The Fed has a huge bias in favor of errors that benefit powerful, moneyed groups... leading us to guess that its next error will be, once again, to under-price credit for privileged borrowers.
Sorry you weren't in the ADBlue scam from the beginning. It is unimaginably worse than you can imagine. The diesel additive is nothing more than liquid anhydrous ammonia. It comes in convenient one gallon or five gallon plastic bottles wrapped in cardboard. No carbon to look at here. Or you can get it from special pumps at the truck stops. No carbon to look at here. But wait! There's more! This highly corrosive liquid freezes below 14 degrees Fahrenheit. We call that a normal winter day in Wisconsin. The special pumps need heated cubicles to keep from freezing. If you leave your truck outside overnight the special tank freezes solid. You must keep your diesel vehicle in a heated garage. No carbon to see here. If you don't the monitor shuts down your vehicle and you will be towed to a garage that can heat the whole truck up for days until the tank thaws. No carbon to see here.
Live in the south? Go onto YouTube to see how to replace corroded tank mechanisms early in their life. No carbon to see here folks!
I could go on with personal stories of wasted time and energy but you get the idea that the bureaucrats can never get. They have the Midas Touch when administrating the Green Raw Deal.
I have a question - is the debt problem really pushed on to the future? I would say with a qualification "yes" until it is not. It is "not" when the system blows up. When the system blows up there is a "Debt Jubilee" and it all starts over again. Think about it - not going to be pretty but when the dollar blows those "owed" will be left with an empty bag. It is coming one day.
When will you youngster's ever learn. The only real money is GOLD and silver to a smaller degree. Oh, I almost forgot. The new money is CRYPTO, like Bitcoin. Yeah, and if you believe that, you'll believe anything. You can't hold it in your hand and when the power grid goes down (oh, that's right, the power grid never goes down for any length of time, due to Hurricanes or Tornadoes) , Bitcoin will be our savior. Maybe! This old man would rather have some form of gold or silver, to cover my tempory and maybe even my long term needs. Why? Have any of you youngsters heard about the coming BRIC multi nation currency introduction in Sep or Oct? If anyone believes that 59 nations with 60% of each nation's curreny being backed by Gold, won't seriously impact the value of the dollar, you're living in never never land. I know, I know. This "old" man may be blowing smoke but gold purchased now, may save a lot of heartache or tears later. Heck, even purchasing some lower cost (but well managed) gold stocks, might save your rear end in the not so distant future. Good luck, "youngsters".
You're as young as you feel. Crypto is a fabulous idea and it could be backed by gold the same as any other means of exchange. There is currently a few gold backed crypto coins available.
I cant disagree with that statement at the local level however, if we have credit; visa, mastercard, American Express... its hard to imagine there being value directly associated to another form of mouse click money. Which would I choose in a bind to get out of dodge?, government fiat? or some other market currency. The only question is, which, is more trustworthy. I ll take gold and silver thank you very much ! But if we are talking about a floating abstraction, well you decide !
I hate fucking statists. Worse than that the average have no idea what they are up against. I remember Peter Schiff stated that btc was too volatile and compared it to beenie babies. Okay I can appreciate that, but stocks are volatile should we state that stocks are beenie babies? Perhaps they are especially if your a beneficial holder. Look, up here in Canadar the state is looking at increasing property taxes based on, unseated property. So what does that mean ?. Well the fucking monkeys' state that land was stolen from the natives, we wont discuss the property taxes, lets leave that aside, apparently there's a push to reconcile the land that was expropriated by "YOU and I" so there is a potential to recompense those who were unfortunate in having their lands taken. I dont know about you but I will say this, if you follow the eventual outcome the results will be written long after you and I are gone.
When the fed cuts rates and people understand it as an opportunity to borrow to the moon how the hell can you blame the fed? Maybe stupid borrowers should share in 80% of the blame. You cannot protect people from themselves.
They can lower the interest rate … but who is going to buy the bonds this time? Not the Chinese…. only Mr Inflation but he has his hands full already!!
