From NJ1015:
Record streak for New Jersey job growth snapped in October
New Jersey’s economy lost jobs in October for the first time in nearly two years, snapping the state’s longest streak of job growth since at least the 1980s.
Preliminary estimates from the U.S. Bureau of Labor Statistics announced Thursday by the state labor department show that private-sector jobs grew for the 30th consecutive month – but that 6,700 increase was eclipsed by a loss of 8,000 public-sector jobs.
Combined that leads to a drop of 1,300 jobs in October, the first decline since November 2020.
Eight out of nine private-industry sectors recorded job growth – all except financial activities. The biggest gains were in trade, transportation, and utilities, up 2,400; professional and business services, up 1,900; and education and health services, up 1,700.
Most of the public sector job losses were in local government, accounting for 7,800 fewer jobs. That reversed an unusually large increase in September.
The overall job loss was small, and it’s possible the revisions next month could show there was actually a gain. September’s employment report initially showed an increase of 3,800 jobs, but that has been revised upward by 9,100 to show a gain of 12,900.
The unemployment rate rose by 0.2 percentage points to 3.5% in October due to people re-entering the labor force seeking a job. The labor force was 23,900 larger than one month earlier, when the total fell by an unusual amount, and it is now at its largest size since June 2021.
First
Epic meltdown at Twitter in the last day. It is a lesson for CEOs of any company that if you f-around you will find out etc. He laid off a ton of people estimates are 3,700 and they were down to around 3,000 as of yesterday, then he took away work from home (which they actually promised indefinitely under the former leadership), but had to retract that yesterday, ( you could work from home if your manager approves). Then there is the Blood Oath he put out yesterday with the five PM deadline.
Not sure if it true or not but the guy who managed the badge system was terminated and Elon had to beg him to come back to work because everyone was locked out.
Seems the only people left working there will be the H-1B visa holders. Was that the plan all along?
NJ lost 7,800 public service jobs? How? Retirements or people quitting and pay is too low to replace? Any fired for not getting Covid vaccine?
Looking for an online bank with highest 1-yr CD rates. Anyone have a link? Does it makes sense to wait until after the December FED hike? Thoughts, anyone?
OC1 (from last night),
As the resident expert on Las Vegas, the problem is not the water usage for residential. It’s the farming of the deserts that is causing the shortage. There would be plenty of water for everyone if we did not grow food in the desert. The reason Mead is so low is due to all of the water that is routed to the farms upstream as well as to Southern California (also mainly for farming). People don’t realize how much water farming requires. One acre uses 330,000 gallons a year. The average household uses 50,000 per year. In Las Vegas, due to water reclamation the average household uses no water indoors since it is 100% recycled. The other 60% that is not reclaimed goes to industrial and/or outdoor use.
Gary,
Check out State Bank of Texas. Or just open a high yield savings/checking account at nearly any of the online only banks. Most are doing between 3.25 and 4% interest now. Some have lucrative sign up bonuses, but watch out for the one’s who make you jump through hoops.
“Senator Cory Booker, Democrat of New Jersey, recently praised Elizabeth Holmes’s thoughtful focus and “determination to make a difference.”
If you’re a hyena, and all you do is run with a pack of hyenas, you think hyenas are beautiful. They’re pretty fucking ugly, actually.
Ex, seems like we actually hiked the same mountain from paths at opposite ends of the base. You want the lot next to mine on that flyover lake, you’re welcome. I’ll come by with a housewarming gift.
Elon has an uphill battle with twitter. Based on political donations, 98% of that company leaned ideologically one way, and now, he as the new owner, leans ideologically the other way. They aren’t on board with him as the CEO, they likely have to go. On one hand, the company was probably bloated, but on the other hand, he still needs a skeleton crew, and one that doesn’t subscribe to the idea that he’s the new source of evil in the world. Not an easy task.
Hold
Lots of teachers retired, I assume that is in that number.
