From Insider:
1980s millennials are finally recovering from the Great Recession
Nearly 15 years after the Great Recession hit, the eldest millennials are finally doing alright.
Graduating into a blighted job market put them on a rocky road to building both their career and wealth, which was only further hampered by massive student debt and soaring living costs for things like homes and health care. But data over the past year has revealed that the cohort is making a comeback from their economic challenges in the job market and in their bank accounts.
Research shows that those who graduate during a recession could see stagnation in financial growth for up to 15 years. The St. Louis Fed previously deemed millennials born in the 1980s at risk of becoming a “lost generation” for wealth accumulation. As of 2016, their median wealth levels were 34% below older generations when they were a similar age, making them the slowest cohort to recover from the Great Recession.
“Not only is their wealth shortfall in 2016 very large in percentage terms, but the typical 1980s family actually lost ground in relative terms between 2010 and 2016, a period of rapidly rising asset values that buoyed the wealth of all older cohorts,” the St. Louis Fed report read.
But a follow-up report last year found “millennials may not be as ‘lost’ as we once thought.” It revealed that the cohort made serious ground in building wealth. As of 2019, they had narrowed their wealth deficit to 11%. Of course, this doesn’t take into consideration effects from coronavirus recession, as full data for this period isn’t yet available.
The kids I work with are doing fine though most have advanced degrees and were in the top levels in their class. They’re way too intelligent, excel quickly and keep me moving, for sure. One asked me this week for advice on a house purchase, looking anywhere from Bergen County to the Montclair/Caldwells area. This is his and young wife’s first house purchase and they just lost out on a bid for a house listed at $799,000. That’s a far cry from a lot of our first purchase limits, even in recent years. So, a lot of these millennials are doing fine!
Skimmed yesterday’s thread, didn’t make it all the way through. Apologies if the conversation has moved on. Some thoughts…
There was reference to measuring CW’s performance relative to aggregate gains/losses. Use VWAP.
I won’t waste the server space here, but bottom line over the last three years using yesterday’s close…
ARKK shares in the green showed an aggregate profit of $2.8B
ARKK shares in the red showed an aggregate loss of $45.8B.
$43B of losses for ARKK shareholders. 16x the amount of losses relative to gains.
CW is the godzilla/mothra of shareholder value destruction.
Details here:
https://imgur.com/a/bvgMwwj
Daaammmnnnn
And she’s cutting her flowers and watering the weeds to try to stay afloat. Shorting was never supposed to be this easy.
Re: rate moves.
Chi, seeing some interesting thoughts from a strategist or two I respect.
Everyone is focused on the FFR as that is the rate the Fed (historically) could control. They never had direct control over, and could only tangentially influence, the longer end of the curve.
Consensus seems to be the Fed will not flatten and certainly will not invert the yield curve which is causing some uncertainty given the behavior of the ten to recent news. Concern is the Fed’s hands will be tied if after a hike or two the ten doesn’t respond well causing the curve to flatten and thereby limiting future moves.
Thesis is this time is actually different. Given the massive balance sheet unlike any other rate hike period the Fed can have direct control over and could obliterate the long end of the curve (blowout long rates) by dumping Treasurys.
The yellow flag these guys are waving is that everyone is singularly focusing on dot plots, Mar/Jun/Sept, three versus four 25bp moves, etc. while the real action may very likely take place entirely away from short term hikes and instead the balance sheet may be the major tool, not the warmup band.
If so, very possible Powell > Volcker.
That would most certainly blind side the market.
For your consideration……
btw left, you were missed. Welcome back.
LOL. Good to be back. Time at a premium……
Lib, cracked your email with the analysis. Nice. Have some questions. Maybe by text. Or SC hooch 95ed up.
Left,
If they dump long end, won’t that drive up yield on the long end, if so, don’t new issued LT treasuries pay a lot more interest. Not too long ago, the concern was that with so much debt, once interest rates when up, the amount of fed budget going to pay interest costs was going to be big issue.
From the discussion on EVs
https://www.autonews.com/sales/honda-tempers-out-whack-expectations-ev-demand-us
PS, apparently Tesla heater failures in very cold weather are becoming an issue.
They are driving the market. I’ve said this many times on here. The educated millennials are doing fine. They have killed it in the stock market and cryptos.
Fast Eddie says:
January 14, 2022 at 7:22 am
The kids I work with are doing fine though most have advanced degrees and were in the top levels in their class. They’re way too intelligent, excel quickly and keep me moving, for sure. One asked me this week for advice on a house purchase, looking anywhere from Bergen County to the Montclair/Caldwells area. This is his and young wife’s first house purchase and they just lost out on a bid for a house listed at $799,000. That’s a far cry from a lot of our first purchase limits, even in recent years. So, a lot of these millennials are doing fine!
zuGpPvUrk
Left,
Don’t know if you have the time, but it’s rivalry week and VGR is playing Montclair in what should be a real rock ’em sock ’em game this evening. Details here.
https://twitter.com/VGRHockey/status/1481986071974281217?s=20
Otherwise, Silk City only works if we can be outside. Grim? You guys got heaters? You could always stop by our place too. We salvaged an unused gas heater from a neighbor who never could get it to work. Was a loose wire. They told me to keep it since they bought another one.
BTW, the our investment club, now valued at 150K (not bad considering eight out of the ten members contribute $20 per month and many have made withdrawals) started a position in it. The timing was perfect. Market dropped 6% and it went up about 10%. Now lets see that promised margin increase by management. If you can’t make the game or SC anytime soon, feel free to text me.
Can we all agree that ark is a volatile long-strategy? Why so much focus on this past year? Show me one high growth strategy that worked this past year. Should she have abandoned high growth and went into the sectors she is betting against long term (financials and energy)?
What should she have done BRT? I’m all ears. Should she have shorted the stocks in the short term that she believes in long-term? She would never short these stocks because she actually cares about the companies and their technology. She believes in investing in these companies because they will have a positive impact on this world. Imagine that.
Btw, she has over 50% of her 401k tied to ark funds. She has skin in the game. Things are going to be okay in the future. Let the long-term strategy play out.
In other news.
My son was staring at his apple juice this morning, so I asked him what’s up? He said, the bottle of apple juice says CONCENTRATE FROM TURKEY.
Perhaps remote learning wasn’t so great after all. He then said he was joking, but I could tell it took him a few seconds to realize it was the country and not the fowl.
Pumps.
You are infatuated. Here’s a clue. Value matters. She lucked into an absolutely incredible momentum trade. Will this momentum occur again? Well it took 16 years for people to invest in non-profitable tech after the dot-com burst. How long do you think it will take before people forget this drop and chase the same speculative techs again? I remember when Time Warner and AOL merging was going to be the great synergetic empire between the future and current entertainment. How could it not with these two near monopolistic empires? Value does matter. Remember the turtles.
