Thursday, November 16, 2023

US House Democrat minority leader Hakeem Jeffries crows over passage of more of the same old, same old bloated spending by continuing resolution

Looking forward to a Moody's downgrade, if they've got the guts. Congress certainly doesn't.

 

Senate sends funding bill to Biden’s desk, averting a government shutdown :

WASHINGTON — The Senate passed a stopgap funding bill Wednesday night, punting the GOP’s spending fight and the threat of a government shutdown until after the holidays.

The bipartisan vote was 87-11, with 10 Republicans and one Democrat — Sen. Michael Bennet of Colorado — voting against the bill. ...

The short-term bill, known as a continuing resolution, or CR, cleared the House on Tuesday on a lopsided 336-95 vote, with all but two of the no votes coming from Republicans. The funding bill next heads to President Joe Biden’s desk for his expected signature. ...

“No spending cuts, no right-wing extreme policy changes, no government shutdown, no votes tomorrow, Happy Thanksgiving,” he said. “That is a type of report that, when you are able to give it, means morale is very high.”

Nikki Haley and Donald Trump were made for each other

 



Tuesday, November 14, 2023

Dim bulb Jonathan Martin says Joe should heave Bidenomics into the dumpster just as broad inflation tanks from 3.7% yoy in September to 3.2% yoy in October

Perhaps the most overwhelming economic messaging advice I picked up from Democrats was for him to heave “Bidenomics” into the dumpster. Attempting to make voters believe something they don’t is folly. Attaching your name to that strategy borders on masochistic.

Here’s How Biden Can Turn It Around

Joe would be well on his way to re-election right now if he weren't shooting himself in the foot with his stupid green energy policies, which are keeping inflation from coming down harder than it already is.

That's what needs to go in the dumpster.





Joe Biden: David Axelrod is a prick

On that we agree.

Here.

But Jonathan Martin must be joking when he recommends Biden bring in Rahm Emanuel to run the 2024 re-election campaign and Bill and Hillary to lead a Mideast peace process.

I mean LOL:

It may sound far-fetched, but this is no time for small thinking. The moment demands all hands on deck.

HHS: Two percent of Americans have taken the latest COVID booster

 Reported here.

Monday, November 13, 2023

It's too late, we've had it

 


Female astronauts lose another bag in orbit

 



Female examiners left the FDIC because of what they say was a sexualized, boys’ club reports Rebecca Ballhaus

 Strip Clubs, Lewd Photos, Boozy Hotel: Toxic Atmosphere at FDIC...

America is the way it is because half the people are off their rocker

 The other half are men.

All the pet psychics and all the customers in this story by a woman are women.

One guy gets in his two cents though:

"Animal communicators and the people who use them tend to have a personality type that’s prone to fantasy. Pet psychics work much the way human psychics work, he says."

 



Sunday, November 12, 2023

Farts in space

 This story was a real eye-opener for me.

The adverse health consequences of long term deep space travel make it a non-starter.

Sad.

LOL Democrat James Clyburn still blames Jill Stein and Gary Johnson for Hillary's loss, not the blacks who stayed home in Milwaukee, Detroit, and Philadelphia

Hillary Superpredators Clinton remains the elephant in the room of the Congressional Black Caucasians. And Hillary The Anointed And I Don't Need To Campaign in Wisconsin Clinton shall not be mentioned either.

From the story here:

Jill Stein and Gary Johnson ran third-party campaigns in 2016 that arguably siphoned off enough votes to cost Hillary Clinton the states of Michigan, Wisconsin and Pennsylvania — and with them the presidency. I don’t remember all that they promised, but I know what they helped deliver: the disastrous presidency of Donald Trump. 

Clyburn predictably also blames Ralph Nader's 97k votes in Florida for Bush's victory in 2000. He doesn't want to talk about the 180k spoiled ballots in Florida, 54% of which were cast by black folks.

Getting on the ballot everywhere is RFK Jr's big problem as an independent

“I wondered if they had thought it all through before making the switch over,” said Michael Arno, a ballot access expert who’s firm was working with No Labels until April of this year and devised the independent ballot access plans for Howard Schultz in 2020 and Michael Bloomberg before that. ... Kennedy’s decision to run as an independent after competing for four months as a Democrat is a more spontaneous approach to the race than most independent candidates typically take. ... The first deadline is Jan. 6, 2024, in Utah with a named vice president required.

Read the whole thing here.

