That’s Biden’s “wish list” which he sends to Congress. It’s like the list you send to Santa Claus each year…you may get some of it, but you certainly won’t get all of it. Congress makes the budget.
Why am I not surprised that you don’t know how this process works?
Agip, I had good luck riding small caps out after the bursting of the internet bubble in 2000, for about 9 years., with the premise being that small caps lead out of the big downturns.
But beyond that, it's just about this simple - with the advent of internet stocks, the thought was to grab up baskets of them, since it was the hot sector and the future, and all boats would rise. But this proved faulty. The small ones disappeared, for the most part. The big leaders emerged and leveraged their size advantage to be almost untouchable. This has only grown more unassailable with time.
So, lately their has been an impatience within the Mag 7. But like today, with the usual laggards (Apple, MSFT, Goog) tick upward while the highflyers (Nvidia) swoon. So, it may appear that chasing the highflyer is less effective than just trusting in the group and buying a dip, if and when any of the group avail to do so.
As for small caps, I tend to favor the idea to not bite until it demonstrates some prolonged commitment. Otherwise, it just doesn't seem like economic and market trends are particularly favorable for business so structured.
Harvard University economics professor Kenneth Rogoff said both President Joe Biden and his predecessor and challenger Donald Trump risk sending US debt levels into dangerous territory as Washington fails to grasp that the era of ultra-low interest rates won’t come back.
Igy, did you get to the part where Republicans are doing all they can to repeal the building of the electric vehicle charging stations?
Biden Vetoes Republican Measure to Block Electric Vehicle Charging Stations - NY Times wrote:
Jan. 24, 2024 President Biden on Wednesday vetoed a Republican-led effort that could have thwarted the administration’s plans to invest $7.5 billion to build electric vehicle charging stations across the country.
Igy, did you get to the part where Republicans are doing all they can to repeal the building of the electric vehicle charging stations?
Biden Vetoes Republican Measure to Block Electric Vehicle Charging Stations - NY Times wrote:
Jan. 24, 2024 President Biden on Wednesday vetoed a Republican-led effort that could have thwarted the administration’s plans to invest $7.5 billion to build electric vehicle charging stations across the country.
This poster felt the ECB was unwisely raising rates on the cusp of a financial collapse. European stocks +17% in dollar terms since this tweet. Bad call.
Nathan Tankus @NathanTankus The ECB's .5% rate hike today is going to go down in history as very similar to their absolutely embarrassing June 2008 rate hike. 11:13 AM · Mar 16, 2023 · 126.8K Views
Similarly, 6 months ago this poster saw an imminent economic downturn in the US and was confused why bond spreads did not show that. So he thought junk bonds would, soon.
Not yet! Bond spreads have become even tighter. Much tighter. At time of that tweet they were around 1.8%...now they are a miniscule 1.5%. Which suggests low and falling stress in the high yield zone.
Total return for junk bonds since the tweet a quite strong 6.5%.
David Dierking @David_Dierking Of all the things that baffle me about this market, this might be the biggest one. How in the world are high yield spreads going DOWN right now? Consumers are running out of money to spend. Consumer credit is through the roof. Defaults are rising. Bankruptcies are rising. We've got a de facto recession in Europe. China is imploding. Student loan payments just restarted. Yet investors are demanding LESS return for low quality bonds? I don't get this at all. This looks like a setup for the end result gets really ugly.
It would seem that for the devotees, price doesn't matter except to wave in front of the non-believers.
And whatever you think it's doing today, it will probably be doing exactly the opposite tomorrow since that seems to be the trend,
BTC has no intrinsic value - it's only a 'some greater fool will pay more later' place to put your money. So yeah price doesn't matter.
the thing is, in this crooked world there is apparently a large need for someplace to hide money and supply a get-rich-quick hope.
