Saturday, May 24, 2025
The Trump Energy Department's Chris Wright saves 1,450 megawatts of electric generating capacity by stopping closure of Michigan coal plant operated by Consumers Energy
... The plant was originally set to close on May 31, which would have been 15 years before its lifespan was scheduled to end.
More.
The green lunatic running the Michigan Public Service Commission is furious. Common sense people from the area are no doubt relieved.
Friday, May 23, 2025
If ivermectin ever made a difference to COVID-19 outcomes in Africa, it sure didn't in Latin and South America
Wide distribution of ivermectin in Africa to combat river blindness does not appear to have had anything to do whatsoever with low death rates from COVID-19 in places like Angola (62 deaths per million of population), Kenya (120), and Nigeria (16).
It turns out that ivermectin was widely distributed in eight Latin and South American countries from June, August, and December 2020, but all of them had steeply higher death rates from the disease:
Peru 6,945
Brazil 3,396
Mexico 2,654
Panama 2,089
Bolivia 1,974
Guatemala 1,222
Honduras 1,165
El Salvador 652.
Exposure to fresh air and full spectrum sunlight with its infrared and ultraviolet radiation has been shown to speed recovery from the disease:
Secular real return from stocks since investing at the August 2000 high compared with investing at the September 1929 high, twenty-four years out
August 2000-August 2024 and September 1929-September 1953 both fall far short of 8.74% per annum real return September 1953-August 2000.
Real per annum return from January 1871-September 1929 was 8.34%.
The complaisance is amazing, we are the French
Yes mon ami, there are Muslim-controlled no-go zones in gay Paris, but what can we do? 🤷
Thursday, May 22, 2025
Paper tiger Donald Trump March 2018: I will never sign another bill like this again
He's signed them ever since lol. Nothing's changed.
Trump signs $1.3 trillion spending bill into law despite being ‘unhappy’ about it
... Trump slammed the rushed process to pass the more than 2,200-page bill released only Wednesday. Standing near the pile of documents, the president said he was “disappointed” in the legislation and would “never sign another bill like this again.” ...
House GOP votes for tax breaks for rich Democrats from Blue states like New York, New Jersey, and California lol
... Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s currently a $10,000 limit
on the SALT deduction, and raising that cap has been a priority for
certain House lawmakers in high-tax states like New York, New Jersey and
California. Filers must itemize deductions to claim the tax break for
SALT.
If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phases out over $500,000, according to revised language released by the House Rules Committee. The provision would go into effect in 2025. ...
“Any changes to lift the cap would primarily benefit higher earners,” Garrett Watson, director of policy analysis at the Tax Foundation, wrote in an analysis on Tuesday.
With an income phaseout over $400,000, the top 20% of taxpayers “would be the only group to meaningfully benefit,” Watson wrote. ...
So-called fiscal hawks of the House GOP totally cave and narrowly pass Trump's omnibus tax and spending bill 215-214: Massie of Kentucky and Davidson of Ohio were the sole Nay votes
The House Freedom Caucus is a joke, along with the rest of them: At least $20 trillion in new debt over ten years, increases the SALT cap for itemized deductions important in high tax Blue states, Green New Deal spending still in there, ratifies federal support for Medicaid's backdoor vehicle as insurance under Obamacare, etc.
The Chair of the House Freedom Caucus:
Wednesday, May 21, 2025
HHS Poverty Guidelines for 2025
The current average Social Security check is $1,999.97, minus $185 for the Medicare premium, equals $1,814.97 monthly, times 12 equals $21,779.64 annually.
Democrat US House math suffers another blow: Gerald E. Connolly (VA-11) succumbs to cancer at age 75
CNBC reported here.
House Democrats will now have three vacancies and a caucus of 212 vs. 220 for the GOP.
Representatives Turner (TX-18) and Grijalva (AZ-7) died in March.
Tuesday, May 20, 2025
Monday, May 19, 2025
The rotten apple doesn't fall far from the asshole tree
When you don't really believe the campaign's over and you won:
Sunday, May 18, 2025
Tulsi Gabbard has fired intelligence officials who concluded Venezuela wasn't directing gang activities in the United States
Another disappointing performance by Tulsi Gabbard.
