If you have zero interest in financial news, this would be a good time to pay a little attention.

[Supervisor42]

Like the rest of the world, trouble in China.

https://markets.businessinsider.com...rency-markets-economy-beijing-fed-hike-2022-9

This is strange.

• Reuters reported that China told state-owned banks to get ready to sell dollars and buy yuan in an effort to prop up the local currency.
• The move could stem the yuan's fall, as it remains on track for its largest annual loss against the dollar since 1994.
• A hawkish Fed has pushed the dollar to 20-year highs this year, pressuring currencies around the world.

The dollar ain't worth squat here today because of our inflation .
That doesn't speak very well for the other countries.
(Look! I'm back on topic!)
Edit: I guess it makes sense, the price of everything is going up except the stocks in your 401K, which are in a nosedive. Soon you will be able to buy stock in good companies for 20-bux (or 600 yuan ).

 

[Supervisor42]

On a side note, if you ever wondered why my posts about investing all have a silly disclaimer under them, just ask Kim Kardashian :
https://www.sec.gov/news/press-release/2022-183

Washington D.C., Oct. 3, 2022 —
The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation.

If I own stock in a company and they pay me a dividend, I am technically on their payroll. If I urge others to buy stock in it, that is exactly what Kim did.

 

[VThillman]

Never chatted with the guy, but have 'gained the impression' that he (Putin) is a long ways from stupid. And is very well informed.

Unfortunately, I don't share either of those attributes. But laying a big nuclear egg on Ukraine seems pretty dumb.

 

[Sourdough]

I never got that he was speaking to Ukraine reference nuclear, I clearly understood his warning was to "ALL" NATO countries including U.S.

They moved The Russian boundary to include the annexed parts of Ukraine. He was saying, going forward if anyone attacks then it will be considered a straight on attack of the "whole" of Russia. And would be meet with all the might of the "motherland".

 

[Bacpacker]

This is strange.

The dollar ain't worth squat here today because of our inflation .
That doesn't speak very well for the other countries.
(Look! I'm back on topic!)
Edit: I guess it makes sense, the price of everything is going up except the stocks in your 401K, which are in a nosedive. Soon you will be able to buy stock in good companies for 20-bux (or 600 yuan ).

China is in worse shape financially than the US in some ways. The evergrand sceme is killing their banking. Nearly everyone involved is broke and way over extended

 

[VThillman]

I never got that he was speaking to Ukraine reference nuclear, I clearly understood his warning was to "ALL" NATO countries including U.S.

They moved The Russian boundary to include the annexed parts of Ukraine. He was saying, going forward if anyone attacks then it will be considered a straight on attack of the "whole" of Russia. And would be meet with all the might of the "motherland".

Well, I will repeat: that annexed area (approximately) has in the past been park of Peter The Great's Russia. There have been a lot of ethnic Russians living there, have been for centuries. Russia has coveted access to the Black Sea since before Peter's time. The significant strategic difference is the existence of nukes - held by several "interested parties". Is Putin saying that he is willing to use a few of his tactical nukes in Ukraine? ??

The entire mess has a strong, unpleasant stench about it. Of ********, mostly.

 

[Sourdough]

Is Putin saying that he is willing to use a few of his tactical nukes in Ukraine? ??

"NO".......he is saying that annexed land is now RUSSIAN boarder. And warning everyone, including U.S. it will be protected same as "ALL of RUSSIA". Including nuclear if necessary.

 

[Hardcalibres]

China is in worse shape financially than the US in some ways. The evergrand sceme is killing their banking. Nearly everyone involved is broke and way over extended

The Evergrande debt is 300 billion.

China has a trade surplus of about a trillion dollars a year - so if they have to bail Evergrande or any banks out, they will fund that with cash from their trading partners.

The US has a trade deficit of about a trillion dollars a year - so if the US needs to bail anything out, it can only do that with borrowed or newly printed money.

 

[Alaskajohn]

Nothing to see here. Ignore the information.

https://www.theepochtimes.com/us-de...utm_source=partner&utm_campaign=BonginoReport

 

[VThillman]

Nothing to see here. Ignore the information.

https://www.theepochtimes.com/us-de...utm_source=partner&utm_campaign=BonginoReport

Neither of the two "major" political parties has been averse to printing money while in power - only whlile out of power. The Libertarian Party is (probably) genuinely opposed to the practice, but I haven't noticed anything to suggest that they have any interest in the well-being of rural conservatives; We may not have anything they want to trade for.

 

[bkt]

Neither of the two "major" political parties has been averse to printing money while in power - only whlile out of power. The Libertarian Party is (probably) genuinely opposed to the practice, but I haven't noticed anything to suggest that they have any interest in the well-being of rural conservatives; We may not have anything they want to trade for.

Most Libertarians I know ARE rural conservatives.

 

[VThillman]

Most Libertarians I know ARE rural conservatives.

I don't know any declared Libertarians. There seemto be quite a few rural Republican businessmen, retired businessmen, and businessman wannabes.

