Comments by "" (@jmitterii2) on "I Allegedly"
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Musk is a big freeloader and scam con artist of the century.
That's my take on the hustler.
EV's while interesting and cute, they're not cost effective, not safe, and they're not green. They're so not green. Take a peak at cobalt mines, nickle mines, and lithium mines. All you're doing is front loading your carbon expense in the batteries ahead of using gas/diesel. And these batteries don't last very long, and incredibly unsafe. Lithium burns when subjected to water. That's why you can't just put out a lithium fire by dumping water on it, it'll cause the lithium to ignite. Your phone burns, pouring water on it can make the fire worse. You just have to let it burn out, and dump CO2 or other stuff to attempt to stifle oxygen to it, and when it's doing a thermal runaway you just have to let the energy dump exhaust itself, all that pent up battery energy is being released all at once through one cell batter to another in a thermal runaway. Happens with all lithium ion batteries like phones and lap tops and long since has happened to lithium ion go carts.
Musk is a con jobber... there's a skeptic on youtube that exposes the clown con jobber freeloader... you can google his channel or do a youtube search Musk skeptic or something.
He goes in depth to all of the cons Musk and his brother have been up to... and how horrible they've all gone, and how we the tax payer of footed just about every con.
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It's so easy up and go. You just have to find a job immediately, and still confront the same high rent prices (voiding the entire reason for moving because this nonsense is happening EVERYWHERE... not so much the bidding wars, at least not yet, but the insane rent prices).
What we need, and have needed since the 90's, but too much dogma prevailed and we allowed housing world wide (not just the US) to go with the whims of the market, which was captured by the banking sector... they sell debt... interest rates going down the only way they could keep making tons of money selling debt is to magnify the debt, that is to find something that most people borrow against (debt they sell) and make that a scarcity and pump the chicken on that asset. Lever it up. It's why stocks pump, or recently crypto stupidity pumped: Massive leverage. That dumps into the market.
All so that 5% to 2% rates would be similar to 7% to 15% rates of the past, just make the amount people borrow go up. Sell more debt.
This is why it's foolish to have the banking cartel Fed Reserve in charge of our monetary policy. They shall always use their power to enrich themselves at the rest of the economies detriment. Landlords will suffer soon enough, some of the most foolish and greedy have purchased rental units recently and will be immediately upside down (if they're not already even with these high rents) on their mortgages they used to borrow for these rentals.
It's a disaster for all.
It's as if we decided cobblers, show makers, control our monetary policy... you would see shoe stores on every street (as we see banks on every street, even in the most dead zombie town in the US).
We need a housing plan, because housing supply never increased enough for the population growth of the country since the 80's... oh that's right it's when public housing and planning moved directly to a "market" driven stupidity... which of course was taken over by the financial sector.
We need planning. No nation develops without it. Markets aren't a new thing, and they're no more efficient at something than a hammer... they're great at what they do. But they do not plan. They're not a planning method.
This is a complete supply chain issue... and it's been this way for some time. It's pure stupidity of the dogma that markets by themselves are some how magical and mighty.
Congrats... we're living in it. All it does cause massive imbalances boom busts that never allow enough of a good to materialize over time as the busts crush supply after demand is crushed... when demand starts to try to peak up a little, supply never gets where it needs to be for demanded needed, only where demand is capable. And then it eats more of the demand capable creating more demand incapable. And supply dips again. These oscillations becoming more and more pronounced over time, tearing itself apart.
Hope we learn from this dogma. It simply doesn't work. Just as state capitalism aka USSR or Mao China Communism doesn't work.
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Why does nobody in the real world aka the 99% of us worker bees really use Twitter... okay perhaps 3% of the scammers riding the coat-tails of oligarchs... and the propaganda networks of all the news channels that nobody believes anymore in some non-journalism forward whatever an oligarch poops out as if it's news, and 2% of the morons who buy tabloid magazines gad fly goober heads who have no life of their own.