Intro pay at most districts is so low, and the number of years required to get a reasonable salary is so long that schools are having a hard time replacing them. No one wants to deal with the hassle, especially the administrative BS and number crunching that comes with the job these days. Even in elementary grades, the back end BS that happens is kind of crazy.
People complain about a “10 month job”, but I know my wife puts in way more hours now then she used to, and she’s a 20 year vet. 7-4 daily, then anther 2-3 hours at home every night. She works way harder than I do. Her school is short a few people, and its not even in a “rough” district.
Most of the reason why they are now letting retired teachers keep their pension and get rehired to double dip. They need the bodies.
8:37 sounds like a plan :)
Gar,
https://www.bankrate.com/banking/cds/cd-rates/
Many innovations are the confluence of shrewdness and laziness. The compulsion to create the same outcome with less sweat.
The Great Pumpkin says:
November 17, 2022 at 8:39 pm
Pretty much convinced that work ethic and ambition defeat smarts long-term based on almost two decades with children
A lot of twenty somethings, now early 30s left the profession, most had tenure. Christie’s/Murphy’s health insurance costs made it economically unfeasible for them to continue. Those health insurance costs eat away whatever raise you would have in the 1st 6 or 7 years. And then the districts keep freezing the guide. Add administration hassling you every 5 seconds, it’s just not worth it.
Many of them probably recognize the pension is doomed, and aren’t going to put in 25 years to get screwed over in the end as well.
Prices reflecting rates? A sub-$500k listing is born.
131 4th Ave.
Westwood, NJ
4 Bed
2 Ba.
Ask: $498k
Cape Cod
https://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=22041236&openhouse=true&dayssince=15&countysearch=false
They destroyed teaching….who in their right mind would sign up for that now? Esp if corporate world only goes into work 3 days a week and gets paid way more. Houston, we have a problem….
There is a going to be a huge teacher shortage down the road….they keep kicking this can down the road till it’s going to be a huge problem. You can’t expect a professional in any field to work for 100k or less these days. Yet, they expect people to become a teacher making 60k for half their career? Yea, this might end well.
Lib-
Yeah, agriculture is definitely the big water user out west. Growing water intensive crops in the desert is sorta crazy.
Another weird thing about the west is their water rights laws.
In at least one western state (forget which one) a homeowner has no right to use the rain water that falls on their property! I read a story about the holder of the water rights in some area suing homeowners who were using rain barrels connected to their roof downspots to irrigate their gardens.
The New Jersey median household income in the past 12 months is $85,245 in 2020 inflation-adjusted dollars according to the US Census Bureau’s 2020 American Community Survey. New Jersey has 3,628,732 housing units according to the US Census Bureau’s 2020 American Community Survey.
Are they all professionals? Save your bs.
You want evidence that teacher’s are underpaid? Well, what does it say when they have no one signing up for it anymore? Very few people are going to college to become teachers anymore. Be thankful you still have people doing it at the current pay rate which is a joke.
I do think the water shortage thing is a little overblown. Building a water pipeline from the wetter parts of the country to the dryer ones would not be THAT big of a deal. The only reason they don’t exist now is due to how inexpensive water is. You could run the pipes directly below the major powerlines.
Teachers are paid like shit due to their union. It’s as simple as that. The union has no balls. It’s filled with a lot of incredibly overpaid executives who do absolutely nothing except funnel your union dues to our political leaders who turn around and raise your insurance rates and lower your pay. Lord knows I wouldn’t work for three years without a contract. Nor would I allow my union vice president run around and play mayor in Montclair. Not while I was paying him more than the President of the U.S.
Teachers should get together, strike and demand an immediate 25% pay raise. They would get it in three days, as parents would have to watch their kids during the strike and would not be able to work. But what do I know. Police and Fire personal are paid a bloody fortune for a job ten times easier than yours Pumps. Why is that?
Teaching is filled with intangibles, but “Yes” it’s not exactly a highly paid profession.
At best it is a very good second income with no travel and a set schedule, it’s good for parents. They won’t pay teachers any more, they’ll just lower the bar as to who can actually “teach”. Move those goal posts, it’s what we do best.
