38 Burst results for "Treasuries"
Fresh update on "treasuries" discussed on Bloomberg Daybreak Europe
"The equity markets we are seeing a sell off continuing in Asia today the MSC Irish Pacific index is down by 7 ten civil percent that index heading for its 7th straight week 7th straight weekly last suddenly the longest losing streak since 2015. European stocks futures though are positive the Sox 50 futures up by a quarter of 1% FTSE features up by a tenth of 1% both of those markets had seen a significant sell off yesterday though, so it would be just a small recovery. S&P E mini futures are flat. This arrow, the U.S. ten year treasury yield, 1.3 basis points lower at three spots 77 and oil prices trading flat this morning brand crew is trading at $88 and 51 cents. That's your Bloomberg radio business flash. Now let's get to boot back to Leigh Anne garon's for today's top stories, one of the other. I will start with more on the pound there, Steven, which is rallied back close to levels last seen before quasi quatre announced sweeping tax cuts just a
UK scraps corporate tax hike, lifts cap on banker bonuses
"The British government is scrapping a corporate tax hike and lifting the cap on bankers bonuses in a bid to boost a faltering economy Treasury chief kwasi Kwame has told lawmakers there are too many barriers for enterprise as he puts lower taxes top of the government's agenda In his mini budget that he was reversing a hike in national insurance taxes that was introduced by the previous government to help pay for health and social care He said the basic rate of income tax will fall from 20 to 19% next year The top rate will go from 45 to 40% in the House of Commons kwa Tang said we need a new approach for a new era focused on growth
Fresh update on "treasuries" discussed on Bloomberg Daybreak Europe
"Week by that budget here in the UK. The number of dollar spot index is two tenths of 1% weaker. The sale of an equities is continuing though the MSCI specific index is down by two thirds of 1% the nica in Tokyo Dan by 1.8% there Euro stock 50 futures are positive there of two tenths of 1% S&P imines are flat and the ten year treasury yield is two basis points lower at three spot 77. So to our top story, the pound has rallied back close to levels last seen before quasi quoting announced sweeping tax cuts a week ago. At one point in Asian trading earlier today, Sterling climbed as high as a dollar 12, the same level as before the market turmoil began. The Bank of England's bond purchases and the stabilization of gilt yields were a big factor in soothing fears, according to strategists, the Chancellor is defending his recent mini budget despite the turmoil unleashed in markets. What we are focusing on is delivering the growth plan and making sure with things like our energy intervention that people ride across this country are protected. And without growth
We've Got a Lot More Inflation Coming Our Way
"We've got a lot more inflation coming our way. So we've got a lousy economy. We've got a messed up border. You mean to tell me that the Democrats are going to get elected in the fall? You see, they want to do anything they can to distract from it, even having James diller. They're singing to have a inflation party. I mean, that's really what it was. And it was a party celebrating inflation because these guys are so out of touch with what everyday folks are experiencing that they're actually trying to say, hey, this is great. Things are going down. They're not going down. Anywhere's near what we actually need. The Federal Reserve knows that, which is why we're going to find out this week that rates are going up. I've said they ought to go up by a point. We ought to get at least 75 basis points in the market, market may have a tough time for it. Look, some of it could be baked in at this point. That's why you had a really treacherous week last week. I still think Moore's coming. And I think smart investors will start thinking about how they diversify right now, including into things like dividend stocks. I mean, hey, if things are going down, you might as well get paid a little interest, right? To hold a certain equity, so I like dividend stocks. I'm starting to really like treasuries. I told you this is just a couple of weeks ago because those yields are going up. They're looking at 3.4% now on the ten year, that's kind of good. And I expect that they're going to go up even more. So
Fresh update on "treasuries" discussed on Bloomberg Daybreak Asia
"And at Bloomberg quick take. This is a Bloomberg business lash. Just take a look at the prospects of the Asian trading day we have benchmark futures that are suggesting that we will be seeing some losses and Sydney Tokyo and Hong Kong and are already off the back of U.S. dogs having a bad day. In fact, seeing equities then benchmarks pledging to the lowest since November of 2020. It's all out of the fed again and another group of them striking a hawkish toad. We've got, of course, also the turmoil in Europe continued really to play on investors, nerves as it were. S&P 500 finishing the session there in the red by 2.1% and that really represented at one stage a 2.9% full, but it did manage to recover. Now the declines that we have, of course, wiped out the gains that we had on Wednesday and that was of course a rebound after the benchmark that had fallen for 6 straight days. Looking at, well, quarter and month end rebalancing and failed to really write to the rescue of those at U.S. stocks. We also had treasuries edging lower after Wednesday's roaring rally, and that took the dollar with them. And gave the Euro and Sterling a bit of relief though for the pound, it's likely to be short lived unless the British government can find some way to repair some of the damage. It is caused of late after putting accused essentially of a fiscal irresponsibility, right? That is a look at markets
"treasuries" Discussed on Techmeme Ride Home
"And so is your bet that the metaverse is going to be this interoperable thing and it's not going to be some platform that you have to play on that is owned by somebody else? Well, okay, that is I don't mean that you are a stupid asking this question, but I do think that's quite a stupid trend in the debate. I mean, the reality is we know how this stuff works, right? Which is that the Internet is the Internet because of the way that the protocols are structured. TCP IP, which is the protocol stack of the Internet. They are open architectures. So when they're set up, anyone can evolve them in specific ways. And this debate, I would say it's more or less a done debate, which is if you want openness built open protocols, if you don't, you don't, right? And so where I get very frustrated with people commentating on the large platforms is that rather than saying, let's in force a certain protocol discipline, which is exactly what happened in the early days of the Internet. John pause at staff, but basically said to the military, no, no, we don't want to use your protocol stack. We're going to use this protocol stack because it's inherently more open. I want the debate to be directed to governance bodies, which already exist yet, frankly, for Internet architecture to say everything should be protocol based. And so the point is to ask Facebook not to be Facebook, right? Ironically, what you get is if you ask the large platforms to be generous and open, you just kind of get stuck in their fucking giant more of them. Let me cut you off. Let me ask this a different way. Forget about whether they have the resources and they bludgeon everyone into their version of the metaverse. Because that didn't work for Bill Gates, who saw that what was coming next would be high bandwidth, high broadband, the Internet, as we know it today. Okay, but the reason that Bill Gates lost is because something else got popular faster. So what if let's get away from Facebook? What if the thing that becomes popular is like we see with Fortnite or we see with like Roblox or we see what if the platform, what is the thing that gets popular first that we would call the metaverse is owned and refuses to be interoperable. Do you have faith that it can go beyond that? There are two really profound things that get confused here, right? The fact that Facebook has let's say it's 3 billion monthly active users. It does not change the fact that if you want to build a social network for your Friends based on Wikipedia or any open-source technology, this is directly on open protocols on the Internet. You can do that. Facebook doesn't prevent you from communicating. This is why it's confusing. People seem to think that because these very massive long tail collectors, people that have collected the massive aggregation power of the social graph or whatever it may be, the search graph. But sometimes they control the Internet. No, they just control a lot of attention. And if you don't want to go that don't go there. It's genuinely very odd to me that we are saying because something's got very big people somehow sucked into it because either we believe that people have agency and capacity to engage in independently of those things, which technically they do. Or they don't. And so I'm a little bit kind of end running a question, which is I genuinely believe that with open protocols and human curiosity, we will continue to build good things and we'll continue to have a lot of free association. I think the correct way to answer your question is it good for society if the big companies make the big things and have so much resources and advertising firepower that they go even get sucked into it. I would say that is not a good thing. So that's the fact. But it also think that if you wanted to militate against it, you need a technical pathway for getting a solution because just screaming at them is not that solution and it's screaming at regulators to isn't that solution, right? So I'm very aware of the implication of your question, which is that it is not good for that to be far too much aggregation power in the hands of a few platform companies. I just think the way to get to an answer is not just scream at them and say, give us some power back somehow, whatever, how about that would work? It doesn't work. You need an actual pathway, and that's why I talk about protocols. So I do think the middle ground question here on middle ground answer is I do actually think. That whether it's crypto or something, I do actually think that open architectures tend to win in the end. It's not accidental but a lot of what Amazon and Google and Facebook build on are open architectures. They use tons of open-source software. They're all running on Linux boxes somewhere in the cloud or Unix. There's a lot of validation open up to textures when. Monetize that how to manipulate their monetization. Aggregate power is a subscription. But I would say when it comes to spatial tech, open architectures are probably going to win for all the same reasons they've always won in the past. Now that's maybe over optimistic in terms of the aggregate impacts, but if you want to talk about the aggregate impact, it has to be serious conversation about how you regulate that. And that probably isn't for this podcast. But just screaming at the large platform companies is fucking useless and I'm so done with it because no one gets any benefit from it. So what is what is the bet that you're making with treasury? And if you're talking about building things that are a better infrastructure that are more just or morally correct or even you've used the words a lot of times like just like better quality even so what is the bet that treasury is making and what are you building to get to what you've just described? I mean, so there's a number of bets. I mean, I'll start with a simple ones, right? I mean, the simple ones just in kind of like mechanical like opportunity are as I say the two primary tool pieces of the treasury kind of like tool set, a licensing thing, right?
