Assorted links

by on February 20, 2015 at 3:48 pm in Uncategorized | Permalink

1 T. Shaw February 20, 2015 at 4:21 pm

#2 – They brought it on themselves. The purposes of regulatory capital – restrict excessive growth and risk taking; absorb losses; and protect variouis interests: depositors, FDIC Insurance fund, taxpayers, and general creditors.

This is one of the costs of the bail-outs. Others insclude the Dodd Frank Act (e.g. the Volcker Rue) and the Consumer Financial Protection Bureau (CFPB).

2 Jamie_NYC February 20, 2015 at 5:54 pm

True as far as it goes (another way to look at it is that Wall St. got the blame for the crash of the US housing market). But consider this: the required return on capital is determined for an economy as a whole (because capital is mobile and will nost stay for long in an industry with sub-par returns). If the same business requires more capital now, someone has to pay the extra fees. Some of it will be made up by reduction in expenses (compensation), but not that much: I would bet GS now pays an Analyst $200k for 60-hour workweek, where in 2007 they were paid $300k for 80 hours. These things do not come out according to your ‘moral preferences’…

3 Kevin Erdmann February 20, 2015 at 9:44 pm

Exactly, Jamie. Articles like that are so frustrating, because the writer clearly has made no attempt to understand how a competitive industry works. First, the graph shows that bank revenue growth has been slowing for 4 decades, which hardly fits the tone of the article. Then they talk about how banks are “still churning out profits”, as if the past decade has just been a walk in the park for banks, and they’re just shoveling in the profits while the rest of us suffer. Then, they note that while earnings are strong, revenue has stagnated, and capital requirements are higher. And they seem to have no idea that those things are all connected. If you impose higher capital requirements on banks, revenues will stagnate and profits will rise as a result. It’s inevitable.

To New York Times reporters, the economy looks like a cubist painting.

4 Jan February 20, 2015 at 10:40 pm

Bank revenue growth has been slowing for decades. Hmm. Profits are now at near record levels. The assault on banks is going exactly as planned!

http://www.wsj.com/articles/u-s-banking-industry-profits-racing-to-near-record-levels-1407773976

5 Thomas February 21, 2015 at 2:33 pm

9/10 of the top grossing movies of all time were created since the year 2000. I… can’t… imagine… why.

6 Tom Warner February 20, 2015 at 4:59 pm

Looks like Tsipras is caving, although this is not yet actually a deal. It puts the ball back in Tsipras court to come up a credible fiscal plan for at least this year. It signals flexibility on primary surplus target misses caused by “economic circumstances” but doesn’t suggest any license to loosen fsical policy.

7 So Much for Subtlety February 20, 2015 at 5:02 pm

1. What Chris Blattman has been reading.

At what point do you think that the conventional fictional representation of war takes over completely from the actual representation? I would not go so far as to say that clearly all soldiers had a great time, enjoyed what they did immensely, and had no problems whatsoever on coming back, but I think it would be more accurate that the post-Vietnam belief that all soldiers are the walking mentally ill.

Redeployment seems spectacular crap to me. Precisely because it won so many awards from the sort of people who would cross the street to avoid the sort of people it claims to represent sympathetically.

3. Yet more cruelty to robot dogs.

Chalk one more up to Humanae Vitae I think. Yes, how did that rejection of biology and the historical roles of families work out for them and us?

8 what would ernest borgnine do February 20, 2015 at 10:07 pm

“Humanae vitae tradendae munus gravissimum…” (the official but fallible non-Latin Vatican translations focus in a sad non-Caplanian SJW way on the devoir/dovere/duty possibility of munus, which has been less often used, I am fairly certain, by Latin speakers than the don/donato/gift sense of munus. I am backed up in this by the internet’s Perseus Latin Word Study tool, munus definitions A, B, and C (most quotes at C, where munus means gift, not duty}. “The bequeathing/generation of human life is a (or the) most deep and strong (or weighty) gift…”…No university eco points for knowing this, of course, but it is worth knowing, particularly if, in our days, you are familiar with the prophecy that the Lord “can make sons of Abraham” from the “stones on the side of the road” ( but I digress ). Anyway. anyone who kicks a robot dog harms only his or her self, and needs an intervention. Robot dog equals canary in a coal mine, in this sense, without the actual canary in the actual coal mine’s tragic last hours and minutes. Markets in everything, as someone once said.

9 Urstoff February 20, 2015 at 11:57 pm

Well it is fiction. Most families aren’t as dysfunctional as those you find in novels, most people’s lives aren’t as tragic. Of course fiction about war is mainly going to focus on the psychological trauma of it. There’s always military pulp and techno thrillers if you’d rather read that.

10 Mark Thorson February 20, 2015 at 5:19 pm

How do the Japanese handle their iPhone dying? I suppose Siri is always Siri so she’s not dead, but if you had the opportunity to personalize your iPhone with an individual name that might not be the case.

11 RM February 20, 2015 at 7:34 pm

How is kicking your robot dog any different from kicking your desktop on the floor when it is not working?

12 Thor February 20, 2015 at 8:20 pm

Short answer: there’s always a chance the desktop will change its performance in some way, after a swift kick. But you can’t teach a new robot dog new tricks.

13 Thomas February 21, 2015 at 11:14 pm

Percussive maintenance.

14 Yancey Ward February 20, 2015 at 8:52 pm

Greece’s government bought some time to get their tax collection apparatus going again. If they can somehow manage a way back to a primary surplus, they may yet tell the Troika to stuff it. The problem will be that it looks like the Greeks caved, and the government will have a hell of time explaining that to the people who voted them into office in the first place. In any case, let’s wait to find out what happens in June.

15 Anon. February 21, 2015 at 7:15 am

They’re playing it off as a win. The media is eating it up. The people will do whatever they’re told, and they really really really want to believe they won against the evil Germans so when Syriza tells them they did, they believe it.

16 Yancey Ward February 21, 2015 at 12:32 pm

Maybe you are right. It is usually a bad thing to overestimate voters.

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