Via Paul Craig Roberts,
The question in the title is V.I. Lenin’s question. His answer was to create a revolutionary “vanguard” to spread revolutionary ideas among the workers, the economic class that Karl Marx had declared to be the class rising to the ascendency of political power. Finally, democracy, frustrated by upper class interests in its earlier manifestations, would become reality. The workers would rule.
Great news America - After soaring to the highest price in three years, wholesale prices for pork bellies, the cut used for making bacon, are heading for a 25% loss over two weeks.
As Bloomberg notes, increased demand had more than doubled prices since August, but now bellies are so expensive that the high costs are stemming demand, according to David Kruse, president of Commstock Investments Inc.
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.