"treasuries" Discussed on Techmeme Ride Home
"There's lots of times in society and particularly the process technology in which a lot of stuff that's going on is captured under a certain word because people like anything in a country of some people like simplistic narratives, but also I think the human mind does need some kind of narrative to encapsulate and to engage with complex forces as they play out. And so I think that the method verse as a word is probably about as useful as the phrase cyberspace was in the early or the late 90s and the early 2000s in the sense that it was a kind of catch all word that did crystallize some things, most of falsified a bunch of other things. And so with that caveat, I will continue to use the word metaverse, but what I really mean is the unfolding phenomenon beneath it. So this is the first thing is that I have some caution about you to the word metaverse. I don't really need to kind of justify those use of it. I'll just say it captures a certain trend or blend of phenomena. More specifically, to give you parts of what we call our spatial web thesis, which when you put in you put this in the show notes, but it is a technical extrapolation of what we think is going on. And I'll just go through it step by step. Because this is the kind of fundamental version of the answer to your question. I mean, I believe, and treasury is built on the idea that there is what we call a spatial tech convergence first point to that will lead to new infrastructure layers of the Internet. Let me unpack that a bit, right? Spatial technology is a variety of domains. An instructor had been very separate. So you might have, for example, geo is sensing tech. Satellites and land sonar and mapping and GIS and whatnot. And it's all classic stuff, right? You might use it to work out minds or to track to map the oceans and so forth. There's one area of spatial technology. In other aerospace technology is classic architecture tech, cad that's become bim and whatever tools are used in and then just type parametric design on top of that stuff. And so that's how the domain of spatial technology. There's another domain gaming technology, right? It actually is very different in its technical stack and its interfaces and its presumptions as a value model. Even though they end up creating environments, if you like, visualizing 3D environments, another domain especially technology would be sensing tech. So VR goggles or AR viewing systems, not the main especially tech would be capture system. So you've got LIDAR and you've got photogrammetry and you've got whatever else you got tons of different. And there's other domains, right? That's a solid 5 of them. Now, our view is that these technologies are converging into a kind of universal deployment capability of things that are spatialized. So sensing tech and scanning tech and visualization tech and design tech and render attacks. Are all going to fucking merge. Now, there's kind of on the cards if you spend a lot of time in this domain. So when you say, oh, you've not been in VR. The truth is that if you work in object architectural design and architecture tech, you are in VR, your permanently looking at VR rigs and AR rigs and thinking it's all shit and the clients don't want it. So you look at it and dump it basically. And that's why it looks like you're in it because you know it's not mature, but you can see it evolving step by step by step. And what we generally believe in particular is that architecture tech and game tech. In other words, building things by arbitrarily precise elements, which is how cad and bim works. And render tech, which you have like a texture or a mesh and a finished look and you actually have to build components into that. Those two in particular are going to merge. Now, all of that, right? That's a convergence piece. We think are going to end up as infrastructural layers in the evolved Internet. Just something you step back so you get a sense of how that might play out. When Google at the very end of the 90s was innovating in search, literally just kind of a year or two out of Stanford fucking dorm rooms. It wasn't just a breakthrough in some kind of search algorithm, right? Larry pages back rob algorithm, right? Which then became page rank. Wasn't the innovation alone that made Google possible. It was the fact that there was a very fast Internet and there was very cheap storage in those increasing very cheap memory that what happened is there's a convergence of infrastructural quality technologies in which one or two things suddenly could capture a value proposition and become very, very viable. So one of the things that defined Google search quite early on is they put all their search index in memory rather than on hard drives, which meant that when you searched for a result, the result came back wicked fast, where you couldn't do that unless infrastructure scale commodity memory was available to search as everywhere. And so the situation now for us is that we think, right? That the Internet, everything that is Internet enabled right now in commerce and culture and in policy and health is essentially going to get a spatial layer. And that is the same way. In an analogous way that everything in the Internet or in the digital realm got a search layer at the end of the 90s, right? There's going to be 3D content everyone. Now that is what we call the spatial web thesis is that there are many converging spatial texts that will be infrastructure class, and there will be part of everything. And so that is a nuance on what the metaverse will end up being. So we go back to the concept of the cyberspace. People said, in the basic in the 90s, oh, cyberspace is coming. We go to cyberspace, we get trapped there. People were spending too much time in this abstract world. Sounds rather like frankly when you go back to the old stupid quotes. Some people talk about the matter, but oh, we're going to get lost in beyond and so forth. Truth is, we never went to cyberspace. Cyberspace came to us. There was a bit of Internet in everything. That's the way it works out. So what happens is rather than the Internet being a thing you log into or you go to cyberspace, it's become a layer on top of the physical technical reality we're in the second half of the 20th century. Exactly the same is going to happen with this spatial layer. And so if you want to understand what the metaverse is, basically think about it like this, think of anything that has Internet right now and think of how some small piece of infrastructure quality 3D visualization is going to be in there. It doesn't need to be a lot. The thing is, if we take mapping, for example, like mapping is the first piece of the spatial tech convergence and infrastructural layering of the Internet. No one builds map products anymore. Why because mapping as an infrastructure or commodity. So you have a product, you're going to put mapping in it. Almost countless products now have some geopolitical mapping in them. Which is the first piece of validation I would say that a spatial layer on top of the conventional Internet is coming. We think there's going to be a lot more of it, a lot of it would be 3D, a lot of these very minimalistic rather than fully immersive, but that's our broad take on the metaverse. I don't know if that's coherent or satisfying, but it is something of what would motivate us. Well, it is, I mean, you got the history hat tingling with me by saying cyberspace because Shawnee cyberspace or the Internet as it was described to people in 1995 say people would ask, is it is it gaming? Is it communications? Is it commerce? And it ended up being sort of all of the above and even more that people didn't anticipate and even some things that people thought it would be it didn't end up being.
