It’s called the Personal Income and Outlays report and it begins “Once upon a time….”
“Personal income increased $28.6 billion (0.2 percent) in August according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $14.9 billion (0.1 percent) and personal consumption expenditures (PCE) increased $18.0 billion (0.1 percent).
Real DPI decreased 0.1 percent in August and Real PCE decreased 0.1 percent. The PCE price index increased
0.2 percent. Excluding food and energy, the PCE price index increased 0.1 percent.”
The fun part is this:
The increase in personal income in August primarily reflected an increase in government social benefits to
persons and compensation of employees (table 3).
Missed the gravy train, did you? And this…
Personal saving was $522.9 billion in August
and the personal saving rate, personal saving as a percentage of disposable personal income, was 3.6 percent…
Does anyone actually save 3.6%. With kids? The BEA blog has a good article here on how it’s calculated.
Not keeping up with GDP, though. The GDP going up 3.1% annualized means the wages aren’t keeping up…which ought to make the rich happy-dance today.
The number hasn’t had much impact of the futures which are suffering from a lack of real news. Next week we get employment data at week’s end, so the market may meander a bit, depending how things go on “the peninsula” this weekend.
Fed Sending Market To new Highs
You can see it in the H.6 money stocks report if you know how to read it. For the 13 weeks (annualized) through July (in other words the to August) number: M1 was being pumped at 6.7% annualized.
But through September 13? The pump is up 9% for M1 annualized for the previous 13 weeks.
And the money goes where? Why into the market and to facilitate the repurchase of Fed debt which it’s trying to clear off the books.
We don’t know if you got the memo, or not, but market bias is higher, seems to us.
One of our children, by marriage, is a phlebotomist. (So’s my son G2). Every so often when I read the news thoughts about their job prospects forward roll through my (sick and deranged) mind. Let’s go for a spin in the medic unit, shall we?
We start with the NY Times piece “In Grim Camps, Rohingya Suffer on ‘Scale That We Couldn’t Imagine’.” The Wiki entry on these people is grim:
“The Rohingya people (/ro???nd??, –h?n-, –??j?/; historically also termed Arakanese Indians) are a stateless Indo-Aryan people from Rakhine State, Myanmar. There were an estimated 1 million Rohingya living in Myanmar before the 2016–17 crisis. The majority are Muslim while a minority are Hindu. Described by the United Nations in 2013 as one of the most persecuted minorities in the world, the Rohingya population are denied citizenship under the 1982 Myanmar nationality law. According to Human Rights Watch, the 1982 laws “effectively deny to the Rohingya the possibility of acquiring a nationality. Despite being able to trace Rohingya history to the 8th century, Myanmar law does not recognize the ethnic minority as one of the eight “national races”. They are also restricted from freedom of movement, state education and civil service jobs. The legal conditions faced by the Rohingya in Myanmar have been compared with Apartheid.[“
It’s a sorry mess, for sure. No telling how many will die.
While the US press is dutifully bashing the Trump administration for everything from Ivanka’s clothing choices on, realize that this didn’t just start when the bashers ran out of mean-n-nasties to hurl at Trump. The problem, arguably, would never have grown to such a scale had the press been more alert to what news is, rather than pandering to the infotainment concept.
Sorry, back to point.
Our next stop the medic unit ride this morning is India. Mumbai rush hour stampede leaves 22 dead. Collapse fears on a pedestrian fly-over.
As always, there’s nothing like a career in medicine…depending where you practice.
Thank to Another Obama Appointee…
The legal logic on this is as full of crap as most of Obamite nonsense is: The judge (appointed by you know) said BLM is a movement and can’t be sued.
Which is bullshit: The filings had names and addresses. And if you have those, you have persons, not movement.
We expect this to be reversed on appeal, but no telling how many Obama holderovers, so to speak, are left.
Assange Offers Russia Deal
This one is interesting: Julian (WikiLeaks) Assange says he’s got proof that the last, what is it, 10 months? of Trump-bashing has been collusion between the democrats at the left guard intel agencies.
So far the Trump folks haven’t responded – seems there are still palace guards who want the boss kept in the dark about such offers.
Meantime, Glenn Greenwald over at The Intercept is saying, essentially the same thing we have been since election day. “Yet Another Major Russia Story Falls Apart. Is Skepticism Permissible Yet?.”
Well, duh. As usual, the UrbanSurvival follow the money mantra will be right again. Sometimes it takes a year, or so. But speaking of which, notice how the Foundation has gone quiet?
In fairness, Clinton: Media, opponents ‘savagely smeared’ the Clinton Foundation…but tell us about that uranium deal, again? And about the email server? And about why what’s his name went to jail without his wife? Jeez…pays big to have friends in high places, I guess.
Fine new lease too: As the Clinton Foundation inks a sublease at 1633 Broadway. Nice ‘hood.
Meanwhile, we’re counting down to the new Tom Cruise movie American Made. Question is: is it a truth leak?
Running Out of News?
13-Coins restaurant in Seattle retired its legendary SST-Sandwich nearly 10-years ago. (It’s still on their “secret menu” if you ask, though.)
So if it’s clear the SST is long gone, why, we’re wondering, is CNN rolling out the umpteenth rehash of the TU-144 isn’t flying much story?
Meantime, the network is offering medical advice, too, like 8 foods that can cause heartburn.
Yea, verily, brothers and sisters, the country has too much channel capacity and not enough real content.
Then There’s the Packers
Standing and linking arms? Players did – and so did some of the fans.
Whether that’s a “reasonable accommodation” or just a pause in the attack of the ms.guided SJW types remains to be seen. We’d accept it as compromise, except that it leaves us in a world of hurt with no national hand-wringer to go manic about. And then we’re back to the too much channel capacity problem.
Woe is with us.
From the Political Correctness Directorate
Or from us, a simple Tzom kal.
Smart-ass Headlines Answered
Will my anorexia stop me going to university? If you’re dead from it, generally yes. Unless admissions are behind plan…
Brexit: Are more British nationals applying for dual nationality in the EU? Yes, the very rich I figure.
How long should we wash our hands? a) until they are clean b) until they fall off Didn’t I tell you there was a “news shortage” on?
How do zebrafish develop their stripes? (Gee, I dunno…by screwing zebras, maybe?)
Did rapid sea-level rise drown fossil coral reefs around Hawaii? How old is this question?
Who’s afraid of disruption? The rich.
Can a $300 Cooler Unite America? If there is 90-million gallons of Everclear in it, maybe…