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bernorange

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Posts posted by bernorange

  1. FWIW:

    Quote

    ... Consider General Electric Co. (GE), which was one of the non-tech darlings of the late 1990s. Jack Welch, who was regarded as the superstar CEO of the day, demanded that division managers become either No. 1 or 2 in their business lines. If it failed to achieve those goals, the division was either shut down or sold.

    Division managers who couldn't make the numbers tried the old trick of financialization: GE would lend a customer money to buy its products and round-tripped the funds to inflate sales. The maneuver worked so well that GE Capital was born. GE Capital, in its efforts to achieve top-two status in its industry, lent to anything that moved. It wasn't just aircraft engines, but emerging-market loans and subprime mortgages. GE Capital became bigger than the industrial divisions of the company and eventually blew up; GE CEO Jeff Immelt announced the divestment of GE Capital in 2014, and eventually its parts were sold off over the next two years.

    Today's tech giants are buying equity in companies and round-tripping the funds to boost sales.

    It's happening again. Instead of vendor financing, today's tech giants are buying equity in companies and round-tripping the funds to boost sales. Amazon.com Inc.'s (AMZN) investment in Anthropic and Nvidia's investment in CoreWeave are just two of the most visible examples of financialization. ...

    https://www.morningstar.com/news/marketwatch/20240302292/nvidia-and-other-ai-fueled-tech-stocks-are-heading-for-a-magnificent-exuberance-bubble

  2. Quote

    Russia and Ukraine were firing up to 60,000 artillery shells a day at one point in their war, and the daily average was roughly 12,000 shells during this spring’s lull in U.S.-backed supplies to Ukraine.

    The result has been a global shortage of gunpowder, which is beginning to affect prices for private U.S. consumers.

    Alliant Powder, which has supplied smokeless powder to private consumers to reload their ammunition, has suspended sales and canceled outstanding orders, AmmoLand reported.
    ...
    Global conflicts, particularly the Russia-Ukraine war, have spiked demand for gunpowder, but the U.S. has limited capacity to produce explosive nitrocellulose and gunpowder.

    Some reports say that China, a major global supplier of nitrocellulose, has restricted shipments to the U.S.

    The result is several β€œpinch points” that limit what the U.S. can produce.
    ...
    He said plenty of ammunition is still available to the commercial market but prices are increasing.
    ...

    More:

    https://www.washingtontimes.com/news/2024/jun/3/chinese-restrictions-ukraine-war-crimp-us-gunpowde/

    Β 

  3. Wordle 1,089 6/6

    ⬜⬜🟨⬜🟨
    ⬜🟨⬜🟨🟨
    🟨⬜⬜🟩🟩
    🟨⬜🟩🟩🟩
    ⬜🟩🟩🟩🟩
    🟩🟩🟩🟩🟩

    Stairway to failure.Β  Oof.

    Daily Quordle 870
    7️⃣6️⃣
    5️⃣4️⃣
    m-w.com/games/quordle/
    ⬜⬜⬜🟨🟩 ⬜⬜⬜⬜🟨
    ⬜⬜🟩⬜⬜ ⬜⬜⬜⬜🟨
    🟨⬜⬜⬜⬜ ⬜🟩⬜⬜🟨
    ⬜🟨⬜⬜⬜ ⬜⬜⬜⬜⬜
    ⬜⬜⬜⬜⬜ ⬜🟨🟨🟨⬜
    ⬜⬜⬜🟨⬜ 🟩🟩🟩🟩🟩
    🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

    ⬜⬜⬜⬜⬜ ⬜⬜🟩⬜⬜
    ⬜⬜⬜⬜🟨 🟨⬜🟨⬜⬜
    ⬜🟨🟨⬜🟨 ⬜⬜🟨🟨⬜
    🟩⬜⬜⬜⬜ 🟩🟩🟩🟩🟩
    🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

    Daily Sequence Quordle 870
    5️⃣6️⃣
    7️⃣8️⃣
    m-w.com/games/quordle/
    ⬜🟩⬜⬜⬜ ⬜⬜⬜🟨⬜
    ⬜⬜⬜⬜⬜ 🟨🟨⬜⬜⬜
    ⬜⬜⬜⬜🟨 🟨⬜⬜⬜⬜
    ⬜🟩🟩⬜⬜ ⬜⬜⬜⬜⬜
    🟩🟩🟩🟩🟩 ⬜⬜⬜🟨⬜
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ⬜⬜⬜⬜⬜ 🟩⬜⬜⬜⬜
    🟩⬜⬜⬜⬜ ⬜⬜🟨⬜⬜
    ⬜🟨⬜🟨🟨 ⬜⬜⬜🟨🟨
    ⬜⬜🟨⬜⬜ ⬜⬜🟩⬜⬜
    ⬜⬜🟨⬜⬜ ⬜⬜🟩🟩⬜
    ⬜⬜⬜🟨⬜ 🟨⬜⬜⬜⬜
    🟩🟩🟩🟩🟩 ⬜🟨⬜⬜🟩
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ClickWord.org Daily 494: 866 points (top 1% πŸš€)
    9 words:
    βš›οΈβš›οΈβš›οΈπŸŸ§πŸŸ§πŸŸ§πŸŸ§πŸŸ§πŸŸ¨
    πŸ’ͺ Best word: 440 points
    πŸ”₯ Streak: 11 days 🐭

