New York has weird laws and remarkably stupid regulation. Part of the weed legalization here was that dispensary licenses can only be granted to convicted felons. Especially handicapped transgender felons of color. I am not joking. But true to their stupidity, the laws are written badly enough that entrepreneurial types like us can find both non-psychoactive and psychoactive products that can be legally sold. We are forbidden by our lease (with the university) to sell alcohol, but this somehow slipped by. So we’ll be reefering up the over-21 students, which not only generates a profit, but is likely to enhance the sale of pastries and breakfast sandwiches. And it will likely piss off the university. Win-win.
And speaking of winning, some people won the birthday sweepstakes including a man of current events; a guy I would never patronize; a guy I was dying to meet; a guy always up for a road trip; a guy who anticipated the Boring Company; a guy who was actually not afraid; another guy who followed the familiar arc from activist to grifter; a woman who gave Young Man With Candy a funny feeling in his bathing suit area; one of Santa’s little helpers who isn’t an elf; an expert at animal transport; a guy who always find the plate and the best shit; and a woman whose brain and intellect are equal to her legs.
Let us now bow our heads and Link.
I’ve seen this before. Say, where is Stan Pons these days?
Universal explanations are always nice.
And you know that we taxpayers will be on the hook for a bailout.
It takes work to make sex boring, but you can always count on Netflix.
Old Guy Music is a song I know well on flute. For whatever reason, they didn’t call me to sit in, and they subbed Sierra Hull’s mandolin. Antisemitism, I sez.
Fuck DST
With a rusty chainsaw and capsaicin lube.
No. Fuck our feckless, corrupt, treasonous, mendacious, asshole, pedo politicians who can never seem to unfucked anything they have done wrong in their criminal lives.
Embrace the healing power of ‘and’.
Unfuck! I need more coffee.
“The proceedings’ primarily non-explicit depiction of professional porn is similarly misleading, epitomized by footage of Dahl making cutesy penis-review videos and chatting chastely with two co-stars on camera about what turns them on (their answers: “sensual making out” and “kissing”).”
Are people that naive?
“ Although this material also relies on a diamond anvil cell, the study found that it begins exhibiting superconductive behavior at a pressure of about 10,000 atmospheres—roughly 100 times lower than the pressures that other hydrides require. ”
So close to real world conditions… so close…
https://youtu.be/z1CM2oIeNRQ
Just squeeze it really hard.
It’s how we will get electric cars that magically defy physics!
Hopefully the SBV collapse is only contained to that sector (sorry tech glibbies). I’m not in a good spot to handle *another* crisis at the moment. I’ve also been lazy with my 401k and just contribute but never mess with how things are allocated. So I wouldn’t be surprised if that’s gonna tank soon.
On a related note, are there banks that are more immune to bank runs than others? Like, I just want someone to safeguard my money. Don’t loan it out. I’ll pay 20$ a month or whatever. Wife and I use BoA, mainly for convenience, but I’ve been wanting to switch for awhile (their allegiance to the Feds over their own customers regarding the J6 rioters left a bad taste in my mouth). Might check out one of the credit unions in town.
Most banks are about 30 to 50% covered by FDIC.
SVB was about 2.7% covered.
Their loans were almost exclusively to tech sector startups and then they took their cash and put it in long term Treasuries. That’s a double bet on low interest rates.
This made them very, very runnable.
And consider that their deposits were mostly from their loan asset base.
That is not to say that in a real banking crisis that FDIC insurance means much. It will get depleted rather quickly.
It’s just a way to encourage depositors of less than $250k to keep their money in the bank and help prevent the run from starting.
Haven’t people been arguing that the insurance rates on accounts were to low for years?
Compared to the reserve requirements, absolutely .
*insertronpaulgifhere*
10 year MBSs no less. In 2021.
Fucking fools.
This is exactly the right thing to do! [Disclaimer: credit union employee]
Mind giving me a quick rundown on the differences between a CU and a bank?
