Any comment~?

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TI
Uber’s Top Secret “Hell” Program Exploited Lyft’s Vulnerability

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Comment on Izzie’s article
Some striking admissions about repo markets from the BIS

Banks favor repo because it’s incredibly cheap. Look at the chart above – how many places can you find funding at 0.5%? Banks could go to the markets for more stable funding through bonds or commercial paper, but they’d be paying much higher rates.

As usual, there is the official story, in this case about the cost of capital for banks and availability of short-term financing and so forth – and then there is the real story, which is that the big banks love leverage because it increases profits, and repo has been one of the cheapest sources of leverage for a long time now, and they’re not happy about the fact that it’s become less available, since that puts pressure on profits, particularly for securities dealers who routinely repo inventory for quick cheap financing.

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How would you describe this article in the Guardian~?

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  • Axionication3

    The Keen vid came across as very accurate.
    Not a clue what to make of the Guardian article. Seemed like a inside inside inside social comment.

  • CSArichardo

    Top Gear … I made it to 7 min because I thought something more was coming !? I gave up because cars, celebrity do not necessarily drive me. Other people probably “need more of it” ??

    The Keen VIDEO was focusing on logic and was short and to the point. Maybe being logical, short and to the point is what I prefer??

    Guardian article is taking a “jab” at deep englanders !! A touch of reverse psychology and treating other people in disrespect because they deeply feel their opinion is the only right way to look at life ??!!!

  • pw

    Kirsten seems very astute and immediate in thought!
    It is an illusive trait that I would very much like to have control of but sadly do not, cogitation is my given domain.

    Gardian is just propaganda aimed at shifting the more belligerent middle/upper class from “self assured” to a more “uncertain” standing on the (curious!) current mass migration.

    Steve Keyne describing the effect of commercialised education from an altruistic perspective.
    Humanitarian vs. Inhumanitarian systems in essence.

    • Dame Scott Thomas, I think `tries` to be honest (first) …

      It is a shame that `you do not have an `I` that could control things like that for you`.

      Do you mean that `the Guardian newspaper as-a-whole` is as you describe … or just that article~?
      (and … why might they be doing as you say~?)

      • pw

        For me the input has to rest for a while before coming to a conclusion on the output. The wife likens it to a long distance phone call. To be fair on myself i do most always have alot going on in cogitation department and a good speedy run at something (physical or mental ) results a marked improvement in response time. Not sure how the I helps as it tends to be the cogitator…. (depending on ur school of thought, i see a hybrid of kahneman).

        Not sure on the Guardian , i tend not to indulge in pop media other than drudgereport to keep a eye on the current meme’s. The whole migration thing appears to be coordinated in MSM all singing same song. From Merkels blanket invitation to the Brexit vote (standing gov call for exit vote and set bar at lowest level eg. 51%?).
        If its part of a wider obfuscation in response to the failure of the
        Economic system I can understand.

        • If I may … try to be helpful here –

          Please re-read what you wrote about the Guardian (article).
          See that it is a pile-of-poo … that, when you were asked to explain what you were talking about … could not, because it was a pile-of-poo.

          What I want to say here, is that the pile-of-poo was not `yours`.
          It was re-hashed poo that you have picked-up elsewhere.
          You said it (wrote it) but did not even understand the words (because they weren’t your words (weren’t you)).

          I would recommend that you `start again`.
          Go back to your beginning and start again as yourself.
          Drop all the poo you have picked up (that you don’t understand) … and go back to things that you do understand.

          What I am asking you to do is effectively impossible, because you would have to give up `most of yourself` and you will be too scared to do it.
          But it is the only way.

          At base … you are obviously a solid, caring person (or you would not have gone on this poo-gathering-exercise).
          You have to go back to that root. Back to what is `really you`.
          Drop all this shit that just confuses you and … on-one-hand makes you feel good, but on-the-other makes you feel like a fraud.

          Just go with what you really and honestly know to be true and right.
          Drop all the pretentious shite that other wobble-gobs come out with.
          Say what you feel … and say it in your own words.

          I can’t help thinking that your `cogitation` is taking so long, because you are struggling with excessive loads of other-people’s cast-off cack.

          • pw

            No poo this end. What I gave you there was my opinion, i havent seen any of this anywhere else!?

