Josh Brown thinks you're an Unreachable if you think staging a week long funeral to bash the president is in bad taste

Here, where he amusingly warns about joining a tribe, a tribe! without even realizing it:

Ask yourself whether or not you [yes, YOU] might be an Unreachable in some regard. Are there some beliefs you’ve taken on because they’re of use to you in some social setting or circumstance – beliefs that may not be completely grounded in fact? Are you, in your own way, an Unreachable in the eyes of someone else? Have you affiliated with a tribe of your own, whether out of convenience or for professional purposes, without even having realized it?

The word 'worker' has been surrounded by a halo since 1848

"The working class does not exist in the economic structure of a single nation. ... What have miners, sailors, tailors' apprentices, metalworkers, waiters, bank officials, ploughmen, and scavengers in common with one another?"

-- Oswald Spengler

Like just about everyone else on the left, Joel Kotkin continues to twist himself in pretzels to avoid calling our system what it already is

State capitalism.

It is the socialism of the right, despite what names people may give it. The fascist model in which business and government cooperate now more, now less was not defeated in World War II. The superior American version simply defeated the German one, and eventually also the left's inherently weaker version in Russia.

It has triumphed globally, brought to the fore in America by the libertarian resurgence under Ronald Reagan, imitated by the jealous Euro project, and notably exported to China, where it was eagerly embraced as no threat to Marxism. To the genuine Marxist, remember, free-trade is welcome because it hastens the global revolution. Belt and Road participants, take note.

The experiential groundwork for global state capitalism was laid long ago by the King and Bank of England in their joint enterprise known as the Thirteen Colonies. Everyone imitates this now in principle if not always in particulars. But everywhere it flourishes it is facilitated by the same thing, the central banking systems which coordinate their activities through rules administered under Basel III. The contemporary exemplars of state capitalism fancy that they are substantively a world away from Hitler's Germany, because, well, the Jews. We don't kill Jews, insist these experts at mass abortion and Uyghur mass re-education. 

It's the historical resonances which bother the left in using the phrase, but the underlying facts aren't different in substance. Materialism today means not having to say you're sorry for treating people like depreciated or unappreciated assets. Older workers in the West are routinely tossed aside for being too costly. Potential younger competitors are hamstrung by a culture of costly credentialing prerequisites. When such people become worthless enough, it isn't unlikely that in some places they could stop being considered people altogether (typically where atheism reigns) so that they could be slaughtered wholesale with the same relative efficiency already applied to the unborn. The tech already exists to do this. The only question is when will the people exist who are possessed of enough nerve.   

Here's Kotkin on this so-called "new, innovative approach" which looks like nothing so much as the old Soviet Union, with its hostility centered on the middle class, its dreary blocks of drab apartment buildings, the dim pall of surveillance and conformity lurking everywhere, complete with its own privileged new class in service to the party .01 percent:

Oligarchal socialism allows for the current, ever-growing concentration of wealth and power in a few hands — notably tech and financial moguls — while seeking ways to ameliorate the reality of growing poverty, slowing social mobility and indebtedness. This will be achieved not by breaking up or targeting the oligarchs, which they would fight to the bitter end, but through the massive increase in state taxpayer support. ... [T]he tech oligarchy — the people who run the five most capitalized firms on Wall Street — have [sic] a far less egalitarian vision. ... [T]hey see government spending as a means of keeping the populist pitchforks away. ... Handouts, including housing subsidies, could guarantee for the next generation a future not of owned houses, but rented small, modest apartments. ...  They appeal to progressives by advocating politically correct views . . .. Faced with limited future prospects, more millennials already prefer socialism to capitalism and generally renounce constitutionally sanctioned free speech . . .. [I]ncreased income guarantees, nationalized health care, housing subsidies, rent control and free education could also help firms maintain a gig-oriented [slave] economy since these employers do not provide the basic benefits often offered by more traditional “evil” corporations . . ..  [T]he oligarchy, representing basically the top .01 percent of the population, are primarily interested not in lower taxes but in protecting their market shares and capital. ... The losers here will be our once-protean middle class. Unlike the owners of corporations in the past, oligarchs have no interest in their workers become homeowners or moving up the class ladder. Their agenda instead is forever-denser, super-expensive rental housing for their primarily young, and often short-term, employees. ... The tech moguls get to remain wealthy beyond the most extreme dreams of avarice, while their allies in progressive circles and the media, which they increasingly own, continue to hector everyone else about giving up their own aspirations. All the middle and upwardly mobile working class gets is the right to pay ever more taxes, while they watch many of their children devolve into serfs, dependent on alms and subsidies for their survival.