“I do think the water shortage thing is a little overblown. Building a water pipeline from the wetter parts of the country to the dryer ones would not be THAT big of a deal.”
I don’t know about that. Where would you pump the water from? The Great Lakes? The Mississippi?
Ignoring the political obstacles, you would need to pump the water over 1000 miles, and raise it over a mile.
That would be some pretty expensive water.
One researcher, Peter Fiske, may have the solution. Fiske is the director of the National Alliance for Water Innovation (NAWI) and Water-Energy Resilience Research Institute (WERRI) at the Lawrence Berkeley National Laboratory in California. He says that it can take many years to get a desalination plant built due to permitting issues, and moving so much water across long distances can add up financially. He thinks we should be thinking about a more distributed plan—meaning more, smaller desalination plants.
In a sign of Jeffries’ emerging power, Pelosi, House Majority Leader Steny Hoyer and House Majority Whip Jim Clyburn quickly backed him after announcing they would step down from their leadership posts.
Pelosi blessed the new trio of leaders expected to succeed them — Jeffries, Massachusetts Rep. Katherine Clark and California Rep. Peter Aguilar — in a statement on Friday. The House Democrats’ leadership election is on November 30.
https://www.cnn.com/2022/11/17/politics/hakeem-jeffries-next-democratic-leader/index.html
Are these 82 and 83 year old’s finally retiring?
Re-evaluating my remaining DNA position…stock hit all time lows yesterday and I’m usually not inclined to dump then especially when near term technical factors may show a bounce but my final tranche is still up just shy of a double and I don’t like recent events there…
Short term bounce may be in the cards as new shares placed Tuesday night look like they were puked up the next day or two heavily depressing price…that along with general price action has the stock firmly oversold…but…
The big red flags I don’t really don’t like…the offering itself which indicates concerns over cash, ie. Is there really a need for a company with $1.4B of cash to do an offering of $100m to backfill a small asset acquisition with the stock at 52 week lows? One would think not, unless the company itself was concerned about cash balances…also on the offering the fact that people puked up the shares right after (never good to have mass selling the days following a road show where you tell your story) and it was weak underwriter who placed it (ie, no more Goldman Sachs here, although there may be other considerations on that selection).
Second flag is some of the activity around VIEs….disclosed in Note 5 of the Q, seems like a lot of activity for entities that if valuable should be able to stay under the DNA stable longer…need more disclosures/color there. Again, feels inconsistent with the Company’s current balance sheet and stated business model…
Also, they did a ton of profitable COVID business which is obviously trailing off…as is their core Foundry business…that revenue bump and near breakeven will disappear as the COVID revenues do….
Anyway, I’m trimming the shares and will likely be out shortly as I’m building an options position for better leverage and defined risk…Feel stupid discussing defined risk for a company whose stock trades at a value equal to or less than most options, but these SPAC shitshows are what they are….
Bottom line, exiting the last tranche of my shares up nearly 1x and resetting a more conservative position with better leverage with options (rest of the returns were better in this position as this account’s CBM is Low Cost, don’t ask…)
FWIW…
Eddie – Marcus(.com), Goldman Sachs’ consumer facing online bank is up to 3%. It’s incredibly easy to open, fund and transfer out funds. You basically log in to Marcus, log in to your old bank in Marcus, punch the amount in aaaaaaaaand it’s gone…
just kidding, it shows up in Marcus in a day or two.
Boomer,
Looks like 4% for a 12 month CD. Did I miss something? And, I don’t have an existing account with Marcus.
Also, I believe Marcus’ product will bump your CD rate if it goes up. I don’t recall which CD product, but that removes rate risk for you.
You can get same rates with less duration by laddering treasuries but it’s work.
From Nerd Wallet:
https://www.ufbdirect.com/savingsaccount?utm_campaign=02462_DDU5_ufb_savings_nerdwallet_0422&utm_medium=affiliate&utm_source=nerdwallet&utm_term=72f06215b7df4db8be2bfad7d40fa057
3.83%
Never heard of this bank, no idea how safe but FDIC.
