The Picture Edition -- Nothing About The Bakken -- July 11, 2022

Updates

Later, 1:01 p.m. CT: right now, the highest "risk" is 2:30 p.m. to 4:00 p.m. CT.

Original Post

ERCOT: this could be the day of rolling brownouts, blackouts, political hysteria here in Texas. It will be close. It all depends on the wind. Right now, it appears the worst will be 3:00 p.m. local time to 4:30 p.m. local time. That is a dynamic link and will change with the wind. 

Bjorn Lomborg, who I don't think is even from Texas, has it all figured out. The very folks who are blaming the Texas governor for this problem are the very same folks who want more wind turbines installed. 

Can you imagine running an airline, or a railroad, much less an entire state or country that depended on the whim of the wind? Holy mackerel. These folks who want more wind turbines are nuts. And, of course, solar is even worse.

Anyway, I have to move on. In the big scheme of things, no one really cares about these things, and nothing will change anyway.

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Other

Sophia:

Two weeks ago, Sophia completed a two-week sailing course on Lake Grapevine, TX. This past week she was on Dauphin Island, Alabama ("Florida"). 

Today is her first day at day camp at the Ranch of the Lonesome Dove.

Her birthday earlier this month:

Meanwhile, blogging today will be really inefficient. First, the rolling brownouts. LOL. But now, I'm poolside at 9:00 a.m. It's already incredibly humid and hot. The past three days felt pretty dry so it did not seem so hot, but it certainly seems humid today. Now like the humidity in Iowa, Ohio, New Jersey (or Houston, TX) that is so much worse, but it's noticeable all the same.

Jobs: a reader sent me a link to ZeroHedge regarding the jobs report that came out last week. 

There are actually two links. The first link is the "updated" version: https://www.zerohedge.com/markets/something-snaps-us-labor-market-full-part-time-workers-plunge-multiple-jobholders-soar. 

Inside that article, at the very top is another link: https://www.zerohedge.com/markets/wall-street-stunned-june-payrolls-unexpectedly-smash-expectations.

I might comment on these two articles later, but maybe not. As noted, today is going to be very, very inefficient.

There were two things that popped out at me, first this, at the first link, screenshot -- Tyler notes that more than 7 billion Americans now hold multiple jobs. I assume this is where President Biden gets his numbers. From the internet.

The second thing that popped out at me, also at the first link, again, a screenshot:

The first thing I would want to know is the definition of a full-time job. I know our daughter would argue that she has two full-time jobs, the second being raising a family of three daughters. For which she does not receive any direct monetary payment. In fact, the government takes money away from her through taxes on her first job. And, it should be noted, there are folks out there who actually get paid by the government for doing the same thing, if they qualify, called the earned income tax credit.

Important: 

• Comparing employment from the BLS household and payroll surveys. From the BLS.
  

The gap grows between investors and savers/non-savers, link here.

Take a look at this graphic. See if you notice something very, very interesting. I'll post that later, I just want to see how observant folks are.

I'll post a note about the graphic above later, and when I do, I will link it back to this.