Thursday, December 08, 2022

Sunday, November 20, 2022

Birds are departing twitter.. 

New mastodon users



Friday, November 18, 2022

Thursday, November 17, 2022

Notes today: 

  • Sam Bankman-Fried’s bankrupt crypto empire owes its 50 biggest unsecured creditors a total of $3.1 billion, new court papers show, with a pair of customers owed more than $200 million eachThis dude bragged that he never reads a book – a clue perhaps?

  • FTX Bankruptcy, (third-largest, was valued at $32bn) - is worse than anyone imagined. 
  • Software was allegedly used to conceal the misuse of customer funds. 
  • A single, unsecured group email was used to access private keys and sensitive data around the world. 
  • Corporate funds of FTX Group were used to buy homes and other personal items for employees. 
  • Employees of the FTX Group submitted payment requests through an on-line ‘chat’ platform. we do Big Business based onemojis in the chat.

  •  But hey, these dudes where decentralizes and disruptors, not boring financiers.

  • My Crypto definition = pure speculative rubbish,  fundamentally worth ZERO.
  • (The Tulip mania 1634-1637 had more intrinsic value. Tulips are beautiful and some smell very nice)

  • Nassin Nicholas Taleb on Crypto / Bitcoin 

Tuesday, November 15, 2022

Notes today: 

  • Mortgage Rates Could Tank Home Prices by 20%, Fed Study Finds

  • BREAKING: A senior U.S. official states that Russian missiles have crossed into Poland (killing two) - Eagerly awaiting Kremlin explanation-  on purpose or accident?

  • Berkshire Hathaway Inc.’s Charlie Munger, a longtime critic of crypto, called digital currencies a combination of delusion and fraud in the wake of the blowup of exchange FTX. "Partly fraud and partly delusion. That’s a bad combination."

“This is a very, very bad thing," Munger said. "The country did not need a currency that was good for kidnappers.



 

 

 


 

  • JPMorgan Chase & Co.’s asset-management arm entered into a deal to acquire more than $1 billion of single-family rentals, a sign that choppy markets haven’t scared investors away from suburban housing.
  • Invitation Homesa company with a portfolio of some 80,000 homes.

















Saturday, November 12, 2022

 


Quick Overview is up to date


Notes today:
  
  • Iranian parliament voted to impose the death penalty on all protesters in custody as a "hard lesson" for all rebels ...14,000-15,000 have been arrested

  • The UN says that as of November 15th the planet will have 8 billion humans.

  • Seven days ago, he had $16 billion. Today, he has $0. Do we think he’s … crying? I would cry:
  • Cash held by Americans
  • Regarding the above chart it is perhaps worth noting that a 1950 $ is worth $12.73 today - making  the 5 trillion  looking a bit - needy? 

  • Stocks rose  in a buy-the whole thing relief rally after slower-than-projected inflation  growth spurred bets that the Federal Reserve can downshift its aggressive rate-hike path. The S&P 500 climbed 5.5%... 

  • BREAKING: FTX had a “backdoor” built into its accounting software by SBF, which he used to move billions without triggering alerts to other staff, auditors etc - Reuters 
  • (Digital assets were "supposed" to revolutionize finance - well, reality is setting in)..

  • Meanwhile: It looks that the founder of #FTX, Sam Bankman-Fried just landed his private jet in Argentina. 

  • Elon Musk, in his first address to Twitter employees since purchasing the company for $44 billion, said bankruptcy was a possibility. Elon the "brilliant" business man..

  • Something’s up in the silver market. Silver imports into India for the first 10 months of 2022 are now at a record 9100 tons. This, versus some 1030 tons annual world supply. Exchange stocks are dropping.  Perhaps - with all the Crypto BS, could people be realizing that some “hard” assets (a bit more difficult to steal) may not be so bad...














  • The Yen is performing as advertised - so far...


Tuesday, November 08, 2022

Notes today: 

  • Some good news, it seems France and Macron will support a full ban of Deep-Sea Mining. 

  • Inflation in Turkey nearing 100% 

  • Elon Musk in April: "For Twitter to deserve public trust, it must be politically neutral."
  • Elon Musk on Monday: "I recommend voting for a Republican Congress."
  • Tesla stock has dropped more than 15% since Must took over Twitter, while NASDQ is down about 1% - brand damage!
  • Bank of Japan’s Suzuki; “ we must seek an exit from massive fiscal stimulus”..



Monday, October 31, 2022

Sunday, October 30, 2022

Lula’s victory and Amazon deforestation..


How about reforestation?


