Multiple best-selling author, pioneering online commentator. ~1 million readers turn to Mauldin for his view on market and history. 8 Kids. Luckily wed to Shane
My adopted children are not props. I find this critical race theory nonsense you spout abhorrent. An insult to adopted kids and parents. Your words get twisted into today’s context and harm today’s children and their parents who love each other. Shame on you.
Some White colonizers "adopted" Black children. They "civilized" these "savage" children in the "superior" ways of White people, while using them as props in their lifelong pictures of denial, while cutting the biological parents of these children out of the picture of humanity.
This is how you destroy one of the world’s great brands in a week or less. The hubris, the lack of moral clarity, the lack of real world sensibility, the sense of entitlement, is overwhelming. This is what Turchin calls the overproduction of elites. It is so very sad.
650+ Harvard professors have signed a letter to the Harvard Corporation in support of President Claudine Gay.
@Harvard
is now in crisis.
The Harvard Board is now stuck between a rock & a hard place: if they fire Gay (also now accused of plagiarism) the faculty will be in
Dear Robert, are you really stupid enough with so little understanding of accounting 101 that you don’t know the difference between gross profits and net profits? Or you just once again politically pandering, trying to divide us as a people, lying for your party benefit. Net
Kroger:
-Had gross profit margins above 20% over the last 5 years
-Is using “dynamic pricing“ to gouge us further
-Paid its CEO $15 million, 502x a typical Kroger employee
-Wants to acquire Albertsons so you have nowhere else to shop
Corporate greed at its absolute worst.
With no all due respect, Senator Warren does not have the economic understanding and knowledge that God gave a goose. And that is not in any way being disrespectful to geese.
Putin's war is causing gas prices to rise, but this is no excuse for large oil companies to pad their bottom line with war-fueled profits.
Senate Democrats are watching closely — and already working on a windfall profits tax.
Three weeks ago I wrote that it would not be long until some Chinese Ben Bernanke would say “Subprime is contained.” This week the People’s Bank of China says “Evergrande is controllable.” Some things are just soooo predictable. Wonder how big the crisis will be? Bring popcorn.
Oh, please, Mark. Both sides have been talking about that since about Eisenhower. The only way to reduce bureaucratic paperwork is to actually reduce the damn bureaucrats and bureaucracy. And government doesn’t produce opportunities for business. They need to get out of the
The Pandemic Isn’t a Black Swan but a Portent of a More Fragile Global System | The New Yorker Taleb’s quote are money good for a few minutes of your time. And something that will make your think and re-imagine a future.
I adopted five children. Two black sons, two Korean twin girls and a Caucasian son. Two biological daughters and a Choctaw Indian son via my wife Shane. Started an adoption support group. Seriously, Dana, take your pandering political partisan BS home. Leave her kids alone.
This was one of the most amazing clips with like 6 cliches per minute and saying absolutely nothing. If someone wrote this as a speech for the VP, then think of getting someone else as a writer. If she just made this up on the fly I don’t know what to think.
wrong on too many levels to even count. What are we doing? Clearly not thinking. I feel like my soul is coming apart. My country? What happened? How? Easy to cast blame but hard to take ownership. We all need to breathe.
Exactly how are truckers now terrorists? Any bombs? Building defaced or broken into? What are they thinking? Are we now distinguishing what protests are socially ok and others are terrorists simply because they disagree with a government position? Freedom of speech, anyone?
Oh my fucking goodness: Canada's Deputy Prime Minister says that, as part of the Emergencies Act, they are broadening Canada's "Terrorist Financing" rules so that they cover crowdfunding platforms and cryptocurrencies to the Canadian Freedom Convoy
I keep hearing about calls for sanctions on Russia denying them access to SWIFT. Useful, but not as much as it used to be. If you want to get serious, sanction the central bank of Russia. Now THAT”S a serious sanction and will leave a mark.