Tulsi, former leftist, keeps proving she can turn with the wind with the best of them.
And I had such high hopes for her. 🤷
The chutzpah: Democrats literally pushed Biden out of office three months before the election and they want him to take the blame for losing to Trump
After covering for the guy from the beginning for his 2020 campaign conducted from a basement.
They have no one to blame but themselves.
Democrats want Biden to take responsibility for loss to Trump
... “He needs to stop talking about what could have happened and what should have happened and how the party betrayed him and start talking about how he ultimately betrayed the party,” said one Democratic strategist. “The reason we find ourselves in this position is because he was too stubborn to step aside.” ...
Eleven foods which made new all-time high average prices in April 2025
Round roast $7.616/lb
All roasts 7.995
Round steak 8.627
All steaks 11.12
Sirloin steak 12.326
Ground chuck 5.996
100% ground beef 5.801
All ground beef 6.142
Coffee 7.536
Sugar 1.021
Beer 1.827/pint
Friday, May 16, 2025
USA loses last AAA rating, from Moody's, perfectly timed for after GOP can't move a budget out of committee lol
Moody’s downgrades U.S. credit rating, citing rise in government debt
... Moody’s had been a holdout in keeping U.S. sovereign debt at the
highest credit rating possible, and brings the 116-year-old agency into
line with its rivals. Standard & Poor’s downgraded the U.S. to AA+
from AAA in August 2011, and Fitch Ratings also cut the U.S. rating to
AA+ from AAA, in August 2023.
“Successive U.S. administrations and Congress have failed to agree on
measures to reverse the trend of large annual fiscal deficits and
growing interest costs,” Moody’s analysts said in a statement. “We do
not believe that material multi-year reductions in mandatory spending
and deficits will result from current fiscal proposals under
consideration.” ...
“... we expect federal deficits to widen, reaching nearly 9% of GDP by 2035, up from 6.4% in 2024, driven mainly by increased interest payments on debt, rising entitlement spending and relatively low revenue generation,” Moody’s said. ″We anticipate that the federal debt burden will rise to about 134% of GDP by 2035, compared to 98% in 2024.″ ...
Moody’s officially rated U.S. bonds in 1993 for the first time, but had assigned a “country ceiling rating” of Aaa on the U.S. since 1949.
It's driving the Reuters writer of this story at CNBC crazy that US Treasury securities aren't selling off lol
... Holdings of U.S. Treasuries surged to $9.05 trillion in March, an
all-time peak and up more than $233 billion from $8.81 trillion in
February. Compared with a year earlier, Treasuries owned by foreigners
rose nearly 12%.
Some analysts said that trend could change in April as the Trump administration introduced a massive trade shock on April 2nd that saw effective tariff rates surge, particularly on Chinese goods.
That fueled a U.S. Treasuries sell-off that, at one point, pushed benchmark 10-year yields more than 70 basis points (bps) higher to nearly 4.6% over the April 3-11 period. The selloff may have included selling from foreign investors, analysts said.
Trump has since paused the imposition of tariffs for 90 days, and the Treasuries market has stabilized somewhat, although foreign investors are likely to have remained leery of U.S. assets. ...
Yeah, I don't think so.
10Y yield averaged 4.28 in April lol, unchanged from March lololol.
In December 2015 FBI Director James Comey assumed a firearm purchased over the internet would be shipped directly to your address instead of to an FFL holder, so yeah he might not know the worst meaning of 86
My dictionary doesn't have the worst meaning either.
Trump is overreacting.
The slavish respect for the consensus estimates for inflation and everything else vs. the actual levels viewed historically is as nutty as anything promoted in partisan politics
Consumer sentiment slides to second-lowest on record as inflation expectations jump after tariffs
... Recent inflation data has not shown a tariff bump, as both the consumer price index and producer price index for April came in below consensus estimates. ...
Who gives a damn about whether the consensus estimates got it right or not? What matters is what the damn rates are!
