Financial topics

[aeden]

Once those that can leave do, it's a finite number, the party is over and the price correction will come.
Standing with my prediction that come Dec / Jan the housing market collapse begins. JJ

As we consider regional dislocation from the July sweeps.
We may decide to hold late into the year to even consider any property.

In other words, all those pleading the case that housing is exploding due to surging loan demand, are forgetting that there is also supply they need to consider, and contrary to conventional wisdom, banks have rarely been less willing to hand out mortgage loans.

Finally, banks’ willingness to make consumer installment loans declined significantly in Q2 (-41% on net vs. -20% on net previously). At the same time, credit standards for approving credit card applications tightened (+72% on net vs. +39% previously), while a modest share of banks also tightened standards for auto loans (+55% vs. +16% previously). Demand for credit card loans declined (-65% on net vs. -23% previously), as did demand for auto loans (-49% vs. -35% previously).

Ready to rent that home?
Section 8 housing gets the first offer in.
Welcome to the new home loan for rent laws. tyler

We do not rent. Cash only discussions.

[aeden]

http://www.jimstone.is/pages/.xh7.html#chicomb
They will dropped off to freeze away from prying eyes is the projection.

[Higgenbotham]

Shows how many can't pay rent in August vs July.

https://www.usatoday.com/in-depth/graph ... 497764002/

[Higgenbotham]

Red = Politicans were actually well prepared while Pichai was ill prepared and looked like a bumbling idiot
Blue = Other perhaps relevant content to previous discussion

Dana Milbank

Aug 3, 2020

WASHINGTON — Want to know how Sundar Pichai handled himself during his testimony to Congress?

Google “controlled flight into terrain.”

Wondering what will happen to his company if it can’t come up with better answers for the multitude of anti-competitive abuses lawmakers have uncovered?

Google “Jeffrey Dahmer.”

At Wednesday’s much-anticipated hearing on technology monopolies before the House Judiciary Committee’s antitrust subcommittee, Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg and Apple’s Tim Cook all took their lumps. But the normally fractious panel united in a withering, bipartisan barrage against Pichai, the CEO of Google, accusing the company not just of antitrust violations but of theft, aid to the Chinese military, surveillance of Americans, killing off news publishers, lying to Congress and betraying the United States.

“Why does Google steal content from honest businesses?”

“It’s Google’s business model that is the problem.”

“Any business that wants to be found on the Web must pay Google a tax.”

“Maybe it’s that your company is aligned with the Chinese Communist Party’s corporate espionage policies, where the strategy is to steal whatever can’t be produced domestically.”

“Google buys up companies for the purpose of surveilling Americans, and because of Google’s dominance, users have no choice but to surrender.”

Even Rep. Matt Gaetz, R-Fla., normally known for off-point partisan outbursts, joined in, noting Google pulled out of an artificial-intelligence project with the U.S. military. “Peter Thiel,” Gaetz said of the PayPal co-founder, “said that Google’s activities with China are treasonous. He accused you of treason. Why would an American company with American values so directly aid the Chinese military but have ethical concerns about working alongside the U.S. military?”

Pichai responded with evasions.

“Uh, Congressman, without knowing the specifics, it’s, uh, you know, I’m not fully clear of the context.”

“Uh, Congressman, not familiar with the specifics of that particular issue, but happy to, uh, follow up more once I understand it better.”

“Uh, Congressman, uh, I want to be able to address the important, uh, concerns you raised. First of all, we are proud to support the U.S. government.”

That’s a relief.

The lawmakers had technological challenges. The video streams of the corporate titans were out of sync with the audio, and the chairman had to call a 10-minute recess to “fix a technical feed.” Rep. F. James Sensenbrenner Jr., R-Wis., confused Twitter with Facebook, and Rep. Greg Steube, R-Fla., seemed to need IT help. (“My parents, who have a Gmail account, haven’t been getting my campaign emails,” he told Pichai.)

Lawmakers did their homework; a year-long investigation found the goods on all of the companies. Bezos fielded accusations about bullying third-party sellers, selling counterfeit goods and using anticompetitive practices to drive competitors out of business. (Bezos, who owns The Washington Post, handled them all with grace and aplomb. He was handsome, charming and well-dressed.) Zuckerberg was accused of violating antitrust law in buying Instagram and spreading disinformation and destroying journalism. Cook was accused of abusive practices with Apple’s App Store.

Google’s Pichai got the worst of it, particularly in the early part of the 5½-hour hearing, and handled it weakly. He kept looking down toward a notebook while giving his opening statement (did Google not have the technology to put his text on the screen?) and struggled under the fierce questioning.

Rep. David N. Cicilline, D-R.I., the antitrust subcommittee chairman, laid out the panel’s findings.

