I haven’t been doing this as long as you - I woke up in early 2020 - but today’s FOMC presser was truly awful. He’s not even trying to be believable anymore. “Strong economy…2025 looks even better...low UR…record stocks…record housing…inflation well above target…cumulative inflation devastating people…inflation expectations rising…yields rising…..but we’re still gonna cut.”
I honestly believe that these hurricanes and their aftermath are going to crush the "housing as a casino" zeitgeist. Delinquency is rising and many will not be able to afford to re-build. Not to mention what is going to happen to these insurance companies.
FYI, when I left my corporate job two years ago, my COBRA health insurance for three of us was about 2600/mo!…..and really no alternatives in the market that I could find. Found ZION Healthshare, (not insurance) for 550/mo. Thankfully, we haven’t had to test their mettle, but acquaintance had heart episode and they paid 65k, no problem. The most interesting thing…..when you go to a provider and tell them that you have no insurance, the bills magically shrink by leaps and bounds…..
I am on the same self-employed pre-Obamacare PPO for 20+ years. The premiums have gone up over 10x. Because of my situation, I am hesitant to switch, but I talk to young families that are paying not much less than me - for a PPO. It's draining for Americans and businesses.
May I retort? From Star-Facts.com: "Almach, Gamma Andromedae (γ And), is a quadruple star system located in the constellation Andromeda. With an apparent magnitude of 2.27, it is the third brightest point of light in Andromeda. It is only slightly fainter than Mirach and Alpheratz, the constellation’s brightest stars. Almach lies at an approximate distance of 350 light years from Earth. It is a popular target for stargazers because the main components form a striking contrasting pair, like Izar in Boötes and Albireo in Cygnus. The brighter component appears orange or yellow, while the dimmer one is bluish white." Busted!
OMFG! It was plain as day. Went right over my head. How many people did it elude? I bought the book. Hacmal is a great name, not just a failed presidential candidate with a high positive magnitude. The brightest astronomical objects have negative apparent magnitudes. The Sun is -26.832. Objects in deep Hubble Space Telescope have images of magnitude +31.5. Hers?
A couple of years ago, I was insulted by Caitlin Johnson when she wrote that the “United States is the most highly propagandized country in the world.” I’ve since learned that she was absolutely correct.
“Wouldn’t buy bonds with your money.”🤣 Given the Fed’s clear predilection for inflation, it’s baffling to me that anyone would invest in Tsy bonds yielding less than say 8%. Seriously, after the inflation of 2022-4 and counting, you still trust the Fed? I need that explained to me.
DDB likes to say the Fed heads "mean well." As far as I can remember, that's how she's tried to frame them.
Nothing could be further from the truth.
I re-tweeted this again today during his press conference
https://x.com/RudyHavenstein/status/1288547608173084672
I haven’t been doing this as long as you - I woke up in early 2020 - but today’s FOMC presser was truly awful. He’s not even trying to be believable anymore. “Strong economy…2025 looks even better...low UR…record stocks…record housing…inflation well above target…cumulative inflation devastating people…inflation expectations rising…yields rising…..but we’re still gonna cut.”
The institution is effing evil.
Yes. The saving grace for me is that so many more seem to realize it now than even 10 years ago.
And....I forgot to say - great post!
Danke. Have not gotten to your latest yet but I will...
I honestly believe that these hurricanes and their aftermath are going to crush the "housing as a casino" zeitgeist. Delinquency is rising and many will not be able to afford to re-build. Not to mention what is going to happen to these insurance companies.
FYI, when I left my corporate job two years ago, my COBRA health insurance for three of us was about 2600/mo!…..and really no alternatives in the market that I could find. Found ZION Healthshare, (not insurance) for 550/mo. Thankfully, we haven’t had to test their mettle, but acquaintance had heart episode and they paid 65k, no problem. The most interesting thing…..when you go to a provider and tell them that you have no insurance, the bills magically shrink by leaps and bounds…..
I am on the same self-employed pre-Obamacare PPO for 20+ years. The premiums have gone up over 10x. Because of my situation, I am hesitant to switch, but I talk to young families that are paying not much less than me - for a PPO. It's draining for Americans and businesses.
The whole system seems to be set up to bankrupt people, slowly, and the suddenly in the end, or when the unexpected comes.
Our 2600/mo plan also had huge deductibles, so it was +30k/year if nobody got sick, and way more if they did. Unsustainable.
It does give you a glimpse into the scam when you tell them you don’t have insurance and the cost of an allergy shot drops from 600 dollars to 95…..
Another truth bomb laden episode from the Rud-man!
When you back on Coffee and a Mike with Collum?
When he asks me probably
PS: after your election … I think sarcasm and sobriety might make a comeback. But I’m probably wrong.
Cheers Rudy from Cold Canada.
May I retort? From Star-Facts.com: "Almach, Gamma Andromedae (γ And), is a quadruple star system located in the constellation Andromeda. With an apparent magnitude of 2.27, it is the third brightest point of light in Andromeda. It is only slightly fainter than Mirach and Alpheratz, the constellation’s brightest stars. Almach lies at an approximate distance of 350 light years from Earth. It is a popular target for stargazers because the main components form a striking contrasting pair, like Izar in Boötes and Albireo in Cygnus. The brighter component appears orange or yellow, while the dimmer one is bluish white." Busted!
I give up. I just wanted people to read the star names backwards.
OMFG! It was plain as day. Went right over my head. How many people did it elude? I bought the book. Hacmal is a great name, not just a failed presidential candidate with a high positive magnitude. The brightest astronomical objects have negative apparent magnitudes. The Sun is -26.832. Objects in deep Hubble Space Telescope have images of magnitude +31.5. Hers?
Almost no one noticed.
Schadenfreude
Looks like the markets and bitcoin are pricing in a Trump win. I guess that means democracy will be ok?
My gauge was USDMXN. Worked last 3 elections. We will survive this :)
A couple of years ago, I was insulted by Caitlin Johnson when she wrote that the “United States is the most highly propagandized country in the world.” I’ve since learned that she was absolutely correct.
You, me, and Gore Vidal agree. https://x.com/RudyHavenstein/status/1116428909875097600
“Wouldn’t buy bonds with your money.”🤣 Given the Fed’s clear predilection for inflation, it’s baffling to me that anyone would invest in Tsy bonds yielding less than say 8%. Seriously, after the inflation of 2022-4 and counting, you still trust the Fed? I need that explained to me.