Wednesday, December 16, 2015
Memory is a liar and a thief.
Preview: This week, the US government will take action to slow the economy and prevent wage growth. Imagine Obama announcing a tax that that would raise the price of borrowing money for every new mortgage and car loan, increase the cost of building new schools, and jack up the costs of business expansion and explaining that the need for the increase was to slow the pace of job formation, keep wages down and further undercut those unfortunate enough to have to work for a living. That's what the Fed is going to do.
En Passant: Air temperatures in the Arctic have reached 2.3ºF above average (1.3ºC), a 115 year high. Actually, it may be a several thousand of year high, but records only go back so far. “What happens in the Arctic doesn’t stay in the Arctic.”
Comment: Japan and South Korea have agreed on a ten-year plan to build 61 new coal plants. It's part of their fight against global warming under terms of the Paris Agreement signed last week.
Even Steven: Investigations have revealed that the US “consistently overlooked killings and torture” by Shi'ite militias sponsored by the Iraqi government. Which is only fair, for the Iraqi's kept mum about the atrocities the Americans were regularly committing around the country.
Quoted: "There is more oversight in seafood to protect dolphins than there is to protect humans." And we don't enslave all that many dolphins, either.
Cruzing Along: “ Everyone who knows Ted Cruz well hates him.” That's part of the attraction to his hard core supporters – they know what it's like to be despised. He is the entrenched darling of the evangelicals and they run the Republican primaries in enough places and with enough fervor to push their way onto the center stage. Trump is hamming it up, playing to the crowds. Cruz is a believer.
Note To Janet: The BLS reports that the CPI-U was unchanged in November M/M and had grown 0.5% Y/Y – and that's the hyperinflation the Fed is going to save us from.
Panic Attack! Los Angeles in what "may have been an overreaction” to an email most likely sent by a high school nerd who wanted the day off, shut down all of its schools on Tuesday. NY's police commissioner said the city's schools had received a similar email threat but found it was not credible. Where's Orson Wells when you need him?
Posted by Charles Kingsley Michaelson, III at 7:21 AM