‘Tears me up’ Wesley Stenzel Kareem Abdul-Jabbar It was either talk about the dumb-ass state of Arizona where I now live. Or Kareem talking about why Dwayne he is not endorsing Joe Biden again. SUMMARY: Dwayne Johnson endorsed Joe Biden during his 2020 election campaign — but now he says he regrets that decision, and won’t be making political […]

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Gold Has Set Historic Highs this Year as the Federal Reserve Has Reported Historic Losses

By Pam Martens and Russ Martens: April 17, 2024 ~ According to Federal Reserve data, for the first time in its history, the Fed has been losing money on a consistent basis since September 28, 2022. As of the last reporting date of April 10, those losses came to a cumulative $162.9 billion. As the chart above from the Fed indicates, the monthly losses thus far in 2024 have ranged from a high of $13.4 billion in January to $5.5 billion in March. We are not talking about unrealized losses on the debt securities the Fed holds on its balance sheet, which it acquired under its various Quantitative Easing programs. (The Fed does not mark to market the gains or losses on those securities on the basis that it plans to hold them to maturity.) We’re talking about real cash operating losses the Fed is experiencing from earning approximately 2 percent interest on … Continue reading →

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Ancient lone elm the Last Ent is ‘guardian’ to new trees, msn.com/BBC This kind of kool and interesting. An ancient lone wych elm whose remote Highland location has protected it from Dutch elm disease has been joined by dozens of seedlings for the first time in hundreds of years. The elm – dubbed the Last […]

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 – by New Deal democrat The Bonddad Blog Industrial production, one of the premier series the NBER has historically used to declare recessions vs. expansions, has faded in importance since China was admitted to regular trading status in 1999. As you can see in the first graph below, both total and manufacturing production peaked in […]

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by Clare Pastore The Conversation A small city in Oregon with one homeless shelter is enforcing a local anti-camping law. Enforcing it against people sleeping in public using a blanket or any other rudimentary protection against the weather. Enforcing it even if there was nowhere else to go. By taking up City of Grants Pass v. Johnson, […]

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 – by New Deal democrat The Bonddad Blog There was a big decline in housing starts last month, and a smaller but significant decline in permits. Whether that signifies a change in trend or just noise is the issue. I lean towards the latter. To wit, in reaction to both January and Februarys’ housing construction report […]

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Stanford Finance Professor Anat Admati Is Making Jamie Dimon Very Nervous – Again Calling His Bank “Dangerous”

By Pam Martens and Russ Martens: April 16, 2024 ~ Stanford Finance Professor Anat Admati has been valiantly attempting to save the American financial system from the corrupting influence and disinformation campaigns of men like JPMorgan Chase’s Jamie Dimon for more than a decade. Her voice is gaining traction and that’s making Dimon very nervous. Dimon has admitted in his recent letter to shareholders that his federal banking regulators want the bank to raise 25 percent more capital. Making banks hold more equity capital (as opposed to debt) is an issue that Admati has made a central focus of her arguments for years. Dimon’s bank would have a lot more equity capital if Dimon had retained the bank’s earnings each year instead of tapping those earnings to boost the bank’s stock price by using $117 billion of the bank’s earnings for share buybacks over the past decade. (Retained earnings add to a … Continue reading →

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Most students who attend medical school in the US do so with student loans. Yes, some have military scholarships and some have wealthy parents, but most don’t. I’m guessing that most students reckon they’ll easily pay off the loans with the income that an MD or DO degree commands, and so far, they’ll be right. […]

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Suzanne Blake Newsweek Nothing unique here. Just another Texas screwup while trying to eliminate people from state and federal programs. The problem being they mistakenly injure the innocents. No problem though, it happens in other states or so Texans claim. Hundreds of Texas seniors lost their Medicare benefits after Texas Health and Human Services made an error in the […]

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by Steve Roth Wealth Economics Matthew Klein and Joey Politano have been singularly responsible in their discussions of “excess saving” in the covid era — not least by always putting that term in “so-called” quotes. It’s saving in excess of what would have happened if pre-covid linear trends had continued (with the trend based on some chosen range of preceding quarters or years). […]

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