If the government is paying for it, it is free jobs for states that take the offer up, and free infrastructure. They would be stupid not to.


Biden going hard after gas stations, and gas distributors for not lowering prices to match what they should be with the current cost of oil. Looks like the White House plans to stay on this until the election since without then directly calling it out, oil prices are dropping but gas is not. And sure they can tell Biden to go fuck himself, but Biden can reply with a threat to veto any budget that contain welfare for gas producers so they got far more to lose than he does. Dems already want welfare for fossil fuel companies making record profits ended and will gladly support such a cut.

Insurance companies increasing skyrocketing their rates already.  Some people are seeing their quotes for 2k to 21k a year.  If they go under, then the Florida and US governments are forced to pick it up.  

Also speaking of inflation, middle management found a new role in the work from home era that should have made them obsolete. Corporations are now hiring a layer of management to perform digital surveillance on work at home employees that can measure what they are doing in real time, even recording them working with their cameras, tracking their eyes and providing real time mirroring of their work station. In office workers get the benefits of this too now as middle management to promote their usefulness paints most workers as stealing company time with quiet quitting and claiming themselves as the ones best suited now to stop it.

Taken to the extreme, more company are considering implementing Amazon time to task AI to make sure workers are completing their tasks in a wasteless manner.

For some reason companies implementing these features are seeing high worker turnover though and increasing overall labor costs, not the promised reductions.

Sept 28, 2022 5:10:15 GMT c said:

If the government is paying for it, it is free jobs for states that take the offer up, and free infrastructure. They would be stupid not to.


Biden going hard after gas stations, and gas distributors for not lowering prices to match what they should be with the current cost of oil. Looks like the White House plans to stay on this until the election since without then directly calling it out, oil prices are dropping but gas is not. And sure they can tell Biden to go fuck himself, but Biden can reply with a threat to veto any budget that contain welfare for gas producers so they got far more to lose than he does. Dems already want welfare for fossil fuel companies making record profits ended and will gladly support such a cut.

Yes, I am sure...

I just doubt that anyone has done the math.
A 350kw charger needs 500amps

Three of these per charger

This probably belongs in the climate change thread.
There is a reason that gas stations weren't connected to the refineries by pipe, the cost is extraordinary.
One of the benefits of gasoline is that it can be delivered in a very calorie dense form.
You can fill a car with 70l of gasoline and rive 800km

Only the early gen of car batteries will not be portable. Sooner or later we will crack a high density, light weight battery that can be swapped in and out. Battery efficiency is a major research area doubling every 10 years. The lithium free batteries are 50% better than the lithium one now. Only holdback to adoption is plants are geared to make lithium batteries so the silicon ones that came out this year are more costly.

So the Bank of England has capitulated and agreed to start purchasing bonds to keep the economy afloat.
This has spooked global markets and the USA shot up assuming the Fed will do the same.
The reason the BoE is purchasing bonds is to reduce the demand and drive down the yield. If the government bond rate gets too high, nobody will put money into the market and it grinds to a halt.

Sept 28, 2022 17:04:07 GMT c said:

Only the early gen of car batteries will not be portable. Sooner or later we will crack a high density, light weight battery that can be swapped in and out. Battery efficiency is a major research area doubling every 10 years. The lithium free batteries are 50% better than the lithium one now. Only holdback to adoption is plants are geared to make lithium batteries so the silicon ones that came out this year are more costly.

I'm not quite sold on 'this plan will totally work, all we have to do is wait for someone to invent a solution.'

I am in (not all-in, but in) on battery-powered cars being a significant part of the future in general, but there are some things I think can't be changed. It will always take hours to recharge a battery - even now with cell phones, you're seeing adaptive overnight charging options, because the slower you can charge the battery the less heat/wear you put on it, extending its life. So even if you could cram power into a car battery you generally shouldn't for longevity.

The general workaround I've heard for this is to, effectively, have gas stations be able to quick swap batteries and I dunno about anyone else but I absolutely do not want that. I maintain my stuff, now you want me to trade my proven-good battery for one with an unknown history? How many cycles has it gone through? Is it still reliable?

