Mar 13, 2023·edited Mar 13, 2023Liked by Rudy Havenstein
The past week has been profoundly demoralizing. It’s not just Ackman, who’s beyond any doubt a charlatan, but many others acting shocked that deposits should ever be at risk, anywhere, ever, and now people are calling for universal, unlimited deposit insurance. We might as well create a nationalized bank and be done with it. A large number of powerful people clearly don’t believe in capitalism. No wonder young people see it all as rigged and want their piece of the action in the form of cancelled student debt.
I can't tell you; don't have an ATM card. I only use them overseas to avoid carrying cash. If Elon banned you, I guess you can't sit on The Federal Reserve Board.
"The trouble is that too few get poor — really, suitably poor — in the busts. To the titans of finance goes the upside. To we the people, nowadays, goes the downside."
It's the same model for toxic Superfund sites.. privatize profits & socialize losses.. win - win!
In the mid-80’s, at lunch with a couple friends, we decided to visit a music store. I bought two CDs, a Metallica (don’t remember which one), and a Best of Patsy Cline. One friend looked down at my purchase and then up to me, and said, “Sometimes you frighten me.” Your tastes are eerily similar.
I was pulling for you to Elon on Twitter.
Absolutely absurd and unacceptable
The past week has been profoundly demoralizing. It’s not just Ackman, who’s beyond any doubt a charlatan, but many others acting shocked that deposits should ever be at risk, anywhere, ever, and now people are calling for universal, unlimited deposit insurance. We might as well create a nationalized bank and be done with it. A large number of powerful people clearly don’t believe in capitalism. No wonder young people see it all as rigged and want their piece of the action in the form of cancelled student debt.
Keep this content coming, loving it.
You had me at Captain Kangaroo.
I have not seen "Inside job". Thanks for linking that!
Why wasn't the CEO apology video done behind bars? Alf does a great job of recapping the "crime" at SVB.
https://themacrocompass.substack.com/p/banking-crisis
“Oil!” Is under appreciated. Movie even better! I tweeted out that Grant op-ed a few hours ago. Wisdom.
I can't tell you; don't have an ATM card. I only use them overseas to avoid carrying cash. If Elon banned you, I guess you can't sit on The Federal Reserve Board.
"The trouble is that too few get poor — really, suitably poor — in the busts. To the titans of finance goes the upside. To we the people, nowadays, goes the downside."
It's the same model for toxic Superfund sites.. privatize profits & socialize losses.. win - win!
In the mid-80’s, at lunch with a couple friends, we decided to visit a music store. I bought two CDs, a Metallica (don’t remember which one), and a Best of Patsy Cline. One friend looked down at my purchase and then up to me, and said, “Sometimes you frighten me.” Your tastes are eerily similar.
I'm certain the South Park guys would be better Fed managers than the current bunch.
How dare you do that to CPT Kangaroo.
♤
So how is this affecting Janet’s speaking fees? I hope we can backstop her from further losses.
I tried to get you unblocked too.
Now i also got banned. Good thing is i have time to read your posts now. TWTR is too distracting.
Can’t be the only one that sees Bill the Cat Acking up a hairball every time Bill Ackmans says “this is not a bailout.”
Unsure if this qualifies as financial advice or not. ACK. thbbbbt