I've been wrong on BTC but hard for me to believe that something that provides no cash flow will have a good long term investment record. The only long term hope for it is probably that people really need a place to hide money or get it out of their risky currency. I'm sure chinese and russian people have been exchanging their bad currencies for Bitcoin. No sure that makes an investment case though.
It would seem that for the devotees, price doesn't matter except to wave in front of the non-believers.
And whatever you think it's doing today, it will probably be doing exactly the opposite tomorrow since that seems to be the trend,
BTC has no intrinsic value - it's only a 'some greater fool will pay more later' place to put your money. So yeah price doesn't matter.
the thing is, in this crooked world there is apparently a large need for someplace to hide money and supply a get-rich-quick hope.
I've been wrong on BTC but hard for me to believe that something that provides no cash flow will have a good long term investment record. The only long term hope for it is probably that people really need a place to hide money or get it out of their risky currency. I'm sure chinese and russian people have been exchanging their bad currencies for Bitcoin. No sure that makes an investment case though.
It's beyond reason and description, and fwiw, you have done a good summation of a reasonable interpretation.
I've gone from feeling really sorry for suckers I know who were dumping hard earned money into it to having to admit that they are making some money.
Mostly, I know that 1) I don't have the temperament to go there, and 2) the environmental impacts of mining it are antithetical to my values.
Agip, I had good luck riding small caps out after the bursting of the internet bubble in 2000, for about 9 years., with the premise being that small caps lead out of the big downturns.
But beyond that, it's just about this simple - with the advent of internet stocks, the thought was to grab up baskets of them, since it was the hot sector and the future, and all boats would rise. But this proved faulty. The small ones disappeared, for the most part. The big leaders emerged and leveraged their size advantage to be almost untouchable. This has only grown more unassailable with time.
So, lately their has been an impatience within the Mag 7. But like today, with the usual laggards (Apple, MSFT, Goog) tick upward while the highflyers (Nvidia) swoon. So, it may appear that chasing the highflyer is less effective than just trusting in the group and buying a dip, if and when any of the group avail to do so.
As for small caps, I tend to favor the idea to not bite until it demonstrates some prolonged commitment. Otherwise, it just doesn't seem like economic and market trends are particularly favorable for business so structured.
yeah I hear you. But small caps are supposed to be a core holding - not something that will underperform for decades.
The good news is that in pockets of the small cap world, stocks are flying. Which is always true I suppose, but there are some crazy good performers in small cap land.
Take a look at
HFCGX
HFMDX
CALF
COWZ
Extraordinary performers. I'm hoping that funds like those will get the animal spirits flowing, and that they serve as proof of concept that people can make money in small caps.
This post was edited 2 minutes after it was posted.
BTC has no intrinsic value - it's only a 'some greater fool will pay more later' place to put your money. So yeah price doesn't matter.
the thing is, in this crooked world there is apparently a large need for someplace to hide money and supply a get-rich-quick hope.
I've been wrong on BTC but hard for me to believe that something that provides no cash flow will have a good long term investment record. The only long term hope for it is probably that people really need a place to hide money or get it out of their risky currency. I'm sure chinese and russian people have been exchanging their bad currencies for Bitcoin. No sure that makes an investment case though.
It's beyond reason and description, and fwiw, you have done a good summation of a reasonable interpretation.
I've gone from feeling really sorry for suckers I know who were dumping hard earned money into it to having to admit that they are making some money.
Mostly, I know that 1) I don't have the temperament to go there, and 2) the environmental impacts of mining it are antithetical to my values.
Hard to ignore it, though.
heh yeah it's a cycle from
'I told you BTC was a terrible place to put your money and I was right'
to
'yeah well ok but I don't see a long term future for it'
There IS no such thing as intrinsic value, unless you believe everything has value because it is all the work of god.
Bitcoin is a token, a convertible representation of value, like anything: casino chips, currency coinage and bills, IOU’s, a ski pass, a passport, stock certificate, etc.
Value is ALL situational, including food, fresh water, fire…everything.
