Posted by drb2
@ 22:55 on June 1, 2018
RE: “manufacturing, that it is the birth of all wealth, and it supports ALL other jobs.”
I get your point, but I have a small quibble – IMO, “Manufacturing” is a level or two up from the “birth of all wealth”.
There was a Gold Eagle poster many, many years back. a German maybe. can’t remember his name, but I will never forget his constant refrain – “Nature Debited, Man Credited”.
His point was that the Farmer, the Miner, and the Fisherman through their labor, extracted wealth from the earth.
All humanity relies on their effort. They stop…. there is NO manufacturing, no anything. Without them, EVERYBODY else is back to scratching out a living as a hunter gather. They are the three pillars on which civilization is built.
Posted by Maya
@ 21:44 on June 1, 2018
Fissure 8 today, still fountaining 200 ft. Courtesy USGS.
Was radio backup for a convoy of hams & 9 trucks evacuating people & stuff from Kapoho area. Civil Defense says be out NOW. Lava may cut off beach road escape route any hour now. Watching this flow carefully as it is ‘balanced’ on the top of the ridge and could break out to the north side toward me. Lower Puna is being shredded to ribbons by multiple flows down the south side of the ridge. Pohoiki harbor will be isolated, as will Kapoho.
The real disaster story is the homeless refugees coming out of the area… some 2500 more from the Kapoho area, on top of the earlier 2000 from Leilani Estates. These are all people looking for a new home who have lost everything. There are not enough homes available to house the displaced people. County, Red Cross, and Salvation Army are running large shelters in the area, but this is a temporary solution. People need long-term housing.
Posted by ipso facto
@ 20:56 on June 1, 2018
“Israel still has every intention of regime change in Syria”
I’m sure that’s what they’d like but I think they’d settle for a peace treaty and Hamas and Iran out of the country. JMO
We sure messed the whole region up with the second invasion of Iraq. Neocons must have been delighted.
Posted by Buygold
@ 20:20 on June 1, 2018
I guess the problem I have is that even if Iran pulls back at the request of Russia – it will never be enough.
Israel still has every intention of regime change in Syria.
Whatever, I really don’t care. The whole region could be turned to glass and the world would be better off IMHO.
Posted by goldielocks
@ 20:10 on June 1, 2018
As you would say Roger that and they’re still doing it. I saw the Fed use that term that Trump would cause wages to be raised like that was a bad thing, would cause inflation, to raise interest rates.
Instead Trump outsmarted them and lowered taxes giving many a small raise without wage increase immediately and it started bringing money home.
Notice they never say anything about Governemt wage spiral of over paid Gov workers where private sector gets paid much less for doing the same thing and no pension, we’re paying for in taxes. Then they still want to tax business that bring jobs here. Then outsourcing multinational companies billion dollar salaries while they over taxed and over regulated small business in the US. No mention of that either. Instead they side tract on media fake news or using it trying to get Americans jobs that stuck though the hard times. Now things look a little better till Gov tax again they want their jobs. Typical
Posted by ipso facto
@ 19:28 on June 1, 2018
“Russia opposing Iran”
That’s a puzzler BG. Maybe Iran and Russia aren’t really so tight. Perhaps the Russians are attempting to forestall a general Israeli attack into Syria, Which will probably happen if Iran keeps building bases there. It doesn’t help anyone if Iran installs beau coop missiles into Syria in
order to attack Israel.
“slaves” I prefer “serfs.” 🙂
Posted by Buygold
@ 18:18 on June 1, 2018
What does Russia get out of the deal by screwing their ally?
The longer I live, the more I think all these countries are in it together. Owned and operated by the Rothschild Central Banks. Iran, North Korea and Syria are the central bank holdouts.
I guess for Russia and Putin, the allure of money printing is just too hard to resist.
We are all slaves.
Posted by Mr.Copper
@ 18:16 on June 1, 2018
Roger that. Pretty much agreed. But during the good high pay years before 1970 nobody really cared about the prices. They were pretty stable. It after 1971 that prices got higher because they were forced to de-link gold and the dollar.
Naturally nobody wanted to lose purchasing power, so they demanded and got raises to stay even. Unfortunately, the fake media taught everyone the WAGES were causing the higher prices. The scumbags even named it…”The Wage Price Spiral” and claimed “The United Auto Workers Are Ruining The Economy”.
The excess printing from 1934 to 1971 caused a need to de-link the Dollar because the Bernie Sander foreigners were collecting out Gold at $35 when it was really $140. The minute we stopped redeeming or giving them our Gold, they started taking our manufacturing businesses. On top of that the Fed raised the prime rate to 21% to remove money in circulation. Lots of businesses got hurt. Savers had a good time.
They REFUSE to LOSE.
