Bad Economic Predictions

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TheCatt
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Bad Economic Predictions

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Image

Leading Economic Indicators forecasting a Q1/Q2 recession.
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Leisher
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“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
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Bad Economic Predictions

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Good.
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Leisher
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Post by Leisher »

Another train derails in Ohio.

No chemicals this time.

This is what happens when you focus on getting record profits every quarter instead of putting money into your company.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
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Bad Economic Predictions

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Leisher wrote: Mon Mar 06, 2023 12:36 pm This is what happens when you focus on getting record profits every quarter instead of putting money into your company.
Also when the government cuts back on oversight + rules.
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TheCatt wrote: Mon Mar 06, 2023 12:50 pm
Leisher wrote: Mon Mar 06, 2023 12:36 pm This is what happens when you focus on getting record profits every quarter instead of putting money into your company.
Also when the government cuts back on oversight + rules.
True, but if the company was actually concerned with its business, it wouldn't need the government to impose a lot of rules. They would already be concerned about keeping their employees, their reputation, and their customers' products safe.

The company AND your government currently don't give two shits about their employees, their reputation, their customers' products, or us.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
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Bad Economic Predictions

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Leisher wrote: Mon Mar 06, 2023 1:15 pm They would already be concerned about keeping their employees, their reputation, and their customers' products safe.
Weird how it's never worked out that way.
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Post by GORDON »

Anyone blaming Biden for the recent railroad union busting, yet?
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Post by Leisher »

TheCatt wrote: Mon Mar 06, 2023 1:19 pm
Leisher wrote: Mon Mar 06, 2023 1:15 pm They would already be concerned about keeping their employees, their reputation, and their customers' products safe.
Weird how it's never worked out that way.
Why would it? Adam Smith's invisible hand is broken. Ds and Rs hold the strings and run it like a fucking marionette.

Yes, human beings' natural greed will always play a role in shitty owners trying to run things in a shitty manner, but it would be scaled down without the Wall St. influence. Or should be all things being equal. If people actually had a choice on where to shop and work.
GORDON wrote: Mon Mar 06, 2023 2:53 pm Anyone blaming Biden for the recent railroad union busting, yet?
Random comments on Twitter, but nothing else. Honestly, the union busting itself was a dogshit move, but isn't the issue with these accidents. The railroads being publicly traded and government corruption are why tracks are in a terrible state and why railroads aren't operating efficiently.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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Bad Economic Predictions

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Leisher wrote: Mon Mar 06, 2023 12:36 pm Another train derails in Ohio.
Image
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TheCatt
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Bad Economic Predictions

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SVB and another bank fail; Others might be in trouble due to bank runs.

Little bit of chaos out there, but the Fed has stepped in to make sure that customers will not be harmed (not using "taxpayer money" but rather a fund paid for by existing banks, like FDIC); Bond holders and equity holders will be wiped out.

Fed's goal is to stop any more bank runs from happening, which is a good thing, imho.
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Post by GORDON »

BANDAID

BANDAID

BANDAID

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Post by Leisher »

TheCatt wrote: Mon Mar 13, 2023 9:57 am Fed's goal is to stop any more bank runs from happening, which is a good thing, imho.
I've seen quite a bit of finger pointing at the Fed that their constant interest rate bumping is why these banks failed.

Truth?
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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Bad Economic Predictions

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Leisher wrote: Mon Mar 13, 2023 11:13 am
TheCatt wrote: Mon Mar 13, 2023 9:57 am Fed's goal is to stop any more bank runs from happening, which is a good thing, imho.
I've seen quite a bit of finger pointing at the Fed that their constant interest rate bumping is why these banks failed.

Truth?
The correct finger to point would be at the banks who failed to take into account the possibility of the Fed raising rates in their securitization models. They had a gross mismatch between their deposit liquidity and their asset liquidity.
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Post by Leisher »

FYI, the articles I've seen on this were mostly CNN if politics matter here?

The biggest thing that was pointed out in the articles is that banks like SVB put huge money into treasury bonds, but when the fed raised rates, it basically made those bonds less valuable. They reported they were going to take a big hit as they sold those bonds at a loss, Wall St got wind, and everything came crashing down.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
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Bad Economic Predictions

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Leisher wrote: Mon Mar 13, 2023 1:25 pm FYI, the articles I've seen on this were mostly CNN if politics matter here?
There are voices on the left and right yelling at the Fed for raising rates, so I don't know that this one is neatly political.
Leisher wrote: Mon Mar 13, 2023 1:25 pm The biggest thing that was pointed out in the articles is that banks like SVB put huge money into treasury bonds, but when the fed raised rates, it basically made those bonds less valuable.
Yes, that's how it goes.

They had locked up money into multi-year bonds, but had deposits that people could take out in a single day. Liquidity mismatch. What's interesting is just how fast people can move/act, causing the failures. No one wanted to be caught with their money locked up.
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Post by GORDON »

For the record, a bank bailout for clients who have >250,000 in the bank is a great look as we're on the edge of telling poor college student to go fuck themselves on their school loan bailouts.
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Post by Leisher »

GORDON wrote: Mon Mar 13, 2023 1:42 pm For the record, a bank bailout for clients who have >250,000 in the bank is a great look as we're on the edge of telling poor college student to go fuck themselves on their school loan bailouts.
Those students CAN go fuck themselves.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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Post by GORDON »

But people who knew the federally protected bank limit deserve a bailout?

All.im saying is why the preferential bailouts for the people who kinda don't need it.
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Post by Leisher »

GORDON wrote: Mon Mar 13, 2023 2:09 pm But people who knew the federally protected bank limit deserve a bailout?
They can go fuck themselves too.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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