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Money, Banking and the Economy
Speyside2 Offline
#501 Posted:
Joined: 11-11-2021
Posts: 2,104
WWLRD?
frankj1 Offline
#502 Posted:
Joined: 02-08-2007
Posts: 42,870
Speyside2 wrote:
WWLRD?

Lewd? He'd call everyone a commie.
RayR Offline
#503 Posted:
Joined: 07-20-2020
Posts: 6,751
Like Krugman says, he has the unusual freedom to believe whatever he wants to believe. He can just pick and choose the numbers that tell him what you want to hear and glue them together for the New York Times.
You can't believe anything the dude says, he makes up chit as he goes along, but even he seems to be confused about what's going from that article.
Krugman is a Leftie FED guy, he doesn't really believe that excessive government spending, artificially low interest rates, and money printing out of thin air creates distortions in the economy.


Krugman Is Wrong (Again): Artificially Low Interest Rates Created Bubbles

07/05/2022
Frank Shostak

"Contrary to Krugman the main source for money creation out of “thin air” is the central bank. Consequently, various bubble activities created are the outcome of the Fed’s monetary pumping and nothing else."


Quote:
In his June 21 New York Times article “Is the Era of Cheap Money Over?,” Paul Krugman argues against the view that the Fed has kept interest rates artificially low for the past ten to twenty years. Other commentators have argued that these low interest rates have inflated bubbles everywhere as investors desperately look for something that will yield a decent rate of return.

Krugman expresses strong disagreement that the decline in interest rates caused bubbles and that the decline was artificial. For Krugman, the Federal Reserve sets short-term interest rates, which in turn determine long-term rates. He then suggests that there’s no such thing as an interest rate unaffected by policy.

More...

https://mises.org/wire/krugman-wrong-again-artificially-low-interest-rates-created-bubbles
rfenst Offline
#504 Posted:
Joined: 06-23-2007
Posts: 37,327
Delta buys 100 Boeing Max planes, its first major order with the manufacturer in more than a decade

CNBC

Delta Air Lines is buying 100 Boeing 737 Max 10 planes, its first major order for new aircraft from the U.S. manufacturer in more than a decade.

The deal has options for 30 more of the planes. Deliveries are slated to begin in 2025.

The new order is good news for Boeing as Airbus recently won high-profile sales, including to several of China’s state-owned airlines. Boeing lamented trade tensions when that order was announced.

The order is worth $13.5 billion at list prices but discounts are common, especially for large sales. Delta didn’t disclose how much it paid but said the sale wouldn’t change its latest capital expenditure forecast.

Delta said Monday that the order will modernize its narrow-body fleet as the carrier seeks to capitalize on a rebound in travel following the record slump caused by the Covid pandemic. It said the Max planes will be 20%-30% more fuel-efficient than the jetliners they will replace.

Atlanta-based Delta is the only one of the top four U.S. carriers that hasn’t ordered new Boeing jets in recent years, favoring Airbus as it beefed up both its narrow-body and longer-range wide-body fleet. Delta retired older Boeing 777s during the pandemic and has been taking more deliveries of Airbus A350 twin-aisle planes.

The 737 Max was grounded for at least 18 months after the second of two fatal crashes in 2018 and 2019 together killed 346 people. The U.S. lifted the grounding in November 2020. Delta’s competitors over that period faced capacity constraints because deliveries of new Maxes were paused.

The Max 10 model is the largest of the narrow-body Max family and doesn’t yet have government approval. Boeing hopes to win approval for the planes before the end of the year, ahead of regulation passed in the wake of the two crashes that will require new planes to be outfitted with a cockpit alert system going into effect, though lawmakers could provide Boeing with a waiver.

“We have to make our case and it has to be persuasive, and we believe it is,” Boeing CEO Dave Calhoun told CNBC’s “Squawk Box” on Monday.

Delta said it expects the FAA to sign off on the planes next year.

Delta’s CEO, Ed Bastian, had previously hinted at an order for Max planes. When asked at a recent investor conference about a potential order of the narrow-body planes, Bastian said, “We’ve been trying to get a deal done with Boeing on that … hopefully we’ll be able to figure that out.”

Delta will configure the plane with 182 seats: 129 in standard economy, 33 in Comfort+ with extra legroom and 20 in first class.

Most of Delta’s new orders in recent years came from Europe’s Airbus.

In 2017, Delta was in the middle of a trade dispute between Boeing and Canada’s Bombardier, the then-producer of C-Series narrow-body planes, which Delta ordered. Boeing alleged Bombardier was selling the planes below cost, a case it eventually lost. Airbus later took over the program, renaming the planes the A220.

Boeing shares gave up earlier gains as the broader market fell, ending Monday little changed, while Delta shares rose 3.5%.



We at least know what Delta is betting the economy and travels sector will be doing well
HockeyDad Offline
#505 Posted:
Joined: 09-20-2000
Posts: 44,603
Deliveries are slated to begin in 2025 AB. (After Biden)
RayR Offline
#506 Posted:
Joined: 07-20-2020
Posts: 6,751
Pelosi is probably working on a multi-billion $ corporate welfare bill to help Delta pay for them...her hubby will be notified just before she rams it through congress. She better hurry though, I hear the mid-terms are coming quick...
RayR Offline
#507 Posted:
Joined: 07-20-2020
Posts: 6,751
Fishflation is a terrible thing. I think the penguins should revolt against their human slave masters who hoard all the quality fish for themselves and who treat the human proles with equal contempt and indifference to their plight.

