From the Philly Fed:
State Coincident Indexes – November 2022
The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for November 2022. Over the past three months, the indexes increased in 35 states, decreased in 11 states, and remained stable in four, for a three-month diffusion index of 48. Additionally, in the past month, the indexes increased in 30 states, decreased in 13 states, and remained stable in seven, for a one-month diffusion index of 34. For comparison purposes, the Philadelphia Fed has also developed a similar coincident index for the entire United States. The Philadelphia Fed’s U.S. index increased 0.8 percent over the past three months and 0.3 percent in November.
Pennsylvania
In the three months to November, the coincident index for Pennsylvania rose 1.2 percent. The level of payroll employment increased over the past three months but remained slightly lower than that of February 2020. The unemployment rate fell during the three-month period. However, average hours worked in manufacturing fell. Overall, Pennsylvania’s economic activity as measured by the coincident index has risen 6.5 percent over the past 12 months.
New Jersey
In the three months to November, the coincident index for New Jersey rose 1.7 percent. The level of payroll employment increased over the past three months. The unemployment rate fell significantly during the three-month period. In addition, average hours worked in manufacturing remained stable. Overall, New Jersey’s economic activity as measured by the coincident index has risen 5.5 percent over the past 12 months.
forst
Looking at the Amazon layoffs – primarily in Amazon Store (Retail Store), Amazon Fresh (Grocery Delivery), and Amazon Go (Grocery Store)? Doesn’t seem to jive with the broader narrative around “tech layoffs” – this sounds more like Amazon pivoting away from being overweight brick and mortar retail after the Whole Foods acquisition.
The other large group impacted is PXT, which sounds like HR in a nerd costume. I can’t imagine the huge number of wildly expensive, nonsensical HR projects that existed in that team.
Greenspan says he did it better, only he has the skill to navigate a soft landing.
Alan Greenspan says US recession is likely
Yesterdays posts about coasts continuing to add population. As WFH evolves, if a few days a month required in office, VTOL tech might be the workaround to dedicated high speed rail for those in exurbia and the germans (https://lilium.com/jet) have a jet like one that travels well over 100 mph.
https://www.axios.com/2023/01/05/stellantis-archer-aviation-flying-taxis
Flying cars?
Hoboken City Council tried to ban helicopters this week.
The FAA laughed at the audacity of their belief they had authority to regulate air travel.
Grim
I think he said you can’t see a bubble. As he had the massive tech and real estate bubbles under his watch.
Aside from the Northeast, it’s apparent the red states are fairing as well or better than the blue states. The deplorables and freedom fighters are indeed the background of this country. They’ll keep earning and dying for liberty while the elites continue to outdo each other illustrating their faux compassion and virtue.
Aside from the Northeast, it’s apparent the red states are fairing as well or better than the blue states.
How did you get there from here, because of Texas and Florida?
Every time I hear Greenspan’s name I think of my Grandmother, she could not stand the man.
Washington State and Oregon seem to be living off the teet of California. Not that that haven of liberal duplicity is fairing all that well. Without Cali, the Northwest looks like Vermont, another asylum for progressive pietism.
Washington State’s GDP Per Capita for Q3 2022 was $94k per person, compared to Texas at $80k, and Florida at $63k.
Texas will shift back to solidly democrat in our lifetimes, I guarantee that. What fuels it’s growth is the same thing that guarantees the demise of the R’s.
Return to it’s roots really, Texas was almost exclusively democratic over the last 100 years anyway (from 1873-1978 an unbroken line of Democratic governors).
“ if Kevin McCarthy had had the guts to expel every insurrectionist from Congress, he wouldn’t be going through this right now”
re: Hoboken Helicopters.
More politics, the airspace over NYC high-rises has been closed for helicopters and light aircraft for many many years now, lots of those flights take off from Kearny and fly up over Jersey City and Hoboken to get to the city and they all jam into the small corridor of space over the Hudson river and have to stay below 1,100 feet.
I used to have a place overlooking NYC by Stevens Institute on the hill, had a nice NYC view. The Helicopters tours would get going 9AM and run into the night generating nonstop noise pollution, it definitely could be heard inside the house and was loud enough to wake sleeping children etc, so the complaint is not new that is for sure and probably causes people to move out of Hoboken.
One day in 2009 there was a collision between a plane and a helicopter there, like 7 people died copter and plane parts were scattered everywhere on waterfront and Sinatra drive. I don’t think it is asking too muck to keep the helicopters over the train lines up to the the river and avoid the populated areas they have been asking the FAA for years but Alas Hoboken is not Manhattan they won’t get what they want.
We going 9 for 9 today?
9/11 all but guarantees that air traffic routes are going to be preferentially shifted towards NJ.
Ex,
When is the main shark-jump? Season 5?
I just finished season 4.
Large numbers of murders without consequence is already pretty unrealistic.
I’m guessing political elections is too far from the show’s native environment.
Taking Indian drugs to see the future also seems pretty dumb.
John Dutton is like Archie Bunker. The un-pc backwards villain that people like better than the supposed modern good guys.
Per Capita: I think Florida and Texas have slightly more people than Washington State. Are you trying to contradict the coincident index you posted?
Texas as a democrat state: You mean when democrats were yesterday’s backbone of the nation and not today’s story time drag queens?
I think Alan meant breathing room. Not skill.
Juice, when I was in DC, they ran some night time drill with all those Stealth Helicopters. Saw one land on the building next door. The thing was dead silent.
lol, yesterday looked like I got blown out of the water on Silvergate when it jumped to $21, just covered shorts premarket at $14. From -25% to +25% overnight.
NY State legislature tried to ban the tourist and commuter helicopters too it was passed but also just vetoed by Gov Hochul last month, she claims FAA but in reality her fat cat donors that use the helipads to fly to the Hamptons probably made a few calls. There was also federal legislation introduced that did not get a floor vote.
https://observer.com/2022/12/governor-hochul-vetoes-bill-banning-non-essential-nyc-helicopter-flights/
By the way the Uber Copter operates from from Pier 6 in NYC to JFK, if you live below 110 th st and need to get to JFK it will appear as an option when you book on Uber. A car will pick you up from your apartment and take you to the Helipad for a quick flight to NYC.
8:22… you’ll see :)
Washington like VT…. riiiight except for Msoft & Boeing ….
Washington like VT…. riiiight except for Msoft & Boeing ….
Boeing moved to Virginia, a state with a Republican governor.
Eddie- downtown Chicago..to Arlington Virginia, makes it easier to lobby when you are next door to the congress critters.
Jobless claims still low; job gains still steady… no FED cuts for 2023 and… beyond?
Given how fast EV’s depreciate, with an almost implicit understanding that at the point of resale your car will be old tech, I wonder if picking from the Copart lot makes sense.
https://www.copart.com/lot/69826912/salvage-2022-hyundai-ioniq-5-limited-nv-las-vegas
56,000 Boeing employees in WA state .
Curious about the Republicans or those who identify as conservative here and where they line up regarding the election of speaker. Do you say, get on with it and govern? Or do you say, keep up the fight and burn it all down?
56,000 Boeing employees in WA state
WA state lost 10s of thousands of Boeing jobs due to woke policies and over-regulation.
