A weak 142,000 net new jobs were created in September, far below expectations. The unemployment rate remained unchanged at 5.1%. Average hourly earnings were unchanged, and average weekly hours declined -0.1 hours to 34.5 hours. The labor force participation rate fell -0.2% to 62.4% as 236,000 people left the labor force. The labor force participation rate is the lowest since October, 1977, continuing the decline in the labor force that began in 2000.
This decline is why I no longer calculate the unemployment rate using pre-crisis average LFPR. We no longer know what the “correct” LFPR is, or should be.
Factory Orders declined -1.7% in August, with non-durables down -1.1% and durable goods down -2.3%. Core capital goods fell -0.8%. This is a very weak report all around.
Via Ace and Bill, here is a clickbait article by some metrosexual pantywaist who purports to tell us all what modern men are like. He intends it to be funny – I think. It’s hard to tell with pathetic beta males. But I think he means most of the advice to be taken seriously even though he’s trying for a humorous presentation.
It’s as pathetic and unfunny as you would expect. I wondered if every single item on his list needed to be eviscerated, and just about every one did. So herewith I recount his items, and for each my own item about what a real man is like compared to this dipwad’s “modern man”.
1. When the modern man buys shoes for his spouse, he doesn’t have to ask her sister for the size. And he knows which brands run big or small.
The real man knows better than to buy shoes for his spouse. He’ll never be able to ensure a good fit. Instead, he takes care of the household well enough that she knows she can buy shoes whenever she wants or needs to. He’s got better things to do than study the sizing proclivities of two dozen brands of women’s shoes.
2. The modern man never lets other people know when his confidence has sunk. He acts as if everything is going swimmingly until it is.
The real man never lets other people know when his confidence has sunk, because it never does. He believes in himself. Temporary setbacks don’t change that.
3. The modern man is considerate. At the movie theater, he won’t munch down a mouthful of popcorn during a quiet moment. He waits for some ruckus.
The real man is considerate, because gentlemen have had that characteristic for centuries. Which means he knows better than to put a whole mouthful of popcorn in his mouth at once like some heathen savage or six year old.
4. The modern man doesn’t cut the fatty or charred bits off his fillet. Every bite of steak is a privilege, and it all goes down the hatch.
The real man knows enough about steak to know several things. First, it’s properly spelled “filet”, and the pathetic betas in the NYT editorial department should have known that. Second, a filet has almost no fat so it’s not necessary to trim around it. Third, a real man knows enough about cooking a filet not to char it.
5. The modern man won’t blow 10 minutes of his life looking for the best parking spot. He finds a reasonable one and puts his car between the lines.
The real man knows that where you park isn’t really important enough to think about very much, and that there are literally a thousand other things that say a lot more about whether he’s a real man.
6. Before the modern man heads off to bed, he makes sure his spouse’s phone and his kids’ electronic devices are charging for the night.
Before the real man heads off to bed, he makes sure the home is secure, and that he’s clean and ready to make love to his wife. He doesn’t worry about his kids’ electronic devices, because they need to learn the responsibility of taking care of themselves. He knows he won’t always be around to do it.
7. The modern man buys only regular colas, like Coke or Dr Pepper. If you walk into his house looking for a Mountain Dew, he’ll show you the door.
The real man buys only whatever the f*ck kind of cola that he thinks tastes good, plus some Mountain Dew for his buddy who likes Dale Earnhardt, Jr, and a nice variety of other soft drinks for his guests. Plus some liquor to mix in.
8. The modern man uses the proper names for things. For example, he’ll say “helicopter,” not “chopper” like some gauche simpleton.
The real man uses the proper names for things. For example, he’ll say “pathetic beta male,” not “modern man” like some pretentious douchebag.
9. Having a daughter makes the modern man more of a complete person. He learns new stuff every day.
Having a daughter makes the real man happy that he has children. Just like having a son does. Though he does hope and pray that his daughter doesn’t grow up to marry a
modern man pathetic beta male.
10. The modern man makes sure the dishes on the rack have dried completely before putting them away.
The real man makes sure the household can afford a dishwasher and lets it take care of drying and sterilizing the dishes.
11. The modern man has never “pinned” a tweet, and he never will.
The real man doesn’t do anything stupid on social media, including putting pointless sh!t about his life on Twitter all the time.
12. The modern man checks the status of his Irish Spring bar before jumping in for a wash. Too small, it gets swapped out.
The real man washes his body with whatever is available, including shampoo if he has to. If he has room next to the bathtub, he makes sure fresh toiletries can be reached without getting out. He certainly doesn’t get anal about something as trivially stupid as whether the soap bar is too small.