            It is my opinion that if a government that does not outwardly want to leave the EU then it would not:
            (A) hold a referendum in the first place.
            (B)set the bar any less than 60/40 to indicate a firm majority.
            (C)Allow an insider like that blond haired buffoon to effectively lead an opposition then make him Forign Secretary !

            These things oose subterfuge and I would have have sacked them at point (A)

            It also would have not called a Scotish deunification referendum out of the blue unless there was a clear benefit and for many of the same reasons. I suggest that it may have been called in advance of the Brexit referendum.

            Moreover for a leading light like Merkel to call forward all refugees is shouts EU subtext.

            Add that to the media meme and you have as close to using ones own intelligence as one would get.

            • pw

              And as importantly i am not suggesting I am right just this is the best point i can get to with obviously stinky information.

  • amoeba

    Keen is getting old.

    Here’s another on UK attitudes, with a huge comment section.

    https://www.ft.com/content/a9c45baa-1dc6-11e7-b7d3-163f5a7f229c

    Clarkson is a twat.

    • In short … The people of the UK have lost faith in the future.

      • amoeba

        100 years of decline from an empire to a bunch of inward looking little islanders.

        Wimpy leadership since Thatcher.

        Football teams full of foreign players.

        Industry owned by the Germans, Chinese and Indians.

        National policy “a caring nation”.

        Railways run by the French, Germans and Dutch.

        Scotland wants out.

        Southern Ireland is a Euroland.

        Are you from the UK? “No, I’m from Huddersfield” parochial attitudes.

        Not ony do they seem to have lost faith in the future, which presumably means no faith in the government to provide direction, they have completely lost the plot on how to succeed in a world when you can’t colonise and take, but have to excel and contribute.

        • pw

          In short people in the UK no longer identify with anything beyond their immediate social circle. Everything else is adversarial.

          • amoeba

            I am struggling to get a handle on it.

            There is a sense of hopelessness in the mix. A friend came to visit a couple of years ago, and we discussed the UK. He shrugged and said, “what can you do? What can you do?”

            I don’t think adversarial is quite correct, more, “that’s foreign and we don’t do foreign”.

            • pw

              There is going to be one big ugly falling out if those upstairs dont get it sorted out pronto.

              I had an indepth conversation with a Chicago Sheriff the other day. He is convinced the whole place is going down within the next 18mths ish. Too many individuals with no respect “as he put it”; racial, economic, and authoritarian tensions on overdrive in a well armed landmass.

              I can’t help thinking that this will unravel like a cascade in the way London/Manchester/Coventry did a few years ago.

        • … and why do they have these notions~?

          • amoeba

            Dunno really, I’ve not lived there for 32 years.

            Complacency?

            Any ideas, you have just had “boots on the ground”….

            Maybe they can stir up a skirmish over Gibralter. The Falklands did wonders for Thatcher.

            • These notions are the effects of causes.
              These effects pass quickly into being causes.

              If it is `complacency` then something has caused the complacency.

              Must zoom-out and try and see the flows.

              • amoeba

                As I said already, I am struggling to pinpoint it.

                There may be a dawning realisation that “Great Britain” and “United Kingdon” do not exist anymore.

                There is no “Great” and there is no “United”.

                The Brexit vote is the culmination of not knowing which road to take. We don’t want Europe and we don’t want Brexit.

                We don’t know what the fuck we want and there is nobody steering the boat. The Brexit negotiations are all negative. It is a two year plus deconstruction rather than progress and construction.

                • I still think you need to zoom-out … further.

                  Last 40 years … what have the major world changes been~?

        • Haploid

          Your totally right and I agree 100%. I ‘get over’ it by telling myself I could be a poor person in India or Russia or somewhere ‘like that’. I think looking at it in this way is best and try to distance yourself from as much of the ‘specialised services’ as possible. For example the NHS, or G.P.s I just don’t go near either because both are just utterly shite and incompetent.
          If you can look at it from this perspective as in think of the UK as the ‘sick man’ of EU then you’ll be OK psychologically. But its when you have great expectations that’s when things go downhill. The UK is not what it was and never will be ever again; its best to get used to this and just sort of trudge along and oh yeah have an exit plan ready for when things really go downhill here.

  • amoeba
      • CSArichardo

        Did she even answer the question ?

        In the last few seconds she says “Money does not cause inflation independent of the state of the economy.” I suppose that is the same as “Money can cause inflation but it’s dependent on the state of the economy.”

