Denial is a form of euthanasia for the elderly. It's merciful...
"New highs any day now..."
Governor Cuomo made the offhand comment yesterday that the U.S. was never that "great" in the past, due to its history of sexism, slavery, and exploitation. The Idiocracy almost shit a brick, including the denialist-in-chief. After all it's one thing to run on the recurring fantasy of Make America Great Again, and quite another thing to say that the 1950s wasn't the utopia we all know it was. Back then women knew their place and so did all of those fucking brown people stealing the berry-picking jobs. "New highs any day now..."
Speaking of denial, the casino is bid today compliments of Walmart's "best quarter in a decade". Which highlights the chasmic divergence between stock market denialists and bond market realists at this pivotal juncture.
First, the realists:
"Core consumer prices ran at the hottest yearly rate since September 2008. Rather than viewing July’s consumer price data as a warning sign, some economists expect the data point to mark the peak in the inflation cycle. That’s in part because many of the drivers in July’s price surge were one-off boosters that are likely to diminish in the coming months."
Bear in mind that revenue growth is not adjusted for inflation:
In other words, Walmart revenue got a one-off boost from decade-high inflation readings that was inconveniently misconstrued as a return of the jobless consumer. Whereas, sadly it happens to be the exact opposite - the end of the cycle. You know, the same way it was a decade ago:
What is being sold as decade high revenue growth is actually an entire decade of ZERO real revenue growth.
As I've said, these are not bright people, and they have the attention span of a coked up flea:
