From the Star Ledger:
Netflix unveils huge $903M plan for N.J. production studios at ex-military base
Netflix unveiled plans Wednesday for an investment of $903 million into a production facility at the former Fort Monmouth in New Jersey that would serve as a central point in for the streaming entertainment giant’s East Coast operations.
The Fort Monmouth Economic Revitalization Authority voted to authorize Netflix’s plan when it met at 5 p.m. Wednesday, according to a joint announcement afterward from Netflix and Gov. Phil Murphy.
Though the deal will not be finalized until the due diligence period and local approvals process concludes, a supportive tweet from Murphy following the vote made it sound like a virtual certainty.
Netflix emerged in October as the top bidder among four seeking to acquire a 292-acre “mega parcel” that covers about a quarter of the longtime U.S. Army base, which closed in 2011.
The company disclosed the bid amount on Wednesday as $55 million with an additional $848 million planned to construct a massive, state-of-the-art Netflix Studios Fort Monmouth facility — a working but unofficial title, a Netflix spokesperson said.
Netflix is planning to develop 12 soundstages totaling nearly 500,000 square feet on the site, which is adjacent to Route 35 in Eatontown and Oceanport, among other additions. Renderings show multi-story production stage buildings and offices tucked behind the familiar Fort Monmouth archways.
…
Netflix estimates that, during construction, the project would generate up to 3,500 jobs. Once the facility is operational — Netflix did not provide a targeted opening date — it would provide anywhere from 1,400 to 2,200 jobs, the Netflix spokesperson said.
Well shit, maybe they’ll be famous too.
https://qz.com/ftx-gary-wang-alameda-caroline-ellison-fraud-guilty-ple-1849921872
second
Where is the hat tip?
Hat Tip to the guy in the office..
Here’s the TLDR:
SBF – Who me? No, me so stupid. Me no do fraud. I’m so sad now.
Penguin Girl – We stole from everyone, we didn’t even try to hide it.
FTX CIO – Yeah, we built a grand facade of regulatory safeguards than we just built a bunch of backdoors to commit fraud. We manipulated exchange prices in our favor to siphon funds. The whole thing was an elaborate scam.
Yay Crypto!
Speaking of Netflix one of their developers was on Twitter spaces and called Musk out about his velocity comment. Media is doing their best to embarrass Elon today, by taking it out of context, because he called the guy a jackass.
Listen to the “entire” conversation here.
Basically Elon says the whole stack needs to be reengineered. They have micro services with 200,000 lines of code! Trivial changes are not possible with Twitter and it cannot be run local on a laptop (Developers love this when working at home etc.)
Listen to the “entire” conversation here.
https://twitter.com/emanuelsanchezy/status/1605806255758381056
Yeah not surprised that they pled guilty so quickly. Like I said they must have all the internal chats etc from the Signal platform, rumor was the channel was named “wirefraud”.
When do Mom and Dad get picked up?
Jobless claims at 216. That’s still incredibly strong.
By the way for FTX. SDNY made a plea for the rest to come forward yesterday. “Let me reiterate a call I made last week,” Damian Williams, the US Attorney for the Southern District of New York, said in a statement. “If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it. We are moving quickly and our patience is not eternal.”
And the reason I mentioned the parents is the Dad is confirmed to be on the payroll.
To do business in the states they had to file with everyone. Federal FinCEN, and States etc, the compliance portion of their business was run by someone. International must have been an even more complex filings.
Law firms and accountants that specialize did all this work.
Just look at the org chart alone.
https://twitter.com/gurgavin/status/1590890218928115712/photo/1
Someone had to manage all of it. It was outsourced to a law and accounting firms, but I doubt SBF was up to that work of managing even that relationship. Perhaps his Dad ran it?
They had to file paperwork and lots of it just to be a money transmitter in all states..
When you register for a money transmitter license at the state level, you must do so for each business location. The application process typically involves the following prerequisites and supplemental items:
Surety bond
FBI criminal background check
Fingerprints
Financial statements
Credit report
Meeting minimum net worth qualifications (for licensee)
Business plan
Certificate of Good Standing
Registered agent
Management and organizational charts
Registrations with the Secretary of State and Revenue authority for that state
State money transmitter licenses must be renewed annually.
And on and on…FTXs auditors are being sued already. Prager Metis CPAs LLC and Armanino LLP….
Lock em all up.
Arrest them. Sue them.
As an end user, good luck getting back ten cents on the dollar.
