With Larry Summers stepping away from public view for the time being, will we be seeing more of Paul Krugman on Wall St. Week?
Category: Politics, Religion & Money
Intoxicated on Bubbly
I’d be fine with an overall investment increase of 30% over six years. That’s what my retirement money was on track to earn, when enjoying the previous annual interest rate of 4.5%.
The big boys would laugh at that financial return. For them, too much is never enough, and for now AI is floating the market with the big gains they crave endlessly.
Get Smart and Leave
Did I forget to post this PBS News Hour item from about a month ago? I think so.
Going Mobile
Donald’s never-ending product announcements. At best they fail. It’s just as likely they never appear, as I suspect will happen with the Trump Phone.
The Trump Mobile phone is nowhere to be found
A small-time family business like Trump’s, lacking any sort of technical proficiency, has zero ability to develop and deploy smartphones and mobile services. So, this is just another exercise in branding, with Trump’s name slapped on somebody else’s product. But Who?
Speaking of technology… I disabled WiFi on my phone, placing it on the LTE/5G network. When I opened the Verizon Home app, I shouldn’t have been able to log onto my router and see the devices on my home network. Except I can.
WAN Remote Administration is always enabled, at least when using Verizon Home. While I’m in the process of dealing with Verizon about this serious security vulnerability, I’m looking into options from replacing the router to installing a filtering bridge.
Interesting
Here we go again, with yet another negative outcome from interest rates being held too low for too long, since the financial crisis of 2008.
A negative outcome for Wall St. Week is the presumed departure of its regular contributor, Larry Summers.
Too Much and Not Enough
We are now in the Second Gilded Age, once again dominated by billionaires and scandals involving teenage girls.
True story, Word of Honor:
Joseph Heller, an important and funny writer now dead, and I were at a party given by a billionaire on Shelter Island.
I said, “Joe, how does it make you feel to know that our host only yesterday may have made more money than your novel ‘Catch-22’ has earned in its entire history?”
And Joe said, “I’ve got something he can never have.”
And I said, “What on earth could that be, Joe?”
And Joe said, “The knowledge that I’ve got enough.”
Not bad! Rest in peace!”
— Kurt Vonnegut in The New Yorker, 2005
Frontline has updated their “Born Poor” series.