Except as Bill said we had low and ultra low rates, but had the rates been higher who would have borrowed say, at 7% or 8%. $100K borrowed at that rate is one thing but when your talking multiples and millions its all together different including the time associated extinguishing that debt. Ah, but here comes the Fed and all the other commie CBs to make life simpler. : )
My Sprinter van can run about 4,000 miles on a gallon of BlueDEF, possibly the same corporate parent as your ADBlue maker. It is Diesel Exhaust Fluid which is made of water and Urea, so if you had peed in a gallon of water you might possibly have been on your way. The ammonia from your pee(Urea) would have been vaporized and traveled to your catalytic converter to “neutralize” nitrous oxide molecules. You can thank the California Air Resources Board(CARB), which runs the EPA, which runs the air world. All diesel engines manufactured after 2010 require DEF. My Sprinter will still start if I run out of DEF, but it is then governed to only allow the engine to push me at 20mph, fast enough, according to the EPA, to get me to the nearest gas station or Walmart to get another gallon of DEF.
Do you have a source for that? I've read that he wants presidents to have a say in the Fed's decision making process. If you remember when he was in office he badgered Powell to cut interest rates prematurely. Trump's an easy money, big debt guy. He wouldn't want to see the market set interest rates
ADblue is a governments additive required to assist the public in choosing an EV over diesel vehicle by driving up the cost of what used to the least costly fuel in the market. While the Diesel engine is the least polluting engine inclusive of EV. The danger to the government thinking,, the motor can burn just about anything and most times very well.
As for credit markets, they exist to manipulate the general public. I can still remember as a youth my mother cleaning out her fathers house, he was moving in to ours. Among his papers they found a lengthy mail exchange between his local bank concerning a mortgage they were offering to assist in purchasing a family home. The price of the home in the Germantown section of Philadelphia was fetching a cool $3000 in gold. The banker proposed a $1500 5 year term, at 16% interest secured by his wholesale food distribution company. The bank explained the loan would free up capital allow the purchase of a nicer home, along the Lincoln Drive with people of similar status.
He declined their offer, paying all cash, explaining he was quite happy to live around the corner. He offered; nothing in life is guarantee and it's best pay one's bills in full, allowing every day to be its separate worry. That letter was written in 1925, the rich folks around the corner lost their homes in the Great Depression. Oh, how times have changed, but really not, people never learn from history.
AdBlue sounds like the Europeanized version of Diesel Exhaust Fluid, which has shortened the life expectancy of diesel engines worldwide, after the same government twits demanded the lowering of sulfur content in diesel fuel.
In the years of pre-DEF, diesel engines would run on almost any type of fuel, and they could last a million miles easily. But then those government apparatchiks got involved, and decided there was no system that they couldn't ruin. The sulfur that used to be in diesel fuel would also act as an internal lubricant. But when they prescribed the use of DEF, they also reduced the allowable sulfur in the fuel. Just like Mark R says.
On that prescient note, CRE (commercial real estate) some level(s) of debt in the United States will mature over the next 2 years. According to the Mortgage Bankers Association, that near-term CRE debt is around $1.2 trillion. According to Trepp (a real estate data provider), $2.56 trillion in commercial real estate loans will mature over the next 5 years, with $1.4 trillion held by banks.
Could the commercial real estate market be the next thing to pop in this bubble economy?
According to a recent working paper published by the National Bureau of Economic Research, the answer is… YES!. Could it kick off a financial crisis? Based on **NBER’s research**, approximately 300 regional banks are at risk of collapse due to problems in the commercial real estate (CRE) sector.
Sorry you weren't in the ADBlue scam from the beginning. It is unimaginably worse than you can imagine. The diesel additive is nothing more than liquid anhydrous ammonia. It comes in convenient one gallon or five gallon plastic bottles wrapped in cardboard. No carbon to look at here. Or you can get it from special pumps at the truck stops. No carbon to look at here. But wait! There's more! This highly corrosive liquid freezes below 14 degrees Fahrenheit. We call that a normal winter day in Wisconsin. The special pumps need heated cubicles to keep from freezing. If you leave your truck outside overnight the special tank freezes solid. You must keep your diesel vehicle in a heated garage. No carbon to see here. If you don't the monitor shuts down your vehicle and you will be towed to a garage that can heat the whole truck up for days until the tank thaws. No carbon to see here.
Live in the south? Go onto YouTube to see how to replace corroded tank mechanisms early in their life. No carbon to see here folks!
I could go on with personal stories of wasted time and energy but you get the idea that the bureaucrats can never get. They have the Midas Touch when administrating the Green Raw Deal.
It was as if they had trained monkeys let loose creating additional problems and sell the idea of a problem solved.
Hey Pete, a buddy found some grounded flying monkeys at Pennsylvania dot gov here - https://tinyurl.com/3ebzptr5
He sent me a link - https://x.com/Not_the_Bee/status/1822664270426919318 - some monkey roundup herders (a.k.a. ✖️watch commenters) shot some tranquilizer darts.
