Why are the companies that have invested insane amounts in AI, and have terabytes of data about my interests, serve me such irrelevant adverts?

It seems I’m not the only one to ask this question.

Crumbs

• Some people are being taken for a $RIDE.
• Harley Bassman launches a product to allow retail to short credit
• Wise words from Kuppy

Wrap

Generally risk on. 10Y yields starting to rise again. Some very positive stats on the economy emerging recently.
Reflationary trade is on again, NDX down, DJI and Russell up. Dollar gains. Commodities generally flat, pinned down by the rise in rates and the dollar. Fairly quiet day in the markets. Ponzi SPACs all still in play.

Cartoon

By Banx, in the FT. Not on a blockchain.

The week

• inflation: it’s not here yet, but it’s increasingly expected,
• US yields: rising, and with them dollar vs the RoW,
• highly speculative, high beta plays are being picked up by retail investors: Bitcoin, SPACs, housing, fallen angels, known Ponzi stocks,
• UK and other countries are seeing how the US administration to “go big” appears to be working, and has defused popular anger at rising inequality, un-affordable housing, loss of personal and economic freedoms (vaccine passports, anyone?) and even identity politics grievances,
• huge government programmes ploughing money into “green jobs” are universally supported. More economically rational ways to reduce CO~2~ emissions are forgotten about. Carbon pricing, permits etc. are a thing of the past. Only the EU persists in large scale carbon trading, but even that is very incomplete,
• scientists, often working outside their original field of study, are now driving policy, with economists sidelined,
• many senior politicians have stopped even pretending to have gone into the field to serve the public.

Sorry to ruin the start of your weekend.