Phony boom narrative under Trump continues under Biden, only the lie is much bigger

 Factory Jobs Booming Like It's 1970s...

Well, it's the lying New York Times, of course, and drive-by repeater, Drudge.

The summer peak in 2019 was 12.905 million.

The summer peak in 2022 was 12.916 million, up . . . eleven thousand! Woo hoo!

Meanwhile in the 1970s, many MILLIONS more worked in manufacturing in the United States, and many millions more as a share of the population:

11.8% of the population in 1979 on average vs. just 4.9% in August 2022!

From the end of the story, lol:

Eight percent of the surveyed companies reported moving segments of their supply chain out of China to the United States in the past year, while another 16 percent had moved some operations to other countries. But 78 percent of the companies said they had not shifted any business away from China.

 

 

Mike Lee is such a phony, advocating for a clean continuing resolution instead of a last minute omnibus, as if there's much of a difference

 Mike hopes you never hear of regular order again.

Here.

Last guy to mention it I think was Paul Ryan in 2015:

"We need to let every member contribute, not once they earn their stripes, but now," he said. "The committees should take the lead in drafting all major legislation: If you know the issue, you should write the bill. Let's open up the process." "In other words," he said, "we need to return to regular order."

Sorry NY Daily News, NYC criminal behavior remains an overwhelmingly black phenomenon

 

NYPD's Arrest Practices Are Still Starkly Discriminatory

Robert Gangi, NY Daily News

 

Crime and Enforcement Activity
in New York City
(Jan 1 – Dec 31, 2021

Get ready to be working zero hours per week, at least for money

 

Two conditions need to develop before buying bonds

. . . the trend in the bond market . . . still looks bearish. ...

As yields rise and inflation eases, the relative allure of bond payouts becomes attractive, in absolute and relative terms vs. other assets.

James Picerno, here. 

Yields are indeed rising, but prices are still falling, so no, not quite yet. Bond prices ought to stabilize when inflation finally eases, and so far prices haven't stabilized.

VWESX is instructive.

There's just a handful of years back in the 1980s where the average price of this very long term investment grade bond fund had been below $8 like the current price is today.

That's one reason why Jeffrey Gundlach rightly says that bonds are "wickedly cheap".

But VWESX only just got there on September 20th, hitting $7.99. We're down to $7.88 this weekend.

Meanwhile yields across this investment grade spectrum are bunched up in the fours, with only about 55 basis points difference between the shorts and longs, and intermediates effectively paying the same as or more than longs.

Prices on the longs need to fall a lot more before making them more attractive than intermediates if you are going to settle for only similar yield.

After all, the long term average return of investment grade longs is north of 7.5%, not in the fours.

But what the hell do I know?

Invest, or don't, at your own risk.

Adam Tooze: Central bankers' hands were forced in 2010, the poor dears, they aren't the lords of easy money, no, they're its slaves, just like us

 Here, for The New York Times:

If you are worried about wealth inequality in the United States, then the solution is not to tighten monetary policy but to make structural changes to the country’s financial system, starting with the undergrowth of shadow banking. Serious taxation of wealth and capital gains would also push in the right direction.

It would no doubt help if onetime central bankers, rather than cycling in and out of private finance, spoke out seriously in favor of reform. They would be doing the public a service if they spelled out the way that their hands were forced by the current incestuous intertwining of public debt markets with hedge funds and the like. Ultimately, however, it is politics that must grasp the nettle of change.

In the current dispensation, it may be flattering for central bankers to be cast as maestros, but in practice they are less the lords of easy money than its functionaries.     

 

 

Central bankers cycle in and out of private finance raking in millions, Adam.

 

If anyone were serious about restructuring the country's financial system, the place to start would be by restoring the key missing feature of capitalism without which it doesn't really exist. It's called bankruptcy. 

Bond yields should fall as stocks sell off, lol

 Yield on the US 1-year is beating everything with a club in 2022, up 920% year to date.

Hide your baby seals.

When interest rates effectively went to zero in 2009 and stayed there, no one could figure out where the inflation was going lol

 

LOL, after a three-year investigation the State of New York has bupkis on Trump, files civil suit

Story.

In the tradition of Republican-hater James Hodgkinson, Shannon Brandt of North Dakota runs down and kills an 18-year old Republican

 

LOL Al Gore flunked out of divinity school but still preaches a secular apocalypse which will never happen and isn't happening now

A country teeming with sectarian believers in eschatology of one kind or another groomed us for these idiots.

 

LOL The UK Mirror calls the Queen Prince Harry's great-grandmother

 Old Blighty ain't what she used to be.

Everything in the story is about as reliable, too.

 

Look out below: The 10-yr minus the 2-yr is now lower than at the Aug 2000 market top and 0.01 away from the Mar 2000 level of -0.47

 

You can always tell when there's a live idiot writing the headlines at Drudge instead of a bot combing WaPo, The New Republic, and CNN to shred the right

 The reptile Drudge shed his conservative skin long ago.

LOL Democrats flood the country with illegal aliens, blame Republicans for causing chaos!

 

How GOP Governors Are Using Migrants To Create Chaos

Nayyera Haq, MSNBC

LOL Bill Clinton, you mean like DCCC ads flooding YouTube claiming Republicans will take away your Social Security and Medicare?

 

Clinton: Republicans "Always Find Some New Way To Scare The Living Daylights Out Of Swing Voters About Something"

Joe Biden: Inflation is flat lol

Biden Says Inflation Is Flat, Economy Is Growing

Scott Pelley, 60 Minutes

 

It's March 2011 all over again, the Fed can't stop it

 

Biden repeats May statement committing US forces to the defense of Taiwan

 

Asked in a CBS 60 Minutes interview broadcast on Sunday whether U.S. forces would defend the democratically governed island claimed by China, he replied: “Yes, if in fact, there was an unprecedented attack.”

More.

Once again, it was the idiot liberal Republican George H. W. Bush who advanced the anti-capitalist Democrat global warming agenda

 . . . the Inflation Reduction Act was signed by President Biden earlier this summer. It had been thirty years and sixty-five days since President George H.W. Bush signed the United Nations Framework Convention on Climate Change in Rio de Janeiro.

Here.

George also spawned the redundant hate crime legislation, huge increases to LEGAL immigration, wheel-chair access at every intersection's crosswalk among other expensive accommodations for the ambulatory handicapped, who in 2016 are fewer than 7% of the population, an unchastened Saddam Hussein, and READ MY LIPS . . . NEW TAXES.

Oh yeah. He also literally spawned the guy who didn't keep America safe on 911 and gave us the expensive nation-building wars in Iraq and Afghanistan and the insidious Patriot Act, but don't get me started.

Everything BUSH has been terrible for America, which is saying a lot when everything Democrat always is anyway.