Weekend News roundup

First, let's look at UAE news. It was reported in the Wall Street Journal that the UAE was secretly attacking Iran independent of the US. The next day it was reported that KSA was also doing this. I read it and thought, "Is this news?" So I asked several friends - who I know don't read the WSJ - if they had heard of the UAE striking idependently.  3 of 6 who responded said yes. I guess what I'm trying to say is that I don't think this was a scoop. 

Cages to protect against drone attacks is smart.

Cerebras IPO popped. This UAE backed company is not one I'd touch with a ten foot pole. That said, I heard a very bullish case for it on NPR's Marketplace. 

*****

Because America's economy is so big we are not dependent on tourism.

Yet another reason why the Iran War is hurting the rest of the world more than it is us. 

*****

Stock markets down, oil markets up on Friday. Why? 

There is no spinning how bad Trump's disastrous China summit was and the CPI and PPI numbers make it clear we are genuinely fucked. CNBC is positive... which is understandable.

*****

The way you avoid getting criticized for doing something you shouldn't be doing as Secretary of Transportation is to have it sponsored by corporations. How wonderful! Meanwhile FBI Director Kash Patel took a snorkeling trip around the USS Arizona in Hawaii.

The corruption/grift of the Trump administration has no floor.

*****

Someday Jerome Powell will receive the Presidential Medal of Freedom.

*******

Good news from a guy who should have been Iowa's congressman.

******

Manipulating Glassdoor:

I know the guy who wrote this. 

******

Weighing myself when I first wake up is best... after 5 trips to the bathroom I'm guaranteed to weigh less than any other time of the day. On the serious front, I'm happy I'm down 7 lbs. (3 kilos) since the start of the war. Eating better and very long Cujo walks have paid off.

*****

David Letterman's awesome final words on Stephen Colbert's show.

The Beans, Beef, and Boeing Summit

 

Trump went to China with an agenda of making progress of Beans, Beef and Boeing. So far? Boeing is the winner he's gonna declare... in reality it's was agreed in advance and Xi allowed CheetoDick to claim a win.

PresidentBoneSpurs engaged in a long, awkward handshake with Xi.

Trump, like Covid, is an accelerant. He has accelerated our decline as a global superpower. 

Kevin Warsh

 

The Producer Price Index says the inflation we are experiencing now isn't going to end anytime soon. 

Meet this handsome devil:

Jean-Claud Trichet served as chair of the European Central Bank from 2003 - 2011. During the height of the financial crisis he called it exactly wrong. He wanted raise interest rates in 2009. The world is going to shit and this guy wanted raise interest rates because of the boogey man inflation.

CNBC's Rick Santelli is the spiritual godfather of the Tea Party. He was calling for higher interest rates during the height of the great recession.

Kevin Warsh - The most powerful unelected person in the United States. Educated at Scamford. Fed governor from 2006 - 2011. In September 2009 he called for higher interest rates. He made exactly the wrong call because he is - like Trichet and Santelli - what is known as an inflation hawk. 

But he was exactly what Trump was looking for... a sycophant. When asked if Trump won in 2020 the "independent" Fed Chair in waiting wouldn't answer. 

So with inflation going up. What will Kevin do? Nobody knows... not even Kevin. Fortunately, grown up J. Powell remains on the board. In the end more of the governors will be looking to him for guidance than their new chair.

In Jerome Powell I trust. 

Barney Frank, author of Dodd-Frank which reinstated most of Glass-Steagal. America's Banking system owes him a debt of gratitude. 

Save the rich or tax them?

Two updates from yesterday:

1. It appears it was closer to 600,000 orders for Trump phone.

2. Senate Leader Thune killed the Federal Gas Tax Relief because it would destroy the highway trust fund. Worth noting, the last increase in this tax was 1993. Then Leader Bob Dole opposed it. 

Sandy with me in Amsterdam as we were enjoying Profiteroles as we were meeting our bestie Beth.

Mohammed, Travis, me, and Ann at Snoopy Rock in Fujairah.

Mini Coe reunion: Thomas Valley, Travis Krug, Sandy Busgen Burke, Kelly Fitzgerald, Steve Kranz at an impromptu Coe Reunion in Minneapolis.

Luqman and me before go carting in Al Ain.

