Daniel Rubin ✅@ForeignSubstance @plutus @johnserwach
It has to be systematic. That's what the law says
Plutus@rubecube12 @ForeignSubstance @johnserwach
No one does math brah
ForeignSubstance ✅
John Serwach ✅@rubecube12 @plutus @ForeignSubstance I’d prefer to see the full clip but- I really don’t have a problem with her answer (minority view) 🤷🏻♂️
@johnserwach @rubecube12 @ForeignSubstance
Unfortunately, most Midwest voters are like hygienists by their political persuasion
@plutus @johnserwach @rubecube12 Just a no-win Q in any case. "Do you want a bank run, or tighter credit?"
"Sir, may I have another?"
@ForeignSubstance @johnserwach @rubecube12
Of course Lankford spent all-night crafting this question; Yellen could've been much smoother
@ForeignSubstance @johnserwach @plutus
Podunk community banks are free to fail, but most of them have less than 50 billion dollars so thamwy are free from regulation even under the full Dodd frank law pre 2018. Yes there is different treatment, but that treatment comes with increased regulation
@rubecube12 @ForeignSubstance @plutus
I don’t think Joe six pack is concerned- he’s covered. Sure, the pines’s of this world are out buying silver bullion & MRE’s & ammunition - and the elites like the present company, well, u can only have so many accounts, amirite ? So I’m sure you guys keep your overage at the big guys. I imagine the Oklahoma wildcatters do the same.
@johnserwach @ForeignSubstance @plutus
Yeah nobody is keeping there overage at some small cap credit union. Unless they have an exclusivity clause like SVB put on all their clients
@rubecube12 @johnserwach @ForeignSubstance
Same dude who wants to break-up FANG because they are oligopolies but it's fine to kill small banks and leaving just the top 4 is ok.
I keep receipts Danny.
@ForeignSubstance @plutus @rubecube12
Dan, did you pass that stone yet ?
@ForeignSubstance @johnserwach @plutus
https://www.instagram.com/reel/Cpx2YW3DCEx/?igshid=YmMyMTA2M2Y=
The Betches Sup on Instagram: "Justin Wolfers, professor of public policy and economics at the University of Michigan, reacts to claims that diversity and representation caused the SVB bank collapse on @11thhourmsnbc with @stephruhle. Per usual: It’s the white men."
9,646 Likes, 169 Comments - The Betches Sup (@betches_sup) on Instagram: "Justin Wolfers, professor of public policy and economics at the University of Michigan, reacts to..."
@rubecube12 @ForeignSubstance @plutus
Kelton once again is the only voice of sanity in this madness—
@johnserwach @rubecube12 @ForeignSubstance
How many banks have to blow up before we realize it’s the conditions they are operating under and not the excesses of a few bank executives. Dick Fuld at Lehman was 100 times more deceptive during GFC than Becket ever was at SVB yet no one singularly put the blame on Lehman.
Powell’s mishandling if monetary policy should not reflect on Biden. Yet I feel many democrats go out of their way in defending Powell.
@plutus @ForeignSubstance @johnserwach
21 trips. 350. We're growing at 10% nominally. Where are all those cash gains going? Not the market
@ForeignSubstance @johnserwach @plutus
GDP NOwcast 3.2% with 6% inflation. = 9.2% nominal growth. You're the one spewing alternative facts concocted out of who knows where. Like Elon and FSD
@rubecube12 @ForeignSubstance @johnserwach Atlanta Fed doesn’t know it’s head from its arse. They could revise it 200 bps in a month and have done in the past. I track shit on the ground.
@plutus @rubecube12 @ForeignSubstance
Just going to leave this here. Help you guys open your mind to what’s going on, or not— or as Dan might say “how come?”
https://stephaniekelton.substack.com/p/magical-thinking-monetary-thinking?utm_medium=email
@johnserwach @rubecube12 @ForeignSubstance
I've been up on MMT for 7 year; chattin up Tankus, who provides a lotta the substance for her
@johnserwach @rubecube12 @ForeignSubstance This ain’t a sign of health and only SVB’s fault https://twitter.com/WallStJesus/status/1637121880678338560/photo/1
@rubecube12 @ForeignSubstance @plutus yeah the discount window is not where they want to go. How long till the market figured that out.
