Manufacturing Recessions
― papal hotwife (milo z), Wednesday, 15 June 2022 23:06 (one year ago) link
I was seeing some of those bitcoin ATMs a few years before 2020 and thought it was weird. Many of them would be convenience stores selling a lot of CBT and other assorted 'semi-regulated' chemicals besides tallboys and wraps.
But hey, Lot Lizards and weed dealers gets to be part of the new economy too.
― The Artist formerly known as Earlnash, Thursday, 16 June 2022 00:55 (one year ago) link
Yeah, when darknet markets were booming Bitcoin ATMs were the best way to buy BTC anonymously but you had to pay a premium over Coinbase/etc. assuming you could even find one that was working.
― papal hotwife (milo z), Thursday, 16 June 2022 01:04 (one year ago) link
An astonishing sentence: “Every $100 increase in median rent is associated with a 9 percent increase in the estimated homelessness rate, according to a 2020 report by the U.S. Government Accountability Office.” https://t.co/s6nffeyST8— Brian Goldstone (@brian_goldstone) July 3, 2022
― Legalize Suburban Benches (Raymond Cummings), Thursday, 7 July 2022 01:35 (one year ago) link
calling my broker
New filing for the "God Bless America ETF (YALL)" another addition to the anti-ESG wave. This one tracks US stocks but "screens out cos that have emphasized political activism, social agendas or make public statements about political hot button items unrelated to their business." pic.twitter.com/BMt96ZmuUv— Eric Balchunas (@EricBalchunas) July 12, 2022
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 12 July 2022 18:18 (one year ago) link
this could be spicy https://www.freightwaves.com/news/americas-freight-railroads-are-incredibly-chaotic-right-now
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 14 July 2022 20:25 (one year ago) link
ESG always struck me as bullshit anyway, xp
― longtime caller, first time listener (man alive), Thursday, 14 July 2022 20:49 (one year ago) link
yeah, it kinda frankly is, at least most ESG ETFs I've ever looked at have included massive S&P500 corporations that are very questionable
― Nhex, Thursday, 14 July 2022 21:09 (one year ago) link
this could be spicy https://www.freightwaves.com/news/americas-freight-railroads-are-incredibly-chaotic-right-now🕸
To address low staff, Berkshire Hathaway’s BNSF took one particularly unpopular approach. In February, BNSF began to penalize employees who took time off for fatigue, family emergencies or illness. Union officials said 700 rail crew left as a result of the policy. The $23.3 billion railroader nixed the policy in June.
― Antifa Sandwich Artist (Boring, Maryland), Thursday, 14 July 2022 22:11 (one year ago) link
Last I heard the BNSF workers were still not allowed to strike by a judge, the article doesn't mention it but I guess the order was lifted?
― papal hotwife (milo z), Thursday, 14 July 2022 23:13 (one year ago) link
President Joe Biden is being charged with appointing a “Presidential Emergency Board” to nail down a new contract. If he doesn’t do so by Monday, railroad crews could legally have their first nationwide strike since 1992.
― mookieproof, Thursday, 14 July 2022 23:16 (one year ago) link
https://railfan.com/freight-rail-strike-looms-as-biden-mulls-emergency-board/
WASHINGTON — President Joe Biden established an emergency board on Friday to prevent a nationwide railroad strike on Monday.
The establishment of the board will prevent a strike for at least two months. During that time, the emergency board will come up with non-binding suggestions in hopes of helping the unions and the railroads find common ground. The two sides have been negotiating for three years and earlier this summer the National Mediation Board announced that talks had fallen apart.
― 𝔠𝔞𝔢𝔨 (caek), Friday, 15 July 2022 19:41 (one year ago) link
dumb economic question: Will these Fed interest rate hikes affect my savings account interest rate? Because it's been shit.0% for years it seems like
― Andy the Grasshopper, Wednesday, 27 July 2022 23:05 (one year ago) link
Oh good lord no
― Antifa Sandwich Artist (Boring, Maryland), Wednesday, 27 July 2022 23:11 (one year ago) link
Interest rates on savings accounts do tend to go up with a fed hike, but you may need to shop around to get the highest rates. Highest I’ve seen recently is 1.4% to 1.5%. Today’s rate hike should push them up more.
