Lawrence Person's BattleSwarm Blog 3/29/2024
Lies trying to hide how bad the Biden Recession sucks continue to unravel, a mini Texas-vs.-California update, Ukraine makes another oil refinery go boom, true depths of human depravity, some Bill Burr and Critical Drinker links, and two tons of Murica. It’s the Friday LinkSwarm!
• Dallas Fed manufacturing survey: “It’s A Far Deeper Recession Than Publicized.”
Against expectations of a small improvement from -11.3 to -10.0, the headline sentiment gauge dropped to -14.4 (the lowest end of analysts’ forecasts).
Furthermore, the production index, a key measure of state manufacturing conditions, fell five points to -4.1, a reading that suggests a slight decline in output month over month.
Other measures of manufacturing activity also indicated declines this month.
The new orders index – a key measure of demand – dropped 17 points to -11.8 after briefly turning positive last month.-----
Also worse than reported: employment numbers. “Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000.”
We first have to go back to December 2022, when we reported something shocking: as part of its data analysis of the “more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program”, the Philadelphia Fed found that the BLS had overstated jobs to the tune of 1.1 million! This is what the Philadelphia Fed wrote in its quarterly Early Benchmark Revision of State Payroll Employment report at the time:
Our estimates incorporate more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program to augment the sample data from the BLS’s CES that are issued monthly on a timely basis. All percentage change calculations are expressed as annualized rates. Read more about our methodology.
Learn more about interpreting our early benchmark estimates.-----
• I think I link a story like this every year: “California Leads Among U.S. States Sending People to Texas in 2022. Florida and New York combined sent fewer people to Texas than California.” Leave any leftwing politics behind when you move…
• California has a $55 billion deficit. But don’t worry, for the 24-25 fiscal year, it’s a $73 billion deficit.
• Ukraine hits another Russian oil refinery, this time in Samara.
• “Russian network that ‘paid European politicians’ busted.”
A Russian-backed “propaganda” network has been broken up for spreading anti-Ukraine stories and paying unnamed European politicians, according to authorities in several countries.
Investigators claimed it used the popular Voice of Europe website as a vehicle to pay politicians.
The Czech Republic and Poland said the network aimed to influence European politics.-----
• “Abbott says he needs ‘two more votes’ to pass school choice.” Presumably he’ll get those (and then some) in the May runoff.
• “$100M missing from Bay area trust fund management company. A Bay area father who counted on a local non-profit to handle a trust fund designed for his daughter’s long-term care feels duped.” And this is a trust for special needs kids.
• Another dispatch from the decline of Charm City.
The radical leftists in control of Baltimore City Hall have plunged the metro area just north of Washington, DC, into apocalyptic levels. We advise readers to entirely avoid the metro area as violent crime spirals out of control. ----
• Don’t click on this link unless you want to plumb the depths of human depravity. Noteworthy: “He and his husband.”
• Flagstaff school board wants to parents to know they’re going to shove social justice down their children’s throats no matter what.
• “GOP Delegates Adopt Resolutions Criticizing H-E-B CEO Charles Butt for Anti-School Choice Donations.”
• Republicans file bill to strip money from woke medical schools.
• Stellantis, AKA The European Monster That Ate Chrysler, just just laid off a whole bunch of white collar workers. Note their mention of focusing on “implementing our EV product offensive.” Oh yeah, they’re boned.
• Speaking of EV layoffs, Ford is cutting down the staff of their F-150 Lightning plant to one third of what it was. The Lightning is enjoying a double whammy, in that people don’t want EVs, and Ford’s core customers can no longer afford trucks with an average selling price north of $80,000.
• The federal government is going to allow a shuttered nuclear power plant to be restarted. “The federal government announced that it would provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan. NJ-based Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it, but with support from the state of Michigan and the Biden administration, the emphasis has shifted to restarting the nuclear power plant by late 2025 instead.” Not wild about the loan part, but restarting America’s nuclear energy growth is long overdue.
Much More:
https://www.battleswarmblog.com/?p=57609