“Woke” geeezus man get a f’ king clue.
grim says:
January 5, 2023 at 8:07 am
“Texas will shift back to solidly democrat…What fuels it’s growth is the same thing that guarantees the demise of the R’s.”
Please clarify…Are you insinuating that because Texas is well-governed and jobs and opportunities are plentiful, that it will attract blue state liberals in large enough numbers that they’ll eventually vote-in the Dems who’s policies caused them to migrate in the first place? This is certainly a worry among the R’s that have already fled south.
In any case, it’s obvious from some of grim’s recent posts — the inevitable rosy future for the NYC metro, Dem takeover of Texas, etc… that he’s young, and lacks the context one only gets with age. Anyone who lived through the 70’s knows what NYC was once like, that the golden age that it has experienced, and is largely the only way that non-boomers know it, was facilitated by a Republican mayor who tackled crime and made people feel safe enough to want to live, work and invest in the city. Those of us of a certain age also know that it is not inevitable that NYC’s golden age will persist, and that it can, and likely will, be lost if bad (Dem) governance is allowed to fester.
As for comparing income between Wash and Tex, this once again shows a lack of historical context and understanding. To compare incomes in states like Wash/Cal, which still benefit from having attracted waves of scientific and engineering talent decades ago, to a historically rural/agricultural state like Tex, which has been attracting this same talent only much more recently, without providing that context, is deliberately misleading. Boeing isn’t in Wash anymore, but the state certainly still benefits (at least for now) from the smart offspring of the thousands of aerospace engineers that worked for Boeing in Seattle for the ~80-90 years that it was there.
Boomer – For that Hyundai it looks cheap but there is reason. Salvage title so battery and warranty is void and it may not charge or be allowed to quick charge.
EVs to fix and get running again for a reasonable cost? Look at all the super cheap late model Teslas on CoPart with salvage titles. Those cars all run but reality is to charge it on the highway at their superchargers and even third party chargers all repairs need to be done at Tesla and the car needs to be recertified by Tesla or they will not let you charge due to liability. It will cost a fortune besides body work once they think there is any minor issue with the battery pack etc it all has to be replaced.
There are a bunch of youtube channels on it.
.https://insideevs.com/news/410573/rich-rebuilds-buying-salvage-tesla/
Old realtor says:
January 5, 2023 at 9:42 am
“Curious about the Republicans or those who identify as conservative here and where they line up regarding the election of speaker…”
Continue negotiating for now. My understanding is that the anti-McC group has concerns that are both procedural (too much control wielded by committee chairs, not easy to remove ineffective leadership, omnibus bills etc) and personal (McC too willing to compromise on spending/spend too much), so I don’t have a problem with them pushing certain commitments, changes, etc.
Left,
On Amazon.
Keep in mind, inflation, primarily fuel costs, is the current cause of the poor performance of their retail shopping/shipping business. AWS is still growing, albeit much more slowly and this is due to the recession which is already in place. You didn’t hear it from me, but my company, which is firing on all cylinders, has requested we hold off on any major new purchases or upgrades for the time being. The last time the same request was made of us was back in 2008. I’ve heard similar things from a few of my friends too. AWS recent monster growth was result of WFH. How do I know? Because we moved whatever systems weren’t in the cloud to one all throughout 2020. This made remote access much quicker for all and also, more secure, more reliable and less prone to being a single point of potential failure. Getting back to AMZN. Some basic back of the envelope stuff on valuations. Before AWS was much of an income generator, the P/E averaged around 75. Not surprisingly, the EFFR averaged about 3.5% as it was raised slowly but consistently from 1% in 2004 to over 5% in 2007. AWS started in 2006. So Amazon, before their astronomical retail growth from 2007 to 2021 with an EFFR similar to today has a valuation similar today. Are you willing to ignore their growth from 2009 to 2021 versus the natural P/E progression maturing companies experience? I mean, their revenue only grew from 20 billion to 500 billion. And their EPS from $.10 to $1.10 pre-pandemic. Without P/E compression, their multiple should have gone from 75 to 750 based on EPS increase alone. Looking at short-term revenue and EPS, I understand your shorting theory as it looks like a company turning over. But AWS was only a major driver of EPS in the last 3-5 years. Their retail business is still growing and when the international recession ends, the monster growth of that business will continue. That recession could very well end with a Ukraine Russia peace agreement. When the Central Banks are doing the right thing, be very careful of how quickly the turnaround might be.
So quite frankly, shorting one of the best businesses over the last 30 years when it is not even clear that it is terribly overvalued looking forward and only overvalued primarily due to inflation (which is getting under control and the FED is making sure of it to the extreme) is a recipe for disaster. I would think you could find better candidates or just take a chill from trading and get ready to pull the trigger on the greatest market opportunity ever which should occur some time later this year.
Analysts at the Fed are saying the severe downturn in the economy comes in late 2024, based on new information/ analysis they reviewed in Nov/Dev that they did not previously have. Also note though that 2023 will see the start of the downturn/slowdown. And no cuts in rates this year.
Old Realtor,
I’ll echo what SmallGov said above. Refreshing, isn’t it? Let them go to the mattresses, duke it out. Maybe we’ll even see some real punches being thrown!
SGC,
Stop looking at everything through a red vs. blue lens. It will do you good. So much of what you hawk is unproven talking points and bullshit narratives. I would argue that political leadership has little to nothing to do with economic return. Take Trump’s Tax plan for example. He taxed somewhat less, spent somewhatless, but the revenue the lower corporate taxes were supposed to generate never came to fruition (even as Trump twisted Powell’s arms to lower the FFR), so the deficit (and total debt) grew none the less. And when it comes to spending, stop acting like Republicans don’t spend. Biden is the first Dem president in the past thirty years to outspend his republican predecessor and the red presidents have frequently left the Dem president with a complete shit-show to clean up, precipitating the need for more spending.
There’s little doubt Biden (and Trump) have been the worst president’s since Nixon/Carter. But at the end of the day, they are exactly the same. They are in it to enrich themselves and they only use social issues to maintain their bases. At the end of the day, the Trumps and Clintons used to sit at the same table at each others family affairs.
Again, the economy can rarely be traced to actions performed by a governor. What is your excuse for the terrible performance of 8 years of Chris Christie here in NJ for example?
Juice – No coverage on physical hardware is a given with these titles. But you are right, I and was just about to write in my post, that there are additional implications with the lack of warranty as relates to continued software updates and interaction with online platforms that occurs with L3 charges.
“Boomer – For that Hyundai it looks cheap but there is reason. Salvage title so battery and warranty is void and it may not charge or be allowed to quick charge.”
The speaker of the house thing is a nothing burger. Though, it MIGHT presuppose the prediction I made for the 2024 general election. MAGA won’t give in to the non MAGA and Trump will run independently. Then the invisible Veep and the aged President will stroll right into their 2nd undeserved term. Ain’t no way MAGA will vote for a non MAGA candidate and if it’s DeSantis, Trump will make sure his idiot henchmen will not vote for him. That’s a guarantee.
Biden in KY yesterday to fix a crumbling bridge between OH & KY.
Bi-partisanship appearances ensued. KY has “blue” lol states to “thank”.