Seriously? How do you do that? What Mayor/police/citizens allow that? Is this what we have become? Am I just on old man moaning about a younger generation or have we lost it? How can the looters NOT know? Local authorities are culpable.
As usual, Cliff
@CliffordAsness
makes a brilliant point. Summers warned you, Sen. Warren, that your last stimulus bill would create large inflation. As did many of us troglodytes. You have no understanding of real world economics. You line in a progressive fantasyland.
OK, one more time. Corporations will always try to maximize their profits. That is not news. It is the job of government, and yes it’s a hard one some times, not to create inflationary conditions. You are complaining about your branch’s failure and, as usual, their existence.
Say what? The Fed, who is zero for 300 on predicting the immediate future of the economy now knows how to handle the decades long problem of climate change? I had no idea a Ph.D in economics qualifies you to be a climate expert.
“Fed’s Brainard Says Banks Likely to Need Direction From Regulators on Managing Climate Risks.”
People have Zero Clue how important this nomination is.
$XLF
HS Valedictorian, Heisman trophy, pro superstar. Thoughtful and courageous. Why doesn’t the main stream media listen to his views? And the majority like him? Or could it be he doesn’t fit their agenda?
I don’t want to defund the police. I don’t want to tear down statues. What about my freedom of speech? I want to be united as Americans. Congress and Senators... Can you hear me?
And this is all,before AI starts consuming more electricity than all the renewables ever built. Oil will be more necessary than ever. Care to bet on whether AI companies will want to stop developing? Crunch time coming…..
This sentence is so serious that an immediate replacement of such insanity is going to become unavoidable. British leadership cannot be taken seriously. It is the saddest thing in a long time.
.
@SpeakerPelosi
: "When we're having this discussion, it's important to dispel some of those who say, well it's the government spending. No, it isn't. The government spending is doing the exact reverse, reducing the national debt. It is not inflationary."
How does someone get appointed to a VERY serious job whose stated clear goal is to bankrupt oil, gas and coal companies. Steve, I sympathize workers, but more so where do we get out energy? Does she want us back in the stone ages? Who powers businesses, my iPad? Phone, home, car?
Joe Biden's nominee for the Comptroller of the Currency Saule Omarova on oil, coal and gas industries: "We want them to go bankrupt if we want to tackle climate change."
Those industries are responsible for MILLIONS of Americans' paychecks.
I can't let this month pass without noting a significant anniversary: This is the 25th year I’ve been writing Thoughts from the Frontline. The first few issues were lost to the electronic gods and my lack of technical prowess back then. That quickly changed. You can visit the
We are at a major inflection point & I couldn't be more bullish. Bearish sentiment is so high it looks like 2003, 2009, 2016 & 2020. This will be steeper & faster than any of those big rallies & it is just getting started.S&P to 6000,Nasdaq to 20,000,DJIA to 45,000,RUT to 3000.
First, follow Doomberg. Second, this a great thread. Third, this is official notice to Doomberg that some of his phraseology is just too good not to “steal” for later use. As Howard Ruff (remember him?) once told me, once I steal and use a line, it is officially mine. To wit:…
1/ The Sunday River ski resort near Newry, Maine is a sprawling 870-acre complex of 135 trails spread over eight mountain peaks. Known for its consistent, high-quality snow conditions, the resort is a popular destination for skiers of all skill levels.
OMG, what do i do? I have two black sons, two Korean twin daughters, a blond (now bald), a brunette and a redhead plus a Choctaw son via Shane. I must be all kind of racist. Silly me, i just thought I was being a father.
This is the very definition of the protected class vs the unprotected. The businesswoman struggling to survive is unprotected. The movie elites are protected. Enabled by Gavin Newsome and liberal mayors who protect their own and ignore small business. Despicable shame on them.
I find this interview with Ackman fascinating. This is a side I have never seen from his appearances. He was clearly as Dem in the past but now…? He longs for a center. Just like so much of the US. But good on him for taking DEI and woke colleges on.
MUST WATCH:
Bill Ackman on the 2024 election.
