Meridian's 12th letter is here.
We cover Indonesia's fiscal state on this letter. Free meals, defense, and subsidies, together consuming 24% of total expenditure. The 2025 deficit came at 2.92% of GDP, the highest non-pandemic reading in two decades, just 8bps from the legal ceiling. The short-term numbers are looking surprisingly good. But a budget you can't cut is a budget waiting to break.
Moving on, we've repeatedly asked, where is the bottom? Perhaps we finally have an answer. Using two independent approaches, calculus-based framework and max pain indicator, we arrive at a similar conclusion. While, for the country's sake, (for the first time) we hope our model is wrong, but this is where the data leads us. $IHSG
Read our latest letter through the link below:
https://t.co/00YJKxPJom
#MeridianResearch
@jjhoonholic@idextratime Harga bbm tuh hrs udh naik dri 2/3 bulan lalu waktu perang iran, udah ditahanin pemerintah sampe anggaran mau jebol ga bersyukur. Goblok bisanya bacod mulu
Moses Moody spoke to reporters last night about his patella injury
-He said type of tear was best-case scenario: “Straight from the bone.”
-His knee has been bothering him since high school and “it’s all been patella tendon, so I’m glad to get it fixed.”
Full sound
Rookie Will Richard on the conversations he had with Steve Kerr when he was taken out of the rotation:
“Steve was very transparent with me… I didn’t take [the benching] to heart or anything, I just knew I had to be ready for my opportunity when it came back around.”
Steve Kerr, up 22 with three minutes left, lit into Buddy Hield and then yelled at everyone on the bench about ball security. Warriors had 21 turnovers tonight.
"We know if we want to compete at the highest level we have to be a lot better."
I think we weren’t actually talking to Nous, at least not during part of the conversation. Let me explain:
1. This text here says “not real” if you flip it
1/5
@MurtadhaOne1 Komen"nya ya ampun 😅,
Kenapa gibran ga ikut ? Ya kali presiden & waper ber 2 keluar indonesia
Harus salah satu ada stay di indonesia,
Wapres sebagai perwakilan prabowo selama prabowo pergi.
Pasti banyak yg ga suka, tpi ini fakta lah 😅
Jangan gelap mata, mikir