June 30, 2017

AP’s Latest Fable: Global Warming ‘Will’ Hit GDP of ‘Poor and Southern’ Counties

Seth Borenstein at the Associated Press and those pushing for radical wealth redistribution in the name of “climate change” just can’t past their hysteria over President Donald Trump’s unilateral decision to withdraw from the Paris Climate Accords. Trump’s move reversed former President Barack Obama’s unilateral decision to sign on. Borenstein’s latest exercise in hyperbole on Thursday gave free publicity to a study which absurdly pretends to project the economic impact of alleged global warming over 80 years out. The study’s authors appear not to realize that the allegedly frightening impacts they’re projecting aren’t intimidating at all.

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1Q17 Gross Domestic Product, Third Estimate: An Annualized 1.4 Percent, Up From Previous 1.2 Percent Estimate and 0.7 Percent Originally Reported

Filed under: Economy,Taxes & Government — Tom @ 9:05 am

From the Bureau of Economic Analysis:

Real gross domestic product (GDP) increased at an annual rate of 1.4 percent in the first quarter of 2017 (table 1), according to the “third” estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2016, real GDP increased 2.1 percent.

The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 1.2 percent.

With the third estimate for the first quarter, personal consumption expenditures (PCE) and exports increased more than previously estimated, but the general picture of economic growth remains the same (see “Updates to GDP” on page 2).

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

The deceleration in real GDP in the first quarter reflected a downturn in private inventory investment, a deceleration in PCE, and a downturn in state and local government spending that were partly offset by an upturn in exports, an acceleration in nonresidential fixed investment, and a deceleration in imports.

Current-dollar GDP increased 3.4 percent, or $157.7 billion, in the first quarter to a level of $19,027.1 billion. In the fourth quarter, current-dollar GDP increased 4.2 percent, or $194.1 billion (table 1 and table 3).

The price index for gross domestic purchases increased 2.5 percent in the first quarter, compared with an increase of 2.0 percent in the fourth quarter (table 4). The PCE price index increased 2.4 percent, compared with an increase of 2.0 percent. Excluding food and energy prices, the PCE price index increased 2.0 percent, compared with an increase of 1.3 percent (appendix table A).

Updates to GDP

The upward revision to the percent change in real GDP primarily reflected upward revisions to PCE and to exports which were partly offset by a downward revision to nonresidential fixed investment. For more information, see the Technical Note. For information on updates to GDP, see the “Additional Information” section that follows.

The updated chart will appear shortly.

HERE IT IS:

GDPcomponentsThru1Q17at063017

The only change above 0.1 points was in health care, which, as it has during almost the entire Obamacare era, has disproportionately taken up more and more of GDP without (in my opinion) meaningfully affected living standards.

The major news from the first quarter is the 1.23-point contribution of fixed nonresidential, i.e., business, investment. It’s the highest quarterly contribution since the fourth quarter of 2013, and if sustained for a year, would be the highest contribution since 2000. Obviously, the question is whether it can be sustained. But it’s a start.

 

Friday Off-Topic (Moderated) Open Thread (063017)

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: MLB umpire earns save after rescuing woman on bridge

Filed under: Positivity — Tom @ 5:55 am

From Pittsburgh (video at link):

June 29, 2017 – 1:55 am

John Tumpane can’t explain why he approached the woman as she hopped over the railing of the Roberto Clemente Bridge on Wednesday afternoon.

The woman told Tumpane she just wanted to get a better view of the Allegheny River below. The look on her face and the tone of her voice suggested otherwise to Tumpane, a major league baseball umpire in town to work the series between the Pittsburgh Pirates and the Tampa Bay Rays.

So the 34-year-old Tumpane reached for the woman even as she urged him to let her go.

“It was just pure instinct,” Tumpane said. “You hear kind of stories of this all the time, different scenarios, people aiding and situation where I was lucky enough to be there to help and try to think of everything I could do, hanging on to her. At times she wanted to go the other way. I was like, ‘not on my watch, please.’ We were just hanging on.”

And saving a life. …

Go here for the rest of the story.

June 29, 2017

Reader Identifies Gun Study Error Washington Post Couldn’t (or Wouldn’t) Detect

One of the more annoying aspects of establishment press news coverage is how willing so many journalists are to accept obviously bogus statistics. One recent example was seen on June 20 at the Washington Post. At its Wonkblog, Christopher Ingraham (and presumably his editors) blindly accepted a statistic on children’s exposure to violence which anyone in touch with the real world should have recognized as obviously wrong, namely that 1 out of 24 children “witnessed a shooting” in the past year.