Another morning, more “Above the law” from those who are supposed to enforce it:
“Baltimore’s top prosecutor Democrat Marilyn Mosby is indicted on charges of perjury and making false mortgage applications for Florida summer homes using COVID relief: Kamala praised her for always ‘doing the right thing’
“$ARKK with biggest outflow since March, has seen half a billion out in past 2 days, altho.. it took in about half a billion in the 3 days prior. This in and out of flows matched with >$1b/day in volume is silver lining for ARK, shows more tug of war than exodus (as we predicted).”
https://twitter.com/ericbalchunas/status/1481987264452386821?s=21
Eddie
Your post from yesterday.
That young girl, gone over 100 dollars. Yeah, bothers me as well.
Deflation is the real problem.
leftwing says:
January 14, 2022 at 8:29 am
Re: rate moves.
Got reports in my area Walmart running out of cat food.
Are senior citizens stocking up?
Lib.
Haha.
PS, apparently Tesla heater failures in very cold weather are becoming an issue.
Even VW used to have a fossil fueled aux heater in the People’s Car.
I’m no engineer, but why not stuff a small kerosene heater in the car? Guess when you want full EV, you really want full EV.
You can thank the 2008 crisis for it taking so long. Would have arrived a lot earlier. You can’t stop innovation long-term, only in the short term.
Libturd says:
January 14, 2022 at 9:34 am
Pumps.
You are infatuated. Here’s a clue. Value matters. She lucked into an absolutely incredible momentum trade. Will this momentum occur again? Well it took 16 years for people to invest in non-profitable tech after the dot-com burst. How long do you think it will take before people forget this drop and chase the same speculative techs again? I remember when Time Warner and AOL merging was going to be the great synergetic empire between the future and current entertainment. How could it not with these two near monopolistic empires? Value does matter. Remember the turtles.
And how did value do from 2010-2020? It’s getting destroyed by the emergence of this new economy. Slowly, but steadily. You don’t want to be in value plays in a rapidly changing economy due to new disruptive innovation. Not many people understand this. Sure, value made a comeback for the time being, but it’s going to get smashed long-term. It’s a value trap that is blatantly obvious if people would open their eyes.
Value will come back after this disruptive innovation matures and becomes the new economy. We are in the 4th industrial revolution as we speak.
Just remember that that Europe and Japan (and Russian, Chinese and Brazilian nationals) have slim pickings with sovereign debt. There is only so high The Ten et al. goes before it gets external buyers on the yield differential. Don’t get me wrong, that is a move that would certain clip the equity market. I’m thinking 225-250 as an upside? Still, interesting the respect of 175-180 level.
Nomad says:
January 14, 2022 at 9:02 am
Left,
If they dump long end, won’t that drive up yield on the long end, if so, don’t new issued LT treasuries pay a lot more interest. Not too long ago, the concern was that with so much debt, once interest rates when up, the amount of fed budget going to pay interest costs was going to be big issue.
chicagofinance says:
January 7, 2022 at 6:21 pm
No One: I wish leftwing would come back. I think he would really add some value to this discussion.
chicagofinance says:
January 7, 2022 at 4:21 pm
I forgot with whom I was dealing….. you don’t need the structured product or EIA’s, just hold cash in conjunction with LEAPS. I would stick with the main indeces. I would work with technical analysis until the VIX or other vol compresses to the 200 day MA, and buy at that point. Obviously we are way elevated.
left: did you see this? I don’t see how Omicron doesn’t fcuk the whole season up, but there is always hope. They might have found a new savant to man the pipes.
https://www.ncaa.com/rankings/icehockey-men/d1/uschocom
“Still, interesting the respect of 175-180 level.”
I call it disrespect.
https://youtu.be/FLGxWPtgodo
Already lost Saturday’s game. I don’t get it. I thought cannabis use suppresses COVID. Why would Brown campus shut down?
https://ecachockey.com/men/2021-22/schedule?teamId=pg7sysizwv6wkqkq
Lib,
Give this a read. Can’t get the good parts of the article through the blog’s firewall. So click on the link and read towards the end.
Courage of your convictions
Where you sit in this debate defines you as an active investor today – between waiting for the “big crash”, cash in hand, or doubling down on any dips in the market, no matter how small. Watching on, I was sceptical of Wood’s brand of technophilia but could not help being irked by value’s long stretch of underperformance. Some of Wood’s bolder predictions for Bitcoin and Tesla have come true, to the dismay of analysts who called them out as ridiculous. What I am impressed by is their unwavering commitment to their investing philosophy. Both Wood and Arnott will have good years and bad, but it’s the courage of their convictions in the face of great criticism which will keep investors sticking with them for the long term. Chasing short-term performance is no recipe for success.
https://www.morningstar.com.au/stocks/article/disruptive-innovation-and-the-valuation-conun/215920
Sad hockey story.
Don’t have much time to fix this depending on the location in the neck.
https://abcnews.go.com/Sports/high-school-ice-hockey-player-dies-game-skate/story?id=82140372
“These seeds were planted in the 20 years that ended in 2000. The power of the exponential growth rates that we’re going to see is a function of how long they’ve gestated. When I throw out a number like 88% annual growth in units, that sounds preposterous, but Wright’s Law gives a very nice guide – here’s how the costs should decline, if you pass those costs down in prices, the uptake will be there.”
She adds:
“We got a glimpse of exponential growth during the internet – it turned so many people off because it was so wrong. The costs were too high, the technologies weren’t ready. Now, technologies are ready and not only are we seeing these five innovation platforms evolving, [artificial intelligence, robotics, energy storage, DNA sequencing, and blockchain technology], we are beginning to see them converge.”
And how did value do from 2010-2020?
He was saying valuation matters.
https://www.youtube.com/watch?v=BzAdXyPYKQo
Got reports in my area Walmart running out of cat food.
Are senior citizens stocking up?
I will never understand this. Although I can because people are stupid. I look at the cat food prices at target. It costs more than actual raw chicken. Way more. Moreover, Costco sells Rotisseree chicken at a loss. You can buy cheaper parts of the chicken. I’m almost exclusively on Thighs and Leg Quarters at this point.
What irks me is that hipsters discovered hangar steak, skirt steak and pork belly, put it on all their menus and drove up the price. Even friggin guanciale (pork jowls) was supposed to be one of the cheapest cut of the pig. Wegmans is selling it for $31 a pound!
“What I am impressed by is their unwavering commitment to their investing philosophy.”
They do not have a choice.