Trump “talked about infrastructure” but nothing ever happened. Biden gets things done.
Any questions?!??
As for the affordability of cars. You can purchase a brandy new civic 37/30 MPG for 5K down, $400 a month 60-month term all in (fees in the loan). The problem is, people are too good for a Honda Civic. Even though, you will likely be able to drive that car from years 6 through 20 for the cost of insurance.
Yes Ex, but could you only imagine how much more the Dems could get done if the contracts didn’t always go to their campaign financiers?
“Curious about the Republicans or those who identify as conservative here and where they line up regarding the election of speaker. Do you say, get on with it and govern? Or do you say, keep up the fight and burn it all down?”
Why are those the only two choices? How come when the lesser used pathways of power that are anticipated in our governing documents are used we are always ‘putting democracy at risk’ or ‘burning it all down’?
I’ve been vocal and factual here on Party control…especially the unique power exercised by the DNC (eg, super delegates). People are correct, this would never happen in the Democrat Party…when rubber meets the road any individual Dem better sit down and STFU, or be frozen out. You think it was coincidence that not a peep was heard from any of the four Squad members during the whole midterm election cycle? Want to play a game of ‘what conversations were had’?
This hung speakership will of course be resolved but the process is healthy and anyone anti-established Party (Repub OR Dem) should applaud this…literally everyone on here (many of you) who have typed ‘both Parties suck’ should be supporting this, not mocking it…
As pointed out above there are very practical and substantive issues at play (in addition to the normal petty personal issues always around politics)…the omnibus issue is huge….if accepted, no more omnibus bills, ie. those massive comprehensive packages negotiated by four to six people in both chambers and given to the other 429 members of Congress hours before a vote, along with how they will be voting delivered to them by leadership as well….under the negotiations each part of the budget would be up for debate separately….in other words, no more $1.7T pieces of shit with everything stuffed in just because a handful of items in the entire bill must be funded and the rest of the garbage is getting a free ride….$800m for defense, well, let’s debate that. Along with everything else. Will it be sloppy – because everyone has a voice? Of course, but isn’t that what you want? Isn’t THAT democracy?
Or would you prefer that none of this happened and instead McCarthy was as strong politically as Pelosi and could just get into leadership by acclamation, and that he is able to jam through the House anything he and a handful of other Repubs desire?
I certainly wouldn’t prefer that….how about you on the Left?
Lib – Your calculus means Trump walks? No indictment before the election?
Does the special prosecutor Jack Smith risk the rest of his career for this? He took the job knowing what is entailed. I am not so sure he will let Trump walk…
https://www.reuters.com/world/us/fearless-special-counsel-jack-smith-arrives-washington-lead-trump-probes-2023-01-04/
Gary,
Nike in Oregon? That deal with Kaepernick worked out nice for both sides.
Also both states have their issues with far right militias.
When it comes to cars….if you have the money, live a little. No reason to be a millionaire driving a Camry or Civic. That’s just stupid. Why be a millionaire? Go get a 70k job and call it a day…you don’t need the money.
If you are not using money to enhance your lifestyle, why are you wasting precious time making it? This always boggles my mind. You have some people worth millions, yet they still live like they only make 50k a year. It’s sad. What a waste of time and money.
Also, another topic revolved around primary funding…two PACs were fighting which is now apparently resolved…the unofficial official Super-PAC of the Repubs would put its finger on the scale supporting one R candidate in a primary over another R candidate in safe R districts…a conservative PAC (which I actually know well) called Club for Growth challenged that…one, on principle, two on the stupidity of pissing away R dollars on each of two R candidates either of whom would win the general…again, this was a case of the Party getting the person IT wanted elected…isn’t it good that in primaries now the citizenry will be freer (or at more unfettered) in selecting their representative?
Duplicitous is promoting the south while living in NJ
Great advice. Remember, if a company is moving from a high cost blue state to a low cost red state; it has nothing to do with politics and everything to do with the lower cost created by a less densely populated location. That’s it. They are just trying to take advantage of the cost. The sad part, by coming to the low cost location, they drive up the price on all the locals and force them out….ask austin or Atlanta.
“Stop looking at everything through a red vs. blue lens.”
or nashville….or denver or TB or miami….doesn’t matter, it is what it is.
Why do you think northern NJ became expensive? Politics? No, we are right across the river from the most powerful city in the world.
I don’t speak for the left. My view, you can’t change anything if you can’t govern. Pick a speaker and get on with business. McCarthy has agreed to an easy recall process. If you can’t negotiate a reasonable compromise, start the recall process. Just get on with it already.
I think Trump walks. He is the master of flaunting the law. Much like Menendez, one can be found immoral, but not charged for any illegal activity. Heck, that’s the SOP for nearly every politician today. Heck, look at Santos. It’s really up to US to protest when the politicians won’t police themselves. But we don’t, so we affirm their continued abhorrent behaviors. And it is getting worse by the day. I don’t kid when I say nearly ever elected (and many appointed) members of the Federal government belong in prison. If you or me did 1/100th of the malfeasant actions they perform, it’s where we would be. They get bridges, tunnels and transportation hubs named after them.
” You have some people worth millions, yet they still live like they only make 50k a year. It’s sad. What a waste of time and money.”
Have you ever stepped foot in a state run nursing home? You may want to reconsider the taste of Friskies as you drive your Audi through the Burger King drive through.
Sadly, I’ve seen lots of formerly wealthy people finish penniless and friendless.
Lib -Have you ever been on a jury in Essex county or Hudson County? Federal court system is different down in Washington DC, it’s first off small like it would be for a county, a left leaning county. The trick in Washington DC Federal court is they actually pull from the same people as that of the local court.
I would say if they want the indictment and on trial this year it can be done. The Federal Jury Pool in Washington DC is quite small and demographics of the city is left leaning. In 2020 they voted 92% for Biden in 317,323 votes vs 18,586 for Trump.
In other words If Trump might have jaywalked on Pennsylvania but there were no witnesses he still would be convicted. He does not need to actually shoot someone and have the smoking gun in his hand.
Lib: Some people feel the need to drive super expensive cars; it makes them feel good about themselves, others have a passion for cars and if they are wealthy can indulge in that passion.
Some wealthy people view cars just as a means of transportation and nothing more, and don’t feel the need to buy an expensive one just because they can. They spend their money in different ways , and take satisfaction in different areas. They are not into to status symbol consumption that so many Americans are, regardless of their socio economic background.
I have clients in Portland. The entire rural and conservative swath of Oregon is completely disgusted with governance. Similar to Northern CA beyond Bay Area.
There is a growing groundswell for secession in Oregon and joining Idaho. I have no idea about feasibility.
You hear similar things about Marcellus Shale area on the Southern Tier of NYS joining PA, but obviously for a different reason.
Fast Eddie says:
January 5, 2023 at 7:59 am
Washington State and Oregon seem to be living off the teet of California. Not that that haven of liberal duplicity is fairing all that well. Without Cali, the Northwest looks like Vermont, another asylum for progressive pietism.
“I don’t speak for the left. My view, you can’t change anything if you can’t govern.”
Ehhhh….if strategically ‘governing’ is set up to just mean more of the same (it has been for as long as many of us have been alive) then no matter how much you ‘govern’ you can’t really change anything except on the far margins…..change, most times, means you have to actually change how things are done. People and processes.
