From ABC News:
Home sales fell again in August as homebuyers grapple with rising mortgage rates
Sales of previously occupied U.S. homes fell for the third month in a row in August, as higher mortgage rates, rising prices and a dearth of properties on the market shut out many would-be homebuyers.
Existing home sales fell 0.7% last month from July to a seasonally adjusted annual rate of 4.04 million, the National Association of Realtors said Thursday. That’s below the 4.10 million pace that economists were expecting, according to FactSet.
Sales slumped 15.3% compared with the same month last year and are down 21% through the first eight months of the year versus the same stretch in 2022.
Meanwhile, prices rose again last month, propped up by buyers competing for a near-record low inventory of homes on the market.
The national median sales price rose 3.9% from August last year to $407,100, marking the third month in a row that the median price remained above $400,000. Last month’s median sale price is also the fourth-highest on records going back to 1999.
“Home prices continue to march higher despite lower home sales,” said Lawrence Yun, the NAR’s chief economist. “Supply needs to essentially double to moderate home price gains.”
Even as rising mortgage rates force many buyers to the sidelines, the shortage of homes for sale has kept the market competitive, driving bidding wars in many places, especially for the most affordable homes.
Buyers snapped up homes last month typically within just 20 days after the properties hit the market, and about 31% of homes sold for more than their list price.
“Sales are down, people are struggling to buy a home, but prices are going up,” Yun said.
first
Long-time day laborers annoyed by competition from recent arrival migrant-laborers at Home Depots in NYC . . .
https://nypost.com/2023/09/21/longstanding-nyc-migrants-pushed-out-of-jobs-by-newcomers/
Inflation is the result of Trump’s reckless mismanagement of the economy.
He forced the Fed to keep Interest Rates low and Quantitative Easing high. Both feet pressing the gas in an overheated economy.
Trump lost his reelection.
He lost the popular vote twice.
Impeached twice.
Indicted three times.
Failed one treasonous insurrection.
Do you have to be obese to go to a football game nowadays? Look at a crowd scene from the 80s and compare it to today. Amazing difference
https://www.dailymail.co.uk/sport/nfl/article-12547919/Wild-brawl-49ers-football-wig.html
Did I beat the Post to that scoop with my Passaic HD post the other day?
Seems so Grim.
20 years ago there were an estimated 100,000 day laborers. Those numbers will be in the millions soon. The backlog for a permit called an EAD issued by USCIS to prove eligibility to work in the United States is massive. You cannot get one right away there is a waiting period of perhaps six months and with the backlog the Governor of NY Hochul has announced she is going to perhaps give our NY State-issued work permits. Technically legal? Nobody knows as immigration status is a federal issue only. NY is at crisis levels, NJ has so far escaped but you can bet there will be tens of thousands here soon whether Governor Murphy supports it or not.
naw, the reporter seems to have recycled that story a few times this week. https://nypost.com/author/georgett-roberts/
Just to be clear of the new migrants arriving only about 20% have applied for asylum and the ability to obtain a work permit. This stat is from the NY Governor’s office. Biden admin says something similar, too few have applied.
So 80% of the new migrants are completely undocumented in any form and cannot work legally anywhere, so they are resorting to gig work, and food delivery services and standing outside Home Depot.
There are allot more coming too….
I mentioned what is happening in Africa, there are TV commercials running in African Nations saying go to Europe for social welfare and work, and well millions are are trying. I would think something similar is going on in Central and South America, whether it be TV commercials or on Social Media. Come to the land of the free etc for a better life. This isn’t NGOs doing it, there are people promoting this mass immigration as a form of Immigration war.
The message needs to be spoken louder, by our government..We have yet to see it happen.
Meanwhile, prices rose again last month, propped up by buyers competing for a near-record low inventory of homes on the market.
In the leafy confines of idyllic regions of suburbia, prices are sturdy and offers robust; undeterred by the agitation of supply and demand.
The message needs to be spoken louder, by our government..We have yet to see it happen.
Turn red states blue and s0cialist utopia will be achieved. Liberty as a core value of our declining nation will be a thing of the past.
It’s the most lawless and reckless thing we’ve ever seen. They’ve developed a plan to systemically break the law on a massive scale. The purpose is to perpetrate their third world revolution and capture a permanent voting majority. It’s an economic and security catastrophe. Our government sponsored by one political party is at war with half the country.
Amazing, isn’t it? We’re in a pseudo civil war and the muppets are clueless. The left is deviously masterful… beyond any tangible weapon that can be devised. Even the Chinese have to be looking at this in awe. Unless, they are funding a portion of it as well?