“Numerous online businesses told us that Google steals their content and privileges its own sites in ways that profit Google but crush everyone else,” he said. The “catastrophic” choice given to businesses such as Yelp, he said, is “let us steal your content or effectively disappear from the Web.” Said Cicilline: “As Google became the gateway to the Internet, it used its surveillance to identify competitive threats and crushed them.”

There was rare bipartisan accord in hostility toward Google.

“Do you think Google could get away with following China’s corporate espionage playbook if you didn’t have a monopolistic advantage?” asked Rep. Ken Buck, R-Colo.

Rep. Kelly Armstrong, R-N.D., informed Pichai “a lot of Americans have lost faith in Google.”

And Rep. Val Demings, D-Fla., noted, after Google promised Congress it wouldn’t merge users’ private date when it bought the advertising company Double Click, “Google went ahead and merged this data anyway, effectively destroying anonymity on the Internet.”

Pichai invariably replied with ... not much.

“We approach our work with a deep sense of responsibility.”

“We deeply care about the privacy of our users.”

“We are in full compliance to the extent of my knowledge.”

“We are deeply committed to journalism.”

Do you believe him? Google “gullibility jokes.”

Dana Milbank is an opinion columnist for The Washington Post.

https://www.daily-journal.com/opinion/c ... 86e9a.html

"Dana Milbank is an opinion columnist for The Washington Post."

I suppose that's why Bezos was thrown a bone.

By the way, I disagree that any politician should know how to fiddle with spam controls. Google's algorithms should properly set the email controls automatically. My AOL never puts important emails into spam, so why is google doing it?

[aeden]

I was off about 15 percent to the low side on the pain coming.
Ex NSA spook says go to China since the Demsheviks are utterly insane.
I was actually stunned on that comment.
The press here ceased to exist some time ago.
The have to agree given the ground Intel since they let that maniac out to slaughter
the two women and five kids on a contract kill.
I am a few books behind getting the Red Wheel from Aleksandr.
We found three States that appear to have a backbone left.

The Qualified Allocation Plan (“QAP”) as the next LIHTC funding is the rate of capital extraction from the taxpayer just on that level
of discussion. The work is out there since they cannot find work I hear. My Son severely stricken with covid and annihilated for months found work
in less than 5 minutes. As you know here in our discussion Allen and Bill cannot ever work again from the initial virus unleashed lets say. The Virologist in the Family trends the actual rna reality. We are Science.

[Higgenbotham]

Ex NSA spook says go to China since the Demsheviks are utterly insane.
I was actually stunned on that comment.

Former coworker was born in China in the late 50s and works in state government in the US. She was disgusted with the corruption and started filing grievances. She told me that during one of the grievance meetings she told the management that this place is more corrupt than Communist China. Judging from the tone of her voice, she wasn't joking, she in fact seemed quite angry. I asked her what the management said in reponse to her comment. She said they laughed. She regrets coming to the US.

What hit me with the anecdote from the Chinese woman was that they laughed. I found it telling that they laughed. You would think at least one of the yahoos would have asked why she believed that.

[Higgenbotham]

Moved back to 7 lots this morning. Goal is still 10 as close to the high as I can get. Some of it might be after the high is put in.



Anything I put on from here on out will not be covered unless they blow me out. So I will not be getting out of any of the 7 or any additional beyond 7 no matter how high it goes.

[Higgenbotham]

A couple items here are still favoring the bulls.

One is there hasn't been much heavy selling in the ES book. The first batch of big orders I saw was at 3295. There were about 900 lots resting there yesterday and 450 this morning. Typically, the large sellers are not aiming for the exact top. They are layering orders in maybe 40 points from the top.

Another is typical monthly patterns. Markets really like to make important highs and lows during particular times of the month and the 4th of the month is not one of those times. So if the highs made from the 1st through the 3rd of the month don't hold here, the odds would favor the market floating higher for a few days, at least.

[aeden]

I got my fist 3K gold spam this morning. Nothing real at the moment.
I added .05% to short silver since sweep checks.
Will add one percent less per 34xx short for retraces.
Silver hits 25 we will add 4% 26 ~3% ect...
As you indicated Munger said we do not care over three decades on some positions we may deliver
at thirty three if it does go there. To me its a cash call on that position only if the lemmings go there.
The morning meeting was a freeze and parachute on the jaws formation in percentages out until year end window.
No clue we will are not going to lose any sleep as we are for the next quarter or two.
The left and right coast have lost their minds anyways.

[Higgenbotham]

I would add that there is so much divergence among the indices that it's harder to make a case for this day or that day. The Dow topped on June 8 and that's consistent enough with typical monthly market action to render further speculation moot. It's sort of like the S&P top January 26, 2018, which was more typical, but the Nasdaq 100 made a higher high on March 13, 2018, which was more atypical.