Posted by goldielocks
@ 17:58 on June 1, 2018
I believe in fair trade as long as that trade is fair and isn’t something we already have that’s taking jobs away from people here.
However sometimes diversity keeps prices down when prices are getting too high not because of cost but greed because a company had a corner on things. Comcast for instance. They have areas that are exclusive to them so no one can compete with them. Apparently they bribed some politician. However Satellite doesn’t require underground wires so still can. These day instead of competing even against each out the difference is minimal because they just look at what the other is doing and if they’re raising pices they raise theirs too.
I remember calling for a quote once on so called cheaper car insurance years ago. One of the first things they asked was how much are you paying now? What does that have to do with their prices!! ?? I told them Im not going to tell you. I want a unbiased quote which wasn’t better anyways.
It’s now appeasing the shirts and shoes at the stock board. They’re all playing their growth game at the expense of the consumer. It’s no longer a business with real people who are supporting them making them rich but a stock competition making the consumers poor. Then comes the point people aren’t gonna pay anymore or get priced out like housing and we have a crash. They never learn.
Posted by Mr.Copper
@ 17:35 on June 1, 2018
Our Gov’t who we pay taxes to, was supposed to protect us from poverty. They should have taught kids in school about manufacturing, that it is the birth of all wealth, and it supports ALL other jobs. They should have been told to avoid and complain about imported products.
Even OUT of school. The way they taught us on TV to stop smoking, love immigrants, and use seatbelts. Evidently the Americans were “sold out” by a pro foreign world gov’t corrupted gov’t Media. They actually taught everybody in the 1970s that imports were good for us, because we would get cheaper high quality products.
It was true short term, but very bad long term. I was in manufacturing and automatically knew better back then and started warning people but it was hopeless. If only the Americans knew better. Such a shame what happened. The people gleefully did exactly what the global world trade gov’t influencing the USA, wanted them to do. Buy Imported cars and every other damn imported thing.
And listen to the cry babies, From Canada, Mexico, Europe etc. They don’t want lose the “free cell phone” that the global Bernie Sanders gave them. They should all apologize and be THANKING for what they have gotten from the USA. I have absolutely ZERO sympathy for foreign nations. And or the anti American domestic businesses that import.
Posted by ipso facto
@ 17:09 on June 1, 2018
Russia OKs Israeli strikes on Iranian targets deep inside Syria — report
Israel and Russia have reached an agreement green-lighting Israeli strikes on Iranian targets in Syria, as well as the withdrawal of Tehran-backed troops from Syria’s border with Israel, according to an Arabic media report Friday.
According to the Arabic-language daily Asharq al-Awsat, the agreement will see Iranian forces leave southwestern Syria, while allowing Israel to strike Iranian assets deep in the country. Israel agreed not to attack Syrian regime targets, the report said.
cont. https://www.timesofisrael.com/russia-oks-israeli-strikes-on-iranian-targets-deep-inside-syria-report/
Posted by ipso facto
@ 17:02 on June 1, 2018
WASHINGTON (AP) — The U.S.-North Korea summit is back on track, President Donald Trump announced Friday, ending weeks of uncertainty about his historic meeting with Kim Jong Un to discuss ending the North Korean leader’s nuclear program.
Trump made the announcement, just a week after he had said he was canceling the Singapore summit, following a more than hour-long meeting with a top North Korean official who delivered a letter from the North Korean leader. The official, Kim Yong Chol, posed for photos with Trump outside the Oval Office, and they talked amiably at Kim’s car before he was driven away.
https://apnews.com/e4473a137779495498aca62e898e319f/The-summit’s-back-on:-Trump-welcomes-NKorean-to-White-House
Posted by Buygold
@ 15:59 on June 1, 2018
COT’s – whatever…
https://www.cftc.gov/dea/futures/deacmxlf.htm
days, weeks, months, years – the game never ends
Posted by goldielocks
@ 15:39 on June 1, 2018
Deal by city offered subsidies for pay raises for employees. Starting appears to be 11 hr employees finding it hard to make ends meet.
Disney, Wincome consider nixing new hotels if Anaheim ballot measure forces employee pay hike
Posted by goldielocks
@ 15:05 on June 1, 2018
I watched a part of undercover boss. They realized they were underpaying their workers for the amount of work they were doing. One girl told her boss she had MS and her medicine was costing about 2400 a month out of pocket after insurance. She was getting help with and living with her parents. I thought it was bad when my mother had to pay 1000 a month to keep Leukemia in remission. They could afford it but had to cut back on spending money on their grand and great grand kids, many can’t. This is a common problem for many buy food or don’t eat or worse have to live with someone else and buy medicine.
People are dying because they are cutting back on their medicine because they can’t afford it.