And that's why Twitter can't make money... nobody really uses it other than oligarchs... and among these oligarchs they play various swindler games in their scams like Musk rat... and all the others.. and then they engage in stupidity drama to entertain some nit wit gad flies with no life of their own, and provide non-journalism to the propaganda networks to propound some narrative to manipulate the masses one direction or another among their own interests... perhaps one faction of oligarchs war against another or simply to push for one interest of making more billions to secure their dynastic wasp into the next two centuries.
Nobody essentially in the mass scale, nobody uses it... nobody cares... eyes roll among the 95% hearing about Twitter... they're twits... kids don't use that platform... ME and Z's don't... nobody uses it... it's garbage. Similar to LinkedIn and many other social media stuff... those platforms are a dime a dozen, low barrier to entry with server space being extremely cheap anyone can compete and there is no need for loyalty in any of these things.
Only reason Youtube itself has sustained is big money bags from IPO money providing huge legal teams to stop copyright law suits... so big producers and holders of copyrights instead of drowning youtube in copy right law suits like they did with Napster they decided to just allow consolidation of one giant platform and drown it out and eventually take it over similar to cable tv in owning the ad money.
Big IPO money and debt printer go burr allowed FB to do the same gobbling up platforms because there are no barriers to make another FB or similar. Only way they can stay relevant and not become a Myspace used by a fraction of the people over time, is to buy up any new one they think is a threat. Even then they run out of that IPO and ad dollar actual income money and junk bond and regular loans. Discord is at this time the most used among cross generations... and soon that will probably be replaced with something else... just as discord sort of humped reddit out.
Barrier to entry is that of a yard sell... there isn't any.
Twitter is probably concerned as other companies... if Musk is just scamming and has no actual intention nor capability in purchasing for the price he claims.... Musk hasn't been able to deliver on anything promised... it's always toned down or mostly ignored as he uses the tactic of moving immediately onto some other scam.
He's huckster and con jobber who has to keep dancing, and even then he's so caught up in scams the music will just go splat no matter what... but the moment he stops dancing the music will cease. And some of the potential criminal activities Musk is possibly committed from embezzling NASA funds to buy junk bonds of his cousins Solar City scam which has a host of other government local and federal scams grants, along with civil scams on TSLA shareholders on purchasing the bankrupt bogus scam of Solar City... then the host of other weirdo scams he calls companies... he's just collecting rubes with money in private offerings... then he goes after the rube retail investor or just simple person who never really has actively invested (as they have so little to do so in the first place aka they have no actual savings and are likely in debt to their eyeballs therefore have no real business investing yet) he goes after that fomo nonsense to keep his own debt juggling and stupidity going.
Eventually though... the house of cards comes crashing down. And I think we're very close... Musk is just one example.... social media the same... just examples... you can look at most industries and things or gizmos of today's economy. Banks have been at it not soon after 2008 collapse... they were all completely insolvent, no more than 2 to 3 years later, they're at it again approving loans to anybody with a pulse... Fed Reserve "buying" all their CBO's and junk. Music never stopped.
Problem becomes with a Fed Balance sheet to large (Fed does have a limit... it's the total bank reserves (deposits) in the member bank system) or they too cannot stay solvent.
But prior to that, they are the global monetary system... and they unleashed so much liquidity they've caused all other nations' currency to undergo very high inflation. Nations already flirting with hyperinflation and in that realm now. Thus they will need to increase interest rates... draw back their balance sheet to take all that debt based liquidity out.
And unfortunately lots of that debt itself is insolvent... it's trash.
I think this could spell the end to this idiotic notion since the 1908 of the Fed Reserve System. It has too many flaws and has not helped anyone since its inception except for a very few entrenched elites/oligarchs at the sheer horror and misery of everyone else. Like monarchies. Or dictators. Or other oligarchies of old.
Just doesn't work.... it was only a tool for the rulers that be to establish, maintain, and grow their power. At the eventual misery of us all. Harmful murderous parasites.
So far, all the Fed Reserve has done is give rise to the massive hucksters and liars without shame to pump scams onto everyone... massive pump and dumps... 1908... then we had a collapse 1924.... followed by the big one 1929.... and just over and over.