Unless we believe that the current participants have delivered for their citizenry so well..if so, I know more than a handful of GenZ’s who would take the other side of that argument with you.
Chgo: The secession thing won’t happen. Both state governments would have to agree to it, and then Congress would have to approve it. I don’t see that happening, specifically Congress approving it.
re: “Picking a speaker”
I think it’s great they are all actually there and voting and debating both on the floor and in the back coat rooms between votes. It is how it was intended. Today most of the back room talk is done via txt messaging perhaps even while a lobbyist is looking over their shoulder.
I have mentioned the omnibus in the past. I have watched this process for decades, it is not how it was intended, allot of pork spending, pet projects gets rammed through, mixing spending with non-spending etc.
We could use term limits in congress too and get money out of politics no more PACs etc.
Reality is we are not going to get any of it. The Bourgeoisie class will make sure of it.
Exactly Juice.
And 3b,
I’ll drive my two sub 30K cars into the ground. Then I will retire comfortably to Vegas and Costa Rica. The guy driving the Audi with the 1000K a month payment. He can have his shitty retirement in NJ. After all, someone’s gotta pay all of those pensioners incomes when the FED won’t any more.
No Sheba for you!
Lib – Funny you mention Honda Civic. My brother totaled his 2018 a few weeks ago, he rear ended a car stopped in the middle of the busy road. He won’t admit it but was probably looking at his phone. Insurance totaled it and paid off loan and cut him a check about what he put down.
He just drove off the Honda lot yesterday with a new Accord lol….says he got a deal payment is $400 a month. I have not asked if the payment was 5 or 6 or 7 years. I’ll get those details later. I am not sure of the dealers have dropped the premium they have added on new cars yet. I would think they have as interest rates are up and affordability down.
Nice car in NJ is just begging for punishment. Door dings, scratches, curbed, pot-holed, salted to death, carts sailing right into your doors, parallel parking bumper cars, theft, and don’t forget about getting carjacked in Short Hills. We have zero regard for other’s personal property in this state, and it shows.
My kids know damn well they are not permitted to open their doors in a parking lot. Yes, even my 10-year-old daughter won’t open her door in a parking spot.
At the same time, I see plenty of parents who let their kids ferociously throw the doors of their SUV’s open into other cars, in plain sight, and don’t so much as even reprimand their child for doing it (or even acknowledge the damage their child just did).
Same reason I won’t dare ride a motorcycle in this state. Hell no. Zero regard for anyone else, person, property, or otherwise.
Needed a good laugh.. Elon weighs in on Speaker of the House.
Elon Musk @elonmusk
Subtle, but I am beginning to suspect opinions differ on this matter …
If not McCarthy, then seriously who?
Chris Bakke @ChrisJBakke
Replying to @elonmusk
George Santos should be speaker.
He’s a billionaire physician who’s an ex-Navy Seal that graduated top of his class from Harvard and Oxford, has won 18 Olympic gold medals, and is a guy you can trust.
https://twitter.com/elonmusk/status/1610945173466546176
Grim,
Even my autistic son know to be careful when opening the car door. Then again, parking in the disabled spot reduces the ding factor greatly.
Grim: It’s what makes us so special. We are superior to those in fly over country, who still might have some manners left.
Lib: Of course people put the carts back in the cart holders that would be a big help in reducing dings, but we are too special for that, and anyhow that’s what those cart people get paid for, to put my cart back, and take my snot rags and empty coffer cups and other crap out of the cart and throw it away.
Dude, what is wrong with driving a nice car? It’s not about showing off….it’s about quality of life. You think I drive an M3 because I give a f/k what someone thinks about me? I drive it because I enjoy it…live a little. Not going to live forever.
3b says:
January 5, 2023 at 11:16 am
Lib: Some people feel the need to drive super expensive cars; it makes them feel good about themselves, others have a passion for cars and if they are wealthy can indulge in that passion.
And driving a nice car is not the reason they went broke….
Just admit it, you hate spending money. No big deal, but I just don’t get why you want so much more? You can easily survive on nothing…that’s who you are. You don’t enjoy spending money.
This is not an attack, it’s just trying to open your eyes to who you are.
Libturd says:
January 5, 2023 at 10:55 am
” You have some people worth millions, yet they still live like they only make 50k a year. It’s sad. What a waste of time and money.”
Have you ever stepped foot in a state run nursing home? You may want to reconsider the taste of Friskies as you drive your Audi through the Burger King drive through.
Sadly, I’ve seen lots of formerly wealthy people finish penniless and friendless.
Why does fly over country lose all their children to the coasts? Asking for a friend…
If it was the place to be, it wouldn’t be dirt cheap.
3b says:
January 5, 2023 at 12:18 pm
Grim: It’s what makes us so special. We are superior to those in fly over country, who still might have some manners left.
Ying and Yang….that’s the chitty part of having anything nice. You actually care about it. lol
Hurts so much when it gets damaged…
grim says:
January 5, 2023 at 12:11 pm
Nice car in NJ is just begging for punishment. Door dings, scratches, curbed, pot-holed, salted to death, carts sailing right into your doors, parallel parking bumper cars, theft, and don’t forget about getting carjacked in Short Hills. We have zero regard for other’s personal property in this state, and it shows.
A new year and some things never change.
Kia EV6 GT will blow the doors off a M3.
What even is a supercar anymore?
https://www.youtube.com/watch?v=nYcL-SYy_-E
11.4 second quarter mile and a 0-60 of 3.4, that firmly beats even the M3 Competition, at something like half the price. This is a Kia that’s faster than most every supercar any of us would have lusted over in the 70s, 80s, or 90s. A damn Kia that rivals the performance of the mighty $1,000,000 McLaren F1.
Bad form to wave flag from cheap vehicle. Need expensive truck
grim says:
January 5, 2023 at 12:11 pm
Nice car in NJ is just begging for punishment. Door dings, scratches, curbed, pot-holed, salted to death, carts sailing right into your doors, parallel parking bumper cars, theft, and don’t forget about getting carjacked in Short Hills. We have zero regard for other’s personal property in this state, and it shows.
My kids know damn well they are not permitted to open their doors in a parking lot. Yes, even my 10-year-old daughter won’t open her door in a parking spot.
At the same time, I see plenty of parents who let their kids ferociously throw the doors of their SUV’s open into other cars, in plain sight, and don’t so much as even reprimand their child for doing it (or even acknowledge the damage their child just did).
Same reason I won’t dare ride a motorcycle in this state. Hell no. Zero regard for anyone else, person, property, or otherwise.
I don’t drive a new car because I have kids. I always laugh at the five foot soccer mom driving around a bunch of kids in a $100,000 Navigator…It must cost a fortune to keep it clean.
I knew my kids would destroy the interior of my truck and have done a pretty good job of it. Broken buttons and air vents, mud, gunk and all kinds of drink boxes, plastic bottles and cans, chips and candy wrappers mashed into every nook and cranny. Legos jamming up the seat rails, crayons melted into the carpet you name it…
I kid you not I have permanent stains on black plastic trim door trim that I cannot remove even with a heat gun and scraper…some kind candy that hardened into a diamond/titanium molecule.. If I could find the formula of how it went from carbon, hydrogen and oxygen straight to covalently bonded carbon I would be rich!
