remember to salt the fries 🍟☑️

Israel's starting another war

Chart showing $CRWD free cash flow and stock-based compensation, both as a percent of revenue

Look I'm not a tech investor but it sure seems like $CRWD is just an exercise in "maybe shareholders will ignore all dilution?" rather than a candidate for AI disruption. Over the last five quarters, FCF almost exactly matches SBC. In other words, when you account for dilution, FCF per share = 0.

Note well: there are critics of Warsh, but their voices are fewer than I would have expected given Warsh's history and the moment we are in with the Fed. Also, public criticism is important. Warsh still has a confirmation hearing. He deserves one as biting as Shelton's was.

I find the lack of criticism of Warsh, especially from the New Keynesian macroeconomists, bizarre. There are hints of criticism from former Fed officials: it is not a compliment to have people say you are confused about your signature policy proposal. I hope I am wrong in my concerns.

American Century of Humiliation is manifesting in ways I did not predict.

Japan LLC has been trading its way out of a fiscal hole Long stocks, short yen, chillax

Japan isn't as extreme an outlier as they look on paper, which is interesting

giftarticle.ft.com/giftarticle/...

this Mars> Moon pivot actually is a big deal for Elon because he usually avoids anything resembling a climb-down, as they tend to be bad for confidence games

this suggests he is struggling to pull it off

Flying to NYC with a router checked in my suitcase, because that's what you do when you're getting shit done as the security person for a startup.

email exchange between Jeffrey Epstein and Kathy Ruemeller, rendered by jmail.world. Jeffrey: Dealing with bob kraft Kathy: He can deal with his own shit.

In honor of the Patriots losing / Seahawks win.

ICE COLLABORATORS

Retire and make room for someone who isn't a collaborator at heart

Cool, I'll keep them in mind for value cookware!

Are they good?

Co-conspirators to murder w/ possible death penalty are getting antsy

Will you endorse a Federal death penalty case against the perpetrators and their co-conspirators (Bovino, Noem, Miller, Homan, Trump, etc.)?

Do I know anyone in a city that has Cava who would like to mail a bunch of bags to protesters in Minneapolis?

Resign and let someone more credible take your seat

HC canister

The feds deployed HC in Portland tonight and heavily gassed people and a neighborhood over people standing in a driveway that wasn’t even being used.

They are all murderers.

When you're involved in a conspiracy to murder people, it's not just the gunman who gets a murder charge.

Didn't realize that Taiwan controls some islands that are not realistic for them to hold on to given current geopolitical circumstances.
The US is not going to do anything if the PLA lands on Pratas Island.

Federal murder + conspiracy charges + felony murder rule + Tison v. Arizona + no statute of limitations = mass death penalty charges for ICE agents?

Our day will come

The new left will need these facilities for national reconciliation

Omni has wet leased to major airlines in the past

And here’s an Omni jet landing in Equatorial Guinea yesterday. This is very likely a third-country removal to a torture prison, the second in a week and the third there overall.

Marco Rubio paid off their dictator using humanitarian funds.

for your information

This graph isn't perfect, but I think it partially maps to a very difficult problem for the current authoritarian regime. There's so much noise and discontent that it has to be nearly impossible to sift out semi-real things that they'd want to focus on.

How many ICE co-conspirators do you plan to prosecute and execute?

One of the risks to both US government bonds and the dollar is that much of the rest of the world is already de facto “overweight” on them.It’s in this context that headlines like the one below are not helpful even if this specific Danish fund’s Treasury holdings are minimal
#economy #markets #bonds

I used to not understand why Scott Bessent, who’s clearly a smart guy, would go along with Trump‘s insanity

I mean he’s a hedge fund manager! It’s not brain surgery, but he has a track record of excelling in a real job, which is rare for MAGA

Wait, what IS his track record as a hedge fund manager?