From CNBC:
Housing wealth gains a record $1.2 trillion, but there are signs the market is cooling
Homeowners are in the money, and it just keeps coming. Two years of rapidly rising home prices have pushed the the nation’s collective home equity to new highs.
The amount of money mortgage holders could pull out of their homes while still keeping a 20% equity cushion rose by an unprecedented $1.2 trillion in the first quarter of this year, according to a new analysis from Black Knight, a mortgage software and analytics firm. That is the largest quarterly increase since the company began tracking the figure in 2005.
Mortgage holders’ so-called tappable equity was up 34%, or by $2.8 trillion, in April compared with a year ago. Total tappable equity stood at $11 trillion, or two times the previous peak in 2006. That works out to an average of about $207,000 per homeowner.
Tappable equity is largely held by high-credit borrowers with low mortgage rates, according to Black Knight. Nearly three-quarters of those borrowers have rates below 4%. The current rate on the 30-year fixed mortgage is over 5%.
The flipside of rising home values is that prospective buyers are increasingly being priced out of the market. Mortgage rates have also been rising sharply, putting homeownership further out of reach for some.
“It really is a bifurcated landscape – one that grows ever more challenging for those looking to purchase a home but is simultaneously a boon for those who already own and have seen their housing wealth rise substantially over the last couple of years,” said Ben Graboske, president of Black Knight Data & Analytics. “Depending upon where you stand, this could be the best or worst of all possible markets.”
Foist
second
Tappable equity. JJs autobiography
Feeling wealthy and being wealthy are two different things. I have equity, I feel wealthy, I borrow the equity and then have to pay it back. That’s not wealthy, just shifting around.
Most wealthy are not liquid and in fact take low cost loans against their equity…ask elon.
3b says:
June 7, 2022 at 8:19 am
Feeling wealthy and being wealthy are two different things. I have equity, I feel wealthy, I borrow the equity and then have to pay it back. That’s not wealthy, just shifting around.
Finally. Some good news to report:
“A Mexican model has decided to use the earnings from her raunchy social content to pay for a 17-year-old boy’s chemotherapy sessions.”
Workers don’t call the shots in a normal labor market….why this flies over your head is beyond me. It’s not about what the workers want, it’s about what the owners want.
And please continue making posts like this in the hopes your wet dream comes true and housing crashes. Have never seen someone so obsessed with housing crashing. I would love to know the source of this….how much money did you lose in housing? Or how much did someone make off real estate that you are consumed with jealousy and hate to the point you pray every single day for a housing crash in nyc? Please let me know what drives this obsession.
3b says:
June 6, 2022 at 8:10 pm
I learned something new this weekend at a wedding ironically enough. As we know many women are choosing to limit the amount of children they have or not having any at all. For those that announce they are not having children, they have puppy showers, and those invited have can choose gifts from a registry. Insane in my view, but apparently it is a thing.
The crowd age wise was from Gen Z to Boomers, and for those not retired most of them are all working either remote or hybrid combination, and they all love it. No one wants to be back in the office 5 days a week. For those that do the office the ideal seems to be 3 at home and 2 in the office. There is no going back to the 1950s and antiquated offices. There is simply no need.
$1.1m current value my place. Paid $740k ….5 years
8:52 i disagree. Skills, demand, and budget … the rest is BS.
Employers will through big money and even….gasp…wfh at people they want/need.
“Throw” oops
Ex: Exactly. The wedding I was at over the weekend was for a retired GS partner’s daughter. There were people from all corporate backgrounds there, including the people who make the decisions ; not just the rank and file employees. Hybrid/ remote is here to stay, some Wall Street firms will be dragged kicking and screaming to that reality, but the old guard, like Dimon at JP Morgan, and Moynihan at BOA will eventually be gone, and it will be the younger generations leading those firms and others. There is no going back to the old full time office days.
Workers don’t call the shots in a normal labor market….why this flies over your head is beyond me. It’s not about what the workers want, it’s about what the owners want.
The exact same reason we need to remove the union from the teachers. So we, (taxpayers aka owners) can tell the workers what we want instead of the other way around.
Are you okay with that pumpy? Or are you just a plain old hypocrite?
3b
I agree-the youth is attempting-and succeeding-at moving the chains down the field. What they don’t realize is if they organized better the plays would be long passes vs four and five yard runs.
In my field employers are back “threatening” employees for various things that are totally irrelevant. I don’t understand what Boomer is trying to do. It’s not going to end well-these kids will bail right when their employer needs them the most.
It’s all about leverage.
What’s the difference right now….we are basically running on a 100% union workforce right now. So just as much as I am a hypocrite, so are the people making all these demands yet bash the teachers union. Human nature is one big hypocrisy….always has been, always will be.
Phoenix says:
June 7, 2022 at 9:25 am
Workers don’t call the shots in a normal labor market….why this flies over your head is beyond me. It’s not about what the workers want, it’s about what the owners want.
The exact same reason we need to remove the union from the teachers. So we, (taxpayers aka owners) can tell the workers what we want instead of the other way around.
Are you okay with that pumpy? Or are you just a plain old hypocrite?
Fast Eddie took the Clifton train in to the office this morning at peak commute time. Most here know how big that Clifton lot is for parking. I’ll give it a 30% full status as the train pulled away. I can’t see the trend reversing on commuting.
Lotto . . .
They should change the powerball game so that you are choosing 7 numbers (instead of 6) from a field of 99 numbers (instead of 69). Then, the jackpots would be minimum of $1B, and might reach some crazy $10B+ numbers for big jackpots.
Current odds are something like 1:300M. Seems more interesting to make it 1:1B and just have constant $1B+ jackpots.
They haven’t lowered the odds of winning since 2015, but they do so every so often to increase interest in the game.
“So just as much as I am a hypocrite”
Some animals are more equal than others right PUmpy?
In all honesty, have things been great the past 2 years or worse than pre-pandemic in terms of buying products and services?
This labor market has really hurt our economy. Have to be blind to not see it. No one wants to work, even the management. Work ethic has gone to chit.
The pendulum has swung too far in the other direction now….it used to be too far in the owners direction, but now they have lost complete control. I would not want to be a business owner in this environment. No way, no how.
Phoenix says:
June 7, 2022 at 9:30 am
3b
I agree-the youth is attempting-and succeeding-at moving the chains down the field. What they don’t realize is if they organized better the plays would be long passes vs four and five yard runs.
In my field employers are back “threatening” employees for various things that are totally irrelevant. I don’t understand what Boomer is trying to do. It’s not going to end well-these kids will bail right when their employer needs them the most.
Phoenix: The powers to be screwed the younger generations, and part of that now is the fact that it takes 2 incomes to pay for the same house that took one income not too long ago. The boomers never had to deal with that for the most part. Now the younger generations are demanding and getting hybrid/ remote to balance work and family life . The old timers can’t have it both ways.
The public sector unions have had all sorts of goodies for years, like pensions and cheap health care plans, and all those days off. The county employees get Lincoln s birthday off, In addition to Presidents’ Day. It’s never enough for them.
Employers are paying over market for half ass workers right now (just hire someone yourself to do work around the house and see the rip off first hand…that’s if they even show up). It’s horrible. Good amount of inflation is from this. Paying workers top dollar to sit at home and work minimum hours. They aren’t trying to get better and learn to move up, they are content with being overpaid while getting to WFH. All they have to do to get paid more is not get better at the job or improve their skills, but just quit and get another job.
Will see what happens…will the labor market ever loosen? Going to be tough as boomers are retiring by the day. People not afraid to lose their job, and knowing they can threaten their boss by quitting is a recipe for mediocrity. Bad time for businesses.
So they get Juneteenth?
Fucking stock market closed on Monday 6/20. Total crock.
In 1955 (a year that lefties love to hate, imagining that the US was in full repressive racist patriarchy), US total debt to GDP was about 300%, which includes all government and private debt. Now it’s over 800% total debt to GDP. With everyone from government to households eagerly trying to “tap” whatever credit they can get, borrowing their way to prosperity. Watch out for the day we get the message “account overdrawn”.
ceicdata.com/en/indicator/united-states/total-debt–of-gdp#:~:text=United%20States%20Total%20Debt%20accounted,833.8%20%25%20in%20the%20previous%20quarter.
You are so consumed with jealousy it’s not even funny. I love hearing the jealous hate you have for teachers. All about helping people out I thought? Talk all this chit about helping the younger generations and workers, but then you bash teachers you hypocrite. Make up your mind.
Only reason you support WFH and the worker becoming weak….due to your wet dream in the hopes of deflating our economy and making real estate cheap again. Dumbass, the only thing WFH is doing is driving up the price of houses.
“The public sector unions have had all sorts of goodies for years, like pensions and cheap health care plans, and all those days off. The county employees get Lincoln s birthday off, In addition to Presidents’ Day. It’s never enough for them.”
So much savings from WFH….right, like paying out the ass for housing now. How are those savings going? And dumbass, you can get rid of commercial property….not going to hurt commercial landlords as they will convert that property to residential. Who gets hurt when that happens…all the property owners as the commercial property tax base will be shifted to residential. Wake the f up dude. WFH does not end well….it’s only good in the short-term, long-term consequences are bad for everyone.
Chgo: I believe Bergen county workers get Juneteenth as well. I don’t care how many days they get, but it’s the constant moaning and complaining about how tough they have it in the public sector.
The study examines eight major cities (Atlanta, Austin, Charlotte, Chicago, Los Angeles, Miami, New York and San Francisco). In these cities, commercial real estate accounts for an average of 37% of property taxes, ranging from 26% in Los Angeles to 56% in Atlanta. The researchers used data from the Bureau of Labor Statistics Quarterly Census of Employment and Wages to track employment changes in 2020 by city and industry and to estimate the direct effect of the COVID-19 recession on the demand for commercial space. The report includes a full explanation of the methodology, which includes use of a specially developed comprehensive database on city finance.
Cities that rely heavily on property taxes will see bigger declines in revenue because of depressed commercial real estate assessments. Larger cities in the report’s sample (New York, Los Angeles and San Francisco) have more diverse revenue streams, while smaller cities (Austin and Miami) depend more on the property tax. Because of relative dependence on the property tax and a large share of commercial property, the researchers estimate Atlanta would have the largest revenue decline (5.7%). The lowest predicted revenue declines are for Los Angeles and Charlotte — between 1% and 2%. The Charlotte results reflect the city’s economic strength, a relatively small share of commercial property tax base at risk from working from home and a low share of the property tax in total revenue. For Los Angeles, the lower forecasted impact is principally a reflection of the low share of commercial property in the tax base.
Diversified revenue structures, such as income taxes in New York and state aid in San Francisco, provide some insulation from fiscal shock. By contrast, cities in Texas and Florida, where state aid is low and property tax shares are high, will need to reevaluate their fundamental fiscal stance, which is based on no state income taxes, the researchers conclude.
Plenty of houses/ estates available in the Hamptons for anyone who wants to run out there and pick one up.
3b,
Boomers got to pay 16% mortgage rates for a while. Boomers got drafted and sent to Vietnam. Boomers waited in lines for gasoline.
Blaming a generation is intellectually lazy and very imprecise. Sounds like spoiled kids blaming their parents for what’s going wrong in their lives. Identify the ideas and policies you don’t like, and fight them. Bad ideas and bad policies were on the way way before “boomers” got here. “Boomers” didn’t invent central banking, fiat money, tax & spend policies. Some boomers were against bad policies, some were in favor.
I’m supposedly part of Gen X btw, but I certainly don’t think like the majority of them, or of any demographic group. In Florida there are a lot of older boomers around me, (mostly wealthy and successful ones, pro-liberty types, otherwise they wouldn’t be where they are) I’d much rather be around them than the sort of intolerant woke red guards I see coming out of college now.
“Hybrid/ remote is here to stay, some Wall Street firms will be dragged kicking and screaming to that reality…There is no going back to the old full time office days.”
Yes, but what these new workers need to remember is while Wall Street is ‘established’ at its core it is agnostic and brutally efficient.
So, while they will have their preferences in any matter, once the sands shift they will move at least as quickly and they will find the new soft spots to cull and the new opportunities to exploit to make more money.
Second year analysts at respectable but not particularly great firms bang down $250k plus last year. For the year starting 12 months from the date they were handed their undergrad degree.
When Wall Street buys into WFH those twenty-three year olds may want a mulligan when their jobs are put out to lower bids nationally…but by then it will be too late.
Because be assured, the group and collective VP through MD compensation will not go down….
No One, I understand that. It’s more to make a point, that it’s time for Boomers to exit and not hog center stage. Just look at all of our politicians and how old they are.
Even among Boomers there are the old boomers and the tail end boomers, also known as Generation Jones. They paid the 16 percent mortgages for a while, but then got to refinance. However, they got shafted too, with the elimination of corporate pensions and the whole sale destruction of our manufacturing base. Those decisions were made by the older boomers who were running the show, and in the case of many of our politicians are still running the show.
Every generation, has its good and bad, but I believe the boomers have a lot to answer for.
“So they get Juneteenth? Fucking stock market closed on Monday 6/20. Total crock.”
Black Monday foe show.
“You are so consumed with jealousy it’s not even funny.”
No, you are just a hypocrite, and are being called out on it.
Imagine giving up all this to work from home.
-Corporations paying a huge chunk of property taxes.
-Open up said jobs to global competition instead of location based competition.
-Paying for your AC and heating costs while you work for your employer.
-Paying for your own food while you work for your employer.
-Paying for a bigger house so that you have space to work for your employer.
-Paying for office furniture for your employer.
-Wearing out your home while you work for your employer.
3b, if you really cared about the younger generation, you would never advocate this for them. You would help them see the light. They are f/ed down the line, they just don’t have the experience or foresight to see it.
Show me one individual that is not a hypocrite….so call out the others too.
Phoenix says:
June 7, 2022 at 10:25 am
“You are so consumed with jealousy it’s not even funny.”
No, you are just a hypocrite, and are being called out on it.
“Fucking stock market closed on Monday 6/20. Total crock.”
I went on my Android and hard entered major holidays to recur annually and then deleted both the Samsung and Google holiday calendars…
Neither app allowed me to edit their pre-selected dates and I got tired of looking at every woke micro-celebration.
I think it was left-handed, trans but not queer, AAPI but not Hawaiian week starting last Monday….
“65 days Pumpkin-free”
Primary Day in NJ today . . .
https://newjerseyglobe.com/campaigns/10-local-races-worth-watching-today/
What is better, a high interest rate on a house with a lower price, or a lower interest rate with a high price?
I’m no MBA, but it seems to me I’d take the high interest rate with the lower price.
I can hustle and pay off the loan. I may (should things change) be able to refinance and lower my expenses.
But when I overpay, nothing can change that.
What were the house prices back then compared to today, and projected in the future? Will a house you bought today go up 30x what you paid for it like it has in the past?
Boomers have no humility or shame in them. I work with young people all day who are wiping boomer azz with bachelor’s degrees that can’t afford to buy one of the six homes boomer overpriced to them. These young women want to start families but boomer greed makes it hard for them and the young men they date to even get off the ground.
Then you have the parasitic public workers or spouses of them (who snag the healthcare bennies instead of paying for them using their private business) that complain about the youth.
Pumps,
The thing about you is that you are so arrogant and narcissistic – I think if there was a time machine you would enjoy being a slave owner as long as you profited.
“To be clear Lefty. Nothing was handpicked. I assumed it, looked it up and the data met my assumptions. 1776 had 4 gun homicides. Most years had none at the time the bill of rights was written.”
Dude, if what you are trying to continue to argue is that you looked at the number of gun deaths in 1776 and produced a homicide ratio and then looked at gun deaths 250 years later and produced a current homicide ratio and, seeing that the new ratio greatly exceeded the old ratio, concluded that it was the increased efficiency of weapon design evolution over two centuries that accounts for that change….I honestly don’t know what to say. I will have lost every shred of the substantial respect I have for you. Just stop.
Left: Yes , and I agree. Wall Street firms before the pandemic have been geographically dispersing their workforce nationwide as well as overseas. And, they are always looking for ways to cut costs and save money. Technology that enables hybrid wfh will continue to evolve, it can’t be put back in the box. My point is that the belief that if you are in the office your job is somehow safe is nonsense. If your position/ function can be eliminated it will. What has changed however, is that a position available in the NYC office may now be filled anywhere in the country, and from there perhaps overseas. I have over the years seen whole divisions outsourced overseas.
When the younger generations take the reins of power, they too will do whatever it is they ultimately plan to do. But, I don’t ever see it where it’s everyone back in the office 5 days a week like the old days.
I believe ultimately this will hurt big urban areas like NYC that will no longer be able to dictate salaries. What happens to all that office space? Conversion to apartments? Yes for some, but I have friends in the building trades who tell me those conversions are difficult and expensive, and in many cases it’s cheaper to tear down and rebuild.
