Debt Rattle November 26 2014

[Raúl Ilargi Meijer]

Arthur Rothstein Oregon or Bust, family fleeing South Dakota drought Jul 1936 • Banking’s Toxic Culture ‘Will Take A Generation To Clean Up’ (Guardian
[See the full post at: Debt Rattle November 26 2014]

[SteveB]

From the CMI article: “Consumer spending for goods was also reported to be growing 0.27% in this report…”

Interesting how they (or are they the BEA’s words?), like Bloomberg’s and the widespread use of “unexpectedly” that you noted, just can’t bring themselves to (accurately) use the past tense about “growth”.

Contrast that with the comments on gasoline prices which “were plunging” and “fell”. No problem with the past tense when it comes to what’s often referred to as “negative growth”.

Also, am I mistaken that “negative territory” for inflation should be referred to as deflation rather than “dis-inflation”, or are they the confused ones on that?

[jal]

Those who were proposing “DRILL BABY DRILL”…
who did they think would pay for the drilling?

[E. Swanson]

Here’s a story for tomorrow’s Debt Rattle:

Oil services sector rocked by plunge in SeaDrill’s stock

How many more will hit the skids if OPEC decides not to cut their output???

[rapier]

The drop this month “doesn’t change our view that the trend in consumer confidence is moving upwards,” said David Kelly, chief global strategist at JPMorgan Funds in New York. “

I wonder if this guy can read a chart? This is the damnedest uptrend I’ve ever seen. This is a secular downtrend that is 14 years old.

https://wallstreetexaminer.com/wp-content/uploads/2014/11/Untitled43.png

Via Lee Adler

For Whom The Consumer Confidence Bell Tolls

Again, the view that the trend is up cannot be disparaged enough. It’s one thing to “believe” something is in an uptrend but when it’s a number with a history there is no possible excuse for ignoring simple facts or for reporters to just jot down such nonsense and not challenge it. I use the term “reporters” loosely. Well everyone has to make a living and being able to voice such whoppers with a straight face shows how one can make the real dollars.

[Glennda]

I’m not totally surprised that the Pope is so openly sexist, when he describes Europe

“As a grandmother, no longer fertile and lively” – women to him are stock breeders and a grandmother could not possibly be a wonderful source of comfort and wisdom.

I wonder how lively he is.

[Glennda]

On another note Occupy Oakland is still going with about 1000 activists out maneuvering the police to get on the freeway.

https://occupyoakland.org/2014/11/taken-freeway/

We are all hoping that Libby Schaaf, the new mayor of Oakland and close friend of Governor Jerry Brown will rein in the Oakland Police. Though obviously they are still strutting their riot gear. Occupy Oakland is still simmering under the radar of media. I wonder if Jerry Brown was at his local residence this week.

Here is what a friend of mine sent out of his experience last night.

Last night’s action in solidarity with Ferguson began again at Oscar Grant Plaza—I got there as a group was just returning from having occupied a section of 980. Together all of us then marched through central Oakland toward the 880 onramp near Lake Merritt BART, but a wall of OPD refused to let us approach, and another group threatened to “kettle” us. Lighting was even more challenging than on Monday evening—why are there so few lights working in Oakland?—so apologies for the “even darker” quality of the few photos I took. Also, the OPD were in a very ugly mood, seemingly out for revenge after having been outmaneuvered on Monday night.
We marched back toward Oscar Grant Plaza, encountered another mass of police, both lined up in the street and waiting by the dozen in white van after white van after white van… After a short reconvergence in the Plaza the march turned onto Martin Luther King Jr. Way and then Telegraph, and into North Oakland. I normally travel extremely light to any potentially confrontational action, and was not prepared to venture this far from home on foot, so at this point I broke off. A section of 580 was occupied later in the evening.
Nationally, over 170 cities rose up in support of Ferguson, including a huge march in New York City (one estimate up to 50,000) and 10,000 in Boston. —Bill

My retail business is on Telegraph Ave where about 10 businesses were vandalized. I was personally sanguine because of the political posters in our window including one from crimethinc called “Capitalism is a pyramid scheme”.

https://www.crimethinc.com/tools/posters.html

[DEG]

I am really impressed by your news aggregation. I peruse many such sites, but rarely do I find the layout and the selection so succinct. I just sent you a small donation. I will return. Thanks for all that you do. I know it’s a challenge to keep the pedal to the metal, but we’re all rooting you on!

[Raúl Ilargi Meijer]

Thanks, DEG.

[Author]

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