7.5 years vs. 3.0 years in the late 1960s and the first half of 1973.
Unprecedented in the history of the metric.
Thursday, July 9, 2026
30-year mortgages have averaged above 6.00% since August 2022
It will be four consecutive years in September 2026.
Some people think it is significant that U.S. commercial stocks of crude oil increased a little bit week over week to 411.4 million barrels as of 7/3/2026
Well, I don't.
Whenever U.S. commercial companies buy oil from the U.S. Strategic Petroleum Reserve at auction, those barrels are subtracted from line three but are added to line two.
It's more complicated than that because some oil might be stored temporarily, or refined into other products which means it shows up on other lines, or it gets exported and shows up there.
The point is sales from SPR distort the U.S. picture, IF those sales are purchased by U.S. commercial companies.
And for March through early July, U. S. commercial companies have purchased AT LEAST 52 million barrels from SPR.
That has distorted the true state of U.S. commercial stocks from week to week throughout the period.
Meanwhile, speaking of distortions . . . where did they get the product for this?
White House touts launch of 25 Freedom Fuel gas stations
... “The FIRST Freedom Fuel Network gas station has LANDED in Philadelphia, lowering the price at the pump to $3.47 for our 47th President,” the White House wrote on the social platform X on Tuesday. ... Twenty of the stations are located in Pennsylvania, while five are in New Jersey, according to the Freedom Fuel network’s website. A White House official told The Hill the Freedom Fuel Network is a private company and did not receive subsidies from the administration. ...
Harold Meyerson: Late-stage American capitalism is the father of the fascist Chinese Party-State
Except Meyerson can't bring himself to use the word fascist, let alone Party-State.
"State capitalist power" is his polite euphemism for fascist power, which leftists who want to be taken seriously still must use apparently, ever since George Orwell said in 1944 that fascism had become a meaningless term, you know, like the words man and woman.
He stops short, too, of saying that there is something suicidal built into the West.
The conservative Oswald Spengler identified that something as Christian theology. He said it was the grandmother of Bolshevism, which is probably why Meyerson doesn't mention it! Don't wanna upset the fascists, the Christians, AND the true believers all at the same time.
But the fact remains that the heirs of Christianity in America have sold the rope to the Chicoms which they will use to hang our children after they are finished impoverishing them.
Meanwhile Utopia still exists for Meyerson, in Norway, Sweden, Finland, and Denmark, cold, wet, snowy, and dark NATO nations which rely on the American nuclear umbrella for their security.
... there is no such communist power [like the USSR] today.
There’s China, a Leninist-verging-on-tech-infused-Stalinist state capitalist power, but it boasts no virtually ideological adherents either in the States or abroad, and certainly not within the Democratic Socialists of America. It does have spies, and thugs who intimidate dissidents in the Chinese diaspora, but it lacks any support within the actual American left. To be sure, China’s rise to economic world power was fueled by offshoring American companies, but they went to China at the prompting of Wall Street as a way to boost their profit margins, Chinese labor then being dirt cheap. In other words, it was our leading capitalists, rather than any American socialists or communists, who sold out the industrial Midwest. ...
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