A study conducted by Zillow revealed that house-price inflation (a form of inflation that, like stock-price inflation, apparently has little to no political impact) in most major metro areas surpassed in 2020 "the median salary in those locations." The Seattle metropolitan area was no exception. Indeed, it was one of 10 housing markets that experienced "the widest gap between home price appreciation and median salaries." This should not surprise anyone, because it is in the nature of capitalism to replace the value of people with the value of things. In Marxian language, this is called reification.
Weather Update: It's near noon, the sun is out, the wind is up, and the trees are animated like the members of a congregation moved by the holy spirit. As for the clouds, they are, to use a well-worn literary expression, scudding across the sky. But where is this thunderstorm area meteorologists saw in their models yesterday? At this moment, what cannot be spotted on every corner of Columbia City's horizon are those dark massive clouds with the power and anger to discharge air-cracking and sound-breaking bolts.
Another Weather Update: Spotted at 1:15 pm. Thunder-looking clouds heading our way.
The shares of Boeing Corporation, which is based in Chicago, fell sharply due to a report of one its planes, a Boeing 757 operated by the cargo company DHL, breaking in half before take-off—one wonders if one part went here and the other there. MarketWatch reports that the two pilots on the plane came out of the broken Boeing 757 alive.
Why not ask, "Do you feel safe on the freeway?" Fox13: "Public safety is a growing concern for officers as gun violence and road rage incidents are both on the rise." Indeed, cops might feel safer on a Metro bus.
Do you feel safe on public transportation in the Seattle area?
— KOMO News (@komonews) April 7, 2022
For once, I kind of agree with Seattle Times columnist Jon Talton: High gas prices are not, on the face of it, a bad thing. The problem is that the money made from this form of inflation goes up to gas corporations, and not down to the public. We do not have what post-Keynesians describe as an income distribution policy for inflation, and as a consequence high prices are not transformed into social benefits. Instead, the pain at the pump results in buybacks that transfer profits into rich shareholders.
There was a dispute (most likely over nothing), there was gunfire, and, in the end, there was a dead man. All of this happened in a Kent cemetery (Hillcrest Burial Park) on a sunny Thursday afternoon.
Though The Slap might be over, Russia's assault on Ukraine is not, and it appears to have no end in sight. BBC: "Dozens dead after Ukraine railway station hit by rockets."
Russia's currency, the ruble, is doing pretty well, despite the invasion and the sanctions and the isolation from the international community. What's almost never seen in this very sad world of ours is war and money parting ways.
The presidential race between France's neo-Nazi leader Marine Le Pen and its neoliberal president Emmanuel Macron is "tightening." The Wall Street Journal attributes this state of things to inflation, to the rising cost of energy and food. How a neo-Nazi will solve this particular economic difficulty, which, in the main, has its source in Russia's invasion of the Ukraine, is unknown. Why not turn to the socialists? Because neoliberalism only gives voters the choice between the far right and the free market (also called TINA).
In short, rural people are once again doing what they always do best, which is being rural people. Reuters: "U.S. solar expansion stalled by rural land-use protests."
The reason why "egg prices are soaring" right now? Nothing to do with the radical left's out-of-control spending. This time the blame can be fixed squarely on a "deadly and highly infectious avian flu" that has forced "US farmers to kill millions of egg-laying hens, reducing the country's egg supply." According to CNN Business, retailers have seen cost of a dozen eggs more than double (around $1.25 to around $2.80) in a month.
Scientist studying dolphins have found that their "strong social bonds" and "sharing space and air" comes with a heavy price. These highly intelligent and playful sea mammals easily spread a deadly virus among themselves. It seems someone has to teach them social distancing.
This turtle. How can I put this? It seems to be hard-headed, a stubborn little thing. Ok, the turtle appears to be stupid. But it is fast.
In honor of yesterday, which some have described as a "prelude to summer," let's end AM with some sunny reggae from Hawaii, Micah G's "All For You":