I have a better idea. Put them out in the public square with those who lost money to them. And hire a hospital housekeeping team to clean up the mess afterward, pay them triple.
We don’t have a justice system, we have a legal system. I’d prefer justice.
Based on the demographics combined with so many people leaving the workforce….this labor bubble is going to be incredibly difficult to pop. I would not want to be the FED right now. Only way they can pop this bubble is by making this economy smaller. AKA maximum pain. They need a depression. Pure deflationary environment is needed…yet, they have all this debt to deal with. Good f’ing luck.
grim says:
December 22, 2022 at 8:56 am
Jobless claims at 216. That’s still incredibly strong.
You can’t eliminate inflation without popping this labor bubble.
I imagine the FED is going to try and overcome this through stagflation. Good luck.
The cost of the lawyers necessary to build that corporate structure was probably an astronomical sum.
Anyone guess how much of the “client’s” money will be absorbed by the fed in “fines”?
Any of these “fines” will be money that the end user is going to lose forever.
The mob always gets their vig.
I just can’t stop laughing at this crypto fraud. Bitcoin is not crypt0….that’s for sure. Bitcoin was created for this exact reason….to protect individuals value from dirty corrupt human beings. If anything, this fraud should make bitcoin that much more valuable as it is the only thing on this planet that can’t be corrupted by human beings.
Bitcoin and ETH are the only things I would trust.
Zero degrees in Amarillo, Tx, five in Lubbock.
Hope they updated their power grid.
Probably less than the amount of client money that will be siphoned off by lawyers.
Curious why anyone is considering paying off creditors before customers. Why is this even a discussion point that’s coming up? From my perspective, creditors, bond holders, equity holders, etc – these should all be looking at 100% loss should existing funds not be sufficient to make customers whole.
While SBF is an idiot – he makes a good point – why isn’t anyone paying back customers before even paying the lawyers.
re: Netflix & Fort Monmouth facility. I have my doubts…Netflix is getting lots of time to get the engineers down there to take a look see about 18 months? They can back out…
People have short memories…..Sandy was just 10 years ago. Fort Monmouth borders the Shrewsbury Bay on two sides. When I was house hunting I looked at a home there in Oceanport that was wrecked as had salt water in the house to the second floor and wave action as well….
Map —> https://tinyurl.com/4umnfeab
Even Hovnanian pulled out of a land purchase of the old military housing section to build hundreds of new town houses back in 2014 because there is no way to stop the flooding when the next one hits.
Crypto. Told you all it was complete bullshit.
SBF had said on numerous occasions that FTX US had sufficient funds to pay back all US customers. When’s that happening? Probably not happening at all.
I don’t disagree on the possibility of Netflix pulling out – it was the first thing that popped into my mind reading that article. Just wait until someone does a soil test, and NJ comes back to them with a billion dollar remediation request. Or even better, they get sucked into the black hole of local municipal planning and zoning, who will take months to even review a request.
Who plays Caroline Ellison in the movie?
I don’t know, but here is a rendering
https://hanna-barbera.fandom.com/wiki/Morocco_Mole
I really wish Apple would purchase Netflix. It would be perfect to grow their excellent Apple Plus portfolio. It would also grow the use of the Apple TV box which is really an amazing interface.
why isn’t anyone paying back customers before even paying the lawyers.
Because we have a legal system, not a justice system.
Of course they never baked that into the law. It doesn’t benefit them to pay the customers back.
“Of the 535 members of the 88th Congress, no less than 315 are lawyers. Sixty‐six of the 100 Senators have had legal training, as have 57 per cent, or 249, of those in the House. The second most popular profession in the Congress is that broad category called “businessman,” and it is less than half the size of the legal contingent.”
Netflix is going to need a heliport at that site, absolutely, this is for certain.
Can’t wait to hear all of the outrage about helicopters flying over Rumson.
Quality of life!
And for sure they can’t fly over the beach, that’s even worse!
Phoenix says:
December 22, 2022 at 9:12 am
Anyone guess how much of the “client’s” money will be absorbed by the fed in “fines”?
https://getyarn.io/yarn-clip/c199e4fb-074e-4a93-b24a-67a1909e5927
Juice: I think the site hugs route 35 not Oceanport. It’s the office buildings.
Correct absorbed
https://getyarn.io/yarn-clip/d7f84627-3678-43e9-b385-977513059d9a
re: paying back customers first?