The U.S. Attorney’s Office in Manhattan has scheduled a press conference for 11 a.m. ET Friday to discuss the indictment against the senator and Nadine Menendez, which also charges the three businessmen: Wael Hana, Jose Uribe and Fred Daibes.
The indictment says that the Democrat Menendez and his wife from at least 2018 through 2022 accepted “hundreds of thousands of dollars in bribes in exchange for using Menendez’s power and influence as Senator” to benefit the men and Egypt.
“Those bribes included cash, gold, payments toward a home mortgage, compensation for a low-or-no-who job, a luxury vehicle, and other things of value,” according to the indictment issued by a grand jury in Manhattan federal court.
Now do Clarence Thomas and his disgusting wife.
Happy Bob Menendez Indictment Day to all who celebrate.
I don’t really think the left knows what is going on.
Right now no matter what the Biden administration does today or tomorrow there are perhaps a million or more migrants in transit right now to the border. They have already left their homes and are headed north tens of thousands are coming from even south of the Darien Gap from South America. Even Mexican nationals crossing the border is up something like 400%.
I also see it this way. VP Kamala Harris was put in charge of the southern immigration issue over two years ago. She was supposed to coordinate diplomacy with Mexico and the three countries of Central America’s Northern Triangle too keep people from crossing those borders first before they even get to ours. There was Billions given to them as well, to reduce poverty, corruption and lawlessness in those countries.
All I have seen recently is her speaking at colleges and trying to latch onto the climate crisis as well. She will take any college speaking gig over any real discussion about immigration. Next week she will be at Reading Area Community College…
You got that right the community college circuit… In two years she could be hawking books at Costco.
https://twitter.com/RACC_edu/status/1702780929817657372/photo/1
If anyone gets tossed under the bus it will be her, there is an election to win next November and politically someone will take the fall as this migrant crisis only looks to get worse between now and Nov 2024.
Cue stage left Senator Phil Murphy……
Can he even appoint himself as a replacement for Senator Menendez?
It’s a field day for foreign intelligence. Of course they have been sewing division and promoting woke etc. now using open borders to plant their assets is trivial. We can’t vet these people. Hell we’re paying for it. They must be laughing their asses off. We’rea laughingstock.
Here’s another crazy part juice. The left wants unrestricted abortion for the most part.
Yet they want to absorb the excess population from these countries, almost all of which abortion is illegal. None of these people are fed or educated at home but the left wants to do that for the entire world here.
Their platform is to abort away your children and replace them with someone else’s. Very twisted ideology.
Hey, on the bright side of things, we will have a ton of cheap labor. I wouldn’t be surprised if they are doing this on purpose to make up for the lack of births.
I truly believe the Fed is trying to break the labor market, and put the power back in the hands of companies. They lost all power over the workers since the pandemic.
Someone has to do the cheap labor your kids won’t do.
One thing is for sure, those day laborers will be working for the same Republicans that claim they don’t want them.
You can’t bring back slavery, but cheap labor is next best thing. And don’t worry, the middle class taxes will pay to support them, while the rich avoid taxes and hang out in Davos.
Bingo! Actions matter more than words.
Phoenix says:
September 22, 2023 at 10:37 am
Pumpy, more bright sides for you: They can also be used for target practice by the popo.
Or they can rape your daughters increasing the birth rate.
The Great Pumpkin says:
September 22, 2023 at 10:37 am
Hey, on the bright side of things, we will have a ton of cheap labor. I wouldn’t be surprised if they are doing this on purpose to make up for the lack of births.
NJGator says:
September 22, 2023 at 10:13 am
“Happy Bob Menendez Indictment Day…”
Shouldn’t have any impact on his re-election prospects (if he’s interested; he may have stashed enough gold bars already). NJ’s numb-nut Dems have already re-elected this grifter once, I don’t doubt they’d do it again.
Juice Box says:
September 22, 2023 at 10:15 am
“She [Carmella] will take any college speaking gig over any real discussion about immigration.”
Show me an example of any Dem — anywhere — that’s actually interested in good governance, implementing sound policies, and efficiently providing services for law-abiding, tax-paying citizens. The modern Dem party is littered with ever more radical virtue-signalers and score-settlers, to the point where there is no room for anyone that might be interested in governance (see RFK Jr)
10:29 you should have been aborted. Earlier the better.
Just think how much pain and suffering it would have saved your parents if most of you hadn’t seen the light of day.
Easy boys. Be nice to Bobby. He is around because NJ really only has two unions with bite, neither are private- the PoPo and the Teachers.
