Author Archive: Stephen Green

JOBS: Payrolls Soar By 339K, Blowing Away Highest Estimate, Even As People Employed Tumble By 310K Sending Unemployment Rate Higher.

While the Establishment survey was a blowout beat and the strongest print since January, the Household survey unexpectedly tumbled by the most since April 22 as it plunged by 310K jobs.

One possible reason for the massive divergence: the birth death model “added” 231K jobs in March. These are not actual jobs, but merely an assumption by the BLS as to how many new businesses were created and hired workers based on statistical assumptions. Again, these are not actual jobs. [Emphasis added]

The less volatile (and manipulated) participation rate came in as expected at 62.6%, unchanged from last month.

And another paradox: despite the blowout payrolls number, in May both full-time and part-time workers dropped, by 220K and 23K, respectively.

Never believe the headline numbers.

Plus this warning from CNBC:

KRUISER’S MORNING BRIEFING: No Pity for Sanctuary Cities That Are Forced to Put Up or Shut Up. “We have discussed many times the fact that, whenever one awful Democrat is removed from power, a worse one will step in and fill the void. The current prime example of that is the city of Chicago, which gave commie mayor Lori Lightfoot the boot after one term, only to replace her with Brandon Johnson, a teachers’ union puppet.”

WELL, YES: Moscow does not have a ‘veto against NATO enlargement,’ NATO’s Stoltenberg says.

NATO Secretary-General Jens Stoltenberg said Thursday that all NATO allies agree that Russia cannot prevent Ukraine’s eventual membership in the military alliance.

Speaking to reporters ahead of an informal meeting of NATO foreign ministers in Oslo, Norway, Stoltenberg said all allies agreed that “NATO’s door is open for new members.”

“All allies also agree that Ukraine will become a member of the alliance, and all allies agree that it is for the NATO allies and Ukraine to decide when Ukraine becomes a member,” he said.

“It is not for Moscow to have a veto against NATO enlargement, but most importantly, all allies agree that the most urgent and important task now is to ensure that Ukraine prevails as a sovereign, independent nation. President [Vladimir] Putin and Russia must not win this war.”

There are two issues here, one glossed over by Stoltenberg.

The first is that a defensive alliance that allows rivals veto power over its membership isn’t much of a defensive alliance. The other — glossed over — is whether or not it is particularly wise to invite in a particular member.

GROOMING, STRAIGHT UP: Elementary sex ed promoted puberty blockers, pubic hair art. “Fourth and fifth graders at Lincoln Elementary in the Olympia School District received sex education lessons on May 9. Parents said the school told them that the lessons were district-approved. But students were given unapproved lesson plans. Materials presented by Planned Parenthood included drawings of pubic hair shaped like an animal, and students were told they could pick from a number of contrived genders to identify as. Some of the materials promoted medication to block puberty.”

ERIC BERGER’S ROCKET REPORT: Europe has a rocket problem.

In a remarkably candid and accurate assessment, European Space Agency Director General Josef Aschbacher writes about how Europe used to dominate the commercial launch market. But no longer: “SpaceX has undeniably changed the launcher market paradigm as we know it,” Aschbacher wrote. “With the dependable reliability of Falcon 9 and the captivating prospects of Starship, SpaceX continues to totally redefine the world’s access to space, pushing the boundaries of possibility as they go along. Once successful, Starship will carry payloads of around 100 tonnes into low-Earth orbit while reducing the launch cost by a factor of 10. Falcon 9 aims to launch 100 times in 2023.”

Aschbacher then says Europe has fallen behind … “Europe, on the other hand, finds itself today in an acute launcher crisis with a (albeit temporary) gap in its own access to space and no real launcher vision beyond 2030,” Aschbacher wrote. “My hope, quite possibly my biggest aspiration for Europe, is that this temporary lack of access to space, combined with this moment of novel opportunities in exploration and a rapidly evolving space economy, will be the impetus for a deep reflection of Europe’s modus operandi, leading to a transformation of our overall space ecosystem.” My hope is that Aschbacher gets his way.

As soon as SpaceX showed that reusable rockets were possible, cheaper, and still profitable, every other rocket company and national space program should have thrown out their existing roadmaps and started fresh. But none of the established players did.

HANS A. VON SPAKOVSKY AND J. CHRISTIAN ADAMS: Montana Attorney General Fights to Keep Revolutionary Extremists Out of Legal Profession. “The noxious behavior exhibited at law schools calls into question the character and fitness of these students — and sometimes violent progressive lawyers — to practice law. Austin Knudsen, the Attorney General of Montana, thinks character and fitness are still valid requirements. He is correct.”

There are signs, at least in a few red states, of a long countermarch through the institutions.

NOTHING EVER IS: Progressive ‘Little Mermaid’ Not Woke Enough.

The mega studio turned the saga’s white heroine into a black one, impressively portrayed by actress Halle Bailey. Some of the original film’s lyrics got the boot, presumably because they didn’t align perfectly with modern mores.

And, in a critical sequence not to be spoiled here, Ariel rides to the rescue instead of her male beau.

Those measures match Disney’s current ethos, a brand shift that has had punishing economic consequences. And yet, once again, the reaction is similar to past efforts.

It’s not woke enough.

That cry came from The New York Times’ review of the film. Critic Wesley Morris’ starts his review on a bizarre note, bemoaning the lack of “kink” in a family-friendly tale.

Cry more, groomer.

Much more good stuff from Christian Toto at the link.

LAWRENCE PERSON: No. And No.

Former Vice President Mike Pence is evidently getting into the 2024 Presidential race next week.

