Markets are getting rocked to start the new year, with China limit down overnight and Euro markets down anywhere from 2% to 4%. Bonds and MBS are up.
The ISM Manufacturing Index fell to 48.2 from 48.6 in December, which is the second month of contraction in the manufacturing sector. Blame the dollar. A 48.2 reading in the manufacturing PMI would normally be associated with GDP growth of around 1.6%.
Construction Spending fell 0.4% in November and October’s number was revised downward from 1.0% to 0.3%.
Foreign demand for US real estate will continue to grow in 2016. Foreign purchases of US real estate were $87 billion last year compared to $9 billion in 2009. Berlin, London, New York City, and San Francisco are the markets where global hot money are headed.
Tensions are increasing in the Middle East, with Saudi Arabia cutting diplomatic ties with Iran over the execution of a cleric. Saudi Arabia is struggling since its economy is based on redistributing oil money and there hasn’t been a lot of oil money to redistribute lately. They may have miscalculated on trying to drive out fracking – it can be turned on and off with very little expense and time.
Filed under: Morning Report |
Fristies!
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Everyone freaks out over fracking but according to my daughter, it’s not really bad for the water table or anything else really, and we need the oil from it. She’s doing a lot of community outreach in CO re fracking and has done pretty extensive research on it.
She was actually in charge of her company selling off the drilling rights to a big area she convinced her bosses, and the buying party, has a lot of oil in WY and CO. It’s one of the only real hot drilling areas right now because most of the companies can’t afford to drill until the price per barrel comes back up!
It’s fun picking her brain on the subject of oil……LOL. Most of her friends she graduated with, who are now in Houston, are in fear of losing or have lost their jobs but her Denver/Houston company is in good shape and she gets to stay in Denver indefinitely.
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LuLu,
If love to hear her take on this.
http://www.goodreads.com/quotes/65213-briefly-stated-the-gell-mann-amnesia-effect-is-as-follows-you
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I’m sure she’d get a kick out of that and would probably verify with her fiance (he’s much more diversified) what’s really going on in the world, as she is one of those with a one track mind and interest.
Right now it’s oil and the science of getting it out of the ground. The rest would be gibberish to her and her first instinct would be not to trust anything she read……….I think!
But, they’re still democrats, so who knows???
I’ll send that to her though……..she’ll laugh at least……:)
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OMG–she’s sold out!
🙂
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LOL, you’re not the first to say that……
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Things rarely look the same on the inside as they do from the outside. Though one should generally expect video of fracking the feature tap water catching on fire might be more geared to sparking emotional reactions than rational analysis.
Much as with nuclear power, a lot of the “problems” with things tends to be in the details, not in the existence of a thing itself. I would assume tracking can be done poorly and destructively, or well and effectively. And mistakes can be made in any venture, but certain folks spin those out into errors characterizing an entire category, thus category = bad.
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Hat tip Ace:
https://archive.is/rd8cZ
In it’s way, reflects my experience as a young left-of-center liberal in art school. Different details but the same: holy-crap-this-isn’t-what-I-thought-it-was moments.
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Imagine if, say, Sarah Palin suggested this in ’08.
http://m.huffpost.com/us/entry/hillary-clinton-vows-to-investigate-ufos_5687073ce4b014efe0da95db?utm_hp_ref=politics&ir=Politics§ion=politics
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I imagine no one will believe anything the federal government says about them or about Area 51, but one of the first non-fiction books I ever read was The Flying Saucers are Real, by Donald Keyhoe. See: https://en.wikipedia.org/wiki/The_Flying_Saucers_Are_Real
I was 7. Having been fascinated at such an early age, I personally would have welcomed Palin’s suggestion if she had made it and I welcome HRC’s.
I am not the mainstream media. The MM would have snickered at SP, and may yet do so at HRC, but not as openly nor as immediately.
You should read the book sometime. It was well documented. I’ll bet Podesta did.
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She would have been treated differently. Whacky suggestions that are non-partisan are not treated the same with members of your own party as they are with the other party. Thus, if Hillary had said something about being the closest state to Russia, and said something about her having been there, none of the MSM would likely have made a huge deal of it. Basically, anything that Sarah Palin said that did not directly bear on political orientation would be treated differently from Hillary Clinton. Because, you know, it’s sly or clever or interesting when your person says it, and crazy and lunatic and their obsessed when the other person says it. Because, you know. Tribal membership hides a multitude of sins.
If Hillary came out for a federal open-carry law, the reaction would be negative, though still probably gentler than if Palin did it. I think she’d have to propose a big, no-strings-attached tax cut on the 1% to really have everybody turn on her.