Who knows how it will all turn out, but if nothing else , I thinks it’s more than reasonable to say things will never be the same work wise.
Phoenix: I agree. Once you overpay, you will have always overpaid. You can’t refinance the house price. I remember a friend of mines older sister bought in one of those leafy prestigious Bergen co towns in the early 80s, with a double digit mortgage rate. The house price was 80k. They were both accountants and they buckled down and made the monthly payments. Rates fell and they refinanced and the rest is history. They got rid of the mortgage in a few years. Young people today will never have that opportunity.
I’m no MBA, but it seems to me I’d take the high interest rate with the lower price.
Price is everything. I don’t give a flying fuck what the the interest rate is. I’d rather sign a pact with the devil than give fat Mary Muppet more than she deserves for her dump with the Pall Mall and dog p1ss aroma.
This is Anti-American. But then again corporations don’t have any loyalty to anyone- people (lives) in America don’t count anymore-of course, it’s corporate mentality that dictates this. Profits over people.
Police chasing a stolen car worth 2000 dollars and it crashes into a minivan full of kids. Bet those kids would like to have their sister and mother back-to be able to walk again- would pay the 2k- but hey, we got the guy who stole the car.
Just admit it, America’s true core is Money > Life.
And stop with the stupid “prayers” on FB everytime something bad happens. Deep down you don’t give an F- you just want to make everyone online actually think you do.
“Wall Street firms before the pandemic have been geographically dispersing their workforce nationwide as well as overseas.”
“at its core it is agnostic and brutally efficient.”
United we stand, divided we fall.
Well, becoming more and more divided every day.
So when do we fall? Does it happen all at once? Should be interesting in a country with hundreds of millions of guns when it cuts loose.
BTW,
Just a thanks to Delta Airlines. My ex, in her usual fashion, managed to mess with my vacation plans.
A nice rep helped me undo the damage-but my ex was still able to steal 3 days vacation from us. Worthless court systems, police and lawyers.
But a lowly Delta agent was able to salvage some of it. Don’t know their name, but still a thanks. They have earned my business in the future.
Leftwing,
My argument is about the need for the right to bear arms. You may be missing my logic. And whether or not it would have been written into the constitution if they had a clue as to what problems it would eventually cause. Our constitution was both written to be difficult to change, but to allow it. I’m not a moron. I know this is extremely unlikely to happen.
Again, is a nuclear weapon an arm? Or a bio weapon? Because at the time the right to bear arms was established, the arm only shot one bullet a minute. Where do you draw the line?
Phoenix,
I tried explaining math behind Price vs. interest rate and future to people in 2008. No one wanted to hear it. They were like “but the rates are so low!!!”. Well, they went lower. Purchasing in 2011, got me a good price and refinancing during the artificial lows in interest rates last year was the winning combo. My payment is the same, and I finish paying it off 5 years earlier. No money out of pocket to do so as I rolled the costs into the mortgage.
” The old timers can’t have it both ways”
That is exactly right, 3b. These kids paying 50% more than 2 years ago are screwed and don’t even know it. Someone has to be there for kids. It can’t just be a nanny. If boomers wanted top dollar for home then two people will need to work. I am fearful what will become of Alpha gen. My wife can barely keep on top now as SAHW. The schedules are brutal if trying to keep kids active. Also, who is checking homework? Anyone? It all matters in long run. The Rs love to quote Bill Maher (which he jokes about) but his Tik-tok segment on older teens was brutal. Who will watch the kids?
https://www.youtube.com/watch?v=6dMOfwUP0F0
“My point is that the belief that if you are in the office your job is somehow safe is nonsense. If your position/ function can be eliminated it will.”
Agree. But I would add the caveat that there is no reason to voluntarily accelerate that personal decline. There is a reason people and corporates keep some information very private…Why stick your head up out of the foxhole and risk having it blown off? Especially when the foxhole is not a hole but a pretty plush setup…Some of these kids aren’t just poking their heads up, they are printing flourescent targets on their foreheads, jumping up and down, and blowing an airhorn….
“But, I don’t ever see it where it’s everyone back in the office 5 days a week like the old days.”
Agree, but that does not insulate any one individual from unintended adverse consequences they failed to consider in supporting a WFH/hybrid move….
“I believe ultimately this will hurt big urban areas like NYC that will no longer be able to dictate salaries. What happens to all that office space?”
Agree here as well. One step further, let’s assume that days employed in the city (employees times number of in-office days) doesn’t change with WFH…Not a realistic assumption but roll with it. At the very least those days employed are going to be with lower paid workers than currently. Where am I going with this? Factor in fewer days employed with lower pay per day worked and small businesses are going to be absolutely crushed, as well as smaller storefront landlords…you have some favorite haunts that have been around for a while? Visit them soon….
Lib, and again, lines have been drawn….automatic weapons, bump stocks, clip sizes…
Nothing is frozen in time and, yes, the Constitution anticipated that and not just with respect to the 2A.
So, follow the rules of the road and get it changed.
Problem is the Left start with the conclusion – I personally don’t want anyone else to have something with which I disagree and my opinion is what matters – which is nothing more than some weird summation of their fears, desires and misinformation. And then they go about every manner of trying to impose their (misinformed) personal views on everyone else.
Get 61 votes in the Senate, the House, and the Presidency and pass something. Or don’t. Or work it through the States. Those are the options.
But don’t presume a right to impose asinine, misinformed personal viewpoints on tens of millions of responsible law abiding citizens nationally because of your fear or desire.
I am really sick of these self righteous, lecturing, lecherous liberals and their arrogant presumption of the truth of their farcical beliefs and opinions.
Left: I pretty much agree with all you point out, where I disagree is whether or not WFH accelerates the negatives. If your job/ function is gone it’s gone regardless of in or out of the office. We shall see where it all goes.
As for some of my favorite haunts many are gone and have been for a while. My favorite was the Post House on 65th street between Lex and Park. A steak and chop house. It was closed because of changing culinary tastes. Too bad . It was a great spot.
Haha, I almost recall this conversation from years back…Post house, hands down my favorite NY steak house. Major loss.
Eventually someone will come up with a whole life subscription service.
Own nothing, have no equity, put all your salary into a lifestyle subscription service which provides you with a place, food, transport, entertainment, clothes, laundry, girlfriend/boyfriend, vacation, bots to like your social media posts, etc.
With a 100% markup of course, but you don’t have to plan anything, think about anything, or look up from your phone. Just decide between budget, standard, premium, or premium plus.
Left: It was my favorite! The food, including the creamed spinach, the wine list, the atmosphere, and then to the bar there for after dinner drinks. I never paid a dime, we were wined and dined there back in the day. It was legendary.
Bystander: As you know I have been saying this for some time now. The young generation got screwed. I feel for them. I am grateful my wife got to stay home and be with our kids when they were young. I think the Millenials/ Gen Z should have the same opportunity if that’s what they want. I can’t imagine the stress of having two full time jobs and trying to balance family life/ school, homework, activities. No wonder so many are stressed.
Look at you. WFH workers will never get to experience this.
The future is going to be one lonely place…
3b says:
June 7, 2022 at 12:38 pm
Left: It was my favorite! The food, including the creamed spinach, the wine list, the atmosphere, and then to the bar there for after dinner drinks. I never paid a dime, we were wined and dined there back in the day. It was legendary.
Please explain how WFH does not accelerate this…I’m all ears.
3b says:
June 7, 2022 at 12:32 pm
Left: I pretty much agree with all you point out, where I disagree is whether or not WFH accelerates the negatives
“Get 61 votes in the Senate, the House, and the Presidency and pass something. Or don’t. Or work it through the States. Those are the options.”
And thats where your hypocrisy kicks in. People are calling for that, but you scream My 2A rights or “Prove to me it would work”.
Which is it? Your buddy with the side by side in NYC, is stuck there because of what the state passed.
But hey, do nothing and thoughts and prayers will solve the issue. At least you don’t need a law passed for a PSA. https://twitter.com/SteveSchmidtSES/status/1534161467288670208
And think about college experience based on WFH. Imagine going to college and not experiencing the best part about it. Only contact you have with your fellow students is through zoom. That’s what we are doing to our lives.
And the garbage argument “oh but a shotgun”. Las Vegas would not have had over 600 dead and injured if he was shooting a shot gun out that hotel window instead of the 18 ARs.
How soon until we see one of these roll up to one of these protests.
https://twitter.com/RonFilipkowski/status/1533934194467946496
“But don’t presume a right to impose asinine, misinformed personal viewpoints on tens of millions of responsible law abiding citizens nationally because of your fear or desire.”
2000 Mules? Stop the steal?
It’s really not a fear. Maybe a desire that I see as common sense? But of course, our views on regulation are similar enough and we both know nothing is ever enforced anyway. And again, I know my position is cockamamie, kind of like splitting the US into blue and red countries of their own?
Talking about changing the college experience to remote. Why should college experience be in person if the jobs are remote?
Big mistake by the US and the West in seizing the Russian assets in response to the Russian invasion of Ukraine.
For years, Russians (and Chinese, and other shady dealers around the world) had the following calculus: “I have $50M in wealth, but it is subject to the whims of the absolutist system I live in – whether Putin, Xi or whoeveer else tinpot absolutist that I need to kowtow to. I am willing to take 0% returns on $10M of it, indeed I’ll pay 10% or 20% off the top to get 0% slightly negative returns as long as I can put it somewhere safe. I need that couple of million to be there if I fall out of grace with the regime and I need to run. Ideally, maybe I can even get my kids out of the country and out of easy reach of the regime, too, ahead of any trouble that might arise someday. Manhattan apartment or London apartment – perfect, those Westerners respect private property rights.”
Out the window. Your wealth is never really safe.
The J6 hearings are going to be lit. Seth Abramson gave a little preview of part of it. I want to know who built the gallows on the mall?
https://twitter.com/SethAbramson/status/1532020392319143936
(🔐) NEW at PROOF: A massive report on Ali Alexander and the Proud Boys that will forever change how you think about January 6. When you find out what their real plan was for that terrible day, I hope you’ll share this report as widely as you possibly can.
Kill lists, a provisional government, a tent city holding “millions and millions and millions and millions,” sanctioned looting and riots, a refusal to evacuate without presidential proclamation, impromptu kangaroo court trials, a theocratic governing committee—you’ll be stunned.
And when you realize that Donald Trump *handpicked* Ali Alexander—a convicted felon and known Christofascist—to not only lead the march on the Capitol but do so in simultaneous constant contact with the Trump campaign and far-right extremist paramilitary soldiers…it’s ballgame.
What Ali Alexander, the Proud Boys, the Oath Keepers, and GOP state legislators did in 21 days of planning was terrifyingly extraordinary. Keep that in mind when you consider that they now have four years to prepare for the 2024 election and another—far more complex—coup attempt.
^And, to wit, Canada doubles down on this lunacy by threatening or by seizing the banked wealth of certain people for political speech.
Over moderately disruptive protests (featuring bouncy inflatable castles for children) in response to overbearing and unprecedented government overreach.
Libturd,
I don’t think the second amendment means what the NRA says it means.
Conservatives talk a lot about the original intent of the writers of the constitution, but surprisingly, this paper from someone’s Master’s thesis is the best paper I could find on original intent. It argues that the context of the second amendment was about whether militia service would be required, and whether states or federal government would be in charge of militias. And whether standing armies should be forbidden. Basically, they decided the federal government shouldn’t prevent state governments from forming militias. There was apparently no debate about what individuals should or shouldn’t be allowed to own a gun (and gun ownership was probably ubiquitous at the time, given the need to hunt, protect from animals and other threats, and given how many rifles people had for use in the revolutionary war.
If anyone has historical documents of the founders discussing the individual’s right to own guns, I’d like to see it.
Here’s the link to the pdf of the paper.
https://shareok.org/bitstream/handle/11244/9064/Campbell_okstate_0664M_12057.pdf
The middle doesn’t care about J6. The polls tell us that. We have crises everywhere you look. The committee is all partisans and members with an axe to grind. Their propaganda show is meaningless outside of their base.
And sedition was bama conspiring with the dnc, Clinton campaigns and corrupt intelligence people to frame an incoming president. Someone should hang for that.
Thanks No One.
I know my theory is far-fetched. But it makes a hell of a lot of sense to me. My question still stands for everyone. What is an arm? It is too ambiguous.
“to keep and bear arms in order to maintain a well regulated militia.”
Great, join a militia and get a musket. I don’t know where or who this translates to, “I need a gun that fires off 180 rounds a minute so I can defend myself?”
“in order to maintain a well regulated militia.”
So this part is completely ignored today.
“The middle doesn’t care about J6.”
Everyone in the country SHOULD care about J6.
I’m sliding into the absurd to respond to a Fabius post but, on the Capitol Riot . . .
He posted someone asserting that J6 participants intended to install a “provisional government.”
If anyone believes J6 was meant as a real insurrection with a real plan to overthrow our current government . . . I simply note that the rioters did not discharge firearms either at all or not much. J6 was certainly a right-ist movement (fringe right, far right, whatever it was certainly right of center) and the right is the better-armed side of the political spectrum. But, hardly and guns used that day.
If I understand correctly, there was one firearm homicide – a capitol officer shot one rioter. If J6 people were intending to take power and keep power, surely some firearms were necessary, no?
For sure, some of the whackos there that day likely intended all kinds of grandiose plans. But, from what I saw in the videos, it was mostly people, including old ladies, walking into the Capitol and taking selfies or pics of themselves with their feet on Pelosi’s desk. Some people urinated on Congressional property. Video of rioters linked below. Hard to reconcile that video with the words that the left throws around – “insurrection” and “treason”.
Why did the rioters go in there? For some whackos, they probably think the Dems stole the election with millions of dead voters, computer hacking or whatever. For more reasonable people, I’m sure they have anger that Dem Governors were changing long-established ways of voting (universal vote-by-mail, rather than in-person) in response to NONSENSE. (With “nonsense” from a right-of-center perspective being the selective and politicized overreaction to covid).
https://www.youtube.com/watch?v=y9WPuA6EUaw
Fabisu,
Thanks for that Twitter link above. Those lefty Twitter posters are hilarious! Angry, ugly and lost. I almost feel guilty enjoying it. Lol.
Lib: The whole system is corrupt from top to bottom, that’s why people don’t care. The faux angst and outrage from one side or the other depending on the topic is disgusting. My side does it, it’s Ok, your side does it it’s an outrage and our democracy is at risk. Our democracy has been at risk for years now, and people just don’t seem to care anymore.
Until we get a viable 3rd party, this is how it will be until it collapses.
I care but we have much bigger problems.
We have no leader and are still hurtling toward world catastrophe. We’ve replaced merit with quotas and have lost competitiveness. Many kids can’t tell the difference between a boy and a girl. We’ve given deference to criminals and the mentally ill. We’re about nearly a generation annually and replace them from the third world. It looks for our social breakdown frankly that the civilization has peaked. That bothers me.
1:29 . . .
I hold varied political views. I hold leftist views on some economic policy – I think there can be smart and well-designed leftist economic programs. I side with the left on personal rights (a stronger Bill of Rights on speech and due process). I side with the left on consumer protections (currently cheering right-to-repair in NY State). I side with the right on a whole bunch of other issues. I’ve voted D, R, and Liberatarian in Presidential elections and a very mixed record in down-ballot races.
I don’t care, at all, about J6 in a negative way and I feel that the left is gaslighting when trying to play up how big of a deal it was. From my perspective, a lot of centrist voters feel the same way. We’ll see in 2022 and 2024.
I think we already saw in November 2021 that the D’s were not getting much traction from J6.
I see it as a legitimate political protest. Anyone who hurt someone during it should be criminally tried for assault. Anyone who broke property should be criminally tried for desturction of property. But, with regard to trespassing or disorderly conduct, if I was a judge, I would say the First Amendment overcomes a trespassing or similar charge for J6 rioters.
Crushed. It wasn’t an insurrection. Though, there was definitely a plan to throw a bunch of shit at the wall to see what will stick. If somehow they could delay the ratification of the election results, then it would make the whole theory that the election was stolen seem more plausible to a crowd that really, really, really wanted it be plausible. I don’t doubt for a minute that Trump was behind it or at the minimum had knowledge of the plans to delay the ratification of the election results. Heck, he hinted at it, but at least was smart enough to not say exactly what the plan was. Just a big surprise.
But in the era of no compromise, the Dems will push the insurrection story and the Repubs will push the, it was an unplanned protest story. As usual, the truth is somewhere in the middle. And yes, that old lady thought she was called up to bid on a showcase on the Price is Right.
Yet, even the haters/wonks here can have a semi-intelligent conversation on so many issues. Why can’t our politicians?
Language of the Second Amendment . . .
“A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.”