Inspector General Announces Audit of IRS Employees to Find Tax Cheats
"Just the news treasury inspector general launches on a virus employees cheating on their own taxes In 87,000 more coming imagine Inspector general for tax administration Jay Russell George will conduct the audit at the request of the Iowa Republican senator Joni Hurst according to the Washington times before Biden's army of auditors start harassing innocent taxpayers Let's first make sure the tax collectors have paid their own taxes So senator Ernst The mass order comes as the agency prepares to hire 87,000 agents And the Democrat every single Democrat voted for those 87,000 agents I'm waiting for Mitch McConnell to repeat something that I have encouraged the Republicans to say I heard Cruz say at the other night The Republicans should commit to getting rid of them To defunding them And you know what Mitch McConnell said mister producer Nothing
The Future of This Country Is Precarious at Best
"Future of this country, which any way you slice it really just continues to get more and more precarious and whether it's the words that we're hearing out of Joe Biden, which is setting the tone as we go into November or whether it's what we're hearing from the Federal Reserve and that they have to keep up in rates to deal with inflation, which is going to send us into a more challenging economic spot. I would be the first to tell you, I don't think they have a choice at this point. Because they screwed up way back when, going back as far as two years ago, frankly, when they shouldn't have been printing as much when the administration was handing out stimulus checks. I mean, you just can't do that and not expect there to be some kind of consequence. It's the reason why I'm worried about the market right now. On the bright side on the bright side, hey, you know, for savers, you might actually have a shot at getting some kind of interest rate on your CD or your treasuries. I mean, hey, who would have thought? Anyway, there are a lot of challenges ahead and I suspect as we go into November right now. The Democrats do not really have a pitch. You'd want to be able to say, hey, you know, the economy's doing great. This, that, the other, they don't have a pitch. And so what they're going to continue is the narrative that you saw the other night, and somehow conservatives are dangerous. And I think a lot of conservatives feel very strongly that they're dangerous because of what they're saying. It's like we're doubling down on all the danger guys. You know what? You got to stop it. We've got to be able to have an actual civil dialog. And yet, you know, it makes me think that we're broken. We're just utterly broken as a society because you have politicians so desperate to get reelected. There's so much riding on it, and they don't care. I mean, they only care about themselves. They don't really care about the country. Let's be honest. They care about their tweets. They care about their 27 characters that are going to just be explosive enough to get their message across and get enough excitement. They're trying to get the base involved. That's what, that's what the other night was really about.
Britain to learn who will succeed Johnson as prime minister
"Britain's Conservative Party has chosen foreign secretary Liz truss as the party's new leader putting her in line to be confirmed as prime minister The party's new need at Liz truss vows fast action on key issues I will deliver a bold plan to cut taxes and grow our economy I will deliver on the energy crisis dealing with people's energy bills but also dealing with the long-term issues we have on energy supply Trust beat rival Rishi sunak the government's former treasury chief by promising to increase defense spending and cut taxes while refusing to
Tea Party Targeter Tasked to Create IRS Office Overseeing New Agents
"From PJ media Athena Thorne Obama era Tea Party targeter Appointed to create IRS office overseeing 87,000 new agents Nicole flax worked under Lois learner the Obama administration IRS While the agency infamously targeted conservative political organizations such as the Tea Party By slow walking and suppressing their tax exempt applications You know how we first learned about this mister producer He came over the transmit landmark legal foundation when I was president there Remember that Somebody said look at what they're doing The IRS is sending to us so we immediately filed papers with the inspector general the Treasury Department the commissioner the IRS the secretary treasury And how blow this thing wide open She was also one of 7 executive whose hard drives mysteriously self destructed Preventing house investigators from viewing her emails Now the career IRS executive has been tapped to establish a new centralized office in charge of implementing the Democrats latest tax and spending bill including oversight of the 87,000 new IRS agents that Bill authorizes IRS commissioner Charles Reddick sent an agency wide email on August 19 writing This is a historic time for the IRS We're working to move quickly to begin work on the inflation reduction act signed into law earlier this week He then announced the new department A key part of our efforts will be the creation of a new centralized office for implementation of all IRS related provisions Building up our successes implementing other major legislative bills
Democrats and the Student Loan Giveaway
"The Biden administration student alone debt cancellation plan may cost more than $1 trillion according to the analysis from the University of Pennsylvania's Penn Wharton budget model. The largest potential cost driver ped Wharton identified is the Biden administration's new income driven, repayment plan, which includes capping monthly student loan payments at 5% of a borrower's discretionary income. And reforming the repayment guidelines to guarantee that no borrower who makes quote about the annual equivalent of a $15 minimum wage will have to make monthly loan payments. That cancellation alone will cost the United States up to $519 billion. Wharton found in an analysis published Friday. Loan forbearance which allows borrowers to temporarily stop paying will cost an estimated $16 billion. The income driven repayment plan will initially cost $70 billion. But specific. Specific details have yet to be released. Finally, the report comes as the United States national debt is already more than $30.8 trillion. According to the treasury.
U.S. Braces for Jerome Powell's Speech Tomorrow
"To look at that purchasing power of the U.S. dollar which has been dwindling. Even without the 9.1 and what is it 8 point something percent inflation? It has been dwindling over the years and a lot of people do not think I'm one of them that the fed is going to be able to bring this under control. We of course will find out tomorrow because Jerome Paul is going to be speaking out there the shindig. This is like, this is the Emmys or the Oscars, if you would, and fed world, and Jean-Paul has this big speech. He's just screwed up over and over again, and I have absolutely no faith in the guy. I mean, I'm disappointed, highly disappointed in him. I thought he would have done a whole lot better. He did have a little bit real world experience, so I thought, okay, great. At least you don't have a total academic in there. But maybe he's just influenced too much by his old boss. That would be Janet Yellen, who was an academic, total academic, and a bureaucrat. And is now our treasury secretary. And sat there with a straight face and told us the inflation was just transitory. I'm sorry. I'm sorry. So now the Federal Reserve is trying to get into control and Joe Biden is fighting them at this game because he is going to add, I got the numbers here for you. These are independent estimates. Suggesting that this plan is going to cost $300 billion over ten years time. And that will add to the federal deficit. That means we've got more long-term problems, but nobody cares, right? For Joe Biden and for the Democrats, you just push that can down their kick the can down the road. Kick it a little more. Let it be somebody else's problem. All you need to worry about is getting elected again, right?
Biden Signs Bill Allowing Camp Lejeune Lawsuits to Be Filed
"Now the federal government has apparently passed a bill that funds an enormous amount of money for victims of drinking water I think a camp lejeune some 30 40 years ago Have you been seeing these commercials mister producer Everywhere you see the slip and fall lawyers don't you Here's the little dirty secret I talked about the teachers union I talked about the IRS and Treasury Department union The massive amounts of your money that flows into the Democrat party you pay all these salaries The slip and fall lawyers and the teachers unions are the two biggest donors to the Democrat party The two biggest So the Democrat parties like a mob operation it takes money off the top because it knows that it's going to get all kinds of massive dark money from the trial lawyers Have you noticed they never target the trial lawyers When's the last hearing on trial lawyers in their 35 40% cash grabs and class action suits Have you seen those There aren't any Or the hearings on the price of colleges and universities He's seen those No In other words they protect theirs How about the abuses of public sector unions I know they want to attack the cops and the I'm not talking about that I'm talking about the paper pushers The massive federal bureaucracy when's the last time they held a hearing on that the Democrat They never do It's another donor base So they create these donor bases
How to Help Small Businesses Under Biden With Blaine Luetkemeyer
"Things that I think is interesting coming out of this is there's this discussion about all these job growth and everything over the last year. You hit on it with the small business. I've been very frustrated when the Biden administration talks about how many jobs they've created. And the reality of it is most of it was coming back either from being stopped or delayed during COVID. And the reality is our small businesses are just getting back to try and where they were because of COVID more than anything that the Biden administration in particular has done. Yeah, there's a number of things in your comment there. You know, the Biden administration says they've created all these jobs. Quite frankly, they haven't created one single new job. Doug. If you look at the number of jobs that were in our economy, part of the pandemic were still over half a million jobs short of where we were private pandemic. So this administration still hasn't caught up. To where we were prior to the pandemic. So they haven't created one new job. From standpoint of the things that have been helpful to small business keeping business. That was a PPP program. That was a hugely successful program. It was actually a treasury program that was put together by treasury. It took an SBA program, the 7 a program, and turned it into the PPP program, and oversaw that within a small business administration being an administrator of the program. And as we've gone through the process, it's a very highly successful. There was a there's been some fraud in it, but minimal fraud compared to the problems that we have with other SBA programs. And most of the fraud was actually centered in FinTech companies. It wasn't banks and credit unions. It was FinTech companies. And that's primarily centered in about half a dozen different companies. So we've got it narrowed down to know exactly what the problem was and who did it.
