The unimportant news thread

[Pohjolas Daughter]

I teach a student that collects audio cassettes.  Now we just have to wait for the return of eight track!

Get your *pencils ready!

*Think "rewind errant tapes".

PD

[SimonNZ]

Get your *pencils ready!

*Think "rewind errant tapes".

PD

And wind it back with a kink so you press play and hear the wrong side backwards.

[Spotted Horses]

The "Last Movie I Watched" thread got out of hand and had to be locked? Huh?

[Florestan]

The "Last Movie I Watched" thread got out of hand and had to be locked? Huh?

People tend to be overzealous at their new job, especially when it deals with exercising authority. 

IMO there was nothing in that thread that warranted its being locked.

[OrchestralNut]

People tend to be overzealous at their new job, especially when it deals with exercising authority. 

IMO there was nothing in that thread that warranted its being locked.

I support the moderator's decision and it is temporary as a cooling period mechanism. 

[Todd]

Moody's cuts outlook on U.S. banking system to negative, citing 'rapidly deteriorating operating environment'

[drogulus]

    This bank run is causing me sleepless minutes. Nevertheless, I refuse to buy more bank shares.

[Karl Henning]

This bank run is causing me sleepless minutes. Nevertheless, I refuse to buy more bank shares.

So, is crypto complete bunko, or what?

[drogulus]

So, is crypto complete bunko, or what?

     It's best to think of it like that unless you're a criminal.

[drogulus]

    My default view is Fed bashing is for weaklings. Still, you know what they say about stopped clocks, so this might help:

   

    Yeow!

Banks invest their deposits in short-term bonds, for the most part. But even short-term bonds can have large unrealized losses when interest rates spike until the bonds mature. And bonds that have more interest rate risk are even more susceptible to large losses. All told, banks are now sitting on roughly $600 billion of losses in what are supposed to be among the safest instruments in the world. All because the fed went too far too fast.

     The red line on the chart tells the tale.

[Todd]

From the Gray Lady: The Silicon Valley Bank Rescue Just Changed Capitalism

Mr Lowenstein's too long op-ed can be summed up thusly: financial industry capture of the American government is now complete as pretenses of effective regulation have been dropped in favor of formalizing the 2008 crisis response of socializing risk while allowing (encouraging) private sector profit and concentration.  It's all good.

[Todd]

Wall Street rides to the rescue as 11 banks pledge First Republic $30 billion in deposits

Headline of the year.  So far.

[Dry Brett Kavanaugh]

BBC: Sleeper trains are being revived across Europe.


https://www.bbc.com/news/business-64950747

[greg]

It was surprising to see CNN cover this, but it's great that they did. They broke down the issue and explained it well.


"Why the rate of single men in the US looking for dates has declined"

https://www.youtube.com/watch?v=vK4y6C1Uuhw

[DavidW]

It was surprising to see CNN cover this, but it's great that they did. They broke down the issue and explained it well.


"Why the rate of single men in the US looking for dates has declined"

https://www.youtube.com/watch?v=vK4y6C1Uuhw

I knew about that issue.  Online dating apps are a mistake.  But also those 20 somethings are surprisingly just completely friendless many times.  Not just no romantic partner, but no social life whatsoever.  Combine that with the almost complete lack of social mobility and high levels of depression that gen Z face and you have a real crisis on your hands.

[Karl Henning]

I knew about that issue.  Online dating apps are a mistake.  But also those 20 somethings are surprisingly just completely friendless many times.  Not just no romantic partner, but no social life whatsoever.  Combine that with the almost complete lack of social mobility and high levels of depression that gen Z face and you have a real crisis on your hands.

Doesn't matter how introverted one may be (some people nearest me are so) socializing is crucially important.

[Todd]

Midsize US Banks Ask FDIC to Insure All Deposits for Two Years

[greg]

Online dating apps are a mistake.

Yes.

Doesn't matter how introverted one may be (some people nearest me are so) socializing is crucially important.

Very true.

I feel like that I'm most comfortable if I spend ~95% of my time completely isolated from everyone else, but that 5% is more important than you'd think 5% of something would be. Seeing a friend once in a while is definitely a plus, even if it means I might have to delay some other things.

Mostly the benefit being that it shakes things up a bit, adds some variety.

[LKB]

https://www.bbc.com/news/world-europe-65004610

Never a sniper when you need one...

[Todd]

UBS agrees to buy Credit Suisse for more than $2bn

Credit Suisse has been a basket case since it bought First Boston.  I remember having to deal with some of CSFB's secondary market detritus in the late 90s when it was hit by the '98 crisis.  It was then hit hard in '08.  Now it is gone.  (But this banking kerfuffle is small potatoes, amiright?)  And the Swiss now have a real deal SIB.  What fun will next week bring?