People are fleeing Musk’s Twitter for Mastodon, but what is it? checking it out

-----------------------------
  • According to @NBCNews’ @anblanx: Police say on the record that Paul Pelosi and his suspected attacker did not know each other prior to the attack. It was a break-in.
  • This directly contradicts conspiracy theories pushed by (and since deleted by) "gullible" Twitter owner Elon Musk.👎👎

Saturday, October 29, 2022

 


Quick Overview is up to date

Notes today:

  • Author of BlackSwan (read it) regarding Twitter/Musk:

Nassim Nicholas Taleb  @nntaleb

Musk paid $44bn for something now worth perhaps ~15 & w/ rates no longer 0, he needs that thing only a few of us still remember called "profits". Not "valuation", but "profits" & "cash flow" (see finance 101). He badly needs the system (still) driven by the minority rule. Sorry.

(AKA - betting on the come - loaded with debt; interest alone will be billions of dollars each year.)

Btw- the second largest  investor in Musk's Twitter appears to be .. Saudi Arabia 👎 Meanwhile, an American citizen has been sentenced to 16 years in prison in Saudi Arabia for "tweeting" critically about the Saudi regime.













  • Poland chose Westinghouse, an American (private) company, to build its first nuclear power plant as the country seeks to burn less coal, cutting air pollution and emissions, and to strengthen its energy security. (Economist)
  • Hundreds of thousands of Russian men have fled the country in the past month to avoid being drafted. (Economist)
  • A report from the International Energy Agency found that war in Ukraine has hastened the world’s transition to renewable energy.👍
  • Todays quote: Star Trek’s Spock says, “It is dangerous to be ill-informed about facts”



Wednesday, October 26, 2022

Notes today:

  • And in March of this year, the average real wealth of the American middle class—including home equity and other physical assets as well as retirement and other savings—peaked at $393,300, the highest it’s ever been, according to data assembled by economists at the University of California, Berkeley.
  • Xi vows to dominate the world by 2049 - Surrounding yourself with yes men is however not a very good start – historically.

  • META (nee’ Facebook) is down -13% afterhours after missing on EPS ($1.64 vs $1.88). 
  • Brazil FT: Bolsonaro’s colorful personal life, with three marriages and two divorces, has not stopped him from winning support from evangelicals. He has also gained ground among the poor, thanks to a programme of cash handouts for lower-income families


Tuesday, October 25, 2022

California Poised to Overtake Germany as World’s No. 4 Economy 

The truth is that California outperforms the US and the rest of world across many industries. 

U.S, China, Japan and California 👍👍






Monday, October 24, 2022


Notes today: 

  • Justice Thomas agrees to halt Graham testimony in Georgia election probe..confidence in  SCOTUS heading BELOW recent 25%..


  • Two-Cent Venezuela Bonds Lure Traders Hunting Lottery-Like Score
It’s one of the most outlandish bets in global creditmarkets: Buying up defaulted bonds sold by a country under sanctions that leave US investors locked out of the market. 

  • LLY at all time high..
  • Reuters: Uganda has reported nine more Ebola cases in the capital Kampala, bringing the total number of known infections to 14 in the last two days. The outbreak began in September in a rural part of central Uganda. It spread earlier this month to Kampala, a city of more than 1.6 million people.

Chinese Yuan -  15-year Low

and SSEC Shanghai struggling









Saturday, October 22, 2022


Economist: House-price horror show.

Worldwide, homes are worth $90trn (for comparison, stock markets are worth $90trn), and account for half of all wealth.

 The relentless Yenwill it end?












  • Outside day



  • The yen appreciated on Friday, as the Bank of Japan and the Japanese government conducted a dollar-selling intervention.


Fed Funds and Inflation -  ways to go..




Quick Overview
is up to date

Notes today:

  • Just in case you haven’t noticed - the pandemic is not over. Continue to wear your fing mask indoors. 
  • Yang Zhang: What we just saw was the making of an All Xi's Men team, the breaking of decade-long rules, and the birth of an unlimited supreme leader. These are not entirely surprising, but Xi's grab of power is still beyond our expectation. He is now a truly modern emperor. (And no women anywhere)
  • Russia can end this war today by withdrawing all its forces. Simple!

  • Stocks rallied in a good way to close out last week in positive fashion. 

  • Upcoming quarterly earnings next week for Apple, Meta, Amazon, Alphabet and Microsoft etc.
  • Plus, there are several economic reports due out this week, including housing numbers and the latest updated GDP figure. 
  • Bloomberg: The largest US banks are warning of trouble ahead in auto loans with prices for used cars falling leaving borrowers at risk of owing more than their cars are worth. 

  • Looking at the water levels in the major rivers of the world this year, Mississippi, Rhine, Yangtze and not conclude that there is something serious happening to the climate? (Today: according to the NWS observed water levels, the Miss at Memphis broke its recent new record low and hit -10.80 feet at 3AM. Then at 5AM, it broke its new record, hitting -10.81 feet.) (wheat,corn,beans etc ??)

  • Trump was ordered to testify under oath and provide documents to the House of Representatives.

  •  US life expectancy falls to lowest since 1996..









  • Change in rates







  • A survey taken in June has the public confidence in the Supreme Court  at 25%, its lowest level in Gallup’s 50 years of polling.