Interpretation can always be political and subjective. But, from a reading English perspective, this sentence’s meaning starts with “the right of the people . . . .” From a reading English perspective, the part about the militia doesn’t change much about the meaning of the sentence.
Biden’s student loan debt forgiveness plan pushed back to late summer to coincide with the resumption of payments. My guess is he goes big now on forgiveness, more than 1ok, as close to mid term elections. What a country!!
Lib: Because something meaningful might actually get done. It’s all or nothing now, press the buttons, rile up your base and on we go.
Tapping that equity made me think of that terrible song WAP. So I took a look at the lyrics and I think there’s a subliminal message about borrowing and lending in it.
Borrowers in this house
There’s some borrowers in this house
There’s some borrowers in this house
There’s some borrowers in this house (hol’ up)
I said certified freak, seven days a week
Wet ass equity, make that pullout game weak, woo! (Ah)
Yeah, yeah, yeah, yeah
Yeah, you lending with some wet ass equity
Bring a bucket and a mop for this wet ass equity
Give me everything you got for this wet ass equity
Beat it up, agent, catch a charge
Extra large and extra hard
Put this equity right in yo’ face
Swipe your nose like a credit card
Hop on top, I want a ride
I do a kegel while it’s inside
Spit in my mouth, look at my eyes
This equity is wet, come take a dive
Tie me up like I’m surprised
Let’s role-play, I wear a disguise
I want you to park that big Mack truck right in this little garage
Make it cream, make me scream
Out in public, make a scene
I don’t cook, I don’t clean
But let me tell you, I got this ring (ayy, ayy)
Gobble me, swallow me, drip down the side of me (yeah)
Quick, jump out ‘fore you let it get inside of me (yeah)
I tell him where to put it, never tell him where I’m ’bout to be
I run down on him ‘fore I have a agent running me
Talk yo’ shit, bite your lip
Ask for a car while you ride that house (while you ride that house)
You ain’t never gotta lend him for a thing
He already made his mind up ‘fore he came
Now get your boots and your coat for this wet ass equity
He bought a phone just for pictures of this wet ass equity
Pay my tuition just to kiss me on this wet ass equity
Now make it rain if you wanna see some wet ass equity
Look, I need a hard hitter, I need a deep stroke
I need a Henny drink, I need a weed smoker
Not a garden snake, I need a king cobra
With a hook in it, hope it lean over
He got some money, then that’s where I’m headed
Equity A-1, just like his credit
He got a beard, well, I’m tryna wet it
I let him taste it, and now he diabetic
I don’t wanna spit, I wanna gulp
I wanna gag, I wanna choke
I want you to touch that lil’ dangly thing that swing in the back of my throat
My head game is fire, punani Dasani
It’s going in dry, and it’s coming out soggy
I ride on that thing like the cops is behind me (yuh, ah)
I spit on his mic’ and now he tryna sign me, woo
Your honor, I’m a freak bitch, handcuffs, leashes
Switch my wig, make him feel like he cheating
Put him on his knees, give him some’ to believe in
Never lost a fight, but I’m looking for a beating
In the food chain, I’m the one that eat ya
If he ate my ass, he’s a bottom feeder
Big D stand for big demeanor
I could make ya bust before I ever meet ya
If it don’t hang, then he can’t bang
You can’t hurt my feelings, but I like pain
If he lend me and ask, “Whose is it?”
When I ride the house, I’ma spell my name, ah
Yeah, yeah, yeah
Yeah, you lending with some wet ass equity
Bring a bucket and a mop for this wet ass equity
Give me everything you got for this wet ass equity
Now from the top, make it drop, that’s some wet ass equity
Now get a bucket and a mop, that’s some wet ass equity
I’m talking WAP, WAP, WAP, that’s some wet ass equity
Macaroni in a pot, that’s some wet ass equity, huh
Crushed. That NONSENSE has still kept me and my five family members Covid free. I kid you not, at the D’s learning center, where there are 20 kids and about 30 staff members, D and two other kids were the only one’s not have caught Covid simultaneously about three weeks ago when the Omnicron was peaking in these parts. Coincidence still? Perhaps, but our D and those who teach him were the only people to mask full time at the center. We also have him separated from any kids who refuse to mask. Yes, I mailed in my ballot. Did for today’s election as well and will for every election going forward. It is infinitely easier and safer.
1:47 . . .
I appreciate your perspective. I think what you are saying at 1:47 makes a lot of sense.
I’d be more open to the D side of this issue if the D’s had toned it down. I agree that Trump would do low things. I agree that him with power could go down a bad road. But, exaggerating the stakes of what happend on J6 diminishes D credibility, especially since one can watch a bunch of the video of that day for himself.
Of course the cultists will downplay it yet if it were the Dems attacking capitol after Hillary lost then never hear end of it. You can’t step away from this one, red hat dolts thought the Re-thugs tried to move on. More serious for Dumpy will be blatant attempt to over-turn GA with ‘find me 11k votes’. It is not questionable that insane maniac tried to overturn democracy. The story is so sick. He must be held accountable
In an email on December 13, 2020, the day before electors in the state capitol would meet to cast their votes, Robert Sinners, Trump’s head of election day operations in Georgia, wrote to them asking for “complete discretion in this process.”
“Your duties are imperative to ensure the end result — a win in Georgia for President Trump — but will be hampered unless we have complete secrecy and discretion,” Sinners wrote.
“And thats where your hypocrisy kicks in. People are calling for that [federal gun control legislation], but you scream My 2A rights or “Prove to me it would work”.
Which is it? Your buddy with the side by side in NYC, is stuck there because of what the state passed.”
Which is it? Both. Exactly how it should be.
On fed control, yes, I oppose it so I am vocal and work through the existing political system to thwart it as no one has demonstrated that it would solve the problem and (i) all indications are that it won’t and (ii) the fed’s prior attempts have failed miserably.
On my buddy, he is not leaving the city so his weapon is stuck there until and unless he decides to move it permanently. It’s the law, it sucks, but it is not going to change so he complies.
See how easy? And no prayers even!
“Stop the steal? It’s really not a fear. Maybe a desire that I see as common sense? But of course, our views on regulation are similar enough and we both know nothing is ever enforced anyway. And again, I know my position is cockamamie, kind of like splitting the US into blue and red countries of their own?”
I have no intention of picking a fight with you, as you ought to know we are more similar than not…
Stop the Steal as a movement is as misdirected as federal gun control. Agree.
And I know you like the ‘intellectual’ side of a debate, as much as I do.
Your common sense (but unattainable) federal gun control is my common sense (but unattainable) red/blue split.
Actually I’ll meet you in the middle (or at grim’s)…give me the red/blue split and you can lock down squirt guns in Blue America! Now that’s worth pursuing!
1:59 . . .
The US spent like $5T on covid-related economic interventions. 1 Million people died from it. If the lockdowns saved 1 Million extra lives, we paid $5M per life saved – and these are super-disproportionately the oldest and most ill amongst us who would have had short lifespans even absent covid. Realistically, I’d question if the lockdowns or anything the government did beyond getting the word out saved even 1M lives in the US.
The R states got back to open for small business on May 1, 2020 or not long therafter. Various shutdowns and handwringing continued amongst blue states for much longer.
Personal behavior aimed at avoiding covid is super smart!! Government-imposed restrictions aimed at limiting covid spread, including closing small businesses, have shown limited effectiveness (at the least, a poor value in comparison to $5T and now big inflation).
Given the mortality, the theoretically-avoided mortality, etc. on the one hand. compared to the disruption to life on the other, people on the right found the reaction to be unwarranted. And, this was already pretty clear ahead of the 2020 election.
Thus, from a rightist perspective, covid was used as a flimsy excuse for a lot of nonsense. People on the left are, of course, free to disagree and may believe the govt responded appopriately to the dangers of covid to society.
“Actually I’ll meet you in the middle (or at grim’s)…give me the red/blue split and you can lock down squirt guns in Blue America! Now that’s worth pursuing!”
We may have a compromise. But when you get so sick of beer, barbeque and berating womanfolk and blacks, here will be no invading the blue states with your armed and fit militias.
No liberal music, left. Your festivals will now be Toby Keith, Kanye, Kid Rock and Ted Nugent.
And Lee Greenwood.
Haha, notwithstanding the above Lib I will join your agreement party with crushed…
“I’d be more open to the D side of this issue if the D’s had toned it down. I agree that Trump would do low things. I agree that him with power could go down a bad road. But, exaggerating the stakes of what happend on J6 diminishes D credibility, especially since one can watch a bunch of the video of that day for himself.”
Dems seriously overplayed their hand. We can surmise why, although the cause doesn’t really matter.
Among my independent, swing voter type friends….they agree with crushed that the property damage and violence was unwarranted and should be prosecuted. They also believe that a handful of the elections (not the counts, but the elections) were suspect because of the ’emergency covid’ provisions and changes.
If the Dems stopped there they would have had a solid win – legitimately prosecuting the crimes committed as the crimes committed and, even better for Dems, acknowledging that certain state elections were not ‘standard’ without yielding the results.
Instead of this balanced approach – which would have benefitted the DEMS and established them as the adults in the room – what the indies I know see and repel from are below. Please understand, I am not bitching and moaning about these items. I am literally giving the play book to Dems for winning the indie vote on this matter. In that sense I’m a bit glad they over reacted and did the opposite because the target voter has, at best, tuned out and at worst view the entire process and therefore Dem party as suspect. The list of lost Dem credibility among the voters who matter on J6:
Over the top prosecution. Locking Americans in solitary months on end without any charge with the underlying crime being simply trespass for most. This really hits home in flyover country.
Vendetta. The face of the J6 prosecution is the same person who brought, and lost, two impeachments against Trump. Looks very personal. By someone with a demeanor many people are predisposed to not like.
Stacking the Deck. Pelosi refusing to seat the Repub choices for the J6 Committee, an unprecedented move, and instead hand picking Repubs predisposed to her view. Nearly every indie I speak with is familiar with the Cheney quote that ‘she will do anything necessary to prevent DJT from being anywhere near the Oval Office again’. The vitriol toward Cheney (and she is the Repub on the committee) is as intense as anything I’ve seen, especially given her really quite conservative background.
The Circus Show. Too much breathless media attention. The J6 has hired a media consultant for goodness sake. Endless loops of ‘mark this on your calendar!’ on liberal media outlets. The feeling is if this event is as dire and profound as they say then it should be a solemn, sad affair and not have the air of a monster truck show.
Double Standard. The shooting of that woman really hits home among many. Don’t forget many of your swing voters are well ensconced in gun country. That issue has faded a bit with the time elapsed from all the BLM type police prosecutions but still hits home for some. The fact that the person remains unidentified, let alone uncharged, for shooting an unarmed woman still really bothers many.
That’s most of it. Again, don’t bang on me for this list, just information and observation. Personally, I hope for an over the top hearing, gavel to gavel TV coverage, huge shows of moral outrage (especially by Cheney), and miles and miles of selected video repeatedly replayed on morning and evening broadcasts….each of these turns off the indie swing voter. I can say this truthfully and heartfelt…I hope Pelosi is at her legislative best. LOL.
Yeah, no one had any reason to be desperate to see trump reelected. It’s not like the Erie brigade hasn’t rounded the economy, failed to preserve international peace, unleashed ped0philes on our schools, created a massive conduit for all third world migrants, attacked the constitution or diminished or standing in the world. What we’re all this nut jobs worried about.
Woke brigade
I’m thinking Kid Rock and Ted Nugent can jam something fairly hardcore.
Haha, don’t forget BMFS for the music.
He got the cold shoulder twice in a couple weeks at CBS – Colbert and Grammys – as a white 20 something white male from Michigan who uses his down time fishing and repairing his own Chevy while sporting a ‘tiddy gurilla’ tat.
He doesn’t check any of the woke boxes so pretty sure he’ll stick with middle America…I suspect some other artists may as well given the new burden of the dogmatic Left…maybe this can say it better…
https://twitter.com/elonmusk/status/1532899718401073152
“Stacking the Deck. Pelosi refusing to seat the Repub choices for the J6 Committee, an unprecedented move, and instead hand picking Repubs predisposed to her view.”
Left-
you know that Pelosi originally proposed a bipartison commision to investigate J6, right? The Bill passed the house, but was blocked by Repubs in the Senate.
For repubs to complain that they don’t like the makeup of the House Select Commitee is the ultimate in chutzpah.
Ed,
I give you low moments in Phish history. I was present for this one.
https://www.youtube.com/watch?v=gF1MoYp0Yio
OC, there were already two separate Senate committees investigating…Rules and Homeland Security.
No chutzpah…even your mouthpiece agrees it was unprecedented.
https://www.npr.org/2021/07/21/1018924596/nancy-pelosi-rejects-2-gop-picks-for-jan-6-inquiry-committee
By,
Who woulda thunk it! Goes to show ya, music is the magic to bring throngs together.
So, the lefty woke brigades burned police stations, federal court houses, destroyed national monuments, looted and burned whole blocks, commandeered neighborhoods, were told to “resist” by political leaders and none of it is worthy of congressional investigations?
Eddie, let them keep piling it on with that backdrop. they don’t ‘get’ the swing voter…never have, never will, and don’t want to.
The comparative sound bites and videos going into Nov will be splendid.
Eddie,
It wasn’t the wokesters who actually did most of the looting and burning. That was mostly the poor and stupid. The wokesters are the ones who encouraged it, excused it, mislabelled it, or ignored it.
But I’d say these events are in local jurisdictions. Other than investigating woke organizations as instigating domestic terrorism, which by the standards of the dems, they did.
Where are the Senate panels and investigations after big sports team wins or loses a championship? Lots of fires, destructions of property and violence. They don’t attack Capitol. I see a difference.
The Jan 6 charade couldn’t come at a worse time for the Dems; traditional constituencies that would normally eat it up, are literally at their breaking point due to catastrophic Bidenflation. Young people looking to trade down to Honda civics and ford escorts because they can’t afford gas, lower middle class families surrendering pets because they can’t afford to feed them, and others piling up credit card bills to pay for necessities don’t have the luxury of indulging in the Dems useless spectacle.
The biggest threat to our democracy is the Jan 6th commission. I mean seriously they had the FBI raid little old ladies houses who took selfies in the capitol and holding people without bail on flimsy evidence. This latest bit where they have arrested the leaders of these groups without presenting any new evidence to the court. I’m sorry this is not how criminal justice works in the US. What we are seeing is more like something you’d see in Cuba, Venezuela, the Soviet Union.
You know what else happened for the first time besides Pelosi vetoing the Republican picks? The Capitol was attacked.
Be real about those picks. One of them said they wouldn’t finger Trump even if the evidence proved he was behind it. Not only was Pelosi in the right for booting someone after making that statement. But he should have been impeached for it.
This is today’s Republican party. Complete nonsense. But keep whipping it up. And threatening to pull the rest of them? Who cares? There is no such thing as an honest investigation any longer. Not when it involves public workers. And the higher up the chain you go the less likely anything whatsoever will come out of it.
This passage just sends shivers through my spine.
Esp this part.
“I need that couple of million to be there if I fall out of grace with the regime and I need to run. Ideally, maybe I can even get my kids out of the country and out of easy reach of the regime, too, ahead of any trouble that might arise someday.”
crushednjmillenial says:
June 7, 2022 at 1:13 pm
Big mistake by the US and the West in seizing the Russian assets in response to the Russian invasion of Ukraine.
For years, Russians (and Chinese, and other shady dealers around the world) had the following calculus: “I have $50M in wealth, but it is subject to the whims of the absolutist system I live in – whether Putin, Xi or whoeveer else tinpot absolutist that I need to kowtow to. I am willing to take 0% returns on $10M of it, indeed I’ll pay 10% or 20% off the top to get 0% slightly negative returns as long as I can put it somewhere safe. I need that couple of million to be there if I fall out of grace with the regime and I need to run. Ideally, maybe I can even get my kids out of the country and out of easy reach of the regime, too, ahead of any trouble that might arise someday. Manhattan apartment or London apartment – perfect, those Westerners respect private property rights.”
Out the window. Your wealth is never really safe.
Biggest fear out there is ourselves. You pray you never get a power junkie like Putin or Xi in this country.
The biggest threat to our happiness and survival are not things like climate change, but ourselves..humans drunk off absolute power. It never ever ends well.
“Be real about those picks. One of them said they wouldn’t finger Trump even if the evidence proved he was behind it. Not only was Pelosi in the right for booting someone after making that statement. But he should have been impeached for it.”
So you subscribe to Pelosi’s quote from NPR…”Pelosi said this is an unprecedented investigation that calls for an unprecedented decision.”
