The ugly reality of inflation has begun to raise its head.
As we have noted previously, inflation is WELL above the Fed’s so-called target of 2%. Indeed, two of the Fed’s own in-house measures of inflation (the NY Fed UIG and Atlanta Fed Sticky Inflation measures) are clocking in at 3.14% and 2.5%, respectively.
That, in of itself, is a REAL problem for the debt-based financial system. Since 2008, the US has added over $9 trillion in public debt along with another $3 trillion in corporate debt, and $1.2 trillion in consumer debt.
ALL OF THIS was based on the assumption that interest rates would stay low.
So much for that. The yield on the 10-Year US Treasury has now spiked to 3%, breaking a 10-year downtrend.
Put simply, for a world that is TOTALLY saturated in debt like the US today, that blue box in the chart below is a MAJOR problem.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Sunday, April 29, 2018
Saturday, April 28, 2018
Men Just Received The Best Scientific Advice in History
The Sun’s Andrea Downey has lightened the hearts of millions of men around the planet with her prescription for increasing their life expectancy: stare at boobs.
That’s only one of the six ways men can boost their life expectancy, according to Downey, who makes a compelling argument. Here are the six ways:
1. Stare at boobs.
Downey points out, “Staring at boobs creates a positive mindset in men … A 2012 study, published in the Archives of Internal Medicine, looked at the effects positive thinking had on men’s health. After a year, positive thinking had a powerful effect on health choices.”
Downey notes that over half of the men who had coronary heart disease but thought positively upped their exercise, as opposed to 37% who did not think positively; similar results were found among men with high blood pressure.
That’s only one of the six ways men can boost their life expectancy, according to Downey, who makes a compelling argument. Here are the six ways:
1. Stare at boobs.
Downey points out, “Staring at boobs creates a positive mindset in men … A 2012 study, published in the Archives of Internal Medicine, looked at the effects positive thinking had on men’s health. After a year, positive thinking had a powerful effect on health choices.”
Downey notes that over half of the men who had coronary heart disease but thought positively upped their exercise, as opposed to 37% who did not think positively; similar results were found among men with high blood pressure.
So far, so good.
The War Between Public Pensioners And Tax Donkeys Is Heating Up
The migration is only beginning, but that's only half the story.
You know it's serious when the newspaper of record finally reports it: A $76,000 Monthly Pension: Why States and Cities Are Short on Cash (New York Times).
It's a long article but the summary is brief: corrupt politicos promised the moon to public employees, and now the fiscal chickens of insolvency are coming home to roost.
Public pension obligations are rising so fast that even repeated tax increases can't keep up.
This is setting up a second front in the war between entitled Baby Boomers and younger taxpayers who pay most of the federal and local taxes. Public pensioners are a subset of the entitled Baby Boomers, but their pensions can't be paid with borrowed money like Social Security and Medicare; public pension obligations come out of local and state taxes, and as those obligations soar then public services must be slashed and taxes jacked up by annual double-digit increases.
So there is a war brewing between public pensioners and the Tax Donkeys: the Unprotected who pay local property taxes on their homes, state and local taxes on their incomes, sales taxes on their purchases, junk fees on local government services, and so on.
Corrupt politicos created the war by over-promising benefits to public employees and ignoring fiscal realities. By the time the bill comes due, the politicos who rubber-stamped the unaffordable promises are themselves gorging at the public-pension retiree trough.
Not every public employee is receiving gold-plated pensions and benefits, of course, but that doesn't negate the reality that nationally, public pensions are increasing faster than government revenues and the returns earned by the pension programs.
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You know it's serious when the newspaper of record finally reports it: A $76,000 Monthly Pension: Why States and Cities Are Short on Cash (New York Times).
It's a long article but the summary is brief: corrupt politicos promised the moon to public employees, and now the fiscal chickens of insolvency are coming home to roost.
Public pension obligations are rising so fast that even repeated tax increases can't keep up.