I would spend my next ten minutes explaining why I feel the author is wrong, but let me summarize it by stating how short human memories are. We are at the precipice of the longest bull ever. This alone should scare you out of high or no p/e equities. But the truth is, no matter what I say, it will fall on your deaf ears. There will be another time to invest in disruption. And quite frankly, you talk about CW and ARKK and then reveal a $13K investment. $13K is less than what I gain or lose on the average market day. I share this not to brag, I share this to show you what a waste of time it is so fret and dedicate so much energy over such a small position (if you are not lying this time). Do what you want to do. Like Stan said, you can’t control other people. Especially not one like you. Stop looking for support from others. To strike it big, you can not follow the herd anyway. You must lead the herd. How can you lead the herd if you wait for their buy in?
Imagine having the opportunity to invest in disruptive innovation not seen since the early 1900s and crying that it is overvalued and not making profit. Blows my mind.
Do you know how rare of an opportunity this is? Ton of money to be made and you are here obsessing about shorting it. To each and their own. I’m taking full advantage of this awesome opportunity. Enjoy shorting it.
BRT says:
January 14, 2022 at 10:13 am
And how did value do from 2010-2020?
He was saying valuation matters.
That’s the point you all miss. I am only starting this investment. Going to consistently invest into this (min of 30,000 a year) when it hits a bottoms for the rest of the decade. It’s like buying an etf based on tech stocks from 2000-2010. You will have created a sweet long-term position to cash out on.
“And quite frankly, you talk about CW and ARKK and then reveal a $13K investment. $13K is less than what I gain or lose on the average market day. I share this not to brag, I share this to show you what a waste of time it is so fret and dedicate so much energy over such a small position (if you are not lying this time).”
Phoenix,
My kid always wears a neck guard. I shared with him the story of Clint Malarchuk. Had he been on the other side of the arena, he would have died. He was lucky to be on the side where the medics were stationed who essentially made a tourniquet on his neck.
Not for the queasy. https://youtu.be/uDXWuzFZDb4
When I first heard of that kid up in Greenwich, the news only said he had fallen and another kid couldn’t avoid him and skated into him. I knew it had to be the external jugular and not a head or spine job. Ended up being right. Two days later, all of the leagues now require neck guards. Most always did, but like everything else in selfish America, most kids did not wear them. At least in this case, the boneheaded decision wasn’t negatively impacting everyone else.
Is not investing in ark funds a contrarian play right now? The herd left. Crashed the price, and now you can come in and start building a position. The herd created a growing bubble in value right now.
“To strike it big, you can not follow the herd anyway. You must lead the herd. How can you lead the herd if you wait for their buy in”
Boomer Talk:
Mehler, a history professor at Ferris State University in Big Rapids, Mich., told his students he didn’t want to know anything about them, not even their names, because “you people are just vectors of disease to me.”
The 74-year-old said it didn’t matter how hard they worked in his class since he randomly predetermined their grades.
And if they didn’t like any of that?
“Go complain to your dean … go ahead,” Mehler said. “I’m retiring at the end of this year and I [don’t care] any longer.”
This is what kids pay tuition for. Bet he had this attitude for a long time.
And Boomer wants to be “respected?”
https://web.archive.org/web/20220113045059/https://www.ferris.edu/arts-sciences/profiles/humanities/barry-mehler.html
That’s the point you all miss. I am only starting this investment. Going to consistently invest into this (min of 30,000 a year) when it hits a bottoms for the rest of the decade. It’s like buying an etf based on tech stocks from 2000-2010. You will have created a sweet long-term position to cash out on.
Actually, you were starting at $140 and you claimed for 12 months straight that you were averaging in. And all along the way, you called the bottom about a dozen or so times. You even claimed you wanted to tap into the equity of your home but were shut down by your wife.
Before it gets taken down again. This should be left up for all to see.
https://www.youtube.com/watch?v=RrOzY86YcEM
So much to catch up on lol….
Lib, let’s go for warmer weather somewhere when it happens. Sitting here seeing a salter go by right now, WTF, more precip again? Have fun at the rivalry game, those are great. I would seriously consider hitting it but my youngest leaves for school early next week so taking some quality time this weekend with him. GL to your boy, big game for him. Also for any stock we discuss I can’t stress enough my view holds for that time only, it kills me but if I see quick gains on a position I’m out.
Chi, agree on the 225-250, don’t know how we get there pushing on the string of ST rates especially with the resistance you note.
On the NCAA…holy cow….sweep of ND on ND ice?! Was hitting Princeton Harvard tomorrow, postponed about a week ago. Brown not good. Have my tickets and Statler reservation for the 29th since last fall, hope that goes forward or at the very least please move in my cancellation window for the room so I don’t get tagged with a room in Jan in Ithaca, ha!
BRT,
Go to Restaurant Depot for beef.
For pork (especially exotic cuts), go to Asian Markets.
They are hipster pricing immune.
Every time I see a barbeque joint selling a brisket plate for $20, I want to hurl. I smoke a brisket that’s about 15 pounds on average. I can usually get it for $45 to $60. Even now. There is enough brisket to serve 30 people easily. The only other ingredient cost is the rub and the marinade. So figure another $3 mainly for four cans of beef broth. The rest is cheap spices like garlic powder, onion powder and pepper. So for $63 I can serve 30 people for a little over $2 a person. The margin is insane. At least chicken is still reasonable at the super market. Grilled the boys 4 chicken quarters (Purdue) for $4 last night since it was comfortable enough to fire up the grill. Plenty to go around. Was delicious. The other bargain I’ve found lately is Beef Sabana De Res at Walmart for $6 pound. Marinate this stuff for 24 hours in any sugary, lime, oil marinade and you get incredible thin carne asada that grills in 5 minutes and is heavenly. Through a few corn tortillas on the grill and a few green onions and jalapenos and it will rock the socks off of any fajita you’ve ever had, even in Baja.
Also chi thanks on the compliment, right back at you, always appreciate your views….
don’t know who you were discussing options with but…
I’ve basically structured my available portfolio around 70:30 cash and market exposure now….market is nearly all synthetic through options, laddered…I have 3-6-9-12 month positions in a way where held to expiration would yield about 40% annualized and not sustain any losses (at expiration) until 10-20% down. Leveraged, for sure, but defined risk and the simple macro thought process is for any market performing better than 10-20% down I’ll net 12% on the entire portfolio (30% times 40%); for a bear market of 20% down the deltas work out to about a 33% loss on the positions so in a market bear case down 20% I’d see an overall loss on the total portfolio of 10% (30% time 33%) .
I like the asymmetry of the returns, the protection of a defined loss, the cushion for full gains even in a down market, and the fact (which is actually the goal) that I get a good market return while preserving substantial capital to deploy when we get the all clear signal. Taxes will suck but the cost of protection….