So fractional lending scheme and especially allowing a cartel banking system like the Fed Reserve to manage credit/money.... not a good idea... history points this out clearly.
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Sure tech companies particularly unprofitable companies (that includes TSLA without tax payer money and carbon credit binge from other auto makers) will lay off first.... and of course even profitable ones like Microsoft will lay people off to improve their margins.
But consumer staple companies won't. They, in fact, will continue to offer incentives such as sign on bonuses as they're doing now. And this will continue should they have the pricing power to do so to even expand their margins.
Home prices and all won't really go down so much until the Fed raises interest rates to combat inflation. We will, until then, go into stagflation. And as home prices fall, the monthly payments even at the fallen prices will be the same which will not encourage that many buyers (the banks always win because they control the markets)... not until the Fed gets serious about raising interest rates... then prices will fall proportionally to monthly payments suddenly becoming decent enough... but only because job losses will become obvious in ALL sectors including consumer staple jobs (food manufacturing, grocery retail, auto repair, etc.).
So you have to see unemployment start to really go up.
And again that won't happen until the Fed pumps the interest rates to combat inflation in a serious manner. If they do it slow... they'll grind rates to 10% like they did in 1970's... and still inflation and unemployment will be severe: welcome stagflation... prices of homes will still be too much because the payments will be too much even if they've retreated from the ridiculous speculative stupidity of last year and in some areas still now. If they slowly grind rates to 10%, and not active aggressively, they will then need and actually do active aggressively shooting interest rates probably as high as 25% like by 1980. And then we'll have several recessions... rock bottom. Then home prices will fall with a monthly payment for those employed who then can afford a home, and thus forming a bottom for the longer term.
This could play out for half a decade. If the Fed acts aggressively... then it could play out in just 2 years.
My bet though, they're going to act timid. It's just way to profitable in the stock market to keep interest rates low and hope on the transitory story which is completely BS.
And their capitulation will be when there are record homeless and the CPI numbers (which will have pull backs) but will come back... til it tops 10% and continues to bounce above that double digit number. Then you might get a president willing to commit political suicide and appoint a Volcker who will aggressively raise rates as this will probably topple us into a great depression... it caused series of recessions in the 70's... but imperialism, colonialism, globalism whatever structural race to the bottom economic term you want to call it, wasn't established... and thereby also unionization was still in the private employment at mid 20% of all workers were part of a union... right now only 6% union workers in the private sector (which could and looks to be rising a bit) and with the nonsensical more resource hogging pretzel supply chain exploiting tyrannized and destitute labor and national subsidies in colonialism... this structured economy looks much more like the 1920's. Both in terms of labor unionization and colonialism/imperialism/globalism with supply chains and tight inventories on inputs that can't handle any upset and were never authentically had any comparative advantage: exploiting the hot potato of destitute labor of one nation to another nation, and tyrannized labor, and input subsidies from the various nations.
Anyway, these are the two scenarios at this point and how it plays out in a nut shell:
1) Quickly aggressive Fed raising rates then we get massive unemployment quickly and we get a great recession number 2 more severe than the last... essentially a depression.
2) Slowly raise Fed Rates then enter into stagflation, and forced to aggressively raise Fed Fund rates... we get a great depression. And then we'll have our bottom.
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This is what happens when you do "lazy-fair" do nothing on staple goods like housing, water, food, etc.
Look at other nations particularly poorer ones that haven't enough tax dollars to provide any planning on any supply of various sector staple goods while ensuring price ceilings on these staple goods like food and water... or medical... fortunately essentially all nations even poor ones other than the US have some form of universal healthcare.
But food, our oligarchs in the US aren't that stupid to allow us to starve because we'll come eat the bacon at the top, and the swine know it.
And all other nations that are "developed" have various staple have a planned portion whether that's crop insurance, price floors on crops so farmers don't all go bust and the following year shortages occur and thus famine, natural monopolies like internet, electricity, sewer, water works, irrigation, etc. are mixed market economically situated. With robust housing rules to ensure enough supply is made to satisfy demand while keeping prices stable.
