From CNN:
US home prices hit another record high in March
US home prices reached a record high in March, reflecting the housing market’s persistent affordability crisis.
The S&P CoreLogic Case-Shiller US National Home Price Index, a measure of home prices across the country, jumped 6.5% in March from a year earlier to a record high. It is the sixth time the index has reached a new record high over the past year.
The report showed that there’s strong demand for housing in urban population centers such as San Diego, New York, Cleveland and Los Angeles. The 20-city index rose in March at a slightly faster pace than in February.
“This month’s report boasts another all-time high,” said Brian Luke, head of commodities, real and digital assets, at S&P Dow Jones Indices. “We’ve witnessed records repeatedly break in both stock and housing markets over the past year.”
In addition to unrelentingly high home prices, the housing market is also grappling with a chronic lack of homes on the market and elevated mortgage rates. Put together, it has resulted in a tough housing market, especially first-time buyers.
…
The average 30-year fixed-rate mortgage fell below 7% last week, after rates began to surge in mid-April. Still, mortgage rates are higher than anything seen in the decade leading up to 2022. Economists don’t expect mortgage rates to decline meaningfully this year and could very well remain above 6%.
Foist😉
Re: another all-time high
Yes this is why we do not need ZIRP again to have 3.5% mortgages.
On South Park:
They touched on one very important strategy in that clip. The requirement to fax back completed documents.
Insurance companies 100% realize that this creates incredible friction in the process. Nobody owns a fax machine. Nobody even works in an office where there is a fax machine. In some cases, your local office supply store might not even have a fax machine anymore. I mean hell, a physical fax machine doesn’t even work if you don’t have a copper phone line, which most of America doesn’t even have anymore. There are plenty of very easy ways to replace this requirement with easier, lower friction options.
They will not. As long as there is 1 fax machine left on the planet earth they will require you to use it.
In fact, they go out of their way to do this. This isn’t some legacy option that just happened to have some staying power due to efficiency. The hardware necessary to execute this at scale, the software to manage mass fax. You could replace this with online portal or emailing scanned docs at 1/10th the operating cost for them. Meaning, it would SAVE the insurance companies to not use faxes.
But the rub is, the cost of supporting this is far less than the cost of the claims that people don’t submit because of the friction. They could easily put a solution in place and radically cut the processing cost and time, but the resultant increase in claims makes it incredibly unappealing.
Insurance companies are not your friends, they are not looking out for you, their spiel is complete bullshit.
I’m shocked they haven’t gone to the point of requiring notary acknowledgement of claims appeals. Though I’m sure there is some Ivy League business consultant in there suggesting it right now. You know, to reduce the potential for claims fraud, so that they can more effectively deliver quality care to those who need it.
Not sure what the intended goal is of so publicly celebrating the contractual clawback for the failed wind project. Ok, so NJ gets $125 million for, well, lost time? As far as I can tell, we didn’t actually give Orstead a penny, so this penalty was simply for not moving forward. However, going forward, what company seeing this is going to be so willing to “invest” in NJ? I guarantee the next company that comes to the table for this project is going to be looking at a billion dollar clawback amount being proposed by NJ.
https://www.nj.com/cape-may-county/2024/05/nj-loses-out-on-175m-after-offshore-wind-farm-developer-cancels-projects.html
Asked about the settlement Tuesday afternoon during his latest call-in television show on News 12 New Jersey, Murphy said the goal with Ørsted was to “make them pay” for pulling out of the project.
“And we have succeeded in that,” he said. “I’m pleased with the amount. They got nothing out of this.”
Money from the settlement will go towards the state’s wind facilities and other clean energy programs, the BPU and Murphy’s office said Tuesday.
Reacting to the settlement on social media, state Sen. Joe Cryan, D-Union, said the $125 million should be used to offset ratepayer cost increases expected from offshore wind energy projects.
“The clawback settlement of $125 million from Ørsted — while not near the amount they owed to New Jersey — is a good downpayment on expanding the offshore wind supply chain,” Doug O’Malley, director of Environment New Jersey, told NJ Advance Media in a statement. “Ørsted owed more, but it is unclear if they could have been forced to pay the full bill.”
Or this gem…
BPU Commissioner Zenon Christodoulo cited record-breaking temperatures of summer 2023 as one reason why “we can’t kick the can down the road any further” with moving toward renewable energy sources. But he insisted the BPU will hold offshore wind developers to price guarantees in future contracts, with “no hat-in-hand…nickel-and-diming” attempts to sweeten their deals.
Wind developers can expect “fanatical, even tyrannical oversight of your project,” he added.
Is today the day? Donnie gets convicted?
“Judge Instructs Jurors They Need Not Believe Trump Is Guilty To Convict Him”
https://buff.ly/3V2OkOm
Worth noting, NY state did beat NJ with the countries first active commercial wind farm, off the coast of LI.
Re: Wind farms.. and renewables.
Copper windings and wiring is expensive, and well copper prices will continue to climb, so get to digging.
To go green and renewable we need to mine more than double the amount of copper ever mined in all of human history, and that is just for the United States.
https://news.umich.edu/copper-cant-be-mined-fast-enough-to-electrify-the-us/#:~:text=The%20researchers%20found%20that%20between,considering%20the%20green%20energy%20transition.
We’ll see aluminum wiring come back again, for exactly this reason.
TurboFax works just fine.
What’s a jail boss dad?
A prison worker has admitted having an affair with an inmate behind bars.
Mother-of-two Jessica Jade Elguindy, 25, was supported by her husband Mitch and jail boss dad on Wednesday as she faced Penrith Local Court.
