[Doomsday Economics] Home of Kirbeh's $16 half-slice

The Something Awful Forums > Discussion > C-SPAM > [Doomsday Economics] Home of Kirbeh's $16 half-slice

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(Thread IKs: skooma512)

mistermojo: Jul 3, 2004

banks arent supposed to have money, dummies. they just move 1s and 0s around or whatever

# ? Mar 15, 2023 22:18

Adbot: ADBOT LOVES YOU

# ? May 20, 2024 15:15

RealityWarCriminal: Aug 10, 2016

Fed to announce all the latest interest hikes were just a joke, it's actually 0% again and the last six months did not happen

# ? Mar 15, 2023 22:18

Raskolnikov38: Mar 3, 2007; We were somewhere around Manila when the drugs began to take hold

https://www.youtube.com/watch?v=rQiHzcdUPAU

# ? Mar 15, 2023 22:18

spacemang_spliff: Nov 29, 2014; wide pickle

HallelujahLee posted:

bofa deez unrealized losses

# ? Mar 15, 2023 22:19

Mirthless: Mar 27, 2011; by the sex ghost

triple sulk posted:

bofa deez ruts

Both of these bofa deez

# ? Mar 15, 2023 22:19

RealityWarCriminal: Aug 10, 2016

the economy must be slowed. unless you are a bank. then everything is guaranteed.

# ? Mar 15, 2023 22:20

Vox Nihili: May 28, 2008

Banks dutifully bought up hundreds of billions in "safe" ultra low yield, long-term bonds and securities and now theyre paying the loving price for their unwillingness to make properly aggressive bets

# ? Mar 15, 2023 22:21

anime was right: Jun 27, 2008; death is certain
keep yr cool

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

# ? Mar 15, 2023 22:21

Raskolnikov38: Mar 3, 2007; We were somewhere around Manila when the drugs began to take hold

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

i think your company hates you

# ? Mar 15, 2023 22:22

Woke Mind Virus: Aug 22, 2005

SKULL.GIF posted:

https://twitter.com/JackFarley96/status/1636086364520214528

it's actually fine to have unrealized losses cause they intend to them to maturity and then they will make a profit. Only way this can go wrong is if there is a bank run.

# ? Mar 15, 2023 22:22

Vox Nihili: May 28, 2008

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

Make me CFO, I promise to not do the stupidest thing possible at every turn

# ? Mar 15, 2023 22:23

FlapYoJacks: Feb 12, 2009

lol, and may I add: lmao.

# ? Mar 15, 2023 22:24

anime was right: Jun 27, 2008; death is certain
keep yr cool

im laughing so hard we are so hosed

# ? Mar 15, 2023 22:24

triple sulk: Sep 17, 2014

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

FlapYoJacks posted:

lol, and may I add: lmao.

# ? Mar 15, 2023 22:25

Mirthless: Mar 27, 2011; by the sex ghost

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

# ? Mar 15, 2023 22:26

Zapf Dingbat: Jan 9, 2001

lol the place i work for provides backend services to banks.

well good thing I'm a computer toucher.

# ? Mar 15, 2023 22:27

Mr Hootington: Jul 24, 2008; I'M HAVING A HOOT EATING CORNETTE THE LONG WAY

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

Bet the person who made that decision is having a good day

# ? Mar 15, 2023 22:27

skooma512: Feb 8, 2012; You couldn't grok my race car, but you dug the roadside blur.

Justin Tyme posted:

the problem imo isnt that they're writing lovely book reports, it's that they're afraid of being wrong (and relatedly, afraid of getting a bad grade because of being wrong) so they write the most inane, safest thing they can think of

Yup, they say failure is good and all that but in school that never seemed to be the case. You just got a bad grade and had to pull it up by somehow getting excellent grade, hell they'd barely go over why what you did was wrong or how to do it better, you got a bad grade and now you're bad, on to the next thing.

Frosted Flake posted:

Despite receiving an F, the student went over his professor's head to submit it to journals of antiquity, who promptly reached out to the school asking what the hell we were doing, which led to the school asking the department the same question. The department kept a copy of the paper, it's passed into legend and is still brought out whenever a new TA or adjunct is pulling their hair out or despairing at their students' work .

In terms of how he strung together historical information, the quality of his prose, ability to marry form and substance, engage with the scholarship, show a grasp of good historical writing, ChatGPT might have an edge, but I think there's another argument. It's possible that we've been half-educating people, at least at the high school level, for a while. I've been told, though I don't know if I agree or not, that most students don't really learn these skills until their Masters. Paradoxically, it means they are getting into grad school on the basis of memorizing the answers to fill out on scantrons.

So, you know, rather than ChatGPT becoming human, we've turned undergrads into ChatGPT and given up on really pushing them academically.

We surely have been half educating people. You said earlier college are waiting for the pandemic to graduate but uh, poo poo's gonna get a lot worse. COVID bodyslammed the public education system, already incredibly weakened by neoliberal rot, and I feel it is in terminal decline. Admins seem to have industry wide just completely given up and accepted that they're just here to make sure bodies are counted so they get funding. Teachers can get full on assaulted and be back in a couple days, and the parents to the extent they're involved at all, just show up to fight over grievances and make sure the school keeps taking their monsters off their hands. It's been deteriorating along these lines for over a decade and there has been and will never be, any action to correct it. At least with healthcare ,they can still get employees because it can still pay well, but public education is going to be shattered for good within a generation imo.

