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Think Progress reports the White House on Sunday issued a statement from President Obama saying he is “deeply disappointed” in the decision of Ugandan president Yoweri Museveni to sign a recently passed bill leveling harsh penalties on Ugandan’s LGBT community.

“As a country and a people, the United States has consistently stood for the protection of fundamental freedoms and universal human rights,” Obama said. “We believe that people everywhere should be treated equally, with dignity and respect, and that they should have the opportunity to reach their fullest potential, no matter who they are or whom they love.”

“That is why I am so deeply disappointed that Uganda will shortly enact legislation that would criminalize homosexuality,” the statement continues. “The Anti-Homosexuality Bill in Uganda, once law, will be more than an affront and a danger to the gay community in Uganda. It will be a step backward for all Ugandans and reflect poorly on Uganda’s commitment to protecting the human rights of its people. It also will mark a serious setback for all those around the world who share a commitment to freedom, justice and equal rights.”

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Gateway Pundit reports Chevy SS Pace Car Catches Fire in Daytona at Sprint Unlimited – 2014 NASCAR Sprint Cup–

Three cheers for Government Motors!
Via American Survival Guide:

The following chart shows the US trade deficit with China divided by the price of crude oil (annualized billions of barrels).


Click to enlarge.

It shows the amount of oil China could buy if they were to use their entire trade surplus with us to do so. That's assuming the price of oil would not be driven even higher in response to increased purchases of course, which is no doubt a bad assumption.

The next chart plots the natural log so that constant exponential growth can be seen as a straight line.


Click to enlarge.

China "sent" us ever increasing amounts of stuff that we want, yet we do not seem to be returning the favor by sending them ever increasing amounts of the stuff that they want (barrels of oil). Note that I used "sent" instead of "sends." The next chart explains why. It shows the annual growth rate of imports from China.


Click to enlarge.

As seen in the chart, the nominal growth rate is just about dead now. The growth rate in the middle of the channel is roughly 0%, which oddly enough is what the Fed feels short-term interest rates should be over an "extended period."

ZIRP-a-Dee-Doo-Dah


For what it is worth, I am not even remotely bullish on China (nor have I been since starting this blog in 2007). I also don't believe that I will ever feel the need to bribe a border guard to let me on the last plane to China. You know, as a desperate attempt to protect my future standard of living and freedoms (Patriot Act notwithstanding). Sigh.

This is not investment advice.

Source Data:
St. Louis Fed: Custom Chart #1
St. Louis Fed: Custom Chart #2
St. Louis Fed: Custom Chart #3

Kerry Lutz is one of the Liberty Masterminds that will speak at the Liberty Mastermind Symposium in Las Vegas on February 21 and 22nd soon.  I wonder if he will be well received after this interview?  He might have some explaining to do:

The U.S. Government data is skewed.  They are not reporting the facts.  They are not reporting the truth.  Expect this to only get worse:

Click to enlarge.

The line in black shows real net corporate dividends.

The line in blue shows the real trade deficit (same scale).

The red line shows the exponential trend in real dividends from 1947:Q1 to 1987:Q1. Note the exponential trend failure (to the upside).

Will real dividends stay permanently elevated? Will profit margins stay permanently elevated? Can we be assured that the worst is behind us? Can we expect future growth in real dividends to match the growth we've seen since the early 1990s? I wouldn't answer a resounding yes to any of those questions. Call me skeptical, to put it mildly. Instead, I would ask the following question.


Put another way, it really helped the corporate bottom line to transition from "Made in USA" to "Made in ____." Mission accomplished. Now what? Persistently high oil prices (financial meltdowns notwithstanding)? Persistently stagnant wage growth? Persistently high unemployment? Increased rate of US (and/or global) financial meltdowns? In and out of ZIRP from here on out (if ever out)? Even more giant sucking sounds?

February 13, 2014
China auto market growth slows sharply in January



Other than corporate executives wishing to boost the value of their net worth and retire before the @#$% really hit(s) the fan, did anyone in power really think this through?

The Chinese drive more. We drive less out of necessity (as seen in annual vehicle miles traveled per capita that fell apart during the Great Recession and has yet to make any sort of recovery). That's our plan for a more prosperous America? Seriously?

Source Data:
St. Louis Fed: Custom Chart

NY DailyNews reports a Florida jury found Michael Dunn guilty on three charges of attempted murder and firing a weapon into a vehicle Saturday in the fatal shooting of 17-year-old Jordan Davis after a 2012 argument outside a Jacksonville convenience store over loud music.

The jury did not reach a verdict on first-degree murder and a mistrial was declared on the charge.

Dunn showed little emotion after the verdict came back from the jury of seven women and five men.

He was convicted on three charges of attempted murder and firing a weapon into a vehicle. He is facing up to 75 years in prison.

The jury deliberated for more than 30 hours over four days.

Dunn will be sentenced on March 24 at 9 a.m.

Dunn pulled a handgun from his glove box after he says he saw the barrel of a gun peeking from Davis’s friends red Dodge Durango. Dunn fired 10 shots, 9 of which hit the car.

Three of those hit Davis, 17, who was probably dead after the first bullet, a medical examiner testified during the trial.

Judge Russell L. Healey praised the jury for their attention to detail during their deliberations.

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