Saturday, November 11, 2023

San Fran Freako would be cleaner if Xi Jinpingpong visited more often

 'They're clearing out homeless': San Fran gets ready for arrival of world leaders...

Xi's 'Old Friends' from Iowa Invited to Dinner With Him...

Ahead of another government funding deadline November 17th, Moody's lowers its US government ratings outlook

 

Moody’s Investors Service on Friday lowered its ratings outlook on the United States’ government to negative from stable, pointing to rising risks to the nation’s fiscal strength.

More.

The pro-Hamas side is anti-white

 




















Meanwhile:




Five bank failures in 2023 to date costing the DIF $35.569 billion

 11-3-23 Citizens Bank of Iowa: cost to the Deposit Insurance Fund is $14.8 million

7-28-23 Heartland Tri-State Bank of Kansas: cost to the DIF is $54.2 million

5-1-23 First Republic Bank of California: cost to the DIF is $13.0 billion

3-12-23 Signature Bank of New York: cost to the DIF is $2.5 billion

3-10-23 Silicon Valley Bank of California: cost to the DIF is $20.0 billion

Friday, November 10, 2023

The poor dears: Survey of millionaires says a third feel only middle class

 


Same as it ever was.

 

 

 

 

 

 

From the story:

Even among millionaires, only 8% would characterize themselves as wealthy these days.

Roughly 60% of investors with $1 million or more of investable assets said they are more likely upper middle class, according to a recent Ameriprise Financial survey of more than 3,000 adults.

To that point, 31% consider themselves decidedly middle class.

Thursday, November 9, 2023

Joe Manchin won't seek re-election to the US Senate from West Virginia in 2024

 From the story here:

Manchin’s commitment to staying active in politics, meanwhile, fuels further speculation that he could be considering a presidential run.

“Nothing is off the table,” a source with direct knowledge of Manchin’s plans told NBC News when asked if Manchin is considering a White House bid.

Wednesday, November 8, 2023

It's officially a moderate El Niño

 It's officially a moderate El Niño with five consecutive overlapping 3-month measuring periods averaging between +1.0 to +1.4, now averaging +1.04 after the fifth measurement in August-September-October.

It began with the April-May-June measuring period.

Tuesday, November 7, 2023

Democrat Rashida Tlaib (MI-12) censured for anti-semitism in bi-partisan House vote 234-188

From NBC News, here:

 

WASHINGTON — House lawmakers on Tuesday censured Rep. Rashida Tlaib, the sole Palestinian American in Congress, over her remarks and actions in response to the Israel-Hamas war.

The censure resolution, authored by Rep. Rich McCormick, R-Ga., passed 234 to 188, with 22 Democrats voting for it and four Republicans opposing the measure. A censure vote only requires a simple majority to pass.

The resolution censures Tlaib, D-Mich., for “promoting false narratives regarding the October 7, 2023, Hamas attack on Israel and for calling for the destruction of the state of Israel.”

"It is a sad fact, but this type of antisemitic hate is being promoted by a small group of members in this body, chiefly Rep. Tlaib," McCormick said on the House floor before the vote. "We must hold her accountable."

WeWork, which once pretended to be worth $47 billion, files for bankruptcy protection

 From the story here:

WeWork has struggled in a commercial real estate market that has been rocked by the rising cost of borrowing money, as well as a shifting dynamic for millions of office workers now checking into their offices remotely.

 

Former Democrat and Leftist: DeSantis should have waited until 2028

 Sasha Stone, here, who is all about the charisma but still can't spell Der Führer. 

 


 

I don't recall a single public figure in America warning Trump's long-planned January 6th DC rally was a provocation, which is what it was

 


Ed Morrissey: If they weren’t legit, the police would have said that explicitly rather than issue a bunch of diversionary statements

Monday, November 6, 2023

The Roman emperors used bread and circuses to distract the masses

 Ours use sports, gambling, and drugs.

Joel Kotkin: The capitalist elite undermines our economic security

 He means libertarians.

Here:

Free-market dogmatists have played a part in the deindustrialisation of the West as well. Consultants and investors pushed businesses to look offshore for virtually every critical production input. Between 2004 and 2017, the US share of world manufacturing shrank from 15 per cent to 10 per cent. Our reliance on Chinese inputs doubled. The trade deficit with China, according to the Economic Policy Institute, has cost as many as 3.7million American jobs since 2000. Overall, the US and the EU have seen their share of value-added manufacturing drop from 65 per cent in the 1960s to barely half that today.

