The political left has completely lost its collective mind.

How Can We Get Rid of Trump?

We’re just a month into the Trump presidency, and already so many are wondering: How can we end it?

One poll from Public Policy Polling found that as many Americans — 46 percent — favor impeachment of President Trump as oppose it. Ladbrokes, the betting website, offers even odds that Trump will resign or leave office through impeachment before his term ends.

Sky Bet, another site, is taking wagers on whether Trump will be out of office by July.

There have been more than 1,000 references to “Watergate” in the news media in the last week, according to the Nexis archival site, with even some conservatives calling for Trump’s resignation or warning that he could be pushed out. Dan Rather, the former CBS News anchor who covered Watergate, says that Trump’s Russia scandal isn’t now at the level of Watergate but could become at least as big.

Maybe things will settle down. But what is striking about Trump is not just the dysfunction of his administration but also the — vigorously denied — allegations that Trump’s team may have cooperated with Vladimir Putin to steal the election. What’s also different is the broad concern that Trump is both: A) unfit for office, and B) dangerously unstable. One pro-American leader in a foreign country called me up the other day and skipped the preliminaries, starting with: “What the [expletive] is wrong with your country?”

U.S. retail sales rise; inflation posts largest gain in four years

U.S. retail sales rose more than expected in January and consumer prices recorded their biggest gain in nearly four years, boosting prospects of an interest rate increase from the Federal Reserve next month.

The economy’s strengthening outlook was also bolstered by other data on Wednesday showing manufacturing and mining production rising last month as the drag from lower oil prices fades. The reports came as Federal Reserve Chair Janet Yellen appeared to put a March interest rate hike on the table.

“All things consumer show the economy is starting the year off with a bang,” said Chris Rupkey, chief economist at MUFG Union Bank in New York. “Interest rates are too low and with an economy this strong rates need to be put on a preset course higher.”

The Commerce Department said retail sales increased 0.4 percent last month, buoyed by purchases of electronics and appliances. Households also spent more on dining out, sporting goods and hobbies.

December’s sales were revised up to show a 1.0 percent rise instead of the previously reported 0.6 percent advance. Sales rose despite motor vehicle purchases posting their biggest drop in 10 months.

Compared to January last year retail sales were up 5.6 percent. Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.4 percent after a similar gain in December.

These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. Economists polled by Reuters had forecast retail sales ticking up 0.1 percent and core sales gaining 0.3 percent last month.

US Unemployment Claims Still Low And Lower Than Expected

The weekly unemployment claims numbers are out and they’re showing that Donald Trump sure turned up to take office at the right time. We’re in the middle of streak of low layoffs that we’ve not seen for many a decade, thus the labour market’s strong and much seems, if not quite everything as yet, right with the economy. We should note that things aren’t perfect but almost all of the problems that remain are not to do with the cyclical state of the economy, they’re more structural:

Claims for unemployment benefits rose by 5,000 last week to a seasonally adjusted 239,000, the Labor Department reported Thursday. The increase came after claims had dropped to 234,000 the previous week, the second lowest reading in the past year. The less-volatile four-week average edged up a slight 500 applications to 245,250. That marks 102 consecutive weeks in which claims applications have been below the key threshold of 300,000, the longest stretch since 1970.

And something that we’ve noted here before. Back then, in those 70’s of tank tops and bell bottoms, the labour force was about half the size it is now. So the rate of unemployment claims, as opposed to the number, is about half what it was back in those halcyon days:

Fewer Americans than forecast filed last week applications for unemployment benefits, underscoring a vibrant labor market.

Jobless claims rose by 5,000 to 239,000 in the week ended Feb. 11, a report from the Labor Department showed Thursday. The median forecast in a Bloomberg survey called for 245,000 applications. Continuing claims fell slightly.

Not just a low number but also lower than surveyed economists expected.

The number of Americans who applied for unemployment benefits in mid-February rose by 5,000 to 239,000, but they remained at exceedingly low levels that reflect the resilience of a nearly eight-year-old economic recovery.

U.S. infrastructure legislation back on Congress’ radar

President Donald Trump’s pledge to bring massive investments in U.S. infrastructure projects showed new signs of life on Friday after lying dormant for weeks, as leading Republican lawmakers said proposals from the administration could be in the offing.

Senate Majority Leader Mitch McConnell, a Republican, told reporters he expects to receive “some kind of recommendation on an infrastructure bill, a subject that we frequently handle on a bipartisan basis,” but gave no details or timing.

He has previously voiced concern over adding to budget deficits with a new injection of federal funds for road, bridge and other construction projects like the ones President Barack Obama secured from Congress in 2009, especially after a major highway funding law was enacted about a year ago.

Some Republicans and Democrats in Congress are increasingly criticizing Trump’s administration for being slow to get behind his legislative initiatives during the first month of his presidency.

Trump’s plans to create an infrastructure council led by two New York billionaire friends, developers Richard LeFrak and Steven Roth, have yet to be launched, a spokesman for LeFrak said.

During his presidential campaign, Trump said he would push for a $1 trillion infrastructure program to rebuild roads, bridges, airports and other public works projects. He said he wanted action during the first 100 days of his administration, which now seems unlikely.

The Republican president has talked about creating a tax credit to encourage private sector investment in many of these projects. But Democrats say that would fail to spur enough rebuilding and put taxpayers on the hook for a tax credit to wealthy developers, who they said would build toll roads that taxpayers would then have to pay to use.

Democrats want a more direct federal role in sparking a construction boom.

Warren Buffett selling home in Laguna Beach’s Emerald Bay for $11 Million

Berkshire Hathaway CEO Warren Buffet has put his six-bedroom house in Laguna Beach’s Emerald Bay on the market for $11 million.

“For the first time in nearly 50 years the legendary ‘Oracle of Omaha’s’ home (at) 27 Emerald Bay is now available!” says the listing by Bill Dolby of Villa Real Estate.

Buffett, 86, has owned the ocean-view home since 1971, when he paid $150,000 for it. He’s used the house for family vacations for the past 46 years, Dolby said.