Saturday, June 25, 2022

MARKETS: YEAR-TO-DATE June 21, 2022

 

MARKETS: YEAR-TO-DATE

Nasdaq

10,798.35

S&P

3,674.84

Dow

29,888.78

10-Year

3.236%

Bitcoin

$20,477.08

Coinbase

$51.22

*Stock data as of market close, cryptocurrency data as of 7:00pm ET. Here's what these numbers mean.

  • Markets: The stock market’s day off yesterday allowed us to take a quick dive into #markethistory to understand when this historic sell-off will end. There’s nothing optimistic to report: Of the 17 times the S&P has dropped more than 15% since 1950, on 11 of those occasions stocks bottomed out only when the Fed began to signal a loosening of monetary policy, according to an analysis by Goldman Sachs. But in the current downturn, the Fed is planning to hike rates into next year.
  • Economy: Sometimes all it takes is a simple phone call to ease recession worries. President Biden said that “there’s nothing inevitable about a recession” after dialing up former Treasury Secretary Larry Summers. Biden and Democrats are working on legislation to help bring down inflation, including capping the price of insulin.

Friday, June 24, 2022

Class is Back (Globalization)

 Class is Back (Globalization)



The growing likelihood of recession, at best sharply lower growth and maybe 1970s-style stagflation, seems likely to further accentuate the class and political divisions already rubbed raw by the pandemic and a global supply crisis. A majority of Americans feel we may be headed for a depression, while Britain is already experiencing negative growth.

Wednesday, June 22, 2022

Stalinist Show Trial in America

 Stalinist Show Trial in America (Jan 6 Subcommittee)


A Cretinous Beltway Reproduction of a Stalinist Show Trial

If one watches episodic police and detective dramas, there often occurs a scene wherein a culprit is apprehended and charged as an accomplice “after the fact” for helping to cover up the crime. In the British equivalent of such shows, the police use the phrase “perverting the course of justice.” The bottom line is, if one aids in concealing, distracting, or diverting attention from the criminal act to prevent its detection, one is guilty of participating in a criminal enterprise, whether it be before or after the fact.




Saturday, June 18, 2022

Red Flag Laws - Potential Nightmare

 OUT ON A LIMB: 

This Democrat Governor Just Proved Why Red Flag Laws Will Be Abused.

The graphic explains the process of red flag laws like this: Jane sees a Facebook friend, Randy, post “photos of guns and cryptic messages.” She then reports him to the police. (Holy escalation!)

The police then petition a judge to “temporarily” remove Randy’s Second Amendment rights. Police provide “evidence” (seemingly a cryptic Facebook post in this scenario) that Randy is a threat to himself or others. The court agrees to temporarily take away Randy’s rights.

Kumbaya. The justice system is perfect. Nothing to see here.

Come on.

* * * * * * * *

Can you imagine how overrun our courts would be if every left-wing Karen could report people for merely owning guns and not liking their government? We have an environment where people are being told speech is violence and where a not insignificant part of the population believes they are justified in “canceling” someone for simply holding differing political views.

What could go wrong?



Wednesday, June 15, 2022

Biden Meet Biden (Why Gas Prices Went Up)

 “MILTON FRIEDMAN ISN’T RUNNING THE SHOW ANYMORE:” 

Reuters: Biden demands oil companies explain lack of gasoline as prices rise.

U.S. President Joe Biden on Wednesday demanded oil companies explain why they aren’t putting more gasoline on the market, sharply escalating his rhetoric against industry as he faces pressure over rising prices.

Biden wrote to executives from Marathon Petroleum Corp, Valero Energy Corp, and Exxon Mobil Corp and complained they had cut back on oil refining to pad their profits, according to a copy of the letter seen by Reuters.

“At a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable,” Biden wrote, adding the lack of refining was driving gas prices up faster than oil prices.

“The lack of refining capacity – and resulting unprecedented refinery profit margins – are blunting the impact of the historic actions my Administration has taken to address Vladimir Putin’s Price Hike and are driving up costs for consumers.”

The letter is also being sent to Phillips 66, Chevron Corp, BP and Shell, a White House official, who declined to be identified, told Reuters.

Joe Biden, it’s time to meet Joe Biden!

● Biden’s plan to cancel Keystone pipeline signals a rocky start with Canada.

