Hezbollah confirms leader Hassan Nasrallah was killed in Israeli airstrike:
His assassination leaves a big void.
Hezbollah confirms leader Hassan Nasrallah was killed in Israeli airstrike:
His assassination leaves a big void.
But perhaps most ominous are signs that domestic manufacturing is on the cusp of a full-blown sectoral recession. Output has declined for five months, no doubt due to uncertainty over interest rates, as well as the debilitating shortage of skilled workers. The contraction, however, isn’t merely a reflection of Federal Reserve policy reinforcing supply-side choke points, which has undercut Team Biden’s efforts to reshore industry. In fact, production has been largely anemic since at least the slump of 2019; according to the Institute for Supply Management, a leading industry association, a 13-month stretch from 2022 to 2023 was the longest downturn since 2000-2002, when Permanent Normal Trade Relations with China went into effect. ...
These patterns should be of grave concern to progressives—as a matter of politics and policy. A similar, overlooked downturn late in President Barack Obama’s second term likely contributed to Hillary Clinton’s defeat in Pennsylvania, Michigan, and Wisconsin in the 2016 election. That, along with her campaign’s astounding indifference to the industrial Midwest, practically cemented the view among many working-class whites that today’s Democrats have abandoned their New Deal roots. Although the Harris-Walz ticket appears to be sustaining momentum and has trained its focus on preserving the “Blue Wall,” unanticipated headwinds in battleground counties could spell the same fate as Clinton’s. ...
The reality is that dozens of counties reeling from job losses have effectively experienced what many wage-earners rightly feared: stagflation. In more rural regions, peak inflation was higher than the national average, a trend which spread from the South to the postindustrial Northeast. Its toll undoubtedly compounded the sense of helplessness among rural households, who tend to pay more for groceries and other staples. Mainstream liberals seem reluctant to acknowledge as much. ...
An economy pockmarked by mini-regional downturns, moreover, belies headlines heralding a manufacturing renaissance.
More.
Harris’ challenge isn’t limited to abortion. The region continues to inch rightward. And Harris didn’t do herself any favors in 2018, when as a senator she grilled a Catholic judicial nominee about whether he could remain impartial due to his membership in the Knights of Columbus, a respected Catholic fraternal organization with a strong presence in northeastern Pennsylvania. The questioning is fuel for a multi-million-dollar campaign in swing states, including Pennsylvania, led by CatholicVote, a conservative advocacy group. ... in the northeastern part of the state, Trump was ahead by a comfortable margin, 50 percent to 43 percent.
... white Catholics nationally voted for Trump by a wide margin in 2020 and were on pace to vote for him again, with a spring Pew survey finding that white, non-Hispanic Catholic voters preferred the former president by a 61 percent to 38 percent margin over Biden. According to a recent EWTN/RealClear poll, that gap has narrowed, with Trump leading Harris among white Catholics, 52 percent to 42 percent. ... A Brookings analysis earlier this year by University of Pennsylvania professor John DiLulio noted that Hillary Clinton lost the overall white Catholic vote by 33 points in 2016, but four years later, Biden cut that deficit in half, losing by only 15 points. “As much as any single shift in voting patterns between those two elections, the shift in the white Catholic vote away from Trump cost him the 2020 election,” wrote DiLulio.
More.
The story never once mentions the possible appeal of J. D. Vance, a convert to Catholicism in 2019, to America's Catholic voters.
Core pce inflation averaged 1.6% year over year under Donald Trump.
CNBC knows full well that core pce inflation is the key gauge watched by the Fed, but it headlines the happy talk, lower, non-core number:
Fed officials tend to focus more on core as a better measure of long-run trends.
Silver rose to its highest level in nearly 12 years on Thursday, riding the coattails of gold’s rally to record peaks on interest rate cuts by major central banks.
Spot silver was 0.7% up at $32.06 per ounce, having hit $32.71 earlier in the day, its highest since December 2012. ...
Silver, which
serves as both a safe-haven investment and a key material in industrial
applications, has rallied more than 36% so far this year. ...
Spot gold, meanwhile, was up 0.6% at $2,673.06 per ounce, having hit a record high of $2,685.42 earlier in the day. U.S. gold futures for December delivery rose 0.4% to $2,695.8.
More.
Stephanie Ruhle is the Democrat hack who was a cheerleader for the orgy of pandemic spending, which Biden's economic adviser Jared Bernstein (who famously can't explain the fiat money system) thanked her for, and who once opined that it was good enough for Kamala to say bread costs 50% more because that proves she's not avoiding the issue.
House GOP torpedoes Speaker Johnson’s funding bill :
A diverse group of House Republicans torpedoed Speaker Mike Johnson’s (R-La.) proposal to fund the government on Wednesday, dealing an embarrassing blow to the GOP leader and derailing his strategy to avoid a shutdown at the end of the month.