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Real News Beating Fake News: Drudge Is #2 (More Traffic Than NYT and WaPo Combined)

Filed under: Marvels,MSM Biz/Other Bias,MSM Biz/Other Ignorance — Tom @ 9:06 am

Yes, he’s “just” an aggregator, but Matt Drudge clearly has a better sense of what is and isn’t news than the sites he’s beating. He was rewarded with a level of traffic which in April was ahead of a Who’s Who’s of the establishment press, with only MSN.com ahead of him (although Yahoo’s combined sites are also collectively ahead of him):

DrudgeIsNumber2in0617

Top10newsWebsites0517

Thursday Off-Topic (Moderated) Open Thread (062917)

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: Tim Tebow hits a home run in his first day with Port St. Lucie

Filed under: Positivity — Tom @ 5:55 am

On the first pitch thrown to him during the second game of a doubleheader:

June 28, 2017

Not This Again: MSNBC’s Veshi Drags Out Long-Discredited Planned Parenthood Abortion Stat

On Tuesday, in a segment which could easily have been mistaken for parody, MSNBC’s Ali Veshi relayed Planned Parenthood’s long-discredited and tortured statistic that abortions constitute only 3 percent of its “services.” As he did this, Veshi absurdly disclaimed association with this and other fundamentally dishonest claims by the group, saying “I don’t have enough knowledge” to evaluate them, and that he’s “not advocating for Planned Parenthood.”

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Wednesday Off-Topic (Moderated) Open Thread (062817)

Filed under: Lucid Links — Tom @ 8:50 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: Local priest named fifth bishop of Allentown, Penn.

Filed under: Positivity — Tom @ 8:45 am

From Vatican City:

Jun 27, 2017 / 07:16 am

On Tuesday the Vatican announced Pope Francis’ pick of Mons. Alfred A. Schlert to be the next bishop of the Diocese of Allentown in Pennsylvania, himself born and raised in the diocese.

Bishop-elect Schlert, 55, fills the vacancy left when his predecessor, Bishop John Oliver Barres was appointed to the Diocese of Rockville Centre, New York at the end of January.

In a statement on the appointment June 27, Bishop Barres said that Mons. Schlert “has a blend of holiness, intelligence and pastoral experience that will serve the mission of the Catholic Church in the Diocese of Allentown in an extraordinary way.”

“He is primarily a loving pastor with an insightful and compassionate pastoral charity and a non-stop New Evangelization missionary spirit,” the statement continued.

“He is humble and down to earth and has this incredibly creative sense of humor that is charitable and puts everyone around him at ease. He is calm and steady but passionate about Father, Son and Holy Spirit and the Catholic Church’s mission of mercy in the world.”

Mons. Schlert, who was born and raised in the Diocese of Allentown, has been serving as Diocesan Administrator of Allentown since Bishop Barres’ move to New York.

It is the first time a priest of the diocese has been named its bishop. …

Go here for the rest of the story.

June 27, 2017

Planned Parenthood Patient: Doc Said They’d ‘Break the Baby’s Neck’ If Born Alive After an Abortion

Filed under: Life-Based News,Taxes & Government — Tom @ 9:17 pm

The people supposedly “on our side” who are okay with continuing to fund Planned Parenthood with federal dollars need to be made to see this video, and asked how they can possibly be willing to continue to fund such barbarity (HT Life News):

Even When Caught Red-Handed Admitting the Trump-Russia Narrative ‘Is Mostly Bullsh*t’ …

… reporters from CNN complain childishly that conservative news sites like Breitbart got to ask the White House Press Secretary questions on Tuesday, and they didn’t.

Breitbart’s “crime” was teeing up questions about something almost everyone is talking about, but which no one at CNN wants to talk about. Too bad, so sad.

But when one sees the actual questions from Breitbart’s Charlie Spiering, one finds that they were challenging and designed to put the Press Secretary on the defensive, and could easily have been asked by the same CNN reporters who are now whining (in bold):

Spiering: Recently, Breitbart News challenged the accuracy of the CNN story, and afterwards it was retracted, [and] deleted, and the editors responsible were fired, as well as — the network apologized for the story. One of the targets of the story accept[ed] the apology. The president went on Twitter this morning and repeated that CNN was “fake news.” Why isn’t their response good enough for the president?

… Spiering: Does the president actually expect us not to report on stories of a foreign country trying to influence the presidential election?

As to CNN, which is trying to shrug off O’Keefe’s video — bad idea, given that there is more to come, and O’Keefe’s past efforts indicate that matters will only get worse for the network — this Deep Purple blast from the past comes to mind:

O’Keefe Stings CNN: Producer Admits That Russia-Trump Narrative ‘Is Mostly Bullsh*t’

Early Tuesday morning, Project Veritas’s James O’Keefe posted an undercover video exposing CNN’s obsession with the Trump-Russia narrative as, in the words of one of its supervising producers, a nearly 15-year network veteran, “mostly bullsh*t right now,” with “no big giant proof.” Further, in a series of damning statements which has to be seen to be believed, that producer admits, among many other things, that the Russia obsession is driven by the desire for ratings, that network CEO Jeff Zucker recently demanded that its journalists return to concentrating on Russia shortly after Trump’s announced withdrawal from the 2015 Paris climate accords, and that “the President is probably right to say” that the network is “witch-hunting” him.

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Tuesday Off-Topic (Moderated) Open Thread (062717)

Filed under: Lucid Links — Tom @ 7:55 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