Have to admit it: Not a hell of a lot on the economic front worth getting worked up over.
Sure, the Fed has the Consumer Debt report this afternoon and we will see some oil/petroleum data from the Energy Information Administration. But of the two, I’ll take the Fed data as the “most exciting” which it never is.
About the only thing we will see from it is to what level consumers are sitting on their wallets and it’s about here that it gets interesting.
We are, you understand, living in an age of one-off economic events. As was explained in Peoplenomics Wednesday, the reason that Reaganomics “worked” was more to do with the cyclical economics at work behind the scene and less to do with theories of “trickle-down” which area really laughable just at the common sense level. And, to think that a massive tax cut will fix anything? No, that’s wouldn’t be sound either.
Still there is a way Trump could “thread the needle” on domestic finance which would at once screw the bankster class, dis-incentivize the Chinese from further militarizing, and oh yeah…pay down our National Debt which is close enough to $20-trillion we can call it that with impunity.
Damn shame he will not be able to have a run at it, though.
While we hear the continued stream of Assange: Clinton, Liberal Press Creating ‘Demon’ Climate, the fact of the matter is that Clinton continues to lead in the bidding war.
The Assange headlines, like so much else in the race, are non-events until something actually happens.
Some Besides Me Gets It
Who predicted this blow off bubble we’re in more than a year ago on national radio? (a bow).
So now here’s another guy seeing the same reality: BofA’s Moynihan: Money flowing to US equities because where else is it going to go.
Housing is too slow, commercial is losing to online work, bonds are bottoming, no big breakthroughs (PokemonGo doesn’t count), and gold and silver are stagnant. Hell, even BTCs are semi-stable in the $500-700 range ($630 this morning).
Stocks or boredom, seems to me. But a correction would be nice.
A Great Joke
There is a pretty good one going around this morning. It goes like this: Nancy Pelosi Urges Paul Ryan to Ban Republicans From Using Hacked Documents.
Were the shoe on the other foot, I expect the high priestess of guilt, political correctness, and situational ethics would find some justification to turn all guns and quips from leaks on the OTHER Party.
Think of this as the Illusory High Road approach.
Still, Clinton’s election has all but been assured now that various prognosticators and “seers” of the future have begun to widely and I think wrongly predict Hillary’s withdrawal from the race any day now and the return of Bernie as a stand-in. Pass de duchy, mon.
Makes good copy, though, I have to admit.
The one fly in the soup is that it ignores something we call Economic Reality.
He who has the money makes the rules, or in this case, she.
The MSM, as we have explained until purple in the face, is not going to turn on this fall’s largest revenue source for their as sundry publications. Why a media mogul would have to be plum-loco to do that. News flows where ad revenue goes,…got that?
Which is why the NY Times, CNN, et al continue to report pretty much whatever press release/talking points the dems take and why a more pertinent story (Who is that new Hillary handler – and why?) have been effectively buried.
You can find the answer (It was a Secret Service fellow?) over here in the British Press which seems to have coverage better than colonial media at times.
Notwithstanding the purveyors of doom (and it’s a great business model, don’t get me wrong…it just doesn’t have the reliability of financial analysis…) we see in the polls this morning that Hil is still up by a couple of points in the summary over here.
Whatever…don’t confuse her with facts: Hillary Clinton at Commander-in-Chief Forum: ‘We Did Not Lose a Single American’ in Libya.” Uhhh…some concussion, huh? The name Stevens ring a bell?
Meantime, “Amy Schumer Says She’ll “Move to Spain” If Trump Wins!.” Here, here! Don’t let the door hit your butt on the way out, kid. You might not like Catalonia, either. FreeSpeak there, too, you know…
Frack Me to Tears
With almost everything else in this morning’s news budget being senseless rewrite and rehash (but those MSM minutes and pages have to be filled), let’s move along to a REAL story.
Widespread (additional) Fracking for petroleum is quickly drifting into hot water for triggering earthquakes. Here’s part of a USGS press release to ponder as recent Oklahoma quakes have been revised upwards:
“Revisions follow standard USGS re-analysis
The U.S. Geological Survey is updating the official magnitude of the September 3, 2016 Pawnee, Oklahoma earthquake to Mw 5.8 (from 5.6), making it Oklahoma’s largest recorded earthquake to date.
The magnitude revision is based on further in-depth analysis of seismic recordings. Changes in estimated magnitude for an earthquake are common in the hours-to-days following the event, as more data are analyzed in greater detail than is possible in the first minutes after the earthquake occurs.
Concurrently, the USGS is also updating the official magnitude of the November 6, 2011 Prague, Oklahoma earthquake to Mw 5.7 (from 5.6). Questions regarding their relative size prompted a re-analysis of both earthquakes. Both updates are the result of comprehensive studies of the long-period, globally-recorded seismic data for these earthquakes, using consistent approaches and datasets for each event.”
Injection wells, poisoning ground water, trampling surface-owner rights…that seems all to be fine and dandy. But as the link between fracking, injection wells, and serious earthquakes continues to firm, we have to tone down some of the premature talk of US Energy Independence.
I would not put it past this administration – as a kind of out-going gift to the incoming anointed one – to impose emergency rules on fracking that might reduce future energy coming on line.
Doesn’t seem smart, but it might be in some ways: It would drive up the price of oil and such, and that in turn, could end the long period of low interest rates that we’re bumping along right now.
US Department of ReWrite
Sure you want to do this? Is any of this NEW?
BREXIT disaster stories are fun, too: Brexit tax: Brits will pay 11% more for an iPhone 7, lol. Had nothing to do with the EU Apple tax dodge decision, I’m sure…
Speaking of which, since the BREXIT – and now with Ireland trying to figure out if they will recover big bucks from Apple (or presumably flush their EU membership), would an Irish Exit from the EU over Apple be an Applit? (groans)
Here’s something Useful for a Change
Yes…if you can remain standing. Go ahead, ask me how I know this one…
Q3 taxes due a week from today… Bigger government than we can afford depends on you.