The word “Polydunce” hasn’t formally existed prior to this morning. Sure – other words come close. A “polymoron” for example is defined as “A multi-dimensional moron. A moron capable of several simultaneous vectors of stupidity. One whose moronic episodes become legend.” (We try!)
The difference between a polymoron and a polydunce is that the episodes of latter are not usually “moronic.” Actions may have some rational basis in facts. Just the wrong facts.
The weekend was simply not long-enough to establish moronic or dunce. Too many projects are what manufacturing engineers call WIP – work in process.
Still, the judgment to mow instead of research based on the weather forecast was sound: We had over 2-inches of rain here in East Texas between the Friday column and this one. But, that left uncountable other things incomplete.
I’m sure you go through the same in your personal “criticism – self-criticism” sessions. But Monday’s are hard because it’s the morning we step up to the rock pile again and look at the smallness of our hammers. Didn’t break enough rocks this weekend…
We are in a position this morning where the stock market could utterly collapse. Fortunately, the market doesn’t read this column and the odds of another sunrise are – happily – quite good. Still, do consider the “completeness” of how an Aggregate view of things looks:
The arrow on the left is where futures pricing pointed us early today.
Being a hybrid human (trying to balance right/visual with left/numeric brain functions) I adopted “colored trading boxes” to clarify my thinking about which Elliott Wave functions we might be in.
As oughta be clear, the “blues” show a long-term completion while the greens also show complete. The horrifying part is so do the smaller red boxes. Since the 5th wave can be larger than the 3rd under Elliott, we are on a tightrope presently that is swaying in the wind.
Print, Fed, print! Borrow, borrow, borrow!
Overnight & Commodities
Asia was up a little overnight (6-10th’s %) while Europe is down a little more than that (on average). This doesn’t mean a decline today in the U.S. would be totally a coin-toss. That’s because the U.S. is still floating above the “rest of world” averages. That ain’t normal. So world oughta rally, or U.S. ought drop.
Problems abound, however. The Consumer Prices (along with the NFIB Small Biz optimism report) land tomorrow morning. And if that’s not enough, people are breaking into “diseased thinking over Covid” which we will get to presently.
Main thing is while inflation fears are real (can you make up $5-trillion a year of “economy”?) there’s the nits and nags going on in commodities.
Ethanol, on the other hand, is up almost 7%. Which either means a fresh round of climate hysteria is coming, or the corn is going nuts. Corn was down a little bit (-1%) along with oil, which nudges the nascent science of “political-climatology” toward conspiratorial ends. Particularly when wheat is not moving.
Thumbing Through Headlines
The Big Question – any morning – is “What’s going on that truly matters?” A lot of people are “news junkies” but haven’t really paused long enough to understand why. Like everyone hits the brakes driving by an accident on the side of the freeway, right?
What makes an executive mind, different from a plebe is a single-minded focus only on mission. They will spend zero time on weather (elsewhere) or the daily body count from Florida building collapsing because that’s “off-mission.”
With this in mind, the summer doldrums present useful opportunities for personal “filter settings” and testing. What matters? And why waste time on what doesn’t. So here’s a run at some topics…
Who do you believe when comes to bio-hype? The (too liberal for us) New York Times doesn’t have any problem claiming supremacy: Fox News Hosts Smear Covid Vaccine, Despite Outbreaks Among Unvaccinated – The New York Times.
But we’re sensing what matters may be prepping for future lockdowns before the rush. Reason? Delta variant is spreading and with it? Stories like “Health experts say Delta variant symptoms are different than common COVID-19 symptoms, here’s what to look out for | 8News (wric.com).” All similar to a bad hangover, though…
PreWar Jitters: If you believe that the Covid virus was a bio-you-kn0w-what, then it lights a fuse that ends with larger weapons going boom (or flash, or click…such are modes of wide-spectrum operations). Pay attention to China says it ‘drove away’ U.S. warship on anniversary of tribunal ruling | Reuters. And how the U.S. is claiming Pentagon Sees China’s Offensive Space Technology ‘On the March’ (msn.com).
As if that’s not enough to elevate BP, how about War Games In California And Florida Linked To Test Massive “Kill Web” (thedrive.com). As readers know, the emergence of theater-level data management versus massive autonomous drone formations has never been tested. There are compelling cases for each holding promise. Thing is, do you want to march into Taiwan to light off WW III with a promise when the other side is knowledgeable?
This is why Chip Wars are being waged, we expect: Just this morning, Forbexs rolled Worsening Computer Chip Crisis Shows Supply Chains Are Still At Risk (forbes.com). As always, the news flow may be giving us a “view of the future” not everyone wants to look at. Around here, this kind of content is “real deal prepping delimiter” material.
Useful Prepping/Planning Stat? How many calories in a 50-pound sack of uncooked white long-grained rice? 82,750. So, 3,500 calories per day of raw rice for two people? 23-days of carbs from a 50-pound sack. 77,500 calories for a 50-pound sack of beans (depends on variety). But this has a lot more protein. Which is why we are HUGE fans of beans and rice. Along with most of Cuba, lol…
Milestones to notice: Jimmy Carter, wife Rosalynn celebrate 75 years of marriage. It can be done!
Useless (or Drivel)
Marketing “racism” continues. As a Temple University professor claims all White people are ‘connected to racism’. Seems to me, so are Black people. So are people of ANY color. The point? Takes two (or more) to tango!
If you want to look at slavery honestly, there are more slaves in Africa today than anywhere else in the world! Where’s the outage? Ooops! It’s a monetization! What liberal (monetizing ideologs) don’t mention is “There are 40+ million people in slavery globally. That’s more than ever before in human history.” Rather than fund the International Justice Mission‘s work, it’s sadly more common to see self-important demagogues talk the talk instead of walk the walk. Hence, we file it (along with CRT) under bullshit and move along. The old man thinking is? Fix the real problem or STFU. Anxious to revisit this when ongoing Black slavery ends and Black-on-Black violence is addressed. We support total equality – but that also means no one is “special.” For now? “Money flows where audience grows” You can take that to the bank.
“Open-borders ESL and CRT please welcome our next contestant in American Specialness Monetization Champeenships!” ‘A watershed moment’: Illinois becomes first state to mandate Asian American history in public schools.
Aren’t there any moderate, rational, centrists left in ‘Mercia anymore? Naw…
Lost In Space: We couldn’t help but wonder – reading Billionaire Richard Branson reaches space in his own ship (apnews.com) – why are these rich dudes are trying so hard to get into space before we “get our shit together” on Earth? Seems like irresponsible escapism to us, with a side of showmanship and ego, of course. Also, as Elon and Jeff adventures to-come show, one set or problems are engineering – while the other problems are people issues.
Poppy Peddlers note: Republican lawmaker who served in Afghanistan says it’s ‘likely’ US will have to return. Just too much money involved for anything else to happen…
Government out of bounds: ‘Utterly Unacceptable’: Judge Blasts DC Jail for Not Allowing Jan. 6 Capitol Defendant Access to Evidence (theepochtimes.com). (Why is “I’ve been working on the railroad, all the live-long day….” going through my head? Swear, I’m putting up razor wire around our place…)
Mass shooting averted? 4 people were arrested after police were tipped off to more than a dozen firearms in a Denver hotel room. You know, when there are more than 1,000 rounds found in a hotel room, maybe cops oughta be able to waterboard people to find out the real story. Pronto. The peddle that this was over a divorce, implied on a FB post just ain’t flying with me…sniff test fail…
40-minutes to the open, the market’s been arb’ed down 132 after being down >200 earlier. Off to another Mun Funday, huh?
Write when you get rich,