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Joe Weisenthal
@TheStalwart
Co-host of the Odd Lots podcast.
New York Citybloomberg.com/OddLotsJoined March 2008

Joe Weisenthal’s posts

THREAD EXPLAINING NEGATIVE OIL: Oil costs $ to store. Due to the economic collapse, oil isn't being used much. So all the storage facilities are filled up. So nobody who can store it will buy it from you. If you want to get rid of oil, you have to pay someone. That's the thread
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If Biden wins the nomination, a lot of Wall Streeters who said that Sanders winning would force them into reluctantly supporting Trump, will have to come up with a different reason for voting Trump.
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Just re-reading 's comments on Don Lemon's show from the week I was on vacation again, and I'm struck by how much better her framing is than the vast majority of people who are paid to opine about inflation professionally.
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This bot is GRINDING
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Crypto bot borrows $200 million in a flash loan to secure just $3 of profit theblock.co/post/234595/cr
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Men will literally buy Bitcoin at $60,000 rather than buying a Treasury bond that gives them a guaranteed 2.48% cash payment every single year for the next 30 years.
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It’s interesting that in less than a year, Biden has withdrawn forces from Afghanistan and passed a substantial infrastructure bill. Two Trump priorities that never got done during his administration.
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To what degree did crypto contribute to elevated inflation, by juicing buying power of token holders, contributing to semiconductor tightness, pulling in labor from elsewhere, all the while contributing nothing productive for the supply side?
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You're telling me a sovereign government attempted to chart a new course for the domestic economy, and then faced an immediate backlash from the IMF, White House, central bank, and big finance, and then a month later a Goldman and Stanford alum was put in charge?
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The US has one of the best recoveries in the world. Inflation is now lower than g7 peers. The hot labor market has put a real dent in inequality. And Biden had a historically great midterm. And yet for two years, pundits have been totally consumed by alleged policy mistakes.
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Mr. Dube and two co-authors found that...in just two years, the economy undid about a quarter of the increase in inequality since 1980. Much of that progress, they found, came from workers’ increased ability — and willingness — to change jobs. nytimes.com/2023/07/06/bus
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Serious question. Do the people who think the virus is some media driven panic designed to tank Trump’s presidency by manufacturing a recession think that the complete lockdowns in places like China and Italy are also in on the same conspiracy to doom Trump?
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1997: World's best human chess player gets destroyed by computer. 2017: World's best chess computer gets destroyed by Artificial Intelligence program that had only learned about chess a few hours earlier.
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Top chess engine gets stomped by one made by the Deepmind team buff.ly/2Afy85W
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Unironically, the fact that Satoshi had such good opsec from the very beginning and still hasn’t been doxxed is one of the most incredible aspects of Bitcoin’s immaculate conception.
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The dollar has lost 50% of its purchasing power in the last 30 years. For comparison, Bitcoin has lost 50% of its purchasing power in just the last 3 months.
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Honestly it doesn't look *that* wedged in there. I mean, just get a tugboat on the back end to pull in one direction and a tugboat on the front to pull the opposite. IDK, I'm sure the experts are working on it, but that's just me and how I'd do it
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People accuse me of being a fiat shill. Well, I've decided to put my money where my mouth is. In 2021, I'm electing to take my entire salary in USD.
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A dimension to this story that we can’t forget. Many of the leading folks in the industry that now wants Powell to step up and protect them spent the last 5 years telling lies and breeding cynicism about the Fed as pretext to sell cryptocurrencies to retail bagholders.
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The cost of living is up over 8% in the last year, but that's only if you're using dollars. For those using and saving in Bitcoin, inflation is closer to 33% over that timeframe.
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Mainstream Democrats who say they want an alternative to Biden. Tbh I don’t really get it. The man has a long career of steamrolling opponents and passing substantive legislation. What else are people looking for in a candidate?
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Inflation has cooled for 10 straight months, even as the unemployment rate has steadily improved. Maybe putting millions of people out of work isn't a necessary pre-condition for stabilizing prices.
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Breaking News: U.S. consumer prices rose 4.9% in the year through April, a 10th straight month of declines in inflation. nyti.ms/3HXO11N
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Kind of nuts seeing how well the AI does at producing code. Big societal question now is, how do we increase the number of students with liberal arts degrees in order to prepare for the jobs of tomorrow?
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It’s funny. Tech people and gold people love to talk about how the government manipulates CPI data, and that some private company with modern techniques could do a better job characterizing the real numbers. And then a company does it and says inflation is just over 2%
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Today's CPI Data by Truflation. 🇺🇸2.22% 🇬🇧11.11% More t.me/truflation
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Horrific economic toll. 3.2 million initial weekly jobless claims in one week. Previous crises and recessions are barely a blip on this chart.
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You, an idiot: Let's get back to work even if it means millions of deaths You, a separate idiot: I can't believe you're prioritizing the economy when lives are on the line Me, a normal person: Let's mail everyone a check for a few months and not force such a horrible choice?
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The real lesson of Bluesky is that people are going to it, and even though it's ostensibly "federated" and "decentralized" nobody cares. People will just use the corporate instance of it. Mastadon's mistake was thinking anyone actually cared about the "pick your server" part.
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Everyone on Twitter's like "Good riddance, what an awful decade... also this decade, sold my first startup, got married, three of my portfolio companies had exits, had twins, ran marathons on three continents"
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I don't think it's crazy to suggest that the media's focus on the negative aspects of this economy might be playing some role here.
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Six in 10 regard unemployment as a very or somewhat serious national problem. Unemployment is very close to a half-century low today.yougov.com/topics/economy
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Somehow the fact that a few hedge funds were caught short $GME has morphed into “the global elite are under threat by the price of a videogame retailer stock going up” which is, frankly, a hilarious thing to think about.
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During my life, the term American Dream has been redefined from having a "Nice house in the suburbs and a dog and two kids" to "a longshot bid at becoming a billionaire" and I think that says a lot.
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"I believe in a progressive income tax and the rich paying more. But this is the fucking American dream she is shitting on.” Billionaire Leon Cooperman on @ewarren politico.com/news/2019/10/2
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Funny watching the blue checkmark gang in disblief at losing an election. Really shows how out of touch they are with 75 million of their fellow citizens. Would rather concoct conspiracy theories than get out of their bubble.
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Ken Starr: "What happened in #Pennsylvania over these recent weeks is a constitutional travesty," #Election2020
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In America you can become the CEO of a big company without ever having gone to college or maybe just by getting an accounting degree from a random state school. But if you want to be the #2, you have to have gone to an Ivy.
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It's really unbelievable how the US government just totally slammed the brakes on public investment after the Great Financial Crisis. Eye opening charts from Morgan Stanley here.
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I can't believe The Roaring Kitty was exposed as a... highly competent, educated finance professional, who had a keen understanding of how to analyze business fundamentals.
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This is important: -- A Shiba Inu puppy costs about $1500 -- $1500 invested in Dogecoin in 2014 would be worth $495,000 today Lesson: Invest your money. Don't build connections with pets.
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General vibe I’m getting is that today was the worst day in the crypto industry’s history. And that the second worst day was yesterday.
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