Wednesday 31 Aug 2022
Bill targeting Tesla’s ‘self-driving’ claims passes California Legislature - LA Times.
China Threatens To Destroy Elon Musk's Starlink - Zero Hedge.
"DEVELOPING: California power grid officials warn of blackouts, urge residents to conserve energy. “Set thermostats to 78 degrees or higher, avoid using large appliances and charging electric vehicles, and turn off unnecessary lights,”" - Twitter. ".... reduce energy use from 4-9 p.m. when the system is most stressed because demand for electricity remains high and there is less solar energy available".
"German 1y ahead Power Price has almost halved within 2 days from €1,050 per MWh to €545 today" - Twitter.
16-Year-Old U.S. Open Player Says Dad Will No Longer Pat Her Butt After Outcry - HuffPost.
It seems like everywhere outside the US, an investor must declare whether or not they are a US taxpayer to open an account. The US government hunts down its citizens wherever in the world they may be. That is what you call an oppressive regime.
Tuesday 30 Aug 2022
From 18 Aug: "Ireland launched a campaign against greedy landlords with rent control, 52% tax, no deductions, no evictions. They succeeded & landlords left the market in droves. Now there are 716 homes available to rent in the entire country and 150 queued for this one bed yesterday." Twitter.
Americans Believe in Wealth Redistribution. It is difficult to distribute wealth. The money the government takes out of the economy as taxes, is money people could have worked for. Instead it is distributed as free services or grants for which people do not have to work. The same money in circulation, and lower production only leads to inflation. Wealth can only be increased by working harder. If the same people who pay taxes receive government services that is different.
Tesla battery fire and crash were faked by insurance company in bizarre showcase - Electrek.
Monday 29 Aug 2022
Luke Wilson Thinks "Idiocracy's" Camacho Would Make A Good President | Conan O'Brien Needs A Friend - Youtube.
"Russia is exporting more crude than ever. Oil tankers are flagged all over the place to conceal ownership. We built a web crawler that goes from shell company to shell company to find the owner. Russia exports so much oil thanks to Greek-owned oil tankers." - Twitter.
"Russia pumps almost as much oil into the global market as it did before its invasion of Ukraine. With oil prices up, Moscow is also making more money." - WSJ - Twitter.
Justice Department in early stages of filing an antitrust lawsuit against Apple, says report - Techcrunch.
"Don't know who is this guy; but what he says is 100% true!" (politicians are not leaders) - Twitter.
Sunday 28 Aug 2022
It's now illegal for anyone under 21 to buy canned whipped cream in New York - Business Insider SA.
"JUST IN - Wien Energie, Austria's largest energy supplier, is insolvent — requires 1.7 billion euros to remain liquid, according to local media" - Twitter.
Blast from the past: Cassette player prices surge amid comeback - Nikkei Asia.
""Politicians are like bad horsemen who are so preoccupied with staying in the saddle that they can't bother about where they're going." -- Joseph A. Schumpeter" - Twitter. It is all about the large salary and benefits.
Saturday 27 Aug 2022
"The worst flood ever in Pakistan happening right now. 33 mil people affected. 784% above normal rainfall." - Twitter. Asia often has monsoon rain, and typically flooding along rivers every time. List of floods in Pakistan.
In principle, if borrowers are negatively impacted by higher interest payment, the savers should benefit from more interest income. In an economy there are always two parties. It is only the printing of money by the government that is one-sided, which creates inflation.
From 12 Feb 2013: How Overpriced Were Stocks in 1929? - Crossing Wall Street. From 1929 to 1932 the earnings fell from 1.6 to 0.4, that is -75%.
A new Corporate Profit (blue) data point for Q2 is available, and profits have actually gone up, not down. Nominal GDP (red) is also up. Based on these two indicators, the rise in the Federal Funds Rate has achieved nothing so far. GDP represents total sales. The profit margin has improved to about 12%.