Trump is the only one that even addressed the problem other than BS talk for votes.
Posted by goldielocks
@ 14:24 on June 1, 2018
When you have a average pay under this 26 hr even if skilled job but make too much for any gov benefits or discounts and you get hit with a 1000 dollar bill for medical insurance for the family and still have deductibles on top of rents going up on top of food and gas up they’d lose money working. The bills would be higher than the pay.
This medical alone holding people back when they have kids worried about making too much to get help for their kids with medical insurance and rising housing costs.
Maybe some of these parents are dropping out with only one working so as a family they don’t make too much because if they do they’ll be worse off.
I wonder if their counting those dropping drawing SS too.
More and more going off the grid too then there stuck out their with the drug epidemic and mentally ill. They got priced out. Read a story about a working mother sleeping in her car with her child at rest stops. You can join a gym and take showers there.
That’s another cost, child care. Taxes, child care cost, probably take a third to half their checks right there, medical, housing, food, gas, utilities, phone, car insurance, house hold needs, God forbid if they want wifi or cable or take their kids to Disney or have a vacation, plus school needs and kids have their own needs. Meanwhile criminal brain dead politicians keep taxing and opening borders taxing for them too.
That reminds me I wonder what ever happened to Dusty and the Dusty trails.
Is he still in his camper traveling or did he settle down. I worried about him Traveling and camping alone with banditos out there.
Posted by Richard640
@ 13:26 on June 1, 2018
America is a socialist country masquerading as a capitalist country–China is the inverse.
Posted by Mr.Copper
@ 9:54 on June 1, 2018
I remember when that trend started, a long time ago. People were quitting their jobs and started buying and selling used cars. Dodge Darts, Plymouth Dusters, Chevy Novas’ etc. You were allowed to do I think 5 cars a year without a dealers license. They flipped a lot more than 5 cars too. Nobody was counting.
They would park them in shopping center parking lots with for sale signs on them. Later on the licensed dealers complained, because they had overhead, and cops started ticketing them. Same thing happened with small part time gun dealers. The big dealers complained (protectionism) and they pulled all the licenses for at home car and gun dealers. You now had to rent a separate place of business.
Many others went into other types of tax free cash self employment. It didn’t pay to have a job unless of course you had a union or government job. The private sector small business jobs were worthless. The owners didn’t make that much profit themselves with all the overhead and taxes so were very stingy with pay raises.
Posted by Buygold
@ 9:50 on June 1, 2018
Yeah, that’s a lot of people out of the labor force. Do you remember back in the 90’s, pre 2001 collapse when a routine jobs report was +350 or 400K?
Now the markets have an orgasm over +200K
The real question is how those 95 million people are surviving. Most people are barely making it WITH a job.
UVXY or TVIX might provide a decent entry point today because you may be right about next week. DB could resume it’s decline and Italy and Spain may rear their ugly heads over the weekend. You know damn well if DB is in trouble the news will come out late today after the markets close.
Posted by Richard640
@ 9:34 on June 1, 2018
The number of people not in the labor force increased by another 170K, rising to 95.915 million, a new all time high.
Posted by Richard640
@ 9:15 on June 1, 2018
no short squeeze, so far in DB…which may indicate that this opening rally in U.S. stocks may reverse by the end of the day…and the Euro/Italy/Spain crisis will resume next week…
Posted by Mr.Copper
@ 8:52 on June 1, 2018
If the economy is so great, why the tariffs? They said average wages are 26.90/hr. That’s about $1000/week before taxes. That means to me a single person can afford $1000 a month for shelter. If married and no kids, $2000 a month.
Posted by Mr.Copper
@ 8:31 on June 1, 2018
Even though CBs have a printing press, and lend money out, they can’t force the borrower to make payments when the house they bought is worth less than what they own. What a big mess that created in 2008. But the printing press was used to bail it all out. They may as well just give people money instead of a loan.
Posted by Richard640
@ 7:51 on June 1, 2018
US Equities Are Surging, Here’s Why
After tumbling yesterday, US equities are surging this morning ahead of payrolls…
Here’s why:
- New anti-establishment Italian government? Check.
- New anti-establishment, socialist Spanish government? Check.
- Trade war between the US and Europe, Mexico, & Canada? Check.
- Deutsche Bank (most systemically risky bank in the world at one point) downgraded to a B-handle? Check.
So all we need now is a dismal jobs or wage growth print and bad news will be really great news.
But did Trump just spoil the hopes of a bad print?
Posted by Richard640
@ 7:41 on June 1, 2018
The “global dow” index is up a strong 15pts. I guess it’s true…what people have been half joking about–as long as the CBs have a printing press there csn be no more recessions-business cycles–or crashes…there has been a panic into Italian bonds
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