Grand Rapids, Michigan, Climate Update for August 2018

Grand Rapids, Michigan, Climate Update for August 2018

Max temp 91, Mean Max temp 92

Min temp 52, Mean Min temp 47

Av temp 73.5, Mean Av temp 70.2

Av temp to date 51.5, Mean Av temp to date 49.6 (actual is elevated 3.8%)

Precip 6.61, Mean precip 3.07

Total precip to date 28.11, Mean total precip to date 22.77 (actual ahead by 23%)

Cooling Degree Days 271, Mean CDD 189, Season to date 848, Mean Season to date 614

The cooling season to date as measured by CDD is now 38% warmer than the mean, up just a little from last month.

To stay cool, I've averaged 1074 kWh a month in June, July and August running the air conditioning versus 701 a month on average in the previous eight months, 53% more but for only three months. Every kWh above 600 in the summer months is billed at a rate almost 35% higher than for the first 600, but it really doesn't amount to much of a penalty. In August, for example, the kWh above 600 cost me a penalty surcharge of less than $15.00.

Overall, the price of staying cool in my case (74 degrees F) means operating anyway in the higher rate category. Even without running the AC I'm in it because I average 701 a month, 101 a month more than the arbitrary 600 ceiling. I'd pay the higher rate like it or not simply by running floor fans and ceiling fans. Running the toaster in summer makes breakfast slightly more expensive. This summer the extra 1119 kWh I've used above my non-summer average, due mostly to running the AC, have run me a relatively low additional $142.49 total, or $47.50 a month, all paid at the penalty rate.

A small price to pay to sleep well and remain fully functional, productive and healthy under somewhat less than ideal conditions in the summer of 2018.  

As long as South Africa legalizes theft of farm land owned by whites, the IMF and the UK's Theresa May are all for it

Reuters reports here.

South Africa was ruled by Britain for a hundred years between 1806 and 1910. White Europeans swelled population through immigration, peaking above 5 million in the mid 1990s. They carved civilization out of a savage environment, for which they get no thanks now because savagery is all the fashion again.

Legalized theft takes different forms in different places at different times, for example through government exercise of eminent domain, or through imposition of an income tax.

In South Africa the plan is to take without compensation, but perhaps with murder thrown in for good measure if Julius Malema gets his way. 

Historian Bradley Birzer of Hillsdale College appears not to know much about Western history

In "Immigration and Citizenship: Ancient Lessons for the American People", E. Christian Kopff marshals at least six arguments from history which show that Birzer's belief that “the best of our ancestors believed in the free movement of peoples” is a canard.

You should read it, here. 

China's Belt and Road initiative involves some partners in debt distress

China's 'Silk Road' project runs into debt jam:

China's massive and expanding "Belt and Road" trade infrastructure project is running into speed bumps as some countries begin to grumble about being buried under Chinese debt. First announced in 2013 by President Xi Jinping, the initiative also known as the "new Silk Road" envisions the construction of railways, roads and ports across the globe, with Beijing providing billions of dollars in loans to many countries.

Bill Clinton legitimizes Disco Louie at Aretha Franklin funeral

The CNN fake news Laugh of the Day

Tucker Carlson says there's nothing free about this market, falls short of calling it an expression of global fascism

But who knows, maybe his forthcoming book connects the dots between the multinational corporations and their revolving door governments, and the central banking system which mediates the operation.

Here:

TUCKER CARLSON, FOX NEWS: 

Jeff Bezos, the founder of Amazon, is worth about $150 billion. That’s enough to make him the richest man in the world, by far, and possibly the richest person in human history. It’s certainly enough to pay his employees well. But he doesn’t. A huge number of Amazon workers are so poorly paid, they qualify for federal welfare benefits. According to data from the nonprofit group New Food Economy, nearly one in three Amazon employees in Arizona, for example, was on food stamps last year. Jeff Bezos isn’t paying his workers enough to eat, so you made up the difference with your tax dollars. Next time you see Bezos, make sure he says thank you.