This is setting up a second front in the war between entitled Baby Boomers and younger taxpayers who pay most of the federal and local taxes. Public pensioners are a subset of the entitled Baby Boomers, but their pensions can't be paid with borrowed money like Social Security and Medicare; public pension obligations come out of local and state taxes, and as those obligations soar then public services must be slashed and taxes jacked up by annual double-digit increases.
So there is a war brewing between public pensioners and the Tax Donkeys: the Unprotected who pay local property taxes on their homes, state and local taxes on their incomes, sales taxes on their purchases, junk fees on local government services, and so on.
Corrupt politicos created the war by over-promising benefits to public employees and ignoring fiscal realities. By the time the bill comes due, the politicos who rubber-stamped the unaffordable promises are themselves gorging at the public-pension retiree trough.
Not every public employee is receiving gold-plated pensions and benefits, of course, but that doesn't negate the reality that nationally, public pensions are increasing faster than government revenues and the returns earned by the pension programs.
More
DeSantis: IG Probe Of Comey ‘Probably Just The Beginning’
The Department of Justice’s probe of former FBI Director James Comey is “probably just the beginning” of more problems for Comey, Republican Florida Rep. Ron DeSantis said Friday.
At least two memos that Comey leaked to a friend outside the government contained classified information, The Wall Street Journal reported Friday. The DOJ’s inspector general is now investigating Comey’s release of the memos, the Journal reported.
The memos contained Comey’s account of several interactions he had with President Donald Trump while serving as FBI director. Comey leaked the memos’ contents to the media through a friend in order to spur the appointment of a special counsel to oversee the Russia investigation, Comey testified on June 8.
“Referral of Comey due to transmitting classified info was justified and this IG action is probably just the beginning,” DeSantis wrote on Twitter following Friday’s news of the DOJ probe into Comey.
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At least two memos that Comey leaked to a friend outside the government contained classified information, The Wall Street Journal reported Friday. The DOJ’s inspector general is now investigating Comey’s release of the memos, the Journal reported.
The memos contained Comey’s account of several interactions he had with President Donald Trump while serving as FBI director. Comey leaked the memos’ contents to the media through a friend in order to spur the appointment of a special counsel to oversee the Russia investigation, Comey testified on June 8.
“Referral of Comey due to transmitting classified info was justified and this IG action is probably just the beginning,” DeSantis wrote on Twitter following Friday’s news of the DOJ probe into Comey.
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Fifteen Things To Know About ‘Pakistani Mystery Man’ Imran Awan
The “Pakistani Mystery Man” is Imran Awan, who worked as Rep. Debbie Wasserman Schultz’s email server administrator in the House of Representatives. Nearly his entire family then joined the payroll of other Democrats, until they worked for 1 in 5 House Democrats and had — as the House inspector general called it — the ‘keys to the kingdom‘ and ability to access any file.
1. Imran worked for Debbie Wasserman Schultz since 2004 and had the passwords to her devices
A search of his name on WikiLeaks shows the DNC summoned Imran when they needed her device unlocked.
2. During the 2016 election, the House’s Office of Inspector General warned that Imran and his family were making “unauthorized access” to data
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1. Imran worked for Debbie Wasserman Schultz since 2004 and had the passwords to her devices
A search of his name on WikiLeaks shows the DNC summoned Imran when they needed her device unlocked.
2. During the 2016 election, the House’s Office of Inspector General warned that Imran and his family were making “unauthorized access” to data
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EXCLUSIVE -- Research: Google Search Manipulation Can Swing Nearly 80 Percent of Undecided Voters
By inserting negative search suggestions under the name of a candidate, search engines like Google can shift the opinions of undecided voters by up to 43.4 percent, according to newresearch by a team at the American Institute for Behavioral Research and Technology and reported exclusively by Breitbart News.
The lead author of the study, Dr. Robert Epstein, has previously conducted research into what he calls the Search Engine Manipulation Effect (SEME). This research showed that the manipulation of results pages in search engines can shift the voting preferences of undecideds by anywhere between 20 and 80 percent, depending on the demographic.
