Here are some weekend Tweets worth discussing on a wide variety of subjects.
Biden Cancels Oil Refilling
Debit Cards for Migrants
Record Low Births in Italy
One Million Debt Simulations
Flawed Assumptions
Carbon Tax in Canada
Coming soon to the US if Biden has a say.
Biden Seeks to Make Homes Affordable
Market Concentration
End Wokeness
EVs in China
Young Cowgirls
To end on a good note, watch this video.
If Biden Loses the Election, What Will Be the Top Reason?
In case you missed it, my weekend political post is If Biden Loses the Election, What Will Be the Top Reason?
– Oil can only go up, as the cheapest and most widely available and utilized form of energy. It powers a massive chunk of people’s lives in the unseen areas of the World around us.
– EV’s are irrelevant at this point. Besides reducing a very large, well paid, well organized, healthcare paid for, contracts until they are up again, swath of people. They are far too expensive with no material benefit to the environment, and in fact cause damage (seen and unseen) to the environment.
– Cowgirl Kids looks like “Free Range” Parents with money, having some dangerous fun.
– US Debt, is worth much less than we are being told. Once a lot starts getting paid back (various forms), and not nearly as much being demanded, we will start to see and realize what inflation has done to America and it’s Citizens.
– Birth Rates need to come down for a bit longer, to more align with the need for more population than will be needed. Baby boomers will not be replaced with even close to the population explosion they were involved in. We will not need the level of all sorts of services, slowly at first and then all at once.
Mish, as a retiree, won’t like this comment — but that doesn’t make it wrong.
Grandma Yellen, Grandpa McConnel, Grandpa Schumer, Grandpa Biden… no one over 70 should be allowed to vote on debt issuance. These people are never going to repay anything, and its ridiculous to claim otherwise.
Its impossible to take any of this crap seriously. A bunch of octogenarians issuing debt they won’t be around to repay. Please stop encouraging this fraud.
https://www.argusmedia.com/pages/NewsBody.aspx?frame=yes&id=2555513&menu=yes
Drilling permits down 33%.
It all has an “Alice in Wonderland” feel now. We cut the crime rate in half in the 80s by doubling sentences and doubling prison beds. Now the Judical system doesn’t believe in jails. We spend billions in Ukraine (where the Bidens made millions) but don’t protect our own borders. We run unsustainable deficits because deficits don’t matter to the mathematically inpaired.
88% of one million computer models show that the US debt trajectory is on an unsustainable path. Solution: use as guidance one of the 12% models that don’t!
Half of the posts above would be addressed if we stopped giving 0% money to the wealthy and their private equity funds to buy up everything in sight for free. I also think Italy had less than 379,000 births in 1862
Half of the posts above would be addressed if we got rid of the central bank. FIFY. 😉
“Today’s mkt cap concentration in the top 10% largest US stocks has only occurred one other time in history in 1929…”
Seems as if we are about to break the 1929 record. Doing so would fit in well with all the numerous other records broken since the 2020 lockdowns. What’s the term, go for broke? Interest on the federal debt keeps hitting new records.
“A thug with 7 prior arrests punched a lady directly in the face last week in Brooklyn. The man fractured her face, permanently damaged her lip, and knocked out teeth. He was released without bail.”
Undoubtably there will be a day or reckoning for US debt. When that will occur is so unknown. Look at Japan with even worse debt to GDP as we have but their financing costs are lower. The trillion dollar question is when does the SHTF here and HOW can the individual investor be best positioned financially when the chickens come home to roost. I have read that in past instances of excess inflation stocks preform best as a store of value, not sure I buy this though. Maybe true if interest rates are suppressed by the fed. I have read very little anywhere on what the end scenarios are and how to protect your money. Land, RE, gold???
“Bloomberg Economics ran a million forecast simulations. Results for 88% of them show borrowing on an unsustainable path.”
100% of simulations show 1+1=2.
“100% of simulations show 1+1=2.”
Not if done by anyone straight up stupid enough to work on”Wall Street.” Nor by anyone dumb enough to have been handed any of America’s once-were wealth by Fed redistribution since 1971.
The mere fact that anyone so singularly retarded that he believes making up arbitrary “models” by the millions has ANY bearing on economic reality; can even afford a computer, is exactly why America is a much,much worse governed country than if policy was simply formed by blindly referring to the Koran.
The latter is probably sub optimal as well. But it’s one heck of a lot less so, than anything involving a million computer models arbitrarily made up by idiots enriched by Fed transfers and nothing whatsoever else.
It doesn’t take a million simulations to determine if an individual will default. Debt to GDP ratio is a reliable statistic. Interest payments as a percent of budget is another.
New York City is even more or a sh-thole than portrayed by the Charles Bronson movies 50 years ago.