Like the Madoff Victim Fund? I think they got a few billion from JP Morgan alone since they were the bank that allowed Madoff to operate unimpeded. The rest of the lawsuits clawed back billions from those that cashed out of the Madoff Ponzi first.
In the case of case of FTX fraud there were a million or so users of the platform, most had crypto stolen and whatever cash balance they had. Reports are the now they found a billion in cash. They crypto itself is long gone and probably washed over and over in crypto tumblers. Good luck trying to get back from some crypto college kids in Shandong province China…
Grim: plenty of copters already. There are hedgies that commute from Colts Neck. Also we get buzzed by McGuire/Fort Dix & Earle
Did the DNC jet pick him up the Bahamas. All those hundred of millions in stolen money used to buy a few elections. The swanky dinners, nights at four seasons, all stolen dough was spread around. The Clintons ,cooie Perkins, said it before, the dnc should be RICOd as a criminal institution.
At least ARKK didn’t make a 52 week low.
Chi – Perhaps they can film the next waterworld there after the sea level rises? Several projects over the years have withdrawn from their agreements to redevelop there, citing costs aka flooding….Hovnanian definitely cited flooding.
See yellow areas here (map below) that is what Netflix is buying for 54 million. According to the map 1/3 of the land in the MegaParcel is the 117 acres from Rt 35 to the old bowling alley that should be high and dry.. The rest is the land closer to Oceanport next to the river and bay.
https://tworivertimes.com/expanded-fort-monmouth-mega-parcel-released-for-bidding/
BTW the local towns have put in setbacks. Eatontown is 1500 ft that is more than a 1/4 mile. They will be dealing with Jersey Planning boards in Eatontown, Oceanport etc…Wish em luck even Kushner could not grease the wheels there for his Monmouth mall redevelopment. It’s still not approved, been many years.. Gotta get my taste…
Dark Brandon ain’t no one term loser
grim says:
December 22, 2022 at 8:56 am
Jobless claims at 216. That’s still incredibly strong
Just remember, oil went below zero. Where were all the value investors then? I didn’t hear them bashing energy back then…
Chicago says:
December 22, 2022 at 9:58 am
At least ARKK didn’t make a 52 week low.
Dark Brandon owns the douchebags.
And my G-d they are a bunch of feckless cunts.
I updated my Nasty Chart to include an overlay of the FED Lending Rate.
https://photos.app.goo.gl/JnbXkkcEpxEbfT566
ZIRP + STIMULUS = https://media.tenor.com/HOkiMqNm52sAAAAC/woohoo-party-time.gif
Just remember, oil went below zero. Where were all the value investors then? I didn’t hear them bashing energy back then…
Yes, we remember…we were buying. 12 months later, you were complaining about the price of gas at the pump
Lib, do you pay for a Trading View account or just use their free features?
I was hiring a junior software developer (~5 years experience) in the early second half of this year in New Jersey… (around $125-140K + bonus) had maybe 4 real people apply – rest were grad students, etc or people with no experience – labor market is extremely tight… even in other countries – we are paying people top dollar to join and stay. I will probably end up with a 2.5% raise at the end of the year as a top 30% performer… I think the lower end of the market is still extremely competitive, the higher end you are not seeing the same types of wage inflation… I doubt someone can go from $250K to $350K without a huge change in role/responsibility – I am talking from a Salary/Cash bonus – not the RSU game…
It’s down to 21 in my area. Was in the 40s a few hours ago. No precipitation but lots of wind. I put on the outdoor faucet covers, shut off the water to the sprinklers, and set every sink in the house to drip. At least this cold front is supposed to only be 3 days long, unlike the one in February 2021 that was a week long with power only only on a few times a day.
I also noticed vanguard ETFs are paying a very high dividend this quarter… while the year end one is usually the highest, I am quite impressed with what $VTV and $VTI are paying.
Over time I am really trying to make my portfolio simple with just a few ETFs and a big treasury direct account…
Sad to look at the $INTC stock i’ve held since 2012 basically flat on a avg price basis…
$DIS at a 1 year low, $PYPL as well… I think another 10-20% drop and you get some real opportunities, but i’d rather just load the boat on $VTI
Also – thoughts on IBONDS in 2023? Rate is currently around 6.5 but I am not sure if its worth maxing the $20K (between the wife and I) again in 2023… Feel like I am not going to gain 6.5% anywhere else
Lastly (from my cold induced posting frenzy) – did anyone get this virus going around… not covid, not flu, not RSV? and it made me lose my voice for 5 days – never had that happen before…
But, but the liberal media feeding people garbage is the problem. Faux news is not. Talk about useless muppet viewers:
At the center of this imagined plot were machines from Dominion Voting Systems, which Powell claimed ran an algorithm that switched votes for Trump to votes for Joe Biden. Dominion machines, she insisted, were being used “to trash large batches of votes.”
