1
Trump Suggests Executive Order on Drug Prices, With a Scope That Is Unclear
He may be talking about a pilot program that would apply to only a small
subset of drugs.
The American pharmaceutical market could be a world market.
2
Restoring Forests Could Help Put a Brake on Global Warming, Study Finds
Researchers looked at how many trees could be planted on every available
parcel of land on Earth, where they could go, and what impact could be on
our survival.
The Times was scooped by the Guardian.
Twenty years is a long lead time.
Planting trees is a good thing.
3
AAR: June Rail Carloads down 5.3% YoY, Intermodal Down 7.2% YoY
From the Association of American Railroads (AAR) Rail Time Indicators. *Graphs
and excerpts reprinted with permission*.
*Total U.S. rail carloads in June 2019 were down 5.3%* (57,173 carloads)
from June 2018, as just 4 of the 20 carload commodities the AAR tracks had
carload gains. ... Last year was the best year ever for intermodal, but
this year isn’t keeping up. In June 2019, U.S. *intermodal originations
were down 7.2% from June 2018*, their fifth straight decline and the
biggest percentage decline since April 2016.
emphasis added
[image: Rail Traffic] *Click on graph for large... more »
Trade wars are not easy to win.
4
Two Years Into Trump’s Presidency, Obama Remains a Top Target for Criticism
The president faults his predecessor on North Korea, Iran, Turkey, NATO and
the border. “I call it the ‘Obama-Biden mess,’” Mr. Trump said.
Obama is two years retired.
Trump must own his mess.
5
The Redcoats Are in a Holding Pattern Over La Guardia
Revolutionary War airports? President Trump revised history in his Fourth
of July speech, to the internet’s amusement.
Wisconsin may not have heard.
6
Trade War May Be Slowing Business Spending and Factories, Fed Says
A report by Federal Reserve officials said that United States economic
activity increased at a “solid pace” in early 2019, but that risks still
loomed.
It is generous of the Fed to notice.
7
Kamala Harris Raised Close to $12 Million in 3 Months, Lagging Top Rivals
Ms. Harris’s total for the quarter, which went from April through June, is
far below what some other first-tier candidates reported this week.
Count the votes.
8
Do Latino Voters Really Care if the 2020 Candidates Speak Spanish?
They might not, according to polls, but that isn’t stopping Beto O’Rourke,
Cory Booker and others.
Every vote counts.
9
Biden, in CNN Interview, Says Harris Caught Him Off Guard in Debate
Mr. Biden reiterated that Ms. Harris had mischaracterized his position on
school busing, prolonging what has been a combative period of the
presidential primary.
Whining usually does not help.
10
Q2 GDP Forecasts: Around 1.5%
From Merrill Lynch:
A widening in the trade deficit and slower than expected inventory build in
May were mostly offset by strong vehicle sales in June. On net, the data
cut 0.1pp from 2Q GDP tracking, leaving us at *1.7% qoq saar*. [July 5
estimate]
emphasis added
From the NY Fed Nowcasting Report
The New York Fed Staff Nowcast stands at *1.5% for 2019:Q2* and 1.7% for
2019:Q3. [July 5 estimate].
And from the Altanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual
rate) in the *second quarter of 2019 is 1.3 percent* on July 3, down from
1.5 ... more »
Maybe,
11
Comments on June Employment Report
The headline jobs number at 224 thousand for June was above consensus
expectations of 165 thousand, however the previous two months were revised
down 11 thousand, combined. The unemployment rate increased to 3.7%.
Overall this was a decent report. Note: Temporary Decennial Census hiring
for June is not available yet (something to watch).
Earlier: June Employment Report: 224,000 Jobs Added, 3.7% Unemployment Rate
In June, the year-over-year employment change was 2.301 million jobs. That
is decent year-over-year growth.
*Average Hourly Earnings*
Wage growth was below expectations. F... more »
Noisy signal.
12
June Employment Report: 224,000 Jobs Added, 3.7% Unemployment Rate
From the BLS:
*Total nonfarm payroll employment increased by 224,000 in June, and the
unemployment rate was little changed at 3.7 percent*, the U.S. Bureau of
Labor Statistics reported today. Notable job gains occurred in professional
and business services, in health care, and in transportation and
warehousing.
...
The change in total nonfarm payroll employment for April was revised down
from +224,000 to +216,000, and the change for May was revised down from
+75,000 to +72,000. *With these revisions, employment gains in April and
May combined were 11,000 less than previously repo... more »
Average.
13
On Politics: Trump’s Fourth of July
NYT > Politics - 13 hours ago
President Trump on Thursday used the Lincoln Memorial as the backdrop for a
tribute to the country’s armed forces.
The military follows orders.
14
Strong Jobs Report Eases Fears of Damage From Trade War
President Trump declares that the economy is doing “unbelievably well”
after payrolls grow by 224,000 in June.
No
15
NATO Considers Missile Defense Upgrade, Risking Further Tensions With Russia
Some alliance officials think the move is needed to counter Russia’s new
cruise missiles, but it could be “a point of no return with the Russians,”
one expert said.
Trump is not dependable.
16
Friday: Employment Report
Happy 4th!
My June Employment Preview
Goldman: June Payrolls Preview
Friday:
• At 8:30 AM, *Employment Report* for June. The consensus is for 165,000
jobs added, and for the unemployment rate to be unchanged at 3.6%.
I still don't know.
17
With Flyovers and Flags, Trump Plays M.C. for the Fourth
The president began with a rare call for unity in his 45-minute speech, but
mostly spent time recounting the history of the armed forces, planes
punctuating his message.
Rained out.
18
Happy Independence Day
It’s sometimes unclear to me that the US has been more of a good thing than
a bad thing, but happy Independence Day. Remember to thank the French,
there’s a fairly strong case that without them America would have lost the
War of Independence. But every powerful nation has committed their share of
atrocities, so, […]
It could have been worse.
19
Joe Biden and Kamala Harris Bring Their Debate-Stage Fight to Iowa
The candidates continue to address questions about school integration,
prolonging the most combative period of the Democratic primary to date.
No news.
20
Two Americas, Celebrating Separately in One Place
On one side of the Mall, Fourth of July revelers listened to Carole King.
On the other, they heard the president salute military might.
OK
||
No comments:
Post a Comment