Morning Report – The 2016 Democratic race gets more crowded 5/14/15

Markets are higher this morning as bonds are rallying and the dollar weakens

Initial jobless claims came in at 264k, another strong reading. The fear that there would be mass layoffs in the oil patch so far has not come true. Plus, oil is now rebounding as firms have adjusted to the new price levels.

Inflation remains nowhere to be found, with the producer price index falling 0.4% in April. Ex food and energy, prices are up .7% on a year over year basis. This is about 1/3 of the level the Fed would like to see.

The Bloomberg Consumer Comfort Index fell slightly to 43.5 last week. 1/3 think the state of the economy is positive, while 2/3 think it is negative. Personal finances, are a net positive however. So it seems the perception of the economy is a bit worse than people’ actual financial situations.

Former Maryland Governor Martin O’Malley is planning to enter the 2016 race, adding at least the appearance of a speed bump to Hillary’s coronation as the Democratic candidate. Both O’Malley and Bernie Sanders (I-VT) plan to run to Hillary’s left. So far, Hillary has managed to avoid taking any questions about the Trans Pacific Partnership, the trade deal that has become a litmus test on the left. The media doesn’t want to mess up Hillary’s candidacy, so they are leaving her alone on this one.

17 Responses

  1. Here comes the ME arms race:

    “Saudi Arabia Promises to Match Iran in Nuclear Capability

    By DAVID E. SANGER
    MAY 13, 2015”

    http://www.nytimes.com/2015/05/14/world/middleeast/saudi-arabia-promises-to-match-iran-in-nuclear-capability.html?_r=0

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  2. Brent, the media would not get an answer from her, anyway. In fact, the media has pretty much turned on her, if you haven’t noticed, apparently in response to her willingness to completely ignore them.

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  3. I think the media is in “draft warren” mode. Once it is clear hillary is the candidate, they will go back in full support mode.

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    • Brent:

      Once it is clear hillary is the candidate, they will go back in full support mode.

      This.

      In fact it is even probable that the likes of the WaPo/NYT are intentionally getting the Hillary attacks out of the way now so that, come general election time, they can portray it all as “old news” when the right tries to make it all an issue. The idea that the MSM will ever turn on the D candidate, whoever it is, runs counter to all past experience.

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  4. Martin O’Malley is running for Vice President but he will be lucky to get Secretary of Commerce. O’Malley and Sanders only burnish Hillary’s credentials as a moderate. She should be paying them to run if she isn’t already.

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  5. I still think you underestimate the personal animosity between HRC and the media.

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    • jnc:

      I still think you underestimate the personal animosity between HRC and the media.

      We’ll see, I guess. I just think that whatever personal animosity the MSM might have for HRC – and it could be sizeable – pales in comparison to the political animosity it holds towards everyone with an R next to their name.

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      • Clinton’s ABC’s George Stephanopoulos donated $50k to Clinton Foundation without disclosing it to either his employer or his audience.

        http://freebeacon.com/politics/abc-news-anchor-george-stephanopoulos-donated-50000-to-clinton-foundation/

        “I made charitable donations to the Foundation in support of the work they’re doing on global AIDS prevention and deforestation, causes I care about deeply,” Stephanopolous said. “I thought that my contributions were a matter of public record. However, in hindsight, I should have taken the extra step of personally disclosing my donations to my employer and to the viewers on air during the recent news stories about the Foundation. I apologize.”

        I am curious to know exactly what the foundation is actually doing on global AIDS prevention and deforestation. Someone should ask Stephanopoulos, as he would surely know given that he cares so deeply about those issues, right?

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    • I’m with JNC on the HRC/msm thing. The MSM did like RWR by 1985 and has always liked McCain. Go back and count the number of times he has been the featured voice on Meet the Press.

      They seem to like Rubio too. But generally they are much nicer to Ds.

      Scott, as the article says, I thought Edgar registration would prevent this.

      http://www.nytimes.com/2015/05/15/business/dealbook/a-phantom-offer-sends-avons-shares-surging.html?ref=dealbook&_r=0

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      • Mark:

        Scott, as the article says, I thought Edgar registration would prevent this.

        A bit surprising that could happen. Someone needs to investigate/regulate the SEC. Where are their controls?!?

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  6. Don’t underestimate the media’s loyalty to the Democratic Party and their inability to comprehend a Republican presidency. In the end, the media will glorify the D and demonize the R. I cannot remember a time in my life when this did not occur.

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  7. I suppose women will bitch about this now.

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  8. This is great. It’s always amusing how fringe groups can self marginalize themselves.

    http://www.washingtonpost.com/posteverything/wp/2015/05/14/keep-harriet-tubman-and-all-women-off-the-20-bill/?hpid=z2

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  9. Problem is it replaces a Democrat with a Republican. Eleanor Roosevelt would not have generated any resistance.

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