Friday assorted links

Comments

3. What exactly is the “conflict of interest” here? Presumably, both the American university and the Chinese university have aligned interests—namely, solving the sustainability and conservation problems they are researching. Moreover, I doubt this would have resulted in a criminal prosecution, as opposed to a simple termination of employment, if the professor had been moonlighting for a non-Chinese institution. It’s sad to see the scientific progress of humankind delayed by geopolitics and discrimination.

This is a clash of civilizations, and if both civilizations must suffer, so be it.

Apparently.

I thought the most interesting part of the story was the genetically modified rice used to treat human diseases including osteoporosis.

Where can my wife get that rice?

Respond

Add Comment

Respond

Add Comment

The article says the crime is fraud. The professor was drawing salary from a US government grant at the same time he was drawing a salary from a Chinese university. US government sponsored research always requires supported researchers to submit an accurate "current and pending" report listing all financial support for their research. This professor's current and pending report was fraudulent.

Respond

Add Comment

Respond

Add Comment

#1. Not rocket science.

Employee Development Plans (sadly still a thing) - develop your weaknesses, not your strengths. Throw out all those old business books.

Do the hard stuff on your list first.

Eat your least favorite jelly beans first.

Respond

Add Comment

8. The moment when Summers drives into the ditch:

"The one thing that was taught as axiomatic to economics students around the world was that monetary authorities could over the long term create as much inflation as they wanted through monetary policy. This proposition is now very much in doubt."

Seriously.

If the Fed can't generate inflation with "enough" QE, why not buy up the entire outstanding Treasury debt and retire it? It's mind-boggling that people who actually think that the Fed actually couldn't generate inflation are actually in charge and making decisions that affect the entire country on a big-time scale. It seems like the 98% of the profession is stuck in a misguided "interest rates" framework of thinking that leads to absurd propositions like the one quoted above.

Totally agree. It is scary that someone like Summers is so influential. If Venezuela can generate inflation with a massive recession we certainly can.

Respond

Add Comment

Respond

Add Comment

You can create as much money as you want as long as you make sure none of the new money is paid to workers.

Giving trillions to very rich people who cant possibly pay trillions to workers to make burgers, even non-meat burgers that currently require paying five times as many burders, will not create enough labor demand when only a thousand very rich people are switching the burgers they buy.

Very rich people are not going to build transportation with their money because almost everyyone comes out with knives to cut you down. For example, Elon Musk has proposed several deals, and signed one deal, to build transportation with his own money paying workers. These deals are opposed and he's been forced to give up each one.

Maybe he's failing like Trump by failing to demand eminent domain power to destroy other people's property. Which also brings out the knives in opposition.

Its all about making sure workers are not paid with the new money.

Anti-Keynesian policy is all about not paying more to workers.

When you pay more to workers, workers can spend more, which drives up prices as demand exceeds supply wich either leads to capitalists paying more workers to build factories, driving up labor prices, or drives up consumer prices driving workers to strike for higher wages.

As long as the new money never gets paid to workers to build new capital, there will be no inflation.

Note, no where does Summers, or any reply, talk about paying workers a lot more.

The number one unstated economic policy is to never pay more money to workers to work.

This is based on the theort that paying more workers to work costs too much and kills jobs making workers worse offf. Instead workers are made better off by paying them less to work, then government subsidizing their buying of what is produced by lower labor costs and higher profits.

But to have higher and higher profits, central banks need to create more money to go into the pockets of those getting the high profits they simply can nott spend paying workers in higher consumption.

Respond

Add Comment

Respond

Add Comment

#2 . In the original study: "non-disadvantaged students who attend 4-year colleges short of a credential receive almost no increase in earnings" and then "The analyses presented here document substantial employment benefits from attending either a two-year or a four-year college for those students who do not complete a degree or credential"

There is very little control for cause and effect here.

Respond

Add Comment

So, the Chosen one has written this - 'Our great American companies are hereby ordered to immediately start looking for an alternative to China'

Who knew that America had a command economy?

So let us hear from the Trump supporters about how having a president ordering companies how to act is part of making America great again.

And this is why I remain optimistic that the Chosen One's buffoonery will continue for at least another 72 hours.

He meant "advised".

Its smart advice. US companies using China as a product source are foolish. Its not just Trump, Sanders and Warren are going to do trade battle with China if they get elected.

I have no idea what he meant, as I do not speak for the President. I merely precisely quoted what he wrote.

Then you probably missed the point. As a sage said Trump's opponents take him literally but not seriously; his supporters take him seriously but not literally.

So, how does Denmark or Greenland take him, particularly in light of both his words and his actions?

Anyone following just this week's events in terms of President Trump undoubtedly realizes that it is not possible to take him seriously or literally.

Presumably the Danes are familiar with King Canute and the tide.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

Glorious President Trump didn't "order" all American companies, only the American companies that previously shipped to China millions of Americans' manufacturing jobs. If he were a Democrat, like Obama or Hillary, he'd be happy with the transshipment of deplorable Americans' jobs.

Respond

Add Comment

This is the good part of Marginal Revolution. It's the place where you can hear people stupid enough to throw in with a third-rate goober like Trump explain why it's OK he's acting like more of a fifth-rate goober. This should get good.