 

[Spikedriver]

Most Libertarians I know ARE rural conservatives.

The thing is, true libertarians really aren't conservative. Gay marriage rights, pro choice, pro legalized drugs, pro "be a tranny if you want to" are all part of the libertarian party platform. Libertarians also generally want to reduce the size and scope of the military and law enforcement.

Libertarians are mostly about leaving people alone, for both good and bad, and letting people sort their lives out for themselves. There's no business subsidies in the libertarian platform. There's no Trump wall at the border. Prostitution would be decriminalized in most cases. The bill of rights is held sacred. 1A and 2A rights are strongly defended. Discrimination on race and gender is not tolerated - but neither is preferential treatment on those bases.

Basically, libertarians alienate both major parties. That's why the political leadership in America wants to destroy them...

 

[bkt]

The thing is, true libertarians really aren't conservative. Gay marriage rights, pro choice, pro legalized drugs, pro "be a tranny if you want to" are all part of the libertarian party platform. Libertarians also generally want to reduce the size and scope of the military and law enforcement.

Libertarians are mostly about leaving people alone, for both good and bad, and letting people sort their lives out for themselves. There's no business subsidies in the libertarian platform. There's no Trump wall at the border. Prostitution would be decriminalized in most cases. The bill of rights is held sacred. 1A and 2A rights are strongly defended. Discrimination on race and gender is not tolerated - but neither is preferential treatment on those bases.

Basically, libertarians alienate both major parties. That's why the political leadership in America wants to destroy them...

Correct on all counts. They also want to abolish all forms of welfare. So if people want to come to the U.S. and work hard to become prosperous, that's fine. If they want to come sponge off others, there should be no way to do that.

Libertarians are regarded as arch-conservatives by lefties because they believe in self-governance, self-reliance, self-sufficiency and that government should be very limited in scope. They are regarded as left-leaning by conservatives for the reasons you mentioned above.

For the record, as a small-l libertarian, I'm against abortion. I believe the unborn are people (they're alive and have distinct human DNA) and as such deserve the same protection of life - respect of property - as anyone else.

 

[Spikedriver]

Correct on all counts. They also want to abolish all forms of welfare. So if people want to come to the U.S. and work hard to become prosperous, that's fine. If they want to come sponge off others, there should be no way to do that.

Libertarians are regarded as arch-conservatives by lefties because they believe in self-governance, self-reliance, self-sufficiency and that government should be very limited in scope. They are regarded as left-leaning by conservatives for the reasons you mentioned above.

For the record, as a small-l libertarian, I'm against abortion. I believe the unborn are people (they're alive and have distinct human DNA) and as such deserve the same protection of life - respect of property - as anyone else.

I feel the same about abortion. My views are always evolving though. I've gone from staunchly pro life, to questioning whether or not it's the concern of the federal government to allow or deny abortion. Once again, it's a matter of conscience and I tend to believe the government shouldn't be allowed to have a say in matters of conscience...

 

[VThillman]

Correct on all counts. They also want to abolish all forms of welfare. So if people want to come to the U.S. and work hard to become prosperous, that's fine. If they want to come sponge off others, there should be no way to do that.

Libertarians are regarded as arch-conservatives by lefties because they believe in self-governance, self-reliance, self-sufficiency and that government should be very limited in scope. They are regarded as left-leaning by conservatives for the reasons you mentioned above.

For the record, as a small-l libertarian, I'm against abortion. I believe the unborn are people (they're alive and have distinct human DNA) and as such deserve the same protection of life - respect of property - as anyone else.

I have the same understanding of the Libertarian 'wants'. Personally I think they go to far toward 'un-charity' and 'un-governance'. Cut too close to anarchy. They do thwart the aims of the plutocrats, whose ideal is a form of feudalism. though not the sort of feudalism that inevitably develops from anarchy.

Hah. Near as I can tell, Every utopia yet imagined that treats humans as if they were ants, must fail. Because humans ain't ants. The Libertarians are closest to getting is right, but they need to allow for a wee bit of socialism in the margins.

 

[VThillman]

I feel the same about abortion. My views are always evolving though. I've gone from staunchly pro life, to questioning whether or not it's the concern of the federal government to allow or deny abortion. Once again, it's a matter of conscience and I tend to believe the government shouldn't be allowed to have a say in matters of conscience...

I've been following a conservative Vermont blog that has apparently come to believe there is a viable compromise with the pro-abortion left: Abortion allowable until the fetus shows attributes indicating that it is capable of normal life outside the womb. Looks like an attempt to avoid a Democrat-supported amendment to the state constitution that would guarantee the legality of abortion right up to natural full-term birth (and and as a practical matter, during birth).

Just how that differs ethically from legalizing another variety of state-approved murder, I dunno.

 

[Spikedriver]

I've been following a conservative Vermont blog that has apparently come to believe there is a viable compromise with the anti-abortion left: Abortion allowable until the fetus shows attributes indicating that it is capable of normal life outside the womb. Looks like an attempt to avoid a Democrat-supported amendment to the state constitution that would guarantee the legality of abortion right up to natural full-term birth (and and as a practical matter, during birth).