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The lead author of the study, Dr. Robert Epstein, has previously conducted research into what he calls the Search Engine Manipulation Effect (SEME). This research showed that the manipulation of results pages in search engines can shift the voting preferences of undecideds by anywhere between 20 and 80 percent, depending on the demographic.
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Student Confronts Nancy Pelosi Over ‘Crumbs’ Comment — Tax Cuts ‘Helped Put Me Through College’
A student at Georgetown University confronted House Minority Leader Nancy Pelosi Tuesday over her infamous “crumbs” comment.
WATCH:
WATCH:
Tonight At Trader Lee's
Alan Dershowitz: Trump foes seek to take away his legal rights -- endangering everyone's rights
Many traditional civil libertarians have allowed their intense hatred of President Trump to erase their longstanding commitment to neutral civil liberties and equal justice for all – a dangerous move that threatens the rights of us all.
The anti-Trump forces are now so desperate to get the president convicted of a crime or impeached that they are prepared to compromise the most basic due process rights of the president and people associated with him who are caught up in Special Counsel Robert Mueller’s ever-widening Russia probe and a related investigation of the president’s personal attorney, Michael Cohen.
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The anti-Trump forces are now so desperate to get the president convicted of a crime or impeached that they are prepared to compromise the most basic due process rights of the president and people associated with him who are caught up in Special Counsel Robert Mueller’s ever-widening Russia probe and a related investigation of the president’s personal attorney, Michael Cohen.
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http://www.foxnews.com/opinion/2018/04/25/alan-dershowitz-trump-foes-seek-to-take-away-his-legal-rights-endangering-everyones-rights.html
Governor Larry Hogan Signs Landmark Economic Development Legislation
Administration Initiatives Include Economic Incentives for Amazon HQ2 and Dedicated Funding for Metro
ANNAPOLIS, MD – Governor Hogan was today joined by Senate President Thomas V. “Mike” Miller and Speaker of the House Michael Busch to sign into law two pieces of historic legislation passed during the 2018 Maryland General Assembly session, the Promoting ext-Raordinary Innovation in Maryland's Economy, or PRIME Act (SB 877) and the Maryland Metro/Transit Funding Act (SB 277/HB 372). The governor and presiding officers were also joined by Montgomery County Executive Ike Leggett, Washington Metropolitan Area Transit Authority (WMATA) CEO and General Manager Paul Wiedefeld, and numerous other elected officials, stakeholders, and community leaders.
The governor commemorated the occasion by taking a ride on Metro’s Red Line from Bethesda to the Grosvenor-Strathmore station prior to the signing ceremony at The Music Center at Strathmore.
“These two critical pieces of legislation are excellent examples of our administration working in a bipartisan fashion to achieve real results for the people of Maryland,” said Governor Hogan. “Dedicated public transportation funding and the potential economic boom of more than 100,000 new jobs with Amazon HQ2 are vital to Maryland’s advancement.”
The PRIME Act, which the governor introduced following Montgomery County’s selection as one of 20 potential locations for Amazon’s HQ2, provides $3 billion in tax credits and exemptions if and when Amazon locates in Maryland and creates a requisite number of jobs and economic activity. The centerpiece of the financial incentive package would allow the company to retain a portion of wages paid to employees, which would otherwise go toward state income taxes. The entire incentive package is strictly contingent upon Amazon choosing to locate in Maryland and meeting promised job creation targets. The governor’s plan also calls for significant transportation upgrades to the area around the potential site, which will also benefit local businesses and residents.
“This legislation puts Maryland in prime position to attract Amazon’s new headquarters, which would generate more than $17 billion annually to our state economy,” said Governor Hogan. This is the biggest and most substantial economic development opportunity in a generation.”
ANNAPOLIS, MD – Governor Hogan was today joined by Senate President Thomas V. “Mike” Miller and Speaker of the House Michael Busch to sign into law two pieces of historic legislation passed during the 2018 Maryland General Assembly session, the Promoting ext-Raordinary Innovation in Maryland's Economy, or PRIME Act (SB 877) and the Maryland Metro/Transit Funding Act (SB 277/HB 372). The governor and presiding officers were also joined by Montgomery County Executive Ike Leggett, Washington Metropolitan Area Transit Authority (WMATA) CEO and General Manager Paul Wiedefeld, and numerous other elected officials, stakeholders, and community leaders.