Friday 26 Aug 2022
Renewable Energy is Absolutely Crushing Fossil Fuels in 2022 - The Street. According to the EIA report capacity utilization was 91.5% for nuclear, 46.0% for coal, wind (summer capacity) 40%, gas 34.7% and solar 23.5%. A wind utilization of 40% means the wind blew at maximum speed 40% of the time, or halfspeed for 80% of the time. That is hard to believe. Wind supplied 11.7% of the power, and solar 5.0%. The gas capacity (495GW) is very high, as only 34.7% is utilized, that is because it is the back-up power for wind (137GW) and solar (100GW). Wind and solar are superfluous forms of energy that just adds to the cost.
Moderna sues Pfizer over COVID-19 vaccine patents - NPR. Can you sue some-one for copying a product that doesn't work?
"OUCH! French 1y ahead electricity price exceeds €1,000 per megawatt hour for 1st time. The German equivalent also gained to a record, hitting as high €829 a megawatt hour, capping a 48% gain this week." - Twitter.
"estimated content spend in 2022 $NFLX $AMZN $DIS $AAPL $WBD" - Twitter. The choice is far greater on Youtube. According to the interweb there are 800 million videos on Youtube, but most are probably never seen. Due to the Youtube algorithm, users have to search for specific subjects.
Odd statistic: YouTube by the Numbers: Stats, Demographics & Fun Facts - Omnicore: "61.5% of the most popular YouTube videos cannot be viewed in Germany".
"He got someone pregnant again" - Twitter.
Thursday 25 Aug 2022
NZ education 'not doing itself any favours' by considering adding 'Maori science' - Youtube.
California votes to ban new gas car sales by 2035 - CNN. How will the electricity be generated to charge the zero emmission vehicles? The state will look like Cuba – full of old cars.
This is the same state that made solar panels mandatory (Greenlancer). The solar panels heat the earth up by more than 5x the electricity generated. The same fossil fuel capacity is required as back-up for cloudy days.
"$92 per MMBtu natural gas in Europe - TEN TIMES the US price!" - Twitter. Europe is heading for a depression.
"Videos of employees at Tencent's Shenzhen office running away are making the rounds online. A full building lockdown is said to have been announced after a person tested positive for Covid-19." - Twitter. Why you don't operate businesses in autocratic countries. Democratic countries have less oppression.
"JUST IN - Putin signs a decree to increase the Russian armed forces by 137,000 to 1.15 million" - Twitter. That is how world wars start.
Train passenger stranded in undersea tunnel for 5 hours describes 'terrifying' journey 'into the abyss' - Business Insider SA.
Tesla demands removal of video of cars hitting child-size mannequins - Washington Post. "Musk and his lawyers get really, really upset when you post this video" - Twitter .
A high oil price is often associated with a US recession (grey band).
Wednesday 24 Aug 2022
Alexandra Marshall explains why she thinks wind, solar and battery power will be doomed by 2025 - Youtube.
"In April, Nancy Pelosi said Joe Biden does not have the power to cancel student loan debt. What has changed in 4 months?" - Twitter. The word "forgive" implies that the borrower committed a sin by taken out a loan.
Biden forgives student loans for millions of Americans - Reuters. Governments punish the productive people through taxes, and reward the lazy with free benefits. They punish savers and reward borrowers.
"UK money printing has gone through the roof. The Bank of England’s reserve balance, which is increased to finance quantitative easing - £954 billion on 17 August - an increase of almost £500bn since January 2020. This isn’t sustainable. It devalues and causes inflation." - Twitter.
FRED has a chart of Bank of England Balance Sheet relative to Gross Domestic Product from 1701 to 2016. It is now about £954B/~£2800B = 34%.
Tuesday 23 Aug 2022
German power price jumps 25% after new energy worries - Energy Watch.
Monday 22 Aug 2022
"JUST IN - US natural gas prices hit 14-year record high" - Twitter.
