Author Archive: Stephen Green

ANALYSIS: TRUE.

Everybody knows that Joe Biden’s “Don’t” is just his opening bargaining position and that he’ll give it up at the slightest sign of resistance.

BEEGE WELLBORN: I Don’t Want to Hear Noem-Or ‘VP’ Talk About These Two, M’kay?

Yeesh. Sometimes I think Republicans are just so desperate for a pretty face that doesn’t mean tweet, they’ll fall all over themselves elevating – and defending – the exact opposite of what they supposedly want. They get cleaned bowled over by a bad case of goo-goo eyes.

This business with the Dakota Darling Duo – Doug Burgum and Kristi Noem – being serious Vice Presidential contenders strikes me as one of those times if you check out the chatter in comment sections.

If some of you remember, I did a dive into Doug Burgum last fall after seeing the folksy, imminently approachable “regular farmer guy” no one had ever heard of during the first presidential candidate debate.

Like, who was he? I’d never heard of him.

God dang, people. All it took was about two seconds to find out he could easily be “Eat the Bugs” Burgum, judging by the close friends he runs with.

I will not eat the bugs.

HMM: Biden’s National Guard Power Grab. “Calling it a ‘power grab,’ Gov. Greg Abbott (R-Texas) has expressed his opposition to the Biden administration’s proposal to transfer members of the Air National Guard to the Space Force without the permission of state or territorial governors.”

HOW IT BEGINS:

How it ends:

YES. NEXT QUESTION? Did NYC Just Kneecap Airbnb? “I live in Bed-Stuy, too. When my large family visits, they typically stay at an Airbnb townhouse that’s 0.6 miles away from my apartment. I priced out how much they would need to spend for a comparable stay at a decent hotel—putting them two to three miles away, since Bed-Stuy has very few decent hotels — and it was double the price. Many others have chimed in with their personal stories of how short-term rentals have made trips to New York feasible for their families. If every visit becomes twice as expensive, why would anyone come to this rat-infested metropolis?”

#RESIST: Prison Guard Resigns After ‘Immoral, Dangerous’ Trans Policies. “At the peak of his career as a correctional lieutenant inside the California Prison system, Hector Bravo Ferrel couldn’t take anymore. Things became dangerous and unethical, he said, after the state passed SB 132, a law that required prison guards to transfer convicts from the men’s prison to the women’s prisons. The law also allowed male inmates who identify as women to demand they be searched—in the nude—by female prison staff. Ferrel walked away from his stable, lucrative career to blow the whistle on “backwards” policies inside the correctional world that he says put female prison staff and inmates at risk.”

DECOUPLING: US revokes some export licenses for China’s Huawei.

The move comes after the release last month of Huawei’s first AI-enabled laptop, the MateBook X Pro powered by Intel’s (INTC.O), opens new tab new Core Ultra 9 processor.

The laptop launch drew fire from Republican lawmakers, who suggested the Commerce Department had given the green light to Intel to sell the chip to Huawei.

The revocations come after a years-long review of the U.S. policy on what U.S. goods and technology could be shipped to Huawei, a flagship Chinese company viewed as a national security threat.

They could hamper Huawei’s recently resurgent revenue, and also hurt U.S. suppliers that have been allowed to do business with the company.

Nobody ever said decoupling would be easy, cheap, or fun.

SOMEBODY GETS IT:

The funny part is that Code Pink made and posted this video as if it’s some kind of burn on Mast.

BUT THEY’RE FROM THE GOVERNMENT AND THEY WERE HERE TO HELP: Chemicals in car interiors may cause cancer — and they’re required by US law.

Approximately 124 million Americans commute each day, spending an average of an hour in their cars.

By federal law, the interior of these vehicles are required to contain flame retardants, or chemicals that make it harder for them to combust in a crash.
These chemicals have been a legally mandated part of modern cars since the 1970s, when the National Highway Traffic Safety Administration (NHTSA) passed a law requiring their use.

It’s arguable how effective this protection is.

Patrick Morrison, of the International Association of Firefighters, said in a statement on the study that these chemicals do little to prevent blazes — but instead simply make them “smokier and more toxic.”

What the study conclusively demonstrates is that any such protection comes at a price… All three chemicals are linked to reproductive and neurological problems — particularly because they don’t stay in the fabrics they’re woven into.

“There are no solutions. There are only trade-offs,” the wise man once wrote. The problem with the government’s heavy hand is that it mandates simple solutions while ignoring complex trade-offs.

KRUISER’S MORNING BRIEFING: Stormy Weather — Merchan No Longer Biggest Sleazebag in His Courtroom. “I can assure you that tawdry isn’t a regular part of my vocabulary. In fact, I don’t think it’s ever even popped into my head unless I’ve just read it somewhere. These perverters of justice who are going after Trump are some major league scumbags, though.”

HMM: Warren Buffett’s $56 Billion Silent Warning to Wall Street May Portend Trouble for Stocks.

Although Warren Buffett has consistently shied away from offering negative takes on the U.S. economy and/or stock market during his nearly six-decade tenure as CEO of Berkshire Hathaway, $56 billion of net-equity security sales over an 18-month stretch speaks volumes without the Oracle of Omaha having to say a word.

The culprit for this consistent net-selling activity looks to be a historically pricey stock market and the irrational behavior of some of its participants.

In Buffett’s annual letter to shareholders that was released in February, he had this to say about the “casino-like behavior” he wants no part of:

“Though the stock market is massively larger than it was in our early years, today’s active participants are neither more emotionally stable nor better taught than I was in school. For whatever reasons, markets now exhibit far more casino-like behaviors than they did when I was young. The casino now resides in many homes and daily tempts the occupants.”

At the end of the day, Warren Buffett and his team want a fair deal on a great business, and they aren’t willing to waiver from this ideal. As the S&P 500’s Shiller price-to-earnings (P/E) ratio shows, there simply aren’t many good deals at the moment.

There’s nothing wrong with buying into a bubble, provided you know when to get out. Buffett has exited to the tune of $56 billion.

INFLATION, ONCE UNLEASHED, IS DIFFICULT AND PAINFUL TO REIN BACK IN: The Fed just dashed hopes for lower mortgage rates. What homebuyers need to know.

So far, the MBS roll-off has lagged the Fed’s $35 billion cap because of the slower housing market. They’ve been hovering at $15 billion per month, Fed Chair Jerome Powell said after the Fed’s policy meeting last week.

But if sales accelerate in the spring-summer buying season, homebuyers could see an uptick in mortgage rates. The more likely scenario, though, is that mortgage rates just won’t drop, financial and real estate experts said.

“Lower mortgage rates continue to feel more out of reach in this perfect storm of persistent inflation, rising treasury yields, and the Fed’s continued run-off of its MBS holdings,” Orenstein said.

Plus: Fed may need to hold rates steady all year, Kashkari says.