No problem there stacking the jury for a pre-determined decision so long as it goes your way, huh? I’m sure you’ll support ‘impeachment’ for Pelosi for selecting an inquiry with a pre-determined view. Oh, and of course, no problem with Cheney’s flat out public decision to rail DJT beforehand…that’s fine because it comports with your view….smh
You are blinded by liberal arrogance…you believe so fervently in the rightness of your opinion such that every other view is wrong and therefore no action is out of bounds to attain your goal.
JFC man, listen to yourself on 2A….”gun control isn’t getting passed so therefore the Constitution is flawed”. Fucking really? Like, literally think about your view in that context…solely because the outcome today under two and a half centuries of law is not to your personal, political liking the entire system is broken and must be circumvented. What level of fucking arrogant prickishness is required to hold that view and think it enlightened?
Keep throwing wood on the fire, it’s your pyre…I truly don’t care, your insanity benefits my side…you guys are so blinded by your insular self-righteousness you don’t see the water receding and the monstrous wave rising behind your back…we haven’t even touched upon the Hispanic and Black vote which is going to be a major surprise for you in November. You guys just don’t get how repulsive your self-righteous hypocrisy is to mostly anyone outside of your MSDNC sycophantic circle.
But, again, please continue. November can’t come fast enough. I remember going out to a bar in Hoboken with (liberal) friends to catch the gubernatorial election years back…tears literally flowed from these young guys as the iconic three term Mario lost to an unknown mayor from the backwater of Peekskill. A bullshit unknown mayor unseated a liberal lion with the backdrop of Repubs being mostly frozen out of the governor’s mansion for the better part of 75 years.
What is going to happen to your liberal crew – by their own hand – in November is going to make the Pataki upset look like a JV game.
I would have thought that a certifiably crazy, politically expedient, NYC metro resident taking the traditionally Blue working class vote of middle America from your liberal icon in 2016 would have woken you guys up. As usual, liberals aren’t that bright so you just double down on the same stupidity that lost you the national election against one of the most unlikeable people ever. Keep on going. I’ve seen people like you too many times at the blackjack tables. It’s called full tilt and you don’t realize it’s happened until you’re broke. Keep splitting and doubling down on those sixes. Please. It’s worked so well so far LOL.
Anecdote from mid-30’s client tech start-up area. Tons of people on Linked-In in the tech area suddenly appear to be available for next opportunity. Same individual is talking about large re-orgs at corporations IT divisions.
at exact same moment I was with a high school friend in a divey bar on 2Ave by St Marks. She was on Guiding Light at the time. Sitting across from us was Mary Stuart Masterson. I remember a TV being in there, which was kind of a negative, because it meant that on weekends it was full of sports cheeseballs, baseball hats at frat boys. But a Tuesday was nice with eye candy. I was looking up and saw Pataki and thought WTF?
leftwing says:
June 7, 2022 at 6:48 pm
But, again, please continue. November can’t come fast enough. I remember going out to a bar in Hoboken with (liberal) friends to catch the gubernatorial election years back…tears literally flowed from these young guys as the iconic three term Mario lost to an unknown mayor from the backwater of Peekskill. A bullshit unknown mayor unseated a liberal lion with the backdrop of Repubs being mostly frozen out of the governor’s mansion for the better part of 75 years.
left: one of the blow-ups we speculated occurred last month.
MARKETS
Highflying Tiger Global Humbled by Unraveling of Giant Tech Bet
The New York firm was a heavy investor in technology stocks and startups when the market peaked. The downturn has vaporized years of its gains.
By Eliot Brown and Juliet Chung
June 6, 2022 11:12 am ET
Tiger Global Management rode the tech boom like no other investment firm. It was funding more startups than any other U.S. investor when the market peaked last year, and had tens of billions of dollars from pensions, endowments and rich clients riding on some of Silicon Valley’s hottest stocks.
With tech values plunging, the New York firm is humbled. The market rout has vaporized years of gains in a matter of months, calling into question Tiger’s big bets.
Fueling Tiger’s rise was a double-barreled business: A stock-picking arm put money mostly into public companies, while its venture-capital funds invested in startups throughout the world. Both bet bigger on tech as the market crested, leaving the firm exposed on both fronts.
Tiger said in a note to investors last week that its hedge fund, which managed $23 billion at the end of 2021, was down 52% this year. That is one of the largest-ever losses by a hedge fund. Its other large stock fund—a long-only fund that managed $11 billion at the end of 2021 and doesn’t short stocks—has lost 61.7%.
At the end of April, the rout had wiped out roughly two-thirds of the gains Tiger had made in those stock funds since its founding, estimates money manager LCH Investments.
Meanwhile, Tiger’s venture-capital funds are bracing for a slowdown in the tech-startup sector. As companies pivot from rapid growth to layoffs and cash preservation, write-downs on Tiger’s venture funds—valued at $64 billion at year-end—have begun and more are likely. Large venture-capital firms are warning of harsh times to come.
Cheap money reshaped Silicon Valley over the past decade, as pension funds, rich investors and celebrities turned to well-connected money managers to put money in startups and fast-growing tech companies. As stocks rose during the pandemic, gains by tech funds attracted more investors into the sector, even as valuations pushed well above historic norms.
Tiger, led by 46-year-old founder Charles “Chase” Coleman, stood out in the frenzy. Its venture-capital business in March raised a $12.7 billion fund, one of the industry’s largest ever. Tiger overall invested in 361 deals in 2021, up from 16 deals for all of 2017, more than any other U.S. manager, according to research firm PitchBook Data Inc. It often outflanked longstanding venture firms by moving faster and agreeing to more generous terms with startups—sometimes offering money to companies hours after meeting, some startup founders say.
As prices climbed, Tiger’s stock-investing arm traded financial and energy stocks for buzzy technology stocks like DoorDash Inc. and Zoom Video Communications. Tiger’s hedge fund rose to $25 billion in size by late 2021, from $9 billion two years earlier.
“The timing just couldn’t have been worse,” said David Bahnsen, investment chief for Bahnsen Group, a wealth-management firm based in Newport Beach, Calif., which gained access to Tiger’s hedge fund in November—right in time for the fund’s losing streak. A loss outside a recession “of that magnitude is completely, totally unacceptable,” he said.
Tiger’s hedge fund has recently focused more on shorting stocks, a way to shield against losses, it has told investors. It has said it is buying in areas where it believes prices have fallen too much, such as in some China-based electric-vehicle stocks.
And the firm told investors it is concentrating on fewer stocks, cutting its management fee by 0.5 percentage point and allowing investors to withdraw more of their money this year than it historically allowed.
Its venture-capital arm, run by Scott Shleifer, 44, has cut back on deal-making, particularly investments in startups that are nearing IPOs and need more cash. Tiger also has steered startup investments toward younger companies, the company has told startup founders—a risky bet that will take years longer to bear much fruit.
Tiger hasn’t commented on the losses publicly but has written regular missives to investors in its stock-picking funds, which also include some startup investments, expressing a mix of contrition and continued confidence in tech. “Our team remains maximally motivated to earn back recent losses,” Tiger wrote last week, adding it was “highly confident in our investment process and the returns we will generate over the long term.”
It told investors in an April letter: “In hindsight, we should have sold more shares across our portfolio in 2021 than we did.” As of March, it said, investors in its hedge fund at its 2001 genesis would still have averaged over 16% annual returns. A Tiger spokeswoman said the venture business has returned over $28 billion in profits to investors since inception—including more than $6 billion in the last 18 months. Its early investors have averaged over 20% annual returns, a person familiar with the numbers said.
Tiger Global’s genesis was in another tech boom. Famed hedge-fund manager Julian Robertson saw mounting losses before the dot-com bust in 2000 at his Tiger Management even as he predicted the collapse in internet and technology stocks to come. He closed the firm in 2000 and seeded a handful of protégés with funding, including Mr. Coleman.
Mr. Coleman, then 25, initially named his firm Tiger Technology, focusing on the tech sector. He racked up wins—including by shorting tech stocks—and recruited Mr. Shleifer, who worked as an analyst at Blackstone Group.
They extended their bets from public companies to private startups, creating a venture-capital arm that hunted for copycats of big U.S. firms in markets such as China and India. Its first venture fund turned $71 million into $823 million, according to Tiger documents reviewed by The Wall Street Journal. Profits from early investments in Facebook —now Meta Platforms Inc.—and JD.com Inc., now a Chinese e-commerce giant, followed, while the hedge fund kept up years of success.
The duo became multibillionaires. Mr. Coleman has told investors he has nearly all his net worth invested in Tiger. He paid $36.5 million for an apartment on Manhattan’s Upper East Side in 2008, subsequently combining it with a $52 million apartment one floor down.
Mr. Shleifer bought an $18 million Upper East Side apartment and early last year added a $122.7 million oceanfront Palm Beach, Fla., mansion on land once owned by Donald Trump, one of the most expensive home sales of all time. He travels the world in a Gulfstream previously owned by Steve Wynn’s Wynn Resorts, public records show.
As the tech boom raged through the late 2010s, they added bets on companies like used-car website Carvana Co., while the venture fund invested early in Peloton Interactive Inc. and shoe maker Allbirds Inc. Tiger handed out Allbirds sneakers to attendees at a meeting of its investors before the pandemic, an investor said.
As tech stocks surged with the pandemic, the duo bet bigger on the sector. Wall Street promoted companies in business software and home delivery, viewing the pandemic as a catalyst for rapid adoption of their products and apps. Tiger agreed: In a summer 2021 slide presentation to investors, it said it had a “relentless focus” on “the Internet, the defining economic theme of this generation.”
Tiger’s stock-focused funds invested billions of dollars in software companies with already lofty valuations, such as Zoom. As the pandemic continued, Tiger traded out of successful non-tech bets—it sold its holdings of private-equity firm Apollo Global Management that peaked at about $2 billion—and put more into hot names like fast-growing cloud software company Snowflake Inc.
When Tiger had built a stake of more than $2 billion in Snowflake in late 2021, the startup’s market capitalization was around 100 times its annual revenue. Historically, software firms have been valued closer to five times revenue. Snowflake, Zoom and DoorDash shares are all down more than 60% since November. Carvana’s stock is down more than 90% from its high.
It was Tiger’s venture business that truly took off. Armed with booming valuations from earlier fund bets on videogame platform Roblox Corp. and nicotine-vaping company Juul Labs Inc., Mr. Shleifer went on a fundraising spree, finding a wellspring of eager investors. Tiger set out to raise $3.75 billion for a fund in 2020 and ended up with $6.7 billion, it said in securities filings.
In 2021, as some veteran venture capitalists warned that valuations in the sector were unsustainable, Tiger sought $10 billion for a fund, extolling the virtues of fast-growing software companies to potential investors. It finalized the fund in March 2022 with $12.7 billion in commitments. The firm neared $100 billion in assets under management, an internal goal of some Tiger executives, people familiar with the firm said.
Mr. Shleifer likes to remind investors he has about $1 billion invested personally in the $12.7 billion fund, a large contribution for venture capital. Others investing included giant retirement funds—California’s Calstrs and Calpers funds committed a combined $400 million for the latest fund—and an array of wealthy individuals via banks including JPMorgan Chase & Co. and Morgan Stanley.
Privately, some of Tiger’s investors have grumbled about the rapid clip at which the firm was raising successive venture funds. Greg Bohlen of investor Union Grove Venture Partners said he stopped investing with Tiger’s venture funds around a decade ago given the fundraising growth, which has kept him away since. “We were concerned with the acceleration of pace,” he said.
Tiger took a different approach to funding from that of many Silicon Valley venture firms, which like to be actively involved with founders, acting as coaches for CEOs. Those firms often take board seats, push for additional investment terms that protect them in downturns and like to take their time to research companies before investing.
Some startup founders said Tiger instead tells them its goal is to stay out of the way. If a company wants connections, Tiger can make them. If founders want research, Tiger will commission consultants for them. But Tiger’s main offering is money, the founders said: It comes quickly and typically without new strings attached.
Other venture investors call it an index-fund-like approach to venture capital—making it vulnerable to a sector-wide chill. While traditional firms concentrate their bets hoping for one or two winners to drive their returns, Tiger spreads bets broadly, sometimes backing competitors. Its recent approach has targeted top young companies in business software, payments and other sectors that are increasing revenue so fast that they can become giant even if valuations throughout the sector fall, Tiger has told investors.
Tiger outsources much of its background research to consultant Bain & Co., where analysts interview customers and create dossiers on prospective companies. Some founders said they were amazed Tiger could accurately estimate nonpublic revenue and other figures. Tiger tells startups that it is one of Bain’s largest clients and that it pays the company more than $100 million a year, according to some founders. Bain didn’t respond to requests for comment.
‘Fuel and freedom’
Ali Javid, chief executive of Wrapbook, an entertainment-industry software company he co-founded in 2018, set out to raise Series B funding—an early round of funding—in October. He emailed a Tiger partner, who quickly asked to speak the next morning at 8:30. When they spoke, “He had already gone through our entire Series B deck,” Mr. Javid said, referring to his fundraising presentation. “Three hours later, I got a term sheet for $100 million.”
The deal valued the company at $1 billion, up from about $150 million in a funding round seven months earlier, according to PitchBook. “Tiger offered us fuel and freedom to execute,” Mr. Javid said.
Tiger led a $555 million round of funding in fall 2021 into Moonpay, a Miami-based startup that backers call the PayPal of cryptocurrency. The so-called Series A early round valued it at $3.4 billion, an investment the three-year-old company described as historic, given its size and valuation for such a young company. The average early-stage startup funding round is less than $20 million, according to PitchBook.
Then came the pullback. The market capitalization of cryptocurrencies has fallen by over $1.5 trillion since November, roughly halving the value, and trading volume has plunged in nonfungible tokens—virtual deeds, often tied to art, that can be traded—a Moonpay selling point.
Similar trends are occurring throughout the startup sector, where leading figures are warning startups to turn from hypergrowth to survival—cutting jobs and projections.
Tiger’s write-downs of its startup bets in its venture and stock-picking funds have been modest thus far compared with its public holdings, people familiar with Tiger’s numbers said. But a venture fund’s performance often lags behind drops in public markets. Private companies are harder to value, and managers often rely on a company’s valuation at a prior fundraising round.
Early this year, Tiger told investors the $2.3 billion it invested across numerous funds in ByteDance was worth about $6.4 billion—a huge win. But since, it has written down its stake by over $2 billion, estimating ByteDance’s valuation at less than $300 billion, people familiar with the numbers said.
Other investors have marked ByteDance lower, suggesting more pain for Tiger if its competitors’ takes prove right. Sequoia China, the China business of venture-capital firm Sequoia Capital, has valued it internally at $180 billion, the firm has told clients. ByteDance didn’t respond to requests for comment.
Tiger is looking ahead as it cuts. While many venture investors pause fundraising during downturns, Tiger has begun talking to investors about raising its next fund, according to people who have spoken to the firm, hoping to finish fundraising early next year.
WSJ Op-Ed
Why I Quit Georgetown
The university didn’t fire me, but it yielded to the progressive mob, abandoned free speech, and created a hostile environment.
By Ilya Shapiro
Updated June 6, 2022 8:45 am ET
After a four-month investigation into a tweet, the Georgetown University Law Center reinstated me last Thursday. But after full consideration of the report I received later that afternoon from the Office of Institutional Diversity, Equity and Affirmative Action, or IDEAA, and on consultation with counsel and trusted advisers, I concluded that remaining in my job was untenable.
Dean William Treanor cleared me on the technicality that I wasn’t an employee when I tweeted, but the IDEAA implicitly repealed Georgetown’s Speech and Expression Policy and set me up for discipline the next time I transgress progressive orthodoxy. Instead of participating in that slow-motion firing, I’m resigning.
IDEAA speciously found that my tweet criticizing President Biden for limiting his Supreme Court pool by race and sex required “appropriate corrective measures” to address my “objectively offensive comments and to prevent the recurrence of offensive conduct based on race, gender, and sex.” Mr. Treanor reiterated these concerns in a June 2 statement, further noting the “harmful” nature of my tweets.
But IDEAA makes clear there is nothing objective about its standard: “The University’s anti-harassment policy does not require that a respondent intend to denigrate,” the report says. “Instead, the Policy requires consideration of the ‘purpose or effect’ of a respondent’s conduct.” That people were offended, or claim to have been, is enough for me to have broken the rules.
IDEAA asserts that if I “were to make another, similar or more serious remark as a Georgetown employee, a hostile environment based on race, gender, and sex likely would be created.” All sorts of comments that someone could find offensive would subject me to disciplinary action. Consider the following hypotheticals:
• I laud Supreme Court decisions that overrule Roe v. Wade and protect the right to carry arms. An activist claims that my comments “deny women’s humanity” and make her feel “unsafe” and “directly threatened with physical violence.”
• After I meet with students concerned about my ability to treat everyone fairly, as Mr. Treanor asked me to do, one attendee files a complaint calling me “disingenuous” and the “embodiment of white supremacy.”
