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So like how do you get a piece of the risk free VC money I got a idea for a start up that uses AI to diagnose diseases based on the volume length and timbre of farts Money me money now me a money a lot needing now
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Mar 12, 2023 23:53
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Wait, did they just back door the money printer, but only for banks? Buy a discounted treasury. Take out a loan from the FDIC on its full value In one year just quietly surrender the treasury Easy profit. I am probably missing something obvious, as I tend to missing things.
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Mar 12, 2023 23:54
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Raskolnikov38 posted:spoiler: they will give the fed whatever they cant sell and pocket the money same as it’s been for the past 15 years
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Mar 12, 2023 23:54
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The_Franz posted:how much of that is because younger people just don't want to get into it because it's 'boring', vs these kinds of jobs putting up a wall with low salaries and no chance of promotion because the people currently doing these jobs refuse to retire? pay is still "good" but usually around 80k-150k depending on locality. that's not big figgy facebook toucher 300k+ballpits+work 6 hrs a week job that every starry-eyed college grad dreams of though. the thing about public work is there aren't really promotional ladders (and there's really no need for them of apprenctice/journeyman/master tier) and then usually into CPI wage adjustments one of the things about starve the beast is once an entity falls into operating, they really can't open new jobs and can't budget/allocate overlapping positions. it also becomes a problem that you have to maintain 1982-era switchboards instead of new off-the-shelf siemans or whatever because that's outside of operating-basis budgets.
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Mar 12, 2023 23:54
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https://twitter.com/zerohedge/status/1635051366791139331
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Mar 12, 2023 23:55
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lol that every time the fed tries to even so much as look away from larding up its balance sheet with toxic waste a load bearing pillar of the economy implodes
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Mar 12, 2023 23:55
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Raskolnikov38 posted:spoiler: they will give the fed whatever they cant sell and pocket the money
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Mar 12, 2023 23:55
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so are they going to be able to cover 100% or is it just propaganda that they're doing it, and they won't actually be able to?
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Mar 12, 2023 23:56
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https://twitter.com/byHeatherLong/status/1635051685126221824?t=0VBrEp2iZrrWwVuGckTaTw&s=19 What if a number of wealthy individuals conspire to pull all their ones out of a bank and trigger a small bailout? They could just poof more money into existence with this.
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Mar 12, 2023 23:56
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lol that we have to pretend the fed and the treasury aren’t the same thing in order to maintain the fiction of a free market
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Mar 12, 2023 23:56
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Orvin posted:Wait, did they just back door the money printer, but only for banks? Yes
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Mar 12, 2023 23:57
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With Signature ethered is Binance the only remaining crypto nexus of note?
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Mar 12, 2023 23:58
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Wolfers is actually right and seems frustrated https://twitter.com/JustinWolfers/status/1635052321410527232?t=bw8XXbSbhjjJh6CdyIPqKw&s=19
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Mar 12, 2023 23:58
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spacemang_spliff posted:So like how do you get a piece of the risk free VC money you know people. its literally just a social club with a ton of money to throw around. VCs are sick freaks who get their rocks off seeing who can build the best "portfolio."
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Mar 12, 2023 23:59
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Zero Hedge is wrong: they can just go to the Mint and BRRRR the Trillion dollar coin! *taps head*
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Mar 12, 2023 23:59
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Why did ftx not be bailed out lol
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Mar 12, 2023 23:59
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Mr Hootington posted:What if a number of wealthy individuals conspire to pull all their ones out of a bank and trigger a small bailout? They could just poof more money into existence with this. this is not the time for moral hazard lectures 
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Mar 12, 2023 23:59
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spacemang_spliff posted:Why did ftx not be bailed out lol Dollar hegemony must not be failed.
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Mar 13, 2023 00:00
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spacemang_spliff posted:Why did ftx not be bailed out lol cuz SBF donated publically to democrats, which is bad+makes conservatives mad, but also privately donated to republicans which makes democrats mad. also no one cares about crypto junk
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Mar 13, 2023 00:00
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https://twitter.com/mcuban/status/1635051544931622912?s=20
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Mar 13, 2023 00:00
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so the fdic has 125 billion on hand, can call another 100 billion into existence at any time, and now theres an extra 25 billion floating at the fed to bailout banks anybody know what the total loses so far are
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Mar 13, 2023 00:01
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america is loving garbage
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Mar 13, 2023 00:01
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triple sulk posted:america is loving garbage
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Mar 13, 2023 00:01
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Mr Hootington posted:Wolfers is actually right and seems frustrated You know shits bad when even that rear end in a top hat gets it
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Mar 13, 2023 00:01
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i cannot loving believe that i'm actually cheering on wolfers
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Mar 13, 2023 00:01
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Mr Hootington posted:Wolfers is actually right and seems frustrated the "it has to be done" bullshit reply guy to Justin is maddening. Nobody can do anything for the poor and ailing, only tech bros. AND the fuckers have a chip on their shoulder about it now too lol
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Mar 13, 2023 00:01
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re: toxic assets -- these MBS/treasuries are not toxic the same way they were in 2008. They're long-term treasuries and some actually-valuable mortgage backed securities that just lost value when interest rates went down. They'll pay back par at maturity, so loans from the federal government to help banks wait it out is... gross, but not actually insane, and certainly not toxic. Twerk from Home posted:So the actual solution is going to be that some banks are able to borrow money at 1%, but everyone else has to borrow money at 6% or higher? always have been.jpg Orvin posted:Wait, did they just back door the money printer, but only for banks? hello it is me a recruiter for a bank i see you have a sharp mind - but do you lack the ethics necessary to really make it?
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Mar 13, 2023 00:02
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Wait so if all of these banks are just illiquid, shouldn't they just go to the Fed overnight window and borrow the cash to pay out runs? That's the whole point of the Fed, right?
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Mar 13, 2023 00:02
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The_Franz posted:how much of that is because younger people just don't want to get into it because it's 'boring', vs these kinds of jobs putting up a wall with few openings, low salaries and no chance of promotion because the people currently doing these jobs refuse to retire? The company I used to work for would hire a competent controls technician who showed up with his own tools $200/hr billed for project work. 'Competent controls technician' included someone who was a competent electrician who could be left alone to pull wire, troubleshoot wiring and electrical motors, troubleshoot SCADA, understood and could implement HMIs, and who could physically assist in moving equipment around/replacing broken equipment/etc. At least on that end of the industry (wastewater, industrial water) it's difficult, loud, and uncomfortable work on the best of days and you'll always be a 1099. But you will be very well paid.
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Mar 13, 2023 00:02
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"The futures - they are soaring" -- CNBC anchor DOW SOARS
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Mar 13, 2023 00:02
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shoulda bought that dip
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Mar 13, 2023 00:03
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spacemang_spliff posted:Why did ftx not be bailed out lol He lied and stole all the customers deposits to make super risky bets that went to zero. This SVB blowup is incredibly funny because the toxic assets that they made a bad investment on and killed the bank are US treasuries!
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Mar 13, 2023 00:03
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Raskolnikov38 posted:so the fdic has 125 billion on hand, can call another 100 billion into existence at any time, and now theres an extra 25 billion floating at the fed to bailout banks Good question. SVB had ~200 billion in assets, not all of them were the uh-oh long term assets, ballpark 10 billion dollar hole (in that one bank).
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Mar 13, 2023 00:03
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spacemang_spliff posted:Why did ftx not be bailed out lol ftx was doing things that were overtly illegal. this is more subtle
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Mar 13, 2023 00:03
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coelomate posted:"The futures - they are soaring" -- CNBC anchor Futures had a big 70 point pop after the bailout news but have given back half of that. Will get real interesting when Asian markets open in a couple hours. European markets open in the early morning.
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Mar 13, 2023 00:04
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loving gross. sick to my stomach over this poo poo
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Mar 13, 2023 00:05
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Nonsense posted:the "it has to be done" bullshit reply guy to Justin is maddening. Nobody can do anything for the poor and ailing, only tech bros. AND the fuckers have a chip on their shoulder about it now too lol i hate them so much and felt like i was going insane in yospos
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Mar 13, 2023 00:05
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coelomate posted:"The futures - they are soaring" -- CNBC anchor Well, yes - there was another country that had soaring (and stuck in place) futures... 
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Mar 13, 2023 00:05
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I don’t know why but I’m thinking a lot about guillotines and the romanovs and mao and the minnesota third precinct rn
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Mar 13, 2023 00:05
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https://twitter.com/unusual_whales/status/1635053808987545600 its not 2008 ok guys
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Mar 13, 2023 00:05
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