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nuckin_futz

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  1. Bank of Canada raises rates by 25 basis points to 5.0% July interest rate decision The Bank of Canada lifted rates by 25 basis points to 5.0% as expected. The full statement from the BOC: The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Global inflation is easing, with lower energy prices and a decline in goods price inflation. However, robust demand and tight labour markets are causing persistent inflationary pressures in services. Economic growth has been stronger than expected, especially in the United States, where consumer and business spending has been surprisingly resilient. After a surge in early 2023, China’s economic growth is softening, with slowing exports and ongoing weakness in its property sector. Growth in the euro area is effectively stalled: while the service sector continues to grow, manufacturing is contracting. Global financial conditions have tightened, with bond yields up in North America and Europe as major central banks signal further interest rate increases may be needed to combat inflation. The Bank’s July Monetary Policy Report (MPR) projects the global economy will grow by around 2.8% this year and 2.4% in 2024, followed by 2.7% growth in 2025. Canada’s economy has been stronger than expected, with more momentum in demand. Consumption growth has been surprisingly strong at 5.8% in the first quarter. While the Bank expects consumer spending to slow in response to the cumulative increase in interest rates, recent retail trade and other data suggest more persistent excess demand in the economy. In addition, the housing market has seen some pickup. New construction and real estate listings are lagging demand, which is adding pressure to prices. In the labour market, there are signs of more availability of workers, but conditions remain tight, and wage growth has been around 4-5%. Strong population growth from immigration is adding both demand and supply to the economy: newcomers are helping to ease the shortage of workers while also boosting consumer spending and adding to demand for housing. As higher interest rates continue to work their way through the economy, the Bank expects economic growth to slow, averaging around 1% through the second half of this year and the first half of next year. This implies real GDP growth of 1.8% in 2023 and 1.2% in 2024. The economy will move into modest excess supply early next year before growth picks up to 2.4% in 2025. Inflation in Canada eased to 3.4% in May, a substantial and welcome drop from its peak of 8.1% last summer. While CPI inflation has come down largely as expected so far this year, the downward momentum has come more from lower energy prices, and less from easing underlying inflation. With the large price increases of last year out of the annual data, there will be less near-term downward momentum in CPI inflation. Moreover, with three-month rates of core inflation running around 3½-4% since last September, underlying price pressures appear to be more persistent than anticipated. This is reinforced by the Bank’s business surveys, which find businesses are still increasing their prices more frequently than normal. In the July MPR projection, CPI inflation is forecast to hover around 3% for the next year before gradually declining to 2% in the middle of 2025. This is a slower return to target than was forecast in the January and April projections. Governing Council remains concerned that progress towards the 2% target could stall, jeopardizing the return to price stability. In light of the accumulation of evidence that excess demand and elevated core inflation are both proving more persistent, and taking into account its revised outlook for economic activity and inflation, Governing Council decided to increase the policy interest rate to 5%. Quantitative tightening is complementing the restrictive stance of monetary policy and normalizing the Bank’s balance sheet. Governing Council will continue to assess the dynamics of core inflation and the outlook for CPI inflation. In particular, we will be evaluating whether the evolution of excess demand, inflation expectations, wage growth and corporate pricing behaviour are consistent with achieving the 2% inflation target. The Bank remains resolute in its commitment to restoring price stability for Canadians. ************* 5% rates brings us in line with the US.
  2. Tesla reportedly suspected Musk was using company funds to build a literal glass house The Wall Street Journal reports the company's board launched an investigation last year. Tesla may have investigated CEO Elon Musk over possible improprieties. The Wall Street Journal's sources claim the EV maker's board launched an investigation over concerns Musk might be using company funds to build a house near the Austin-area Gigafactory. Nicknamed "Project 42," the initiative is believed to involve a purchase of millions of dollars in special glass — large enough that it drew attention from employees last year. Limited liability firms linked to Musk and executives are also known to have bought large volumes of land in the area. Concepts for the house included either a "twisted hexagon" or a glass cube reminiscent of Apple's 5th Avenue store. This appeared to be personal space as it included bedrooms, bathrooms and a kitchen, the tipsters said. The status and results of the investigation aren't known. Tesla disbanded its PR department years ago, and Musk hasn't commented on the report as of this writing. However, the board reportedly wanted to learn if Musk was involved and whether worker time had been devoted to the house. Bloomberg learned of the glass order last year, but didn't know about the board or the nature of Project 42. Executives sometimes receive perks like jets. The policies for these rewards vary, however, and Tesla's approach is relatively strict. The automaker requires a board committee audit for any expense above $120,000 where a related person, like the CEO, has a material interest. This isn't the first time a high-profile tech executive has faced scrutiny over spending. Meta investigated departing COO Sheryl Sandberg over allegations she used company resources to further personal goals, such as wedding planning or attempts to quash a news story critical of her ex-partner Bobby Kotick. Musk's profile as a major CEO makes this case stand out, however. The leader is no stranger to legal entanglements. He's still embroiled in a fight with the Securities and Exchange Commission over tweeting financial data, and survived a defamation lawsuit from British cave explorer Vernon Unsworth over unsubstantiated "pedo guy" accusations. ****************** Doesn't hurt when your brother is on the Board of Directors.