Cheers
M
Spoiler Alert: No flying monkeys were harmed by✖️watch commenters
Nothing new under the sun
Some funny sad shit on that not the bee site ha ha
I have a question - is the debt problem really pushed on to the future? I would say with a qualification "yes" until it is not. It is "not" when the system blows up. When the system blows up there is a "Debt Jubilee" and it all starts over again. Think about it - not going to be pretty but when the dollar blows those "owed" will be left with an empty bag. It is coming one day.
Martin reckons 83% drop will fix it.
https://www.tbwns.com/2024/08/12/the-bears-lair-a-kamala-krash-is-long-overdue/
With the Democratic Party running the media outlets the Kamala crash will go down in history as the Donald Deep Dive.
Is the FED making an error if its members profit from it at our expense?
Perhaps another word other than error is due.
Hose the taxpayers...
When will you youngster's ever learn. The only real money is GOLD and silver to a smaller degree. Oh, I almost forgot. The new money is CRYPTO, like Bitcoin. Yeah, and if you believe that, you'll believe anything. You can't hold it in your hand and when the power grid goes down (oh, that's right, the power grid never goes down for any length of time, due to Hurricanes or Tornadoes) , Bitcoin will be our savior. Maybe! This old man would rather have some form of gold or silver, to cover my tempory and maybe even my long term needs. Why? Have any of you youngsters heard about the coming BRIC multi nation currency introduction in Sep or Oct? If anyone believes that 59 nations with 60% of each nation's curreny being backed by Gold, won't seriously impact the value of the dollar, you're living in never never land. I know, I know. This "old" man may be blowing smoke but gold purchased now, may save a lot of heartache or tears later. Heck, even purchasing some lower cost (but well managed) gold stocks, might save your rear end in the not so distant future. Good luck, "youngsters".
You're as young as you feel. Crypto is a fabulous idea and it could be backed by gold the same as any other means of exchange. There is currently a few gold backed crypto coins available.
I cant disagree with that statement at the local level however, if we have credit; visa, mastercard, American Express... its hard to imagine there being value directly associated to another form of mouse click money. Which would I choose in a bind to get out of dodge?, government fiat? or some other market currency. The only question is, which, is more trustworthy. I ll take gold and silver thank you very much ! But if we are talking about a floating abstraction, well you decide !
I hate fucking statists. Worse than that the average have no idea what they are up against. I remember Peter Schiff stated that btc was too volatile and compared it to beenie babies. Okay I can appreciate that, but stocks are volatile should we state that stocks are beenie babies? Perhaps they are especially if your a beneficial holder. Look, up here in Canadar the state is looking at increasing property taxes based on, unseated property. So what does that mean ?. Well the fucking monkeys' state that land was stolen from the natives, we wont discuss the property taxes, lets leave that aside, apparently there's a push to reconcile the land that was expropriated by "YOU and I" so there is a potential to recompense those who were unfortunate in having their lands taken. I dont know about you but I will say this, if you follow the eventual outcome the results will be written long after you and I are gone.
I sometimes ask myself why a graphic representation of a bitcoin is gold colored. Probably just coincidence.
Get solar, you'll have access to crypto.
Following on from David's comment: are you sure they are 'errors' and not simply the next strategic step in a bigger plan?
When the fed cuts rates and people understand it as an opportunity to borrow to the moon how the hell can you blame the fed? Maybe stupid borrowers should share in 80% of the blame. You cannot protect people from themselves.
They can lower the interest rate … but who is going to buy the bonds this time? Not the Chinese…. only Mr Inflation but he has his hands full already!!
Bankrupt the small businesses, so the big corporation's can take over.
Exactly, that’s why when any of the smaller banks go belly up they make a sweetheart deal for Chase or one of the others.
Too big to fail is getting bigger.
Except as Bill said we had low and ultra low rates, but had the rates been higher who would have borrowed say, at 7% or 8%. $100K borrowed at that rate is one thing but when your talking multiples and millions its all together different including the time associated extinguishing that debt. Ah, but here comes the Fed and all the other commie CBs to make life simpler. : )
My Sprinter van can run about 4,000 miles on a gallon of BlueDEF, possibly the same corporate parent as your ADBlue maker. It is Diesel Exhaust Fluid which is made of water and Urea, so if you had peed in a gallon of water you might possibly have been on your way. The ammonia from your pee(Urea) would have been vaporized and traveled to your catalytic converter to “neutralize” nitrous oxide molecules. You can thank the California Air Resources Board(CARB), which runs the EPA, which runs the air world. All diesel engines manufactured after 2010 require DEF. My Sprinter will still start if I run out of DEF, but it is then governed to only allow the engine to push me at 20mph, fast enough, according to the EPA, to get me to the nearest gas station or Walmart to get another gallon of DEF.
