Friday, January 12, 2018

And some real news....


It's very problematic to put together a policy seminar in one week that's worth 30% of your total grade, in a 4th-year class that you really want to get an A+ in, taught by a prof whose reccie you want for grad school, just saying.

I'm dumbfounded and stupefied by the continued strength in SPY and QQQ: they've gone way too far, you shouldn't make this much money in a month, their technicals are very overextended.

Then again, the big Trump tax breaks are going to put a lot of new money into the pockets of buyers of equities, while simultaneously allowing companies to buy back shares to shrink the equity pool. So while the behaviour is abnormal, the environment itself is abnormal.

And of course this is going to blow one hell of a bubble, because Republicans believe in bubbles. But it can take years to play out: recessions happen for reasons, not because of disturbances in the quantum foam.

I disbelieve the inflation hype, by the way, because (1) nobody can measure inflation anymore, it's all been politicized; (2) price inflation is not asset inflation is not commodity inflation; (3) the institutional monetary system of the West has been successfully fighting "inflation" for 35 years now, they aren't going to stop anytime soon.

But with all that in mind, The Cookie Monster Himself laid out a few years ago why there's a good case to invest in gold... eventually. Now might be that eventuity.

But, with that in mind:

WSJ - the global economy's output gap has closed. This is a big thing. I'm not interested in explaining this to you: go read Wikipedia on the topic, and then get 3 years of an economics degree.

New Deal Demoncrat - JOLTS confirms November payrolls strength.

New Deal Demoncrat - a US economic boom in 2018? Then again, what's important for the US is whether there's a global boom, not a US one.

All the Trump news you can Trump


Just popped into Business Insider, and it seems they feel Trump stories are sufficient clickbait:


Business Insider - Botswana asks, 'are we a shithole country?' Dude, if you don't have a Trump tower, you're a shithole country. Russia, on the other hand, is a fantastic country.


Business Insider - Paul Ryan calls Trump's 'shithole' comment 'unfortunate'. Quote:

"I thought about my own family. My family, like a whole lot of people came from Ireland on what they called 'coffin ships' and worked the railroads," Ryan said. "It is a beautiful story of America, and that is a great story. That is the story today, and that is the story we had yesterday, and that is what makes this country so exceptional and unique in the first place."

See, Ryan is what you get when you let fucking Catholics into your country.

He continued: "We've got great friends from Africa in Janesville who are doctors, who are just incredible citizens. And I just think it's important that we celebrate that."

"Some of my friends are black!"


Business Insider - Trump asked if he's a racist at MLK address. The answer? He wouldn't let them touch his money, he leaves that to the Jews. Seriously, you had to ask?


And, of course:

Business Insider - Trump's lawyers paid a porn star $130,000 in hush money. Cuz if you paid her and she's a porn star, then it's okay.


Goldwankage


Yeah, I'm still here... I'm just working on a seminar that I have to present on Tuesday.

Here's two interesting articles from Jojo on gold and gold miners:

Get Back Jojo! - five reasons gold stocks will break out in 2018.

Get Back Jojo! - here are the key levels in gold and miners.



Friday videos: Medicine


Note to all the indie rock kids: Brad Laner was ten times the mad guitar god that Kevin Shields was.




Thursday, January 11, 2018

Proof that "fiat" isn't what you think it means


Reuters - South Korea to ban cryptocurrency, raids exchanges on tax evasion charges. Quote:

South Korea’s government said on Thursday it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax evasion.

The clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymakers around the world struggled to regulate an asset whose value has skyrocketed over the last year.

Justice minister Park Sang-ki said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges.

And of course it's more complicated than that, but the point remains:

"Fiat" doesn't mean "worthless money". "Fiat" means "stuff that the government declares to be money". Thus, anything that the government declares to not be money ends up not being money.

Because the government says so.

Thus endeth the lesson.

Tuesday, January 9, 2018

Three problems with James Damore's lawsuit


There's three problems with James Damore suing Google, alleging they fired him for being a "white male conservative":


1. His original memo isn't very "conservative" at all. It seems that he's only gotten that way recently out of bitterness over being fired.

2. Your company can fire you for causing trouble at work.

Oh... and most importantly,

3. Google is worth $771 billion. James Damore isn't. Ergo, he can never win a lawsuit against them, which makes you wonder how much of a tard he has to be to sue for this nonsense.


It's hilarious, by the way, that conservatives are in favour of fire-at-will legislation that gives an employer blanket right to terminate anyone for any reason, and yet the minute Google does this they're evil or something.

I guess conservatives admit after all that we need the heavy hand of government to force employers to hire people that they don't like.