• When the Supreme Court hears the Harvard and University of North Carolina affirmative-action cases this fall, I opine that the Constitution bans racial preferences. Hundreds of Georgetown stakeholders sign a letter asserting that my comments “are antithetical to the work that we do here every day to build inclusion, belonging, and respect for diversity” (borrowing the language from Mr. Treanor’s statements of Jan. 31 and June 2).
• In a class I’m teaching, a student feels uncomfortable with his assigned position in a mock oral argument in 303 Creative v. Elenis, a case that considers whether a designer can be compelled to create a website for a same-sex wedding. “To argue that someone can deny service to members of the LGBTQIA+ community is to treat our brothers and sisters as second-class citizens, and I will not participate in Shapiro’s denigrating charade,” he writes on the student listserv.
I could go on, but you get the idea. It is the Georgetown administrators who have created a hostile work environment for me.
Fundamentally, what Mr. Treanor has done—what he’s allowed IDEAA to do—is repeal the Speech and Expression Policy that he claims to hold dear. The freedom to speak is no freedom at all if it makes an exception for speech someone finds offensive or counter to some nebulous conception of equity.
Georgetown’s treatment of me shows how the university applies even these self-contradicting “principles” inconsistently depending on ideology. Contrast my case with these recent examples:
• In 2018, Prof. Carol Christine Fair of the School of Foreign Service tweeted during Justice Brett Kavanaugh’s confirmation process: “Look at this chorus of entitled white men justifying a serial rapist’s arrogated entitlement. All of them deserve miserable deaths while feminists laugh as they take their last gasps. Bonus: we castrate their corpses and feed them to swine? Yes.” Georgetown held this to be protected speech.
• In 2020, Prof. Heidi Feldman of the Law Center tweeted that “law professors and law school deans” should “not support applications from our students to clerk for” judges appointed by President Trump. “To work for such a judge,” Ms. Feldman continued, “indelibly marks a lawyer as lacking in the character and judgment necessary for the practice of law.” These comments could threaten the careers of all conservative and libertarian students, or anyone who clerks for duly confirmed but disfavored judges. But Georgetown took no action.
• In April of this year—months after my tweet—Ms. Feldman tweeted: “We have only one political party in this country, the Democrats. The other group is a combination of a cult and an insurrection-supporting crime syndicate.” She went on: “The only ethically and politically responsible stance to take toward the Republican ‘party’ is to consistently point out that it is no longer a legitimate participant in U.S. constitutional democracy.” Unlike me, Ms. Feldman teaches first-year law students in mandatory courses. This pattern of remarks created a hostile educational environment for Republican students—a protected class under District of Columbia antidiscrimination law. The tweets were quietly deleted without apology or disciplinary action.
• Last month, law professor Josh Chafetz tweeted: “The ‘protest at the Supreme Court, not at the justices’ houses’ line would be more persuasive if the Court hadn’t this week erected fencing to prevent protesters from coming anywhere near it.” He added, “When the mob is right, some (but not all!) more aggressive tactics are justified.” Later, he invited “folks” to “snitch tag @GeorgetownLaw” and taunted that the school was “not going to fire me over a tweet you don’t like.”
Mr. Chafetz was surely right about the last point. Apparently it’s free speech for thee, not for me.
It’s all well and good to adopt strong free-speech policies, but it’s not enough if university administrators aren’t willing to stand up to those who demand censorship. And the problem isn’t limited to cowardly administrators. Proliferating IDEAA-style offices enforce an orthodoxy that stifles intellectual diversity, undermines equal opportunity, and excludes dissenting voices. Even the dean of an elite law school bucks these bureaucrats at his peril.
What Georgetown subjected me to, what it would be subjecting me to if I stayed, is a heckler’s veto that leads to a Star Chamber. “Live not by lies,” warned Aleksander Solzhenitsyn. “Let the lie come into the world, let it even triumph. But not through me.”
I won’t live this way.
Mr. Shapiro is a former executive director of Georgetown Law’s Center for the Constitution and author of “Supreme Disorder: Judicial Nominations and the Politics of America’s Highest Court.”
Jesus chi, I saw the headline cross but didn’t realize the losses were that massive. Is this Tiger Robertson’s Tiger that spawned all the cubs?
I guess these guys are in a race with CW to see who can build a bigger bonfire with investors’ money….
Chgo : I read that article earlier. So much for free and open exchange of ideas, and the Catholic tradition of education. Although, the Jesuits don’t do the God thing anymore. They were woke before it was fashionable.
Followed the Georgetown issue as well…priceless that he waited to be ‘cleared’ and then told them to fuck off, you’re dogmatic anti-intellectual academic sharia…
Ties into the Princeton professor who was ‘released’ for already settled issues when he commented on SCOTUS quotas…
The Georgetown guy is apparently on Tucker Carlson on Fox at the top of the hour…I’ll likely tune in…
Good to see the moderates and conservatives no longer cowering to these shrill liberal freaks.
70% of NJ CPAs have advised their business clients to consider moving to another state.
https://nj1015.com/what-will-happen-to-nj-economy-accountants-dramatically-change-their-tune-since-last-year/
I think one of the keys to understanding the meaning of the second amendment is first understanding what “well regulated militia” means.
“Well regulated” does not in any way refer to laws or extensive regulations.
It refers to being trained, able and effective. Regulated – as in a well regulated watch.
Militia also had clear meaning, it had nothing to do with an army, a militia meant average citizens taking up arms to defend the country.
Why do we need a militia when we have a professional army?
It’s “necessary to the security of a free State”
Huh? You can put that in the context of Ukraine, but in reality, it’s because the people may have to defend the country from its government. It’s our origin story. We overthrew a tyrannical government, whose army fought for the government.
An armed militia was a counterbalance to prevent tyranny.
Thus it necessary for the people to keep and bear arms.
And why that right can not be infringed.
So yeah, the right to keep and bear arms is within the context of a well trained militia, but that doesn’t mean in the sense of the National Guard, it’s in the sense of a nation of guards. We talk about it not contemplating the type of weaponry, but it absolutely did. It didn’t draw a distinction, because it was based on the premise of the people overthrowing a government and waging war against it’s armies. Yes, this sounds absurd, but keep in mind it happened SEVEN YEARS prior.
The prohibition on infringement was clearly obvious in this context, because an oppressive government would suppress it’s people by taking away their arms, preventing their ability to overthrow the government.
This is a check and balance, like many other checks and balances.
I’m not arguing whether or not this is currently still a valid concern, but there is no question that this was a valid concern seven years after they’d just done exactly this.
Grim,
I agree they wanted groups of people people armed, and perhaps even as a check on federal power. But I don’t think they were thinking of the second amendment as being about the right of every individual to own arms. I suspect they would have left it to the states to decide who was able to bear arms in militias. I’m curious if in those days it was customary to forbid lunatics or released criminals from bearing arms. Or perhaps ownership of guns was no more seen as something to be regulated as were butcher knives. Potentially dangerous but not something the govt would regulate, like most things. I suspect the drive to regulate so many things came from both religious types and later the progressives.
I think the gun thing has a lot to do with personal safety.
I suspect they would have left it to the states to decide who was able to bear arms in militias.
Well, they did. Coincidentally, they made provisions for owning the deadliest weapons available at the time, the Pennsylvania rifle, which would have been the equivalent of a modern long range sniper rifle.
This was passed two years or so into the war, shortly after the British had taken Philadelphia in 1777 and South Jersey was seeing conflict spill over. Interestingly, they increased the fine for not keeping arms.
1778 – N.J. Laws 45, 2d. General Assembly, An Act for the Regulating, Training and Arraying of the Militia, ch. 21, § 11.
That every Person enrolled shall constantly keep himself furnished with a good Musket, well fitted with a Bayonet, Steel Ramrod and Worm, a Cartridge-box, twenty three Rounds of Cartridges sized to his Musket, a Priming-wire, Brush and twelve Flints, a Knapsack and Canteen under the Forfeiture of Six Shillings for the Want of a Musket, and One Shilling for the Want of the other Articles whenever called out to Training or Service, to be recovered and applied as herein after is directed: Provided always, That if any Person be furnished as aforesaid, with a good Rifle Gun, the Apparatus necessary for the same, and a Tomahawk, it shall be accepted in Lieu of a Musket and the Bayonet, and other Articles belonging thereto.
This was a refinement of what had been passed earlier, in 1775:
The Congress taking Into consideration the cruel and arbitrary measures adopted and pursued by the British Parliament and present Ministry for the purpose of subjugating the American Colonies to the most abject servitude, and being apprehensive that all pacific measures for the redress of our grievances will prove Ineffectual, do think it highly necessary that the inhabitants of this Province be forthwith properly armed and disciplined for defense of the cause of American freedom. And further considering that, to answer this desirable end, it is requisite that such persons be entrusted with the command of the Militia as can be confided in by the people, and are truly zealous in support of our just rights and privileges, do recommend and advise that the good people of this Province hence forward strictly observe the following rules and regulations, until this Congress shall make further order therein.
…
That every person shall with all convenient speed furnish himself with a good musket or firelock and bayonet, sword or tomahawk, a steel ramrod, priming-wire and brush fitted thereto, a cartridge-box to contain twenty-three rounds of cartridges, twelve flints, and a knapsack, agreeable to the direction of the Continental Congress, under the forfeiture of two shillings for the want of a musket or firelock, and of one shilling for the want of the other above-enumerated articles”; also ” that every person directed to be enrolled as above shall, at his place of abode, be provided with one pound of powder and three pounds of bullets of proper size to his musket or firelock.
Keep in mind, the formation of the militia was required as well, and was based on a principal of self-organization. They were basically telling people to form their own township armies, designate officers, etc. This was completely separate from the Continental Army, and the NJ battalions that were part of it.
1st. That one or more companies, as the case may require, be Immediately formed in each Township or Corporation, and, to this end, that the several Committees in this Province do, as soon as may be, acquaint themselves with the number of male inhabitants in their respective districts, from the age of sixteen to fifty, who are capable of bearing arms; and thereupon form them into companies, consisting as near as may be of eighty men each; which companies so formed shall, each by itself, assemble and choose, by plurality of voices, four persons among themselves, of sufficient substance and capacity for its officers, namely, one captain, two lieutenants, and an ensign.
Woke San Francisco DA gets recalled.
https://www.dailymail.co.uk/news/article-10895407/Woke-San-Francisco-DA-Chesa-Boudin-LOSES-recall-election.html#article-10895407
Amazing. Even the people living in progressive utopia think progressives have gone too far.
Woke district attorney in San Francisco cancelled in recall ballot vote yesterday. Mayor will name a replacement until a special election is held in November.
https://nypost.com/2022/06/08/san-francisco-da-chesa-boudin-ousted-over-soft-on-crime-policies/
Beer I was going to post that an hour ago, oh well.
Originally, the Bill of rights was understood to only apply to the federal government. Over time the Supreme Court increased the power of the federal government by applying the same limitations to the States starting in 1868 and beyond.
Prior, the states could in theory have restricted speech or fire arms, as long as it wasn’t a power reserved / granted to the federal government or against their own constitution.
Last I checked there is no war mobilization..
Remember this new country was worried back in 1789 when 2A was written that the British would be back, that is the main reason why 2A exists. They were right ofcoure the British were back, years of economic sanctions and naval blockades and well their attempt to prevent our expansion into the Indian land around the great lakes all lead to that war in 1812 and the subsequent sacking and burning of Washington DC and the White House in 1814.
Adams in NY is at 29% approval, same as O’Biden but the liberal press is desperate to keep the fake narrative going for slo joe w. an approval closer to 40%. We obviously know it’s probably in the low 20s. Adams is another bullshit artist, saw that one coming but the muffin top muppets are complacent in their ill-formed, myopic world. Back to NY; a bus driver was stabbed last night, a 15 year old girl shot as she sat in her living room; violent crime up 54% YOY in the Big Apple. Where is Giuliani or Bloomberg when you need them?
Matthew McConaughey using common sense language, how refreshing while d0uchebag Di Nero is touting the very good job slo joe is doing on the Colbert Cunt show. Di Nero would be the first to be denied gun ownership when his mental health background check results come back.
San Fran grows a pair; perhaps the progressive war on classic America is beginning to die it’s slow, miserable death. You notice the trendy lawn signs are becoming less visible? Btw, since l1beralism is a mental disease, every l1beral will be denied a permit to own a gun.
Tulsi Gabbard has been touting common sense and logical insight on issues on Fox for days. Look to her to run for president as a Republican or Independent. I would definitely consider voting for her.
Tulsi Gabbard has been touting common sense and logical insight on issues on Fox for days.
We agree on two things in one week.
This and fat Mary Muppet
AR-15’s will be useless anyway against the RoboCops and their RoboDogs in the future.
Or the slaughterbot drones that will take you out by the hundreds.
Better off becoming the best hacker you can be.
BTW if you did not know, the far left side of liberal the party raised that San Francisco District Attorney Chesa Boudin. These are the boomers from the 1960s who want to overthrow our government and actually bombed the US capitol amongst other attempts of sedition and insurrection.
His parents are Weather Underground terrorists and were arrested and jailed for the Brinks Armored Truck robbery, after his parents were jailed the weathermen leaders Bill Ayers and Bernardine Dohrn raised him.
Here is a 20 year old story about him when he was awarded a Rhodes Scholarship to study at Oxford University.
https://people.com/archive/free-thinker-vol-58-no-26/
I am sure they won’t give up trying… There are loads of District Attorneys out there who are WOKE, and well the BLM movement has the backing of the boomer terrorists too.
Better off becoming the best hacker you can be.
Or a gamer who can fly the counter-attack drones.
Juice: The AP article on Boudins recall loss called it a Republican power grab!! In San Francisco!! Can’t make this stuff up!!
Last I checked there is no war mobilization..
I think we agree that while the motivation was reactionary, the amendment was written to be anticipatory. I’d like to think it was longer-term thinking, but it’s clear that to some extent it’s a memorialization of what individual states had done in the years immediately preceding.
The wild card then becomes the reason why “shall not be infringed” exists, if this is simply about allowing the government to mobilize a militia.
There are loads of District Attorneys out there who are WOKE
Don’t mistake “woke” for LAZY.
Most are lazy, don’t want to tie up courts with cases they don’t think will enhance their career prospects or notoriety.
Another record increase for consumer credit in April, and the lowest savings rate since the Great Recession. I thought people had all this stimulus money stashed away in the bank.
I mean, the ability to conscript citizens into the military existed at the time of 2A.
If national defense was purely the reason, 2A is irrelevant.
Keep your eye on the second while the fourth is routinely violated…
“The Supreme Court has made clear that cellphone location information is protected under the Fourth Amendment because of the detailed picture of a person’s life it can reveal,” explained Wessler. “Government agencies’ purchases of access to Americans’ sensitive location data raise serious questions about whether they are engaged in an illegal end run around the Fourth Amendment’s warrant requirement.
Countless common smartphone apps are constantly harvesting your location and relaying it to advertisers, typically without your knowledge or informed consent, relying on disclosures buried in the legalese of the sprawling terms of service that the companies involved count on you never reading. Once your location is beamed to an advertiser, there is currently no law in the United States prohibiting the further sale and resale of that information to firms like Anomaly Six, which are free to sell it to their private sector and governmental clientele. For anyone interested in tracking the daily lives of others, the digital advertising industry is taking care of the grunt work day in and day out — all a third party need do is buy access.
“AR-15’s will be useless anyway against the RoboCops and their RoboDogs in the future. Or the slaughterbot drones that will take you out by the hundreds. Better off becoming the best hacker you can be.”
There you go, done summon’d beetlejuice….
https://www.youtube.com/watch?v=fn3KWM1kuAw&ab_channel=BostonDynamics
I really like the little yellow fella. When I track down nom in the near future to invest in a few thousand acres of self contained lake and woodland nompound we’ll have that little guy all around the perimeter.
“66 days Pumpkin-free”
Also, really thoughtful views grim. TY.
I thought people had all this stimulus money stashed away in the bank.
The wealthy did. Boomers and the like. Or the state government pensioners.
Others put it to student loans, gas for going to work, replacing tires and brakes, child support, rent, health care deductibles, or for paying over invoice for the luxury of buying a car in order to wear it out going to work-not being able to depreciate it-or being able to sit in my house and work from home.
WFH is one hell of a deduction. I should be able to write off my mileage. Plus pay the same tax rate as “passive” income pays.
Only a matter of time before guns suffer the fate of swords…obsolete and useless against the new weapons.
Drones will be patrolling schools…and will hit you with some laser technology the second you try to harm someone.
Phoenix says:
June 8, 2022 at 8:12 am
AR-15’s will be useless anyway against the RoboCops and their RoboDogs in the future.
Or the slaughterbot drones that will take you out by the hundreds.
Better off becoming the best hacker you can be.