  3. I would imagine it is increasingly stressful as there's always someone with more. It becomes a never ending pursuit. The only thing assured is envy and feelings of inadequacy. A real recession would smarten people up but the powers that be have outlawed them. This event you speak of was the 2008 Great Financial Crisis. That was mass unemployment, pensions wiped out, retirement funds halved, you know real hardship. But short sighted Central Banks decided to wall paper over it with trillions in public debt. Recessions are like forest fires. They can be devastating but they are necessary to trim excesses. The economy is a bit like the human body. If you keep it going with junk food, alcohol, lack of sleep and little exercise eventually there will be Hell to pay as disease creeps in. If you keep an economy artificially going with debt upon debt eventually the patient (the economy) gets so sick they cannot be saved. But it can survive for a mindbogglingly long time. Case in point Keith Richards is 79 and Ozzy is 74.
  4. It's painful watching the juggernaut Alex Anthopoulos has built in Atlanta.
  5. So there's an in-season tournament and then there's the regular playoffs? This seems like having the playoffs twice. So who's the champion? Do you hold a parade and get a banner and rings for being an in-season champion? This seems confusing, unnecessary and silly.
  6. CIN 7, MIL 5 Stolen Base Home Elly De La Cruz steals (16) home. Stolen Base 3B Elly De La Cruz steals (15) 3rd base. De La Cruz on 2ndStolen Base 2B Elly De La Cruz steals (14) 2nd base. De La Cruz on 1st CIN 6, MIL 5 Single Elly De La Cruz singles on a line drive to left fielder Raimel Tapia. TJ Friedl scores. ************ Don't think I have ever seen a guy steal 3 bases in 1 inning after driving in the go ahead run.
  7. Not sure where to put this article but this seems like a good place ........ Charlie Munger Says Hardships Faced In His Day Were 'Unbelievable,' But People Today Are Miserable, Despite Having it Easy — He Blames Envy Billionaire Charlie Munger, the renowned investment partner of Berkshire Hathaway Inc. CEO Warren Buffett, says people should strive for greater happiness. Expressing his perplexity toward the current lack of contentment among people, Munger emphasized the disparity between present circumstances and the hardships endured throughout history. Addressing attendees at the annual meeting of the Daily Journal, the 99-year-old highlighted his own formative years during the 1930s. Munger recalled the profound challenges Americans faced during the Great Depression, expressing his surprise at the comparatively lower levels of happiness observed today. Munger explained, "It's weird for somebody my age, because I was in the middle of the Great Depression when the hardship was unbelievable." Studies prove Munger is right — Americans aren't as happy as they once were. The General Social Survey, which has been assessing American happiness levels since 1972, reveals a recent shift. Prior to the pandemic, more people reported being "very happy" than "not too happy." But in the latest survey, a record 24% expressed being "not too happy," while a record low of 19% claimed to be "very happy." Munger also expressed concern about the role envy plays in people's lives today. He pointed out that before the 1800s, life was more challenging, lacking basic comforts and conveniences such as the printing press, air conditioning and modern medicine. Munger's comments highlight the significant progress made in recent centuries. According to him, "It is the nature of our species that we look around us at other people and are envious of them if they have more than we do. That envy has always been a big problem." Studies suggest that about 75% of individuals experience envy toward others each year, supporting Munger's observations about the prevalence of envy in today's world. A study from the University of California, San Diego published in Basic and Applied Social Psychology reveals that younger adults experience more envy compared to older adults. The research shows that younger people are envious of looks and various other things, with both men and women more likely to envy peers of similar age. The study surveyed over 900 people ages 18 to 80 and found that over three-fourths of participants reported experiencing envy in the past year. Envy declines with age, with around 80% of those younger than 30 feeling envious compared to 69% of people older than 50. Munger acknowledged the persistence of discontent among many people, despite significant improvements in various aspects of life. He noted that even when things have improved by around 600%, there will always be people who possess more, fueling feelings of unhappiness and perceived mistreatment. https://www.yahoo.com/finance/news/charlie-munger-says-hardships-faced-172713978.html
