sandy beach

This is hilarious!

OMG - you are like the Adrian Monk of pot farms! Who knew? Seriously I'm loving this. I think we should make this a daily stool op-ed.

Time for another pot farm post!

End of quarter long covering.

Federal government current expenditures: Interest payments.

There is now a mathematical limit to what the Fed can do before causing a debt crisis. A debt crisis that was over two decades in the making.

FED'S BRAINARD: THE FED IS DETERMINED NOT TO WITHDRAW PREMATURELY.

BEA: Inflation comes in hot! YoY PCE +6.2% (0.3% MoM) Goods +8.6% Services +5.0% Food +12.4% Energy +24.7% Core PCE +4.9% (0.6% MoM) https://www.bea.gov/news/2022/personal-income-and-outlays-august-2022-and-annual-update

Nike gets the boot after hours down over 13% on concern they have too much inventory.

Thanks! I find these very interesting! I may buy one some day

Bank of England launches £65bn move to calm markets Central bank to spend £5bn a day for 13 days as it warns of ‘material risk to UK financial stability’ “At some point this morning I was worried this was the beginning of the end,” said a senior London-based banker, adding that at one point on Wednesday morning there were no buyers of long-dated UK gilts. “It was not quite a Lehman moment. But it got close.” The most directly affected groups were final salary pension schemes that have hedged to ensure their ability to make future payments — so-called liability-driven investment strategies that are very sensitive to fast-moving gilt yields. “It appears that some players in the market ran out of collateral and dumped gilts,” said Peter Harrison, chief executive of Schroders, which has $55bn in global LDI business. https://www.ft.com/content/756e81d1-b2a6-4580-9054-206386353c4e

Turkey’s central bank makes big rate cut amid 80% inflation “Inflation is not a crippling economic threat,” Erdogan said in an interview with PBS NewsHour this week. “There are currently countries threatened by inflation rates of 8% and 9%. This rate is 80% in our country.” https://apnews.com/article/inflation-middle-east-recep-tayyip-erdogan-4184af38885e4195d1a1818f11d13a8b

Bank of America - commodity deflation:

Bond markets are experiencing "excited delirium."