And the only solution is still the one chosen by Bronson. Not more government pretending to do something while just stealing more of people’s money and freedoms (as if there was any left to steal in a city plenty less free than Pyongyangby now …)
Hey all you bitcoin maximalist! Guess you’re not as safe from government confiscation as you thought.
https://www.rt.com/business/595574-south-korea-seizes-crypto-tax-evaders/
Hopefully Max Kaiser kept some of his Ag.
Read the snippets one can only conclude that our government hates us.
The $10K tax credit for selling a starter home is interesting. It won’t make much of a dent in the added payments with a 7% mortgage. Why don’t they provide a 6 month vacation from capital gains tax for anyone (including a business) selling a home that costs 10% less than the mean home price in an area (using that 10% to identify starter home … gotta have some criteria). I’d sell a home or 2 (or more). No outflow of gov’t funds, and likely lots of homes hit the market. If enough hit the market … could see price drops.
Why don’t they stop considering housing as an “investment” that always has to appreciate?
Remove deductions for interest from the tax code (Fed + state). Remove any capital gains deductions. Remove deductions for improvements. Block corporations from buying homes for investments. And the same for anything else I am forgetting in the tax code that favors homes as an investment.
Do this and the price of homes will plummet and then everyone will be able to afford one.
when I was 10 I was riding my sears 5hp tecumseh go kart in the backyard. When I was 13 we were using dads 3 speed on the column chevy truck to pull my dual engine direct drive race kart to start it and flying thru residential neighborhoods at well over 60mph. That was my version of hoverboards as a kid in the 80s.
I’m so happy the stupid eclipse will happen Monday!
I fail to understand why there is so much excitement over a simple and regular transition of the moon across the sun as it revolves around the Earth. We aren’t back in the BCE era. A serpent is not eating the damn sun!
All this hoopla has to speak to the boredom of most people and their desperation for anything different to break the monotony of their daily lives, no matter how simple minded.
If you had never seen a total eclipse, I could understand why you wouldn’t care but when you have seen one then you understand that a total eclipse of the sun is something special and worth seeing.
Be serious.
Media hype is the main reason this is blowing up in my view. I’ve lived in the path of two near total eclipses. Watched one and thought “meh is that it?”, and didn’t care a bit about the 2nd one.
Others feel differently.
We were in Oregon for the last one. What got me, as we were on the Coast in Newport, is that the SEAGULLS all came streaming in (Thousands) as they were fooled that the sun was setting. That was the most remarkable part. It went FAST, though. Newport stores had bought up SO much local Salmon, that they were GIVING it away the next week. We look a FREEZER full of Fresh Pac Salmon. Hotel cancellations occurred due to news about traffic jams.
Nothingburger. Back to work slaves.
Mish – are you going to photograph this one…?
ESCAPISM it s called; eclipses, concerts , silly songs, sport events etc in order to forget about the increasingly idiotic frustrating nerveracking rat race shithole we wound up in in recent years ….and last but definitey not least , to show how fakely happy we are on fckn facebook and other moronic social media …
The Future of American Sports Isn’t Pretty
Irresponsible legislators and greedy sports leagues have led to a dangerous rise in gambling.
BRENDAN RUBERRY
APR 03, 2024
https://www.persuasion.community/p/the-future-of-american-sports-isnt
which equates to more cheating etc.
The transition of prop bets from occurring during the superbowl to happening all the time during every game is the end of things, IMO. Sports betting and lotteries aren’t entertainment, they are expressions of desperation.
In pre-crash 1929, if you had to be in the stock market, would it have been a good strategy to have only the top 10 market cap outfits?
No, everything went down in price. Holding dollars was the best strategy.
The relaxed hoverboard Dad is thinking: “Isn’t it yesterday these rug rats were struggling just to roll over?”
The Bloomberg paywall or whatever makes it hard to read their code.
Here’s the code for my massive and authoritative simulation of the US government’s borrowing:
Remember, computers are always correct.
Great chart on stocks with market caps approaching 1929 levels.
Big thanks for the little cowgirls zipping around with their hoverboards.I needed a laugh. That is too funny!
Say what you want about Elon Musk, but at least he doesn’t hate humans. He has 11 kids and encourages people to have kids. Contrast that with Bill Gates who would love to see 90% of the human population die. Come to think of it, that explains why libs hate Musk. He doesn’t hate people like they do.
Why is having 11 kids considered a good thing?
Given they are from multiple women … might I suggest he just like fornicating?
And doesn’t give a f789 about the consequences cuz he can afford to put check in the mail every month
I like kids. I like people.
I’ve often wondered how involved Musk actually is in his kid’s lives when he’s running all his businesses and tweeting constantly.
I’d wager it isn’t all that much.
Having children is great provided you are involved in thier lives.
Last I checked broken families haven’t been such a great thing for society. This is especially true for the children involved.
Libs are so concerned about children that they prefer them being cut into pieces in the womb. So empathetic.