This Piece of Shit is Back At It Again

[Blake Hampton]

2 minutes ago, cubsfan said:

We call that progress Blake! LOL

Strong journalism makes an effort to eliminate bias in its reporting. If it's full of opinions, it ain't news. CNBC I think finds a good balance between its co-anchors.

Cubs, I wish that you would find a way to consume better journalism. Read The Economist or the WSJ. It would be good for you.

[Munger_Disciple]

I thought Joe's behavior in that interview was disgraceful. It's fine to ask a guest tough questions on TV but he should treat them with respect. Grantham might have called more bubbles than there were actual ones but he has a very decent long term track record and seems like a good human being from what I know publicly. 

Edited 8 hours ago by Munger_Disciple

[Spekulatius]

17 hours ago, NnnnotSoSmart said:

Grantham is certainly a nut job.  His crazy and glaringly unscientific obsession with "climate change" is evidence of it.  

 

A Grantham quote from an interview in 2022: 

 

"It strikes me as utterly trivial and only producible by economists. [...] The guy who got the Nobel Prize for it [William Nordhaus], for his work on climate change — actually he spelled it out. He said, 'Even if there was 10 degrees centigrade, it would only cost something in the range of 10 percent of GDP.' To which I say, 'Dudes, we will be long gone as a species at 10 degrees centigrade.' It is quite obvious at 1.1 [°C] that we are already having trouble. At 2, we will be struggling and societies will fail here, there, and everywhere. At 3, in a sense, forget about it [...] At 10 degrees . . . You cannot find a serious climate scientist who would bet that society, as we know it on a global basis, will still be around at 5 degrees centigrade. I have met a lot of them, and I ask them this question. Not one thinks we have any material chance of a stable society at 5 degrees centigrade." 

https://conversationswithtyler.com/episodes/jeremy-grantham/

 

In a 2012 Nature commentary, he urged climate scientists: "Be persuasive. Be brave. Be arrested if necessary. This is not only the crisis of your lives — it is also the crisis of our species' existence." He argued understatement is more dangerous than overstatement for this issue. 
https://yaleclimateconnections.org/2012/11/financier-jeremy-granthams-be-brave-advice-to-climate-scientists/

 

He is not wrong. A 10 Deg C increase in temperature results in  our world looking more like Mad Max. 

[Blake Hampton]

1 minute ago, Munger_Disciple said:

I thought Joe's behavior in that interview was disgraceful. It's fine to ask a guest tough questions on TV but he should treat them with the respect. Grantham might have called more bubbles than there were actual ones but he has a very decent long term track record and seems like a good human being from what I know publicly. 

 

Look at your president. I believe we are past the point of worrying about the outbursts of news anchors unfortunately.

[matthew2129]

The only thing more comically wrong then his bear/short calls are his long calls. Bro was a China bull in 2020/2021

[Blake Hampton]

I think economic calamity is certain.

I believe we will soon see the greatest financial crisis in human history: frozen credit, collapsing asset markets, desperate money printing in order to save us from it, and finally extreme inflation as that newly created money ultimately reaches the real economy. I often fear a complete currency collapse.

Our country is running historic deficits during full employment. Our last two recessions both nearly led to economic collapse. We have an erratic leader, a broken Congress, and an apathetic public that has completely checked out.

Our currency sits at the center of the global financial system. And never before in history have we seen trade imbalances of the size they are today.

And the worst part is that no one cares.

 

We're all just sitting here waiting to see how far faith alone can take us.

 

But maybe Trump will save us. He likes to paint himself as a god and has convinced the MAGA crowd that his record of failure will somehow lead to solving our greatest problems. I am doubtful.

Edited 7 hours ago by Blake Hampton

[Blake Hampton]

It feels almost obvious to me, and it makes me feel crazy that seemingly no one else sees it. Maybe I am.

Edited 7 hours ago by Blake Hampton

[matthew2129]

7 minutes ago, Blake Hampton said:

.. and finally extreme inflation as that newly created money ultimately reaches the real economy

 

Sounds bullish for stocks tbh lol

[Blake Hampton]

3 minutes ago, matthew2129 said:

Sounds bullish for stocks tbh lol

 

How Inflation Swindles the Equity Investor: Warren Buffett, May 1977

I actually have the original Fortune issue sitting on my shelf. I've probably read it 10 or 20 times.

[cubsfan]

1 hour ago, Blake Hampton said:

Strong journalism makes an effort to eliminate bias in its reporting. If it's full of opinions, it ain't news. CNBC I think finds a good balance between its co-anchors.

Cubs, I wish that you would find a way to consume better journalism. Read The Economist or the WSJ. It would be good for you.

 

I have not watched CNBC for years, after years of watching it.  From occasional clips I see - looks like somewhat balanced with Kernan being conservative and Sorkin plenty left.  

 

I'll take your word for it.

[Jay Rent]

Blake  -

 

In 1977,  Microsoft had $380K in revenue and 9 employees.

 

Apple innovated with the Apple 2 computer. 

 

In 1978 my parents overpaid for the house we grew up in with a 9.75% mortgage rate.

 

All survived inflation.

 

Never does Buffett say bet against the US.  

 

Pockets of the market, economy and politics will always be scary but stay the course and you will come out for the better.     

 

Grantham, Katsenelson (financial marketers) were saying in 2022 (when inflation first became a concern) that markets could not possible grow more after the first rebound (of course they were also pushing further market disasters at the bottom).     

 

Look at earnings on the SP since (not just market returns)

 

 

[Red Lion]

5 hours ago, Blake Hampton said:

 

I think economic calamity is certain.

I believe we will soon see the greatest financial crisis in human history: frozen credit, collapsing asset markets, desperate money printing in order to save us from it, and finally extreme inflation as that newly created money ultimately reaches the real economy. I often fear a complete currency collapse.

 

Don’t you hold cash/t-bills? Or am I mistaking you with another poster?