From NJ1015:
GOP plan for ‘once-in-a-lifetime opportunity’ to cut NJ taxes
Assembly Republicans want to cut income taxes as part of the new state budget, part of a four-pronged plan for responding to an unprecedented surge in state revenues and surplus.
Assembly Minority Leader John DiMaio, R-Warren, said the tax brackets haven’t been adjusted in nearly a quarter-century – and that given inflation rates and the state’s multi-billion surplus, now is the time.
“It’s going to give long-term, sustainable relief to many, many New Jerseyans, particularly those on the lower end of the scale,” DiMaio said.
Taxes would be reduced on income under $128,455 for a single taxpayer and $256,910 for a married couple. Savings would amount to $1,600 for a married couple earning $110,000 or $1,000 for a single taxpayer with income of $70,000, DiMaio said.
The 1.75% tax bracket that currently starts at $20,000 of income for a single-filer taxpayer would be applied starting at $34,255, according to the proposal. The 3.5% rate would start at $59,946, rather than $35,000; the 5.525% rate at $68,510, rather than $40,000; and the 6.37% rate at $128,455, rather than $75,000.
For married couples filing jointly, all those income thresholds are doubled. The plan also eliminates a 2.45% bracket that currently applies to married couples on their income between $50,000 and $70,000, described by critics as a marriage penalty in the tax code.
Frist.
Got nuthin’ else.
“51 days Pumpkin-free”
Got to sit in on Microsoft’s new pitch around Mesh and the Industrial Metaverse.
It’s interesting, but they are trying to take credit for a long history in industrial automation, PLCs, PIDs, HMIs, SCADA and the like. Their stories about digital twins seem a bit far fetched, a “solution” looking for a problem (which in this case has already been solved).
There is little market for their required $4,000 Hololens headsets, to put it in context, what Meta is doing with $249 Quest 2 headsets is equally as compelling, and far more accessible. Teams in Mesh requires the headset to even be able to communicate and participate, there is no “flat” option for someone that opts to go that route. What both are doing that’s really smart – is using cameras to monitor your hands, to eliminate any need for handheld controllers, likewise using gyros, accelerometers, etc – to eliminate the need for beacons to track positioning.
VR/AR have legs as a usable technology, and shouldn’t be lumped together as part of some buzzword riddled web experiment.
Cue the Unintended Consequences. From Bloomberg:
Effective Zoning Reform Isn’t as Simple as It Seems
The Biden Administration’s Housing Supply Action Plan, unveiled last week, aims to help close America’s shortfall of almost 4 million housing units and subdue the nation’s skyrocketing home prices. At the top of its list of action items is a promise to provide federal grants as a reward to communities that alter land-use policies to promote density, an approach the administration is already piloting.
But identifying the land-use policies that most effectively add housing is harder than it seems. Mounting evidence indicates that one-off reforms such as eliminating single-family-only zoning aren’t adequate. To make meaningful progress in building homes, municipalities have to do more.
The Biden plan doesn’t detail how it will determine which types of policies will make a community eligible for these federal grants. But to meet the administration’s housing goals, we recommend it require that local governments seeking grants both show that their zoning changes are actually producing additional housing units, and also that their reforms include the full array of land-use policies that affect housing affordability.
The requirements for these zoning reforms must be tailored to different jurisdictions’ unique circumstances, because a one-size-fits-all strategy won’t be effective or equitable.
…
The most popular land-use reform strategy now discussed is changing zoning rules to allow for the construction of small-scale apartments. That’s a good step forward — but it will not increase access to housing unless those units get built.
I can think of nearly nothing less ‘democratic’, more fraught with downside, and more detrimental to one’s financial, physical, and mental well being than removing the most basic of community functions – who are we and what do we want to be – from the actual members of that community and granting those decisions to mid-level bureaucrats hundreds if not thousands of miles away whose only demonstrable skill in absentee local governance over the past five decades is a continuous series of dubious costly social engineering failures.
Decisions such as zoning are the essence, the actual definition, of community.
“The requirements for these zoning reforms must be tailored to different jurisdictions’ unique circumstances, because a one-size-fits-all strategy won’t be effective or equitable.”
Entirely agree.
So isn’t that quote from the article above the exact reason why local zoning should not be the provenance of the Federal government?
How twisted does one’s logic need to be to posit that these decisions are local and unique, so therefore the national government should be involved? McFly?
Who the hell is writing for Bloomberg these days? Oberlin undergrads?
3/5 on comment count. Too much coffee and hitting the road for an early start to the long weekend. Enjoy All.
2 grim
3 left
Looks like high value to me.
51 Days comment free!!
I disagree strongly with the idea that, for example, eliminating single-family zoning will not reduce housing prices.
If a metro area or municipality doesn’t have sufficient housing demand for a developer to build a multi on what is currently a single-family property, then that is an intelligent sign that more housing should not be built on that lot.
Leftwing – from the article, it seems that the federal government is providing grant money in exchange for liberalized zoning. This policy is as bad as the federal government DICTATING a particular zoning. Under this policy, if a municipality is willing to provide for certain zoning provisions, then it will receive grant money. Biggest problem with this approach is twofold: (1) moral hazard – every municipality should tighten zoning up and only loosen to the minimum necessary to get the grant money, or the zoning might have been looser but the municipality won’t let loose zoning stand without federal grant money; (2) the actual problem might be that while the zoning allows “by right” a four-family, that doesn’t mean that a developer doesn’t still need “bulk variances” to reduce how much set-back, lot coverage, etc. so the bulk variance issues might be where the real impediment is.
^ meant to type “This policy is NOT* as bad . . . “
How to buy a losing stock while using due diligence.
https://youtu.be/KbVM0a1R6Sk?t=550
Geez, it seems like every new Dem policy is to do everything in their power to make sure poor people will continue to vote blue. Stop effing with housing and prices WILL come down on their own. Government shenanigans (low interest rates) is what caused the high prices in the first place. Want to make housing prices come down? Force 20% down. Of course, that won’t get you many votes.
33 people shot, 5 dead last weekend in Chicago. Which proposal/law will lessen these crimes?
True, if this is the case. But sometimes a municipality has the demand, just doesn’t want the “riff raff” or more kids in their school systems.
“If a metro area or municipality doesn’t have sufficient housing demand for a developer to build a multi on what is currently a single-family property, then that is an intelligent sign that more housing should not be built on that lot.”
Phoenix at 9:04 . . .
Right, I was referring to a scenario where the zoning permits a multi, but a developer doesn’t build a multi.
Libturd at 9:03 . . .
The government messing with housing is huge on the zoning side. In a lot of the country, the zoning is tight and development is not welcomed. Only a few areas that have a growth mentality (welcoming development) – Florida, Texas, Georgia, some parts of the Carolinas, Vegas, Phoenix, etc.
Imagine if the government let you do what you want with your property in Montclair – it’d be 10 stories tall. At a minimum, you’d build an extra multi in the backyard.
Lib; Fed rate hikes already kicking in on housing, big decline in pending sales. Fed should just bank our some 1 point increases and get it done. Painful? Yes, but better than Powell dragging his feet like he did last summer with his transitory nonsense.
Crushed,
Montclair is pro-growth at any cost. Lots of people are putting in a second home behind their multi, usually demolishing their separate garage and building another single unit in its place. There are two doing it on Oxford now. Montclair’s massive growth has paid down a lot of the formerly enormous town debt. The problem is, it has brought on a lot of other problems. Parking, which used to be a problem is now a complete nightmare. We don’t order from any places in town anymore. It’s too difficult to even do takeout. You must drop off a pickup person and pick them up. Or you could park ten minutes away and pay $4 and go home with cold food. The additional population has also put strains on the fire department and the sewers. The town has to upgrade almost their entire system to meet the new demand. The sewer bill at my multi is now $1,000 a year! Personally, I don’t really have an opinion either way. People have to live somewhere. I have watched North Jersey slowly morph into Brooklyn. With all the traffic, litter and decline in quality of life. Go walk through Jersey Gardens. It won’t be long before Willowbrook resembles it.
re: National Plan and a shortfall of almost 4 million housing units?
4 Million that’s all? California says they need 3.5 million new housing units alone. So what is the real number 50 million housing units perhaps? Take a good look at California. California Politicians were selling their plan to strip local board of their zoning regs and allow up-zoning of any single family property near transit. They were selling it as a way to be green and get the cars off the road, as well as being equitable and whatever else they can toss in there.
It failed passing by three votes two years ago. They also still have Proposition 13 to require a 2/3rds vote to raise property taxes etc.
https://archive.curbed.com/2020/2/7/21125100/sb-50-california-bill-fail
How is any National Plan going to change things? Tossing money at towns never seems to do much just take a look at where all that Covid money is now going. $15 millon to try and lure World Cup to New Jersey. Governor Murphy wants to control the additional 3 Billon not spent either. I doubt little will go to stockpiling PPE, ventilators and perhaps beef up testing capacity permanently for the next pandemic. Whatever money they send down from Washington won’t be spent on infrastructure it will go to creating more cronyism and government jobs.
I have watched North Jersey slowly morph into Brooklyn. With all the traffic, litter and decline in quality of life. Go walk through Jersey Gardens. It won’t be long before Willowbrook resembles it.
Rentl0rd wants to know why I’m considering moving out of Jersey when I never would have given it a 2nd thought a decade ago.
“Tossing money at towns never seems to do much”
Sure it does. If you are one of those “connected” and get a hit of that cash.
It goes to someone…
I’d bet that Montclair will be the first town in NJ to permit basement rentals (ala Toronto). You’ll see overnight parking rescinded at the same time.
Two families become 3 and the price skyrockets due to the new income component.
grim says:
May 25, 2022 at 6:23 am
“The Biden Administration’s Housing Supply Action Plan…aims to help close America’s shortfall…At the top of its list is a promise to provide federal grants…”
Yet another boondoggle in the making — Fed govt handing out money that it doesn’t have. But seems a perfect opportunity for blue states/municipalities to add to their vote-buying slush funds. Instead, why not start by extending and expanding T’s opportunity zone program, which seems to have been moderately successful, given it’s limited scope. Instead of govs spending money they don’t have, encourage private investment in otherwise un-investable areas.
The simplest way to lower housing costs is to build more housing.
Just like businesses that hate competition, homeowners will go through all sorts of mental gymnastics to justify building restrictions/zoning (we want to preserve the character of our neighborhood!), when it all comes down to protecting their property values.
You got yours- screw everbody else!
grim,
As far as I can recall, every attempt to create a mass market in technology that has to be put over your eyes has underperformed expectations.
3D was tried in three different waves, 60s, 80s, and 2000s. Every time it failed, and I think it’s because people didn’t like wearing the glasses.
VR goggles have been contained as a fairly small niche. There are enthusiasts but only a fraction of people really use/care.
Google glass failed to take off.
I can see it working for specific niches, but even people who need to wear their optical glasses often don’t do it.
For glasses-wearers like me, this stuff is a hassle usually. And people not used to glasses don’t like wearing glasses.
The 3d glasses that worked with the SEGA Master system in 1987 were really cool. They used a shutter system to close the left and right lens rapidly to create a 3D effect. The video game would flicker two different views that synced with the shutter system to create the 3d perspective. And it worked really well. But the glasses were uncomfortable and anyone watching the game without the glasses would just see a blurry flickering screen. Still, the technology was way ahead of it’s time. The 3d was still the best I’ve ever seen outside of a special 3d show I saw recently at the Liberty Science Center.
“The simplest way to lower housing costs is to build more housing.”
True, but homeowership is the way to go. That’s where pride comes in.
Building more for corporations to own isn’t such a great thing. Or this:
https://youtu.be/2hekDuCBxCc?t=139
Everyone can park on their front lawns!! Or, concrete them over and no more lawns save water and no fertilizer.
Lib, the ps4 goggles were decent, but turned out to be a short lived novelty. Pretty good for that time, but some games got me nauseous within 5 to 10 minutes. Newer tech is supposed to reduce that.
I have a big screen with a 3d projector but only rarely used the 3d feature, to show off some gimmicky movies.
Some day with ultralight glasses somehow sporting dual 4k 120hz panels, and the computational power to drive them, vr/ar could become a lot more fun. But that sounds like at least another 10 years away with Moore’s law working.
Never underestimate the desire of the human population to want to exist in a reality that’s different from their own.
“The simplest way to lower housing costs is to build more housing”
..or how about the lowering the amount you can borrow through GSEs by 40%, instead of upping it all time.
Right, just ruin it all with “anything goes” mentality. You are so selfish. Protecting property values??? It’s called protecting quality of life.
Property values go up when you increase the amount of people per property. Quality of life goes to chit.
You have to have planned building, you can’t have a free for all or it will end badly. There needs to be a thought out master plan for each community.
OC1 says:
May 25, 2022 at 10:32 am
The simplest way to lower housing costs is to build more housing.
Just like businesses that hate competition, homeowners will go through all sorts of mental gymnastics to justify building restrictions/zoning (we want to preserve the character of our neighborhood!), when it all comes down to protecting their property values.
You got yours- screw everbody else!
If you FED raised rates, what difference does it make for making housing affordable?
If the FED tightened loans and made them harder to come by, what difference does it make for making housing affordable?
It’s a capitalistic based market. No matter what you do with the inputs for said conditions, it’s always going to be unaffordable for a segment of the market. Only way you making housing affordable affordable for all in a capitalistic market is by getting rid of capitalism and giving everyone the same pos house. Yea, sign me up for that. I much rather work hard, and beat out others for said property that I desire.
Bystander says:
May 25, 2022 at 11:25 am
“The simplest way to lower housing costs is to build more housing”
..or how about the lowering the amount you can borrow through GSEs by 40%, instead of upping it all time.
I wonder if there is a way to find the affordable housing law unconstitutional. Why does the govt have the right to impact my freedom to live in the community that I desire? How can they force a community to have housing that it does not want? I don’t get it. Building a 4 story condo next to my house to meet affordable housing obligations are a joke…how is that not impacting my personal rights? I bought said house knowing the zoning only allowed for single family, how can you just force me to abandon said zoning requirements?
“You have to have planned building, you can’t have a free for all or it will end badly. There needs to be a thought out master plan for each community.”
“It’s a capitalistic based market.”
Yes that’s the essense of capitalism- having neighborhood committees determine what people can do with their property!
Never underestimate the desire of the human population to want to exist in a reality that’s different from their own.
I’ll take “The Democrat Party” for $1000, Alex.
