Karl Denninger posted this one yesterday, discussing the Richmond fed survey. Turns out that business in that area is coughing up a bucket of dicks, and if that's so on the eastern seaboard it's not likely to be much different in the rest of the country. Especially places like the Peoples' Demokratik Republik of Illinoistan (PDRI).
In this post Denninger goes on to say that metallurgical coal is down 50% on weakening demand. "Metallurgical coal" is the stuff used to make coke, which is used to turn iron ore into steel. If metal smelting is down so far that demand for its primary fuel is off enough to cut its price 50%, that is emphatically not a good sign.
If your job is to raise the cattle that are made into hamburgers, and people stop buying hamburgers, you end up having to reduce your prices because demand for your cattle has fallen. Either you end up with cattle you can't sell, or you make less money per steer. Either way, it's not good.
If your job is to make hamburgers and people stop buying hamburgers, how does that affect you? Do you keep working 40+ hours a week? Do you get laid off?
This is the problem with such a drop in the price of metallurgical coal: it's not a product used by consumers, but it's a vital ingredient in just about everything bought by consumers. It's like the decline in aluminum prices; you can probably put your hands on 10-20 things that have aluminum in them without even getting out of your chair because the stuff is so ubiquitous.
Refined metals are vital to the economic machinery of the world, and they're a commodity; when the market prices of those commodities drop, and stay down, it's not a sign that the economy is improving, or that it will improve in the near future.
Related: "Unexpected" drop in existing home sales in June. Ohh, those whacky economists! They were expecting things to go right on "improving" when the recession never actually ended.
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The Rolling Stones and Rhianna are surprised to learn they are boycotting Florida. The boycott is over Florida's "stand your ground" law (SYGL).
See, Florida has this evil, nazi law which lets you shoot people who are attacking you. You don't have to try to run away from them; you can just shoot them. So when George Zimmerman was pinned on the sidewalk by Trayvon Martin, and Martin was sitting on him and beating him, George Zimmerman was supposed to just run away rather than defend himself, and that's why the SYGL is evil and raciss.
This evil and racist law must be repealed, and then Florida can join the rest of the union in celebrati--huh?
I have just been informed that some thirty-odd states also have SYGL. This issue may be a bit more complicated than I thought.
Okay, sarcasm off--
I don't remember where I saw it, and cannot find it now--I think I read it on the Nook HD+--that Stevie Wonder is saying he won't play in Florida because of its SYGL. Problem is, if he is going to be consistent and not hypocritical he will also boycott the other thirty-odd states which have SYGL.
Oddly enough, that includes the PDRI. Obama voted for that law back when he was a state senator.
...but being a liberal, things like consistency and hypocrisy are unimportant to Stevie Wonder. The most important thing is how he feels.
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ChromeCast is a $35 dongle that plugs into an HDMI port on the TV, and lets you stream video to your television from anything with a WiFi adaptor.
So, for example, I could (theoretically) stream video to the blab slab from my Nook. Mrs. Fungus could stream video from her iPad...and we wouldn't even need more than one of these things.
She only just bought an HDMI cable for her iPad, too.
This requires an app on the device, meaning this will not fix my problem with getting El-Hazard hooked up to the slab as no one makes "apps" for Windows. *sigh* (But this may change. We'll see.)
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It's now global cooling again! At least, this time, the scientists (the actual, real ones, not the climatologists) are saying, "Well, solar variability may actually turn out to be the primary driver of Earth's climate" which is what some of us have been saying all along.
Meanwhile, Borepatch has yet another post about climatologists changing weather records to "prove" global warming is real, man-made, and happening now.
Borepatch says, emphasis his:
I don't know of any scientific field where it is not just considered acceptable, but considered normal to change the data after it has been recorded. This is perhaps the strongest argument against paying any attention to what climate scientists say.If you have to adjuster and fiddleate the data to prove your point, there is probably something wrong with it.
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The mind continues to churn: I've got a couple of story ideas, things I want to add to the anthology. I haven't had time even to look at the text files, but little by little....
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Mrs. Fungus wanted ribs for dinner. As it was already 9 PM when this determination was made, we realized that we couldn't go out for them, and anyway I pointed out that it would actually be cheaper if we just went and got the ingredients, so we hit Jewel.
F-ing ribs cost a lot. They were buy-one-get-one but one rack was f-ing twenty dollars. This is for something that is half bone! WTF.
...got home and started cooking. I patted 'em dry and hit 'em with the cajun rub, then tossed 'em into a 300 degree oven. It took almost two hours to cook them; I basted them with Open Pit three times. About ten minutes before they were done I sauteed a panful of peirogis to have with them.
They tasted like they came from a restaurant. I mean, they were tender, juicy, flavorful, delicious, and I do not believe I have ever had better ribs. Dang.
I remember how my parents used to make ribs, and cannot believe they never thought of covering them with foil. Damn.
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Then again, I had to be told that, too. I had a slight advantage; this is 2013 and I have the Internet!
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The weather turned blissfully cool yesterday. By evening I was able to shut the AC off and open up the house; it was actually chilly last night. Today is a very, ridiculously pleasant summer day.
Be nice if it stayed like this....