1,680 karma · joined August 11, 2011
Truman had so many financial struggles that the pension for presidents was created for him to live a dignified life after leaving office.
http://academic.brooklyn.cuny.edu/history/johnson/fdrpoland.... https://en.wikipedia.org/wiki/1944_Democratic_Party_vice_pre...
http://beam-inc.org/abraham-lincoln-and-tsar-alexander-ii-pa...
https://www.reuters.com/article/us-usa-congress-insidertradi...
https://money.usnews.com/money/blogs/the-inside-job/2008/09/...
If it’s this week it will go something like this:
1. People realize that they aren’t getting their tax returns because of the shutdown and it has an outsized effect because consumer savings rates are low. Market wobbles.
2. Treasury issues short term debt at high yields and long term debt at low yield yields Thursday, market crumbles Friday.
3. Fed meets next week to discuss the debt window and if they need to slow down QT or go back to QE. They don’t know. Market goes volatile.
4. Government shutdown ends at first sending stocks up. Then key economic data releases showing consumer spending is going to be weak because real wages were down.
Anyways, it’s more likely we’d have to see a couple of blue chips go bankrupt first like a big state utility company or a classic old American tech company.
In the 1600s, Lisbon was leveled by an earthquake. Some thought that God was punishing them others saw it as an opportunity to rebuild and grow stronger. Today, Lisbon is one of the most beautiful cities in the world.
I pray for people to end the fear and believe in a bigger future. Happy new year.
Think about coffee. It’s a commodity. But more people are spending $4-5 on a single cup instead of $4-$5 on a pound of grounds. Spending power does not match price change.
A good historical case study is Standard Oil. In an effort to stabilize prices and reduce peaks, Standard oil established last mile delivery for refined oil. People bought Standard Oil at the grocery store. Standard didn’t start buying oil wells until 20 years into the company after they had pressured prices down to the bottom.
Apparently they run into some sticky situations carrying dried yellowish brown powder around in aluminum foil. In Saudi Arabia they were detained at the airport for hours while authorities verified that the sketchy powder was in fact mostly harmless yeast.