Off topic but probably relevant to those who post & read in this thread — Starting next Tuesday stock trades settle in one day (T+1, ‘tomorrow’), not two
This new rule establishes the “T+1” settlement cycle, and it relates to how long it takes for securities transactions to “settle.” What is settlement? Let’s say you buy or sell a stock through your broker. Usually you get a confirmation of that trade right away, but that doesn’t necessarily mean the transaction has settled. For that to happen, the stock has to be transferred from the seller’s portfolio to the buyer’s portfolio, and the money deducted from the buyer’s account and sent to the seller’s. So “settlement” is the official delivery of both securities and money between the two parties.
China pulling ahead in chips? Embargoes no longer relevant?
Philipp Wong, Chief Scientist at TSMC and legendary Professor of Electrical Engineering at Stanford University… "Years ago we had technical conferences and we see papers from China… Quality is so bad it’s not even competitive. That was probably in the 80s and the 90s. Now they’re better than us. They’re better than us!”
“They have better resources, they have more students. They have more, more funding from the government. I cannot compete anymore.”
For the first time since the financial crisis, investors in top-rated bonds backed by commercial real estate debt are getting hit with losses. Buyers of the AAA portion of a $308 million note backed by the mortgage on a building in midtown Manhattan got back less than three-quarters of their original investment after the loan was sold at a steep discount. It’s the first such loss of the post-crisis era, says Barclays. As for the five groups of lower ranking creditors? They got wiped out.
So if everything is great why is it that…
You all know the truth but despite this same truth some prefers to recite a lie. Rather than accepting reality they prefer to ignore it with anger. They would rather do so but admitting what an abject failure we are all witnessing.
The economy is bad for people at the bottom and get s less so as you move up the wealth scale.
For people my age, the economy is absolutely perfect. Our stock investments are doing great and as we liquidate that portfolio and move into fixed income investments, we have higher interest rates on our CDs and Munis etc. We don’t have kids at home so no high grocery bills. We don’t have a lot of debt so high interest rates are no big deal.
It is almost as if this economy was created in a lab for the baby boomers. We couldn’t ask for better conditions. I am sure the elites are saying “why isn’t everyone happy?”.
If you are younger and you are trying to buy a house or paying rent, driving to work and paying gasoline prices or live paycheck to paycheck and have to sweat out grocery prices…this economy sucks.
What articles like that are really getting at is “why are approval ratings so low, when the raw data suggests they should be much higher?”. Well in a very ironic twist of economic fate, this economy is great for older people (who tend to lean a certain political direction) and horrible for younger people (who lean a different direction). That is why approval ratings are so low.
I was living my best life, and making smart choices with money, and then my industry cratered leaving me unemployed most of the time. I’m having to re-adjust my career goals (and I know I’m not unique), and am currently very ticked off at the State of California.
Economy is bad for me, but the other guy will do nothing to help me, other than try and give more tax breaks to the wealthy. That’s part of how we got here in the first place (which is my informed opinion, based on much reading so much good money stuff. I won’t be posting links)
I spent 5 years in the oil and gas industry in CA. I know all about being ticked off at the state. I still have a lot of friends there dealing with it.
Thanks rt. I’m actually a little chagrined I wrote that. I was in a foul mood because I had just received news that the state is cracking down on small loan-out corporations via EDD, and fining companies that are paying folks like me through those corps. That means there is a better than slim chance I’ll lose a ton of tax write-offs from my legitimate expenses, because companies will now want to/have to pay me W2. And this is after losing the SALT deduction during the Trump “tax cuts”. Not Californias fault, but no self-awareness of one of their largest industries.
So, I’m pretty mad that Cali decides to decimate the finances of a large portion of the creative community, right after we’re already wiped out due to the strikes, and streaming falling off a cliff.
Sorry, rant over. See everyone, I am able to put my self interest in front of my love of many other things California.
And sorry everyone for the self-indulgence. That was weak of me.
EDIT: Just one more thing! The whole reason I started a corporation in the first place was to supercharge my retirement after years as a struggling artist. Most places I work do not offer healthcare or 401K, etc. My corporation supplies all of that to myself, not to mention my family. I know I’m not the only one. That will be taken away. So yeah, I’m in a mood.
Just means the mother of all recessions is at least 2+ years closer now
Meanwhile, the flying public that lives paycheck to paycheck, and has been devastated by
inflation cannot afford to eat. So they take to the sky to forget their troubles. Thats all they can do;
that’s all this is about.
They are also predicting most numbers of travelers since 2000 on the road.
It’s a rough economy out there.
About 38.4 million people are projected to drive over Memorial Day weekend — “the highest number for that holiday since AAA began tracking in 2000,” the organization said
Big picture: The economy seems to be growing at a steady pace but inflation has been sticky. The Atlanta Fed estimates real GDP in the second quarter is running at a 3.5% annual rate. That’s up from a 1.6% rate in the first three months of the year.
Despite the growth data, according to a recent Harris Poll, 56% of Americans believe the U.S. is in a recession. This is a puzzle for polling experts. Economists tend to think that Americans are still grappling with the higher level of prices left behind after the wave of inflation.
I would argue its because when they turn on the TV ‘breaking news’ about the economy is always spun in the worst possible way because bad news sells better than good.
Some events could tank the markets, if not the economy. For example, if China blockades or invades Taiwan, that would crash markets worldwide. Always threats to the economy along with predictions of doom. And some of them will eventually come about.
Some are hoping it happens before November. Who knows?
I don’t know if it’s a coincidence but I dropped my office space inside my Network Office in One Riverway. Did not see that coming though. The other Galleria area building heading to foreclosure makes me think that the way traffic is in the area, everyone is moving away. I lived about 11.5 miles from my office and it always took at minimum 45 minutes either way. I just got tired of trying to drive there with people who seem to have suicidal tendencies on the West Loop. Now I go in about once a week to pick up mail and shred documents.
