1
On Politics: Trump’s Trade Style Could Cost U.S.
NYT > Politics - 3 hours ago
Some business groups wonder if the president’s unpredictable style will
undermine the role the United States has traditionally played in setting
the global rules of trade.
https://www.nytimes.com/2019/04/15/us/politics/trump-trade-deals.html?module=inline
Trump has abandoned world trade
2
The Rematch: Bernie Sanders vs. a Clinton Loyalist
The blowup reflects ideological divisions among Democrats between a legacy
Clinton organization and liberals trying to harness the energy of
millennials.
"The pot is calling the kettle black" as is usual in purity fights.
Bernie Sanders would not caucus with the Democrats.
3
Bernie Sanders, at Fox News Town Hall, Says His Wealth Isn’t the ‘American Dream’
In a Fox News town hall on Monday, Mr. Sanders rejected the idea that his
new millionaire status was a testament to capitalism and the “American
dream.”
True.
He changed his social status before he wrote his book.
https://en.wikipedia.org/wiki/Friedrich_Engels
4
Bernie Sanders, at Town Hall, Says His Wealth Isn’t Proof of the ‘American Dream’
In a Fox News town hall on Monday, Mr. Sanders rejected the idea that his
new millionaire status was a testament to capitalism and the “American
dream.”
True.
Industrialism perhapse but not Capitalism.
https://en.wikipedia.org/wiki/Industrial_Revolution
https://en.wikipedia.org/wiki/Benjamin_Franklin
5
Tuesday: Industrial Production, Homebuilder Survey
From Matthew Graham at Mortgage News Daily: Mortgage Rates Highest in More
Than 3 Weeks
Mortgage rates continued higher to start the week, following a relatively
sharp increase on Friday. … This brings the average lender to the highest
levels seen since before the Fed's rate-friendly announcement back on March
20th. [*30YR FIXED - 4.25%*]
emphasis added
Tuesday:
• At 9:15 AM, The Fed will release *Industrial Production and Capacity
Utilization* for March. The consensus is for a 0.3% increase in Industrial
Production, and for Capacity Utilization to increase to 79.2%.
• At 10:00 AM,... more »
The numbers are not pretty to speculaters.
6
On Politics With Lisa Lerer: How Ilhan Omar Fits Into Trump’s New Culture War
In the On Politics newsletter: Mr. Trump has taken the old culture war
mantra, “God, guns and gays,” and transformed it into “immigration,
identity and Islamophobia.”
Sheldon Adelson finds her convenient.
7
Trump and Sanders Campaigns Lead 2020 Fund-Raising Race
Presidential campaigns were required to disclose their finances for the
first quarter of the year by Monday night, a key moment in the early days
of the race.
The audience for Trump remains small.
8
Bernie Sanders Released His Tax Returns. He’s Part of the 1%.
Mr. Sanders’s income shot up after his last presidential bid, topping $1
million in 2016 and 2017 as proceeds from books drove up his earnings.
I am not so pure.
9
U.S. Risks Roiling Oil Markets in Trying to Tighten Sanctions
Oil purchases by China and India are undermining United States sanctions on
Iran and Venezuela, but halting them could come at a cost.
Trump can't do just one thing.
10
Trump Says He Will Give Tiger Woods the Presidential Medal of Freedom
The president has lavished praise on Woods, a golf and business partner,
for winning the Masters on Sunday in a dramatic comeback.
For Trump, winning is the only thing.
11
Interior Dept. Opens Ethics Investigation of Its New Chief, David Bernhardt
The department's inspector general has said that she is looking into a
"wide assortment" of allegations of conflict of interest and other
potential violations.
Trump does not learn.
12
Phoenix Real Estate in March: Sales down 11% YoY, Active Inventory up 9% YoY
This is a key housing market to follow since Phoenix saw a large bubble /
bust followed by strong investor buying.
The Arizona Regional Multiple Listing Service (ARMLS) reports ("Stats
Report"):
1) Overall sales declined to 8,344 in March, from 9,402 in March 2018.
Sales were UP 30.2% from February 2019, but down 11.3% from March 2018.
2) Active inventory was at 18,182, up from 16,645 in March 2018. This is up
9.2% year-over-year. This is the fifth consecutive month with a YoY
increase in active inventory.
The last five months - with a YoY increase - followed twenty-four
consecut... more »
The developers in Phoenix are ahead of the market.
13
A Vulgar Term Goes Unmentioned as It Gets Its Day in Court
Strict constructionism suffers a fall.
14
Trump Lawyer Urges Treasury Not to Release His Tax Returns
The Internal Revenue Service is facing an April 23 deadline to comply with
a Congressional request.
The treasury has no choice. The returns will go to Congress.
15
Pete Buttigieg’s Campaign Kickoff: Full Speech, Annotated
Mr. Buttigieg, the mayor of South Bend, Ind., announced his bid and spoke
about what kind of president he hoped to be. Here's the full speech text.
Better than average.
16
Mueller Report Will Be Released Thursday, Justice Dept. Says
The attorney general has promised that he would release a stripped-down
version of the report after law enforcement officials blackout delicate
information.
Playing for time.
17
Oil: Rig Counts increased Slightly
A few comments from Steven Kopits of Princeton Energy Advisors LLC on April
14, 2019:
• Oil rigs rose 2, to 833
• Horizontal oil rigs gave back almost their entire gains of last week, -7
to 727
• The Permian gave back 3 of last week’s 8 gains in horizontal oil rig
adds: -3 to 423
• Last week’s bottom for the mini-cycle is holding, but just barely
[image: Oil Rig Count]*Click on graph for larger image.*
CR note: This graph shows the US horizontal rig count by basin.
Graph and comments Courtesy of Steven Kopits of Princeton Energy Advisors
LLC.
Oil does not cost enough.
18
Mueller Report Will Be Released Thursday, Justice Dept. Says
The attorney general has promised that he would release a stripped-down
version of the report after law-enforcement officials black out sensitive
information.
Noise.
19
Looking Back: What is a Depression?
Sometimes it is fun to look back. I remember watching CNBC in March 2009,
and it seemed every talking head was bearish - and many were predicting a
depression. Below is an excerpt from one of a series of my more positive
posts in 2009 (after being very negative for several years). Not perfect,
but clearly my outlook was changing.
Those of us looking for the economy to bottom were definitely in the
minority!
In early March 2009, I wrote: What is a depression?
It seems like the "D" word is everywhere. And that raises a question: what
is a depression? Although there is no formal defi... more »
https://en.wikipedia.org/wiki/Depression_(economics)
20
In Attacking Ilhan Omar, Trump Revives His Familiar Refrain Against Muslims
The president hopes to resurrect a major theme of his 2016 campaign for his re-election bid in 2020. This time, he has picked a specific target.Trump does not learn.
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