gehringer_2 Posted June 25 Posted June 25 (edited) 22 minutes ago, Deleterious said: LOL - I get the resource play but why would you want to let any of that terrible management culture into your room? I'll grant it's been a few years now but I can tell you it wasn't just the headline stories, From first hand experience working in their facilities I'd say that the catastrophes were no accident. BP was the worst operator in the oil field at every level. Strikes me as having a similar potential to turn out like what happened when the M/D people moved into Boeing. Edited June 25 by gehringer_2 Quote
Deleterious Posted June 26 Posted June 26 Powell stuck it in Trump yesterday when he testified in front of Congress. Paraphrasing. He said they would have already cut rates had there been no tariffs. But they can't because they all feel inflation is coming due to them. Figured that would elicit a response from Trump. It did. Quote
gehringer_2 Posted June 26 Posted June 26 1 hour ago, Deleterious said: Powell stuck it in Trump yesterday when he testified in front of Congress. Paraphrasing. He said they would have already cut rates had there been no tariffs. But they can't because they all feel inflation is coming due to them. Figured that would elicit a response from Trump. It did. He talks about debt service, but the other half the equation is that if you want to deficit spend (Trump does) then you don't care about inflation because you get to pay back your debt with devalued dollars. And Trump will just claim inflation numbers are fake news or worse, gut BLS so there are no numbers and MAGA will slurp it up like everything else, because that's what cults do. Quote
Deleterious Posted June 26 Posted June 26 Disappointed with the Journal here. Not a single mention of the fact the Fed Chair has to come from one of the seven governors. Adriana Kruger is done January 31st, so nothing can happen until then. I suppose he could announce her replacement and mention he will also be his pick for Fed Chair. Even then, nobody is going to care if he names someone early. He won't assume any power until Powell is done at the end of his term in May. Trump Considers Naming Next Fed Chair Early in Bid to Undermine Powell Quote President Trump’s exasperation over the Federal Reserve’s take-it-slow approach to cutting interest rates is prompting him to consider accelerating when he will announce his pick to succeed Chair Jerome Powell, whose term runs for another 11 months. In recent weeks, the president has toyed with the idea of selecting and announcing Powell’s replacement by September or October, according to people familiar with the matter. One of these people said the president’s ire toward Powell could prompt an even-earlier announcement sometime this summer. Trump is considering former Fed governor Kevin Warsh and National Economic Council director Kevin Hassett, according to people familiar with the matter. Treasury Secretary Scott Bessent is being pitched to Trump by allies of both men as a potential candidate, some of these people said. Other contenders include former World Bank President David Malpass and Fed governor Christopher Waller. Quote
gehringer_2 Posted June 26 Posted June 26 I gave up on 'the Journal' 25 yrs ago. Have pretty much given up on the NYT, the local rags are but shadows of what they used to be, and Reuters now has a pay wall. Cable news is a wasteland, social media is run by algorithms that don't care about accuracy or truth. WaPo likes to say democracy dies in darkness - it's already gotten damn dim. Quote
Hongbit Posted June 26 Posted June 26 Those speculated names are nice but our next Fed Chair is definitely coming from Fox Business Channel. Quote
Tiger337 Posted June 26 Posted June 26 I personally like the higher interest rates. It makes it easier for me to invest in bonds and not be so invested in the Wall Street casino. Quote
Deleterious Posted June 27 Posted June 27 Loans on commercial property are different than homes. 10 year term on 30 year amortization. Which means at 10 years you have a balloon payment on the balance or refinance it. I wonder if some of his property is coming up on that. Lower interest rates would save him some money. Quote
Tiger337 Posted June 28 Posted June 28 On 6/26/2025 at 8:52 AM, Hongbit said: Those speculated names are nice but our next Fed Chair is definitely coming from Fox Business Channel. You don't think the president will follow the rules? Quote
