Tuesday, October 3, 2023
Monday, October 2, 2023
Congressional Black Caucasians most hurt
The Congressional Black Caucus had urged Newsom to appoint Lee, saying she was the "only person with the courage, the vision, and the record to eradicate poverty, face down the fossil fuel industry, defend our democracy, and tirelessly advance the progressive agenda.
Sunday, October 1, 2023
Fox Business' broad inflation report contained an error
Here's Megan Henney, September 29th :
An inflation measure closely watched by the Federal Reserve ticked higher in August as steep prices continue to squeeze millions of U.S. households.
The personal consumption expenditures (PCE) index showed that consumer prices rose 0.4% from the previous month, according to the Labor Department. On an annual basis, prices climbed 3.5% — up from 3.3% recorded the previous month, underscoring the challenge of taming high inflation.
She's referring to PCEPI.
That measure isn't up from 3.3% the previous month. It's up from 3.4%, and 3.2% the month before that.
Jeff Cox at CNBC got it right, same day, as usual:
Including food and energy, headline PCE increased 0.4% on the month and 3.5% from a year ago. Headline inflation has been creeping higher in recent months after hitting 3.2% in June.
Forbes also had it right, because it actually checked the most recent data, which Fox evidently did not:
The most recent PCE price index data was released on September 29, 2023, covering the month of August. The
headline August PCE inflation figure was +3.5% year over year, which
was up slightly from the revised annual rate of +3.4% in July.
Three of 9 Target store closings are in progressive shit-hole Portland OR, CNN story gives them just 4 paragraphs at the end
Here.
Nobody wants to talk about the shit-hole progressives have made out of Portland, which first came to light nationally when the place erupted after the death of George Floyd.
The hallmark of progressive rule in Portland is that the justice system in their hands won't prosecute crimes, so the police are demoralized and now have interminable staffing problems. Who wants to arrest the same people over and over again knowing they'll just have to arrest them again over and over?
The murder rate in Portland is 1.85 times the US rate.
The robbery rate is 2.85 times the US rate.
The assault rate is 1.8 times.
The burglary rate: 2.56 times.
The theft rate: 2.7 times.
The motor vehicle theft rate is 5.3 times the US rate.
There are nearly 11 times the crimes per square mile overall in Portland than the national median.
Saturday, September 30, 2023
US House passes 45-day government funding bill 335-91 minus Ukraine aid
The House measure would fund government at current 2023 levels for 45 days, through Nov. 17, setting up another potential crisis if they fail to more fully fund government by then. The package was approved by the House 335-91, with most Republicans and almost all Democrats supporting.
More.
Friday night news dump: IRS contractor Charles Littlejohn, 38, charged with leaking tax records in New York Times and ProPublica incidents in 2018 and 2020
Littlejohn, 38, provided the public official’s tax documents to an unnamed news organization, and the tax information concerning other wealthy individuals to another unidentified news organization between 2018 and 2020, prosecutors said.
In 2020, The New York Times released a bombshell report saying that it had obtained more than two decades of Trump’s tax information and that he had paid only $750 in federal income taxes in 2016 and 2017.
More.
The story has already been scrubbed from the lineup by the weekend kids crew at CNBC.
Friday, September 29, 2023
42 million in the United States have forms of sexually transmitted human papillomavirus which can cause disease
More than 42 million Americans are infected with types of HPV that cause disease. ... Most HPV infections (9 out of 10) go away by themselves within 2 years. But sometimes, HPV infections will last longer and can cause some cancers.
About 70% of cancers in the oropharynx (which includes the tonsils, soft palate, and base of the tongue) are linked to human papillomavirus (HPV), a common sexually transmitted virus.
The three year and five month embarrassment of core inflation higher than the 10-year Treasury yield finally ended in August
Yield for the 10-year US Treasury rose to an average 4.17% in August 2023 while core inflation year over year fell to 3.87% in August 2023.
This ends the 3-year 5-month run where core inflation exceeded the 10-year yield, something which has never happened in the data.
The only time core inflation outran the 10-year previously for a comparable period was in 1974 and 1975 when core inflation averaged 7.91% and 8.35% vs. the 10-year yield which averaged 7.56% and 7.99% respectively.
That lackadaisical response to inflation by the Federal Reserve under Arthur F. Burns (1970-1978) prefigured the 1980 resurgence of core inflation to 9.19%. Under his successor Paul Volcker, interest rates were hiked to unprecedented levels to curb inflation. The 10-year yield rose to an average of 13.92% in 1981 as a result.
The current fear is that the Powell Fed has set up the economy for a repeat of this awful period of inflation.
Whatever is said about it, there is no question that inflation is a benefit to the Federal government because it depends on borrowing to finance deficit spending and consequently the debt, now at an unprecedented $33 trillion. Inflation simply reduces that cost to the government over time by making the dollars previously borrowed worth less.
It is true that new borrowing costs much more, but the debt mountain mammoth in the living room is the more pressing problem. This is why the cognoscenti teach that inflation is a good thing.
Extending the duration of inflation at the currently relatively low level has been in the government's interest. The costs born by the public in the form of higher prices for goods, services, and borrowing are becoming routinized so that the voters are becoming inured to the deleterious effects for them while clueless of the benefits for the debt mongers.
This is particularly the case for voters who have no memory of that horrible inflation which gave rise to the backlash represented by Ronald Reagan's election in 1980, and who now vastly outnumber those who still remember.
It should not be forgotten that Jimmy Carter got elected in 1976 anyway, after the Burns' inflation. The voters then took it all in stride, too, until they didn't.
Same as it ever was.
Thursday, September 28, 2023
Democrats betray liberalism, become the new authoritarians
Carl M. Cannon, here:
But the most glaring gap is between conservatives and liberals, i.e., between Republicans and Democrats. On the issue of free expression, at least, Republicans are not the authoritarian party. That distinction belongs to the Democrats, the party launched by Thomas Jefferson — the Founding Father who famously said that if he were forced to choose between “a government without newspapers or newspapers without a government, I should not hesitate a moment to prefer the latter.” ...
If Republicans’ aversion to censorship was transactional, they would have identified Democratic-friendly misinformation for removal. But they didn’t. “Regardless of the partisan slant of the content, Democrats are more likely to support the removal of content, while Republicans are more likely to oppose removing content,” the study noted.
It was Democrats who more often employed situational ethics, giving a pass to misinformation that helped their side. Most Republicans didn’t differentiate based on which way the false headline cut.
Wednesday, September 27, 2023
I've wanted Trump to just go away since about January 2019, Newt Gingrich since about 2012
Because it's all "just words", as Barack Obama once said.
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