Saturday, April 28, 2012
The Value of Hedge Fund Investing
Longish report written by an industry association with all of the expected biases.
http://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/Documents/hedge-fund-value.pdf
http://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/Documents/hedge-fund-value.pdf
Thursday, April 26, 2012
The Only Reasonable Response Is Alarm
The Only Reasonable Response Is Alarm:
Believe me when I say that I’m not exaggerating for the sake of the election. The Ryan/Romney/Republican is a complete departure from the post-war political consensus in a way that wasn’t true of Ronald Reagan, George W. Bush, or even McCain/Palin. Ryan wants to return to a world of tremendous social and economic injustice, and the GOP has signed on wholeheartedly. It’s alarming, and those of us who fall within the liberal tradition, that’s a necessary and reasonable response.
Believe me when I say that I’m not exaggerating for the sake of the election. The Ryan/Romney/Republican is a complete departure from the post-war political consensus in a way that wasn’t true of Ronald Reagan, George W. Bush, or even McCain/Palin. Ryan wants to return to a world of tremendous social and economic injustice, and the GOP has signed on wholeheartedly. It’s alarming, and those of us who fall within the liberal tradition, that’s a necessary and reasonable response.
Wednesday, April 25, 2012
Could a Strong Union Movement Save Social Security?
EconoSpeak: Could a Strong Union Movement Save Social Security?:
" Let's see if we can get this straight. For 40 years wages have gotten hammered by the "job creators". People become increasingly reliant on Social Security, but the system is in trouble because people do not earn enough to get enough taxes taken away to cover social security. The obvious answer is to destroy social security."
" Let's see if we can get this straight. For 40 years wages have gotten hammered by the "job creators". People become increasingly reliant on Social Security, but the system is in trouble because people do not earn enough to get enough taxes taken away to cover social security. The obvious answer is to destroy social security."
Earth to Paul Krugman
Monetary policy will not work because the link between inflation and higher wages is broken?
Not sure that they buy this explanation in China..
Daniel Alpert: Earth to Paul Krugman � naked capitalism:
"As a result of the foregoing, wages in the U.S. and other areas of the developed world are unable to “track” (that is, to follow along with, even on a lagging basis) the type of inflation resulting from the ocean of liquidity that quantitative and credit easing policy of the Fed, the ECB and the Bank of Japan has produced – generally speaking, inflation in highly tradable commodities and financial assets. No wage growth (because of the dampening effect of excess emerging market labor, always standing by to work cheaply where it can compete with endogenous U.S., European or Japanese labor)…no sustainable inflation. As a result, high levels of inflation tend to collapse economic activity, as limited per capita wages are shunted to oil and food, rather than to more expansionary forms of consumption."
Not sure that they buy this explanation in China..
Daniel Alpert: Earth to Paul Krugman � naked capitalism:
"As a result of the foregoing, wages in the U.S. and other areas of the developed world are unable to “track” (that is, to follow along with, even on a lagging basis) the type of inflation resulting from the ocean of liquidity that quantitative and credit easing policy of the Fed, the ECB and the Bank of Japan has produced – generally speaking, inflation in highly tradable commodities and financial assets. No wage growth (because of the dampening effect of excess emerging market labor, always standing by to work cheaply where it can compete with endogenous U.S., European or Japanese labor)…no sustainable inflation. As a result, high levels of inflation tend to collapse economic activity, as limited per capita wages are shunted to oil and food, rather than to more expansionary forms of consumption."
"Markets of Magical Thinking"
"Markets of Magical Thinking" by Esther Dyson | Project Syndicate:
"I wish I had more faith in the system, but the problem is not a lack of good people, good investors, or good entrepreneurs. The problem is that, without regulation, bad people take advantage of the good ones. While regulation and restrictions may hamper small business, not all regulation and restrictions are useless."
"I wish I had more faith in the system, but the problem is not a lack of good people, good investors, or good entrepreneurs. The problem is that, without regulation, bad people take advantage of the good ones. While regulation and restrictions may hamper small business, not all regulation and restrictions are useless."
