August 26, 2016

PBS NewsHour Cuts Anti-Hillary Portions of Judy Woodruff’s Jill Stein Interview

On Tuesday, PBS’s Judy Woodruff did a live interview with Green Party presidential candidate Jill Stein which was carried on Facebook. The entire interview, plus questions asked by viewers, is present at the network’s Facebook page.

That interview without the Facebook questions was also broadcast on PBS’s NewsHour — but not quite all of it. For some reason, key portions of Stein’s answer to Woodruff’s final question about whether “literally that Hillary Clinton is every bit as bad for the country as Donald Trump” are not present. Based on what was edited out, it would appear that the cutouts, at least one of which appears to have been done in mid-sentence, were carried out to protect Democratic Party nominee Hillary Clinton’s left flank.

(more…)

Durable Goods Orders: Worst July Since 2013, Lowest Non-January Raw Number in 36 Months

Filed under: Economy,Taxes & Government — Tom @ 10:03 am

Unlike 2013, when a big dive in actual orders led to a nearly 10 percent seasonally adjusted decline, this year’s dive converted to a 4.4 percent June-to-July increase:

DurableGoodsOrdersThru0716

Uh huh.

Big picture, for the “Well, July’s a quirky month, and the table is the sum of a bunch of line item-specific seasonal adjustments” crows: Through July, year-to-day actual new orders and shipments are both down about 1 percent.

Yet the economy is growing.

Uh huh.

Greater Cincinnati’s Heroin Disaster Deepens

Filed under: General — Tom @ 9:25 am

Accelerating casualties in Greater Cincinnati’s drug addiction epidemic:

Heroin overdoses climb over 80, three fatalities in Cincinnati and Hamilton County

This is occurring because there’s more deadly stuff than usual out on the streets — but by now, everyone should know that the potential for that is always there.

If this doesn’t convince current non-users to “just say no” — now and forever — what will?

2Q16 GDP, 2nd Estimate (082616): An Annualized 1.1 Percent, Down from Original Estimate of 1.2 Pct.

Filed under: Economy,Taxes & Government — Tom @ 8:30 am

PredictionsYahoo Economic Calendar: 1.1 percent, down from last month’s 1.2 percent. Other predictions are hard to find.

The report will be here at 8:30.

HERE IT IS (full report permanent link):

Real gross domestic product increased at an annual rate of 1.1 percent in the second quarter of 2016, according to the “second” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.8 percent.

The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was 1.2 percent. With this second estimate for the second quarter, the general picture of economic growth remains the same; revisions to the components of GDP are small.

… The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures (PCE) and exports that were partly offset by negative contributions from private inventory investment, residential fixed investment, state and local government spending and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.

The acceleration in real GDP in the second quarter primarily reflected an acceleration in PCE, a smaller decrease in nonresidential fixed investment, an upturn in exports, and a smaller decrease in federal government spending. These were partly offset by a larger decrease in private inventory investment and downturns in state and local government spending, in residential fixed investment, and in imports.

I’ll have the detailed table up shortly.

UPDATE: Here it is —

GDPcomponentsThru2Q16at082616

Not a lot of changes here. Consumption and fixed investment improvements totaling about 0.2 points were more than offset by bigger reductions for inventory change, government purchases and net exports totaling about 0.3 points.

Nothing has changed in the sense that the result is dismal. Given the declines in reported wages seen between the first and second releases, one has to wonder how the consumption increase can possibly be sustained without heavy consumer borrowing.

Friday Off-Topic (Moderated) Open Thread (082616)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

Positivity: The happiest day of Mother Teresa’s life

Filed under: Positivity — Tom @ 5:55 am

From Vatican City:

Aug 26, 2016 / 06:08 am

It’s been said that saints often come in pairs.

Sts. Peter and Paul, Mary and Joseph, Francis and Clare, and Louis and Zelie Martin are just a handful of such saints, coupled together through marriage or friendship.

Perhaps the best-known modern saintly pair of friends would be Mother Teresa and John Paul II, whose lives intersected many times during her time as Mother Superior of the Missionaries of Charity, and his pontificate.

When John Paul II came to visit Mother Teresa’s home in the heart of the slums in Kolkata in 1986, Mother Teresa called it “the happiest day of my life.”

When he arrived, Mother Teresa climbed up into the white popemobile and kissed the ring of the Bishop of Rome, who then kissed the top of Mother’s head, a greeting they would exchange almost every time they met.

After their warm hello, Mother took John Paul II to her Nirmal Hriday (Sacred Heart) home, a home for the sick and the dying she had founded in the 1950s.

Footage of the visit shows Mother Teresa leading John Paul II by the hand to various parts of the home, while he stops to embrace, bless, and greet the patients. He also blessed four corpses, including that of a child.

According to reports of the visit from the BBC, the Pope was “visibly moved” by what he saw during his visit, as he helped the nuns feed and care for the sick and the dying. At some points the Pope was so disturbed by what he saw that he found himself speechless in response to Mother Teresa.

Afterwards, the Pope gave a short address outside the home, calling Nirmal Hriday “a place that bears witness to the primacy of love.”

“When Jesus Christ was teaching his disciples how they could best show their love for him, he said: ‘Truly, I say to you, as you did it to one of the least of these my brethren, you did it to me.’ Through Mother Teresa and the Missionaries of Charity, and through the many others who have served here, Jesus has been deeply loved in people whom society often considers ‘the least of our brethren,’” the Pope remarked. …

Go here for the rest of the story.