        My brain hurts.

        • amoeba

          Guess you never listened to her mentor, Greenspan. He was the master at obfuscation.

          She also omitted the inflation of asset prices.

          The question was way too easy, but maybe the questions were all prepared and screened before being permitted.

          I find Yellen a painful person to listen to.

        • I think what these people (economists etc.) do when interviewed … is to answer the question(ish) … but not for the asker of the question, or the audience … but for `their peers`.
          They are not interested in anyone but `their peers`.
          The answer would probably be perfectly understandable to the people she thinks `count`.

        • amoeba

          Guess you never watched her mentor, Greenspan, he was the master at obfuscation.

          She half answered the question, but did not comment on the inflation in asset prices.

          The question was also too trivial, so I suspect that all questions were carefully screened beforehand.

          • CSArichardo

            Agreed she really does not say inflation in what ! Houses, commodities, tulips, electricity rates, etc.

            What I think I know is that most of the money gets created by loans and demand for goods or services can generate demand for loans (money creation). They appear to go hand in hand ?

            It’s when supply of goods and services is relatively constrained (in regard to demand) and loan creation is not constrained that inflation in prices of goods and services happens ? Did I answer the question ??!!

            • amoeba

              Nope. This answers the question.

              “Money does not cause inflation independent of the state of the economy.”

              Which is a general case answer, saying that things in the economy have to be in certain states before the money supply will affect inflation.

              If loan creation is not constrained and there is a limited supply of goods, it does not mean that there will be an unsatiable demand from people to take out loans to buy the stuff in limited supply, pushing up its price.

              For example

              They may not want to take out (more) loans, even if the loans are on offer.

              They might think the price is too high already and buy something else.

              • CSArichardo

                Ouch … that economy has a mind of its own !!

  • Richard

    I’ve always liked Kristen Scott Thomas.
    Twice, I’ve driven through Paris and hated it both times.
    But, I’ve cycled around the Arc de Triomphe on a busy Saturday afternoon and loved it.
    Are you still angry with me?

    • Yes.
      Because you cannot be trusted.
      You will chat away nicely … until you `just have` to pour out some of your superior, pompous arsyness.
      You cannot be trusted.
      You can probably feel it rising in yourself now … You want to tell me that I am a superior pompous arse.
      Well … that is it. You cannot be trusted.

      For me … it is like having someone `unstable` in the conversation.
      You will pretend for a while that you are `just like everyone else` … then … you just can’t stop yourself … You just have to tell everyone how you have got things `all sorted out`.

      Well … as I said before.
      If you want to tell people how `sorted out` you have got things … please open your own blog and welcome people there.

      I could say … `you are welcome … as long as you behave yourself` but, you don’t understand what that means.
      Or … let me say … You don’t want to.

      Basically … there is only one person that is allowed to be a superior pompous arse around-here … and that is me.
      Those are the rules.
      You don’t like them, but still want to play using your own rules.

      No.
      Here there are my rules only.
      If you don’t like them … don’t play.

      And let me repeat.
      I know you don’t like them … and will try and kick them down one day.

      I would prefer that you did not try and bend yourself to my rules … You will only let both me (and yourself) down (again).

      So … angry does not really come into it.
      Disappointed yes, that you can’t see that you and the OTP comment-section are not compatible.
      I am happy, that you are so keen to comment.
      But sad, that you cannot see that `it is different here`.

      Bottom line:-
      Angry … No.
      But I am sure it is best that you do not comment again.

      • Richard

        That’s to bad.
        “…please open your own blog…”
        I planned to start one last summer (that’s when I bought the domain), but finally got started earlier this week. http://www.onlythepom.com

        • Axionication 3

          Will pop my head in from time to time. I would like to be interested in your thoughts (many here share a lot in common).

          Strictly in my opinion: you would be a powerfull resource if only you would be less ‘wound-up’ about yourself. I realy (selfishly) want you to ‘succeed’– you are very bright and have the potential to provide usefull insight.

          Good luck.

        • Haploid

          just saw your at present sparse blog and looks like an interesting read, I’ll be sure to follow it although I’ve made a ‘semi-vow of sorts’ to stay away from philosophical discussions of the Mystic kind, instead opting for econometrics. Keep up the good interesting reads though