NJGator says:
September 22, 2023 at 10:13 am
“Happy Bob Menendez Indictment Day…”
Shouldn’t have any impact on his re-election prospects (if he’s interested; he may have stashed enough gold bars already). NJ’s numb-nut Dems have already re-elected this grifter once, I don’t doubt they’d do it again.
Looks like America is surrounding China again. This time with robotic ships.
Keep poking. Eventually someone will have had enough.
Two prototype U.S. drone ships have arrived in Japan for their first deployment in the western Pacific, testing surveillance and attack capabilities that the Navy might find useful against China’s larger fleet.
U.S. Navy Cmdr. Jeremiah Daley said unmanned surface vessels that operate autonomously could substitute for larger ships such as destroyers in groups hunting enemy targets. “For example, one destroyer and two USVs could replace three destroyers. It’s a force multiplier,” he said.
What is Nadine wearing? And the gold bars, did they get that idea from Lib?
https://www.dailymail.co.uk/news/article-12549609/Democratic-Senator-Bob-Menendez-wife-Nadine-INDICTED-corruption-allegations.html
The only realistic border control the US has at the Southern Border right now is the cartels. Anyone showing up and reciting thier canned “asylum speech” is getting in, so CBP doesn’t really stop any crossings.
The Latin Americans are paying $7k to the cartels to wait near the border then cross it. The Africans and Asians are paying $20k. If you have not paid, you don’t get a wristband. If you are caught in a border area without a wristband, you will be in trouble with the cartel controlling that area.
If foreign intelligence believed that a higher surge of migrants would hurt the US and they wanted to enact same, they would make inroads with the cartel controlling a sector of the border to drop the price. The cartels already have some kind of corrupt system in place for Africans to fly into mexico somewhere. Seems like they could easily set that up from Colombia and then it would eliminate the difficulty of the whole “traversing the Dairen Gap” problem that many migrants are facing.
Interesting on Menendez, they got an old time Hudson Country connection to Menendez. Edgewater Developer Fred Daibes indicted. He has connections to the Genovese crime family in NY. Still no indictment of long-time North Bergen Mayor/State Senator Nicholas Sacco, as that guy is Teflon. These guys all grew up together in Hudson County is my understanding anyway.
Problem is they always send the men and women with children. I would love to get my next wife from a detention center.
Throw me a bone already. I cannot stand needy white feminist women anymore.
A guy with a fake 20 gets a knee on the neck and a death sentence.
These guys will pay a small fine and go on their merry way. Welcome to the US Justice system. Go salute that flag you patriot while the tax man shoves his red white and blue dicc up there while you are working hard just to survive.
Juice Box says:
September 22, 2023 at 11:28 am
Interesting on Menendez, they got an old time Hudson Country connection to Menendez. Edgewater Developer Fred Daibes indicted. He has connections to the Genovese crime family in NY. Still no indictment of long-time North Bergen Mayor/State Senator Nicholas Sacco, as that guy is Teflon. These guys all grew up together in Hudson County is my understanding anyway.
Oh, and I want her to look like J Lo. Or Ariana Grande. Or Camila Mendes.
I’m not choosy. Any of the three will do.
Finally, a simple review of the PBM process…
https://www.youtube.com/watch?v=5rw4kNHNZyk
$500,000 in cash found in the Menendez house? Damn, that’s a good ROI based on a Senator’s pay.
You should see his Cayman island accounts.
Well, that’s going to escalate things..
Black Sea Fleet Headquarters Takes Direct Hit From Cruise Missile
Menendez should have taken a page from the O’Biden playbook and created a bunch of shell companies. Money for nothing and much too young chicks for free.
Menendez was prosecuted by the Obama admin and got off. Now he’s being prosecuted by Joe. You must really suck to get prosecuted twice in the era of wide open corruption and media cover.
Why can’t he just trade on insider information like the rest of them?
Silly BRT, the market isn’t manipulated. It’s a pure fair system.
BRT says:
September 22, 2023 at 1:39 pm
Why can’t he just trade on insider information like the rest of them?
Oh boy…
grim says:
September 22, 2023 at 1:20 pm
Well, that’s going to escalate things..
Black Sea Fleet Headquarters Takes Direct Hit From Cruise Missile
Polish government pissed at Zelensky, who wants Poland to buy cheap Ukraine grain, which will undercut Polish farmers. Also a feeling that Ukraine is not grateful for all the help Poland has provided to date. Polish elections are soon, numbers are tight between ruling party and opposition. A far right party is polling 10 percent right now, and are not Ukraine supporters.
Poland made a comment that was pretty chilling. Something along the lines of, “we’ve helped fortify Ukraine, unfortunately now it’s time to focus on fortifing Poland.”