Tuesday, April 24, 2012
Monday, April 23, 2012
Does Not Compute
Sign of the apocalypse.
Does Not Compute — Marginal Revolution
…Meanwhile, the athletic budget for the current year is $99 million, an increase of more than $2 million from last year. The increase alone would more than offset the savings supposedly gained by cutting computer science.
Does Not Compute — Marginal Revolution
Big Data Fail
NSA Money Trap � Another Word For It:
It is not about the data. It is about who interprets and how they do it.
"The oft cited benefit of “making better decisions” is not empowered by “big data.”
If you are incapable of making good business decisions now, that will be true after you have “big data.”
It is not about the data. It is about who interprets and how they do it.
"The oft cited benefit of “making better decisions” is not empowered by “big data.”
If you are incapable of making good business decisions now, that will be true after you have “big data.”
The Jig Is Up: Time to Get Past Facebook and Invent a New Future
"the greatest minds in the US are now focused on getting people to click ads"
The Jig Is Up: Time to Get Past Facebook and Invent a New Future - Alexis Madrigal - Technology - The Atlantic
http://www.businessweek.com/magazine/content/11_17/b4225060960537.htm
The Jig Is Up: Time to Get Past Facebook and Invent a New Future - Alexis Madrigal - Technology - The Atlantic
http://www.businessweek.com/magazine/content/11_17/b4225060960537.htm
Sunday, April 22, 2012
Saturday, April 21, 2012
What Money Can't Buy
Book Review: What Money Can't Buy - WSJ.com:
Economists cannot account for this basic fact of humanity. Yet they have assumed a role in society that for the past 4,000 years has been held by philosophers and theologians. They have made our lives freer and more efficient. And we are the poorer for it.
Economists cannot account for this basic fact of humanity. Yet they have assumed a role in society that for the past 4,000 years has been held by philosophers and theologians. They have made our lives freer and more efficient. And we are the poorer for it.
Thursday, April 19, 2012
Wednesday, April 18, 2012
Tuesday, April 17, 2012
Rapid Construction Techniques Transform Infrastructure Repair
There are major issues with public works construction in the U.S. This seems to buck the trend.
Rapid Construction Techniques Transform Infrastructure Repair - NYTimes.com
Rapid Construction Techniques Transform Infrastructure Repair - NYTimes.com
The Rise of the Killer Drones: How America Goes to War in Secret
The Rise of the Killer Drones: How America Goes to War in Secret | Politics News | Rolling Stone
"Can you imagine what the reaction would be if the Pakistani ambassador in Washington was overseeing a campaign of targeted killing in America?"
"Can you imagine what the reaction would be if the Pakistani ambassador in Washington was overseeing a campaign of targeted killing in America?"
Monday, April 16, 2012
Protect Our Police Officers with Better Limitations on Carrying Firearms
Actually, guns do kill people. Guns do kill police officers.
Brad DeLong: Protect Our Police Officers with Better Limitations on Carrying Firearms
Brad DeLong: Protect Our Police Officers with Better Limitations on Carrying Firearms
Greg Mankiw gives pretty good argument for other side
Greg Mankiw gives pretty good argument for other side - Blog of the Century:
The choice is stark. Republicans do not want to help the poor and unfortunate.
"Is it just me, or did Mankiw pen an argument for Obama here? I and other liberals are happy to have local governments discipline each other through competition. We’re happy to outsource and to use market mechanisms in other ways, where appropriate. President Obama’s “race to the top” is one example of such thinking.
It’s the other piece I’m trying to understand. Mankiw asks “if government’s job is also to remedy many of life’s inequities…” As if this were a puzzling question. Especially in these troubled times, I find it strange to wonder."
The choice is stark. Republicans do not want to help the poor and unfortunate.
"Is it just me, or did Mankiw pen an argument for Obama here? I and other liberals are happy to have local governments discipline each other through competition. We’re happy to outsource and to use market mechanisms in other ways, where appropriate. President Obama’s “race to the top” is one example of such thinking.