She pleaded guilty to engaging in an intimate relationship with an inmate, accessing restricted data and misconducting herself as a holder of public office.
hat tip, the schools still have fax machines.
As opposed to … just allowing someone to take a photo of the document in the insurance company’s mobile app? Or, skipping even more steps, how about just making the form available to be filled out in that mobile app, eliminating the need to download and print a document template?
hat tip, the schools still have fax machines.
Why doesn’t that surprise me? Is it next to the mimeograph machine?
A’murica isn’t interested in the “threat” this “supposedly” is. What it wants is the algorithm.
Seems like A’ murica doesn’t like competition for it’s social media, nor it’s cars, solar panels, or anything else.
When you can’t beat them by doing better with your own people, who would rather steal your catalytic converters,( so called bad ones) or shoot your blind and deaf 13 year old fluff dog (so called good ones), this is what you do. Hehe.
The video app, owned by a Chinese company, said it would let federal officials pick its U.S. operation’s board of directors, would give the government veto power over each new hire and would pay an American company that contracts with the Defense Department to monitor its source code, according to a copy of the company’s proposal. It even offered to give federal officials a kill switch that would shut the app down in the United States if they felt it remained a threat.
The Biden administration, however, went its own way. Officials declined the proposal, forfeiting potential influence over one of the world’s most popular apps in favor of a blunter option: a forced-sale law signed last month by President Biden that could lead to TikTok’s nationwide ban.
(In a statement “He feared for his life. Hehe.)
STURGEON — The mayor of Sturgeon has resigned after a city police officer shot and killed a deaf and blind dog, leading to massive public outcry. Kevin Abrahamson stepped down as mayor, according to a City of Sturgeon Facebook post Saturday.
The resignation comes after a Sturgeon police officer shot a 13-pound Shih Tzu mix last Sunday. The officer was identified as Myron Woodson. An online petition to remove Woodson got more than 36,000 signatures as of Sunday evening.
According to a statement from the city May 20, police received a call about a lost and injured animal. The officer believed the dog was severely injured or had rabies. According to the statement, the officer feared the dog would bite him and felt his only option was to put him down, according to the statement.
I often browse houses around the Hartford CT suburbs, decently priced and taxes not as nauseating as NJ. Is it the distance from NY/NJ that lowers the price? I mean, 100 miles away obviously factors in but what’s your thoughts about the area?
Just ask your congresscritters to help you. It’s a democracy so you are allowed. But they have a choice, help the average guy, or accept a payoff from a connected lobbyist.
Wave your flag. Salute it. Those people you elected are hard at work fighting for your rights. Hehe.
grim says:
May 29, 2024 at 8:23 am
As opposed to … just allowing someone to take a photo of the document in the insurance company’s mobile app? Or, skipping even more steps, how about just making the form available to be filled out in that mobile app, eliminating the need to download and print a document template?
grim says:
May 29, 2024 at 8:28 am
hat tip, the schools still have fax machines.
Why doesn’t that surprise me? Is it next to the mimeograph machine?
hah, I remember back in the early 90s when they worked off a roll, if you just taped a black piece of construction paper into a loop and ran it through the fax, you could cause all kinds of problems.
Karen call doomed the poor puppy. Does Karen even know what “dried blood” even looks like? Maybe watching too many forensic shows? Or did the dog just annoy her?
Someone called the police dispatch and reported an injured dog with mud and dried blood in its fur. The caller did not think the dog was dangerous, according to a city statement.
KOMU 8 obtained body camera footage of the incident Friday. In the footage, Woodson is seen entering the yard as the dog slowly walks around.
After spending roughly three minutes attempting to wrangle the dog into a lasso, Woodson quickly takes out his gun and shoots the dog twice.
The officer proceeds to return to his vehicle and empty out a cooler holding drinks, and puts the dog’s limp body into the container.
I know a guy who right out of college & no experience through connections was thrust in as the #2 in the health department under Corzine. He would even complain about the person above him not knowing anything. Apparently, she was just the wife of some dude who owned dozens of Dunkin Donuts who made a heavy contribution. When Christie came in, they tried to move them all around to hide them from getting canned. A lot of them didn’t make it. But Horizon & Aetna were there to give them all high paying jobs instantly.
Speaking of the mimeograph, or why I even remember what the hell it was called. We had one in school, maybe 2nd or 3rd grade. If you were good in art class, the teacher let you run the mimeograph (turn the crank) which was a big deal. Not sure what kind of traumatic brain injury we received from whatever organic solvents were used in that process, but they couldn’t have been so bad, I mean, I distinctly remember the tag on the machine. That tasteful purple ink, the enticing aroma, nothing was better than a worksheet fresh off the rollers. Ditto…
Wow…
Mike S says:
May 28, 2024 at 3:11 pm
Housing market alive and well in Essex co..
https://www.zillow.com/homedetails/5-Randolph-Pl-Verona-NJ-07044/38735275_zpid/
Methanol smells similar to ethanol, a product you produce and sell today. Your traumatic brain injury turned into a spirits fetish.
grim says:
May 29, 2024 at 8:47 am
The ink used in spirit duplicators contained methanol and isopropanol, which emitted a pleasant fragrance.
Not sure what kind of traumatic brain injury we received from whatever organic solvents were used in that process
Mimeograph or ditto machines. I still remember the smell of the damp paper and the heliotrope ink.
Principal : Mrs Jones, have you been drinking?
Teacher: No, it’s not my breath, it’s the mimeograph machine. Can I go now, I have a remedial afterschool class with the football captain. I have time tonight because my husband is working late.
Hehe.
