Optimism - Kurt Schlichter is predicting a dem meltdown. Conclusion: Nineteen sixty-eight was the year normal Americans saw the Democrats for what they were, and that...
Saturday, June 12, 2010
King of the South 2010
Motorcycle stunts, crashes, blood and babes in East Tennessee.
Watch Pirate News TV for the latest broadcast of KOTS 2010. PNTV sponsored rider David Boyd, then he got his nutsac got torn off. It's all good homie.
Boyd advises competitors to bring extra tires to KOTS, due to asphalt conditions. A single practice run can fry a tire from drifting.
Dirty George's Indy Freestyle comp run:
David "Superdave" Dalmasso's coaster rev-limit wheelie, dedicated to Satan:
Stay tuned to Pirate News for video of Superdave's surgery by rusty razor blade. BYO spray bottle of hydrogen peroxide.
David Boyd rips his nutsac:
Not-for-profit news broadcast by Pirate News TV in Knoxville TN. Fair use for cross-promotional marketing to bypass media censors.
Stay tuned for updates on how Big Brother's Police State tried to kill King of the South in 2010, where motorcycle businesses report a 95% drop in revenues due to martial law.
Bonnaroo concert and Police State massive drug bust was on the same weekend, a tough act to compete with, for those who enjoy paying cops $100,000 for hotel accomodations. Even Bonnaroo had 25,000 less than last year, perhaps due to ticket prices between $250 and $1,200. Only one dead spactator.
Attendance that same weekend at the Yamaha R1/R6 Convention at Deals Gap was down 70% in 2010.
Also in June 2010, 2 Wheel Tuner magazine goes out of business, AMA Dragbike Series went kaput and ceased operations effective immediately, due to the economic Depression. No bank loans for bikes, or anything else. Brandi Neithamer, Vice President of AMA Dragbike, said, "We knew this year would be very difficult given the economic conditions, but we never anticipated it would go downhill so quickly." Frakkin bankstas at the private "Federal" Reserve Bank Corporation!
Shell-Shocked Americans Still Aren’t Buying Anything
incent Fernando, CFA
July 1, 2010
Despite a small rebound from crisis-lows, this long-term chart from Deutsche Bank keeps the rebound in perspective.
Americans’ discretionary spending remains at the lowest level in at least 60 years, as a percentage of GDP. This is despite strong sales of iPads and iPhone 4’s, which makes Apple’s (AAPL) continued success with new product launches even more commendable.
Note that we’d need about 5x the recent rebound to return discretionary spending back to previously normal levels.
Yet in a twist, Deutsche believes that since discretionary spending remains depressed, there’s less room for a large negative economic surprise on this front going forward.
Deutsche Bank’s Peter Hooper:
Finally, the U.S. economy today bears little resemblance to its pre-crisis state. Discretionary spending on durables and structures by households and firms (which drives recessions) has already been compressed to historic lows (Chart 15), and substantial progress has been made in mending balance sheets. Thus, there is much less “scope” for a sudden downturn than there was three years ago.
The economy suffered as discretionary spending dropped during the crisis. Yet the U.S. economy is now less dependent on this spending, since it remains far smaller as a proportion of GDP than before. Basically, people aren’t buying anything discretionary, so there’s little potential downside from this part of the economy.
Mr. Hooper points this out as part of a broader analysis about where the economy could be at risk, the chart above isn’t ‘good news’, it’s just tapped out as a source of further major negative surprises. The economy is now driven in different ways than before, less by big-ticket consumer spending and of course less by the housing industry.