The governor commemorated the occasion by taking a ride on Metro’s Red Line from Bethesda to the Grosvenor-Strathmore station prior to the signing ceremony at The Music Center at Strathmore.
“These two critical pieces of legislation are excellent examples of our administration working in a bipartisan fashion to achieve real results for the people of Maryland,” said Governor Hogan. “Dedicated public transportation funding and the potential economic boom of more than 100,000 new jobs with Amazon HQ2 are vital to Maryland’s advancement.”
The PRIME Act, which the governor introduced following Montgomery County’s selection as one of 20 potential locations for Amazon’s HQ2, provides $3 billion in tax credits and exemptions if and when Amazon locates in Maryland and creates a requisite number of jobs and economic activity. The centerpiece of the financial incentive package would allow the company to retain a portion of wages paid to employees, which would otherwise go toward state income taxes. The entire incentive package is strictly contingent upon Amazon choosing to locate in Maryland and meeting promised job creation targets. The governor’s plan also calls for significant transportation upgrades to the area around the potential site, which will also benefit local businesses and residents.
“This legislation puts Maryland in prime position to attract Amazon’s new headquarters, which would generate more than $17 billion annually to our state economy,” said Governor Hogan. This is the biggest and most substantial economic development opportunity in a generation.”
Somerset County Sheriff's Office reports most recent arrests
Jeffrey Michael Faber of Princess Anne, arrested 4-10-18 for possession of cds, not marijuana, possession of marijuana, possession of drug paraphernalia, and speeding. The arrest was a result of a traffic stop conducted by Sgt. Daum in the area of Crisfield Highway. Where he later recovered a small amount of suspected THC extract, and marijuana. Faber was later released on personal recognizance.
Jonathan Tyler Williams of Princess Anne, arrested 4-14-18 on a Wicomico County fail to appear warrant. Williams was later released on personal recognizance. Deputies were called to the area of Fenlon Circle, Princess Anne regarding a noise complaint. After conducting wanted checks, Deputies learned of the Wicomico County warrant.
Eric Carlton Jones Jr. of Crisfield, arrested 4-15-18 for driving under the influence of alcohol, driving while impaired by alcohol, driver consuming alcohol while driving, driving on a suspended driver’s license, negligent driving, and speeding. Jones was later released on citations pending court actions.
Nicollette Linda Walston of Crisfield, criminal summons served 4-16-18 regarding failing to send child to school. Walston was later released on signature pending court actions.
Jody Lynn Rote of Princess Anne, criminal summons served 4-16-18 regarding harass by electronic mail, and harass , course of conduct. Rote was later released on signature pending court actions.
Travis Lamar Duffy of Princess Anne, arrested 4-17-18 on a warrant for violation of probation. Duffy was later held without bond.
Jonathan Tyler Williams of Princess Anne, arrested 4-14-18 on a Wicomico County fail to appear warrant. Williams was later released on personal recognizance. Deputies were called to the area of Fenlon Circle, Princess Anne regarding a noise complaint. After conducting wanted checks, Deputies learned of the Wicomico County warrant.
Eric Carlton Jones Jr. of Crisfield, arrested 4-15-18 for driving under the influence of alcohol, driving while impaired by alcohol, driver consuming alcohol while driving, driving on a suspended driver’s license, negligent driving, and speeding. Jones was later released on citations pending court actions.
Nicollette Linda Walston of Crisfield, criminal summons served 4-16-18 regarding failing to send child to school. Walston was later released on signature pending court actions.
Jody Lynn Rote of Princess Anne, criminal summons served 4-16-18 regarding harass by electronic mail, and harass , course of conduct. Rote was later released on signature pending court actions.