Inflation Even Hurts the Penguins

written by ron paul
monday july 18, 2022

Quote:
A recent video shows penguins at a Japanese aquarium rejecting the cheap fish the aquarium has substituted for the higher quality fish the penguins are used to receiving. The reason the aquarium switched fish is because rampant inflation has made it impossible for the aquarium to afford the higher quality fish. The penguins’ reaction illustrates the flaw in governments claiming that even if inflation makes it impossible for you (or penguins) to eat steak (or higher quality fish) your quality of life has not been diminished as long as you can afford hamburger (or cheap fish).

Minimizing the impact of inflation by taking a “let the penguins eat lousy fish” approach is the basis of the “chained CPI” that is one of the ways the government underestimates price inflation. According to John Williams of Shadow Government Statistics, the real inflation rate (calculated without the government’s “modifications”) is over 15 percent! While they continue to understate the true rate of price inflation, government officials have been forced to admit at least that price inflation has reached levels not seen in forty years.

More...

http://ronpaulinstitute.org/archives/featured-articles/2022/july/18/inflation-even-hurts-the-penguins/

rfenst Offline
#508 Posted:
Joined: 06-23-2007
Posts: 37,327
RayR wrote:
Pelosi is probably working on a multi-billion $ corporate welfare bill to help Delta pay for them...her hubby will be notified just before she rams it through congress. She better hurry though, I hear the mid-terms are coming quick...

Clearly, you do not understand what her husband did and why.
Not saying it should be acceptable, though.
RayR Offline
#509 Posted:
Joined: 07-20-2020
Posts: 6,751
I think it's pretty obvious what Dirty Nancy and the clan have been doing all these years.

Systemic corruption has been prevalent in the political class for a long time.
How about this piece about how a political donor profited handsomely from a $300 grand investment ...

Scamdemic: NY Gov Hochul Awards Megadonor With $637 million in No-Bid Covid Contracts

Worse than Cuomo?

By Jordan Schachtel
The Dossier

July 20, 2022

Quote:
For the average New Yorker, the economy is in shambles. However, if you happen to be connected to the New York political elite, business is booming.

Governor Kathy Hochul’s health department has awarded a stunning $637 million in no-bid contracts to a company led by one of her major donors, for the supply of junk COVID products like tests, masks, and other “medical” devices.

Hochul megadonor Charlie Tebele, who has contributed some $300,000 to her campaign, has scored major business from COVID Mania, securing some hundreds of millions of dollars in taxpayer funds. Before securing the money from offices controlled by his sponsored politicians, Tebele transformed his electronic device outfit (a company called Digital Gadgets) into a COVID-19 business.

The Albany Times Union reports that Tebel received “$637 million in taxpayer funds to provide the state Department of Health — an agency controlled by Hochul — with at-home COVID-19 test kits,” adding, “the huge expenditure was made without the agency conducting competitive bidding.”

More...

https://www.lewrockwell.com/2022/07/no_author/scamdemic-ny-gov-hochul-awards-megadonor-with-637-million-in-no-bid-covid-contracts/

bgz Offline
#510 Posted:
Joined: 07-29-2014
Posts: 13,023
Damn... he's getting desperate...

A LewRock link...
RayR Offline
#511 Posted:
Joined: 07-20-2020
Posts: 6,751
bgz wrote:
Damn... he's getting desperate...

A LewRock link...


All the cool people go there. You weren't invited?
bgz Offline
#512 Posted:
Joined: 07-29-2014
Posts: 13,023
RayR wrote:
All the cool people go there. You weren't invited?


They don't like nerds that read non-fiction...

So no...
RayR Offline
#513 Posted:
Joined: 07-20-2020
Posts: 6,751
bgz wrote:
They don't like nerds that read non-fiction...

So no...


That's not true, just not the weird nerdy non-fiction you read.
rfenst Offline
#514 Posted:
Joined: 06-23-2007
Posts: 37,327
Mortgage demand drops to a 22-year low as higher interest rates, inflation crush Central Florida homebuyers


WESH Orlando

ORLANDO, Fla. —
It’s a strange sight. For sale signs in front of homes.

The housing market used to be so scorching hot, there was no time for signs. But for now, those days are gone.

"The market stopped about 60 to 90 days ago,” said Orlando realtor Barrett Spray.

Spray has worked in real estate locally for 30 years. He said the market has changed drastically.

“We were selling 15 to 20 houses a month, my team was. And now we are selling 10 to 12,” Spray said. “Demand has gone to basically nothing.”

As a result, the demand to get a mortgage and the demand to get a loan to buy a house is the lowest it has been in 22 years.

WESH 2 News talked to one Orlando mortgage broker who said back when things were hopping, he was closing on eight to ten homes a month. Now he’s down to two. What happened?