How fast does the tip of a wind turbine go? - Quora: "wind turbine blade maximum tip speed is between 80 and 90 meters per second. That's 179 to 200 mph." That explains: Windfarms kill 10-20 times more than previously thought - Windmillskill. "Note 1: our entire webpage was destroyed. We are reconstructing it. Given time, we will put back all the articles with all the links to reference material."
"Shocker! Test Shows Physical Buttons Are Less Time-Consuming in Cars Than Touchscreens" - Twitter.
"Even before the drought #China had a severe water problem in certain regions, now look at the Yangtze River. CATL, the world's largest battery maker has suspended production due to the lack of hydropower" - Twitter.
Kim Kardashian, Kevin Hart and Sylvester Stallone accused of drought restriction violations - LA Times.
Sunday 21 Aug 2022
Lakes and rivers in Germany, Italy, France, Spain, China and US run dry as drought and water shortages grip Northern Hemisphere - Abc News.
"In 2010 Congress passed the Foreign Account Tax Compliance Act, which was supposed to identify wealthy Americans using undisclosed foreign accounts. Congress’s Joint Committee on Taxation said this would raise some $9 billion in revenue by fiscal 2020." .... "Yet an April Tigta audit noted that while the IRS has spent $574 million to implement the law, the agency has drummed up only $14 million in compliance revenue." - Twitter. Wealthy investors are able to adjust their strategy. All this achieves is more emigration.
How Trees Grow from Carbon Dioxide and Water - Earth How. "A common misconception is that trees grow only using the contents of the soil". About 50% of the dry weight of a tree is carbon, which is pulled out of the air.
Saturday 20 Aug 2022
"Torrential rains eased in New Zealand's northern and central regions after four days of downpours forced hundreds of people from their homes. There were 100 new evacuations overnight" - Twitter.
Sweden condemned apartheid in South Africa: International sanctions during apartheid - Wikipedia: "While international opposition to apartheid grew, the Nordic countries, and Sweden in particular, provided both moral and financial support for the African National Congress (ANC)". This is the same ANC, former terrorist organisation, that now associates with Russia, Palestine, Cuba, and any country that opposes the West. Meanwhile what is happening in Sweden?
From 1 Aug 2022: Swedish minister calls for 50 percent cap on non-Nordic citizens in troubled areas - The Local Se.
From 13 Aug 2022: Gang crime looms over election in Sweden as shootings spread - Japan Today. "It is one of 61 areas in Sweden, all with a high proportion of immigrants, listed by police as risk areas for rising gang violence". "So far this year, 44 people have been shot dead in Sweden, almost all of them in connection with suspected gang crime, according to police. That compares to 46 for all of 2021".
From 3 Aug 2022: Sweden becomes the first EU country to declare Islamists alien - TFI Global News.
Friday 19 Aug 2022
Shock Video: Street Mob Swarms and Ransacks 7-Eleven in Lawless Los Angeles - US24News. Those looters are innocent children of nature.
The world's second biggest movie theater chain is in trouble - CNN.
"In 1971 then #US President Nixon took the US #dollar off the #gold standard when he ended the convertibility of the dollar into gold. With the link to gold broken, there followed decades of money supply expansion, causing the US dollar to lose 98% of its value from 1971 to now." - Twitter. Think of all the debt you could have written off through inflation.
Finnish prime minister takes drugs test after party video causes stir - Reuters. Is she combat ready for the war against Russia?
Jay Leno's Gas Crisis Solution | Behind the Scenes - Youtube.
A Complete Exploration Of Ancient Megalithic Easter Island - Youtube.
Thursday 18 Aug 2022
S&P 500 Decline To 3500 By Year-End If QT Continues - See It Market.
FBI's sealed evidence that led to search of Trump's home focus of court hearing - Reuters. "The Justice Department is investigating violations of three laws, including a provision in the Espionage Act that prohibits the possession of national defense information and another statute that makes it a crime to knowingly destroy, conceal or falsify records with the intent to obstruct an investigation". There are so many laws, they can always find something, otherwise known as "trumped-up charges".
