Hat Tip ChiFi! (No, not this post, but the last two).
From CNN:
US home prices fall by most in 11 years but sales are down
US home sales fell in April for the second month in a row and home prices had the biggest drop since 2012, according to a National Association of Realtors report released Thursday.
Sales had shown some life, rising in February after a full year of declines due to surging mortgage rates, but that momentum has since cooled.
In April, sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — dropped 3.4% from March. Annually, sales were down 23% from a year ago and the seasonally adjusted annualized sales pace dropped from 5.57 million units a year ago to 4.28 million in April.
April’s falling sales showed that February’s reversal — which ended the longest streak of month-to-month declining home sales on record, going back to 1999 for all homes — did not take off. Mortgage rates were rising in February and pushing toward 7% in March when many of these April closings went into contract.
“Home sales are bouncing back and forth but remain above recent cyclical lows,” said Lawrence Yun, NAR’s chief economist. “The combination of job gains, limited inventory and fluctuating mortgage rates over the last several months have created an environment of push-pull housing demand.”
This sales pace is higher than the end of last year, when sales hit a low for this cycle of 4 million units. But the current sales pace is down 33% from the cyclical peak of a 6.34 million unit pace in January 2022.
While all four major regions of the US registered both monthly and annual drops in sales, drops continue to be bigger in areas that are highest cost and saw the biggest run up in prices over the past few years.
Sales in the Northeast and the Midwest were both down 1.9% from March, while sales in the South decreased 3.4% and sales in the West were down 6.1% from the previous month. On an annual basis, sales in the West are down a whopping 31%.
First
CHATGPT is now connected to the internet in real time.
Here are some examples of what it can do.
https://twitter.com/itsPaulAi/status/1659186752303628290
Hat Tip. Yes!
Sorry, it’s been crazy lately.
BRT
re: Semiconductiors..
“As of today, Nvidia’s stock has ballooned 114% year-to-date to $316.78 on NASDAQ, keeping it the best-performing stock of 2023 on the S&P 500 index.”
Nvidia to rocket up…even more. Coin mining rigs built on Nvidia GPUs are cheap now and well out of fashion.
A new AI rig? Well a single server with just 8 Nvidia H100 Tensor Core GPUs can cost as much as $300,000 or more.
A single card? $38,000
https://serverevolution.com/nvidia-900-21010-0000-000.html
But no worries you can rent one all the cloud vendors are scaling up.
MSFT Azure cloud cost is $20,000 a month to keep one server warm.
Nvidia direct DGX cloud is double that. Oracle has one, Amazon has one in their EC2 cloud etc all for rent.
Corporate inroads folks. Companies are all looking to kick the tires on hot new AI.
This meme is perfect for DNA and AI.
https://twitter.com/jwilfrem/status/1659402589446832128?s=46&t=0eaRjeKWHSIY8WCyPT4KMg
It’s not just the GPU, it’s the ram, and it’s the sheer storage necessary for the training data. Amazon, Microsoft, and Google are drooling over the potential.
Perfect fit for cloud. When you look at ML pipelines, the fact is, model training is the most compute intensive part of the process. It’s infrequent, able to be scheduled, the kind of thing that perfectly aligns with cloud consumption.
I am talking about the stock price and the huge premium Nvidia has added to run anything Workstation, Server, Cluster or cloud on the new NVIDIA Hopper architecture. For the basic chip it’s $10,000 dollars NVIDIA A100 built on the 7 nanometer tech from TSMC. The even better chip the GH100 is TSMC 4 nanometer tech 80 billion transistors that can barely be found anywhere and if you do it’s around $33,000 for a single chip.
Grace Hopper BTW was a pioneer in computing.
Good luck finding these chips to run any kind of AI project. You may have to rent from Microsoft to keep a single server warm for $20,000 a month. Watch the data fees.. Lol!!
https://www.cnbc.com/2023/04/14/nvidias-h100-ai-chips-selling-for-more-than-40000-on-ebay.html
I mentioned private companies being gobbled up with the mad rush for AI and to be first and best in their vertical.
There is a deep pocketed financial institution trying to build the best black box ever built with AI.
Speed = money
Only the best will do. The CS-2 architecture linked below is the fastest in the world and beats NVIDA by 15x when training large data sets.
https://www.eetimes.com/cerebrass-open-source-gpt-models-trained-at-wafer-scale/
Just one example…
Look at Juice Box & his big ol’ braaaain!