And the rates are much higher when compared with the immediate pre-pandemic rates.
Would those have come down in recent months without the spectre of a Trump tariff regime looming in the wings?
Well we'll never know, now will we?
It's all so infuriatingly stupid.
Meanwhile consumer sentiment and surveys of same don't hold much water with me.I conclude only one thing from them: that our tolerance for inflation has weakened dramatically. We were a much hardier people in the past, and now we are soft and melt like snowflakes at the slightest hint of bad news.
In November 1974 cpi inflation peaked at 12.2% year over year. The then Michigan survey of consumer sentiment plunged to 57.6 by February 1975.
But in April 2025 cpi inflation is only 2.3% year over year, and the Michigan survey has dropped to 50.8 from 52.2 in April.
It's comic.
Howard Gleckman of Urban-Brookings Tax Policy Center likes House GOP $4,000 senior citizen deduction better than Trump's elimination of taxes on Social Security benefits
How House GOP bill’s $4,000 senior ‘bonus’ compares to eliminating tax on Social Security benefits
... A median income retiree who brings in up to about $50,000 annually may see their taxes cut by a little less than $500 per year with this change, noted Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center.
“It’s not nothing, but it’s also not life changing,” Gleckman said.
The $4,000 senior “bonus” deduction would help lower-income people and would not help higher-income individuals who are above the phase outs, Gleckman said.
In contrast, the proposal to eliminate taxes on Social Security benefits would have been a “big windfall” for high-income taxpayers, he said.
“If you feel like you need to provide an extra benefit to retirees, this is clearly a better way to do it than the original Social Security proposal that Trump had,” Gleckman said. ...
Thursday, May 15, 2025
March core wholesale prices year over year were revised up in today's release for April, from 3.3% to 4%, and with April we now have eight consecutive months with increases above 3%
The average increase to date has been 3.58% year over year for eight months, 121% higher than the pre-pandemic average of 1.62%.
The funniest thing that's happening to Donald Trump right now is that while he tries to intimidate the Fed to reduce interest rates and they do nothing, yields are soaring all by themselves
The bond market is issuing a vote of no confidence in our elected leadership.
One branch of Republican government thinks this is the 19th century with a robust manufacturing base it needs to protect with crazy wild tariffs, and another branch of Republican government thinks it's just fine to go on spending like drunken sailors and not raise taxes to pay for any of it.
Interest payments alone on the national debt in fiscal year 2024 soared to $1.1 trillion against revenues of $4.9 trillion.
Meanwhile the most powerful military in the world can't stop a bunch of rag-headed heathen bastards from launching missiles at Israel.
These people are crackerdog.
US Treasury yields are now up a net 2.37% across the curve since last Friday.
Long duration is very unhappy:
10Y at 4.53 at the close yesterday,
20Y at 5.00,
30Y at 4.97.
VUSTX ytd total return: -0.53%.
We'll probably never know whether weak Russian invasion of Ukraine headlines like these at CNBC contributed to Trump's thinking that Ukraine started it
Shrinking from calling what Russia did an invasion was a temporary flight from reality for CNBC, probably motivated by keeping people from panicking and selling stocks.
It's all about the money, for Trump no less than for CNBC. And also for Vladimir Putin.
It should be about something else.
Wednesday, May 14, 2025
Nigel Farage's UK Reform Party won new majorities in ten regional councils across England in the May 1 elections, stunning Labour and the Conservatives
... The races were local. But Reform UK’s unprecedented surge has recast political trends nationwide, sparking panic in Britain’s two major parties while drawing comparisons to the rise of populist movements that have come to power in Europe and the United States.
Reform’s breakthrough included wins in two of four mayoral races the party contested, and the poaching of an open parliamentary seat previously held by the Labour Party. The Conservative Party fared far worse, losing control of 15 county councils and, with them, almost 700 councillors. In all, the two long-dominant parties lost about two-thirds of the 1,600 offices on the ballot, most of them to Reform UK.
“Both parties were wiped out in places where it would have been unimaginable before,” said Tony Travers, a professor of government at the London School of Economics. “This could mark a major shift in the electoral dynamic.” ...