Congress can get Trump tax records, appeals court rules
"I'm Mike Gracia reporting an appeals court rules Congress can get former president Trump's tax records A federal appeals court has agreed with the lower court ruling saying Congress can access former president Donald Trump's tax returns a three judge panel of the U.S. Court of Appeals for the District of Columbia circuit agreed with U.S. district judge Trevor mcfadin a Trump appointee who in a December ruling said the chairman of the House ways and means committee has brought authority to request the records The House ways and means panel first requested Trump's tax returns in 2019 Under the Trump administration the Justice Department defended the decision by then treasury secretary Steven Mnuchin to withhold the tax returns from Congress Mnuchin argued the records were being sought by Democrats for partisan reasons Mike Gracia Washington
Paul Manafort Admits Everything Was a Lie
"Paul Manafort finally made his first public emission he shared polling data with konstantin kilimnik. He says the purpose of sharing the data was not to get Trump elected to make money for himself. They're all the same. I mean, it was both actually, but he said it passed the data to Russian spies, according to the US Treasury Department, which was characterized the data as sensitive information on polling and campaign strategy, a Manafort acknowledgment contradicts his earlier denials during obviously the Mueller investigation that he had anything to do with the transfer sensitive campaign data. It also differs from the account he gives in his memoir, which he concedes only that he presented limnic with talking points on polling data that was already public. The data I shared with him, he said, was a combination of public information and stuff that was old. It was one of his primary lines of defense the data he funneled to kilimnik was essentially worthless. Contrary to Manafort's claim, the data was not from the spring. It was collected in mid July 2 weeks before the meeting with kilimnik. So what we already knew has now been proven everything he said was a lie.
Biden Is Wrong About Inflation Bill
"Joe Biden went on in that White House zoom. I mean, I hope the guy recovers quickly. He looks awful. He's in week two of COVID. Cut number two. Let me be clear. Despite what some folks are saying. The inflation reduction act makes sure that no one earning less than $400,000 a year will pay a penny more in federal taxes, notwithstanding all these ads you can't television. But don't take my word for it. Nearly 130 economists, 7 Nobel laureates and economics, former former treasury secretaries, the Federal Reserve vice chair, former director of the congressional budget office. Wrote that this bill will quote fight inflation of lower cost for American families while setting the stage for strong, stable, and broadly shared long-term economic growth. This is absurd, and by the way, remember all those same economists said, we wouldn't have anything. We wouldn't have inflation that it would be transitory than it wouldn't be so long and it would depend upon supply chain.
U.S. Treasury Secretary says while economy is slowing, labor market is still strong.
"Treasury secretary Janet Yellen says the U.S. is better positioned than in the past as recessionary pressures flare I'm Lisa dwyer with the latest During a press breathing treasury secretary Janet Yellen emphasized that the U.S. economy while slowing has more resiliency than in past downturns She highlighted the strong labor market We need to see a slowdown in growth We are seeing that I do believe there is a path by which we maintain a strong labor market Gillen says that high prices are a top priority for the Biden administration The biggest burden that's weighing on negatively on household sentiment is inflation Young said that while there are positives about the U.S. economy along with inflation there are still headwinds at play largely due to Russia's invasion of Ukraine and the slowdown in the global supply chain I'm Lisa dwyer
Biden Advisors, Other Democrats in Complete Denial of a Recession
"This is so hysterical from Arabian. I got to play this for you. This is a whole bunch of the usual suspects Powell and yelling and deese and Jean Pierre. This is a Montage from graben of Biden advisers, prominent Democrats, the treasury secretary and others. Check this out. All signs are that this is a strong economy and the probability of a recession within the next year is not particularly elevated. It's a strong economy. And nothing about it suggests that it's that it's close to or vulnerable to a recession. I don't expect a recession. No one is predicting every session now. We are not expecting that we are already in the recession. In fact, the guts and the bones of this economy remain strong. These are not the marks of an economy in recession. Right now, we don't see a recession right now. That is not we're not in a recession right now. This is not an economy that's in recession. Not only is a recession not inevitable, but I think that a lot of people are underestimating those strengths and the resilience of the American economy. We have a strong labor market, which you don't normally see in a recession. A recession is broad based weakness in the economy. We're not seeing that now. In your view is a recession in the United States inevitable. No. Typically economists data recession as being at least two quarters of negative growth and other and other factors, which we have not seen at all. The idea that two quarters of negative GDP growth is a technical definition of a recession is wrong. A common definition of recession is too negative quarters of GDP growth. Two quarters of negative growth in a row, that's a recession. Right, and certainly the in terms of the technical definition, it's not a recession, the technical definition considers a much broader spectrum of data points. What is exactly The White House is definition of a recession. Again, we don't we don't I'm not going to define it from here.
Andy Puzder Explains How Biden Caused the Inflation Crisis
"Andy, last night, Lee and Garrett and yesterday, Dwayne and I were coming back from lunch and then Uber, driven by Ali. And all he's a great black guy who is getting on my case. He's seen me on MSNBC and NBC, and I don't think he watches Fox. And all he says, do you really think Joe Biden causes inflation? I said, they spent $2 trillion that we didn't need to spend. Of course they did. And then they added on the infrastructure Bill. Of course they caused inflation. I don't know who they want to blame Putin. What do you think of that argument? Well, the argument that Biden didn't cause this is ridiculous. Larry summers came out, who was the Larry summers isn't like some far right Republican. You know, he's not going to be having lunch with you and Andy. This is a guy from Harvard who was secretary of treasury under Clinton. He ran the council of economic advisers for president Obama. He came out before they passed this $1.9 trillion bill and said, do not pass this bill. He came out in The Washington Post with an article that said, this will ignite inflation. You're going to end up with hyperinflation if you pass that. They pass it, and it ignited hyperinflation. Jason fuhrman, another leftist economist, said the same thing. Steve ratner, who was an Obama economist, said the same thing. Do not do not do this spending bill. They did it anyway. It ignited inflation, and it caused the current problems we're having. You know, look, if demand is way up and the fed's trying to bring demand down, don't spend money. What you could do, what you couldn't do to support the fed's efforts is try and increase supply. Because if supply and demand meet, it doesn't matter how high demand is. If we have enough supply to meet it, there's no inflation. That was the case under president Trump. Plenty of supply, plenty of demand. Now we've got this excessive demand and limited supply. Encourage the supply side. Reduce regulation. So businesses want to produce. This is the key to the key.
Democrat Presidents Who Used Government Resources on Their Opponents
"What would you say if a president of the United States told the Internal Revenue Service the commissioner And the secretary of treasury To investigate a political opponent within the Democrat party A senator from Louisiana who'd been the governor of Louisiana Because his populist views were concerning him and he was running to the left of FDR and picking up a lot of support That's what FDR did to Huey long But Huey long was assassinated Before the IRS could charge him with anything What would you say if a president of the United States Had put a person over at the Internal Revenue Service Put his brother as attorney general of the United States And directed that they collect all the information they could on conservative organizations a handful of That were criticizing him His faith And threatening to expose certain of his infidelity And then those organizations faced internal revenue scrutiny Well that's what John Kennedy did
Why Is Janet Yellen Suddenly Debating the Definition of a Recession?
"To pull out my econ one O one textbook? My uncle wrote one, by the way. I should pull this out. We'll see, that's tomorrow show. I promise you I'll bring the textbook on there. Well, the definition of a recession is, well, the classic definition, the textbook definition, Janet Yellen. You should know this happens to be two consecutive quarters of negative growth. All right? So I'm pretty darn sure, given what we're seeing already from corporations, right? Facebook has been so pessimistic, apple is so pessimistic. You had Walmart now saying, inflation is going to hurt earnings. Given all that pessimism, they're telling us exactly what we need to know. Not to mention the downside in the market, the official bear market territory that we've now come into in 2022, they're all telling us that the economy is hurting. I do believe this is going to be a negative quarter of growth. You've heard me. I said this months ago, and yet again, our treasury secretary, and I'm not going to bore you with the clip. I promise you, I won't do that. I watched the whole thing. So she was on with chuck Todd on NBC, meet the press over the weekend, and to his credit, he tried to push her a little bit on this. You know, we got 9.1% inflation and that's eating into any possible wage gains and people are upset. In fact, there's a quinnipiac poll. Showing that Joe Biden's approval rating on the economic front is just a 28%. That's pretty bad. I mean, that's really bad, really lousy. And Janet Yellen spoke in circles. It reminded me of Bernanke, actually no better yet. It reminded me of Greenspan in some ways, right? Because that was like watching paint dry. And the producers, I'm sure we're in the control group going, oh my God, chuck, please. Get her off. It was just really terribly boring, which irritates me because you know what? Our economy is darn exciting. And if she chooses to make it so boring, I think it's a part because she's trying to talk over people's heads. No, no, no, chuck, you don't know what the classic definition of recession really is. You're wrong on that. You know, we have to wait for the national economic bureau to come out of research and they'll tell us a year after the fact the good news about those guys is by the time they figure it out, we're usually out of a recession.
