Please silence any devices that may sound off during the proceedings. Commission, if you care to, do state your name for the record. 50ir789 commissioner president hillis commissioner Vice President richards commissioner koppel and commissioner moore we do expect commissioner fong and commissioner johnson to arrive shortly and commissioner melgar to be absent commissioners, the first item on your agenda consideration of items proposed for continuance. 2855 filbert street discretionary review april 6th 650 divisadero street conditional use authorization and rear yard modification april 6th 10191033 clement avenue conditional use authorization proposed for continuance and 471 24th avenue conditional use authorization proposed for indefinite continuance no other items proposed for continuance and there are no speaker cards. Thank you jonas any Public Comment on items 1 through 4 proposed for continuance go ahead line up and speak at the mike this is the time to address the continuance not
5. 3 . These are the questions dominating the discourse all day. I would put it in perspective, empirically, anecdotally and emotionally. Were in an unusual backdrop. Because the demand for u. S. F z treasuries from overseas, our Interest Rates in this country are much lower than they should be hallelujah unless youre a saver. Youd expect rates to rise. Thats normally what would happen. Treasury yield should be higher, which would drive other rates higher in, again, another normal situation. But were far from normal [ buzz ] Central Banks around the world are debasing their currencies. One third of all government bonds around the world now have negative yields at the moment, meaning if you buy these bonds youll actually lose money. Not here, though. So of course theres a scarcity of u. S. Bonds. Creating lower Interest Rates for all. Foreigners are thrilled to buy our bonds because you can make some money owning them, however meager. We have even more worldwide economic turmoil if they
Were getting a sense that the longterm outlook, not the shorter median terrelm, the lon term has taken focus. Where the best longterm profits reside. What do i mean the long term . Lets start with tesla, solar city. Elon musk is trying to create a onestopshop for his incredibly popular cars. It can be summed up as im smarter than you, so i cant bother with you. And except a couple of things. With this deal, musk is not planning for this year or notex year or year after that. There are 50 million rooftops in this country. To musk, that means 50 million power plants. The notion that the electric fleet will look like it does now in further times is long. Why . Because its because of nuclear, coal and natural gas. But new Nuclear Plants cant be built, theyre to expensive. Coals too dirty. Natural gas is a bridge fuel. Heres the thinking that might be one Central Place. This is what his grand scheme really is. One Central Place where we build a j a gigantic solar field. Hes thinking in the
Now we are beginning to see some themes of think amazon and facebook. Higher commodity prices. Chiefly oil and gas and a weaker dollar. In the end though, after a day like today with the dow lost 57 points, s p 500 plunged. It is all about profit taking and earnings. Just say exhaustion rather than anything important. I know im making it sound like the market has a mind of its own with mood disorder, sleep deprivation. Of course, the market is not a person but it has a personification in the case of large Portfolio Managers who get worried and then take action. Sell, sell, sell. Driven more by emotion, rigor or even facts. We start with Warren Buffetts love fest. The birk shire hathaway. Buffett is not emotion and he has rigor in spades. Like many of you, swh are trying to find inexpensive stocks of well run couldnlonies. So he is a welcome joy versus people who come on air and blast away and call tops all the time or seek to make their negativity. I like warren aplenty. I will be glue
It is small. If you look at the major averages, we are seeing a small change. In fact, we are giving up the gains out of the gate this morning so the dow has turned negative. Its a little bit of a pause after the big selloff yesterday. You look at the option of this morning, its clear when you look at the imap there is an equal amount of red and green. Health care is higher in eli lilly cut its forecast and introduced new drugs. Consumer stables are up and financials are little changed in energy and utility shares and materials are falling. Commodities are a part of the equation. A can of commodities, lets check on oil which had a wild ride yesterday. Today it is trading lower. We talked about how unusual it is we would see that ratcheting up a tension between iran and saudi arabia and oil with an lower. Ample testament to how the supply is out there in the market that you would see that kind of phenomenon. Betty the Dollar Strength is not helping. Julie the dollar has been on a winnin