DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Friday, March 29, 2019
The Fed's Controlled Demolition Of The Economy Is Almost Complete
The Federal Reserve is an often misunderstood entity, not only in the mainstream, but also in alternative economic circles. There is this ever pervasive fantasy on both sides of the divide that the central bank actually “cares” about forever protecting the US economy, or at least propping up the US economy in an endless game of “kick the can”. While this might be true at times, it is not true ALL the time. Things change, agendas change, and sometimes the Fed's goal is not to maintain the economy, but to destroy it.
The delusion that the Fed is seeking to kick the can is highly present today after the latest Fed meeting in which the central bank indicated there would be a pause in interest rate hikes in 2019. As I have noted in numerous articles over the past year, the mainstream media and the Fed have made interest rates the focus of every economic discussion, and I believe this was quite deliberate. In the meantime, the Fed balance sheet and its strange relationship to the stock market bubble is mostly ignored.
The word “capitulation” is getting thrown around quite haphazardly in reference to the Fed's tightening policy. And yet, even now after all the pundits have declared the Fed “in retreat” or “trapped in a Catch-22”, the Fed continues to tighten, and is set to cut balance sheet assets straight through until the end of September. Perhaps my definition of capitulation is different from some people's.
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The delusion that the Fed is seeking to kick the can is highly present today after the latest Fed meeting in which the central bank indicated there would be a pause in interest rate hikes in 2019. As I have noted in numerous articles over the past year, the mainstream media and the Fed have made interest rates the focus of every economic discussion, and I believe this was quite deliberate. In the meantime, the Fed balance sheet and its strange relationship to the stock market bubble is mostly ignored.
The word “capitulation” is getting thrown around quite haphazardly in reference to the Fed's tightening policy. And yet, even now after all the pundits have declared the Fed “in retreat” or “trapped in a Catch-22”, the Fed continues to tighten, and is set to cut balance sheet assets straight through until the end of September. Perhaps my definition of capitulation is different from some people's.
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And the winner of The Post’s Mueller Madness bracket is …
It was a tough bracket, featuring some of the biggest names in the prestige press, late-night comedians, C- and D-list celebs, scholars, think-tankers and freshly minted Russia experts. But top-seeded Rachel Maddow dribbled and scored her way past them all to clinch The Post’s #MuellerMadness trophy.
Congratulations to Maddow and her MSNBC colleagues!
More than 1,000 readers shared their brackets with us, and a large plurality (nearly a quarter) picked Maddow for the top spot. As reader Jim Murphy said, Maddow “ripped through the field like the Isiah Thomas Indiana team did back in 1981,” fueled by the conviction that it was “her job to educate ‘We the Stupid’ on every rumor and how they all fit together.”
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Suspect Caught with Drugs in Socks Allegedly Tells Police: ‘These Aren’t My Socks’
A man arrested for possession of illegal drugs found in his socks allegedly told police that the socks he was wearing weren’t his, according to reports.
Police in Austintown, Ohio, arrested Damien K. Clark Jr., 20, after the drugs were found in his socks during a traffic stop, according to Fox 13.
Officers pulled Clark over last Saturday for failure to use his turn signal, but upon approaching his vehicle, officers reported that Clark smelled heavily of marijuana. Police also said they spied loose clumps of marijuana on the car’s floorboards.
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Police in Austintown, Ohio, arrested Damien K. Clark Jr., 20, after the drugs were found in his socks during a traffic stop, according to Fox 13.
Officers pulled Clark over last Saturday for failure to use his turn signal, but upon approaching his vehicle, officers reported that Clark smelled heavily of marijuana. Police also said they spied loose clumps of marijuana on the car’s floorboards.
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"As Many As A Million Calves Lost In Nebraska" – Beef Prices To Escalate Dramatically In Coming Months
According to Agriculture Secretary Sunny Purdue, there “may be as many as a million calves lost in Nebraska” due to the catastrophic flooding that has hit the state.
