Existing home sales fell -3.3 % in April to a worse-than-expected 5.04 million annual rate, as weakness continues in the housing sector.
The Philadelphia Fed Business Outlook Survey fell -0.8 points in May to 6.7.
The Conference Board’s index of leading economic indicators jumped 0.7% in April, mainly on increases in building permits. Oddly, the jump in permits hasn’t yet shown up as strength in the constructions sector.
The Kansas City Fed Manufacturing Index fell -8 points in May to a deeply negative -13.
The Chicago Fed National Activity Index improved from -0.42 in March to a still-negative -0.15 in April.
May’s flash reading for the PMI manufacturing index fell -0.4 points to a 16-month low of 53.8.
Initial weekly jobless claims rose 10,000 to 274,000. The 4-week average fell 5,500 to 266,250. Continuing claims fell 12,000 to 2.211 million.
The Bloomberg Consumer Comfort Index slipped -1.1 points in the May 17 week to 42.4.
The Fed’s balance sheet fell $-20.8 billion last week, with total assets of $4.480 trillion. Reserve bank credit rose $4.0 billion.
The Fed reports that M2 money supply rose by $22.8 billion in the latest week.
I’m speaking of our POTUS. Yesterday at a commencement ceremony at the Coast Guard Academy, he declared that climate change was the biggest threat to our national security out there.
Even the ever malleable Jeb Bush couldn’t take that:
U.S. Republican Jeb Bush said on Wednesday that the Earth’s climate is changing but that scientific research does not clearly show how much of the change is due to humans and how much is from natural causes. While President Barack Obama and many scientists believe humans are largely to blame for climate change, Bush said the degree of human responsibility is uncertain. The former Florida governor challenged Obama’s determination earlier in the day that climate change is now a threat to U.S. national security.
It’s not just the degree of of change caused by humans in question but the effect of CO2. But we “deniers” know that. That and the fact that without a doubt the “evidence” which the alarmist have used has been fudged make any reasoning person “skeptical” of the declared “science”. Add in the abysmally wrong models as well as the temperatures from the last 17 years and anyone who isn’t a skeptic has blinders on and isn’t interested in science.
But, with Iraq collapsing, Saudi Arabia buying nukes while Iran develops them, Lybia in chaos and a haven for ISIS, Syria imploding, Yemen falling to extremists, Egypt cozying up to Russia who is taking the Ukraine bit by bit and China is challenging us in the South China Sea,
global warming climate change isn’t even on the radar screen as far as national security problems go.
No, the cult of climate change is precisely what Bush said it is:
The problem is climate change has been co-opted by the hard-core left and if you don’t march to their beat perfectly then you’re a denier.
And we all know what they want to do with “deniers”, don’t we?
So why are we hearing all this nonsense in the midst of all this chaos in the world?
In his frantic search for something positive for us to remember him by, President Obama has lately turned to “climate change,” casting it in recent weeks as a matter of health, of environmental protection, of international obligation, even as a matter of his daughter’s health. She suffered an asthma attack as a child, and he thinks the changing weather had something to do with it. Nothing has worked so far to persuade the public that everyone is doomed unless the government steps in to change the weather. President Obama is likely to find that manufactured climate hysteria won’t work.
Legacy. He’s screwed absolutely everything else up during his tenure as president. This might be his last shot at what he thinks will be a positive legacy. If implemented, it would likely be just like the other monstrosities he’s now trying to run from. But he’s going to try.
With six months to go until the next global climate treaty talks in Paris, environmentalist and former US vice president Al Gore has declared that ‘the future of the world depends’ on their outcome. Lord Nigel Lawson, former energy secretary in Margaret Thatcher’s government, delivers his assessment of the prospects of the world reaching a new climate deal.
Everyone with consciousness knows nothing is going to change when they meet.
