I'll come back to these later, perhaps. It's going to be a busy Sunday for me with family commitments.
These are the four stories I'm most interested in right now and at least two of the stories are gaining traction on my twitter feed.
1. Whether the Fed wants to be responsible for pushing the US into recession, whether it deserves that blame or not? Will the Fed back off on all that scary language about raising rates as much as it takes?
2. Whether inflation has peaked, and long with it, the price of gasoline? Even the most bullish are now concerned that the increase in gasoline demand is not developing as fast as predicted. We'll know more after Memorial Day data is released. On a side note, everyone knows, inflation-adjusted, gasoline is less expensive now than it was in 2008 and of all the things Americans buy, gasoline is still a relative bargain.
3. Whether the price of oil will ever reflect the crack spread? With regard to "oil" and "gasoline" prices, it's now all about refining. Everybody seems to have noticed that in the past week.
4. Whether the supply chain shortage is over? The supply chain shortages are now a thing of the past except for EVs, ICEs, semiconductor chips, and baby formula. Two weeks ago we were shopping in Belk's, a very, very nice upscale discount store: think Target without the groceries and clothing generally 50% off at Belks, shoes off 20% - 40%, and everything else similarly discounted, perhaps not as much.
Two weeks ago, my wife actually left Belks soon after entering, deciding not to shop because the store was overflowing with merchandise.
She couldn't deal with that amount of merchandise.
I went back with her and even I was impressed (and bought a few things, at 55% discount, including a new Hawaiian shirt). I mentioned this to the cashier. She said she had worked many years at Belk's and had never seen her store so well stocked. She said they had 60% more inventory on the floor for this time of year than is normal.
5. Speaking of baby formula. The US is the only western nation with a baby formula shortage.
Exhibit A: Mexican store shelves are completely stocked with baby formula; Americans see it in Tijuana pharmacies. But apparently it's illegal to bring baby formula into the US from Mexico. Though the US government can fly it in from the Netherlands. Later: folks are allowed to bring formula in to the US from Mexico for personal use only. Formula must be declared at the and US Customs officials will determine -- on the spot -- at their discretion -- if everything is okay. Thank you to a reader for sending me a link to a story clarifying that point. Baby formula must be incredibly lucrative for the major suppliers of US baby formula to have that much control over Congress with regard to baby formula.
6. Back to the supply chain shortage story. Based on snippets from my twitter feed, China is opening back up. First, Shanghai is getting back to normal; and, second, it appears that Beijing is not going into as severe a lock down as anticipated and is, it appears, also getting back to normal. If these stories are accurate ...
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Meanwhile, Over At Target
On the grocery side of Target, locally they are doing much, much better, but there are spot shortages. It would be comparing apples with oranges, to compare Belks (no groceries) with Target groceries, but compared to the regional grocery store we shop at, it certainly appears Target had its own specific logistics problems.
Later: today, Sunday, May 29, 2022 -- now that I'm working out three times / day -- three one-hour work-outs -- one-hour treadmill; one-hour bike ride; and, one-hour swimming -- I'm washing clothes much more often. I went to Target to pick up Hanes, Fruit of the Loom, or George underwear. Target was completely sold out, or nearly if not completely. I got on my bike and rode to Walmart. Their shelves were literally over flowing with Hanes and George; and, enough Fruit of the Loom.
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Speaking Of Logistics
Yesterday morning I ordered a book from Amazon after reading the review about 6:30 a.m. in The WSJ.
Amazon delivered the book at 6:30 p.m. last night. Their window of delivery had been projected between 5:00 p.m. and 10:00 p.m.
Oh, by the way, all that talk about high fuel costs for Amazon. LOL. One doesn't think the USPS, UPS, and Fed Ex don't have the same problems?
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The CDC Is Shut Down
Over The Three-Day Weekend
I track the CDC Covid-vaccine daily report, religiously, "never" missing a day.
The Friday report was posted, but the Saturday report was not, and my hunch is that neither the Sunday (today) or Monday (tomorrow) report will be published either. The Tuesday report will likely be reported late and I will have to "interpolate" the data for the three day weekend.
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Meanwhile, Over At Fox News
Primaries: apparently Trump got trounced in Georgia and may lose in Pennsylvania. Had the three elections gone the other way, the Georgia story would have been a headline story for Fox News but after the very, very embarrassing results, the story is (relatively) buried. One can easily find it but it's not prominent.
Memorial Day, again from Fox News, two different stories.
Embattled liberal DA tweeted the importance of "remembering" those who served. For Fox News this is a huge story and has been running the story for a couple of days now.
Lee Greenwood, a stud for both Fox News and Trump tweeted the importance of "remembering" those who served and buried the story. Again, it's easily found but unfortunately it couldn't be the headline story the media giant had probably hoped.
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The Book Page
I'm finishing one book on the bohemians, 1910 - 1960, Greenwich Village, New York, and Provincetown, Cape Cod, Massachusetts, and will begin a similar book, I think, on Hollywood in the 1960s. Can hardly wait.
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