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washparkhorn

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Everything posted by washparkhorn

  1. Good PPI news. Also good news for Fed’s demand destruction plan was household debt rising in the face of high interest rates. Households are running out of money and racking up credit card debt. From the Bloomberg: US household debt climbed at the fastest annual pace since 2008 in the third quarter, with credit-card balances surging even as the interest rates that lenders charge to consumers hit a multi-decade high. Households added $351 billion in overall debt last quarter, taking the total to $16.5 trillion, according to data released by the Federal Reserve Bank of New York on Tuesday. That’s an increase of 8.3% from a year earlier, the most since a 9.1% jump in the first quarter of 2008. The debt figures aren’t adjusted for inflation. Happy days are here again - JPow. ————— bad news - Russian missiles land in Poland killing 2. Article 5 risk for NATO/economy.
  2. The question is a good one because it recognizes the fiscal tools for combating inflation are far more precise than the Fed’s interest rate hikes, which create massive collateral damage. That said, there is no political appetite to use those precision fiscal tools. And since the Fed has a mandate to combat inflation, the politicos gladly defer to the Fed to do the dirty work.
  3. Beto brought out crowds, but not votes. DFW and Houston turnout was dismal. Some of that is Biden (who was largely neutral in most states aside from Texas and Florida where he was an anchor for Dems). Dems in Texas need a candidate to get out the vote to have a chance at replacing the embarrassingly awful Ted Cruz in 2024. If Biden is at the top of the 2014 ticket, no need to waste Dem money on Texas.
  4. https://worldnewsera.com/news/finance/stock-market/ftx-collapse-puts-its-auditors-in-the-spotlight/
  5. FTX leaders spread the grift around; that’s how it’s done by the big boys. “Regulatory Capture” is the term. From the Bloomberg:
  6. Thank goodness for the youths . . .
  7. CBS News - 2022 Election (win or projected to win): 155 Republican election deniers in the new House. 9 in the Senate. 7 Governors. 5 AG’s. 2 Lt. Govs. 3 Secretaries of State. The Clown Car is still bursting at the seams. Repubs will lick his boots again.
  8. The job is not done. Re-elect Warnock and give Sinema an ambassadorship.
  9. What a dope.
  10. RIP - one of his last political posts:
  11. Masters: Hold my 4Loko bruh . . . someone alert the pizza huts
  12. from @Firemans4Horn link above. If true, the “external auditors” will need to contact their E&O carriers, while preparing their backdoors for no lube at all.
  13. Ms. Wood feeling the mojo
  14. USD down/markets up (it takes more USD to buy securities priced in USD when USD loses value). Good luck.
  15. Wouldn’t it be nice . . .
  16. The dildo of consequences rarely comes lubed.
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