Yeah, I know most people think the stock market was up Thursday. Up about 35 points on the Dow.
And I’ll even grant you that the S&P was up a point, too.
But please look at the NASDAQ: Dropped 25 points.
This is why on our Peoplenomics.com site we tend to look at markets in aggregated terms.
If the S&P was up 0.04% and the Dow was up 0.17% but the techs were down 0.43%, do you really think the market went up?
With a lower open ahead, we would not be surprised to see a 100 point drop for the week. Maybe half that – all depends what Fed Head Janet Yellen puts on the table next Friday but we won’t know until then.
Meantime, the foot-race is on between Gold (about $1,260) and Bitcoins ($1,181 when I looked this morning).
Next Week’s Menu
Next week ought to be really interesting, in particular with president Trump’s upcoming appearance before congress.
The way we read it is that Trump will distance himself from the old-line republicans like Paul
Ryan and will call out this clown posse (Fools on the Hill) for not giving him real reform legislation.
One commentary I noticed this morning – which made a dandy point – wondered why the republicans couldn’t just send Trump their plan healthcare plan that Obama vetoed?
Oh, no, that would be too damn simple, wouldn’t it. Besides, the “spice” from all those wheeler-dealers in D.C. (campaign extortion, essentially) hasn’t been collected, I suppose…
All boils down to Trump trying to make things change and the D.C. Establishment is out to block him.
Meantime, after reading the NY Times piece “The Big Question for the U.S. Economic: How much Room is there to Grow?” we circle back to our Consumer Super-Saturation problem which coupled with total foreign dependence leaves us in an economic pickle.
As soon as the present market blow-off concludes, we will be in a dilly of a decline. Our bread and butter around here.
Friday in Two-Faced America
We see it at almost every turn this morning – double-standards.
When Barrack Obama took office, was there a story about how a “Sprawling Republican field” was already forming up to replace him? Not no, but hell no.
Yet here we are reading 2020 race lures sprawling Democratic field.”
Can you believe it?
Related? Racism is still alive and well and not always aimed at blacks. “Deadly shooting at Kansas sports bar was racially motivated, witnesses say.”
And the gender thing runs on endlessly as the WaPo reports “President Trump once opposed bathroom laws and pledged to protect transgender Americans.”
America may not lead the world in Tech anymore, and we may not lead in Education, Science, Math, or much else.
But this underlying psychological bent – applying different standards based on situational ethics – is a mess.
I’ll take an Americano, split shot with a shake and try to look at the positive. The double-standard is what leads to “Making America great again apparently includes Cold War-era nuclear dominance.”
As so we see a certain consistency to the country: World leaders in double-standards.
<My what a great place we is runnin’ huh?>
Disarmed and Dangerous
Couldn’t help but notice in the Chicago Trib today the story about how the homicide rate is running ahead of 2016’s record run rate.
If you don’t like guns, don’t look at this page.
Or, as the Governor of Texas, Greg Abbott is quoted as saying, “The gun control debate was settled in 1791.”
But, of course we were making borders then.
Cracked Ice Dept.
That huge chunk of Antarctic ice shelf is about to break off says the CBC…and Canada’s glaciers are starting to play a major role in sea level rise.
Still, we have to remind ourselves that Global Warming has been going on since the end of the Maunder Minimum. And that ended in, oh, about 1715.
We seem to have an underlying problem that predates the Industrial Revolution going on, but don’t let facts get in the way.
No, let’s impose a global carbon tax and get on with One World Government, shall we?
Very much on point, the New Yorker has a marvelous article that everyone in ‘Merica should have to read: “Why Facts Done Change Our Minds.” Spot on.
The Emerging Gestapo?
There’s a meaningful story in the Wall St. Journal you need to read. It’s under the headline “Travelers alarmed as Federal Agents check IDs after Domestic Flight Lands.”
Remember that airline commercial “You’re now free to move around the country…”?
Well, not so much.
We have to wonder WTF.
I’ll tell you how I deduce this is really “emergent Gestapo.” Follow my logic here:
The excuse for the ID check was they were looking for a “person of interest.” Now here’s the thing: They would KNOW whether the suspect (allegedly sought) was male or female, right?
So what did they demand ID from both sexes as seems inferred by the story?
This is what set’s off my alarms.
The ACLU calls the Customs/ICE infringing into the interior of America a defacto “Constitution-Free Zone.” See their map over here.
Not that you need to be more paranoid. But this weekend while you’re doing <whatever>. if you figure out how a country can talk gun control some of the time and build up nuclear weapons stocks other times, please let me know how that works.
The only answer I keep coming back to is that we’re all plain crazy.
What we need is a good crisis to focus on…yeah be looking for one of them next.
Market crash, anyone?
One more Fed hike, then the stock bubble peaks…and then….then….