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Gender: Do not display
Hometown: PA
Home country: USA
Current location: DC
Member since: Mon Nov 10, 2003, 07:36 PM
Number of posts: 42,027

About Me

If an H-1b has an American accent, they are probably not an H-1b. It's race, not citizenship. Americans are more diverse than you think. Millions of US citizens don't look the way you might expect. This fact is very important and will help us win elections.

Journal Archives

Imran Khan Talks Cricket, the Taliban and Being Ousted from Power VWN Meets

His supporters outside protesting against his arrest. Sounds Trumpy.

'Ted Lasso' star takes question from a 'familiar face' at White House press briefing

The banking meltdown may have done the Fed's work for it


What’s happening: Fears of a bank run cause lenders to take fewer risks with their capital reserves to ensure they have enough cash to cover any potential withdrawal requests, said analysts at Pantheon Macroeconomics. That makes them “disinflationary events,” they wrote in a note on Tuesday.

Economic growth could be reduced by as much as half a percentage point in 2023 if small and midsize banks tighten their lending standards. That could have the equivalent effect of the Fed hiking rates by half a point, said Goldman Sachs economists on Tuesday.

That’s because banks with less than $250 billion in assets account for about 50% of US commercial and industrial lending, 60% of residential real estate lending, 80% of commercial real estate lending and 45% of consumer lending, according to Goldman analysts led by chief economist Jan Hatzius.

Torsten Slok, chief economist at Apollo Global Management, estimated in a note that the banking meltdown could have an even larger effect on the economy, equivalent to a percent-and-a-half rate hike by the Fed.

“In other words, over the past week, monetary conditions have tightened to a degree where the risks of a sharper slowdown in the economy have increased,” he wrote in a note over the weekend.

Trump screwing America with bank deregulation should be no surprise from a grifter who pays off porn stars with campaign funds.

There were some cherry blossoms at the National Arboretum yesterday

Peak bloom is this week for the famous Yoshinos but there are other types of cherry trees that bloom before and after that.

Expect massive crowds at the tidal basin, as always. But not too many folks at the arboretum.

Global banking crisis: One big problem down. Too many others left to go


New York

Credit Suisse, hobbled for decades by mismanagement, scandal and bad bets, finally succumbed to the emerging global banking crisis. Its stunning and rapid takeover by rival UBS, orchestrated by Swiss authorities Sunday, took one giant, wobbling domino off the table. Hours later, a group of central banks from around the world boosted the movement of US dollars through the global financial system to keep loans flowing to households and businesses and support the world’s major economies.

The question investors and nervous customers want answered this week: What’s next? Are other banks about to fall – or be saved? Will regulators be forced to step in with more rescue plans?

In the United States, the banking crisis began nearly two weeks ago with the sudden collapses of Silicon Valley Bank and Signature Bank over a three-day span. That sent shockwaves through the global banking system.

Regional banks with similar profiles to SVB, including First Republic Bank (FRC), PacWest (PACW) and Western Alliance (WAL), have teetered on the brink over the past week. Anxious customers have pulled tens of billions of dollars in cash from the smaller banks and placed them with bigger institutions that are better capitalized.

To pay customers their withdrawals, regional banks have scrambled to access enough cash. First Republic received a $70 billion loan from JPMorgan Chase a week ago and another $30 billion lifeline from a consortium of 11 banks, organized by US regulators, on Thursday. That still appears to be insufficient, with First Republic’s shares tumbling another 33% Friday.

Our economy can switch from "nobody wants to work anymore" to "they're stealing our jobs" real quick. Hope for the best, but be prepared for the worst.

I will come steal your job if I have to.

'Let your woke flag fly': Psaki picks apart GOP's war on wokeism

How the Youth Vote Is Being Suppressed - Long Story Short The Daily Show

House MD and Kal Penn Confront The "Woke Mind Virus" The Daily Show

Ooh so scary

Here Are The Road Closures For Saturday's Rock 'N' Roll Half Marathon


The Rock n’ Roll Half Marathon and 5K is set to close a number of roads in downtown D.C. starting Friday evening and into Saturday night.

The race will begin at 8 a.m. Saturday near Constitution Avenue NW and 14th Street SW on the National Mall.

Runners will proceed on a course that loops around the city. This includes going west across the Memorial Bridge, proceeding north all the way to Harvard Street NW, going past the McMillan Reservoir, and then moving south down North Capitol Street NW before ending outside of the U.S. Capitol.

In all, the half marathon will cover just over 13 miles. The 5K will start near the U.S. Capitol, and proceed north to N Street NE before coming back to the Capitol grounds.

Because of these races, D.C. police have announced a slew of road closures with some starting as early as Friday at 6 p.m.

I would avoid driving downtown this Saturday. Metro is best.

Moody's puts six US banks on watch for potential downgrade


New York

Moody’s Investors Service placed six US banks on review for potential credit rating downgrades late Monday, in the wake of last week’s collapse of Silicon Valley Bank.

The credit ratings firm also downgraded Signature Bank deep into junk territory following that bank’s failure. Ratings downgrades can make it more expensive for companies to borrow money.

Moody’s warned it could similarly downgrade First Republic Bank (FRC), Zions (ZION), Western Alliance (WAL), Comerica (CMA), UMB Financial (UMBF) and Intrust Financial. The firm cited the “extremely volatile funding conditions for some US banks exposed to the risk of uninsured deposit outflows.”

The move comes after shares of regional banks got clobbered on Monday even after the US federal government stepped in with a massive intervention designed to protect depositors and prevent further bank runs. Regional bank shares rebounded in premarket trading on Tuesday.

No need to panic or make rash decisions. It's good to be cautious
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