Or you were upper middle class and didn’t get a dime. Only paid for everyone else.
Phoenix says:
June 8, 2022 at 8:41 am
I thought people had all this stimulus money stashed away in the bank.
The wealthy did. Boomers and the like. Or the state government pensioners.
LW,
No matter what that thing costs at least it wouldn’t be standing outside a classroom like a Popeye’s chicken too afraid to do the ONE JOB they are paid to do.
The teacher summed it up great on national TV last night:
https://youtu.be/zIED-IQVpHw?t=106
The draft and conscription of a federal US Army came much much later.. Right after the revolution the Continental Army was quickly disbanded, a reflection of the distrust of standing armies. There was also no way to pay for it as well. Local and state run militias became the only armies. The US army came about after 1/2 the army/militia were killed in battle of Battle of the Wabash when we were trying to expand our reach into Indian lands around the great lakes.
Of the 1,400 regulars, levies, and militia, 918 were killed and 276 wounded. Almost half of the entire force we had was either dead or wounded in that battle. After the defeat in 1792 Congress finally authorized a larger standing Army and the creation of the Legion of the United States which was later renamed the US Army. The Militia Act of 1792…Even then the President could only call up state militias, the federal government tried to institute a national draft during the war of 1812 and it never passed.
https://constitutioncenter.org/interactive-constitution/blog/how-congress-created-an-army-of-millions-in-1917
Or you were upper middle class and didn’t get a dime. Only paid for everyone else.
Like the tax break on your rental when you depreciate it?
LW,
That vid was funny.
White Robots can dance.
Can we get one of those robots to teach in Pumpy’s class?
No pensions, can teach multiple courses, can dance, and can disarm armed subjects.
Won’t cry about things like Covid either.
Wow, you really care about me. Trying to save me from this hell. Thanks.
Phoenix says:
June 8, 2022 at 8:57 am
Can we get one of those robots to teach in Pumpy’s class?
No pensions, can teach multiple courses, can dance, and can disarm armed subjects.
Won’t cry about things like Covid either.
I wonder how these fat teachers don’t drop dead in these hot classrooms. I appreciate the fat teachers….paying into a pension they are never going to use. Thanks for the support, pension needs all the help it can get.
Counter drones? Since cost is irrelevant to protect freedom Raytheon and Lockheed Martin are on it with 60-kilowatt laser drone zappers and high powered microwave weapons to shoot them all down. Dust off the old documents from Star Wars and rehash it smaller truck mounted or a shoulder fired systems and we got ourselves billions in R&D contracts from the government.
Phoenix: From what I have read people with student loans most made no payments during the on going pause. Some articles have said people used money they would have used to pay student loans as money towards a down payment on houses.
I did not get a dime, and I don’t care, and I don’t begrudge anyone that got it and really needed it. My point was we are told the economy is still in great shape, and people still have stimulus money and yet consumer debt has reached another record high, and the savings rate is the worst since the Great Recession.
As for student loans according to insiders in the White House, Biden will extend the pause in August at the same time he announces his loan forgiveness plan. I suspect this close to the mid terms it will be bigger than his original 10k in forgiveness plan.
Bet they never teach this in high school:
The upstart nation was a den of intellectual piracy. One of its top officials urged his countrymen to steal and copy foreign machinery. Across the ocean, a leading industrial power tried in vain to guard its trade secrets from the brash young rival.
In the late 18th and early 19th centuries, the rogue nation was the United States. The official endorsing thievery was Treasury Secretary Alexander Hamilton. And the main victim was Britain.
How times have changed.
Now, the United States accuses China of the very sort of illicit practices that helped America leapfrog European rivals two centuries ago and emerge as an industrial giant.
“The message we are sending to China today is, Do as I say, not as I did,′ ” said Peter Andreas, professor at Brown University’s Watson Institute for International and Public Affairs. “The fact of the matter is that the U.S. was the world’s hotbed of intellectual property theft.”
Having imposed tariffs on $250 billion in Chinese goods, the Trump administration is trying to force Beijing to abandon what it calls its brass-knuckles drive to exploit American technology to speed its own economic modernization. The administration alleges — and many China watchers agree — that Beijing steals trade secrets and coerces U.S. companies to hand them over as the price of admission to the vast Chinese market.
Phoenix: I don’t know if we can make the same comparison between the USA 250 years ago, and today.
3B – 41 million votes to buy with the student loan forgiveness. Wait until they announce another COLA adjustment for those on Social Security probably before the election. The latest COLA this year was is 5.9 percent biggest in 40 years, but that is already forgotten about. The next one could be even bigger some are saying 8% that is about 69 million voters.
Force Majure. Put that in your new mortgage contract. Then you won’t have to pay it back either. Or the taxes.
I get his argument-until he held the feet of individual buyers of his units to pay-claiming they didn’t have a “force majeure” clause. Snarky move even if it’s legal. Not someone I would trust as a President. But no less of a criminal than Biden and his son Hunter.
“How Trump Maneuvered His Way Out of Trouble in Chicago
When his skyscraper proved a disappointment, Donald Trump defaulted on his loans, sued his bank, got much of the debt forgiven — and largely avoided paying taxes on it.
Ultimately, Mr. Trump’s lenders forgave much of what he owed.
Mr. Trump went on the offensive. In a letter to Deutsche Bank on Nov. 4, he accused it of helping ignite the financial crisis. This was important, because Mr. Trump went on to claim that the crisis constituted a “force majeure” — an act of God, like a natural disaster — that entitled him to extra time to repay the loans.
Phoenix – From the article you listed above..
Here is the book Peter Andreas, professor at Brown University wrote about his upbringing and his mother.
“Carol Andreas was a traditional 1950s housewife from a small Mennonite town in central Kansas who became a radical feminist and Marxist revolutionary. From the late sixties to the early eighties, she went through multiple husbands and countless lovers while living in three states and five countries. She took her youngest son, Peter, with her wherever she went, even kidnapping him and running off to South America after his straitlaced father won a long and bitter custody fight.
They were chasing the revolution together, though the more they chased it the more distant it became. They battled the bad “isms” (sexism, imperialism, capitalism, fascism, consumerism), and fought for the good “isms” (feminism, socialism, communism, egalitarianism). They were constantly running, moving, hiding.
Between the ages of five and 11, Peter attended more than a dozen schools and lived in more than a dozen homes, moving from the suburbs of Detroit to a hippie commune in Berkeley to a socialist collective farm in Chile to highland villages and coastal shantytowns in Peru. When they secretly returned to America they settled down clandestinely in Denver, where his mother changed her name to hide from his father.”
https://www.amazon.com/Rebel-Mother-Peter-Andreas-audiobook/dp/B0727KRRD7/ref=sr_1_1?keywords=rebel+mother+my+childhood+chasing+the+revolution&qid=1654695558&sprefix=Rebel+Mother%2Caps%2C215&sr=8-1
Juice: Yep! We are in to vote buying now, and if we protest we are cruel and heartless. I read an article the other day where some guy who is in the” education field (not specified as to what that means) is sad he can’t be married or have children, because he has 302,000 in student loans. He said when he originally signed the contract at 17, he did not understand how much the original 250k was as the male brain is not fully developed until 27. I can tell you straight up at 17 I knew damn well how much 250k was.
Another reason to WFH. Rest in peace sir.
Illinois foundry worker dies after falling into crucible filled with 2,600F molten iron: Employee had only ‘worked at the plant for five days’
Plus he had to pay wage tax rate vs “passive income” rate, gas and wear and tear on his car.
Those kids and their drones
https://twitter.com/visegrad24/status/1534451700966252544
3b – medical school dropout? How the heck do you amass that kind of student debt?
There was another story about a 53 year old teacher in Massachusetts with over $300,000 in debt. $303,000 in federal student debt – and an additional $20,000 in private student loans.
She apparently only pays $200 a month on $303,000 in federal student debt and $400 a month on the $20,000 private loans and is still complaining….
Car payments are more than that and she will never pay off $303,000 @ $200 a month…
https://news.yahoo.com/meet-teacher-303-000-student-114500000.html
We are in to vote buying now,
Always have been. Why do you think NJ is 200 BILLION dollars in debt?
Boomers voted for the candidate that would give them everything, but not make them pay for it, leaving the debt to the youth.
Then off to Fla with a pension and all the money fat Mary Muppet received for her dump with the Pall Mall and dog p1ss aroma. (Credit to Fast Eddie)
Same with all the Billions for Ukraine. Boomer ain’t paying for that, they will be carbon dust by then.
Doesn’t a teacher’s pension rise with the more degrees they have?
Masters +30.
Tell me more.
“Juice: Yep! We are in to vote buying now, and if we protest we are cruel and heartless.”
Let them do it. Going to boomerang where it matters.
Saw this and thought of a few people in here.
https://twitter.com/gmoney918_/status/1534267541777940483/photo/1
Phoenix: True, at the state level. Now, it’s at the Federal level, which was previously just for the rich and powerful. Now, its student loan borrowers. Let’s just send all of us 50k tax free , and call it a day.
Seriously, how do you run up a $302,000 college bill? Do these people understand math and return on investment? How can I feel bad for you when I can’t comprehend how you ran up the bill this high.
Just to be clear Leftwing,
Jim Jordan:
“Even if I had information to share with the Select Committee, the actions and statements of Democrats in the House of Representatives show that you are not conducting a fair-minded and objective inquiry,” Jordan wrote.
Jim Banks:
https://twitter.com/RepJimBanks/status/1417270635735228416/photo/1
It is clear their intent was not to investigate J6. But believe what you want and that Pelosi acted in extraordinary fashion.
Our government is past broken. The Republicans are rude clueless assholes and the Democrats are corrupt hypocrites. Neither party cares about their constituents.
We need a center.
The Congress shall have Power
[…]
To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions;
To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress;
Juice: Exactly! That kind of debt, and then say it’s not your fault, and you did not know.
3b,
Name some other loans besides student loans that are non dischargeable in bankruptcy.
I can. This is what you call leverage.
These are the ones to avoid if you are an American Capitalist. They have the greatest reach into your pockets. I have to say I love the “attorney’s fees” one. Those ticks really burrow under the skin deeply. Well, since most of your govt is attorneys of course they are going to want direct access to your mains.
Employers demand college degrees. Advertise and market themselves as if whatever degree you get will make you millions. Colleges tap into government backed loans as they know private insurers won’t touch it unless they have “leverage” to hold you hostage forever until you pay. It’s parasitic just by the way it works.
I have posted before about colleges that lie and get the youth into debt-Frontline has done multiple episodes on this. But boomer don’t give an F. Boomer profits from using these kids and getting them into non-dischargeable loans then having them held hostage for years. If they don’t have good parents and meet a slick salesman who is pressured to get “students” this is what happens.
Eff ’em.
Debts left off the bankruptcy petition, unless the creditor actually knew of the filing
Many types of taxes
Child support or alimony
Debts owed to a child or ex-spouse arising from divorce or separation
Fines or penalties owed to government agencies
Student loans
Personal injury debts arising out of a drunk driving accident
Debts arising out of tax-advantaged retirement plans
Condo or cooperative housing fee debts
Attorneys’ fees for child custody or support
Criminal restitution and other court fines or penalties
Lib: We need a center, but we won’t get it. It’s in the interests of both parties to keep things as they are.
Leftwing,
On the boomerang. You are probably correct. The country is going to be run by the populists. And it’s going to be an absolutely terrible place for all but the rich heterosexual male.
I agree Biden (Pelosi’s puppet) has been an ineffectual president and an embarrassment. But four more years of a populist is really going to be a disaster. I won’t argue with you that the far left has gone too far and that the entire party has gone too woke. It’s crystal clear. But the populists are dangerous in my opinion. Not intending to start an argument or pick a fight, or even sway opinion. 2024 and on is going to be a legitimate disaster. Especially after the prior eight years.
Just wait until the recession hits this fall. When all of the surpluses become shortfalls. When all of the FED quantitative tightening return to quantitative easing and further money printing.
I just read that Westrock closed another paper mill. Another 450 great manufacturing jobs to be replaced by minimum wage retail jobs. Oh, it’s going get to ugly.
Leftwing,
On the boomerang. You are probably correct. The country is going to be run by the populists. And it’s going to be an absolutely terrible place for all but the rich hetero white male.
I agree Biden (Pelosi’s puppet) has been an ineffectual president and an embarrassment. But four more years of a populist is really going to be a disaster. I won’t argue with you that the far left has gone too far and that the entire party has gone too woke. It’s crystal clear. But the populists are dangerous in my opinion. Not intending to start an argument or pick a fight, or even sway opinion. 2024 and on is going to be a legitimate disaster. Especially after the prior eight years of legitimate disaster.
Just wait until the deep recession hits this Fall. When all of the surpluses become shortfalls. When all of the FED quantitative tightening return to quantitative easing and further money printing.
I just read that Westrock closed another paper mill. Another 450 great manufacturing jobs to be replaced by minimum wage retail jobs. Oh, it’s going get to ugly.
Sorry for the double post Grim and I appreciate your analysis on 2A. I think it’s pretty spot on. Though I would still argue whether or not semi and automatic weapons will make a difference for a state militia to be able to take over the federal government.
I work mainly with people younger than me-well educated- many are very idealistic and just trying to do the right thing-plenty even into their late 20’s can be easily manipulated if they come across the wrong cretin.
I can easily understand why and how they get into debt.
You boomer.
You marketed to them since they were kids. You marketed to them a lifestyle they should try to achieve. You marketed to them how money would make them popular. Your social media, your movies, your advertising.
It’s you.
Maybe if you set a better example of being a good human beings none of this would be an issue.
Fab – My only interest is who the “big guy” is. According to Bobulinski Joe Biden lied about his involvement and the money.
Biden has the DOJ is a real pickle now. There is more than enough for an indictment. U.S. Attorney David Weiss in Delaware has called in a long long list of witnesses to the grand jury.
Attorney General Merrick Garland may be hoping the clock runs out on his time at the helm of the DOJ, because if there is an indictment and a decision to drop the charges it will have to come from him. I am not so sure he wants to be another footnote in history as it’s always the cover-up and not the crime, just another Attorney General John Mitchell who sullied the reputation of the the DOJ and was sentenced to jail for conspiracy, obstruction of justice, and perjury for the coverups he orchestrated.
Though I would still argue whether or not semi and automatic weapons will make a difference for a state militia to be able to take over the federal government.
Never happen.
Govt can listen to your phone calls-they circumvent the 4th already.
They know where you are.
They know your friends.
They can pick you off in total darkness.
It’s laughable to think that should the govt let loose that a state militia would ever survive.
Just go to your job, pay your taxes, and die. Try and have some fun along the way.
We need a center, but we won’t get it. It’s in the interests of both parties to keep things as they are
Post of the day.
What do you all know of the credibility and value of a Lafayette or Lehigh degree? 1 and 4 Ridgers are going to each respectively next year.
Speaking of guns and DAs, it seems New York DA Alvin Bragg has changed his tune. Suspect is being held without bail for a gun crime in NYC? What happened to a kindler gentler approach to gun possession? The suspect Tyreke Colon was just trying to make a buck selling his wares on the streets of Manhattan just like all the other street vendors.
https://www.cbsnews.com/newyork/news/manhattan-da-alvin-bragg-praises-nypd-after-tyreke-colon-charged-with-trafficking-42-guns-from-north-carolina-to-nyc/
Someone made a decent post about why these people like McConnel, Feinstein, Pelosi, they never retire and “serve” until they die, even though they have hundreds of millions of dollars, they can’t quit and enjoy it without any responsibilities. Basically, congress is run like a crime syndicate, and the syndicate doesn’t let anyone else retire either. Once they retire, they are compromised. If they are always involved, they are complicit.
“All of the major broadcast networks plan to carry the Jan 6 hearing live, as do the major cable news networks, with the exception of Fox News.”
What a crock..delusional right Faux News sc&m. Not even interested in truth as usual.
BRT – Think of it this way, jihadists love to make speeches too. People who choose politics as a way of life like all of us feel the need to belong to something, but they just crave attention and power more and well in many ways Washington DC is like Hollywood with their fancy dress balls and award shows and they get plenty of photo ops and press interviews. Main difference is well they are just uglier, but many down in Washington DC can act pretty well that is for sure. Some even come from Hollywood like Regan and well Trump too.
Cumon Bystander – Fox will be covering it for their demographic with plenty of opposing views from their talking heads and will probably have banner ratings to bill their advertisers with.
There’s also an awful lot of money and gifts to be had from the lobbyists. Or in the case of Pelosi and most of them, on macro events that they make. So either you stay in politics and get rich. Or you get out of politics and use your prior influence and connections to serve on corporate boards where you too get rich.
Think they’ll get an interview with the Q’anon Shaman from prison?
“Think they’ll get an interview with the Q’anon Shaman from prison?”
