To The Moon

News and my thoughts from the last week (29 Apr 2024)

• TSMC pushed back initial manufacturing at its first Arizona factory to 2025 from this year, saying local workers lacked expertise in installing sophisticated equipment. TSMC said the second plant wouldn’t produce chips until 2027 or 2028. - NY Times

• Exxon Mobil Corp. plunged the most in six months after higher-than-expected maintenance costs diminished oil-refining results. - Yahoo Finance

• The Houthis resumed their attacks on shipping Wednesday after a break of more than two weeks, targeting another US military-linked vessel, Maersk Yorktown. More than 80 attacks on merchant ships have been claimed since November last year. - Splash247

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Core PCE price index rose 0.32% in March and was up 2.8% from a year earlier January's gain of 0.45% was revised to a gain of 0.50%. The 6-month annualized rate of core PCE inflation held steady at 3% in March The 3-month rate was 4.4%, up from 3.7% in February - X user Nick Timiraos

• First quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.6% during the period, missing the 2.5% growth expected. Meanwhile, the "core" Personal Consumption Expenditures index grew by 3.7% in the first quarter, - Yahoo Finance

• Safety and security are basic needs and expectations. People would move from such places to safer places for their families if their work allows.

• BYD has more people in R&D than the rest of the auto industry outside of China, COMBINED. And we are starting to see what they’ve been up to. X user Taylor Ogan

• JUST IN: President Biden pushes 44.6% capital gains tax. The highest capital gains rate ever in the USA.

• Apple reportedly cuts Vision Pro production due to low demand - The Verge

• Tesla can be a good indicator of cyclical market conditions.

• $1.13 trillion in credit card debts at about 22+% interest rate with a total consumer debt of above $17T. Would this be a factor or potential pitfall? Are we in a debt spiral?

• How can we invest knowing the coming infrastructure failures in America? How can we protect our families from these?

• People are becoming credit card delinquents. This surged to 6.4 per cent in the fourth quarter, up from just over 4 per cent at the end of 2022 and the highest level in more than a decade. 

• BREAKING: A building in San Francisco just traded hands at a shocking 90% 'discount' 995 Market St was acquired for $6.5M ($72 SF) at a public auction on April 18 The previous owner paid $62M in 2018 Office in SF has been apocalyptic and remains challenging for the foreseeable future - X user Triple Net Investor

• Total household debt rose by $212 billion to reach $17.5 trillion in the Q4 of 2023. Credit card balances increased by $50 billion to $1.13 trillion over the quarter. - New York Fed Org

• What are the consequences of the end of the BTF program? Are there banks that need such support? How much of the loan has been repaid? - Financial Express

• The U.S. crime rate is still dropping, FBI data shows How much crime is underreported by underfunded police in different cities? - NBC News

• China will account for about 21 percent of the world's new economic activity by 2029, compared to 20 percent from the entire G7, and almost double the nearly 12 percent for the U.S. - CGTN News

• Citigroup’s deposits saw a reduction of $23.3 billion in 12 months. Meanwhile, deposits at Wells Fargo dropped by $15.1 billion over the same time frame. - DailyHodl

@TigerStars

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