That’s a lot to take in - well done. And, to borrow a job title from Caitlin Johnson, we need to elect a new middle-level manager in November. Two sides of the same coin sadly. Peter Grandich said ‘you want gold to get to $5000, elect Kamala’. He also said Trump would be no better; only that the continued slide down hill would be slower.
As for Putin - I have yet to hear a speech he’s made that causes me to think he’s an unreasonable villain - and the success of the Russian economy in the face of so much animosity is to be commended IMO - and I’ve seen YouTube videos of Americans who’ve emigrated to Russia who love it. The US leadership can’t ‘Mind their own damned business’ to quip Walz.
When I think about what the US leaders have inflicted on our own people and other nations, I’m thinking maybe we in a glass house shouldn’t throw stones. The rest of the world sees the whole picture - even if Americans cannot. Ask Tulsi Gabbard or Scott Ritter how well the US treat ‘dissidents’.
Of course the powers-that-be don’t let us hear Russian news and the hypocrisy that Russian ‘state financed’ news is some way more dangerous than NPR, RTE (Ireland), BBC and the other state funded news services throughout Europe is nonsense to me and an insult to Americans (we can think for ourselves thank you). Many Americans are invited for interviews on Russian TV (those Americans never invited onto our MSM); do we ever invite Russians to our media? Of course not.
I for one am ready for that “soul-ripping bear market” Dave mentioned. Our economy needs a good cleanse; however, the grifters in control will fight it with everything they can steal from us. Thanks again for another great read!
it is an extremely rare occasion when I come across a mention of my high school [ "that's when you lost us "] She was there long after I graduated but I do recall that for many years there were a rather a lot of exchange students for a small school in a small working class town . For many of us, kids whose families moved in from Massachusetts were considered 'foreign exchange ', if not refugees . It is still a small working class town, tho the main employer is now owned by German company and no longer runs 3 shifts a day... tourism , aka summer people provide considerable revenue .... here's a odd tidbit , both Obama daughters attended summer camp in the vicinity, once the site of several sleep away camps, now only 3 remain. the great 80's condo boom took over most lakeshore property . slowly returning to short term rentals
Thanks for highlighting the insanity of U.S. foreign policy. Anyone who does so these days is called a "Putin mouthpiece" but the real patriots are those who call out errors in our government particularly when they greatly increase the risk of civilization ending nuclear war. Something to think about as Russia is invaded, for the first time since WWII, by our lunatic puppet Zelensky. Russia has 6000+ nukes. The lesson other countries might take is that invading a nuclear power's territory is no longer taboo. We live in dangerous times.
CC delinquencies: your FRED post was for commercial banks and the same data for - Banks Not Among the 100 Largest in Size by Assets - is 7.88%, highest ever recorded by FRED and 2X higher than 1994.
The only reason I checked was because I couldn't believe it wasn't much worse, I'm really amazed at the divide between asset-holders and non-holders, can't imagine it's ever been this bad and getting worse. History will show that bailing out the banks during GFC was the beginning of the end, there's no way to right the ship and your cartoon with the bailers and bankers sharing the boat says it all. We have completely sold the message that the system can work and nobody will lose money, ever.
Two years ago, the Fed made the rational decision to increase the cost of capital which should have communicated to borrowers that they need to be more disciplined in their application of debt. Of course, the message from D.C. at the exact same time was, let's spend $2T of debt on our pets to keep this party going! The average citizen doesn't listen to the Fed, only to their elected guardians telling them there will never be any pain, ever again. Market-clearing can wait, until I'm out of office.
That’s a lot to take in - well done. And, to borrow a job title from Caitlin Johnson, we need to elect a new middle-level manager in November. Two sides of the same coin sadly. Peter Grandich said ‘you want gold to get to $5000, elect Kamala’. He also said Trump would be no better; only that the continued slide down hill would be slower.
As for Putin - I have yet to hear a speech he’s made that causes me to think he’s an unreasonable villain - and the success of the Russian economy in the face of so much animosity is to be commended IMO - and I’ve seen YouTube videos of Americans who’ve emigrated to Russia who love it. The US leadership can’t ‘Mind their own damned business’ to quip Walz.
When I think about what the US leaders have inflicted on our own people and other nations, I’m thinking maybe we in a glass house shouldn’t throw stones. The rest of the world sees the whole picture - even if Americans cannot. Ask Tulsi Gabbard or Scott Ritter how well the US treat ‘dissidents’.
Of course the powers-that-be don’t let us hear Russian news and the hypocrisy that Russian ‘state financed’ news is some way more dangerous than NPR, RTE (Ireland), BBC and the other state funded news services throughout Europe is nonsense to me and an insult to Americans (we can think for ourselves thank you). Many Americans are invited for interviews on Russian TV (those Americans never invited onto our MSM); do we ever invite Russians to our media? Of course not.
I for one am ready for that “soul-ripping bear market” Dave mentioned. Our economy needs a good cleanse; however, the grifters in control will fight it with everything they can steal from us. Thanks again for another great read!
it is an extremely rare occasion when I come across a mention of my high school [ "that's when you lost us "] She was there long after I graduated but I do recall that for many years there were a rather a lot of exchange students for a small school in a small working class town . For many of us, kids whose families moved in from Massachusetts were considered 'foreign exchange ', if not refugees . It is still a small working class town, tho the main employer is now owned by German company and no longer runs 3 shifts a day... tourism , aka summer people provide considerable revenue .... here's a odd tidbit , both Obama daughters attended summer camp in the vicinity, once the site of several sleep away camps, now only 3 remain. the great 80's condo boom took over most lakeshore property . slowly returning to short term rentals
Audio is a great idea, but I won't get any gifs or memes so I'll stick to the written option.
learned a lot....one of your best
thanks
Thanks for highlighting the insanity of U.S. foreign policy. Anyone who does so these days is called a "Putin mouthpiece" but the real patriots are those who call out errors in our government particularly when they greatly increase the risk of civilization ending nuclear war. Something to think about as Russia is invaded, for the first time since WWII, by our lunatic puppet Zelensky. Russia has 6000+ nukes. The lesson other countries might take is that invading a nuclear power's territory is no longer taboo. We live in dangerous times.
CC delinquencies: your FRED post was for commercial banks and the same data for - Banks Not Among the 100 Largest in Size by Assets - is 7.88%, highest ever recorded by FRED and 2X higher than 1994.
Just added your chart to the post.Thanks!
Good point. Maybe I'll add that chart in.
The only reason I checked was because I couldn't believe it wasn't much worse, I'm really amazed at the divide between asset-holders and non-holders, can't imagine it's ever been this bad and getting worse. History will show that bailing out the banks during GFC was the beginning of the end, there's no way to right the ship and your cartoon with the bailers and bankers sharing the boat says it all. We have completely sold the message that the system can work and nobody will lose money, ever.
I will add other chart(s) asap.
Two years ago, the Fed made the rational decision to increase the cost of capital which should have communicated to borrowers that they need to be more disciplined in their application of debt. Of course, the message from D.C. at the exact same time was, let's spend $2T of debt on our pets to keep this party going! The average citizen doesn't listen to the Fed, only to their elected guardians telling them there will never be any pain, ever again. Market-clearing can wait, until I'm out of office.
Boehner and McConnell singing “We shall overcome”: priceless!