@johnserwach @rubecube12 @ForeignSubstance
Arresting just for Stormy - has to be more or else lame
@rubecube12 @ForeignSubstance @plutus Justice is blind—
Desantis is done - probably eats his candy bars with his hands too—
@johnserwach @rubecube12 @ForeignSubstance
How much dirt does Guo Wengui have on Trump - I bet plenty. Did he spill beans - ummm...
https://twitter.com/CNBC/status/1636334791862755330?s=20
@johnserwach @rubecube12 @ForeignSubstance
Guo wengui built his fortune by collecting & leveraging compromising information on all sorts of powerful and connected people. There is 0 chance he didn’t try this on DJT
@ForeignSubstance @plutus @rubecube12
Not sure what he’s gonna do? Make a deposit ? Tell people “banks are safe? Tell other rich people “banks are safe”?
@johnserwach @ForeignSubstance @rubecube12
Co-invest...
@rubecube12 @plutus @ForeignSubstance
I don’t think so- he hasn’t sufficient liquid funds for that- he has maybe $150B - this is gonna need more like 2T - not a damn thing buffets gonna do.
@johnserwach @rubecube12 @ForeignSubstance Buffett is not brought in for the money but to instill confidence while he gets sweetheart terms. The situation is worse than even I imagined - not just a regional bank problem or shadow banking or CRE.
@johnserwach @rubecube12 @ForeignSubstance it’s always been a specious argument posed by Will and Danny - “well the Fed is forced to tighten because they were so behind the curve”. The issue was never binary (tightening or not) but pace and magnitude. Duration risk at this speed was always an issue as Whalen and Bove posited months and months ago. There is a severe lack of understanding of how real economy works by the Fed -
@johnserwach @rubecube12 @ForeignSubstance just because consumers are still spending like mad doesn’t mean the cap mkts/lending environment isn’t in disarray. They have no fookin clue what they are doing. Most importantly there is no adequate evidence that supply chain resolution has NOT been the much bigger driver in shift to disinflation. Fed will never admit because it obviates the need for them.
@ForeignSubstance @plutus @rubecube12 supply chains have been the only issue.
Someday, someone, will understand that not ALL inflation is at risk.
I suspect the government is extracting brutal terms from the entire banking industry even as we speak. #AboutTime
@johnserwach @ForeignSubstance @rubecube12 even though severe hiking doesn’t work - Danny wants it anyways just to inflict pain - schady…
@johnserwach @plutus @ForeignSubstance
If there is a pause hiking will continue at a slower pace until rates are higher than inflation. I dont want anything. I'm just saying what I see.
@rubecube12 @johnserwach @ForeignSubstance even in the 70s when we had much more slack and higher productivity and organic growth - inflation was still resolved because natural supply resolution and not Volcker. Now we have a more mature economy the natural normalization in prices is many times faster. Heavy-handedness is absolutely unnecessary and inflicting needless pain part of which is to buffer The Fed’s role.
@plutus @rubecube12 @ForeignSubstance
Is inflation in the room with us now ?
@johnserwach @rubecube12 @ForeignSubstance yes it’s called Uber eats when food delivery should be free
@ForeignSubstance @rubecube12 @plutus
That’s a choice, not a mandate.😉
@johnserwach @ForeignSubstance @rubecube12 knives are our Daly is suppose to be a dove but taking cues from administration- [Tweeted](https://twitter.com/zerohedge/status/1637440483600355328)
@johnserwach @ForeignSubstance @rubecube12 let’s get it through our heads Danny 95% of democrats in congress wants Fed easing only masochists like Manchin and Tester don’t.
@plutus @ForeignSubstance @rubecube12 is Bernie the half ? Since he’s a little in and a little out ?
@johnserwach @ForeignSubstance @rubecube12 The very point I've been tryna hammer home to kids like Danny for over a year
@rubecube12 @ForeignSubstance @plutus
I don’t think Dan’s calling for the end of the banking system, or a BTC maxi or anything g or did I miss that ? 😂
@johnserwach @rubecube12 @ForeignSubstance
Eyes are too big for Volly
@ForeignSubstance @johnserwach @rubecube12
Dannys have to eat
@rubecube12 @ForeignSubstance @plutus
It’s never “just the tip” 😂😂😂
@ForeignSubstance @rubecube12 @plutus thank God- a collision is the LAST thing you need right now!! Lol- does that include tips ?
