The Economy

[walnut]

I'm going to study more, but this just sounds like more QE to me. Loan guarantees to banks ($2 trillion +) creates money. The loan guarantees are like a synthetic bond, which the Fed will own. So they killed the economy, and then more money supply expansion anyway. We may be on a path to catastrophe.

www.investing.com/analysis/feds-not-qe-program-may-fuel-next-stock-market-rally-200636456

[code]

The Age of AI has begun

Artificial intelligence is as revolutionary as mobile phones and the Internet.
By Bill Gates
| March 21, 2023


www.gatesnotes.com/The-Age-of-AI-Has-Begun

[code]

With Firefly, Adobe gets into the generative AI game
Kyle Wiggers@kyle_l_wiggers / 6:00 AM PDT•March 21, 2023

techcrunch.com/2023/03/21/adobe-firefly-generative-ai/

[code]

Try Bard and share your feedback


blog.google/technology/ai/try-bard/

[walnut]

Mar 21, 2023 22:29:20 GMT code said:

The Age of AI has begun

Artificial intelligence is as revolutionary as mobile phones and the Internet.
By Bill Gates
| March 21, 2023


www.gatesnotes.com/The-Age-of-AI-Has-Begun

I'm using it frequently now.  Last night at 2 am I asked it if there is intelligent life beyond earth.   I'd think it might have stumbled across something during it's travels across oceans of Internet.  If so, it's not admitting it yet.

Google AI is a concern.  I'm in the Microsoft camp.

[missouriboy]

Mar 21, 2023 22:58:01 GMT walnut said:

Mar 21, 2023 22:29:20 GMT code said:

The Age of AI has begun

Artificial intelligence is as revolutionary as mobile phones and the Internet.
By Bill Gates
| March 21, 2023


www.gatesnotes.com/The-Age-of-AI-Has-Begun

I'm using it frequently now.  Last night at 2 am I asked it if there is intelligent life beyond earth.   I'd think it might have stumbled across something during it's travels across oceans of Internet.  If so, it's not admitting it yet.

Google AI is a concern.  I'm in the Microsoft camp.

Maybe it was just being polite.  It thought you asked if there is intelligent life ON Earth. 

[gridley]

Mar 21, 2023 22:24:57 GMT walnut said:

I'm going to study more, but this just sounds like more QE to me. Loan guarantees to banks ($2 trillion +) creates money. The loan guarantees are like a synthetic bond, which the Fed will own. So they killed the economy, and then more money supply expansion anyway. We may be on a path to catastrophe.

www.investing.com/analysis/feds-not-qe-program-may-fuel-next-stock-market-rally-200636456

MAY be? I wish I shared your optimism.

[missouriboy]

Anybody know anything about Blackstone?  Seems they are no longer in the black?

[justme]

UK inflation unexpectedly jumped to 10.4 percent.

The cost of living rose more than expected last month as salad and vegetable shortages helped push up food prices at the fastest rate in 45 years. Alcohol prices in restaurants and pubs also drove up costs for households, as inflation jumped to 10.4% in the year to February from 10.1% in January. Clothing costs, particularly for children and women, rose last month but fuel prices continued to fall. The surprise figures come ahead of a decision on interest rates on Thursday.

www.bbc.co.uk/news/business-65026231?at_bbc_team=editorial&at_link_type=web_link&at_campaign=Social_Flow&at_link_id=C1969A02-C880-11ED-9DEC-A393FF7C7F44&at_medium=social&at_ptr_name=twitter&at_format=link&at_link_origin=BBCBreaking&at_campaign_type=owned

[missouriboy]

Mar 22, 2023 19:40:05 GMT justme said:

UK inflation unexpectedly jumped to 10.4 percent.

The cost of living rose more than expected last month as salad and vegetable shortages helped push up food prices at the fastest rate in 45 years. Alcohol prices in restaurants and pubs also drove up costs for households, as inflation jumped to 10.4% in the year to February from 10.1% in January. Clothing costs, particularly for children and women, rose last month but fuel prices continued to fall. The surprise figures come ahead of a decision on interest rates on Thursday.

www.bbc.co.uk/news/business-65026231?at_bbc_team=editorial&at_link_type=web_link&at_campaign=Social_Flow&at_link_id=C1969A02-C880-11ED-9DEC-A393FF7C7F44&at_medium=social&at_ptr_name=twitter&at_format=link&at_link_origin=BBCBreaking&at_campaign_type=owned

My observations from Middle Earth (individual experiences may vary).

People (in  the West) with "little to NO debt" will probably do OK.  Yes, we/they will piss and moan about having to downgrade our/their consumption habits but we/they will probably not starve or freeze to death, or be thrown out on the streets.  My mother actually "patched" clothes ... and you didn't get new ones till they fell apart.

On the other hand, people with lots of debt and very "leveraged" lifestyles are probably screwed.  If they're not fast on their feet, they'll be out on the pavement.

Some say that this is how cycles change.  The survivors remember and run in a new direction.

[flearider]

Mar 23, 2023 15:39:46 GMT missouriboy said:

Mar 22, 2023 19:40:05 GMT justme said:

UK inflation unexpectedly jumped to 10.4 percent.

www.bbc.co.uk/news/business-65026231?at_bbc_team=editorial&at_link_type=web_link&at_campaign=Social_Flow&at_link_id=C1969A02-C880-11ED-9DEC-A393FF7C7F44&at_medium=social&at_ptr_name=twitter&at_format=link&at_link_origin=BBCBreaking&at_campaign_type=owned

  The survivors remember and run in a new direction.

took 15 yrs to get it back .. no fecking way am i doing it again .. once bitten ... 

[justme]

The German lender’s shares retreated for a third consecutive day and have now lost more than a fifth of their value so far this month.

www.cnbc.com/2023/03/24/deutsche-bank-shares-slide-8percent-after-a-sudden-spike-in-default-insurance-costs.html

EU is melting down and contagion spreading to UK economy

www.express.co.uk/comment/expresscomment/1750050/silicon-valley-bank-us-banking-crisis-UK-banks-interest-rate-cost-of-living

Analysis: Sweden faces recession as housing market troubles take toll on economy

www.reuters.com/world/europe/sweden-faces-recession-housing-market-troubles-take-toll-economy-2023-03-15/

[Sigurdur]

The fat lady is getting really warmed up.

[Sigurdur]

www.zerohedge.com/markets/yellen-convenes-emergency-financial-stability-meeting-friday-banking-crisis-explodes

[glennkoks]

Mar 24, 2023 14:27:31 GMT Sigurdur said:

The fat lady is getting really warmed up.

She may be starting to sing.

PacWest is said to be scrambling to deal with a run.  It's down 58% YTD and had to secure a 1.4 billion dollar line of credit to fend off disaster.  Deutche Bank is down 10% on health concerns.  I don't know if this is the beginning of the end of the world as we know it or if governments in the West will just keep bailing out the banks with fiat currency created out of thin air.

One thing is for certain the Fed is caught between caught between Scylla and Charybdis.  If they bail out the banks with free imaginary money it will undoubtably send inflation higher.  If they go the "tough love" route and let banks fail contagion is likely to spread and know telling how many banks will drop when the panic really sets in.

Most people will take the easy route and kick the can down the road.  Politicians will do it every single time.  So I expect the Fed to pause hiking rates and bail out any banks that are insolvent to contain the fear.  Further intrenching inflation into the very fibers of our economy...

Which is worse, kicking the can down the road and dying from inflation slowly or having the banks fail going through some kind of reset and getting on with whats next?