webcams for christ posted:

https://twitter.com/Birdyword/status/1636001504959270912

quote:

'That's not the way the world really works anymore,' he continued. 'We're an empire now, and when we act, we create a new deposit insurance program. And while you're studying that program—judiciously, as you will—we'll act again, creating other new insurance programs, which you can study too, and that's how things will sort out. We're history's actors...and you, all of you, will be left to just study what we do'.[2]

Mr Hootington posted:

Ah the the $2trillion (not qe) is theoretical. If all the bonds currently on the books as a loss are traded in then it is a $2trillion injection.
https://twitter.com/EpsilonTheory/status/1636347265752133633?t=LLoYiR9rrotvVJYjT079Hg&s=19

I honestly don't see how someone buying a $1 bond, having it drop to $.80 in value, then trading it back for $1 isn't just willing into existence $.20

quote:

Program Duration: Advances can be requested under the Program until at least March 11, 2024.

Mr Hootington posted:

https://twitter.com/democracyatwrk/status/1638719714817118208?t=aMW3mTKhTrkV70m-Q_B1yg&s=19

quote:

The Iowa legislation is particularly dangerous because it would exempt employers from civil liability in the event of a youth’s injury or death on the job — even in cases of employer negligence — if the teen was participating in a school-approved “work-based learning program.”

Employers already flout child labor laws at record rates, according to the U.S. Department of Labor.

Mr Hootington posted:

Happy Easter.
realtimeinequality.org
Have fun playing with that website full of stats.

net work error posted:

https://twitter.com/unusual_whales/status/1645398974562734080?t=-x_zKlIn54jdjunygMsTFw&s=19

quote:

...
A money market fund that parks its cash at the Fed’s reverse repo facility is more or less a narrow bank: It takes money from investors, it promises to return it on demand, it parks the cash at the Fed, it has the right to withdraw it from the Fed on demand, it gets paid interest by the Fed, it passes most of that interest on to its investors and keeps a bit to pay its expenses. Like a narrow bank, it has few of the expenses of traditional banking (no loan officers, no branches, no capital requirements [14] ), so it can pass along a lot of the interest to investors. Like a narrow bank, it can offer investors a better interest rate than most banks. Like a narrow bank, it takes no credit risk or interest-rate risk, and it can tell investors “your money is much safer here than at a regular bank, since we just park 100% of it at the Fed.”

In an environment of rising interest rates — where banks have raised rates much more slowly than the Fed — that is attractive to depositors who want to earn a return. In an environment of banking worries — where banks have failed and uninsured deposits have, briefly, seemed to be at risk — that is very attractive to depositors who want their money to be safe. And so money is leaving banks to go to money market funds that park it at the Fed.

And the Fed’s worries were right! The Fed said no to TNB in 2019 because it worried that it would undermine traditional bank lending and that it would destabilize banks in times of trouble. [15] And now US regional banks seem to be destabilized, because people are worried about their safety and have an attractive safe alternative. And those banks are lending less. The Wall Street Journal reports:

>Banks need deposits to make loans; if deposits fall, lending is almost sure to follow. What’s more, the recent turmoil could spur banks to start paying depositors higher interest rates, crimping earnings >and further cutting into their lending capacities. And the speed of the recent deposit runs—customers withdrew $42 billion from SVB in a day; Signature lost $18 billion—has bankers stockpiling cash.
>
>The likely result, analysts and central bankers said, is a credit crunch.
>
>“If we lose that deposit base to the money-center banks, we can’t grow and lend out future dollars,” said Brian Johnson, chief executive of North Dakota’s Choice Bank. “Communities can’t grow, and >businesses can’t profit.”
>
>Mr. Johnson said that Choice’s bankers and products hold their own against those of the megabanks, but that the lender will never have the too-big-to-fail status that promises to shield depositors from >losses. “How can I compete for new business with that big enchilada out there?” he said.

