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Thursday, January 31, 2013
Wednesday, January 30, 2013
Tuesday, January 29, 2013
Empiricism
Study math
http://t.ritholtz.com/bigpicture/#!/entry/rise-of-the-empiricists,5107bfced7fc7b56700b0b38
Mark O'Friel
C: 914-907-7144
O: 617-903-0251
F : 419-710-3449
http://t.ritholtz.com/bigpicture/#!/entry/rise-of-the-empiricists,5107bfced7fc7b56700b0b38
Mark O'Friel
C: 914-907-7144
O: 617-903-0251
F : 419-710-3449
Pharmaceutical Companies Lead the Fight Against the Free Market
This is a great example of how the rich rig rules to get all the money. Then they let the loser liberals run around saying that we need the government to help the poor.
Pharmaceutical Companies Lead the Fight Against the Free Market | Beat the Press
Pharmaceutical Companies Lead the Fight Against the Free Market | Beat the Press
Monday, January 28, 2013
U.S. Plans Base for Surveillance Drones in Africa
Just what we need, another overseas base.
U.S. Plans Base for Surveillance Drones in Africa - NYTimes.com
U.S. Plans Base for Surveillance Drones in Africa - NYTimes.com
Sunday, January 27, 2013
Saturday, January 26, 2013
Not Everyone is Living Longer | Mother Jones
Income levels and income inequality with lifespan outcomes.
http://www.motherjones.com/kevin-drum/2013/01/not-everyone-living-longer
http://www.motherjones.com/kevin-drum/2013/01/not-everyone-living-longer
Friday, January 25, 2013
Thursday, January 24, 2013
Unions in America: 2012 Data
Unions in America. Their decline is one of the largest contributions to the growth of inequality.
Unions in America: 2012 Data | Jared Bernstein | On the Economy
Wednesday, January 23, 2013
Outsourcing tide is not likely to turn -
The in sourcing meme is just that. The fundamental factors still support outsourcing.
Outsourcing tide is not likely to turn - FT.com
Outsourcing tide is not likely to turn - FT.com
Do higher marginal tax rates lead superstar athletes to play less often?
Why marginal tax rates do not effect top earners. Higher rates do trickle down to accountants.
Richard's Real Estate and Urban Economics Blog: Do higher marginal tax rates lead superstar athletes to play less often?
Richard's Real Estate and Urban Economics Blog: Do higher marginal tax rates lead superstar athletes to play less often?
Home Depot Syndrom, the Purple Squirrel, and America's Job Hunt Rabbit Hole
Companies are too cheap to groom and grow workers.
Penn Gazette | Home Depot Syndrom, the Purple Squirrel, and America's Job Hunt Rabbit Hole
Penn Gazette | Home Depot Syndrom, the Purple Squirrel, and America's Job Hunt Rabbit Hole
Firms Keep Piles of 'Foreign' Cash in U.S.
Cannot say enough about how outrageous this is. The ability of companies to evade taxes and the hubris about it continues to stun.
Firms Keep Piles of 'Foreign' Cash in U.S. - WSJ.com
Firms Keep Piles of 'Foreign' Cash in U.S. - WSJ.com
Algeria Attack Puts Focus on Worker Security
Once again, BP running things on the cheap, pays for it in it workers' lives.
Algeria Attack Puts Focus on Worker Security - NYTimes.com
Algeria Attack Puts Focus on Worker Security - NYTimes.com
Israeli PM Netanyahu Scrambles to Keep His Job
Israeli PM Netanyahu Scrambles to Keep His Job - NYTimes.com:
What passes for democracy in Israel.
Netanyahu, who called early elections three months ago expecting easy victory, would be tapped to form the next government because the rival camp drew 12 of its 60 seats from Arab parties that traditionally are excluded from coalition building.
What passes for democracy in Israel.
Netanyahu, who called early elections three months ago expecting easy victory, would be tapped to form the next government because the rival camp drew 12 of its 60 seats from Arab parties that traditionally are excluded from coalition building.
Tuesday, January 22, 2013
Forecasting is hard, especially about the future
Jan 18
Is There Any Way to Defeat Venus and Serena Williams? - NYTimes.com
Jan 22
http://straightsets.blogs.nytimes.com/2013/01/22/venus-and-serena-williams-lose-in-doubles/?ref=global-home
Is There Any Way to Defeat Venus and Serena Williams? - NYTimes.com
Jan 22
http://straightsets.blogs.nytimes.com/2013/01/22/venus-and-serena-williams-lose-in-doubles/?ref=global-home
Progressives and the Safety Net
Henry J. Aaron for Democracy Journal: Progressives and the Safety Net:
Gradually raising the fraction of earnings subject to tax from the current 84 percent of earnings to the historical target of 90 percent of earnings, boosting the payroll-tax rate from 6.2 to 7 percent, and taxing currently exempt cash compensation would fully close Social Security’s projected long-term financing gap.