Sunday, November 5, 2023

Despite US Treasury department manipulation of the yield curve last week and another Fed pause, yields still average above five in the aggregate

 We saw a much bigger surge into bonds in March, but yields persisted.

With inflation, employment, and nominal GDP all still strong, Treasury tricks are unlikely to unravel this.

Cash such as VMFXX at 4.21% ytd and total stock market such as VTSAX at 13.92% ytd continue to trounce bonds ytd. VBTLX is still down 0.39% ytd. AGG is down 3.46% ytd.

 



Democrat leader of the Hamas Caucus in the US House, Rashida Tlaib, says Democrat President Joe Biden supports genocide in Gaza

Genocide is fast becoming as obsolete as fascism.


 


Friday, November 3, 2023

There's a lot of clucking out there about multiple job holding

 Multiple job holding seems high at nearly 8.4 million, here.

But as a percent of the employed it is not, currently at 5.2%. In the go-go 1990s it was above 6%.

Multiple job holding generally is a sign of opportunity and good times, not economic stress and bad times. Obviously there is always a percentage of the workforce which can't find full-time work and works two part-time jobs. They now number almost 2 million, a very small part of the employment universe, which is near all-time highs in the range of 161 million.

Full-time employment in October was still strong at 50.4% of civilian population

 The ten month average holds at 50.3%, which is still higher than full year 2022.

We shall see.



If Ron DeSantis' candidacy is so dead, why do Democrats continue to write hysterical attack columns about him?

 

Maria Cardona, RealClearPolitics

Florida is such a hellscape under DeSantis that he enjoys "a supermajority in both houses of the state’s legislature. It’s not a pretty picture . . .." lol

Wednesday, November 1, 2023

More defunct neo-liberalism from Biden & Blinken: Put the losers to Hamas back in charge in Gaza

 “At some point, what would make the most sense would be for an effective and revitalized Palestinian Authority to have governance and ultimately security responsibility for Gaza,” Blinken told the Senate hearing.


More.

Might as well put Matt Yglesias in charge and go full-on not-a-serious-country fairy tale.

This is a bid for the Disney vote, that's all.

 



Tuesday, October 31, 2023

After lotsa little blue pills

 Obama Presidential Center Rising, Finally, in Chicago...




Hey, just like Hillary . . .

 Bankman-Fried Could Not Recall -- Over and Over and Over!

Age discrimination is widespread and has been for years, everyone just shrugs

 Don't complain when it happens to you. No one cares.

 

More than half, 56%, of full-time workers in their early 50s get pushed out of their jobs (due to circumstances like a layoff) before they’re ready to retire, according to a 2018 paper published by the Urban Institute.

“Job loss at older ages is really consequential,” said Johnson, a report co-author. He attributes much of that workplace dynamic to ageism.

Just 10% who suffered an involuntary job separation in their early 50s ever earn as much per week after their separation as before it, the Urban Institute paper said. In other words, 90% earn less — “often substantially less,” Johnson said.

Johnson’s research shows that in the aftermath of the Great Recession (from 2008 through 2012), workers 50 to 61 years old who lost a job were 20% less likely to be reemployed than workers in their 20s and early 30s. Those age 62 and older were 50% less likely to have a new job.

 

More.

Joe Biden allocates $1.3 billion to supply 0.08% of 2022 electricity generation to three new projects by 2031 lololol

 What a hero.

Biden announces $1.3 billion to build new power lines, upgrade aging electric grid

Hamas are preppers with enough stored underground to last them for months while their people above ground already run out of food and water

 


The Associated Press is Hamas' drive-by repeater

 


Support for abortion and for the butchers of Hamas is highest among young people

 

51 percent of young people side with Hamas over Israel in conflict: poll 
 
48 percent of young people say abortion should be legal under any circumstance

Increased risk of stroke in older adults from COVID booster and flu vaccine received at the same visit

 


Monday, October 30, 2023

My plan was to give the Middle East to Disney, Florida to the Jews, and Washington state to the Palestinians, but I now realize that I was sadly mistaken

 This very serious thinker ™ agrees with Glenn Beck that what America needs most to compete in the 21st century is a population of 1 billion.

 




These asshats simply repeat the false Associated Press headline that crowds stormed the Russian airport to protest Jews when they were Muslims trying to lynch them

 The fellow travelers of anti-semitism in the press are all over the place.