A credit union is essentially a financial co-op. While a bank has account holders and shareholders (of which, of course there is bound to be overlap,) in a credit union, they’re one and the same – the account holders are the owners (and are referred to as members, not as customers.) The required savings account is called a “share account” for that reason, and all account holder/owners vote for the members of the volunteer Board of Directors. Since we don’t have a separate group of shareholders, CUs are in a better position to pay higher interest (“dividends”) on deposit accounts and to charge lower interest rates on loans.
Deposit insurance for credit unions is separate from the FDIC – most CUs are insured by the National Credit Union Share Insurance Fund (NCUSIF.) (A small percentage of CUs – including the one where I work – have switched from Federal insurance to strictly private insurance after a vote of the members.)
Also, you have to qualify for membership in a given CU. In the past, most CUs were based on things like employment affiliation – either working for a specific organization (Navy FCU, the largest US CU last I knew, may still be limited to those in the Navy and other branches of the military,) or in a specific industry, such as city or state employees. The trend for the last 20 years or so, though, has been toward a “community charter,” where a given CU can admit members who “live, work, worship, attend school, or do business” within a specified geographic area, such as a bloc of certain contiguous counties.
And like banks, they can be either state or federal chartered, if that matters to you.
Yup. Our state charter and private insurance certainly limits (though I don’t believe it necessarily eliminates completely) the control the National Credit Union Administration (NCUA) has over my CU employer.
Surprisingly, their head of risk management was not focused on actual financial risk, but on, wait for it, yup:
Diversity and inclusion.
https://twitter.com/ComfortablySmug/status/1634586269807149062
To be fair today that is a big risk…
LOL. Always unfortunate when they’re cute and crazy.
Parody, or beyond parody?
Looks like she’s with SVB UK. I wonder who the US financial risk manager was and what they were up to.
My best is the US financial risk manager is worse.
Ticker had a full segment on this.
Their entire existence these days is steeped in woke politics, from internal policy to who they did business with.
The Big 4 are Too Big to Fail, codified into law by Dodd Frank.
So Trump is responsible for the failure of a bank dominated by lefties and loans to a lefty industry?
Funny how that works.
Sure, just like Trump is somehow responsible for the “migrant” crisis, even though it wasn’t a crisis when Trump left office.
It’s always been a ‘crisis’, I’ve been hearing about the coming post-apocalypse hellscape bought about by unchecked illegal immigration my entire adult life.
The numbers went through the roof the minute Biden was elected.
Yes, there has been a steady stream of illegal immigration my entire life, but the ebbs and flows tended to mirror the economy. They dipped somewhat when Trump took over and skyrocketed when he left.
whaddup doh’
yo whats goody yo
TALL SABBATH CANS!
Good Morning
+1 Credit Union….
Two questions:
#1 Cocaine Mitch still in hospital?
#2 What happened to that case where the defense got to much info from the FBI? (FBI casually talked about destroying evidence?)
That evidence was for a different case according to the FBI, which is what the media is of course reporting as fact. Of course no one has asked why is it Ok to destroy evidence in any case.
Covfefe… yes…. good…
Irish covfefe for me.
Must be Spring, the Northern Flickers have arrived
In Tucson, the Northern Fuckers usually leave in the Spring.
We’ve had a recent migration of them into the area.
“Minnesota dad uses moose antler to slaughter 77-year-old sex offender he claims was stalking daughter – before turning himself in to police station ‘covered in blood'”
https://www.dailymail.co.uk/news/article-11848881/Minnesota-dad-uses-shovel-moose-antler-kill-77-year-old-sex-offender-stalked-daughter.html
Minnesota nice?
That’s old school right there. Bronson-worthy.
“A criminal complaint filed on Friday said Axtell repeatedly struck Scully with a shovel”
Russian army deserter?
“The great vape sham: How super-strength e-cigarettes conquered America and may have made lifelong nicotine addicts out of children – all while posing as a ‘safe’ alternative to tobacco
But scientific evidence pointing to their deleterious effects is piling up and shows they cause nearly or as much damage as traditional cigarettes.”
https://www.dailymail.co.uk/health/article-11808905/The-great-vape-sham-super-strength-e-cigarettes-conquered-America.html
Bullshit.