Spiegel journalist Axel Bojanowski calls it the “big climate show”. Although big declarations are being made, behind the scenes “creative steps” and “tricks” are the real order of the day. One example of trickery comes from Russia, Bojanowski writes: Although Russia has announced it wants to reduce emissions 25% by 2030 compared to 1990 – this is in fact trickery. Because of the collapse of its industry during the 1990s, the country is emitting only half as much CO2 as it did in 1990. That means with respect to climate targets, Russia intends to emit more CO2 in the future.” And not less! In Paris do expect the signing of a “binding international treaty”, but one that will be chock-full of non-binding requirements. The circus (which no one takes seriously anymore) thus will continue.
But … he can then claim, legacy. Because it’s not something actually having an effect, it’s the intent that’s important in the post-modern world. So, as we’ve seen in the past, he’ll talk the talk and consider that to be “action taken”.
Somehow, however, money will migrate from your wallet to the government’s in all this while whatever it is the alarmists want done won’t get one iota closer to happening than before.
It’s all about income redistribution and that’s precisely what will be the outcome to this “national security problem”, just hide and watch.
As you can probably tell by the frequency of these sorts of posts, I’m fascinated by watching the left’s civil war, especially in academia.
On the one hand we have defacto speech codes on college campuses that describe anything considered to be hurtful to be “hate speech”. And, of course, you can’t utter “hate speech” without sanction and shaming by the left – or being shouted down if you dare to introduce a topic that doesn’t conform with the ideology of certain vocal minorities. “Safe spaces” and “micro-aggression” along with “trigger warnings” are the what, as Kathleen Parker calls our “swaddled class”, use to attack those who apparently threaten their pseudo-well-being.
On the other hand, we see real hate defended – or at least that’s the case at Boston U where this execrable excuse for an assistant professor has just been hired:
On Friday, her new employer’s spokesman, Colin Riley, told FoxNews.com that the tweets came from Grundy’s personal Twitter account and that she was “exercising her right to free speech and we respect her right to do so.”
Then, amid a deluge of angry emails from former students, the school sought to amend the comment.
“The University does not condone racism or bigotry in any form and we are deeply saddened when anyone makes such offensive statements,” Riley told FoxNews.com Saturday.
Well, isn’t that nice – defending what in anyone else would have been termed “hate speech”. (What Dr. Grundy said can be seen here.) Obviously she thinks all of this is acceptable even if she is woefully wrong (in terms of history). Quite simply she’s a “troll.” Anyone of the opinion that’s how she’ll likely be in the classroom as well? Yeah, me too.
And then there’s where she went after an apparent rape victim simply because she’s white.
Ms. Grundy, a newly hired black sociology professor who recently apologized for tweeting that white males are a “problem population,” is now accused of mercilessly mocking Meghan Chamberlin in a Facebook thread on Feb. 25, Fox News reported.
The woman who wrote, “my name is *Sai*, but you can call me Dr. Grundy,” posted the comments after Ms. Chamberlin took issue with an article on racism and sexism by The Grio that the Facebook thread had linked to, Fox News reported.
“I LITERALLY cry and lose sleep over this,” Ms. Chamberlin wrote, adding she had been raped as a child, Fox reported. “What this article did was tell me that I’m not aloud [sic] to ask for help… Because I am a WHITE woman… So when I read this article… you do understand what that does to me, right? It kills me…”
“‘I literally cry’…. While we literally die,” replied the woman identified as Sai Grundy, using the same profile photo the Boston University professor used on tweets she acknowledged last week, Fox News reported.
Ms. Chamberlin responded: “No really. I got it. You can take your claws out, thanks.”
To which Ms. Grundy exploded:
“THIS IS THE [expletive] I AM TALKING ABOUT. WHY DO YOU GET TO PLAY THE VICTIM EVERY TIME PEOPLE OF COLOR AND OUR ALLIES WANT TO POINT OUT RACISM. my CLAWS?? Do you see how you just took an issue that WASNT about you, MADE it about you, and NOW want to play the victim when I take the time to explain to you some [expletive] that is literally $82,000 below my pay grade? And then you promote your #whitegirltears like that’s some badge you get to wear… YOU BENEFIT FROM RACISM. WE’RE EXPLAINING THAT TO YOU and you’re vilifying my act of intellectual altruism by saying i stuck my “claws” into you?”