And there are only two choices when when it comes to zoning- the zoning that exists in your town right now, and total uncontrolled development.
Chemical plants next to the grammar school! Slaughterouses next to single family homes! Dogs and cats, living together!
Well,
Looks like Murphy found a way to spend some of that “extra” money other than paying down part of the 200B debt.
OVERTIME!!!!! CHA CHing!!
While there are no credible threats, New Jersey OAG has directed law enforcement to increase their presence at schools throughout New Jersey effective immediately.
Alex, is dead.
Adding one or two additional units to most residential only areas is a responsible thing to do and it wont change the character or quality of the neighboorhood much (especially if its a normal middle class township) while the value add to both existing homeowner and community is material. If you decide that you want to finish your basement and rent it out you shouldn’t need your neighboors persmission to do so.
There are many areas in NYC where only a 2fam house can be build/converted but not 3fam. There are areas where you can build/covert a 3fam but not a 4fam. How many people really believe that going from a 2fam to a 3fam will ruin everything?
Not talking about adding 100 unit govt housing building next to your house; just adding from one to two units will lower the trajectory of the increase in housing prices and stabilize this asset class for decades; thsi wil force investors from small to medium size, as well as the BlackRock types, to move their focus to something else and leave housing alone.
Americans make up about 4.4% of the global population but we own 42% of the world’s guns. From 1966 to 2012, 31% of the gunmen in mass shootings globally were Americans. When you adjust for population, and include only countries with more than 10 million citizens, only one country in the world had a higher rate of mass shootings during that time than us: Yemen. Yemen also had the second-highest rate of gun ownership after the United States.
In a couple more years, a second world country like Costa Rica, is likely to have a lower homicide rate than the United States. And the solution from the left and right is either, background checks or purchase more guns.
Heck of a government we have here.
Playing devil’s advocate. If you eliminate guns, what’s to stop someone from murdering people in a much more painful way. Talking chemical warfare, to running people over with cars, to modifying a baseball bat with all razors and going to work.
The problem is people. There are sick individuals walking amongst us.
Costa Rica probably doesn’t have this problem because their population is much too poor to stay inside all day glued to a screen reading social media echo chambers. Poor people in Costa Rica go outside, hang with people, and therefore are generally happy.
Wait till WFH creates even more isolated depressed angry people….
Libturd says:
May 25, 2022 at 12:35 pm
In a couple more years, a second world country like Costa Rica, is likely to have a lower homicide rate than the United States. And the solution from the left and right is either, background checks or purchase more guns.
Heck of a government we have here.
Where did you grow up? I grew up in Clifton. You know what happens when you start allowing people to rent out basements….no parking. It’s bad enough as it is, esp during snow storms. Get real.
You want to build high, keep it to places like NYC or Newark…that can handle the large population with public transit.
NYC Director says:
May 25, 2022 at 12:27 pm
Adding one or two additional units to most residential only areas is a responsible thing to do and it wont change the character or quality of the neighboorhood much (especially if its a normal middle class township) while the value add to both existing homeowner and community is material. If you decide that you want to finish your basement and rent it out you shouldn’t need your neighboors persmission to do so.
Alex, is dead.
So are the democrats.
Ed,
Young children died…geez. How about you get red state house in order first and stop Faux News obsession with liberal NY and Chicago as deflection point away from true issue – take guns and ammo away from man-chilrden and tell the R to f&ck off with second amendment. I’ll be happy when bangers and militia men alike will need finger up their r&ctum first before they get even a pea shooter.
HOUSTON (AP) — Two people were killed and three more were taken to a hospital with injuries after a shooting Sunday at a bustling Houston flea market, authorities said.
It’s really too late now. The frequency of senseless mass shootings is increasing. There are more guns than people in America. I could only imagine how many bullets there are. And with 3d printers, our near complete lack of any law enforcement (for examplem, 12 people out of the 112,000 who lied on their gun license forms were prosecuted) and equivocation of patriotism with gun culture, it’s simply too late. Forget about solutions. You are better off using your time lying to yourself to reduce the pain or just obliviously pretending there is no problem, like our politicians do.
Get ready for armed teachers. Which will have zero impact on any of this. Focus on ignorance. It’s truly bliss.
Oh, and while you are at it. Protect the unborn, so they can be shot afterwards.
Bystander,
Question: What’s the answer? Ban guns outright? Seriously asking.
Parking on the street doesn’t need to be easily available – people can pay for private parking or they can pay in time and auto wear by circling around looking for a spot.
Or, the town can have an auction for street parking permits. People without cars don’t care, and people that want street parking can pay market auction price for it.
Of course, locals don’t want more density and they want easy street parking. The problem is that everyone feels that way, so they are NIMBY. All that NIMBY adds up to high housing prices.
This conversation started because the Biden Admin wants to encourage looser zoning in exchange for federal grant money. The Biden Admin did NOT announce some kind of “improving quality of life” grant or a “plentiful street parking” grant. If we are talking PRICE alone, then simply Looser zoning = lower housing prices.
Even more, what’s the root cause?
Be honest with yourself when answering this one.
Adding one or two additional units to most residential only areas is a responsible thing to do and it wont change the character or quality of the neighboorhood much (especially if its a normal middle class township) while the value add to both existing homeowner and community is material. If you decide that you want to finish your basement and rent it out you shouldn’t need your neighboors persmission to do so.
This is why I think in areas like NJ, it’s basement apartments that are going to be the acceptable alternative to teardown and infill, or in Montclair it’s going to be quaint carriage house apartments, or maybe it’s treehouses like that place up by Montclair State.
The challenge is, to be able to achieve it in a way that’s similar to Canada has been able to (Vancouver, Toronto) – and not in the way that it was done in Plainfield 40 years ago.
It’s something that a good portion of homeowners will rally over, as it’s going to drive significant increases in home prices, as well as generate supplemental income.
“So are the democrats.”
Because the insane R party has declared open season on America.
Well, Ed..what is the question?
Guns aren’t the problem….unhappy people are. Their families need to stop ignoring them and turn them over to the authorities.
Media needs to stop focusing on negativity. Start brainwashing people to be happy. Simple as that. Remind people how lucky they are to be alive and healthy. Remind them that it is gift to wake up each day and get to experience life. Remind them how good they have it. Focus on feel good stories.
Again, the avg person in Costa Rica is happier than the avg American. Correct? Again, they aren’t watching the media all day getting pissed off at the negative news. Correct? They aren’t on social media all day getting angry. Correct? Hmm….I wonder why they aren’t experiencing what we are.
Bystander, why have these mass shootings proliferated in the last decade or so? What’s the root cause(s) and what is the solution?
There is no solution. Just more evidence of our decline into third world status.
Though, glorifying the gun, like so many Trump populists are doing these days, does not help the situation. Perhaps emphasizing gun safety might make a better marketing ploy. Nah.
https://m.media-amazon.com/images/I/A13usaonutL._CLa%7C2140%2C2000%7C91gtOMuYGIL.png%7C0%2C0%2C2140%2C2000%2B0.0%2C0.0%2C2140.0%2C2000.0_AC_SX679._SX._UX._SY._UY_.png
very sorry for the children, or elderly or minorities.
The problem with the country is psychological, pedagogical and have to do family values. For many there is no family, no love no care. A lot of other places are full of guns, but none has this level of unexplainable hatred and violence.
There is considerable small amount of love and care to young and outliers, perhaps due to economical disadvantage situations for all. No state resources, no funding no budget, no care. The young and sick kid can not buy a beer at age 18, but can buy 2 ARs with $4000 of ammunition for instance. Why?
Yea, so simple. So now the old people will be forced to drive around multiple blocks hoping to get lucky and find a parking spot.
Where are you going to build parking lots?
Again, I grew up in this setting. Did you? Did you have to deal with worrying if you will find a parking spot or not? And then you think we can easily add more housing without the parking to support it? You sound like a greedy developer. Listen to yourself.
Clifton streets can’t even handle the traffic anymore. There are too many cars. Unless you come up with public transit system, adding basement apartments will just destroy the area. You will then have people moving out and what you will be left with is another ghetto.
crushednjmillenial says:
May 25, 2022 at 1:14 pm
Parking on the street doesn’t need to be easily available – people can pay for private parking or they can pay in time and auto wear by circling around looking for a spot.
Or, the town can have an auction for street parking permits. People without cars don’t care, and people that want street parking can pay market auction price for it.
https://dailyhive.com/toronto/heres-how-many-basement-and-secondary-units-exist-in-toronto
The question is whether there are too many gun deaths in this country. The answer: reduce gun manufacturing, reduce ammo and make it tougher for people to own guns. Now, tell me how it won’t work. Mental illness is to blame, the left reducing father’s role, no god in schools and all other ridiculous bs that R is slinging.
“Why does the govt have the right to impact my freedom to live in the community that I desire?”
Government can do anything it wants to you anytime you want. It has a full complement of fully armed men hanging around all day to make sure you comply and don’t resist.
Be careful who you vote for.
Pumpy,
Don’t need cars if you just embrace working from home already. It’s time you jump on board the train.
“So now the old people will be forced to drive around multiple blocks hoping to get lucky and find a parking spot.
Where are you going to build parking lots?”
“This is why I think in areas like NJ, it’s basement apartments that are going to be the acceptable alternative to teardown and infill”
Basements, extensions, roof raises and/or any other form of an ADU makes perfect common sense and its a perfect example of a sensible middle ground problem solving sorely lacking in America today.
MADD
“The young and sick kid can not buy a beer at age 18, but can buy 2 ARs with $4000 of ammunition for instance. Why?”
At what cost, grim? I would benefit. My rental would add another unit and I don’t live there…don’t have to deal with the problems it will create. My mother-in-law’s house would add another unit to rent….so I would benefit big time from the increase in rent and appreciation. I still am against it….but you are right, it will happen. Greed will win out.
“It’s something that a good portion of homeowners will rally over, as it’s going to drive significant increases in home prices, as well as generate supplemental income.”
LOL just imagine how many more people are going to resort to mass killings with WFH. You are damaging 20 somethings beyond belief. What are the long-term consequences of cutting off in-person work relationships for a 20 something? No one cares…just care about the now. Of course the 20 something wants the remote job, so they can isolate themselves from having to interact with anyone….humans are great at making bad choices over and over again.
Phoenix says:
May 25, 2022 at 1:33 pm
Pumpy,
Don’t need cars if you just embrace working from home already. It’s time you jump on board the train.
Not every homeowner will run to invest $30K+ to finish and legalize their basements so that they can become a landlord. I grew up in a 2fam house in Staten Island. After a terrible experience with a tenant, our family growing and grandma moving in, – we decided not to rent and used the entire house. All the owners on the block had a garage and a driveway to park while the tenants parked on the street. Entire neighboorhood was comprised of both one and 2fam residential houses. Everyone lived harmouneously, – as long as the tennats brught in were a “good cultural fit”.
“There is no solution. Just more evidence of our decline into third world status.”
You can thank the Boomers for this. Running America into the ground like the captain of the Exxon Valdez.
A President so out of touch, flying in baby formula from Germany as if that’s going to save the day.
He needs a new handler. And we need a President that is not in cognitive decline nor a reality show dropout.
Not going to happen-cause anything this bad isn’t normal. It’s part of a much bigger plan.
Not every homeowner will run to invest $30K+ to finish and legalize their basements so that they can become a landlord.
No, but they might in order to keep their children home permanently so someone can wipe their perianal area when they get old as nursing homes are in deep doo doo right now.
A loyal child may be a very valuable thing in the future for Boomer.
People of all persuasions really seem to want to hurt each other.
I have heard some pro-gun folks say “an armed society is a polite society”.
I hope the Texas gunman was civil and courteous while he was gunning down those 12-year olds.
simple voting eligibility solves many problems, just get rid of voting for 65+ and this country would become a better place. Same is true in a lot other places.
Re guns-
We could always adopt the Swiss model.
Handguns- very strictly regulated. Nearly impossible to own.
Semi-automatic rifles- also very restricted.
Bolt-action rifles, shotguns, muskets… those are “free guns”. No license, no permit, very few restrictions.
Handguns are the weapon of choice for criminals. Semi-auto rifles are the weapon of choice for mass killers. Get rid of those and we’d see gun deaths drop dramatically.
But anyone who wants to hunt or target shoot or protect their homes could still easily do so.
I have heard some pro-gun folks say “an armed society is a polite society”.
Other countries are armed societies as well and function just fine.
It’s not the guns. Plenty have them and don’t do this-nor would ever think of doing it.
It’s not a gun problem, its a societal one. No fix in place, no plan, no desire or drive from the American govt to solve it.
“That’s all the media and the politicians are ever talking about: the things that separate us, things that make us different from one another. That’s the way the ruling class operates in any society: they try to divide the rest of the people; they keep the lower and the middle classes fighting with each other so that they, the rich, can run off with all the fucking money. Fairly simple thing… happens to work. You know, anything different, that’s what they’re gonna talk about: race, religion, ethnic and national background, jobs, income, education, social status, sexuality, anything they can do to keep us fighting with each other so that they can keep going to the bank. You know how I describe the economic and social classes in this country? The upper class keeps all of the money, pays none of the taxes. The middle class pays all of the taxes, does all of the work. The poor are there just to scare the shit out of the middle class… keep on showing up at those jobs.” George Carlin
“Other countries are armed societies as well and function just fine.”
Which countries?
I’ll keep it simple. If you want to raise the amount of people per sq mile in any given location….please make sure the infrastructure can handle it. I have no idea how all these developments are getting passed in NJ, when it’s clear as day that the highways are maxed out. GSP in constantly jammed…yet building a ton of developments along the parkway.
Look at the shore. They f/ing built the hell out of those communities. Brick is a traffic disaster. I remember when my cousin moved there in 1989 and was the only house in his neighborhood. Now it’s all developed and the roads can’t handle all the cars.
Why is it so difficult to build according to infrastructure? Why do they overbuild all over America. Florida is a f/ing joke and they are still building. Why not create a public transportation system to match said increase in population….instead, just build and build without any type of planning.
NYC Director says:
May 25, 2022 at 1:49 pm
Not every homeowner will run to invest $30K+ to finish and legalize their basements so that they can become a landlord. I grew up in a 2fam house in Staten Island. After a terrible experience with a tenant, our family growing and grandma moving in, – we decided not to rent and used the entire house. All the owners on the block had a garage and a driveway to park while the tenants parked on the street. Entire neighboorhood was comprised of both one and 2fam residential houses. Everyone lived harmouneously, – as long as the tennats brught in were a “good cultural fit”.
