So confused by this headline.
Seems like they said, for the fiftieth time, they’ll be flexible on it and the market took that as amazing news?
damn, what do you think interest rates are going to end up at? 10%?
Everything should short circuit well before then, but kind of expecting a longer recession then we’ve had in a long long time. Probably not as deep as '08-'09, but I wont be surprised if we end up in a 2 year or longer downturn.
OMG.
I’m going to put all my retirement savings in this I think.
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Economy contracted by more than expected = less rate rises = stonks?
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Another 5-10 days like this and I might look at my balance again.
Under 5% inflation?
LOL what?
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Other than trying to bogus the numbers, is there a reason the “preferred gauge” does not include energy and food, which are probably two of the items people consume the most?
The rationale is that energy and food are much more volatile and thus would dominate the calculation and lead to inaccurate results. They are more subject to short term effects (say a drought or war cutting off energy supply), which inflation is not trying to measure. In this way it’s similar to how companies exclude non-recurring gains and losses from their income.
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My preferred gauge says I’m wealthy, charming, and handsome.
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This is so good
https://twitter.com/arpitrage/status/1530934272751808512?s=21&t=sNSjzH63sgqQK2JBGd-IZA
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Some investors said they didn’t know TerraUSD had such a vulnerability. Brian Anderson, a 45-year-old former teacher in Utah, took out a $95,000 loan against his home in December 2020 and put the money in Anchor Protocol in March, encouraged by an online investing course.
Some people really are just wasting oxygen on this planet.
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I was going to say it’s particularly depressing that his profession is given as former teacher but I suppose all things considered it’s better than current teacher.
Recession it is
Being an awful personal investor doesn’t actually imply that the person is bad at other things. This person could very well be a decent teacher. Lots of very good doctors and engineers, for example, make these kinds of objectively stupid investments. In fact, doctors and engineers are know prime targets for scammy investment salespeople because doctors and engineers have what a salesperson might describe as a beautiful combination of money and ego.
Morabito said he represented one waterfront rental that was asking $70,000 a month, but a potential renter offered just $45,000.
Hard times indeed
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But they need to make $70,000 per month to pay the exorbitant fee to the exclusive private school that lets their kid go to Harvard and eventually become someone who rents out their beach house for $70,000 per month.
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Private school is usually so stupid. Pay sky high property taxes for good schools then drop $50k, after tax (so really $80k+) for social status. Meanwhile junior could have $1m at graduation.
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