Ms. Chamberlin responded: “I am choosing to ‘exit’ this conversation. You don’t know me. I don’t know you. It’s really as simple as that.”
Ms. Grundy responded: “YOU DONT HAVE TO KNOW ME. what you SHOULD know is that you don’t know more about this issue than marginalized women. And instead of entering this conversation with an iota of humility about that, you have made it a celebration of your false sense of victimization. now go cry somewhere. since that’s what you do.”
This is someone who is going to teach sociology to students? This is a person committed to “diversity” and learning? Given her Twitter tirade, what white student is going to bother taking her class?
Let’s face it, she’s a racist. And yeah, I don’t buy this new definition that you have to have “power” and not be a “minority” to be racist. That’s the usual leftist copout.
She’s as racist as they come. She also indulges in hate speech. And she has every 1st Amendment right to do that, a right I defend completely.
However, the exercise of such a right in the manner in which she has exercised it has consequences. Far fewer students than might have taken her class will take it now. And many alumni are promising never to contribute another dollar to the school if she’s employed there. Not only that, Boston U’s reputation has taken a horrible hit.
Debora Tyler gets to the essence of Grundy’s trolling and tirades:
Professor Saida Grundy recently introduced herself as a new faculty member at Boston University with a blast of obscene and abusive bigotry against a race and gender student group. A brief refresher in the psychology of scapegoating explains why she must be terminated: blaming a racial or gender group for social ills is an intransigent form of ignorance that blocks the capacity for complex problem solving. Isn’t that capacity a quality required of professors?
The AP reported she made statements “critical” of white students. This is an example of AP leftwing bias. She did not make “critical statements.” The hate she expressed is typical of classic scapegoating, paralleling the Nazi transference of blame against Jews. Professor Grundy characterized the entire group of white college males as a problem population. From her tweets: “white masculinity isn’t a problem for america’s colleges, white masculinity is THE problem for america’s colleges… for the record, NO race outside of europeans had a system that made slavery a *personhood* instead of temporary condition.” We can overlook her tweets’ problematic capitalization and punctuation, but must Boston University students be forced to suffer her baneful and ill-informed opinions? Her assertion about the unique “personhood” of European slavery is particularly, and stunningly, ignorant.
Boston U. must be so proud …
The National Association of Home Builders Housing Market Index fell -2 points in May to 54.
April housing starts soared 20.2% to a much better than expected 1.135 million annual rate, while permits were 1.143 million.
Redbook reports that last week’s retail sales softened to 1.8% on a year-ago basis, from the previous week’s already-soft 2.1%.
It’s a really good question, given we were apparently purposely lied too by the President and Secretary of State as to the “why” of Benghazi:
New documents obtained by Judicial Watch and made public Monday show that then-Secretary of State Hillary Clinton and other senior officials under President Obama were given intelligence within hours of the Sept. 11, 2012, Benghazi attack describing how it had been planned at least 10 days in advance “to kill as many Americans as possible.”
A heavily redacted copy of a Sept. 12, 2012, Defense Intelligence Agency memo to Clinton, then Secretary of Defense Leon Panetta, the White House National Security Council and the Joint Chiefs of Staff said “the attack was planned 10 or more days prior on approximately 01 September 2012. The intention was to attack the consulate and to kill as many Americans as possible to seek revenge for U.S. killing of Aboyahiye ((ALALIBY)) in Pakistan and in memorial of the 11 September 2001 atacks on the World Trade Center buildings.”
The attack “was planned and executed by the Brigades of the Captive Omar Abdul Rahman (BCOAR). BCOAR is also responsible for past attacks on the Red Cross in Benghazi and the attack on the British Ambassador, they have approximately 120 members.” Rahman is serving a life sentence in a federal prison for his role in the 1993 bombing of the World Trade Center which killed six people in New York.