“Trump will be our next President if Biden is the candidate… What the Democratic party, what left means today, is not a party I want to be associated with.”
Ian makes a powerful point. When we negatively generalize a segment of people by race or education or job or where they live, we dehumanize them. We say they are somehow less than us. That way lies concentration camps and war.
I am stunned at how many people believe “rural working class whites” = racist and that it’s acceptable to mock the entire group accordingly.
This from people that would never consider making such generalizations about blacks or hispanics or muslims.
This. Has. To. Stop.
A Currency Crisis?
When the long-term charts all start pointing to a single event risk, I pay attention.
When those charts are at the KEY level, I focus.
And when they break, it is time for action...
Something really BIG is going on...
My 12 year old daughter is getting fed up of being called carrot etc now. Ive told her every like is a show of love for the hair. Help me out please guys!
Currying favor for their protected class friends. Basta. Enough. Same rules for everyone. If you lockdown then everyone gets locked down. When elites don’t have to play by the same rules, then it is time to change the politicians, no matter which party. BITFD.
@EpsilonTheory
@DiMartinoBooth
The most important thing to watch this earnings season will not be the income statement but the balance sheet to see who can ride this out and those that will need help or just can't.
The new way to express accounting numbers, EBITDAC. Earnings before interest, taxes, depreciation, amortization and Coronavirus. It is tragically, sadly funny.
“Just as you don’t find eagles living in the ocean or fish living on mountain tops, so you don’t find leftists concentrated where their ideas have to stand the test of performance.”
— Thomas Sowell
Don’t know when he did this but his point is timeless. We expect pilots to be perfect. No “bad apples” allowed. You have to land that plane every time. Some jobs just come with high expectations.
I am the second most unelectable person in the US. I hold positions which will offend every demographic- often conflicting. Mind you, they are well thought out and reasonable to me. Kamala Harris is
#1
. I could take her straight up. There is no there there.
BREAKING: A new poll from Harvard University shows Florida Governor DeSantis losing to Vice President Kamala Harris in a hypothetical head-to-head match up for the presidential race in 2024, throwing cold water on his presidential aspirations. RT IF YOU THINK THIS IS GREAT NEWS!
I’m traveling so my series on cycle theories will continue next week. Meanwhile, now is a good time to review what we’ve learned so far. 🧵Quick thread:
How can one argue with a straight face vaccines are not saving lives? And the ONE death is almost always a serious comorbidity or someone close to death anyway. No less tragic, but nor a true vaccine issue or failure. Get your vaccine. Save your life
First, they cover up the virus data. Then blame foreigners and blacks and stir up racism. Then they take away freedom. China is not a responsible member of a civilized world.
Demand for energy is coming from the rest of the world. Energy usage is directly related to wealth, income and GDP. The developing world needs and wants more. we will need 10 million more barrels a day in five years, plus another few tens of millions to replace due to normal
For all of them. But they are all my children. My bank account will confirm that. LOL. But making fun of people who adopt biracial is not within the pale of decent behavior. Ask my kids when we would go to dinner and people would stare, especially when they all called me dad.
Want to see a communicator? A master of the art? Watch Zelensky. Then watch it again. Watch his body language. His timbre. I know that times choose the man, but dear gods, he was ready to step up. I bet he wrote the speech himself. It was from his heart. Just wow!
Contrast Putin's speech with Zelensky's today:
"Very soon there will be two Victory Days in Ukraine. And someone won't have any.
We won then. We will win now. And Khreshchatyk will see the victory parade – the Victory of Ukraine!"
Kuppy
@hkuppy
has the BEST stories. Turns out we both banged around Africa. I almost always win the Africa stories contest. I can’t hold a candle to Kuppy. He was young and had no fear. Seriously, get him to tell you how he turned $6,000 he made cleaning pools at 19 into $300,000
Shutting down multiple pipelines, no drilling in ANWAR and Fed lands. Killing funding for CapEx. And they whine about the middle East and Russia not producing enough. We are down in the US 2 billion barrels a year after Trump. totally Biden and his policies, no other explanation
In fact, the administration tried hard to inject even more stimulus into an already over-heated, inflationary economy and only Manchin saved them from themselves. Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country.