In recent past, cross river had issues, capital ratios I believe.
Fast Eddie says:
November 18, 2022 at 7:22 am
Looking for an online bank with highest 1-yr CD rates.
I deal with TD Ameritrade which has a distinct advantage over other rates. You can always sell the CD at any point without penalty. Treated like a bond and they make a market in it. Although if rates continue higher( Fully Expected) the value will go down, and if rates drop value increases.
Featured CDs
*FDIC INSURED*
Current rates, they were up to 5.6% and I can actually sell those for a profit.
Maturity [^] APY*
3 months 4% View 3-month CDs
6 months 4.5% View 6-month CDs
9 months 4.65% View 9-month CDs
1 year 4.858% View 1-year CDs
2 years 4.959% View 2-year CDs
5+ years 5.431% View 5+year CDs
Joining is free as well as all trades except funds which cost less than $5 to trade.My son who is a blue collar UPS driver was able to join all by himself… how ironic.
Just ladder. Rates are going higher.
There’s a few local banks offering 3.75 and a bit higher for a 12 month CD. I’m going to wait until after the FED December meeting and see if I can get closer to 4% or better on a 12 month certificate. I like walking into a bank and doing business. Silly, perhaps but it’s a personal thing, I guess. :)
Most of the links and ideas you guys presented are most welcome and if I see an offer I can’t refuse in December/January, I may consider an online transaction.
How about, I make my office look like a bank. I’ll even give you a free disposable pen. I’ll give you 4% on your money. I’ll put it in an online bank and will keep the difference. I’ll see you in another year. Does that make me a quant?
You can get online with Fidelity (or most of the others) in a 2 or 3 days now, you can buy CDs from dozens of different banks pretty easily.
I grabbed a few CDs in the last few weeks, their rates were really good. I think two of them were shorter-term morgan stanley CDs (2y or less) at around 4.9 and change.
I wonder if Musk spoke with some higher level Twitter managers before his decision to acquire it. Jack Dorsey was very much an absentee CEO, big into hippie shit and banging models. I have a suspicion that they had built up a big number of DEI hires, and built up teams of people more interested in censoring and steering conversations than actually facilitating conversation or generating revenue. I suspect with the CEO inattentive and a board more interested in ESG scores than profits, that Twitter had turned into a huge left wing bureaucracy, more interested in wasting time debating and having meetings amongst themselves and their pals in left wing circles, than in innovating for customers or making money.
The reason I suspect this is that this now appears to be the direction that companies are tending to go unless you have someone at the top steering it the opposite direction.
Fidelity even has put together some pre-made CD ladders.
Pretty easy to buy CDs through them, once you fund an account.
Fidelity’s rates for brokered CD’s pretty much matches the rates listed by Jim above at TDA.
To be clear, 12-month CD is 4.7% or so. I’m seeing 1-year CD’s offered at 4.7% from PNC Bank, Morgan Stanley Bank, SOFI, etc.
Fidelity, Vanguard, TD Ameritrade are brokered CDs, correct? Which means they can fluctuate in value. Am I right in that assumption?
Yep – 4.75 1 year right now
Boebert… the rat faced boy….wins again.
Oooof.
No One, that lawyer woman that he fired, she was head of content or something like that, she was paid 18 million dollars. And nothing she ever said in her public appearances ever indicated that she was ever good at her job or came close to adding any value to the company. Combine that with all the tiktok videos employees showed of how glorious their work day was, it appears there wasn’t much actual work done at the company…other than censorship, which let’s be real, you could hire a bunch of people to do that for free if you wanted to.
The water shortage issue is not overblown for the areas where they have cut farms off from access to the water. Ultimately, pipelines would solve this problem. There are states that could always use less water and states that could use more.
In the middle east, they are experimenting with a lot of success of transforming the desert into green land by sending wastewater there.
Given former President Trump’s announcement of his intent to run for president in 2024 and President Biden’s stated intent, Garland said he was obligated to appoint an outside special counsel so as not to investigate a political opponent.