Juice, that’s the problem. I love the semi industry, but as far as valuation goes, it’s off the charts high. I was in heavy running up to 2021. Actually shorted at the top. Dipped back in in January. But at the end of the day, you have real companies making real products that have real demand. I hate tech because of the “one day this will pay off” pipe dream that yields insane valuations followed by huge let downs in most cases. But as far as playing tech, semis has been an easy bet. You don’t pick sides in a war, just buy the companies that make the weapons. And they’ve outperformed the market by far anyway.
As the cops are beating up the innocent, bankers ripping everyone off, AI engineers out ruining our future, at least the people in my industry are up to something good trying to solve problems and make people enjoy life again.
https://bit.ly/45djzuy
that being said, the chart on NVidia is bullish and the momentum is insane.
Let’s go, DNA!! Biotech, not AI, will drive this next bull market.
“As the global economy emerges from the pandemic, the world of biotech is changing quickly. With new industry trends forming, new headwinds blustering, and new enabling technologies now in play, the rest of the decade is likely to be a time of great progress in biotech — and perhaps great disruption too.
Investors who stay abreast of the shifting dynamics will be the best-positioned to profit. Here are three of the most important trends that are reshaping the biotech landscape.”
https://www.fool.com/investing/2023/05/19/3-key-biotech-trends-for-2023-and-beyond/
BRT- NVIDIA’s run up was for the gaming and mining GPUs. I am not so certain they can keep the revenues growing but then again ServiceNow just signed a deal too using Nvidia DGX hardware infrastructure in the cloud.
Sure customer service tickets make sense automate resolution without live agents or live techs in IT or HR but there is a premium here a huge one. It’s Grim’s bailiwick, he has been busy building the Death Star but from some of his recent posts I sense the force may not be with him..Lol!…
Then there is the pump coming from Wall St now predicting 500% return on the stock in five years.
Buy the rumor sell the news…
Grim – re: “Model training is the most compute intensive part of the process. It’s infrequent”
Not if you are a high frequency trader. It all depends on use… For financial data? infrequent hardly.
Speed = money.
This is the Way….
grim,
Regarding the RAM, I’ve even heard Samsung Electronics described as an AI beneficiary, as the best/biggest memory maker. There’s also the wild card of whether their non memory foundry ever becomes more seriously competitive with TSMC or Intel.
80k missile to kill a sheep herder. A few more terrorists created from scratch.
Kill my innocent parents, I will make it my life’s work to find a way to get you back.
The U.S. military has walked back claims that it killed a top al-Qaeda boss in a drone strike in Syria, according to reports.
Speaking to The Post on condition of anonymity, two officials walked back on the claim that the strike killed a senior al-Qaeda leader.
‘We are no longer confident we killed a senior AQ official
School shooting in Paterson, did not make national news.
https://www.nj.com/passaic-county/2023/05/parking-dispute-at-nj-school-lead-to-shootout-with-security-officer-cops-say.html
Juice,
I’ve said this before but when these things happen in the suburbs it’s news, because it’s not supposed to. When it happens in the inner cities, it’s not news.
There was also the danger in that if crypto market crashes enough, those cards all get sold into the secondary market.
Renowned academic and political activist Noam Chomsky sought sex offender Jeffrey Epstein’s help with managing financial transactions totaling over a quarter million dollars, The Wall Street Journal reported on Wednesday.
In late April, the Journal revealed that Chomsky and Epstein met multiple times, even after Epstein pled guilty in 2008 to soliciting and procuring a minor for prostitution.
New reporting from the outlet highlighted that beyond a group dinner with Woody Allen, Epstein helped Chomsky move large sums of money, which the academic said was for a “technicality” related to distributing funds from a previous marriage.
Chomsky confirmed to the outlet that in March 2018, he received $270,000 from a bank account associated with Epstein, but said it was only to reorganize his own funds, and “did not involve one penny from Epstein.”
Ahh yes, I’m an MIT professor, but I need to seek advice on how to move $250k. Obviously, it’s best to consult someone who was busted for child trafficking in 2008 and have them do it for you. It’s not like I can’t transfer it from one account to another on my own.
Correction BRT – if it bleeds it leads..no injuries. Also, Fox News wants to target as ‘out of control’ liberal cities like NYC, LA and Chicago. The rest are not news-worthy.