13. The modern man listens to Wu-Tang at least once a week.
The real man doesn’t give a f*ck about Wu-Tang or any other flavor-of-the-month piece of sh!t rap artist. He’s got a music collection that has decent stuff from Mozart to Pink Floyd to Taylor Swift. Plus some eighties stuff to play during parties for dancing.
14. The modern man still jots down his grocery list on a piece of scratch paper. The market is no place for his face to be buried in the phone.
The real man jots down his grocery list on paper or phone, whichever he’s more comfortable with. He knows enough to stop and step aside if he needs to look at his phone while shopping so he doesn’t run into anything. Which he will probably need to do because he’ll likely have to text his wife for details or clarifications while he’s shopping.
15. The modern man has hardwood flooring. His children can detect his mood from the stamp of his Kenneth Cole oxfords.
The real man sometimes has hardwood flooring because it’s nice looking and easy to keep clean. But he doesn’t stomp through the house on it, because he has better control over himself that that. His children can detect his mood because he tells them when he doesn’t feel well.
16. The modern man lies on the side of the bed closer to the door. If an intruder gets in, he will try to fight him off, so that his wife has a chance to get away.
The real man make sure his house is secure enough that he’ll know about an intruder long before it gets to the bedroom door. That means he can sleep on either side of the bed his wife wants him to. If an intruder gets in, he will either shoot them or take them apart, so that his wife will be protected. Though, for some wives, he will make sure he’s clear of her field of fire so they can both shoot the intruder.
17. Does the modern man have a melon baller? What do you think? How else would the cantaloupe, watermelon and honeydew he serves be so uniformly shaped?
Does the real man have a melon baller? Who the f*ck cares? Hell, he probably doesn’t even know what one looks like.
18. The modern man has thought seriously about buying a shoehorn.
The real man has thought seriously about buying a motorcycle.
19. The modern man buys fresh flowers more to surprise his wife than to say he is sorry.
The real man buys fresh flowers anytime he wants to tell his wife he loves her.
20. On occasion, the modern man is the little spoon. Some nights, when he is feeling down or vulnerable, he needs an emotional and physical shield.
On occasion, the real man is the little spoon because the human body needs to shift around during sleep. If he is feeling down, he is either quiet about it until he feels better, or tells his wife what he is feeling down about so they can confront it together. If needed, she then holds him as a wife should when he needs her support – face to face with their arms around each other.
21. The modern man doesn’t scold his daughter when she sneezes while eating an apple doughnut, even if the pieces fly everywhere.
The real man doesn’t scold his daughter for anything accidental. Though he does teach her good manners.
22. The modern man still ambles half-naked down his driveway each morning to scoop up a crisp newspaper.
The real man is smart enough to know that newspapers have become too biased and unreliable to waste time on. Unless he’s house training a dog or wrapping dishes to move, he has no use for one, crisp or otherwise.
23. The modern man has all of Michael Mann’s films on Blu-ray (or whatever the highest quality thing is at the time).
The real man knows that everyone has their own movie favorites, and that Michael Mann is just one more mid-level filmmaker. But he owns a Blu-ray of Die Hard and at least one Cary Grant movie.
24. The modern man doesn’t get hung up on his phone’s battery percentage. If it needs to run flat, so be it.
The real man doesn’t talk, text, or browse so damn much on the phone that it goes dead every other day.
25. The modern man has no use for a gun. He doesn’t own one, and he never will.
The real man knows that a gun is a tool for killing things that need killing, and that the world unfortunately holds a lot of those things. Depending on where he lives, he probably owns several of them.
26. The modern man cries. He cries often.
The real man cries sometimes. But he’s not proud of it.
27. People aren’t sure if the modern man is a good dancer or not. That is, until the D.J. plays his jam and he goes out there and puts on a clinic.
People aren’t sure if the real man is a good dancer or not. Because he doesn’t really give a f*ck if he’s a good dancer – he just goes out on the dance floor with his wife and has a good time.
I realize this guy just put out his list to get his name in print and try to excuse his pathetic beta maleness. Still, the fact that he thinks any of this is laudable even in jest shows how far some men have sunk in being ashamed of their own masculinity.
I suggest that the real test would be to run the above past a few hundred women who had been out of college at least five years. Let them decide whether they want a “modern man” or a real man. I know which way I think the results would go.
September motor vehicle sales surged 2.3% to a far better than expected 18.2 million annual rate.
Challenger reports that announced layoffs reached 58,887 in September, and the YTD number of 493,431 is now higher than all of last year.
The PMI manufacturing index was 53.1 in September, little changed from August.
The ISM Manufacturing index dropped -0.9 points to a barely positive 50.2, the lowest reading since May, 2013.
Construction spending rose 0.7% in August, and is up 13.7% on a year-over-year basis.
Gallup’s US Payroll to Population rate was unchanged in September at 45.3%.
