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10-30-26 spal
| I can not stand those pricks - next on my list would be so-called "data scientists" ... what a crock of shit. |
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10-30-26 spal
BTW - delighted to see crypto crashing - I want every one of those crypto bros to go BK.
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10-30-26 spal
A year ago, Microsoft, Alphabet and Meta generated $60.7 billion of free cash flow in a single quarter. This summer, $7.4 billion.
They didn't sell less. Revenue grew 19% at Microsoft, 25% at Alphabet and 26% at Meta. What changed is the bill: $125.6 billion in three months for data centers, chips and servers, double what they spent a year earlier. Meta put 54 cents of every dollar of revenue into capex. Alphabet spent $9 billion more than it took in, its second negative quarter in a row, and this morning its stock fell 12%. If it closes down more than 9.77%, it will be its worst day after earnings since going public in 2004.
The detail that worries me most is in Google's search numbers. Search ads grew 12% and still missed expectations. Philipp Schindler, Alphabet's chief business officer, said part of the reason is that AI Mode makes less money per search. So Google is spending record sums to build a product that earns less than the one it replaces.
For twenty years these were the best businesses ever invented. You wrote the code once, sold it to billions of people, and almost every new dollar of revenue fell to the bottom line. AI doesn't work like that. Every answer runs on a chip someone had to buy and on electricity someone has to pay for. Big Tech is turning into something closer to a utility: huge upfront costs, long paybacks, and profits that depend on keeping the machines full.
That can still be a great business. But it is a different business, and investors are only starting to price it that way.
The old moat was code. The new one is cash. |
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10-30-26 savo
a few days ago we had a conversation about real physical gold stored in secured vaults in secured locations vs futures
Futures and Crypto are human fabrications and as every human fabrication can be replicated... real physical gold predates earth.. can not be formed in earth or in the sun...
that does not make it valuable... but at list does make it un-hakable
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10-30-26 victor
Binance Suspends Transactions as It Probes What May Be Biggest-Ever Crypto Heist
Crypto exchange says users will be made whole, but hackers appear to have made off with at least $3 billion—and possibly more, analysts said |
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10-30-26 victor
Musk Warns “Everyday Is Zeroday” As Rumors Swirl On News Of A Massive, $5.7 Billion Binance Hack
Elon Musk fired off two cryptic words as reports of a staggering Binance breach sent crypto markets into freefall, with estimates of the damage ranging so wildly that nobody yet knows how bad it actually is.
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10-30-26 spal
| Concerning Cuba - while placing battle-tested, U.S.-aligned partner forces in Haiti establishes a flexible security presence in the Northern Caribbean, its main utility for Washington is containment and burden-sharing—keeping the Caribbean's near-abroad stabilized and preventing maritime migration surges—rather than serving as a direct tactical stepping stone for military operations against Havana. |
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10-30-26 spal
The flight surge into Toussaint Louverture International Airport is supported by U.S. Air Force/USTRANSCOM charter logistics and regional contractor staging.
This deployment represents a major evolution in Western Hemisphere security architecture. Rather than relying on traditional UN blue-helmets or direct U.S. military intervention, the Caribbean is witnessing the private-and-state-assisted export of a Global South security model.
Bukele’s operation is unilateral in command, but U.S.-enabled in infrastructure.
While Bukele takes political ownership and provides the infantry, USSOUTHCOM provides the air mobility, SOCSOUTH provides intelligence-sharing channels, the State Department provides diplomatic backstops, and private contractors supply technical asset integration.
Rather than sending cash to San Salvador, the U.S. Department of Defense and State Department utilize Foreign Military Sales (FMS) credits and Section 333 (Global Train and Equip) defense funds.
U.S. Air Mobility Command charters (C-130s/C-17s) cover the expensive air bridge between San Salvador and Port-au-Prince, keeping El Salvador's direct transport outlays low.
For El Salvador - UN Rate-Per-Troop Reimbursements Standard UN/multilateral peacekeeping protocols pay fixed monthly rates per deployed soldier (typically ~$1,400 to $1,800 USD per troop/month) plus equipment usage fees.
President Bukele’s statement that El Salvador pays "90% of the expenses" is an operational accounting framing: El Salvador pays the immediate local personnel costs, but the United States supplies the airlift and hardware, while UN trust funds and U.S. military assistance channels are structured to reimburse San Salvador over time.
Far from a financial drain, the deployment functions as a self-sustaining security export that upgrades El Salvador's military readiness at international expense.
Bukele - ahead of the game here.
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10-30-26 spal
El Salvador President Bukele Sends Troops to Haiti to Deal with Violent Gangs. His Letter to the Haitian Citizenry Follows:
Haitian people,
We have nearly finished deploying our soldiers and equipment on Haitian soil. This is not an operation against the Haitian people, nor an invasion of the country of Haiti. We are not a great power. We have no interest in coming to dominate the Haitian people, nor in laying hands on Haiti's wealth.