BRT – Sounds like a hush money payment.
“When initially asked by the WSJ about his relationship with Epstein, Chomsky had told the Journal, “First response is that it is none of your business. Or anyone’s. Second is that I knew him and we met occasionally.”
Chomsky is a cunning linguist…
US home sales fell in April for the second month in a row and home prices had the biggest drop since 2012, according to a National Association of Realtors report released Thursday.
Not here. Not in the NY/NJ/CT metro. Sales may be down but prices aren’t. You want to live here? You better get a supply of knee pads or somehow have a bucket of stupid money. Otherwise, allow me to show you this dated ranch just outside of Stroudsburg, PA.
A ‘New Normal’ for Rates? Not So Fast, Says New Fed Research
‘There is no evidence that the era of very low natural rates of interest has ended,’ says New York Fed President John Williams
https://www.wsj.com/articles/a-new-normal-for-rates-not-so-fast-says-new-fed-research-6add6097?mod=hp_lead_pos2
A buyer I am working with offered 661 on a 639 ask in Park Ridge. Total of 4 offers and mine was lowest. With their offer my buyer included a love letter to the seller about the house. Seller called me directly to apologize to my buyer for taking the higher offer.
at least in Stroudsburg PA you could walk around with your gun on your hip. In New Jersey they will arrest you for having a Bic pen as a weapon.
better there than even Montana where now they started to believe in censorship.
America is truly coming unglued.
at least some of the ladies down in Paterson in Newark finally get to enjoy a beautiful purse from the short Hills Mall.
I realize it’s a little past Mother’s Day, but I’m sure they still feel appreciated. Probably way more than the ones who could afford it and expected it.
America’s been unglued for ages. Doesn’t mean there aren’t happy people living their best lives. The loudest (Trump) are usually just farts in the whirlwind.
I disagree By. There’s a lot of blood that gets shed in these places. But the right loves to report the stats, not each individual incident.
Ex:It’s getting worse.
The tiktok ban is misguided and a trojan horse for states to ban whatever they want. Even if it’s well intentioned. No different than the censorship issues we’ve dealt with for the past few years.
America’s been unglued for ages.
Not like this, it has changed a bit.
And speaking of NASCAR. who needs it when you have RT 80. I get to see cars drafting each other going 90mph on a daily basis. Pure entertainment.
Only downside is sitting in traffic waiting to approach the accident scene and getting late to your destination.
It’s more equal opportunity as well, Men, Women, all races, and no money required to enter the time trials- you can play if you are rich or poor. No inspections, no restrictor plates, no yellow flags. Keep going on 3 rims if that is all you have left.
TikTok ban is censorship, plain and simple.
Warning, dystopian future ahead….
Economy in the shitter soon. +2 for Repubs.
Abortion being banned in multiple states, +1 for the Democraps.
Ron DeSantis laughing like HeeHaw Donkey and taking on Disney, -0.3 for the Repubs.
It’s becoming hard to keep score with all the losers in government.
And what is it with that old goat Feinstein? Unwilling to leave Congress?
What the hell is wrong with Old American Goats? Does she want to be embalmed in her senate seat?
Pretty soon the Senate is going to be called Weekend at Bernies- the Government Edition.
Lots to take in on a daily basis. Legal Weed +100
A buyer I am working with offered 661 on a 639 ask in Park Ridge. Total of 4 offers and mine was lowest.
Any questions, kids?
Phoenix – Much of the 70 Billion shoplifted especially luxury merchandize is for sale online… You can get one of those Dior bags stolen this week for from the Westfield mall for 1/2 price. Try the realreal.com
It’s just another business, that is until you get shot by a security guard.
I’m jacking my asking price 100K above recent comps. De Nobili cigar aroma included. Can I offer you a Schlitz while you wait in the open house line? If you have to piss, please go behind the rotted shed next to the weeds that are growing through the old tires. I want your best and final by 5:00 PM.
Idea, Ed..bake weed chocolate chip cookies. Creates a beautiful smell in home and gets buys high enough to pay above asking price.
Idea, Ed.. spray Oxytocin air freshener. Creates a beautiful loving atmosphere in home and gets buys high enough to pay above asking price, and might even get you to drop yours.
Look at all that exclusive office space becoming available folks…Who wants to be a billionaire and be the next Sam Zell? All the articles written after his death said he made a fortune buying distressed commercial properties.
