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
it’s here
― Tracer Hand, Tuesday, 11 October 2022 19:05 (one year ago) link
wanna put some money on it?
― flopson, Tuesday, 11 October 2022 19:38 (one year ago) link
Can I pay in Damian Hirst NFTs?
― a man often referred to in the news media as the Duke of Saxony (tipsy mothra), Tuesday, 11 October 2022 19:39 (one year ago) link
pay me in broken clocks ;)
― flopson, Tuesday, 11 October 2022 19:47 (one year ago) link
Do you think the fed is slowing things down too much? That seems like the proximate danger at this point (along with whatever the fuck the uk does to the bond market)
As LA goes, the rest of the country follows. The LA trucking market is a leading indicator of activity across the rest of the US, providing a 2+ week advanced look at the rest of the market. Vols out of LA have now dipped below 19 levels (note: this is “peak” season). pic.twitter.com/gAUV2e6cLU— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) October 11, 2022
Housing market seizing up because no one can afford to buy, and no one in their right mind would sell, also seems bad.
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 11 October 2022 22:28 (one year ago) link
my stepmom was telling me that when she & her first husband bought their first house (late 60's?), the interest rates were like 15-18% for everybody
Of course, houses were $50K, but interest is interest
― Andy the Grasshopper, Tuesday, 11 October 2022 23:02 (one year ago) link
When my parents bought the house I largely grew up in, in 1980, interest rates were well into the double digits. Maybe 18%.
― Josh in Chicago, Tuesday, 11 October 2022 23:21 (one year ago) link
15% interest hurts a lot less if the loan is 2x your annual salary rather than 20x.
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 11 October 2022 23:47 (one year ago) link
The housing market today is the worst of both worlds - high prices and high rates, and the high rates are not going to rapidly bring prices down, it's just going to crush inventory. If you're locked in at a low rate and you sell, you have to buy at a high price and high rate. There aren't a bunch of resetting ARMs to trigger a price crash like there were in 2008. The only way housing costs truly come down is if there are job losses, which also benefits no one. I don't really get what the fed thinks it's doing, tbh.
― longtime caller, first time listener (man alive), Tuesday, 11 October 2022 23:56 (one year ago) link
When you're a hammer, everything looks like a nail.
― immodesty blaise (jimbeaux), Tuesday, 11 October 2022 23:57 (one year ago) link
this is in a British context but explains why mortgage interest rates now are about the same as the much higher mortgage interest rates back in the 90s, in terms of affordabilityor what caek said
🧵RISING INTEREST RATES ARE A BIGGER DEAL THAN YOU MIGHT THINK🧵This is important (hence the caps).I’m a bit worried people are being WAY too complacent about rising interest rates.They assume that because they’re so low now vs the 1990s, this’ll be a walk in the park.NO.— Ed Conway (@EdConwaySky) September 22, 2022
― Tracer Hand, Wednesday, 12 October 2022 00:27 (one year ago) link
I don't really get what the fed thinks it's doing, tbh.
Congress has been unwilling to employ tax and fiscal policy in a sensible manner for approximately half a century. This leaves monetary policy struggling to do things that monetary policy does very poorly.
― more difficult than I look (Aimless), Wednesday, 12 October 2022 03:28 (one year ago) link
The only way housing costs truly come down is if there are job losses, which also benefits no one. I don't really get what the fed thinks it's doing, tbh.
― longtime caller, first time listener (man alive), Tuesday, October 11, 2022 7:56 PM (yesterday) bookmarkflaglink
the fed isn't trying to get house prices down, it's trying to get inflation down. houses aren't in cpi
house prices are never going down imo
― flopson, Wednesday, 12 October 2022 07:29 (one year ago) link
weren't you arguing a month or two ago that low interest rates were what's driving inequality?
― flopson, Wednesday, 12 October 2022 07:33 (one year ago) link
― more difficult than I look (Aimless), Tuesday, October 11, 2022 11:28 PM (yesterday) bookmarkflaglink
what tax and fiscal policy do you have in mind? most inflation right now is from fuel prices and past fiscal policy. other than miraculously getting sudden abundant cheap energy or austerity, there isn't that much to be done tbh
― flopson, Wednesday, 12 October 2022 07:39 (one year ago) link
most inflation right now is from fuel prices and past fiscal policy
Those past failures are what I was referencing. I wasn't suggesting that half a century of crappy tax policy could be miraculously fixed this month after five decades of mismanagement, rather that monetary policy used as a standalone tool is a very inadequate tool to fix a badly regulated national economy and at times like these it shows.
― more difficult than I look (Aimless), Wednesday, 12 October 2022 15:50 (one year ago) link
U.S. economy grows 2.6% in third quarter, reversing a six-month slump
\_(ツ)_/¯
― Josh in Chicago, Thursday, 27 October 2022 13:11 (one year ago) link
shh people are trying to speak a recession into existence
― comedy khadafi (voodoo chili), Thursday, 27 October 2022 13:13 (one year ago) link
Perfect case study of how “Everyone feels like a genius in a bull market” pic.twitter.com/MNCVwr8hRZ— Nick Maggiulli (@dollarsanddata) December 28, 2022
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 28 December 2022 16:14 (one year ago) link
he seems nice
― “Cheeky cheeky!” she trills, nearly demolishing a roadside post (forksclovetofu), Wednesday, 28 December 2022 17:03 (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, October 11, 2022 1:47 PM (two months ago) bookmarkflaglinkit’s here― Tracer Hand, Tuesday, October 11, 2022 3:05 PM (two months ago) bookmarkflaglinktwo months pass...
― flopson, Tuesday, October 11, 2022 1:47 PM (two months ago) bookmarkflaglink
― Tracer Hand, Tuesday, October 11, 2022 3:05 PM (two months ago) bookmarkflaglink
two months pass...
― flopson, Thursday, 29 December 2022 03:29 (one year ago) link
Maybe we're a lobster who only slowly realizes he's in a shitbin.
― The self-titled drags (Eazy), Thursday, 29 December 2022 03:34 (one year ago) link
yeah i mean we’re not doing so bad, exxonmobil and chevron will make an estimated 100bn in profit between them for instance
― Tracer Hand, Monday, 2 January 2023 16:10 (one year ago) link
This ghoul
Larry Summers reclining on a tropical island and instructing the proles that "there's going to need to be increases in unemployment to contain inflation" ☠️pic.twitter.com/t1ONYePsUZ— David Adler (@davidrkadler) January 6, 2023
― a man often referred to in the news media as the Duke of Saxony (tipsy mothra), Friday, 6 January 2023 21:51 (one year ago) link