Luqman and Adnan with me before I flew back to Iowa to caucus for Mayor Pete in 2020.

Before Trump departed to China he said he didn't need help from Xi on Iran. Fortunately for Trump it is help he is going to get but Xi will certainly extract a huge price for it.

More Airlines suspending flights to Dubai. Why? risk they can't land and much higher costs because of the longer route.

Musk's trial is ending with a whimper but it's ramifications are huge: 

Lessons:

Everything you ask AI is discoverable.

(The Satya Nadella clause)

Musk is every bit as ego-centric and maniacal as we thought.

Being upset about missing a good investment is a really dumb reason to sue.

SpaceX size.

Visual Capitalist does great graphics.

CPI confirmed the news we had last week: Inflation has begun to rise and is now outpacing wage gains. So the feeling you are falling behind is now backed up by data.

Wealth of top 1% vs. 20-80% (Middle class). 

Mandami property tax DOA. The rise for the middle class was never going to happen... but it's unfortunate the tax on the second houses over $5 million did not go through. A 10% tax on these houses serves two purposes: It raises badly needed revenue. And, for those who do sell, it frees up housing stock.

Poker lesson

Strike Force Five on Stephen Colbert. Here is the extended interview.

The Wall Street Journal reports that the UAE on it's own attacked Iran took out an oil refinery on Lavan Island.

Trump phone: 500,000 pre-orders. No phone and no sign of a phone.

Trump's delusional post on Mother's Day.

Bad news for Trump, not awesome news for Democrats.

Gas Tax holiday.is stupid. Less than half of it goes to consumers. 

Iran holds the Strait... and Straights are a 1 in 255 hand in 5 card stud. It is 1 in 25 in Texas Hold 'em... in other words, it's a pretty good hand.

Joyce's diary

May 10 1987

She notes it is Carol Markley's birthday and the temps for the day were 88 high, 63 low,

Steve went to work 12-5. Merlon worked in the patio this morning and cleaned up the bushes and trees. He went to Vinton to get seeds while I cut spinach from the garden. I got two white garbage bags full!! (side note from Steve here: Mom hated spinach) Marty and Carol came on a motorcycle with a xxxxxx. Mim gave me white xxxxxx and Steve a pool bar - cute, Kat called and said pictures of Jon on the way. Merlon got everything planted today & then he started to water. It is so dry. 

I fixed steak, spinach, and french fries for supper. Steve worked on his invitations to the kids. Mim didn't get home until 9:15 tonight. Aaron OK, no chicken pox. 

 

Sunday Funnies

I thought I was the only one unable to access my bank account because I live abroad. Apparently Pope Leo has the same problem.

Not my sense of humor but Mark Hamill gets a pass from  me.\

Market manipulation? Umm, yes. Bet the temp at CDG and make money!

Given the price of gas, Kitt is now a Chevy Vega.

How it started....

How it's going....

Tim Cook loves me.

Trust me Bro

Happy birthday David Attenborough!

 

Happy retirement Eric Rodgers! My mentor despised you and a good deceased former athlete of yours thought you were outrageously overrated. 

Andrew almost attacked? Like the woman he's with here? Her name is Virginia Gruifree. She committed suicide thanks to the treatment she received from this POS while Ghislane Maxwell looked on... like she is here.

Eric, Rachel, and me in Iowa.

Eric at Paddy O'Rourkes in Cedar Rapids.

Ka$h Patel Bourbon... no ethical problems there...

Three members of the National Championship Ohio State Football Team have spoken out because the U is desperately trying to sweep this under the rug.

Who is worried?

Sorry #GymJimJordan....

HBO made the entire documentary available on Youtube.

No shit Sherlock.

No Shit Sherlock... Trump's TACO's no longer work.

How best to avoid Iowa's #1 rated cancer award? Create you're own filtration.

My parents gardened more than anyone you've ever met. Fortunately, they never participated in Naked Gardening day.

Best gay guy to follow on X is Tim Miller.

Cujo's great day was interrupted by me being fearful this Sudanese boy would drop his younger brother while trying to manage Cujo's leash. No children were harmed in the making of this picture. Cujo, however, stepped on something so bad I had to carry him for the ten minute walk home. His recovery is going well.

This is the shit he lives for. 

Sadly, Itrust Iran more than my own government now.