― Jeff, Wednesday, 27 July 2022 23:13 (one year ago) link
fwiw the best rates have gone from about 0.5 to 1.5% this year. still behind the fed rate, and well behind inflation.
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 27 July 2022 23:16 (one year ago) link
2%! https://www.lendingclub.com/personal-banking/savings
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 27 July 2022 23:17 (one year ago) link
yeah I should probably move that money somewhere but I don't think it's a good time to enter the market via a money market or something
― Andy the Grasshopper, Wednesday, 27 July 2022 23:19 (one year ago) link
i wouldn't do lending club tbh. it's FDIC insured, but they seem like the kind of fintech firm where you might actually need that. point is you can do slightly better than shit%. shit and a bit%, and that will go up tomorrow/next week.
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 27 July 2022 23:29 (one year ago) link
I bonds are paying around 10%.
― brownie, Thursday, 28 July 2022 01:23 (one year ago) link
https://www.vice.com/en/article/qjkbg7/chick-fil-a-is-asking-for-volunteers-to-work-for-5-chicken-sandwiches-per-hour
― Josh in Chicago, Thursday, 28 July 2022 15:33 (one year ago) link
xpost yeah, I Bonds are currently 9.62% which is not half bad
I already have a Treasury Direct account from buying some bonds back in the early oughts... I don't look very often but every time I check, the balance only goes up - which is more that I can say for my depressing 401(k)... maybe I'll drop a couple grand in there and forget about it for another decade
https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm
― Andy the Grasshopper, Thursday, 28 July 2022 17:10 (one year ago) link
Wealthfront just raise the rate on my cash account to 2%. Thanks.
― Jeff, Friday, 29 July 2022 19:11 (one year ago) link
do we have a stonks/wsb thread?
https://www.msn.com/en-us/money/markets/shares-of-a-chinese-tech-firm-are-up-more-than-15000-25-since-its-july-ipo-and-even-the-company-has-no-idea-why/ar-AA10enoq
this shitco ipo'd a couple weeks ago and is now one of the ten most valuable companies on planet earth by market cap.
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 2 August 2022 17:29 (one year ago) link
It's a safe bet that somebody is manipulating the shit out of that stock.
― more difficult than I look (Aimless), Tuesday, 2 August 2022 19:50 (one year ago) link
interesting
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 2 August 2022 19:55 (one year ago) link
it's a meme stock that has a super low float...any attempt by the company to take advantage of the situation by selling a significant block into the demand would probably tank the stock price, unless they did something like an at the market offering like AMC did back when AMC was meme-y
― 龜, Tuesday, 2 August 2022 19:59 (one year ago) link
Market cap is not even that meaningful when less than 10% of a Company’s stock trades. This is basically a penny stock style pump and dump but on a larger scale, maybe using more sophisticated means of manipulation.
― longtime caller, first time listener (man alive), Wednesday, 3 August 2022 18:38 (one year ago) link
Also it’s already way down
― longtime caller, first time listener (man alive), Wednesday, 3 August 2022 18:39 (one year ago) link
There is no recession. In fact, there's apparently an insanely strong recovery. A thread:
Put that recession talk away, and change the subject. A vibecession ain't no recession:July payrolls came in at a huge +528k, and unemployment is down to 3.5%.A whap-bop-a-loopa-a-whap-bam-boo!— Justin Wolfers (@JustinWolfers) August 5, 2022
― but also fuck you (unperson), Friday, 5 August 2022 13:27 (one year ago) link
Oh shit, recession inflation! RIP Biden.
― Josh in Chicago, Friday, 5 August 2022 14:07 (one year ago) link
Oh yeah? If the economy is so great how come I see “Help Wanted” signs everywhere?