Los Angeles….who the hell let them build all this housing without any public transportation? Then they wonder why it’s a living nightmare to get anywhere …
Money is the root of all evil….let these f’ers build and build because everyone is paid off.
“Fucking keystone cops with enough body armor and assault rifles to outfit an invading force got scared of a guy with a flapping plate carrier and hid in their cars as he went and murdered 19 kids.
WHAT DO YOU EVEN PRETEND TO DO”
https://twitter.com/slclunk/status/1529335435478020097?s=21&t=1Li53rP0Fv-fY46QhvcsUQ
Not sure if this is true, but if it is, pretty sad.
Arming teachers and putting cops in schools is a waste of time and will make absolutely no difference except waste more of what little is spent on public education by governments.
Retired cops don’t need jobs. They need places to waste their windfall.
It’s hilarious that SloJoe has forgotten that he wrote an article for the Washington Post criticizing GWBush for saying pretty much what he just said about Taiwan.
https://www.washingtonpost.com/archive/opinions/2001/05/02/not-so-deft-on-taiwan/2adf3075-ee98-4e70-9be0-5459ce1edd5d/
It’s sad that the media isn’t more vocal about pointing out this hypocrisy. I think the new policy should be called “strategic senility”
“Where once the United States had a policy of “strategic ambiguity” — under which we reserved the right to use force to defend Taiwan but kept mum about the circumstances in which we might, or might not, intervene in a war across the Taiwan Strait — we now appear to have a policy of ambiguous strategic ambiguity. It is not an improvement.”
“May 25, 2022, 12:44pm PDT
Sequoia Capital has a stark warning for its portfolio companies: Cut costs now.
Earlier this month, the Menlo Park-based venture firm shared a presentation with its founders in which it warned them of a pending economic downturn that will last much longer and be more severe than what happened at the outset of the Covid-19 pandemic, according to The Information. Founders need to find ways to tighten their companies’ belts to conserve cash — and the sooner the better, Sequoia advised in the presentation, which The Information published Tuesday.”
Root cause Eddie,
Decline of the family unit but what caused that is very complex. Social media hasn’t helped either. Older generation in general believes youth today are weak and my observation is that kids are coddled, naive and pretty sheltered.
Bystander, I know you are sincere but you try to take away the guns and things will get uglier that you can imagine in your worst nightmare. NJ doesnt get the gun culture thing, not that it is right, but it is not prevelant here like other parts of the country.
Phoenix: WFH is here to stay, and more and more companies are embracing it. It’s also good for the environment. And quality of life for so many people! It’s incredible how much you can get done without listening to people bullshit all day, and then complain how much work they have instead of doing the work. Of course it negatively impacts commercial real estate, but the world changes, and those people will have to adjust.
Lib: Dump commercial real estate the leases and ancillary costs savings will be huge! No need for antiquated office space.
Bystander, don’t let your emotional feelings about a tragedy impact your ability to think rationally. Guns will never be banned outright, not a chance, too many buy them for practical and recreational purposes(and we actually need hunters…). Furthermore the horse has already left the barn there are simply too many guns in circulation, many that are not registered that would continue to circulate even if the second amendment were repealed. Besides feeling good about “doing something” how does it prevent the tragedies from occurring? You can make arguments about handguns but realistically this was carried out with a hunting rifle. Give me an example of a proposed gun law that would have prevented this or minimized the loss of human life. The left hasn’t seemed to figure it out yet that prohibition doesn’t usually stop things it just makes things more expensive, guns are relatively old technology, easily modified, even made for that matter, guns can be printed, good luck stopping proliferation.
If we look one of the single deadliest attacks occurred in Norway, a country with strict gun laws. We also see attacks in other countries with strict gun laws. If some suicidial lunatic is intent on killing school kids and can’t get a gun perhaps he drives a bomb laden car into the school.
The US is a very complicated country which has neither a homogeneous population as other countries have nor do we have a good social safety net nor good mental health support. In general we have a society that produces a lot of crazy people.
Common sense would dictate that enhanced security at schools is one thing we could do and a better mental health support system. As a technologist, I’m fairly certain that we could actually data mine the population and identify the people who are at risk of committing such acts but I do not believe such a thing nor the intervention required would be constitutional.
OC as for the Swiss model, it’s apples and oranges. There society looks different from ours in many ways, you could give everyone in Zurich an AK-47 and they still wouldn’t have mass shootings.
3b,
Seriously?! Why are you trolling me? Don’t post how many days pumpkin free if you are going to troll me.
Keep wasting your life away cheering on WFH because you think it will lower real estate prices or even worse…in the hopes it hurts me. You are pathetic.
You have zero friends…you hate people.
“It’s incredible how much you can get done without listening to people bullshit all day, and then complain how much work they have instead of doing the work.”
Oh boy…
Libturd says:
May 25, 2022 at 4:05 pm
“May 25, 2022, 12:44pm PDT
Sequoia Capital has a stark warning for its portfolio companies: Cut costs now.
Earlier this month, the Menlo Park-based venture firm shared a presentation with its founders in which it warned them of a pending economic downturn that will last much longer and be more severe than what happened at the outset of the Covid-19 pandemic, according to The Information. Founders need to find ways to tighten their companies’ belts to conserve cash — and the sooner the better, Sequoia advised in the presentation, which The Information published Tuesday.”
>>why have these mass shootings proliferated in the last decade or so? What’s the root cause(s) and what is the solution?
Have you considered there are exponentially more guns now than a decade ago?
Rent: And or we are becoming an incredibly angry disturbed country.
Jcer is right.
Guns aren’t going anywhere. And if they were “banned” only the rich would be able to get one.
And they will. Every Single Time.
Because there is almost nothing that can’t be obtained in America with money.
Phoenix: Sounds like you are just finding that out.
WFH is here to stay, and more and more companies are embracing it. It’s also good for the environment. And quality of life for so many people!
It is, for some, and for some careers it’s a good fit. But I will agree with Pumps in that unless you are someone spectacular-or specialized-that being remote increases your chances of being eliminated by someone somewhere else in the world under the right conditions.
A telemarketer in NJ does the same thing as one in the Philippines-only more expensive and all America thinks about is cost cutting. Sure you can import visa workers but it is easier logistically to do it remote.
WFH jobs won’t be disappearing, but some job security loss will come with it due to loss of leverage for many. It will probably lead to decreasing salary as well-that corp wants to save on their real estate bill, and then wants some of the money you save on commuting and childcare as well. Greed is Good.
3b
I am learning lots of things later in life that “had I have known” I would be much, much farther ahead in life.
Best I can do is teach it to my child, and the young ones I work with and care about.
“OC as for the Swiss model, it’s apples and oranges. There society looks different from ours in many ways, you could give everyone in Zurich an AK-47 and they still wouldn’t have mass shootings.”
That may be true. But if we do live in a society where people are prone to violence, it seems that we might want to make it harder for people to get hold of mass-killing tools, rather than easier.
I’m way more likely to get killed on 80, having a heart attack, or worse becoming destitute in America vs being killed in a mass shooting.
Not losing sleep over it. S**t happens.
Not only that, but the crazier the world becomes, the more money I make, and the less likely I become destitute. So keep driving like you do, enjoy your double dose of alchohol or crank, or beat each other with bats.
There is a fracture. I need to fix it.
https://www.youtube.com/watch?v=3rTsvb2ef5k
I did not say banned but reduced gun manufacturing (though I would like ban like other countries). I realize that will never happen bc of man-children who think entitled to Ar-15 and handguns. JCer, what is irrational? How about arguing that amount of guns today would still allow this rampage so why change the laws for a better tomorrow? This is not about last week, yesterday but a solution for generations. Stop the childish glorification. This is not about hunters. Guns are needed for some purposes but not many. Less guns, less deaths..not even a question.
Phoenix: I disagree on WFH leading to more outsourcing, and that comes from all my years in corporate America. As well those of us that work in corporate America on the blog pointed this out a couple of weeks ago.
Outsourcing has been ongoing for years prior to the pandemic and WFH. If a company decides a function can be eliminated it will be the function, and all the people performing that specific function that will be eliminated. Being in the office is not somehow going to save the function vs WFH.
Perhaps, not being in the corporate sector, you might not fully understand that. What matters today, is deadlines, time lines and deliverables as well as the value added by the people who are tasked with meeting those teachers. Companies would have had people back in the office months ago, if the process was breaking down, and it’s not. So , WFH hybrid is not going away.
I understand some people may miss the camaraderie and all of that, and some peoples social life is built around work. Those folks need to work on having friends and activities/ hobbies outside of their work lives.
I have seen the difference from when I was younger with young kids, and my wife at home like most of us at the time. These younger people were highly stressed in many cases, and rather than going out for dinner and drinks like we did, rushed out to catch their train home to get to daycare in time. WFH/ hybrid eliminates that stress for those people, and that’s a good thing.
“Common sense would dictate that enhanced security at schools is one thing we could do and a better mental health support system.”
The school in Texas had an armed guard. So do we need 2, 3, or 4 armed guards for each of the 130,000 K-12 schools in the US?
As for better mental health support? Maybe. But you can’t force people into counselling. And I haven’t seen any evidence that any of these mass shooters went looking for help.
We have “sin taxes” on alcohol and tobacco. Maybe we should do the same with guns, and use that money to hire a few hundred thousand more armed guards, and expand mental health services.
3b
I still feel it will lead to more outsourcing, even if it is within America.(midwest employee vs the coasts) One thing about corporate-they will look to shave a dime until it is 3 microns thick.
Seen many companies cut off their nose to spite their face. If you are a worker that brings high value, has a special talent, etc-just like being in office you increase your chances of survival.
Don’t underestimate how cheap any company can be when it wants to.
The more talented you are, the more you can command. But plenty of corporations would rather just hire new, cheaper, and inexperienced vs those with experience if they can pull it off.
Most on this blog are great or the best at what they do-so less likely this would affect them.
Being in the office is not somehow going to save the function vs WFH.
Never said it would. Don’t think so either. Just one thing is for sure is that any worker that could be eliminated or replaced with a robot, AI, a bot, a program or a machine gives corporate an orgasm.
Corporate hates workers.
>> Rent: And or we are becoming an incredibly angry disturbed country.
Let us be an increasingly angry disturbed population with more gun regulation. How about that?
Phoenix: Agreed. AI will be the game changer down the road, but in many respects it’s still a long ways off. When it does kick in it will be like the legendary poster Clot used to say people will be warming themselves with fires in oil drums.
Rent: I have no issues with that. I don’t see why civilians need to have assault rifles for instance.
However, maybe we need to get to the root cause, maybe we can’t. But in the case of the latest shootings and others there were red flags, and they were not followed up on.
“When it does kick in it will be like the legendary poster Clot used to say people will be warming themselves with fires in oil drums.”
This is when you will need the guns you want to give away now.
Phoenix: Guns won’t help. Soylent Green is people!
The only common denominator for all gun violence is guns. That’s the root cause.
Be good to your children:
In extraordinary move, N.J. finally seeks to take control of state’s most troubled nursing home–
The state’s complaint, which was obtained by NJ Advance Media, said things were not getting any better at Woodland, despite the ongoing oversight by the monitor.
For example, a resident with a feeding tube was transferred to a hospital and found to have a bowel impaction. That had led to aspiration pneumonia, said surveyors for the state, because the tube feeding had nowhere to go due to the blocked colon — other than back up through the oral cavity and down to the lungs.
Earlier this month, another hospitalized Woodland resident with a similar blockage was never properly assessed, leading to the possibility of a perforated colon, sepsis, and death.
This position is laughable. You claim to know it all because you worked in corporate, yet you can’t see how remote platform increases your odds of having your job replaced by someone cheaper or having to take a lower salary. Some people are blind. Good luck!!
3b says:
May 25, 2022 at 5:27 pm
Phoenix: I disagree on WFH leading to more outsourcing, and that comes from all my years in corporate America. As well those of us that work in corporate America on the blog pointed this out a couple of weeks ago.
Outsourcing has been ongoing for years prior to the pandemic and WFH. If a company decides a function can be eliminated it will be the function, and all the people performing that specific function that will be eliminated. Being in the office is not somehow going to save the function vs WFH.
And that’s the most hilarious part about your WFH position. You think it will lead to my wife losing her job, when in reality, it’s going to cost your kid’s job. Lmao. You are prob retired already, otherwise I would say it’s def going to cost you your job. No one is going to pay top dollar to some 60 something when a remote platform is at play.
That’s one of the benefits of working in person. You build relationships. It’s not so easy to stab you in the back. With remote platform, the minute a corporation runs into problems, they will have zero remorse letting someone go. They don’t know this individual. They never built a relationship with this individual. They will just email you that you are being let go and no remorse about it…you are truly just a number on the remote platform.
If remote really does take off…going to have a lot of sad people. Stuck with a job that you truly don’t care about…no company culture. You just look forward to getting your daily to do list and then scratching over the tasks like a robot. Sounds like fun.
WSJ Editorial
A Financier Tells Some Climate Truths
HSBC executive Stuart Kirk gave a presentation at an investor conference last week, taking banking regulators to task for overbaking the financial risk of climate change. What was he thinking? As punishment for his heresy, the Brit-ish bank has sent him to re-education camp.
Mr. Kirk is, or at least was, the bank’s global head of responsible investing, so his candid presentation titled “Why investors need not worry about climate risk” naturally attracted attention. We understand why banking regulators and businesses that hope to make money off the coming tidal wave of climate regulation might be offended by his truth-telling.
But he merely said what many in his industry believe but are too timid to say: Climate change poses a negligible risk to the global economy and bank balance sheets. Oh, and central bankers are partly to blame for the current economic turmoil because they’ve focused too much on climate change while ignoring far greater, more immediate risks such as inflation.
“Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong,” one of his slides noted. He highlighted sky-is-falling quotes from banking potentates such as Mark Carney, the former Bank of England Governor, who recently said the damage from climate change will dwarf the current pain from rising prices. Tell that to the working folks dealing with 8% inflation.
If climate change poses such an enormous economic threat, Mr. Kirk asked, why did asset prices surge as doomsday warnings increased? Either climate risk is negligible, climate risk is already in the prices, or all investors are wrong, he said. If you believe the latter, then you don’t believe in
And for doing so, Stuart Kirk was suspended by HSBC.
He also pointed out that global GDP growth over this century will by far eclipse the impact of climate change, and humanity will find ways to adapt. Yet he said banks are focusing too much on mitigating climate change—i.e., force-feeding a transition to green energy—rather than financing adaptation.
