Monday, June 8, 2015

Let's catch up on the news

US still doesn't want to move higher, and Japan is being sold off by Whiteys who hate their fantastic GDP data. With that in mind, here's the news:

New Deal Demoncrat - weekly indicators. I'm actually beginning to question whether some of the indicators NDD follows are worthless bullshit. Baltic Dry is a great example, as is steel. Frankly, I put more weight in things like tax withholding.

Calculated Risk - hotels on pace for record occupancy in 2015. Therefore the US must be in danger of collapse! Sell sell sell!

Bespoke - the bullshit market continues. Less than 42% of S&P 500 stocks are above their SMA(50). So is it a good time to buy, then?

Calculated Risk - prime working age growing again. As an aside, demographics were what caused the increasing interest rates and inflation of the 60s-70s. Basically, there was more demand for loanable funds than there was supply. This time, there's an incredible supply of loanable funds, and little demand. Remember that whenever you're reading about "secular stagnation".

IKN - the PWC 2014 mining review. For people who actually want to read analysis instead of just trading on the chart. - trouble brewing in South Africa's mining sector. They're all going to go on strike. South Africa's a meaningless backwater in the modern gold mining world, but I'm sure Americans don't know this.

Economist's View - Krugman on Texas. As it turns out, Texas has been no economic miracle. It just made money off oil, and Perry just wasn't stupid and incompetent enough to turn that into a disaster: until now that the shine has come off the oil industry. Kinda like Alberta. And thus, you might reasonably expect that Texas will swing Democrat in 2016. At that point, it's goodbye Republicunts forever.

Slate - forcing low-wage workers to sign noncompetes is vicious and stupid. Seriously? A guy who makes sandwiches is asked to sign a noncompete? And clowns like Mankiw still try to push the fantasy that labour is a market with perfect competition?

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