Consumers got hit with a double whammy. Interest rates have doubled. They started at 2.73% a year ago. Now they’re at 5.52%. For consumers, buying power has almost been cut in half.

"Somebody who could afford a $500,000 house before can only qualify for a $300,000, $350,000 house now,” Spray said.

Then there’s inflation. The price of gas, food and everything has gone up.

What’s next? Experts say interest rates are expected to keep climbing.

“And they expect them to go up to close to 8 percent. They don't expect this to slow down,” Spray said.

The good news for many consumers? The price of a house is expected to go down. But looking into a crystal ball would be easier than predicting the future of the housing market.
HockeyDad Offline
#515 Posted:
Joined: 09-20-2000
Posts: 44,603
It’s prolly transitory.
HockeyDad Offline
#516 Posted:
Joined: 09-20-2000
Posts: 44,603
“I'm not going to shut down the economy. I'm going to shut down the virus.” ~ President Biden
MACS Offline
#517 Posted:
Joined: 02-26-2004
Posts: 76,919
HockeyDad wrote:
“I'm not going to shut down the economy. I'm going to shut down the virus.” ~ President Biden


Meanwhile the economy sucks and apparently the virus is making a "comeback" or some would have you believe that... voting in November and such.
RayR Offline
#518 Posted:
Joined: 07-20-2020
Posts: 6,751
What the world needs is a return to real capitalism instead of this Marxist-style monetary system.

Artificially low interest rates create bubbles as they artificially bid up prices as they drive demand. When the FED is finally confronted with the destructive reality of its politically driven anti-market policies, the bubbles they create inevitably burst, and the dumbfounded lizard people say "What happened? No one could have predicted this", even though they've seen how the movie ended before over and over.

I heard it's shark week, think of FED's artificially low interest rates being chum thrown in the water and attracting sharks n droves, bringing on a feeding frenzy. Take away the free food and the shark bubble bursts and the party is over. 🦈
frankj1 Offline
#519 Posted:
Joined: 02-08-2007
Posts: 42,870
many understood what the cycle would be, and yet even, and I say "even", Trump publicly begged the Fed to go below zero on rates!
How soon we forget.
Sounds like you're saying perhaps a lot of the great numbers during his term weren't of his doing at all but are avoiding mentioning anyone but Biden.


Does it seem odd or am I just living in a part of the country where despite inarguably horror story numbers and stats flying around, the economy is actually chugging along very well?
HockeyDad Offline
#520 Posted:
Joined: 09-20-2000
Posts: 44,603
frankj1 wrote:
what about Trump?!


Does it seem odd or am I just living in a part of the country where despite inarguably horror story numbers and stats flying around, the economy is actually chugging along very well?


At the height of unemployment during the Great Depression, 75% were still employed. Glass half full.
RayR Offline
#521 Posted:
Joined: 07-20-2020
Posts: 6,751
$&@k Biden!
rfenst Offline
#522 Posted:
Joined: 06-23-2007
Posts: 37,327
Florida & Metro Economics Forecast: Pasta-Bowl Recession Headed for Sunshine State


The U.S. economy is headed for a pasta-bowl shaped recession, and Florida can expect to follow suit with a shallow, year-long recession of its own, says Sean Snaith, national economist and director of UCF’s Institute for Economic Forecasting.

UCF Today

“The pasta bowl recession in Florida will not be pleasant like a trip to Olive Garden,” says Snaith, returning to the kitchen for his latest recession descriptor after coining the term ‘gravy boat recession’ in 2009, “but there will be several benefits of an extended period of slower economic growth.”

Florida’s economy, as measured by Real Gross State Product, is expected to expand at an average annual rate of 1.4% from 2022-2025. Although it will not contract during the recession, growth will slow to 0.5% in 2023 and 2024 before accelerating in 2025.

Labor force growth in Florida is forecasted to average 1.4% from 2022-2025. After growing 2.5% in 2022, Snaith says, Florida’s labor force growth will slow from 2023-2024 before mildly accelerating in 2025.

Payroll job growth in Florida will begin to falter during the recession but not in every sector, Snaith says. After year-over-year growth of -4.9% in 2020, the labor market rebounded to 4.6% in 2021. With job growth expected to be 3.9% in 2022, the payroll employment will contract by 0.6% in 2023 and by 1.3% in 2024 before expanding 0.8% in 2025.

The unemployment rate that jumped from 3.3% in 2019 to 7.9% in 2020 fell to 4.8% in 2021 and will fall to 3.6% in 2022. The recession is expected to push up the rate to 4.9% in 2023 and to 5.8% before easing slightly to 5.7% in 2025.

Real personal income growth will average -0.7% during 2022-2025. Following a pullback in 2022, growth will average 1.7% through the end of the 2025 hitting 2.5% in that year. Florida’s average growth will be 0.5% higher than the national rate over that four-year span.

Housing starts will pick up going forward, Snaith forecasts, but not nearly fast enough to offset the large shortage of single-family housing in the short run. Total starts, which jumped from 156,762 in 2020 to 190,061 in 2021, will rise to 191,593 in 2022 before decelerating to 166,461 in 2023 and 161,911 in 2024. Total starts will tick up to 162,871 in 2025. Rapid house price appreciation will largely vanish over this period as supply catches up with demand tempered by rising mortgage rates, decreasing affordability and recession.