So our food sector is heavily subsidized with farmer insurance in case of crop failure to price support should excessive supply crop harvest occur the farmers don't all go bust in over supply of a particular crop any single or multiple years... a smart thing because nobody knows nor can predict poor harvest seasons nor if storage of existing crop will remain viable to supply during bad crop yield periods.
So I'm in full support of a little planning in our economy... otherwise we will literally, at some point, will starve or go hungry... and our oligarchs know this.
Water and sewer in just about all states are mostly publicly owned even the irrigation canal system for farming is also publicly owned and operated.
There's only a few exceptions and of those most states have serious controls over the pricing and methods of citizen accountability on private water works or other utilities in the form of usually a public utility commission. We, unfortunately, have most cities source private electrical distribution companies... which in Texas was a horrible situation where their "market" the bozo clown electrical power suddenly had problems when they had frost a year ago people suddenly faced with $1,000 or for their electrical bill that usually costs $100 to $200 during their winter period... 10x baby! Suck them lazy fair stupidity poison apple berries.
But most states aren't so conditioned into this type of brainwashed disaster to come idiocy. Most utilities particularly water and sewer remains city owned and operated thus planned and held in check for the need and supply and at an affordable stable pricing. Because utilities are natural monopolies straight up. They do not compete because they can't. And forcing competitive markets in such a natural monopoly makes absolutely no sense as you'll just bump prices up with no increase in quality and supply, but rather you'll do the opposite.
Some planning is necessary.
Shelter... is a big one. I mean we have some planning around the edges for those who are in serious poverty and have so many dependents (which is bad because this conditions people to have kids just to get extra income from the local governments and federal government). It should be more robust. And these people only get the handouts if and only if they're already in financial straights, locking these people into bad financial conditions probably for the rest of their lives.
Vienna Austria, look how they do it. Best method that meets supply to demand and continues to keep prices well within the ideal 20% level of income per month expenses. The quality is superior in that even the rich, who are still eligible to partake too in renting these apartments, who subscribe and live in these public apartments with laundries, pools, wash driers and/or hookups, 1 to 4 bedroom units, workout facilities, apartment park and playgrounds, etc.
Instead, we have lazy fair stupidity and as it plays out, all that is trying to adjust is monetarism via the Fed. And that simply doesn't work. All that does is provide exit points for oligarchs to cash out and buy the dips. And cash out again. And relocate abroad when the inevitable failures of a non-planned at all economy falls apart.
Welcome to Laissez faire "lazy fair" economy... such a fairground of stupidity.
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BTC correlates with the stock market lately... because the stable coin poker chips are into speculative investments... which include the stock market.
So don't bother with crypto... it's scam.
Look up tether and other stable coins...
And further reading... look up private money... it's not new. It's happened all through recorded history... private money always crashes. Our recent history in the US, had wild cat banks and all sorts of stupidity further back colonial period there was Colonial Script. All of them went bust on a big run on their funny money.
It's where lots of sayings come from: funny money, not worth a wooden nickle, etc. Private money would be created in a locality, and always end in a collapse toward stable national currency and money backed by gold or silver or something of intrinsic value.
SO I would stay away from crypto. Junk. It's as bad as buying money losing bozo the clown tech stocks back in 2020. Not a good decision.
And not that many countries are actually "accepting" it. Only one really. And nobody actually accepts the crypto. They accept national money you can sell and give to them from your crypto.
Doesn't help that it's incredibly expensive to manipulate... just to move crypto from one wallet to another costs "gas" fees. So if you want to move money to hard wallet, on your computer off an exchange for safe keeping... that'll cost you. And that cost can vary from a few bucks to hundred bucks worth in crypto to USD. Becomes absurd.
And the time it takes to complete transactions on various crypto like BTC or ETH can take hours to days... and the number of confirmations required for an exchange to credit you with a verified deposit can take a week. And that's before hardly anyone is using it. It can't scale. None of it can.