# ? Mar 15, 2023 22:27

anime was right: Jun 27, 2008; death is certain
keep yr cool

Mr Hootington posted:

Bet the person who made that decision is having a good day

theyre already pulling out

# ? Mar 15, 2023 22:28

webcams for christ: Nov 2, 2005

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

# ? Mar 15, 2023 22:28

Vox Nihili: May 28, 2008

Woke Mind Virus posted:

it's actually fine to have unrealized losses cause they intend to them to maturity and then they will make a profit. Only way this can go wrong is if there is a bank run.

If those are long-term securities (they are) and you hit a relatively high interest rate, inflationary environment (such as today), the banks find themselves locked into a really bad deal. They're going to be paying more in interest to depositors than they're gaining on their garbage securities, and they can't unlock that value without taking a huge hit on selling them. I don't know if that kills the bank outright but I think they're supposed to be in the business of making money and accruing capital.

# ? Mar 15, 2023 22:28

Woke Mind Virus: Aug 22, 2005

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

Jim Cramer, CFO.

# ? Mar 15, 2023 22:29

anime was right: Jun 27, 2008; death is certain
keep yr cool

least i got paid today

# ? Mar 15, 2023 22:29

Bar Crow: Oct 10, 2012

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

Let us know where they move it to next.

# ? Mar 15, 2023 22:29

Koirhor: Jan 14, 2008; by Fluffdaddy

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

let us know where they move them next so we can plan some trades

# ? Mar 15, 2023 22:30

SKULL.GIF: Jan 20, 2017

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

The pursuit of 「destiny」is immaterial yet inescapable.

# ? Mar 15, 2023 22:30

Woke Mind Virus: Aug 22, 2005

Vox Nihili posted:

If those are long-term securities (they are) and you hit a relatively high interest rate, inflationary environment (such as today), the banks find themselves locked into a really bad deal. They're going to be paying more in interest to depositors than they're gaining on their garbage securities, and they can't unlock that value without taking a huge hit on selling them. I don't know if that kills the bank outright but I think they're supposed to be in the business of making money and accruing capital.

the banks are strong and solid

# ? Mar 15, 2023 22:30

SKULL.GIF: Jan 20, 2017

Woke Mind Virus posted:

it's actually fine to have unrealized losses cause they intend to them to maturity and then they will make a profit. Only way this can go wrong is if there is a bank run.

Let me take a large sip of water and finish reading the posts after the above:

anime was right posted:

theyre already pulling out

Ah.

# ? Mar 15, 2023 22:31

Mr Hootington: Jul 24, 2008; I'M HAVING A HOOT EATING CORNETTE THE LONG WAY

One of the stock jackasses I followed revealed he is a swiss day trader who runs the business side of his architect brother's architect firm. He spent half the day begging people to stop panicking while posting updates about suisse.

# ? Mar 15, 2023 22:32

Orvin: Sep 9, 2006

I think people are getting spooked. I just got an email from Northwestern Mutual (where I have some IRAs that I rolled over from previous employers). They are spouting how they are fine from a liquidity standpoint:

quote:

Recent news surrounding Silicon Valley Bank has many individuals questioning the financial strength of the institutions they do business with. Be assured that by doing business with Northwestern Mutual, you are doing business with one of the strongest companies in America.

�

As we have seen in past market downturns, recessions, and even during the pandemic, Northwestern Mutual has not only survived extreme external challenges, it has thrived. We have a 165-year history of expertly navigating and managing the various risks of our business to ensure we can keep the promises the company makes to you, our policyowners, no matter the economic or market headwind it may face. It's a hallmark of our business and you can count on us.

The fact that this is coming out middle of today makes me think either regular people are waking up to the system shaking itself apart. Or maybe things are not quite so rosy at Northwestern Mutual. Or maybe both.

# ? Mar 15, 2023 22:33

skooma512: Feb 8, 2012; You couldn't grok my race car, but you dug the roadside blur.

If you need liquidity
Don't ask the Swiss or SVB
Diarrhea *clap clap* Diarrhea

If you got a bank run
Fiscally it's like the runs
Diarrhea *clap clap* Diarrhea

# ? Mar 15, 2023 22:33

i am harry: Oct 14, 2003

silicone thrills posted:

As an art school graduate, honestly in high school I spent the entire time working towards a portfolio that would get me a scholarship and it did (still had to pay a lot) but it was definitely coherent and good. I had a real goal to work towards instead of just floundering and just swimming with the current

I absolutely think everyone should get a balanced set of classes though. like i wouldn't say going all through to calculus was useful to me but algebra 1 and geometry? yes.

as a practicing adult artist, when i was a teenager i got a scholarship based on a test score i got while coming down from an acid trip, wrote a 2pg "essay" and never showed them any work, got accepted into SCAD, and then just said "nevermind" when i saw that the whole first year would be a repeat of my senior high school classes

# ? Mar 15, 2023 22:34

Koirhor: Jan 14, 2008; by Fluffdaddy

ya I�m not so sure about this whole capitalism thing

# ? Mar 15, 2023 22:34

shyduck: Oct 3, 2003

https://twitter.com/TechCrunch/status/1636040872155398147?t=sDnuAsC3CT2Qh07L_9AqNQ&s=19

# ? Mar 15, 2023 22:36

i am harry: Oct 14, 2003

anime was right posted:

company moved our banking info from svb to

get this

you will not loving believe it

credit suisse

now, this is a thread title

# ? Mar 15, 2023 22:37

Maed: Aug 23, 2006

Vox Nihili posted:

Glad to hear things remain largely the same at colleges

I went to college in the mid-late 00s and the amount of my peers that'd get their loving parents to call teachers about grades was embarrassing, learn to hack and change them on the mainframe like a normal person sheesh

# ? Mar 15, 2023 22:37