Longtime Trump executive Weisselberg to plead guilty in tax fraud scheme - Reuters. "A grand jury last year indicted Weisselberg, 75, for concealing $1.76 million of "off-the-books" income". Why all the attention for such a small amount? US Federal Government debt is $30,400,940 million.
From 10 Aug 2022: Death Valley is WRECKED.
The southern hemisphere is unusually cold at the moment:
From 18 Aug 2022: Weather: Australia set to shiver as triple whammy cold fronts arrive - Yahoo News NZ.
From 17 Aug 2022: It is pretty cold in Cape Town – but not as miserable as in 1787 - Business Insider SA.
From 16 Aug 2022: Third La Niña winter might be headed for Seattle - Seattle Times.
From 21 Mar 2022: North America just suffered its coldest winter in years; spring equinox saw "winter-like cold" grip most of Europe - with Cyprus setting its lowest March temp on record - Electroverse.net.
From 5 Oct 2021: South Pole froze over in coldest winter on record - Live Science.
"Canada’s Real Estate Bubble Is So Big Households Need 64% of Income For A Mortgage" - Twitter.
In the US the average house price ($525,000) is 10.6x the average annual wage ($49,600 = $4140pm). At a 5.13% mortgage rate over 30 years with a 20% down payment, the mortgage payments would be 55% of the income.
Wednesday 17 Aug 2022
These 6 Amazing Charts Show the Future for Inflation - Youtube.
"EU imports of Russian energy" - Twitter. Apparently the EU is paying Russia more despite lower volume, because the price shot up.
"Remember when the pandemic meant companies where going to shift away from producing in China and that globalization was dead? Nope. Investment from Korea, United States, and Germany in China soared 37%, 26%, and 14% respectively in the first half of this year from a year ago." - Twitter.
"This is what a rigged economy looks like. On the same day a bill was signed into law to give a $76 billion blank check to micro-chip companies, Intel announced it will be cutting back on plans to increase jobs by $4 billion while increasing dividends for its wealthy shareholders" - Bernie Sanders, Twitter.
Inflation Reduction Act Passes! Let's Fact Check The Government's Claims - Youtube.
Your Pension and Social Security Could Be Gone - Youtube.
The US stock market (red) has a small effect on US pension funds (blue). The pension funds did not follow the stock market higher since 2016. The increasing value of the pension money over time is basically inflation.
The US number of Heavy Weight Trucks sold has increased little over 55 years. If you divide by the growing population, it would be a decline per person. Unless newer trucks last longer.
Tuesday 16 Aug 2022
"Though the bubbles typically collapse in not one, but a series of capitulations - each punctuated by a "fast, furious, prone-to failure" recovery - my impression is that investors are about to get a quick introduction to why this chart is popular among market historians" - Twitter.
"This is what a volcano eruption looks like from space" - Twitter. This is known to cool the earth down for a long time, probably because of the smoke seeding the clouds, which enhances the earth's natural cooling process.
EU natural gas price reached new high: Trading Economics.
Economy Pain - Mall Visit - Not Pretty - Housing Next - Youtube.
By far the biggest reason stock markets go up is inflation. The US economy is also dominated by monopolies that can arbitrary increase profits at the expense of the working class, but profit growth is ultimately limit by sales growth. Over the last few decades they have been able to keep costs down by using cheap Chinese labour. The benefits of cheap labour have probably peaked, especially with all the government subsidies for local manufacturing. Subsidies force the population to pay for expensive labour.
The recovery in the US stock market means the market does not believe the Federal Reserve will withdraw money supply to reverse inflation, but that price increases and profits will be permanently elevated to a new level. The US stock market (blue) matched total debt (red) as proxy for money supply and inflation until 1995. Since 1995 the stock market has beaten inflation a few times. The stock market needs to fall about -50% to return to inflation.
