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While we’re all sitting around waiting for Powell, I wanted to touch on a topic I think about frequently, which is the culture of greed and gluttony at the best-funded AI firms. What brings this to mind this morning is none other than Mr. Mark Zuckerberg.
What has happened with the /RTY over the past fifty hours has been extraordinary. On Wednesday, based on the obviously fake government data showing inflation is gone (check your grocery store to verify this), equities absolutely exploded higher, with small caps leading the way. I figured it was game over, man.
When this week began, I mentioned there were going to be three big “events” over the next nine days. First, the announcement from the US/China trade talks; second, the CPI report (coming out tomorrow morning before the open), and third, the FOMC Kabuki Theatre next Wednesday. Of these three, it was the first one that had me by far the most worried. Thus, when I saw the equity futures start gyrating wildly, I rushed back to my computer to see what the news was. And…………..
I just finished a very brief visit of Washington, D.C. and thought I’d share a few thoughts I had while I was there. To begin, I rented a car during my thirty-hour visit, and I did a fair amount of driving. I’ve driven hundreds of thousands of miles in my life, but my hand to God, I don’t think I’ve ever seen as many turns, tunnels, and opportunities to go the wrong way as I have in the District of Columbia. Good Lord!
I cannot imagine the kinds of auto accidents that must take pace with nervous drivers there. I’m glad to be done with it, with nary a scratch to show for it all.
The movie Poltergeist came out 43 years ago, but perhaps you’ve seen it.
After the family has already been through hell, and things seemed to finally be getting back to normal, the haunting begins, and worse than ever. The young child, Carol Ann, who had been saved from the demons, could only stare in disbelief at the forthcoming terror and meekly murmur, “No more………….”
Carol Ann, I know precisely how you feel.