—The Washington Post, January 19th, 2021.

● Biden pulls 3 offshore oil lease sales, curbing new drilling this year.

—The Washington Post, May 12th.

● Biden administration won’t appeal judge’s ruling revoking Gulf of Mexico drilling leases.

—The Washington Post, February 28th.

Flashbacks: Why Aren’t Democrats Dancing for Joy About Sky-High Gas Prices?

In the service of reducing carbon emissions, Democrats have long openly worked to raise the price of fossil fuel energy. They have done so by proposing carbon taxes, cap-and-trade schemes, higher leasing fees, and other measures to jack up costs so people burn less of it. This is why Barack Obama said, in answer to a related question about electricity, that his energy plan would make prices “necessarily skyrocket.” This is why Democratic Rep. Ro Khanna praised BP’s CEO less than six months ago for pledging to reduce oil and gas production by 40% by 2030. Reductions in oil production and rising gasoline prices are part of the Democrats’ agenda and the Paris climate agenda.

There’s even more to it than that. Over the past decade, the Democrats’ overt hostility toward fossil fuels has even driven companies in the industry to sideline production, purely for public relations purposes, while prioritizing meaningless, politically correct carbon emissions goals. How can Democrats suddenly feign outrage at their incredible success in influencing the industry?

Is it a mystery why Democrats aren’t doing a sack dance and celebrating the salvation of planet earth?

There’s the small matter of their political survival, of course. It would be unseemly — like doing a jig at an Irish funeral — to celebrate other people’s pain. And it would cost many Democrats who are secretly jubilant about high gas prices their political careers.

Instead, Democrats are pretending to look for a way to “ease consumers’ pain.”

In September of 2019, after CNN’s seven hour “climate change town hall,” Bryan Preston wrote, “Seriously, if you see all of the above — which is just a sample — and vote for any of these people for any office at any level, it’s on you. If you like Venezuela, voting for any of them will bring you a whole lot of Venezuela.”

And as Kate of Small Dead Animals wrote after the CNN horror show, “Don’t make the mistake of thinking they don’t mean it.”

● Aren’t California’s High Gas Prices What The Left Have Wanted?

● NBC, the Washington Post, and the New York Times in lockstep call for higher gas taxes.

● 2008 L.A. Times headline: “The joy of $8 gas.”

Exit quote: “Under my plan, energy costs will necessarily skyrocket…”

In other words, Obama administration retreads are following the same playbook as the original Obama administration: “We’re going to keep at it to ensure the American people are paying their fair share for gas,” is the perfect Kinsley Gaffe for an Obama administration retread like Biden:  As Steven Chu, Obama’s then-incoming energy secretary, told the Wall Street Journal in the fall of 2008: “Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.”

So is it fair to ask if Biden is on the payroll of Putin? As Walter Russell Mead wrote in 2017:

If Trump were the Manchurian candidate that people keep wanting to believe that he is, here are some of the things he’d be doing:

Limiting fracking as much as he possibly could
Blocking oil and gas pipelines
Opening negotiations for major nuclear arms reductions
Cutting U.S. military spending
Trying to tamp down tensions with Russia’s ally Iran.

“Yep,” Glenn added in late 2019. “You know who did do these things? Obama. You know who supports these things now? Democrats.”

● Biden praises high gas prices as part of ‘incredible transition’ of the US economy away from fossil fuels.

● Team Biden might be purposefully grinding down the middle class.

Related: Biden tormented by Republican guerrilla campaign and ‘I did it’ stickers.

Also: 100Pcs I Did That Biden Funny Car Stickers. #Resist #CommissionEarned

(Classical reference in headline.)

Tuesday, June 14, 2022

10 New Ideas Changing America (WOKE) - VDH

 ril 1, 2021 6:30 AM

Many American privately reject the new diktats of wokism. But publicly, not so much.

 There are ten new ideas that are changing America, maybe permanently.

1) Money is a construct. It can be created from thin air. Annual deficits and aggregate national debt no longer matter much. Prior presidents ran up huge annual deficits, but at least there were some concessions that the money was real and had to be paid back. Not now. As we near $30 trillion in national debt and 110 percent of annual GDP, our elites either believe that permanent zero-interest rates make the cascading obligation irrelevant, or that the larger the debt, the more likely we will be forced to address needed income redistribution.