“Uber has listed for sublease an entire 287K SF building it never occupied at its four-building, 1M SF global headquarters in San Francisco’s Mission Bay district.
Uber has been paying $84 per SF for its headquarters complex since it opened in 2019. The ride-sharing firm also invested $160M to build-out the office space at the complex after it was developed for Uber by Alexandria Real Estate Equities, CoStar reported.
Uber employees have been working under a hybrid work schedule since Q3 2022.
Nearly a third of the offices in San Francisco are empty, a vacancy rate that approached 30% in Q1 2023, according to CBRE’s market report. Empty offices now encompass 27M SF in the city, eight times the amount in 2019, when vacancy was 5%.
Available space has risen above 34%, including the growing amount of offices listed for sublease that are not yet vacant. The amount of office space on the market for sublease is approaching 10M SF. More than 900K SF was listed in Q1 2023, including substantial listings from Pinterest, Meta and Slack.
Last month, Salesforce announced that it would be vacating the remaining space in one of two of its namesake headquarters tower in San Francisco.”
You can get one of those Dior bags stolen this week for from the Westfield mall for 1/2 price.
What would I want that for? Who wants a woman that needs a bag that costs more than I paid for my daughter’s braces?
5k bag? That’s a KRL756 right there. Of course I would pony up for the KRL722. But that will last you a lifetime.
Those nurses who bag doctors.
Ninja in training:
Knife-Wielding Woman Slashes BF In Fair Lawn, Flees With Son, 4
A 22-year-old Ridgewood woman had a 4-year-old boy in the backseat of her car when she slashed her boyfriend Thursday night in Fair Lawn, authorities confirmed.
ExEx says:
May 19, 2023 at 1:46 pm
Those nurses who bag doctors.
Plenty of nurses fish for that. We have 2 where I work that successfully reeled some in.
Poor guys don’t even realize they have been targeted. The things they say I won’t even repeat, nor the stories.
I could write a book- or a novel.
I would call it “Monkey Branching”
Phoenix – Drop Karen some spare change she is near her goal.
https://www.gofundme.com/f/help-sarah-comrie-fight-being-branded-a-karen
1:40 we are spending Saturday night in SF. Should be interesting.
Bringing mace. Fwiw
Phoenix,
…and might even get you to drop yours.
The only thing that’s getting dropped is my trousers.
We are headed down to New Orleans and Biloxi. I love New Orleans and have been there about 5 times or so. Mainly going to lounge out by the pool. Casino’s covering many meals, lodging and $600 of airfare. Captain Cheapo last minute vacation.
I heard the pool at the Beau Rivage is something special.
https://www.instagram.com/p/Cq8EwtmM-eO/
“Saturday Night in San Francisco”..one of the greatest acoustic albums ever recorded. Immediately what I thought of..Al, John, Paco.
https://www.youtube.com/watch?v=bhK_GFNq0N0&list=OLAK5uy_m3G0kqZEHRlJQRaPDPm24JHgr3sDg9Dmo
Yippee..my next break is Legoland. To quote Roy Kent “Fuu%%ck”
TMI Haha.
Fast Eddie says:
May 19, 2023 at 2:28 pm
Phoenix,
…and might even get you to drop yours.
The only thing that’s getting dropped is my trousers.
2:35 me likey…
JB,
She is fine, doesn’t need my money. OTOH not sure how I feel about this one. It’s not good but yet it seems like a short circuit:
https://www.youtube.com/watch?v=BtDMwz7tL_w
By Joe Pinsker
Anyone on the hunt for a new house lately has learned a hard truth about real estate: The only thing more important than location is timing.
Mortgage rates surged so much and so quickly in 2022 that those who bought homes mere months apart are now on starkly different financial paths. Some buyers’ good fortune to lock in historically low rates could pay off for decades and impact their life choices. Many late to the market have shifted from having fear of missing out to actually missing out.
Elizabeth and Phillip Martin of Roanoke, Va., started to shop for a home in spring 2020. That’s when Phillip, now 36, got a job as a high-school administrator, which confirmed they would stay in the area.
The couple bought a three-bedroom house that August for $239,000 with a mortgage rate of 2.875%, less than half the nationwide average today.
“Anytime I think I’m having a bad day, I just think, ‘I could be paying my house off on a 7% interest rate,’” said Elizabeth, a 35-year-old high-school teacher. “There but for the grace of God go I.”