Same with the Waltons. The Walton family founded Walmart. Collectively they’re worth about $175 billion. That’s more than the entire gross domestic product of Qatar, the oil-rich Gulf state. The Waltons could certainly afford to be generous with their workers. Instead, they count on you to take up the slack. In 2013, taxpayers sent more than $6 billion to Walmart’s workers, for food stamps, Medicaid, and housing assistance.

And if you think that’s shocking, meet Travis Kalanick. He’s the youthful founder of Uber. His personal fortune is close to $5 billion. His drivers, by contrast, often make less than minimum wage. One recent study showed that many Uber drivers lose money working for the company. That’s not a sustainable business model. The only reason it continues is because of your generosity. Because you’re paying the welfare benefits for Uber’s impoverished drivers, child billionaires like Travis get to keep buying bigger houses and more airplanes. He’s someone else who definitely owes you a thank you note.

If you can think of a less fair system than that, send us an email. We’d love to hear it. It’s indefensible. Yet almost nobody ever complains about it. How come? Conservatives, like us, support the free market, and for good reason. Free markets work. But there’s nothing free about this market. A lot of these companies operate as monopolies. They hate markets. They use government regulation to crush competition. There’s nothing conservative about that, just as there’s nothing conservative about most big corporations. Just the opposite. They’re the backbone of the left. Pick a leftwing cause that you think is hurting the country. Check the donor list, and you’ll find the name of some corporation. Often many corporations. Corporate America enables the progressive lunacy you see every night on this show. They’re funding the revolution now in progress.

That’s why liberals say nothing as oligarchs amass billions by soaking the middle class. Because they’ve been paid off. For example, you probably assumed the people who founded Walmart were conservative. Most of their customers certainly are. Yet the bulk of the Walton family backed Hillary Clinton in the last election. They gave the Democratic Party more than $700,000 during the 2016 cycle. Almost every billionaire in Silicon Valley did the same. In return, they got immunity from criticism, and you got to keep paying their employees. Not a bad deal for them.

There is one person in Washington who’s offended by this arrangement, and we’re sorry to say he’s wrong on pretty much everything else. But this is a weird moment, so you take allies where you can find them. Bernie Sanders, of all people, is trying to get your money back from Jeff Bezos. This is especially amazing since Bezos is on Bernie’s side on most things. They’re both leftwing activists. But on this question, Bernie’s right. He’s planning legislation that would force big corporations to return the taxpayer-funded welfare benefits you’ve paid to their workers. It’s not a perfect solution, and it probably won’t pass. No matter what they claim in public, liberals in Congress would never support something like that. Their loyalty isn’t to you. It’s to Uber and Jeff Bezos. But at the very least it might awaken a sleepy population to the new reality of activist corporate America. And that’s a good thing.

America has changed enormously in the last 20 years. A lot of people you thought were your allies are in fact working against your interests. They have contempt for you and your family, your customs and your faith. Included in this group, I’m sorry to say, are a lot of big corporations. They have no use for you or the country you grew up in. Stand in their way, and they’ll crush you. It’s all shocking enough that I recently wrote a book about it. It’s called “Ship of Fools,” and it explains what happened and who did it. The book is out in a month, the first week of October, but you can preorder a copy now, and I hope you will.

Andrew Yarrow: Over 20 million men are not employed, five times the official 4 million

Excerpted from his book Man Out, here:

We’re left with the reality that the percentage of men not employed today is about three times what it was during the Truman and Eisenhower eras: well over 20 million men. Not the four million officially deemed to be unemployed.

The unemployment level for men averaged 4.18 million in 2016 and 3.73 million in 2017.

Noah Smith embraces the Trump narrative: "There’s no doubt that the U.S. economy is in a boom"

Here for Bloomberg.

After examining several indicators, which, however, are not unequivocal for their interpretation despite saying "no doubt", Noah Smith comes down on the side of improved sentiment as the cause of the current "boom".

On that we agree. There's a boom in sentiment.

The problem is, too many people are importing that improved sentiment into their reading of the data, and into their choice of the data.

For example, Smith focuses on job openings to unemployed, which is a tiny measure (6.66 million in June) of what's really going on in the labor market. But the broadest measures of unemployment still show 15.9 million unemployed, underemployed, and no longer counted in the labor force. There is still huge slack in the labor market, which is one reason why wages for the vast majority of workers are not rising like they would in a real economic boom (2.7% y/y in July vs. in the 4s in 2006/7).

