Does anyone remember this amazing story? On July 2, 1982, a truck driver from California flew 16,000 feet into the sky in a lawn chair. Larry Walters, 33, from San Pedro, had dreamed of flying his whole life. He bought 42 eight-foot helium weather balloons, tied them to a regular Sears lawn chair, strapped on a parachute, packed a BB gun to pop balloons to descend, a CB radio, sandwiches, and a six-pack of beer.
He expected to float a few hundred feet above his backyard. He cut the rope and shot up like a rocket — to 16,000 feet. He drifted directly into the main approach path for LAX. Two airline pilots radioed the tower: they had just passed a man in a lawn chair holding a gun at 16,000 feet. For 45 minutes, he floated over Los Angeles, freezing cold, too scared to shoot balloons because he might fall. Finally, he started popping balloons one by one and slowly descended.
He landed tangled in power lines in Long Beach, California, causing a blackout. When police arrested him, they asked why he did it. He said, "A man can't just sit around." The FAA fined him $4,000. He became a national folk hero — Lawnchair Larry — and inspired the movie Up.
Stan Druckenmiller told Scott Bessent exactly what it would take to stop Washington from spending: "the clowns in Washington - unless they get a signal from the bond market, they're just going to keep spending"
this is him explaining the arithmetic nobody runs on corporate America, why he went from 93% invested to flat over a single Trump tweet, and what he says the Fed has actually built over the last ten years
"when the Trump tweet went out I went from 93% invested to net flat. not because I'm trying to make money - I just don't want to play in this environment"
"corporate debt went from $6 trillion to $10 trillion. profits went from $1.7 to $2.2 trillion. and the interest cost on that extra $4 trillion only went up 23%. you'd think profits would explode with that formula. they went up 29% - over eight years"
"we have all these zombies walking around. the most innovative period since the late 1800s, and you're hardly seeing bankruptcies - because there have been no market signals from the Fed"
"if I were trying to create a deflationary bust, I would do exactly what the world central banks have been doing"
bookmark & watch the full conversation - then read the article below ↓
@CollinRugg what a joke - nice stageshow after the event. They had the Archer barriers but kept them in storage for safe keeping??😅Bravo...
"Hardening THE target"?? as though there was only that target.