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Created
Thu, 05/12/2024 - 02:30
Compared to whom? Gen Zers have grown up amidst endless economic and political crises — fallout from September 11, the financial collapse of 2008, the Great Recession, the Covid-9 pandemic, January 6, etc. — that led to a grimmer view of their futures. Axios reports that their struggles have pushed them right while setting impossibly high expectations for financial security: Catch up quick: Financial services company Empower surveyed more than 2,200 Americans in September and the Gen Z respondents — born between 1997 and 2012 — said they would need to make more than $587,000 a year to be “financially successful.” That’s three to six times the amount reported by other age groups surveyed, and almost nine times the average U.S. salary tracked by the Social Security Administration. So what’s going on here? Costs are certainly up, especially housing costs. People living with their parents into their late 20s or needing rommates just to get by certainly influences one’s sense of economic stability. But the statement above about “influencers” stands out.
Created
Thu, 05/12/2024 - 01:00
A Trumpist feature, not a bug It is no secret by now that patriarchy will not go quietly, as Digby noted on Tuesday, calling it “the oldest organizing principle in human history.” There are some very deep forces at work in our changing world, many of which refuse to change. Vigorously. People I’ve called rump royalists never bought into the Declaration’s flowery prose about people being “created equal.” It’s surprising that more don’t do spit-takes at its very mention. They would just as soon see the return of feudalism if they could craft a more consumer-friendly version consistent with global consumer capitalism. (They’re working on it.) Misogyny, promimently on display in Trump 2.0 cabinet picks, is one facet of that patriarchal organizing principle. Consistent with both is the elevation to the cabinet of what Greg Sargent dubs “a Murderer’s Row of Billionaires.” By one count, there are eight among Trump’s picks so far. Sargent discusses the takeover of the White House by the ultra-wealthy with Noah Bookbinder, the executive director of Citizens for Responsibility and Ethics in Washington.
Created
Wed, 04/12/2024 - 20:00
Bowen Xiao Zero-day options have exploded in popularity in recent years, accounting for approximately half of S&P 500’s total options volume, a ten-fold increase from just 5% in 2016. Their flexibility, low premia and underlying leverage appeal to all market participants ranging from conservative investors hedging against intraday market volatility to aggressive traders speculating for … Continue reading Zero-day options and financial market vulnerability
Created
Wed, 04/12/2024 - 11:30
Trump is certainly the most vindictive of all people in political life but he is not alone. Most of Trump’s picks have expressed a thirst for vengeance as well, including the failed AG nominee and Kash Patel, (I wrote about him here.) [T]here are at least eight other Trump choices for senior government posts who have made clear their desire to get rid of, target and even prosecute the undesirables, from attorney general to secretary of state to staffers set to work in the White House. […] Gaetz’s replacement as the pick for attorney general, former Florida attorney general Pam Bondi (R), made similar if less-pitched comments last year on Fox News. She said that when Trump reclaimed office, “you know what’s going to happen: The Department of Justice, the prosecutors will be prosecuted, the bad ones. The investigators will be investigated. Because the deep state, last — first term for President Trump, they were hiding in the shadows. “But now, they have a spotlight on them, and they can all be investigated, and the House needs to be cleaned out.