Mr. Kirk warned that climate regulation has diverted bank resources from lending. The Bank of England’s climate stress tests (whose results are expected to be released Tuesday) are rigged to make bank balance sheets look less resilient to climate policy changes. This allows regulators to justify more aggressive financial regulation to punish fossil-fuel investment.
The Financial Times reported Monday that the content of Mr. Kirk’s presentation had been approved internally at the bank. But after a political uproar, HSBC suspended Mr. Kirk pending an investigation. CEO Noel Quinn denounced Mr. Kirk’s remarks as “inconsistent with HSBC’s strategy.” What a profile in pusillanimity.
Credit to Mr. Kirk for exposing the hubris of the regulatory climate emperors even as his superiors shrink in fear.
https://twitter.com/realJoelFischer/status/1529522031376613376
Woman begs for help on the NYC subway from crazy dude. All the guys just stand around and ignore her.
Guns should be allowed everywhere!
Except places where the ex-president is speaking:
“NRA Texas convention, a celebration of guns, 2nd amendment, bans weapons for Trump speech”
https://www.star-telegram.com/news/politics-government/article261799647.html
Now before you blame that on the Secret Service- 1) Trump doesn’t have to accept Secret Service protection (Nixon gave up his SS protection after he left office), and 2) Trump can overrule the SS any time he wants.
Safety for me, but not for thee.
OC, Bystander, the issue is mental health NOT guns. If we were to look at the common thread in mass murder, SSRI’s would be fingered as pretty much every mass shooter was under the care of psychiatrist and heavily medicated. These people should not have guns but what the heck does that have to do with general gun control? I think politicization is the issue and both of you have bought it hook line and sinker. Someone who wants to die and take as many people down with them are very hard to stop whether it’s a Palestinian terrorist in Israel or school shooters in Texas no amount of gun control can change this.
Just scored an excellent seat Dead & Company
Saturday June 11 Dodgers Stadium
BRT: Sad. And Adams wants everyone back in the office, while people are being terrorized in the subways. We were in Penn Station area lass Friday evening. We were shocked at how filthy it was, and homeless and beggars all over the place. And the graffiti is back too. And 9:00 o’clock at night and pretty empty people wise.
On top of that operating costs rose sharply, by 111%. This pushed net income deep into the red. The upshot: Coinbase stock has fallen 83% since November to trade recently under $62. Down here, a director has said enough is enough, purchasing a sizable $75 million worth of stock.
What’s there to be bullish about? Bitcoin and other cryptocurrencies are here to stay despite regulatory challenges. Coinbase has built a reputation and track record that support its staying power and higher transaction fees, says Morningstar Direct analyst Michael Miller. He has a $131 fair value estimate on the stock, and a four-star rating out of a possible five.
Unlike other platforms, Coinbase has multiple revenue streams. It acts as an asset custodian and broker, and it offers collateralized loans, a crypto debit card, blockchain infrastructure support, and data analytics. Expansion into new product lines will now be easier because of the crypto downturn, says CEO Brian Armstrong. “We see the down period as a big opportunity because we’re able to acquire great talent as others pivot, get distracted, and get discouraged. We tend to do our best work in a down period.”
Happiness: https://youtu.be/eayvYUD8JLY
Jcer: I agree with the mental health issue, but if we can control the guns, perhaps we can limit these people from getting these guns. There are a lot of angry people out there. I think we all can agree with that. How many more are waiting, how many more just need one trigger and they snap. I would think if we can limit these assault weapons we can at least limit the incidents of these horrific happenings and save lives. I think we should at least try.
“pretty much every mass shooter was under the care of psychiatrist and heavily medicated.”
https://www.webmd.com/a-to-z-guides/news/20210225/mental-illness-not-a-factor-in-most-mass-shootings
“Someone who wants to die and take as many people down with them are very hard to stop whether it’s a Palestinian terrorist in Israel or school shooters in Texas no amount of gun control can change this.”
And yet, other countries have all the social, racial and economic problems we have, but they don’t have mass shooters attacking schools.
What is different about the USA?
Younger hip generation embraces this. Makes them love NYC more.
Man, I lived this. Hated Tony Hawk and the west coast skate scene. Was all about the east coast scene. Remember watching “Kids” over and over and relating so much to it. Check out this documentary, just brought me back to my childhood.
Check out All the Streets Are Silent: The Convergence of Hip Hop and Skateboarding on Hulu!
https://www.hulu.com/movie/542b859f-cc74-4442-9331-8b4947bf8de7?play=false&utm_source=shared_link
“We were shocked at how filthy it was, and homeless and beggars all over the place. And the graffiti is back too. And 9:00 o’clock at night and pretty empty people wise.”
chicago at 7:38 . . .
Good article. I agree with Mr. Kirk that climate catastrophe is over-hyped. Further, even if the climate alarmists were correct, their suggested solutions don’t make logical sense as a response to the problem they describe.
For example, any climate alarmist should be a big proponent of nuclear (if the problem is carbon, nuclear is low, low carbon).
OC that hardly looks credible there are no details, look at the correlation between the mass medication for depression and homicidal acts as a data point starting in the 1980’s there is a clear trend. Any data on mass shooter events is also quite difficult to analyze as the events even when there are more then ever are quite infrequent and a single serious event can cause this rate to go way up. Furthermore look at the global statistics, all of these countries have a higher rate of mass shooter deaths than the USA(0.089 per million)
Norway — 1.888
Serbia — 0.381
France — 0.347
Macedonia — 0.337
Albania — 0.206
Slovakia — 0.185
Switzerland — 0.142
Finland — 0.132
Belgium — 0.128
Czech Republic — 0.123
Almost all have stricter gun control, gun control will not “fix” the issue, the hard data shows a global problem in mostly western society. If we look hard at the real data the narrative is wrong.
3b I agree keeping guns out of the hands of the mentally ill is a good goal and something we should maybe focus some legislation on. The issue with “assault rifles” is that there is no definition of such a thing it’s arbitrary. If you look at the most heinous and deadly mass shooting event in history, Anders brevik couldn’t get a “assault rifle” under the laws of Norway but the gun he bought, a hunting rifle was functionally equivalent to a banned AR-15 but not covered under the law because all legislation depends on gun models rather than some specific “features” of the weapon.
Ok JCer. Easy access to guns for mentally ill..problem. The Faux News will make it only about mentally ill when you can’t solve what someone in thinking or has intentions of doing. You can stop access to guns and deaths would go down tremendously. How about we try instead of swallowing lies. We have listened to arguments of your side for decades so time for gun control. I think it is bunk to say they will find a way. Put up some damn roadblocks and stop making it so easy. This is not hard.
“For example, any climate alarmist should be a big proponent of nuclear”.
Not sure what a “climate alarmist” is, but many people who accept the reality of climate change do support nuclear.
“30-Yr US Treasury yield appears to be peaking –
A decline in the risk free rate = tailwind for growth stocks (long duration assets)”
OC, I think that’s the point those screaming the loudest about climate change also are anti-nuclear, where despite potential risks nuclear has a lot going for it as a replacement for fossil fuels.
Bystander again your argument has no facts to back any of your assertions and the policy proposals would be totally ineffective nor is there a well reasoned argument behind any proposal besides emotion.
What have we determined, the USA is not an outlier as far as mass shooting events are concerned, these events have increased throughout the west. Weakness in the US mental healthcare apparatus amplifies the problem in the US but statistically speaking based on population the number mass shooting murders is in line with other “western” nations. The addition of strict gun control in other western nations did not statistically reduce incidents of mass shooting murders. Again this is not conjecture, this is a fact.
We can pass every proposal but besides “feeling good” because we’ve “done something” to address the situation the incidents of mass shooting would likely remain unchanged. Or we could try to look at what could really be done to address these shootings and that’s not to say gun bans for the mentally ill should not be on the table but the mental health apparatus in this country needs a lot of help.
https://twitter.com/realJoelFischer/status/1529522031376613376
Woman begs for help on the NYC subway from crazy dude. All the guys just stand around and ignore her.
Give me qualified immunity and a gun. Oh, that’s only for “special” people.
JCer, you know you are wrong on guns, that’s why you chose to pick statistics out of your ass instead of widely known, in your face statistics about guns and Amerika. You suck!
Jcer,
Mass shooter deaths per country? What kind of stat is that? Norway had like two gun homicides in 2020, Canada like 270 and had US over 19,000. I don’t know how you think you are rationally discussing this issue.
Jcer-
That list of mass shooter death rates is only for a short period of time (2009-2015) and mostly includes very low population countries, so a single mass shooting in one of those countries within that time frame will really skew the rankings; that list would look very different using a different time frame.
Also leaves off the rest of europe, which fell below the US.
But we can certainly be proud of the the fact that we had fewer mass murders than Albania, Serbia and Macedonia.
USA! USA! USA!
OC tiny countries have fewer people, mass shooter events are rare even in the US depending how you define a mass shooting it’s in the hundreds which is a statistically negligible in a country of 330 million.
Bystander we are not talking about overall gun homicides, most of those are related to gangs, cartels, and organized crime. The rapid increase in homicides in Americas cities had absolutely nothing to do with the “defund the police” movement(sarcasm). In major cities border rates and gun violence have more in common with latin america where the cartels are operating than first world countries.
RentLord, no need for name calling, because a statistic does not match your chosen narrative does not necessarily make it invalid. It is an indisputable fact that even if the second amendment were repealed tomorrow the guns would remain on the street. It is also an indisputable fact that states with very strict gun control have been unable to get illegal guns off the street. Everyone is armed in Vermont yet there aren’t high levels of gun crime, the same is true in NH and the same is true in most rural parts of America. So many of the statistics on mass shootings include things like gang violence which is really a distinct problem from what most consider “mass shootings”.
For the record the vast majority of gun homicides are not committed with a firearm legally obtained by the shooter. US gun homicide problems tend to be concentrated in the inner cities and primarily driven by the drug trade. Policing is what brings those down not gun control, illegal guns need to be taken off the street for the most part legal guns are not used on the street. If you want to discuss gun owner registries and cracking down on things like gun show sales, sure we can fix these things. But none of this has anything to do with the current tragedy at hand.
We’re fucked folks. Admit it.
Pull the sheets back on America and see the real place.
Tragedy and despair are our calling card now.
“But we can certainly be proud of the the fact that we had fewer mass murders than Albania, Serbia and Macedonia.”
Watch it there tough guy.
Oh, think twice, ’cause it’s another day for you and me in paradise
Oh, think twice, ’cause it’s another day for you
You and me in paradise
School budgets need to include security measures; checkpoints, armed guards, cameras, etc. They need to make it really difficult for anyone to enter who is not authorized. Gun control measures are not going to work or at least, they’re not nearly enough. If schools need to resemble mini-prisons, so be it.
Woman begs for help on the NYC subway from crazy dude. All the guys just stand around and ignore her.
I don’t even know what to say. We’re back to Kitty Genovese and the 1960s in NYC.
The theory of diffusion of responsibility seems incredibly relevant right now.
I think an officer should be at every school. We have 1 active and one retired. The cops from town stop by once a day to hangout and talk. That’s enough presence. In this day and age, they should just have a network activated lock on every door that you can activate in an instant to prevent people from getting in from outside. There’s not much more you can really do at the schools.
But as with everything, you are going to see if they do enough digging, there were likely a dozen people who ignored all the warning signs that this idiot was likely displaying.
We already have instances where officers in school have neutralized the situation immediately, and we have instances of it not working.
Wayne PD was out in full effect. Pretty sure you’d have to tear some of those guys away from being at the schools yesterday. We almost always have a uniformed officer at the grade school for drop off and dismissal. All day though, no.
Italian sovereign debt getting concerning again.
BRT: I know some Bergen Co schools implemented all sorts of policies and processes , but I am told over time they have become lax.
I remember when I was at Clifton in the early 90s, we had SRO’s in school, it was a big change at the time. It was staffed by the younger cops, the bike crew actually. Doubt that was intentional, the rest of the PD was a bunch of lazy f*cks that probably used seniority to be able to sit in their cars all day. Anyway, those young guys had a great relationship with everyone. Remember one of the guys, Dave K, who was one of the cops that started up the Clifton PD bike squad. Raced with him (road bikes) a few years later, great guy. Ironically, I think he owns a marijuana grow operation now. Anyway, these guys really went out of their way to diffuse conflict. It wasn’t at all a bunch of old guys in a room, being completely reactionary, and it’s really the only way something like this works.
I am completely sure they way in which they operated would not be permitted these days, but it was pretty common for kids to ask them to help diffuse conflict, and not go to guidance counselors, teachers, etc, and they’d do it in a way that didn’t result in kids getting suspended, or anyone else even knowing really. The vice principal especially, was known to be a ball buster and enforcer, with little tolerance. But it was the cops that brokered lots of handshakes, and those handshakes came with the understanding that the next step probably involved one of them getting arrested. But, it worked. They walked the hallways, they sat in the lunch rooms, everybody knew them, just like the popular gym teacher, music teacher, auto shop teacher that was everyone’s best friend, etc etc.
Clifton early 90s was rife with tension. Was a melting pot that was defined by cliques, and lots of them did not get along, lots of socioeconomic diversity and classism, lots of racist fucks. It wasn’t west side story, but it was still pretty bad. I’m a pretty low-key person, and I was involved in two pretty big physical altercations in my 4 years – I’m talking police, knives, physical property damage, family court, etc etc.
So, cops in school, I don’t know if I necessarily think its a bad thing at all. I remember as kids we were all surprised about it, shocked to see uniformed cops in the hallways, but it didn’t take long before we just considered them part of the school, like every other adult there, except, they represented an alternative authority structure. So even the kids who were the rebels, hated school, etc – they had respect for the cops there (probably because the cops made it equally clear that they didn’t care to be back in school either). I don’t want to go so far as to call them peers (or I’ll be accused of confusing this with 21 Jump Street), but they were able to be considered part of the community.
They wore their guns on their belts, and I have zero doubt that they’d put their life on the line to defend all of us god-damned miscreants if duty called.
CBO says it will take until 2024 for the Fed to reach its inflation target.
On guns . . .
