Down 13% YtD.
I don’t think we’ll see new highs until 2024. Just gonna bounce around.
Jerome Powell: “Restoring price stability will likely require maintaining a restrictive policy stance for some time,” Powell said Friday in remarks at the Kansas City Fed’s annual policy forum in Jackson Hole, Wyoming. “The historical record cautions strongly against prematurely loosening policy.”
He said restoring inflation to the 2% target is the central bank’s “overarching focus right now” even though consumers and businesses will feel economic pain. He reiterated that another “unusually large” increase in the benchmark lending rate could be appropriate when officials gather next month, though he stopped short of committing to one.
Student loan debt relief
The president’s plan cancels $10,000 in federal student-loan debt for borrowers making under $125,000 a year or couples making less than $250,000 a year. In addition, those who receive federal Pell Grants and make less than $125,000 a year would be eligible for total forgiveness of $20,000. But the plan doesn’t attempt to rein in college tuition, which has outstripped inflation for decades.
From Whitehouse: “Of the 43 million federal student loan borrowers eligible to benefit, about 20 million will have their debt completely eliminated, according to White House estimates, with 90% of help going to those who earn less than $75,000 a year.
Ultimately, the average cost of tuition has increased more than 144% since 2001 on average, even after accounting for inflation.
- It's not “fair”. Nothing is though!
- The bigger issue is it doesn’t fix the underlying issue. Let markets drive supply/demand.
- Literature/history major.
- Optometrist example.
- Need to fix underlying issue: University costs are rising faster than cost of living and fueled by college administrators that are incentivized to encourage students to borrow.
- We should used a market-based approach to student lending. Universities should be on the line. Should approve. Market based. Grades and Major.
- Some states are going to levy taxes on forgiven debt.
- Not competing in US open because he’s not vaccinated.
- So many people are getting Covid, including the CEO of Pfizer.
- 20 million households across the country—about 1 in 6 American homes—have fallen behind on their utility bills.
- California Switch to electric vehicles by 2030.
- Tesla Stock split. 900 to 300.
- Tesla 10.69.2 set to release in a couple of weeks. “Wide Beta” version.
- FSD price increased to $15k. Very bullish.
- Investment grade rating.
- Record Q3 and Q4 deliveries and profits.
- Semi release in Q4 and CyberTruck in 2023.
- Continued ramping of factories and likely announcement of new Giga.
- Macro-level: Energy prices driving Solar consumption.
- Tesla Virtual Power Plant program.
- House of the Dragon. Meh. And HBO renewed it.
- Hand Maids Tail.
- Rings of Power? $250m for rights. $500m to make.
- Rory and Tiger