More.
The rate of core cpi inflation is still running 55% ahead of the 2010-2020 average and liberal VOX wonders where is the inflation
Meanwhile you start turning on, and turning off, tariffs in February and expect to see massive, economy-turning evidence already in the April data?
Save it for the drive-thru.
Tuesday, May 13, 2025
The devastating truth about the end of US Houthi attacks is that US forces failed after spending more than $1 billion
The thread is here.
The limits of conventional power have been reached.
Putin has been experiencing the same in Ukraine and could have been defeated, too, had Trump not given him a lifeline with his stupid peace talks.
The future of Taiwan is in great peril.
Core cpi inflation, which excludes food and energy, came in at 2.8% year over year in April 2025, and so did food inflation
Core cpi inflation at 2.8% year over year is 55% higher than the average rate of 1.8% which prevailed 2010-2020.
 |
| core |
 |
| food |
House Republican Chip Roy (TX-21) says the current policy baseline tax assumption of Republican Senator Mike Crapo of Idaho is a load of crap
Chip Roy is right.
The expiring temporary tax cuts of Donald Trump had a cost in 2017, and if renewed they'll still have a cost, which is obvious to everyone with a brain except Mike Crapo and his supporters.
All the focus for Chip Roy is on reducing the spending side, instead of on increasing the revenue side, as is usual with the GOP budget hawks. They never really reduce spending, however, and the deficits get bigger as a result.
Meanwhile it's amusing to watch how today's Republicans are turning themselves into pretzels just to keep the temporary Trump tax code from expiring and reverting back to the Bush tax cuts, most of which were made permanent by John Boehner and Barack Obama.
Reverting would actually be smarter than what we are going to get, which will be more unaffordable tax cuts and bigger deficits and $50 trillion in debt by 2034.
Even Trump knows this, coming out as he did just a few days ago for . . . the Bush tax cuts.
He specifically recommended adding the old 39.6% additional compromise bracket for the rich agreed to by Boehner and Obama on January 2, 2013.
Trump is a redistributionist, after all. He said so just recently.
He knows he has to pay for what he wants to give away to people. And his idea is to soak the rich to pay for it, just like any good Democrat would do.
I say go ahead. Make my day.
 |
| The 2014 tax brackets, showing the added 39.6% bracket on high incomes |
Monday, May 12, 2025
No DOGE savings show up in April US Treasury Statement of Receipts and Outlays of the Federal Government, but higher deficits sure do, $194 billion higher year to date than last year
Fiscal 2025 deficit, October-April: $1.049 trillion
Fiscal 2024 deficit, October-April: $0.855 trillion
Increase in the deficit in 2025 Oct-Apr: $194 billion
Meanwhile CNBC blows smoke up your ass:
Trump's phony Liberation Day for working Americans evaporates into thin air, new 90-day pause brings 145% reciprocal tariffs on China, which tanked markets in early April, down to 30%
Stock futures surge. Crude oil surges. US Treasury yields surge.
... The trade agreement means that “reciprocal” tariffs between both countries will be cut from 125% to 10%. The U.S.′ 20% duties on Chinese imports relating to fentanyl will remain in place, meaning total tariffs on China stand at 30%. ...
Trump had imposed tariffs of up to 145% on Chinese imports, prompting Beijing to respond with retaliatory curbs of its own, including restrictions on some rare earth elements. ...
Sunday, May 11, 2025
Whatever else may be said about Rene Girard, he grasped the big problem even if he miscast it as capitalist, namely Chinamerica
“Everyone now knows that the looming conflict between the US and China, for example, has nothing to do with a ‘clash of civilisations’, despite what some might try to tell us. We always try to see differences where in fact there are none. In fact, the dispute is between two forms of capitalism that are becoming more and more similar,” Girard wrote.
Quoted here.
It's not two forms of capitalism. It's two forms of fascism.
America became its own enemy long before China did.
Girard defaulted to the priority of religion over economics beginning in 1959.
Saturday, May 10, 2025
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