler weather would slow sales, as they have relied on outdoor dining. Banking contacts in many Districts expressed concern that delinquency rates may rise in coming months, citing various reasons; however, delinquency rates have remained stable.
On wages and working and and ahead:
Employment increased in almost all Districts, though growth remained slow. Employment gains were reported most consistently for manufacturing firms, although firms continued to report new furloughs and layoffs. Most Districts continued reporting tight labor markets, attributing it to workers’ health and childcare concerns, with many firms consequently offering increased schedule flexibility; a few Districts, however, noted some firms were finding it easier to hire workers. Wages increased slightly in most Districts, often tied to firms’ difficulty finding workers, especially for low-wage or high-demand jobs. Some firms reported returning wages (and raises) to normal levels, but many reported more stable wages.
Prices rose modestly across Districts since the previous report. Input costs generally increased faster than consumer prices; however, some sectors—notably construction, manufacturing, retail, and wholesale—passed along the higher costs to consumers. Overall, consumer prices across Districts rose modestly, with the notable exceptions of food, automobiles, and appliances, which increased significantly. Retail gasoline prices declined. Input costs increased at varying degrees, mostly led by increases in materials costs, particularly steel and lumber. Multiple Districts reported continued additional costs for firms due to COVID-19, including personal protective equipment, sanitation equipment, testing equipment, and technology needed for remote work. Changes in row crop prices were mixed, while Districts reported declines in prices for animal proteins.
The whole report is here. But most people don’t take the time to read such a measured view of the country. Instead they get kicked around by headlines. It explains also whay “average” is so small a number. They’re led around by?
Oh, flash-in-the-pan financial transients like…
The Weekly Jobs Data
Yeah, we gotta mention these – came in better than expected:
“In the week ending October 17, the advance figure for seasonally adjusted initial claims was 787,000, a decrease of 55,000 from the previous week’s revised level. The previous week’s level was revised down by 56,000 from 898,000 to 842,000. The 4-week moving average was 811,250, a decrease of 21,500 from the previous week’s revised average. The previous week’s average was revised down by 33,500 from 866,250 to 832,750.
The advance seasonally adjusted insured unemployment rate was 5.7 percent for the week ending October 10, a decrease of 0.7 percentage point from the previous week’s revised rate. The previous week’s rate was revised down by 0.4 from 6.8 to 6.4 percent. The advance number for seasonally adjusted insured unemployment during the week ending October 10 was 8,373,000, a decrease of 1,024,000 from the previous week’s revised level.
Before you go leveraging large, though, try to remember tomorrow morning the Retail Sales figures will come out. Although, judging by the delays in getting products we’ve ordered online to show up, we reckon FedEx and UPS could be setting up for record quarters, disease or not.
After the good jobs data, one other reasons for the techs to rally is seen as Tesla shares jump 5% after reporting fifth consecutive quarter of profits.
Take this seriously: CDC shortens window of exposure for contact with Covid-19 patients.
In the past, the advice was avoid contacts longer than 15-minutes. Which left the way open to serial 14-minute contacts. Now, with the change, it’s 15-minutes TOTAL.
Germany sees 10,000 daily cases for first time as France infections top 1m, so it’s not just global smoke-blowing. When we make the semi-weekly grocery run? We will do what we have every week since February: No contact online shopping and Cloroxing the Be-Gee-Zeus out of anything coming in the house.
People think we’re nuts, of course. But we can stack up 222,000 plus American deaths as evidence that “First do no stupid” pays off.
Keep an eye on the droughts. Not only has a New wildfire in Colorado prompts mandatory evacuations, but look at this:
The reason to (again making a pitch here, so listen up) get serious about home food growing efforts, is that if America doesn’t catch a break with a lot of rain soon, we COULD be setting up for a food-crisis in 2021. We will keep[ closer tabs on the Peoplenomics side of the house.
But, imagine what the Depression would be like if the Fed last time around had pushed out the crash until May of 1930. The Dust Bowl still shows up, America still has its Hungry Years and misery becomes wider spread than now. My, what a fine and pleasing outlook, huh?
Breaking Up is Hard To Do
No, not the song. The Google situation as Legal experts say the government’s ‘Microsoft’ strategy in its antitrust case against Google is smart, but a forced breakup may still be a long shot.
Jumping the Leviathan
We’ve been mumbling for years about wars to come to be fought over the Leviathan gas and oil area off coastal Syria and Lebanon, Cyprus and Greece. We are therefore NOT surprised to see the story Turkey slams joint declaration by Cyprus, Greece and Egypt. Everyone’s getting their hackles up.
Meantime, east of there: Nagorno-Karabakh fighting raises threat of escalation.
With a Biden presidency becoming likely, is it time to buy defense stocks? Easy money – easy economic stimulus, too. If you don’t mind body counts. But with a pandemic? Oh yeah…easy to bury the sausage on those, too.
Say, are we having fun yet?
The Kitco silver chart (bottom of the page here) has come back to live. Hat tip to Elvin at GeneratePress for the <div> footer style. Works peach.
Off for a blow job. “Perv!!!” No, I mean with leaves. Rain due in tonight, so (drat!) not going to let them get wet and make more work. Just can leaf it alone….
Write when you get rich,