Stephen Miller rose to the level of his incompetence long ago, but he's even more popular now, which says more about his audience than it does about him

 

 

 

 

 

 

 

 

 

 

A good writer might have mocked the man incisively:

Nothing has prepared me for the academic campus environment which I apparently helped foster.

But Miller is not a good writer.

Sad.

Chemerinsky is the slimiest of creatures for illegally discriminating in hiring in order to boost diversity.

In Iowa 57% of Republicans want someone other than Trump in 2023, down from almost 76% of Iowans in 2016 who wanted someone else heh heh

  So much winning!

Iowa (DMR/NBC): Trump 43, DeSantis 16, Haley 16, Scott 7

 

Trump came in second behind Ted Cruz in the Feb 1, 2016 Iowa Republican Caucus:

Ted Cruz 27.64%

Donald Trump 24.3%

Marco Rubio 23.12%.

This so-called history appearing at Bloomberg pretends that the Yom Kippur War, a surprise attack on Israel by Egypt and Syria, didn't happen

Saturday, October 28, 2023

Bocephus at his very best, in 1981

 


Weekend crew at CNBC has a hangover

 CNBC front page runs both stories:

Search for Maine shooter continues (yesterday morning)

Search for Maine shooter ends (yesterday evening)





Friday, October 27, 2023

Speaking of neologisms, US House Democrat Cori Bush, member of the Hamas Wing, is a self-described "politivist"

"When the pro-Hamas wing occupies the Capitol it's not an insurrection".

Words mean whatever they say they mean, silly.

 

 


Core pce inflation at 3.7% yoy in September 2023: Two years and five months in excess of 3%

 Overall pce inflation has been stuck at 3.4% yoy for three months running as of Sep 2023, which indicates to me the Fed will at the very least keep rates where they are, or possibly raise them again as progress has stalled.

 

overall

core

 



Today's ridiculous neologism is "mediatized" in a story about old-fashioned stock collapse of the bank which canceled Nigel Farage

Trading suspended apparently at 4.21 USD

 

 

 

 

 

 

 

 

 

 

Trading in NatWest shares was briefly suspended on Friday morning as the stock slid after a combination of lacklustre earnings and regulators flagging possible rule-breaking in a highly mediatized case. ...

A scandal erupted over the summer over the closure of the Coutts account of Brexit figurehead Nigel Farage, for which the politician said the lender did not initially provide a reason. Farage filed a subject access request to obtain a dossier that the bank held on him, which addressed his political views.

NatWest CEO Alison Rose then admitted to discussing Farage’s bank account with a BBC reporter, supplying information that was used in a story and later proved to be inaccurate. She eventually resigned in July, amid heavy criticism.

More.



Thursday, October 26, 2023

Two men enter, one man leaves


 UFC fans threaten boycott after it announced BUD LIGHT deal...

Hamas wing of the Democrat Party in Michigan divides its legislature

 Differences over what’s happening in Israel and Gaza were laid bare in the Legislature, where Democrats have been divided over pro-Israel resolutions like those that some other state legislatures have passed with near unanimity.

In the state House, a pro-Israel resolution that was introduced with bipartisan support is no longer expected to pass due to objections from some Democrats.

Abraham Aiyash, the Democratic floor leader in the chamber, strongly opposed the resolution.

Aiyash, who grew up in Hamtramck after his parents immigrated from Yemen, said that “if we’re going to condemn terror, we must condemn the terror and the violence that the Palestinian people have endured for decades.”

The state Senate opted to write its own resolution after the House’s stalled for more than a week.

It was introduced by the chamber’s lone Jewish lawmaker, Jeremy Moss, and passed easily with bipartisan support.

More.

Tenure track Economics professor shocked to find out that corrupt college administrators have been improving poor grades FOR DECADES without telling the professors

 But for an administrator to then change those final grades—behind my back—simply to appease them? How could that possibly be justified?

The response from my department chair, who has been at the college for 17 years, floored me: “This has been occurring ever since I started at Spelman.”

“That’s corrupt,” I blurted out. [In a statement emailed to The Free Press, a Spelman spokesperson wrote that “The College, its administrators, and faculty, exercise appropriate judgment in the delivery of our exceptional learning and living activities in order to maintain consistency across Spelman’s campus.” Spelman declined to comment on any of the specifics in this story.]

