David Haase

husband & dad. ECIL farmer. BoD @farmcreditIL, @IL_Drainage, F-I Farm Bureau, & Iroquois West. Family farms, public ed & empirical science. 🇺🇸

[Stan @private_dataguy]

$PCT performs in the most demanding applications because the product IS virgin quality. Currently there are ZERO mechanically recycled resins that work in hinge applications (it is extremely tough!).

Like Bruckner for film, Stacktech is a gatekeeper in the injection molding space and brands look to them for assurance a product works as advertised.

Stacktech works with many of the large brands, and there is now exactly ONE resin that will meet regulatory mandates and have the product quality to work in hinge applications.

There are some hints/ interesting products listed on StackTeck’s website:

[The Kobeissi Letter @KobeissiLetter]

Wealth inequality in the US has never been wider:

The real wealth of the top 0.001% of US households has grown +3,500% since 1976.

At the same time, inflation-adjusted wealth of the top 0.01% and 0.1% has surged +2,200% and +1,200%, respectively.

By comparison, the average household has seen just a +200% increase.

As a result, there are now ~430,000 households worth $30 million or more, with ~74,000 worth over $100 million.

Meanwhile, ~72% of wealth for the top 0.1% is concentrated in corporate equities, mutual funds, and private businesses.

To put this into perspective, the bottom 50% of US households had more debt than assets for nearly 2 decades, with their average wealth turning positive after the 2020 pandemic, following stimulus checks and growing home values.

Asset owners are the only winners.

[David Haase @haase76]

@JLinvilleFert Prescient and true. Sadly true.

[Josh Linville @JLinvilleFert]

1. Google "where do you think the NH3 tons will be sent from CF's new blue ammonia facility"

2. We produce almost all the NH3 we need. We need more UAN and Urea. Farmers do not care if it is "green/blue/hydrogen produced".

3. I'm...actually on board with this one.

[Josh Linville @JLinvilleFert]

Not much to celebrate for farmers looking at their fertilizer. Continuing to pay an outrageous number of bushels to pay for it.

Urea has improved a lot from its high, but still overpriced.

UAN and phosphate are ridiculous.

Potash remains solid.

[Luke Gromen @LukeGromen]

"Professor, don't you find it curious that a new US-Iran peace deal leaks almost every time the 10y UST yield breaks 4.4% on the upside?"

"Actually, if I think about it, I don't find it curious at all."

[Marc Cohodes @AlderLaneEggs]

Crime Pays.. They orchestrated the squeeze by cornering the stock and sold into their own manipulation.Should not be allowed but there is no @SECGov so there ya have it

[Brian Willott Farms @BrianWillott]

They should change the name to "Strait of Schrödinger". It's both open and closed at the same time.

[Maria Davidson @MariaDavidson]

California's population grew 0.4% in the last decade.

The number of state employees grew 24.5%.

Total state spending grew 48%, inflation adjusted.

You have to ask - where did all the money go?

[Marc Cohodes @AlderLaneEggs]

I saw him play, truly a remarkable soul.

[BaseballHistoryNut @nut_history]

An oldie but still a goodie. This drone video of Northside Chicago and everything you’d love to see when it comes to Wrigley Field is so damn cool.

Best thing you’ll see today.

[Super 70s Sports @Super70sSports]

Sunday morning ritual. The kids today will never understand

[BaseballHistoryNut @nut_history]

In modern ballparks under modern rules, Babe Ruth would have hit 104 home runs in 1921

[Lyn Alden @LynAldenContact]

Still can’t believe they did this.

[Cassandra Unchained @michaeljburry]

Open Letter on Housing, Fannie & Freddie
@realDonaldTrump @pulte @SecScottBessent @FHFA @USTreasury $fnma $FMCC

We studied housing square footage per capita adequacy, and found that there is no problem there. The US in fact has more residential square footage per capita than any other country in the world. This is not a housing shortage, despite what so many say.

The problem is that bigger houses are inefficiently housing fewer people. The post-COVID low rate environment locked people into a lifecycle real estate position. Empty nesters can't sell, first time home buyers cannot buy. Second-hand home inventory is near all-time lows due to record low supply, not record demand. Prices are high due to the same reason.

Home equity is now a record $35 trillion, nearly doubling pre-COVID levels. 40% of homeowners own their homes free and clear - a record. And about 30% of all home buyers pay for homes without borrowing. Older homes were upgraded at a record pace during COVID, extending and refreshing the usefulness of residential real estate.

Artificially low interest rates, ~$6-7 trillion in helicopter cash and forgivable loans helped drive both the home updates and high housing prices.

Work from home moved the office into the home, often expensed or deductible. People with white collar jobs and means chose to live/work in exotic or remote locations.

All of this together does not speak of a housing shortage, or a housing problem.

Instead it is a problem of current residential space allocation and mobility, and this problem was created by government manipulation of interest rates, cash money supply, and COVID lockups that went on too long and changed work/home behavior.

Government created the problem and now maintains policies that prevent free markets from reaching a solution, not the least of which is keeping the GSEs inefficiently run while in conservatorship. Recall Pulte's video upon arriving at Fannie Mae - no one was in the office buildings. The companies have become atherosclerotic, inefficient government programs, while a decade of financial engineering optimized for homeowner wealth accumulation rather than housing market velocity/mobility/fluidity.

Government must fix this problem by facilitating efficient re-allocation of housing stock with higher housing velocity/mobility through the release of the GSEs into free markets.

This is a problem made for the GSEs. Through well-targeted programs, the GSE can help the free market find spaces to intelligently reallocate , and help US citizens with housing mobility.

Building more new overpriced, poorly built homes in increasingly dangerous flood zones and other hazardous fringe areas is not the solution. It adds to the problem through high maintenance burdens on new homeowners with little equity in their homes.

Rather, to build mobility/velocity of homeowners and housing space, the GSEs need to be recapitalized and retain easy access to capital markets. They also need to be run by real mortgage executives, not government functionaries.

To achieve this they need to exit conservatorship in a manner that excites markets to fund these companies, now with guidelines to prevent risk-taking outside of their purpose, and grow their purchases of mortgages of well-targeted specification.

I should have written this into the Recurrence piece itself.

[HiddenPivots @HiddenPivots]

My close pal is an executive with one of the worlds largest Agribusiness privately held companies told me at dinner that he has 4 ships sitting at the SoH and has insurance paid and fully covered but the captains are not willing to take the risk nor he wants them to do either..

[Super 70s Sports @Super70sSports]

Military experts later confirmed that Chuck Norris and Walter Payton together on the same boat was temporarily the world’s fourth-strongest navy.

[Carl @HistoryBoomer]

It’s cool that Salman Rushdie has outlived 2 Ayatollahs.

[Luke Gromen @LukeGromen]

Nah...you just have to convince them "gold is a useless pet rock" so they don't notice that since 1966 the DJIA is up 5,463% in USD terms but down 62% in gold terms over the same time frame. 👇🤯😉

[zerohedge @zerohedge]

It got lost in the news firehose, but this is the craziest chart today, and maybe this decade