I can appreciate that insight
This house looks horrible. And it’s shoved in the middle of cape cods which makes it even worse. Check out the street view. The sellers need to be publicly humiliated and the designers of this thing need to be slapped repeatedly:
https://www.trulia.com/home/12-31-roosevelt-pl-1x-fair-lawn-nj-07410-37900360
Again….this is no different than beating up DNA.
Look at the market conditions over the past 2.5 years. What stocks are really doing well? It’s a slim minority of stocks driving it all. It’s all “safe profitable companies” staying with inflation…and the only growth is in AI driven bubble stocks. Almost all the gains in the stock market have come from AI stocks and investment, while the rest of the stock market has been absolutely chit. Look at the growth of all small cap stocks….they have been destroyed. Aka no investment in small low profit/no profit companies…they have just been trying to survive in this ugly environment.
Smart individuals will sell all their AI bubble stocks….and either wait patiently to buy into these beat up stocks, or just DCA into it starting now….and just patiently wait for the cycle to play out and the stock market lemmings to return to these hated unprofitable growth stocks again driving them back up….then you sell to these lemmings and go buy up the AI bubble stocks that they will hate after getting burned when it pops.
May 28, 2024 at 11:50 pm
In other news: https://markets.businessinsider.com/news/funds/cathie-wood-ark-invest-wealth-destroyed-tech-stocks-morningstar-arkk-2024-2#:~:text=Bello/Getty%20Images-,Cathie%20Wood%27s%20Ark%20Invest%20has
That’s what is messed up with whoever wrote this article….they know the truth. Yet, they can’t help themselves and attack ark for their investment strategy when it is not en vogue at the moment. Like a little baby that only cares about the now aka short term. Then you wonder why most people don’t make money…
“But in an investment world that is shifting to valuing profits over growth, it is unclear when Ark Invest’s investment strategy might pay off again for investors.”
$160,000 down, $5,400 in PITI monthly payment for this one. Good Lord, I’d be apoplectic. I’ve said it recently, house ownership is now a luxury.
https://www.trulia.com/home/39-22-vanore-dr-fair-lawn-nj-07410-37894201
Vinyl siding installed at a diagonal should be an immediate red flag that any and all construction was done improperly.
We called them “Rexograph” machines back in the day
Stick to your strategy. Jumping around each year chasing different strategies is a recipe for pain. That’s why I still have respect for ark….they have not deviated from said LONG-TERM strategy. Aka they are not trying to time the market. They are playing their game and sticking to it.
There is luck in investing too. Maybe the fed f/ks up our economy and causes stagflation into next decade. Then ark is dead. That’s how it goes. Sometimes the market does irrational chit for longer than you think….no one said investing is always easy.
Good luck….
Fast Eddie says:
May 29, 2024 at 9:17 am
$160,000 down, $5,400 in PITI monthly payment for this one. Good Lord, I’d be apoplectic. I’ve said it recently, house ownership is now a luxury.
https://www.trulia.com/home/39-22-vanore-dr-fair-lawn-nj-07410-37894201
Even worse, there are little to no soffits, and the direction of the vinyl siding is going to channel nearly all of the water that hits the front of the house towards the inside corners of the entryway.
If it’s not already completely rotted out underneath, it will be.
Elomentry skool memaries:
https://tinyurl.com/4eu6xke2
Regarding South park, wife and I went to the infamous College of Insurance, 30 years with Pru/Met healthcare etc, wife worked on various claims systems, actually comes in handy when following on claims.
Hint: Always indicate that you will and do file complaint with State Insurance Commissioner, know the name. Only claims expediated are those that came through as in that pile.
Stick to your strategy. Jumping around each year chasing different strategies is a recipe for pain. That’s why I still have respect for ark….they have not deviated from said LONG-TERM strategy. Aka they are not trying to time the market. They are playing their game and sticking to it.
What, no comparison to Warren Buffett here? You are trying to portray ARK as a long term value investor, buy and hold…
$600,000 effing dollars. Mom is going to live with one of the kids now. Just wow on these prices… holy shit.
https://www.trulia.com/home/26-14-southern-dr-1x-fair-lawn-nj-07410-37897879
“The Mass is ended, go in peace to love and serve the Lord”, and the congregation responds, “Thanks be to God”.
WP headline today.
Now that’s a surprise. /s
For decades, Catholic priests, brothers and sisters raped or molested Native American children who were taken from their homes by the U.S. government and forced to live at remote boarding schools, a Post investigation found.
Clarita Vargas was 8 when she was forced to live at St. Mary’s Mission, a Catholic-run Indian boarding school in Omak, Wash., that was created under a U.S. government policy to strip Native American children of their identities. A priest took her and other girls to his office to watch a TV movie, then groped and fondled her as she sat on his lap — the beginning of three years of sexual abuse, she said.
Some maga guys were fraudulently trying to sell Graceland. Elvis granddaughter stepped in to stop it. She’s a very good actress.
Sometimes the system works.
grim says:
May 29, 2024 at 6:42 am
On South Park:
They touched on one very important strategy in that clip. The requirement to fax back completed documents.
Fast: And the buyers may cry at some point, and claim they did not the house was not worth that kind of money, and now they need to have their loan modification, mortgage forgiveness, stay in house for 5 years with no payments.
I think ‘Very Stable Genius’ is Robert Di Nero.
3b,
Prestige has a price. Your friends don’t need to know you’re bankrupt. All that matters is that you sense envy when you show them the granite countertop and backsplash. This is North Jersey, perception is reality.
Welcome to this exquisite custom-built, fully renovated, Colonial-style dwelling nestled in 1 of the most desirable neighborhoods in North Jersey! This home welcomes you to a stunning open front porch, inviting u to treat yourself to some outdoor relaxation.