    #ClickWord #ClickWordDaily494

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  4. * bump *

    Some key items of note happening lately that pertain to issues raised in this thread:

    • KSA has joined the BIS sponsored/developed mBridge payment rail with China and the UAE.Β 
    • KSA has joined the BIS sponsored/developed mBridge payment rail with China and the UAE.Β 
      Quote

      Saudi Arabia has joined a China-dominated central bank digital currency cross-border trial, in what could be another step towards less of the world's oil trade being done in U.S. dollars.

      The move, announced by the Bank for International Settlements on Wednesday, will see Saudi's central bank become a "full participant" of Project mBridge, a collaboration launched in 2021 between the central banks of China, Hong Kong, Thailand and the United Arab Emirates.

      The BIS, a global central bank umbrella organisation which oversees the project, also announced that mBridge had reached "minimum viable product" stage, meaning it will move beyond the pro type phase.
      ...
      "The most advanced cross-border CBDC project just added a major G20 economy and the largest oil exporter in the world," said Josh Lipsky, who runs a global CBDC tracker, opens new tab at the U.S.-based Atlantic Council.

      "This means in the coming year you can expect to see a scaling up of commodity settlement on the platform outside of dollars – something that was already underway between China and Saudi Arabia but now has new technology behind it."

      The mBridge transactions can use the code China's e-yuan is built on. That code is also available to the project's 26 other "observing members" that include the likes of the New York branch of the Federal Reserve, the International Monetary Fund and European Central Bank.

      The BIS also said the mBridge platform was now compatible with the Ethereum Virtual Machine - a piece of software that forms the backbone of the network used by the Ether cryptocurrency.
      ...

      https://www.reuters.com/technology/saudi-arabia-joins-bis-led-central-bank-digital-currency-trial-2024-06-05/#:~:text=Future of Money-,Saudi Arabia joins BIS- and China-led,central bank digital currency project&text=LONDON%2C June 5 (Reuters),being done in U.S. dollars

    • The security agreement between the USA and KSA that is (or has been) the lynchpin of the petrodollar quid pro quo has expired and our disfunctional Senate stands in the way of a new agreement (arguing over dictating Israel policy to KSA)

    • The kooky goldbugs at the BIS published a paper today that states:

      Quote

      ... When private holders have access to alternative forms of money and other financial claims, fiat money needs to command unquestioned trust on the part of the private holders. While network effects will preserve support from private financial entities, erosion of trust could shift the economy closer to potential β€œtipping points” when holders abandon domestic money in favor of alternatives, whether they are metal coins in the 1700s or other reserve fiat currencies or crypto stablecoins in the modern era ...

      https://www.bis.org/publ/bppdf/bispap146.pdf

  5. FWIW, the CABIA ad:

    https://cabia.org/app/uploads/240604_CABIA_USATodayAd_InMemoriam-1.pdf

    clearly cites the Hoover Institution (from Stanford U) as the source for their claims/quote.Β  Here's the Hoover Institute's page in the issue:

    https://www.hoover.org/research/california-loses-nearly-10000-fast-food-jobs-after-20-minimum-wage-signed-last-fall

    You likely need to contact them directly if you want more details on how they tabulated their numbers.Β  Surly sure does love ad hominems these days.

  6. Wordle 1,087 5/6

    ⬜⬜⬜⬜⬜
    ⬜⬜🟨⬜⬜
    🟩🟩🟩🟩⬜
    🟩🟩🟩🟩⬜
    🟩🟩🟩🟩🟩

    Well, that was ... unfortunate.