Similarly Smith discusses the percent of population employed aged 25-54, but clearly misses that it's most definitely not "back to 2006 levels" as he claims (H1 2018 is at 79.2%, still below the 2006 average of 79.8% and also below the average of either half of 2006). The broadest measure of the percent employed, on the other hand, still shows a huge gap between now and the pre-Great Recession average when over 6 million more were employed than are at present (60.5% now vs. 62.9% then, on average).

The case is similar with domestic investment.

Smith chooses to highlight "Shares of gross domestic product: Gross private domestic investment: Fixed investment: Nonresidential (A008RE1Q156NBEA)" to show that "investment as a percentage of the economy is at about the level of the mid-2000s boom". But the current level in H1 2018 at 13.7% is also identical to H2 2014. Was that indicative of a boom? Did we blink and miss it? How about in H1 2008 when it was again at 13.7%? Was that indicative of a boom? If so, why did the economy then promptly crash in H2 2008?

A broader measure of domestic investment, however, "Shares of gross domestic product: Gross private domestic investment (A006RE1Q156NBEA)", shows us well off the 2006 peak and even the more recent 2015 level. Whatever we call what we have right now, the current 17.7% is still far below the 19.8% level of H1 2006, which itself failed to equal the boom level of the year 2000 (19.9%).

With all that cash unleashed by the tax reforms and sloshing around in the economy, one would think things would look a lot better than this, which simply shows that most of that money indeed went elsewhere.

GDP has been temporarily goosed by the tax reforms in concert with a fresh gusher of federal deficit spending. But those are one-offs. They will not, and cannot, be repeated over and over again in short succession.

We know what comes next.

We're missing 6.2 million jobs in July 2018 because only 60.5% are working

Democrats want you to know House candidate Abigail Spanberger was just monkeying around teaching at an Islamic school in DC

Democratic House candidate Abigail Spanberger suffers the kind of election year smear John McCain would recognize [thanks to a Postal Service error divulging the information]:

The Republican firm says it got the form by mistake from the Postal Service, where Spanberger once worked as a postal inspector. The Postal Service on Thursday apologized for its "human error."

That doesn't explain how a mistake of that magnitude occurred so rapidly. Spanberger requested her own personnel records months ago and hasn't received them. ...

Outraged Democrats, fearing other candidates remain at risk, have demanded a federal investigation. Without elaboration, the Postal Service says "a small number of additional requests for information from personnel files were improperly processed."

Ah, you can't get your own mail but somebody else can! The incompetent big government wanted by most Democrats, and too many Republicans, just keeps on giving.

Hm, the famous Chuck Berry wrote and recorded his fifth single "Too Much Monkey Business" in 1956

"Too Much Monkey Business" is a song written and recorded by Chuck Berry, released by Chess Records in September 1956 as his fifth single. It was also released as the third track on his first solo LP, After School Session, in May 1957; and as an EP. The single reached number four on Billboard magazine's Most Played In Juke Boxes chart, number 11 on the Most Played by Jockeys chart and number seven on the Top Sellers in Stores chart in 1956. -- Wikipedia

Listen to it here.

It's not an economic beum, you fools

At the end of 2017 we still had 14 million more on food stamps than at the pre-Great Recession average

16.5% of the U.S. population was on food stamps on average in 2017, versus 11% on average from 1973-2008.

In 2017 over 42 million received food help from the program, but only 28 million would have had the average receiving help returned to 11%.

In the first five months of 2018 the percentage receiving help has fallen to 15.4% on average, implying a smaller gap of about 11.6 million.

The trend is in the right direction, but we are hardly back to normal.

Hey Hey They're The Monkeys: Democrats say they monkey around

In death John McCain remains the jerk he was in life: Sarah Palin, his running mate in 2008, excluded from his funeral

Reported here.

Hopeless Arizonans choose another immigration squish, A-10 pilot Martha McSally, to run for resigning Flake's US Senate seat

Republican McSally (AZ-2), who could be a man masquerading as a woman for all we know and appears to have been flying solo since the annulment of her marriage in 1999, faces openly bisexual Democrat Kyrsten Sinema (AZ-9) for the Senate seat in November.

As in many other states, independents may vote in Republican Party primaries in Arizona.