There’s a number of reasons why I wouldn’t buy this house, but when you use Gen Z verbiage, it’s an automatic out. I won’t even go into the possible shortcuts squeezed on a 50 x 100 lot but the description alone “sold” the deal for me.
https://www.trulia.com/home/7-14-henderson-blvd-fair-lawn-nj-07410-37902487
Oh, and you’re a few blocks away from Paterson. The house itself is on a busy, dash-lined street so the flippers can ride this one into reality.
You don’t hold forever….long-term hold based on the cycles. Right now, you build your position when it is hated. Then when the cycle switches, you unload your position. That’s why buffett would never recommend this strategy to the avg joe….because they are clueless about cycles and the economy. For example, look at them drive up the housing market on fomo….you think good real estate investors are driving this up now? Anyone that understands markets (real investors) will not buy right now. They will not buy at peak pricing after a run up, esp when it is combined with high borrowing rates.
grim says:
May 29, 2024 at 9:34 am
Stick to your strategy. Jumping around each year chasing different strategies is a recipe for pain. That’s why I still have respect for ark….they have not deviated from said LONG-TERM strategy. Aka they are not trying to time the market. They are playing their game and sticking to it.
What, no comparison to Warren Buffett here? You are trying to portray ARK as a long term value investor, buy and hold…
WTF am I looking at?
https://www.trulia.com/home/1-plaza-rd-28-fair-lawn-nj-07410-2053525067
Trump is getting convicted, and the result is going to be one giant nothing burger. Patiently waiting to hear him convicted on some subset of inconsequential charges, sentenced to 6 months probation (with special benefits) and community service, yet goes for appeal. Still runs for president.
600k, subject to bank approval, yeah ok.
And regarding the Trump trial, he’s better off being found guilty because that will secure all the swing states even more and probably net him a few blue states, too.
Fast: Is granite still a thing?
I mean if you buy housing right now….you can’t seriously expect it to appreciate more than inflation now. All the big gains have been made…you missed it. Time to buy was last decade….at the bottom of the cycle. Maybe you have a blowoff top, and it goes up more, but it is dangerous to buy right now. You can’t expect this to keep up. The music is coming to an end…
And just think how cool it will be among the gang-bangers when Trump is in the posse as a convicted felon. He’ll be iconic with much street cred. I can see the tee shirts being printed now!
Friend of the family really needs to be in assisted living, really should be considering dumping their house and running, but not willing to do so.
Firmly suspect they get bled out by the system.
Could easily get $500-600k, sell in a week, as-is. Really wish they would take the money and run. If the market goes south, I suspect the property would take a pretty sizable hit. Buyers right now are basically overlooking every defect. The place is already a gut job, but the deferred maintenance, upkeep, going to start to create some massive issues.
Could very easily afford a rental assisted living facility given pensions, savings, and income generated out of the house sale.
Maybe shouldn’t criticize, I’d probably be the same way?
You need to make a journal to yourself reminding you of every mistake your seniors make and don’t repeat them. Basically my strategy as I’m going to be senile in 20 years.
Probably goes down like that last episode of Bluey.
Which, btw, I believe is squarely written for GenX’ers, and not their kids. Look, plenty of kids shows throw in easter eggs for parents, little innuendo here and there. These motherf*ckers are going straight for the kill, the kids show bits are all just illusion.
Golly Gee. How did I miss this part in. my earlier post?
Elguindy’s former co-worker and best friend Amber Clavell is accused of having an affair with bank robber Mark Kennedy, 27, behind bars and is allegedly pregnant.
Clavell is charged with engaging in an intimate relationship with an inmate, two counts of accessing or modifying restricted data, bringing prohibited drugs into a place of attention and drug supply.
From Lib’s Business Insider post yesterday…
“Cathie Wood’s Ark Invest has destroyed $14 billion in wealth over the past decade. A Morningstar analysis found that Ark Invest topped the list of wealth destroyers among other investment companies. “These funds managed to lose value for shareholders even during a generally bullish market,” Morningstar said.”
Said exactly the same thing with support two years ago almost to the day on here to the village idiot….
https://imgur.com/wFMXB6V
10:58 betcha he loses. He’s terrific at losing. Trump is despised outside of paid rally attendees & brain-dead biker cosplayers.
And all you lil maga fucks can whine about a rigged election.
What does it matter? We hit an unprecedented rise in inflation/rates…..yet, her ark fund is still alive and functioning.
Anyone that bashes her, forgets that she has survived a massive storm in her investment strategy….talking epic storm. All they focus on is how much she lost instead of acknowledging that she survived and is alive.
Like how much bs is this last piece from that article attacking ark….favorable market environment? Wtf is he talking about….this was not a favorable market environment for her investment thesis, it was the complete opposite.
“The biggest value destroyers in the fund industry illustrate that there’s no guarantee of success, even during a generally favorable market environment. They also provide a valuable case study in how not to invest,” Arnott said.
leftwing says:
May 29, 2024 at 11:38 am
From Lib’s Business Insider post yesterday…
“Cathie Wood’s Ark Invest has destroyed $14 billion in wealth over the past decade. A Morningstar analysis found that Ark Invest topped the list of wealth destroyers among other investment companies. “These funds managed to lose value for shareholders even during a generally bullish market,” Morningstar said.”
Said exactly the same thing with support two years ago almost to the day on here to the village idiot….
https://imgur.com/wFMXB6V
Pulled up the trade history for ARK.
At a quick glance, seems like they are selling off winners, holding losers. Some of those long positions are just brutal losses. How is this not just hollowing out their portfolio? Suspect their actual performance will be a LOT worse if the market takes a real turn south – 2-3x the market %.
Fast: Are Gen z buying houses?
The height of ludicrous is Pumpkin posting about investment and interest rates.