Gradually raising the fraction of earnings subject to tax from the current 84 percent of earnings to the historical target of 90 percent of earnings, boosting the payroll-tax rate from 6.2 to 7 percent, and taxing currently exempt cash compensation would fully close Social Security’s projected long-term financing gap.
Fixes for both problems are straightforward. Protection against costs of very extended illnesses could be added to the standard Medicare benefit package and paid for with a small increase in premiums for upper-income enrollees, so that the burden on taxpayers is unchanged. Those Medicare enrollees who want to avoid facing deductibles and cost sharing could be offered a “super-Medicare” option that reduces or eliminates deductibles or cost sharing, priced to prevent any increase in the net cost of Medicare to taxpayers. Premiums could be set a bit below those of current Medigap coverage because of savings from eliminating one layer of administration.
Medicare’s defenders take pride in its low administrative costs. The truth is that Medicare spends too little on administration. The program could lower overall spending somewhat if it spent a bit more in certain areas. Each dollar spent on policing fraud would yield several dollars in savings. More program managers could do a better job of making sure that when new procedures are approved as safe and effective, Medicare pays only for approved cases, not for others where safety and efficacy are unproven. Tighter administration is not the financial magic bullet, but if ever the old saying “a billion here, a billion there; pretty soon you’re talking about real money” had bite, it would be here.
Third, some Medicare beneficiaries can afford higher premiums than they now pay. Individuals with incomes below $85,000 and couples with incomes below $170,000 currently pay no more than 25 percent of the cost of Medicare Parts B and D, which cover doctors, drugs, and medical devices. People with incomes above those thresholds pay premiums that cover 35 percent to 80 percent of the actuarial value of coverage. It is simply not credible to argue that couples with incomes of $100,000 to $170,000 cannot afford to pay more than one-fourth of the cost of Supplemental Medical Insurance.
Cornell NYC Tech Will Foster Commerce Amid Education - NYTimes.com
Cornell NYC Tech Will Foster Commerce Amid Education - NYTimes.com:
“The university has been at the forefront of big science since the 1940s and 1950s,” said Isaac Kramnick, a professor of government at Cornell’s main campus in Ithaca. “Now it’s entering an era in which it seems to be interested in for-profit science, and that does require some thinking as to what the fundamental purpose of a university is.”�
“The university has been at the forefront of big science since the 1940s and 1950s,” said Isaac Kramnick, a professor of government at Cornell’s main campus in Ithaca. “Now it’s entering an era in which it seems to be interested in for-profit science, and that does require some thinking as to what the fundamental purpose of a university is.”�
Monday, January 21, 2013
Breaking Bad
“Let me put it this way: He’s not a boring priest,”
Drug Arrest Adds Name to a Connecticut Congregation’s Prayer List — Its Ex-Pastor - NYTimes.com:
Drug Arrest Adds Name to a Connecticut Congregation’s Prayer List — Its Ex-Pastor - NYTimes.com:
Sunday, January 20, 2013
Medicare Pricing Delay is Political Win for Amgen, Drug Maker
Why our medical costs are high: payoffs and bribery by the drug companies.
Medicare Pricing Delay is Political Win for Amgen, Drug Maker - NYTimes.com
Medicare Pricing Delay is Political Win for Amgen, Drug Maker - NYTimes.com
Saturday, January 19, 2013
The real surprise in the Fed’s 2007 transcripts: How much they knew, how little they understood
Prediction is hard, as Yogi Berra said, especially when it’s about the future.
The real surprise in the Fed’s 2007 transcripts: How much they knew, how little they understood
The real surprise in the Fed’s 2007 transcripts: How much they knew, how little they understood
Friday, January 18, 2013
Thursday, January 17, 2013
U.S. Sees Hazy Threat From Mali Militants
Like Vietnam, Iraq and Afghanistan before it.
U.S. Sees Hazy Threat From Mali Militants - NYTimes.com
Wednesday, January 16, 2013
Tuesday, January 15, 2013
Job Polarization in the 2000s?
Job Polarization in the 2000s? | CEPR Blog:
It is policy, not technology
Our view is, instead, that other factors are actually driving inequality, overwhelmingly related to policy issues. But, even if you think technology is still the main culprit, the data for the 2000s clearly suggest that this particular version of the theory is not relevant to current conditions. Technology-driven job polarization is, at best, a story of the 1990s.