It's all garbage. Doge coin meme coin, mints 4,000 new doggy coins a minute... hyper inflationary... which does keep the transaction costs down... but that savings in transaction costs is offset by the hyper inflation 4,000 coins a minute creation... miners act as both minting new coins and as a side thing they record transactions happening on the block chain... the big torrent file ledger.
Then there's lots of security problems if miners vanish which can make any coin lose all security... 51% attacks and just hard forking can take place where various big miners no longer agree with periods of transactions that took place. Becomes a real mess.
I would just stay away from crypto... if you feel like gambling on it... put just tiny sums of real money toward it, and not now, but later when everyone says it's dead, the price reflects this. Then throw a bit of money... you could get a bounce or something and cash the fake money real money... but over the long haul... it's the same as all other private money... while all of private money has always failed, this crypto crap is even worse in that at least private money never had insane valuations built on a giant pyramid ponzi schemes.
Be careful touching crypto.
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Beware of crypto... the heart of the scheme are stable coins USDT and UDSC mostly but Terra too and there is Binance "stable" coin.
They function like poker chips inflating the price being dispensed by crypto margin exchanges 100x leverage to any fool with a VPN (because it's illegal for these entities to allow unregistered derivatives to be traded by American citizens, an none for the most part have been approved by the SEC as they're well aware of the bogus leveraged nonsense going on, several meetings by the SEC and Treasury department have been conducted, and there is an active DOJ investigation on Tether itself).
These poker chips have been minted in exponential amounts since the big pump leading into August 2020 and last large minting of these poker chips was November of 2021.
They cannot hide such a scam since both USDT and USDC mint their tokens on the ETH block chain... along with the Tron block chain and it is an open ledger all can see.
And we can also calculate actual real money inflows and outflows... since November there has been a net outflow of real money from crypto.
Anyway, google tether and read some very detailed articles. USDC is also a scam. All of it. Terra, right now, is an open Ponzi promising 20% or more returns if you lock them up using investor money to pay these depositors... net inflows are draining this investor pool and that real money inflow is also net negatives... investor pool is nearly drained and losing its ability to maintain any function, Terra started a daisy chain of crypto as collateral buying up BTC and ETH and other crypto as collateral.
Just be careful because all of them require constant real money inflows... and that has become negative since last Fall. Really last large inflow of real money ended last June... rising a little in August to net positive... but overall there is lots of real money leaving.
Very important to know, as these poker chips are excessive and a run on them will collapse the entire market... tether alone accounts of 80% of the liquidity of crypto in general and that of BTC.
And if you look a the peg rates on various exchanges with tether or circle you will see huge outflows and a diminishing struggle of buyers (yes these poker chips have to be sold to the open market to get your real money back, that's the insanity, they do not redeem tethers for dollars... USDC for now you can redeem on coinbase).
A beginning stage of a run on these poker chips is apparent.
Whatever you do... I would suggest not touch crypto.... allow it to crash... one way tether and circle have been able to keep their scam going for so long is that they have other crypto BTC and ETH and the like and will sell their holdings at spot for real money and use the real money to wash trade up the order books on the ask price to keep their $1 to poker chip peg. But when all of crypto falls, so does their collateral to keep wash trading and maintain this peg.
And crypto in general can't continue to pump up if real money inflows continue to vanish, and net real money outflows continues.
I foresee a sudden death in all of them, as they're so highly leveraged and interconnected.
And of course, you have all the relatively small scam coins built for rug pulls and built on the stupidity of NFT's and the like.
My advise: forget about crypto. Just let it vanquish on its own giant cluster mug of scams.
When it falls, and you'll know when this collapse has happened... BTC will be relatively worthless... then you can gamble and throw a few bucks hoping miners still exist and maintain the network integrity and don't allow 51% attack or endless hardforkings to occur rendering the block chain aka the coin worthless.
Be careful with crypto... it really is garbage... yes the scam has persisted for 15 years... but various times it buts and came back. But keep in mind, Madoff's scam lasted for 30 plus years, WorldCom and Enron lasted for about 15 years too. When the stuff is garbage and nobody wants it, and you decide to gamble on it, even then just throw so much money at it you are willing to lose completely. Because you probably will.
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