Rreality-Checking Some News

With Dow futures up almost another hunsky before the open, the economic news is not so interesting as the “wave of the mob” so let’s till that ground for breakfast…

Wrong picture, Drudge:  Today’s DrudgeReport shamefully puts up a picture of Donald Trump on a $20-bill to draw attention to a story about the Federal Deficit.  In fact, all spending bills start in the House, and are passed along from there.  If anyone should be pictured, it should be the clown posse called “speakers of the house” (past and present) who should appear as a three-ring corporative-captive circus.  We were mightily disappointed by the bash.

Ah, but who needs facts?  Eyeballs are what matters.  Tragically.

Producer Prices…

…are just out.  See what you make of this:

The Producer Price Index for final demand advanced 0.1 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.1 percent in May and 0.2 percent in April. (See table A.) On an unadjusted basis, the final demand index rose 1.7 percent for the 12 months ended in June, the lowest rate of increase since advancing 1.7 percent in January 2017.

In June, the rise in final demand prices is attributable to a 0.4-percent increase in the index for final demand services. Conversely, prices for final demand goods fell 0.4 percent.

The index for final demand less foods, energy, and trade services was unchanged in June following advances of 0.4 percent in both April and May. For the 12 months ended in June, prices for final demand less foods, energy, and trade services climbed 2.1 percent.  

And pictorially?

Now, flip over to your favorite market tracking site and see how it  gets hyped.

Doesn’t Change Our Outlook  which is for a market high water mark in the late August to early fall.  A decline is likely this fall, but that may just be a Wave 1 down.  A rally near year-end, for a Wave 2 bounce, but then a Wave 3 down and an  S&P a thousand points lower would maker sense next spring.  Especially with the democrat’s circular firing squad. And American leadership mostly in exile from the Hill.

Epstein’s a Democrat…

…but you wouldn’t know it from the bash stories that are trying to connect Trump.   Vanity Fair is out with “Just “Him and Epstein” and “28 Girls”: Florida Man Drops a Dime on Trump…”  On the other hand, a story a couple of days back in the  Washington Examiner offered this on Bill Clinton’s “four flights” on Epstein’s so-called  Lolita Express:

“But a Washington Examiner review of flight manifest records contradicts these claims. It shows Clinton took 27 flights on Epstein’s private jet during at least six different trips…”

We will be intrigued to see who’s on what flights when all’s “sad” and done, but our money’s on big names. Lots of ’em, mostly dems…

Ma Nature Shakes It

Phone rang early this morning as one of my children called from Seattle to announce she was OK.  But, she didn’t sleep well with the Seattle earthquake overnight.

4.6 temblor near Monroe, Washington at 4:51 AM local out there.  Looking at the maps, I figure the daughter was about  9-miles from the epi.

Her hubster being from Los Angeles wasn’t concerned.  On the other hand, the daughter is worried this could be a fore-shock like L.A. had…  She got up, made a strong pot of bean and checked their prep inventory.

Barry Coming Ashore, Too

Other than media trying to top one-another for total rainfall totals expected (we’ve heard 25-inches as the high so far):

This will likely give us rain, but we’ll fill up the propane jugs today and crank down 60-feet of ham radio tower, just in case.

The problem here is “forecast drift.”  In one outlook, we are going to have a clean miss here in Sahara, Texas.  Previous forecast warned us to put Noah’s number on speed-dial.

Typical mainstream coverage includes headlines like In vulnerable La. town , some flee storm and others “party it up”.

We’re almost tempted to drive down to Nawlins to see reporters bending into wind…

Important Moving Pieces

There are a few stories that, while they may not be huge audience builders, are nevertheless important in the longer term:

China To Sanction American Defense Contractors Who Sell Arms To Taiwan, for example.  We consider it a given that China will be the owners of the RoC by 2026.

Also in Asia: “I Thought The Numbers Would Be Bad, But This Is Ugly” – Singapore Economy Unexpectedly Tumbles; Chinese Exports Slide.  Is this related? China copper imports in June fall 27% from a year earlier.  China’s economy is changing…keep an eye on it. China’s June exports, imports fall as trade war takes heavier toll.

Iran warns UK tanker seizure ‘dangerous game’ heads the BBC.  We’re wondering if the Iranians were able to figure this out without help?

If you like Money (and who doesn’t?) the  NY Times Business section has a good educational read on Long-Short Funds: Long on Complexity, Short on Returns.

More crypto hype is rolling out: Facebook’s Digital Money Could Mean Fabulous Wealth. Or Not.  One other Digital Mob Rule Note: ‘Fake’ charges fly as Trump rips social media for bias, dishonesty.  We’re working on a fart-backed currency which would at least have a tangible…

And , if you are ‘lighting up breakfast’ A look inside the black market for weed shows the huge threat to legal businesses.  Then toke on  CannTrust’s cannabis regulatory woes, Florida MMJ caps, push for Congress’ support of STATES Act & more.”

