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ISM Manufacturing index Decreased to 52.1 in May
Calculated Risk at Calculated Risk - 41 minutes ago
The ISM manufacturing index indicated expansion in May. The PMI was at
52.1% in May, down from 52.8% in April. The employment index was at 53.7%,
up from 52.4% last month, and the new orders index was at 52.7%, up from
51.7%.
From the Institute for Supply Management: May 2019 Manufacturing ISM®
Report On Business®
Economic activity in the manufacturing sector expanded in May, and the
overall economy grew for the 121st consecutive month, say the nation’s
supply executives in the latest Manufacturing ISM® Report On Business®.
The report was issued today by Timothy R. Fiore, CPSM, C.... more »
Working and earning are not the same thing.
https://www.nakedcapitalism.com/2019/06/st-louis-fed-study-shows-rising-level-of-financial-desperation-among-the-poor-hidden-by-aggregates.html
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Biden’s First Run for President Was a Calamity. Some Missteps Still Resonate.
Matt Flegenheimer at NYT > Politics - 1 hour ago
In 1988, Joe Biden was prone to embellishment. Hints of that linger today.
But unlike then, his message to voters is clear: He’s a stabilizing
statesman in a tumultuous time.
Joe Biden does not have my support.
3
Black Knight Mortgage Monitor for March: Record Low National Delinquency Rate
Calculated Risk at Calculated Risk - 1 hour ago
Black Knight released their Mortgage Monitor report for April today.
According to Black Knight, 3.47% of mortgages were delinquent in April,
down from 3.67% in April 2018. Black Knight also reported that 0.50% of
mortgages were in the foreclosure process, down from 0.61% a year ago.
This gives a total of 3.97% delinquent or in foreclosure.
Press Release: Black Knight Reports Home Price Growth Continues to Slow,
Falling Below 25-Year Average for First Time Since 2012; Affordability at
Strongest Point in More Than a Year
Today, the Data & Analytics division of Black Knight, Inc. relea... more »
The lenders have been cautious.
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Congress Reconvenes Facing a Critical Mission: Avoid Fiscal Calamity
Emily Cochrane at NYT > Politics - 4 hours ago
With deadlines looming on the debt ceiling and government funding, progress
toward a deal in a polarized and gridlocked Congress could be fraught.
The debt ceiling is a Republican fiction.
A graduated tax rate is necessary.
If the rich run away the Federal Reserve can print more.
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George Will’s Political Philosophy
Andrew Sullivan at NYT > Politics - 4 hours ago
Will’s “The Conservative Sensibility” sums up a lifetime of thinking about
politics and culture.
https://www.youtube.com/watch?v=2GdegC2p8ek
The frontier is closed.
The world is finite and there are no external costs.
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在中美高層之間遊走：趙小蘭和她的家族航運生意
Michael Forsythe, Eric Lipton, Keith Bradsher and Sui-Lee Wee at NYT > Politics - 4 hours ago
趙家與中共領導層淵源頗深，趙小蘭的父親與江澤民曾是校友。趙小蘭多年來利用她在中國的人脈和知名度來提升家族航運公司福茂的形象，北京的產業政策給這家企業帶來豐厚的利潤。
https://www.nytimes.com/2019/06/02/us/politics/elaine-chao-china.html
"Ms. Chao has no formal affiliation or stake in her family’s shipping
business, Foremost Group. But she and her husband, Senator Mitch
McConnell of Kentucky, have received millions of dollars in gifts from
her father, James, who ran the company until last year. And Mr.
McConnell’s re-election campaigns have received more than $1 million in
contributions from Ms. Chao’s extended family, including from her father
and her sister Angela, now Foremost’s chief executive, who were both
subjects of the State Department’s ethics question."
"The best government money can buy."
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在中美高层之间游走：赵小兰和她的家族航运生意
Michael Forsythe, Eric Lipton, Keith Bradsher and Sui-Lee Wee at NYT > Politics - 4 hours ago
赵家与中共领导层渊源颇深，赵小兰的父亲与江泽民曾是校友。赵小兰多年来利用她在中国的人脉和知名度来提升家族航运公司福茂的形象，北京的产业政策给这家企业带来丰厚的利润。
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Trump Arrives for UK State Visit: Live Updates
The New York Times at NYT > Politics - 6 hours ago
President Trump is beginning his long-delayed state visit to Britain, which
will roll out the full honors, including ceremonies, government meetings
and a banquet.
Trump is not helping.
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Witnessing China’s 1989 Protests, 1,000 Miles From Tiananmen Square
NYT > Politics - 11 hours ago
As a student, Representative Andy Levin of Michigan experienced firsthand
the bloody crackdown against pro-democracy demonstrators.
