When you know what you don’t want is when you most clearly know what it is that you do want. Then it’s up to you to turn your full attention to what you want.
I came across this on the web this morning:
Over 500,000 books may disappear from the Internet thanks to a recent appeals court ruling. The court ruled that the Internet Archive, which scanned the books to make them available for digital lending on-line, violated the copyright of various publishers. Those publishers brought the case.
I don’t want to get into an argument about copyright violations. The reality of the situation is that many of the books ONLY exist in digital form now. Deleting them will mean losing them, perhaps forever. This will be a ‘great erasure’ of books and knowledge–the sort of loss that the Internet was supposed to help prevent.
Link to ruling: https://www.publishersweekly.com/pw/by-topic/industry-news/publisher-news/article/95865-appeals-court-upholds-decision-against-internet-archive-s-book-scanning-program.html
Keep the yield curve in mind. The longer the inversion (we just went through one of the longest inversions ever), the bigger the drawdown in stocks once the curve UN-inverts (which it just has). Rate cuts don’t fix this. The Fed can’t pump stock prices with lower rates when real earnings in the real economy are slumping.
If you go back to last June, the American economy has added over two million part-time jobs and lost over one and half million full time jobs. Quantity up. Quality down.
The yield curve is just about uninverted. At the market close today, the 2-year Treasury yielded 3.76% and the 10-year Treasury also yielded 3.76%.
"One of the surest signs of recession is an inverted yield curve that stops being inverted. I’ve read arguments why this time might be different. But I wouldn’t bet against this signal. Especially when it’s accompanied by rising unemployment, falling commodities and falling cyclical stocks."
By the way, I’ve mentioned this before, but my favorite place for checking government bond yields is on this page at Bloomberg ( https://substack.com/redirect/58ee4e7c-42c4-4aa2-907d-f0e17057bbd4?j=eyJ1IjoiMTJncHEyIn0.TFNucVxWIOzkrdGN_XAFc_rUZpuRqJ99sIKtsNPoFvA ). You can toggle between five different countries. And for each country, you can see short term, medium term and long term rates, plus inflation-protected rates." Bonner Research
https://image.nostr.build/366dce102ebc188b77eba9c05dbe3a2484dbf2599201345661d2cc2d6ce1cc4a.png
Hi. I listened to your talk with Jeff and I thought that the question's you asked were framed in a higher level of consciousness that you don't hear that often. I listened twice as to let the info sink in deeper. Thanks for taking the time to do this :-)
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