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brendan james @deep_beige 24h24 hours ago
Inside every liberal there’s a trigger happy, law-and-order, armchair executioner waiting to get out
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But only for white businessmen, evangelical Christians, white militia types, and pro-life sorts. 😉
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hey, a bunch of weirdos took over an abandoned field station in a middle of a national forest. let’s everyone freak out.
i imagine this resolves itself with the first good snow.
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It’s about 4 degrees there now; I doubt they’ll last much longer.
BTW, congrats on the Stillers yesterday.
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It’s abandoned? What good does it do them to “take it over”? And what laws are they actually violating? Trespassing on government property?
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It’s not really abandoned, just closed for the season. And it’s breaking and entering at the least.
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http://www.vocativ.com/news/265619/the-drudge-report-report-the-definitive-guide-to-how-drudge-influenced-2015/
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Uh,oh NoVA: Looks like Vox is on to you:
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So when that bill passes to make it illegal for citizens to know what congress is doing or what laws it has passed, we’ll know how it happened!
Sunshine Laws? Or is that not a thing any more?
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” Not coincidentally, many of the deals are deeply transactional — represented a least common denominator nexus of interest group demands rather than a high-minded, principles-based effort at reform.”
BAHHBHAHAA “high-minded, principles-based effort at reform.”
you wanted compromise right? this is what it looks like.
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So, all these progressives who want to bomb the Oregon militia are going to sign up for a career in BLM law enforcement right? i mean ..if i’m required to go enlist to have an opinion on deploying military force overseas. seems fair to me.
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Wanting to bomb the militia fools in Oregon is just plain silly. I say just turn the heat off.
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Does it even have heat? i thought it was a cabin in the woods and a fire lookout tower.
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Progressives are always trying to “make a point”. Turn off the electricity and water. Cabin in the woods or not, I doubt they are drawing their water from an unpowered well or have no electricity.
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NoVA, think Trump is savy enough to run on finally selling off a lot of the federally owned western land?
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No one is that smart, unfortunately.
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I don’t know that it would help him any. I guess it couldn’t hurt. But the R’s have that locked down. Maybe in NV? and to make NM competitive? But to answer your question, no, i don’t think he’s capable of modifying his message or seeing an opening for a new a policy position.
http://assets3.bigthink.com/system/tinymce_assets/944/original/federal_lands.jpg?1422311293
check this out: http://www.270towin.com/maps/aN4pd
I’ve got the usual and CO and NM going blue. along with NH.
That leaves OH, FL, VA, and NC.
Can Trump win there? He basically is “Florida Man”. sure, that’s possible.
OH? if anywhere, his message will resonate there.
NC has enough of the south left in it that i think he can win there.
So that leaves VA. and voters like me and you.
in that case …
Mr. Burns: Good bye, Springfield. From Hell’s heart, I stab at thee!
S04E17
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In other Oregon news, BC is now available OTC
http://wkrn.com/2016/01/04/oregon-becomes-first-state-to-make-birth-control-available-over-the-counter/
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What’s up with these goobers?
http://www.nbcnews.com/news/us-news/meet-ammon-ryan-bundy-activists-leading-oregon-standoff-n489766
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Who do we think is the most polarizing, Donald Trump, Hillary Clinton or Barak Obama?
I say Obama.
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Only because he’s the current incumbent. Each recent president has been more polarizing than the previous one.
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What kind of president wouldn’t be polarizing? A lump of clay? A smiley face emoji?
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Speaking of polarization, Smith and Wesson just guided up earnings and revenues big time…
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I read JP Morgan is revising 1Q GDP
projection downward to 1.0%.
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Atlanta Fed took their estimate for Q4 to +0.7% today
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They increased their estimate by .7? as in 2.0 to 2.7? Or is their estimate for Q1 GDP 0.7%?
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estimate is positive 0.7%.. down from 1.3%
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Re: the mental health aspect of the executive action (ie what other branch of government) on guns. they basically want to waive HIPAA privacy requirements. How can they do that? quiet bagger.
http://www.healthdatamanagement.com/news/hhs-hipaa-gun-control-background-checks-rule-46569-1.html
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Thank goodness there hasn’t been some sort of initiative to get physicians to utilize Electronic Medical Records so that the government could search them looking for the “mentally ill” to add to a list of Undesirable Gunowners!”
Wait…
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It’s all a strategy to develop End Of Life centers, so the suicidal cannot purchase their own guns to end their life, and have to do it through the government centers. Expect an an additional “Suicide Tax” on the inheritance at this point to pay for these important End of Life centers.
Yup. They’re playing the long game.
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