Ultimately we are just one more species.
Statistics, Hope and All that Jazz: According to the ISM, manufacturing “expanded in May for the 10th consecutive month” even though the PMI decreased 0.7% m/m. They also claim the economy is growing at a 5.7% annual rate and will reach 6% by the end of the year. I want some of whatever it is they've had too much of.
Enough Said: BP has hired a former Dick Cheney PR flack as its spokesperson. Ms. Kolton likes a challenge.
'Twas Ever So: Of course the billion or so euros set aside to rescue Greece are really going to go to fatten French and German banks. We humans are no different than the lowliest bacteria – we want to maximize the resources available to us and don't give the slightest thought to how it might affect our children or anyone else. We take what we can and ally ourselves with the strong to get more, which explains almost all economic life from Greek bailouts to Walmart fronted slavery for the benefit of the American consumer.
Graduation Speech: Boy am I glad I'm not you. My America was a reasonably egalitarian society that worked, as did its people. They had jobs. And hopes.
Imitation: Israel attacked a flotilla of peaceful activists in international waters, then blamed the activists for defending themselves. Israel has for years been conducting an illegal war against the Palestinians and goes about it with all the delicacy of a Predator drone throwing missiles into a wedding party. Who learned from whom?
Employment Statistics: Hewlett-Packard is cutting 9,000 US jobs and replacing them with workers “in different countries.”
Generations: What happens to globalization when the next generation of Chinese workers decides they are not going to put up with miserable working environments, long hours and miniscule wages? Just asking, because the unrest is growing.
Nailing It Down: The Census Bureau reports that construction spending in April 2010 was up 2.7% m/m and down 10.5% y/y. Lukewarm, at best.
Early Warning: A viral blight is attacking cassava plants in Africa. Cassava? The worlds third-largest source of calories after rice and wheat. It's the mainstay crop for about 800 million in Africa, Asia, and South America. Experts say this blight has the potential to be as disastrous as the Irish potato famine.
It Ain't Over, Over There, Either: Unemployment in the Euro nations remains at 10%.
Speak Up! In a decision only a lawyer could love, the Supreme Court has ruled that in order to remain silent silent suspects must tell the cops they wish to remain silent. The cops, of course, are not expected to be able to tell from the silence that the silent suspect isn't speaking.
Porn O'Graph: Summertime, Summertime, Summertime Blues.