Via MN Gordon of EconomicPrism.com,
“We have assembled a best-in-class team of policy advisors to drive President Trump’s bold plan for job creation and economic growth.” Gary Cohn, Chief Economic Advisor to President Trump
Promises of Slop
Experian recently released their Q4 2016 Automotive Finance Market update which includes a lot of statistics that seem to confirm our frequently documented concerns about the sustainability of the current level of annual auto sales (see here, here and here for our recent notes on the topic).
First, there is the staggering growth of auto loans outstanding. It should be readily apparent to almost anyone that a 21% expansion in credit issuance over the course of just two years likely implies there has been at least some degradation in underwriting standards.
As a result of a study, which found that weapons routinely make it past airport security, the TSA is introducing “more rigorous” and “comprehensive” physical inspections at airports around the country, according to Bloomberg. The security agency, which until now had the option of using five different types of physical pat-downs in the screening line, is eliminating the "options" and replacing them with a single, universal method which would involve heavier groping.
Via Mike Krieger of Liberty Blitzkrieg blog,
Via Howard Kunstler of Kunstler.com,
President Trump garnered props from many quarters for not acting like a crazy person when he delivered his State of the Union address, but one part of the proceedings sure made my skin crawl: the two minutes of applause for Carryn Owens, widow of William “Ryan” Owens, the Navy SEAL recently killed in action in Yemen.