The Institute for Economic Forecasting strives to provide complete, accurate and timely national, state and regional forecasts and economic analyses.

Snaith is a national expert in economics, forecasting, market sizing and economic analysis who authors quarterly reports about the state of the economy. Bloomberg News has named Snaith as one of the country’s most accurate forecasters for his predictions about the Federal Reserve’s benchmark interest rate, the Federal Funds rate.
HockeyDad Offline
#523 Posted:
Joined: 09-20-2000
Posts: 44,603
It will be a transitory recession.
RayR Offline
#524 Posted:
Joined: 07-20-2020
Posts: 6,751
frankj1 wrote:
many understood what the cycle would be, and yet even, and I say "even", Trump publicly begged the Fed to go below zero on rates!
How soon we forget.
Sounds like you're saying perhaps a lot of the great numbers during his term weren't of his doing at all but are avoiding mentioning anyone but Biden.


Does it seem odd or am I just living in a part of the country where despite inarguably horror story numbers and stats flying around, the economy is actually chugging along very well?


Did I say anything about Trump? Did I mention anything about Biden? Not talking No, I didn't Frank.
Every President and nearly every unprincipled politician has dreamed especially since Nixon of how they could abuse the Federal Reserve System to achieve their political goals, and usually, the FED capitulates. And what they all gamble on is they hope and pray they are no longer in office when the chickens come home to roost.
Knowing how the system is rigged leaves no surprises how the national debt has skyrocketed, why repeated boom and bust cycles keep occurring, and why inflation keeps repeatedly eating away the purchasing power of the fiat dollar.

I think you're living in an inflated bubble Frank. Maybe I should start calling you Bubble Boy.
rfenst Offline
#525 Posted:
Joined: 06-23-2007
Posts: 37,327
HockeyDad wrote:
It will be a transitory recession.

You have already reminded us 100x over about what this.
rfenst Offline
#526 Posted:
Joined: 06-23-2007
Posts: 37,327
RayR wrote:
Knowing how the system is rigged leaves no surprises how the national debt has skyrocketed, why repeated boom and bust cycles keep occurring, and why inflation keeps repeatedly eating away the purchasing power of the fiat dollar.


"There have been as many as 48 recessions in the United States dating back to the Articles of Confederation, and although economists and historians dispute certain 19th-century recessions,[1] the consensus view among economists and historians is that "The cyclical volatility of GDP and unemployment was greater before the Great Depression than it has been since the end of World War II."

Wikipedia
HockeyDad Offline
#527 Posted:
Joined: 09-20-2000
Posts: 44,603
rfenst wrote:
You have already reminded us 100x over about what this.


Those reminders were transitory.
RayR Offline
#528 Posted:
Joined: 07-20-2020
Posts: 6,751
rfenst wrote:
"There have been as many as 48 recessions in the United States dating back to the Articles of Confederation, and although economists and historians dispute certain 19th-century recessions,[1] the consensus view among economists and historians is that "The cyclical volatility of GDP and unemployment was greater before the Great Depression than it has been since the end of World War II."

Wikipedia


Do you always get your economic history from WIKIPEDIA?

How Bad Were Recessions before the Fed? Not as Bad as They Are Now

06/28/2022
John Kennedy

Quote:
With a recession looming over the average American, the group to blame is pretty obvious, this group being the central bankers at the Federal Reserve, who inflate the supply of currency in the system, that currency being the dollar. This is what inflation is, the expansion of the money supply either through the printing press or adding zeros to a computer screen. It has gotten so bad that in the last twenty-two months, 80 percent of all US dollars in existence have been printed, from $4 trillion in January 2020, to $20 trillion in October 2021.

This is always how recessions start: the expansion of easy money, the creation of bubbles, and heightened prices caused by the devaluation of the currency supply. But recessions occurred long before the Fed's establishment in 1913.

Were these market failures, as many are taught to believe, or were they still the fault of a central bank or government policy? How bad were pre-Fed recessions? Did they rival the Great Depression or 2008?

More...

https://mises.org/wire/how-bad-were-recessions-fed-not-bad-they-are-now




RayR Offline
#529 Posted:
Joined: 07-20-2020
Posts: 6,751
What did I say in #518 about what the dumbfounded lizard people always say when their predictions were wrong? "What happened? No one could have predicted this" Keynsian Excuses...Excuses...

He seems to be his usual deaf dumb and blind self 🙊​🙉​🙈​, totally oblivious to the fact that others did see it coming. Just not the people that he likes to listen to, the economists he would call not serious, charlatans and cranks.


Quote:
Krugman was explaining his latest New York Times op-ed entitled "I Was Wrong About Inflation," which laid out why he incorrectly predicted that spending programs from the Biden administration would not lead to significantly higher inflation.

"What did you think you got wrong?" asked "Morning Joe" co-host Mika Brzezinski.

