In recent days the father of behavioral economics died, yes Daniel Kahneman, not behavioral finance, for that, all you need is a psychiatrist and a drug expert.
Kahneman is known for demonstrating how people often make decisions without following logical criteria, debunking the joke of rational expectations.
There is nothing rational today, only fraud and manipulation, for a multitude of fools who think of investing, perhaps on the basis of fundamentals.
A world in the hands of a handful of psychopaths, the financial one, but not only that, also the political one…
The “corporate psychopaths” at the helm of our financial institutions are to blame [per la crisi finanziaria]Clive R. Boddy, of the Nottingham Business School at Nottingham Trent University tells us that psychopaths are the 1 percent of people who, perhaps due to physical factors that have to do with abnormal brain connectivity and lack of conscience, have few emotions and the inability to have, feelings of sympathy or empathy for others. As a final result, the professor argues in a recent issue of the Journal of Business Ethics, these people are extraordinarily cold, ruthless towards others than most and therefore are a threat to the companies they work for and to society.” Psychopaths exploit the relatively chaotic nature of modern society including rapid change, constant renewal and a high turnover of key personnel in companies. Such circumstances allow them to ascend through a combination of charm and charisma, which makes their behavior invisible and it makes them appear normal to the point of appearing to be ideal leaders. A stable environment would instead have made corporate psychopaths visible and identifiable, identifiable as undesirable managers due to their selfish egoistic personalities and other ethical flaws.” (…) The problem began when these charmers effectively took power in the most important financial institutions… men capable of influencing the moral climate of the entire organization to exercise considerable power.
After months and months in which the European Commission hides the truth about vaccines, trying to protect Von der Leyen, who hopes to be re-elected with the help of the idiots on the left and even on the right, someone starts, perhaps, I repeat perhaps , to take care of his dirty business.
Eppo, an agency that investigates financial crimes, will have to deal with some alleged text message exchanges between von der Leyen and the CEO of Pfizer, Bourla in the period preceding the largest agreement on vaccines in the EU worth more than 20 billion EUR.
4 billion seems to have ended up in the garbage, some perhaps in the pockets of some unaware person, perhaps near certain environments and the others in the veins of a population of idiots.
I’m curious to see how these suckers will vote in June.
How is it possible not to admire the American miracle, made up of spectacular data, while the American economy relives the roaring 20s.
Yesterday, while half the world is in recession and China is in stagnation, they even managed to bring up the manufacturing index, after 16 months, I repeat 16 months of contraction below the level of 50 points.
Everyone is there screaming that prices have gone up, pretending not to see the useless speculation on oil that takes its time.
Obviously, no one is talking about the continuing collapse in construction spending, which everyone expected to see a strong revival of 0.7%, but it’s a shame that it fell by 0.3% for the umpteenth time.
The fascinating thing is that scholars, doctors and scholars ignore the employment figure, still significantly below the limit of 50 points, only 47.4.
All this while the BLS continues to report hiring in both the manufacturing and construction sectors.
A special greeting today goes to trolls or drug addicts, who often take the trouble to write to us to point out how we are manipulating data and information, while they continue to take hallucinogenic substances.
One in particular also to those who send us analyzes that in theory should demolish ours, carefully avoiding posting or sending us analyzes that reveal the truth.
But think about it, who would have ever thought!
In recent days, the Philadelphia Fed has made it known that in reality the job market is very fragile, 800,000 jobs were actually invented by the Luce Biden institute, the BLS.
If I’m not mistaken, that’s what we’ve been saying for over a year.
Below is just a small excerpt…
This is what the Philadelphia Fed wrote at the time in its quarterly report Early Benchmark Revision of State Payroll Employment:
Our estimates incorporate more complete and accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program to augment the BLS’s CES sample data that are released monthly in a timely manner . All percentage change calculations are expressed as annualized rates. Learn more about our methodology. Learn more about interpreting our first benchmark estimates.
So what did this “more accurate,” “more complete” report find? It was found that…
All in all during the period 10,500 net new jobs were added instead of 1,121,500 estimated from the sum of the States ; the US CES estimated net growth of 1,047,000 jobs for the period.
Fascinating as in the 2007/2008 period, before the subprime crisis, in which we had denounced the statistical manipulations of the BLS, unique in Italy, smurf, only 10,000 jobs compared to the million or more previously announced.
Now I understand that it doesn’t matter to you, what matters are the markets that just go up, but a good game doesn’t last long and we are right and we report the data for what they are, while others manipulate and adjust the information.
In 2008, despite the data manipulation that had started a year earlier, the recession and crisis still arrived, even though the NBER took over 9 months to declare it.
Those at the Philadelphia Fed wrote last week that…
” employment changes from June to September 2023 were significantly different in 27 states compared to pre-benchmark state estimates of current Bureau of Labor Statistics (BLS) employment statistics
The summary is that in recent years almost 2 million jobs have been invented that do not exist, just as the inflation rate that the BLS reports or the economic growth that GDP NOW invents does not exist.
However, rest assured, because if over one million jobs were created in 2022, last year there were only 800,000.
This does not mean that they can continue until the elections to tell you about miracles, which you drink every day, while also making an effort to point out analyzes that support the American economic miracle and full employment.
Stay calm and dedicate yourselves to other things, we take your word for it, it’s all true, everything is fine.
Even inflation is decreasing in America, while they tell you the opposite,
Yep Beauty, inflation is dropping dramatically as you can see below, while…
While others enjoy telling you that there will be no cuts this year, we bet that there will be and there will be many, but many really, with many regards to “higher for longer”.
While scholars, doctors and scholars expect there will be three cuts, instead there will be many more, the market will take care of it even if the central bankers don’t do it.
In the past, the Fed has had to chase the market, let alone today when it pays attention to fake and invented data for the elections.
Returning to the real estate market, forget about improvements, the only improvements will be more fake data for the elections.
Lower mortgage rates, if there are any, won’t help much because there simply aren’t enough homes and builders no longer know what to do to sell those already built, beyond offering incentives and taking on part of the mortgages.
They can only build shacks, as we wrote recently, of inferior quality, few rooms and unattractive locations, to sell off.
I’m really surprised by the trend of gold and the dollar, they rise together, who would have ever said it apart from Machiavelli?
It’s time for our Niccolò to get back to work next week, many interesting things await us.
Enjoy the show, a good game doesn’t last long!
The last manuscript is out “Governing is making people believe” Spring is upon us, now the fun begins.
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