Jump to content

james22

Member
 View Profile  See their activity

  • Posts

    1,841

  • Joined

  • Last visited

  • Days Won

    1

 Content Type 

Posts posted by james22

    78% of Americans live paycheck to paycheck

    in General Discussion

    Posted

    2 hours ago, RichardGibbons said:

    FWIW, this is a misunderstanding of evolution. Lots of stuff gets passed on that didn't aid our ancestor's survival and reproduction. All something needs to be passed on is to not be catastrophic before reproduction.

     

    You're thinking evolutionary biology (the mechanism), where not only the fittest (or most adaptive) survive.

     

    Evolutionary psychology works backwards, identifying the drivers of behavior today by their value in the past. Dismisses anything else passed on that didn't aid our ancestor's survival and reproduction.

    78% of Americans live paycheck to paycheck

    in General Discussion

    Posted

    50 minutes ago, blakehampton said:

    Is it really possible that this is somehow hardwired into us as humans?

     

    How could it not be?

     

    Only those adaptations that aided our ancestor's survival and reproduction were passed on.

     

    (A preference for immediate rewards over those uncertain is the least of our environmental mismatches today.)

    78% of Americans live paycheck to paycheck

    in General Discussion

    Posted

    26 minutes ago, TwoCitiesCapital said:

    It's just humans, in general, struggle with delayed gratification and savings. It's not a  particular demographic or social media's fault. It's that people, in general, suck at this. 

     

    Sure, for good reason. Evolutionary psychology still has us uncertain about future rewards.

    Cryptocurrencies

    in General Discussion

    Posted

    27 minutes ago, gfp said:

    Just to get this straight, if you are a MSTR and BTC maximalist / bull / whatever, you want the SEC to not approve the ETH ETF because everything except Bitcoin is a security and that means BTC is unique as digital property and "there is no second best."  - right?

     

    Right.

     

    I'm guessing it's probably more likely to be approved now than not though, as crypto has become political.

     

    And Biden will most likely not veto the crypto custody bill. Either to offset the ETF denial or as reflecting their new support.

    78% of Americans live paycheck to paycheck

    in General Discussion

    Posted

    Joanne Hsu, who is the director of the University of Michigan’s consumer sentiment survey, told CNBC on Friday that she thinks Americans have abandoned plans to save money as they see their financial goals look less attainable and are spending money instead.

     

    “This positive spending is not a reflection of some sort of internalized secret sense of confidence that consumers have,” he explained. “And instead my interpretation is that consumers see that a lot of aspirational goals that we talk about as part of the American Dream—homeownership, paying for college, paying for college for your kids, having a comfortable retirement—with high prices and high interest rates right now, those aspirational goals just feel increasingly out of reach.”

     

    And as a result, consumers have “given up” on saving for those goals, Hsu added, noting that the still-strong labor market allows them to spend now.

     

    https://fortune.com/2024/05/19/economic-outlook-consumer-sentiment-inflation-high-rates-saving-american-dream-spending-labor-market/

    Cryptocurrencies

    in General Discussion

    Posted

    The U.S. state of Wisconsin purchased 94,562 shares of BlackRock’s iShares Bitcoin Trust (IBIT) in the first quarter of the year, a filing shows. The shares are worth nearly $100 million. . . .

     

    "Normally you don't get these big fish institutions in the 13Fs for a year or so (when the ETF gets more liquidity) but as we've seen these are no ordinary launches," Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a post on X. "Good sign, expect more, as institutions tend to move in herds."

     

    https://www.coindesk.com/business/2024/05/14/state-of-wisconsin-buys-nearly-100m-worth-of-blackrock-spot-bitcoin-etf/

    Cryptocurrencies

    in General Discussion

    Posted

    2 hours ago, Sweet said:

    Is this supposed to be bullish?  Each of the hoorahs ending in disaster.

     

    Sure.

     

    Unless you believe Bitcoin has inherent risk anything like MBS (speculation) or ESG (political)? 

     

    Or you believe he's learned nothing from his experience? 

     

    Or doesn't wish to go out on top?

     

    And even so, if does end in disaster, isn't there  money to be made in the runup?

    How is the Fed going to cut rates with inflation over 3%?

    in General Discussion

    Posted

    Jared Bernstein (born December 26, 1955) is an American "economist" who is the chair of the United States Council of Economic Advisers. He is a senior fellow at the Center on Budget and Policy Priorities. From 2009 to 2011, Bernstein was the chief economist and economic adviser to Vice President Joe Biden in the Obama Administration. In 2008, Michael D. Shear described Bernstein as a progressive and "a strong advocate for workers".

     

    In February 2023, President Joe Biden nominated Bernstein to serve as Chair of the Council of Economic Advisers despite not having a formal background in economics. He was confirmed to be chair on June 13, 2023. He was ceremonially sworn in by Vice President Kamala Harris on July 10, 2023.

     

     

    Bernstein graduated with a bachelor's degree in music from the Manhattan School of Music where he studied double bass with Orin O'Brien. Throughout the Eighties Jared was a mainstay on the jazz scene in NYC.

     

    He also earned a Master of Social Work from Hunter College as well as a DSW in social welfare from Columbia University's school of social work.

     

    https://en.wikipedia.org/wiki/Jared_Bernstein

×
×
  • Create New...