"Well, partly it's that, there's stuff that I didn't, that nobody saw coming. Nobody saw Putin invading Ukraine. I think nobody really thought about logistic supply chains or any of that stuff, until suddenly it became a big problem," Krugman claimed.



Lefty economist Paul Krugman on why he was wrong about inflation: 'Nobody thought about logistic supply chains or any of that stuff'

https://www.theblaze.com/news/paul-krugman-inflation-supply-chain
RayR Offline
#530 Posted:
Joined: 07-20-2020
Posts: 6,751
The lyin' Biden regime is trying to change the meaning of wurds. Anybody surprised?

Brian Deese, the 13th Director of the National Economic Council, serving under President Joe Biden before and after...

Brian Deese, yesterday: "Two negative quarters of GDP growth is not the technical definition of recession.”

Deese, 2008: “Economists have a technical definition of recession, which is two consecutive quarters of negative growth.”

https://twitter.com/RNCResearch/status/1552355645055270912?s=20&t=Zz1Gk2l2YNwAkk9BtTzTqA



Peter Doocy Humiliates Karine Jean-Pierre by Reading Biden Econ Advisor Brian Deese’s 2008 Definition of a Recession (VIDEO)

By Cristina Laila
Published July 27, 2022 at 5:41pm

Quote:
White House Press Secretary Karine Jean-Pierre on Wednesday confidently asserted that two back-to-back quarters of negative GDP growth is not the technical definition of a recession.

Even though it is.

The Biden Regime is actually redefining the term recession.

Fox News reporter Peter Doocy pointed to Biden econ advisor Brian Deese’s 2008 statement on the definition of a recession: “Economists have a technical definition of recession, which is two consecutive quarters of negative growth.”

The same people who accurately defined a recession years ago are now denying the true definition of a recession… because Joe Biden is in the White House.

“If things are going so great, then why is it that WH officials are trying to redefine recession?” Peter Doocy asked KJP.

“No, we’re not redefining recession,” KJP retorted.

Doocy shot back: “If we all understand a recession to be two consecutive quarters of negative GPD growth in a row and you have the White House officials come up here to say no, no, no that’s not what a recession is…how is that not redefining recession?

“Because that’s not the definition,” KJP said.

Okay, then!

More...

https://www.thegatewaypundit.com/2022/07/peter-doocy-humiliates-karine-jean-pierre-reading-biden-econ-advisor-brian-deeses-2008-definition-recession-video/


Biden plays Orwell, tries to redefine what ‘recession’ means

New York Post, July 25, 2022

By James Bovard
Quote:
“All rulers in all ages have tried to impose a false view of the world upon their followers,” George Orwell wrote in “1984.”

On Thursday, the federal government is expected to release statistics revealing that the economy contracted in the second quarter. Since this will be the second quarter in a row that the economy shrank, that fits the established definition of a recession.

So true to Orwell, Team Biden is going to change the meaning of words.

Biden’s Council of Economic Advisors launched a preemptive strike against bad news with a blog post on the theme: “What is a recession?” Despite decades of top economists concurring on a definition, Biden’s appointees treat the topic like an arcane metaphysical dispute that requires a “holistic look at the data.”

Instead of admitting the economy is shrinking, Team Biden touts a test indicating that a recession is not underway unless “the three-month moving average of the unemployment rate rises by at least half a percentage point (50 basis points) relative to its lowest point in the previous 12 months.”

“Moving average” is an apt phrase that evokes the circus shell game the Biden folks use to define away their failures.

More...

https://jimbovard.com/blog/2022/07/25/new-york-post-biden-plays-orwell-and-redefines-recession/
RayR Offline
#531 Posted:
Joined: 07-20-2020
Posts: 6,751
More about refuting the lyin' Biden regimes Ministers of Truth.

Via LRC...

What is a Recession?

Thomas DiLorenzo

Quote:
I took my first college economics course in the fall of 1972. The very mainstream textbook defined a recession as two consecutive quarters of negative real GDP “growth.” Then after graduating and earning a Ph.D in economics, I taught university economics for forty-one years, and all of the textbooks continued to define a recession as two consecutive quarters of negative real GDP growth. The Brandon administration now pretends that all of this never happened, there never was any such definition in any textbook, including the ones written by Democrat party political propagandists like Paul Samuelson, or anywhere else. That of course is ironclad proof that the U.S. economy is in fact in a recession and not only that, is experiencing 1970s-style stagflation. I suppose Senile Joe and his lying media scum (LMS) comrades will also deny that that word ever existed.

https://www.lewrockwell.com/lrc-blog/what-is-a-recession/
MACS Offline
#532 Posted:
Joined: 02-26-2004
Posts: 76,919
https://www.youtube.com/watch?v=XweHvbME9o8

Congress and Wall Street... bedfellows f---ing the rest of us.
BuckyB93 Offline
#533 Posted:
Joined: 07-16-2004
Posts: 12,973
Yup, corruption at it's best. We need real reforms and real oversight on this and not a superficial "fox guarding the hen house" type of reform but we all know that it ain't gonna happen.

This is kinda funny: one small time investment company, Subversive Capital Advisors, has filed with the SEC to launch two new ETF's with tickers of NANC and KRUZ.

