You can only circle the drain for so long.

Ron

 

You can only circle the drain for so long.

Ron

This bank failure is already hurting local small business.

 

https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
Regulators close New York’s Signature Bank, citing systemic risk

U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis.

“We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening.

The banking regulators said depositors at Signature Bank will have full access to their deposits, a similar move to ensure depositors at the failed Silicon Valley Bank
will get their money back.

“All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer,” the regulators said.

FDIC insurance now covers all deposits. So is the FED buying these banks, because no other banks want them?

To stem the damage and stave off a bigger crisis, the Fed and Treasury created an emergency program to backstop deposits at both Signature Bank and Silicon Valley Bank using the Fed’s emergency lending authority.

While depositors will have access to their money, equity and bondholders at these banks are being wiped out, a senior Treasury official said.

 

Age of Easy Money

 

https://www.google.com/amp/s/financ...s-temporarily-shuts-us-offices-220309100.html
McDonald's temporarily shuts US offices, prepares layoff notices -WSJ

 

https://www.cnbc.com/2023/04/03/goo...ee-laptops-services-and-staplers-to-save.html

Google to cut down on employee laptops, services and staplers

“We have been asked to pull all tape/dispensers throughout the building,” a San Francisco facility directive stated. “If you need a stapler or tape, the receptionist desk has them to borrow.”

Next the company will mandate use of 'The Three Seashells' instread of TP.

We’ve baked too many muffins on a Monday, seen GBuses run with just one passenger, and offered yoga classes on a Friday afternoon when folks are more likely to be working from home,” the document stated.

 

https://www.nytimes.com/2023/04/15/business/silicon-valley-fraud.html
The End of Faking It in Silicon Valley

SAN FRANCISCO — Faking it is over. That’s the feeling in Silicon Valley, along with some schadenfreude and a pinch of paranoia.

Not only has funding dried up for cash-burning start-ups over the last year, but now, fraud is also in the air, as investors scrutinize start-up claims more closely and a tech downturn reveals who has been taking the industry’s “fake it till you make it” ethos too far.

Take what happened in the past two weeks: Charlie Javice, the founder of the financial aid start-up Frank, was arrested, accused of falsifying customer data. A jury found Rishi Shah, a co-founder of the advertising software start-up Outcome Health, guilty of defrauding customers and investors. And a judge ordered Elizabeth Holmes, the founder who defrauded investors at her blood testing start-up Theranos, to begin an 11-year prison sentence on April 27.

 

https://www.nytimes.com/2023/04/15/business/silicon-valley-fraud.html
The End of Faking It in Silicon Valley

investors scrutinize start-up claims more closely and a tech downturn reveals who has been taking the industry’s “fake it till you make it” ethos too far.

The "fake it till you make it" strategy might work for actors, artists and such ... but it's a terrible idea to try to use in the STEM fields ... IMHO

 

was watching the Elon Musk interview. he was explaining how initially there ware several Twitter data centers that could not operate independently or share load so all had to run at the same time. had to change the code to allow shutting down one of them. then increased program efficiency. according to him it is now running on less hardware and it is much more responsive due to applied optimizations. so yeah... the girls made place look more fun but it was the guys that made it work better. as most advertisers are back, revenue is still only about break-even. it may take another quarter to finally see some positive cash flow. the hype, fake accounts etc are just a form of pyramid schemes that will only go so far, in the long run things must be based on real numbers or they will never work.

 

https://www.theguardian.com/busines...-theyre-poorer-says-bank-of-england-economist

Britons ‘need to accept’ they’re poorer, says Bank of England economist
Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wages

 

https://www.curbed.com/2023/05/san-francisco-doom-loop.html
Spiraling in San Francisco’s Doom Loop
What it’s like to live in a city that no longer believes its problems can be fixed.

Have you ever played Fallout?”

I shook my head.

“There’s this thing in the game called feral ghouls, and they’re like rotted. They’re like zombies.” There’s only so much pain a person can take before you disintegrate, grow paranoid, or turn numb. “I go home and play with my wife, and we’re like, ‘Ah, hahahaha, this is SF.’”

 

 

https://www.curbed.com/2023/05/san-francisco-doom-loop.html
Spiraling in San Francisco’s Doom Loop
What it’s like to live in a city that no longer believes its problems can be fixed.

I lived there for a short time around 1990. The writing was on the wall even then.

 

I lived there for a short time around 1990. The writing was on the wall even then.

I had the pleasure of being there as a sailor in the 70's. We would pay the druggies to buy beer for us in the HA (we were under 21 kids) while we got drunk and slept it off in golden gate park. Our ship was docked downtown at the warf near the strip clubs in Chinatown. Good times, good times.

 

I hate to say it but the homeless mess is settling in a county below us. The old days of giving them a "free ride" to the county line when the transient got into trouble or lingered too long are a thing of the past. Being here right on the coast and the old US 1 thoroughfare from New York to Miami there have always been lots of transients but they kept on moving. Not anymore it seems... After several rapes and other serious altercations surrounding their encampment, it was dismantled but all that means is they found a new spot to roost. Sad situation.

 

I hate to say it but the homeless mess is settling in a county below us. The old days of giving them a "free ride" to the county line when the transient got into trouble or lingered too long are a thing of the past. Being here right on the coast and the old US 1 thoroughfare from New York to Miami there have always been lots of transients but they kept on moving. Not anymore it seems... After several rapes and other serious altercations surrounding their encampment, it was dismantled but all that means is they found a new spot to roost. Sad situation.

Unfortunately:

Locally, we nip it at the bud. As soon as they arrive thinking this is a nice place to trash, we inform (in mostly nice ways to go back to Portland) them this is not a nice place for them.

 

Locally, we nip it at the bud. As soon as they arrive thinking this is a nice place to trash, we inform (in mostly nice ways to go back to Portland) them this is not a nice place for them.

This'll work till the Feds classify you as domestic terrorists.

 

This'll work till the Feds classify you as domestic terrorists.

Absolutely no threats of physical violence. There's no shelters, no free food, no free needles, no rescue narcan or dope stores (towns can ban retail) here The local sheriffs live out here too so they do welfare checks on the homeless that seem to be in 'need' while looking for outstanding warrants and other such helpful things in their possession.

Too much 'heat' makes them move to zombie-land Portland where the doping is easy.

 

was watching the Elon Musk interview. he was explaining how initially there ware several Twitter data centers that could not operate independently or share load so all had to run at the same time. had to change the code to allow shutting down one of them. then increased program efficiency. according to him it is now running on less hardware and it is much more responsive due to applied optimizations. so yeah... the girls made place look more fun but it was the guys that made it work better. as most advertisers are back, revenue is still only about break-even. it may take another quarter to finally see some positive cash flow. the hype, fake accounts etc are just a form of pyramid schemes that will only go so far, in the long run things must be based on real numbers or they will never work.

What "girls" are you talking about?

 

https://www.cnbc.com/2023/05/10/mic...reases-for-full-time-employees-this-year.html

Microsoft skips salary increases for full-time employees this year