It's a casino, and the table is rigged.
Friday, June 17, 2022
If the Fed can break the economy, it's not a capitalist economy
It's a casino, and the table is rigged.
Thursday, June 16, 2022
Every damn time: Man armed with "A Glock 17 pistol, two magazines, pepper spray, zip ties, a hammer, screwdriver, nail punch, crowbar, pistol light and duct tape" indicted for attempted murder of Kavanaugh "was on doctor-prescribed medication"
He was arrested "without incident" after allegedly calling authorities to tell them he was suicidal and wanted to kill Kavanaugh, police have said. ... During an appearance in U.S. District Court later on June 8, Roske told Judge Timothy Sullivan that he thought he had a "reasonable understanding" of the attempted murder charge, though he told the court he wasn't thinking clearly and was on doctor-prescribed medication.
More.
Seems like he was thinking pretty clearly based on what he decided to bring to the show.
No word in the story if he brought extra socks and a change of underwear.
Perverse anti-capitalist AP Obama says inflation had been under control since the early 1980s, blames inflation now on "robust recovery from the pandemic"
You can't make this shit up.
AP Obama, here:
Inflation in the United States, which had been under control since the early 1980s, resurged with a vengeance just over a year ago, largely a consequence of the economy’s unexpectedly robust recovery from the pandemic recession. The rebound caught businesses by surprise and led to shortages, delayed shipments — and higher prices.
Inflation averaged 4.75% 1981-1990 inclusive. You can't call that "under control". The FedFunds rate averaged 9.4% over that same period. The one halved your nest egg in about 15 years while the other halved what was left in 7.5.
If that's success I'd hate to see failure.
While the Fed fiddles around with interest rates as if they controlled anything, oh look! over there! a deer!, it has presided over an orgy of balance sheet expansion of $7.7 trillion since 2008 as the Treasury has flooded the economy with $1.5 trillion in new currency and the Congress of idiots has spent us blind with $15.75 trillion beyond the 2008 baseline ballooning the total debt to $30 trillion by the end of 2021 so that it's three times the size that it was just 14 years ago.
An economy which runs only on going deep into debt is not a capitalist economy.
It's a Chinese communist economy.
Today's inflation-adjusted price of gasoline from 1918 is $4.84, but we're averaging record prices well north of $5.00
Calculator here:
We estimate it would take $4.84 on June 16, 2022 to have equal purchasing power with $0.25 on June 16, 1918.
For the 1918 price, see here.
You can see from this chart that the price of gasoline in 1918 was indeed about $0.25. Wholesale prices averaged about 20.6 cents in 1918.
As of three days ago the official government average actual price at 900 retail outlets was $5.107.
GasBuddy has the USA average at about $5.03 this morning.
Wednesday, June 15, 2022
Sometimes the UK Daily Mail can screw up a story as badly as The Grauniad, but Drudge is even worse
"Converted to non-condensing by 2029" is definitely NOT what the story says. Quite the opposite.
And Drudge's headline is also false:
Biden plans for all to pay $350 to upgrade to 'energy efficient' furnaces...
$350 is how much more the more efficient condensing furnaces cost. You just won't be able to buy the old non-condensing variety after 2029.
The Biden rule isn't going to force anyone to pay anything unless they elect to buy a new furnace after 2029, in which case you'll be able to get only the more expensive, more efficient type.
I bought one way back in 2008, with a DC motor for the blower which is where the real savings come from: On the electricity used to move the heated air.
Too bad the story never mentions it.
Stonks laugh again after Powell's miserable 75 basis point hike to fight inflation
The rate is now 1.52% vs. CPI up 8.5% year over year and the all commodities Producer Price Index up 21.5% year over year.
This isn't being tough.
It's a joke perpetrated on an ignorant public like all the other jokes of our time, like George Floyd, Caitlin Jenner, and Jan 6.
The investing world's experts, let alone all the sheeple who follow them, don't have a CLUE how bad this market has been since August 2000
The TOP, do you hear me, was in already last November.
As of May 2022 real return has pulled back all the way to 4.14%.
We truly live in a new period of suck.
Tuesday, June 14, 2022
You are being lied to: CDC data shows firearm homicides among children ages 1-17 are down 28% 1999-2020 vs. 1981-1998
For the 22 years 1999-2020 (8,030 days) firearm homicides among children ages 1-17 totaled 19,306 or 2.404/day.
For the 18 years 1981-1998 (6,570 days) firearm homicides among children ages 1-17 totaled 21,919 or 3.336/day.
The per day rate has declined 28%.
Data here.
Monday, June 13, 2022
LOL, phony green Barack Obama is a prepper, installs 2,500 gallon propane tank for 6,900 square foot Martha's Vineyard estate, five times the typical size
Martha's Vineyard Times reports here:
The select board approved a request for a 2,500-gallon commercial propane tank for 79 Turkeyland Cove Road in Katama — owned by former President Barack Obama and First Lady Michelle Obama. “We’ve never had a private propane tank come to us,” said select board member Arthur Smadbeck, with select board member Michael Donaroma noting a private-residence propane tank is typically a fraction of the quantity being requested.
500 gallon tanks "provide adequate fuel needs for whole-home or business heating for structures up to 4,500 square feet."
Sunday, June 12, 2022
LOL, the blog of the St. Louis Fed gaslights you on gasoline prices by jumping through hoops to make the current outrageous prices disappear
While nominal gas prices have increased rapidly over the past few months, real gas prices were still lower than they were for most of the 2006-2014 period.
More in "Gaslighting gas prices", April 21, 2022.
They don't pay those economists the big bucks for nothing:
[W]e compute by dividing the nominal price by the consumer price index (CPI) and multiplying by 127.5, the value of the CPI in January 1990.
Talk about gaslighting.
Look, US Regular All Formulations (GASREGW), which is what the blog post used, peaked around the 4th of July in 2008 around $4.11/gallon.
Here's what a popular inflation calculator says about that:
We estimate it would take $5.54 on June 12, 2022 to have equal purchasing power with $4.11 on July 4, 2008.
Just using a simple CPI calculator here puts $4.11 in 2008 at $4.94 . . . already IN 2020.
We are mostly certainly paying the highest prices ever for gasoline.
Be happy, right? At least we're not Hong Kong.
Friday, June 10, 2022
Matthew Dowd still works hard every day to prove that he's the dumbest man alive
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| https://www.econlib.org/archives/2015/01/are_german_scho.html |
Nancy Pelosi's husband, Paul Pelosi, has a court date August 3rd, when charges, if any, will be filed and he will be arraigned
AP Obama reports here:
Pelosi agreed to a court date of Aug. 3, 2022 in Napa County Superior Court, according to the Napa County district attorney news release. If charges are filed, he will be arraigned then.
Thursday, June 9, 2022
CDC watchers are abuzz trying to explain away data showing coronavirus cases are higher among the boosted than the merely double-jabbed
Remember when there weren't supposed to be ANY cases among the vaccinated?
Rachel Madcow, 3/29/21:
now we know that the vaccines work well enough that the virus stops with every vaccinated person.
These people still haven't owned up to that fact, nor to their responsibility for the continuing spread of the disease.
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