NEW ODD LOTS:
@tracyalloway
and I went to Mt Airy, NC to tag along with Richmond Fed President Tom Barkin, as he talked with business and community leaders.
We recorded the conversations to learn what a Fed President really hears when he goes on the road
Incredible. One of the most crucial links in the supply chain, has been for years, built on the premise that some workers would provide labor for free.
THREAD EXPLAINING NEGATIVE OIL:
Oil costs $ to store. Due to the economic collapse, oil isn't being used much. So all the storage facilities are filled up. So nobody who can store it will buy it from you. If you want to get rid of oil, you have to pay someone.
That's the thread
If Biden wins the nomination, a lot of Wall Streeters who said that Sanders winning would force them into reluctantly supporting Trump, will have to come up with a different reason for voting Trump.
Wow, check out the timing of the text that California sent out to the public, and then the moment that electricity consumption in the state started to roll over.
Just re-reading
@AOC
's comments on Don Lemon's show from the week I was on vacation again, and I'm struck by how much better her framing is than the vast majority of people who are paid to opine about inflation professionally.
All the people who said SBF would never be charged etc. because of his political donations.
Probably one of the clearest examples of what is a very common phenomenon, where the savvy people who want "the real story" tend to be the biggest dupes who fall for the dumbest ideas.
Men will literally buy Bitcoin at $60,000 rather than buying a Treasury bond that gives them a guaranteed 2.48% cash payment every single year for the next 30 years.
If it’s true that they torched an $80 billion company cause they thought they were too close to building God, then that’s orders of magnitude the most punk rock thing I’ve ever heard of.
It’s interesting that in less than a year, Biden has withdrawn forces from Afghanistan and passed a substantial infrastructure bill. Two Trump priorities that never got done during his administration.
Just walked to McDonald’s, ordered food, and literally ate it there. It was hot and fresh and cheap, unlike delivery. Why aren’t more people doing this? Kind of a food hack.
This guy is announcing that coal plants will temporarily be restarted for the winter, but that long term there will be no changes to the EU’s Paris commitments.
To what degree did crypto contribute to elevated inflation, by juicing buying power of token holders, contributing to semiconductor tightness, pulling in labor from elsewhere, all the while contributing nothing productive for the supply side?
The US has one of the best recoveries in the world. Inflation is now lower than g7 peers. The hot labor market has put a real dent in inequality. And Biden had a historically great midterm.
And yet for two years, pundits have been totally consumed by alleged policy mistakes.
Mr. Dube and two co-authors found that...in just two years, the economy undid about a quarter of the increase in inequality since 1980. Much of that progress, they found, came from workers’ increased ability — and willingness — to change jobs.
You're telling me a sovereign government attempted to chart a new course for the domestic economy, and then faced an immediate backlash from the IMF, White House, central bank, and big finance, and then a month later a Goldman and Stanford alum was put in charge?
A professor who is considered to be the foremost expert on money laundering -- he literally wrote the textbook on it -- has been charged with money laundering and faces 20 years in prison
Serious question. Do the people who think the virus is some media driven panic designed to tank Trump’s presidency by manufacturing a recession think that the complete lockdowns in places like China and Italy are also in on the same conspiracy to doom Trump?
Unironically, the fact that Satoshi had such good opsec from the very beginning and still hasn’t been doxxed is one of the most incredible aspects of Bitcoin’s immaculate conception.
The dollar has lost 50% of its purchasing power in the last 30 years.
For comparison, Bitcoin has lost 50% of its purchasing power in just the last 3 months.
1997: World's best human chess player gets destroyed by computer.
2017: World's best chess computer gets destroyed by Artificial Intelligence program that had only learned about chess a few hours earlier.
Honestly it doesn't look *that* wedged in there. I mean, just get a tugboat on the back end to pull in one direction and a tugboat on the front to pull the opposite.
IDK, I'm sure the experts are working on it, but that's just me and how I'd do it
I once had a conversation with a politician from a low tax southern state who said his key to getting companies to relocate there was convincing executives' wives that there are plenty of cultural amenities (art, symphonies, etc.) just like they have in California and New York.
A dimension to this story that we can’t forget.
Many of the leading folks in the industry that now wants Powell to step up and protect them spent the last 5 years telling lies and breeding cynicism about the Fed as pretext to sell cryptocurrencies to retail bagholders.
The cost of living is up over 8% in the last year, but that's only if you're using dollars.
