Economy Thread

[Ann]

Oh boy
 

 

 

[Foxx]

On 11/23/2022 at 6:22 PM, Crap Throwing Clavin said:

 

And I stand corrected: the new ruie overturns the Trump-era rule that specified that no investment vehicle could be used in any federally protected retirement plan if that vehicle had a non-financial goal as one of it's main goals.

 

Reversing it, in effect, makes green investment a fiduciary duty superseding actual capital management.  The rule - promulgated by Department of Labor - violates the IRS Code (26 USC 401).    

 

And outright confiscation won't happen.  Let me tell you how it'll work: after a major bear market, when people 401k and IRA accounts have depreciated by some 30% or so, a Democratic Congress with a Democratic White House will campaign to "protect people's retirement investment from Wall Street" (or some such bullshit, not caring that such a statement makes no sense), and will alter the IRS code to allow the IRS to regulate how much of an individual retirement account is mandated to be invested in investment-grade government securities.  Basically, progressives will empower the executive to fund the federal deficit with retirement accounts.

 

That's how it's done.  See also: Germany, Nazi.

 

 

Biden unveils $36B for one of America’s largest and most troubled pension funds

 

[Foxx]

BlackRock says get ready for a recession unlike any other and 'what worked in the past won't work now'

[Foxx]

More than likely never to return to values previously held.

 

Remote work wipes $453b off office real estate

Quote

The surge in remote work, and a decline in demand for office space, during the COVID-19 pandemic has apparently wiped an estimated $453 billion off commercial real-estate value. That's not good news for investors and pension funds relying on the value of these buildings.

 

The US National Bureau of Economic Research (NBER) – a nonprofit, non-government org – came up with the figure, and is predicting what it calls an "office real estate apocalypse." While it focused its work on New York City, data from 105 office markets throughout America between 2000 and 2022 was included in a report this fall.

 

Prior to the coronavirus outbreak, 95 percent of office space was occupied in the US, according to the bureau. By the end of March 2020, occupancy dropped to 10 percent, it said. As of only a couple weeks ago, the NBER said office occupancy is still only at 47 percent. ...

 

[Foxx]

More on the pensions. This time from the UK.

 

Bank of England calls for ‘urgent’ global action after near-collapse of UK pension funds

Quote

LONDON — The Bank of England on Tuesday called for “urgent international action” from regulators on non-bank financial institutions after it was forced to rescue U.K. pension funds in September.

 

A number of pension funds were hours from collapse when the central bank intervened in the long-dated bond market. It came after a series of massive moves in interest rates on U.K. government debt exposed vulnerabilities in liability-driven investment (LDI) funds, which are held by U.K. pension schemes.

 

In its latest financial stability report published Tuesday, the Bank said had it not acted, “the stress would have significantly affected households’ and businesses’ ability to access credit.” ...

 

[Ann]

This is a very interesting article about B&N and how printed books may not be dead after all...

 

What Can We Learn from Barnes & Noble's Surprising Turnaround?

Digital platforms are struggling, meanwhile a 136-year-old book retailer is growing again. But why?

 

</snip>

[Ann]

Let the good times roll. 😢
 

 

 

 

[Foxx]

On 12/13/2022 at 2:30 PM, Foxx said:

More on the pensions. This time from the UK.

 

Bank of England calls for ‘urgent’ global action after near-collapse of UK pension funds

 

@Nouseforaname Yep, you're not 4 years old, you're 2.

[Nouseforaname]

4 minutes ago, Foxx said:

@Nouseforaname Yep, you're not 4 years old, you're 2.

Good to know.  Any 2 year old would still not be as spectacularly wrong as you are on so many subjects.

[Foxx]

1 hour ago, Nouseforaname said:

Good to know.  Any 2 year old would still not be as spectacularly wrong as you are on so many subjects.

This kind of coming from someone who wouldn't understand what he was reading even if it bitch slapped him.

[Nouseforaname]

4 minutes ago, Foxx said:

This kind of coming from someone who wouldn't understand what he was reading even if it bitch slapped him.

Good to know.  Tell me how the shortages in Europe are doing. I need more info from Wall Street silver.

[Foxx]

2 hours ago, Nouseforaname said:

Good to know.  Tell me how the shortages in Europe are doing. I need more info from Wall Street silver.

There is absolutely no sense discussing anything with you. You don't understand what you read nor the context involved. 

 

You continually take a post, try picking the fly shit out of the pepper, focus on one aspect that you can twist and thus move the goal posts. If one follows along with your inane nonsense, the discussion ends up in left field somewhere and generally has nothing to do with the original premise.

 

You're an ornery lazy &#%$ who is better than what you usually offer. Do better, stop playing your childish games.

 

Have a nice day.

[Nouseforaname]

14 minutes ago, Foxx said:

There is absolutely no sense discussing anything with you. You don't understand what you read nor the context involved. 

 

You continually take a post, try picking the fly shit out of the pepper, focus on one aspect that you can twist and thus move the goal posts. If one follows along with your inane nonsense, the discussion ends up in left field somewhere and generally has nothing to do with the original premise.

 

You're an ornery lazy &#%$ who is better than what you usually offer. Do better, stop playing your childish games.

 

Have a nice day.

What exactly do you offer? Tweets with no basis in reality? 

 

Whatever.  

[Foxx]

36 minutes ago, Nouseforaname said:

What exactly do you offer? Tweets with no basis in reality? 

 

Whatever.  

There is a high degree I am going to regret engaging with you, because it always ends the same. On the off-chance this will be an exception...

 

That is your opinion and you most certainly are entitled to it. I'll tell ya what though, so many of my conspiracy theories have proven true, I need to get more theories.

 

Your opinions are yours and even though I may not agree, I don't question your ability to believe what you chose. Nor do I feel threatened by what you think and feel to the point that I have to attack you via ad-hominin or, create a strawman that was never there to try and move the goalposts so i can claim a pyrrhic victory. The complete opposite is true for you however. And I am not the only one you attack. Rather, you display a pattern of attacking anyone you disagree with on a consistent basis.

 

I clown a post of yours because it deserved it. What do you do? You clown post of mine that quotes an CNBC article about what the Bank of England said about pensions. I'm sorry but that is a childish act. Please tell me so I may understand better... what were you clowning, the fact I propagated an CNBC article that talked about what the BoE did or were you clowning the article itself?

 

Again, your better than what your lazy ornery ass continually puts out. It is a new year, do better.

[Foxx]

Satire? You decide. 

 

[Ann]

Hmmm

 

 

 

 

[Foxx]

All-time high.

 

[Billsandhorns]

On 2/4/2023 at 9:59 AM, Foxx said:

All-time high.

 

Happy to say, I'm not included in this statistic. 

[IDBillzFan]

On the upside of Bidenflation, my bank is offering 5% on a 12-month CD. Can't remember the last time I saw a CD offer that much.

[Foxx]

35 minutes ago, IDBillzFan said:

On the upside of Bidenflation, my bank is offering 5% on a 12-month CD. Can't remember the last time I saw a CD offer that much.

80's, 90's? Still under the rate of inflation however. But yeah, I'll take it.