Since 2018 Smith has served as chief prosecutor for the special court in The Hague, investigating war crimes in Kosovo. He will now return to the U.S. to oversee the Trump investigations.
Fast: Aa long as you hold to maturity you are fine, just ladder them out. As noted Vanguard has some very attractive rates, just finished purchasing some.
2:52 The middle east also uses drip irrigation which isn’t widely used in CA.
The State also needs to do a much better job at trapping rain water. Currently it rains and all that water goes directly to the ocean.
“supply side relief plus goods recession and high inventories, problem solved, new problem created”
https://twitter.com/passedpawn/status/1593675945222848512?s=46&t=HPb1_Bz3hlM3t5jtcNEUTw
Lefty,
On DNA, was blindsided by this cash move. Hope they clarify why they pulled this bs move. Stock market sent management a quick message on that move. They won’t accept it.
I was going to buy at 2, but didn’t. Kind of regretting it as I might not get another shot at it. We will see.
3b,
Yep. I was looking at some of the Vanguard products.
I found some recent footage of a speech by AOC.
https://getyarn.io/yarn-clip/d7f84627-3678-43e9-b385-977513059d9a
Eddie,
Yes they can fluctuate in value if you try to sell before maturity. Just make sure you don’t have to sell it before maturity, and you can ignore it. Also make sure you don’t select the automatic reinvestment at maturity. You get your principal back at maturity (and most of the CD’s also don’t pay the interest until maturity).
Ally Bank 2Y 5.13%….. buying secondary below par.
Fast Eddie says:
November 18, 2022 at 2:27 pm
Fidelity, Vanguard, TD Ameritrade are brokered CDs, correct? Which means they can fluctuate in value. Am I right in that assumption?
NY Times now reports 1200 people quit Twitter yesterday.
https://www.nytimes.com/2022/11/18/technology/elon-musk-twitter-workers-quit.html
Elizabeth Holmes 11 years
Wow, they really punished her. Most of the time they get a slap on the wrist.
Send that message loud and clear; fraud will be severely punished. Enough is enough.
maybe she can do some voice over work from her min sec pen.
SBF is going to have to up his dose of designer drug patches after hearing about this Holmes verdict.
Though I have to say that being a scam artist didn’t seem to stress her out as much as it did SBF.
For anything CD related check out the link below.
They keep the most up to date and largest list for banks and unions.
https://www.depositaccounts.com/cd/
Kevin O’Leary talked about the due diligence he performed on FTX for his investment.
“We met the team. We met their parents.”
BRT – Big red flag for O’Leary or anyone else invested happened a few months ago in August. Their quant fund that trade thousands of different digital coins and coin future and derivatives with an average volume of roughly $5 billion every day. Well the top guy sailed off into the sun on Aug 24th. The CO-CEO of the Alameda fund some guy Sam Trabucco quit and literally sailed off into the sun in a mega yacht.
It’s all gonna get swept away too. Just look at today’s action. Ok to appoint a special prosecutor for Trump but not the Biden family? 718 days until the next election folks……
Pumps – re: “Wow, they really punished her:”
We shall see about equal justice…Wait until her co-conspirator is sentenced on December 7th. It’s the same amount of wire fraud charges etc. Ramesh “Sunny” Balwani.
https://apnews.com/article/elizabeth-holmes-business-conspiracy-sentencing-0038d440bed66c42d9bc236c9bbd7801
Juice,
You know what’s messed up with the crypto fraud? It all was done on the centralized platforms adding fuel to the fire of the “decentralized cult” at the heart of the original bitcoin founder. They want the rules to be guided by logic and technology, who is not corrupted by human nature. Trick is, defending said technologies from hackers (digital human nature).
Human nature is such a disease. It’s never enough. Obsessed with money. These people are pathetic and worse than meth heads.
Money is great, if it’s used to enable a happier life. Half of these mofo’s create a life of sadness chasing money they don’t need and can’t let go of. It’s absolute insanity.
If you weren’t happy with 5 million, another billion is not going to make you happier. Yet they chase like lemmings thinking they are the smartest people in the room. Way to waste your life away chasing what you don’t need.
