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Barnes Betting Report: August 1, 2023
August 01, 2023

News & Notes

  • Politics: The entire managerial class in control of American politics currently, in the military, financial and legal arenas, prove a level of ineptitude, decrepitude, and dangerousness that may exceed the empire-killing elites of pre-WWI that ended the centuries-old empires of Britain, the Hapsburgs, the Ottomans, and the Russians in less than a decade. The Fed, looking at worse data than the summer of 2019 when they cut rates out of concern, now raise rates instead. The Pentagon props up a disastrous war overseas, while losing power globally to the rise of the new global south, with Putin its figurehead. The DOJ indicts Trump again on the most trumped-up charges yet. America heads into the depths of the declining empire stage, and that tends to be ugly, and more variable, than most epochs. But, remember, variability itself can factor into profits on predictability markets. A mindset lesson: the unpredictable is, itself, predictable. 
  • Economy: Most Americans see the economy as bad, and that is likely to worsen according to global trade data, key manufacturing data, costly housing markets, declining savings, rising debt, freezing credit, and consumer uneasiness. Near impossible to imagine a Democratic reelection in 2024 with war abroad, recession at home, and scandal everywhere. 
  • Geopolitics: War in Ukraine backfires, as the counteroffensive fails, Russian strength grows, Niger coups succeed, China struggles with its own stagnation and managed decline, Germany sinks into recession along with the EuroZone, the neo-con Tories see likely demise in the UK, and the most popular pols are populists like Putin in Russia & the anti-crime Bitcoin-loving leader of El Salvador. Populism’s rise likely just begun. 

 

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New York Mayor Democratic Primary Update

Well, things are getting interesting.

Most of the polls up until now have shown Andrew Cuomo with a clear lead but today Emerson dropped a poll with Cuomo narrowly leading Mamdani on a first pass but after all the rounds of ranked choice voting had Mamdani ahead of Cuomo by 4. When this poll came out Cuomo's price took a plunge from mid 60s to mid 30. Later in the day a poll from HarrisX / Fix The City came out with Cuomo winning comfortable. Many are skeptical of the poll because of its crosstabs. Nonetheless, Cuomo rebounded and now both candidates are close to 50c each with the election day being tomorrow.

This has been a difficult race to read. Mamdani's momentum seems to be everywhere now, almost to an absurdly astroturfed extent. At the same time, his momentum seems to be primarily among affluent whites who are very vocal online whereas Cuomo hasn't really had a ground game but has been blitzing the TV networks. Cuomo is also polling better ...

SportsPicks meet up the evening before the 1776 Law Center Event in August? Gordon? Crickett? Nothing that needs extensive prep, a cash bar somewhere would be good.

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Note: 2% of bankroll max recommended on American football unless otherwise noted. 1% max recommended on soccer onless otherwise noted. 

 

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