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washparkhorn

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Everything posted by washparkhorn

  1. USD down/markets up (it takes more USD to buy securities priced in USD when USD loses value). Good luck.
  2. The dildo of consequences rarely comes lubed.
  3. But seriously, those of us on the blue side need to have a conversation on 2024 and the weaknesses on display in 2022. As for strengths, the young ones are engaged and appear to be ready to vote for their future. And, as a progressive, we need to applaud the Biden Administration for laying the groundwork for the reality of our post-neoliberal (globalized) world. Covid showed us these far flung supply chains are unstable and not resilient. Biden’s move to a more regionalized world is a huge step in the right direction. That is just reality. So kudos to President Biden on recognizing these change and acting on it. (If you need a primer to catch up on the state of the world economy, I highly recommend Homecoming: The Path to Prosperity in a Post-Global World by Rana Foroohar of the Financial Times.) This shift was at the heart of the Fetterman enthusiasm pre-stroke. Having an industrial policy that champions our innovative spirit and our workforce is the path forward for the nation. Those of us on the blue side need leaders who speak to the opportunity for a renaissance of local and regional supply chains. I am happy there was no dismal red tide, but there is a need for improvement on the blue side before 2024.
  4. Sen. Hassan needs to beat Bolduc in NH. The Dems supported the kook Big Lie Bolduc in his primary battle against a relatively moderate Republican. That is a dangerous gambit that must stop.
  5. Manchin and Sinema won't agree. McCarthy has already made plans. McCarthy already has plans:
  6. So . . . LBRY is a security? The cryptotoken LBRY credits (LBC), issued by LBRY, a blockchain-based content hosting service, is legally a security according to a decision today from the U.S. District Court for New Hampshire. In a decision for summary judgment in favor of the Securities and Exchange Commission in the case SEC v. LBRY, Inc., which began in March 2021, U.S. District Judge Paul J. Barbadoro insisted the company violated Section 5 of the Securities Act of 1933 by selling its tokens without registering with and obeying SEC requirements for the legal sale of securities. . . . A rub in this decision that seems to be unnerving the crypto token community the most, a strong hint that those other digital assets might not remain "untouched" by the SEC for long, is it implies that any pre-mined token—which the issuers keep quantities of without spending money before releasing it into the marketplace at large—is thus obviously a security under SEC definition. https://reason.com/2022/11/07/cryptotoken-lbc-is-legally-a-security-federal-judge-declares-and-requires-regulation-by-the-sec/
  7. There’s the rub. Win or lose, Repubs will fuck around with the debt ceiling and ignorantly shatter confidence in the USD as the most favored reserve currency. That becomes the abyss for the US as we know it.
  8. Fed should make clear that rising profit margins are spurring inflation Companies have taken advantage of circumstances to lift prices https://www.ft.com/content/837c3863-fc15-476c-841d-340c623565ae The writer is chief economist at UBS Global Wealth Management In the world’s financial markets, US Federal Reserve chair Jay Powell is increasingly cast in the role of playground bully — looming over the prostrate form of the global economy and chanting “hike, hike, hike” with malicious glee. US policy rates are rising relentlessly. However, Powell’s public remarks offer little insight into how he expects higher rates to tame inflation. The omission matters as the current policy tightening will have an impact through an unusual route. That is because today’s price inflation is more a product of profits than wages. The UBS chief economist is looking specifically at whether this is a wage/price spiral. It’s not, according to him. It has become lazy-thought for the Fed to raise the specter of a wage/price spiral and insinuate wages as the cause of inflation. They must do that because the inflation fighting tool they deployed crushes demand via unemployment - regardless of the cause for said inflation. It will work and create pain for most. But robust employment is not the primary cause.
  9. Twitter doesn’t appear to have robust competition at this juncture.
  10. Further analysis- profits driving inflation: https://www.epi.org/blog/inflation-minimum-wages-and-profits-protecting-low-wage-workers-from-inflation-means-raising-the-minimum-wage/
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