Finally now that they are getting older I find less gunk stuck between the seats and carpets but it is still there….God forbid I thrown them and their cousins into the third row and go out for ice crèam and snacks or a day trip to the beach. Cleaning up after a trip will take a while if you wanted to get it right..No new vehicle for me until they are out of the house..
EVs are rewriting long standing rules. Upending entire old monied hierarchies. What even is a supercar anymore is right.
My $150 grocery getter is only 6sec and even that feels fun with enough torque. Oh, RIP front tires which lasted only 25K of spirited driving. Since there were absolutely no other car expenses in two years, I splurged for new front tires. Much torque requires ample tread at all times.
I bet pumps doesn’t use his blinkers.
Shoot me. I’m the moron who always brings the cart back to the corral. And I always use my blinkers. Even when eating an ice cream sundae while driving stick.
12:37 I’ve got a penchant for analog performance cars and I tend to avoid turbos.
Older machines with some suspension upgrades. Min. power is 300 Horses and you’ll easily find 400-plus HP machines available. BMWs, Porsches, etc are status cars, but also handle pretty darn well.
Most drivers won’t ever experience them at their real performance levels. Personally dislike the high end SUVs as they are bulky and you lose so much of what makes the coupes so amazing.
On a separate note, I’ve some very very close to losing my drivers lisc. in every state I have lived in. Let’s just say that I drive “fast”. Sadly, there is a huge risk to having so much power on tap. I bought my twenty year-old Bimmer for $9k and put another 10 into it just to make it drivable. Now that it’s completely dialed in, it’s sublime.
Today was a perfect day for the amazing capabilities of the Subaru! The (2018) Outback was purchased as a dog carrier and commuter. Their AWD is second to none and I love the overengineering that went into the engine. (flat 6). Pushes 250 HP which is more than a Corvette had in the mid-eighties when I first came of driving age.
VTOL – not to fly over the city but into a landing area by the river and then walk, cab or subway to office. Keep a couple of flight patters to control air congestion and max out safety. Stage the landing area like a roller coaster – passenger exit, move vehicle to loading area to board next group and off they go.
If you want a good deal on a car, by an off lease CPO Honda. The CPO premium gives you piece of mind because its insurance an Honda will usually be the financial winner on that. If the car is properly maintained, oil changes, rear differential fluid on SUV it should be fine and all that info is available. I look for something lower than 28K. Used car prices are dropping quickly now and Honda gives dealers a few bucks when they sell the CPOs to try to keep residuals stable.
Honda just came out with new model Pilot, CRV and Accord is due out any time so maybe deals on outgoing models.
Why would anyone own an M3 in NJ? The only place to drive one is on the track as street use is a waste as NJ road conditions mean blown tires and bent rims unless one is a slow driver. The only reason people drive those is for status because most can’t drive the machines to their capabilities on street, track or otherwise.
My brother has fancy cars. He let’s me drive them on occasion and sure, they are fun. But I’d rather take an extra family vacation every year than be able to handle the off-ramp at 10mph quicker.
One year, I splurged when I found some Michelin PSports on clearance at Tire Rack. Since I use snow tires it was awesome to have a set of true Summer performance tires. These things gripped like there was glue on the tires. I think they lasted 20K miles. What a waste.
At the end of the day, it might be fast, but it’s still a kia. It will never drive like a supercar.
grim says:
January 5, 2023 at 12:37 pm
Kia EV6 GT will blow the doors off a M3.
I so want a new car as I am relatively bored of ours, but they keep on kicking with no major maintenance still. The CX-9 is at 129K and my 6 is now at 134K. Just had to replace the battery for the second time on the latter. I imagine my mufflers and pipes will need replacing soon.
Porsche and M3’s are the absolute peak of daily drivers. You just don’t get it, and that’s okay. With a push of a button, it goes from tame to a f/ing beast. Man, it’s get my adrenaline going. Btw, f80 and g80 m3’s are absolutely bullet proof( bmw is now right behind toyota and lexus on most reliable list). If you maintain it, nothing to worry about. G80 is more driver friendly, but faster. F80 is simply a f/ing beast. It’s an animal. The DCT trans is pure perfection. You better know how to drive when you pin it, or you will end up sideways into a curb.
“Why would anyone own an M3 in NJ? The only place to drive one is on the track as street use is a waste as NJ road conditions mean blown tires and bent rims unless one is a slow driver. The only reason people drive those is for status because most can’t drive the machines to their capabilities on street, track or otherwise.”
I hope you have a long driveway.
I love motorcycles, but I could not justify the risk especially having a kid that needs me. But man a nice bike is amaaaazing. It’s a solo activity though and I like having at least one extra seat for a passenger. I am pretty sure that “if” we can both stay employed and make decent cash, I may talk the wife into getting a used Carrera. Yeah. Ragtop or Targa please.
Grim,
You see this?
https://fortune.com/2023/01/05/housing-market-something-big-is-happening-home-prices-2023-2024-forecast-prediction/
Lib – Comical differences in predictions in that Forbes article.
The listing advertiser for the real estate industry realtor.com owned by News Corp is the biggest bull and says prices will go up 5.4% when perhaps in many areas the prices have already dipped!! Don’t look at the data buy now or be priced out forever!!
NAR the commune of realtors that desperately do not want to go back to hair dressing is basically says housing what housing? Don’t look here we don’t want to get laid off keep it the same at least…. 1.2% increase.
Biggest bear on that list is a housing data consulting firm full of bean counters and their fancy spreadsheets says 22% down, basically because what institutional investments that buy every used crap shack for sale have dried up.
Fun Times ahead… I will stick with my Case Shiller 230…as markets always over correct.
It moves slowly. Even during the subprime debacle, it took a while to get going. Humans have terribly short memories.
I got all the going fast stuff out of me by age 25. And yes, I preferred to do it on the race track on the days they let street cars go for quarter mile runs. At the peak, my friend go the turbocharger on my mustang and cranked it up to 675 hp. This was a guy who held the record for quarter mile on street tires for years. We also switch the rear axle gear ratio. TBH, it was too much, but it was fun the few occasions some dork in a Porsche would try to come up and pass you and you just blow them away. All that money, and I was still faster. I drive moderate speeds everywhere now. No point in going fast.
I know two people who are sorry they did not sell a year ago, they wanted just one more year of lofty price gains. Did not happen, now it’s I am not giving it away. For one they are going to have to, carrying two mortgages. People get greedy, and it’s always different this time.
2:16 all that money and the Porka will leave the Mustang in the corners.
Stangs are straight line cars. If you had Mulholland Hwy you’d reconsider.
Wonderful feeling hugging those curves and blasting along scenic passes.
3b,
If they live in the NYC metro area….what are they worried about? This location is like cali coast…it’s only going to go up in value over time. If you are on the coasts, you have the safest real estate in the world.
Ex,
Gets it.
FYI, I don’t cut people off and drive like an ahole. I am a respectable human being and not trying to get anyone killed. When the road opens up, and it’s safe to get an adrenaline rush, I make my moves.
