Friday, July 8, 2016
Not Good: The yield difference between 2- and 10-year Treasuries is just 0.8% - an all time low. At 1.367% on the 10-year notes, why aren't we rebuilding bridges and schools and hospitals and throwing up solar and wind systems all over? Sure, Republicans; but other than that? It's as free as money gets... we hope.
When It Rains, It Poors: The BLS says US employment increased by a massively unimpressive 38,000 jobs in May. More kids graduated high school in NYC than that. They also revised March and April's new job totals down to a combined 59,000. Economists were expecting a number north of 150,000. Then wowser! For June the BLS claims 287,000 jobs created. One could get whiplash.
Un-expectations: A Federal judge has ruled that you do not have a “reasonable expectation of privacy” for the data on your computer. Cellphone. Ipad. Fitbit. Refrigerator and toaster, too, probably.
Freeing Trade: “An honest evaluation of how [previous trade agreements] played out produces clear evidence they haven’t worked well and in fact have not come close to the promises made.” But, says Lucy, it'll be different this time.
Stirred, Not Shaken: At the end of June, Arctic sea ice was disappearing about 70% faster than normal for the season. Ice coverage is 100,000 square miles below the previous record low (June 2010). In the past 30 years ice coverage has vanished from an area twice the size of Texas.
Noted: “The anti-elite movement will have its day.” Felix Salmon
Adapt To Adopt: If you want to be Swiss, you gotta be Swiss. Muslims face fines up to £8,000 for wearing burkas in Switzerland and if you don't want to shake hands, swim with boys or show respect for Swiss customs, don't apply for citizenship. Don't dress funny either.
Whose World? Tony Blair stubbornly clings to his belief that the world is better as a result of the US/UK led Iraq War.
True Or False: The Obama administration claims that drone strikes only killed 116 civilians outside of combat zones, a figure drastically lower than estimates by various NGOs. True, that's what they claim.
Safety First: Tell your kids not to be black in America.
A Parting Shot:
Posted by Charles Kingsley Michaelson, III at 7:04 AM