It is policy, not technology
Our view is, instead, that other factors are actually driving inequality, overwhelmingly related to policy issues. But, even if you think technology is still the main culprit, the data for the 2000s clearly suggest that this particular version of the theory is not relevant to current conditions. Technology-driven job polarization is, at best, a story of the 1990s.
NYTimes: Parents’ Financial Support May Not Help College Grades
From The New York Times:
Parents' Financial Support May Not Help College Grades
A new national study found that the more college money provided, the lower the student's grades.
http://nyti.ms/10vhmb3
Parents' Financial Support May Not Help College Grades
A new national study found that the more college money provided, the lower the student's grades.
http://nyti.ms/10vhmb3
Monday, January 14, 2013
Sunday, January 13, 2013
The Two Sentences That Should Be Part of All Discussion of the Debt Ceiling
1) Raising the debt ceiling does not authorize one single penny in additional public spending.
The Two Sentences That Should Be Part of All Discussion of the Debt Ceiling - James Fallows - The Atlantic
2) For Congress to "decide whether" to raise the debt ceiling, for programs and tax rates it has already voted into law, makes exactly as much sense as it would for a family to "decide whether" to pay a credit-card bill for goods it has already bought.
That is all.
The Two Sentences That Should Be Part of All Discussion of the Debt Ceiling - James Fallows - The Atlantic
Thursday, January 10, 2013
Wednesday, January 09, 2013
In Old Taliban Strongholds, Qualms on What Lies Ahead
“The Afghan government is like a generator. The foreigners have provided enough fuel so that it will run until 2014. If they don’t refill the fuel tank, it will stop working.”
In Old Taliban Strongholds, Qualms on What Lies Ahead - NYTimes.com
In Old Taliban Strongholds, Qualms on What Lies Ahead - NYTimes.com
Tuesday, January 08, 2013
A guide to the liquidity coverage ratio, for whingers
Great chart on the regulatory life cycle. Works for gun control as well.
A guide to the liquidity coverage ratio, for whingers | FT Alphaville
Secret Goldman Team Sidesteps Volcker
It's all about regulatory arbitrage.
Secret Goldman Team Sidesteps Volcker After Blankfein Vow - Bloomberg
Secret Goldman Team Sidesteps Volcker After Blankfein Vow - Bloomberg
The New Mandate on Defense
Major savings, trillions of dollars over a ten year period, can come from cutting the defense budget.
Barney Frank for Democracy Journal: The New Mandate on Defense
Barney Frank for Democracy Journal: The New Mandate on Defense
Gun Nuts
Watch this to understand how gun advocates really feel. Be sure to read the comments. These people believe that "citizen militias that are the last line of defense against a tyrannical government".
Creator of the 'Deport Piers Morgan' Petition Loses It on Piers Morgan's Show - Politics - The Atlantic Wire
Creator of the 'Deport Piers Morgan' Petition Loses It on Piers Morgan's Show - Politics - The Atlantic Wire
Platinum Coin
How to avoid the debt ceiling limit.
PRAGMATIC CAPITALISMPhilip Diehl, Former Head of the US Mint Addresses Confusion Over the Platinum Coin Idea - PRAGMATIC CAPITALISM
It might not be constitutional:
http://www.motherjones.com/kevin-drum/2013/01/no-1-trillion-platinum-coin-not-legal
And another view.
PRAGMATIC CAPITALISMPhilip Diehl, Former Head of the US Mint Addresses Confusion Over the Platinum Coin Idea - PRAGMATIC CAPITALISM
It might not be constitutional:
http://www.motherjones.com/kevin-drum/2013/01/no-1-trillion-platinum-coin-not-legal
And another view.
Edward Lazear: Chinese 'Currency Manipulation' Is Not the Problem -
The interesting case where currency rates do not seem to impact trade.
Edward Lazear: Chinese 'Currency Manipulation' Is Not the Problem - WSJ.com
Edward Lazear: Chinese 'Currency Manipulation' Is Not the Problem - WSJ.com
"the soil is different here"?
Some attitudes in Japan never change:
"“Even if a method works overseas, the soil in Japan is different, for example,” said Hidehiko Nishiyama, deputy director at the environment ministry, who is in charge of the Fukushima cleanup. “And if we have foreigners roaming around Fukushima, they might scare the old grandmas and granddads there.”
Japan’s Cleanup After a Nuclear Accident Is Denounced - NYTimes.com
"“Even if a method works overseas, the soil in Japan is different, for example,” said Hidehiko Nishiyama, deputy director at the environment ministry, who is in charge of the Fukushima cleanup. “And if we have foreigners roaming around Fukushima, they might scare the old grandmas and granddads there.”