Putin just called for a cease fire, three days for the Russian Orthodox Christmas.
Zelensky said up yours..
I don’t see how the consumer goes back to 2019/2020 pricing and is able to service that debt @ 6-7%.
Things we’re OK financially at the household level back in 2019 @ 3%, add in inflation and there’s just no way that becomes the new market clearing price.
I’m a member of my local FL Republican club but do not identify as “conservative” – I’ll stay in the liberty wing of that party as long as it exists. WS Journal editorial board and the old Steve Forbes is a proxy for the Republicans I like. (Not isolationist, not anti-immigrant, pro-free trade with non-tyrannical countries, pro-capitalism).
I don’t know what the McCarthy squabble is all about, is it about some principles or is it about some folks getting denied power positions? I suspect the latter. I assume they will get things settled before long.
As for Texas turning Democrat, I don’t know the demographics, but maybe. I’m guessing they would already be a blue state if illegals could vote. Throw in all those Californians moving there and blowing Betto. Maybe he will win an election some day.
In FL, there was a fear that immigrants would shift FL more blue but it seems like people like how DeSantis is running the state, besides Libturds’ parents Condo association, and some people actively moved to FL seeking that attitude instead of their blue states. Maybe the non-federal-deductibility of state income taxes is also reinforcing the political convictions of recent FL newcomers. In local government, most people seem to like the law & order, competent-ish approach to government that the R’s seem to be emphasizing. Plus blue-collar businesses are super-busy in FL – the construction & repair trades especially, and they seem to give DeSantis credit for that. Waitresses are still thankful that they weren’t put out of work for a year like much of the country.
But if DeSantis shifts to a culture war focus while the economy went downhill, I think he’d lose more of the apolitical vote. I don’t think FL or any state is permanently a red state. Nearly all schools are trying to teach the opposite.
Boomer: I agree, but some people get insane about house price declines, it’s like it’s personal to them.
https://www.nj.com/politics/2023/01/nj-takes-major-step-to-speed-up-construction-projects-under-law-murphy-just-signed.html
From Black Knight’s October Mortgage Data:
“Of all homes purchased with a mortgage in 2022, 8% are now at least marginally underwater and nearly 40% have less than 10% equity stakes in their home, a situation most concentrated among FHA/VA loans
Overall, at just 0.84%, negative equity rates among all mortgaged properties remain extremely low by historical standards
More than 25% of 2022 FHA/VA purchase mortgage holders have now dipped into negative equity, with 80% having less than 10% equity
Early-payment defaults – loans delinquent within six months of origination – have been rising among FHA borrowers over the past year and now sit above pre-pandemic levels”
https://www.blackknightinc.com/black-knights-october-2022-mortgage-monitor/?
From November:
“Prepayment activity in November dropped 15.6% to a single month mortality (SMM) rate of 0.40% – once again marking the lowest rate on record since before 2000 when Black Knight started reporting the metric
The national delinquency rate rose another 3.5% in November to 3.01%, up 10 basis points since October, driven by a 31K (+3.9%) increase in 30-day delinquencies and a 25K (+11%) rise in 60-day delinquencies
The delinquency rate in Florida rose another 18 basis points in the month to 3.60% as the impact of Hurricane Ian on homeowners’ ability to make mortgage payments continues
Improvement among seriously past-due loans continues to stagnate, with the population of 90-day delinquencies ticking down -0.2% from the month prior”
https://www.blackknightinc.com/black-knights-first-look-at-november-2022-mortgage-data/?
Just 20% and then the pivot these krakheads are wanting? Unlikely.
The MTA is permanently reducing transit service on Mondays and Fridays, as these are the least popular days for people coming into the office. Makes sense as WFH/ hybrid is now a permanent part of the corporate work world.
Who cares about a drop in housing prices if you are using it to live in? Are you going to sell? No, so who gives a f/k.
If you are a flipper, that’s another story.
Trend I find hilarious.
Asshats thinking they can tell people where they can live
based on “political beliefs”. Tell me how stupid you really are.
I don’t see how the consumer goes back to 2019/2020 pricing and is able to service that debt @ 6-7%.
We didn’t think people would pay over $1,000 per month for a car either. I don’t doubt anything anymore. If Muffin Muppet wants that Upper Montclair address, she’s going to get it.
“Broken buttons and air vents, mud, gunk and all kinds of drink boxes, plastic bottles and cans, chips and candy wrappers mashed into every nook and cranny. Legos jamming up the seat rails, crayons melted into the carpet you name it…”
Except for the crayons and legos, that sounds a lot like my car.
And I don’t have any kids!
Ev6 and all EV weight to much to be considered sports cars at this point, 0-60 is great but get it in the twisty’s and hold on for dear life.
Back looking at cars, wife has a 14 Hyundai with less than 100k, engine has a lifetime warranty for the original owner because of the class action lawsuits. Its burning over a quart of oil ever 1k miles just waiting for it to go. Younger son is getting his permit this month so figure to give him the car and get a low mile CPO suv for the wife next year. Most important thing to me is safety, bought the older son a used subby a couple over years ago for that fact. One day driving to school last year with his younger brother he made a left into an oncoming car. Other was totaled, his had a dented and scathed bumper, broken head light housing and the hood need to be realigned. You can now buy prepainted parts online at reasonable prices.
This is a family chat room.
Libturd says:
January 5, 2023 at 1:15 pm
I hope you have a long driveway.
Reminds me of possibly the only cogent thing a realtor ever said to me.
We were looking in haughty Montclair. Realtor said: Get ready for a bidding war!
At which point I said. Naw, we aren’t doing that. We ended in up buying in West O.
Realtor said at the time. The market is heated up here, but I remember selling homes where the seller writes a check at the closing. (under water sellers).
I never forgot that. A cautionary tale!
And adaptive cruise is a great option and would help reduce a lot of accidents which the subby has. Used it to go to work for a few weeks to save on gas while the kid was at school. Set it at 75 and sit back and relax in bumper to bumper traffic. All you do is steer, its keeps a predefined distance between you and the car in front(distance is adjustable). Hard to trust it in the beginning but once you get used to its great.
Love my 2017 Subaru Forrester. Great AWD, 8.5 inches ground clearance, and the damn thing still got 34 mpg on my last cross-country trip.
Fast: If you got the 1,000 a month car payment, Muffin Muppet may just not have the cash to do it, simple as that.
OC1, when I took it in for a recall the dealer gave me an Outback Wilderness with the turbo as a loner, have to admit it was sweet. Probably will be the wifes next car.
Eighth Round:
Rep. Hakeem Jeffries (D., N.Y.)– 212
Rep Kevin McCarthy (R., Calif.) – 201
Rep. Byron Donalds (R., Fla.) – 17
Kevin Hern (R., Okla.)
Former President Donald Trump – 1
Present – 1
At least the Republicans understand compromise. I’m surprised all 220 of them didn’t vote for themselves.
Whatever one’s political views are , this whole speaker issue is sad. It’s no way to run a government.
I barely recognize FL anymore. I think they’ve priced themselves out of being a retirement location.
Expensive high end place vs the quaintness it had in the early 90’s.
It’s still humid, filled with poorly educated locals, and the elderly.
Clearwater is ruined by the Scientology presence.