To be fair, this largely only comes into play on road trips. For daily usage, where one can drive it and charge at home/at work/maybe both it seems a fairy ideal solution. But road trips, or maybe delivery drivers or taxi drivers basically running the engine all day I can't see them switching over anytime soon.

Sept 29, 2022 2:04:54 GMT Michinokudriver said:

Sept 28, 2022 17:04:07 GMT c said:

Only the early gen of car batteries will not be portable. Sooner or later we will crack a high density, light weight battery that can be swapped in and out. Battery efficiency is a major research area doubling every 10 years. The lithium free batteries are 50% better than the lithium one now. Only holdback to adoption is plants are geared to make lithium batteries so the silicon ones that came out this year are more costly.

I'm not quite sold on 'this plan will totally work, all we have to do is wait for someone to invent a solution.'

I am in (not all-in, but in) on battery-powered cars being a significant part of the future in general, but there are some things I think can't be changed. It will always take hours to recharge a battery - even now with cell phones, you're seeing adaptive overnight charging options, because the slower you can charge the battery the less heat/wear you put on it, extending its life. So even if you could cram power into a car battery you generally shouldn't for longevity.

The general workaround I've heard for this is to, effectively, have gas stations be able to quick swap batteries and I dunno about anyone else but I absolutely do not want that. I maintain my stuff, now you want me to trade my proven-good battery for one with an unknown history? How many cycles has it gone through? Is it still reliable?

To be fair, this largely only comes into play on road trips. For daily usage, where one can drive it and charge at home/at work/maybe both it seems a fairy ideal solution. But road trips, or maybe delivery drivers or taxi drivers basically running the engine all day I can't see them switching over anytime soon.

It is ironic, in Australia we have country pubs that are spread out pretty much exactly the distance that a horse can travel without water, seems like this is where we will end up going  back to.

The point I am trying to make to c is that if we need rapid charging stations every 50-100 miles, we don't actually have cars anymore, we have trains with batteries.
If you need to run 1MW of power along a highway, might as well suspend a wire and let the cars charge while driving.

Kind of funny we are going to give people billions in checks again, but since it is to a red state, despite expecting to create a boom in the Florida economy as people use federal funds to replace all their possessions, it is not expected have any inflationary impact.

Payment expected to be around 100 billion, or about 25% of the checks that Biden sent that started the inflation cycle according to right ring media.

I don't understand why any insurer issues any policies covering anything in Florida. Seems like a really bad business model... What am I missing?

Act of God clause plus tax payer cucks.

Oct 1, 2022 12:19:51 GMT 🤯 said:

I don't understand why any insurer issues any policies covering anything in Florida. Seems like a really bad business model... What am I missing?

Right now most do not.  After Sandy most went bankrupt.  Down to like 7 major private insurers.  Got so bad that the wealthy pushed on Florida GOP to socialize insurance and just tax people to pay for it.  So much like most things in the US, socialism is good for wealthy, but bad for the normal person.  

But even that is not really sustainable and they warned yesterday that insurance rates will likely increase 45% per property, which means the poor will just not be able to get home insurance in Florida that covers hurricanes while still paying taxes to help cover the rich's hurricane insurance.  Which means they are essentially pushing this to federal taxes to cover for normal people, which the GOP traditionally opposes at the congressional level.  

But as the GOP says, now is not the time to get political, now is just the time to send them hundreds of billions aid of that sweet inflation free money.

Some are already predicted that the hurricane market will collapse though paying out for this as it was already on its last legs and the state program will also crumble since it is unlikely the GOP will raise taxes to pay for it.  Gonna make things interesting.  Moreso as these sort of hurricanes are expected to become increasingly more common.   

Well now I just wish we'd nuked Ian.

DeSantis could have used a sharpie to alter the course like Trump did.

Oct 1, 2022 13:15:05 GMT c said:

Oct 1, 2022 12:19:51 GMT 🤯 said:

I don't understand why any insurer issues any policies covering anything in Florida. Seems like a really bad business model... What am I missing?

