1
Trump’s Tweet Was Condemned as Racist. His Response: No, They’re the Racists.
The president demanded that the representatives apologize to him and “the
people of Israel” after he used a racist trope in urging the four Americans
to “go back” to their countries.
Trump compounds his errors.
2
Ten Years Ago: The Sluggish Recovery Began
Note: This is the 15th year I've been writing this blog. Sometimes it is
fun to look back, especially at turning points. Starting in January 2005,
I was very bearish on housing - and in early 2007, I predicted a recession.
However in 2009 I became more optimistic. For example, in February 2009, I
wrote: Looking for the Sun (Note: that post shocked many readers since I
had been very bearish).
And here are a couple of posts I wrote exactly 10 years ago on July 15,
2009:
Is the Recession Over?
Show me the Engines of Growth
Back in February I pointed out that I expected to see some ... more »
For 90% of the population the recession continues.
3
Trump’s Tweet Was Condemned as Racist. His Response: No, They’re the Racists.
The president demanded that the representatives apologize to him and “the
people of Israel” after he used a racist trope in urging the four Americans
to “go back” to their countries.
Trump compounds his errors.
4
Joe Biden’s Health Care Plan Focuses on Shoring Up the Affordable Care Act
Mr. Biden, who fought for the law as vice president, has criticized his
progressive rivals who want to eliminate private health insurance.
It is a place to start.
Getting rid of insurance profits is a good idea.
Democratic socialism works. Norway is in no trouble.
5
NY Fed: Manufacturing "Business activity rebounded modestly in New York State"
From the NY Fed: Empire State Manufacturing Survey
Manufacturing firms in New York State reported that business activity grew
modestly in July. *After declining substantially last month, the general
business conditions index returned to positive territory, rising thirteen
points to 4.3*.
*After falling below zero last month, the index for number of employees
slid further, dropping six points to -9.6*, pointing to a decline in
employment levels. The average workweek index, at 3.8, signaled somewhat
longer workweeks.
emphasis added
This was slightly above the consensus forecast.
"After falling below zero last month, the index for number of employees slid further, dropping six points to -9.6, pointing to a decline in employment levels. The average workweek index, at 3.8,
signaled somewhat longer workweeks.
Read more at https://www.calculatedriskblog.com/2019/07/ny-fed-manufacturing-business-activity.html#RQVZPwr2bTcKixIw.99"
6
Huge Turnout Is Expected in 2020. So Which Party Would Benefit?
Democrats typically gain from a broader electorate in presidential races,
but that pattern is not assured in the Trump era.
The younger party should benefit.
Anger is a different measure.
The Republicans are more replaced by liberal children.
7
The Problem With Neoliberal “It’s Never Been Better” Triumphalism
Saying that humanity is currently the best off it has ever been (a dubious
proposition in any case) is like saying “I’ve never been warmer” as you
burn down your house. People like Pinker have been trotting out stats to
claim that we’ve never been better off. Those stats are questionable, based
on a definition […]
"Eat, drink, and be merry for tomorrow we die."
https://www.kjvsayings.com/phrase/eat-drink-and-be-merry-for-tomorrow-we-die#
8
He’s Gay. His Main Opponent Makes Homophobic Remarks.
In a race for a House seat, Ritchie Torres, a gay Bronx councilman, will
oppose Rubén Díaz Sr., who says he doesn’t believe in gay marriage.
A trivial ambition.
9
How Joe Biden Became the Democrats’ Anti-Busing Crusader
With a school desegregation lawsuit roiling Delaware in the 1970s, Mr.
Biden led an effort in the Senate to end court-ordered busing.
A change of heart is doubtful.
10
On Politics: Trump Tells Congresswomen to ‘Go Back’ to Their Countries
NYT > U.S. > Politics - 10 hours ago
The slur, directed at four women of color, is an established racist trope
used to single out the perceived foreignness of nonwhite people.
Such a return would begin with the removal of Trumps.
11
Trump Fans the Flames of a Racial Fire
While other presidents have found ways to appeal to the resentments of
white Americans with subtle and not-so-subtle appeals, none of them in
modern times have done so as overtly as this one.
Yes.
12
The Power Went Out. Where Was de Blasio?
He was in rural Iowa, illustrating the perils mayors face when they run for
president.
Political pressure does not aid Consolidated Edison.
13
Sunday Night Futures
Weekend:
• Schedule for Week of July 14, 2019
Monday:
• At 8:30 AM, The New York Fed *Empire State manufacturing survey* for
July. The consensus is for a reading of 0.5, up from -8.6.
From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 and DOW futures
are down slightly (fair value).
Oil prices were up over the last week with WTI futures at $60.25 per barrel
and Brent at $66.76 barrel. A year ago, WTI was at $68, and Brent was at
$71 - so oil prices are down about 10% year-over-year.
Here is a graph from Gasbuddy.com for nationwide gasoline prices.
Nationally prices are at $... more »
Most of my decisions are made.
14
When Big Tobacco Invoked Eric Garner to Fight a Menthol Cigarette Ban
Corporate lobbyists are increasingly highlighting the concerns of black New
Yorkers to support their clients’ causes.
Big Tobacco is another drug distributor.
Drug pushers are not noted for honorable behavior.
15
Have You Been Told to ‘Go Back’ to Your Country Even Though You Are American? Tell Us About It.
We want to hear from you. How did you respond? How did it make you feel?
Confused.
16
Fighting Big Tech Makes for Some Uncomfortable Bedfellows
Conservatives are showing up at largely liberal conferences to call for
breaking up Facebook and Google. Liberals are going on conservative TV
shows to do the same. It’s awkward.
The nation does not need the noise.
17
Week-end Wrap – Political Economy – July 14, 2019
by Tony Wikrent Alarming after-effects of Republican budget cutting in
North Carolina Savage tick-clone armies are sucking cows to death; experts
fear for humans [ars technica, via Naked Capitalism 7-13-19] Ravenous
swarms of cloned ticks have killed a fifth cow in North Carolina by
exsanguination—that is, by draining it of blood—the state’s Department of
Agriculture […]
He tries.
18
Trump Tells Congresswomen to ‘Go Back’ to the Countries They Came From
The attack, which was widely established as a racist trope, appeared to be
meant for four progressive freshmen who have clashed with Speaker Nancy
Pelosi. Only one was born outside the United States.
Trump is out of arguments.
19
Joe Biden Decides He Doesn’t Need to Stay Above the Fray After All
In New Hampshire, the former vice president went after some of his rivals,
with criticism that Bernie Sanders called “totally absurd.”
Biden trims his opinions.
20
30 Year Mortgage Rates increase to 4.0%
From Matthew Graham at Mortgage News Daily: Highest Mortgage Rates in More
Than 3 Weeks
Mortgage rates moved decisively higher this week as the underlying bond
market finally began shifting gears. After the Fed meeting in June, rates
moved to the lowest levels in more than 2 years and had been holding in a
narrow range since then. [*30YR FIXED - 4.0%*]
emphasis added
[image: Mortgage Rates] *Click on graph for larger image.*
This is a graph from Mortgage News Daily (MND) showing 30 year fixed rates
from three sources (MND, MBA, Freddie Mac). Go to MND and you can adjust
the grap... more »
Look at the picture.
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