Libturd says:
January 5, 2023 at 10:19 am
“What is your excuse for the terrible performance of 8 years of Chris Christie…”
Dem legislature!
Just for context, Christie, fighting against the tax-and-spend Dem-controlled legislature for 8 years, increased NJ’s budget from ~30B to ~35B over his eight years in office. Meanwhile, Phil has taken spending from 35 to over 50B in 5-6 years!!! I won’t even get into the difference in NYC between Rudy/Bloomie and BigBird Deblasio. But yeah, and despite your shilling for the Dems, governance does matter.
“Analysts at the Fed are saying the severe downturn in the economy comes in late 2024, based on new information/ analysis they reviewed in Nov/Dev that they did not previously have.”
Same group of analysts there that 15 months ago said one rate hike in 2022 of 25bps?
Just checkin’….
I trust what the FED says almost as much as I trusted Barney Frank.
Left: The same I assume. Just noting the latest chatter out there.
“Same group of analysts there that 15 months ago said one rate hike in 2022 of 25bps?”
Making predictions is hard- especially about the future.
Oc1: True, but there were many here who said the Fed was wrong and that inflation was not transitory. We were right, how did the Fed get it so wrong?
“Making predictions is hard- especially about the future.”
Especially hard to be off by a factor of 10x+….now that’s a feat!
They aren’t permabears like some here. They know how difficult it is to have high inflation with a low growth rate. Perfect storm came.
3b says:
January 5, 2023 at 5:00 pm
Oc1: True, but there were many here who said the Fed was wrong and that inflation was not transitory. We were right, how did the Fed get it so wrong?
Lib
Your cars are barely broken in. Our pathfinder has 178k and the Santa Fe has 164k.
Ex,
You nailed it. Florida and retirement no longer should be used in the same sentence….at least on the coasts.
Sweet suffering Jesus.
HMB, give me another year. Truth is, hoping they hold up for the next 18 months and we’ll buy new vehicles (or used) when we are in Vegas.
Brevity below, don’t take for dismissiveness/being argumentative…value your opinion, why I’m extending this conversation…Read through to the end plse….
“Keep in mind, inflation, primarily fuel costs, is the current cause of the poor performance of their retail shopping/shipping business.”
So give a proforma run rate number and a multiple to apply to it so we can back into the AWS valuation multiple.
“Before AWS was much of an income generator, the P/E averaged around 75.”
As growth and earnings normalize so does multiple. Market leaders will never see a 75x multiple again, any industry, unless earnings absolutely shit the bed.
“Not surprisingly, the EFFR averaged about 3.5% as it was raised slowly but consistently from 1% in 2004 to over 5% in 2007.”
What is EFFR and I have no interest in trading multiples from over a decade ago…
“Without P/E compression, their multiple should have gone from 75 to 750 based on EPS increase alone.” ? (!)
“So quite frankly, shorting one of the best businesses over the last 30 years when it is not even clear that it is terribly overvalued looking forward…”
Again rear view mirror irrelevant for me especially for a company with a high growth business normalizing from marginally profitable to highly profitable, and my working point is that AMZN is terribly overvalued on a forward basis…
Here’s why it even popped up on my radar…I’ve been watching MSFT. For a while and would already be in it but for valuation. Think I actually posted here over a year ago I wanted to own it but only would look at it around 200. On the back of yesterday’s UBS report it’s getting there. I’ve also had some success recently with pairs trades. So I’m thinking if I go long MSFT effectively around 200 what do I put on short to pair with it? AMZN pops because on a side by side….
Relative valuations, unadjusted. MSFT is about 25% overvalued, AMZN much more so.
Both have the upside exposure to cloud. MSFT has a greater percentage of profit from the cloud than AMZN (ie, more of its business is coming from high growth, high margin business than AMZN). Favor, MSFT. On the remaining businesses other than cloud do I prefer the MS suite of consumer and commercial products with their better margins and growth or the retail ecommerce business of AMZN?
In the absolute, before valuation considerations, MSFT hands down….so, if that’s the case, how is it not a no-brainer to long MSFT and pair it with a short AMZN especially given the relative valuations?
Only issue – no answer so far – is if AWS is moon shotting at the expense of Azure, in which case yeah you’re screwed…
Just can’t see paying 2x the multiple for AMZN relative to MSFT when MSFT has a greater percentage of cloud operating income of total and its ‘remaining’ businesses are better than the retail Prime business…..
Poke away….
“Sweet suffering Jesus.”
LOL, how many days? We’re up there….
“Equities were way more overvalued in the dot com bubble. This was an everything bubble you can say, with vehicle market, real estate, equities etc, but in terms of just equities, dot com was worse”
“Growth Equities were valued much higher in the dot com bubble. Look at PE ratios of most companies during that time and the Nasdaq as a whole. Nasdaq was over 150 PE ratio as an index. We were no where near that. Blackberry was trading at 1700 times earnings”
Only a matter of time that they have to lower rates…they will have no choice. They swung it too hard on the upside with rates.
“There is no way the largest asset bubble in US history built on 0% interest rates and $120B/month of QE can not implode when confronted with 5% interest rates and $90B/month of QT.
It’s really that simple.”
With an economy that implodes, you watch how fast they change their position.
Just look at China…stimulus city.
Left: 9 Months!
“Curiously, lots of jobs creation is being measured while the count of people who are employed remains constant since March. Such a wide degree of divergence in the 2 BLS surveys has never been observed. Something is terribly wrong here. Benchmark Revisions may help explain.”
I refuse to go to most shop rites because the carts are all over the parking lot.
I always park pretty far away but still get dings no matter what. I have been hit on both sides of my car by morons just merging into me not paying attention (thank you insurance for 2x new paint jobs)
3b,
Remember when I said remote work was bs….these are most of your remote workers doing chit. I never want to hear people complain about teachers again.
“MORGAN STANLEY: We see $AMZN’s layoffs “leading to ~$3.6bn in annual savings.” We have long written about the “excess headcount” in tech .. “consider how TWTR…at an extreme…has gone from 7.5k employees .. to a reported 2.3k .. without any major change in the consumer product.””
Tech was responsible for most of the remote workers…and most of them were doing chit. Then they wonder why productivity hit all time lows.
McCarthy fails 10 and 11th vote..going for 12th. Can we just disband R party as it stands? They offer absolutely zero leadership to this country. They did not get message from Nov a$$ whooping apparently.
“Oc1: True, but there were many here who said the Fed was wrong and that inflation was not transitory. We were right, how did the Fed get it so wrong?”
No idea! Just saw the opportunity to throw out a quote from that great philosopher Yogi Berra.
11?!??
Saw an interesting clip about the dems potentially being able to take the seat if they call for a plurality vote.
That’s playing chicken, if those 2o don’t change their mind, the Rs lose.
Real estate article in the WSJ there is a record amount of sub lease office on the market; the highest on record. Interesting read.
“McCarthy fails 10 and 11th vote..going for 12th. Can we just disband R party as it stands? They offer absolutely zero leadership to this country.”
Uhm, this is what leadership looks like…open debate of ideas. You’re too used to the 200+ Dems bootlicking Pelosi…not leadership. Cuckolding. Cowering.
