It’s going to be quiet today – at least in theory – until we get to Wednesday morning which has the Consumer Price Index (BOHICA) due.
Of course, expect much gnashing of teeth and political yammer-speak, but it’s of no consequence. The Fed doesn’t meet till the second half of September and the geo-economic-political landscape will be massively different by then.
Dow futures were up almost a hundred. Maybe because the dollar is down a bit. Remember, when the dollar is down and gold is up, it takes more dollars to buy the same breakup value big companies. So, it seems as though the market is going up. More a “re-pricing” game, than anything.
Our outlook is for a soft, upward drift until just ahead of Labor Day.
Delusion Still on a Roll
You can see it in the price of BTC. This is a pretty good coincident indicator to market action in the medium term:
BTC was over $24,000 early on. And yes, European stocks were up 3/4th’s of one percent earlier, so a 200–400-point rally is possible – so long as nothing goes off the rails today on the news side.
Fear Cluster Movement
Joe’s back! Which means no Kamala Harris as president – at least today. Biden steps out of the room and finds legacy-defining wins.
There is still a lot of “chatter” about “something big” (maybe even life-changing) come the middle of next week. But no telling what that might be.
Could have something to do with Ukraine or Taiwan. But in the overnights, about all we’re seeing is….
Rosary beads out? A Ukrainian nuclear plant is a big talking point as Ukraine: Any attack on a nuclear plant is ‘suicidal’, says UN.
Out in the wild west (off China’s east coast) hair-trigger readiness continues: China announces military exercises around Taiwan will be extended. Which means the odds of war continue along. If they extend the drills and probing all the way to Labor Day, that might be a key weekend to plan on Taiwan being invaded.
Personal Consumption Notes
We’ve got several parcels worth of high-speed diodes coming. To repair electronics with. That’s the kind of thing now one will have ready stock of when China decided to sanction us. Anything from Asia you need, might think about moving the buying plans up. Prices on most consumer goods are still pretty reasonable – for now.
Triple A gas price survey was running $4.059 this morning. Pappy held to the theory that Mondays aren’t a good day to fill up. Too many people run their tanks dry over the weekend. Tuesday’s prices are generally a few cents cheaper – or at least were 50-years ago. Not sure basic human dynamics change much, so we’ll look in tomorrow and see how that “economic theory” (that matters) holds up in what Chinese propaganda outlets call “The New Era.”
Brace for Tax Hikes
Gas coming down a buck, or more, means that inflation numbers just ahead of the election will be moderating. Expect the Dems to be dancing and chanting about how great they’ve managed the economy.
If there is a payoff (rebate on federal gas taxes) it should be obvious what we’ve told you from the start: Lefty’s buying off voters. Don’t laugh – it really works with the lower-IQ crowd.
Over on the Americans for Tax Reform website, you can read the gory list of uglies in the wings. List of Tax Hikes in Democrat Reconciliation Bill. One of the left’s Big Lies is that corporations pay taxes. Absurd BS. They just pack it all into higher prices. It’s this kind of repeated lie that has make us a national of (bah!) sheep.
ATR also outs Joe Machin for being (just another) promise busting lefty in Joe Manchin Has Officially Violated His Pledge to WV Voters to Oppose Any Tax Increase in a Recession. This neatly explains why the dem’s have been so desperately trying to “redefine US” out of a recession. Sorry – even the liberally leaning Wikipedia still has redefining recession blocked.
Our old political saying (“You know how you can tell a dem is lying? They’re talking…”) remains intact.
Collapse of ‘Merica
Maybe I should have skipped working. What is it now? 61.5 years I’ve been working? Paying taxes for 57.5 years. Had to file at age 16.
Had I just gone straight to the street (and drugs) maybe I could have landed in Miami, where it looks like the rubble, rabble, and homeless are about to get their own island. Miami Is Tearing Itself Apart Over Bonkers Plan to Move Homeless to Island.
Murder Still in Style
Swift and certain punishment is certainly one way to keep people in line and toeing the local behavioral lines: Saudi Arabia executes 80 prisoners in mass beheading as 120 inmates killed this year. 120-so far this year. Here in the US a total of just 62 are scheduled to die. Saudis are ranked 59th globally in murders. While the U.S. Ranked 9th. 49 times more than Saudi Arabia, says Google Search.
Meanwhile, four Muslim men being killed in New Mexico is raising concerns: APD holds press conference in light of recent homicides.
Meanwhile in big cities, street crime is going up (remember, the commies are pressing defunding the cops). Chicago for example: More CTA riders getting attacked, violence at a level not seen in over a decade.,
The Ure’s believe in “bear spray” – with a plastic tip that moves at 1,300 FP/S.
A Peoplenomics Note
We weren’t joking when we suggested Saturday that Monday would be a good day to take off work. One reason was about the most exciting thing would be “Swiss unemployment figures.” Well, here you go: Unemployment remains at a low 2 percent (watson.ch).
ATR: Cold Snap Arrives
Still too hot to spend much time in the hobby shop section of the grown-up playroom “shop” this weekend.
But the gate into the garden did get upgraded – and thanks to the reader who suggested the concrete blocks to fill in the bottom of the gate, as well.
As much as I was looking forward to welding the metal stakes on top of the gate, when I got out the tools, it was just too dangerous to weld. Sparks, fire, all that kind of thing.
Instead, I took the fence down to bare metal and then used a 3,600-pound Loctite epoxy on it. Set up in less than a half hour and with that kind of breaking strength, should do just fine. No violations of the county burn ban were incurred.
VOA Day! No, not the Voice of America. No, Sunday was also Victory Over Ants Day.
I’m not sure whether it was the bait stations, or whether taking down the small trees touching the house. But it doesn’t really matter – since the ants haven’t been back.
Thanks for all the good ideas, too.
Winter’s coming: High today here in the Outback will likely be 101 (again). But the major cold snap comes Thursday when highs will be just 92 with a fair chance of rain.
It’ll get plenty warm in coming weeks, but a week from now I’ll start putting in the fall garden seeds and getting all that started. Check your local gardening club or visit the USDA Plant Hardiness Zone Map. Then get your survival food in for fall while you can.
Famine is still on our radar. Take a look at the column ‘Not All Farmers Have a Future’ Is a Recipe for Famine (townhall.com), too. Or take Business Reporter – Sustainability – A world tour of famine frontlines.
Eating is a hard habit to break.
Write when you get rich,