"treasuries" Discussed on Bloomberg Radio New York
"Treasuries on the longer end of the curve If that fund goes higher than we think you can have some serious inversion I mean you could have inversion that I think people are really not talking about Whether it loses its signal at that point because of idiosyncratic supply and demand forces in terms of telling us what that means for the economy I'm not convinced that that's going to be the case necessarily But keep your eye on that longer end of the curve I'm not sure it's going to follow the fed funds with time There was concern in the news conference about international economies And the stronger dollar That's the question that's the point I was about to make The really big fault lines the fit matters a lot but there are two other immense fault lines in the global economy both of which are affected negatively by a strong dollar One is the Eurozone where very unfortunately the ECB still hasn't managed to convince markets for much the same structural problems that created the crisis of a decade ago that it's going to be able to keep the Eurozone together asset raises rates and more pressure on the Euro makes that all the worse And then in Japan you've had the yen breaking through some very significant one 35 Yes And also 20 to the Chinese yuan which is only the second time it's got there The first time was followed within days by the shocking Chinese yuan's evaluation of 2015 that then caused a sort of mini global crisis for a few months So there is also a very important element of tension where if the Japanese want to keep controlling the yield curve that will mean the stays ever more artificially weak And that is going to be a real problem for its neighbor China So that's the other fault line that it's very difficult to avoid John author is a near case.
"treasuries" Discussed on Bloomberg Radio New York
"Treasuries have been dropping in price U.S. yields at one spot 9 3% for ten year benchmark yields ECB has its first decision now since the war started at what will they do Will it be a wait and see moment for the ECB as they stare at rising inflation but worries around growth U.S. CPI expected to come in at nearly 8% Also the dollar is stronger this morning recouping some of Wednesday's losses That has it been a big radio business flash Now here's the anger and with today's top stories good morning Caroline good morning and thank you Ukraine says it is open to discussing Russia's demand of neutrality as long as it is given security guarantees although it won't surrender any territory to Moscow Speaking to Bloomberg a top foreign policy aide to president Vladimir zelensky laid out Ukraine's preconditions for talks with an immediate ceasefire and the withdrawal of Russian troops as a top priority The country's willingness to compromise comes after a children's hospital and maternity ward where targeted in a Russian air strike in marry a poll in the south yesterday Now crude prices slumped after the UAE said it will call on fallow OPEC plus members to boost oil as output faster in a dramatic U turn that could set the country against other members of the alliance led by Saudi Arabia and Russia The gulf nation says it favors production increases a few hours later the UAE energy minister appeared to temper the message saying it's committed to the current OPEC plus agreement And the U.S. House has passed a long delayed $1.5 trillion spending bill that funds a U.S. government for the rest of the fiscal year The bill also provides more than $13 billion to respond to Russia's invasion of Ukraine The late night vote followed a day of political drama that saw emergency coronavirus funding removed from the measure Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries and leann gerrans this is Bloomberg Caroline Thank you so much Leigh Anne garen Let's pick up then on that story focus on the humanitarian and security aid now being approved and reaching Ukraine with both Tom Mackenzie is at the Ukraine border crossing at medica in Poland Tom thank you for being with us So this is a rare bit of unity for the U.S. Congress it would seem the house approving this bill big sum to help you crane Yeah as Leon was saying 13 and a half billion 13.6 billion U.S. dollars part of that will be channeled towards the refugees that continue to cross the border and we're seeing that this morning And in front of me now mothers and children walking past us just next to the pedestrian crossing at the border between Poland and Ukraine Some of that will go towards reconstruction as well and we continue of course to see that heavy bombardment particularly around the port city of Mario where the situation has been described as desperate by Ukrainian officials and of course Keith continues to face attacks as well from Russia So it's important funding channels from the U.S. of course And it follows the European Union agreeing around €1.2 billion of aid and the Ukrainian segment they expect the first tranche of that about €300 million to come through next week We also have the IMF and this of course is on the macroeconomic front agreeing to additional aid of 1.2 billion U.S. dollars for 1.4 billion I should say U.S. dollars for the macroeconomy of Ukraine So the fund and channels seem to be being opened up from the U.S. from the IMF and from the EU but of course the need is desperately acute Yeah European leaders also begin a two day summit in Versailles This will be top of the agenda There is also the inclination of the U.S. to impose more sanctions against Russia So what is the kind of political mood then to try to deal with this terrible problem Well we know as well that the U.S. Secretary of State and chief thinking is going to be meeting with the Ukrainian foreign minister or at least talking with the Ukrainian foreign minister about what additional security measures the U.S. can provide and discussing humanitarian aid as well We know that there's been a bit of a dispute between the Polish government the polls and the Americans over what to do with the Polish MiG fighter jets The Polish government has suggested that they hand those over to the U.S. and then the U.S. could deploy those somehow get them across the border into Ukraine The U.S. has come out very strongly as that that's not going to happen It's not practical intelligence agencies in the United States concern that that could be seen as a provocation by the Russian president Vladimir Putin So the discussions around additional security aid on top of the humanitarian aid that we've been talking about clearly continue Okay Yeah And I'm just looking at Gordon Brown's piece on the Bloomberg terminal this morning talking about Vladimir Putin must answer for his war crimes in Ukraine This is the former British prime minister Gordon Brown saying that the list the catalog of Putin's atrocities only grows What is the feeling of people now Is the mood changing on that border that where you are It's somber It's shell shocked I'm watching right now we are in the comfort of a heated car as we have this interview but outside our women and children who have spent the night in tents Sometimes having spent three or four days trying to cross over from Ukraine who are now working out what their next steps are There's a bit of an ad hoc operation on the ground here volunteers all over Europe and deep in the U.S. and Israel as well that we've been speaking to have come to try and assist It is not as well coordinated as it could be and for many people they're trying to work out the next steps but certainly the sentiment I'm getting is shell shocked and of course saddened to have left family and many of them many of the women here leaving male partners.
"treasuries" Discussed on Bloomberg Radio New York
"Of nervousness over the economic risks from the omicron virus strain and also looking at Central Bank meetings this week in particular some of those that we'll be looking to target inflation like the Federal Reserve treasuries and the dollar held on to gains and so we've got shares at the moment trending down the nikkei now down about two tenths of a percent the SX 200 off about a quarter of a percent We've been trading lower in Seoul all morning down about four tenths of one percentage of Chinese equity traded in the U.S. live the most since December And as that golden dragon index down 3.6% there was that Chinese property developer that had a sudden plunge yesterday Sure Mao group And both its bonds and shares sold off a bit and that makes people uncomfortable that there are more developers out there more property developers that may have some trouble meeting their debt obligations China Mobile is a big telecoms play had his full year net income out a ¥114.3 billion that was little under the one 16.4 estimate We had a sell off in Bitcoin overnight but were rebounding a little this morning up about 6 tenths of percent in the Asia Pacific 47,115 And here's something we didn't spend too much time on India's retail inflation was up close to 5% in November but that was slower than the median estimate for a 5.1% gain And that is check of markets Let's get to the top news stories making headlines with Edward Baxter and San Francisco and thank you Brian U.S. House and Senate reportedly close to agreement on legislation aimed at punishing China for alleged Xinjiang Uyghur oppression Biden.