For those using and saving in Bitcoin, inflation is closer to 33% over that timeframe.
Inflation has cooled for 10 straight months, even as the unemployment rate has steadily improved. Maybe putting millions of people out of work isn't a necessary pre-condition for stabilizing prices.
Mainstream Democrats who say they want an alternative to Biden. Tbh I don’t really get it. The man has a long career of steamrolling opponents and passing substantive legislation. What else are people looking for in a candidate?
Kind of nuts seeing how well the AI does at producing code. Big societal question now is, how do we increase the number of students with liberal arts degrees in order to prepare for the jobs of tomorrow?
This is incredible. The ultra-rich do things like fly their private jets out of the state right after midnight, and time their returns until just after midnight, so they can escape NY taxes, but stay in the city as long as they can
Do you know what a "bottle night" is?
Probably not, because my gf and I invented it during a 2023 blizzard in Buffalo, NY.
We lock our phones away, turn the TV off...
Each grab a bottle of wine, and talk.
That's it, we simply talk and enjoy each other's presence.
We live…
It’s funny. Tech people and gold people love to talk about how the government manipulates CPI data, and that some private company with modern techniques could do a better job characterizing the real numbers.
And then a company does it and says inflation is just over 2%
ASML, Novo Nordisk, the entire German chemicals industry, Airbus, every luxury brand that matters. I mean come on. People just say stuff on this website.
Georgia Senator Loeffler sold shares of an online travel company just before Trump's European travel ban announcement.
What's more, she had just purchased those shares 4 days earlier
So like… is there really just a scad of unusual Boeing malfunctions this year or is this like when the media goes through a phase where it starts reporting on every shark attack? Genuine q
Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability, while countries closer to the center, like Japan, the US, and Canada are known for their high inflation and weak currencies.
Twitter has two important advantages over other social media platforms.
The first privilege is the freedom of speech. The second privilege is the public nature & credibility of Twitter. Twitter doesn't have an intolerant policy like Meta. Other platforms cannot replace it.
The real lesson of Bluesky is that people are going to it, and even though it's ostensibly "federated" and "decentralized" nobody cares. People will just use the corporate instance of it.
Mastadon's mistake was thinking anyone actually cared about the "pick your server" part.
This is the kind of break-the-glass thinking we need to address the scale of the crisis. Hats off to
@RashidaTlaib
for thinking huge in terms of getting money into people's hands, and not listening to the "but how will we pay for it crowd. Let's
#MTFC
already.
Never seen anything like this posting domination. The number of people who he's driven crazy -- left, right, far left, centrists, liberals, center-right liberals, center-left liberals -- is unreal.
I have no opinion on the Lab Leak theory. No "priors" to update. Nothing. But the fact that Facebook has changed its stance on discussion of Covid's origin seems like a sign that that the whole combatting misinformation industry is really broken.
In America you can become the CEO of a big company without ever having gone to college or maybe just by getting an accounting degree from
a random state school.
But if you want to be the
#2
, you have to have gone to an Ivy.
Here's something I didn't realize.
The Pfizer vaccine program was the only major vaccine effort that wasn't part of the White House's Operation WARP speed.
You, an idiot: Let's get back to work even if it means millions of deaths
You, a separate idiot: I can't believe you're prioritizing the economy when lives are on the line
Me, a normal person: Let's mail everyone a check for a few months and not force such a horrible choice?
Somehow the fact that a few hedge funds were caught short $GME has morphed into “the global elite are under threat by the price of a videogame retailer stock going up” which is, frankly, a hilarious thing to think about.
Everyone on Twitter's like "Good riddance, what an awful decade... also this decade, sold my first startup, got married, three of my portfolio companies had exits, had twins, ran marathons on three continents"
I hope the executive team are ashamed.
It’s not illegal. But it’s harmful. It’ll weigh heavily on their future career prospects. And it’s disgusting. They should know better. And use their many talents to find less egregious ways to hit their targets.
During my life, the term American Dream has been redefined from having a "Nice house in the suburbs and a dog and two kids" to "a longshot bid at becoming a billionaire" and I think that says a lot.
"I believe in a progressive income tax and the rich paying more. But this is the fucking American dream she is shitting on.”
Billionaire Leon Cooperman on
@ewarren
It's really unbelievable how the US government just totally slammed the brakes on public investment after the Great Financial Crisis. Eye opening charts from Morgan Stanley here.