We are a modest country that is developing. The only thing we want is for our four aviation technicians to return home. And we're giving the gangs a lesson—these gangs that make the Haitian people suffer, that kill people the population loves, that prevent them from living a normal, free life, without fear.
It's almost just us footing the bill for this operation. Even though we receive a bit of logistical help from a few other countries, it's with our own modest funds that we're covering 90% of the expenses.
It costs us dearly, but we've learned from our own suffering: justice and peace have no price. We went through the same suffering that Haiti is going through today. We lived through a nightmare that was even more horrific than what the Haitian people are enduring right now. We know what that means: living in fear, not trusting politicians, not believing anyone who promises to help you. Because no one came to help us, and those who did come didn't have good intentions in their hearts.
But we managed to escape it. After 200 years of suffering, finally we're living in peace, and today we are the safest country on the continent.
We didn't come to Haiti to make money, because no one is paying us to do it. We came to Haiti to fight against the wicked.
But here's what I'm asking of you: trust us, pray to the one true God, and ask Him to heal Haiti.
"If at that time my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, where I am, I will forgive their sin, and I will heal their land."
2 Chronicles 7:14
Help us help Haiti.
And when our mission is finished, we'll return home. Perhaps the next generation of Haitians will remember us as friends who came to help one day.
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10-30-26 spal
| More Salvadoran soldiers arriving in Haiti's capital today. Reports indicate the immediate goal of Bukele is to create a detachment of 5000 Salvadoran troops including two specials forces units and at least two more helicopter squadrons. |
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10-29-26 spal
Chris Shipping 🚢🚢
@christankerfund
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3h
Tankers recovered from the 10:34am sell button and ending the day strongly.
$STNG
very strong.
https://x.com/christankerfund/status/2115877464736149819?a=QmAmKwuDJxthzLxTNc8&s=20 |
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10-29-26 spal
Stahel dead on here.
Alexander Stahel 🌻
@BurggrabenH
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5h
The amazing thing about Google getting hammered today is not that its core Search business is under stress. It’s how long it took investors to figure that out.
AI is changing the regime under which the hyperscalers became some of the highest-return-on-capital businesses in human history. Google & Meta, and to a lesser extent Amazon, are at the centre of this disruption.
They became the modern-day landlords of the digital economy. Google auctioned search intent. Meta auctioned attention. Amazon auctioned product discovery. They controlled access to consumers and charged advertisers increasingly expensive rents for the privilege. Beautiful low capital intensive businesses. Until the rules change.
AI is doing precisely that,faster than the internet revolution that created these empires. I barely use a web browser for search anymore. It has degenerated into a window for opening websites. Why scroll through sponsored links & SEO garbage for dog food when an AI assistant can find what I need? I doubt I am alone.
Their response? Join the party and build staggering amounts of compute. Google alone is heading towards US$200bn of capex in 2026, while its Search growth is already slowing.
Clayton Christensen explained the problem in Innovator’s Dilemma. Incumbents struggle when technological disruption destroys the economics of the very businesses that made them successful. But throwing trillions at the disruptive technology won’t make another high ROIC units. Instead it renders the entire shop average.
Worse, AI is on track to become commoditised, with economics eventually resembling airline seats: enormous fixed costs, relentless capacity additions, falling unit prices and fierce competition. Models become cheaper, more interchangeable and increasingly tailored to individual needs. Much of that intelligence will eventually run locally on personal devices. Who pays the landlord when the tenants no longer need his building?
In 2025, Google generated US$225bn from Search, Meta US$196bn from advertising. How much of that can they defend, let alone replace, while committing hundreds of billions to a data centre arms race? It’s just ridiculous. In 2 years time they can buy these zero-moat compute factories for 20 cent on the $.
The problem is the moat. I’d argue that 98% of businesses have no durable moat. Schumpeter’s creative destruction eventually erodes any competitive advantages in a free enterprise system, growth fades and returns on capital gravitate towards 5–7% as competition brings supply into balance with demand.
Bruce Greenwald explained in Competition Demystified just how hard it is to build a economic moat. My favourite is what Buffett calls share of mind. Try displacing Coca-Cola, Pampers or WD-40 with a 5% discount. Good luck.
Where is AI’s moat? Switching costs are near zero. I switch bw 4-6 models and already use 2 specialised AIs for commodities, each offering proprietary data and knowledge depth. If at all, I see opportunity for high ROICs in owning scarce, valuable info & domain expertise rather than another tech layer.