ExEx says:
September 22, 2023 at 11:04 am
Just think how much pain and suffering it would have saved your parents if most of you hadn’t seen the light of day.
https://www.depmode.com/Depeche_Mode_Playing_The_Angel.php
Grim: Are they anticipating a Russian attack??
US paper out to next September 543
Financial corporate paper to 2025 631
I think the end of the quarter is having an impact…..
There’s a farmers market by me that sells a lot of polish products. I was going to buy some of their flour to see how it is compared to Italian flour.
Be careful, it might be laced with Fentanyl.
My underwear is laced with fentanyl
Polish people finally figuring out they were duped by America. Germans getting the message as well.
Stalingrad the Germans called the Russians the Untermensch. Russians were tough and determined. Now treating them like that again thanks to America.
Could be dark times ahead. I guess a nuke to the “Tri State Area” might be the only thing to drop real estate prices here, and humble the narcissistic homeowners who will then wish they purchased in Gary, Indiana.
Nope, that’s just dried ejaculate. Feel free to snort it though.
ExEx says:
September 22, 2023 at 3:54 pm
My underwear is laced with fentanyl
Friend in the DEA told me that fentanyl is from Mexico exclusively. He also said, those videos you see of cops passing out being near it are panic attacks.
4:11 I’d truly enjoy kicking you square on in the nuts.
ExEx says:
September 22, 2023 at 5:06 pm
4:11 I’d truly enjoy kicking you square on in the nuts.
https://youtu.be/TaR4LcLbW8I?t=9
chi, breaking that 425 on the ten turned resistance into support, no?
On quarter end and seasonality, market had an interesting response to Fed. Usually vol drains from the market regardless of direction (unless obviously the market totally pukes). This time vol jacked up. Guessing some institutions took advantage and put on some cheap short term hedges…know one that did a bunch one week out, and the volume on the 10/18 VIX settlement date has been kind of crazy most of the week.
BRT/Lib, another interesting chart to look at is the near term forward inversion…fewer false positives than others, it’s the 18 month out 3 month futures vs. 3 month current. Any time and every time we hit these levels, even without the crazy slope currently present, we’ve hit recession.
Also BRT, yeah, some nasty breaks…trendline…did not like the past two days, Thur we gapped down, today we started higher and went the other way. Both on higher than average volume. Actually most recent down days have been on higher than average volume and up days less so.
“merica
UAW President Shawn Fain announced 38 new sites across the country that will be struck at noon Friday as an expansion against the union’s one-week-old action against Detroit Three automakers.
Fain said the union has made good progress with Ford Motor Co. this week, but General Motors and Stellantis “will need some pushing.”
For that reason, he said, “At noon eastern time today all parts distribution centers at GM and Stellantis will be on strike. We will be everywhere from California to Massachusetts and we will keep going and keep expanding the Stand Up Strike as necessary.”
Then, if that isn’t funny enough, you have this :
“Joe Biden to join picket line with striking auto workers in Michigan”
Citadel Securities has been charged by the SEC for abusive short selling practices.
The SEC estimated that the firm marked millions of certain short sales as long sales and vice versa from 2015 to 2020.
The fine?
$7 million.
Soft landing they said….lmao
“The housing market is stuck, per BI: Americans can’t afford homes, investors aren’t buying property, and economists see little relief ahead.”
The U.S. Treasury plans to buy back outstanding securities next year to boost bond market liquidity, but a senior official says it won’t ease periods of extreme financial stress.
In other words,
They are very confused and are hoping for the best.
Hold on tight.
BREAKING
A man who attacked a news photographer and attacked police officers guarding the U.S. Capitol on Jan. 6, 2021, was sentenced Friday to five years in prison.
Rodney Milstreed, 56, of Finksburg, Maryland, “prepared himself for battle” on Jan. 6 by injecting steroids and arming himself with a four-foot wooden club disguised as a flagpole, prosecutors wrote in a court filing.
“He began taking steroids in the weeks leading up to January 6, so that he would be ‘jacked’ and ready because, he said, someone needed to ‘hang for treason’ and the battle might come down to hand-to-hand combat,” prosecutors said.
Ya think hundreds of day laborers begging for work at Home Depot was bad enough how about thousands?
BREAKING NEWS: Biden makes border history with highest illegal crossing attempts and paroles ever recorded in a month: 304,162.
I am not against immigration, but this is insanity. Even if they all can claim asylum legally there is not enough work. Idle hands folks..
BTW = Had a nice dinner with friends in NYC last night. I don’t go in often and have not been back in two years. It was like the bad old days of the late 80s early 90s. The amount of crazy homeless around Penn Station and the Post office was a sight too see. The Hasidics were there proselytizing to anyone they thought was Jewish including me lol…The street vendors and the tourists rushing around and the waft of marijuana was everywhere…….. A whole new generation of madness….
