We are in a deep recession. That’s a fact. Anyone defending the Biden administration incompetence and the Inflation Acceleration Act is dumber than dirt.
Larry Summers said student debt cancellation is inflationary. Doesn’t matter, Biden Administration will pander for votes and it will happen around Labor Day.
Larry Summers said student debt cancellation is inflationary. Doesn’t matter, Biden Administration will pander for votes and it will happen around Labor Day.
Larry Summers is one of the dumbest people on the planet.
Questioned if women could do engineering and science in the year 2005.
You do not know if we are in a bear market or not at this time.
Only time will tell.
Therefore the statement that we are in a severe bear market is categorically false.
Having a nice day as one bet against NASDAQ I have made is up 4.72%.
By the way the NASDAQ is down more than 20%.
Which meets one definition of a bear market.
There are others.
Bear mar·ket /ˌber ˈmärkət/ noun 1.a market in which prices are falling, encouraging selling:"the Tokyo bear market has wiped $1,000 billion off shares"
A bear market describes a sustained period of time where stocks, securities, or assets continue to decrease. It’s a market condition where falling prices are caused by economic decline, consumer pessimism, and negative investor sentiment. A bear market is the opposite of a bull market, where prices are increasing. The term bear or down market is commonly associated with declining prices in stock markets. Still, it can also describe price fluctuations in other highly volatile sectors that are impacted by consumer confidence, such as bonds, real estate, or commodities like gold, oil, or gas.
Larry Summers said student debt cancellation is inflationary. Doesn’t matter, Biden Administration will pander for votes and it will happen around Labor Day.
My kid only has 5k in debt. Should we pull some more real quick?
Larry Summers said student debt cancellation is inflationary. Doesn’t matter, Biden Administration will pander for votes and it will happen around Labor Day.
My kid only has 5k in debt. Should we pull some more real quick?
Sure. Have your kid take a trip to an East Asian country and taste different culture's cuisine. That would be a learning experience.
But the article notes that he is doing it with the funds of the investment company he manages, Scion Asset Management, LLC. Not his private investments necessarily. So he may be taking a risky move with people's money who will very much need the money for retirement,
And here is the revealing part, at least for me. Money under management: $165 mil.
That is not very much. By comparison, all of Scions funds he manages are less than half of our dim-witted, perennial loser, John Hussman's Strategic Growth Fund. All of Scions funds put together are less than half of a single fund of Hussman's !
So, Burry has some notoriety based on a good call over ten years ago, but these are hardly the kind of assets that would impact the markets, even slightly. And his track record since then has been abysmal.
A one-trick pony desperately in search of a second act? You decide. But interesting that even after a morning dip, indices tracking positive (at the moment) for yet another day....
Burry is no one-trick pony. He pretty much shut down Scion to public investors due to all of the legal stuff thrown at him when he shorted the real estate market. Most of the money in Scion today is his own. Burry is a genius and his analysis is typically spot on (and not hindered by an emotional attachment to his money, which is the downfall of most). He made a ton of money during COVID (and I along with him by following his investing and rationale). He is not wrong about the brief bear market rally that appears to have run its course and he is likely right about what is coming. He sold it all and put a little into a private prison stock (GEO).
A good summary of where we stand on the Student Debt Repayment Relief being extended or Loan forgiveness being granted, from a reputable news source (The NY TImes), updated just a week ago. Still lots to be hashed out and finalized.
You pay your student debt before you buy a new iPhone or get a Netflix subscription or a Starbucks latte or a Tesla or roof solar panels or weed. Period the end.
You pay your student debt before you buy a new iPhone or get a Netflix subscription or a Starbucks latte or a Tesla or roof solar panels or weed. Period the end.
Better yet, go to college in Europe or Canada or anywhere but America and pay 1/5th the tuition you are charged here.
Their taxes go to education, not making bombs and wars
You pay your student debt before you buy a new iPhone or get a Netflix subscription or a Starbucks latte or a Tesla or roof solar panels or weed. Period the end.
Did you pay off all of your debt before making any additional purchases?