"treasuries" Discussed on Software Engineering Daily
"I'm Christopher dean. I have cofounder. And back to CEO for my company treasury prime, which is a startup in San Francisco, four years old. And you know, my backstory here is that, you know, back in the day, I was a machine learning researcher happily in academia and family reasons. We moved up to San Francisco and you know I got sucked in by all the startups. And I've been doing that for 20 odd years now. And you know, I've seen all the things from the wild success and we sold the company for a lot of money, you know, and that was great to the chairs being thrown across the room when people, you know, and conference rooms. I've seen everything, and I'm really happy to be at treasury prime where things are going great, but we're also going to all reasonable people, which I like. What is treasury prime do? So I used to be run with FinTech group at Silicon Valley bank, which is kind of like which while it is. But the main bank that most startups use, you know, so that's where I would go before I do the right back right now. And when I was running the FinTech group because it bought our previous company. And I realized Gemini realized my cofounder that there is this is interesting problem that so many corporations, technology companies and fintechs want to access the U.S. banking system. And the banks want to help them, but they don't know how and what treasury prime does is we're a bridge between these two worlds. We have both fintechs as clients and banks, clients, and we provide an API to connect the two. We're pretty nerdy product internally, we think of ourselves as an API first product. We don't build anything unless we get an API around it. And you can do everything that a bank can do. And in fact, we run deposit operations for many of our banks. You want to open a bank account. We can do that. What kind of any kind? Commercial retail, trust whatever you want. We can open it. Do you want to send money around, wires, ACH? We can do that. Do you want to issue cards? Do you want to do Bill pay? Oh my gosh, do you want to deal with paper checks? You know, I'll tell you, please don't, but yeah, we can do that too. So we can do all those things. And I think the central insight we have is that the bank is still an important player here because they hold most of the economic reigns and that it's useful to have both the bank and a technology partner for the FinTech and for the corporate clients. We have more API clients. And we're that bridge. And that's the insight we have. We have a banking network of double digit banks, you know, to say that. And that works great for us. They can choose who the best fintechs are for the best banks. And that ends up being a long-term fruitful relationship for everybody. Could we zoom in on one of those use cases like opening an account? I could see where if the bank itself was your client, maybe you would help them give a functionality to open an account for a customer. What sort of end user outside of a bank would want to open a bank account for their software's user? Yeah, it's interesting. This is kind of the aha moment for treasury prime back before there was even a treasury prime. Is that the software that a bank wants to use in the software that a FinTech wants to use is actually the same software. It just slightly different use cases. So the easiest example for opening a bank account is I want to provide banking services to my end users. And there's Neil banks, which you do this right now. In the U.S., it's actually hard to become an officially chartered bank. But still there are a lot.
"treasuries" Discussed on CNBC's Fast Money
"And and group to stop providing. Some of those crypto services. And it's not just regulation out of beijing spooky. Some of these investors are worried about increased. Scrutiny from the sec and some comments from gary gansler sec chairman about more oversight of the industry. This week back to you all right. Kate thanks kate rooney To go to the bitcoin baller here on this one beak sand You know you are contrarian and when this news came out you said you know what. This could be great news. Why is that give you three reasons why it's great news. I of one. The easy one is. China isn't as big a market as it has been i has. It's not really even a driver of the market today. So this is that doesn't really matter. Number two is that this news has been out there for a while. If you actually look at the released. Today it was dated september fifteenth. So this news has been in the market but the third and probably most important reason. I brought along a chart done by my friends at john. Street capital shows how. Bitcoin performed after every single time. China has banned it and look at that first date back there. That's december two thousand thirteen. And i'm sure you remember melissa that i had called into fast eight on that date to talk about the banning of bitcoin in china. And look what's happened since then. It's up thirty six hundred percent so when china bans. Bitcoin and the price goes down to me. That's a massive opportunity because it has had zero impact on the price of bitcoin and china just doesn't even a big market. So what are you doing today yesterday. All listen i'm long and strong. You know i am long. Strike came into the day long and strong. I and i would buy more here if i had more cash. Have you been adding to theory. Tim on the back of this news. I've been watching it. I think the levels around three thousand are important. They're like. Brian has talked about the opportunities. All pullbacks really they largely have in the theorems case. You've had in the last six months. Only we know that there has been on a great run but in the last six months it said three draw down to thirty five percent or more one sixty one forty five and yet it's still up eighty percents. So yes. I am buying weakness. I think there are levels probably around here where we look like we may be holding but i think that's that is kind of the message. I'm hearing he. You know the interesting thing. Is i think better than anybody. The bitcoin involved baller knows this. But sorry about my voice but seventy percent of the global mining has been done by china in the past. Now they're under thirty percent so that's a big difference mellon i think that's why i feel a lot more comfortable about whatever china's decisions going forward. They are not as meaningful as they once work. And because of that. That's why i totally agree with pk. And john was talking about too. That's why it's not as negative at least in the longer term short term sherve longer term. Absolutely not at next are revealing.
"treasuries" Discussed on Bloomberg Radio New York
"Treasuries rallied, the dollar goes down, and stocks are mostly lower after less than forecast increasing inflation was seen as giving Ben officials more flexibility. When it comes to pulling back stimulus, the S and P is down 3/10 of a percent now down 14. The Dow is down 6/10 of a percent down 208 and the NASDAQ is down to 10% down 23. The 10 year is currently up. 18 30 seconds with the yield of 1.26%, West Texas Intermediate create crude is off earlier highs up a quarter of a percent. Now at 70 62 a barrel Connection. Gold is up 8/10 of a percent at 18 08 18 ounce The dollar yen 1967 the euro dollar 18 19, the British found a dollar 38 54 House Democrats are considering a two year repeal as one of their potential paths to undoing the $10,000 capital. Federal deduction for state and local taxes, Senator Senior Ways and Means Committee Democrat Bill Pascrell of New Jersey, says the temporary rollback is one of the main considerations before the Democratic caucus. Now that is a Bloomberg business Flash. I'm Greg Jarrett. This is the big take the best of Bloomberg's original reporting from around the globe. Well, we actually make sure we do you as the economy recovers is look at the data kind of broken down of it is becoming more and more expensive. Looking into $15 billion for the entry level. There have been waves of immigration that have faced a lot of resistance. A lot of color behind the scenes in a great untold story. How did Bezos really come out on top? As the cover? Says Jeff wins, he always seems to win. The big Take on Bloomberg Radio. Alright, Matt. When I read today's big take story, which I do every day, I just said as I'm reading it, Boy, This is a HBO Max or Netflix kind of Movie in the making. Just start with the headline Glencore, Trader turns on colleagues.
"treasuries" Discussed on Harvard Classics
"The same word is used in writing the wind blow with where it lists and in writing so is everyone that is born of the spirit born of the breath that is for it means the breath of god in soul and body. We have the true sensitive in our words. Inspiration and expire now. There are two kinds of breath which the flock may be filled. God's breath and man's the breath of god is health and life and peace to them as the air of heaven is to the flocks on the hills but man's breath the word which he calls spiritual is disease and contagion to them. As the fog of fen they rocked inwardly with it. They are puffed up by it as a dead body by the bay of its own decomposition. This is literally true. All false religious teaching the first and last and fatalist sign of it. Is that puffing up your converted children who teach their parents your converted convicts who teach honest men your converted dunces who having lived in Stupa fixation half their lives. Suddenly awaking to the fact there being a god fancy themselves therefore his peculiar people and messengers your sectarian of every species small and great catholic or protestant of high church or low in so far as they think themselves exclusively in the right and others wrong and preeminently every sect those who hold that men can be raved by thinking rightly instead of doing rightly by word instead of act and wish instead of work. These are the true fog. Children clouds these without water bodies these of petrous and vapor and skin without blood or flash blown bagpipes for the fiends to pipe with corrupt and corrupting swollen with wind. And the rank missed. They draw leslie. Let us return to the lines. Respecting the power of the keys for now we can understand them. Note the difference between milton and dante and their interpretation of this power for once the latter is weaker in thought he supposes both the keys to be of the gate of heaven one is of gold the other of silver they are given by saint peter to the sentinel angel and it is not easy to determine the meaning either of the substances of the three steps of the gate or of the two keys but milton makes one of gold the key of heaven the other of iron the keep prison in which the wicked teachers are to be bound who have taken away. The key of knowledge yet entered not in themselves. We have seen that. The duties of bishop and pastor are to see and feed and of all who do so it is said he that watered shelby watered also himself but the reverse is true also he water not shall be withered himself and he that see if not show himself be shut out of sight. Shut into the perpetual prison house and that prison opens here as well as hereafter. He who is to be bound in heaven must first be bound on earth that command to the strong angels of which the rock apostle is the image take him and bind him hand and foot and cast him out issues in its measure against the teacher for every help withheld and for every truth refused and for every falsehood enforced so that he is more strictly feted the more he fetters and father outcast as hugh more and more misleads to lead last the bars of the iron cage close upon him and as the golden hopes. The iron shot semaine..
