Month: November 2022

Any portfolio manager that attempts any strategy OTHER than return on investment should be prosecuted for fraud.

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GOOD: States Pulling Hundreds of Billions in Retirement Funds from ‘Woke Capitalist’ ESG Investment Management Firms. You don’t want your portfolio managers chasing peer approval instead of return on investment. On Tuesday, Oct. 18th, Missouri Attorney General Scott Fitzpatrick divested $500 million in assets managed by the massive investment management firm BlackRock on behalf of the Missouri State Employees’ … Read more

Yet another Bitcoin mining company is collapsing and cant pay back loans. This is good for bitcoin

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The machines which are worth an estimated $65-$70m today, were originally purchased via loan for $103m. The company does not currently expect to make payment on November 8th, meaning that up to 3.6 EH/s could hit the market, approximately 1.5% of global hash rate. pic.twitter.com/ZWn54PPEhP — Dylan LeClair (@DylanLeClair) November 2, 2022 Anyways, here’s the … Read more

The Government Is Set To Spend More On Debt Payments Than The Entire Defense Budget

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Interest on federal debt is set to skyrocket, potentially surpassing defense spending by as early as 2025, CNN reported Tuesday. The federal government made $475 billion in net interest payments in the fiscal year 2022 — which ended in September  — up from $352 in fiscal year 2021, according to the Treasury Department. The number exceeds the … Read more

Saudi Arabia says they are turning their backs on America, calls CHINA their ally, America a business partner!

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Apparently confirming the view of Saudi Crown Prince Mohammed bin Salman (MbS) that the U.S. is now regarded as just another one of its partners in a new global order that would see Beijing and its allies share the leadership position with Washington, Saudi Arabia last week reiterated its commitment to China as its “most … Read more

Powell: No sense that inflation is coming down… The White House deleted this tweet after taking credit for 8% annualized inflation.

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POWELL: NO SENSE THAT INFLATION IS COMING DOWN — *Walter Bloomberg (@DeItaone) November 2, 2022 The White House deleted this tweet after taking credit for 8% annualized inflation. Luckily screen shots are forever. White House is forced to DELETE fact-checked tweet claiming Biden has given American seniors the biggest boost in Social Security in 10 … Read more