Monday 15 Aug 2022
"The Mexican National Guard was deployed in Tijuana after Cartel violence erupted over the weekend. On Saturday, Cartels hijacked and burned cars and buildings in the region. Take a look at the scene" - Steve Hanke, Twitter. "Six Misconceptions About Mexico" - Nomad Capitalist, Twitter.
Copyright scammers stole R374 million in YouTube music royalties - Mybroadband.
"Polkadot's DeFi Hub has been exploited. 1.288B aUSD have been created out of thin air. The coin lost 99% of its value in an instant." - Twitter.
From 9 Jul 2022: How inflation could affect 2023 tax brackets: You may get an unexpected ‘tax cut,’ in a way - Market Watch "As a result, the inflation adjustment factor for 2022 was only about 3.1%." ... "Let’s assume that the inflation adjustment factor for the 2023 tax year will be 7%". With actual inflation being much higher, all the money creation could provide the government with a tax windfall through bracket creep, although the raises for salary earners are probably limited.
From 12 Aug 2022: The IRS is not increasing audits on middle class by hiring 87K new agents - Verify.
Sunday 14 Aug 2022
Summer of extreme heat in the UK brings another wave of high temperatures - USA Today.
Get your blankets out: Freezing temperatures to hit Gauteng - The Citizen.
Saturday 13 Aug 2022
From 1 Aug: Driverless autonomous vehicle is now official in Shenzhen - Youtube. If this is real, China's autonomous driving will beat US systems, given the complexity of driving in China.
Total US debt per worker (red) is now $600 000, compared to average wage per workers (blue) of $73 800. That does not look good. Debt shot up further in 2020. Workers end up paying for most debt directly or indirectly.
US QE or Quantitive Easing (blue) looks small compared to total debt (green). It is significant relative to the official M2 money supply (red). If QE is withdrawn, the economy would mostly be the impacted by the higher interest rates required to balance the supply and demand for credit.
QE in the Euro zone (blue) is big compared to M3 money supply (red):
News channels say Trump had top secret information vital to the national security of the United States. Why would government entrust any president with such information? Does president Biden look like a trustworthy person? Nuclear documents - Twitter.
Friday 12 Aug 2022
Second-quarter earnings have been solid. Energy gets all the credit: Morning Brief - Yahoo. "According to data from FactSet, with over 87% of companies in the S&P 500 having reported earnings, the blended earnings growth rate for the index is 6.7% for the second quarter." "In fact, this growth rate of 6.7% would flip to a decline of 3.7% if energy were excluded from the index."
"I just filed articles of impeachment against Merrick Garland" - Rep. Marjorie Taylor Greene, Twitter.
My Predictions on The Stock Market - Housing Market - Inflation - Recession - Youtube.
"CNBC redefining a "pivot" as anything less than 75 bps going forward. Problem is the only time in U.S. history that the market bottomed in the midst of a rate-hike cycle was 1987, at a forward P/E below 10 and a price/revenue multiple less than a quarter of today's." - Twitter.
Some people are already thinking the US stock market fall is over. It has hardly began. Even if interest rates do not rise any further, the US economic recession will get worse, based on the past impact of interest payments at these levels. The Federal Reserve hasn't even began withdrawing QE (Quantitive Easing). Withdrawing QE will result in a depression.
A lot of wealth has been created by the rise in the US stock market, far beyond the economic output. The stock market can only stay at these levels by devaluing the currency, so that real wealth growth matches the real economic growth. Gains in the stock market or real estate above economic growth impoverishes those who do not hold the assets. Wealth can't be created with low interest rates and asset bubbles.
Ex US president Trump left office in January 2021. Only now did they realise nuclear documents were missing.
Attorney General Merrick Garland on FBI's Search of former President Trump's Mar-a-Lago Home - Youtube.
Here is an actual photo of ex president Obama and sitting president Biden with who appears to be Chief Judge Merrick Garland: Obama White House.