Monday, January 07, 2013
If we can’t kill farm subsidies, what can we kill?
When I owned a farm, I received government checks every year. The most represented zip code of checks is 10020, upper east side NYC.
Robert J. Samuelson: If we can’t kill farm subsidies, what can we kill? - The Washington Post
Robert J. Samuelson: If we can’t kill farm subsidies, what can we kill? - The Washington Post
The Big Fail
An economy is not like a household:
For an economy is not like a household. A family can decide to spend less and try to earn more. But in the economy as a whole, spending and earning go together: my spending is your income; your spending is my income. If everyone tries to slash spending at the same time, incomes will fall — and unemployment will soar.
The Big Fail - NYTimes.com:
For an economy is not like a household. A family can decide to spend less and try to earn more. But in the economy as a whole, spending and earning go together: my spending is your income; your spending is my income. If everyone tries to slash spending at the same time, incomes will fall — and unemployment will soar.
The Big Fail - NYTimes.com:
Sunday, January 06, 2013
Behavior Lessons for Leadership and Teamwork
Good advice: it is important to know when to play high (asset yourself) and when to play low (accept authority) in school, work and sports.
Behavior Lessons for Leadership and Teamwork | Stanford Graduate School of Business
Behavior Lessons for Leadership and Teamwork | Stanford Graduate School of Business
White House weighs broad gun-control agenda in wake of Newtown shootings
Note the number and the tone of many of the comments. This shows how difficult passing significant laws on gun control will be.
White House weighs broad gun-control agenda in wake of Newtown shootings - The Washington Post
White House weighs broad gun-control agenda in wake of Newtown shootings - The Washington Post
'Mint the coin': why the platinum coin campaign doesn't even work as satire
The debt ceiling, really the default ceiling, must be raised. There is no other responsible course of action.
"A Congress like this doesn't need to be reminded of how ridiculous it is; it already knows that. It needs to be reminded of the nobility and dignity and importance of the offices they agreed to hold, and which they are now dragging through the mud."
'Mint the coin': why the platinum coin campaign doesn't even work as satire | Business | guardian.co.uk:
"A Congress like this doesn't need to be reminded of how ridiculous it is; it already knows that. It needs to be reminded of the nobility and dignity and importance of the offices they agreed to hold, and which they are now dragging through the mud."
'Mint the coin': why the platinum coin campaign doesn't even work as satire | Business | guardian.co.uk:
Saturday, January 05, 2013
After Years in Solitary, an Austere Life as Uruguay’s President
Meanwhile in the US, politicians spend all their time figuring out how to make the most once out of office.
After Years in Solitary, an Austere Life as Uruguay’s President - NYTimes.com
After Years in Solitary, an Austere Life as Uruguay’s President - NYTimes.com
The Myth of Africa's Rise
There have been a recent spate of articles on the rise of African economies, with the suggestion that the area is on the verge of an East Asian style breakout. The counter argument is here:
The Myth of Africa's Rise - By Rick Rowden | Foreign Policy
The Myth of Africa's Rise - By Rick Rowden | Foreign Policy
Friday, January 04, 2013
NFP: 20 Years of Net Job Creation
Larger trends showing the net job creation by sector in the last 2o years.
NFP: 20 Years of Net Job Creation | The Big Picture
NFP: 20 Years of Net Job Creation | The Big Picture
Thursday, January 03, 2013
Wednesday, January 02, 2013
Who Pays for the Right to Bear Arms? - NYTimes.com
Gun control, which is opposed most vehemently by old white men, actually is really aimed at young black males. That demographic would also benefit most.
http://www.nytimes.com/2013/01/02/opinion/who-pays-for-the-right-to-bear-arms.html?partner=rss&emc=rss&_r=0
http://www.nytimes.com/2013/01/02/opinion/who-pays-for-the-right-to-bear-arms.html?partner=rss&emc=rss&_r=0
The Technium: The Post-Productive Economy
The Technium: The Post-Productive Economy:
Civilization is not just about saving labor but also about "wasting" labor to make art, to make beautiful things, to "waste" time playing, like sports. Nobody ever suggested that Picasso should spend fewer hours painting per picture in order to boost his wealth or improve the economy. The value he added to the economy could not be optimized for productivity.
Civilization is not just about saving labor but also about "wasting" labor to make art, to make beautiful things, to "waste" time playing, like sports. Nobody ever suggested that Picasso should spend fewer hours painting per picture in order to boost his wealth or improve the economy. The value he added to the economy could not be optimized for productivity.