Initial weekly jobless claims rose 10,000 to 277,000. The 4-week average fell 1,000 to 270,750. Continuing claims fell 23,000 to 2.219 million.
The Bloomberg Consumer Comfort Index rose 1.1 points to 43.0 in the latest week.
The Fed’s balance sheet fell $-13.4 billion last week, with total assets of $4.484 trillion. Reserve bank credit fell $-8.5 billion.
The Fed reports that M2 money supply rose by $34.0 billion in the latest week.
The MBA reports that mortgage applications fell -6.7% last week, with purchases down -6.0% and refis down -8.0%.
ADP reports an estimate of 200,000 net new private-sector jobs for September.
The Chicago PMI dropped -5.7 points to 48.7. A reading below 50 indicates a contraction. This is a volatile indicator, however, it is often seen as a predictor of the national PMI, which is due out tomorrow.
As if it wasn’t obvious, Gary Kasparov summarizes it very well in today’s WSJ:
Mr. Obama has already decided to continue his policy of disengagement from the Middle East, and his platitudes about cooperation and the rule of law rang hollow in the U.N.’s General Assembly hall. Of the conflict in Syria, he said, “we must recognize that there cannot be, after so much bloodshed, so much carnage, a return to the prewar status quo.” But every listener was aware that Mr. Obama had no intention of backing his words with action.
Mr. Putin, speaking about an hour later in the same room, included his usual NATO-bashing and obvious lies. “We think it is an enormous mistake,” Mr. Putin said, “to refuse to cooperate with the Syrian government and its armed forces, who are valiantly fighting terrorism face to face.” He spoke of national sovereignty—which is very important to Mr. Putin, unless it’s the sovereignty of Georgia, Ukraine or another place where he wishes to meddle.
In other words, Mr. Obama’s speech was routine because he knows he will not act. Mr. Putin’s speech was routine because he knows he will act anyway.
And that final sentence is the best capsule of the two opposing foreign policies you’re likely to see. Mr. Obama has always been long on words – that is “talking the talk”. But he’s almost never bothered to “walk the walk”. In international politics that’s interpreted as a huge weakness. Consequently, his lack of action (i.e. backing up his words) has been constantly tested for reaction. And the reaction has always been … more words (or more “red lines”).
One of the major reasons for the rise of ISIS is the poorly thought out American withdrawal from Iraq after the Obama administration took over. With the withdrawal came the abandonment of the Sunni minority there that had been key to the Anbar Awakening that had helped make the surge a success and stabilize Iraq. ISIS was a direct result of that abandonment. One of the key questions asked by Sunni leaders to American commanders before they committed to the Awakening was, “are you going to stay”. Obama’s policy put “lie” to their promises. Now, after failing to act when ISIS first rose and trying to blame others for the rise, the administration wants a part in the defeat of ISIS (which, by the way, will have to be much more of an effort that an occasional air strike, if it is to succeed).
But there’s this “words over action” problem that Obama suffers from that certainly erodes any confidence in the viability of any US involvement. In international politics, action speaks louder than words and Mr. Putin is and has taken action. Whether or not you agree with his action or want to see Russia involved in the Middle East isn’t the point. The point we should all understand is the weak and indecisive Middle Eastern policy that this administration has pursued has handed over it’s predominant role in the region with barely a whimper. Putin hasn’t forced his way through the door there. The US has willingly opened it and all but welcomed him in.
Kasparov has a brutal conclusion which I find hard to fault:
Mr. Putin didn’t say anything new at the U.N., because he didn’t need to. He knows that he has concrete assets that are more effective than mere words. He has tanks in Ukraine, jet fighters in Syria, and Barack Obama in the White House.
The whole society felt that it was open-minded and objective. The mantra was “Diversity is good!”, and so they were diverse. They were tolerant. They were open-minded, even to concepts and philosophies that they felt were self-evidently false and dangerous. Marketplace of ideas, and all that.
So they accepted that the society had to admit barbarians – those whose ideas were contrary to the founding principles set down for the running of the society.
But then they encountered a problem. The barbarians agitated for more barbarians in the society. They pointed to how many barbarians there were in other parts of the world, and demanded more voice for barbarians.
No matter how many barbarians were let in, and no matter what accommodation was made for them, the barbarians always wanted more.
Eventually, inevitably, some parts of the society were controlled by barbarians. And, wherever that happened, the only new people admitted to that part of the society – were more barbarians. They excluded the original members. They didn’t care about tolerance or open-mindedness. All that mattered to them was promotion of their philosophy, their influence, their control.
The barbarians thought they were upstanding moral people, doing the right thing. It was obvious to them that their worldview was *right*, and those fuddy-duddies they replaced were wrong. So they had no doubts about their mission.
