Figuratively speaking, a ginormous asteroid is hurtling to a cataclysmic rendezvous with earth, but we are not supposed to notice. The asteroid is the rising threat from environmental degradation. Evidence is accumulating that environmental degradation is becoming global.
The Consumer Price Index for January really blew up. The monthly change was a whopping 0.6%, the largest monthly gain since February 2013. The main cause was gasoline, which jumped up 7.8% for the month. Inflation with food and energy price changes removed increased 0.3% as most costs increased.
Donald Trump’s success in the GOP primary and general election has highlighted an emerging political dynamic that has long been bubbling under the surface but lacked the prominent spokesman necessary to fundamentally change the conversation. This emerging dynamic is nationalism vs. globalism, and it is not just a phenomenon confined to Trump’s America. It is reflected in the Brexit vote and the resonance of nationalist politicians in Europe like France’s Jen-Marie Le Pen. Trump’s success is part of a broader uprising in the Western World against our global elite masters.
The Conservative Political Action Conference, better known as CPAC, starts this week. For those who are unfamiliar with CPAC, it is an annual event that takes place in Washington, DC that brings together conservative activists with conservative elected officials, leaders, journalists and celebrities. It is likely the largest and most prominent event of its kind within the conservative universe.
This week's oil data for the week ending February 10th from the US Energy Information Administration showed that our imports of crude oil fell back from last week's 4 year high but still remained elevated, while our refining of that oil fell for the 5th week in a row to the second lowest rate in a year, and as a result there was another large surplus of crude that was added to our oil supplies, which were thus boosted to an all time high.
The U.S. December 2016 monthly trade deficit decreased 3.2% from last month and now stands at $44.3 billion. For all of 2016, the trade deficit increased 0.4% from the year previous. While that doesn't sound like much, the total amount is -$502.3 billion. This is in spite of petroleum imports being much less of a trade deficit factor.
January is the month when annual adjustments are added to the unemployment report. These adjustments are just tacked onto the month of January, hence one cannot compare the past month without removing these figures. Yet, with or without the annual adjustments, this year's end result isn't much of a shift. The January unemployment rate is 4.8%. Those employed had little change as did those unemployed.
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