2) Laws are not necessarily binding anymore. Joe Biden took an oath to “take care that the laws be faithfully executed.” But he has willfully rendered federal immigration laws null and void. Some rioters are prosecuted for violating federal laws, others not so much. Arrests, prosecutions, and trials are all fluid. Ideology governs when a law is still considered a law.

 Crime rates do not necessarily matter. If someone is carjacked, assaulted, or shot, it can be understood to be as much the victim’s fault as the perpetrator’s. Either the victim was too lax, uncaring, and insensitive, or he provoked his attacker. How useful the crime is to the larger agendas of the Left determines whether a victim is really a victim, and the victimizer really a victimizer.

3) Racialism is now acceptable. We are defined first by our ethnicity or religion, and only secondarily — if at all — by an American commonality. The explicit exclusion of whites from college dorms, safe spaces, and federal aid programs is now noncontroversial. It is unspoken payback for perceived past sins, or it’s a type of “good” racism. Falsely being called a racist makes one more guilty than falsely calling someone else a racist.

4) The immigrant is mostly preferable to the citizen. The newcomer, unlike the host, is not stained by the sins of America’s founding and history. Most citizens currently must follow quarantine rules and social distancing, stay out of school, and obey all the laws.

Yet those entering the United States illegally need not follow such apparently superfluous COVID-19 rules. Their children should be immediately schooled without worry of quarantine. Immigrants need not worry about their illegal entry or residence in America. Our elites believe that illegal entrants more closely resemble the “Founders” than do legal citizens, about half of whom they consider irredeemable.

5) Most Americans should be treated as we would treat little children. They cannot be asked to provide an ID to vote. “Noble lies” by our elites about COVID-19 rules are necessary to protect “Neanderthals” from themselves.

Americans deserve relief from the stress of grades, standardized testing, and normative rules of school behavior. They still are clueless about why it is good for them to pay far more for their gasoline, heating, and air conditioning.

6) Hypocrisy is passé. Virtue-signaling is alive. Climate-change activists fly on private jets. Social-justice warriors live in gated communities. Multibillionaire elitists pose as victims of sexism, racism, and homophobia. The elite need these exemptions to help the helpless. What matters is what you say to lesser others about how to live, not how you yourself live.

7) Ignoring or perpetuating homelessness is preferable to ending it. It is more humane to let thousands of homeless people live, eat, defecate, and use drugs on public streets and sidewalks than it is to green-light affordable housing, mandate hospitalization for the mentally ill, and create sufficient public shelter areas.

8) McCarthyism is good. Destroying lives and careers for incorrect thoughts saves more lives and careers. Cancel culture and the Twitter Reign of Terror provide needed deterrence.

Now that Americans know they are one wrong word, act, or look away from losing their livelihoods, they are more careful and will behave in a more enlightened fashion. The social-media guillotine is the humane, scientific tool of the woke.

9) Ignorance is preferable to knowledge. Neither statue-toppling, nor name-changing, nor the 1619 Project requires any evidence or historical knowledge. Heroes of the past were simple constructs. Undergraduate, graduate, and professional degrees reflect credentials, not knowledge. The brand, not what created it, is all that matters.

10) Wokeness is the new religion, growing faster and larger than Christianity. Its priesthood outnumbers the clergy and exercises far more power. Silicon Valley is the new Vatican; and Amazon, Apple, Facebook, Google, and Twitter are the new gospels.

Americans privately fear these rules while publicly appearing to accept them. They still could be transitory and invite a reaction. Or they are already near-permanent and institutionalized.

The answer determines whether a constitutional republic continues as once envisioned, or warps into something never imagined by those who created it.

© 2021 The Center for American Greatness

WTF is DEF - Dept of Transportaton Be Damned

 NEVER UNDERESTIMATE JOE’S ABILITY TO, WELL, YOU KNOW: 

Get ready for the catastrophic DEF shortage.