Travis Lamar Duffy of Princess Anne, arrested 4-17-18 on a warrant for violation of probation. Duffy was later held without bond.
PUSH COMES TO SHOVE: University Of Minnesota Trying To Force Shapiro Lecture Off-Campus
Elizabeth Warren and Al Franken spoke in the biggest hall, but the university won't allow Shapiro there.
The University of Minnesota has decided to take the pusillanimous route, attempting to force the upcoming lecture from Daily Wire Editor-in-Chief Ben Shapiro away from venues on the main campus in order to avoid demonstrations with leftists that might erupt. Venues that were rejected for Shapiro’s February 26 lecture, part of the David and Marlyce Logan Advancing Freedom Lecture Series for Young America’s Foundation(YAF), include Ted Mann Concert Hall, (capacity 1500), Willey Hall (capacity 800), and Mayo Memorial Auditorium (capacity 450), all located on the main Minneapolis campus.
The University of Minnesota has decided to take the pusillanimous route, attempting to force the upcoming lecture from Daily Wire Editor-in-Chief Ben Shapiro away from venues on the main campus in order to avoid demonstrations with leftists that might erupt. Venues that were rejected for Shapiro’s February 26 lecture, part of the David and Marlyce Logan Advancing Freedom Lecture Series for Young America’s Foundation(YAF), include Ted Mann Concert Hall, (capacity 1500), Willey Hall (capacity 800), and Mayo Memorial Auditorium (capacity 450), all located on the main Minneapolis campus.
Having a fat belly DOUBLES the risk of heart attack or stroke
A fat belly is bad for your heart - even in people who are not otherwise overweight, warns a new study.
People whose waist is bigger than their hips may be at twice the risk of a dangerous heart attack and should see their doctor immediately, researchers warn.
The obesity epidemic is widely cited for driving the down life expectancy for two-thirds of Americans.
But the new study from the Mayo Clinic and Czech researchers suggests that you do not have to be overweight for your belly to threaten your heart health.
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People whose waist is bigger than their hips may be at twice the risk of a dangerous heart attack and should see their doctor immediately, researchers warn.
The obesity epidemic is widely cited for driving the down life expectancy for two-thirds of Americans.
But the new study from the Mayo Clinic and Czech researchers suggests that you do not have to be overweight for your belly to threaten your heart health.
More
Trump To "Counter" DNC Lawsuit; Seeks Servers, Clinton Emails And "Pakistani Mystery Man"
President Trump is eager to go head-to-head with the DNC which filed a multimillion-dollar lawsuit on Friday against several parties, including the Russian government, the Trump campaign and the WikiLeaks organization - alleging a "far-reaching conspiracy to disrupt the 2016 campaign and tilt the election to Donald Trump."
Hours after the Washington Post broke the news of the lawsuit, Trump tweeted "Just heard the Campaign was sued by the Obstructionist Democrats. This can be good news in that we will now counter for the DNC server that they refused to give to the FBI," referring to the DNC email breach. Trump also mentioned "the Debbie Wasserman Schultz Servers and Documents held by the Pakistani mystery man and Clinton Emails."
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Hours after the Washington Post broke the news of the lawsuit, Trump tweeted "Just heard the Campaign was sued by the Obstructionist Democrats. This can be good news in that we will now counter for the DNC server that they refused to give to the FBI," referring to the DNC email breach. Trump also mentioned "the Debbie Wasserman Schultz Servers and Documents held by the Pakistani mystery man and Clinton Emails."
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China Assigns Every Citizen A ‘Social Credit Score’
China is rolling out a high-tech plan to give all of its 1.4 billion citizens a personal score, based on how they behave.
But there are consequences if a score gets too low, and for some that’s cause for concern, CBS2’s Ben Tracy reported Tuesday.
When Liu Hu recently tried to book a flight, he was told he was banned from flying because he was on the list of untrustworthy people. Liu is a journalist who was ordered by a court to apologize for a series of tweets he wrote and was then told his apology was insincere.
“I can’t buy property. My child can’t go to a private school,” he said. “You feel you’re being controlled by the list all the time.”