There are not nearly as many vapers as there were smokers when I was a kid.
I’m seeing 5% vape today
hell, 40% of men smoked when I was a kid
Someone having the vapors over vapers?
Where there’s smoke, there’s fire?
Oh, wait . . . .
Time to ramp up that moral panic again, I guess.
Complete with the “unexpected outbreak of severe lung injuries in children across the US” from, what, five years ago, and which was connected to shady Chinese junk? And never heard of since?
Assholes.
“After ordering repeated private autopsies to get the results they want, the family of the Atlanta far-left occupation gunman (Manuel Esteban Paez Terán) now claim he had his hands raised when he was shot dead. The gunman seriously wounded a Georgia state trooper & forensic ballistics testing matched the bullet to his pistol. Their 2nd private autopsy has not been released but this is the NPR headline anyway:
[picture]
The misleading @NPR report about the Atlanta leftist gunman was unsurprisingly written by Antifa supporter, @kaityradde. cc: @terencesamuel”
https://twitter.com/MrAndyNgo/status/1634641417963294726
SCIENCE!!!!
My hands are raised when I shoot. To eye level, not above my head, but still. . . .
It all depends on how you define the word “is”…. err…. “raised”.
Narrative above all else
Antifa, more than anything else, is about creating maximum social strife. They lie constantly to achieve that because they think their utopia will rise out of the ashes of society.
Of course they’re going to use that asshat’s death to create more division.
The Wikipedia entry on him is predictably even-handed.
https://en.wikipedia.org/wiki/Killing_of_Manuel_Esteban_Paez_Ter%C3%A1n
“non-binary eco-anarchist”
*swoon*
Don’t stop there…
who was shot and killed by a Georgia State Patrol trooper after an altercation wounded an officer during a raid of the Stop Cop City encampment on January 18, 2023 (some believe the officer was wounded by friendly fire)[3][4]. The wounding initiated fire from police, killing Terán. At the time Terán was shot the family claims their hands were up, based on their recent independent autopsy results, which showed bullet exit wounds in both hands[5][6]. The claim of friendly fire is disputed by the Atlanta Police Department, who claim Terán fired without warning.[7]
The altercation wounded the officer.
That’s a euphemism worthy of a local news station.
I’m sorry but did they verify their pronouns before going
they’retheirthere?Do better, Wikipedia authors.
Bullet exit wounds in his hands? He was holding something at chest level, probably a weapon of some kind.
Terán? Damn Iranians.
Glib poll.
Superconductivity, cold fusion, SMOD. Which of these is most likely to occur within the next 10 years?
Cold fusion, which will promptly be banned because it interrupts the migratory patterns of Canadian Hate Birds.
Superconductivity.
The earth being destroyed by the climate is also on a never ending “in 10 years” cycle.
According to the news the other day, SMOD will miss us.
Zerohedge is going full blackpill/DOOOOM this morning. I’m not buying it.
*swoons
*Tinfoil hat inflates like Jiffy Pop over a fire
Which of these is most likely to occur within the next 10 years?
Perpetual motion machines.
Governmental fiscal responsibility.
“Greta Thunberg deletes 2018 tweet saying world will end in 2023 after world does not end”
https://thepostmillennial.com/greta-thunberg-deletes-2018-tweet-saying-world-will-end-in-2023-after-world-does-not-end
I just like the headline.
Expected the Bee.
TBF, the claim wasn’t that the world would end in 2023, only that it would end if we didn’t stop using fossil fuels by 2023. (Still ridiculous.)
The world will end either way eventually.
Fact Check: SUPER TRUE!
sin,
Politifact
Bbut she can hear the carbondockside! It must be twoo!
More importantly, the world in 2023 is about the same as in 2018.