Recently, the Biden Admin attempted to institute its Disinformation Board. The uproar against it was loud enough that the Biden Admin realized it was a PR/political disaster and that the American people do NOT want their government to be the arbiter of truth rather than the free exchange of ideas. The Biden Admin walked it back and Nina Jenkowitz is not going to be the disinformation czar (ideally, she would retreat from public life and be forgotten, for the sake of the political fortunes of the D’s). If the Biden Admin didn’t do this, they were probably facing even tougher results at the polls in November 2022, and November 2024 and in all sorts of downballot votes all over the US for some time to come. Lesson = don’t mess with the First Amendment, Americans still hold it close to their hearts (in spite of the Marxist-inspired voices on the woke left; or the no-principals authoritarian GW Bush Patriot Act far right).
I, personally, believe that a similar energy gets activated in response to a diminishment of Second Amendment rights. Every R in every debate with a D should end every remark with “and, don’t forget the D’s are worse on the Second Amendment.” The Political Center in the USA includes the responsible gun owners in rural and suburban america that treat their firearms responsibly for hunting, recretaional target shooting, and self-defense. For people with that reality, anti-gun rhetoric just simply doesn’t land well.
We always talk about a lack of awareness with myself…well, think about most of the population when it comes to WFH.
Do people like 3b that claim to be all about the younger generation realize what they are doing? Do you understand the 20 somethings and early 3o somethings have never seen a bad labor market. They have no clue what a real labor market looks like. So they have no idea of the consequences of their demands for WFH. The only thing they know is an ultra tight labor market where it’s impossible to get fired and one in which the worker makes the demands, not the owner. They feel invincible.
3b, do you realize it’s your job as the older generation to guide the younger generation to make smart choices? Lefty has said it on here, he’s guiding his kids the correct way when it comes to the labor market. He’s not pushing them to work remotely, instead he is explaining the consequences of what could happen with this platform if his kids decide to take it up.
I wish more parents were like lefty, and were doing their damn job in guiding their kids. I know 20 somethings know it all, and hard to get through to, but it’s you damn job to show them the light.
All I know, when jobs start going to the lowest bidder, and it’s a race to the bottom (like happened with blue collar jobs)…I don’t want to hear anyone crying. You demanded this. Instead, after these people lose pay or their jobs, they will come attack teachers because we still have a job. Crying about our pensions because they don’t have one. Who’s fault is that? Never fails.
JCer-
Mass shootings ARE rare, statistcally speaking (though I doubt the parents of the victims find that comforting).
Many guns used in homicides and other gun crimes in the US are obtained illegally (stolen, straw buyers). But that is only possible because the US has so many guns, and so many states with loose gun laws.
A few years ago, the NYPD determined that 60% of illegal guns in NYC came from Virginia. The criminals in NY are getting their guns from states with loose laws, and not from states with strict laws (like NY and NJ).
As for gang, drug, and inner city crime related murders, other developed countries have all those issues too. But our murder rates are 4 or 5 or more times higher than any other developed country.
They wore their guns on their belts, and I have zero doubt that they’d put their life on the line to defend all of us god-damned miscreants if duty called.
Well, don’t know about “God” damned, but thanks to cameras we do know what they actually do when they show up. Some actually stand outside the school and wait. Some body slam 10 year old children.
And this is Clifton today:
https://nj1015.com/clifton-nj-cop-indicted-for-alleged-sexual-offenses-against-child/
We have an assigned on duty officers at each school, and you need to be buzzed in by the office. It’s been that way for years.
it’s your job as the older generation to guide the younger generation to make smart choices?
Boomer is doing a “crack” job at it.
Latest is Boomer putting the youth in serious debt and expecting them to have a positvie outlook on life, manipulating children with social media and profiting from it.
Loads and loads of American women posting emojis with praying hands and broken hearts-claiming they are so distraught they cannot function, then going out and buying a purse made from the hands of child labor.
Hypocrisy. Ugg.
“Wayne PD was out in full effect. Pretty sure you’d have to tear some of those guys away from being at the schools yesterday.”
Yeah, the young teachers had their sun dresses on. Time to go out in full “Hero” mode.
Nice post. Dead on. The good ol “bike cops.” Brings back lots of memories.
You aren’t kidding with the fighting. I was fortunate enough to have one of the toughest cliques in Clifton. Had the sperling park crew combined with the crazy valley road/quarry headbangers crew. Man, the amount of fights. We went to war with the Arabs from the other side of clifton. I remember one of my friends got jumped by them during the fire drill. I had to fight the leader of the Arab crew in gym class. He tripped me on purpose while playing at gym. Then we went at it.
I’m like you, don’t look for fights, but in this environment, you almost had no choice. I remember at my soccer game at clifton stadium vs the private school in Paterson that shut down. Turned into a total brawl with people from the stands jumping onto the field. The good ol days. Rossi tossing people trying to stop the brawl. LMAO
“Clifton early 90s was rife with tension. Was a melting pot that was defined by cliques, and lots of them did not get along, lots of socioeconomic diversity and classism, lots of racist fucks. It wasn’t west side story, but it was still pretty bad. I’m a pretty low-key person, and I was involved in two pretty big physical altercations in my 4 years – I’m talking police, knives, physical property damage, family court, etc etc.”
Phoenix,
The people most active in manipulating social media are millennials and barely older.
Time to stop blaming the older generations and calling everyone a “boomer”. Baby Boomers are over 58 years old now, and most of them are in their 60s. Biden is only 4 years older than the oldest baby boomer (the “boom” of children born after WW2 ended). The people who worry me are the 20-30 somethings who yearn for speech-and-thought-policing and are also dreaming of forcing other people to live according to their value systems. A lot of those people are leftists, but some are also on the religious right.
In any case, there’s no generation in which all individuals act the same or think the same. There’s no race in which all individuals act or think the same. The whole habit of naming large groups and giving them a name as if they were sub-humans “karens”, “boomers”, “deplorables”, “SJWs”, “snowflakes”, “n—–s” is lazy, and it avoids identifying and explaining what ideas and actions one finds repugnant, and why they are wrong.
“But as with everything, you are going to see if they do enough digging, there were likely a dozen people who ignored all the warning signs that this idiot was likely displaying.”
Perhaps, but how do we respond to “warning signs” (whatever those are)?
Maybe we should immediately jail anybody who says anything that might indicate they may be thinking about committing violence. Stuff like “I am going to shoot up a school” or “hang Mike Pence!”.
Phoenix: I don’t think the Boomers can be blamed for the social media aspect of your post. If you are going to blame a generation, it would be more Gen X and older Millenials. There are many of them too that are selfish, greedy and lacking any self awareness at all. They like many of the Boomers don’t give a damn about the younger generations, as long as their self interests are protected they have no problem abusing the younger generations.
This should get all of those unruly boys back in line:
https://bit.ly/3wNBAjO
How do you respond to warning signs????
You search the f-ckers room and find assault rifles?
Jail is the next step.
In any case, there’s no generation in which all individuals act the same or think the same. There’s no race in which all individuals act or think the same. The whole habit of naming large groups and giving them a name as if they were sub-humans “karens”, “boomers”, “deplorables”, “SJWs”, “snowflakes”, “n—–s” is lazy, and it avoids identifying and explaining what ideas and actions one finds repugnant, and why they are wrong.
And the stereotypes, too.
https://www.huffpost.com/entry/supreme-court-gun-carry-permit_n_628e737ce4b0cda85db99203
5-25-22
An Imminent Supreme Court Ruling Could Make Gun Safety Laws Even Weaker
The conservative justices could strike down a New York law, endangering basic gun safety measures in huge swaths of the country.
Tuesday’s massacre at Robb Elementary School in Uvalde, Texas, would seem like a powerful argument for passing new legislation to regulate firearms.
But the most likely source of immediate federal action on guns isn’t Congress. It’s the Supreme Court, which is about to issue a potential landmark ruling that could expand the reach of the Second Amendment, putting some existing state and local gun safety laws into serious legal jeopardy.
Harrowing video shows Texas cops RESTRAINING parents outside elementary school shooting and telling them ‘we’re taking care of it’: Cops took up to 90 minutes to get inside classroom where gunman had trapped kids ‘because they needed a key’
as long as their self interests are protected they have no problem abusing the younger generations.
This is how it perpetuates. Goes right down the line.
Get ’em in debt while they are young, use marketing to control them. It’s well studied, just think the typical woman still needs a worthless diamond on her hand in order to feel good about herself.
Just wait and see with AI data how they will manipulate your children even more.
Until one cracks. Expect plenty more cracks as these kids have never seen “freedom” like the boomers had. You can’t take a pi zz in the woods without being caught on a trail cam. Every key stroke monitored by your employee. Better move that mouse every 2 minutes or you get docked. Don’t touch the radio in your big rig-you are working, no music for you.
Have a friend, young woman, returned from CA. In NJ for school, needed a MMR shot. Went to her doctor, asked receptionist how much it was going to cost her. No one could tell her how much the office visit was going to be with her CA insurance-said that they needed the “codes” first like she was supposed to have them. Imagine going to a store and not knowing what you bought cost you. Where is Mitch Mc Boomer Connell and Nancy PlasticFacelift Pelosi to help the general public-which by the way, is their job?
I’ll tell you, rotting their boomer butts there doing nothing and collecting money while people suffer.
Don’t expect them to solve this gun problem either, they will both be collecting checks from their lobbies. This was a payday for them.
Like Grim already said, this would have never happened in Wayne. The cops are way too strong in Wayne. The kid would have never made it into the school….
We pay our cops a lot of money in nj, but damn do they not f/k around in the nicer communities.
This article points out what that tweet pointed out that I posted yesterday. So might be some truth to that tweet. WTF were these cops doing?
https://nypost.com/2022/05/26/videos-show-parents-begging-cops-to-stop-texas-school-shooting/
So true…great post.
“Until one cracks. Expect plenty more cracks as these kids have never seen “freedom” like the boomers had. You can’t take a pi zz in the woods without being caught on a trail cam. Every key stroke monitored by your employee. Better move that mouse every 2 minutes or you get docked. Don’t touch the radio in your big rig-you are working, no music for you.”
The 117th Congress is the most diverse Congress in history in terms of gender, race, and ethnicity. But how does the diversity of age in Congress stack up? The average age of the 117th Congress is 59 years old.
Boomers. And been that way for quite some time.
I thought Texas was made up of tough guys? What happened?
“Uvalde school shooter was in school for up to an hour before law enforcement broke into room where he was barricaded and killed him”
https://www.cnn.com/2022/05/25/us/uvalde-texas-elementary-school-shooting-wednesday/index.html
It’s finally coming…
“Ethereum’s long-awaited “merge” upgrade is scheduled for this summer
Amid all the market turmoil, there’s one major crypto development on its way that’s been flying a little under the radar: Ethereum’s long-awaited “merge” (sometimes known as ETH2), which Ethereum co-founder Vitalik Buterin says should happen in August. It will move Ethereum from the energy-intensive “proof of work” system it currently uses to a “proof of stake” system that promises to make the network 99% more efficient while also increasing security and processing speeds. The merge is a complicated, years-long technological endeavor that’s seen countless delays. Here’s why it matters so much.
Proof of work is the original crypto “consensus mechanism,” originating with Bitcoin, that allows many computers across a decentralized network to agree on which transactions are legitimate — and is also the process Ethereum currently uses to create new coins. It requires a huge amount of processing power, which is contributed by virtual “miners” around the world who compete to solve a time-consuming math puzzle. The winner gets to update the blockchain with the latest block of verified transactions, and is rewarded with a predetermined amount of new ETH.
In the wake of vastly increased network traffic due to innovations like DeFi and NFTs, proof of work’s bandwidth limitations have caused bottlenecks — and unpredictable spikes in transaction fees (also known as gas). Enter proof of stake. Proof-of-stake blockchains — which are used by low-fee ETH alternatives like Solana and Avalanche — are designed to be faster, less resource-intensive, and theoretically more secure. Instead of requiring energy-intensive miners, proof-of-stake networks rely on “validators” that contribute their own ETH to a “staking pool” in exchange for a chance of updating the blockchain with the latest block of verified transactions, earning newly minted tokens, and pocketing a share of transactions fees. (Learn about staking via Coinbase.)
So what exactly is being merged? Ethereum’s upcoming upgrade will combine the current proof-of-work blockchain with a proof-of-stake blockchain called the Beacon Chain, which has been running since 2020. Right now all you can do on the Beacon Chain is stake your ETH. But hundreds of thousands of validators have already staked more than 10 million ETH — and with the upgrade, the Beacon Chain will merge with the existing proof-of-work chain and begin taking over the work of validating new transactions and issuing new ETH.
Buterin says that the merge should happen in August, at which time Ethereum’s proof-of-work blockchain is scheduled to begin degrading — a milestone known as the “difficulty bomb.” After this date, the proof-of-work blockchain will begin operating more slowly, which is meant to incentivize existing miners to become validators on the new blockchain. That said, the merge has been in the works since 2015 and has seen numerous delays over the years. In the event of testing issues, Buterin said the merge could be forced to be delayed once more.
Why it matters… Ethereum’s smart-contract compatible blockchain powers everything from DeFi to Bored Ape Yacht Club — but the tsunami of resulting traffic has bogged down the network, causing fees to soar and inspiring a host of new competitors. Which is why the merge is one of the most anticipated technological events in the history of crypto. Post-merge, Ethereum’s developers are gearing up for a series of changes that will even further transform the second-biggest cryptocurrency by market cap, including splitting the network across 64 “shard” blockchains, which should mean vastly increased transaction speeds — and much lower fees.”
“How do you respond to warning signs????
You search the f-ckers room and find assault rifles?
Jail is the next step.”
Please define “warning sign”.
People sometimes forget that the 2nd isn’t the only ammendment in the bill of rights.
At the end of the day, statistically speaking, the odds of your kids getting shot in their school is still insignificant. It’s just human to picture your own children in that situation and to try to act upon it. The amount of money that will be spent hardening schools, paying for armed guards and the amount of time wasted on virtually useless shelter in place active shooter drills will be astronomical. NJ alone has already spent over 10 million on installing silent alarms in all schools. There are 50 million public school students in this country already. This number does not include the private school population which adds about another 5 million. Yes, the issue tugs at our hearts. Realistically, we are wasting our money with all of the currently offered solutions.
Grim is correct about having what are essentially neighborhood cops in at least grades 7-12 schools. We had a cop in our high school and he too was well liked and served as a sort of peer counselor as well as mediator and occasional fight stopper. This was a very valuable option as not only did it serve as a deterrent, but it helped young people gain the much needed respect for the police that does not currently exist in most places. But I would probably end our spending there.