Hannity interrupted her with a gentle question that had been circulating among election deniers, despite a lack of supporting proof: Why were Democrats silencing whistleblowers who could prove this fraud?
In testimony, Hannity asked if he believed these claims?
“I did not believe it for one second,” Hannity testified,
Garbage network, garbage brained viewers
It must be a horrible existence to enslave your well-being to a political master… to tie your hopes of being happy on something or somebody you have no control over. Does being a liberal make a person unhappy or does being unhappy make a person liberal?
re: lost voice. Do multiple covid tests, this latest variant wrecked my wife and kids voices for a week solid. Dry sore throat.
We were supposed to fly out but plans have changed. My FIL had three surgeries last week. Poor guy was bleeding, so emergency room visit and he had his bladder bleed cauterized, a kidney removed a few days later and then a catheter to shock heart due to arrhythmia. Has been home since Saturday recovering. We were torn about going but he needs peace and quiet to recover and not get covid or flu, so we are home for Christmas this year.
My BIL and family as of today are not coming here from Michigan they are all now sick (did not test yet). I have a GTG at my brother’s Christmas Day, however my sister and her kids are now sick too, they think it might be flu. I told them to at least get tested as we don’t want dear old mom to get covid or flu either.
Stay well friends……I have a feeling after all the Holiday cheer there is going to be a run on meds and beds….
beer – outdoor faucet covers. I am not saying take them off but you may not need them. Most outdoor wall hydrants are now frost free they have a longer stem where the shutoff is actually inside the building.
But then again if the power goes out and the heat the leak could spring indoors, so make sure you can kill the water main preferably at the street…I can get to mine here cover comes off pretty easy…
https://www.youtube.com/watch?v=Qw830Vw6F-U&t=38s
Here’s my Xmas gift for the blog. SFW
https://photos.app.goo.gl/LB3HgLUuerCq5AhD8
BRT,
I pay for nothing. :P
Mike S,
The prior variant to the current strain of Covid killed my voice too. Could not get a word out. Was my first symptom. Take a test and then isolate.
People, wear masks wear exposure time to large groups of strangers is occurring. My family still does (we are pretty much alone), but I am the only one to get Covid so far and I’m still relatively certain I got it when I was unmasked with my brother who had it a couple of weeks prior. His wife or daughter was probably carrying it, but didn’t know it.
It’s f/ed. Stagflation seems to be the path forward. Will prob have 4-5% inflation for a while. Every year, it’s going to cost you more and more to hire someone to do work for you.
At this point, we are prob not going to have a recession. It’s impossible with this tight of a labor market. This is all my humble opinion.
Mike S says:
December 22, 2022 at 11:11 am
I was hiring a junior software developer (~5 years experience) in the early second half of this year in New Jersey… (around $125-140K + bonus) had maybe 4 real people apply – rest were grad students, etc or people with no experience – labor market is extremely tight… even in other countries – we are paying people top dollar to join and stay. I will probably end up with a 2.5% raise at the end of the year as a top 30% performer… I think the lower end of the market is still extremely competitive, the higher end you are not seeing the same types of wage inflation… I doubt someone can go from $250K to $350K without a huge change in role/responsibility – I am talking from a Salary/Cash bonus – not the RSU game…
I’m starting to think with all the focus on tech over the last 15 years, people are conflating a tech slowdown with a recession. You can’t have a recession with this tight of a labor market. NO WAY, NO HOW!
Look at how much the FED raised rates, yet still under 4% unemployment. What a disaster.
Juice
We’re on a slab in a 10 year old house. The only shut off valve for the outdoor faucets is to turn off the water to the house. I couldn’t believe that when we moved in here. Not even a shut off valve for them in the garage. Just the main water supply. I’m used to Jersey with a shut off valve is in the basement, I would shut off the water and then turn on the outdoor faucet to drain it. They also don’t blow out the sprinkler lines down here. I was told just turn off the water supply to the sprinklers and then turn on the sprinklers. I’ve done that and I think only the dribble hose in the flower bed will work to drain out a little water.