And the biggest enchilada is the Fed, which didn’t want to compete with the banks for deposits, but which ended up doing it anyway.

quote:

Bloomberg
Money-Market Fund Assets at Record $5.2 Trillion as Rates Beckon
Balances have risen by more than $300 billion through March 29
Government money-funds saw assets rise to $4.33 trillion
ByAlex Harris
March 30, 2023 at 3:49 PM EDT

The amount of money parked at money-market funds climbed to a fresh record in the past week as banking concerns continued to rock global markets and attractive rates lure investors.

Money-market funds have been scooping up cash recently, fueled in large part by depositors pulling their money away from US banks. Initially much of that flow was driven by more attractive rates, but concern about the steadiness of some smaller lenders helped turbocharge that this month.
...

Willa Rogers posted:

the uber goon (trad.): neckbeard, insatiable appetite, hypochondriac, hated the church, overconfident in his gaming, fickle with babes (he killed some folxx, and many people)

quote:

Field Armor of King Henry VIII of England (reigned 1509–47)
Italian, Milan or Brescia

ca. 1544
On view at The Met Fifth Avenue in Gallery 371

This impressive armor was made for Henry VIII (reigned 1509–47) toward the end of his life, when he was overweight and crippled with gout. Constructed for use both on horse and on foot, it was probably worn by the king during his last military campaign, the siege of Boulogne in 1544, which he commanded personally in spite of his infirmities.
...
The armor is an early example of the “anime” type, in which the breastplate and backplate are constructed of horizontal overlapping plates connected and made flexible by rivets and internal leather straps. The decoration, consisting of foliage, putti, running dogs, and Renaissance candelabra and grotesque ornament, is typically Italian.

quote:

Second invasion of France and the "Rough Wooing" of Scotland
...
Despite the early success with Scotland, Henry hesitated to invade France, annoying Charles. Henry finally went to France in June 1544 with a two-pronged attack. One force under Norfolk ineffectively besieged Montreuil. The other, under Suffolk, laid siege to Boulogne. Henry later took personal command, and Boulogne fell on 18 September 1544.[149][146] However, Henry had refused Charles's request to march against Paris. Charles's own campaign fizzled, and he made peace with France that same day.[147] Henry was left alone against France, unable to make peace. Francis attempted to invade England in the summer of 1545 but his forces reached only the Isle of Wight before being repulsed in the Battle of the Solent. Financially exhausted, France and England signed the Treaty of Camp on 7 June 1546. Henry secured Boulogne for eight years. The city was then to be returned to France for 2 million crowns (£750,000). Henry needed the money; the 1544 campaign had cost £650,000, and England was once again facing bankruptcy.[147]

Oglethorpe posted:

Orvin posted:

First was the Volt, then came the Bolt. So figure out _olt for the next vehicle and win a prize.

But it’s probably so they can sell more Hummers and electric Silverados. I bet the Bolt production stops just as the Silverado production gets up to full speed.

quote:

Barra said a suburban Detroit plant that has produced Chevy Bolts since 2016 will be retooled in preparation for production of electric Chevy Silverado and GMC Sierra trucks scheduled for next year.
...
“When the Chevrolet Bolt EV launched, it was a huge technical achievement and the first affordable EV, which set in motion GM’s all-electric future,” Chevy spokesman Cody Williams said in a statement. “Chevrolet will launch several new EVs later this year based on the Ultium platform in key segments, including the Silverado EV, Blazer EV and Equinox EV. ”

Animal-Mother posted:

why not build bridges over the often used train tracks

Stereotype posted:

according to the earnings report that everyone is freaking out about they have double the cash / liquid cash equivalents than they have uninsured deposits. normal people with checking accounts also aren't doing the bank run, it's just rich people whose money isn't FDIC insured, though maybe now that will change since they are in the news. They don't actually have a crazy about of old treasuries according to this thing

quote:

But First Republic reported a profit. The problem, for First Republic, is that lots of its low-interest deposits have fled, and it has had to replace their funding by borrowing from the Fed, the FHLB and the big banks at much higher rates. Meanwhile it still has lots of long-term loans made at low interest rates. If you borrow short at 0% to lend long at 3%, and then your short-term borrowing costs go up to 5% while your loans stay the same, you will be losing 2% a year on your loans, and that is roughly the state that First Republic finds itself in. But it is not exactly the state that First Republic finds itself in: It still has some cheap insured deposits, some short-term assets, some floating-rate assets, some fee income, and in fact it has managed to scrape out a profit even as rates have moved against it. Can that last? I mean, maybe not:
...

Father Wendigo posted:

https://twitter.com/CNN/status/1653750037065658368?t=mtvfnz__1aTKdxthf_sJ0Q&s=09

my bony fealty posted:

what's the best way to buy a car in the doomsday economy. is there a SA thread that will tell me what to do.

skooma512 posted:

I'd also like a guide with the secret goon meta to get a car for cheap.

Willa Rogers posted:

a bunch of democrat governors allowed those p.e. ghouls who own nursing homes to write their emergency orders during covid & the ghouls put in indemnity clauses that exempted their liability for malfeasance that occurred even before covid.

and the for-profit care homes are the only ones who take Medicaid; the non-profit ones are those that charge like $10k/month.

Hubbert posted:

the full book review article is an INCREDIBLE read

https://prospect.org/culture/books/2023-06-02-days-of-plunder-morgenson-rosner-ballou-review/

Mr Hootington posted:

The company went under because it was found out the executives had never paid into the pension fund like they were obligated too and when we're ordered too they just did a company closure lol

Xaris posted:

economy seems fine to me. ALL TIME HIGHS!

Mr Hootington posted:

The nukes are going to be launched and for 25 minutes the stock market will climb to ATHs

SirPablo posted:

It is socially beneficial to let people Die With Dignity. Using that as a way to pressure people to die would be hosed up. Painting the fact that the allocation of your remaining resources would be done in a "positive" way isn't by itself bad, really depends on the motive.

loquacius posted:

Insurance already does this in many circumstances. The only difference is they generously give you the option of paying for it out of pocket if they decide they won't

I dunno, we're ALREADY in a situation where people who will never meet or speak to you and (notably) are not doctors are deciding what healthcare we do or do not need, they just work for private industry instead of the government

PoundSand posted:

something I sort of wonder with end of life care stuff is what countries with better health systems are doing. Cause like in america the conventional knowledge is that unless you're just perfectly healthy after you retire up until the point you die peacefully in your sleep overnight it's a crippling amount of money that none but the richest can afford. So if it does realistically cost a gajillion dollars per month for however many years it takes for you to die getting in home care or spending it at a facility how do nationalized places afford it? It seems like particularly with populations skewing older it could get prohibitively expensive. I understand the whole for profit nature of the american system is inflating costs of everything so I'd assume it's cheaper elsewhere, but at the same time I imagine a lot of the costs of those sorts of facility are staffing so presuming it's professionals making a reasonable wage there's somewhat of a floor that's probably pretty high regardless of meds/equipment being more reasonable.

It sounds like Canada is having this issue due to neoliberal rot, so who are good examples of it?

quote:

Instead of being satisfied with its spellbinding performance, Disney doubled down and commissioned dedicated Disney+ shows and movies, spending $33 billion on content in 2022 alone. Driven by ego in a bid to attract more subscribers than Netflix, Disney upped the ante and it didn't pay off.