I like the city gritty…Too bad I am not in my 20s anymore As I would love to find out what the bar and singles scene is like again but alas those days are long gone.
Everyone I spoke with last night said Hybrid was mandatory now three days in the office. Two of my friends commute on NJ Transit from Chatham and the other from Princeton. The other comes down Metro North from Mahopac. They all said they have coworkers about to get laid off because they have not returned to the office. Seems many had moved away!
Looking at ridership peak days compared to pre-covid days. 78% for Metro North and 73% for LIRR. I assume NY Transit is about the same peak days etc. Subway has peak days now 72% pre-covid records. Monday and Friday are the low ridership days.
For Phoenix
https://www.tiktok.com/t/ZT86yb9Af/
Keep on trucking Doc
Juice; NYC whole atmosphere has changed, back to some form of the bad old days, with new problems thrown in. It is back to being dirty too. I have no idea what the night life is like there now. I understand alcohol consumed is declining among the younger generations. There was an article in the WSJ last week about the end of the after work drink, and how employees for the most part are not interested any more. I noticed that prior to the pandemic, people rushing out to catch trains to get to day care /after school programs in time. As for the pot, smell it seems to be pervasive now, even early in the morning. I don’t feel the vibe and energy some people talk about, but might be because I am not in my 20s/ 30s any more.
Phil going for the jugular.
“The alleged facts are so serious that they compromise the ability of Senator Menendez to effectively represent the people of our state,” said Gov. Philip D. Murphy, a Democrat. “Therefore, I am calling for his immediate resignation.”
Damming stuff envelops full of cash stuffed in jacket pockets….
“Federal agents who raided the Menendez couple’s New Jersey home in June 2022 recovered more than $480,000 in cash – including tens of thousands of dollars stuffed into envelopes in the pockets of the senator’s official government jackets bearing his name and hanging in his closet.
Authorities also recovered three kilos of gold – worth $150,000 – from the home, as well as $70,000 in cash stored separately in Nadine’s safe deposit box, the feds said.”
https://nypost.com/2023/09/22/details-of-charges-in-sen-bob-menendez-bribery-indictment/
So there was actually 1m in cash and 6 kilos of gold.
Well, they did recover the “usual” half during a bust.
Juice: I am sure there is a rational explanation for all of this. If he was a Republican however, the media would be in hysterical! They are blow!
Phoenix: Everyone could have amount of cash laying around in their house, and a few gold bars. He was just very good at money management.
3b – he is done everyone is calling for his resignation. He won’t be able to raise money for reelection and the Dems cannot lose this seat. Murphy needs to appoint a strong replacement who can win in next year’s election too. Maybe Congressman Andy Kim, unless well Murphy wants the job for himself. This is his last term, he may just go for it.
The last New Jersey Senator convicted of bribery was “Pete” Williams. They got him in 1981 during the Abscam scandal with the FBI posing as posed as fictional Arab sheikhs and handing out cash bribes. Senate was to vote on his expulsion back then. They were going to kick him out so he resigned. They should do the same with Menendez this was his second chance and he should not get a third, but I doubt Schumer wlll do it.. He is a clown..
BTW the Metro Park train station was named after Senator “Pete” Williams. They took his is name down. They should do the same for Menendez there is a school named after him in West New York, and perhaps name a rest stop toilet after him instead.
Artificial intelligence is turbocharging the field of synthetic biology, helping researchers break down barriers in medicine, food science and agriculture, energy and climate change research.
Synthetic biology, a broad term, is often used to describe the practice of taking existing proteins or biological material and reprogramming or repurposing them—a process that can enable researchers to program living organisms, much like a software engineer would write code.
The field of synthetic biology as currently understood has taken off in the last few years through innovations such as large-language models and generative AI and the availability of more data to train them, according to Alexandre Zanghellini, the CEO of Arzeda, a Seattle-based startup that uses AI—and non-AI algorithms—to design enzymes and protein sequences.
$11.4 billion
The estimated revenue of the global synthetic biology market in 2022, according to research firm MarketsandMarkets.
Still, for all its progress and promise, synthetic biology is an emerging field that faces several hurdles to its adoption. Products made with synthetic biology must still go through standard regulatory procedures, and the cutting-edge nature of the tech could spur demands for more regulation and trust issues that could hinder public acceptance.
This week, we take a closer look at several companies that are trying to use AI to bring synthetic biology—and the products it aims to create—from the laboratory to the marketplace.
Illinois-based LanzaTech, which uses recycled carbon emissions to help create materials that can be turned into clothing, plastics and jet fuel, said it started using AI a decade ago.