"Congressional-tracking exchange-traded funds NANC and KRUZ aim to profit from lawmakers’ stock choices, but they may face a slew of headwinds.

In a recent filing, Subversive Capital Advisors disclosed it’s pursuing the launch of two new ETFs, the Unusual Whales Subversive Democratic Trading ETF (NANC) and the Unusual Whales Subversive Republican Trading ETF (KRUZ), apparently taking their names from House Majority Leader Nancy Pelosi (D-CA) and Sen. Ted Cruz (R-TX).

If the proposed funds are approved by the Securities and Exchange Commission, they will comb through financial disclosures of Democratic and Republican lawmakers, their spouses and dependent children to construct portfolios."


https://www.etf.com/sections/features-and-news/proposed-etfs-aim-mimic-congress-stock-picks

I wouldn't invest in those ETF's it but I think it's rather funny.
RayR Offline
#534 Posted:
Joined: 07-20-2020
Posts: 6,751
The need for real reforms and real oversight sounds nice but political insider trading and other forms of corruption have always been the result of so-called regulation, that is politicians and their bureaucratic state usurping power to steer outcomes favorable to themselves, their friends, and families, and their big donors. Of course, they'll sell it to the proles saying their laws are made to protect national security, protecting the consumer, promoting economic progress or other plausible-sounding lies. Dirty Nancy might even say "we are doing it for the children".

it's as old as there have been governments and men seeking political power. In America it's as old as the old republic, and reached a major epoch by the time of the party of Lincoln and has been endemic since, plunder reaching an astronomical scale today that is a signal of a crumbling empire.

Yes, it's amusing that these proposed ETF's make it their goal to directly profit from political insider trading.
ZRX1200 Offline
#535 Posted:
Joined: 07-08-2007
Posts: 58,391
https://thehill.com/blogs/blog-briefing-room/news/3669259-lawmakers-furious-at-pelosi-after-stock-trading-ban-stalls/
RayR Offline
#536 Posted:
Joined: 07-20-2020
Posts: 6,751
Dirty Nancy is up to her dirty tricks again.
RayR Offline
#537 Posted:
Joined: 07-20-2020
Posts: 6,751
Bob Unanue speaks the truth

Goya Foods CEO Bob Unanue: “At the Core of Inflation…is Evil” (9.29.22)

…[a] desire to control us.

https://www.lewrockwell.com/lrc-blog/goya-foods-ceo-bob-unanue-at-the-core-of-inflation-is-evil-9-29-22/
Sunoverbeach Offline
#538 Posted:
Joined: 08-11-2017
Posts: 13,854
What word is always pronounced wrong?
MACS Offline
#539 Posted:
Joined: 02-26-2004
Posts: 76,919
RayR wrote:
Dirty Nancy is up to her dirty tricks again.


I would fully support a pardon for the person that decided it was a good idea to kill that rotten beotch.

And no... I am not kidding. She's evil. She is no good for our country. She has been a self serving ass-hole and screwed the entire country for her own gain for years. She deserves a horrible, painful death.
Brewha Offline
#540 Posted:
Joined: 01-25-2010
Posts: 11,224
Sunoverbeach wrote:
What word is always pronounced wrong?

Wrong!
rfenst Offline
#541 Posted:
Joined: 06-23-2007
Posts: 37,327
I.M.F. Warns ‘Stormy Waters’ Ahead for World Economy

The I.M.F. lowered its growth outlook for 2023 and suggested interest rate hikes could spur a harsh global recession.


NYT

The International Monetary Fund said on Tuesday that the world economy is headed for “stormy waters” as it downgraded its global growth projections for next year and warned of a harsh worldwide recession if policymakers mishandle the fight against inflation.

The dark assessment was detailed in the fund’s closely watched World Economic Outlook report, which was published as the world’s top economic officials traveled to Washington for the annual meetings of the World Bank and the I.M.F.

The gathering comes at a fraught time, as persistent supply chain disruptions and Russia’s war in Ukraine have led to surging food and energy prices over the last year, forcing central bankers to raise interest rates sharply to cool off their economies.

“In short, the worst is yet to come, and for many people 2023 will feel like a recession,” the report said.

The I.M.F. maintained its most recent forecast that the global economy will grow by 3.2 percent this year but now projects that will slow to 2.7 percent in 2023, slightly lower than its previous estimate. But at the start of the year, the I.M.F. projected much stronger global growth of 4.4 percent in 2022 and 3.8 percent in 2023, highlighting how the outlook has darkened in recent months.

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Inflation is expected to peak later this year and decline from 8.8 percent in 2022 to 6.5 percent in 2023.

“The risks are accumulating,” Pierre-Olivier Gourinchas, the I.M.F.’s chief economist, said in an interview where he described the global economy as weakening. “We’re expecting about a third of the global economy to be in a technical recession.”

The I.M.F. defines a “technical recession” as an economy contracting for two consecutive quarters.

Jamie Dimon, the chief executive of JPMorgan Chase, told CNBC on Monday that the United States was likely to be “in some kind of recession six to nine months from now.”