Thanks gents. Plan to test again today
Joyce would be proud of me; I walked through a packed mall the other day and actually put a mask on following my 14 day flu-like affliction. I don’t feel like getting sick again.
An ex Navy base sounds like a good place to make movies where everything gets blowed up real good.
https://www.youtube.com/watch?v=uHkvD7-u7y8
What? Caroline Ellison is going to walk completely? SDNY is going to try anyway….
Here is the agreement. How the heck are they going to get a federal judge to agree? There also has to be dozens of other jurisdictions that want her. England for one had something like 80,000 customers lose everything.
https://www.documentcloud.org/documents/23495436-crypto-cooperator-ftx-alamedas-caroline-ellisons-plea-agreement-inner-city-press-on-the-case
Any of the smart individuals in here want to explain to me how we have a recession with a tight labor market bubble that is not easy to pop without crashing the entire economy?
Watch how quickly employment turns in the recession.
Headwinds include, housing collapse, continued inflation, oil crisis, continued war in Ukraine, China Covid induced shortage of everything, auto market collapse, shall I go on? People have just started cutting back too. There is a lag from the time people go into savings mode to when it impacts companies and they finally let people go. Just wait for Spring/Summer.
And where’s my PhotoShop props? You think that shits easy? It took me a solid twenty minutes to finish that one up.
Thanks, Lib. Keep me on course.
I was starting to have second thoughts with everyone and their mother expecting a recession….so starting to try and think of reasons why it won’t happen.
December 22, 2022 at 9:58 am
At least ARKK didn’t make a 52 week low.
oof, just missed by 3 cents.
11:41 I envision you as a portly bald loser who married the first woman who called him
Back…..
https://www.nj.com/news/2022/12/project-to-build-1200-apartments-on-njs-gold-coast-gets-50m-in-financing.html?outputType=amp
I remember this project being on/off, the lawsuit, the allegations about Brad Wesley… looks to be moving forward.
Libturd says:
December 22, 2022 at 11:52 am
Here’s my Xmas gift for the blog. SFW
https://photos.app.goo.gl/LB3HgLUuerCq5AhD8
Lib , Thanks for the great post!! Happy Holidays. I always get a kick out of anything with the great Cathie W. Thumbs up!
Ed,
I am unhappy that I have a brother and sister who I love dearly but relationship hurt bc they believe the horse$hit flung on network. You will never find CNN, MSNBC at my house. My sister has faux news every morning. It rots brain. You will also be unhappy trying to retrofit a dogma of classical America that did not exist onto today’s world. You certainly seen upset about it.
But I will ask my brother where he got his news when he changed his fantasy tball handle to JoeLost.
HMB,
Good luck. Hopefully it’s of a short enough duration that you will be fine. I don’t like slab foundations at all but they do keep costs down…
Lib,
Agree.
https://youtu.be/bv3ZUzKGFTI?t=110
Libturd,
Thanks for the Christmas graphical humor! Arguably could have put Musk on the photo too.
I appreciate the thought you put into your posts, even when I think you’re wrong.
Funny that Tesla stock finally starts collapsing this year just after they started making pretty good profits. What Tesla fans didn’t really appreciate was the whole global auto industry is enjoying unsustainably high profitability and pricing created by the externally-created semiconductor supply constraints. But the Tesla cult are blaming everything on Twitter. They had plenty of notice that they should expect volatile behavior from Musk.
Feel better Mike.
Caroline Ellison:
My take- has mathematical intelligence, socially awkward. Infatuated with the gregarious SBF, couldn’t control herself. To an extent I think she is a victim.
Now Lib, put her head on Mt. Pinatubo. Let’s see how much a face makes a difference.
First fully automated MCDs.
https://twitter.com/elijahschaffer/status/1605755275134537728?s=46&t=YzgxDBmjol1-iCv10LhubQ
Phoenix
Thanks. There are very few basements in DFW area due to the soil. The only ones I e seen were built into the side of a hill.
On the bright side If I had a basement I would just fill it with stuff I don’t need and would rarely use.
Jim,
This one’s a little more subtle. Also SFW.
https://photos.app.goo.gl/PtcZP6xyjtEKZ3aP8
Feel better Mike.
Wow SBF out of jail. Somy surety company posted his bond $250 million. The fee for that at a minimum must be $25 million. His parents got that kind of scratch, or perhaps there is some crypto king feeling bad for him?