Wikipedia: "Donald Trump, a candidate in the 2016 Republican Party presidential primaries at the time of Scalia's death, declared his opposition to the Garland nomination when it was announced ...". "On Jan 21, 2021, Trump's newly inaugurated successor Joe Biden announced Garland's nomination to the post of US Attorney General, and after approval by the US Senate by a vote of 70-30, Garland was sworn into office on March 11."
Thursday 11 Aug 2022
The S&P 500 is only down -12.3% from its peak level. The market doesn't think that an Effective Federal Funds Rate of 2.33% is enough. Presumably the aim for a "soft landing" of the economy is to keep the increased money supply, which would make the inflation increases permanent.
Is the Great Reset Happening? - Robert Kiyosaki @Mark Moss - Youtube.
Xpeng G9 Interior Revealed, Can Add 124 Miles Of Range In 5 Minutes - InsideEVs. "the G9 is said to be the world's fastest-charging mass-produced EV, adding up to 200 kilometers (124 miles) of CLTC range in just five minutes"
People are endlessly discussing the fake inflation figures released by governments. The idea that politicians will be honest about the inflation they cause, and report a long term real economic decline, is ridiculous.
Walt Disney (DIS) results: Q3 revenue +26%, dEPS up from $0.50 to $0.79, or adjusted up from $0.80 to $1.09, price/earnings = $112.43/~4x$1.09 ~ 26, price/sales = $112.43/~4x$11.783 = 2.4.
"Price to Earnings Ratios..." - Twitter.
Peter Schiff predicts financial crisis worse than 2008, U.S. dollar to 'implode' (Pt 1/2) - Youtube.
Wednesday 10 Aug 2022
Greatest Crash Ever: Avoid Equities and Housing Until 2024, Harry Dent Doubles Down - Youtube.
"French nuclear giant EDF, forced to sell power to competitors below market value, is now suing the French government for over $8 billion in compensation" - Twitter. Socialism at work.
"FCC just shot down application by Elon Musk's Starlink to get subsidy to provide rural broadband internet, saying Starlink (and another applicant, LTD Broadband) 'failed to demonstrate (they) could deliver the promised service.' " - Twitter.
In a shocking development (not) US official inflation came out lower. "omg the Inflation reduction act is already working" - Twitter.
"Trump v Clinton in Court? Is this why Trump was raided by the FBI?" - Twitter.
"Europe's next big enemy: drought! Water levels in Europe's major rivers, including the Rhine, have dropped to record low levels, meaning ships simply can't get through. " - Twitter. Clean air = drought.
US set to sue Google over online ad dominance - Mybroadband.
Micron warning adds to evidence of collapsing chip demand - The Straits Times.
Heartbroken Scottish family deported from new home in Australia - News.com.au. Immigrants are only employed when nobody else is available. Immigrants need to be self-employed.
"U.S. consumers are relying more on credit cards as inflation bites their paychecks. NY Fed research shows households held a record $16 trillion in debt in Q2, a $2 trillion increase since before the pandemic." - Twitter. That woman is as tall as a double storey building.
Tuesday 9 Aug 2022
New treatment for a root cause of asthma proves promising in mice tests - New Atlas.
Baidu has China's first permits for fully driverless robotaxi services - New Atlas.
"Sri Lanka raises electricity prices by 264% effective at midnight…" - Twitter.
Los Angeles To Force Hotels To House Homeless With Empty Rooms - Youtube.
Economic Reduction & Inflation Expansion – Everything's Out-Of-Stock & Nothing Is Cheaper - Zero Hedge.
When government subsidizes production, like semiconductor integrated circuits (chips), who ends up paying for it? The end users of those cheaper products receive a benefit for which they do not have to work. The same money in circulation, and lower economic output, results in inflation. The population will have cheaper electronics, but will pay more for other products because their production declines. To fund the subsidy, the government either prints money or raises taxes, both lead to inflation.
Monday 8 Aug 2022
Turns suburban barren lot into high-yield Microfarm & YT studio - Youtube.
