Monday, March 13, 2023

You remember the 2010 Dodd-Frank financial reform legislation, right?

Chickens . . . comin' home . . . to roost!

Studies have found the Dodd–Frank Act has improved financial stability . . . lol

Total BS story about deposit flight contains zero evidence for the claim

Sunday, March 12, 2023

The wizards of smart at Silicon Valley Bank loaded up on mortgage backed securities in the last few years, and when they needed to raise cash recently they had to sell some at a big loss

$1.8 billion.

That sparked the run.

The problems have been known for months by people like Chris Whalen.

This guy below actually tweeted out some particulars in January. This was no surprise.

Except to the federal regulators, who were completely asleep at the switch.

This is what happens when your bond portfolio is full of low-yielding securities. No one wants them when you have to sell them in the new higher interest rate environment. It's not a problem if you will "hold to maturity".

SVB wasn't very smart loading up on this stuff. Apparently they did not even hedge this otherwise foolish over-large position.

Hell, it's probably all California MBS, too. Think the outrageously overpriced homes, refinanced at rock bottom rates, of the very elite who have all their personal and business banking at SVB which is now blowing up. And all the second tier businesses and their employees dependent on them.

It's an inferno devouring their wealth from every side.

And they are screaming like stuck pigs for a bailout.

The cold-blooded commie symp and baby killer Jane Fonda, who Breitbart's John Nolte recommends we forgive, recently recommended murdering pro-lifers on The View

Watch the clip.

Friday, March 10, 2023

Stuff that's been in the news since March 6th

Xi Jinpingpong blamed the US for the first time for his domestic failures, according to the Wall Street Journal. He's a commie reactionary with Chinese characteristics. Not a good sign of what's to come.

Some cracker Republican in Florida wants bloggers to register like lobbyists, and Ron DeSantis finally came out against that, thankfully. A little late, though. Newt beat him to it.

Vivek Ramaswamy says CPAC shook him down for $$$$ in exchange for which they'd see to it he did better in the straw poll. There's no report that Matt Schlapp also asked for a reach-around.

LIBOR surpassed 5% for the first time in 15 years on Monday.

Georgia fired up a nuclear power reactor this week. The country now has 93 operating. 67 were never finished after Three Mile Island.

A dog and her pups were rescued alive and well from a basement in Turkey more than a month after the Feb 6 earthquake. The death toll is up to 52k.

Thousands of Iranian schoolgirls are being systematically poisoned in Iran. There was a similar incident in Afghanistan during the first Obama administration. Rag-headed heathen bastards.

South Africa is going the way of Rhodesia.

The UST yield curve aggregate made a new high 4.674% Wednesday v Fed Funds Effective Rate 4.57.

The Obama of Big Oil said peak production from 2019 will never be surpassed.

Pundits who predict inflation won't spiral like the 1970s fail to understand that the price of energy inputs is determinative. Unless energy costs come down big, we're in for it.

Cumulative deaths per million from C-19 in the US are 3,285. In Africa just 181. Follow the science.

The tide is turning on the Wuhan Lab Leak Theory of the origin of C-19 in the press.

Anthony Fauci has authored a paper in CELL which calls for better vaccines than the ones we've got, whether experimental or not. No kidding.

Silicon Valley Bank failed today, the first failure since 2020 when there were four. There was a huge flight to safety. Stocks sold off and longer dated Treasuries rallied 3.45%. The yield curve aggregate plunged 230bp, 3.82%.

Full time employment rose a little in Feb to 49.66% of civilian population. The average last year was 50.1%.

I'm still here, I'm just bored stiff

Monday, March 6, 2023

Donald Trump's CPAC is TRANSPAC

Sunday, March 5, 2023

WaPo ignores that it was Obama's war on coal which impoverished the Ohio River Valley and is now going hungry after the end of COVID-19 food assistance

A mile-long line for free food offers a warning as covid benefits end

In Kentucky, a state that has been hit particularly hard by the collapse of the coal industry, entrenched poverty and hunger have been generational problems that state and federal officials have struggled for decades to address.

More.

Obama's war on coal began immediately after his election.

Some of the power outages in Ohio on today's national map are due to another train derailment, second one in a month there

A third world shit-hole of problems, problems, problems.

Saturday, March 4, 2023

US power outages get more ridiculous by the day

Friday, March 3, 2023

LOL, DC Mayor and President Biden both oppose DC's soft-on-crime bill, progressive Democrats, but I repeat myself, are outraged

The crime bill passed the D.C. City Council unanimously in January. After Washington D.C. Mayor Muriel Bowser (D) vetoed it, the city council overrode it 12-1. Among other things, the bill would eliminate most mandatory sentences and lower penalties for a number of violent offenses, including carjackings and robberies. It would also expand the requirement for jury trials in most misdemeanor cases.

More.

Say what you will about Biden or Bowser, these two do not want to become Beetlejuice, who just lost her mayoral re-election bid because 63% of Chicagoans no longer feel safe there.

Sounds more and more like Joe is running, doesn't it?

His Energy Department last week endorsed the possibility of COVID-19 being a lab leak, followed in short order by the FBI saying the same, which the progressives still call a conspiracy theory.

Joe is aligning himself with where the country is on major issues like crime and the pandemic. He's running.

Perverse AP Obama just lies through its teeth about drag with weasel words, laughably calls the weasels self-policing

Drag does not typically involve nudity or stripping, which are more common in the separate art of burlesque. Explicitly sexual and profane language is common in drag performances, but such content is avoided when children are the target audience. At shows meant for adults, venues or performers generally warn beforehand about age-inappropriate content.