"treasuries" Discussed on Harvard Classics
"The most unpastoral is instead of feeding to want to be fed to be a mouth take the to reverses together and you have blind mouths. We may advisably. Follow out this idea a little. Nearly all the eagles in the church have arisen from bishops desiring power more than light they want authority not outlook whereas they're real office is not to rule though it may be vigorously to exhort and rebuke office to rule. The office is to oversee the flock to number at sheep by sheep to be ready always to give full account of it now. It is clear he cannot give account of the souls if he has not so much as numbered the bodies of his flock the first thing therefore that a bishop has to do is at least to put himself in a position in which at any moment he can obtain the history from childhood of every living soul in his diocese and of its present state down in the backstreet bill. Nancy knocking each other's teeth out. Does the bishop know all about it. Has he his eye upon them. Has he had his eye upon them. Can you circumstantially explain to us. How bill got into the habit of beating nancy about the head if he cannot. He is no bishop though. He had a minor as high as salisbury steeple. He is no bishop. He has sought to be at the helm. Instead of the masthead. He has no sight of things. Nee you say it is not his duty to look. After bill in the back street was the fat sheep that have full fleeces. You think it is only those. He should look after while. Go back to your milton. The hungry sheep look up and not fed besides what the grim wolf with privy paul bishops knowing nothing about it daily devours a pace and nothing said. But that's not our idea of a bishop. Footnote compare the thirteenth letter in time and tide and footnote perhaps not. But it was saint. Paul's and it was milton's they may be right or we may be but we must not think we are reading either one or the other by putting our meaning into their words. I go on but swollen with wind and the rank missed they draw. This is to meet the vulgar answer. That if the poor are not looked after in their bodies they are in their souls. They have spiritual food and milton. Says they have no such thing as spiritual food. They are only swollen with wind. At first you may think that is a course type and an obscure one but again. It is quite literally accurate one. Take up your latin and greek dictionaries and find out the meaning of spirit. It is only a contraction of the latin word roth. I didn't indistinct translation of the greek word for wind..
"treasuries" Discussed on Harvard Classics
"Spread besides what the grim wolf with privy pau daily devours pace and nothing said. think over this passage and examine its words i. It is not singular to find milton. Assigning to saint peter not only his full episcopal function but very types of it which protestants usually refuse most passionately. His mytalk locks. Milton was no bishop lover. How come saint peter to be monitored to massey. Keys he bore. Is this then. The power of the keys claimed by the bishops of rome and is it acknowledged here by milton only in a poetical license for the sake of its picturesque nece that he may get the gleam of the golden keys to help his effect. Do not think it great men do not play stage tricks with doctrines of life and death. Only little men do that. Milton means what he says. It means it with his might to is going to put the whole strength of his spirit. Presently into the saying of it for though not a lover of false bishops he was a lover of true ones and the lake pilot is here in his thoughts. The type and head of true episode co power for milton reads that text. I will give unto the keys of the kingdom of heaven. Quite honestly puritan. He would not blot it out of the book because there have been bad bishops day in order to understand him. We must understand that. I i it will not do too. I it askance or whisper it under our breath as if it were of an adverse sect. It is a solemn universal assertion deeply to be kept in mind by all sects but perhaps we shall be better able to reason on it..
"treasuries" Discussed on Harvard Classics
"And they had to read many of them also which used curious arts brought their bibles together and burnt them before all men and they counted the price of them and founded fifty thousand pieces of silver. Or if on the other hand retranslated instead of retaining it and always spoke of the holy book instead of holy bible. It might come into more heads than it does. At present that the word of god by which the heavens were of old and by which they are now kept in store but note two peter three five through seven and two footnote cannot be made a present of to anybody in morocco binding nor sewn on any way signed by help. Either of steam plough or steam press but is nevertheless being offered to us daily and by us with continually refused and sewn in us daily and bio says instantly has may be joked so again. Consider what effect has been produced on the english vulgar mind. By the use of the sonora latin form domino in translating the greek contact carino when people charitably wished to make it forcible and the substitution of the condemn for it when they choose to keep a gentle. And what notable sermons have been preached by illiterate clergyman on. He that believe if not shall be damned though they would shrink with horror from translating hebrews eleven seven the saving of his house by which he dammed the world or john eight twelve woman hath no man damned the she say no man lord jesus answered her neither do i damn the go and sin no more and divisions in the mind of europe which have caused seas of blood in the defensive which the noblest souls of men have been cast away in frantic desolation countless forest leaves though in the heart of them founded on deeper causes have nevertheless been rendered practicably possible mainly by the european adoption of the greek word for a public meeting to give peculiar respectability to such meetings when held for religious purposes and other collateral equivocations such as the vulgar english one of using the word priest as a contraction for presbyterian owner to deal with words rightly. This is.
"treasuries" Discussed on Harvard Classics
"Are your own care wit and learning your smelting furnaces. Your own thoughtful soul. Do not hope to get at any good authors. Meaning without those tools. And that fire often you'll need sharpest finest chiseling and patient fusing before you can gather one grain of the metal and therefore first of all i tell you earnestly and authoritatively..
"treasuries" Discussed on Harvard Classics
"May talk with queens and kings or flatter yourselves that it is with any worthy consciousness of your own claims to respect that you jostle with the common crowd for entree here and audience there when all the while. This eternal court is open to you with its society. Wide is the world multitudinous as its days the chosen and the mighty of every place and time into that you may enter always in that you may take fellowship and rank. According to your wish from that once entered into it you can never be outcast. But by your own fault by your aristocracy of companionship. There your own. Inherent aristocracy will be assuredly tested and the motives with which you strive to take high place in the society of the living measured as to all truth sincerity that are in them by the place. You desire to take in this company of the dead. The place you desire and the place you fit yourself for. I must also say because observe this court of the past differs from all living aristocracy. In this it is open to labor and merit but to nothing else. No wealth will bribe no name overawe. No artifice. Deceive the guardian of those unleashing gates. In the deep sense no vile or vulgar person ever enters there at the port. Here's of that silent. Faubourg saint germain. There is but brief question. You deserve to enter pass. Do you ask to be the companion of nobles. Make yourself noble and you shall be do you long for the conversation of the wise learn to understand it and you shall hear it but on other terms no if you will not rise to us we cannot stoop to you. The living lord may assume courtesy living philosopher his thought to you with with considerable pain. But here we neither fain interpret..
"treasuries" Discussed on Harvard Classics
"Sesame and lilies by john ruskin this liberal. Vox recording is in the public domain recording oxygen handler of kings treasuries part to the good book of the hour. Then i do not speak of the bad ones is simply the useful or pleasant talk of some person whom you cannot otherwise converse with printed for you very useful often telling you what you need to know very pleasant on as a sensible friends present talk would be telling in the form of novel firm fact telling by the real agents concerned in the events of passing history. All these books of the hour multiplying among us as education becomes more. General are a peculiar characteristic and possession of the present day. We ought to be entirely thankful for them and entirely ashamed of ourselves. If we make no good use of them but we make the worst possible use if we allow them to usurp the place of true books for strictly speaking. They are not books at all but merely letters or newspapers in good print. Our friends letters may be delightful or necessary today whether worth keeping or not is to be considered. The newspaper may be entirely proper at breakfast time. But assuredly it is not reading for all day so though bound up in a volume the long letter which gives you so pleasant and account of the ins and roads and weather last year at such a place. Or which tells you that amusing story or gives you the real circumstances of such and such events however valuable for occasional reference may not be in the real sense of the word a book at all nor in the real sense to be read. A book is essentially non. Talk thing but a written thing and written not with the view of mir communication but of permanence the book of talk is printed only because its author cannot speak to thousands of people at once. If he could he would the volume is mere multiplication of his voice. You cannot talk to your friend in india if you could you would you write instead. That is mere conveyance of voice but a book is written not to multiply the voice merely not to carry it merely but to preserve it..
