Thursday, December 18, 2014

Brian Wesbury is wrong: First rate hike will not be in six months

Brian Wesbury & Co. here says the first Fed rate hike is coming in six months (June) because "considerable time" has secretly meant six months to Janet Yellen all along. Dropping that phrase for the word "patient" signals that the six month timer has begun ticking.

OK, maybe so.

But if the employment numbers cool as I expect them to after the first of the year when all the part-timers hired recently are let go, the Fed will still be in the rhetorical catbird seat to delay a June rate hike indefinitely because of the language change, without looking like it has back-tracked on its plan.

Janet Yellen may have an "obsession with the labor market" but she is not stupid.

If Democrats and Republicans had been so obsessed, she wouldn't have to be. At least workers' lives matter to Janet Yellen, which is more than can be said for the usual practitioners of the dismal science.

The good olde days . . . when Cuba was still the enemy

PT boat on the way to Havana
I used to make a livin' man
pickin' the banana
Now I'm a guide for the CIA
hooray . . . for the U.S.A.
Baby, baby, make me loco
Baby, baby, make me mambo

Sent to spy on a Cuban talent show
First stop . . . Havana a go go
I used to make a living man
pickin' the banana
hooray . . . for Havana
Baby, baby, make me loco
Baby, baby, make me mambo

Useless Steve Gruber Show shields Rep. Tim Walberg from heat for Cromnibus vote

Steve Gruber had his opportunity this morning to let Congressman Tim Walberg feel the heat for his vote last week which helped move Cromnibus through the Congress, and instead shielded him by talking about anything but that.

1320 WILS' Michael Cohen had a much better interview of the Congressman here on Monday addressing the issue in depth, but alas it was not a talk show which takes callers' questions and comments.

They call it freedom of the press in America, but its organs make sure that they continue to protect the liberal status quo for obscene government spending and its representatives, because they PROFIT from it.