Only a stupid world runs out of uranium. Uranium can be made from old spent uranium from nuclear “waste.” It must be re-refined as the U2 is still there (like 98%) but that is ultimately cheaper than new if prices keep rising. It is just the thought that keeps that from
Expound the profound-Cut'n thru bs 1 layer @a time
Today we listen to “scientists” whose radical ideas destroy the habitats they wanted to preserve and kill scores of humans and billions of dollars. What we need are the people who successfully managed those forests for centuries instead of radical politicians and scientists
Let me wish everyone a very Happy New Year from Shane and I. 2021 will hopefully be our best. And I want to thank my followers for their time and attention and my resolution for 2021 is to be more worthy of it.
If you can watch this without a tear in your eye, even for the umpteenth time, you have no soul. This is humanity writ large. This is why we can be optimists in the face of all the BS, politics and crises. Over time, innovation wins.
I have been saying for years that Chevron was the worst decision of the SCOTUS in the last century, by the judicial activists on the court at that time which most of them were, which gave massive powers to the bureaucracy. Congress is supposed to make the laws. They have staff
They do not “manage” it. They cannot remove deadwood or harvest trees to allow for proper growth. By LAW. Passed by politicians. Over the objections of actual forestry experts.
This just might be the funniest thing I have seen in days. TikTok tips on how to drive abandoned Russian tanks. How the hell do you beat that? Also seriously amazing.
Ok, maybe it is late at night, i can’t get out, but this still made me laugh as much as anything in a long time. In a world of Beirut, Antifa, partisanship and Covid, some laugh times with friends is good for the soul. Even if it is in Dutch. No translation needed to LOL.
No parody sadly. This guy was secretary of labor and an academic. No actual business experience so does not understand margins, overheard, etc. the scary thing is that he is allowed to teach your children economics and such.
I may or may not have spent the las 15 minutes watching this incredible display of talent and “never-give-up..” I have no idea who they are but I would hire them just for spirit of raw determination and grit.
If you are a climate warrior, higher gas and energy prices are a feature, not a bug. It makes solar and wind more competitive. They WANT higher energy prices, just know consumers (read voters) don’t. All lip service, no action. And never even think nuclear, or real carbon free.
Richard, you and Ibram Kendi are not just simply wrong. You insult all adoptive parents and adoptees and in this case you are both extremely racist. My black sons are not ‘props’. Think about what you just implied about family and love. You know nothing.
Andrew, how can you seriously not be for free speech? In the country that gave us Orwell you want thought police? Consequence for thought is prison but the thuggery isn’t? Have you gone mad in your desire not to hurt some people’s feelings if they might vote with you? I grieve
@JohnFMauldin
I don’t agree John. People need to take responsibility for their actions and spewing hate on social media shouldn’t be consequence free. Im glad we don’t have the first amendment, or the second!
We will not get close to net zero without nuclear being the primary source for electricity. Not just in developed world but everywhere especially in China. China is at least building new nuclear power plants, not shutting them down like the luddites in the woke climate movement.
I had this conversation several times in NYC this week with friends. The world is upside down when (names withheld) and I agree with Bill Maher and Matt Taibbi on platforms editing my searches? Censorship? When Peggy Noonan quotes Maher? Approvingly? Time to get pissed off.
I’ve been writing a series on cycles from five different viewpoints. 2-3 letters on each one. Read them at . Click on Thoughts from the Frontline and you can subscribe for free. And for fun, the deeper we dive the more I feel like this:
What's the lesson of Afghanistan? Maybe it's that everyone from the giant dorm room bitch session that is the internet should take a good look at what real oppression looks like.