There is the go-to-hell scenario with a drop through 20% where I do no management and lose the entire 30% but that would be on me for piss poor management. And, frankly, it would have little difference than if I were sitting there fully invested.
IMO options were made for times like these….leveraged upside return with defined downside risk. And, inexplicably, vol (option pricing) in some spaces isn’t really expensive given the environment.
Hope the above makes sense….stream of consciousness typing….
In a study uploaded to a preprint server this week, but is yet to be peer-reviewed, researchers in the U.K. found that the airborne infectivity rate of COVID-19 declines over the first 20 minutes after it’s been released into the air. The research emphasizes that physical distancing and wearing masks are the strongest tools to prevent a COVID-19 infection.
Researchers studied the infectivity rate of COVID-19 over the course of 20 minutes and found a decrease almost immediately, with the virus losing infectivity by 50 to 60 percent within seconds of being released into the air and by the first two minutes the infectivity dropped further by 90 percent. After 10 minutes, only 10 percent of the virus remained infectious.
https://www.theguardian.com/world/2022/jan/11/covid-loses-90-of-ability-to-infect-within-five-minutes-in-air-study?CMP=Share_iOSApp_Other
Is Restaurant Depot still allowing non-businesses to shop there?
One of the most underrated cuts for braising (it’s impossible to find) is beef cheeks. I get them from a local farm in Hopewell. I’m seriously considering raising rabbits like my grandfather did in the depression. 2 rabbits can turn into 180 pounds of meat by the year. I already eat rabbit once every two weeks anyway.
Phoenix,
I had a professor at Montclair State who was going through a divorce driven mental breakdown. He was always off of his rocker, but the divorce really took him to another dimension. He taught English Literature (or something like that) and was a Gatsby freak. I swear that’s all we did in the class was discuss the Great Gatsby. Well one day, we come into class and his two daughters, one was maybe 12 and the other about nine. He makes us perform in a spelling bee against his kids to prove how stupid we are. Now I happened to be a very good speller back then and beat them handsomely (and was not terribly humble about it), but besides one female in the class, the rest of them lost. Remember, this is Montclair State we are talking about.
Well we had to right a term paper about the GG of course, but it couldn’t be only about the book. For example, how did the automobile influence F Scott Fitz’s writing and we had a defined list of books we had to use. I swear, I went to every library and bookstore in North Jersey and nearly all of them were gone. Of course, the prof wrote two of the five books. So I just grabbed a few other books that seemed similar enough and included them in the sources. I got an F on the term paper, which was the major driver of my 1.8 GPA first semester. D1ckhead didn’t give me the option to rewrite it. Remember. No Amazon back then. Just libraries, Walden’s and mom & pop bookstores for the most part. I didn’t even own a car. Admittedly, I waited for the last minute to find these books.
Look up Theodore Price in any professor review websites. You’ll see the craziest stories.
Oh well,
Guess if we handled the rest of it, why not Rabbit Covid?
Is there a wet market in Paterson?
BRT,
And I own it. It is what it is. The market isn’t rational in the short-term. Sure, it needed to correct, but by now, this swing down is just as bad as the swing up.
Am I not allowed to change my position? So I stopped DCA when it had massive fall. Even if I kept buying, it wouldn’t be the end of the world. Nothing wrong with DCA into a long-term position when the price is falling. I just got greedy and decided to try and wait for a bottom. What’s the big deal?
I don’t know if it will hold up, but right now, I saved a lot of money by pulling out the 401k. Three more weeks, and I can buy back in. So the 4k I lost on ark is nothing when I just saved a lot on the 401k. Remember, I have a ton of money locked in real estate. A large amount of money in the 401k. So ark is my hot sauce. It’s the risk in my investment process. The rest of the pie is pretty damn safe. It’s not like I have the 401k in ark funds.
I see a massive opportunity in disruptive tech over the next 20 years and I am going take my best shot at it. Simple as that. You can’t declare me a loser in year 1 of a long-term-strategy.
BRT, they sell cheek cheap at Walmart. I braised some to make tacos out of them. Too much bone to meat ratio and the flavor didn’t wow me. If I braise, it’s got to be lamb shanks or venison. Let me know if you find anyplace selling either of them reasonably. Venison is another meat which hipsters overpriced. I used to have friends who hunted and would give me endless cuts. Now it’s selling for like $12 to $15 a pound. For deer meat? They are friggin’ everywhere.
Pumps,
When the Nasdaq starts with a 9, it will be bad. We haven’t seen anything. So far, it’s mainly been the unprofitable stocks. Now it’s time for some of the value stocks to pull back.
If I had 30K a year to DCA into something, I would split it between Apple and Amazon and be done. Remember the turtles.
Lib,
Will look that up.
Honestly, I was okay with much of his rant. Except when you start doing messed up grading like your professor.
You don’t get to do that. You don’t get to ruin someone else’s future prospects.
And even if 100 percent in his classes vaccinated, they would most likely be carriers anyway still spreading. Not only that, but employers are concerned now about money, not health of their employees. I’m going out later tonight to say goodbye to more of my colleagues that have chosen to leave my place of employment. Young, talented, first rate kids that if I was a recruiter I would hire them in a minute.
My field is in complete crisis mode now. The biggest damage is not really in the work, but the treatment of employees in the field. It’s going to cause a long term rift going forward as many allegiances have been broken.
Starting Saturday, new federal rules will require private insurers to cover the at-home coronavirus tests that Americans buy in pharmacies and other stores. The new system could, in theory, allow millions of consumers to pick up tests at thousands of locations without spending any money.
The reality, at least in the short term, is likely to be messier: Some insurers say it will probably take weeks to fully set up the system the White House envisions.
The new process will be hard, the insurers say, because over-the-counter coronavirus tests are different from the doctor’s visits and hospital stays they typically cover.
The tests do not currently have the type of billing codes that insurers use to process claims. Health plans rarely process retail receipts; instead they’ve built systems for digital claims with preset formats and long-established billing codes.
Build back better. LOL!
Left,
Saw your post to Chi. It makes a lot of sense and I agree that options really do work well in an uncertain market like the current. I’ve been doing some research on them and different strategies after Chi made the index LEAPs suggestions. Also, made a sh1tload of sense here.
Right next door to the Belmont Tavern is a live market place. Old school. Got some rabbit there.
One of the benefits of having family in white-bread-whole-milk country is hunting season…have a teenage niece who shoots both bow and rifle. Limit one each, if she hits a deer in both seasons one is cleaned for me. Two for three so far. Tenderloin, of course, but the strips…mmmm.
$75 for entire animal (cost of butchering), fills an entire Yeti, two people to move. Plus a nice 16yo Scotch for her dad.
BRT, your posts today are giving me flashbacks to the Nompound…..
Some insurers say it will probably take weeks to fully set up the system the White House envisions.