Just how that differs ethically from legalizing another variety of state-approved murder, I dunno.

Agreed. I suppose the idea is, being able to save some, is better than saving none...

 

[VThillman]

Agreed. I suppose the idea is, being able to save some, is better than saving none...

A friggin' constitutional amendment approving murder. In my home state. I hate it.

But anyway . . . It seems to be forcing me to mention a work-around employed in a science fiction novel I read so long ago that I remember nothing else about it:

The Creche. Instead of murdering babies, this national government required the baby to be borne alive - and separated from its parents immediately. The baby would be nurtured and raised by a government-run creche, and educated to be a servant of the state civil authority, armed forces, wherever needed.

Neither the author nor I entertained the idea that this would be a good thing. But it does open a different sort of Pandora's box. Another thing to have unpleasant dreams about.

Please don't thank me.

 

[Neb]

A friggin' constitutional amendment approving murder. In my home state. I hate it.

But anyway . . . It seems to be forcing me to mention a work-around employed in a science fiction novel I read so long ago that I remember nothing else about it:

The Creche. Instead of murdering babies, this national government required the bay to be borne alive - and separated from its parents immediately. The baby would be nurtured and raised by a government-run creche, and educated to be a servant of the state civil authority, armed forces, wherever needed.

Neither the author nor I entertained the idea that this would be a good thing. But it does open a different sort of Pandora's box. Another thing to have unpleasant dreams about.

Please don't thank me.

Plato's Republic suggested that all children's be raised by the state.

Furthermore only the best were allowed to breed.

Those ideas did not sit well with me.

Ben

 

[VThillman]

Plato's Republic suggested that all children's be raised by the state.

Furthermore only the best were allowed to breed.

Those ideas did not sit well with me.

Ben

Plato reads like he was what I think of as a non-humanist idealist. So were Marx and Lenin. Those folks get thinking too hard, turn cold-blooded.

 

[Neb]

Plato reads like he was what I think of as a non-humanist idealist. So were Marx and Lenin. Those folks get thinking too hard, turn cold-blooded.

His analysis of various forms of government were spot on as well as the philosophy in general. But when he went on to suggest a form of a republic he went a bit too far. He also suggested that theater and artist should be outlawed because their representations mislead people... but that is way off topic.

The founding fathers were most likely familiar with Plato when they devised a Constitutional Republic with delineated powers and limits.

Back on topic

The bank of England move this week may have fractured the ties between gold and the markets. Gold is starting to shine brighter than US dollars.

Ben

 

[VThillman]

The bank of England move this week may have fractured the ties between gold and the markets. Gold is starting to shine brighter than US dollars.
Ben

I think gold is way overrated. It's a fair conductor, and doesn't corrode; big deal.

 

[Neb]

The bank of England move this week may have fractured the ties between gold and the markets. Gold is starting to shine brighter than US dollars.
Ben

I think gold is way overrated. It's a fair conductor, and doesn't corrode; big deal.

Because of those reasons gold makes the best mirrors.

Ben

 

[Supervisor42]

Back on topic

The bank of England move this week may have fractured the ties between gold and the markets. Gold is starting to shine brighter than US dollars.

Ben

Finally! Back to bad financial news and away from the abortion 'cesspool'.

https://www.cnbc.com/2022/10/06/bank-of-england-says-pension-funds-were-hours-from-disaster-before-it-intervened.html

 

[VThillman]

Finally! Back to bad financial news and away from the abortion 'cesspool'.

https://www.cnbc.com/2022/10/06/bank-of-england-says-pension-funds-were-hours-from-disaster-before-it-intervened.html

Hah. Out of one cesspool, into another.

 

[Magus]

Remember the scene in Deliverance when Ned Beatty is about to get bent over the log?
"Squeal boy! here it comes!"
https://uncanceled.news/markets-are...reserve-to-save-them-its-not-going-to-happen/

 

[VThillman]

The thing is, true libertarians really aren't conservative. Gay marriage rights, pro choice, pro legalized drugs, pro "be a tranny if you want to" are all part of the libertarian party platform. Libertarians also generally want to reduce the size and scope of the military and law enforcement.

Libertarians are mostly about leaving people alone, for both good and bad, and letting people sort their lives out for themselves. There's no business subsidies in the libertarian platform. There's no Trump wall at the border. Prostitution would be decriminalized in most cases. The bill of rights is held sacred. 1A and 2A rights are strongly defended. Discrimination on race and gender is not tolerated - but neither is preferential treatment on those bases.

Basically, libertarians alienate both major parties. That's why the political leadership in America wants to destroy them...

That's why I voted for the lady. Only honest human in the room.

 

[joel]

https://www.edwardjones.com/us-en/m...-pulse/social-security-cost-living-adjustment

 

[joel]

https://www.edwardjones.com/us-en/market-news-insights/stock-market-news/market-pulse/inflation