One article, topping the news today, points strongly toward recession having already started, as I’ve claimed, and another one points out some of the ways, as I wrote in my last Deeper Dive, that the BLS job numbers look very much like BS job numbers to where they do not undermine the recession narrative because they are simply wrong!
The article on recession already being in play is particularly strong because it relies on new metrics that have not been quoted elsewhere that have, when they align with each other as they do now, always been right about our already being in a recession. If they are currently wrong about that, this would be their first error.
Two other articles that are interesting in terms of my claims about our present economic situation support my thesis that inflation is back to building. The yield curve has shifted back to predicting inflation ahead, and one of the areas of the economy that saw major DEflation that contributed a lot to taking CPI down appears to have come to the end of its deflationary anchor to CPI.
Besides these shakeup that may be building against the consensus views on recession and inflation, there are some shakeups on the election front, too. Kamala is said to have bombed in an interview where CBS broke ranks with Democrat interests in a way you nevr see, and grilled her lightly on her flip-flops, while, on the other side, Christians that have been a strong support for Trump are pulling away from him.
The latest Barna poll shows that nearly half of all Christians polled are not planning to vote this December at all. Like me, they can’t stand either Team Biden or Trump. So, they’re pulling away. Because we’re talking tens of millions of voters, that can easily swing the election all by itself. Their drift and Klobbered Kamala interview fails leave the election as much up in the air as ever.
That’s potentially bad news for Elon Musk, who says in words a little harsher than I’ll use, that he’s really screwed if Trump loses.
With all of that confusion in how the economy and election can swing in the next month, we also have one of the most bizarre hurricanes in recorded weather history. First, it formed in the western gulf and moved eastward toward Florida—a peculiar movement I highlighted by adding to one headline yesterday that has only happened with a major hurricane four times in history.
It appears Mighty Milton will hit Tampa, which will make it the largest hurricane to hit that highly populous area in a hundred years. The last time such a hurricane hit Tampa, the area was almost unpopulated. So, this will likely be the worst damage Tampa has ever experienced with all the whirling junk left strewn about by Helene’s flooding adding to the chaos. Milton brewed up from a category 3 to a category 4 in one hour and then up to a Cat. 5 in just one more hour, making it one of the fastest ramps up in intensity of any hurricane on record, notably scaring one of the meteorologists who practically cries as he reports on this monster.
Of course, all of this is being attributed to global warming before it even plays out. However, no one asks how the matching hurricane from over a hundred years ago that slammed into Tampa Bay managed to happen without human-caused global warming, which makes it hard to know how much the present reports about Milton might be distorted by desire to turn it from the storm of the century into the storm of the millennium in the tales being told about it.
Still, it looks like a monster and an odd one that that. I am now wondering with concern if all those evacuees clogging the freeways for hundreds of miles will make it out without getting trapped on the freeways during the peak of the storm. Not a place I’d want to be stuck. It looks like this is going to be bad.