But that is hardly the 10 trn-dollar TAM that spoiled Google & Meta executives want to present on their next earnings calls. They think unrealistically big, with precious little capital discipline. Instead of accepting that the regime change, rest assured that they will throw endless good money after bad. Like 100% sure!
History offers zero comfort for that process. Look at the former kings of the S&P 500: AT&T, GM, DuPont, IBM, Exxon, Kodak, Sears, Xerox, GE, Philip Morris, Pfizer, Citigroup, Intel or PanAm. Some went bust, others lost dominance; few retained their extraordinary economics.
Expect Google to join the decay list.
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10-29-26 spal
Intel stock,
$INTC
, crashes over -22% after reporting weaker than expected earnings.
Intel blamed weak earnings on "softness in the PC market." |
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10-29-26 panasonic
| AMZN whacked, buckle up this AI rally is coming to an end. |
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10-29-26 panasonic
| Vic, ok but pls dont tell Diosdy!! |
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10-29-26 spal
| Tankers still on the march - very hard for them not to given the parade of earnings next week ... not impossible, but tres difficile ... |
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10-29-26 victor
bernie s
This is the most important midterm election in modern American history. Here’s why.
https://www.youtube.com/watch?v=k-oPpnyUSdg
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10-29-26 victor
pana, no.. jaime is happily married..
his homosexual days in buenos aires are long gone. |
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10-29-26 victor
Lagarde dimite: “No puedo permanecer neutral, quiero recuperar la libertad de expresión”
La francesa dejará el cargo en febrero: el español Pablo Hernández de Cos suena como posible sucesor
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10-29-26 panasonic
Vic, Delcy was cloned in some lab here?
Diosdy muy callado, heard he is dating Jaime Bayly :-)) |
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10-29-26 victor
Delcy Rodríguez dice que devolverá algunos activos estatales no esenciales a sus antiguos propietarios
CNN Español
—
La presidenta encargada de Venezuela, Delcy Rodríguez, dio este jueves un mensaje al país, apenas horas antes de la conferencia de prensa convocada por la líder opositora María Corina Machado, en lo que será su primer mensaje desde su regreso a Venezuela el domingo.
“He instruido la valoración de activos no esenciales en manos del Estado que pueden ser ofertados al sector privado o devueltos a sus antiguos propietarios. Ya esto está avanzado. La propiedad privada es un derecho protegido garantizado por nuestra Constitución”, dijo la mandataria encargada.
“A quienes piensan distinto a mi no les pido que cambien de opinión. Les pido que juzguen por los hechos. Menos pelea, más soluciones”, dijo Rodríguez en un mensaje grabado.
En un tono conciliador, la presidenta encargada habló de la intención de negociar con distintos sectores por el bien de Venezuela y remarcó que “nada de lo construido se destruye”.
“La soberanía no se negocia, cooperamos con todos, pero decidimos en Venezuela”, aseguró.
En relación a cómo será el calendario electoral en el país sudamericano, una incógnita que sobrevuela desde que Nicolás Maduro y su esposa fueron capturados en enero durante un operativo militar estadounidense en Caracas, Rodríguez reiteró que “habrá elecciones, todo lo que manda nuestra Constitución”.
“La elección no debe ser un problema ni hacernos retroceder hacia tiempos de confrontación que ya nadie quiere”, pidió.
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10-29-26 spal
Tankers remain schtrong:
Upcoming earnings will be at nose bleed levels:
Upcoming Earnings Schedule
TORM plc (NASDAQ: TRMD)Date: Wednesday, November 4
International Seaways (NYSE: INSW)Date: Thursday, November 5
DHT Holdings (NYSE: DHT)Date: Wednesday, November 11
Teekay Tankers (NYSE: TNK)Date: Wednesday, November 11
Okeanis Eco Tankers (NYSE: ECO)Date: Thursday, November 12 |
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10-29-26 spal
Less meetings in future, and more of the same on inflation.
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Yep Panas |
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10-29-26 spal
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10-29-26 spal
Jake Johnston
@JakobJohnston
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11h
Two flights from El Salvador have already landed today and two more are scheduled. There could easily be some 2,000 troops on the ground by the end of the day — though it's possible these flights are bringing additional equipment instead. Still, the expectation is at least 3,000 x.com/JakobJohnston/… |
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10-29-26 victor
La UE renuncia a la oferta de que Canadá se convierta en su primer “miembro asociado”
Canadá no se convertirá pronto en el primer “miembro asociado” de la Unión Europea. Los Veintisiete han tumbado la oferta de la presidenta de la Comisión Europea, Ursula von der Leyen, quien en el último discurso sobre el Estado de la Unión, este septiembre, planteó otorgar este estatus al país dirigido por Mark Carney, que en los últimos meses se ha erigido como un aliado fundamental del bloque comunitario entre los desplantes de Donald Trump y la amenaza de Rusia.
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