The easiest way to fix the problem would not require much reform. Many strong laws are in place. We just don’t enforce them. Additionally, the glorification of firearms should be reduced. I was first taught to shoot a gun at camp, in kindergarten. Though I was barely old enough to tie my own shoes, I was able to be taught how to respect and safely use a rifle. Basic stuff as never carrying a gun with a finger near the trigger. Always point the gun at the ground when carrying it. Anytime someone is front of you, the safety should be on or the moment cease fire is heard. In grade school, I hunted rabbit (to consume) with friends. Not once was the concept of guns even mentioned as form of self defense or to be used against humans. They existed for hunting and for target practice. Quite honestly, the thought never crossed my mind. Guns have taken on a new meaning. They are now marketed as a means of protection. Of course, the unsuspecting buyers are about as likely to use their firearm for this purpose as is their kid to be shot up in school. But now there is a firearm in the home to fall into the wrong hands. All these kids know of firearms is Call of Duty or Halo. Even the youngest have played Fortnight. This is their firearm education. The glorification of firearms need to be stopped. Research says guns are used for self defense in less than 1 in 100 crimes. The likelihood of you to be involved in a crime where a gun would serve as a deterrent is next to nothing. But humans are terrible with math.
Personally, I am gun supporter. Though, IMO, handguns should require special training and perhaps micro-chipping so they can be easily identified. Use of an illegal handgun should be punishable by a minimum of ten years in prison. Being caught with one, should be punishable by about five years in prison. The only true purpose for a handgun is self-defense and as I already revealed earlier, you are wasting your time with it. I’m cool with all rifles that don’t contain magazines. Want to hunt, load and fire. It’s how most hunting is still done today anyway. Magazines and automatic loading weapons are only good for one thing, killing humans.
But really, like I stated the past couple of days, it’s already way too late.
Interesting article:Cannabis causes psychosis. Psychosis causes violence.
Alex Berenson
Yep, there it is, the first reference to cannabis use by Salvador Ramos, the Texas elementary school killer. In the New York Times.
Took 24 hours, give or take.
And Ms. Rodriguez recalled he would often talk about how much he despised his mother and grandmother, whom he told her did not let him smoke weed or do what he wanted.
SOURCE
This is only one case. Except it’s not.
Nikolas Cruz, the Florida high school shooter, was a heavy user and told the police detective who interviewed him that he heard voices. Devin Patrick Kelley – who shot up a Texas church and killed 26 people in 2017 before blowing his head off – had THC in his system when he died. (Kelley had anti-anxiety drugs too; a lot of heavy cannabis users wind up using Xanax or Klonopin to try to tamp down their paranoia.) Darrell Brooks Jr., last seen allegedly racing through the Waukesha Christmas Parade, is a self-described stoner.
Meanwhile, cities like Portland, Oregon have suffered an explosion in violence following the legalization of cannabis. Portland had 16 murders in 2013, the year before voters in Oregon approved full legalization. Last year it had 90. It’s on pace to have even more in 2022. It has gone from being one of the safest medium-sized cities in the United States to one of the most dangerous. Denver has seen a similar trend.
Think I’m buying back in with 401k tonight….still researching, but think people know the FED won’t hike much more.
Got a problem? Call a cop. Now you have two problems.
Warning sign will be a phone call.
“Mr. McClain was walking home from a convenience store on Aug. 24, 2019, when someone called 911, saying he “looked sketchy” and was wearing a ski mask and waving his arms.”
A dead innocent man. Due to a “perception.”
Expect more. It’s not rocket science.
https://www.thecut.com/2020/06/elijah-mcclain-injected-with-ketamine.html
10:10 oh looooook! You found a red herring.
Congrats.
Cannabis causes psychosis.
But it brings in large amounts of revenue.
Just like alcohol. You can tax booze, and you can arrest people for drinking and driving.
Then fine them.
Better idea, no fines, jail time. But no, that’s not capitalistic enough.
Face it, fines are just another form of taxation, and an American way of doing business.
Just ask Arthur Andersen aka Accenture.
You mean the same Arthur Anderson that got a slap on the wrist for Enron?
Phoenix: Average age of Congress is 59, so tail end boomer day, just saying.
Also the young people need to get out and vote, and many of them don’t. If the Millenials are the largest generation, then get out and vote. Additionally, they need to chose qualified competent people to run for office. AOC for example is certainly not one of them.
I blame the Boomers for destroying the American manufacturing base, and for the reckless policies of the Fed. I also blame them for the endless wars in the Middle East, and now some clamoring for us to get more involved in Ukraine, and now guaranteeing Taiwan.
I also blame them for the elimination of corporate pensions in the private sector, not the public sector of course as they are a protected class.
As for Boomers and getting young people into debt, I do agree with that to some extent, as far as encouraging their children to go to pricey private schools so they can brag at BBQ s and cocktail parties.
I can also tell you for a fact many of these parents don’t even understand how student loans work, and why they take years to pay off.
I also know many boomers who made sacrifices and paid for their children s education.
If we want change, then the young people need to get out and vote. We need term limits for all politicians, one 6 year term for President. The destruction of special interests who dominate our politics. And we need people of good will to come together and compromise to try and get things done that benefits the majority of the American people.
Probably won’t happen, but that’s what we need. The current left right rhetoric is destroying this country.
For the accountants on here:
What percentage of drug money seized at a raid is ever really turned in?
What percentage goes towards someone’s house, or twin engine speedboat?
Who is gonna know?
They are too young to know any better. AOC represents how a lot of the millennials think…
“Also the young people need to get out and vote, and many of them don’t. If the Millenials are the largest generation, then get out and vote. Additionally, they need to chose qualified competent people to run for office. AOC for example is certainly not one of them.”
10:16 Bad marriages also cause mental health issues…..discuss
It’s no coincidence that the wave of mass shootings in the last 10 – 15 years is correlated to easy access to mass information; s0cial media, apps, communal trends etc. resulting in mass influence and ultimately, allowable behavior. Anything goes because everyone s doing it or saying it. Or, at least the appearance of being allowable. Notice I used the word “mass” because these events are associated. The most logical solution I could think of is to guard these schools like a prison. Let these kids know that no one is entering the school to harm them.
“But really, like I stated the past couple of days, it’s already way too late.”
“Probably won’t happen, but that’s what we need. The current left right rhetoric is destroying this country.”
Two accurate posts. I agree 3b and Lib. But it would start with your government, but it is no longer “for the people,” it is bought and paid for.
“The fish rots from the head down.”
Lib, think the market is starting to call the fed’s bluff? Sure looks like it. And looks like inflation is already lowering to an area the fed feels comfortable with…4% or lower.
The Great Pumpkin says:
May 26, 2022 at 10:12 am
Think I’m buying back in with 401k tonight….still researching, but think people know the FED won’t hike much more.
Or go to online schooling…
The most logical solution I could think of is to guard these schools like a prison. Let these kids know that no one is entering the school to harm them.
Oh Look…..NY Mag covers Pumpy’s dream gal///
“So far, she’s been wrong — her main fund is down another 34 percent since her comments — but her firm still has more than $16 billion in assets, according to fund-tracker Morningstar.
While that’s a fraction of the $40 billion ARK had in March (a figure the firm still lists on its website), it means Wood’s pool of money is still roughly the same size as major hedge funds like Bill Ackman’s Pershing Square. (Wood declined to comment for this article.)
In the realm of Wall Street, Wood is an unusual creature: Not only is she a rare female portfolio manager, but she was also an outlier in her nearly boundless optimism about the riskiest investments on the market, including cryptocurrency and Tesla, which four years ago she (correctly) predicted would go up more than 1,000 percent. Last fall, she put a $500,000 price target on bitcoin, then — as bitcoin’s price cratered — raised it to $1 million a few months later.”
This is what should be taught in high school.
https://youtu.be/PkLsjiBbZFg?t=131
Libturd,
Arthur Andersen did not get a “slap on the wrist.” The accounting firm died. The consulting business separated and still lives, but that’s a different business. But to say they got a “slap on the wrist” is just wholly inaccurate, pushing a narrative over the facts.
Look it up on wikipedia. They went from 28,000 employees in 2002 to 200 employees in 2005, even though the supreme court unanimously overturned their original judgement because of a prejudiced judge in their trial. By then it was too late. Anyway, the marketplace does punish an accounting firm that loses its reputation, eventually.
Every Breaking Wave
The tide of inflation is turning, at least as far as the financial markets are concerned. Inflation breakevens, derived from the bond market, show a sharp drop in forecasts over the last few weeks, both for the next 10 years and for the five years starting five years hence. Indeed the latter, closely followed by the Federal Reserve and known as the five-year/five-year, is right back to a level it reached in February 2021 before the inflation scare took hold. According to the bond market, there’s nothing to see here anymore:
https://www.washingtonpost.com/business/energy/has-the-inflationarywave-broken-expect-more/2022/05/25/b5ead950-dbf7-11ec-bc35-a91d0a94923b_story.html?variant=15bc93f5a1ccbb65
My theory is that life for many people is amazingly good, but if you fall under the line and are poor in this Country you are well and truly f*cked.
Couple that with easy access to drugs and booze and you get many folks, like the shooter kid’s mom who have a child they don’t want and pawn it off on their parent. Happens all of the time.
So let’s make it harder to end unwanted pregnancies in this country. Easier to get military grade weaponry…. More latchkey psycho kids with assault rifles….perhaps?
We are really circling the drain in many places.
BTW…got a looooong weekend. School had to close “Covid” spike left not enough staff.
Or go to online schooling…
That’s an epic fail. See the covid experiment. And my spouse is a teacher and listed the reasons why it failed. No, won’t work. If I’m the mayor of Haughtyville Twp. this morning and for the rest of my tenure, I’m at least parking a police car at every school in my town, every day during school hours. Then, I’m calling a meeting with the superintendent of schools to go over any act1ve sh0oter plan currently in place and revamping it.
She knows her chit….over time, she will be vindicated. She’s not perfect, but who is.
Ex says:
May 26, 2022 at 10:28 am
Oh Look…..NY Mag covers Pumpy’s dream gal///
Phoenix “Doc”…they call it “practicing” medicine for a reason. You people are like the weathermen.
Some people are born with a complete disdain for human life and some are ushered into that approach through the exposure to violence. Add in schools that socially promote kids who can’t read or write. You get the Wendy’s employee. See how correlation works?
The Weathermen:
https://www.youtube.com/watch?v=uT8ByjknQpA
10:33 Oh please. They became Andersen Consulting. There you have the other end of the spectrum. I was in a meeting with them. A partner and few younger fellas to get them up and running on procurement software to fuel their nascent hardware needs as they did integration. One kid in the room was black. The rest of us white guys. I’m the Jew. Their was a woman. I asked them when I could train them. Is that a proprietary ordering system the partner asked? “Yes” it is. we answered. Partner said….NO. That’s a bad thing. So Here we call that….We call that the Black Marble theory. If you put a black marble in a jar filled with white marbles, the black marble will always stick out.
Highly Educated imbeciles.
Probation-should have been jail time- they also committed fraud with Waste Management.
But a guy gets a death sentence over a fake twenty dollar bill.
Judge Melinda Harmon sentenced Andersen to five years of probation plus $500,000 in fines. Andersen was convicted in June for obstructing justice in the government’s investigation of Enron, the energy trader that filed a massive bankruptcy in December 2001.
Andersen admitted during its six-week trial that it shredded Enron documents but maintained that the document destruction was part of its housekeeping duties and not a ruse to keep Enron ENRNQ records away from regulators.
My money blog is pretty good today.
https://www.mymoneyblog.com/investment-portfolio-first-aid-for-older-relative-part-1-assess-the-situation.html
“You people?”
“And my spouse is a teacher ”
Private or public?
It does make a difference…
Lib: If you get a chance take a look at the CBO s latest analysis, always an intersection read, and their analysis is much better than a lot of the crap out there. Some interesting and sobering analysis and concerns in there going forward. Debt does matter.
10:50 F*ck Off
I hate doctors.
Phoenix “Doc”…they call it “practicing” medicine for a reason. You people are like the weathermen.
A teacher. That’s funny. You think you are smarter than the MD’s I work with?
Feel free to “practice” on yourself instead of going to a hospital.
I work with some of the brightest people there are and have the utmost respect for them. I’d give my life for some of them. They truly are remarkable. And none live off the backs of taxpayers.
When your little twinkle toes are nestled in your bed, they are out there working at 3 am trying to keep someone alive.
Feel free to stay home. I’m fine with it, and so would anyone else in our field that read your post.
Will do 3B. It’s the part of the equation Wall Street continues to ignore. Even though the Japanese example is clear to see.
Listen I have endured your sanctimonious bullshit on this board. You became my personal Pumpkin.
Where’s that bicycle cop to break this up.
This is why you cant time the market pumps.
Since my post on 5/20 – VOO up 5.65% and INTL up 6.49%
Better to keep averaging in, in multiple buys.
I have other buys of VTI that are down 5-6% – its hard to call a bottom – but keep averaging in and you will be fine.
Lib: It’s one of the better ones as I said; hopefully that will continue and it does not become politicized.
Hooking up with Miss Lassie at Angel Beach High School.
Try this one on OGary
https://www.youtube.com/watch?v=gRk4-sIaL7Y
Always have to keep reading and always try to stay one step ahead of the crowd.
Going to still sit on the sidelines as of now and ignore this rally even though it might be huge. Hope it’s the right move. This stuff is testing on the mind, nerves, and ability to stay disciplined when you have so much money at play.