“We build some microbes, we collect our data, and then we feed it into an AI system, which will then recommend what we should build next.”
— James Daniell, LanzaTech’s vice president of AI and computational biology
Another synthetic biology company, Ginkgo Bioworks, said it’s working with Google to create large language models that can generate protein designs, optimize protein sequences, and functionally engineer certain proteins. And San Diego-based Geno is exploring ways of turning materials like industrial corn or sugar cane into a synthetic nylon that performs like the original, using AI in its research-and-development process.
🤔 What industries will be most affected by synthetic biology? Send me your thoughts, questions and predictions by hitting “reply” to this email.
So early to synbio with DNA. Looking for that grandslam multi bagger…found it.
Still have a short position on DNA…but might abandon it and go long. They are having an investor day on October 3rd…so maybe see a pump. Still trying to get a read on it.
Pumps don’t believe the Hype.
The rented space on Google’s cloud. No different than any other company. Google’s engineers won’t be working for free on Protein folding, they are going to stand it up but Ginko needs to now hire lots of software folks with experience. There is nobody with that kind of experience that is cheap or even really experienced as we are talking about refactoring and replatforming whatever Ginko already has which falls back to an old adage in computing. Garbage in, garbage out, or GIGO.
https://www.prnewswire.com/news-releases/ginkgo-bioworks-and-google-cloud-partner-to-build-next-generation-ai-platform-for-biological-engineering-and-biosecurity-301912283.html
Pumps – This is what I am talking about so it’s clear. Google’s Palm 2 large language model (LLM) was announced in May. Who knows it? The how-to books and guides have yet to even be written.
https://www.amazon.com/s?k=Palm+2&i=stripbooks&crid=86RT69F91P7K&sprefix=palm+2%2Cstripbooks%2C73&ref=nb_sb_noss_2
Juice: I think Murphy will stay where he is, and watch how the Biden/ Harris situation unfolds. Apparently democratic insiders are very worried about Biden’s reelection. As for Menendez the evidence is compelling , and the Dems know it.
Juice,
Def early…i am hoping price gets to 1.20s again if macro keeps getting worse. Long-term I believe synbio is the future. DNA is def going to get a slice of that pie…they have so much data built up to feed ai.
BREAKING: The S&P 493, which is the S&P 500 excluding 7 technology stocks, is now up just 4% this year.
Meanwhile, the S&P 7, also known as the 7 largest S&P 500 companies, is up 52%.
Combined, the S&P 500 as a whole is up 13% this year.
In other words, if you buy the S&P 500 today, you are basically buying a handful of companies that are driving the entire market.
The 7 largest stocks in the S&P 500 now account for a massive 34% of the entire index’s value.
Without these 7 stocks, the S&P 500 is basically FLAT this year.
What happens if the AI-hype fades?
I went into a Dunkin Donuts this morning, grabbed a coffee and the youngster behind the corner once again handed me the coins balanced precariously on the flimsy bills. It’s like that game where you pass the egg from one person to other without breaking it or the water balloon toss where you keep taking a step back after each hurl. 99 out of 100 of the Z and millennial cats and kittens do the same thing. It drives me nuts. The coins ALWAYS fall all over the counter and the floor.
It then occurred to me that our nation is declining rapidly. The youngsters can’t count and they can’t give change. They don’t know fundamentals. They don’t cut grass, they don’t shovel snow, they’re not opportunistic nor inventive nor have the desire for hard work. They’re not curious or savvy enough, believe pop culture began in the year 2000 and gloss over if the conversation doesn’t involve a meme. What happened? Why are they so breezy and casual? We knew how to count up, hand coins first, then the bills, then the receipt if warranted.
Bring in the baby boomers… the much maligned boomers… the selfish boomers who get hammered by anyone younger than themselves. Why the boomers? Who’s can carry nation until we somehow turn it around and become sturdy again? Who’s going to fight the fire and help carry the load? Who’s going to put the 100 ton train back on the track? No, the boomers don’t need to work, they have to work or else our adversaries will simply walk in the front door with no resistance at all.
corner = counter
Either way he lost half of it now, unless he has cameras……
3b says:
September 23, 2023 at 10:59 am
Phoenix: Everyone could have amount of cash laying around in their house, and a few gold bars. He was just very good at money management.
Fast Eddie,
They don’t care about you, or anything else. Boomer gave them no reason to.
Don’t worry, no matter how much you cry, they are here, and you can pick your coins up off the floor when you are ninety.
You reap what you sow.