Three years later, Kyanna Sampson, of Woodbridge, N.J., and her fiancé found themselves in a very different environment when they got engaged and started searching for a house. In March, they were preapproved for a mortgage with a rate of 6%, said Sampson, a 31-year-old member coordinator at a local realtor association.
“We obviously are coming into the housing market at a horrible time,” Sampson said. “My fiancé, he always keeps saying, ‘If we were just born a little earlier or a little later…’”
Happening into the housing market at a favorable moment has always been nice, but its wild fluctuations over the past three years have created a financial and emotional gulf between different groups of recent buyers.
“The real financial winners were the pandemic home buyers who locked into mortgage rates around 2 to 3%,” said Odeta Kushi, deputy chief economist at First American Financial Corporation, a provider of title and settlement services.
Mortgage rates initially dropped after the Federal Reserve lowered interest rates at the onset of the Covid-19 pandemic. They later jumped as the Fed began a series of rate hikes in March 2022 to address inflation. Fed officials signaled earlier this month that they might be finished raising rates for now.
The average rate for a 30-year fixed-rate mortgage is currently 6.39%, according to Freddie Mac. The typical monthly payment on a median-priced existing single-family home nearly doubled in two years, rising from $1,033 in June 2020 to $1,933 in June 2022, according to the National Association of Realtors, a trade group.
Since the Martins bought their house, they have had room in their budget to put in some new flooring and carpeting as well as a wood stove in their den. They also bought a new car.
Elizabeth Martin said she has at times felt financially unlucky as someone who holds student debt and has Type 1 diabetes. “We don’t always note those times when we’ve been the beneficiaries of luck,” she said. “This was definitely one of those times.”
“We don’t always note those times when we’ve been the beneficiaries of luck,” said Elizabeth Martin, a 35-year-old high-school teacher. “This was definitely one of those times.”
House hunters’ buying power has declined significantly since the Martins’ home purchase. In August 2021 the highest-priced home that a median-income household could afford with an average mortgage rate peaked at $593,166, according to an analysis from First American. That figure, which assumes a down payment of 20%, plummeted to a recent low of $387,313 in October 2022.
For home buyers, it’s as if they took a bathroom break during a game of Monopoly to find that every price on the board had nearly doubled. Many of today’s prospective buyers cannot afford to get their foot in the door, literally. Some of Kyanna Sampson’s friends managed to buy houses in 2019 and 2020, in convenient locations and with lower mortgage rates. “I am a little jealous,” she said.
Many of those who bought when their dollars went furthest, however, faced vicious competition, Kushi noted, and may have waived contingencies or settled for less-than-perfect houses. The median number of days that a house was on the market, typically 30 to 40 in 2019, dropped to the low 20s in 2020 and into the teens in 2021 and 2022, per the National Association of Realtors.
The difference in having bought a home now versus a few years ago could hit Americans’ wallets for decades to come, economists say. Refinancing down the line could help, but likely wouldn’t come close to erasing that gap.
A hypothetical buyer who purchased a house in June 2020 for $300,000, roughly the median for existing single-family homes at the time, with a 20% down payment and a 3% mortgage rate would pay about $89,000 in interest over the first 15 years of a 30-year loan, according to calculations by Andy Carswell, a professor of consumer economics at the University of Georgia. By comparison, someone who bought at the same price in June 2022 with a 6% mortgage rate would pay about $190,000 in interest over 15 years.
If interest rates dropped such that the 2022 buyer were able to refinance at 5% five years after their purchase, that number would drop to about $168,000, Carswell’s calculations show.
Refinancing comes at a cost, though—in this case, about $7,000 if it came out to 3% of the value of the new loan, a typical percentage for the fees and closing costs.
In the past several decades, good timing has tended to be less a matter of favorable prices and interest rates than of what happens in the housing market in the years after a purchase, said Jeffrey Zabel, an economics professor at Tufts University.
The problem for prospective buyers, Zabel said, is that even though timing matters, it is very hard to know in the moment if a certain time is fortuitous.
Renters who bought into the relatively stable housing market between 1989 and 1999 built more wealth in the following years and decades due to home-price appreciation than those who bought into the more turbulent market between 2001 and 2007, according to a 2020 study Zabel co-wrote. But purchasing during any particular year in one of those periods wasn’t more advantageous than purchasing during the others in that span of time.