Go back and look for anyone interested in engaging his inanity….
Late 2021 he shows on here that he literally had no clue that a rise in rates causes a decline in the value of risk assets.
One of the most simple, well known, basic investment tenets was beyond him…Christ, I thought BRT’s head was going to explode trying to get this fool somewhat educated back then…
Yet here he is now lecturing everyone on rates, cycles, and the rest of his gibberish as some SME in his own mind…
Funny if it weren’t so pathetic.
Is ARKK really just sitting on one profitable position at this point?
Are Gen z buying houses?
Only the privileged ones are buying. Thus, house buying is rac1st.
Wood has no ability to sell losers because in a lot of these small companies, she owns 10% of the company. It would crash the price. So she’s always had to sell the megacaps like TSM or NVDA instead.
This is a post I made in March of 2021 when I used to monitor her trades.
“I saw she sold some Taiwan semiconductor. I guess she doesn’t like skyrocketing revenue in the face of a worldwide shortage.”
There was one point in the 2021/2022 selloff that she was red in 100% of her non Tesla positions
Four more years!! Four more years!! LOLOLOL!!
https://www.msn.com/en-us/news/politics/video-shows-joe-biden-sleeping-during-memorial-day-speech/vi-BB1ncHyY?ocid=entnewsntp&pc=U531&cvid=102003996beb492ab850081101bbf49e&ei=42
For Fast Eddie
https://tinyurl.com/ycx642rt
Fast Eddie says:
May 29, 2024 at 12:16 pm
Four more years!! Four more years!! LOLOLOL!!
Brain dead dolt. Those who pull the strings don’t want a puppet that makes purposeful movements on it’s own.
Life of privilege is beautiful
grim says:
May 29, 2024 at 10:47 am
Trump is getting convicted, and the result is going to be one giant nothing burger. Patiently waiting to hear him convicted on some subset of inconsequential charges, sentenced to 6 months probation (with special benefits) and community service, yet goes for appeal. Still runs for president.
I didn’t think rates would do what they did….how many people did? Get real. I made a mistake. I was wrong. You see how that works….you could never acknowledge that you made a mistake or were wrong….because you are perfect.
Since you knew rates would go off like this….how much did you make off it?
leftwing says:
May 29, 2024 at 12:01 pm
The height of ludicrous is Pumpkin posting about investment and interest rates.
Go back and look for anyone interested in engaging his inanity….
Late 2021 he shows on here that he literally had no clue that a rise in rates causes a decline in the value of risk assets.
For you bargain hunters out there that need a hatchet:
20 bucks at Target. Fiskars. Good quality. Must purchase online. Might come in handy with all of the summer storms or camping.
https://www.target.com/p/fiskars-375501-1001-14-34-hatchet/-/A-52860346
Look, I own a Tesla, I think it’s great, love it. Would buy another one, for sure.
But Tesla is the bastard stepchild of the american auto industry. For as patriotic as the auto industry has historically been, the fact that Tesla is not celebrated as the greatest American automaker is insane to me. Tesla is more American than Ford. Tesla is more American than Chevy. They are the only auto maker making 100% of their US-sold cars domestically.
This is telling to me. Politicians will not protect Tesla. Trade groups will not protect Tesla.
Literally laughed out loud the other day when I saw a Dodge Ram duallie pickup parked across two Tesla supercharger spots in an empty parking lot. The f*kcing thing is made in Mexico. Even the F150, Silverado, etc – maybe they are assembled here, but a huge majority of parts comes are imported.
Tesla is not a darling that the US has any thoughts of nurturing.
Hell, Trump is now mouthing off about banning electric cars?
Yeah, I’m not putting any money into Tesla. Not unless they start airing commercials of teslas compleat with horses, cowboys, flags .. no flags iwo jima style, and politicians, from both sides, start campaigning on the front lawn of tesla claiming that american manufacturing is back.
It’s all over for Tesla when Ford (or similar), signs a deal with BYD, which will happen.
Pumps,
You were right about housing, either luck or skill? IDK.
But you have to lay out the cash, or have the leverage to score.
You gotta pay to play!
DNA 55 cents.
I rate this false. How much government cash did you get off on your Tesla? It’s a fucccin’ handout.
I don’t have a place to charge one, so I had to buy a gas powered vehicle, and got NO HANDOUT tax break.
How much Government Cash (my tax dollars) is going into TESLA infrastructure and their charging stations- yeah, quite a bit.
Oh, and ROAD TAX. You pay that on gasoline. How much you pay this year? Nothing, Nada, Bupkis.
Tesla benefitted from all of this.
Tesla is not a darling that the US has any thoughts of nurturing.
Politicians will not protect Tesla. Trade groups will not protect Tesla.
THOMAS L. FRIEDMAN
How We’ve Lost Our Moorings as a Society
Our society itself has lost so many of its social, normative and political mangroves as well — all those things that used to filter toxic behaviors, buffer political extremism and nurture healthy communities and trusted institutions for young people to grow up in and which hold our society together.
You see, shame used to be a mangrove. It used to be that if you were a candidate for president of the United States and it was alleged — with a lot of evidence — that you falsified business records to cover up sex with a porn star right after your wife had given birth to a child, you would lower your head in shame, drop out of the race and hide under the bed.
Responsibility, especially among those who have taken oaths of office — another vital mangrove — has also experienced serious destruction. It used to be that if you had the incredible privilege of serving as U.S. Supreme Court justice, in your wildest dreams you would never have an American flag hanging upside down (carried that way by hooligans who stormed the Capitol on Jan. 6, 2021) outside your home, let alone your wife sending emails urging senior officials to overturn the 2020 election. Your sense of responsibility to appear above partisan politics to uphold the integrity of the court’s rulings would not allow it.