Fourteen Republicans joined virtually every Democrat in voting
against the spending plan — which paired a six-month stopgap bill with a
measure that would require proof of citizenship to vote — bringing the
final tally to 202-220, with two voting present. Three Democrats crossed
the aisle to back the measure. [Davis of North Carolina, Golden of Maine, and Perez of Washington State]
The Speaker faced a troika of GOP opposition, with hard-line conservatives criticizing the use of a continuing resolution; defense hawks voicing concern about the impact the long-term funding bill would have at the Pentagon; and moderates expressing worries about having a shutdown threat so close to the election.
The roll call vote is here. 5 Republicans didn't bother to vote, mostly liberals from New York. Libertarian fool Thomas Massie and Marjorie Taylor Gazpacho Greene voted present. The 14 Nay Republicans included cranks Biggs, Boebert, and Burchett, as well as grandstander Matt Gaetz and Nancy Look At My Big Tits Mace.
Don't blame Donald Trump or Speaker Johnson, or the 199 Republicans who supported them.
Spot gold was down 0.2% at $2,652.99 per ounce by 1657 GMT after hitting an all-time high of $2,670.43 earlier.
-- Gold consolidates after smashing record on rate-cut momentum
The political environment suggests the election is Trump’s and Republicans’ to lose. Nearly every indicator of the election context is favorable to the Republican Party, and those that aren’t are essentially tied rather than showing a Democratic advantage. Nevertheless, the two major party presidential candidates have similar favorable ratings in Gallup’s September poll, echoing presidential preference polls that suggest a neck-and-neck race between Trump and Harris.
Here.
On Monday, October 6 Jim Cramer came on the Today Show at 7am and told people who needed their money in the next five years to sell their stocks.
The S&P 500 fell from 1099 to 848 by October 27th, almost 23%, on its way to the March 9, 2009 closing low at 676 (there was an intraday low of 666 on March 6).
Over 500 bank failures marked the era fueled by these events, and more than 6 million lost their homes.
And no one went to jail.
Nothing good will come of ending the filibuster, either, not with the country this divided.
Although the filibuster is not in the constitution, the senate filibuster rule was as old as the constitution, and it acts like the veto power of the president which is in the constitution, except it is the senate's veto over the house so to speak.
It helps keep things bipartisan, and often slows down things which haven't been thought through enough. Obviously it hasn't been foolproof.
It doesn't occur to these people that Republicans would retaliate in kind when they regain control of both chambers of Congress, passing their biggest ideas on simple majorities.
Retiring Senator Joe Manchin said ending the filibuster would turn the Senate into "the House on steroids," which is exactly right.
Retiring Senator Kyrsten Sinema said Republicans would use the new power "to ban all abortion nationwide", which is unlikely but possible.
But still Kamala persists, because she's not too bright.
Gold prices surged to a record high on Tuesday as a cocktail of factors, from hopes of further U.S. rate cuts and China stimulus measures to elevated Middle East tensions, lifted demand.
Spot gold steadied at $2,625.25 per ounce after hitting a record high of $2,639.95 earlier in the day.
U.S. gold futures were flat at $2,651.30.
More.
One year ago gold was ~$1,825.
And updated 39 minutes ago lol:
Spot gold was up 1.1% to $2,656.38 per ounce after earlier hitting a record of $2,654.96. U.S. gold futures gained 1% to $2,680.00.
As many police departments are still in the process of complying with the FBI’s new reporting requirements, experts predict that the national crime data is likely to be incomplete for years to come, and will leave more room to politicize crime statistics without concrete evidence. These issues are likely to become more urgent as the country moves closer to another election cycle where crime is certain to be a potent issue: In 2024, the FBI is likely to release its national crime data just before the election.
More.
And . . . right on cue:
But who is running the show right now?
And why is no one . . . alarmed?
The worry is not that Biden will say something overly candid, or say something he didn’t mean to say, but that he will communicate through his appearance that he is not really there. ...
Biden instead was cocooned within mounting layers of bureaucracy, spoken for more than he was speaking or spoken to. ...
the traveling protective pool — the rotating group of reporters, run by the White House Correspondents’ Association ...
In April . . . My
heart stopped as I extended my hand to greet the president. I tried to
make eye contact, but it was like his eyes, though open, were not on.
His face had a waxy quality.
-- Olivia Nuzzi, "The Conspiracy of Silence to Protect Joe Biden", New York, July 4, 2024
https://nymag.com/intelligencer/article/conspiracy-of-silence-to-protect-joe-biden.html
https://archive.ph/z0ULo#selection-1637.80-1637.190