Blow-out jobs report means interest rates have to rise. 10-year Treasury broke 4% this morning. 

 

In the past two bubbles interest rates rose along with stocks until the markets broke. We're repeating that pattern. 

 

The Big Toy indicator is flashing: RV and Rolex sales down. 

Commodities getting whacked. Are we in a bear market? 

France is burning. A sign of the future? 

Quality of life in our major cities is rapidly declining

The Supreme Court is issuing some big rulings. What does that mean? 

-- Affirmative action

-- Web design/bakery "compelled speech"

-- Student debt (separation of powers) goes back to baby boomers, when college was cheap https://www.supremecourt.gov/opinions/22pdf/22-506_nmip.pdf

-- Louisiana court banned gov't social media censorship https://www.politico.com/f/?id=00000189-2209-d8dd-a1ed-7a2de8d80000

(Trump was a hugely consequential president!)

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