“On Friday, federal regulators seized the Silicon Valley Bank (SVB) following a run on the bank, and streaming device company Roku said that 26 percent of its cash and equivalents, approximately $487 million, had been deposited with the bank with the Federal Deposit Insurance Corporation (FDIC) only guaranteeing insurance on deposits up to $250,000.
According to the New York Post, in a regulatory filing, Roku claimed its “deposits with SVB were largely uninsured, sending its shares down 10 percent in extended trading.””
https://thepostmillennial.com/roku-had-487-million-in-deposits-with-fed-seized-silicon-valley-bank
The remote control should have numbers.
The largest depositor appears to have been USDC, a stablecoin.
$3.3B is gonna hurt.
“It’s a write off.”
“You don’t even know what a write off is.”
“Do you?”
That’s not even real money.
Been looking at TV’s. Too many are removing buttons because they are voice activated. Fuck that.
What if you are a mute?
Most Android – based TVs are so difficult to navigate that losing buttons is a big deal. I prefer the Roku remote. All other functions are tied to on-screen navigated items in settings. Yes, it has few buttons. The remote you can put on your phone is pretty cool too. I got so very tired of three remotes with forty buttons each that I went completely the other way.
The voice thing means everything you do goes through their servers.
My Roku remote’s don’t gave that option.
One of the most obvious lies is the “Of course our microphones aren’t always on.”
If they aren’t, how do they hear the prompt?
An appropriate tune for the evil dope pushers in the Southern Tier (probably NSFW)
https://m.youtube.com/watch?v=Z-jhFJopT_8
Trump caused the SVB collapse? Was that before or after he banned brakes on railroad cars?
No,it was after he permitted air traffic controllers to allow two planes to use the same runway at the same time.
“JUST IN: Censored video re-emerges of Jacob Chansley reading Trump’s tweet, telling protestors to GO HOME and remain peaceful..
WON’T SEE THIS ON CNN…”
https://twitter.com/ChuckCallesto/status/1634039108958932995
Lots of stupid comments….
The “Nazis are leftwing” line is stupid. You could argue that they were revolutionary and anti-conservative. But not that they were “leftwing”. But the “they murdered socialists and commies” is an argument which also applies to the Soviet Union.
https://twitter.com/residentadviser/status/1634901703597383680
It’s all relative.
Rainer Zitelmann says hi.
We must reduce everything to Left(Good) / Right(Bad)
These are brilliant people, just don’t ask them about the collectivism/individualism political divide.
EJ Antoni, research fellow in regional economics with The Heritage Foundation’s Center for Data Analysis, told FOX Business on Saturday that the collapse had “nothing to do with Trump or Dodd-Frank” and more to do with an “unusual confluence of events.”
Antoni explained that the bank “dealt almost exclusively with tech firms which usually rely on continuously rolling over large debts” which means that the firms are “not paying off their debt but simply taking out new debt to pay off the old.”
A Ponzi scheme. How about that?
Reminds me of what a certain government on the banks of the Potomac does.
“SVB was a case of mismanagement that was made possible by the unrealistically low rates from the Federal Reserve,” Antoni told FOX Business.
Now you’re just making shit up.
Ouch…
https://youtu.be/MVE-up9ldfI
Steven Seagal takedown. I had a coworker who was a big long time aikido practitioner he said he was an incredible ass, but his form was actually quite good.
Sometimes I feel like I’ve become “less Marxist” on a surface level, like to others I’ve begun to look like a liberal bc I question some of the basic ideas of Marxism, but really I just stopped pretending that I understood things. I feel much more confused now, but more honest.
https://mobile.twitter.com/Tupacisoverit/status/1634883035119362049
Someone send that person a copy of The White Pill.
*looks at user name*
Can’t you?
SVB, the second largest US bank ever to go under, was hit by a garden-variety bank run accelerated by a high concentration of large uninsured deposits. Yes, there were failures of risk management and regulatory supervision. And there are likely some other banks whose balance sheets have been similarly weakened by the rapid increases in interest rates, which dramatically diminished the value of Treasuries and mortgage-backed securities. According to FDIC Chair Martin Gruenberg last week, banks have yet to recognize about $620 billion of losses in market value caused by rising interest rates.
m/em>
Oh, don’t worry. Interest rates will go back down.