Fast: VP Harris says the young people are suffering from climate anxiety. I don’t criticize the young people, I think they got a raw deal. And is it the young people, or the older people who raised them? Just saying. As for mowing lawns and shoveling snow, what would the neighbors think, no lawn and snow service?? Kids working summer jobs or after school? Horrifying! Saw it many times over the years by parents in the suburbs.
Don’t know Murphy but if one goes on profiles….Congress sucks for anyone with ambition. Senate less so but still. It’s why you very rarely see Govs going to Senate, the flow is almost always the reverse. Takes so long to get a voice/seniority in the Senate, and then you are still just one of about 60 (assuming your Party is in power, if not you are mostly irrelevant).
If you were a banker, exec, Gov, entrepreneur, etc anyone with real authority or ambition it’s just oil and water….plus very rare to go directly from Congress to Presidency…
Part of the reason Romney was always a bit of puzzle for me.
Doubt Murphy wants the Senate job…doesn’t need the money or the anonymity, and he (foolishly) believes he may be able to be something bigger.
My kid shoveling boomer snow, let her take out a reverse mortgage when she cries about the price.
Or she can buy a walker with a plow on it and push it herself.
Grubby old goats hoarding wads of cash claiming to be broke. I’d bet Menendez wants some teenagers to shovel off his driveway for free.
Fast Eddie says:
September 23, 2023 at 11:52 am
I’ll have my kid do a TikTok video with a boomer going nuts over this. Perfect. Start a trend to annoy boomers. I love it. Only takes two minutes to get it produced and up on TikTok, which, by the way, is an awesome platform. That’s why the Americans want to own it.
99 out of 100 of the Z and millennial cats and kittens do the same thing. It drives me nuts.
“It then occurred to me that our nation is declining rapidly. The youngsters can’t…They don’t know…They don’t…they don’t…they’re not…nor…nor…They’re not…What happened? Why are they so breezy and casual?”
Dude, we’re the same age approximately (I think) and this missive even made me cringe….
Why are they so breezy and casual?
Because they choose to be. Good for them.
I’m surrounded by (and intentionally surrounding myself with) these younger generations.
They’re OK.
Actually, they’re better than OK.
They truly don’t give a shit if the way they hand change (or do anything else) twists your panties in a bunch.
Nor should they.
Your hang up, your issue. Not theirs.
If that rocks your world, it’s on you, not them.
It’s actually very refreshing being around them. They have been dealt the hand they have and they are making the most of it, living in the moment.
Wish I had that same sensibility way back when.
They truly don’t give a shit if the way they hand change (or do anything else) twists your panties in a bunch.
Umm… I think I already know that. :) I’ll most likely be dead when our adversaries take over. Let’s hope the intemperate leaders in charge spare their lives when/if they fuck up the menu order.
It’s our fault… it’s all of our fault. We all were way too soft on them because all we tried to do was give them the easiest path to success, whatever that may be. And then technology came along and gave them instant information which is a good thing but it also turned them into zombies which is a bad thing. They didn’t drive a rusty nail through their foot building a fort because they are too busy being hypnotized for hours scrolling through useless s0cial media. And, we’re way down the list in math and science, who or what do we blame for that? They’re lacking s0cial skills, among tangible skills as well. Don’t kill the messenger, it’s simply what I’m witnessing.
No you didn’t, you gave YOURSELVES the easiest path to success. You profited every inch of the path. The same boomer that was crying in the hospital begging a gen z to save them is now ripping them off on their effing real estate.
Just die in that house already.
Fast Eddie says:
September 23, 2023 at 12:55 pm
It’s our fault… it’s all of our fault. We all were way too soft on them because all we tried to do was give them the easiest path to success
And critical thinking skills. That’s the biggest hurdle. That’s numero uno. They just don’t have them. The most impressive thing I’ve seen lately is my friend’s 15 year old son teaching HIMSELF cursive writing. There’s a rare move. I’m thinking to myself… they don’t teach writing in school anymore? Isn’t it just a function of discipline if nothing else? Rudiments? Exercise? Mental fitness? What next? Everyone just gets a pony Will they melt and blow away when the enemy threatens to take their pony?
They got a pony, boomer got a pension.
Wanna trade?
Coins? Never been here in dunkin dunuts, do they only take coins?
At Starbucks we pay with iPhones
They got a pony, boomer got a pension.
I don’t have a pony or a pension. ;)
At Starbucks we pay with iPhones
Is that before or after you give the barista a hand job?
“There is a prolific investor that is “flying into San Francisco every Wednesday to amass as much distress real estate as possible”.
They have already acquired generational assets at a very low basis.
It’s the old buy and hold through the storm strategy.”
“I would absolutely love to invest in prime real estate in San Francisco and/or New York
Who’s doing deals in these markets?