Well, this is an excuse. They don’t want to pay.
Are they exempt from the deductible? That’s the bigger question. If you have a 1k deductible you are just paying for them anyway.
Fast Some of them are doing quite well, my own included, thankfully. Many are not . In your example, 800k for a house, and they lost out on it! Had they got it, that takes two incomes just to pay the monthly nut on to of everything else. Throw in rate rises and an eventual recession, and thongs will look quite different. Reckless monetary policies have destroyed and distorted this economy. The piper will have to be paid and the young people will pay him.
Fast Some of them are doing quite well, my own included, thankfully. Many are not . In your example, 800k for a house, and they lost out on it! Had they got it, that takes two incomes just to pay the monthly nut on to of everything else. Throw in rate rises and an eventual recession, and thongs will look quite different. Reckless monetary policies have destroyed and distorted this economy. The piper will have to be paid and the young people will pay him.
Left: Welcome back. You were missed!
He’s gotten worse.
https://www.ratemyprofessors.com/ShowRatings.jsp?tid=1384
Make America Great Again
https://www.dailymail.co.uk/news/article-10401351/Video-captures-thousands-damaged-packages-LA-train-tracks-left-cargo-looters.html
Haven’t been to Restaurant Depot in a while but you need to ask for a guest pass when you go there and do not have membership. There is one by me in Neptune. May make a trip this weekend as my spare freezer is nearly empty. They are on instacart too..No membership to Restaurant Depot needed to order via them and have it delivered, but I am too far for delivery anyway.
I prefer to pick out the food myself. Same with Shoprite pickup too. I’d rather pick the fruits, veggies and meats myself, just too many deliveries where I was not happy with what they picked.
I don’t buy much Costco meat, their ribs suck, the beef is mechanically tenderized and not all that great. Their ground beef is just ok. Chicken breasts just ok too. Prices not super great.
BTW there is a huge disparity in prices in the NorthEast vs the rest of the country..
and really between store you you go….
Average price for Chicken Breast here in Yankee country is like 4.99 lb elsewhere in the country it’s 2-3 lb. At Whole Paycheck it’s $7.99 a lb or higher…. Sure it’s organic and all. Shoprite has the bowl and basket brand chicken breast family pack for $2.49/lb.
Now I feel like grilling…I don’t care how cold out it is, once I fire up the charcoal it’s on!
One last one. Then back to work.
I see he still has an F Scott Fitzgerald crush. How’s this for a title of a book?
Back to Freud! Superb1tch! Alfred Hitchc0ck’s 50-Year Obsession with Jack the Ripper and the Eternal Prost1tute. A Psycho-analytic Interpretation by Theodore Price
Totally agree. Glad that we are on the same page with the overall market. Even though I was shaking doing it, hearing your position align with mine allowed me to pull the trigger on the 401k. Like we both know, it’s a dangerous game timing it, but you have to go with your gut when the signals are screaming at you. The market has to correct to grow from here. It went up way too much in a short amount of time. As we both know well, the market is irrational. This market can go off leaving us behind. You just never know, but I’m going with my gut….it’s going to fall for the time being.
Libturd says:
January 14, 2022 at 11:12 am
Pumps,
When the Nasdaq starts with a 9, it will be bad. We haven’t seen anything. So far, it’s mainly been the unprofitable stocks. Now it’s time for some of the value stocks to pull back.
Reporters didn’t notice the difference between an Epi Pen and Humira.
You think an Epi pen is expensive? Not even close to Humira. That box was valuable.
“Humira is covered by most insurance plans, but individual plans may vary in how much they cover. Insurance may be able to lower the out-of-pocket price of Humira from about $7,389 to approximately $5,000 per month.”
You could afford a nice house in Jersey for the price of that needle.
Not much guarantees in life, but this sure is one. I just want to take some risk to try and double or triple my money in the next 5-10 years. Smarter move is def using the strategy below.
Libturd says:
January 14, 2022 at 11:13 am
If I had 30K a year to DCA into something, I would split it between Apple and Amazon and be done. Remember the turtles.
Just checked some Restaurant Depot prices on instacart.
$3.29 / lb for Chicken Breast.
$3.49/ lb for regular ground beef – 4olb purchase…
NY strip is $13.89 / lb
Ungraded Strip is $9.69 /lb
Choice Ribeye is $17.29 /lb
Market works just like our federal tax system. LOL Everyone feeds off the northeast. We subsidize everything from their taxes to their food.
“BTW there is a huge disparity in prices in the NorthEast vs the rest of the country..
and really between store you you go….”
Keep in mind. Their high end steaks are nearly as good as Prime. In the case of ribeye, it’s sold unsliced so you can choose the thickness. Their quality is unmatched. Their beef ribs are incredible.
Pumps,
I don’t care what you do. Truth is, I’d rather people NOT take my advice since I would hate to be wrong. It’s why I don’t invest other’s money even though I’ve been asked to by countless friends and family. It’s why I run two different investment clubs. Rather teach people to fish than to make them a tuna sandwich. Which reminds me. Have to audit both club’s books this weekend. Fun stuff. Keeps our treasurers on their toes. Good luck. Just stop gambling.
My neighbor shoots 2 a year and gives me some. We constantly trade produce that we grow as well. I actually like taking the legs of the deer for chili. Fantastic.
Lamb shank is far superior for braising to everything IMO.
NY eviction ban is about to end Saturday. Gov Hochul has made clear that she plans to let the eviction moratorium expire and housing court will restart proceedings.
Going to be a huge mess in housing court there is supposedly 1/4 millon evictions backlogged.
Lib, I goggled Price to see if I had him.
Came across an obituary for PRICE Theodore Roosevelt who had of 72 grandchildren, 102 great-grandchildren, and 70 great-great-grandchildren. Not related, but man that family could reproduce.
I saw that too. Not the same one. He wasn’t a looker.
Dude has to be close to that age though.
I don’t think I had him, transferred from NJIT so maybe I lucked out.
Thanks, Lib. Appreciate you.
And believe it or not, trying not to gamble. That’s why I am using the ETF’s to invest in this disruptive innovation. Risky still, but not like picking individual stocks type level of risk.
It’s the bulk cuts at RD where you’ll save money. Whole filets, whole/uncut steaks, etc. When’s coming in a giant shrink wrap in a big waxboard box.
They occasionally have killer deals on seafood. We had a lobster roll party one weekend, just because it was so damn cheap.
3b, good to see you again too brother! Missed you guys!
Re: the RD prices above, some party is taking a DoorDash type skim…was there last week, checked out the chicken. Those Grade A boneless skinless breasts by the 40# box (breakable into 10# bags) were right at the 2.39 mark….noticed last year they move and the Shoprite B&B price stay on top of eachother…likely same supplier with both companies breaking the same volume price point.