Seriously. What a stupid arrogant douchebag!
BRT says:
November 18, 2022 at 7:31 pm
Kevin O’Leary talked about the due diligence he performed on FTX for his investment.
“We met the team. We met their parents.”
Houston, we have a problem and it’s not inflation.
“Future supply chain stress nonexistent per November @KansasCityFed Index … outlook for supplier delivery times has crashed to lowest on record”
https://twitter.com/lizannsonders/status/1593578545481396228?s=46&t=pzGX-Gqva-LNsKtDc8JqFQ
Another reason we have an inverted yield curve. Supply chain damage getting repaired and inflation about to be history irrespective of Fed monetary policy. Looking forward inflation is already in the rear view mirror.
Lefty,
DNA updates.
“0.87% fee
Pay $870k to receive $100M
Confirmed with 2 industry sources this is an unusually low fee. Only way this happens is if the company finds the buyer
Otherwise, the standard fee would be 7%. Middle market and Bulge alike
sec.gov/ix?doc=/Archiv…
sec.gov/Archives/edgar…”
Was a buying opportunity…oh well. Market freaked out when it was really nothing. I could punch myself for not clicking “submit” on the buy side. Was at 2 flat and I played it like a pussy.
“we came to understand that—given certain minimum price and holding period covenants required by BAYN—it made strategic sense to transact this way… went into hands of more flexible long-term holders… While this logic makes sense, optics of deal caused sentiment to turn,”
-RJ
“When announced, this deal caused confusion: per Nov. 14 10-Q… had the opportunity to execute transaction using stock or cash. On closing the deal on Oct. 17, chose to transact in cash. Why, then, issue stock via a public offering (paying broker fees, etc.)”
-RJ
“determined that Offering would provide more certainty as to the price & distribution of its shares of Common Stock that otherwise would have been issued to BAYN. The Company’s strong balance sheet is an important strategic asset in this emerging field and economic climate”
-8-K
“$100M of proceeds to us, before deducting offering expenses… Expenses payable by us in connection with this offering will be approximately $870,000… have granted the underwriter a [green shoe] option for 30 days from the date”
-Underwriting agreement in prospectus
Yeah this guy will be great on a national stage.
It specifically outlaws teachings that may promote guilt or invoke senses of privilege for “actions committed in the past by other members” of a group.
“No one should be instructed to feel as if they are not equal or shamed because of their race,” Ron DeSantis, Florida’s governor, said in April, after signing the bill. “In Florida, we will not let the far-left woke agenda take over our schools and workplaces. There is no place for indoctrination or discrimination in Florida.”
The judge responded scathingly in his injunction, making a reference to George Orwell’s Nineteen Eighty-Four: “‘It was a bright cold day in April, and the clocks were striking 13,’ and the powers in charge of Florida’s public university system have declared the state has unfettered authority to muzzle its professors in the name of ‘freedom,’” he wrote.
“Defendants argue that, under this act, professors enjoy ‘academic freedom’ so long as they express only those viewpoints of which the State approves. This is positively dystopian.”
DeSantis has maintained a reputation as a crusader against progressive politics. Earlier this month he was re-elected for a second term and is reportedly considering a presidential run in 2024 against Donald Trump, who helped DeSantis build his national profile.
The judge’s ruling stops the law’s implementation in colleges and universities in the state. Walker in August blocked the law from affecting businesses, and other challenges are in progress regarding the law’s impact on K-12 education.
“Defendants argue that, under this act, professors enjoy ‘academic freedom’ so long as they express only those viewpoints of which the State approves. This is positively dystopian.”
Hmmmm…not dystopian, just standard practice. By the Left currently…..
I am hopeful that some prison administrator clicks a button or two to route Elizabeth Holmes away from a cushy low-sec prison to a medium-sec facility. Maybe one of her defrauded investors can bribe someone to make this transfer happen some random Friday afternoon. In theory, she’d be in with the tough crowd for a while before her lawyers could scramble and get her re-assigned.