@ForeignSubstance @plutus @johnserwach
Yeah that includes 30 dollars in tips
@ForeignSubstance @johnserwach @plutus
But more will roll in over the next few days
@rubecube12 @ForeignSubstance @plutus
Oh, that’s better then.
@johnserwach @rubecube12 @ForeignSubstance
If Dems did similarly - they would be crucified. Recrimination is completely asymmetrical - why
https://twitter.com/mmpadellan/status/1637552516601618432?s=20
@johnserwach @plutus @ForeignSubstance
Crony QE capitalism. It neefs to end.
Robert Reich (@[email protected])
Don't be distracted. The big story isn't "woke capitalism." It's crony capitalism that allows the wealthy and corporations to roll back laws to line their own pockets.
@rubecube12 @johnserwach @ForeignSubstance
Free flow of capital is the essence of globalism
Petty battles is what people backing Trump (he's just the symbol, there's a bigger evil underneath) wants you to focus on. Eye on the prize Danny.
Mature economies, astronomical amount of debt, and you have nativists out there trying to undermine democratic govts at every turn.
@johnserwach @plutus @ForeignSubstance
I'm all for the free flow of capital. I'm against the concentration of wealth that occurs by bailing out failures over and over again. Free flow of capital does not mean the printing of money suppory elites
@rubecube12 @johnserwach @ForeignSubstance
I get the feeling of unfairness - many disparate underprivileged groups have felt the same throughout history. We must sustain the incentive system in our culture and not just singularly strive for this "faux equity".
@ForeignSubstance @plutus @johnserwach
This isn't capitalism. It incentivizes bad behavior. This is bailout the rich and let the poor suffer. Its not possible without the Chinese working class competing for jobs via free trade. Its coming to an end. The reagan miracle is 100% a product nixon's detante. Nothing else.
@rubecube12 @plutus @johnserwach Once again, size matters. I believe capitalism is inherently unfair, and unstable, at size. We can argue about the size, about the number of tiers, about "rules of the road" for various tiers, etc. That's politics. But we cannot argue that a leviathan is the same as a perch, and that swimming in the leviathan's wake doesn't have important social & economic consequences—sometimes admittedly even good ones. But often adverse. This notion that "it's all capitalism" and it should all be left alone just on that basis, is toxic.
@ForeignSubstance @plutus @johnserwach
They can't have it both ways. Socialism for me but not for you
@ForeignSubstance @plutus @rubecube12
Governments hiring Dan - UsaJobs
@johnserwach @ForeignSubstance @rubecube12
Lev Parnass destroying all the MAGA narratives on this space - love it
ttps://twitter.com/i/spaces/1ZkKzXOXajXJv
@plutus @ForeignSubstance @rubecube12
Ok Yuki- it’s game on!! 🇺🇸🇯🇵⚾️⚾️⚾️🧢🏟️
@plutus @ForeignSubstance @rubecube12
Dan, offer to represent her pro bono- this could be your first “starter marriage” —
@johnserwach @ForeignSubstance @rubecube12
The guy who runs the largest Twitter space
https://youtu.be/SAi99ov5OKM
https://youtu.be/Ol8-h8WGyFo
Follow the Money - The Mario Nawfal Files - Part 1
@johnserwach @rubecube12 @ForeignSubstance
Someone more substantial than Alvin Bragg should go after Donnie. Can't be just about wine women and graft.
https://twitter.com/MarioNawfal/status/1637895302471634944?s=20
@rubecube12 @ForeignSubstance @plutus
Cheap bastards.
@johnserwach @ForeignSubstance @plutus
Probably get a year of pause maybe a cut or 2 but then unified government happens in 17 months. Fiscal impulse secured. Hiking continued.
@johnserwach @ForeignSubstance @rubecube12 more shit has to be written down - 🚨 Credit Suisse $CS, which ended Friday with a market value of about 7.4 billion francs ($8 billion), believes the offer is too low and would hurt shareholders and employees who have deferred stock, according to people with knowledge of the matter. https://t.co/qFn91Yr6vH
@johnserwach @ForeignSubstance @plutus
Thats already old news
Credit Suisse Said to Push Back Against UBS’s $1 Billion Offer https://www.bloomberg.com/news/articles/2023-03-19/credit-suisse-said-to-push-back-against-ubs-s-1-billion-offer
