Political Discussion

Wells Fargo is having systems issues today. The internet is freaking out that money is missing from their accounts / todays direct deposit didn't post.

Wells Fargo's official statement is that the money is in peoples accounts and that that their account balances are accurate. And that it's just system issues that are preventing some customers from seeing the correct balance at this time.

No comments from Wells Fargo on people saying they can't withdraw money from the ATM because the ATM doesn't show the right balance, or other people showing a negative balance and over draft fees.
 
The February jobs report is out. Here are the key takeaways

  • 311,000 jobs added which was much higher than expected
  • More women than men entered the workforce
  • Wage growth has slowed down to nearly stagnating which is a much larger decline in wage growth than expected.
  • Unemployment rate increased by 0.2%

Meanwhile, inflation is persistent, and the Feds said today that a larger than average rate hike may be needed.
 
The February jobs report is out. Here are the key takeaways

  • 311,000 jobs added which was much higher than expected
  • More women than men entered the workforce
  • Wage growth has slowed down to nearly stagnating which is a much larger decline in wage growth than expected.
  • Unemployment rate increased by 0.2%

Meanwhile, inflation is persistent, and the Feds said today that a larger than average rate hike may be needed.

Ask them how their profits are doing?
 
The February jobs report is out. Here are the key takeaways

  • 311,000 jobs added which was much higher than expected
  • More women than men entered the workforce
  • Wage growth has slowed down to nearly stagnating which is a much larger decline in wage growth than expected.
  • Unemployment rate increased by 0.2%

Meanwhile, inflation is persistent, and the Feds said today that a larger than average rate hike may be needed.
The feds are hell bent on putting us into recession because they would rather workers not have any power even though most of the inflation is not due to wages, but to record profits in the form of stock dividend payouts.
 
Good news their deposits are insured up to 250,000. If you got more than 250,000 in the bank you probably didn't need it anyway. My apologies to anyone on this board that may have 250,000 in the bank. If I had 250,000 in the bank I know what I would be doing. I'd get real close to paying off my house note with it.
 
Yikes. SVG's primary clients were businesses and start up tech companies.

And these businesses are only insured up to $250,000. Lester Holt was just interviewing some business owners out 8 figures.
 
Boston just had another public transportation meltdown. Or rather, meltdown for commuters.

Last night and much of today has substantial delays on the subway and backups at stations got so bad they had to call in shuttle busses to alleviate trains.

Why. Federal Safety Inspectors discovered that the "T" was missing track safety inspection documentation. Thus a speed restriction was put into place to ensure the safety of passengers, but created massive delays and backlogs of people at stations. The speed restrictions could only be lifted after the documentation was found or tracks were reinspected. This impacted all lines. The speed restrictions have now been lifted for all but 2 lines.

This is just the latest in safety and infrastructure issues that have plagued the T in recent years.

NBC10 asked a Federal Rail Safety Official if this happens in other cities, or just Boston. And his answer was "Just Boston".

Years of underfunding, deferment of maintenance and mismanagement is to blame and the system is at a breaking point.
 
Yikes. SVG's primary clients were businesses and start up tech companies.

And these businesses are only insured up to $250,000. Lester Holt was just interviewing some business owners out 8 figures.
I don’t see this as a yikes, maybe if some of these people with more money than anyone could possibly need lose their shirts, things will start to correct.
 
I don’t see this as a yikes, maybe if some of these people with more money than anyone could possibly need lose their shirts, things will start to correct.

My concern wasn't about the individuals who have more money than they could possibly ever need. It's with the businesses, and how many of which could end up out of business and peoples livelihoods taken away. Especially with small businesses.


Also, what happens if a large company like Roku is suddenly out half a billion dollars? Layoffs?
 
There are reports that wealthy investors and founders of SVB were tipped off / had early warning and withdrew all their money form SVB on Thursday.

Does any kind of insider trading law apply to banks?
 

Lot's of startup Crypto companies banked with SVB. More than $70 Billion in losses in the crypto market in 24 hours due to the collapse of SVB.
 
So Biden had surgery recently and it was confirmed what they removed was cancer and this got next to no attention.
And I get that there's a good chance they got it, but he's not a pillar of mental or physical health (to be expected at that age) and the only campaign promise he seems to be delivering on is that nothing will fundamentally change. I don't see how he beats the fascists.

A Trump or Desantis win would, without hyperbole, in all likelihood usher in the end of even our sickened and illusory democracy. The consequences for the rest of our lifetimes will be drastic and dire. But the other possible Democratic options seem uninspired and they're playing a stupid game waiting for Biden. He's not owed an automatic nomination, but that's what this bullshit political system does. A healthy democracy would have challenges and debate with different ideas. We get none of that.

A Harris nomination would surely lose.

Newsom seems unlikely to run and while there's some to like there, there's also something kind of slimy about him that I don't care for. Still I'd probably rather he run.

Sanders might run again. But the Dems will surely sabotage and prevent any chance of him getting the nom. Plus he's very old too and has made some questionable concessions with the Dems that I don't care for.

Gretchen Whitmer might be an interesting candidate, but I haven't followed her career closely enough to really know all her politics. What's happening in Michigan is promising though.

AOC doesn't have the political capital yet, even though she has the cultural capital (but she's squandered a lot of that by falling in line with the Dems on bad policy that she supposedly opposes).

Max Collins is my off the wall sure to lose would never in a million years happen pick that I just want to watch because the discourse would be worth it.

I feel like perennial loser Stacey Abrams will run and lose again.

Buttigieg would be my absolute least favorite Dem candidate.

Williamson seems like the kind of person they get to run so that they can make good ideas sound like they're crackpot ideas.

Jared Polis is another I could see running. I met him years ago and talked at length about his politics when he was the Boulder rep. He's a compromise candidate in my opinion that could satisfy enough elements of the party, but which side he panders to seems like a coin flip.

Who am I missing here who might run?
 
Etsy apparently uses SVB for a large portion if it's sellers to process transactions and has warned sellers that payments have been frozen until Monday.


 
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