  8. Andrescu still alive after a tough 3 set tie break.
  9. Dolly Parton's making a rock record with a lot of industry heavy weights. Record comes out Nov 11. Dolly Parton: Rockstar tracklist 1. Rockstar (with special guest Richie Sambora) 2. World on Fire 3. Every Breath You Take (feat. Sting) 4. Open Arms (feat. Steve Perry) 5. Magic Man (feat. Ann Wilson with special guest Howard Lee) 6. Long As I Can See The Light (feat. John Fogerty) 7. Either Or (feat. Kid Rock) 8. I Want You Back (feat. Steven Tyler & special guest Warren Haynes) 9. What Has Rock And Roll Ever Done For You (feat. Stevie Nicks & special guest Waddy Wachtel) 10. Purple Rain 11. Baby, I Love Your Way (feat. Peter Frampton) 12. I Hate Myself For Loving You (feat. Joan Jett & The Blackhearts) 13. Night Moves (feat. Chris Stapleton) 14. Wrecking Ball (feat. Miley Cyrus) 15. (I Can’t Get No) Satisfaction (feat. P!nk & Brandi Carlile) 16. Keep On Loving You (feat. Kevin Cronin) 17. Heart Of Glass (feat. Debbie Harry) 18. Don’t Let The Sun Go Down On Me (feat. Elton John) 19. Tried To Rock And Roll Me (feat. Melissa Etheridge) 20. Stairway To Heaven (feat. Lizzo & Sasha Flute) 21. We Are The Champions 22. Bygones (feat. Rob Halford with special guests Nikki Sixx & John 5) 23. My Blue Tears (feat. Simon Le Bon) 24. What’s Up? (feat. Linda Perry) 25. You’re No Good (feat. Emmylou Harris & Sheryl Crow) 26. Heartbreaker (feat. Pat Benatar & Neil Giraldo) 27. Bittersweet (feat. Michael McDonald) 28. I Dreamed About Elvis (feat. Ronnie McDowell with special guest The Jordanaires) 29. Let It Be (feat. Paul McCartney & Ringo Starr with special guests Peter Frampton & Mick Fleetwood) 30. Free Bird (feat. Ronnie Van Zant with special guests Gary Rossington, Artimus Pyle and The Artimus Pyle Band)
  10. This is from last Friday ............ Apple closes above $3 trillion in market cap. Nasdaq has best start to year in 40 years End of week, month, quarter The price of Apple closed above $3 trillion for the 1st time. It was also the 1st company to do that. The NASDAQ index had its best start to the year in 40 years. The major indices all closed higher for the week and the month. The final numbers are showing: Dow industrial average rose 285.16 points or 0.84% at 34407.59 S&P index was 53.92 points or 1.23% at 4450.37 NASDAQ index rose 196.60 points or 1.45% at 13787.93 The Russell 2000 small-cap stocks rose 7.14 points or 0.3% at 1888.73. For the week: Dow industrial average rose 2.02% S&P index rose 2.35% NASDAQ index rose 2.19% For the month of June: Dow industrial average rose 4.56% S&P index rose 6.47% NASDAQ index rose 6.50% For the 2nd quarter: Dow industrial average rose 3.41% S&P index rose 8.30% NASDAQ index rose 12.81% For the 1st half of 2023: Dow industrial average rose 3.8%. S&P index rose 15.91%. NASDAQ index rose 31.73%. *********************** The indexes are still off their all time highs but that's a pretty good performance in the face of 5% interest rates.
  11. Bret Saberhagen is 59 years old and still getting paid by this idiot franchise. He last played for the Mets in 1995.
  12. Heff's link has the back story on Gibson's 1968 season. 1968 is also the last year a pitcher won 30 games. Denny McClean of the Tigers went 31-6. Agree with you about today's hitters. They wind up seeing multiple different pitchers in a game. They may go from seeing a righty to a lefty, to a submariner, to a guy throwing 100+mph. Back then as you said. a pitcher finished what he started and you'd wind up getting 4-6 at bats against the same guy as he's getting tired and slowing down.
  13. His ERA that year was 1.12. His record was 22-9. How the Hell do you lose 9 games with an ERA that low???
  14. 1 Springer 2 Merrifield 3 Vladdy 4 Bo 5 Chapman 6 Keirmaier 7 Belt 8 Jansen/Kirk 9 Varsho
  15. Despite that 3.53 ERA Giolito has been a bit of a nightmare in 1st innings this year giving up 1st inning runs in 8 out of 17 starts. Would be nice if the Jays could jump all over him and get Bassitt a lead.
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