Bang on grim…was there for the seafood. Can’t beat the whole filets or even the styrofoam salmon by the box. Fresh crabmeat, whole squid….nice selection, great prices.
I think i read somewhere a while back that chefs were trying to come up with all these lobster type dishes because of the price drop at one point.
And lefty, even though you hate my guts, good to see you back. I’m sure you missed your favorite troll.
Why does Pumpkin still obsess and constantly talk about a fund manager he’s already out of? It’s insane. I’ve worked in the investment field for 30 years and have worked with lots of dumb people, and heard from brokers about lots of dumb clients, but Pumpkin is elite in terms of noisy+ignorant. I remember that one week that Pumpkin promised to leave forever. Another broken promise from him now forgotten.
Costco: I still haven’t bought a grill or smoker. Honestly one large dry aged ribeye is enough for two to dine on. My SIL cursed my wife with a Christmas gift of a Vorwerk Thermomix and now she’s wrapped up in making stuff in that.
If I get a Weber genesis grill, would I be able to smoke brisket in that successfully or is that something you really need a dedicated smoker for? Is there a compromise grill/smoker that works?
I like the taste of charred meat much more than stewed. Too bad about the carcinogens.
Lib it the expert, but I picked up a KAMADO Joe from HD a couple of years ago and it does everything i need, low and slow, burgers, steaks, 600+ for pizza and searing. I had a weber and a small electric smoker before.
No one,
You have never invested in an era like this before. The massive amount of change that is upon us hasn’t been seen for over a 100 years. Life is going to be totally different in 10 years. Won’t even recognize it. That’s why I’m down with Cathie, we both believe and understand the same thing….massive disruptive change is upon us the likes of which no one that is alive right now has ever seen in their life. So call it stupid or whatever you want to say, just because you don’t believe in it, doesn’t mean it’s not happening.
I just saw a video with indy race cars racing at full speed with no driver. John Deere just started offering an autonomous tractor. The age of automation is upon us. DNA sequencing is going to totally change your life. For god’s sake, they just developed a heart transplant from an engineered pig. Wake up, massive change of the likes you have never seen before is just getting started.
10 years from now, the cell phone will prob be on the road to extinction if it has not already gone extinct.
Cars are going to become moving computers (yes, apple is coming). So much change is upon us. It’s hard to take it all in.
This generation is growing up hanging out on a digital platform. Watch it first hand with my daughter. A whole group of friends engaging and playing in a digital platform known as Roblox. They are so much different than us. We grew up in an age without computers. Didn’t even have a cordless phone when you were kids. Hell, didn’t even have call waiting for most of my early childhood.
You don’t need to come up with a dish for lobster. That’s the beauty of it.
So that’s why I love Cathie and respect her. She is 66, yet somehow understands this disruptive innovation better than 99.9% of the world. Why wouldn’t I want to invest with her on a topic she knows better than 99.9% of the population? Who’s better at investing into these trends better than her? I know of no one.
That’s her gift. She understands it at such a high level and is able to paint the picture of what is happening to the avg joe. Not many people can get others to understand what is coming, but she does a hell of a job with it.
qxUMwVNmCJuZn
No One: when I went on my clumsy riff about cash alternatives last week, I invoked left as a more expert source on risk guardrailed solutions. He just gave a brain dump earlier in this thread…. left’s analysis is buy-sell so you can use the spot market to capture premium as much pay up. I was trying to be very vanilla, but he provides the proper perspective in terms of greater definition, control and cost.
No One says:
January 14, 2022 at 1:22 pm
Why does Pumpkin still obsess and constantly talk about a fund manager he’s already out of? It’s insane. I’ve worked in the investment field for 30 years and have worked with lots of dumb people, and heard from brokers about lots of dumb clients, but Pumpkin is elite in terms of noisy+ignorant. I remember that one week that Pumpkin promised to leave forever. Another broken promise from him now forgotten.
Costco: I still haven’t bought a grill or smoker. Honestly one large dry aged ribeye is enough for two to dine on. My SIL cursed my wife with a Christmas gift of a Vorwerk Thermomix and now she’s wrapped up in making stuff in that.
If I get a Weber genesis grill, would I be able to smoke brisket in that successfully or is that something you really need a dedicated smoker for? Is there a compromise grill/smoker that works?
I like the taste of charred meat much more than stewed. Too bad about the carcinogens.
Pumps: go teach a class….. WTF are you doing?
KAMADO’s are great and you can smoke brisket in them just fine. Just will have to do a bit more manual work. You can’t smoke meat in a Weber Grill. You can make it taste slightly smoky at best.
Haha, please don’t ‘expert’ me on these things…you two guys have much more experience and certainly education in personal finances than I do….I’m kind of like the builder who learned by doing over a few decades….I know what I know, know what I don’t, and have a missing fingertip or two from the lessons…
If I have a strength it’s maniacal alignment…clearly define the goal and the parameters (risk tolerance, timeline, liquidity, etc) for the market in front of me and then structure precisely to those standards while both maintaining discipline and flexibility. Basically what you guys have been doing for clients for your careers…
An lol for you guys, around Halloween I contemplated for a second just taking it all and writing a fcukton of puts 60+% down on a handful of GARPs expiring 1/2023 to yield an 8% return and call it a day…if it wouldn’t have put me in the Waiting Room of Margin Call Hell…ha!
Crudes at $84 and ten is at $1.77. Lets see if it moves up from here. Fridays with headwinds tend to see drops at the close.
Bergen sheriff sale was a circus today. About a dozen scheduled sales. They made everyone fill out contact tracing forms and double mask. Room was packed with over 150 people. I was there to bid $1.05 million for a house in Saddle River that I valued at 1.775. A rather conservative bid but it is a high value asset and a lot of eggs in one basket. Long story short, sold for $1,610,000. House is occupied by former owner. Wouldn’t exactly call it a bargain.
You know, Bill and Hillary should run together against Trump.
You will be able to tell the Clinton’s seriousness by tracking the donations to their foundation.
We could call it Re-election 2024
330 million people and we couldn’t even find two new candidates to run this shit show.
Left,
I actually pay nearly no attention to personal finance details. Last time I spent much time thinking about personal finance was when I was finishing the CFA Level 3 exam decades ago. I don’t deal with private clients in my work. Other than double check my asset allocation every year or two, and occasionally re-allocate, I’m quite passive. That’s partly on purpose, I’m managing big institutional money and I don’t want distractions or conflicts of interests, so I hardly even think about my own finances while I’m working.
My big problem is that 75% of my net worth and my cash flows come from an illiquid investment in an organization that manages money, which has a greater than 1 beta to global equity markets, but which could have its own idiosyncratic risks as well. I think it’s probably too costly to hedge against big disasters.
