Druck gives Bidenomics a F. The RBA was on hold at 4.35% and much like the Fed stressed the need to be more convinced that inflation is going to settle back into their target range.
Today the 10Y Auction will be the focus.
XTOD: This tweet (which may be a joke) concentrates all the logical errors presented in Fooled by Randomness. "I was playing Russian Roulette for 1 billion. I asked for advice. Was recommended to stop. Had I not listened I would have won 1 billion."
XTOD: A structural limit on private credit's ability to replace banks: fundraising. The lack of runnable deposit funding looked like an advantage in 2023. But a financial system's first and foremost job is to manufacture deposits.
XTOD: 2024 is the year of compute 2025 is going to be the year of energy as the transmission grid struggles to keep pace with the insatiable demand for POWER
XTOD: The best outcomes don't come from perfection. They come from a mindset of positioning that can not only handle but take advantage of uncertainty. …. When you want to win tomorrow, accurately predicting the future matters. When you want to win in the end, staying in the game matters more.
Positioning isn't about perfect solutions; it's about handling uncertainty and staying in the game.
https://x.com/nntaleb/status/1787371590256038053
https://x.com/StevenKelly49/status/1787240747361616189
https://x.com/Melt_Dem/status/1787607960660652046
https://x.com/shaneaparrish/status/1787841427424076035?s=46&t=D2AESCsaw42dAEzgmjXHQA
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