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How could it be any worse than 08? Subprime loans had almost zero equity in them, whereas most commercial loans start with 25-30% down, so the bank at least walks with something. 2008 was fine for those who had grown up jobs and didn't lose them.
any day now
I'm sure there is someone here who can explain it off the cuff.
It only took two decades for inflation to hit 100% in Argentina.
Like I said, I still don't see how this could be worse than 2008. Vast majority of home owning Americans had more wealth in their homes than elsewhere, which was a double whammy because it made some of them homeless afterwards. Losing household wealth is much more devastating to an economy than institutional wealth.
Some of it can be. There is still a habitable zone around the perimeter adjacent to the windows. It's better than nothing.
They also had a lot of other issues: Tying their currency to that of another country (USD), high import taxes, antagonistic to foreign investment, and other practices that were considered bad economic policy.
The “economic fundamentals“ since 2009 have been MMT:
www.forbes.com
I don't think MMT is all bad so long as money supply is not added haphazardly. Which it has been. If kept in check with productivity, there's really no need for the money supply to be backed by any other asset.
The temptation to misuse it was always its fatal flaw. It sounds awfully similar to how the Roman Empire debased its currency of centuries to pay public debt and reward clients (like black rock) with the first access to capital.
As long as worker total compensation keeps pace with productivity growth and costs stay low. Right now, the two (total compensation and costs) are badly out of balance for the bottom 3/5ths of wage earners while the top 2/5ths are accruing the benefits of productivity growth.
Most of the small pharma companies are scams/cash grabs. Pharma research is very expensive, takes a long time and has a very low success rate. I don't know the precentages, but very few makes it through the more advanced phases. Even if they get a drug into the market it has to compete with other alternatives/have sufficient demand. The end result is that most of them go bankrupt or the investors get diluted beyond repair even if they get a marketable drug.
You don't have to like trash to make money from it. Failing companies provide opportunities as well.Most of the small pharma companies are scams/cash grabs. Pharma research is very expensive, takes a long time and has a very low success rate. I don't know the precentages, but very few makes it through the more advanced phases. Even if they get a drug into the market it has to compete with other alternatives/have sufficient demand. The end result is that most of them go bankrupt or the investors get diluted beyond repair even if they get a marketable drug.
Big evil pharma has probably 100s of drug leads they pursue and whatever doesn't work gets discarded and they come up with something new. All their previous knowledge also increases their probability of success. Similar to big oil companies like Exxon that drills 100s of wells. Many are dry, but they don't go bankrupt like a small oil company would after a few dry holes.
If these people were any good they'd be working for Pfizer making millions with no risk.
From all the other trash you have been posting about, small scale research done by people who don't know what they are doing is probably the way to go
They can announce dates, but things happen when they happen, especially results.
Good info, thank you.
Tell us you were just overweight the oil patch and had a sad. As if living in Norway isn't already basically being a petro-investor.Stupid oil price going to sh!t over the weekly inventory report. Those numbers are never as expected. Add in some interest rate and recession fear to shave off $10 per barrel over the last few days. All my oil companies getting beat up
Red days are giving me the sads. Especially after 4 months on the up :/
Stupid oil price going to sh!t over the weekly inventory report. Those numbers are never as expected. Add in some interest rate and recession fear to shave off $10 per barrel over the last few days. All my oil companies getting beat up