Medicare Drug Costs to Be Capped at $2,000 a Year in Inflation Reduction Act - Market Watch. "Starting in 2023, drug makers that increase their prices above the rate of inflation would have to pay a fine to the Medicare program." That is the inflation rate the government decides on. The drug makers will have to add the fine to the increased price.
"After hearing some disturbing things about the new electic vehicle (EV)/"clean" vehicle tax credit and not being satisfied by news reports on it, I decided to read the bill for myself. Will summarize my understanding of it here. This isn't normally my thing, don't rely on this ...." - Twitter. Laws are deliberately made complicated so the political representatives don't know what they are voting for.
"The FT’s examination of China's Belt & Road Initiative uncovered a MOUNTAIN of useless loans. Pres Xi's “project of the century” faces a tidal wave of defaults. The BRI turned out to be a recipe for vanity projects, white elephants, debt traps & corruption." - Steve Hanke, Twitter.
"Pretty much every fast food and service station on I95 from Maine to Massachusetts has a help wanted sign. The rotation from higher to lower paying jobs may take a while." - Twitter. The printing of money can either lead to inflation or economic growth. If labour shortages result in more automation, that would be real economic growth. In reality the increase in money is so close to inflation that automation appears to have little effect.
"As I forecast, #Democrats now intend to shake down small business owners, the self-employed, side-hustles, gig workers, and #crypto traders, in an effort to force the little guy to pay an additional $200 billion in taxes, interest and penalties. The #Inflation "Reduction" Act,.." - Peter Schiff, Twitter.
From 29 July 2022: 'Inflation Reduction Act': What you need to know about major effort to fight climate change - USA Today.
"They say the bill will pay for itself". This scam is very old: How “Voodoo” Caused Most of the National Debt.
"Over $60 billion to support U.S. clean energy manufacturing, including $30 billion in incentives for wind, solar and battery production". The clean energy raises global temperatures, by not seeding the clouds with smoke. Rain is required for the earth's natural cooling mechanism, and for plants to grow that absorb the carbon dioxide. Wind requires continuous back-up power, because the wind can stop blowing any moment. Batteries only provide enough time to start the gas turbines. Solar panels turn 80% van the sun's energy into heat.
With the US subsidy for solar power, China will have to lower their prices to compete. There will be an oversupply. This will be great for everybody outside the US. We have seen this before. US imports will decline, the US dollar strengthen, and exports also decline.
Sunday 7 Aug 2022
"JUST IN - U.S. Senate passes $340 billion "Inflation Reduction" Act. Kamala Harris casts tie-breaking vote" - Twitter. The details of the bill would be good for a laugh, but usually laws are written in a way the public can't understand.
Saturday 6 Aug 2022
Thorough Exploration Of Ancient Saqqara In Egypt; Many Megalithic Wonders To Behold - Youtube.
This Is F*cking Crazy - Youtube. It is strange that the Al-Qiada second in command was only taken out 21 years later.
Friday 5 Aug 2022
California DMV accuses Tesla of falsely advertising Autopilot and Full Self-Driving features - LA Times.
The key to understanding inflation is the Equation of Exchange, or what I call "The Theory of Everything" -- MV=PY, where (M) is the money supply, (V) is velocity, (P) is the price level, and (Y) is real GDP. Just look at the great Milton Friedman's California license plate" - Steve Hanke, Twitter.
"From October 1, RheinEnergie in Germany will increase the price per kilowatt hour of natural gas consumed from 7.87 cents to 18.30 cents, an increase of +133%." - Twitter. That is not a bad price for energy. It look like Russia has been supplying cheap gas. In Denmark electricity prices averaged 36.9c in second half of 2021 (Statista). That is to pay for the excess wind capacity.
From 17 Dec 2021: Ted Mack And The Original Amateur Hour 1952. (The Old Gold Hour) NBC Network. - Youtube. A show that starts with a cigarette advert.
Thursday 4 Aug 2022
Debating Jim Rogers on His Latest Prediction | Making Money with Matt McCall - Youtube.