For Phoenix
https://photos.app.goo.gl/V4enY4yNFgvjktZB8
Yup.
https://bit.ly/3FOlQ3w
Everyone I know is sick, including us. My crew is tired of being sick. The flu last month now this. Just nonstop. We just had to cancel plans for a much anticipated dinner with friends.
Mike, you can also gift ibonds to minors, and iirc even leave some in a gift box for next year delivery (while it continues to accrue interest).
Joyce, River road is ensnared in awful traffic almost daily. The town busses school kids out to Leonia as the one school in Edgewater is completely full. There’s no thought given to the effects of over development on the only road in town. Two lanes in each direction, which flood in multiple places when it rains heavily.
To be whisked off to a place where he cannot be extradited…. SEE YA!!!!!!!!!!
FTX founder Sam Bankman-Fried is FREED on $250million bail – the largest pre-trial bond in HISTORY – after returning to US from Bahamas: Family puts up home as collateral
Lib,
Haha.
Chifi was right. It was Topa Topa.
Yeah. He was sprung pretty quick. All that palm greasing paid off. $5M to the big guy up front, pretty cheap to buy a president. How many of hunters paintings did he buy, we don’t know. This is a third world country now.
If SBF bought Hunter’s art, I think it would make the news. At least Fox News.
I wonder how Michael Lewis’ book will be. I have a feeling that Lewis might have bought into the SBF BS, was impressed with the “effective altruism” crap etc. But his re-write will have him suspecting the grift all along.
Is everything a conspiracy on the right since they don’t do anything?
You wonks on the right don’t realize how stupid you sound when you claim he only bought favor from the left. He also gave millions to dark money campaigns on the right, where of course, donors are not listed. You know, the right, that is so for transparency.
She/hers etc:
https://www.instagram.com/reel/Cl1AzdOgaMs/?igshid=Zjc2ZTc4Nzk=
Stu, very talented keep it up! Laughing at Cathy and SBF are the best part of my day.
Right. I didn’t mention the 1% he gave to the republicans in the finance committees. My bad.
He’s a dyed in the wool lefts. Berkeley, academic parents, activists, all the pedigree. Funneled the money to all the right places.
Lib- SBF was hob knobbing down in DC to get his legislation passed. It was the Democrats that took more money and put forth his legislation. It’s freaking nicknamed the “SBF Bill”.
IN the House —> Rep. Maloney, Sean Patrick [D-NY-18] H.R.8950 – Digital Commodities Consumer Protection Act of 2022
In the Senate —> Sen. Stabenow, Debbie [D-MI] (Introduced 08/03/2022) S.4760 – Digital Commodities Consumer Protection Act of 2022
I am in no way saying the republicans are not involved (dark money) but this legislation to make crypto legal and all was being pushed by the democrats.
What they were after is what the media was saying that he could become a trillionaire! He is brilliant bla bla bla. Imagine the institutional buyers could legitimately invest in shit coins with your money…!!! Hahahahah…would have been worse than the housing blow up in 2008…
And we don’t know who is buying hunters excrement and for how much. There is no disclosure. He has an exhibit right now. A total grift.
I think they dumped about eight of Hunter’s paintings for 1/2 million last year. This year much more asking upwards of a 1/4 million a painting. No worries of ethical breaches, the plan is to completely shield information on the prices of paintings and who the buyer was. Putin could buy them and we will never know.
You folks BTW do not understand the art world. Some of the worst people in the world own all the best artwork. It’s all about anonymity, as long as the wire clears from a London bank nobody bats an eye.
I am not kidding either, supposedly 1,000 works by Leonardo da Vinci, Michelangelo, Rembrandt and other Renaissance artists now all owned by Putin.
So it turns out SBF got the same judge as Madoff who was also released on bail.
The bail is $250 million sounds big but it’s a “personal recognizance bond”…..nobody is getting a payday off this bail, parents home might be worth a few million.
Just don’t deal drugs folks you won’t have to be in the pokey as a flight risk if you have money.
6:40 u mean like stealing from a veterans charity. You Insipid turd.
Buy a f-cking clue. Better yet? Move your dumb ass to Russia.
“David Tepper on @SquawkCNBC: “Ill be short bonds … (and) leaning short on equity markets right now.” Says this because he believes what central banks are saying – that rates will keep going up.”