All this POS does is LIE
https://www.cnn.com/2022/11/18/politics/fact-check-trump-special-counsel-response/index.html
10:47 nonsense
I’ll tag team anyone else who feels like replying to you with links. Too nice a morning here…
Examples are abundant not just of professors being muted and canceled unless they adhere to the current liberal orthodoxy but actually released, at least one with tenure IIRC…
CBS is leaving Twitter… they’re upset they can’t control the fake narrative any longer.
LOL.
left-
Restricting free speech via cancel culture is bad.
But restricting free speech via government enforced laws is much worse.
Reading comments sections on another website.
Poster’s handle was “Dr. Phil Ashio”
Exactly what I was saying with FTX….decentralized cult adding members.
“Sam created a million #Bitcoin Maximalists.”
https://twitter.com/saylor/status/1593974569622183937?s=46&t=ZaB-B9Y7wWF9yUdmk45G2w
You Tube queued this up
Robin Williams on Letterman. Must watch.
Such a throwback. Completely unwoke
https://m.youtube.com/watch?v=gjTe0osvW9E&pp=QAFIAQ%3D%3D
Pumps – re: your Your twitter link to Saylor…
BTW this is another dot com billionaire pumping Bitcoin. The man is maniacal, and a legendary party animal. He took his company down the Bitcoin wormhole, he could because he holds 70% of the shares.
I would not buy his shares… greater fool theory with bitcoin..
https://www.washingtonpost.com/dc-md-va/2022/11/14/bitcoin-billionaire-saylor-tax-lawsuit/
3:52…cocaine is a hell of a drug.
The Fed s Susan Collins said on Friday that she does not see prices waning, and 75 bp increase is still on the table; she further stated that it is important that people understand that.
It’s laughable that the fed is trying to do the opposite of what they’ve done for 15 straight years and are upset people don’t believe they have the fortitude to see this through.
Bankman-Fried stated that he regrets FTX filing for bankruptcy. Sure does, all his scamming is out in public and he’s going to serve time.
I foresee all the other crypto scammer doing ghosting. Avoiding any further action and just a website with a “ experiencing technical difficulties and will be right back” allowing for evidence destruction and getting away with it.
That’s it, Cathie! Fuck the haters and never give up on what you believe in.
“The bear market silenced plenty of tech bulls.
Not Cathie Wood.
ARK Invest’s founder and CEO sounds as bullish as ever.
I spoke with her about why…🧵👇”
https://twitter.com/jonerlichman/status/1594066063049732096?s=46&t=NFOLfW6Q31JFOgamC4gtlA
BRT: I agree it is laughable, and it goes to the credibility of the Fed. It may also be why they continue with the hikes as they said, and that includes 75 bp in December. If they go 50bp, then the chatter will increase that they are nearly done and or next they will pivot as in lowering rates. I also think it’s laughable that so many think we can go back to the days before Fed tightening of artificially low rates, with massive asset inflation and reckless government spending. The party is over.
“If you’re investment time horizon is long term then you will see the strategy unfold as AI, genetics, EVs, battery storage market innovation disrupts the incumbents.
If you’re a short term investor you’ll capitulate at the first downturn and blame @CathieDWood”
I’m sure as hell not missing this opportunity.
“Wood estimates investments tied to disruptive innovation to be valued at roughly $7 trillion in the markets.
She estimates that will rise to $210 trillion in 2030.
“It’s going from less than 10% of the market to more than 50%.”
Trump reinstated on Twitter by Elon. He says he is not coming back, we shall see….
3b,
What do you think is going to happen here? You think 7% rates will become the norm? Do you enjoy pain? Well, most humans don’t, therefore human nature dictates we will see low rates again when the economy/Fed come into confrontation with Mr. Big Bad Deflation himself. It’s inevitable. They will have to juice to keep it going, or deflation will keep going till there is almost nothing left.
“I also think it’s laughable that so many think we can go back to the days before Fed tightening of artificially low rates, with massive asset inflation and reckless government spending. The party is over.”