The economies of the United States, the euro area and China are in various states of slowing, causing ripple effects around the world. In the United States, inflation and rising interest rates are sapping consumer spending power and activity in the housing sector is slowing as mortgage rates rise. Europe has been heavily reliant on Russia for energy and is facing sharp increases in oil and gas prices as additional sanctions go into effect later this year, just as the weather turns colder. Ongoing lockdowns in China to prevent the spread of the coronavirus continue to be a drag on its economy.

The slowdowns in advanced economies are putting additional pressure on emerging markets, many of which were already fragile and facing high debt burdens as they climbed out of the pandemic. Higher interest rates, soaring food costs and diminished demand for exports threatens to push millions of people into poverty.

“The poor are hurt the most,” David Malpass, the president of the World Bank, told reporters ahead of the annual meetings with the I.M.F. “We’re in the midst of a crisis-facing development.”

As the pain piles up in rich and poor countries alike, policymakers are under increasing pressure to blunt the fallout, with central bankers — including the Federal Reserve — facing calls to curtail interest rate increases.

Still, the I.M.F. warned that doing too little to combat inflation would make the fight more costly later. It also said that governments should avoid enacting fiscal policies that will make inflation worse.

In its report, the I.M.F. acknowledged that its forecasts face considerable uncertainty. Halting Russian gas supplies to Europe could depress its economies, debt crises in developing countries could worsen and the pandemic could come roaring back. Global output may sink below 2 percent next year.

“Risks to the outlook remain unusually large and to the downside,” the report said.




*Alan Rappeport is an economic policy reporter, based in Washington. He covers the Treasury Department and writes about taxes, trade and fiscal matters. He previously worked for The Financial Times and The Economist.)
HockeyDad Offline
#542 Posted:
Joined: 09-20-2000
Posts: 44,603
I heard that the stormy waters and harsh global recession will just be transitory.
rfenst Offline
#543 Posted:
Joined: 06-23-2007
Posts: 37,327
HockeyDad wrote:
I heard that the stormy waters and harsh global recession will just be transitory.

Yeah.
Reality happens.
RiverRatRuss Offline
#544 Posted:
Joined: 09-02-2022
Posts: 380
HockeyDad wrote:
I heard that the stormy waters and harsh global recession will just be transitory.


Wifes been doing Taxes for 35 yrs. each year they have to keep their hours up with current classes they must complete during their off season... many of her classes this off season were on Bitcoin... She's not happy with that Chit...but it is what it is..
ZRX1200 Offline
#545 Posted:
Joined: 07-08-2007
Posts: 58,391
You mean we’ve been murdering countries leaders and blackmailing their countries to join the IMF for nothing?

Printing money hasn’t helped anything except spinning plates and further enriching the 1%?

No way.
RayR Offline
#546 Posted:
Joined: 07-20-2020
Posts: 6,751
Fatcat Bankster (and I mean real FAT) boasts about Digital Currency totalitarianism.

Globalist Banker Says ‘Ban on Cash’ Will Give Central Banks ‘Absolute Control’ Over Your Money

October 10, 2022 Baxter Dmitry

Quote:
The General Manager of the Bank of International Settlements, known as the “Central Bank of Central Banks,” has issued a disturbing warning about the future of the financial surveillance state and its plans for a cashless society.
According to Augustin Carstens, central banks will soon have “absolute control” of everyone’s money and the “technology to enforce that.”

More...

https://newspunch.com/globalist-banker-says-ban-on-cash-will-give-central-banks-absolute-control-over-your-money/
rfenst Offline
#547 Posted:
Joined: 06-23-2007
Posts: 37,327
Globalism Failed to Deliver the Economy We Need

WAPO
There is so much general confusion, if not outright dread, about the state of the global economy. The war in Ukraine, gyrating gas prices, skyrocketing mortgage rates, the continued fallout of the Covid-19 pandemic and the looming prospect of a recession — all of these factors seem to be coalescing into chaos.

The fear is real. But the chaos is transitory, as it is largely driven by the tumult that attends any transition from an old economic order to a new one. Every economy goes through cycles of expansion and contraction, but the most important indicator within these cycles has less to do with market prices or unemployment rates and more to do with underlying political philosophy.

For roughly half a century, our political economy has been based on the governing concept of neoliberalism — the idea that capital, goods and people should be able to cross borders in search of the most productive and profitable returns. Many people associate it with the trickle-down economics practiced by Ronald Reagan and Margaret Thatcher or even the business-friendly economic ideas espoused by Bill Clinton and Barack Obama around financial markets and trade. But the roots of the philosophy go back further.

The term “neoliberalism” was coined in 1938, at a Paris gathering of economists, sociologists, journalists and businessmen who were alarmed by what they viewed as the excessive state control of markets after the Great Depression. For them, the interests of the nation-state and of democracy could pose problems for economic and political stability. The voting public could not be trusted, and thus national interests (or, more particularly, nationalism) should be constrained by international laws and institutions so that markets and society could function properly.

Global institutions like the International Monetary Fund and the World Bank and later organizations like the World Trade Organization — groups that were essentially about connecting global finance, trade and business across borders — were influenced by these neoliberal philosophies. They vigorously advocated the Washington Consensus, a series of economic principles derived from the tent poles of market liberalization and unfettered globalization. These prescriptions generated more growth than ever before; the four years leading up to the 2008 financial crisis were one of the strongest global growth periods of the past half century. But they also created substantial amounts of inequality within nations.