Carter: Put solar panels on the White House.
Reagan: Rip them panels off and fire the Air Traffic Controllers.
Hehe.
VSG,
America is Saltburn.
Auto industry bailout ala Tarp? What was that, $20 billion?
America has a long history of subsidizing auto manufacturers.
$7,500 off my federal taxes.
Tesla is benefitting from the censorship Tariffs that are keeping me from buying a BYD 15K electric car.
Just like the dolts when they started the Chicken Tax in 1964 making it impossible to buy a small, inexpensive pickup truck. Or the tax on solar panels if you want to charge your electric car.
You ain’t free in America. Not by a long shot.
$7,500 off my federal taxes.
A handout. Like the mortgage tax break, welfare, free phones for the poor, senior citizen tax break, student loan payoff- the list goes on.
In order for anyone to get any of the above, someone else has to work and pay.
Lets not forget the billions we send to Ukraine-yet we drive to New York in tunnels made a hundred years ago.
How can it be luck when I was screaming over and over that the millennial demographic bloc would overwhelm the supply at a time when people thought millennials would rent in the city forever….I seriously stated when it would take place years in advance.
Phoenix says:
May 29, 2024 at 12:49 pm
Pumps,
You were right about housing, either luck or skill? IDK.
But you have to lay out the cash, or have the leverage to score.
You gotta pay to play!
Pumps,
If you were 100% sure, you should have leveraged yourself to the hilt until you couldn’t borrow another cent and buried every dime into real estate.
You would be a king right now. If you were sure that is.
Or not handcuffed to the bed by you wife.
Breaking:
Charges against Scottie Scheffler dropped by Louisville prosecutor.
Maybe, just maybe, an envelope full of cash, or gold bars, mysteriously appeared where someone, a special someone, could find it.
Catholic church better be careful, they may be on the hook for child support payments.
Hehe.
Girls’ periods are starting sooner, more irregular than past generations
Lefty,
I was in the camp that inflation was transitory. I was wrong. I didn’t realize how bad they messed up the supply chain. I still stand by my position that inflation was the result of human nature and a broken supply chain. People weren’t used to price increases and didn’t accept it until they were told over and over that it was a supply chain issue…then the greed of human nature went to work creating a spiral of rising prices and then rising wages.
I made a big mistake with inflation and it cost me through DNA. I was playing that on the basis that inflation was transitory….I never thought it would get this bad. I thought we would have had a recession and rate cuts by now. I was totally wrong. It happens… Everyone makes mistakes and hopefully learns from them to grow into a stronger individual.
Not my “mangrove” quote, but this is about right:
Friedman ignores the one mangrove that was first destroyed by both liberal and conservative elites that led to all the other mangroves being debilitated as described.
This is the mangrove which required our elected leaders to look after the welfare of the majority of our citizens. Instead, they latched on to the free trade mantra and worked diligently (both Democrats and Republicans) for the welfare of our corporations, damning the citizens’ welfare in the process. Stock markets soared but the trickle down to ordinary peoples’ lives was just that, a trickle. Inequality skyrocketed above levels never seen before. Destruction of this mangrove and the covenant between the elected and the electors set up the extinction of the other mangroves that Friedman laments about.
Life of privilege is beautiful
Phoenix says:
May 29, 2024 at 1:18 pm
Breaking:
Charges against Scottie Scheffler dropped by Louisville prosecutor.
Maybe, just maybe, an envelope full of cash, or gold bars, mysteriously appeared where someone, a special someone, could find it.
She screwed me beyond belief…breaks my heart thinking about it. It is my fault. I should have been a man, and not let my wife control me. Hard to do these days as women are quick to leave for bs reasons. So, you have to do what they want or they will leave.
Phoenix says:
May 29, 2024 at 1:15 pm
Pumps,
If you were 100% sure, you should have leveraged yourself to the hilt until you couldn’t borrow another cent and buried every dime into real estate.
You would be a king right now. If you were sure that is.
Or not handcuffed to the bed by you wife.
You see, shame used to be a mangrove. It used to be that if you were a candidate for president of the United States and it was alleged — with a lot of evidence — that you
falsified business records to cover up sex with a porn star right after your wife had given birth to a childlaundered money through your son who acted as an agent for a communist regime and showered with your daughter, you would lower your head in shame, drop out of the race and hide under the bed.Honestly, I am with you. You have to be absolutely insane to get married to someone today. This is not the 1970s when people stayed together through hard times. People are quick to leave and no longer respect the sacrament of marriage. Society is built around the individual now instead of the family nucleus. Social media has fed the individual ego and made everyone hyperfocused on themselves. It’s f’ing sad what has become of society. The only time individuals are focused on others is when they compare themselves to others…that’s it. No one gives a f/k about anyone but themselves now. No wonder so many unhappy people out there…
GP,
Some data for you. It was a gift to the lawyers. I currently know a young girl (20’s) that is going through a nightmare with police, DYFS, Effed up Mother in Law trying to take this young girls kid from her.
It’s all a game. Until its not.
California was the first state to legalize no-fault divorce in 1969, when Governor Ronald Reagan signed the Family Law Act.
It’s another hoax Eddie. It means nothing except our civilization is finished. The third world Revolution is complete.
Phoenix,
My sister’s best friend was just blindsided by her husband wanting a divorce (they have one daughter). She is a beautiful girl too. I thought she was too good for him to be honest. Well, he just screwed her. Said he is not sure he is in love anymore. Aka my money is on cheating. Most people don’t leave unless they have someone there.
