Stanley Druckenmiller renders an unfavorable opinion of Treasury Secretary Scott Bessent's use of buybacks to defend against higher yields in a market that is functioning normally.
"I have spent five decades trading on a simple premise: Markets aggregate information no committee possesses, and prices are how that information reaches decision makers. The long-term Treasury yield is the most important price in the world. It is also the only fiscal disciplinarian the U.S. has left."
"Every basis point of artificial yield suppression is a subsidy to procrastination."
"Return buybacks to their stated purpose: small, scheduled, off-the-run liquidity operations announced at quarterly refundings, never off-cycle responses to yield levels. Term out the debt honestly and pay the price the market sets."
"If the 30-year must trade at 5.5% to clear, that isn’t a crisis. It is an invoice. Then do the only thing that durably lowers long-term yields: address the primary deficit."
https://t.co/Xe8Vi38WiI
The more nonsensical and obviously absurd a belief is, the more people who hold it (or pretend to) will resist recanting. The potential for humiliation rises in direct proportion to the ridiculousness of what they've publicly swallowed. They see no choice but to double down.
If you want to know why ridiculous conspiracy theories are so popular, it's because the media, the government, and big tech all worked together to crush reasonable dissent. And they did it in defense of lies. Alternative theories, no matter how insane, are now treated as better explanations by default — and that fact is being exploited by shameless grifters for views and clicks.
This… a once in a lifetime shot, ground lights illuminating the wings of the Blue Angels and the noses of the Thunderbirds performing the Super Delta formation. 🥵💪🥳😎
Voyager 1 is 24 billion kilometers from Earth.
It communicates with us using a 23-watt transmitter.
Less than a refrigerator light bulb.
The signal takes 22 hours to reach us, traveling at the speed of light.
By the time it arrives, it's 20 billion times weaker than the power of a digital watch battery.
NASA's Deep Space Network picks it up using 70-meter dish antennas cooled to near absolute zero to reduce electronic noise.
The engineering required to hear a 23-watt signal from 24 billion km away is arguably more impressive than the spacecraft itself.
Launched 1977.
Still transmitting.
Still being heard.
We built something that works perfectly, 47 years later, in conditions no one has ever tested in.
That's what engineering for the long term looks like.
The murder of Stephanie Minter in Fairfax has turned into an unbelievably massive scandal.
A newly released email shows that the Fairfax Police Department warned Commonwealth Attorney Steve Descano's office this past November about releasing illegal alien repeat offender Adbul Jalloh back into the community.
They said "it's not a question of if, but when he will maliciously wound (or worse) again." And they were right. He murdered Stephanie Minter at a bus stop last week.
Steve Descano and Abigail Spanberger have blood on their hands.
“For all the young people out there, those dreams are formed now. Go chase them and go get them, because our country loves sports and it brings us together unlike anything else. And if you didn’t know that…you saw it in Team USA Hockey”
What a signoff from Tirico just now🇺🇸
I'm working my way through all of the tape for the combine invites. This draft is excellent at DL and WR. Not a stacked QB/RB draft. FA/trade might be the way to go at those positions.
Congratulations to the @USMC for again earning a clean financial audit – proof of a culture built on discipline and stewardship. It’s great to see a service treating every dollar like it’s their own and managing it responsibly for the American people.
When we account for it and invest it with purpose, we boost readiness, build trust with taxpayers, and the Marines remain the world’s most lethal amphibious force.
trump for months has wanted maduro out, strongly opposes boots on the ground.
he has accomplished both goals with a risky and successful special forces raid…and will take credit for removing the dictator and bringing him to justice.
with no meaningful action in response taken by other countries in the region, or outside.
@burgwx It happened last night in Fairfax Co, Virginia too. It wasn’t showing up on the radar I saw(or the forecast), but we got a solid 1/2 inch my my estimate the AM