Is Zuckerberg Cancelling His Fight with Musk?

 

Best Weekend Tweets: China, Euphoria Dysfunction, Hard Landing, Energy, Inflation, Auto Loans

August 13, 2023

Here are a few Tweets that caught my eye this weekend.

Is Zuckerberg Cancelling His Fight with Musk?

🚨JUST IN: Is Zuckerberg Cancelling His Fight with Musk?

The impression we're getting from Mark Zuckerberg is that he's considering ending the highly anticipated fight with Elon.

Zuck used his defunct Meta clone app to express, "I believe we can all acknowledge that Elon isn't… pic.twitter.com/LVgbtFGlJq

S&P 500 Volatility

Buckle up for the most volatile time of the year from a seasonal perspective.

Here’s a chart showing the S&P’s average absolute daily % change over the course of the year: pic.twitter.com/5flMWqmqYh

Inflation and Productivity

I’m thinking the underlying inflation picture isn’t quite that rosy with hourly earnings growth outpacing hourly productivity by closer to 5pct: https://t.co/MlQK6POKio

FDI in China slumped to the lowest level since at least 1998.

OUCH! FDI in #China slumped to the lowest level since at least 1998. pic.twitter.com/IESGLHAjpA

Consumers Pulling Back on Meat

Consumers pulling back on meat https://t.co/9T7N3Ooyif

Car Financing

"The share of consumers who financed a vehicle with a monthly payment of $1,000 or more reached a new all-time peak of 17.1% in Q2, up from 16.8% in Q1 2023 and 4.3% in Q2 of 2019." – Edmunds https://t.co/i32sjCfGby

“The share of consumers who financed a vehicle with a monthly payment of $1,000 or more reached a new all-time peak of 17.1% in Q2, up from 16.8% in Q1 2023 and 4.3% in Q2 of 2019.” – Edmunds

CAPE – Cyclically Adjusted P/E Ratios

“Based on a CAPE of 30.82, the ten-year expected total return is 2.35%. – Over the last 150 years, investors faced with CAPE valuations over 30, as they are, were almost always better off buying the ten-year U.S. Treasury.” $TNX 4.08% https://t.co/YPDWr9Ea6c

Euphoria Dysfunction

Stocks are suffering from ED right now ("Euphoria Dysfunction")

When a rally gets this mature, the S&P just can't keep the euphoria up

Every day, it rises at first & then slumps into a flaccid state

Please don't snicker. This problem happens to a lot of markets. pic.twitter.com/AAjVnOTLzT

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Thanks for Tuning In!

Mish

Mike Shedlock

Foreign investors escaped China and Israel.

Your thoughts on if the false charges of the Russia Gate an the withholding of the Hunter computer and the sensoring of Facebook Google Twitter postings would probably resulted in a Trump victory and all these subsequent charges would never have happened.

It might have
Very difficult to say

But if instead of pissing an moaning about ballots, had Trump encouraged Republicans to vote early, that might have done it too.

And if instead of pissing and moaning about the loss, Trump likely could have turned two Senate Seats in Georgia.

And extremely poor Trump choices in AZ and Pennsylvania certainly cost Republicans the Senate.

Trump is overwhelmingly to blame for the last election.

While you are right at the end of the day, each of us is ultimately responsible for our own outcomes, it’s a lot more difficult to do the right thing when Satan and 10000 demons are constantly attacking you and your fans from every angle. Trump never got any time off from the democratic demonic attack. No president in history has ever had to put up with this level of dirty tricks and lies and misdirection and cheating before during and after his presidency. Nobody who is trying to make things better, I mean really trying, should ever have to put up with what trump and his family endured.

Adam, when investors were certain that SPX July 1M will close > 4,605.37, wall
street whales dumped MSFT and AAPL.

““The share of consumers who financed a vehicle with a monthly payment of $1,000 or more reached a new all-time peak of 17.1% in Q2, up from 16.8% in Q1 2023 and 4.3% in Q2 of 2019.” – Edmunds”

A clear sign that people are being paid too much. So why the strikes for more, more, more?

UPS has a contract on the table that will pay DRIVERS, who do nothing more intellectual that read an address and deliver the package to that address, up to $170k/year!

Writers get $4200/week minimum and seniors get $7500 minimum. But it isn’t enough.

Too much pay is what is driving inflation, not the reverse!

Methinks you’re neglecting the 3 massive waves of pandemic stimulus that Mish has frequently discussed…

LOL. Too much money printing is driving inflation. People who pay $1000 for their vehicle are probably planning on living it in some day.

And speaking of making damn good money but seemingly always complaining that they hate their jobs, we have MD’s.
——-
Doctor salaries under fire after Washington Post report
Aug 11, 2023
Todd Shryock
Richard Payerchin

A Washington Post data analysis that it published last week ( https://www.washingtonpost.com/business/2023/08/04/doctor-pay-shortage/ ) has created quite a stir. The analysis looked at more than 10 million tax records from 965,000 physicians over 13 years through 2020 and came to the conclusion that the average physician salary is $350,000.

But the author notes that the number accounts for ALL streams of income, meaning that figure would include side hustles and investment proceeds.

The report notes that between the ages of 40-55, the average physician made $405,000 in 2017, with 94% from wages. The top 10% of docs average $1.3 million, with the top 1% making $4 million, but 85% of that, the report states, came from business income or capital gains.

According to the 2023 Medical Economics Physicians Report, for comparison, the average 2022 salary for a family physicians was $245,000, while the Post puts the figure at $230,000. Internal medicine is $253,000, compared to the Post’s $278,400. Medical Economics’ survey is based on data provided anonymously by physicians, while the Post’s relies on tax records.

https://www.medicaleconomics.com/view/doctor-salaries-under-fire-after-washington-post-report

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