Right now most do not.  After Sandy most went bankrupt.  Down to like 7 major private insurers.  Got so bad that the wealthy pushed on Florida GOP to socialize insurance and just tax people to pay for it.  So much like most things in the US, socialism is good for wealthy, but bad for the normal person.  

But even that is not really sustainable and they warned yesterday that insurance rates will likely increase 45% per property, which means the poor will just not be able to get home insurance in Florida that covers hurricanes while still paying taxes to help cover the rich's hurricane insurance.  Which means they are essentially pushing this to federal taxes to cover for normal people, which the GOP traditionally opposes at the congressional level.  

But as the GOP says, now is not the time to get political, now is just the time to send them hundreds of billions aid of that sweet inflation free money.

Some are already predicted that the hurricane market will collapse though paying out for this as it was already on its last legs and the state program will also crumble since it is unlikely the GOP will raise taxes to pay for it.  Gonna make things interesting.  Moreso as these sort of hurricanes are expected to become increasingly more common.   

The largest insurer in Florida is now the government insurer of last resort.

Mind you I'm not sure rebuilding a house made of sticks in the regular path of hurricanes is a sound idea.

In Australia the government bought back land some houses because they were built on flood plains.
After the bushfires you can't rebuild a home without doing a tonne of expensive bush fire safety modifications.

And that program will likely collapse. Two months back they sent everyone with the insurances pay or be dropped bills, with others saying they had their policies cancelled without warning. And that was before this hit. The remaining private insurers are likely done, and the state program insolvable. Gonna have to start to tax people to cover this for the wealthy and businesses.

Looks like Credit Suisse are going to go the way of Lehman Brothers, the price of their CDS are through the roof.

Emergency Fed meeting on Monday, wonder if they're going to follow BoE in buying bonds to lower the yield and get money flowing. The corporate bond market is dead and the mortgage market isn't far behind
As I have said on this board before, Interest rates are such a crude method of adjusting the temperature of the market

The PCE number on Friday showed no sign of cooling. It really looks like the choice is one between short term financial collapse.... Or hyper inflation, then economic collapse.

Just read that a large and successful supplier in my industry applied for bankruptcy protection. Otherwise profitable company crunched by Covid delays and rising material costs
I expect they didn't take this action lightly, as credit dries up more and more companies are going to become insolvent because they can't access the credit to trade through a tight period.


This is scary..

Oct 1, 2022 15:36:12 GMT iNCY said:

Just read that a large and successful supplier in my industry applied for bankruptcy protection. Otherwise profitable company crunched by Covid delays and rising material costs
I expect they didn't take this action lightly, as credit dries up more and more companies are going to become insolvent because they can't access the credit to trade through a tight period.


This is scary..

Business opportunities to pick up liquidated assets for pennies on the dollar?

Totally not like there are other reasons Credit Suisse stock is plummeting now other than inflation. Sure this has nothing to do with being found guilty of aiding in money laundering for drug traffickers, one of their employees leaking a list of all the awful people they do business with from drug lords to sex traffickers, then them demanding firms they worked with shred records that tied them to Russian oligarchs.  I just do not see how investors may not want to invest in a company like this outside of inflationary concerns.  

Companies that go under will see many eager buyers.  Top corporations are buying all they can these days, particularly up the supply chain hoping to control it from start to finish.  Dream is to get the monopoly lock to knock your competition out on several levels at a time.  

Also UK just solved their inflation. They will give massive tax cuts to the rich and corporations, and they will shower the poor in cash they would have otherwise paid in taxes. Companies will slash prices, and charity giving will surely skyrocket!!!

Investigations into the Hurricane damage show that only 1.3% in the poor counties had hurricane insurance, while the more wealthy counties it rises to 29%. And as suspected, the poor were cut out of the insurance market, while the wealthy were cut deals. And paying out the wealthy claims, which they will often sue for if they are not paid, will bankrupt many companies that are left. Florida is where 76% of all insurance related lawsuits take place, from mostly storm damage.

DeSantis does not have a plan for repair outside of making Biden pay for it entirely. So the US taxpayer most likely will have to cover the whole of the repair. But billions of dollars in socialism to Florida will not cause inflation, despite DeSantis of 2013 saying billions of dollars to NY would cause inflation.