Grist for the Digital Mob:How rich people could help save the planet from climate change”  But, they won’t, of course.  It’s a privilege of the rich to live by rules not applied to ‘us little people.’  Look to the corporate jets used by Epstein, Gore, and the rest.  My, ain’t they  special?

Hmm…my cynicism pill is wearing off early.  Time to roll down to the propane dispensary and load up.  Not a proper storm-watch without ribs down he’ah.

Drop for moron the ‘morrow.

12 thoughts on “Rreality-Checking Some News”

  1. G –
    can U smell that “smell”. its like the smell of napalm in the morning – Victory. POTUS tweets this AM regards Bitcoin.. looks like that “train” is leaving the station.
    As Master Yoda once famously remarked to the young Padawan..”many of the truths we cling to depend on our point of view”.

    The coot does not fear heights, rather he respects them ..starting to nibble on downside protections (Buying Puts) going into earnings season Monday. Do not want be holding, be long any stocks of companies with sky high valuations and No earnings..cant see those future earnings coming in while economy is sliding into recession.

    Demonrats ..block Born Alive Bill.

    ? Market price of Fetus..

    ?Correlation of market price & days old fetus/baby..

    *As age(days) increases so does value..

    ?Still believe this has anything to do with a Womens right to Choose -Q

    Follow the money, “EVERYTHING is a Business Model” – G.U.

    * “when U look at the darkside, careful U must be, for the darkside looks back” -Yoda

    Now where did I put my Iron Shirt?..

    • RE: the Future of Bitcoin, the Dow, the economy, the Dim-o-crats, Trump, etc. (with nods to Coot):

      “Difficult to see. Always in motion is the future!” ~ Yoda

      As the weekend approaches, I fully intend to follow this sage advice: ” . . . have fun and practice the art of only doing those things which you genuinely enjoy.” ~ George Ure

      WRT that 2nd quote, bear in mind that “I might be crazy, but I’m not stupid.” ~ Jackie Chan

      • the Dim-o-crats,

        OTFLMAO….. I love it W/H

        you know how canada got its name don’t you…. C… aye…N…aye…D…aye..

  2. Apple asks suppliers to explore a 15 to 30 shift from China to Southeast Asia as the trade war looms. China will have to open up its markets to more than Taco Bell & KFC (YUMC) which is my China indicator. With YUMC at $44 a share, China doesn’t look that hurting.

  3. “We’re working on a fart-backed currency which would at least have a tangible…” Am I the only one dying here? I mean come on that is freaking hilarious. I literally laughed out loud!!

  4. “It’s a privilege of the rich to live by rules not applied to ‘us little people.’ Look to the corporate jets used by Epstein, Gore, and the rest. My, ain’t they special?”

    Could it be, perhaps, that THEY have a better control of re-directing their CHI-energy to the effects they desire?
    Most of ‘us us little people’ probably never heard of this.

  5. Anyone who understands statistics will tell you that any deviation of less than 2% is meaningless. And that includes things like producer prices. In light of the 7-11% actual inflation, what you are looking at here is actually a decline. So if producer prices declined, why is the cost of everything in the USA going up to produce the Chapwood numbers?

    The other most underreported statistic is the decline in number of units hidden by increasing prices. For example, movie ticket prices continue to increase, while quantity of ticket sales declines. But still revenue continues to creep up every year.

    Same with bottom line increases. The USA population grows by at least 3% (or more if you count illegals). So if bottom line numbers don’t increase by at least 3%, it is a shrinking business or industry.

    When it comes to purchasing power, the USA economy is less than china’s. If it costs $10 to buy a basic shirt in the USA, that same shirt is available in China for $3 equivalent in Chinese currency. There is tremendous hidden overhead in the USA economy, absent in many countries around the world. That’s why in Ecuador the minimum wage is less than $500 a month but will support a family of 4 quite easily.

    So when someone says the USA is still the best place to be, that is factually untrue.

  6. “”We’re working on a fart-backed currency which would at least have a tangible…””

    Don’t do it George I beg you to reconsider what your going to back your currency with… even if it would have more credibility and a tangible backing.. what’s better than good Texas chili.. and where can you get any better beans than texas..
    But… And I mean BUT remember that there can be consequences to ass gas backed currency.

    The Darwin awards the last supper 1993..will explain why ass gas currency is a bad choice.. instead back it with peanuts or washers.


    • Most cryptos are actually backed by hot air from gas-bag advocates. Swapping to a bio-gas backing would create the world’s first organic crypto currency. Quick G_____, file for a patent before AOC and her green Stalinist genocidal rat-pack steal your idea.

Comments are closed.