Yes, he will be treated like Bobby Sands by right wing cult. Multiple deaths, 140 cops injured and they will act like holders of “rule and law and democracy”. What a crock that party has become..
Lib – According to some talking heads they had a clear plan to install Q’anon Shaman as the new speaker of the house!!!
He’d be an improvement for sure.
Phoenix: I will blame boomers for encouraging their children to attend high priced schools , that they can’t afford, so the parent can put the 5.00 sticker on their car. In my view it is criminal for a parent to saddle their kids with that kind of debt, and I know many who have done just that. I know other boomers who paid for these high priced schools with home equity loans only to be laid off. Again, some did it for bragging rights.
I know one person who claimed a certain private university in Connecticut was almost Ivy League. So yes I will blame boomers for that.
For my kids it was simple. If you go in state and get B or better in every course every semester we will pay, 100 percent. If you wish to go out of state or private Ww will pay up to the state university cost, and the rest is on you.
They took the in state deal. And all graduated in 4 years with no debt. I know others who went community college for 2 years and then transferred to a state university for the last 2 years and have little to no debt. It can be done.
“At approximately 1:50 a.m. today, a man was arrested near Justice Kavanaugh’s residence,” a Supreme Court spokesperson said in a statement. “The man was armed and made threats against Justice Kavanaugh. He was transported to Montgomery County Police 2nd District.”
The Washington Post first reported that a California man in his mid-20s was found “carrying at least one weapon and burglary tools.” NBC News then reported that law enforcement officials had told them the man had “a gun, a knife and pepper spray and told authorities he was there to kill Kavanaugh.”
https://www.yahoo.com/news/supreme-court-kavanaugh-armed-man-arrested-home-150707977.html
Bystander: he won’t starve himself to debt like Bobby Sands did.
Apparently another suicide by train in Glen Rock this morning. I believe this is the second one there in a month. Sad. Too many people struggling out there with mental illness.
“Guy sounds like a, “patriot” to me……”
That was stolen from the comments, but quite clever.
College costs . . .
Back in my day, George Washington U in DC was the most expensive college in the country. Today’s cost of attendance is $76,276 per year.
I googled it just now and apparently U. Chicago is this year’s most expensive college. According to the link below, cost of attendance is an eye-watering $85,536 per year.
Obviously, U. Chicago and other top schools are only charging $85k to students of rich households and lower-income students get huge fin aid, but there are plenty of private schools out there (that one has barely ever heard of) charging and getting similar $70k+ numbers somehow. I’m not sure when this crazy system topples over.
At $70k/year, it’s easy to see how debt levels can get into the range 0f $300k. I’m seeing it is about $33,000/year for Rutgers- New Brunswick right now.
https://financialaid.uchicago.edu/undergraduate/costs
3b,
Of course not. Sands was actually fighting for real justice not made up Faux News media BS. The rioters are just part of brainwashed Q cult who think they are the victims of something that Dems did. The Orange palpatine just lathered and frothed these low IQ dolts with his hateful rhetoric then left them to rot. There is no hope for people who still support the moron.
Bystander: Agreed.
Apparently another suicide by train in Glen Rock this morning. I believe this is the second one there in a month. Sad. Too many people struggling out unable to compensate for social/financial pressure.
Lead time for paper is already ridiculous, and continues to get worse.
“There is no hope for people who still support the moron.”
Yet nearly every single Republican left has taken this same hateful ideology and campaign strategy and now the country is going to be run by people who think it’s appropriate to give every person opposing them a stupid nickname, to shut the press out of whatever they choose and to lie and make false promises whenever it meets their fancy. Oh it’s going to be silly time here.
Oils at $123 and 10-year is at $3.02 now. I just paid $4.99 for regular, which was the best price in town.
All of this FED intervention appears not to be able to stem inflation one bit. Hmmmmm.
Phoenix: Perhaps. But, we never know what demons haunt some people. From what I have read it’s generally the quiet ones or the ones that seem to have it all together who are the most at risk for suicide.
I just paid $4.99 for regular, which was the best price in town.
It’s Trump’s fault.
3b,
It’s more than just the parents. There is a whole industry designed to profit from the youth. I’d wager that many kids don’t even truly comprehend the effect student loans are going to have on them.
College advisors and corporations that have quotas for their salespeople to meet by recruiting for students they know aren’t ready-but hey, get the numbers, get the money, who cares if they graduate? Frontline did a show on this.
It’s immoral. But hey, guess paying that worthless degree is a lesson so I guess you got one after all. Cha-Ching.
Phoenix: The parents have the obligation to shut it down, and tell their kids no. Many parents won’t. I saw this when my own kids were going to college.
3b.
Like this guy? Could be Glen Rock….
A timeless piece.
https://www.youtube.com/watch?v=r0HX4a5P8eE
“It’s Trump’s fault.”
Partially for sure. You can’t lower interest rates when you should be raising them. You also shouldn’t be printing money and handing it to people suffering no hardship to try to buy reelection. Then there is the impact of the tariffs and the complete failure and debt grower that was the Trump Tax Act of 2017. But that’s okay Gary, you can blame it all on the Pandemic and Brandon. I could care less.
Phoenix: I am sure that is representative of many Americans. Big hat no cattle.
Lib: Rates should have been rising before Trump took office. And, when Powell started to raise rates and Trump and the market howled, he should have told them to feck off.
Powell had another chance last summer to start raising rates and he dropped the ball again. Lots of blame to go around.
3B/Phoenix:
My kid might actually be the woke Jewish kid at Providence (cheap private education as he will get money). He will not be wasting my money unless he chooses a Cal State School to be near us when we move. There really aren’t many good cheap schools out west like there are here. At least we haven’t found them.
3b
Try shutting anything down during a divorce. I’ve been divorced almost 4 years and still haven’t settled retirement accounts. My ex just messed up my vacation. Uses the kid asa weapon.
Yeah, in a perfect family what you say works. But not when mommy tells your kid that daddy should pay for you to go to Harvard- and some effi ing jersey judge agrees. Or you have a dad that doesn’t want to alienate their child when mommy calls them a deadbeat when he suggests Rutgers.
So much goes into a family dynamic. Some parents are absent. Others are controlling.
Then you have “advisers” from the school. So yes, in theory, you are right. But the whole picture is much different-and many of these schools prey on the vulnerable youth. The schools know that once they become accredited they have access to all of that government money that is their lifeblood.
40% of student loan recipients have no degree.
That’s why I say partially.
But that’s the political game. Trump was in office on J6. Yet, he is looking to blame Biden for the lack of police presence and riot control. It’s all lying, all of the time. And people defend these morons. I haven’t voted for anyone but None Of The Above for years.
50% of college freshman don’t graduate.
3b,
Big hat, no cattle.
Happy wife, happy life.
Or put on some headphones and sit on the tracks in Glen Ridge.
40% of student loan recipients have no degree.
50% of college freshman don’t graduate.
This is where county colleges come in. They could help with both of these issues. Much less expensive also.
They should have robust counseling in place to help the youth overcome family issues if necessary to help them get on the right track. Good luck with any of this.
Phoenix: I understand there are multiple/ different situations, I am commenting on what I have seen and people I know, and the debt their kids or themselves or both are carrying.
My kids did not really understand how lucky they were until they got out into the working world and almost everyone they know have college debt.
There are parents out there, and I know quite a few of them who should have known better.
Phoenix: I know about crazy exs too. My Brother was married to one for 15 years, and divorced from her for 16 years, and now I understand she’s still in the background badmouthing my Brother to their kids. Meanwhile my Brother raised them.
You can’t fix crazy!! And they get worse as they get older.
Libturd,
“And it’s going to be an absolutely terrible place for all but the rich hetero white male.”
It looks to me like rich black, rich latino, rich asian, rich gay, and rich lesbians are all having a good time in America. And are all very much in demand to sit on Boards of Directors, thanks to ESG.
The latest WH spokeshuman is a triple threat on the diversity team, and seems to be having a great time with her lady friend at CNN Suzanne Malveaux too. I’m sure they are both paid well.
Deranged teachers who want to discuss their racial grudges or sexual preferences with their 8 year old students might become slightly more frustrated than they already are, if DeSantis wins.
Libs of tik tok is a laugh a minute
twitter.com/libsoftiktok?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
I’d have never heard about it unless the social justice media tried to shut them down.
3b
No argument from me, plenty of parents need to validate themselves through their kids.
Sad really.
My older sister went to Parsons School of Design in NYC. 150k in loans. Dropped out year 3 in Paris abroad. Went back in year 6. Was 1 credit shy of graduating and she refused to finish. She’s hoping for a bailout.
I mean, hell, we treat getting accepted into incredibly demanding and expensive schools like it’s the equivalent of hitting the lottery.
We celebrate it.
It makes the news papers.
Parents brag about it.
Tens of million of dollars in swag is sold to advertise how happy we are about it (bumper stickers, hats, tshirts, hoodies, etc etc).
Why is there any question at all why these kids rack up hundreds of thousands in debt?
Everything is setting them up for it. It’s like cheering them on as they walk into the arena to fight a gladiator. Huzzahh!
Phoenix: Agreed. Like all the parents who think their star athlete kid is going to go pro. I have seen that multiple times over the years.
2:25 holy crap
“Student Loan Forgiveness Makes My Grandson a Chump
He’s 18 and working two jobs to help pay for college. He could have taken out loans at taxpayer expense.”
https://www.wsj.com/articles/student-debt-forgiveness-makes-my-grandson-a-chump-summer-jobs-pay-loans-11654698177?mod=hp_opin_pos_2#cxrecs_s
Juice
That guy getting recalled is good news. Maybe it will wake up the democrats and corporate America to stop fearing the woke crowd.
I would lose it…tell her to grow the f up.
BRT says:
June 8, 2022 at 2:25 pm
My older sister went to Parsons School of Design in NYC. 150k in loans. Dropped out year 3 in Paris abroad. Went back in year 6. Was 1 credit shy of graduating and she refused to finish. She’s hoping for a bailout.
Looks like wealthy lesbos are having fun still. Populists don’t seem to be getting in their way.
buzzfeednews.com/article/hallielieberman/lesbian-sugar-mama-sugar-baby-relationships
In other news, American Dream Mall failed to make their semi annual coupon payment this month. 800 million bond deal , a big pile of horse shite. Those QIB “ s got screwed.
Vanguard released their 401k numbers as of end of 2021. Makes for a sobering read
The median 401k balance today is $35k.
40 percent or two in 5 have less than 20k.
The average person in the survey is in their mid 40s
Those closer to retirement are better , but not by enough, with a median balance of 90k. These are people in the 55 to 64 age group.
This after a massive stock market boom, and as the article also notes does not reflect what today’s balances are after the big sell off.
BRT: Not to pry, but why won’t she finish? That’s crazy.
Why does the taxpayer end up having to pay for this? WTF?! Go sue the employees that messed up. The legal system is a joke in America, and I play the corrupt lawyers who are the big winners from this bs shake down of the taxpayer.
“Gymnasts File $1 Billion in Claims Against FBI for Mishandling of Larry Nassar Investigation
The group includes dozens of women and girls assaulted while the agency ignored reports about the doctor—and the stars who raised the alarm”
“FBI missteps have been at the center of several large settlements recently, including at least one in which victims sued citing what they said were failures by the bureau to act. The Justice Department last year agreed to pay $127.5 million to families of students and staff killed and survivors of a 2018 shooting at a South Florida high school settling lawsuits over the FBI’s failure to investigate tips warning the shooter had guns and planned to attack. ”
https://www.wsj.com/articles/gymnasts-1-billion-claims-fbi-nassar-investigation-11654687049?mod=hp_lead_pos12
*and I BLAME the corrupt lawyers who..
For a lot of kids, getting into a fancy university does turn out to be a big deal, and a help for their lives.
However, the combination of good but not great yet expensive, plus a non-career-building major, plus the ability to borrow and help extend and pretend that mistake, that’s the big problem.
Elite schools blab about liberal arts education and tell you don’t assume your major, and follow your dream. Maybe it makes sense if you come from a wealthy legacy family and don’t really need to convert this expense into earnings quickly. But what a kid really needs is a discounted cash flow analysis. Upfront cost of school. Likelihood of getting a job related to a major, and starting as well as 10 year out average salary plus a range of outcomes. And then a lifetime cost vs income net present value analysis.
Instead, universities don’t really emphasize this reality-oriented stuff, instead hiring a lot of people to indulge the students’ feelings and fantasies. Taught by a lot of professors who also don’t spend much time in the real world.
It’s funny. I’ve now watched three different college advisors (for lack of a better title) all reiterate how the biggest mistake people make is going by name cachet/admittance rates to weight colleges. The problem with doing this is that admittance rates do not reveal anything about the quality of a college. It only tells you about how popular they are. Going by the rankings are the second mistake. Mostly, because these rankings are gamed by the colleges. So what does matter the most? Finding the right size, location and fit for the person entering the college. Stop thinking about what college will look the best on your child. Start figuring out which college is most likely going to help your child succeed with his or her unique learning attributes and which will provide the best opportunities for a successful exit. It’s really not about dollars and cents. Of course, I share all this with Gator and she says, “I’m trying to be cheap.” Gas up another six cents since this morning to $5.06.
No One: if money is not an issue, than people can send their kids wherever they want. But if you need to borrow 100k and more to do it, then it’s clear in my mind that it’s not affordable, and saddling a kid or the parents or both with that crushing debt is insanity.
I could have paid more for my kids education, but I did not see the benefit of overpaying for a basic BA/BBA degree.
Two of my kids went on for an MBA, one who was living near Rutgers at the time, and went there. We paid half of that as well. One of my other kids employer paid for their MBA. In my view unless you can get the alumni connections like the Ivy’s or baby Ivy’s it just does not matter. Once you get that first job and prove your worth where you went to school does not matter with the exception of the Ivy s , baby Ivy s.
Oh and by the way , Sacred Heart and Marist are NOT almost Ivy s as a couple of people have told me in the past.
My cousin’s kid is visiting schools this summer, she wants to work with animals. No not as a veterinarian but equine studies. Closest one is Centenary University in NJ. Tuition is pricey and graduation rate is 55%.
I told my cousin to send her to community and then see if she wants to continue after two years instead of taking out massive loans now to work with horses. Do you think my cousin will listen? We will find out but I have my doubts since they bought her a pretty expensive first car, no not new but a late model SUV instead of a beater. Never a good sign when the kids car is newer than the parents one. It will be mostly loans too from what I understand so giddy up….
3b,
Did they mean almost the cost of an Ivy?
Most private schools have similar pricing, even if their product and ability to get people jobs are dissimilar.
Though some schools will give bigger discounts than others via aid or scholarships.
No One: No, they meant the reputation of the school.
Juice: What kind of money does that career pay?
An interesting read.
https://www.psychologytoday.com/us/blog/how-train-your-boyfriend/202012/why-some-girls-and-women-love-horses-so-much
“With horses, women are practicing the same skills they use to train their boyfriends and children.”
Willlllllburrrrrrr!
3b – Probably allot less that the farrier we have in the family, and for that college not required. He has a massive new house he built on a large farm just by being the only sober farrier around, so he tells me anyway he shows up on time and gets paid allot by putting shoes on horses how much is still a mystery. It is either he is the highest paid farrier ever or he has some other kind of income we don’t know about. It’s definitely not inheritance..
Juice: Interesting. I had no idea the job paid that much.
I thought girls liked horses because they enjoy gripping a ton of muscle that’s bumping up and down below their loins.
Our experience with college, jr only applied to one NJ schools which he go into and with what we are willing to pay and the money they offered he would have had no debt, the problem with it was all his friends from HS got in as well and some were as he said not the brightest. Next two options which which had the lowest cost were URI(u are high) and St Joe’s in PA. St Joes list price was crazy but knocked a ton of off, he went to visit and felt like they were in a fake world, everyone was prime and proper and he was not comfortable and neither was my wife. That lead us to the two main PA schools and two schools from VA. PA schools were pricier and gave no $. For the VA schools he went with the bigger name but with hard work and networking can come out ahead. He had the option to be debit free but choose a school he was most comfortable with . He is graduating tomorrow and the new chapter begins.
Trick: Glad it worked out for your child. In my case, if there was ever an issue with not being comfortable, we would have adjusted accordingly. Some like big schools like two of mine, and one wanted small. The right fit is important, whether the food court is awesome or not on the other hand should not be part of the decision making process.
One of the biggest mistakes I made post-divorce was dumping this 25 year old NYC JAP who worked at national equestrian center in LI and ride horses entire life. Family came from Goldman money (I believe). That was a fun 3 months but I was ten years older than her. She was crazy about me and man, I would have been on easy street. She would watch MTV teen shows in my apt. So immature…I could not stomach that sh*t plus I would need to convert. Just not my thing at time. Now, I will be working stiff dealing with a-holes for another 15 years.
