Blues for Donald in D# Major

The most important news out of Tuesday, not widely discussed that I've seen, is that right-to-work got drowned by a blue tsunami in Missouri, the 'Show Me State'. It seems that lots o folks there have figured out that The Manchurian President has been lying all the time. As Rachel Maddow tells us, "watch what they do, not what they say".

The Manchurian President keeps taking from the many poor and giving to the few rich. "Vote for George O'Brien, get Charley off the MTA".

Real growth can only happen if aggregate demand grows, and that has never happened while income and wealth concentrate as they have over the last few decades. Rich people don't buy/spend as much of their moolah, per dollar, as the poor. They chase instruments, and they've had a big appetite for high-return/low-risk such; not that such actually exist, naturally. Which gave us the Great Recession. What will be next? I don't have a firm answer. May be soon.

Along that line, we have this reporting that Treasuries are inching toward 3%, and the pundits are losing their minds. Let's see. Warren is sitting on $116 billion. How much is corporate America sitting on? $1.9 trillion as of the end of 2017. The Smartest Guys in the Room can't figure out how to make real investment. In due time, not much IMHO, they'll go back to chasing Treasuries and driving up price once again. Rates will collapse.

Why? Well, my frenemy Neil Irwin reveals why he's sorta, kinda Luddite.

I think most digital technology is more mature than we think. People have been using personal computers since the 1980s, and smartphones for more than a decade. And the thing about a mature product is that improvements tend to be marginal rather than transformational.

What these missives have been naming, 'The Asymptote of Progress' for a long while. Marginal 'improvements' don't generate significant growth or return, naturally. The latest iPhone doesn't have the impact of the steam engine. That pesky asymptote gets flatter by the day.

Fool's Goal

Are you old enough to remember pets.com? Cute Lamb Chop-ish sock puppet spokescritter. Lots o fun to watch the adverts. Didn't last all that long.

It began operations in February 1999 and liquidated in November 2000.
[the wiki]

Before I looked it up just now, I hadn't realized just how short its life was. Poor doggy. Got hit by bus.

Today's missive is about a similar ploy: dinner over the internet. There's in the neighborhood of half a dozen such outfits. Today's report is for (7:09)Blue Apron:

Reports Q2 (Jun) loss of $0.17 per share, in-line with the Capital IQ Consensus of ($0.17); revenues fell 24.6% year/year to $179.6 mln vs the $188.51 mln Capital IQ Consensus.

Customers decreased 24% year-over-year and decreased 9% quarter-over-quarter as the Company progresses through the aforementioned transition period. Average Revenue per Customer was $250 in the second quarter of 2018 compared to $251 in the second quarter of 2017, and $250 in the first quarter of 2018.

Going the way of the sockpuppet doggy? Only time will tell.

Words Have Meaning?

Them Cheatin Canadians

Well, I suppose the truth had to come out eventually. Turns out the seat of Tech Growth isn't where you might expect, if you drink The Manchurian President's Flavor Aid. It's Toronto. Those wily Canadians are using currency manipulation and open border to drain our precious bodily fluids. We must attack before it's too late. Once a friend, now an enemy.

The capital of Canada's Ontario province created 28,900 tech jobs last year, up 14 percent from 2016. Toronto's more than 241,000 tech employees represent a 52 percent increase during the last five years, according to CBRE.

The Doctor Is In

Recall the mentioning of that old saw, Dr. Copper? Well, a major American copper corporation had this to say (8:09):

Despite the recent decline in copper prices associated with the uncertain impact on the global economy of recent international trade actions, we remain positive on the outlook for copper prices given limitations on supply and the important role of copper in the global economy. To date, we have not experienced a decline in demand for our products, but will be prepared to adjust our plans if necessary to respond to market conditions.

I guess all is well. "What you're seeing and what you're reading is not what's happening."

Here's what's happening to the good Doctor. A bit of whistling past the graveyard. Ya think.

Thought For The Day - 22 July 2018

'60 Minutes' is in re-run mode, so we've just seen the piece on Hubble. I'm a sucker for such science. One might wonder whether The Manchurian President gives a hearty shit? Probably not. Real Americans don't care about real science.

Thought For The Day - 18 July 2018

Dear Dear Leader:

It's not about how kissy face you are with Vlad the Impaler, or other dictators; it's about doing what's best for the USofA. Sucking up to Vlad may get you your Trump Tower Moscow, but that's not in the USofA best interest. And, what's this about the SS blocking subpoenas for Jared?? So, I guess you've decided that The Family is above the Law?