I’m talking prime, generational assets in these 2 markets specifically
I think this is a once in lifetime opportunity to buy assets on the cheap in these markets”
https://www.msn.com/en-us/news/politics/republicans-erupt-after-pentagon-exempts-ukraine-aid-from-potential-us-government-shutdown-says-it-all/ar-AA1h7yuI?ocid=winp1taskbar&cvid=703001dfebc04b53a2ff7d85307ad917&ei=24
100 billion to Ukraine, what the hell is Joe Biden hiding?? Our own people are hurting and he is giving away our hard earned money. No ceiling on how much he gives Ukraine, he even wants to give them more money when our government shuts down. Is he trying to get inflation up to 40%!!!
“Umm… I think I already know that.”
So you say until your very next line…where you double down on living in an entirely different universe….
“It’s our fault… it’s all of our fault. We all were way too soft on them…zombies…they are too busy being hypnotized for hours…They’re lacking…They just don’t have them…Isn’t it just a function of discipline if nothing else? Rudiments? Exercise? Mental fitness?”
Speaking Pumpkin slowly now…they don’t care about you. They don’t care what you think. They find you annoying at best and repulsive at worst.
They are busy living their lives…mostly in the moment, mostly happy, at least content.
You and your views and opinions are irrelevant.
You literally could be living on another planet and, if not, from their perspective the sooner you get there the better.
In other words, as Phoenix so succinctly puts it, from their perspective just STFU already, drop dead, and leave the house and Medicare/SS on your way out.
Should have been a cop, you would have had both, envelopes of money, a gold bar or two, a twin engine speedboat, and a couple of alimony payments as females love cops and firefighter pensions.
Fast Eddie says:
September 23, 2023 at 1:07 pm
They got a pony, boomer got a pension.
I don’t have a pony or a pension. ;)
Well Jim,
Even the Polish have finally wised up and are pushing back. Joe is so demented he is now switched from sniffing school girls hair to sniffing Zelenskyy’s hair, and like some old guy giving his fortune to a young woman he is giving it to Zelenskyy.
Except it is our money he is giving. Maybe like the TikTok meme he is rubbing one off to the Roman empire.
Jim says:
September 23, 2023 at 1:28 pm
100 billion to Ukraine, what the hell is Joe Biden hiding?? Our own people are hurting and he is giving away our hard earned money. No ceiling on how much he gives Ukraine, he even wants to give them more money when our government shuts down. Is he trying to get inflation up to 40%!!!
A person of honor, a member of the court, a judge that is to be respected, a woman that is to always be trusted……
Glamorous retired Chicago judge is disbarred after scamming $240,000 from her Tuskegee Airman survivor uncle while he was in senior care home
Patricia Martin, who sat on the bench in Cook County for 24 years, was in charge of handling Oscar Wilkerson Jr’s life savings, her uncle
His family and the state legal agency claimed she stole $240,000 of his money, which she acknowledge amounted to misconduct
30 year mortgage rates at 7.75, Zillow predicts home prices will rise 5 percent next year, down from their previous estimate of 6.5
This is how it’s done.
https://www.reddit.com/r/PublicFreakout/comments/16q1130/queen_karen_gets_roasted_for_telling_someone_to/?utm_source=share&utm_medium=web2x&context=3
Veteran economist David Rosenberg says the economy is in trouble. He does not believe in “fairy tales”
PoPo not playing
https://www.youtube.com/shorts/QAYfMs3z_v8?feature=share
Budd Lake Fire Chief Locks Eyes With Woman While Masturbating In Sparta ShopRite Lot: Police
A North Jersey fire chief was arrested for masturbating in a vehicle parked in a ShopRite parking lot, authorities said.
https://youtu.be/7JkrJUAg8aI?t=66
In other news Ireland beat South Africa in Rugby today , 13, to 8. Three in a row, Scotland next. Great game.
He’s absolutely correct. 💯
Tic tic tic
3b says:
September 23, 2023 at 2:20 pm
Veteran economist David Rosenberg says the economy is in trouble. He does not believe in “fairy tales”
3b,
I’ve been catching the Rugby matches the last few days. Good stuff! No head gear and pads for these guys! Takes ‘kill the man with the ball’ to a whole new level!
Lol!
It would take some combination of up to a 28% decline in home prices, a more than 4% reduction in 30-year mortgage rates, or up to a 60% growth in median household incomes to bring home affordability back to its 25-year average, per Black Knight
Nothing to see here…tic tic tic…from the dude that was bullish all last decade and called this.
Fast: It’s a great game, very physical, two intense 40 minute halves. Great camaraderie.