NYC/NJ/CT are special though..nothing to see here.
“A closely watched gauge of mortgage application activity slid to a more than two-decade low last week, as elevated home prices and rising interest rates dragged further on purchase and refinancing activity.
The Mortgage Bankers Association’s (MBA) weekly market composite index tracking mortgage loan application volume sank 6.5% during the period ending June 3. This represented a fourth consecutive weekly decline and extended a 2.3% drop from the prior week.
Refinance applications fell 6% week-on-week and were down 75% compared to the same time last year. Meanwhile, purchases fell 7% from the prior week, and on a seasonally unadjusted basis, were lower by 21% compared to last year.
“Weakness in both purchase and refinance applications pushed the market index down to its lowest level in 22 years,” Joel Kan, MBA’s associate vice president of economic and industry forecasting, said in a press statement. “
Bystander: I thought there was so much demand and do much money out there that rising rates would not be an issue. Oh I get it now, it is in other areas of the country, but not ours we are special.
Thanks 3b, my younger son is completely different and will probably go with a smaller school, but we still have a few years.
Come on. You know what’s happening. Less people are deciding to sell unless they have to. Why would they want to take on higher rates? At the same time, unless someone needs to buy, they are not buying right now with all this recession talk and a butt hurt stock and bond market.
Bystander says:
June 8, 2022 at 5:25 pm
NYC/NJ/CT are special though..nothing to see here.
“A closely watched gauge of mortgage application activity slid to a more than two-decade low last week, as elevated home prices and rising interest rates dragged further on purchase and refinancing activity.
The Mortgage Bankers Association’s (MBA) weekly market composite index tracking mortgage loan application volume sank 6.5% during the period ending June 3. This represented a fourth consecutive weekly decline and extended a 2.3% drop from the prior week.
Refinance applications fell 6% week-on-week and were down 75% compared to the same time last year. Meanwhile, purchases fell 7% from the prior week, and on a seasonally unadjusted basis, were lower by 21% compared to last year.
“Weakness in both purchase and refinance applications pushed the market index down to its lowest level in 22 years,” Joel Kan, MBA’s associate vice president of economic and industry forecasting, said in a press statement. “
5:18 cool story, bro!
A dufus once told me a long, long time ago (like last week) that higher interest rates won’t stop this demographic home buying and strong cycle will continue at least to 2027.
As we all discussed. Hmm, I just ate grilled chicken sandwich that barely fit in bun for $9 when months ago it overflowed from bun.
It’s the inflation you’re not supposed to see.
From toilet paper to yogurt and coffee to corn chips, manufacturers are quietly shrinking package sizes without lowering prices. It’s dubbed “shrinkflation,” and it’s accelerating worldwide.
In the U.S., a small box of Kleenex now has 60 tissues; a few months ago, it had 65. Chobani Flips yogurts have shrunk from 5.3 ounces to 4.5 ounces. In the U.K., Nestle slimmed down its Nescafe Azera Americano coffee tins from 100 grams to 90 grams. In India, a bar of Vim dish soap has shrunk from 155 grams to 135 grams.
Shrinkflation isn’t new. But it proliferates in times of high inflation as companies grapple with rising costs for ingredients, packaging, labor and transportation. Global consumer price inflation was up an estimated 7% in May, a pace that will likely continue through September, according to S&P Global.
“It comes in waves. We happen to be in a tidal wave at the moment because of inflation,” said Edgar Dworsky, a consumer advocate and former assistant attorney general in Massachusetts who has documented shrinkflation on his Consumer World website for decades.
Dworsky began noticing smaller boxes in the cereal aisle last fall, and shrinkflation has ballooned from there. He can cite dozens of examples, from Cottonelle Ultra Clean Care toilet paper, which has shrunk from 340 sheets per roll to 312, to Folgers coffee, which downsized its 51-ounce container to 43.5 ounces but still says it will make up to 400 cups. (Folgers says it’s using a new technology that results in lighter-weight beans.)
Dworsky said shrinkflation appeals to manufacturers because they know customers will notice price increases but won’t keep track of net weights or small details, like the number of sheets on a roll of toilet paper. Companies can also employ tricks to draw attention away from downsizing, like marking smaller packages with bright new labels that draw shoppers’ eyes.
That’s what Fritos did. Bags of Fritos Scoops marked “Party Size” used to be 18 ounces; some are still on sale at a grocery chain in Texas. But almost every other big chain is now advertising “Party Size” Fritos Scoops that are 15.5 ounces — and more expensive.
PepsiCo didn’t respond when asked about Fritos. But it did acknowledge the shrinking of Gatorade bottles. The company recently began phasing out 32-ounce bottles in favor of 28-ounce ones, which are tapered in the middle to make it easier to hold them. The changeover has been in the works for years and isn’t related to the current economic climate, PepsiCo said. But it didn’t respond when asked why the 28-ounce version is more expensive.
Likewise, Kimberly-Clark — which makes both Cottonelle and Kleenex — didn’t respond to requests for comment on the reduced package sizes. Procter & Gamble Co. didn’t respond when asked about Pantene Pro-V Curl Perfection conditioner, which downsized from 12 fluid ounces to 10.4 fluid ounces but still costs $3.99.
Earth’s Best Organic Sunny Day Snack Bars went from eight bars per box to seven, but the price listed at multiple stores remains $3.69. Hain Celestial Group, the brand’s owner, didn’t respond to an email seeking comment.
Some companies are straightforward about the changes. In Japan, snack maker Calbee Inc. announced 10% weight reductions — and 10% price increases — for many of its products in May, including veggie chips and crispy edamame. The company blamed a sharp rise in the cost of raw materials.
Domino’s Pizza announced in January it was shrinking the size of its 10-piece chicken wings to eight pieces for the same $7.99 carryout price. Domino’s cited the rising cost of chicken.
In India, “down-switching” — another term for shrinkflation — is mostly done in rural areas, where people are poorer and more price sensitive, said Byas Anand, head of corporate communications for Dabur India, a consumer care and food business. In cities, companies simply jack up prices.
“My company has been doing it openly for ages,” Anand said.
Some customers who have noticed the downsizing are sharing examples on social media. Others say shrinkflation is causing them to change their shopping habits.
Alex Aspacher does a lot of the grocery shopping and meal planning for his family of four in Haskins, Ohio. He noticed when the one-pound package of sliced Swiss cheese he used to buy shrank to 12 ounces but kept its $9.99 price tag. Now, he hunts for deals or buys a block of cheese and slices it himself.
Aspacher said he knew prices would rise when he started reading about higher wages for grocery workers. But the speed of the change — and the shrinking packages — have surprised him.
“I was prepared for it to a degree, but there hasn’t been a limit to it so far,” Aspacher said. “I hope we find that ceiling pretty soon.”
Sometimes the trend can reverse. As inflation eases, competition might force manufacturers to lower their prices or reintroduce larger packages. But Dworsky says once a product has gotten smaller, it often stays that way.
“Upsizing is kind of rare,” he said.
Hitendra Chaturvedi, a professor of supply chain management at Arizona State University’s W.P. Carey School of Business, said he has no doubt many companies are struggling with labor shortages and higher raw material costs.
But in some cases, companies’ profits — or sales minus the cost of doing business — are also increasing exponentially, and Chaturvedi finds that troubling.
He points to Mondelez International, which took some heat this spring for shrinking the size of its Cadbury Dairy Milk bar in the U.K. without lowering the price. The company’s operating income climbed 21% in 2021, but fell 15% in the first quarter as cost pressures grew. By comparison, PepsiCo’s operating profit climbed 11% in 2021 and 128% in the first quarter.
“I’m not saying they’re profiteering, but it smells like it,” Chaturvedi said. “Are we using supply constraints as a weapon to make more money?”
“I think we are way oversold (i.e. ARK portfolio). The bigger risk is not inflation but deflation. Just look at Target & Wallmart now sitting on high inventory & discounting, with cheaper prices”
— @CathieDWood #ARK
At Morgan Stanley Summit, Sydney today
Watch and learn.
Bystander says:
June 8, 2022 at 6:52 pm
A dufus once told me a long, long time ago (like last week) that higher interest rates won’t stop this demographic home buying and strong cycle will continue at least to 2027.
Prob peaks 2026…maybe 2027.
“Google’s Search for the Hybrid Holy Grail
In April, the tech giant started bringing its 165,000-person workforce back to the office three days a week. It’s one of the world’s biggest experiments in hybrid work—and no one’s quite sure how to pull it off.”
https://apple.news/ALr3FsVzZT1GJzcWX9L3NNw
FOR A COMPANY that’s supposed to be able to predict everything from what you want to search for to how long it will take to get to the airport, Google has gotten a lot wrong lately.
After two years of remote work, the search giant finally called its employees back to the office starting the week of April 4. On the second official day back, roadwork in Mountain View, Calif., caused an hour-long backup for workers exiting the main campus. In a few locations, some schlepped in for the first time in two years only to find themselves without a desk. And while Google says it expects 20% of its employees to eventually take advantage of its policy to work remotely full-time, so far a mere 5% have. Even the return date itself came with a string of misfires—new COVID variants and rising case numbers foiled three previous attempts.
The problem? There is no formula that can be written, no algorithm that can be tweaked, for the logistically challenging and emotionally fraught act of returning to the office tens of thousands of employees who have spent the past two-plus years working from home.
The only thing certain is that there’s no going back to the before-times when we compliantly plodded into the office five days a week to toil away at our cubicles. In a red-hot labor market, the most in-demand perk of office life is not having to go to the office at all. Not even Google’s famous amenities, which came to define the booming rise of Silicon Valley—the free food, the massages, the laundry service—can persuade white-collar workers to give up the flexibility that they’ve long craved and are now demanding. “The employee is king right now,” explains Nick Bloom, a professor of economics at Stanford.
Some companies, including Twitter and Airbnb, have responded to this era of worker ascendance by allowing employees to log on from anywhere. Far fewer—most famously Goldman Sachs—have demanded a five-day-a-week return, betting on the prestige of their brands to minimize defections to less rigid competitors.
Alphabet, Google’s parent company, has picked the third option: a hybrid approach in which employees work from the office three days a week and two from home. Which days depends on product area—for example, those working on search come in Tuesday through Thursday. Complicating things further, there’s the option to apply to opt out and become permanently remote, a choice that in some cases triggers a salary cut.
I’ve said this over and over on this blog. WFH is a result from an anomaly in the labor market where worker is king.
“ In a red-hot labor market, the most in-demand perk of office life is not having to go to the office at all. Not even Google’s famous amenities, which came to define the booming rise of Silicon Valley—the free food, the massages, the laundry service—can persuade white-collar workers to give up the flexibility that they’ve long craved and are now demanding. “The employee is king right now,” explains Nick Bloom, a professor of economics at Stanford.”
4:12 Pseudo-ivy out here was $88k a year. Kiddo is going to a very good place in NorCal in state for $28k. Thank you baby Jesus…..
It won’t work long-term…competition says so.
““If I knew how to do it, I would be writing it up in HBR. I don’t know whether it will work. It sounds like Google doesn’t know if it will work either.” —Joan Williams, Director of the Center for WorkLife Law, University of California”
7:39 Honestly dude. Give it a rest. I’m sure that your social sciences background and classroom experience are pretty toight, like a tiger. But You need to let this one go. It’s out of your wheelhouse.
Skimming today’s thread….. is there a question about colleges?
I have some resources. Please ask any reasonable question and I will do my best, or at least try to direct you……
By, all you needed to do was hold out on those MTV shows for another year or 2. It would have been over by age 28.
Insanely good year for the kids and i.
Just perfect. Of course admin hated me….
I think i’ll take up surfing.
BRT,
Dating women in NYC as good-looking, employed mature 35 yo male with own apt is a f-ing dangerous game. You are at a premium. They line up for you. It was a mind-f&ck..seriously. I was probably seeing 3 girls at that time and divorced maybe 6 mos. No one was getting me. I remember dating a doctor from Bronxville for a bit. She literally jumped me in her car after I took her out for dinner. It took several years before met future wife and decided this game is too easy and wanted something different. I was always a suburb living, relationship guy after college, probably even during college. G-D Catholic guilt.
I really do need to gtfo teaching. Thinking field sales. Tech.
Someone mentioned gas prices, starting July 5 Costco’s NJ locations will sell gas to members only. Price here is $4.87 cash or credit.. Expect King Murphy to issue an edict thou shall not restrict gasoline sales in my fiefdom or off with yer head…
My wife spun my head around so hard.
She’s 5’9″ blue eyed scandanavian. Mensa quality thinker.
You just don’t meet a woman like that every day.
It’s been the most important relationship of my life.
Challenging without a doubt. But damn. Since 93.
The best thing we did for our relationship was to wait a dozen years before we had a kid.
re: field sales. Tech.
Do you like Zoom?
I would say good luck with that. Lots of the big shops canned their field sales starting with Microsoft about five years ago, basically all the veterans were let go and then sales was brought inside completely. I am talking about people that still had their first name as the email address like David@microsoft.com…. real sales ballers who for sure made a fortune, hopefully they invested it.
Same with other enterprise tech firms. IBM and Oracle etc did the same about four years ago lots of field sales brought inside. Veterans who I knew for 20 years were canned and the sales organization flattened like a pancake. Inside was paid allot less too….
I also saw many transition to enterprise sales reps at AWS, Google, and others as well they want the enterprise business and will spend to get it. If you really think you can be a field sales baller try Google they are losing billions on their enterprise cloud and have shifted mgmt and strategy several times over the last few years. I was at a dinner in NYC a few years ago, the sales exec there came from Oracle she was running a very expensive tab to close what was a shitty million dollar deal at the time.
I don’t miss the old wine and dine days and big conferences etc and heck golf outings but they sure were fun.
I always love looking up who they quote in these stories
“Nick Bloom, a professor of economics at Stanford”
The man actually wrote a paper last year that argues the shift to WFH is because of tech, says nothing about workers being King of anything, and WFH is now permanent after Covid is over.
“COVID-19 Shifted Patent Applications toward Technologies That Support Working from Home”
“We examine the text content of US patent applications, identifying those that advance technologies in support of video conferencing, telecommuting, remote interactivity, and working from home (collectively, WFH). The share of new patent applications that advance WFH technologies more than doubles from January to September of 2020, greatly surpassing its previous peak and following an upward trajectory since the onset of the pandemic. This evidence suggests that (re)directed technical change in reaction to COVID-19 will raise the quality and efficiency of remote work, thereby reinforcing a shift to working from home even after the pandemic ends.”
Bystander re: “She literally jumped me in her car”
Were you in a garage? No offence to you but grinding in a reclining car seat is high school stuff, or worse an exhibitionist. Every get in an elevator in a tall building in nyc and a couple gets on and starts going at it?
You dodged a bullet I say…
Juice,
No offense. Honestly I was shocked, possibly metoo..hah. On street on UES, right outside my apt. building. Tinted windows. It was a nicer car than I ever owned. She a doctor on our second date, probably 34. I was not prepared for game shift. I had to chase none of them. Women over 30 get real aggressive. That clock ticking is no BS.
8:29 i cut my teeth on insude sales…kicked ass in outside sales and have several mid sized RS type IBM certs. They are good for life, but i need a refresh. Worked for Avnet, Tech Data, and others. I was always a decent foot soldier, but i’m just spit balling. SMB is prolly my sweet spot.
Woman who claims she got a sexually transmitted disease from an ex-boyfriend after sex in the back of his Hyundai Genesis is awarded $5.2 million settlement from his CAR INSURANCE company
The woman and the insured were in a romantic relationship going back to 2017
A three-judge panel found that the judgment entered against GEICO through earlier arbitration proceedings was valid
GEICO sought to undo the action, claiming errors were made in Jackson County Circuit Court
The insurance giant also argued the settlement agreement was not done in line with Missouri law
The company filed motions seeking a new hearing of the evidence and for the award to be tossed out
The company appealed after those requests were denied
“I don’t know the right way to do it, I just know that whatever you do is wrong and we don’t have to pay. Also your next insurance note is due so don’t forget your payment or you’ll get late fees.”
-State Farm
https://www.reddit.com/r/PublicFreakout/comments/v7s43w/snake_from_state_farm_tries_to_tell_roofer_he_is/?utm_source=share&utm_medium=web2x&context=3
Ten 305.4
So the crazy left if escalating to violence over Roe v Wade. First the 26 year old who flew out from California to murder Kavanaugh and now a protestor in LA taken down by secret service as she was trying to stop the presidential motorcade.
Not mentioned in the MSM for some reason. Watch the gun pop out of at 21 seconds as the cop wrestles with her.
https://twitter.com/HaileyBWinslow/status/1534689761306087424
Juice: The extreme left and extreme right are very similar. Who does the most damage?