I haven’t even looked at option chains in 20 years. How much to protect $10m in a global equity index from falling more than 10% or 20% over the next 1 or 2 years? I guess it’s simply buying an out of the money put, which almost every year will expire worthless. Except maybe not this year or next year.
In general I’ve got lots of excess cash and a couple of homes, and haven’t seen much else in terms of asset classes that look like they would generate much future return.
No One: I love this idea. The more vanilla, the cheaper it is going to be.
What does compliance allow? You should be able to use an institutional platform to get efficient pricing. Some of your colleagues must be thinking along the same lines, or is such a practice considered sacrilegious?
No One says:
January 14, 2022 at 4:32 pm
I haven’t even looked at option chains in 20 years. How much to protect $10m in a global equity index from falling more than 10% or 20% over the next 1 or 2 years? I guess it’s simply buying an out of the money put, which almost every year will expire worthless. Except maybe not this year or next year.
For Eddie:
Homeless, no money, nothing to lose. The most dangerous type.
https://www.dailymail.co.uk/news/article-10403325/Police-arrest-suspected-gunman-cold-blooded-killing-Burger-King-worker-19.html
To reiterate the goal of “more vanilla”: in these high margin parts of the market, the greater trading volume more than compensates you for the imperfect hedge in the spot market and dynamically. Just to receive some compensation is really the point. But you know this…..
Gotcha. Did not know you were running institutional money.
Illiquid organization also your workplace? Don’t need to lecture you there on concentration and, yeah, no real good way to hedge…..other than the high level diversification you already have. Presuming your personal allocation is not international bank heavy ;)
“$ARKK has gone from 33X Forward Sales in 2021 to 9X forward Sales now. I KNEW IT that ARK was a Value Fund ! Nice stats @michaelbatnick .”
https://twitter.com/dilksjay/status/1482103787858890753?s=21
Left, Chi,
You guys pretty much get it.
Expiring options generate capital losses but I don’t actually have capital gains to offset. I could carry them forward though. But if the hedges actually work soon I get hit with short term capital gains with nothing to offset them. I could ask my accountant if it’s done within a holding co rather than in a personal account whether that changes the tax implications.
Maybe I should diversify into CR real estate.
Friday night special for a lot of people on this blog, esp you BRT.
https://twitter.com/joerogan/status/1481832468651122689?s=21
Everyone wishes they’d bought BTC at $10 in 2011, since it’s now up 4200x
-But who would have held on when it hit $2.20 six months later?
-Who would have continued to hold when it hit $1k in 2013, up 100x in 2 yrs?
-Who wouldn’t have sold by 2015, when price fell 90% from highs?
https://twitter.com/yassineark/status/1482122197711872009?s=21
Many cardiologists are saying the myocarditis from Covid is much milder and in no way equivalent to that caused by the vaccine. This is evidenced by 84% of vaccine induced myocarditis requiring hospitalization, unlike that in covid.
https://www.youtube.com/watch?v=lxfcP8wwt58
Moreover, they don’t even know the rate of myocarditis in kids below age 12 for the vaccine. They know it for 12 to 17. The trial was not large enough to capture that info. That being said, my father has approx 400 kids in his practice. He had to treat 2 with myocarditis in the last month. If the rates were similar, there’s basically a 10% chance of him getting two kids with myocarditis. Keep in mind, they are only getting vaccinated now so he could see more. Not a good sign. Like I said, my kids ain’t no guinea pigs. Especially when they’ve already had covid and especially that all of our immunities have held up vs. Delta/Omicron. And we’ve been everywhere maskless. My son was even in a house with 4 omicron people two weeks ago for 3 hours.
How do you get those? Is a donation required, or is it just a pretense?
leftwing says:
January 14, 2022 at 10:43 am
Have my tickets and Statler reservation for the 29th since last fall, hope that goes forward or at the very least please move in my cancellation window for the room so I don’t get tagged with a room in Jan in Ithaca, ha
Harvard if that is not clear.
Passaic on fire.
Lmao
“The generation who dropped nukes in the ocean for giggles wants to tell you about the environmental impact of bitcoin.”
At this stage, it seems as though the risk is in being long the indices.
Most growth stocks have already been smashed by ~50-70% and by and large, their valuations have already deflated significantly.
As economy weakens in Q1, growth stocks might bottom before the indices.
When the effects of fiscal and monetary stimulus fade, the economy will slow and inflation will roll over.
At that point, the secular compounders which are growing rapidly will come back into vogue. Remember, over the long run, business growth = investor returns.
At present…
…most of the high growth stocks are unprofitable but that is by design. They are spending heavily and investing for future growth, so they can generate even more profits in the future.
Ecommerce, payments, software are modern-day utilities on steroids…not going anywhere.
https://twitter.com/saxena_puru/status/1482097461712003072?s=21
Manage to earn more than $ 10,000. You can also purchase wallets through exchanges on the Internet. The money will go 100% to your e-wallet or card.
http://go.swearestleads2.online/sl?id=5f5f82be1a6e4b187922520a&pid=749
That was some volcanic explosion yesterday in the South Pacific by Tonga. They are expecting 1-2 ft Tsunami waves in California in about an hour from now.
“The generation who dropped nukes in the ocean for giggles wants to tell you about the environmental impact of bitcoin.”
now do global warming
New Jersey and You too expensive to get high together. 500% more expensive for Medical Pot in NJ.
“Patient advocates filed complaints with the state Division of Consumer Affairs earlier this month to accuse medicinal marijuana operators of price-gouging, charging as much as $480 for an ounce of cannabis.
A state investigator replied promptly to say there was no legal recourse.
“The Division has reviewed the materials you submitted. We thank you for letting us know about this matter. Unfortunately New Jersey is not a price regulated state,”
They’ve been complaining about the price the program’s 121,000 patients pay for medicine since the first dispensary opened a decade ago.
In his complaint to Consumer Affairs, Goldstein compared Curaleaf’s prices in New Jersey and Maine.
“Curaleaf has a facility in Ellsworth, Maine and menu prices for medical cannabis are two to three times less expensive than New Jersey. A variety of ounces can be purchased for $75-$115,” Goldstein’s complaint said.
https://www.nj.com/marijuana/2022/01/price-gouging-complaint-highlights-stubbornly-high-costs-for-medical-marijuana-in-nj.html
Juice,
Goes good with this. Jersey close to last in every category.
https://www.dailymail.co.uk/news/article-10404543/America-nanny-state-Freedoms-dwindled-past-20-years-federal-encroachment.html
Juice,
The prices are reasonable when you consider the amount of they payoffs they had to make in order to be “selected.”
Radical Capitalism, hard at work, doing it’s thing in America.