Q2 Earnings Season Is Unsurprising So Far - Yardeni. The 71% of the S&P 500 that have reported, had revenue growth 15%, and earnings growth of 10.9%.
"The Democrats’ reconciliation bill would fund 87,000 IRS agents. These IRS agents won’t go after the billionaires – they will audit everyday Americans. I’ve traveled all across Texas and the US – I’ve never once heard anyone say ‘we need more IRS agents!’" - Senator Ted Cruz, Twitter. Another government that doesn't get it. Everybody wants to pass their taxes on as higher prices, otherwise the activity is curtailed. Free government benefits lead to lower economic production and inflation.
"Exclusive: Samsung has scaled back production at its massive smartphone plant in Vietnam, employees say, as retailers and warehouses grapple with rising inventory amid a global fall in consumer spending" - Reuters, Twitter.
Lyft (LYFT) Investor Relations: Q2 revenue growth +30%, EPS loss from -$0.76 to -$1.08, price/sales $17.39/~4x$2.827 ~1.54. Revenue was $990.7M, but made -$377.2M loss. The Lyft share price started at $78.29 on 29 March 2019, and is now $17.39. The biggest cost for a bus service is the drivers. Uber and Lyft are unlikely to be cheap transport solutions, unless they use driverless autopilot.
Paramount+ hits 43 million subscribers as streaming rivals struggle - Engadget.
"VIDEO: Giant 3D dog leaps between billboards in Tokyo" - Twitter.
Tutanota cries antitrust foul over Microsoft Teams blocking sign-ups for its email users - Techcrunch.
Comparing the Swiss Franc to US Dollar exchange rate (blue) with the ratio of Swiss money supply M3 to US total debt as actual money supply (red). We are finally getting somewhere. The two deviate by up to a factor of two at times, but coincide over 50 years. You now get CHF0.95 for a US$1. That should head towards CHF0.8.
Wednesday 3 Aug 2022
Average Sales Price New Houses Sold - June 2022 - Chartworld.
Eleven LIV Golf players file lawsuit to challenge PGA Tour suspensions - USA Today.
German exports decline relative to money supply:
Tuesday 2 Aug 2022
JP Morgan, Debt & Gold: How Easy Is It to Manipulate? - Youtube.
Advanced Micro Devices (AMD), semiconductors, results Q2 revenue +70%, shares +32% more, dEPS down from $0.58 to $0.27, or non-GAAP up from $0.63 to $1.05, price/earnings = $103.91/~4x$1.05 = 25, price/sales =$103.91/~4x$4.01 = 6.5. The share price is expensive. They had very low growth from 2008 to 2019. The probability of the growth continuing seems low.
"Our visit reiterates that America stands with Taiwan: a robust, vibrant democracy and our important partner in the Indo-Pacific." - Nancy Pelosi, Twitter.
"The Chinese Communist Party is moving tanks and other military equipment through the Fujian Province (read: the closest Chinese province to Taiwan)" - Twitter. China should have ignored it. Now they have lost face.
"Shipping costs falling at incredibly rapid rate … y/y change in cost to ship 40ft container from Shanghai to Los Angeles has dropped to -32%, lowest since start of pandemic" - Twitter.
Up to June, Deep Sea Freight Transportation was still high:
Google has changed Gmail again. They will keep fixing what is not broken until they end up like Yahoo's email service.
Monday 1 Aug 2022
New Chips Act Could Become a $280 Billion Boondoggle - Bloomberg.
Stocks won't recover for 10 years; This is how investors survive - Jason Shapiro - Youtube.
"The last 4 times the spread between New Orders and Inventories in the ISM Manufacturing Index was this negative, the US was already in a recession" - Twitter.
U.S. SEC charges 11 individuals in $300 million crypto pyramid scheme - Reuters. How does it differ from a regular crypto investment?
The WWII Flying Boats That Became Flying Homes - The Catalina 'Landseaire' - Youtube.
New Toyotas are Melting and I'm Mad as Hell - Youtube.
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