#Wokeistan
#WakeUpCall
I keep seeing the histrionic screams about the overturn of Chevron. Chevron was the single worst decision of the last century. it ended up powering an unelected bureaucratic elite to rule our lives without any appeal to any court anywhere, except the courts within the bureaucracy
I agree with Jim. Hard to cut interest rates third quarter before the election. Unless there are CLEAR reasons to do so. Bostic says one and a pause? Till after the first Tuesday of November? Jim will be speaking at my SIC next month with 50+ others. Join us.
Prepare yourself! We are very close to a screaming red headline that the market has priced out (below 50%) a June cut (blue). After this week's Payroll, CPI, and PPI beats, it is at just 54% (see the March 7 vertical dotted line).
If June falls below 50%, I think July (red) will
I love the smell of panic in the morning. Dear gods, what were they thinking? Worst mixed message ever. Three days until a meeting. Everyone assumes they know something terrible other than simply just panicking.
Impossible position for Chris Cuomo.
Says he can’t cover Gov scandal because it’s his brother. But covered him extensively when the media considered him a COVID hero.
Can’t have it both ways.
Do we go to negative rates or is zero the lowest the Fed will go?
Is 2% the new floor for Jerome Powell?
Danielle
@DiMartinoBooth
joins the podcast to discuss:
Luke is right. (
@LukeGromen
) the entire Keynesian world is a theatrical performance in magical thinking. Especially about energy. None of the understand logistics. We literally do not have enough minerals to build the solar and batteries to power EVs that are projected. Assume..?
Krugman appears to be operating from a first principle of “assume sufficient quantities of affordable energy” in this UK currency crisis thread.
This is the same mistake most western policymakers have made since February: Without sufficient cheap energy, most debt will default.
Robert, once again you demonstrate that you have absolutely zero understanding of business. Clearly, you seem to think that the state should be able to control prices or control the businesses. Not dissimilar from what happens in socialist countries or in (dare we say it?) Nazi
Kroger claims it will lower grocery prices by $1 billion, but only if allowed to merge with fellow grocery giant Albertsons.
Folks, Kroger is admitting it has too much pricing power already.
A grocery store mega-merger will only give it more power.
The deal is a rotten egg.
If oil & oil stocks are not putting in a top today,they are darn close to doing so.I have had a target of $90 on XLE,which it hit today. My downside target for XLE in the bust & bear next year is $20.I continue to think oil is at cycle highs & will fall to $30 in next year's bust
I recommend that you read this rather long post from
@BillAckman
on plagiarism. And then the attack on his wife from Business Insider. It is really caused me to think about my own work. I think I am pretty scrupulous about plagiarism, at least as I define it. I don’t think using
Last night, no one at
@MIT
had a good night’s sleep.
Yesterday evening, shortly after I posted that we were launching a plagiarism review of all current MIT faculty, President Kornbluth, members of MIT’s administration, and its board, I am sure that an audible collective gasp
This is a chart crime on two fronts.
1. Different scales (Most overlays can be made to look similar when using different scales).
2. The calculation of CPI changes over time. The blue line is not the same methodology as the orange line.
Fortunately, there is a famous economist
I have to admit I just don’t get this. We ahve our own issues but lack of freedom of speech? Seems like asking for a little pushback. Of course, we did that 248 years ago, and it wasn’t really about tea taxes. My many Brit friends like to tell me about their freedoms. This seems
The Grey Lady is now a force for apology and excuses and political correctness. Since when is a beheading a “knife attack?” Is a Nazi gas chamber a chemical attack?
Can someone tell me how these demands make education of the the kids any better? Teachers unions are about teachers and not kids. At least in LA. Fire em all and start over.
LA Kids Held Hostage by Teacher's Union.
Here's just some of the union's demands before reopening:
1. Medicare for All
2. 1% Wealth Tax
3. Income Tax Increase
4. Repeal Prop 13
5. Defund Police
6. Financial Aid for Illegal Aliens
#NewNormal
Read