Karenous Plasticitus
https://www.reddit.com/r/PublicFreakout/comments/s45ink/she_made_eye_contact_with_the_transit_cop_then/
Lib,
I didn’t know you knew Spanish this well:
https://www.reddit.com/r/PublicFreakout/comments/s454yu/mexican_tv_host_loses_it_calls_all_antivaxxers/
That’s Mexico’s Dr. Fauci.
“Remember, over the long run, business growth = investor returns”
Wrong. EPS growth = investor returns.
I can name you 10 businesses that grew into a household name through spending every dollar they made back into the business, but never focused on earnings. Any business can waste all of their money into marketing and sales. It’s margin that matters. Stock price always follows eps growth.
Shutterstock is a great example. For the first time ever, though huge growth in size and sales, no stock growth until recently when they finally achieved EPS. Uber. Air BNB. These are all major disruptors. No EPS. No stock growth.
New cases way down.
14,692
Creepy Biden montage . . .
This is worse than I’ve seen before of his unwanted touching of women and children. I’m surprised his staffers and whatnot haven’t shut this down after one or two incidents. The kids always look really uncomfortable, understandably.
This was linked on the top page of reddit just now.
https://www.youtube.com/watch?v=BMsi1GGjy1Q
Rules are for thee but not me. She appears to be in a higher risk group than AOC
https://www.dailymail.co.uk/news/article-10406773/NY-Sen-Gillibrand-promises-better-shes-caught-maskless-Innovo-Kitchen-restaurant.html#article-10406773
HMB,
Do you think for one minute a female is any more trustworthy than a male? Or even have higher morals?
“This research found that while both women and men have more favorable views of women, women’s in-group biases were 4.5 times stronger[5] than those of men. And only women (not men) showed cognitive balance among in-group bias, identity, and self-esteem, revealing that men lack a mechanism that bolsters automatic preference for their own gender.”
https://en.wikipedia.org/wiki/Women-are-wonderful_effect
Sorry Pumpy
https://www.washingtonpost.com/business/2022/01/15/remote-work-omicron/
Phoenix
I was going more for hypocrite liberal angle. Warning about COVID and wanting mask mandates while ignoring the signs at a private business and not wearing a mask.
How many years have you been reading stories about how females are paid so much less then men are?
https://dailyvoice.com/new-jersey/morris/business/teen-tiktoker-is-outearning-top-ceos-by-millions/824027/
HMB,
I get it.
There is no place in America that you won’t find a hypocrite anymore it seems.
It’s all about marketing. More snake oil salesmen/saleswomen around now more than anytime in history.
This kid is making millions.
Yet America thinks Tik Tok is a joke.
Looks like it’s real money, not crypto…
Left: The ECAC is super top heavy. The top 4 and the rest is a mountain of sh!t.
This chick has nerves of steel. Got to give credit where credit is due.
https://youtu.be/onRr30YYblU
Doing some blog maintenance, hopefully I can fix some of the spam block issues.
Study: US is an oligarchy, not a democracy
Multivariate analysis indicates that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence.
In English: the wealthy few move policy, while the average American has little power.
The two professors came to this conclusion after reviewing answers to 1,779 survey questions asked between 1981 and 2002 on public policy issues. They broke the responses down by income level, and then determined how often certain income levels and organised interest groups saw their policy preferences enacted.
“A proposed policy change with low support among economically elite Americans (one-out-of-five in favour) is adopted only about 18% of the time,” they write, “while a proposed change with high support (four-out-of-five in favour) is adopted about 45% of the time.”
On the other hand:
When a majority of citizens disagrees with economic elites and/or with organised interests, they generally lose. Moreover, because of the strong status quo bias built into the US political system, even when fairly large majorities of Americans favour policy change, they generally do not get it.
They conclude:
Americans do enjoy many features central to democratic governance, such as regular elections, freedom of speech and association and a widespread (if still contested) franchise. But we believe that if policymaking is dominated by powerful business organisations and a small number of affluent Americans, then America’s claims to being a democratic society are seriously threatened.
Eric Zuess, writing in Counterpunch, isn’t surprised by the survey’s results.
“American democracy is a sham, no matter how much it’s pumped by the oligarchs who run the country (and who control the nation’s “news” media),” he writes. “The US, in other words, is basically similar to Russia or most other dubious ‘electoral’ ‘democratic’ countries. We weren’t formerly, but we clearly are now.”
This is the “Duh Report”, says Death and Taxes magazine’s Robyn Pennacchia. Maybe, she writes, Americans should just accept their fate.
“Perhaps we ought to suck it up, admit we have a classist society and do like England where we have a House of Lords and a House of Commoners,” she writes, “instead of pretending as though we all have some kind of equal opportunity here.”
https://www.bbc.com/news/blogs-echochambers-27074746
5:59 how does that compare to spewing lies and misinformation to hundreds of thousands of mentally challenged Garys undermining democracy for the mentally challenged???
Ok fixed a bunch of things and getting stuck in the spam or blacklist filters should be far less common now.
Trump still peddling lies and misinformation to the “GaRy’s” of the Country.
Sad. Truly pathetic to see this douchebag get any people dumb or desperate enough to buy his story.
Ex,
Religious nuts, dangerous ‘man baby’ militia men hell bent on killing liberals plus rich tax avoiders..the Trump base. Little Charles Bronson gets pat on back for helping police while Orange dope says stuff like this. Q party has lost its mind..my cat chasing its tail has more logic than red hat dolts.
Former President Donald Trump called the Capitol Police officer who shot and killed Ashli Babbitt during the January 6 riot at the US Capitol a “disgrace” and claimed the FBI was behind the insurrection.
Good for a laugh. Wouldn’t work in America, however.
https://youtu.be/pHJLqrO3P4g
Phoenix
They’d have to include a trigger warning with directions to a safe space viewers could go to afterwards.
Phoenix
Two announcers got fired in Maine over this.
https://www.dailymail.co.uk/news/article-10408023/High-School-basketball-announcers-fired-calling-two-girls-extremely-overweight-hot-mic.html#article-10408023
Dark mode option has been made available.
This should auto-detect, meaning if your device uses dark modes at night, the site will render in dark mode. Otherwise you can toggle using the moon icon in the corner.
Don’t remember who asked for this, but you got it now.
It was me.
Awesome. Fits my personality.
You deserved to get your tire slashed Bystander.
Wow, and these numbers were from years ago. I remember this swindler. He got only 8 years, while George Floyd got a death sentence.
https://youtu.be/Ws9PGROHZzg?t=1276
Truth hurts f*ckstone…
Did you have fun buying a new tire you dirty little cunt?
Like dark mode.
Missing some great football today iiffn’ ur boycotting the league like so many claim to do.