― Are U down with the BVM (Boring, Maryland), Friday, 5 August 2022 15:21 (one year ago) link
Jobs don't kill people, people kill jobs
― Malevolent Arugula (Alfred, Lord Sotosyn), Friday, 5 August 2022 15:22 (one year ago) link
before
This is from Fox Business yesterday: Former Trump economic advisers Larry Kudlow and Kevin Hassett dismissed Wall Street expectations of a 250K jobs report for July, insisting in this recession it would be “closer to 100 … way on the downside.”Numbers just came out: 528K. pic.twitter.com/CH511twjYr— Eric Kleefeld (@EricKleefeld) August 5, 2022
Here’s @ABC NEWS …accidentally releasing a pre written jobs report story with “XYZ” filling in for the coming numbers.. read the text… it is Amazingly wrong. pic.twitter.com/mROXiGB9if— Hal Sparks (@HalSparks) August 5, 2022
after
July’s job’s report defied expectations of an economic slowdown, will make it harder for the Fed to dial back the brisk pace of rate increases and suggests a period of “higher for longer” rates is becoming more likely https://t.co/Yc7ljPFWur— Nick Timiraos (@NickTimiraos) August 5, 2022
― 𝔠𝔞𝔢𝔨 (caek), Friday, 5 August 2022 18:06 (one year ago) link
before: "there's a recession"after: "there's not a recession but there's a democrat in the whitehouse so we better induce one"
― 𝔠𝔞𝔢𝔨 (caek), Friday, 5 August 2022 18:07 (one year ago) link
Note Biden labeled as "Biden":
my read of the current economic situation and why the corporate media reports strong job reports as bad news: pic.twitter.com/ilrK4D4wbo— Michael Tae Sweeney (@mtsw) August 5, 2022
― but also fuck you (unperson), Friday, 5 August 2022 18:27 (one year ago) link
I really do feel like the newspapers are in a cycle of "job growth is bad, unless there's not job growth, in which case lack of job growth is bad"
― Guayaquil (eephus!), Saturday, 6 August 2022 02:18 (one year ago) link
As I learned long ago from H. L. Mencken, newspaper editors view their job in regard to any events having a political dimension as either to 'point with alarm' or 'view with satisfaction'. On the whole, I find that 'point with alarm' outpaces 'view with satisfaction' at about a 10:1 ratio.
― more difficult than I look (Aimless), Saturday, 6 August 2022 03:36 (one year ago) link
oof!
(except $TWTR haha)
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 13 September 2022 17:52 (one year ago) link
looks like the rail strike discussed above is ... picking up steam again
Might be happening!
I had the same thought today. Hoping we are both wrong. Are you keeping notes for a sequel to your book? https://t.co/s4ftPFKP92— David Wessel (@davidmwessel) September 24, 2022
― The self-titled drags (Eazy), Saturday, 24 September 2022 02:31 (one year ago) link
lot of rumors that credit suisse might be going under this week
― 𝔠𝔞𝔢𝔨 (caek), Saturday, 1 October 2022 23:00 (one year ago) link
Traditionally October is the scariest month in financial markets.
― more difficult than I look (Aimless), Sunday, 2 October 2022 00:46 (one year ago) link
Hedge funds:
https://i.kym-cdn.com/photos/images/newsfeed/000/427/549/b9d.gif
― Ned Raggett, Sunday, 2 October 2022 00:47 (one year ago) link
Or rather!
― Ned Raggett, Sunday, 2 October 2022 00:48 (one year ago) link
This is pretty fascinating. People who bought GameStop for fun have now developed a whole economic belief system around it.
I've been digging into the communities surrounding meme stocks and, like, it's weird man. Somehow a short squeeze opportunity back in 2020 has mutated into a straight up apocalypse cult trying to trigger the end of the world.— Dan Olson (@FoldableHuman) October 10, 2022
― a man often referred to in the news media as the Duke of Saxony (tipsy mothra), Tuesday, 11 October 2022 16:28 (one year ago) link
just feels like this has a Lehman Bros in 2007 flavor to it, idk. Monitoring.
― longtime caller, first time listener (man alive), Wednesday, 10 March 2021 06:54 (one year ago) link
The second biggest position in the Greenhill-backed Credit Suisse funds is a "smart window" company called View that's also a SoftBank company (surprise!). It just went public a couple days ago via a SPAC.
― longtime caller, first time listener (man alive), Wednesday, 10 March 2021 07:00 (one year ago) link
― longtime caller, first time listener (man alive), Tuesday, 11 October 2022 16:53 (one year ago) link
Course that was before the Archegos thing also blew up
(smart window company not really significant, just for context that it was CS-related)
― longtime caller, first time listener (man alive), Tuesday, 11 October 2022 16:58 (one year ago) link
this thread has been calling the next financial crisis as just around the corner for over a decade. one day it will be right
― flopson, Tuesday, 11 October 2022 17:47 (one year ago) link