Chekt
TYB
Elon Musk
@elonmusk
Wild $T1mes!
12:59 PM · Oct 25, 2021
https://twitter.com/elonmusk/status/1452726479649914889
Cathie Wood responds to Elon Musk flagging the surge in price pressures and says technology like blockchain will 'bend the curve' on inflation
Oct. 26, 2021, 06:46 AM
-Technology like blockchain could help temper inflation, ARK boss Cathie Wood said on Twitter.
-Wood was responding to a tweet by Elon Musk on the current strength of price pressures.
-Supply-chain bottlenecks and shortages of labor and raw materials have seen a surge in global inflation.
ARK chief executive Cathie Wood is firmly on the side of the debate that believes the current surge in inflation will likely be short-lived. In a series of Twitter exchanges on Tuesday with the likes of Jack Dorsey and Elon Musk, she explained the deflationary forces that will help quell the pickup in price pressures, including the role of technology.
Supply-chain bottlenecks at ports, warehouses and rail depots around the world that built up during the worst of the Covid-19 lockdowns, along with shortages of labor and raw material prices have sent the cost of consumer and producer goods and services to multi-year highs.
Central bankers face a delicate balancing act of curbing excessive price increases without dampening economic growth, which in many cases, is still below pre-pandemic levels.
On Monday, Wood took to Twitter to detail three deflationary forces that will "overcome the supply chain-induced inflation," responding to Jack Dorsey less than 72 hours after he sounded an alarm on rising prices.
Tesla chief executive Musk weighed in. "I don't know about long-term, but short-term we are seeing strong inflationary pressure," he tweeted in reply to part of Wood's thread.
"Inflation has flared in response to COVID-related supply chain bottlenecks and oil supply constraints but, IMHO (in my humble opinion), the powerful and converging deflationary forces associated with AI, energy storage (EVs!), robotics, genomic sequencing, and blockchain technology will bend the curve," Wood said in response to Musk.
"If they expect lower prices, most consumers/businesses will defer purchases, exacerbating a decline in the velocity of money. Despite the burst in cyclical inflation during the last year, velocity is hovering at low levels. If ARKInvest is correct, the next leg will be down," she continued.
She pointed to the decline in velocity - the rate at which money turns over per year - and how that will also help offset inflation.
"I am struck by the behavior of millennials who, at the margin, are sacrificing short term consumption to pay down student loans or invest in crypto and other assets. Bank loan growth also is tepid which would not be the case if velocity were increasing," she said.
https://markets.businessinsider.com/news/currencies/cathie-wood-inflation-debate-elon-musk-jack-dorsey-crypto-deflation-2021-10
notable
Executives from Snapchat, TikTok, and YouTube will testify before the Senate Commerce Consumer Protection Subcommittee and face questions from lawmakers about the effects on social media on children and teenagers.
Loudoun County, Virginia flag
History of the County Flag
Like the Loudoun County Seal, the county’s distinctive flag was derived from the coat of arms which was approved by the College of Arms in London and adopted by the Board of Supervisors in 1968. Loudoun is believed to be the first county in the United States to have a flag based on a coat of arms officially sanctioned by the College of Arms.
Presentation of the Flag
On March 14, 1968, the coat of arms was officially presented to the county by Dr. Conrad Swan, the Rouge Dragon, who was a representative of Queen Elizabeth and a member of the College of Arms. According to a news account at the time, it was the first time the Pursuivant of Arms had performed such a ceremony on American soil.
The formal reception took place at Morven Park and later moved to the Goose Creek Country Club for dinner. Among the county representatives were William S Leach, Chairman of the Board of Supervisors, and Huntington Harris, the board’s vice-chairman. Harris had been the driving force behind Loudoun County’s efforts to get a coat of arms.
Description of the Flag
The Loudoun County Code of Ordinances describes Loudoun County’s flag in detail:
The edging of the flag consists of green indentation with white or silver drops, suggesting milk drops. The ermine field contains nine green wheat symbols in each field.
The flag is rectangular and consists of eight alternating red and ermine right triangular fields with the bases of the triangles forming the border of the flag and the apexes of the triangles converging in the center of the flag.
The flag represents the agricultural background of the county (the green color); the Monroe Doctrine and President Monroe’s association with the county (the indented or “embattled” edging); and the dairy industry, still so important to the county (the white or silver drops suggestive of milk).
https://www.loudoun.gov/178/County-Flag
>Crazy we thought it was happening live years ago
Kek, yeah that was fun
They made it sound like it was all happening in the now and so that's what we were looking for.
What a trip.
A lesson well learned.
House Democratic Leaders Propose New Social Security Bill I LIVE
Several House Democrats are holding a news conference to discuss the introduction of ‘Social Security 2100: A Sacred Trust,’ legislation that would ‘expand benefits and strengthen Social Security.’
https://youtu.be/TUy8iTAftBQ
I'll take two!