How? In part because money moves across borders much faster than either goods or people. The “cheap capital for cheap labor” bargain struck between the United States and Asia from the 1980s onward benefited multinational companies and the Chinese state far more than any other entities, academic research shows. The Reagan-Thatcher revolution unleashed global capital by deregulating the financial industry, and global trade was fully unleashed during the Clinton era, with deals like NAFTA and the eventual accession of China into the W.T.O., which tipped the balance of policy interests between domestic job creation and global market integration toward the latter. The idea was that cheaper consumer prices from imported goods would make up for flatter or even falling wages (in real terms for many working people).

But they didn’t. Even before the pandemic and the war in Ukraine, the prices of the things that make us middle class — from housing to education and health care — were rising far faster than wages. That’s still the case, even with recent wage inflation. The sense that the global economy has become too unmoored from national interests has helped fuel the political populism, nationalism and even fascism (in the form of Donald Trump and the MAGA movement) that we are grappling with today. It’s a bitter irony that the very philosophies that were meant to tamp down political extremism did just the opposite when taken too far.

The neoliberal philosophy is tapped out not only in the United States but also abroad — witness the backlash in Britain to Prime Minister Liz Truss’s ill-fated experimentation with trickle-down tax cuts. Offshoring to multiple countries was supposed to make manufacturing more productive and business more efficient. But many of those supposed efficiencies collapsed with any sort of global stress, from pandemics to tsunamis, port backups and other unforeseen events.

And complex supply chains resulted in any number of production disasters well before the global crises of the past few years; think about the Rana Plaza disaster in Bangladesh in 2013, in which a factory making clothes for various global brands (which had no idea about downstream risk in their supply chains) collapsed and killed over 1,100 people. Meanwhile, free trade itself, which was supposed to foster peace between nations, became a system to be gamed by mercantilist nations and state-run autocracies, resulting in deep political divides at home and abroad.

Fortunately, the pendulum of the political economy eventually swings back, and philosophies that have outlived their usefulness give way to new ones. Seismic shifts in the socioeconomic agenda are rare and transformative. We are going through such a shift now. The world is beginning to reset — not to the “normal” of conventional neoliberal economic models but to a new normal. There is a rethink going on in policy circles, business and academia about what the right balance is between global and local.

Trade policy is shifting to better consider labor and environmental standards, with an understanding that cheap isn’t always cheap if products are degrading the environment or being made with a child’s tiny hands. There’s also a rethink of trade in digital services to account for privacy and liberal values. (Do we really want our personal data handed over to big tech or big surveillance states like China?) Supply chains are shortening not only because of geopolitics but also because of new technologies (such as decentralized farming and 3-D printing) that are making it possible to hub production and consumption closer to home.

So what now? How can we make sure that economic globalization doesn’t again run too far ahead of national politics? And how can we fix things in a way that doesn’t result in 1930s-style protectionism or a false fit of nostalgia for a bygone era?

We don’t yet have a new unified field theory for the postneoliberal world. But that doesn’t mean we shouldn’t continue to question the old philosophy. One of the most persistent neoliberal myths was that the world was flat and national interests would play second fiddle to global markets. The past several years have laid waste to that idea. It’s up to those who care about liberal democracy to craft a new system that better balances local and global interests.
Sunoverbeach Offline
#548 Posted:
Joined: 08-11-2017
Posts: 13,854
Gyms should have memberships where your fee goes down based on how often you go
deadeyedick Offline
#549 Posted:
Joined: 03-13-2003
Posts: 15,235
Sunoverbeach wrote:
Gyms should have memberships where your fee goes down based on how often you go


Silver sneakers. fog Old guys rule!
RayR Offline
#550 Posted:
Joined: 07-20-2020
Posts: 6,751
"neoliberalism" What a stupid meaningless word. Of course, that word was coined by left-leaners in the 1930s, and that LEFTY WAPO article is still preaching the same nonsense using that word. They continue to try to equate classical liberalism with their made-up word "neoliberalism".

What's the Difference Between Liberalism and "Neoliberalism"?

10/21/2016
Ryan McMaken

Quote:
It is possible that there is no term more abused in modern political discourse than "liberalism." Originally meant to describe the ideology of free trade and limited government, the anti-capitalist left adopted the term in the 1930s and changed its meaning to the opposite of what it meant in the 19th century.

Liberalism never quite lost its correct meaning in most of the world, however, and in Spanish-speaking countries, for example, the word "liberalismo" still often means the ideology of free trade and free markets. Only American right-wingers appear to use the term as a pejorative to sling at the anti-capitalist left. Even in America, though, with the left having eschewed the term for the more trendy "progressive," the use of "liberalism" in political invective appears to be fading.

As if this weren't complicated enough, liberalism has now been saddled once again with a new variation, the meaning of which remains unclear: "neoliberalism."

More...

https://mises.org/wire/whats-difference-between-liberalism-and-neoliberalism
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