This is not a rumor, this is not an exaggeration, and this is not based on any sort of speculation. This number comes to us directly from the top agriculture official in the entire country, and it means that the economic toll from the recent floods is far greater than most of us had anticipated. You can watch Purdue make this quote on Fox Business right here, and it is important to remember that this number is just for one state. It is hard to imagine what the final numbers will look like when the livestock losses for all of the states affected by the flooding are tallied up. This is already the worst agricultural disaster in modern American history, and the National Weather Service is telling us that there will be more catastrophic flooding throughout the middle portion of the nation for the next two months.
Nebraska Governor Pete Ricketts says that this is the worst flooding that his state has ever experienced. Ricketts originally told us that 65 out of the 93 counties in his state have declared a state of emergency, but that number has now risen to 74. Hundreds of millions of dollars of damage has been done in his state alone, and that is just an initial estimate.
It deeply offends me that the big mainstream news channels have spent so little time covering this disaster. This is the biggest news story of 2019 so far by a very wide margin, but because it happened in the middle of the country they are not giving it the attention that it deserves.
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This is not a rumor, this is not an exaggeration, and this is not based on any sort of speculation. This number comes to us directly from the top agriculture official in the entire country, and it means that the economic toll from the recent floods is far greater than most of us had anticipated. You can watch Purdue make this quote on Fox Business right here, and it is important to remember that this number is just for one state. It is hard to imagine what the final numbers will look like when the livestock losses for all of the states affected by the flooding are tallied up. This is already the worst agricultural disaster in modern American history, and the National Weather Service is telling us that there will be more catastrophic flooding throughout the middle portion of the nation for the next two months.
Nebraska Governor Pete Ricketts says that this is the worst flooding that his state has ever experienced. Ricketts originally told us that 65 out of the 93 counties in his state have declared a state of emergency, but that number has now risen to 74. Hundreds of millions of dollars of damage has been done in his state alone, and that is just an initial estimate.
It deeply offends me that the big mainstream news channels have spent so little time covering this disaster. This is the biggest news story of 2019 so far by a very wide margin, but because it happened in the middle of the country they are not giving it the attention that it deserves.
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Joe Biden’s missing 'I' in his talk of 'white man’s culture'
On Tuesday night, former vice president and maybe 2020 Democratic candidate, Joe Biden offered a sort-of apology and a reflection on why he had failed to do more to stand up for Anita Hill almost thirty years earlier. Condemning “a white man’s culture” and calling for broad cultural change, Biden’s forceful remarks generated plenty of media attention and criticism for not dealing more directly with his role and clear ability to have “done something” as the then-chairman of the Senate Judiciary Committee.
Biden’s words, aside from rehashing his own culpability, also put front and center the broader cultural reckoning facing the country about our own past — a reckoning that reverberates quite clearly with Trump’s slogan of “Make America Great Again” chock-full of nostalgia for days that were far worse for large portions of the country.
Biden’s remarks hinted at but didn’t quite capture something that Americana country star Jason Isbell wrote about in his haunting song “White Man’s World.” He provides an illustrative rendering of what, I would hope, had been Biden’s goal to convey to his audience:
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Biden’s words, aside from rehashing his own culpability, also put front and center the broader cultural reckoning facing the country about our own past — a reckoning that reverberates quite clearly with Trump’s slogan of “Make America Great Again” chock-full of nostalgia for days that were far worse for large portions of the country.
Biden’s remarks hinted at but didn’t quite capture something that Americana country star Jason Isbell wrote about in his haunting song “White Man’s World.” He provides an illustrative rendering of what, I would hope, had been Biden’s goal to convey to his audience:
More
Nellie Ohr met Christopher Steele at Mayflower Hotel the day before FBI's Trump-Russia investigation began
Nellie Ohr — Justice Department official Bruce Ohr’s wife — met with Trump dossier author and former British spy Christopher Steele the day before the FBI launched its Trump-Russia investigation.
The meeting took place at the Mayflower Hotel, which was described by President Harry Truman as "Washington's second-best address." President John F. Kennedy once kept an apartment — and a mistress — there. In 2008, Governor Eliot Spitzer of New York used an assumed name to book room 871 and meet a prostitute.
A newly released congressional transcript reveals her research on connections between Russia and President Trump, the Trump family, and Trump associates while she worked at Fusion GPS. She declined to answer most questions about her husband, who served as an unofficial back channel between Steele and the FBI.
