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Tag Archives: Bloomberg

Why the world belongs to the (software) coders

I’ll say from the outset that this article is not for everyone, (and it is LONG) but I found it intriguing and potentially very useful for people who are trying to get their heads around what the economy – what I would consider the REAL economy – is doing right now.

And on a personal note I have to give a nod to my dear old Dad who, back in the early early 80s was explaining to his kids why coders would someday roam the business world and change every facet of that world.

Read on for valuable insight.

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No question that “low interest rates have exacerbated the wealth gap between the poor and the rich because the rich have assets.”

Michael Bloomberg said this recently and he is right. If one had assets prior to 2008, particularly of the stock variety, there is a very good chance that your portfolio is looking pretty good these days. The Fed through various means has inflated markets artificially.

If however one had no assets prior to 2008, or went bust during the chaos of the Crash one is probably still struggling.

The Fed, the central planners, have made the rich much richer. (For the time being.) It wasn’t free market capitalism which did this.

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“Prime Minister Alexis Tsipras will return to face a mutiny within his coalition after he surrendered to European demands”

Tough decisions in Greece. Huge pressures.

I was watching Bloomberg last night just before midnight and they were reporting that the hashtag #thisisacoup was the highest trending hashtag on Twitter for a while yesterday. So what does that tell you?

The Germans (and others) wanted to crush Greece. And it looks like Deutschland may have succeeded.

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Rapid Rise in Super PACs Dominated by Single Donors (List of the top in 2014)

Super PACs can spend whatever they want on ads, etc. so long as they do not coordinate with any specific candidate. They are a direct result of the Citizens United decision, of which we don’t have much of a beef. It’s way harder to buy elections than people think, and given the number of people entering the race for president (on the Republican side anyway) the current political money regime may actually be broadening the issue spectrum.

Saying this, we have an obligation to pay attention to who is throwing money around. Though it is hard to buy an election that doesn’t mean people won’t try.

Here is a list of the top “single donor super PACs” of 2014.

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Candidate for VA governor Terry McAuliffe meets with Michael Bloomberg, The New York Connection

Terry McAuliffe is a Clinton era apparatchik from Syracuse and he wants the head political job in Richmond. He’s long coveted the position and was defeated 4 years ago in the primaries in his first quest. Now that he has the nomination however he is calling in his chips. Politico reports that McAuliffe recently met with Mr. Moneybagssodabanguncontrol, AKA Michael Bloomberg, AKA Mr. New York. Hooray.

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The world’s smallest drone, the “robo-bee.” (Video)

The idea is that perhaps this little robot could fly from flower to flower pollinating plants in the same way that real bees do. We need the insects to grow food. With declining bee populations around the world this is a legitimate concern.

Also of legitimate concern is a drone the size of a penny which could perch itself on one’s windowsill. But I guess that’s why God invented fly swatters.

Click here for the video.

Uh oh, the whisper campaign for Larry Summers as head of the Fed has begun.

First of all, end the Fed. Just had to say that. End it tomorrow. It is the source of the modern boom and bust cycle, extended the Great Depression, inflated the tech and housing bubbles, and has extended the Great Recession. (Some of its crimes.) Now “Mr. let’s end Glass-Steagall and blow up the world with derivatives” is unofficially throwing his hat in the ring for Fed Chairman. People of the world rejoice, a new dawn is breaking!

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How much information do Bloomberg reporters have access to on Bloomberg trading terminals?

Though I have real issues Mayor Bloomberg, the publication which bares his name is often superb. We highlight their articles regularly at ACC.

But Bloomberg publishing has got a real problem on its hands. On Friday the story broke that reporters at the magazine and website may have had access to when bankers and traders from Goldman Sachs, The Federal Reserve,  to the Vatican were online, and even what their keystrokes were. Pretty high quality information.

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If you weigh over 260 lbs, you are not allowed to use the new NYC bike share program.

We have bike share in Washington DC and it seems to work pretty well. So long as the program is privately funded in New York I have no problem with it for the most part. (I believe the program is publicly funded in DC though, and the program in New York has still been decreed by city hall.) But Mike Bloomberg, New York’s Napoleon and Dietitian in Chief has decreed that if one is fat one may not use the bikes in the new program.

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Goldman Sachs, Citigroup, Received Fed Minutes Early

Good information is the most valuable commodity one can posses. When good information comes from one of the most powerful entities in the known universe, the Federal Reserve, this is especially the case. Getting early access to whether the Fed will lower rates, raise rates, or keep them the same would be the ultimate advantage for an investor. Yesterday the world learned that such an advantage was given to some of the worlds largest banks, accidentally.

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