SHORT TAKES ON THE DRIFTING WRECKAGE – OVERNIGHT: 

ANOTHER WARNING – FROM BUSINESS INSIDER:  Wharton professor Jeremy Siegel said inflation could spike to 20% in the next two or three years due to "unprecedented" fiscal and monetary stimulus and an explosion of the US money supply.  "I'm predicting here that over the next two, three years, we could easily have 20% inflation with this increase in the money supply," Siegel said in a recent interview with CNBC.  Siegel went on to criticize Fed chair Jerome Powell for not acting to quell inflation in the near term.  The Wharton professor called Powell the "most dovish chairman" that he's ever seen and said that the Fed chair's stance could "be a problem down the road."  In the meantime, Siegel said he is bullish on stocks because fiscal and monetary support is going to keep flowing in.  The problem is that there's no one listening in the Biden administration.  It's an ideological administration, and only the ideology counts. 

MORONIC – FROM DAILY MAIL:    San Diego officials have been slammed for spending public money on 'divisive and misleading' billboards telling black mothers that racism could hurt their babies - before they're even born.  The billboards argue that racial discrimination is behind higher rates of miscarriages and maternal deaths among black women.  They include claims that 'Our black babies are nearly 60% more likely to be premature due to discrimination' and 'Racism hurts your baby long before they're born'.  Carl DeMaio, a former San Diego city councilmember and chairman of Reform California, a conservative political action committee, said the claims were not supported by data and could discourage women from seeking medical care.  'The big lie is that somehow America is filled with racism - when in fact, America has made so much progress on that issue,' he told Fox News. 'It's truly something to celebrate.'  He said the billboards send a 'dangerous and divisive message,' and should be taken down by the county's health department.

May 16, 2021