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| Wei Tu Lo |
Friday, May 2, 2025
Trump's word is meaningless: Mike Waltz goes from secure job as National Security Advisor to UN Ambassador in a matter of just a few days
Something Elise Stefanik also knows only too well lol.
Trump national security advisor Mike Waltz leaving post after Signal scandal
... Trump earlier this week told The Atlantic that Waltz’s job was secure. ...
Asked if Hegseth would stay in the administration longer than Waltz, Trump replied, “Waltz is fine. I mean, he’s here. He just left this office. He’s fine. He was beat up also.” ...
Once again, Trump is wrong because the executive does not possess the line-item veto
This is simply another example of executive branch overreach.
Funding for NPR and PBS, with which I disagree, is lawful. It has been passed by Congress and signed into law by the executive.
This executive can't simply come along and exercise a veto after that fact.
Rule by executive order is not republicanism.
We are either a nation of laws or we are not.
Trump is the enemy of the America I once knew.
Thursday, May 1, 2025
Resolution by Senators Ron Wyden and Rand Paul to scrap Trump's craziest tariffs fails 49-49
Senate resolution to scrap Trump’s ‘Liberation Day’ tariffs fails despite some GOP support
A Senate vote to scrap President Trump’s wide-ranging “Liberation Day” tariffs narrowly failed on Wednesday, sparing Republicans a second consecutive blow as the president’s trade policy continues to face opposition.
Three Republicans — Sens. Susan Collins (Maine), Lisa Murkowski (Alaska) and Rand Paul (Ky.) — voted in favor of the resolution alongside every present Senate Democrat.
But Democrats ran into attendance problems. Sen. Sheldon Whitehouse (D-R.I.) was absent, along with Sen. Mitch McConnell (R-Ky.), who had voted in favor of a similar bill reversing tariffs on Canada earlier this month.
The final tally was 49-49.
McConnell and Whitehouse had both missed the two votes earlier in the day. One Senate GOP member told The Hill that McConnell was sick and unable to vote. ...
Since 2007 nominal GDP has been growing at a compound annual rate nearly 40% worse than the rate which prevailed from 1947 to 2007
1Q1947-1Q2007: 7.01%
1Q2007-1Q2025: 4.23%
Wednesday, April 30, 2025
Core pce inflation numbers were finally updated in this chart by the BEA at 147pm EDT showing revisions but the same old story: No core inflation progress in a year
Core inflation in Mar 2025 year over year is 2.64%, still ahead of the lowest reading in the last year at 2.63% in Jun 2024.
Core inflation has been sideways for a year and more, and nowhere near 2% or below as in the pre-pandemic era.
The revised 2.96% for Feb 2025 is equivalent to the 2.97% reading in Mar 2024.
That Feb spike helps explain why the 1Q2025 reading was up 3.5% from 4Q2024.
It's nearly noon and this chart of core personal consumption expenditures still isn't updated with the data due out today because the Department of Commerce which oversees the BEA is now run by the incompetent Howard Lutnick
CNBC usually runs a big story on core personal consumption expenditures before 9:00 AM every month when this report comes out, but not now under Howard Lutnick.
Nosebleed valuations continue despite recent stock market declines
It's a long way down to normal.
The 2022 lows got us back only to the 2000 high, and people thought it was the end of the world when all it was was a good beginning lol.
Nominal GDP in 1Q2025 is estimated at $29.9776 trillion by the BEA this morning.
$SPX closed at 5611.85 on March 31, 2025.
That yields a ratio of 187 vs. the historical mean of 81, or 131% overvalued.
Guru Focus gets similar results from the Buffett Indicator:
ADP private payrolls miss the Dow Jones consensus estimate for 120k new jobs by 48%
... the smallest gain since July 2024 ...
Real GDP shrank 0.3% in 1Q2025
Shrink, shrank, shrunk.
U.S. economy shrunk 0.3% in the first quarter as Trump policy uncertainty weighed on businesses
... fueled by an unexpected rise in imports as companies and consumers sought to get ahead of the Trump tariffs ...
Tuesday, April 29, 2025
Popular support for Canada's Conservatives was actually tops in 2021 at 5.7 million votes, but in 2025 falls to second place at 8.06 million
In neither case however did Conservatives gain enough seats to form a government.
The Conservative Pierre Poilievre loses this election to the Liberal Mark Carney.
After Liberal Justin Trudeau resigned as PM in January, Carney became Liberal Party leader and PM in March, and promptly eliminated the consumer carbon tax ahead of this election, taking away a key issue of the Conservatives.
That, and Trump's hostility toward Canada, made this election outcome a fait accompli.
The US Navy lost an F/A-18 and its tractor off the USS Harry S. Truman aircraft carrier evading a Houthi missile in the Red Sea yesterday according to reports, but that's not the real story
This story, for example, says nothing about evading a Houthi missile.
Fighter jet slips off carrier hangar deck in Red Sea, one minor injury
And is this even the Truman?
I mean, that's an F-35 going in the drink, not the same jet.
You can't trust anybody these days apparently.
LOL Stephen L. Miller puts his illiteracy in the headlines now
Journalists gloss over. My eyes glaze over.
So embarrassing.
Globalist Rod Dreher draws a red line in Canada lol, America's just chopped liver
Rod Dreher, world citizen.
Tomorrow is a big day for economic reports: Core pce inflation and 1Q2025 real GDP
The consensus estimate for tomorrow's core pce inflation number is 2.6% year over year in March, and 0.1% month over month. In February the actual numbers were 2.8% year over year and 0.4% month over month.
The consensus estimate for tomorrow's real GDP estimate is 0.4% vs. 2.4% actual the previous quarter. Yes, you read that right, 0.4%. GDPNow's final read on 1Q2025 out this morning is . . . -2.7%.
Yikes.
The ADP employment change will also be reported. Consensus is for +108,000 vs. +155,000 actual the previous month.
Nonfarm payrolls comes out on Friday. Consensus is for +130,000 for April vs. +228,000 actual in March.
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