DEC 07. Google’s AI…bankrunpcy of Coffee trading company…same day…

Chun09
4 min readDec 8, 2023

The world get excited once again with another AI appears. Google’s Gemini was the one and MEGA CAP stocks were rallying hard whole day. Meantime, Mercon, the largest specialized coffee trading company was in chapter 11 in US. Rabo bank, one of the main credits supplying bank to this company, cut the credits and pushed this company into the bankrupt. Are people still going to drink coffee with AI ruled the world or AI supply illusions to people of drinking coffee?

Global banks are cutting down credit lines too easily of those old school business companies, making them difficult to maintain their business. They wouldn’t cut credit lines of AI relate companies so easily, right?

A cup of coffee in the morning could makes world better place for a moment. If those old school companies are all disappeared due to this kind of unfair CAPATAL plays, where can we get a cup of coffee?

It was another sad day.

US stock market was up strongly with MEGA CAP stocks. Google’s new AI brought a kind of excitement to the market. DJ Index was up 0.2%, S&P 500 index was up 0.8% and NASDAQ index was up 1.4%. AI related stocks were up mostly. Easy end..

Apple was up 1.0%, MS was up 0.6%, Amazon was up 1.6%, Tesla was up 1.4%, NVIDIA was up 2.4%.

Chinese stocks are keep slumping this week. No wonder why…

US dollar index was downed by 0.5%, ending at 103.61 points today. Japanese Yen was surprisingly strong today against US dollar wit BOJ’s comment. BOJ, hinted they might have many options to raise their rate next year.. OK… got it, then please do something if you really want… no more word play, please. Anyway, Japanese Yen was up 2.6% against US dollar, ending at 143.46 yen per dollar…

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Chun09

Trying every day, engraving what we’ve been through