Friday, November 18, 2022
The Fake Trump-DeSantis War and the 2022 Non-Election
The article in this LINK by Sebastian Gorka is definitely "pro-Trump", but it also establishes some very good points about the efforts of the media and their attempt to drive a wedge between conservatives and split the Republican party, strategies, etc. It is well worth the time it takes to read. Americans should realize by now that unless true election reform takes place, the demonratz are going to control who is elected in the White House, Senate, and House of Representatives regardless of who the candidate may be. This is also true in many local races in blue voting precincts. Take the Arizona governors race for example. Katie Hobbs pulled a "bunker basement Joe" tactic by almost totally refusing to be seen in public, refusing to debate Kari Lake, etc. I believe I read where she only showed up for work as Arizona's Secretary of State nine times in the last six months of the campaign. Why campaign when the "fix is in"? Come election day, Kari Lake is ahead at the polls. Then, something happens and the counting is stopped, restarted, and delayed countless times until Hobbs pulls from behind with the last of the ballots counted. This is just one example of the stunts pulled in this past election. Ian Flemming said, Once is happenstance. Twice is coincidence. Three times is enemy action". I think we are well past number three. Besides, everyone knows the definition of insanity (to repeat the same process over and over and expect different results). I say everyone, but it is obvious 37 RHINO senators failed the Republican Party by doing just that and re-electing that self-serving POS Mitch McConnell to a leadership position once again, but that is for another post. Two years will pass quickly and the 2024 elections will be here before we know it. Some will say there is no voting our way out of this. I am not certain about that, but I do know that it does not matter who one chooses to support, who endorses who, etc., unless we make some serious changes in the nation's electoral process we are going to be stuck with who the sitting powers that be decide upon.
Thursday, November 17, 2022
Wednesday, November 16, 2022
You. S̶t̶u̶p̶i̶d̶. Greedy. M*^#@erf^%$$$$s....
My business account was in this bank. I had the opportunity to get in the IPO a few years back as a long time customer.
It was doing good for a while. Now it's worth less than I paid.
Why? you ask..
Provident Bancorp (NASDAQ:PVBC) stock slid 19% in Wednesday morning trading after the company delayed its quarterly earnings filing and estimated a Q3 loss of $27.5M related to loans to a cryptocurrency miner. Stephens analyst Matt Breese downgraded his rating on the stock to Equal-Weight from Overweight.
PVBC suffered an estimated loss of $1.63 per share, a 12% reduction in tangible book value and an almost $50M increase in non-performing assets, the analyst wrote in a note to clients.
After the close on Tuesday, Provident Bancorp delayed its 10-Q filing and provided the loss estimate. Note that in mid-October, the Provident Bancorp (PVBC) said it was expecting to report a Q3 loss due to a write-down of collateral of repossessed from a crypto mining company. "The company is still evaluating the actual level of losses due to the recent decline in the cryptocurrency mining industry, and such losses may exceed this estimate," PVBC said in an SEC filing.
After the company forgave a $27.4M loan, its digital asset mining loan portfolio totaled $76.5M at Sept. 30, 2022, a majority of which it expects to be impaired and placed on non-accrual status with significant related specific reserves.
"While our initial assessment of the October news was that TBV would be down ~3%-6%, the increase in reserve and NPAs per the more recent call report suggests a wider degree of credit disruption than anticipated, with additional details in the most recent delayed 10-Q announcement," Breese said.
Provident Bancorp (PVBC) in its statement, said volatility in bitcoin (BTC-USD) prices and increasing energy costs called into question the financial stability of its crypto-mining clients as well as the mining rigs they used for collateral.
Scottish Words Of The Day....
Dumfungled - to be mentally and physically worn out.
Scunnered - annoyed, fed up, discontented, weary.
Tuesday, November 15, 2022
Monday, November 14, 2022
World War 3
How might it begin? How will it be fought and by whom? How will it end? What will be the aftermath?
Sunday, November 13, 2022
♫♪♫ Space Arc Collection... Stone Rebel. ♫♪♫ for a mellow Sunday....
I'm doing some catching up on work this morning. It's gray and drizzling.
This is some really good back-ground music. ( and for the record, I don't partake in the herb )
Although, I can image laying back with the headphones on with a mellow buzz and enjoying
Stone Rebel in the dark.
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