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But there are consequences if a score gets too low, and for some that’s cause for concern, CBS2’s Ben Tracy reported Tuesday.
When Liu Hu recently tried to book a flight, he was told he was banned from flying because he was on the list of untrustworthy people. Liu is a journalist who was ordered by a court to apologize for a series of tweets he wrote and was then told his apology was insincere.
“I can’t buy property. My child can’t go to a private school,” he said. “You feel you’re being controlled by the list all the time.”
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Inflation Is Here.. Get Used To It!
I stopped to grab a burger in Marin County today and was kind of shocked to see the following posted on the front door...
That is a pretty steep starting wage for non-skilled labor, and $5.00 more than the California minimum wage.
In-N-Out does pay their employees well. The private burger chain pays store managers an average yearly salary of more than $160,000 with no college degree or previous management experience required. Facebook engineers soon to be flipping burgers.
Nonbinding
It is clear the minimum wage in California is nonbinding — that is irrelevant — and all the bluster about raising it would cause unemployment is just that, bluster.
During softer economic times, when the minimum wage is binding, the story changes. Not now, however.
That is a pretty steep starting wage for non-skilled labor, and $5.00 more than the California minimum wage.
In-N-Out does pay their employees well. The private burger chain pays store managers an average yearly salary of more than $160,000 with no college degree or previous management experience required. Facebook engineers soon to be flipping burgers.
Nonbinding
It is clear the minimum wage in California is nonbinding — that is irrelevant — and all the bluster about raising it would cause unemployment is just that, bluster.
During softer economic times, when the minimum wage is binding, the story changes. Not now, however.
Passing It On
Nevertheless, it did feel prices have risen for a burger, fries, and soda since the last time I was in an In-N-Out. I think it cost me around $8.50 today.
Does anyone remember the days of a $.35 Big Mac?
Nevertheless, it did feel prices have risen for a burger, fries, and soda since the last time I was in an In-N-Out. I think it cost me around $8.50 today.
Does anyone remember the days of a $.35 Big Mac?
Real Minimum Wage Higher
Here is what is interesting about that $16.00 per hour offer.
In 1980, the minimum wage was $3.10 per hour, which equates to $9.94 in today’s inflation-adjusted dollars. The minimum wage is $11.00 in California, so a slight increase in the real wage.
If In-N-Out is forced to pay almost 50 percent above that to attract decent burger flippers and the company can pass it on in higher prices, inflation cometh is here, folks.
Other firms will have to pay higher wages to keep and attract their workers if In-N-Out is going to start bidding up the labor market.
We are happy for the entry-level workers, high school, and college kids that now have a higher return on their labor. However, that is only half the story.
Many of the lower paid workers are not entry-level.
Some, reemployed from much higher paying jobs, some are seniors who cannot afford retirement.
We suspect, though wages are raging at the lower end, companies are laying off older expensive workers and hiring younger cheaper workers to keep labor costs in check, and is one reason why the official wage numbers are not spiking. We are not certain on this and have to further research it.
More
Here is what is interesting about that $16.00 per hour offer.
In 1980, the minimum wage was $3.10 per hour, which equates to $9.94 in today’s inflation-adjusted dollars. The minimum wage is $11.00 in California, so a slight increase in the real wage.
If In-N-Out is forced to pay almost 50 percent above that to attract decent burger flippers and the company can pass it on in higher prices, inflation cometh is here, folks.
Other firms will have to pay higher wages to keep and attract their workers if In-N-Out is going to start bidding up the labor market.
We are happy for the entry-level workers, high school, and college kids that now have a higher return on their labor. However, that is only half the story.
Many of the lower paid workers are not entry-level.
Some, reemployed from much higher paying jobs, some are seniors who cannot afford retirement.
We suspect, though wages are raging at the lower end, companies are laying off older expensive workers and hiring younger cheaper workers to keep labor costs in check, and is one reason why the official wage numbers are not spiking. We are not certain on this and have to further research it.
More
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