Deleterious Posted Wednesday at 04:46 PM Posted Wednesday at 04:46 PM Bad print and still up 5% today. My new investment strategy is to liquidate every last thing I own. Then just constantly buy Tesla calls with a strike date right after earnings. Quote
Hongbit Posted Thursday at 02:20 PM Posted Thursday at 02:20 PM New month, same rant. It’s so misleading to refer to this as our unemployment rate. They are preliminary, unadjusted, employment numbers from June. We will get a more accurate picture on what the numbers really should be next month and won’t know the actual number until next February due to our antiquated and easily manipulated survey system from BLS. Side note, this is terrible news for Dear Leader’s calls for a Fed Rate cut. 1 Quote
Hongbit Posted Thursday at 03:30 PM Posted Thursday at 03:30 PM (edited) This is much funnier than my last post since you are in a laughing mood. Edited Thursday at 03:37 PM by Hongbit 1 Quote
Tigeraholic1 Posted Thursday at 03:44 PM Posted Thursday at 03:44 PM I mean they downgraded revised employment numbers almost every month during Bidens term. Trumps have all been upgraded so far.... 🤣 Quote
Tiger337 Posted Thursday at 03:59 PM Posted Thursday at 03:59 PM Other than the Covid period, we have had strong employment throughout the Biden and both Trump presidencies which probably doesn't say much about either of them. 1 Quote
Deleterious Posted Thursday at 04:49 PM Posted Thursday at 04:49 PM Most of our applicants are coming from the service industry right now. When things go south we usually see a strong uptick of applicants from other industries as they are getting let go. I realize that isn't exactly scientific. Quote
1984Echoes Posted Thursday at 05:23 PM Posted Thursday at 05:23 PM 1 hour ago, Tiger337 said: Other than the Covid period, we have had strong employment ... Since Obama 2011. Everyone else is just riding Obama's coattails... Quote
Tiger337 Posted Thursday at 05:28 PM Posted Thursday at 05:28 PM 2 minutes ago, 1984Echoes said: Since Obama 2011. Everyone else is just riding Obama's coattails... Unemployment was close to 9% in 2011 (not his fault of course). It went down rapidly throughtout his presidency, but it didn't get down under 6% until 2015. Quote
1984Echoes Posted Thursday at 05:49 PM Posted Thursday at 05:49 PM (edited) 21 minutes ago, Tiger337 said: Unemployment was close to 9% in 2011 (not his fault of course). It went down rapidly throughout his presidency, but it didn't get down under 6% until 2015. Right... But I'm talking about monthly employment numbers, increase average per month, not the "level" or "rate" of unemployment. If you look at a chart showing monthly numbers since Obama: The monthly gains in employment are massive starting the end of 2011, I think August IIRC. November/December 2011 added 500K I believe. 2012 monthly gains (average): 153K. 2013: lower at 36K, 2014: 260K avg per month. To your point on unemployment rate: The unemployment rate goes steadily down from 2010 until Trump's midway point first-term... It's almost a straight line (tilted downwards) from Obama until the pandemic (no one's fault...). BTW: When Obama left office the unemployment rate was 4.2%. Hmmm... where is it now I wonder...? Trump did NOT fundamentally change the economy his first term. THIS term... well, we'll see where his "tariff wars", expulsion of immigrant labor, reshoring of manufacturing, etc... leaves us. We will no longer be in Obama's Economy once Trump is done. Right now... I would call it a "transition period" from Obama's to Trump's economy. Edited Thursday at 05:49 PM by 1984Echoes Quote
Tiger337 Posted Thursday at 05:51 PM Posted Thursday at 05:51 PM 1 minute ago, 1984Echoes said: Trump did NOT fundamentally change the economy his first term. Correct! He inherited a strong economy. 2 Quote
Deleterious Posted 1 hour ago Posted 1 hour ago A few days ago, someone sold 10,000 Bitcoin @ $109,246 each. Someone traced their original purchase back 14 years ago. They bought all 10,000 for $0.78 each. $7,800 initial investment and cashed out for $1.1 billion. Quote
Deleterious Posted 1 hour ago Posted 1 hour ago (edited) I was wrong. He had different wallets. 80,000 bitcoin total. I can't even imagine holding it that long. I would have sold every single one by the time Bitcoin hit $100 if I bought at 78 cents. Smart to use different wallets. Edited 1 hour ago by Deleterious Quote
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