"treasuries" Discussed on Crypto Voices
"Don't think it makes Oh you like this Beck when we had the coin payment terminals they had. Gps right and we found is rarely provider that they're resold the telefonica sims for gprs international so essentially put the gps simone it and you have data anywhere on earth that has a tower even a crappy tower so we had like people in the desert using the terminals which was kind of interesting. I didn't know it could go like that remote what's bullock. Judy is very poor data. The iot it's better usually to buy from a foreign country because this way you can use olden tokes of gallantry in roaming and issue by your local income you can use on. Um well-meant nice So yeah the old is international at ut providers usually use some unpopulated counties in cards just to give you better coverage in the other countries but now the switching to e- seems and the i'd election no such device I don't remember the name of these. Like four g Router for going location in the country and basically What they do is they collect for low speed collection to vessels when you when you log in. And then they don't know an an sem into the device for the local county in wichita at the given moment that's back to starlink though Does anybody know like what's the latest like. What would you get connection wise for what you'll pay. How quickly will it be available inside north america so i saw a demo d- And also have a colleague who received his in in both cases. So there's not saturation in the market yet. But just trickling out the user bases based on based on where he lived but They were pretty close to advertise like over eighty a. I didn't see it in the democrat. Did it didn't get over hundred which they claim to be at one hundred But it was. It was not like very far off of what they were advertising. And you pay for that. I'm glad we're doing an isp show. Today i forgot to tell you a pre show. This is yeah. We're doing less economics and more stuff people could use even if it's darling. I wish we had a referral but I forget what the case was. It was on par with another is see at least here in the us which would make it right around one hundred dollars a month. I could be wrong on that. But that's that's next on my mind we'll get to your products eventually novak but now maybe we don't for spe- services so whether you're putting seem rosenberg gold. We wanted to make a product different product that would have those would be chain state aware right so you would know transactions but then it's like the complexity and the cost it was just like you end up making a phone. This is the problem right. And when you are at a phone level now it's different costs in scale you need now. Laura could be interesting if you have a aware amash being a little bit more taken hold in north america. Yes speaking of mesh networks. What's the latest with your ham radio project. That was another interesting when we're thinking about like if you're talking about broadcast in a future where internet connectivity is at risk just theoretically of course is it better to have like your ham radio style mesh now working as well or like sat wheel. Satellites be useful in this case if now internet connectivity is down there is no realistic way of blocking the internet. I any country anywhere right. I mean even in north korea. They find a way. The only problem is they shu- they found that he found their way right so the deterrent. Violence there is a little bit next level but is typically speaking when you talk about like solving lack of internet issues for censorship or of remoteness or just like lack of infrastructure like it really is a mix of solutions so for example you with wi you can do ten kilometers if you'd have the right gear At wifi already supported by every device right in the market then he can connect that to some fidel's talks long distance. Like like docu about tens of kilometers. You could ten kilometers on wi fi. Yeah what the how many what's the frequency on that. Not much like it just needed. Yeah g so you'd normally do a two point four gigahertz right So that means the antenna would be about With a two point four gigahertz and the right anti you can go ten kilometers. Yeah so so. The antenna will be essentially like the size of Of like a computer like just just like links will be like about a foot or two foot antenna but but a second an antenna. We've raised right. It's like yohji so it's directional you have to point. it's not like on the direct you cannot. You'd require too much for that. But but still like ten kilometers. You'd be ten kilometers like if you line of sight of course and with like no more than fifty dollars per gear not even twenty dollars where figured you can make the intent with like some wire as much what you should look at the ubiquitous. Catalog actually venkov some wireless spew range They sell lake yet. Everything you need to create a wireless. Isp in a built in the world and can go up to like fifty or one hundred kilometers of some of the some of the gear. They so michelle. Got me all into ubiquity. Hackers you know there you go great. I do. Ubiquity makes awesome stuff. It's a shame they got pounds so badly by home. what happened. Oh they had a major hack if you were using you be greedy dot com accounts to manage devices They basically leaked. All the info of all configurations already mentioned this. Yes i wasn't. Yes keep going. I was leading. Never used the the collected the gallant to her service. So i mean he s not never do on anything. If you're using a cloud service you you get what your did. But that's true for everything right like if you buy if if you buy like a robot vacuum if you buy like a smart thermostat or whatever you buy like nowadays is very hard to find things that are not smart but dicky thing is just never connect those fans to the remote service. Just don't do the full setup and then you're fine what about security cameras inside your house. Well obviously yeah. But i mean what about security cameras. That are outside. And then you have information that Might be uploaded to the cloud. Where again. I'm using ubiquity for my cameras at home and they recalled to my own server Betray old and controls than the average listener is thinking. How do i get hands server. Just house for coins. yeah that's the way you could host an end. Vr incas. But now i actually. Ubiquity sells like caldera box which is the several for you. Yes cameras in wifi insecurity and now even voice and everything so Yeah you can hold..
"treasuries" Discussed on 860AM The Answer
"We're talking about retiring today in today's environment and interest rates are sort of a double edged sword when it comes to the world of finance is because they're really helpful for borrowers. Market Watch says that the low interest rates mean that you know it's going to take out obviously more purchasing power to maintain your standard of living in retirement. So how do you have your retirees plan around the low interest rates in retirement, Eric Well, yeah. When I was in college I was working at, uh, Security Pacific Bank, which got beaten up by B of a. But I was shocked at one point because also in the savings accounts were no longer 5%. They've been 5% for as long as I could remember. Yeah, And now you know, 0.1. There's something you should if you're lucky on guess. Oh, yeah, it's great for for mortgages. Horrible for bonds and putting money in the bank. Now you need to have some money, liquid access. You need to have something that's there for you know that raided a fund, so you still need to have some in the bank. Ideally, maybe put it in the online bank that earns a tiny bit more interest right now, but not much but least something more. Really? What you have to do, though, is if you're using the traditional part of what we call foundational money, So foundational money is stuff that doesn't go away. And so you know, that's usually insurance companies U. S Treasuries or banks. U. S. Treasuries are super super low and staying with Thanks So really, the only place have some good guaranteed money now is insurance companies and insurance companies. Historically, they've paid about 1 to 2% higher than banks, and, sadly, they still are so wanted to 2% more than not much is Still better and you know, it's still better than nothing right? And so you know, that's one place to be looking at, and really the other part reason people put money in bonds, and they're in their stock portfolio and their market money is again to have lower volatility. Well, guess what. Those bond rates are super low too. And bonds. Go down that mon values go down when interest rates go up or they go. You know the flip side, the other direction Well, forwarded zero pretty much. You know, there's no way for the bonds that jump up anymore in value because there's no way to lower the rates. So that means that all bonds are either gonna learn nothing or lose value and rates go up. Well, that's a pretty awful dilemma right savers and investors in them. And so that's where some of these products that air from insurance companies that are foundational. They actually compare a rate based on various stock indexes. And then still protect you and guarantee your principal. Actually, even more protective than a bond would truly guarantee it. So you know, there are options out there. It's just you gotta get a little bit more creative and just blindly doing a Old school 60 40 fund or one of those target date funds. You may be missing the vote on how you can make some money on the least, that bond side earn a little bit more. CNBC survey says that about 42% of Americans say they really don't actively monitor their investments. You know to make sure that they're diversified. How do you help your retirees get to the bottom of what's going on with their portfolio? Yeah, well, ostrich planning is not always the best right now. Ostrich winning? Yeah, sticking your head in the sand and hoping it's all okay. Remember? No 809, where some people just said Oh, well, I just stopped opening my statements and now No, I'm fine. I'm not. Don't worry about it. It's like what You know you can't do that. You're just not going to the dentist anymore. Doesn't mean your teeth are gonna be healthy. Uh, s O. What you really need is you need to.