The Great Pumpkin says:
December 22, 2022 at 7:43 pm
Actually CD rates from TD America have dropped 1% since Powell raised the rate an additional half percent. Stock market will probably lose another 10- 20% by the time Fed “PIVOTS”. It looks like many people are not prepared for what is going to happen.
By the way the “PIVOT” will only be a stop, not a lowering of rates. I am amazed when the market jumps 4 or 500 hundred points at a time. Almost like they don’t believe the Fed.
Goldman Sachs’ Marcus consumer savings up to 3.3%. Not bad for cash management.
Jim: Many don’t appear to understand the difference the definitions of pivot and pause. And yes the Fed will pause for some time and then pivot to lowering rates. Some believe that means rates will go back to what they were before the Fed started to increase. I believe they are wrong. The Fed won’t go back to quantitative easing. The era of artificially low rates is over. The Fed did serious damage with their policies, we will be back to normal rates.
Pumps …can you read people? Watch Tepper..a free money junkie…soulds like he lost money this year and now he is pivoting late….. He ain’t fucked but allot of people are.
https://www.cnbc.com/video/2022/12/22/billionaire-investor-david-tepper-im-leaning-short-on-equity-markets.html
I’m moving to the dark-side. For once, I am on the same page with you, EXCEPT on QE.
3b, do you see the coming demographic disaster combined with high debt? They are going to be forced to go to negative rates to spur demand. They are f’ed. Of course, a monster crash erases all their mistakes. It’s hitting “reset” on the video game.
The market is this simple in my mind.
Remember the key here: this market is now meant to take money as oppose to make money. That’s how you kill inflation.
Doing Gods work, making themselves rich, and who knows what with the altar boys:
“We are a ministry,” Anthony Tersigni, Ascension’s previous chief executive, said in 2007. “We’re not a business.” (Mr. Tersigni now leads Ascension’s investment arm, a job that paid him $11 million his first year.)
In 2010, our sponsors recognized Ascension Health as a ministry of the Catholic Church transcending individual sponsoring organizations and determined a non-congregational sponsorship model would strengthen our ministry.
https://archive.vn/popCC#selection-859.20-859.30
jj lives (WWII Edition):
https://nypost.com/2022/12/20/man-with-wwi-explosive-lodged-in-his-rectum-sparks-bomb-scare-hospital-evacuation/
Hahahaha
https://www.instagram.com/reel/Ckt8BYzgmA9/?igshid=Zjc2ZTc4Nzk=
Cap’n Cheepo- analyze this deal…
Tesla is offering a rare discount on two top-selling electric car models until the end of the year as demand for the vehicles slows.
The Texas company began offering a $3,750 incentive on its Model 3 sedan and Model Y SUV earlier this month, but on Wednesday it doubled the discount to $7,500 for those who take delivery between now and December 31.
That’s not bad, $42k on a model 3 puts it below a LOT of others in the category.
By the way, that Kia EV6 GT looks insane.
Phoenix,
I’m seriously not an EV fan, so until I can get one in the 20s. Fuhgeddaboudit. I’m not saying it might not be right for others.
Here are my concerns:
1) If you are doing it for the Earth, then you are virtue signaling at best, here in America, where 65% of our power is still generated by fossil fuels.
2) I really, really, really think our grid will not be able to handle the demand all of these electric cars will place on it deeming EVs practically useless for a number of years.
3) Sorry, but I’m not sitting at a charger for 45 minutes on a trip over 4 hours.
4) Range envy is one thing I care not to worry about. Did I mention that it’s cold around here.
5) Tesla’s reliability is doodoo. Though there are significantly less moving parts (translating to less wear and tear) in an EV, so far, the engineers at Tesla can’t even match the reliability of a gas guzzling FIAT. For the mid 40s, you can get a GT model of nearly any Japanese car with all of the bells and whistles and none of the recalls.
6) Tesla tires absolute render your car useless in the snow.
7) Gas is going to get cheaper as everyone switches over to EV.
8) It’s the least of my concerns, but to pay nearly 50K for that UGLY of a car, is beyond me.
9) I think Elon Musk is a bigger asshole than Trump.
YMMV!
Cap’n Cheepo- analyze this deal…
If you had a long term plan to buy one and you can make the deal happen, then an 16% discount is worth considering.
The bigger issue is why they are doing it. Trying to recognize revenue like this before year end, suggests sales are way down. Given the state of the stock price, I think the canary just died.
This company is in bad shape, lets see how Elon spins it.