Higgenbotham's Dark Age Hovel

[Higgenbotham]

** 03-May-2023 World View: Banking stocks

On Tuesday, banking system problems
reemerged with a ferocity not seen since
mid-March. Despite the financial
setbacks, most analysts remain
upbeat. ...

The leading indicators of inflation
project a deflationary collapse for
2023, with the consumer price index
(blue curve) already retreating. In this
dangerous financial environment,
investors remain unusually complacent,
as measured by the low 10-day average of
VIX. The complacency is astounding when
considering banking stocks are plunging
and the yield spread between 10-year
Treasuries and 3- month LIBOR resides in
its most bearish state since 1981.

ChatGPT???

Seems like a possibility to me. Though it arrived via email from an acquaintance who says he wrote it.

[tim]

[tim]

The idea of climate change originated in the Soviet Union. A genius idea of tricking your enemy to damage their own industrial capacity without having to attack them directly.

The idea of climate change originated with Svante Arrhenius, a Swede, in 1896, a generation before the Soviet Union even existed. If this is an example of your science background, tim, I see why your vaccine arguments are so bogus.

I never claimed to have a science background. If you want to argue with me, post in my vaccine thread.

ad hominem
hŏm′ə-nĕm″, -nəm
adjective
Attacking a person's character or motivations rather than a position or argument.
Appealing to the emotions rather than to logic or reason.

[John]

** 03-May-2023 World View: Jerome Powell - Bank closures

A few minutes ago, I heard Jerome Powell
say that that there were 14,000 banks 30
years ago, but thanks to consolidations,
there are 4,000 banks today.

[Navigator]

This is a great graphic. It fits well with the sequence we have frequently discussed here:

1. Financial Implosion
2. World War
3. Collapse of governmental and societal structures

[Another guest]

This is a great graphic. It fits well with the sequence we have frequently discussed here:

1. Financial Implosion
2. World War
3. Collapse of governmental and societal structures

Navi, you're back!

[Navigator]

Thanks for noticing! I am planning to write on the marriage/family crisis on the main board, but just need to get up the energy to do so. Encouragement helps.

[Higgenbotham]

[Higgenbotham]

We noted on Monday night that the Gold/Lumber and Gold/Copper ratios broke supports that had held for more than a year.

Then on Wednesday, another critical set of levels was broken. US TSY note yields had tested six-month lows in early April and then had held above those lows for the next 30 days. Yesterday those yield support levels were decisively broken.

The economy is slowing rapidly. TSY yields suggest that a recession is imminent or has already begun.

When TSY markets reached and breached these support levels in each past bear market year, like 1962, 2002, 2008, and 2020, equities markets reacted resoundingly.

Different source than yesterday. This one was written by a human.

[FullMoon]

Thanks for noticing! I am planning to write on the marriage/family crisis on the main board, but just need to get up the energy to do so. Encouragement helps.

Please do! I appreciate anything that you write.
Best wishes and know that your contributions are appreciated.