Still sticking to the bottom coming later this year like LIB thinks. But things can change…
Well, I’ve been spending all my money on weed n’ pills
Tryin’ to write a song that’ll pay the bills
But it ain’t came yet, so I guess I’ll have to rob a bank
I guess it could be worse, it ain’t that bad
At least I ain’t sittin’ in old Baghdad
In the middle of the hot damn desert sittin’ in a tank
Well, every time the wife talks, a baby gets mentioned
But I’m so broke I can’t pay attention
Lord, how it tears me up to see her cry
Oh, I’ve been spendin’ all my nights on the internet
Looking for a clue but ain’t found one yet
Just a bunch of Mopars, guitars, and other stuff I can’t buy
Well, now Lord, if you can hear me won’t you throw a damn dog a bone
‘Cause if the Devil shows up with a better deal this old soul’s a-goin’ down
Oh, I sing ’em real pretty, I sing ’em real sad
And all the people in the crowd say he ain’t half bad
Well, they call me King Turd up here on Shit Mountain
But if you want it you can have the crown
Well, I’ve been sittin’ on my ass like a bump on a log
Watchin’ Andy and ol’ Boss Hog
Guess I ought to get up and go find a job
Instead of sittin’ on the couch trying to find the next line
I’m sure there’s gotta be a better use of my time
Like figuring out which one of these banks I’m gonna go rob
Well, the name of the game is hurry up and wait
But that ain’t putting no food on my plate
Or gas in my car and I drive a Bronco
So Lord, if I could just get me a record deal
I might not have to worry about my next meal
But I’ll still be trying to figure out what the hell rhymes with Bronco
Well, now Lord, if you can hear me won’t you throw a damn dog a bone
‘Cause if the Devil shows up with a better deal this old soul’s a-goin’ down
Oh, I sing ’em real pretty, I sing ’em real sad
And all the people in the crowd say he ain’t half bad
Well, they call me King Turd up here on Shit Mountain
But if you want it you can have the crown
Well, they call me King Turd up here on Shit Mountain
But if you want it you can have the crown
“Sturgill Simpson”
Yup. It’s a tough bear market. It’s trying to take an axe to everyone…from shorts to longs…from bears to bulls. Just wrecking it all.
Mike S says:
May 26, 2022 at 11:11 am
This is why you cant time the market pumps.
Since my post on 5/20 – VOO up 5.65% and INTL up 6.49%
Better to keep averaging in, in multiple buys.
I have other buys of VTI that are down 5-6% – its hard to call a bottom – but keep averaging in and you will be fine.
“Rising interest rates and mounting debt cause net interest outlays to double as a percentage of GDP over the coming decade—from 1.6 percent in 2022 to 3.3 percent in 2032. Adjusted to exclude the effects of timing shifts, primary deficits (which exclude net interest costs) increase from 2.3 percent of GDP in 2022 to 2.9 percent in 2032, exceeding their 50-year average of 1.5 percent of GDP in each year of the projection period.”
Debt doesn’t matter if you ignore the cost of the debt service (like Montclair did)
Debt doesn’t matter if you ignore the cost of the debt service (like Montclair did)
How many boxes of cookies do the Girl Scouts now have to sell to pay for a single classroom in Montclair?
Yeah, I still remember that post.
Oh, Yeah and as a “teacher” every fuvking time I got in the bathroom and close & lock the door I think….I guess this is as good a place as any to be if we had a shooter right now. Every single time.
Just because you are paranoid, doesn’t mean they aren’t out to get you. That’s why you try like hell as a teacher to treat kids decently. Not to humiliate or get into a beef with one. Because you never ever know how that will end. I will say that it’s a little like a prison yard though, you have to take someone down sometimes and let the room know you are still in charge. Under no uncertain terms. I’d be one of those fool teachers wh dies trying to defend the kids. It’d be impulse. I run toward shit. I played three seasons of college rugby and I have a pretty damn good chance of being able to take down a dude at short range. It’s the longer range that kills you though and really let’s be honest, there is no defense of any kind against an assault rifle.
Lib: But in the end it matters!!
Alex says:
June 13, 2017 at 9:17 am
Hypothetical Montclair Girl Scout cookie sales meeting:
Troop Leader: Next year girls, we were thinking about sponsoring the funding of a single Montclair classroom through sales of Girl Scout Cookies!
Scouts: Yeah!!
Troop Leader: For every $4 box of cookies we sell, 84 cents will go towards the classroom.
Scouts: Yay!! Troop leader, how many boxes of cookies will we have to sell to fund one classroom?
Troop Leader: 476,190 boxes.
Girl Scouts: Is that a lot?
Now that post was funny.
Another highlight.
“CBO estimates, public debt would
reach 185 percent of GDP by 2052, higher than any
percentage previously recorded in the United States (see
Figure 1-8).
Moreover, debt is on track to grow even larger after
2052. To avoid the negative consequences of large and
growing federal debt and to put debt on a sustainable
path, lawmakers would have to make significant changes
to tax and spending policies—increasing revenues more
than they would under current law, reducing spending
for large benefit programs below the projected amounts,
or adopting some combination of those approaches.”
Remember: i’m a hillbilly. Not a redneck.
Never knew the difference. Learned something new today.
A redneck can either live in a rural area or the city but chooses to live his life in an easy-go-lucky way. He is a few paces up on the ladder over a hillbilly. Both terms have negative meanings and connotations, but then “redneck” has a positive side to it.
http://www.differencebetween.net/language/difference-between-redneck-and-hillbilly/
I like that Sturgill Simpson song. Nice! It’ll all fit in well when I move to a red state. Now, if I can get a race-used ARCA car at the very least for a fair price, I’ll be all set.
Eddie have you looked at Virgina? Kind of starter red if you will…..blue now but you know that might change.
11:38 I have spent over $2k this year on supplies. I work for $25k below scale. I love my job. Seriously.
Cathie’s fees are 75 basis points. Even with only 10 billion of assets her topline is $75 million. That staff of kids in research, plus a few mid-level experienced people, I’d expect her research expenses are under $10m. Throw in back office and trading costs, maybe costs another $10m per year at most. I don’t know how much money she’s spending on advertising and marketing. I don’t think she’s using institutional channels or typical high paid salespeople. She says wild shit and gets free advertising by the media. Beats paying google to push it on people.
And rent expenses are probably not so high in St. Petersburg, FL.
So I think Cathie’s firm is clearing over $50m per year, and I’m guessing she gets to keep a lot of that.
So while I don’t really respect her research team or investment process, I have to recognize that as an entrepreneur and self-promoter, she’s among the best of this generation among investment managers , maybe similar to what Mario Gabelli accomplished in the past. Tons of people try to start a fund and get rich, they mostly do it in hedge funds I think. Cathie went the retail route which is a lot harder, picked a niche, rode it hard, and is making a lot of money for herself. Hope she doesn’t invest it all in ARKK.
Here let Dolly tell ya: https://www.youtube.com/watch?v=If-oWqUYzlQ
Speaking of rugby, my son is playing in the HS states this weekend for 15’s, they won the 7’s in the fall.
IBKR holding the line on margin interest rates . . . 1.78% for accounts of $1.5M+.
I think Cathy Wood publicly stated that half of her net worth is invested in ARKK funds. Still that $50m business distrubtion must plug in some of that net worth loss.
When ARKK was riding high, I was rooting for the growth tech boom to continue long enough for her to become a billionaire. Whacky, religious-freak grandma pushing growth tech’s wildest dreams in the wide-eyed fashion of a futurist college sophomore in between bong rips = billionaire; was my hope. Only in America. Alas, doesn’t seem like it will happen.
No one,
there was chatter that to gain full control of her funds when she was at risk of them being taken over last year, she sold puts on the fund to buy out the other interests. That would be consistent with drinking her own kool aid.
12:01 Sport of kings!
11:50,
I have a cousin who’s an audio engineer in Nashville, his wedding will be there; another cousin from Jersey, went to the University of Tennessee, married a Nashville girl and everyone that I talk to that mentions Nashville, loves the area. So, if I do ever decide to move out of Jersey, I’ll explore that area first. Now, I also have two cousins who moved to Virginia as did a few friends I grew up with so it’ll also be part of the discussion.
I agree Arthur Anderson did not get a slap on the wrist ultimately. I do not recall many of the AA partners directly involved with Enron going to prison, but I hope I’m wrong on that.
Did Anderson Consulting/Accenture work with Enron at all?
No One says:
May 26, 2022 at 10:33 am
Libturd,
Arthur Andersen did not get a “slap on the wrist.” The accounting firm died. The consulting business separated and still lives, but that’s a different business. But to say they got a “slap on the wrist” is just wholly inaccurate, pushing a narrative over the facts.
Last one.
“Risk of a Fiscal Crisis
The likelihood of a fiscal crisis increases as federal debt
continues to rise in relation to GDP, because mounting
federal debt could erode investors’ confidence in the government’s
fiscal position and result in a sharp reduction
in their valuation of Treasury securities. In turn, investors
would demand higher yields to purchase Treasury
securities and thus drive up interest rates on federal debt.
Additionally, concerns about the U.S. government’s fiscal
position could lead to a sudden increase in inflation
expectations, fear of a large decrease in the value of the
U.S. dollar, or a loss of confidence in the federal government’s
ability to repay its debt in full, all of which would
make a fiscal crisis more likely. If a fiscal crisis occurred,
it would result from multiple factors, and no clear basis
exists for identifying the level of debt that might lead to
such a crisis in the United States.
Several characteristics of the U.S. financial system make
a fiscal crisis less likely in the United States than in other
countries, and financial markets do not currently reflect
any notable concern about the risk of such a crisis in the
United States. But given the persistently large budget
deficits that are projected under current law and the
already high debt-to-GDP ratio, the risk of a fiscal crisis
is likely to be higher in the future if steps are not taken
to stabilize the debt.”
Liotta got the Vigoda treatment
Accenture okay. Enron not okay. Though, when will accountants be held accountable. S&P should have no credibility since the mortgage crisis and their intentionally falsified ratings on the derivatives and mortgage tranches. Talking about a REAL slap on the wrist.
RIP Ray, still my favorite movie to this day is Goodfellas
BRT: Mine too. He did such a great job narrating and acting in that movie. It’s one of my favorites, and I have watched multiple times over the years.
Best scene ever…
https://www.youtube.com/watch?v=8L4HHPTiZN8
schools like prison
how about grocery stores, shopping malls, where does it end?
give gun freedom, but tax the shit out of it, like use tax, or registration fee, AR-15 for instance make $10K/year to own one. That would solve the problem off the bet.
Soon the voting public will come to that. Obedient mild millenials will change the legislature in ways you would not notice.
Biden will be giving the commencement speech at his Alma Mater Univ Del on Saturday, and there is chatter he may use that forum to announce his stud loan debt plan.
That sucks, Chi. Bit of a one trick pony actor but he was absolutely perfect in Goodfellas.
Lib,
Let’s not forget good ole Merrill Lynch role in helping Enron cook books. Didn’t they buy African oil tankers or something to help hide expense?
https://twitter.com/BrynnTannehill/status/1529812650716188673
Also put Uvalde’s finest to your prison as guards.
Dude? It is a barely a 20% pullback over 5 months. Mostly in a straight line. No big blowups, and MORE IMPORTANTLY, no true sucker’s rallies YET. I’m not happy, but the grand scheme of things, this is a cake walk. Nothing has happened yet, let alone anything TOUGH. Only the naive and the stupid have been fucked…… but I’m sorry to say that will change soon.
The Great Pumpkin says:
May 26, 2022 at 11:21 am
Yup. It’s a tough bear market. It’s trying to take an axe to everyone…from shorts to longs…from bears to bulls. Just wrecking it all.
Mike S says:
May 26, 2022 at 11:11 am
This is why you cant time the market pumps.
Since my post on 5/20 – VOO up 5.65% and INTL up 6.49%
Better to keep averaging in, in multiple buys.
I have other buys of VTI that are down 5-6% – its hard to call a bottom – but keep averaging in and you will be fine.
Lib 10:08,
Perfect summary. I love the small government conservatives talking about expanding the govt with forces in every school…ok. High caliber weapons should be outright banned. Single shot guns…sure, go have fun with the second amendment. Of course all fantasy will gun nuts across this country. Let’s also not forget that the glorification also comes from having vast military. They are brainwashed into thinking gun is their best friend even after returning to civilian life.
For the record……
In August 2000 the accounting firm Arthur Andersen and its sister firm, Andersen Consulting, split after a rancorous battle over how much the consultants owed the accountants. Under an arbitrator’s ruling, the consulting firm grudgingly dropped its name, and on Jan. 1, 2001, became-Accenture.
So don’t tar Accenture with Enron. Also, even Arthur Anderson was entirely a industry leading firm. A cabal of scumbag partners in Houston created enough liability to bankrupt the firm. Plenty of hardworking NYC/London partners had their blood, sweat and tears equity nuked. Imagine being in your 50’s or 60’s and do nothing wrong, actually being a success, and being taken out by that…..
No one,
That’s why I believe in it so much. She has skin in the game…lots of it. She is not a con, she believes in what she is investing in. She is 66 years old, and that says a lot. Remember, I keep saying this, but everyone laughing at her and calling her an idiot are f/ing lemmings. She is more experienced and is extremely good at what she does. Just because the market took a tumble, it’s not her fault. I can’t wait till she shows people up once again, just like they were laughing at her in 2017. How many times are they going to laugh at her and then she proves them wrong? It’s wild.
“Wood, who is ARK Invest’s chief executive as well as chief investment officer, says she has “more than half” of her own IRA invested in the ARK business and its funds. But note that includes her stake in her fund management business as well as the funds themselves.”
https://www.marketwatch.com/story/ark-investors-have-lost-4-billion-we-believe-were-going-to-see-the-turn-sooner-rather-than-later-cathie-wood-says-11643829422
Just remember, she just survived a brutal downturn in high growth. She survived a massive… and I mean massive short attack by everyone and their mother. All these fools said her fund would go to zero….nope, she survived because she is good at what she does.
Desire to Short Cathie Wood’s ARKK Is Dropping Almost as Fast as the Fund
https://www.wealthmanagement.com/etfs/desire-short-cathie-woods-arkk-dropping-almost-fast-fund
Thanks, Chi.
chicagofinance says:
May 26, 2022 at 1:21 pm
Dude? It is a barely a 20% pullback over 5 months. Mostly in a straight line. No big blowups, and MORE IMPORTANTLY, no true sucker’s rallies YET. I’m not happy, but the grand scheme of things, this is a cake walk. Nothing has happened yet, let alone anything TOUGH. Only the naive and the stupid have been fucked…… but I’m sorry to say that will change soon.
Bill Hwang had skin in the game too, he blew up his own personal wealth. There’s nobody more dangerous in investing than someone who is constantly sure they are right about something. Because eventually they are willing to bet it all on something that it turns out they are wrong on. They are both religious people and religious investors it appears. Hwang provided initial funding in ARK. I wonder if he and Cathie have prayed together in the past. When people are so sure they are right, they don’t see the need to limit or manage risks, because they actually don’t think there is risk.
However, people with very high “conviction” are the best marketers because they tell their stories with great confidence. And convert people to their religion. They are the people who make the biggest wins when things turn out right, and they also create the biggest losses and blow-ups, because they don’t take precautions against being wrong. They are willing to jump into the volcano if the lord tells them to.