Of more immediate concern is the potentially systemic impact this will have on the tech sector, which has already seen mass layoffs and investments shrivel up in recent months. Close to half of all listed US venture-backed tech and health care firms were SVB customers and many of these companies were racing to line up funds to make payroll in the aftermath of the collapse.
Given US strategic technology objectives and the broader implications for national security, the government should intervene if a significant portion of these tech firms need cash to survive.
Can you say, “house of cards”?
Close to half of all listed US venture-backed tech and health care firms
IOW, start-ups.
National security does not rely on start-ups.
But plenty more may need to be done. The tech sector is an engine of economic growth and a key element of US national security, especially given the rivalry between the US and China. If the government decides that it needs to help the tech sector through this mess, then it will need to act quickly.
As usual, sweeping generalizations are sweeping. There are some “essential” tech firms. There is also a lot of dross (created in large part by too-low interest rates) which should be eliminated, not rescued by government intervention.
https://twitter.com/MeghanChem/status/1634378457672036353
Why so many blue counties in Alaska?
Pedant alert: There are no counties in Alaska. Those are boroughs.
OK, they also look like what I would assume to be the least populated areas.
I’ll guess the Dems have the Eskimo/Indian vote locked up.
I have my reservations.
Good Morning, Old Man!
Congrats on the new venture. I hope you can find a bank that will work with you!
This seems appropriate.
Do Not Click On This:
“Gender Affirming Care is mutilation on Minors! WE MUST STOP IT!”
https://twitter.com/GAGJapan/status/1634399707874357249
Those pictures are real horror show.
Well you warned me…
Challenge not accepted.
My guess is we’re gonna find in a decade or so that far from “you can have a dead daughter or a living son” these victims of medical experimentation will have drastically elevated suicide rates.
A local roastery made an anaerobic Ethiopian which while having the anaerobic funk still has some intense fruit notes, peach and apricot. Not bad.
“anaerobic Ethiopian”
Can’t Namibians breathe underwater?
He then took a serious tone, noting the attack on the Capitol was “one thing I haven’t joked about” and calling January 6 “a tragic day.”
Fuck off.
Reich was joined by other liberals on Twitter attempting to place the blame on Trump for signing a bipartisan bill in 2018 that rolled back elements of Dodd-Frank.
“It seems likely that this could have been avoided if it weren’t for the roll-backs by the Trump administration,” journalist Ed Krassenstein tweeted.
That dastardly Trump. Is there anything he can’t do? Except maybe supplant Climate Change.
Reich and Krassenstein can fuck off.
Yes, legislation written by one guy who was getting preferential loans from a sub-prime lender and another whose fuckboi worked the community reinvestment loans at Fannie Mae is totally going to save us from structural deficiencies in the banking system.
Nobody mention the bail-in provisions in Dodd-Frank.
Back to the dark ages
Manchin, who is up for reelection in another red state, has called on his fellow Democrats to focus more on how the federal budget has swelled from $3.8 trillion in 2013 to $6.7 trillion today.
“Can we just see if we can go back to normal? Where were we before COVID? What was our trajectory before that?” he asked in a CNN interview Thursday.
“How did it grow so quickly? How do we have so many things that are so necessary that weren’t before?” he said of the federal budget and debt.
Nothing to cut.
Our trajectory before COVID was still unsustainable you retard
Still not gonna save your job. Voting for the Inflation Facilitation Act may as well have been a resignation letter.
That is an excellent cover of “Going Up The Country”, probably better than the original.
Do you know if Canned Heat wrote that, or did they do their own cover?
Interesting, more country/bluegrass feel from these guys(and gal)
Wiki sez Canned Heat adapted an existing song and rewrote the lyrics.