Anyway, this is an example of how selfish people are today. I never saw this coming. A week before he told her, he was at my nephew’s communion acting like everything was perfectly normal. What a pos. People are so f/ed up these days….Wow…
Hope she is strong and able to survive this….won’t be easy.
I bet he’s maga
The Great Pumpkin says:
May 29, 2024 at 2:20 pm
Phoenix,
My sister’s best friend was just blindsided by her husband wanting a divorce (they have one daughter).
I bet you’re third world.
You got it wrong, he wanted to tap into the home equity at sub 3% and buy stocks, specific ones like ARKG and DNA.
TraitorJoe,
I tagged the Obammy administration as the point when history will identify the beginning of the fall. Rome had a 1200 year run, we had a 250 year run. The lace curtain aristocracy disguised as meaningful and compassionate progressives have duped the muppets with a baited hook. We’re entering stage 8 of Tyler’s theorem.
Unfortunately for some shareholders, the Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) share price has dived 27% in the last thirty days, prolonging recent pain. For any long-term shareholders, the last month ends a year to forget by locking in a 64% share price decline.
Although its price has dipped substantially, when almost half of the companies in the United States’ Chemicals industry have price-to-sales ratios (or “P/S”) below 1.5x, you may still consider Ginkgo Bioworks Holdings as a stock not worth researching with its 6.6x P/S ratio. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the highly elevated P/S.
Ginkgo Bioworks Holdings has been struggling lately as its revenue has declined faster than most other companies. Perhaps the market is predicting a change in fortunes for the company and is expecting them to blow past the rest of the industry, elevating the P/S ratio. You’d really hope so, otherwise you’re paying a pretty hefty price for no particular reason.
Ginkgo Bioworks Holdings’ P/S ratio would be typical for a company that’s expected to deliver very strong growth, and importantly, perform much better than the industry.
In reviewing the last year of financials, we were disheartened to see the company’s revenues fell to the tune of 46%. Still, the latest three year period has seen an excellent 109% overall rise in revenue, in spite of its unsatisfying short-term performance. Accordingly, while they would have preferred to keep the run going, shareholders would definitely welcome the medium-term rates of revenue growth.
Turning to the outlook, the next three years should generate growth of 24% per annum as estimated by the seven analysts watching the company. Meanwhile, the rest of the industry is forecast to only expand by 8.8% per year, which is noticeably less attractive.
With this information, we can see why Ginkgo Bioworks Holdings is trading at such a high P/S compared to the industry. It seems most investors are expecting this strong future growth and are willing to pay more for the stock.
The Final Word
A significant share price dive has done very little to deflate Ginkgo Bioworks Holdings’ very lofty P/S. Using the price-to-sales ratio alone to determine if you should sell your stock isn’t sensible, however it can be a practical guide to the company’s future prospects.
Our look into Ginkgo Bioworks Holdings shows that its P/S ratio remains high on the merit of its strong future revenues. At this stage investors feel the potential for a deterioration in revenues is quite remote, justifying the elevated P/S ratio. Unless these conditions change, they will continue to provide strong support to the share price.
https://stocks.apple.com/AuYRfF92pQ5S9Xl1f4XHFKw
There isn’ta single standard of conduct that they adhered to in their quest for power. They burned cities, facilitated a foreign invasion, imprisoned their opponents, hell they covered up for a criminal whose killed MILLIONS. Yet they carry a banner of righteousness.
That article on DNA came out today. I am not worried about DNA. They will be successful. They are just being punished right now for not being profitable in a high rate environment.
Again, the govt will come in to save them if they become threatened by going bankrupt.
Meanwhile in Palestine a U.S. made bomb blew apart 45 civilians including children and the pier we built for $350M washed away. A real crack team of experts are running the show.
Lookup BYD YangWang Emergency mode
Yes it’s called Yang’s Wang,,..
You will never fear crossing a flooded road or underpass in New Jersey again driving one of those trucks. Heck might be able to cross the Hudson River and avoid the Lincoln tunnel traffic.
$1 Trillion in additional debt every 90 days. And I hope all the 50K per year salary workers who vote dem and are paying for those Ivy league fops’ student loans are raising a toast to their own stupidity. How else do you thank your future master from Havard and Yale by bending over and getting rammed up the @ss!
Juice 7:03,
The Babylon Bee is a conservative Christian news satire website that publishes satirical articles on topics including religion, politics, current events, and public figures. It has been referred to as a Christian or conservative version of The Onion.
“Justice Samuel A. Alito Jr. declined on Wednesday to recuse himself from two cases arising from the Jan. 6, 2021, attack on the Capitol after reports that flags displayed outside his houses appeared to support the “Stop the Steal” movement.
“Justice Alito said in letters to Democratic members of Congress who had demanded his recusal that the flags, at his home in Virginia and a beach house in New Jersey, were flown by his wife, Martha-Ann.
“My wife is fond of flying flags,” the justice wrote. “I am not. She was solely responsible for having flagpoles put up at our residence and our vacation home and has flown a wide variety of flags over the years.”
MAGA can’t commit a crime. It’s in their charter.
Nvda closing at $1,150
Amazing!
This is the bottom line. You are prob buying the absolute bottom here. 800 million in cash…no debt. They have survived this downturn in biotech…should start improving.
“Our look into Ginkgo Bioworks Holdings shows that its P/S ratio remains high on the merit of its strong future revenues. At this stage investors feel the potential for a deterioration in revenues is quite remote, justifying the elevated P/S ratio. Unless these conditions change, they will continue to provide strong support to the share price.”
Sucks, I would love to get in at these prices, but have to go for the upside in crypto with bonk. Just waiting for the pump..
I would suggest a scratch-off from the NJ State Lottery. The commercial says you could win for life.