Another thing they’ll have to pry from my cold, dead hands….my 2001 7.3 power stroke diesel truck.
I have a 2001 diesel truck too.
Put over 80K miles on it using vege oil, but the conversion is now removed.
Detune the engine, no Def required...necessity is the motherhood of invention
Have you done that? My concern would be that modern engines are microprocessor controlled
Yea, Trump is talking about 86ing the Federal Reserve, wanna bet they take another shot at him?
Do you have a source for that? I've read that he wants presidents to have a say in the Fed's decision making process. If you remember when he was in office he badgered Powell to cut interest rates prematurely. Trump's an easy money, big debt guy. He wouldn't want to see the market set interest rates
Yes Bill, exactly why our Founding Fathers fought against a Central Bank 🤔
Great article as always. They need to teach this in school.
ADblue is a governments additive required to assist the public in choosing an EV over diesel vehicle by driving up the cost of what used to the least costly fuel in the market. While the Diesel engine is the least polluting engine inclusive of EV. The danger to the government thinking,, the motor can burn just about anything and most times very well.
As for credit markets, they exist to manipulate the general public. I can still remember as a youth my mother cleaning out her fathers house, he was moving in to ours. Among his papers they found a lengthy mail exchange between his local bank concerning a mortgage they were offering to assist in purchasing a family home. The price of the home in the Germantown section of Philadelphia was fetching a cool $3000 in gold. The banker proposed a $1500 5 year term, at 16% interest secured by his wholesale food distribution company. The bank explained the loan would free up capital allow the purchase of a nicer home, along the Lincoln Drive with people of similar status.
He declined their offer, paying all cash, explaining he was quite happy to live around the corner. He offered; nothing in life is guarantee and it's best pay one's bills in full, allowing every day to be its separate worry. That letter was written in 1925, the rich folks around the corner lost their homes in the Great Depression. Oh, how times have changed, but really not, people never learn from history.
The Fed doesn't make mistakes. Just ratchets up the problems of the many to advantage the few. Been working well since 1913. Tell me different.
"The Fed has a huge bias in favor of errors that benefit powerful, moneyed groups..." Who'd a thunk it?
AdBlue sounds like the Europeanized version of Diesel Exhaust Fluid, which has shortened the life expectancy of diesel engines worldwide, after the same government twits demanded the lowering of sulfur content in diesel fuel.
In the years of pre-DEF, diesel engines would run on almost any type of fuel, and they could last a million miles easily. But then those government apparatchiks got involved, and decided there was no system that they couldn't ruin. The sulfur that used to be in diesel fuel would also act as an internal lubricant. But when they prescribed the use of DEF, they also reduced the allowable sulfur in the fuel. Just like Mark R says.
Well done Mr Bonner with today’s subheader: (excerpt) ©️ The Fed has a huge bias in favor of errors that benefit powerful, moneyed groups... leading us to guess that its next error will be, once again, to under-price credit for privileged borrowers.
On that prescient note, CRE (commercial real estate) some level(s) of debt in the United States will mature over the next 2 years. According to the Mortgage Bankers Association, that near-term CRE debt is around $1.2 trillion. According to Trepp (a real estate data provider), $2.56 trillion in commercial real estate loans will mature over the next 5 years, with $1.4 trillion held by banks.
Could the commercial real estate market be the next thing to pop in this bubble economy?
According to a recent working paper published by the National Bureau of Economic Research, the answer is… YES!. Could it kick off a financial crisis? Based on **NBER’s research**, approximately 300 regional banks are at risk of collapse due to problems in the commercial real estate (CRE) sector.
** NBER’s research - https://www.nber.org/papers/w31970
As luck will have it,
Mark
Edit P.S. - https://hbr.org/2024/07/u-s-commercial-real-estate-is-headed-toward-a-crisis
Keep considering the tax rates in a "progressive" system as your income goes from $10,000 to $280,000.
As well as the moneyed class this also enhances the power and influence of the administrative state.
As you have stated frequently, this is a "win-win" situation, but not for the working middle class.