All in, All the Time
Bernanke Hellhole!
“For Volcker, the most important denigrating fact of inflation was…that it undermines trust in government. When we give the government the right to print money…we trust that the government will not debase the currency…When you think about inflation in that context, there is no number – two, four, six. Any number is bad. The only number that works is zero…If you asked Volcker – and I asked him – what's the right number, he said zero.”
On Wednesday, I was on the Macrodirt podcast with the great Tony Greer and Jared Dillian, two traders who have been very nice to me. Mostly I just defend the band Nirvana.
Startup Alarmed When Its AI Starts Rickrolling Clients
Though he's not entirely sure how it happened, the Lindy CEO and founder told TechCrunch that he has a theory about how his AI assistants figured out how to execute this specific brand of internet humor.
"The way these models work is they try to predict the most likely next sequence of text," Crivello explained. "So it starts like, 'Oh, I’m going to send you a video!' So what’s most likely after that? YouTube.com. And then what’s most likely after that?""
Here’s QT So Far…
(So many do not seem to understand this when I post charts: “Logarithmic charts are used for a long term analysis of price changes on a stock or share price. They are commonly used by technical analysts and traders who want to see a percentage change, not a specific dollar value change.”)
Anyway, see if you can tell when the Fed really began distorting housing prices:
Home price-to-income ratio at record high
Melody Wright: Storm Clouds A'Brewin
“I had a guy on here a couple days ago who is like this crazy polymath dude, who just studies history and republics and stuff, and he has this whole theory - comprehensive theory based on historical events - on why there's going to be a Civil War in America after the election, and he talks about how it'll happen, why it'll happen, what are the four reasons it will happen - but what I came to realize is that it feels like you're basing this all off of data that you've been reading online, or from comments that you've been reading online, but you haven't really gone outside and had a conversation with somebody.
I'll say this again, because it's a beautiful analogy to the real world. My friend Julian Dorey came up with this. It's called the Wawa Theory. He says you go online, and you see all this stuff with Candace Owens, Ben Shapiro - all these people on Twitter - that are making it seem like the world is burning, right?
But then you go to Wawa and you see the girl with the green hair holding the door open for the guy with the Vietnam hat on, so it's not really like that. The world's not burning down. It is only to the people that haven't seen sunlight in a decade, who just focus on social media 24/7.”
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