More here.

The poor guy got fired in the end, for naively believing that the commitment to excellence meant grading fairly according to long-accepted standards.

Exact same thing happened to me . . . in 1988, at a so-called world class institution of higher learning, where it's all wink wink.

The process got turbocharged in the 1960s by the draft dodgers. They fled to college, or to Canada. Liberal institutions gave them a pass on admissions, and once there relaxed standards to keep them enrolled to escape being drafted. These ne'er-do-wells stayed in school as the Vietnam war dragged on. Many went on to grad school as standards weakened some more. Rinse and repeat.

They are the ones who went on to educate today's hordes of complete lunatics now populating college campi.

Standards were lowered everywhere quite quickly from the 1960s, including at elite small religious colleges by the 1970s where stubborn professors with standards were already then not being renewed, the polite way of firing them.

We are reaping what we've sown.

The rot set in a long, long time ago, and it reflects why the country is in the sorry state it is.

It can't be fixed. The country as we know it will have to collapse first.

Three semesters of Latin used to be required to get into Harvard, let alone graduate from it. That standard was already under attack in 1917 in the name of "science". The widespread requirement of three semesters of college Latin was gone by the mid 1960s. Now you will be hard pressed to find any college requiring any foreign language at all to graduate. Princeton is now infamous for eliminating Latin and Greek for a degree in Classics, you know, the study of everything Greco-Roman. 

The process has its own inertia producing this history. It's inherent in the thing we call America.

 

Tell me, Bwana: What mean GDP, why important?

 Bureau of Economic Analysis this morning here:

3Q2023 nominal GDP, first estimate: $27.6235 trillion
Nominal increase year over year in 3Q: 6.27%
Compound annual growth rate since 3Q2000: 4.375%
Compound annual growth rate 3Q1947-3Q2000: 7.275%
Underperformance from post-war, last 12 months: 13.8%
Underperformance from post-war, last 23 years: 39.86%
Current S&P 500 ~ 4175
Current ratio of S&P 500 to GDP: 151
Median ratio of same 1938-2019: 81
Current overvaluation of S&P 500 from median: 86.4%
Current fair value of S&P 500: 2238   

Wednesday, October 25, 2023

Of Venezuela

 SCHWARZENEGGER: I WOULD MAKE A GREAT PRESIDENT...

Chicoms give fellow traveler Gavin Newsom warm welcome

 


It's remarkable how backward and unimaginative Elon Musk's thinking can be


 How many tanks, guns, and drones can you make relative to the other side? That's what it comes down to. And it may be the case, if not now, in the future it probably will be, that a Russia-China-Iran alliance can outproduce the Western alliance. 

Here.

Monday, October 23, 2023

US Treasury yields making new highs for this cycle as of Oct 19, 2023

Massive Treasury issuance to pay for massive pandemic spending has driven yields higher.
 
It's the law of supply and demand: Increase the supply of US Treasury debt and the price goes down.
 
Previously issued securities paying lower interest rates drop in price because they are much more plentiful in comparison with the new issues paying higher rates which investors demand.
 
Who wants 'em?
 
Banks are estimated to be stuck with these dogs in quantities approaching what the Fed has let roll off, which is what they also must do. The collateral backing banks, insurance companies, pension funds, et cetera et cetera et cetera, suffers.  

The Federal Reserve Bank's role as a big buyer in the bond market has been curtailed since 2Q2022, removing its big price support role. As of 3Q2023 the balance sheet is down $768 billion as securities mature. That's about $51 billion rolling off per month, and no net buying to replace it.
 
The Fed has also raised the Federal Funds Rate to an average of 5.33 to combat inflation.
 
So yields have risen for such reasons to these records for this cycle to date, but it's all predicated on the US Treasury having to dilute the supply:
 
1MO 6.02 5/26/23 (debt ceiling disagreement)
3MO 5.63 10/6/23
6MO 5.61 8/25/23
1Y    5.49  9/27/23
 
2Y 5.19 10/17/23
3Y 5.03 10/18/23
5Y 4.95 10/19/23
7Y 5.00 10/19/23
10Y 4.98 10/19/23
 
20Y 5.30 10/19/23
30Y 5.11 10/19/23.

In the aggregate as of Oct 20 yields are up a net 22% year over year to an average of 5.25692 from 4.30846 when all the wizards of smart said they couldn't possibly go any higher without breaking something.

They're still saying that.