I imagine some sort of sixty nine position. Major safety hazard but you get to charge extra. Uh, I mean…I have to pay extra

---

>The difference between microeconomics and macroeconomics is that microeconomists are wrong about specific things, and macroeconomists are wrong about things in general. This is further evidenced by the fact that macroeconomists have correctly predicted nine of the last 5 recessions. Shamelessly stolen from Yoram Bauman https://m.youtube.com/watch?v=VVp8UGjECt4

---

Big difference between 100 billion and 2 TRILLION. Elon could liquidate everything and would still be one thousand nine hundred billion dollars short.

---

I want my cake, wanna eat it too, I want the stars, the silver moon. I spend my money on lottery, my fav'rite number is six, nine. 🎶

---

Nine months of pain followed by this rally. Insane. The full impact of rate hikes hasn’t even been felt yet and inflation is still very high.

---

LOL. It' the reason why AAPL moved to China in the first place. "Apple's executives had estimated that about 8,700 industrial engineers were needed to oversee and guide the 200,000 assembly-line workers eventually involved in manufacturing iPhones. The company's analysts had forecast it would take as long as nine months to find that many qualified engineers in the United States. In China, it took 15 days." https://www.theatlantic.com/business/archive/2012/01/why-the-united-states-will-never-ever-build-the-iphone/251837/

---

U.S. Government to Backstop Mortgages Above $1 Million in High-Cost Areas Highest limit applies to most expensive regions; level also set to rise in rest of the country, reflecting increased home prices Andrew Ackerman Updated Nov. 29, 2022 at 1:45 pm ET Why Housing Can Skew Inflation Numbers Why Housing Can Skew Inflation Numbers Why Housing Can Skew Inflation Numbers Housing is one of the most weighted categories when tracking inflation, but it is also one of the most complicated to measure. WSJ’s David Harrison explains how the shelter index is calculated, and why it can muddy the inflation outlook for the Fed. Illustration: Laura Kammermann WASHINGTON—The federal government is about to backstop mortgages of more than $1 million for the first time in high-cost markets, such as parts of California and New York. The maximum size of home-mortgage loans eligible for backing by Fannie Mae and Freddie Mac will rise to $1,089,300 next year in a few expensive markets, from $970,800 this year, the Federal Housing Finance Agency said Tuesday. For most parts of the country, loan limits will rise to $726,200 from a 2022 maximum of $647,200, said FHFA, which oversees mortgage-finance giants. By law, loan limits are calculated annually using a formula that factors in average housing prices. In all, about 100 counties and county equivalents, out of more than 3,000 across the U.S. are designated as high-cost markets, also including some in New Jersey, Virginia and Utah, according to the FHFA. SHARE YOUR THOUGHTS What impact do you think the increased government-backed mortgage threshold will have on the housing market? Join the conversation below. The increase may make it easier and cheaper for borrowers purchasing one-unit homes, particularly those near the limits. The higher limits are also likely to renew a debate about how big of a mortgage is too big to be backed by the government. Mortgages within the limits are called conforming loans, and they generally come with lower closing costs and can require a smaller down payment than mortgages that exceed the limit, known as jumbo mortgages. Whatever relief higher loan limits may offer home buyers is likely more than offset by the higher interest rates and home prices, which have cooled the housing market. Existing-home sales have fallen for nine straight months through October, according to the National Association of Realtors. Mortgage-interest rates have risen rapidly this year, cracking 7% for the first time in two decades. Many prospective home buyers have been unable to qualify for loans or had to cut their purchase budgets after higher rates pushed up their expected monthly costs by hundreds of dollars. The median sales price of an existing single-family home was up 8.6% in the third quarter from a year earlier, the Realtors association said. Prices had increased at an even faster rate in recent years, as demand for homes surged during the pandemic. Fannie and Freddie don’t make loans. The companies, which have been under government control since 2008, instead buy mortgages from lenders and package them into securities that are sold to investors. Policy changes at the companies are important because their role in backstopping roughly half of the $13 trillion mortgage market helps determine who gets access to mortgage credit and on what terms. When loans qualify to be purchased by Fannie and Freddie, it allows them to be securitized in a market that appeals to a global pool of investors, allowing the loans to carry lower interest rates than they might otherwise. However, for much of the postcrisis period, jumbo loans have been priced better than conforming loans partly because banks see them as valuable for attracting wealthy customers who they can do other business with, industry officials say. Mortgage bankers and real-estate agents say the new limits are needed to reflect higher home prices. Fannie and Freddie’s loan limits “need to keep pace with home prices to address affordability,” said Anthony Lamacchia, a broker and owner of a real-estate company near Boston. The headquarters of Fannie Mae, which backstops along with Freddie Mac about half of the U.S. mortgage market.Photo: KEVIN LAMARQUE/REUTERS In pricey markets, even starter homes can fetch seven-figure prices. In a 2022 housing survey, the California Association of Realtors found that nearly one-quarter of the homes sold between $1.25 million and $2 million were bought by first-time home buyers. The figures were slightly higher in the San Francisco area and in Southern California, the group said. Some housing-policy experts say the jump in loan limits raises questions about whether taxpayers should effectively backstop high housing prices. Fannie and Freddie’s market share rose significantly during the pandemic to more than 60% of new loans, according to the Urban Institute, a Washington think tank that conducts research on economic and social policy. “Maybe the loan limit actually exceeding $1 million will get somebody’s attention and at least provoke a much needed policy discussion about the government’s footprint in the mortgage market,” said Ed DeMarco, a former top FHFA official who is now president of the Housing Policy Council, a housing-industry trade group that generally favors boosting the role of private capital in the mortgage market. Housing affordability won’t be truly tackled until a long-term supply shortage of new homes is addressed, he added. Critics of Fannie and Freddie’s large role say borrowers who can afford million-dollar mortgages should be able to finance a home without government-backed financing.

---

Any of you tards into Bad Omens or Ice Nine Kills? I have pics of Bad Omens from 2018, when I saw them open for Parkway Drive, and I have a promo poster for The Silver Scream, signed by the entire band, that I got signed at a meet and greet at Warped Tour in 2018 as well.

---

Mad drama at badminton tonight. Had to give my buddy a ride home because his ride went apeshit calling us regards and threw his racket on the floor Forced him to listen to Nine Inch Nails. My car, my rules

---

So nine of twelve Fed members voted for 75bps last month and we moon. Stop trying to make the pivot narrative happen.

---