Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Memetrics
novahockey
quarterback
ScottC
yellojktVital Statistics:
Stocks are higher this morning after good numbers out of Nvidia. Bonds and MBS are flat.
Existing home sales fell 1.9% to a seasonally-adjusted annual rate of 4.14 million. “Home sales changed little overall, but the upper-end market is experiencing a sizable gain due to more supply coming onto the market,” said NAR Chief Economist Lawrence Yun.
Housing inventory is up, which is good news for activity overall. It rose to 1.21 million units which was a 9% bump from last month and 16% from a year ago. This represents a 3.5 month supply at the current sales pace. This is still on the low side – a balanced market is about six month’s worth – but at least we are off the record lows we have seen over the past couple of years.
The median home price rose 5.7% YOY to $407,600. “Home prices reaching a record high for the month of April is very good news for homeowners,” Yun added. “However, the pace of price increases should taper off since more housing inventory is becoming available.”
The FOMC minutes from the May meeting support the “higher for longer” narrative.
Participants noted that they continued to expect that inflation would return to 2 percent over the medium term. However, recent data had not increased their confidence in progress toward 2 percent and, accordingly, had suggested that the disinflation process would likely take longer than previously thought. Participants discussed several factors that, in conjunction with appropriately restrictive monetary policy, could support the return of inflation to the Committee’s goal over time. One was a further reduction in housing services price inflation as lower readings for rent growth on new leases continued to pass through to this category of inflation. However, many participants commented that the pass-through would likely take place only gradually or noted that a reacceleration of market rents could reduce the effect.
Participants discussed the risks and uncertainties around the economic outlook. They generally noted their uncertainty about the persistence of inflation and agreed that recent data had not increased their confidence that inflation was moving sustainably toward 2 percent. A number of participants noted uncertainty regarding the degree of restrictiveness of current financial conditions and the associated risk that such conditions were insufficiently restrictive on aggregate demand and inflation.
Some of the participants raised the possibility that unusually strong seasonal patterns might have been behind the negative surprises in inflation at the beginning of the year. They also noted signs that the consumer is beginning to run out of steam, noting increases in credit use and buy-now-pay-later program usage.
It looks like the economy slowed in April, according to the Chicago Fed National Activity Index (CFNAI). Consumption and Production indicators drove the decrease.
Filed under: Economy |
All Things in Moderation 
Pretty on-brand for the krauts, to be honest.
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Pretty remarkable – Trump drew thousands on people to a rally in the Bronx and was not interrupted by protests even one time in an hour and a half speech.
How did the Democrats let this happen?
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This DKos post has some pretty damning inadvertent admissions.
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This comment, for example:
canaljones
May 23, 2024 at 09:31:00 PM
It’s Crotona Park. Strange that his campaign chose that park, it’s a very local park not easily accessed by subway or highway. I’m surprised even a thousand people showed up
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Love the Ukrainian flag to show which side the poster is on.
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Exactly! Otherwise I assume they’re a Putin toadie.
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Interesting read:
https://www.liberalpatriot.com/p/state-of-play-bidens-electoral-college
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Democrats have the overwhelming advantage in vote counting. Trump will lose.
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McWing:
Democrats have the overwhelming advantage in vote counting. Trump will lose.
https://x.com/thebabylonbee/status/1794080939489857792?s=61
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lol!
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Sullivan is actually pretty good here:
https://andrewsullivan.substack.com/p/the-psychology-of-being-in-a-minority-abb?selection=148d04ef-4f95-4321-8fd1-d2c165e30091
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This is a really interesting piece on the killer whale boat rammings in the Mediterranean.
Thinking about getting myself a salmon hat.
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Adult Orcas are groaning at the Salmon Hat Challenge.
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She was the first victim of Fonda’s Pussy Boycott.
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Serious question, what does Sotomayer want us to think about her crying over decisions? What conclusion about her does she want her audience to draw?
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Please be Wickard and Chevron
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Brent:
Please be Wickard and Chevron
I know Chevron is up for reversal, but is there a case challenging Wickard? That would be awesome, but I wasn’t aware that might be in the cards.
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“What conclusion about her does she want her audience to draw?”
That the majorities decisions are so outside the pale that she’s moved to tears. It’s all part of a campaign to discredit the court ahead of any potential election rulings this year. See also the whole Alito flag BS.