It’s the other piece I’m trying to understand. Mankiw asks “if government’s job is also to remedy many of life’s inequities…” As if this were a puzzling question. Especially in these troubled times, I find it strange to wonder."
It is not only about us.
A lot of the navel gazing about the decline of the US manufacturing sector was focused on the problems of the US society. Some of the trends; technology, globalization of the workforce and the growth of China impact everywhere.
Japan Fears 2011 Crises Speed Manufacturing Decline - NYTimes.com
Japan Fears 2011 Crises Speed Manufacturing Decline - NYTimes.com
Sunday, April 15, 2012
Friday, April 13, 2012
Cannibalize the Future
Anecdote of the Republican platform for 2012: Cannibalize Our Future.
Cannibalize the Future - NYTimes.com
Cannibalize the Future - NYTimes.com
How The Banks Stole Medicare
Repubs are the ones who do not want a crisis to go to waste. They want to use the economic crisis to dismantle the programs of the Great Society.
How The Banks Stole Medicare | The Baseline Scenario
How The Banks Stole Medicare | The Baseline Scenario
Tuesday, April 10, 2012
In 2012, No Religious Center Is Holding - NYTimes.com
In 2012, No Religious Center Is Holding - NYTimes.com:
Otherwise known as politicians who want to get elected.
"one of the country’s fastest-growing religious groups — what the Barna Group calls the “unchurched Christian” bloc, consisting of Americans who accept some tenets of Christian faith without participating in any specific religious community."
Otherwise known as politicians who want to get elected.
"one of the country’s fastest-growing religious groups — what the Barna Group calls the “unchurched Christian” bloc, consisting of Americans who accept some tenets of Christian faith without participating in any specific religious community."
Beating the Odds to Survive the Titanic’s Sinking
Winners and survivors get to write the history..
Beating the Odds to Survive the Titanic’s Sinking - NYTimes.com
Beating the Odds to Survive the Titanic’s Sinking - NYTimes.com
Fracking Boom Has U.S. Cutting Climate Warming Emissions
Interesting tradeoff. Fracking increases water pollution, but leads to lower levels of air pollution.
Fracking Boom Has U.S. Cutting Climate Warming Emissions - Bloomberg
Fracking Boom Has U.S. Cutting Climate Warming Emissions - Bloomberg
Let's Blame the Unions
Waiting for Superman compounded that awful meme that unions are responsible for the state of the US school system. The worst schools, Texas etc, do not have high ratio of unions.
Let's Blame the Unions - NYTimes.com
Let's Blame the Unions - NYTimes.com
Why Obama's JOBS Act Couldn't Suck Worse
Shot of Paul Ryan at the signing ceremony confirms that this bill is a sellout to Wall Street and against the interests of consumers.
Why Obama's JOBS Act Couldn't Suck Worse | Matt Taibbi | Rolling Stone
Why Obama's JOBS Act Couldn't Suck Worse | Matt Taibbi | Rolling Stone
Time for Kelly to Drop Stop-and-Frisk in New York
Time for Kelly to Drop Stop-and-Frisk in New York - NYTimes.com:
" A particular melancholy attends to the public official who can imagine nothing better than the flawed present. As crime plumbs historic lows, Mr. Kelly insists that his officers question, sometimes with guns drawn, sometimes with young men’s faces to the pavement, more New Yorkers than the population of Boston."
" A particular melancholy attends to the public official who can imagine nothing better than the flawed present. As crime plumbs historic lows, Mr. Kelly insists that his officers question, sometimes with guns drawn, sometimes with young men’s faces to the pavement, more New Yorkers than the population of Boston."
Monday, April 09, 2012
Your Safety Net on Block Grants
Bock grants, giving money to the states to spend freely, strips programs of there counter cyclical impact.
Your Safety Net on Block Grants | Jared Bernstein | On the Economy
Your Safety Net on Block Grants | Jared Bernstein | On the Economy
Where do people go when they drop out of the labor force?