They opposed Trump at every turn but somehow a “bipartisan” bill is his fault. Their batshit craziness keeps getting batshittier. The scary part is there are still people who believe this.
TMITE
The Death of Silicon Valley Bank
They really fucked up.
Leave Kamala alone
Elizabeth Warren has called twice to apologize. Over a month later, Kamala Harris hasn’t called back.
In a local Boston radio interview in late January, Warren was enthusiastic about President Joe Biden running for reelection but, asked if Biden should keep Harris as his running mate, she said, “I really want to defer to what makes Biden comfortable on his team.”
The incident and its aftermath, different details of which were described to CNN by multiple people close to the Massachusetts senator and people close to the vice president, has fed an ongoing breakdown of accusations and purported misunderstandings.
“Pretty insulting,” is how one person close to Harris described the feelings of many in the vice president’s office and in her wider orbit.
——-
But the Warren moment is infuriating many in Harris’s circle: To them, it’s the latest in a long string of snubs to a vice president whom they say has never gotten the respect or support she deserves. Warren’s words sting even more, they say, because they came from a former rival who in 2020 hoped to be picked as Biden’s running mate instead.
Harris diehards aren’t the only ones who say they have had enough. Embedded in many top Democrats’ thinking as Biden appears headed toward a reelection campaign announcement, according to CNN’s conversations with three dozen leading Democrats, is fear that years of Harris negativity could now prove a political problem. Any running mate is a heartbeat away from the presidency, they say, but that’s a different proposition when the heart in question has been beating for more than 80 years.
Multiple Democratic leaders contend that if people don’t start feeling more positive about the next person in the line of succession, they might turn away from the ticket entirely. They’re urging allies to stop the Harris pile-on, if only for Biden’s sake – or for Democrats’ sake, or the party’s future.
You don’t always go to the White House with the dummy you want, you just go with the dummy you’ve got.
I suggest that they settle their beef with an underwater knife fight.
Sounds like a domestic terrorist engaging in non-protected speech and disinformation. She needs to be locked up.
https://twitter.com/EvaVlaar/status/1634644294182092801
NB: HOT
Those cupcakes are adorbs.
Totes.
“Disinformation studies” is an emerging multidisciplinary speciality that brings together psychologists, computer scientists, sociologists, engineers, philosophers, mathematicians, behavioral scientists, military scholars, historians, political scientists, linguists, and more.
https://twitter.com/RVAwonk/status/1634046553412304897
We’re not very far at all from “psychopathological mechanisms of dissent.”
Begging the question is exactly what these asshats do, all the time. They start from their approved conclusions, then try to determine how people who disagree got their ideas and shut those mechanisms down.
They’re not engaging the arguments, they’re destroying the forums.
For example, I bet I know exactly how COB perceived the lab-leak theory in the first year.
“Oh, a bullshit artist”
From poster child to worst performing EU economy: how bad housing policy broke Sweden
Brett Christophers
Brett Christophers
High mortgage debt and a broken rental system is taking its toll on a country once seen as the example for others to follow
https://www.theguardian.com/commentisfree/2023/mar/07/sweden-worst-performing-eu-economy-bad-housing-policy
“On the one hand, Sweden has continued to substantially subsidise home ownership, pouring unnecessary fuel on the fire of the housing bubble. Most notable here is tax relief on mortgage interest. Decades after such relief was jettisoned elsewhere – even the famously homeowner-friendly UK got rid of it in 2000, Gordon Brown rightly describing it as a middle-class perk – it remains in place, absurdly, in Sweden.
On the other hand, Sweden has a fundamentally broken rental system, which for a variety of reasons comprehensively fails to make affordable accommodation widely and readily available in the largest cities, especially for those with greatest need and least resources.”
but Sweden has amazing rent control I am sure that cannot be one of the reasons
Most notable here is tax relief on mortgage interest.
USA says hello.
So… exactly like every other country.
How can I best post my articles I write for my newspaper? Art included.
Prefer not to doxx myself.
I have shit for y’all to read. Let me know and we’ll figure something out.