Husband | Dad | ND | Finance | Avoiding Stupidity
kansas city mo
Joined January 2013
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Happy Fed Meeting Day!
25 or 50bps doesn’t matter in the larger scheme of the economy. Enjoy the pageantry.
If we could make the shift from thinking of wealth as just money, to wealth as friendships, lifestyle, peace, and the things which facilitate these, we'd be a happier society
The Fed has no idea where inflation is heading and you think individual firms should know?
Firms should have a good idea of where inflation is heading. So why do they get it wrong? econ.st/46NrzU6
Illustration: Álvaro Bernis
Daughter runs past me this morning, chased by brother, clutching a wad of Monopoly money: "I'm a banker, I'm born to steal money!" Hmmmm. If only I could get her to specify "central" banker.
The Economist thinks that the dollar hasn't been manipulated yet?
Jobs are abundant and average incomes have grown at a pace most of the rich world can only dream of. In recent years, wage inequality has fallen. All this has been achieved without manipulating the dollar. Why start now? econ.st/46mqt1K 👇
Kansas City has a seed oil free restaurant 🤯
Cc: @SeedOilDsrspctr
Check out True Food on the plaza, say no to engine diesel in food.
TIL learned that Larry Fink was a mortgage bond trader back in the day, interviewed in Liar’s Poker by Michael Lewis.
Just a reminder, the point of 💩 coins is to sell them to get more fiat; the point of Bitcoin is to exit fiat.
Fed held rates steady today, and expectations for 3 rate cuts by year end remain in play.
Meanwhile, the S&P hit another ATH. Higher rates haven’t killed the economy. Loans at banks > 90 days past due remain muted at a post 2008 low. But look at delinquencies on consumer loans.
This looks to get much worse unless 1) rates come down or 2) inflation dies down from the 3% range.
If the Fed lowers rates without a recession, inflation will rip. So a deep recession could solve #1 and 2. But hoses the same people who can't service their debt already.