Buyers who missed out on the lower prices and rates earlier in the 2020s say it is sometimes hard not to focus on what might have been.
Diana Capozzi of Lebanon, N.H., says that buying a house before 2022 would have made it easier to save for her son’s college education. PHOTO: DAVE WILSON
Diana Capozzi, a 39-year-old veterinarian, is bitter that the moment when she was ready to buy a house came near the end of a run-up in prices. She purchased a three-bedroom in Lebanon, N.H., in March 2022 for $570,000, about $170,000 more than it had sold for less than two years earlier.
Her mortgage rate, 3.875%, is desirable by today’s standards and she feels lucky to have it. Nonetheless, she saw some friends refinance in 2020 at a percentage point lower and wishes she had become a homeowner sooner.
She wonders if doing so would have put her on a more comfortable financial trajectory as she saves for her child’s college education and continues paying off loans from vet school. Capozzi said that the amount she would have saved on her monthly mortgage payment if she had bought a year earlier would cover most of what she owes each month on her student loans.
The house she bought is on a road called Poverty Lane, which she hopes isn’t a bad omen.
Economists say that because homeownership is a powerful generator of wealth, people who today wish they had bought earlier still have much to gain.
“I wouldn’t kick myself too hard if I was 30 and missed the last three years,” said Bill McBride, author of the housing-focused economics blog Calculated Risk. “I would just say, ‘OK, well, I got lots of years left.’”
Americans continue to have more faith in real estate than any other investment. 34% of Americans rated it the best long-term investment in a recent Gallup survey, down from 41% in 2021 and 45% in 2022.
For the purposes of building long-term wealth, when someone buys a home is typically less important than if they buy one at all, McBride said. And for many people, surging prices and interest rates closed off that possibility for now.
Jessica Jordan is grateful to have capitalized on that window of opportunity before it closed.
In 2020, after eight years of renting an apartment in the Chicago area, Jordan, now age 37, and her wife were tired of its communal laundry facilities, window AC units, and uncovered parking.
The couple had assumed that they couldn’t afford to buy a house, but started looking as mortgage rates began to dip that spring. In August, they ended up with a $295,000 house in Lombard, Ill., a 2.875% mortgage rate, and a sense that they had taken a long-awaited step toward full-fledged adulthood.
Jordan, who works at a distributor of auto marketing products, thinks that they would still be in their old apartment today if they hadn’t bought a house before prices and rates shot up. “I feel like we’re going to live here forever,” she said.
So glad to have combined the remaining debt on my primary and investment property down to 1.8% on a ten year. Smartest move I ever made financially besides a few nice stock picks over the years. Though, I am only about three years into it, the amount that goes to principal versus interest is already a much larger ratio than I expected it to be. I guess, paying such low interest really makes a difference.
Will probably pay cash when I head out to Vegas unless the market looks like it’s about to boom.
“window AC units, and uncovered parking.”
Lord have mercy.
Keep an eye on the curve…… it is really adjusting day after day…. it is starting to add up… still inverted and fucked up though…
https://www.cnbc.com/bonds/
We literally bleed money in Colts Neck….
https://www.youtube.com/watch?v=zxB5ZcAqJoo
Here is a good one. Drink from the hose……hahahhaha
https://www.reddit.com/r/TikTokCringe/comments/13l80s5/boomers_strong/
Don’t mess with the Penguin- You don’t want Jake and Ellwood coming for you:
Disabled Reverend Mother Superior at Texas Carmelite convent sues ‘pure evil’ local bishop for $1M ‘after he interrogated her while she was high on fentanyl post-surgery and got her to admit to SEX with a priest’
Not the best day for it but Mulch is on sale at Home Depot. Stock up while you can. I already mulched about 75% of my beds. I just have one more trip another 25 bags should do it for the season.
Price is $2 a bag, for the Vigoro2 cu. ft. Bagged Premium Black Wood Mulch that is 50% off….
This week, Home Depot announced their worst quarterly earnings in 20 years. Over the past two months shoppers have noticed marked price declines on a variety of products from outdoor BBQ grills to portable air conditioners.
Phoenix,
I read a blurb yesterday tah approx 35% of the population has more CC debt than savings.
