Rambling -- Not Ready For Prime Time -- July 15, 2021

Cathie Wood: CNBC's "exclusive" interview yesterday at 4:00 p.m. ET was superb. I'm watching, waiting, hand on the trigger. ARKK. This might be a new holding for Sophia.

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Jim Cramer: his closing rant last night on Mad Money was right on point. He wants higher wages for workers and he unequivocally supports Jay Powell, who appears to want the same thing.

Household cash:

• money market funds have $1 trillion more than they did pre-pandemic
• money market funds: at record holdings? I believe they are at a record; fact-check please.
• link here; "near" record high
• look at huge jump beginning January, 2020
• incredible
  
• money market rates: 0 percent.
• this is not rocket science

Money market funds (running just the opposite of the Saudi Arabia foreign reserves assets chart):

• comments:
• so, money in money market funds had been running at $3 trillion, like forever;
• then, January, 2019, to November, 2019, these funds jumped from $3 trillion to nearly $4 trillion
• but literally, overnight, from December, 2019, to March, 2020, jumped from nearly $4 trillion to solidly over $5 trillion
• that's a lot of money providing zero return when the equity market is paying on average about 3% and appreciating at the same time;

Netflix: popped at the open, then gave it all back before noon. Watch this one.

NFLX is running at its highest level ever. "Netflix won't chill." -- CNBC. Huge announcement today. Will enter gaming. And it will be a huge investment. Had already announced an eye-popping $17 billion in content spending in fiscal 2021. Link here.

 

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Global Warming And China

For the archives. 

Link to the Daily Mail. 

Just 25 "mega-cities" produce 52 percent of the world's urban greenhouse gas emissions:

• 23 are in China; the other two: Moscow (#7) and Tokyo (#17)
• not one US city in the top 25
• among the top 100, the US cities:
• NYC (#26)
• San Diego (#41)
• Houston (#44)
• Chicago (#47)
• Los Angeles (#55)

More importantly compare tons of annual emissions.

Examples:

• Chinese cities trending toward 200 "units"; and there are 23 of these cities.
• NYC: 51
• San  Diego: 35
• Houston: 33
• Chicago: 31
• Los Angeles: 27

And China still gets a pass on CO2 emissions. I think China says they set 2060 as the year they hope to be "net-zero.

FWIW.