Oct 1, 2022 15:57:59 GMT 🤯 said:

Oct 1, 2022 15:36:12 GMT iNCY said:

Just read that a large and successful supplier in my industry applied for bankruptcy protection. Otherwise profitable company crunched by Covid delays and rising material costs
I expect they didn't take this action lightly, as credit dries up more and more companies are going to become insolvent because they can't access the credit to trade through a tight period.


This is scary..

Business opportunities to pick up liquidated assets for pennies on the dollar?

For someone? Yes, but I don't have the sort of money to buy a 200 person company and even if I did, I wouldn't be able to get the finance to fund it in this market.

Without boring you, machinery is a long lead time and the customer is only paying about a 20% deposit, the manufacturer is funding the rest.

Oct 1, 2022 21:28:41 GMT c said:

Also UK just solved their inflation. They will give massive tax cuts to the rich and corporations, and they will shower the poor in cash they would have otherwise paid in taxes. Companies will slash prices, and charity giving will surely skyrocket!!!

Truss is already finished, her mini budget has already destroyed the value of the pound and caused the BoE to intervene as inflation fears had caused monetary supply to practically stop.

The world is a better place without them. From what I seen in the leaks they are handling finances for warlords, scam centers and money laundering shit. They been sued several times in the US for aiding their clients in committing fraud. Hell from a US standpoint we save money by no longer having them help defraud Americans forcing us to spend tax dollars to sue them to get them to stop that current scam.

Hope those bankers enjoyed working their 14 hours for their work culture encouraging bosses who will take their golden parachutes away while they are jobless and perhap unemployable in the finance field.

Kind of funny how they no longer are considered one of the great pillars the entire world economy stands on as many claimed while praising for profit megabanks.

Oct 2, 2022 0:30:44 GMT c said:

The world is a better place without them. From what I seen in the leaks they are handling finances for warlords, scam centers and money laundering shit. They been sued several times in the US for aiding their clients in committing fraud. Hell from a US standpoint we save money by no longer having them help defraud Americans forcing us to spend tax dollars to sue them to get them to stop that current scam.

Hope those bankers enjoyed working their 14 hours for their work culture encouraging bosses who will take their golden parachutes away while they are jobless and perhap unemployable in the finance field.

Kind of funny how they no longer are considered one of the great pillars the entire world economy stands on as many claimed while praising for profit megabanks.

That's a rather simplistic view, always remember that however big of an asshole a bank is, they're not doing it with their own money.

There is a very real fear that in a competitive landscape, pension funds desperate for returns that would satisfy their members, have leveraged way too hard. With rising interest rates and asset prices down 15-25% there is a very real chance that many will get margin called, and not at some point in the future but in the next month.

Japan and China are propping up their currencies by buying them at the expense of the USD.
Fascinated to see how the Fed responds.

So we sleep walk into a fiscal armageddon and the boomers joke that they'll be dead before it really bites.

There is no career that rewards unwarranted optimism and lying like politics. First you convince everyone that they can have everything then you kick the economic burden of shitty decisions 5 years down the road. Now Biden is going to try and kick it and break his foot because it's too heavy.

The rich boomers know this will not really affect them, because in the US at least they will get bailed out.

Biden should cut taxes and increase spending. Worked well for the three out four GOP presidents. Bush Sr fucked up and raised taxes so did not work for him, but Reagan, Bush Jr and Trump were all hailed for their financial powers of cutting money while increasing money out. Dems should try this. Just cut taxes on the poor and spend more on them. I mean if it works for the rich and brings forth great economic times, surely it will also work for the poor.

Also all fiscal experts in the US say if the US does one more extreme hike like they have been, the US economy will utterly collapse with widespread unemployment.  At most we should raise interest rates .01 to protect the fragile economy on the verge of total collapse under the crippling high interest rates of 3%.  3% interest rates are suffocating the economy and killing investing fiscal experts keep claiming, and it should be returned to 0 asap.  

3% interest is far, far more harmful than 10% inflation these experts all seem to agree.  I mean interest rates effects them, inflation effects the regular person.