Wow, the husband of one of the teachers that died, passed away due to grief.
https://twitter.com/fuhknjo/status/1529870121023557632?s=21&t=tnAHPzQIU9qJM73syUFcNg
No One,
As a species, we wouldn’t be where we are today if there weren’t people that went all in on their convictions. Countless inventions were made by people like this. The latest…Elon Musk. He has risked it all in what he believes in….the result- electric cars will soon dominate the market.
Just because the market took a tumble, it’s not her fault
The markets are down 20%. She’s down 70 to 85% on every pick. The only way you could do worse is to go to zero. All of those gains you thought were real…completely wiped out.
BRT,
Say the same thing about Bitcoin since 2009….how many times did the cycle wipe it out? Higher highs/higher lows with maximum volatility.
If she is correct about her picks and they continue growing, then there will be higher highs and higher lows till the companies mature and die. She has continued to dollar cost avg into the entire downturn….she didn’t time anything. The lower it goes, the more she consolidates into her highest convictions. So if she is correct about the companies, there is nothing to worry about here.
Crazy!
“Oil at $112 despite:
– The Chinese economy effectively offline for a while, and global economies generally slowing down
– Risk assets taking a bath across the board
– Record releases from the US Strategic Petroleum Reserves
Admittedly impressive.”
Well will you look at that,Romney and Warren send Biden a bipartisan letter to Biden urging him to keep the China tariffs as they are not a driver of inflation.
Cats and dogs lying together.
Andrew Fletcher…rip
Anyone who names their fund after a holy object not only is not special, but is actually providing a clue into their lack of expertise. No knock on the old testament. But, it does reek of gimmickry. And again, her use of industry buzzwords was not fooling anyone with even a sliver of knowledge of investing. It’s actual a great lesson in Reversion to Mean. From worst to first to worst. If she had a clue, she would have realized that most of her success was not so much from finding disruptors but from jumping on the the short-term trend of people ignoring valuations (amid the backdrop of risk-inducing low interest rates) and shifting their shekels into momentum stocks. The market always returns to historical values. If it didn’t, the markets multiple would be near infinite by now. Somehow the P/E of the S&P500 is the same today as it was at some point in nearly every decade. Though it hit 45 during the tech bubble and 117 during the housing bubble it has once again begun it’s reversion to mean of around 20. And if you measure it by trailing ten years, it’s still 50% too high. Ms. Woods simply chased risk, much like a gambler. And lost, much like a gambler. I hardly see anything special there. In my opinion, Cathie should be locked up for steering so many innocent investors into funds that were sure to bust. And yet the village idiot here probably thinks Madoff was brilliant as well.
Lib, she has been in the market longer than you. Remember that. Just because you don’t agree with her strategy, doesn’t mean you should knock it. There are so many ways to play the market.
Just remember, what you are doing to her is no different than the individuals who screamed bitcoin is dead after every crash. They are doing it again to bitcoin as we speak.
Let’s see how it plays out.
You don’t “play” the market. You “invest” in the market. You “play” roulette or blackjack.
Long ago my wife had a procedure at a top local medical center performed by a surgeon with impressive palmares. A few days post surgery wife presented with a rare but serious complication which required her to be readmitted for a few days. During one of his PM rounds, doctor told my wife that he “prayed for her” with his family the prior evening. I was stunned by this admission. It seems so strange to me for someone at the top of his craft, much less a surgeon, to be religious or attribute any portion of the final result to something other than direct inputs.
Oh btw, this happened during my wife’s short stint in the public sector. I paid more for visitor parking than we did for two surgeries and a week inpatient stay.
I wonder how Gore and Gahan will react. They are private people.
The Great Pumpkin says:
May 26, 2022 at 3:48 pm
Andrew Fletcher…rip
Horrible, chi..he was only 60.
Grateful for all the music he helped create. “Enjoy the silence,” and may he rip.
Boomer,
I’m a spiritual person. There has to be more to life than meets the eye. It’s annoying when people mock religion because they need need living proof to believe. As if this world is not proof enough.
clot lives:
https://variety.com/2022/film/news/winnie-the-pooh-blood-and-honey-director-1235278405/
I can just picture Bill and Cathie praying hard af for futures to turn up.
Let’s see how it plays out.
That’s what we said to you 16 months ago. It’s already played out.
BR
I guess he was practicing both religion and medicine. Glad it worked out well.
“Sequoia Capital has a stark warning for its portfolio companies: Cut costs now.”
That’s what Sequoia said. What the founders should hear…
“Some of you may not get any more funds from us. Those who do should expect a down round.”
The vast majority of these founders have never seen rising rates. Many of them have only been around the period of free money. Newsflash for them: In liquidity constrained times reasonable companies do go to zero due to lack of funding.
“CBO says it will take until 2024 for the Fed to reach its inflation target.”
CBO feigns knowledge of dynamic scoring. I would trust my niece’s crayon drawings as a better predictor of economic outcomes than most CBO analysis.
leftwing,
I agree the CBO has probably never predicted any economic outcomes correctly, but I thought they were only allowed by law to ‘predict’ future outcomes based on the specific inputs given by Congress whether it’s about the overall budget or impact to it of some pending legislation… and of course those inputs can be biased or narrowly tailored more often than not.
Left: I find CBO much more credible than a lot of the other analysis out there. For instance, the Fed is done tightening, and next stop is cutting. Or, we will avoid a recession, or stock buy backs will save the market. CBO much more sober in my view.
Have a feeling we may already be in the first face ripper. No evidence, just a gut feeling.
“…oh looooook! You found a red herring.”
Agree, Ex, but the ‘intellectual rigor’ of that article is no different than the unsupported, analytically bereft emotional outbursts by others here of “less guns equals less deaths, it’s unquestionable”.
Best post by far on this topic is Lib’s at 10:08am…
Lib, I agree.
3b, I wrote an op ed in 2009 that said this:
In 2009, the deficit projection is now $9 trillion. That’s a $14 trillion swing from the $5.6 trillion surplus eight years ago. We should do ourselves a favor and stop acting like any of their projections are realistic. If Vegas were taking bets, the point spread would be another $7 trillion. As far as the CBO goes, Mr. Krugman says himself, the Congressional Budget Office operates under ground rules that force it to wear rose-colored lenses. We are royally screwed when a $9 trillion budget deficit is the rose-colored version. Maybe we should be preparing for a $16 trillion deficit.
I tossed an absurd number out there at the end and my gosh….
Libturd says:
May 26, 2022 at 5:32 pm
Have a feeling we may already be in the first face ripper. No evidence, just a gut feeling.
Not sure if I agree, but still…..
https://youtu.be/gYwL3SmcnB4?t=262
“…give gun freedom, but tax the shit out of it, like use tax, or registration fee, AR-15 for instance make $10K/year to own one. That would solve the problem off the bet.”
Riiiiighht….because any of those sociopaths who gun down innocent children will, on the way out of their house in whatever distorted mental condition they exist, pause and say “damn, I can’t go and slaughter all those people. I didn’t pay the tax on this weapon.”
JFC
Newsflash: Criminals lead a criminal life. Oh, and the mentally disturbed lead very disturbing lives.
6:21 one of the finest pieces of music ever recorded.
“There’s nobody more dangerous in investing than someone who is constantly sure they are right about something.”
Interesting, I’ll see if I can find it, but there is reporting from a year or so ago on CW that interviews people she used to work with…many comments like ‘conviction’, intensity, and ‘surety’ used in the sense of hard-headedness….I found it interesting as people in finance tend not to criticize former peers, especially former peers with significant AUM. She sounded like a real hot mess…
In looking for that article I stumbled on this summary…for anyone doubting how painfully average (or worse) CW actually is….
https://www.reddit.com/r/investing/comments/nabnrv/cathie_wood_deep_dive_into_her_20_year/
Take the source for what it is but the analysis is solid and fact supported. I mentioned a week or so ago that she had an MO of blowing up and then ‘resetting’ as the market declines with something ‘new’ that starts at that lower basis…author touches on that.
Someone above said regarding Montclair that ‘debt levels don’t matter if you don’t count debt service’.
For CW ‘share price declines don’t matter if you don’t count them in performance.’
LOL.
Lefty,
Thanks for that share.
Again it reaffirms my belief. If you get to buy cathie low, you will kill it, but you have to sell on her one good year in the cycle. Look at that data. Clearly shows you want to start buying with her on the low, and then jumping ship after the one big year every cycle. Seems like a winning formula. Esp with sark available to short when you sell the bull.
She has these big years that make up for the majority of losing years in the cycle.
Biotech 💪🏻…not for the faint of heart.
“Perceptive to clients re #biotech pain: “past 16 months has been the most challenging period” firm ever experienced. Has been a “crescendo of selling… clearly indicative of non-fundamental technical forces causing broad deleveraging and forced selling.””
DNA!
Humble Bee Bio is using bees to create bioplastics tcrn.ch/38owZLK via @techcrunch. Thanks for crafting the article @RebeccaBellan. We’re on a mission. Big kudos to all our research partners and investors for making this happen.
https://twitter.com/rhinoscience/status/1529940182819954688?s=21&t=tnAHPzQIU9qJM73syUFcNg
https://techcrunch.com/2022/05/26/new-zealands-humble-bee-bio-is-using-bees-to-create-bioplastics/
Telling you guys, this sector is the future. Everything can be made synthetically; from your organs to your car. Turning point in our species development.
“The team is using a synthetic biology approach that involves going into the bee’s genetic code and identifying the genes and proteins responsible for the nesting material. Humble Bee has extracted the code and is trying to recreate it in the laboratory. Next, the company will attempt to synthesize plastic-like materials, focusing on four different types of biomaterials that can be turned into fibers and finishing for fabrics.”
7:48 Ur telling me. Wife works for a huge Biotech. It’s like Game of Thrones there.
I really believe this is the decade of biotech. If your wife survives, going to be huge for you guys. Good luck!
Ex says:
May 26, 2022 at 8:22 pm
7:48 Ur telling me. Wife works for a huge Biotech. It’s like Game of Thrones there.
Never fails…
“This is the part of the crypto cycle that really shakes people out.
In 2018, $ETH went from $1400 to sub-$90.
The triple-digit returns attract people in, but usually only after they’ve already occurred.
Then, when risk is actually at its lowest, everyone flees.
Rinse & repeat”
Yup, it isn’t over until some heads roll…death of the weak is the bottom signal….
“Based on past experience, about 12 to 18 months. Companies that are inherently negative cash flow (ie value destroyers) need to die, so that they stop consuming resources.” -Musk twitter
Man, Ray Liotta and Andy Fletcher (Depeche Mode) dead.
How was that not mentioned already.
$10k/year tax could be imposed upon purchase, try buying a car, get a 3 year license, the cost would be $30K+gun for 3 year license,
legislature can do that for every state if needed. Not hard to do.
yeah illegals can still purchase, but 18 year old sickos would not buy it easily like candy pop
They were Grim.
Looks like you recouped all the value in her equity. Nice and n this environment.
Ex says:
May 26, 2022 at 8:22 pm
7:48 Ur telling me. Wife works for a huge Biotech. It’s like Game of Thrones there.
I’m still trying to process what happened yesterday. JCer, I’ll give you a point for putting your head above the parapet, but thanks to the rest of the blog for calling out that complete crock of BS you posted. Here is a question for you. If your AI Minority report flags “Danger Will Robinson, Billy Bob, is a high probability to commit ” What are you going to do with that?
Gary, if I thought you wanted a serious conversation on why Chicago and other cities have gun issues, I would have it with you. But it you would need to to acknowledge that the GOP is at the heart of the issue. From Bush letting the Assault Weapons ban expire to today, where the GOP Senators, killed the Domestic Terrorism discussion.
Oh we cant stop it! Maybe, but you can move to minimize the impact. Here is one. Immediate ban on 556 ammo. Take 223 to subsonic FMJ. Maybe that would have stopped those parents yesterday, after being told their kids were probably dead, from having to queue for a DNA test to identify their kids as their faces were shot off.
Anyone here who says that there is nothing here that cant be done, own a part of this. That blood is on your hands, you are part of the problem. I hope those Thoughts and Prayers to assuage your conscience?
Rubio and others, read the fcukin room!
https://twitter.com/atrupar/status/966500059499069442
And yes the hypocrisy of those small Gov Conservatives saying its a Mental Health Issue ( you putting any money towards addressing that?) or we need guards in the schools ( Umm, whoes paying) or the best, its the doors.
Remember this gem from our own back yard?
https://www.nj.com/bergen/2020/11/nj-man-who-sold-bulletproof-doors-to-schools-charged-with-selling-counterfeit-fireproof-doors.html
Fab, you’re an ass, you don’t like what I’m saying because you have no argument, no one presented a single valid counterpoint nor have I seen any workable policy suggestions. The reason Chicago and it’s ilk have gun problems is on the Dems. they are the ones with the bad policies around policing, criminal justice, and bail reform. Look at what is happening in NYC, criminalizing legal behavior while not enforcing the laws against the criminals is a recipe for disaster. Who do you think commits the VAST majority of inner city gun violence, I’ll tell you it isn’t the girls scouts. Clearly prohibition worked wonders for alcohol in the 1920’s and our war on drug has been really successful. Illegal hand guns are a problem but even if you were to stop the illegal guns from other states gangs and cartels will still get the firepower only the cost goes up, they are already smuggling cocaine what’s a few guns.
In the case of mass killings guns are the tool being used because they are easily obtained, and that’s not going to change even with the strongest gun control measures hunting rifles will always be allowed, someone intent on breaking the law, a suicidal maniac, will modify a hunting rifle with an illegal magazine without a second thought. If I shoot you with a rifle it almost doesn’t matter what it is, if it has the stoping power to take down a deer or a bear it’s going to fcuking kill you, you yourself said they were “shot in the face”, an ancient bolt action 22 will kill you if you are shot in the face. If guns were not an option you’ll see bombings and stabbings.
Your talking points are totally without merit and when holes are poked through them you shift the argument, is it assault rifles or hand guns? Do you want to ban semi-automatic weapons? Is the solution magazine sizes? What is the tangible solution? It certainly isn’t the “assault rifle ban”, that didn’t work when Anders Brevik shot and killed 79 people in Norway in the worst mass shooting ever.
As for the ML to identify potential offenders, it’s really quite simple. You get the person mental help and you make sure they do not have implements of harm(guns, bombs, etc). The intervene before the breaking point. It cannot happen in the US because it is clearly unconstitutional, which I know means nothing to the people on your side of the aisle but the law should be respected.
Given our polarization, tribalism and susceptibility to internet based psy ops, I simply don’t understand why assassinations are not a common occurrence.