    Daily Quordle 868
    5️⃣7️⃣
    6️⃣4️⃣
    m-w.com/games/quordle/
    ⬜⬜🟨⬜🟩 ⬜⬜⬜⬜⬜
    ⬜⬜⬜⬜⬜ ⬜⬜⬜🟨⬜
    ⬜🟨🟨⬜⬜ ⬜🟩⬜🟨⬜
    ⬜⬜⬜⬜⬜ ⬜⬜⬜🟨⬜
    🟩🟩🟩🟩🟩 🟨⬜⬜⬜⬜
    ⬛⬛⬛⬛⬛ ⬜⬜🟨⬜🟩
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ⬜⬜⬜🟨⬜ ⬜⬜⬜🟨⬜
    ⬜⬜⬜⬜⬜ ⬜⬜⬜🟩🟩
    ⬜🟨🟨🟨⬜ 🟨⬜⬜⬜⬜
    ⬜⬜🟨⬜⬜ 🟩🟩🟩🟩🟩
    🟨⬜⬜🟨⬜ ⬛⬛⬛⬛⬛
    🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

    Daily Sequence Quordle 868
    4️⃣5️⃣
    6️⃣7️⃣
    m-w.com/games/quordle/
    ⬜🟩🟨⬜⬜ ⬜🟨⬜⬜🟩
    ⬜⬜⬜⬜⬜ ⬜🟩⬜⬜⬜
    🟨⬜⬜🟨⬜ ⬜⬜🟨⬜🟨
    🟩🟩🟩🟩🟩 ⬜🟨⬜⬜⬜
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ⬜⬜⬜⬜⬜ ⬜🟨⬜⬜⬜
    ⬜⬜🟨⬜⬜ ⬜⬜⬜⬜⬜
    🟨⬜⬜⬜⬜ ⬜🟨⬜⬜🟩
    ⬜⬜🟨🟩⬜ ⬜🟨🟩⬜⬜
    ⬜⬜⬜⬜⬜ ⬜⬜🟨🟨⬜
    🟩🟩🟩🟩🟩 🟨⬜⬜⬜⬜
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    Weekly Quordle Challenge 51
    8️⃣5️⃣
    7️⃣9️⃣
    m-w.com/games/quordle/
    ⬜⬜⬜⬜⬜ ⬜🟩⬜⬜⬜
    ⬜⬜⬜⬜🟨 🟩⬜⬜🟨⬜
    ⬜🟨⬜🟨🟨 ⬜⬜⬜⬜⬜
    ⬜⬜⬜⬜⬜ 🟩🟩🟩⬜⬜
    ⬜⬜⬜⬜🟩 🟩🟩🟩🟩🟩
    ⬜⬜🟨⬜🟩 ⬛⬛⬛⬛⬛
    🟩⬜⬜⬜🟩 ⬛⬛⬛⬛⬛
    🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

    🟨🟩⬜⬜⬜ ⬜⬜⬜⬜⬜
    ⬜⬜⬜⬜⬜ 🟨⬜🟨⬜⬜
    ⬜⬜⬜⬜🟨 🟩⬜⬜⬜🟨
    ⬜🟩⬜⬜⬜ 🟨⬜⬜⬜⬜
    ⬜🟩⬜⬜🟩 🟨⬜⬜⬜🟨
    🟨🟩🟨🟩🟩 ⬜⬜🟩⬜🟨
    🟩🟩🟩🟩🟩 🟨⬜⬜⬜🟨
    ⬛⬛⬛⬛⬛ 🟨⬜⬜⬜🟨
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ClickWord.org Daily 492: 849 points (top 5% πŸ†)
    12 words:
    β™ΎοΈβš›οΈπŸŸ₯πŸŸ₯🟧🟧🟧🟨🟨🟩🟩🟩
    πŸ’ͺ Best word: 520 points
    πŸ”₯ Streak: 9 days 🐭

    #ClickWord #ClickWordDaily492

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  7. Quote

    Today, the California Business and Industrial Alliance (CABIA) will run aΒ full-page adΒ in the statewide edition ofΒ USA TodayΒ showcasing the detrimental impact of California’s recent minimum wage hikes for fast-food restaurants. The ad lists out the mock β€œobituaries” of restaurants that have been harmed. It also calls out Governor Newsom for signing California Assembly Bill 1228 into law, which includes a $20 per hour minimum wage for fast-food workers, and establishes a fast-food regulatory council with the authority to raise the industry’s minimum wage annually.

    Since AB 1228 was signed into law last September, California fast-food restaurants have cut nearly 10,000 jobs, representing a 1.3 percent change from September 2023. The ad highlights numerous fast-food chains across California that have been forced to raise prices, lay off workers, and shut down stores, creating a wave of concern throughout the Golden State’s business landscape. ...

    https://cabia.org/full-page-ad-calls-out-governor-newsom-highlights-victims-of-recent-minimum-wage-hike/

    Β 

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