 “DEF is the acronym for Diesel Exhaust Fluid. Every diesel truck that has been made since 2010 is required to use it. It’s a product made of 67% urea (made from natural gas) and 33% de-ionized water. DEF is kept in a separate tank in the truck and the trucks using it will not start unless the DEF system is working properly. There are regulators inside the engine that mix DEF with the diesel exhaust to reduce diesel emissions. That’s the purpose of DEF. . . . So: US urea imports are falling, US DEF imports are falling. And US domestic manufacture of DEF is likewise falling and may very quickly turn critical. But what about consumer sales? How will that be affected? Let’s connect some dots. Here is dot one, Flying J and the Union Pacific railroad. . . . Remember that the trucks will not run if their DEF tanks run dry. DEF is sold through the same pumps at fuel stations as diesel fuel is. If a driver cannot fill both tanks, he can only park the truck.”

Bottom line:

“Unless the nation’s truckers can refill with Diesel Exhaust Fluid, the trucks will stop.

 Literally. DEF production is about to crater and the country’s largest truck-fueling company, Flying J, has been directed by Union Pacific railroad to decrease its DEF-receiving shipments by 50 percent or be 100 percent embargoed. Unless resolved, this demand may cause countless thousands of 18-wheelers to be force-parked very soon, perhaps starting this month. That would be a very, very terrible event, because according to the federal Bureau of Transportation Statistics, the trucking industry transports almost three-quarter of all goods shipped in the country. 

Union Pacific’s largest two shareholders are Vanguard and BlackRock. Vanguard’s largest shareholder is BlackRock. BlackRock’s key figure for strategy and policy is Tom Donilon, President Obama’s former National Security Advisor. Donilon’s wife, daughter, and brother work at the Biden White House. There is no wand to be waved to make the DEF shortage simply disappear. But doing nothing is both reprehensible and indefensible. There is no one better positioned to bring this looming catastrophe to the front burner than two men and two women named Donilon. Yet nothing is exactly what is being done. Why? Well, draw your own conclusions.”

UPDATE: A Knoxville friend writes: “Ha, Rural King literally had pallets of 2.5 gallon DEF containers in their stores. $6.99, then $9.99. Now none. Same at Walmart. Tractor Supply etc. All of the newer ag equipment, tractor’s, combines etc require DEF. Talk about food shortages!”

We just need a hack so it’ll run without it. But EPA will probably block this. I liked it better when Atlas Shrugged was just a novel.

ANOTHER UPDATE: They were warned this was coming 6 months ago: 

The DEF Shortage – As Prices Rise, Supply Challenges Continue.

 

Tuesday, June 7, 2022

Arizona Woman Pleads Guilty to ‘Sophisticated’ Ballot Harvesting Scheme

 2020 Election Fraud


2020 Election: Arizona Woman Pleads Guilty to ‘Sophisticated’ Ballot Harvesting Scheme

By Gary Bai
 
June 3, 2022 Updated: June 4, 2022
0:006:08

An Arizona woman has pleaded guilty to using her position in the Democratic Party to illegally harvest ballots in a ballot abuse scheme.

Another Justice Department Fail: The Flynn Unmasking

 DOJ  Unmasking of Gen Flynn  


An other Justice Department Fail: The Flynn Unmasking

Barack Obama’s crusade to destroy Lt. General Michael Flynn began months before Election Day in 2016. Flynn resigned as Obama’s Defense Intelligence Agency director in 2014 amid clashes with his boss at the time, James Clapper, over the administration’s approach to the war on terror. In early 2016, Flynn, who had become an outspoken critic of Obama’s foreign policy, joined the Trump presidential campaign; a few months later, Obama’s FBI opened a counterintelligence probe into Flynn and three other campaign associates.

Monday, June 6, 2022

MARKETS: YEAR-TO-DATE June 6, 2022

 

MARKETS: YEAR-TO-DATE

Nasdaq

12,012.73

S&P

4,108.54

Dow

32,899.70

10-Year

2.940%

Bitcoin

$29,980.65

Ark Innovation

$43.16

*Stock data as of market close, cryptocurrency data as of 7:00pm ET. Here's what these numbers mean.

  • Markets: Last week, stocks hit the brakes on a post-Memorial Day rally. But one bright spot is investor Cathie Wood’s closely watched ARK Innovation fund, which is composed of a bunch of high-growth tech stocks. It’s up 17% since hitting rock bottom on May 11, compared to the S&P’s 4.4% gain over the same period.
  • Economy: US Commerce Secretary Gina Raimondo said on CNN yesterday the US might consider lifting tariffs on some goods in a bid to curb inflation. More than $300 billion worth of imports from China still have tariffs dating back to former President Trump’s trade war.