Pretty much everything that could go wrong for Disney did go wrong. Taxes soared as governments sought to claw back the massive furlough payments made during the pandemic. At the same time, inflation surged due to the war in Ukraine and local factors such as Brexit in the United Kingdom. Meanwhile, consumers were still wary of returning to cinemas due to the risk of catching covid. However, they weren't stuck indoors any more so they had less of a need for streaming subscriptions and less money to pay for them.

mawarannahr posted:

lol
Employers feel the side effects of drugmaker control over Wegovy, Ozempic costs

quote:

NEWS FEATURE
16 April 2024
Obesity drugs aren’t always forever. What happens when you quit?
Many researchers think that Wegovy and Ozempic should be taken for life, but myriad factors can force people off them.

...
What happens to weight and health when people quit?
Ozempic and Wegovy are both brand names for the drug semaglutide, which has been prescribed for several years to treat type 2 diabetes (Ozempic) and, since 2021, to those who are overweight or have obesity (Wegovy). The treatment’s aim is to reduce the risk of health complications posed by a large amount of excess body fat, such as heart and liver disease and certain cancers. The drug curbs hunger and food intake by mimicking a hormone, released by the gut after eating, that affects brain regions involved in appetite and reward.

Research has shown what happens when people stop taking GLP-1 agonists. Many regain a substantial amount of what they lost with the help of the medications. The body naturally tries to stay around its own weight point, a pull that obesity specialist Arya Sharma likens to a taut rubber band.

If you take a medication to alter your biology, “the tension of the rubber band is a lot less”, he explains. “But when I take away the medication, that tension is going to come back,” says Sharma, who is based in Berlin and consults part-time for several companies that have an interest in obesity.

For instance, in a trial that studied the effects of withdrawing from the drug, about 800 participants were given weekly injections of semaglutide — as well as making dietary changes, doing exercise and receiving counselling — and lost, on average, 10.6% of their body weight in about 4 months1. Then, one-third of the participants were switched to placebo injections for nearly a year. Eleven months after the switch, those on the placebo had regained almost 7% of their body weight, whereas participants who kept taking semaglutide continued to lose weight. Similarly, participants in an extended semaglutide trial, who lost an average of 17.3% of their body weight after more than one year of receiving the drug and making lifestyle changes, regained about two-thirds of that lost weight after one year without any clinical-trial interventions2.
...

Acelerion posted:

House and 401k cannot go down. Doubly so in an election year. Best we can do is hold it sideways so wages catch up in 18 years

DJJIB-DJDCT posted:

It's unironically a shame that liberals, including the lib-left can only engage with this in terms of No Body is Illegal or whatever, rather than seeing what's actually going on here.

The Left Case against Open Borders

quote:

With respect to illegal immigration, the Left should support efforts to make E-Verify mandatory and push for stiff penalties on employers who fail to comply. Employers, not immigrants, should be the primary focus of enforcement efforts. These employers take advantage of immigrants who lack ordinary legal protections in order to perpetuate a race to the bottom in wages while also evading payroll taxes and the provision of other benefits. Such incentives must be eliminated if any workers are to be treated fairly.

Danann posted:

https://twitter.com/philippilk/status/1782409654519128497

petty boug meltdown going to be real ugly in the near future

Father Wendigo posted:

FED'S DALY: No more sunrises until the streets run red with the blood of the unemployed.

https://twitter.com/financialjuice/status/1788640909107609872?t=QWWOENPAq8muoLl-ADE3_Q&s=19

quote:

Fed's Daly favors waiting to gain confidence that inflation is dropping
Jennifer Schonberger·Senior Reporter
Thu, May 9, 2024, 2:51 PM EDT3 min read

San Francisco Fed president Mary Daly said uncertainty about the inflation outlook has increased and made it difficult to make projections for policy until the central bank gets more clarity.
...
Instead Daly outlined two possible scenarios for the path of interest rates. One has inflation resuming its downward trajectory with a cooling job market, and in that case lowering rates would be appropriate.

The other scenario has inflation continuing to stall out as it has during the first three months of this year. If that happens, it would not be appropriate to cut rates unless the job market falters, she said.
...

loquacius posted:

Couldn't they fill similar jobs in the single payer bureaucracy