Lib,
I’ll give you the other side – it’s a struggling business that just changed its business strategy, analysts are worried, and no one’s made money to date.
I believe they will win…it’s a high risk investment. No high risk investment is going to be some picture perfect investment…
My son has his first professional job where he will make some real scratch. He plans to invest 2K this Summer and will put away $100 a month every month going forward. That will likely add up to 1.5 million when he’s 60. That’s 2 Chipotle burritos a week.
SomeOne . I only get my satire from MSNBC.
Did any real news actually Report on the jury instructions before they were even issued? Now that would be funny.
Good thing Cathy bought more UIPath.
Though, she should have waited until AFTER they cratered 30% today.
Grim on a roll today, but really now shooting fish in the barrel? Even I would not stoop that low.
Trump jury still out, maybe tommorrow.
Is this the most watched Trial since OJ????
BRT – re: “#2 in the health department under Corzine.”
Not quite as high but my brother was made a “director” of some kind of services. I won’t say where but lets review his resume? Previous experience? Bartending, failed Wall St career but heck more importantly campaign volunteer.
Copper again….more expensive it gets.
https://finance.yahoo.com/news/thieves-stealing-copper-ev-charging-111100527.html
Hehe:
The Supreme Court justice is defending a woman’s freedom to make her own decisions without the influence of a man.
The little woman wears “the flags” in that family.
So clear that **** whipped Clarence & Alito believe their wives have freedom…
But only their wives ….As they take Healthcare Freedom and the Freedom of Personal Choice…
From Every Woman in America.
Mr Miu’s was interesting.
JUice Box says:
May 29, 2024 at 7:23 pm
Grim on a roll today, but really now shooting fish in the barrel? Even I would not stoop that low.
Trump jury still out, maybe tommorrow.
Is this the most watched Trial since OJ????
Now that is white privilege.
Scottie Scheffler all charges dropped and he got an apology letter from the cop.
Keep suing them until their parishioners are unable to fill the basket full enough to keep them afloat.
The Jesuits agreed to pay $166 million in 2011 to about 500 survivors as part of a bankruptcy settlement. It is the fourth-largest sexual abuse settlement by Catholic entities to date, according to Terence McKiernan, founder of BishopAccountability.org, a watchdog group that tracks sexual abuse by members of the Catholic Church. Survivors received on average $332,000 each, depending on the severity of abuse, said their lawyers.
‘murica.
Best Justice money can buy. A black man would have received a skull fracture, two bullet wounds, and a bill for a broken nightstick.
Hehe.
Juice Box says:
May 29, 2024 at 8:51 pm
Now that is white privilege.
Scottie Scheffler all charges dropped and he got an apology letter from the cop.
Hey if two survivors of the Catholic church buggering mob get together they might be able to afford a Cape Cod in Clifton, NJ.
Hehe.
Stick to buying shoes lady. Where TF are you supposed to put it? Incredibly easy? Maybe they should shove it up your azz- might be harder to get it from there, huh.
F’n Prius is 3 inches from the ground. Ain’t easy to change the oil on that thing.
Get back in the kitchen and make me a sammmich. Hehe.
“In this case, I think one of the things that infuriates me is that we have a company — whatever, Toyota — who makes the Prius, that essentially has a device on their cars which is super easy to remove. It’s basically the value of a MacBook, right?” said Raman.
“That is put in a place that is incredibly easy to access in your car, and the thefts related to this issue have essentially — all of the costs of that — are given to us to bear instead of them [Toyota] having to manufacture a car that actually is not so easy to be stolen.”
Forgot to mention
record-breaking temperatures…
My team in India 51 c today…123 folks….my coworker there said only a few tears ago the6 used to freak out about 41 c ….about 106 F..
Tell the Bangalore Boys Maga Trump says you are just imagining it, give them some crayons to color a mural, some pet rocks, and some puppy therapy.
They will forget all about the heat. Hehe.
Juice box says:
May 29, 2024 at 9:45 pm
Forgot to mention
record-breaking temperatures…
My team in India 51 c today…123 folks….my coworker there said only a few tears ago the6 used to freak out about 41 c ….about 106 F..
American young women. And men.
https://www.reddit.com/r/PublicFreakout/comments/1d3nhsn/streamers_dare_a_homeless_woman_to_jump_into_a/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button
WTF! Are blue city politicians competing who can destroy their city the fastest? A race to the bottom?
https://www.dailymail.co.uk/news/article-13474059/Bostons-Democrat-mayor-Michelle-Wu-criminals-not-prosecuted.html
S0 today was a fun day. A few weeks back I put one of my books up on Amazon, and today I got my first royalty check. Its not a lot of money, I can supersize my next McDs, but hey, I’ll take it. It gives me incentive to finish the other books and get them up there as well.
But the best thing is that its income that I can show on taxes.
Song for the day.
https://www.youtube.com/watch?v=aksvfLFoKc0&t=7s
Congrats! That’s awesome.
“I didn’t think rates would do what they did….”
That’s not my point, Mr Reading Comprehension….my point was that you did not know that a rise in rates causes a decrease in the value of risk assets…Investing 101.
“Since you knew rates would go off like this….how much did you make off it?”
A literal fuckton. Probably just behind BRT in percentage terms, in nominal terms I don’t know the size of stick that anyone else is swinging….
“Again, the govt will come in to save them if they [DNA] become threatened by going bankrupt.”
LOLOLOLOLOL….for fuck’s sake, how do you even dream this shit up let alone unabashedly say it out loud?
They are one of many, many failing biotech supply/service companies over the decades. Nobody cares. That’s why their shares are worth the price of a shopping cart rental at Aldi’s, genius.