Thursday, November 3, 2016

HEY, HEY, CUBBIES! the late, great Jack Brickhouse would have put it/  After a 108 year hiatus, the Chicago Cubs won the World Series.  Prayers answers, dreams fulfilled and who the hell cares about the most important election in the past 108 years.

But, life tho suspended for a moment in time goes on.  Tomorrow is the jobs report which will have less meaning than people thought simply because no one voting cares about anything else by the trials of Hilliary (real and perhaps future ones) and whether The Donald can pull this one out merely by keeping his mouth shut as revelations both from Wiki Leaks and leaks from the FBI point towards a level of corruption and duplicity withing the center of government that in many ways compairs unfavorably to the every day goings-on in Nigeria.  Can one say Third World Republic?  What we are learning is unspeakable if true.

Meantime, in Janet's World, things are still on hold but there are signs that the rate rise is coming in December.  That and the heightened possibility that Trump could actually win this thing or the specter of a crippled Hilliary battling scads of investigations for the next four years sent the DOW down for the seventh day on the trot.  More importantly, however, is the general view as expressed here over the past few days that interest rates are going up world-wide as central banks pull back from the money-creating operations of the past few years.  The Bank of Japan is the latest to essentially declare that mums the word when it comes to continued softening of monetary policy.

That all of this is occurring in the face of not-so-great economic performance as witnessed by third quarter profit reports and economic performance figures world wide is unsettling.  Job numbers, no matter what tomorrow brings have been holding up but besides the bedpan and burger gains a closer examination reveals that there is a lot of part-time work included in the numbers and whilst the government points to wage gains and family wealth performance, the data backing up these "wins" is clearly suspect.  Yet we are OK if not great Over Here.  Over There, I see further signs of economic and political malaise extending into 2017.  If Trump were to win, the effect of the Union could very well be calamitous for the internationalists and Brussels.  Even a close loss will have an effect.  The politics of Europe are, in my mind, the single greatest risk to be faced in the near future...and that's even without BREXIT which took a strange turn yesterday when the British High Court ruled that BREXIT could not go forward without parliamentary approval.  Having bypassed the people's elected representatives and gone directly to the constituency by referendum, it seems a bit odd to throw the whole thing back to the folks from whom it was taken away in the first place.  I mean, like, DUDE, that only happens in California, but then again it might make perfect sense once I read the opinion.

Anyway, we'll keep an eye on this and the number when it comes out tomorrow.  There's a parade in Chicago tomorrow and half the town will be knee-walking tonight so I hope they're still trading on the exchange at 8:30 a.m. EDT.  But the Cubbies did it and good on 'em and their ever-so-patient fans.  Can we all restore normalcy at this stage and go back to rooting for the Yankees?

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