Posts Tagged ‘Emperor’s New Clothes’

The Jive Economy

"Life is tragic, history is merciless, and societies don’t always make good collective choices." JHK 

The Jive Economy

 

Local Politicians Campaign At Nudist Colony

     What started out as a case of The Emperor’s New Clothes now has America looking like the world’s biggest nudist colony, with everyone in the long chain of power and authority admiring each other’s splendid new (imagined) pimp suits. George W. Bush (remember him?) wasn’t kidding when he discounted the function of objective reality in our national life, saying, "we make our own reality." This apparently hasn’t changed much with a new chief at the top.

     A nice example popped up last week with the GDP (Gross Domestic Product) index for the fourth quarter of 2009. The equation affects to measure the growth in economic activity and this particular release imputed that the US economy had expanded at an annualized rate of 5.7 percent. Wow, impressive! We must be digging a new Panama Canal or something.

     It turned out to be based largely on some jive about inventory "investments" — meaning, I guess, that the Ronco Corporation has laid in 1.7 million Dial-O-Matic food slicers and Showtime Rotisseries in the expectation that American stock market investors will enter 2010 creaming off their mutual fund profits to spend wildly on every infomercial prompt beamed at them over the graveyard shift at Fox News.

     Memo to nation: we’re not really growing, we’re shrinking. Is this necessarily a bad thing? I dunno.  Unlike, say, the stockholders of Toll Brothers I’m not so sure that "housing starts" represents my idea of a healthy economy — since it really means we’re destroying every cornfield and cow pasture left outside our cities, which will play havoc with our national life when the reality of our Wile E. Coyote agribusiness fiasco starts to hit home and we discover what cornfields and cow pastures were really all about in the first place. 

     Likewise, the standard processors of news media go orgasmic when they announce car sales figures of 11 million units annualized, or something like that. Isn’t that wonderful: more cars on the San Diego Freeway and the Cross Bronx Expressway. Ever larger parking requirements for the new WalMart. More trips-per-household to buy milk and Fruit Loops. Do you really think that more suburban sprawl makes this…
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Phil's Favorites

Beirut explosion: the disaster was exceptional but events leading up to it were not - researchers

 

Beirut explosion: the disaster was exceptional but events leading up to it were not – researchers

A trade in waste flows from Europe to Asia. Avigator Fortuner/Shutterstock

Courtesy of Scott Edwards, University of Bristol and Christian Bueger, University of Copenhagen

At the time of writing at least 100 people have lost their lives and a further 4,000 have been wounded following an ...



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Zero Hedge

Florida COVID-19 Cases Top 500,000; NYC Sets Up "Check Points" For Travelers: Live Updates

Courtesy of ZeroHedge View original post here.

Summary:

  • Florida cases top 500k
  • NYC institutes "check points" for travelers
  • Chicago public schools to reopen online only this fall
  • UK invests $18mil in Scottish vax factory
  • JNJ strikes huge vax deal with White House
  • COVID deaths top 700k
  • US to send DHHS Secretary Alex Azar on historic visit to Taiwan
  • Czech Republic reports biggest jump in ...


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The Technical Traders

Walk Through the Gold and Silver Charts to See What to Expect

Courtesy of Technical Traders

Check out the analysis of this morning’s Gold and Silver charts by our own Chris Vermeulen, Chief Market Strategist and Founder of TheTechnicalTraders.com, to see what is in store for precious metals. Make sure you check out our Gold and Silver article from August 4th, 2020 for additional context behind our predictions and rationale for continued price appreciation.

Learn more about our ...



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Biotech/COVID-19

What the huge COVID-19 testing undercount in the US means

 

What the huge COVID-19 testing undercount in the US means

Health care workers use a nasal swab to test a person for COVID-19 in Pembroke Park, Florida. Joe Raedle / Getty Images News

Courtesy of Melissa Hawkins, American University

Researchers from the Centers for Disease Control and Prevention and other institutions recently published a study which estimated that the true number of people infected by COVID-19 could be six to 24 times high...



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ValueWalk

Beyond Meat Has Not Disclosed Its Environmental Effects

By Jacob Wolinsky. Originally published at ValueWalk.

A recent S&P Global Market Intelligence Trucost analysis found that Beyond Meat Inc., the maker of plant-based meat alternatives, has not disclosed the full extent of its environmental impacts. This includes the amount of greenhouse gases emitted or the volume of water discharged.

Q2 2020 hedge fund letters, conferences and more

Beyond Meat Has "0" Disclosure Of Environmental Impacts

Key insights from the analysis include:

  • Beyond Meat’s weighted environmental disclosure ratio, which shows what percentage of its environmental impacts it discloses...


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Kimble Charting Solutions

Is the US Dollar Nearing Bottom? Or Is It Different This Time?

Courtesy of Chris Kimble

The U.S. Dollar ran into a perfect storm in 2020: a pandemic (Coronavirus), an easy Federal Reserve, and trillions of dollars in government stimulus.

The result has been a steep decline in the greenback.

Looking at today’s chart, however, suggests that the US Dollar may be nearing a bottom. That is if recent history proves true.

The Dollar is testing its 9-year bullish up-trend support at (1) and US Dollar bulls are disappearing. In fact, investors are the least bullish the US Dollars (20% bulls) since 2011 at (2). Notice that each ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Sunday, 29 March 2020, 07:00:37 PM

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Comment: Silver Shorts Are In a Bind | Ted Butler youtu.be/qQc0AoJp-Q8



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Comment: 5 Questions From You for Luke Gromen youtu.be/nVZD_fuxbQE


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Digital Currencies

Twitter Says "Human Error" And "Spear-Phishing Attack" Responsible For Massive Bitcoin Hack

Courtesy of ZeroHedge

Twitter suffered from a major hack about two weeks ago and has now said that its staff was tricked by "spear-phishing", which is a targeted attack to trick people into simply handing out their passwords. 

Twitter staff were targeted through their phones, according to a new report from the BBC. The attacks then allowed hackers the ability to Tweet from celebrity Twitter accounts. Twitter has said it was "taking a hard look" at how it could improve its permissions and processes.

"The attack on July 15, 2020, targeted a small number of employees through a phone spear phishing attack. This attack relied on ...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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