discussion comment
2 years ago
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shailynnThey never tell you what you need to know.
A head of risk assessment at the beleaguered Silicon Valley Bank has been accused of prioritizing pro-diversity initiatives over her actual role after the firm imploded on Friday.
Jay Ersapah – who describes herself as a ‘queer person of color from a working-class background’ – organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented ‘safe space’ catch-ups for staff.
discussion comment
2 years ago
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shailynnThey never tell you what you need to know.
There’s a rumor that Harry and Meghan had millions at SVB.
discussion comment
2 years ago
The regional banks keep a lot of their investments in longer T Bills. These have plunged in value. Like 20%-25%. The capitalization requirement doesn’t reflect this. The assets are only marked to market when sold, which SVB did, revealing the problem. The worry is the same problem exists at all regional banks, but the problem is hidden.
discussion comment
2 years ago
In the wake of the collapse of Silicon Valley Bank, the stock index for regional banks dropped 8 % yesterday and 4% so far today. That’s unprecedented. Treasury Secretary Yellen has just announced she is monitoring several banks. This could turn into a full blown banking crisis within days.
The problem is most banks have invested heavily in “safe” Treasury Bills which have collapsed in value because of raising interest rates. We are discovering that many banks are under capitalized as a result.
discussion comment
2 years ago
Biden proposes $6.8 trillion budget for FY 2024, trillion more than last year
McCarthy: $10.5T of interest costs on debt over 10 years 'one of the greatest threats' to U.S.
Inflation is not going away with these clowns in the Whitehouse
discussion comment
2 years ago
She’s okay for a 50 year old. I suspect she doesn’t look as good in person without the magic makeup on television.
discussion comment
2 years ago
Inflation, recession, war, crime, but at least we don’t have Trump saying mean things.
discussion comment
2 years ago
At this point, monetary policy has relatively little impact on inflation. It’s our fucked up fiscal policy ( trying to spend our way out of all problems ) that needs to change before we defeat inflation. Plus, bringing the supply chain back to North America and killing the green energy fiasco wouldn’t hurt.
discussion comment
2 years ago
You posted a 5 second clip from Talledega Nights that requires registration to listen.
No thanks.
discussion comment
2 years ago
Every generation has its own standard. For me, the Cindy Crawford, Kathy Ireland, Elle McPherson era was the best.
discussion comment
2 years ago
From the conservativetreehouse.com
Western governments, including the U.S. through Joe Biden, have limited and curtailed the production and exploitation of Oil, Coal and Natural Gas. At the core of the inflation within those same governments, this is the issue at hand. Energy prices have skyrocketed, driving the cost of everything through the roof. The central banks are raising interest rates in an attempt to shrink the economy to match the drop in energy production. This is their monetary policy (interest rates) attempting to support economic policy (Green New Deal / Build Back Better).
There are no lines for consumers in the U.S and Europe of people buying durable goods, electronics or shopping for non-essential items. Prices on the products within the durable goods economy are not being driven by excess consumer demand. There are not 25% more people buying lemons and milk than this time last year. The prices for goods in general, and for essential goods specifically, have risen as an outcome of the input costs around energy skyrocketing.
discussion comment
2 years ago
Two Year Treasury Yield explodes higher, reacting to Powell's Fed testimony.
Highest Interest Rate at the short-end since 2007.
discussion comment
2 years ago
From the Kobeissi Letter
SUMMARY OF POWELL TESTIMONY (3/7/23):
1. Peak rate will be "higher than anticipated"
2. Revisions show inflation "higher than expected"
3. Minimal deflation in services
4. Decisions to be made "by meeting"
5. Inflation "to be bumpy"
discussion comment
2 years ago
In Phoenix, the main clubs ( for me ) are within a few miles of each other. I start at the club with the highest probability of success. I order a drink and stay a half hour. If things aren’t looking good, I move on.
discussion comment
2 years ago
In an agrarian society, having a lot of kids is an economic advantage. Free labor.
In an urban, industrialized society, having a lot of kids is an economic expense.
In recent years, as capitalism spread around the world, the birth rate plummeted in direct proportion to how advanced each societies economy was.
The US has bucked the trend through immigration. That’s why our younger population is more diverse. If you didn’t count first and second generation immigrants, our median age would be much older and our proportion of white people much higher.
Incidentally, over the next 50-100 years, world population will shrink and age. Slowly at first, then rapidly. In Japan, for example, there are now twice as many deaths each year as births. It doesn’t take long for that pattern to have a profound affect. China’s population will be cut in half in 30 to 40 years with most people being at, or near, retirement age.
discussion comment
2 years ago
From the Kobeissi Letter:
The U.S. Now Has:
1. Record $16.5 trillion in household debt
2. Record $11.9 trillion in mortgages
3. Record $1.6 trillion in auto loans
4. Record $986 billion in credit card debt
Total mortgage debt is now more than double the 2006 peak.
Meanwhile, 36% of Americans have more credit card debt than savings with balances rising at the fastest pace since 1999.
This is all while mortgage rates just hit 7.1% and credit card debt rates hit a record 24.9%.
We are "fighting" inflation with debt.
discussion comment
2 years ago
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Papi_ChuloMiami, FL (or the nearest big-booty club)
I had trouble on rural roads, where the lack of traffic caused me to forget which lane I was supposed to be in, and roundabouts.
Shifting gears with the left hand was also strange.
discussion comment
2 years ago
I’d be more worried about police watching for drunk drivers leaving the club. That happens regularly.
discussion comment
2 years ago
“he keeps poking to government in the eye”
They deserve it
discussion comment
2 years ago
Since Henry Ford invented the assembly line, all cars have been assembled in the same way. A single line where assembly takes place one piece at a time. Tesla will now begin using a modular line where 4 or 5 lines converge for final assembly of modular pieces. This will allow for much faster assembly, with many workers simultaneously building the car. It will require half the floor space. And, it will make it easier to automate tasks.
This is truly revolutionary in the world of industrial engineering.
discussion comment
2 years ago
If Musk is nothing but a con man, could someone explain how Space X is revolutionizing the space industry and running rings around everyone, including NASA ?
discussion comment
2 years ago
“I see Mrk advocating for us to lose all of our liberties for the sake of ,,,,,,, exactly what?”
Nope, I’m just telling you we’ve already lost our liberty, and describing who will benefit. The game is rigged and Elon figured out how to win. As a consumer, we can either take advantage of the rules, or not.
In a fair world, the government wouldn’t put its thumb on the scales and pick winners. But, if the government offers to sell us quality steak at $.98/pound, what choice do we have ?
discussion comment
2 years ago
In the presentation, Elon said the real game changer will be autonomous driving. When that happens, there will be less need for privately owned vehicles, especially in urban areas. More people will use Uber-style services. The economics of transportation will be turned on it’s head.
Personally, I think it will 20-30 years before autonomous driving is technically possible. But, it will happen.
discussion comment
2 years ago
It’s a game changer largely because government is forcing the change through subsidies and regulations. Tax credits for EVs. Bans on drilling raising gas prices. Severe emissions limits adding thousands to the cost of an ICE vehicle.
The change is coming because government says it will.
discussion comment
2 years ago
In the early days, Tesla was essentially making cars manually. No automation. At that point, they were a joke.
They’ve made the transition to a highly automated manufacturing process where scale matters. They’ve also managed their supply chain. And, as Toyota did with ICE vehicles, they’ve used design simplification and constant improvement to lower cost while improving quality. This is not the same company it was three years ago.