At times, they pretended to respect the older ways. They still didn’t control everything, and they didn’t want to arouse sufficient animosity to threaten their control. So they lied about their motives and their own tolerance. They carried out symbolic actions to reassure the gullible that they were just part of the vigorous back and forth of a free society.
But, whenever they had enough control, or whenever the stakes were high enough, they viciously enforced promotion of their own agenda. Accusations of partisanship, unfairness, or rule-breaking were brushed off, laughed off, or, if necessary, viciously counter-attacked to send a message to those who would threaten their dominance over the society.
Eventually, they wormed their way into the most important institutions of the society. Parts of it that had been founded on tolerance and openness were taken over, and transformed into citadels of rigid dogmatism. No one was admitted to thoses institutions unless they swore fealty to the fundamental rightness of the barbarians’ creed.
To ensure this end, one of the first parts of society taken over by the barbarians was the educational institutions that trained young people in becoming part of the society. They indoctrinated them all into accepting the tenets of barbarian thought with unquestioning faith.
It took a century, but at the end, only a few redoubts of the old open, tolerant society remained. The society was run by barbarians, for the promotion and benefit of barbarians in and outside the society. Anyone who didn’t accept the barbarian faith was ruthlessly attacked.
And that’s my recounting of how the society we call “the press” was taken over by the barbarian left.*
(*) This rambling was prompted by an article on the Wall Street Journal’s editoral page this morning. A barbarian, partisan leftist named William A. Galston blithely asserted that limited government types in the GOP “…want to get their own way without yielding an inch…”. This is a bald-faced lie. His entire column is a typical attempt to sound reasonable and moderate to gullible people while spewing unadulterated propaganda for the left. He is using the same techniques discussed in my post on “compromise” from a few years ago, so there’s no need for me to recount the details. He’s nothing more than a barbarian leftist pretending to be a tolerant, objective guy, carefully avoiding letting the readers know that he worked for Bill Clinton, Al Gore, and Walter Mondale, that he is a member of the academic left teaching “public policy” and is associated with the left-leaning Brookings Institute. He’s a dishonest shill, and it says a lot about the Journal that they even gave him a platform.
I’ve watched one media entity after another sucked into the barbaric left – US News and World Report, the Economist, and the WSJ have all moved left over the years I’ve been reading them. The only silver lining is that, when the barbarians take over, eventually the society is destroyed, and the legacy media is well into self-immolation.
Redbook reports that last week’s retail sales were unchanged from the previous week at a poor 0.9% on a year-ago basis.
The S&P Case-Shiller Home Price Index fell -0.2% in July, but is still up 5.0% on a year-over-year basis.
The Conference Board’s Consumer Confidence index for September rose 1.5 points to 103.0.
The State Street Investor Confidence Index rose 7.9 points in September, to a strong 116.6.
According to TIME, he is indeed!
If Vice President Joe Biden does decide to make a run for the presidency in 2016 he’ll start off the race as the most popular candidate in either party, according to a new NBC News/Wall Street Journal poll out Tuesday.
In the poll 40 percent of Americans say they have a positive impression of the Vice President and former Senator from Delaware, while just 28 percent have a negative impression—an enviable differential of +12 points. That outperforms Vermont Senator Bernie Sanders (+10) and Sec. of State Hillary Clinton (-8), as well as leading GOP candidates Ben Carson (+8), Carly Florin (+7) and Donald Trump (-33).
Were the election held today, Biden would outperform both leading Democrats in head to head matches with leading Republicans. The Vice President loses, however, in hypothetical matches with both leading Democrats, winning 17 percent to Sanders’ 35 percent and Clinton’s 42 percent.
TIME goes on to say Biden’s popularity can probably be attributed to the fact he hasn’t announced and hasn’t been subject to the serious scrutiny that candidates receive.
But it is telling that someone who isn’t in the running (but has broadly hinted at doing so), and has a reputation of a gaff-o-matic (as well as being a bit of a intellectual lightweight) could command the numbers he does now, given the “inevitable” one’s presence in the race (of course, much the same can be said about Trump).
As we all can imagine, Biden’s “honeymoon” would end soon upon his announcement as a candidate. He provides a “target rich” opportunity for opponents and detractors alike. And in an election cycle in which the voters are clearly expressing their dislike of establishment candidates, Biden is the ultimate insider.
But it would make the Democratic side of the election much more interesting if he was to announce. And certainly, much more entertaining!
Personal income rose 0.3% in August, while spending rose 0.4%. The PCE Price index was unchanged overall, but up 0.1% at the core.
The Pending Home Sales Index fell a disappointing -1.4% in August, to 109.4.
The Dallas Fed Manufacturing survey rose 6.3 points, but remains deeply negative, along with all the other Fed indicators, at -9.5.