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The meeting took place at the Mayflower Hotel, which was described by President Harry Truman as "Washington's second-best address." President John F. Kennedy once kept an apartment — and a mistress — there. In 2008, Governor Eliot Spitzer of New York used an assumed name to book room 871 and meet a prostitute.
A newly released congressional transcript reveals her research on connections between Russia and President Trump, the Trump family, and Trump associates while she worked at Fusion GPS. She declined to answer most questions about her husband, who served as an unofficial back channel between Steele and the FBI.
More
Pending Home Sales Tumble 4.9% YoY - 14th Straight Month Of Declines
With home price growth at the slowest rate since 2012, rates falling, and existing home sales having rebounded notably, pending home sales are expected to slow very modestly in February after rebounding in January, but they fell more than expected.
Pending Home Sales fell 1.0% MoM (against expectations of a 0.5% decline)
Lawrence Yun, NAR chief economist, is (surprise, surprise) optimistic...
Yun added that despite the growth in the West, the region’s current sales are well below the sales activity from 2018.
Pending Home Sales fell 1.0% MoM (against expectations of a 0.5% decline)
Lawrence Yun, NAR chief economist, is (surprise, surprise) optimistic...
“In January, pending contracts were up close to 5 percent, so this month’s 1 percent drop is not a significant concern,” he said.
“As a whole, these numbers indicate that a cyclical low in sales is in the past but activity is not matching the frenzied pace of last spring.”
Yun added that despite the growth in the West, the region’s current sales are well below the sales activity from 2018.
“There is a lack of inventory in the West and prices have risen too fast. Job creation in the West is solid, but there is ll a desperate need for more home construction.”
Tanker Hijacked By Migrant "Pirates" Seized By Special Forces In Mediterranean
Maltese special forces have seized a Turkish oil tanker, El Hibu 1, which had been hijacked by the very migrants it stopped to rescue in the Mediterranean Sea off the coast of Libya.
Five of the migrants have been arrested, and are accused of overpowering the vessel's 12-man crew - forcing the oil tanker's captain to cede control "through coercive action," according to the Telegraph, citing Maltese government sources.
77 of the 108 migrants - or 71% - were men, who were traveling with 19 women and 12 children.
"The captain repeatedly stated that he was not in control of the vessel and that he and his crew were being forced and threatened by a number of migrants to proceed to Malta."
The tanker was prevented from entering Maltese waters by a Maltese patrol vessel, after which a special forces unit was dispatched to board the tanker and regain control. The operation was backed up by a patrol vessel, a helicopter and two fast interceptor craft.
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Five of the migrants have been arrested, and are accused of overpowering the vessel's 12-man crew - forcing the oil tanker's captain to cede control "through coercive action," according to the Telegraph, citing Maltese government sources.
77 of the 108 migrants - or 71% - were men, who were traveling with 19 women and 12 children.
"The captain repeatedly stated that he was not in control of the vessel and that he and his crew were being forced and threatened by a number of migrants to proceed to Malta."
The tanker was prevented from entering Maltese waters by a Maltese patrol vessel, after which a special forces unit was dispatched to board the tanker and regain control. The operation was backed up by a patrol vessel, a helicopter and two fast interceptor craft.
More
Cancer Cluster At California Elementary School Results In Removal Of Sprint Cell Phone Tower
A Sprint cell phone tower will be removed from a California elementary school after four students and three teachers were diagnosed with cancer.
Weston Elementary School in Ripon, CA went on high alert after the controversy erupted two years ago - with some parents even pulling their children from school over the tower which Sprint has been paying the school $2,000 per month to place on its property.
The Ripon Unified School District initially defended the cell phone tower earlier this month, with board president Kit Oase saying tests done on the tower had found it was operating within safety standards.
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Weston Elementary School in Ripon, CA went on high alert after the controversy erupted two years ago - with some parents even pulling their children from school over the tower which Sprint has been paying the school $2,000 per month to place on its property.
The Ripon Unified School District initially defended the cell phone tower earlier this month, with board president Kit Oase saying tests done on the tower had found it was operating within safety standards.