The memo was labeled: “Information Report, Not Finally Evaluated Intelligence.”
“Not finally evaluated” but certainly much more plausible than some video made by some clown in CA. And per the memo, both Obama and Clinton knew this within hours of the attack.
So, what difference does it make? Well, quite a bit to anyone with an sense of morality about them. It points to blatant dishonesty to hide their incompetence. But to partisan hacks and the left, it probably doesn’t mean much that they stood by the coffins of the 4 slain in Benghazi and spun a web of lies.
Has that sunk in yet? Your former Secretary of State told you a bald-faced lie and now would like to be your President.
Tell me how she’ll be truthful about everything from now on, won’t you?
Oh, wait … emails …
On the podcast page. Our culture is weak and sick. Thankfully, there are still some fun cars out there.
The Empire State Manufacturing survey for May pulled out of negative territory, but only to a soft 3.09 from -1.19.
Industrial production fell for the 5th straight month in April, down -0.3%, while capacity utilization in the nation’s factory’s fell -0.2% to 78.2.
The University of Michigan’s Consumer Sentiment Index plunged from 95.9 to 88.6 in May.
E-Commerce retail sales rose 3.5% in the 1st Quarter of 2015, with year-on-year growth of 14.5%.
Foreign demand for long-term US securities rose $17.6 billion in March. China reclaimed the top spot from Japan as holders of US bonds.
A less sensational title would be “what the heck ever happened to critical thinking”?
The University of Colorado-Boulder would like students to inform on each other when they witness “bias incidents,” by reporting the perpetrators and turning over all relevant information—including names, phone numbers, addresses, and university ID or Social Security Numbers—to the administration.
What counts as a bias incident is, as always, entirely subjective. An official who spoke with The College Fixclarified that “this in no way is meant to curtail free speech.”
Say what? “This is in no way meant to curtail free speech”? I can’t think of anything which would tend to chill it more than reporting something as arbitrary and subjective as a “bias incident” with name, phone number, address and SSAN to the administration, can you?
For the purposes of this protocol, a “bias-motivated incident” is any of the following:
- Discrimination — Occurs when an individual suffers an adverse consequence, on the basis of one or more of their protected classes.
- Harassment — Verbal or physical conduct that unreasonably interferes with an individual’s work or academic performance or creates an intimidating or hostile work or educational or living environment. Examples may include, but are not limited to, epithets, images, slurs, jokes; electronic communication or other verbal, graphic or physical conduct.
- Acts of Intolerance — Conduct motivated by discriminatory bias or hatred toward other individuals or groups based on perceived or actual characteristics of race, color, national origin, sex, pregnancy, age, disability, creed, religion, sexual orientation, gender identity, gender expression, veteran status, political affiliation, or political philosophy or other attribute.
Good grief … why not spend your entire collegiate career pretending you’re mute?!
But … and there is always a “but”:
Nevertheless, the university’s website encourages students to report each other for engaging in a broad range of constitutionally protected speech.
What a load.
What in the world do these people who “administer” colleges these days use for critical thinking. They may as well feed their brains to zombies for all the good they do them.
Initial weekly jobless claims fell 1,000 to 264,000. The 4-week average fell 7,750 to 271,750. Continuing claims were unchanged at 2.229 million.
The Bloomberg Consumer Comfort Index fell -0.2 points to 43.5 in the latest week.
Producer Prices for Final Demand fell -0.4% in April. PPI-FD less food and energy fell -0.2%, but rose 0.1% less food, energy and trade services. Goods prices fell -0.7%, and Services prices fell -0.1%. On a year over year basis:
Less Food and Energy: 0.8%
Less Food, Energy, Trade Services: 0.7%
The Fed’s balance sheet rose $28.5 billion last week, with total assets of $4.501 trillion. Reserve bank credit rose $6.3 billion.
The Fed reports that M2 money supply rose by $27.6 billion in the latest week.