They are now going after the Washington Post for not reporting it earlier.
https://archive.ph/SQ13z
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A follow up question, is Sotomayor trying to normalize women’s weeping at work? If so, why does she think it should be normalized?
In all honesty, someone’s policy decision at work has at times fundamentally altered and/or forever changed the course of my life, but I have never felt like weeping about it at the workplace.
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In all sincerity, I find her admission astounding and fascinating.
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I find it par for the course these days. Part of the whole “The Future is Female” etc.
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And it’s celebrated:
https://substack.com/@grrlscientist/note/c-57404253
The apparent argument is that women are entitled to a work environment free of this sort of stress.
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Perish the thought.
Biden intends to initially address the verdict in a White House setting — not a campaign one — to show his statement isn’t political,
https://www.politico.com/news/2024/05/24/biden-trump-trial-verdict-00159981
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As Matt Taibbi noted,
“Stop The Bullshit
Going on strike from it all.
Matt Taibbi
May 25, 2024″
https://www.racket.news/p/make-the-bullshit-stop
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I’m fascinated by this diary because the commenters assume Trump is afraid to debate. From the right’s perspective it’s Biden (or his staff) that are afraid to debate. Each side fervently holds the opposite view with equal measure.
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For Memorial Day:
‘Contact. I.E.D.’
May 26, 2024, 6:00 a.m. ET
By David French
https://archive.ph/jJ94t
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Credit where it’s due, the NY Times had a good piece today on the meaning of Memorial Day in the age of Vietnam, Afghanistan and Iraq.
I always thought that Memorial Day and Veterans Day should be switched.
November seems to be a more appropriate time of the year to honor the dead and the traditional moment of silence on the 11th hour of the 11th day of the 11th month seems to fit better.
Whereas an early summer day in May with cookouts and the occasional parade seems more fitting to celebrate the living veterans.
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I know I’m supposed to feel guilty or some shit over this but in reality it fills me with pride.
https://www.sciencealert.com/one-super-predator-instills-more-fear-in-marsupials-than-any-other-creature
Top of the food chain motherfuckers!
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Sooooo, Romney/2012 will reintroducing slavery is less worse than Trump 24.
This feels like attempts to induce assassination.
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“A pervasive sense of fear has settled in at the highest levels of the Democratic Party over President Joe Biden’s reelection prospects, even among officeholders and strategists who had previously expressed confidence about the coming battle with Donald Trump.”
They forgot to include loathing.
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They keep trying:
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The elephant in the room is that the government is fudging the data for the election.
It would explain why 525 basis points of tightening hasn’t caused a recession – because true inflation is higher than 5.25% so real interest rates are still negative and therefore stimulative.
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The ultimate fix is in:
You don’t even have to specify what the previous crime was, let alone convict Trump of it. Just assume he committed a crime, any crime will do.
It’s like the examples in economic classes, assume a hammer.
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Of course the fix is in – this is a show trial.
People in Malaysia and Venezuela are side-eyeing the US, saying that this is some banana republic stuff.
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I watched this press conference and found it hilarious. I was stunned that a professional campaign would allow DeNiro to behave as he did.
The fact that DeNiro walked up wearing a mask is just hilarious.
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The stench of desperation from the Biden campaign is worth far more than any other media Trump could have.
There’s a certain percentage who don’t care about ideology who just want to vote for the winner.
Taibbi got it a few weeks ago:
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“The fact that DeNiro walked up wearing a mask is just hilarious.”
Maybe the Trump campaign should run this as an ad.
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I would!
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They should show De Niro in the mask walking up, play that quote above and then play Biden saying that Mitt Romney would put black people back in chains.
And simply say we’ve heard this all before.
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This is what I call voter outreach:
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The non crazy progressive take on Trump:
“The Trump Cinematic Universe
Meditations on a rally in the Bronx
Ross Barkan
May 28, 2024″
https://rosselliotbarkan.com/p/the-trump-cinematic-universe
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The other thing that the media underestimates about Trump is that DJT is a New Yorker in construction, which means he has dealt with the mob, crooked politicians, the media, and NY City Hall for decades.
He isn’t intimidated by these people, unlike a typical Mitt Romney or John McCain.
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Another journalist balks at the system.
https://triggerdiscipline.substack.com/p/im-quitting-the-intercept
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Presuming that closing arguments finsh by, say, noon tomorrow, my prediction is that Trump will be a convicted felon by no later than noon Thursday.
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New campaign song:
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