Monica Ferrulli, whose son was treated for brain cancer in 2017, said RUSD has cited an obsolete American Cancer Society study in keeping the tower in place since the controversy erupted two years ago. “It is just denial,” Ferrulli told the board. She vowed that parents will continue to fight and keep their children out of the school. -Modesto Bee
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Accelerating "Eviction Crisis" Parallels The Sub-Prime Mortgage Crisis Of The Great Recession
A new alarming parallel between today’s eviction crisis and the sub-prime mortgage crisis which helped spur the Great Recession has surfaced. The economy is sending warning signs to those who choose to take heed.
The eviction crisis is worsening to the point that Georgia State University authors feel that protections should be put in place to safeguard renters, such as longer eviction notices and legal protection, according to Market Watch. However, that could make the crisis much worse by homeowners simply refusing to rent their properties out at all. More government intervention (whether it’s designed to protect people or not) will only make a very bad situation worse.
Evictions have become a real visible effect of the volatility in today’s economy. Stable housing is increasingly out of reach for many Americans, as both rentals and homes to own grow more expensive, options dwindle, and wages remain stagnant. But some scholars at Georgia State University, in conjunction with a ProPublica journalist, completed a new study which shows that not all evictions are created equal.
The researchers who conducted the study examined “serial” eviction filings (those done repeatedly by a landlord against a tenant). By comparing serial evictions to ordinary ones, the researchers found patterns of landlord “behavior and intentions”, some of which are reminiscent of the worst of the housing crisis a decade ago.
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The eviction crisis is worsening to the point that Georgia State University authors feel that protections should be put in place to safeguard renters, such as longer eviction notices and legal protection, according to Market Watch. However, that could make the crisis much worse by homeowners simply refusing to rent their properties out at all. More government intervention (whether it’s designed to protect people or not) will only make a very bad situation worse.
Evictions have become a real visible effect of the volatility in today’s economy. Stable housing is increasingly out of reach for many Americans, as both rentals and homes to own grow more expensive, options dwindle, and wages remain stagnant. But some scholars at Georgia State University, in conjunction with a ProPublica journalist, completed a new study which shows that not all evictions are created equal.
The researchers who conducted the study examined “serial” eviction filings (those done repeatedly by a landlord against a tenant). By comparing serial evictions to ordinary ones, the researchers found patterns of landlord “behavior and intentions”, some of which are reminiscent of the worst of the housing crisis a decade ago.
More
Kate Steinle's parents cannot sue sanctuary city for wrongful death, 9th Circuit rules
Steinle’s killer, Jose Inez Garcia-Zarate, was released by the San Francisco sheriff, Ross Mirkarimi, after a drug case against him was dropped. The sheriff’s office, which had ended contact between jail employees and immigration officials, ignored a request by federal authorities to hold Garcia-Zarate until they could assume custody and did not inform them that he was being released.
Three months later, Garcia-Zarate, who had been deported to his native Mexico five times, killed Steinle.
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https://www.foxnews.com/us/kate-steinles-parents-cannot-sue-sanctuary-city-for-wrongful-death-9th-circuit-rules
House Republicans plan another push to force a vote on anti-infanticide legislatio
House Republicans are making another move to get the Born-Alive Abortion Survivors Protection Act to the floor of the chamber for a vote, but there’s another big hurdle they’ll have to clear.
Tuesday morning, House Majority Whip Steve Scalise announced that a discharge petition for the bill, which failed in the Senate, will be filed on April 2. The catch? It’ll have to be signed by a majority of House members to get the bill to the floor.
With the current House makeup, that will require all Republicans and 20 Democrats to sign the petition.
Right now, there are currently three vacancies in the House. With 197 House Republicans, the magic number for a majority is 417, instead of the 418 required under normal circumstances. That leaves Republicans with a lot of ground to cover.
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Tuesday morning, House Majority Whip Steve Scalise announced that a discharge petition for the bill, which failed in the Senate, will be filed on April 2. The catch? It’ll have to be signed by a majority of House members to get the bill to the floor.
With the current House makeup, that will require all Republicans and 20 Democrats to sign the petition.
Right now, there are currently three vacancies in the House. With 197 House Republicans, the magic number for a majority is 417, instead of the 418 required under normal circumstances. That leaves Republicans with a lot of ground to cover.