Where do people go when they drop out of the labor force? - The Washington Post
About 35 percent of the people who have dropped out of the labor force since the recession began in 2007 do want a job, but they’ve become too discouraged to fire off resumes. That’s not good. The other 65 percent are people who have left the labor force and don’t want a job. Some of them are young and perhaps decided to go back to school. But the biggest chunk, by far, seems to be composed of Baby Boomers who have decided to retire early.
About 35 percent of the people who have dropped out of the labor force since the recession began in 2007 do want a job, but they’ve become too discouraged to fire off resumes. That’s not good. The other 65 percent are people who have left the labor force and don’t want a job. Some of them are young and perhaps decided to go back to school. But the biggest chunk, by far, seems to be composed of Baby Boomers who have decided to retire early.
The Gullible Center
The Ryan problem.
" a proposal to deny health care (and many other essentials) to millions of Americans, while lavishing tax cuts on corporations and the wealthy — all while failing to reduce the budget deficit, unless you believe in Mr. Ryan’s secret revenue sauce. "
Why is the middle attracted to Republican policies? Three reasons. There is a built in antipathy for those who are perceived as free riders and a contrived image of the rich as self driven success stories. In actuality the rich, skilled in economic combat, able to control more resource and with better access to corporate and government power is able to take advantage of more government largess than other. Second, there is the argument that redistribution, for whatever reason, is just not fair. Finally the are the wedge social issues of civil rights, women's rights, mental ill rights, gay rights and non christian rights. The battle has been portrayed as a zero sum game.
The Gullible Center - NYTimes.com
" a proposal to deny health care (and many other essentials) to millions of Americans, while lavishing tax cuts on corporations and the wealthy — all while failing to reduce the budget deficit, unless you believe in Mr. Ryan’s secret revenue sauce. "
Why is the middle attracted to Republican policies? Three reasons. There is a built in antipathy for those who are perceived as free riders and a contrived image of the rich as self driven success stories. In actuality the rich, skilled in economic combat, able to control more resource and with better access to corporate and government power is able to take advantage of more government largess than other. Second, there is the argument that redistribution, for whatever reason, is just not fair. Finally the are the wedge social issues of civil rights, women's rights, mental ill rights, gay rights and non christian rights. The battle has been portrayed as a zero sum game.
The Gullible Center - NYTimes.com
Saturday, April 07, 2012
Friday, April 06, 2012
Okun’s Law
On the relationship between unemployment and GDP growth.
An Elusive Relation between Unemployment and GDP Growth: Okun’s Law :: Emily Burgen, Brent Meyer, and Murat Tasci :: Economic Trends :: 04.05.2012 :: Federal Reserve Bank of Cleveland
An Elusive Relation between Unemployment and GDP Growth: Okun’s Law :: Emily Burgen, Brent Meyer, and Murat Tasci :: Economic Trends :: 04.05.2012 :: Federal Reserve Bank of Cleveland
Thursday, April 05, 2012
Wednesday, April 04, 2012
Social Darwinism or a Decent Society
Robert Reich (The Choice in 2012: Social Darwinism or a Decent Society):
"Here’s what Sumner had to say in his social-Darwinian classic “What Social Classes Owe to Each Other” (1883):
Let it be understood that we cannot go outside of this alternative: Liberty, inequality, survival of the fittest; not-liberty, equality, survival of the unfittest. The former carries society forward and favors all its best members; the latter carries society downwards and favors all its worst members.
Could there be a better summary of what today’s regressive Republicans believe?"
"Here’s what Sumner had to say in his social-Darwinian classic “What Social Classes Owe to Each Other” (1883):
Let it be understood that we cannot go outside of this alternative: Liberty, inequality, survival of the fittest; not-liberty, equality, survival of the unfittest. The former carries society forward and favors all its best members; the latter carries society downwards and favors all its worst members.
Could there be a better summary of what today’s regressive Republicans believe?"
Tuesday, April 03, 2012
Monday, April 02, 2012
Sunday, April 01, 2012
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