1. "Cheap talk with multiple audiences": assorted theories of Mitch McConnell.
2. What does high status email look like?
3. What happened to the future?
4. Trading on a quick computer read of digitized information.
5. What are the chances of muni doomsday?
6. Preemptive markets in everything: BOA edition.
7. Follow Basel III, the euro, Switzerland, etc. on Twitter.
8. One skeptical view of Denisovans.
You should be saying what happened to the "Future." http://ngrams.googlelabs.com/graph?content=future…
John Thacker:
Hush, now. We only criticize Republicans and conservatives on this website.
It's telling that Mr. Klein, in the first-linked article, labels his conceit that "most conservatives are bigger partisans than they are ideologues" not as a partisan projection — which would be correct — but as an "insight".
There is zero probability of a state GO bond default. The special project and revenue bonds are another matter.
The main problem for states is the cost of funds for renewing their debt. Debt service will consume more of the budget, forcing more service and employment cuts. Frankly, that's fine by me. The services are already at rock bottom for the general public. Cutting public employee rolls or salaries, and benefits are long overdue.
There's a risk of tax increases, but even states like California are vehemently opposed to it. Taxes are a hard sell when people can clearly see government waste.
In recent decades, "future" appears to be roughly the inverse of "Christmas" (http://ngrams.googlelabs.com/graph?content=Christmas%2C+future&year_start=1800&year_end=2008&corpus=0&smoothing=0). Perhaps something about optimism leading to enthusiasm for the new vs. pessimism leading to seeking comfort in tradition?
Several states defaulted, some temporarily, some permanently, on their debt around the 1840s.
This affected the ability of Confederate President Jefferson Davis to raise debt in Europe in 1860 to 1865, because one of the prominent advocates of the righteousness of default was United States Senator Jefferson Davis…
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