More
Teen girls ranked by their male peers fought back not to "patronize" but to "educate"
A group of teen girls in Maryland is fighting back after their male classmates circulated a list rating and ranking 18 of them by their appearance. The Washington Post first reported that the list was sent around Bethesda-Chevy Chase High School earlier this month.
Six of the girls who appeared on the list told CBS News that when they saw the list, they felt objectified and decided it was time to stop accepting the excuse that "boys will be boys."
Jane Corcoran said she never wants another girl to feel the way she did when she saw her appearance rated on a list circulated by boys at her high school.
"I think that the female generation is always thinking what did I do to deserve this? And the answer is we did not do anything," Corcoran said. "In my head, you know, I tried to push away the thoughts that, you know, a number does not define me and I put out a confident front but it's really hard to think about 'Why is this girl a point better than me?'"
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Six of the girls who appeared on the list told CBS News that when they saw the list, they felt objectified and decided it was time to stop accepting the excuse that "boys will be boys."
Jane Corcoran said she never wants another girl to feel the way she did when she saw her appearance rated on a list circulated by boys at her high school.
"I think that the female generation is always thinking what did I do to deserve this? And the answer is we did not do anything," Corcoran said. "In my head, you know, I tried to push away the thoughts that, you know, a number does not define me and I put out a confident front but it's really hard to think about 'Why is this girl a point better than me?'"
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Jussie Smollett could take home NAACP Award Saturday
"Empire" actor Jussie Smollett is having a big week.
His charges for allegedly staging a hoax hate crime against himself were dropped, and this weekend he could take home a big award.
Smollett is nominated for Best Supporting Actor at the 50th NAACP Image Awards on Saturday.
He hasn't said whether he'll attend the televised ceremony or not.
But Smollett arrived in Los Angeles Wednesday night.
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His charges for allegedly staging a hoax hate crime against himself were dropped, and this weekend he could take home a big award.
Smollett is nominated for Best Supporting Actor at the 50th NAACP Image Awards on Saturday.
He hasn't said whether he'll attend the televised ceremony or not.
But Smollett arrived in Los Angeles Wednesday night.
More
Disney bans smoking at U.S. theme parks
Visitors will soon no longer be able to smoke at any of Disney's U.S. parks, the company announced in a blog post Thursday. Starting May 1, Disney will eliminate all smoking sections from Walt Disney World, Disneyland, California's Downtown Disney and Florida's ESPN Wide World of Sports Complex and all water parks.
Disney said smoking areas will be available outside the parks' entrances.
"As we expand our offerings, we will continue to take steps to enhance the guest experience and make it more enjoyable for everyone who visits," a Disney spokesperson told CBS News.
E-cigarettes and vape pens are included in the ban, a Disney spokesperson said.
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Disney said smoking areas will be available outside the parks' entrances.
"As we expand our offerings, we will continue to take steps to enhance the guest experience and make it more enjoyable for everyone who visits," a Disney spokesperson told CBS News.
E-cigarettes and vape pens are included in the ban, a Disney spokesperson said.
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Pelosi: We have a ‘moral obligation’ to future generations on climate change, but not against killing them in the womb
Once again, Speaker Nancy Pelosi has played the faith and morality cards to push for an agenda item, starkly showing up her own hypocrisy in the process.
“If you believe, as I do, that this is God’s creation, this planet, we have a moral responsibility to be good stewards of it,” Pelosi said Tuesday. “But even if you don’t subscribe to that, you know we have a moral responsibility to future generations.”
The speaker made the remarks at a press conference for the “Climate Action Now Act” alongside other House Democrats.
Contrast that with Pelosi’s pro-abortion position, which is in direct opposition to the teachings of her faith, since she self-identifies as a Catholic.
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“If you believe, as I do, that this is God’s creation, this planet, we have a moral responsibility to be good stewards of it,” Pelosi said Tuesday. “But even if you don’t subscribe to that, you know we have a moral responsibility to future generations.”
The speaker made the remarks at a press conference for the “Climate Action Now Act” alongside other House Democrats.
Contrast that with Pelosi’s pro-abortion position, which is in direct opposition to the teachings of her faith, since she self-identifies as a Catholic.
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