“They did not get message from Nov a$$ whooping apparently.”
Hmmm…so the ass-whooping is why Pelosi is a back bencher now and the Rs are the ones determining who bangs the gavel? Confusing, professor….
Running out of sand, you ask, how can that be? After all, 33 percent of Earth is covered in desert, and many of these deserts have copious amounts of sand (not all of them, though). Yes, that’s true, but desert sand, like sea sand, lacks the compressive strength needed to construct houses, skyscrapers, roads, and bridges. In other words, when it comes to the world of construction, both desert sand and sea sand are utterly useless. This is why there is a race to secure the limited amounts of appropriate sand available.
Scarcity breeds desperation and this desperation is particularly palpable in China. The Chinese Communist Party (CCP) has deployed “pirates” to raid neighboring countries. In truth, the “pirates” have been plundering and pillaging for years. In recent times, however, they have zeroed in on Taiwan, stripping the island of its valuable deposits.
The world is experiencing a shortage of just about everything: corn, coffee, wheat, soybeans, plastic cardboard, semiconductor chips, suitably qualified workers, etc.
Now, it’s time to add sand, the most-extracted solid material in existence, to this ever-growing, highly-eclectic list. The importance of sand cannot be emphasized enough. Water is the world’s most-consumed natural resource; sand is the second most. Every construction project relies on using sand—the correct type of sand. By 2030, the construction market is expected to be worth $14.4 trillion; two years ago, it was worth $6.4 trillion. We’ll need more sand, but there might not be enough of it to go around.
Demand for sand is soaring, and this demand will likely increase dramatically over the next three to four decades. This brings us to China, a country with a voracious appetite for construction-friendly sand. In many ways, the appetite should come as little surprise; when it comes to constructing roads, bridges, and buildings, China leads the way. In an effort to satisfy its appetite, the CCP is targeting its neighbor, Taiwan.
Check out that graph…
“At Harvard, pretty much everyone gets an A now.
It’s turning into a joke.”
https://twitter.com/brad_polumbo/status/1608849332668862464?s=46&t=pN4q1i-Rbq8wkbfXeaC9AQ
Left,
You are undervaluing their huge retail business and future growth opportunities outside of the US. MSFT is decades more mature than Amazon. Amazon is still a baby IMO. MSFT Suite has little room for growth.
Be careful. MAGA’s just might burn it all down.
lol, Cathie Wood sold 400k shares of Silvergate today. Buy high, sell low, it’s the ARK style. I wonder if I bought her shares while covering.
Why do we care so much and why are we so eager to elect a person immediately. These bastards go on long vacations where they do nothing. What difference does it make? Besides, congress has solved zero problems the past 15 years.
Brt…
“Wow. $FATE is down 51% in after-hours after the termination of its collaboration agreement with Janssen.
Cathie Wood has sold almost her entire position in the past month.
Great timing?”
CNBC) – Microsoft CEO Satya Nadella said the world — specially the tech sector — should brace itself for two more years of struggle before it can see growth again.
$MSFT
You don’t get credit for selling before non-public information. The best you can say about that is, she was tipped off. But it doesn’t matter, her average cost was $78 on FATE, dumped it at $12. You bragging about that?
Ex,
Mullholland Highway is that curvy mountain road, right? BMW let me and a few other analysts, and the motor press drive the i8 out of Beverly hills and then across and then down that highway back around 2013/14 when it first came into production.
I thought it was a fun car to drive and people were really looking at the car when it came out. Didn’t see any cops on that highway thankfully, because we might have gotten a wee bit over the speed limit twisting through those mountain curves. When our time was up we came down to the coast, drove back on the PCH and parked them all at some sushi place on the beach near Santa Monica.
Beautiful and fun place to drive such a car. But an i8 (or any exotic or semi-exotic sports car) in NJ for a commute is just a waste. Potholes, speed limits, repair bills. Hard to get golf clubs in and out. Hard to get yourself in and out of it. Sitting so low, hard to see what’s in front of the SUV ahead of you.
NoOne, yes sir. There’s a whole scene around that place. The Rock Store is the nexus.
Piuma Rd us not to be missed. There are dozens of others that wind through the area are a wonderland. Elevation varies, but the scenery is stunning and the roads well maintained. It took me years to learn them though and feel I could unwind the car a bit.
On most weekends you’ll see folks out in their vintage and current rides. All sorts of vehicles and bikes. It exemplifies what I see as the best of car culture. Pure appreciation for literally most things with wheels. It’s hard not to be awestruck though at the site of a vintage Ferrari GTO or some of the other vehicles.
I’ve personally never driven an electric car or bike. I hear good things in terms of power delivery. Did get a chance to drive the whole BMW line once a couple of years ago at their track in Thermal. I loved the M8 the most.
It’s so insanely beautiful here. Though today was a monster rain day.
Check this out:
https://www.conejovalleyguide.com/welcome/piuma-road-overlook-views-in-the-santa-monica-mountains-in-m.html
Uhm, this is what leadership looks like…
Uhm No it doesn’t. Pelosi faced this in 2017 with my local Rep Josh Gottheimer and dealt with it before the first and only vote was cast. This is a dumpster fire for the GOP.
What you have here is a lame duck leader with no way forward. He is not getting the votes. We head into Jan 6th tomorrow. Is this were we see the true goals, GOP delivering a Shock out of left field, or Kev making a deal with the Dems to try and wrest back some control.
the ass-whooping is why Pelosi is a back bencher
She handed over to the new generation of D’s. You and others called for it, now that it happened, the true stripes come out and you just cant embrace it. .
Again, Dems set for the next generation, GOP in the doldrums.
“or any exotic or semi-exotic sports car) in NJ for a commute is just a waste.”
I have a family member dumped their M6 as it spent so much time in the dealer waiting for back ordered tires. They popped a tire on a pothole on a pretty regular basis.
MAGA’s just might burn it all down.
That’s what some people are missing. The goal of some of these people is to see Gvmt fail. Remember Rick Perry, remove the Department of Education, Department of Energy and that other one I cant remember. They want it all to fail.
Call the Cart Narc. California. BMW. Entitled.
https://youtu.be/SoVqd_EmOIg?t=19
Mike S says:
January 5, 2023 at 7:00 pm
I refuse to go to most shop rites because the carts are all over the place. I always park pretty far away but still get dings no matter what. I have been hit on both sides of my car by morons just merging into me not paying attention (thank you insurance for 2x new paint jobs)
Mullholland Highway is that curvy mountain road.
The movie Chinatown was inspired by the real Mulholland, at least some say.
All over the aqueducts in California.
Several of you have said the speaker situation is a healthy process. To me it feels like someone beating their head against the wall. Like the old saying, insanity is doing the same thing over and over again expecting a different result. This isn’t how intelligent people behave.
It is simply the lack of people to compromise. It has gotten way worse since MAGA. There is no arguing this. It’s kind of like seeing January 6th as a good thing. It was not.
Cmon left. If this were on D side, you would be laughing at the farce not applauding it as leadership, which it is not. The a@@ whooping is exactly why Kevin “Lucci” McCarthy is in this mess. He is now a cuck to a few red hat extremists who will burn his speakership down if he does not abide to their crazy demands. There is nothing positive from this.