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Business, Economics, and Taxes 2: That's Why We Fight to Take the Means Back

ticapnews said:
As expected, we're finding out that Friday was total insider trading and market manipulation. Coffeezilla and others have tracked accounts that on Thursday started placing a series of smaller shorts on Bitcoin and Ethereum. They continued even after Dump's initial post, placing the last order seconds before the second post that sent the market into a freefall. 30 minutes later they covered and pocketed billions. With a b. One "lucky" investor turned $80,000,000 into $1.3 billion. Not bad for a few hours. I'm old enough to remember people being outraged that Hillary turned $20,000 into $100,000 betting on cattle futures....wonder how quiet the poutrage machine will be about this.
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Comments are saying Baron cashed in also, true or not I don't know
 
Baron is a door stop. That kid isn't planning anything but how to rub one out. He is a pass through.

"NYU."

The rich are pathetic, and are funny right up until the moment they aren't.
 
Handyman said:
View attachment 964

Some of those areas are going to get killed in energy prices over this. Wont hurt the Tech Companies but the residents...
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I posted this a while ago bit I want to add to it to show why this is a problem...

Who Needs Electricity

Electricity prices in Missouri are already unaffordable for thousands of families across the eastern half of the state, according to newly released data from the state's utility regulators.

Ameren Missouri cut off power to 14,999 customers in September, according to records published by the Missouri Public Service Commission on Monday. That's in addition to the 14,375 customers that the regulated monopoly utility company disconnected in August, nearly triple the number of people it cut off in Jul
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study commissioned by the Consumers Council of Missouri found that electricity and gas rates in Missouri are already rising faster than both national inflation and the state's job wage growth. Ameren hiked its electricity rates by nearly 12% for the average customer this year, and prices are expected to continue rising due to the rapid expansion of data centers throughout the state.

Developers of a controversial data center in St. Louis' historic Armory building have repeatedly said their project won't cause "unjust" or "unreasonable" electricity bill increases to Missouri residents. The same claim was made by the developers of the now-defunct 440-acre hyperscale data center in St. Charles. Consumer advocates and utility experts disagree, saying "unjust" and "unreasonable" costs are open to interpretation.

The developers are referencing terms in Missouri's recently passed SB 4, which changed numerous rules related to the state's utilities, including that utilities couldn't unjustly or unreasonably raise customers' prices because of large power users like data centers. The law, however, does not define what "unjust" and "unreasonable" mean, leaving the ultimate decision up to the state's utility regulators, which have taken a hard pro-utility position in recent years.
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That is an easy enough problem to solve. Put the data centers 100% on the hook for increased charges above the dollar amount the community is willing to bear, and then give them a choice: build and risk it or GTFO.
 
bsky.app

Raw Story (@rawstory.com)

President Donald Trump's signature tariff policy appears to have caused sales of a staple American spirit to collapse as trade relations between the U.S. and other countries deteriorate, according to a new report. https://bit.ly/4hdiaKW
bsky.app bsky.app
 
Handyman said:
I posted this a while ago bit I want to add to it to show why this is a problem...

Who Needs Electricity
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Just and reasonable rates has been the standard for utility regulation since public utilities became regulated (technically, it's "safe and adequate service at just and reasonable rates"). That isn't some new design or framework that's meant to insulate data centers at the expense of residential customers.

My issue with the linked article is its subheading "Missouri electricity bills expected to keep increasing due to data centers." Show me the data, because correlation != causation. Just because there are more data centers and rates are increasing doesn't directly link the two, especially given that the expected generation needs are still a decade or more off. Disconnections don't signify that, because construction of a data center doesn't directly impact rates. And unless a rate increase hit in September, a near term jump in disconnections is more likely to be related to economic conditions than rates, since they don't change overnight. Presuming Missouri still has traditional regulation, the utility has to go before the state's commission to get approval for a rate increase, and those cases can take months if not years. They also typically only include things already built (if the rate case uses historical data, as is traditionally the case), or near-term, fully expected to be built facilities during the time-period used to establish rates (if the case is using a future test year). No regulated utility in the country is able to charge higher rates now for a generator that won't even start construction for 10 years.

Show me the link. Consumer Advocate offices nationwide constantly fret and worry about industrial costs being passed on to residential customers, which fair enough, that's both their jobs and a worthy goal. Traditionally, however, commercial and industrial rates tend to subsidize residential customers already when compared to how the underlying cost of service studies would allocate costs. Utility commissions are loathe to increase rates on residential classes already, and they often mitigate "rate shock" for residences more than other classes.

The article also ignores that many public utilities don't want to be on the hook for unused generation anymore than their residential customers do, and they build in safeguards with their large industrial users in their facilities and electric service agreements. A number of states, including Minnesota, have instituted laws forbidding cross-subsidization, and PUCs have similarly approved rates that include similar protections.
 
bsky.app

karl rove knausgård (@uhactually.bsky.social)

Lmao WaPo has fewer than 100K circulation now. It turns out “alienate your liberal subscriber base” is not a good strategy when the Republicans also hate you. https://www.forbes.com/sites/andymeek/2025/06/21/the-washington-post-is-running-out-of-readers-willing-to-pay/
bsky.app bsky.app

Also down to 2.5 million digital subs why is way below the NYT and WSJ.
 
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Acyn (@acyn.bsky.social)

Stevens: There’s $1.3 trillion of credit card debt. There are people putting grocery bills on credit cards and then paying interest on them. We are in an affordability crisis. Coffee is up 20%, beef is up 16%, bacon is up over 10%. And now we’re going to see health care costs skyrocket.
bsky.app bsky.app

This seems bad...
 
Handyman said:
bsky.app

Acyn (@acyn.bsky.social)

Stevens: There’s $1.3 trillion of credit card debt. There are people putting grocery bills on credit cards and then paying interest on them. We are in an affordability crisis. Coffee is up 20%, beef is up 16%, bacon is up over 10%. And now we’re going to see health care costs skyrocket.
bsky.app bsky.app

This seems bad...
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I was at BJs the other day, Id heard brisket was 27 bucks a pound, it wasn't, it was 19 bucks a pound. Unreal, I guess smoking some brisket isn't in my future
 
I’ve pretty much given up on beef besides grabbing steaks for a holiday or special occasion. Pork is versatile, chicken is still cheap, and while turkey burgers don’t hit the spot like beef at least it’s healthier.

Plus some non-meat options like tofu and lentils open up some fun for messing with new recipes.
 
bsky.app

Aaron Rupar (@atrupar.com)

COLLINS: The Dept of Energy just canceled $1b for a hydrogen hub that covers Montana. Is that taking away good-paying jobs? SHEEHY: Of course it is. We want govt to be open C: But the Energy Secretary says he would've pulled that funding even if govt was open S: ... Well, that's unfortunate
bsky.app bsky.app
 
Handyman said:
bsky.app

Acyn (@acyn.bsky.social)

Stevens: There’s $1.3 trillion of credit card debt. There are people putting grocery bills on credit cards and then paying interest on them. We are in an affordability crisis. Coffee is up 20%, beef is up 16%, bacon is up over 10%. And now we’re going to see health care costs skyrocket.
bsky.app bsky.app

This seems bad...
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GOP's handpicked MI Senate candidate: "Oh no, coffee went up. Horror."
 
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