The world did not end.
China is a sovereign nation.
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A ‘Bridge’ to China, and Her Family’s Business, in the Trump Cabinet
Michael Forsythe, Eric Lipton, Keith Bradsher and Sui-Lee Wee at NYT > Politics - 13 hours ago
Elaine Chao has boosted the profile of her family’s shipping company, which
benefits from industrial policies in China that are roiling the Trump
administration.
The best government money can buy.
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For the Chao Family, Deep Ties to the World’s 2 Largest Economies
Eric Lipton and Michael Forsythe at NYT > Politics - 13 hours ago
The family of Elaine Chao, the transportation secretary, has forged
high-level political connections not only in the United States but also in
China, where their shipping business has prospered.
Impeachment is a clumsey process.
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The Fox News Primary? How Trump’s Favorite Network Became a Democratic Power Player
Michael M. Grynbaum at NYT > Politics - 13 hours ago
A Sunday town hall with Senator Kirsten Gillibrand was another sign of Fox
News’s ability to influence the Democratic primary, despite a ban by party
leaders.
Rupert Murdoch recognizes that news is primrily entertainment for his audience.
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Rupert Murdoch recognizes that news is primrily entertainment for his audience.
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Monday: ISM Manufacturing, Construction Spending
Calculated Risk at Calculated Risk - 14 hours ago
Weekend:
• Schedule for Week of June 2, 2019
Monday:
• At 10:00 AM ET, *ISM Manufacturing Index* for May. The consensus is for
the ISM to be at 52.9, up from 52.8 in April. The employment index was at
52.4% in April, and the new orders index was at 51.7%.
• Also at 10:00 AM, *Construction Spending* for April. The consensus is for
a 0.5% increase in construction spending.
From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are down 15 and
DOW futures are down 164 (fair value).
Oil prices were down over the last week with WTI futures at $52.81 per
barrel and Brent at $61.19 per... more »
The money game continues.
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The money game continues.
13
Mulvaney Says McCain Ship Episode Is ‘Much Ado About Nothing’
Eric Schmitt at NYT > Politics - 15 hours ago
The White House again played down its directive to hide a Navy warship
named after Senator John McCain as the Pentagon warned against politicizing
the military.
Trump is insane.
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Trump is insane.
14
U.S. Requiring Social Media Information From Visa Applicants
Sandra E. Garcia at NYT > Politics - 16 hours ago
The State Department is asking visa applicants to submit social media
accounts that they have used in the past five years under a new policy that
took effect on Friday.
https://en.wikipedia.org/wiki/Freedom_of_speech_in_the_United_States
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https://en.wikipedia.org/wiki/Freedom_of_speech_in_the_United_States
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Kirsten Gillibrand, on Fox News, Talks Abortion, Al Franken and More
Maggie Astor at NYT > Politics - 16 hours ago
In an hourlong appearance on Sunday, Ms. Gillibrand, hoping to bolster her
flagging candidacy, got into some contentious exchanges about the host
network.
Yes
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Yes
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F.B.I. Is Said to Be Investigating College Admissions Practices at T.M. Landry
Katie Benner and Erica L. Green at NYT > Politics - 17 hours ago
The private school in Louisiana, once celebrated for helping
underprivileged and minority students attend elite colleges, is now under
federal investigation over its college applications.
Fraud is a crime.
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Fraud is a crime.
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Bernie Sanders After Dark: Inside His First ‘Grass-Roots Fund-Raiser’
Shane Goldmacher at NYT > Politics - 19 hours ago
Mr. Sanders held a small event at a nightclub, with tickets starting at
$27, in a bid to keep his grip on small donors.
I will vote for him if he becomes the candidate.
I will not help him do that.
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I will vote for him if he becomes the candidate.
I will not help him do that.
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Week-end Wrap, June 2, 2019
Tony Wikrent at Ian Welsh - 20 hours ago
by Tony Wikrent Strategic Political Economy The West and Russian-Chinese
Relations: Stages of Denial [Valdai Discussion Club, via Naked Capitalism
5-26-19] When analyzing the place that Russia and China occupy in each
other’s bilateral trade, there is an imbalance arising from the difference
in the size of the two economies. But it is hard to […]
The farmers are in trouble.
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The farmers are in trouble.
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‘He’s a Good Man’: Jim Jordan Finds Support at Home in Ohio State Abuse Scandal
Catie Edmondson at NYT > Politics - 22 hours ago
An investigation at Ohio State University revealed that coaches had
inklings of a team doctor’s sexual abuse. But Representative Jim JordaI have no interest in saving Jim Jordan.
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