Tuesday, July 16, 2013

SAR #13197

Of the seven deadly sins, the only one bankers cannot be accused of is Sloth. Ilargi

Fielding Sally: According to Rep. Louie Gohmert (R-TX) stopping immigration reform and militarizing the borders will convince the Hispanic voter that “Republicans really like me.”

On The Up And Up: Citi – once so poorly run that it required two massive infustions from the US taxpayer – reports 2Q profits of $4.18 billion – up 42% y/y. Or up just 26%, depending on how they want to look at things. The biggest gains came from bond trading (18%), underwriting and financial advice (21%) and manipulating trading on the stock markets (68%).

Up Is The New Down: June's retail sales were up 0.4%, except that without cars and the gasoline price spike they were down -0.1%, suggesting that GDP grew less than 1% in 2Q 2013,

Yes, But: According to Jim Kunstler "What we are seeing now is an enormous amount of wishful thinking by people who ought to know better but don't," He didn't explain how this is noticeably different than all the previous 'nows'.

Right Church, Wrong Pew: Art Cashin is “a bit concerned about what seems to be increasing concern of falling inflation (deflation?) among [members of the] FMOC.” I'd be more concerned about the deflation than the concern.

Shades Of Gray: There is no “true” unemployment rate, just various indicators of the state of the labor market depending on the definition of what constitutes looking for a job – or having one. Despite terminology differences, these indexes generally move in unison.

Porn O'Graph: Spot the one that doesn't fit.

The Parting Shot:
 Opening Day, Cantharellus cibarius 


Anonymous said...

@Parting shot:
Ah, the most beloved of all mushrooms. In my - often humble - opinion it's pretty hard to beat their taste.


TulsaTime said...

I'm so excited about (trying) to double the size of the border patrol. There were so many good headlines as they stumbled to the present size, perhaps they can recycle an army brigade or ten, just to skip over all the training headaches and such. They can lay off all the office types, since they will be over edumacated for shooting unarmed foreigners.

And it's good to see that buddy Rick is going to thin out the distractions before his next farce for presidentin. I look forward to the Iowa catuses and his intellectual tour de forcee.

How long do we suppose the gubbmint can not declare a recession, what with above said retail excess, house boom, and 85B monthly cardiac paddles?