So evidently is former New Jersey Chris Christie.

No. And no.

Both men had their time in the sun, and neither’s time extends to 2024. Pence’s was 2016, when he provided a dull, predictable counterweight to Trump’s wild ride. Christie’s was 2009-2010, when his unexpected election as governor of deep blue New Jersey gave him a high profile platform to criticize the Obama Administration’s many unpopular policy failures.

Neither has a prayer of beating Ron DeSantis or Donald Trump for the Republican nomination in 2024.

Exactly. It’ll come down to Trump or DeSantis and I’ll be happy to vote for either one. Everyone else is an unnecessary distraction who’s either really running for the veep spot, or is looking to cash in on the book tour/speaking circuit.

THIS STORY WOULD BE YUGE IF HIS LAST NAME WASN’T BIDEN: Huge Trove of Photos from Hunter Biden’s Laptop Released. “It’s taken us a couple of months to, one, go through the photos, about 10,000 of them, and redact the genitalia on the photos.”

KURT SCHLICHTER WANTS TO KNOW: What’s The Plan, Ronna?

I was against re-upping Ronna McDaniel last January, and I worked for her opponent. We argued that if you lose five times in a row you should not get a sixth chance to fail. But we lost that argument. Ronna, backed behind the scenes by Donald Trump (which I personally observed at the GOP committee convention), won. And she won fair and square and earned my loyalty. But it has been four months and I am not seeing the change that she promised and that is sorely needed. Where’s the audit? Who got fired for not performing? And the biggest question…what’s the game plan for 2024? Maybe it’s a communications issue. Maybe there is a plan. But have you heard about the plan, because I haven’t. And I’m paying attention. Failing to plan for victory is planning for defeat.

When I see Ronna McDaniel on TV she’s talking about policy and offering cliches. I agree with them, but policy is not her job. Maybe it’s my Army background, but I want to hear her campaign plan, not that she thinks taxes are too high or that Target shouldn’t cater to perverts. We get that, but the job of GOP Chair is administrative and logistical. Ronna’s job is to make sure we have the infrastructure prepared to wage a successful 2024 campaign both in the country as a whole and in each of the states. She’s not a policy person; she’s an administrator and logistician, or should be.

So, what’s the plan, Ronna?

Much more at the link.

PAULA BOLYARD: Republicans React to House Passing Debt Deal in Late-Night Vote. “The Congressional Budget Office on Tuesday said the legislation would result in $1.5 trillion in savings over a decade.”

Congress will spend more than $70 trillion over the next ten years so these “savings” — a tiny reduction in the rate of growth, really — are basically a rounding error.

BRING IT ON: How JetZero aims to be the ‘SpaceX of aviation.’

It takes a moment to adjust. After a lifetime of flying in metal tubes, the reimagined cabin of a JetZero blended wing body jetliner is a revelation. Multiple aisles lined with wider seats and assigned overhead storage fans out in an open triangular floor plan. A back corridor for bathrooms keeps queues away from seats, while rear engines enable a quieter space. It’s an antidote to the loud claustrophobic hellscape that is commercial jetliner travel, especially for those of us in steerage.

This concept display is a compelling glimpse into an aviation future that JetZero co-founders—CEO Tom O’Leary and CTO Mark Page—are hoping to steadily advance towards reality over the next decade. If successful, their blended wing body aircraft could be the first major redesign of a commercial passenger jetliner to enter production.

Yes, please.

KRUISER’S MORNING BRIEFING: House Kicks $34 Trillion Debt Can Down the Road Under Cover of Night. “I love it when Congress isn’t working because that means they aren’t spending any extra money at the moment. Last night, the House of Representatives worked late, which is never a good sign. That only happens when they’re doing something that will give us all hangovers then next morning whether we drank anything or not.”

NIFTY: The U.S. Air Force and MIT Successfully Fly Aircraft Using ‘Jam-Proof’ AI-Enhanced Magnetic Navigation. “The cutting-edge technology, which uses variations in the Earth’s magnetic field to navigate, is difficult to jam or spoof, making it a necessary tool for the Air Force. The success of MagNav is potentially the first critical step toward implementing the system across a number of military and civilian platforms, including aircraft, submarines, drones, and even hypersonic glide vehicles.”

FALLOUT: She had a dream job. Now, she’s part of a massive brain drain hammering Russia.

A few years ago, she landed a dream job as an adviser at Russia’s central bank in Moscow.

Prokopenko loved Moscow. The city was vibrant and beautiful — full of restaurants, music and culture. But by far, her favorite place was Meshchersky Park, a giant forest in the city, where Prokopenko would go running.

“It was my favorite place. I always felt really great in there,” she recalls.

But Prokopenko’s Meshchersky runs are a thing of the past. She left Moscow, as well as her job at the central bank, shortly after Russia’s invasion of Ukraine.

Prokopenko now works at the German Council on Foreign Relations. Her focus is still the Russian economy — she publishes new analyses and data every week.

She says she’s glad to be there, but it isn’t home.

“I’m missing Moscow a lot,” she says. “I miss Moscow every day.”

Prokopenko is part of a massive wave of young Russians who have fled their country. Though hard numbers are hard to come by, hundreds of thousands are estimated to have left Russia since its invasion of Ukraine.

That has contributed to a reduction in Russia’s labor force.

According to one estimate, more than 1.3 million Russians under age 35 left the Russian workforce just last year alone, though that number could include other factors such as workers taking jobs not officially captured in statistics.

Russian demographics were terrible even before Putin’s stupid war drove people out of the country, not to mention tens of thousands of combat deaths.