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As this detailed Bloomberg article lays out, California's more progressive policies (especially on renewable energy and autos) are a major reason it has shown far better economic growth the past eight years vs the U.S. economy. Success on this scale has made housing prices even worse and that surely lends impetus to some leaving for states where they can find good paying jobs and affordable housing. It's a serious problem but not serious enough to change their successful formula .
Bloomberg - Are you a robot?
"Jerry Brown, California's longest-serving governor, takes the opposite approach, and his state thrives. California is the global leader among governments committed to safeguarding the planet from climate change. Corporate California's revenues from clean energy companies dwarf those of the other 49 states or any country. The state's auto emissions law, now contested by the Trump administration, is the nation's most stringent. The legislature voted to become a sanctuary state, preventing police from participating in federal enforcement or asking people about their immigration status. The same assembly also made California the first state to declare a $15-an-hour minimum wage and to require solar panels on new homes. Its citizens approved Proposition 30, temporarily raising personal income and sales taxes to fund education."
As much as members are well-served by a good understanding of international currency flows, current account status and such, I'm finding the discussion now to be more of a distraction than a further elucidation.
So - if you cannot keep it tied into Market Action, best to abandon it. Thank you.
So - if you cannot keep it tied into Market Action, best to abandon it. Thank you.
anthonyj
Stonks
MikeQ
Member
Economic growth is not the "be all and end all" measure of success. I spend a lot of time between San Jose and San Fransisco for work and would never want to live anywhere near those areas. My quality of life is MUCH higher in Florida in almost every respect.
Artful Dodger
"Neko no me"
Yup. Share Volume 1,531,492 as of 11:10 a.m.
The Market is waiting for the FED Chairman to speak (shortly after Noon EST).
Then we'll get a move, either up or down depending on the News.
CH3ERS!
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EVNow
Well-Known Member
Except, this myth is totally wrong.
Its funny when arm chair white collar workers call blue collar workers "lazy".
Indeed, and that is a setup for manipulation. Short selling hedge funds can push the price down through levels that trigger stop loss limits set by weak longs who are primarily day traders, resulting in a cascade like toppling dominoes. Then the hedgies cover their short positions and soon begin buying long before instigating the next cycle. Heavy volume would make this difficult for them.
That's anecdotal. Just like the statement: "the French startup I work for is 6 year-old and a global leader in its segment". Who cares?
Perhaps having the most protective work ethic and labour rules is antiquated but that doesn't make it worst in my opinion. From my French perspective, France is the most resilient Western society nowadays, and that explains some disadvantages. It probably depends on your time horizon.
jeewee3000
Active Member
Indeed. Investors took profits from yesterday's rally this morning and are now holding their breath till after Powell's speech. (In 30 minutes from now)
Best not to gamble on the direction the market will take after, could get ugly.
Maybe "No Change Now" will signal as good (not bad) news (for now) and we get a slight pop?
So my guess is up but not a day trader, just a long long (and without stops).
shrspeedblade
Rideshare Monkey
That "myth" exactly matches my experience in the trenches in a union environment plus the experience of others I have talked to and read about. Nothing is universal, but progressives (which many would label me) are not being completely honest with themselves with some of the fundamental flaws in labor unions in the United States today when paired with this highly litigious society. It probably stems in part from unions being strong contributors to Democratic candidates. We would completely agree I suspect that U.S. corporations now hold too much sway over national policy and have used it to harm organized labor, but to pretend that the decline isn't also linked to the way those unions have conducted themselves is to indulge in cognitive dissonance.
In regards to Tesla, in this forum of investors, that is why you see so much negativity in regard to unions. I can think of absolutely no way they would benefit the company at this point in their history, and am dubious that would be the case anytime in the future. There is only a litany of U.S. industries, companies, and civic governments to support this position.
There are many dedicated, hard-working, honest blue collar workers out there, but what modern unions are doing is betraying these people by protecting the awful ones at their expense. I've seen bad apples spoil the whole bushel basket, and I don't want it at Tesla.
Krugerrand
Meow
And this is what happens when you assume...
It’s not a myth. I’ve been a blue collar worker all my life, as has my spouse and most family members.
We’ve all worked in union and non-union shops. Witnessed the good and bad of both scenarios.
Unions (related specifically to factory/auto/steel/assembly/etc - can’t speak to teachers’ unions and the like) of the past 30+ years have and do promote lazy workers, the ‘I don’t have to do that because it’s not in my job description’ worker, the ‘it’s my break now so fu get someone else to deal with this emergency’, the seniority means I get to keep my job over a better, harder working worker every single time, the management is the enemy mentality and the company is out to screw us mentality, etc...
For future reference, I never talk about that which I don’t have first hand experience or extensive knowledge in, so feel free to save the judgement next time.
Drumheller
Active Member
Are you / the other moderators going to actually start vacationing people? I've been seeing warnings posted for months in this thread, but the thread continues to get noisier and less valuable. It's now a chore to scroll through pages of off topic posts every time I refresh this thread in order to find a valuable on-topic post.
Any recommendations for a place to see live updates on Powell's speech?
Ihor Dusaniwsky on Twitter
Ihor Dusaniwsky @ihors3
Ihor Dusaniwsky Retweeted Pete
There is no way to tell IF OR WHEN a $Tesla short squeeze will happen, there might just be a gradual decline in shares shorted as we are seeing now, or a severe price spike could cause covering in size, or the shorts may just stand pat as they have over the last couple of years
Ihor Dusaniwsky added,
Pete @PeterpsiPete
Replying to @ihors3
Do you have a projection of when you expect (if you do) a short squeeze for the losing #tesla shorts?
8:57 AM - 28 Nov 2018
Ihor Dusaniwsky @ihors3Ihor Dusaniwsky Retweeted Pete
There is no way to tell IF OR WHEN a $Tesla short squeeze will happen, there might just be a gradual decline in shares shorted as we are seeing now, or a severe price spike could cause covering in size, or the shorts may just stand pat as they have over the last couple of years
Ihor Dusaniwsky added,
Pete @PeterpsiPete
Replying to @ihors3
Do you have a projection of when you expect (if you do) a short squeeze for the losing #tesla shorts?
8:57 AM - 28 Nov 2018
shlokavica22
Member
shlokavica22
Member
In case you wondered what caused the spike in the market.
https://fm-preview.cnbc.com/applications/cnbc.com/resources/editorialfiles/2018/11/28/Fed Chairman Powell Speech NYC Nov 28 2018.pdf
"Powell now sees current interest rate level 'just below' neutral. No dangerous excesses in stock market."
https://fm-preview.cnbc.com/applications/cnbc.com/resources/editorialfiles/2018/11/28/Fed Chairman Powell Speech NYC Nov 28 2018.pdf
"Powell now sees current interest rate level 'just below' neutral. No dangerous excesses in stock market."
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