Here is a good youtube on the state of the auto industry. From consumer issues to the major lenders who lend dealers $ for their new and used inventory. Adam Taggert interviwing. Cracks in the armor.
https://twitter.com/menlobear/status/1658842739125940226
America is entering a “forever” labor shortage, the baby boomer retirement surge is creating a labor shortage that will last for decades.
The number of Baby Boomers retiring is expected to peak in 2029. The US birth rate has also been declining for decades, which means that there may be a lot fewer people entering the workforce.
Take advantage of this situation by exploring better job opportunities and negotiating for higher pay and better benefits.
Back to AI..
Great watch..for the nerds…
https://www.youtube.com/watch?v=bWr-DA5Wjfw
Everything’s bigger in Texas
https://www.drivetanks.com/
WTF are you talking about Blumpy? Peak boomer birth was mid-1950s. Those people are 67-68 now. The last boomers hit 60 soon. You think we are still 6 years from “peak”?
My god..clueless. There is no shortage except in lowest paying customer facing or manual labor sector. There is a shortage of well-paying jobs that meet high inflation that persists. If we have 25% inflation over three years then jobs should be paying 25% more. They are not…you don’t get it. The Fed is trying to destroy labor market purposely.
Teacher at it again. Can’t you keep your hands off the little boys? Married with two kids? Get yourself a Lithium-Ion powered toy or something. You just messed up your entire family for a taste of young high school student?
Vanderhulst, who is married with two children, had been honored as ‘Teacher of the Year’ at the school in 2017
https://www.dailymail.co.uk/news/article-12107185/Teacher-Year-Southern-California-school-Tracy-Vanderhulst-sexual-relationship-16-student.html?ico=related-replace-2#comments
SF report. It’s awesome. Stayed in Union Square.
Plenty of cool stores, restaurants, cafes. Place is great!
Went to Haight area around Amoeba records. Awesome.
Not sure what all the stupidity ( Dave Chapell…Grim et al)
Don’t like it? Stay in Ohio & Wayne.
Here Phoenix Pfun Boy:
The University of Southern California settled lawsuits with 80 former students, many of them gay men, who accused a campus doctor of sexual misconduct over the course of two decades, officials said Friday.
The resolution marks a key point in holding USC “accountable for its failure to protect” students from Dr. Dennis Kelly, according to attorney Mikayla Kellogg, whose firm represented 57 of the 80 male plaintiffs.
Kelly was fired by USC in 2018 and lost his license to practice in 2020.
“I am glad that the complaints have been dismissed and to put this matter behind me,” he said in statement to NBC News. “I did nothing wrong.”
USC last year reached a $1.1 billion settlement with female students who accused former student health center gynecologist George Tyndall of repeated sexual assaults.
The U.S. Department of Education’s civil rights office found USC mishandled the cases, leading to a “complete failure to protect students,” then-Education Secretary Betsy DeVos said in 2020.
Tyndall was accused of targeting women, often foreign students from China and other Asian countries, for exams that included inappropriate touching.
But wait there’s more!
Former UCLA gynecologist found guilty in sexual abuse case
A Los Angeles jury found Dr. James Heaps, a longtime UCLA campus gynecologist guilty Thursday of five counts of sexually abusing female patients in a criminal case that came after the university system made nearly $700 million in lawsuit payouts.
She got that Reese Witherspoon look to her.
“The nature of a doctor’s job makes it even easier for him to abuse a patient,” she argues, “because they know you are most vulnerable while in their hands.”
Our socialization, says Wandia, has made us put medical practitioners on a pedestal when there are perverts at large within the profession.
She adds: “While a doctor may be truly qualified, we have others who may be suffering from psychological problems.
And these manifest even in their socialization. Some phrases that doctors use to break ice as they interact with a patient may point to their psychological state. For instance, ‘you are such a beauty’.”
https://www.standardmedia.co.ke/evewoman/living/article/2000216587/how-to-tell-if-your-doctor-is-a-pervert
Texas, lay off the booze:
Texas House Speaker Dade Phelan drunk on the job.
https://www.reddit.com/r/PublicFreakout/comments/13o04vm/texas_house_speaker_dade_phelan_drunk_on_the_job/?utm_source=share&utm_medium=web2x&context=3
Phoenix,
Cut that guy a break. If your duty 24/7 is to find ways to do the devils work, the only way to feel numb is be drunk as a skunk.
https://youtu.be/RwHBiv34Heg