Good meta comment. Funny, incisive. But we, civilization is in serious trouble.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

8. When asset prices collapse in the next crisis, what is the Fed to do? Prop up stock prices per Farmer (i.e., with the Fed buying equities)? Or, per Cowen's Austrian friends, let asset prices collapse. The former has no advantage: politically, economically, or otherwise. The latter has this advantage: it will "cure" inequality (the wealthy own most of the assets) and . . . . . . . . . . . . . the aggregate demand problem. The ellipsis is meant to refer to what comes before the "cure": a long period of economic (and likely political) turmoil. Of course, we could be proactive and avoid the unruly market correction to what's wrong, but I'm not holding my breath. The Austrians will have their day. For those who don't have tenure, sorry.

Is there a worse macroeconomic muddle than a half-baked Keynesian/Austrian hybrid analysis?

Maybe MMT.

BD: You are one of the beacons of reason around here.

I'm retired and seriously have nothing to do besides trading here and there.

I have a doc outlining concepts of MMT I lifted from two articles recently published in Barron's.

One of these days, when I finish doing nothing and I have had a root canal procedure on every tooth in may head, I'm going to waste time trying to figure out how a cogent individual could embrace MMT.

We're embracing it now, hun.

There are some funny algorithms out there, Pal, dontcha think?

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

There was absolute nothing Keynesian is any of the stuff ciurrently proposed by virtually everyone advocating economic policy.

For example, 99.999% of references to Keynes proposing buring jars of money think Keynes is proposing printing money.

To the contrary, Keynes is proposing paying more worker so people mow have money to spend paying workers to produce stuff.

The point of burying the jars of money is so businesses will hire workers to dig up the jars of money. If the point was simply printing money, Keynes would have simply called for giving cash to the "rich", because its the "rich" who pay workers to get the cash in the jars.

Note, FDR raised the number of dollar paid to mining companies paying workers in 1933, and that doubled the number of US workers paid to mine gold in about a year. Precisely Keynes proposal for burying cash in jars withoiut needing to pay Treasuury employees to bury the jars.

If the policy is not focused on paying more money to more workers to build more productive capital, roads, water and sewer, factories, then it is not Keynesian.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

This more traderly and less academic thread by @KevinMuir offers an interesting parallel perspective.

https://twitter.com/kevinmuir/status/1163424601852076033

Summers seems to think monetary policy can be patched up and made to work. Muir is saying game over, a regime of fiscal policy is about to begin.

Marketing strategist with a Twitter account versus Larry Summers.

This is the Econ version of creationism, but via tweet instead of televangelist.

It does come at a time when macro is not just doubting itself, it is examining its foundations.

Thus, a hard some for macro to say "but that ain't science!"

Respond

Add Comment

He calls himself a "market strategist", not "marketing". As in stock and bond markets, presumably.

Famous economists are as bad as anyone else at economic forecasting, so this is not the place for an argument from authority on the basis of credentials.

Respond

Add Comment

Respond

Add Comment

Not only Larry Who?

After the 2008 catastrophe, the powers that be in Congress and the White House gave the Fed more powers. The one consistency since 1913 is the worse it does, the more powers the Fed is given.

See Dr. Kaufman's recent book.

For what it's worth, take everything from the sell side with a "grain of salt."

You're missing the point. Celebrate the goober, man. It's what you do best.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

#3: it wouldn't surprise me if he's bloody guilty. He's an academic, and the one thing that prevents academics in this country from shilling for foreign interests is risk-aversion. The smart money says that's the only thing in most cases.

Let us be blunt. The do-nothing approach of federal authorities emboldened traitors. If Disney can give America the bird, why not a professor? If it was up to me, I would have made an example out of her, would have revoked her citizenship and blacklisted her.

Common people are just following the bad example "their betters" are giving.

Walt Disney was a Soviet agent. His most lucrative creation was a worm-tongued duck in a Soviet Navy uniform. He was redder than the President of Denmark.

Respond

Add Comment

Please wipe the foam off your mouth. She was commenting on HK and did not say anything against US so why is she a traitor??

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

lol, "Our great American companies are hereby ordered to immediately start looking for an alternative to China" - The President of the United States

I'm sure "libertarians" will find a way to wrap their head around that "order" as freedom.

And not authoritarianism in any form.

MAGA2020

You'll be snarking out of the other side of your face when Barr finds the e-mails.

The ones between Epstein and his dad?

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

#1 On the the other hand

Proverbs 22:29 29 Do you see someone skilled in their work? They will serve before kings; they will not serve before officials of low rank.

For example as a student you should focus most on your strength rather, avoid your weaknesses. Like if you are better at math than English study math more and try to get the easy grader English teacher.

I don’t think they are inconsistent- the link addresses narrow sub specialties and your bible verse addresses the entire field you work in.

Right, but as with the whole question of specialization vs being a generalist, that means that the key question is: what counts as a narrow specialty and what counts as the broad field?

When is it the right time to focus on our weaknesses, and when is it right to build on our strengths?

In some cases it's easy, I'm not an English professor so if I read a Jane Austen novel I'm just going to read the novel, and maybe a few posts that I skim from the web, I'm not going to delve into the literal bookshelves of writing and analysis of Austen and her works. So I'm not even going to try to increase my expertise there, beyond reading the novel and a few essays.

And even within my profession, there are whole sections of it where I skip the workshops and webinars and articles because "it's not what I do", instead I focus on new developments and skills that are closer to what I do.

But that still leaves a lot of gray areas where we have to wonder if we should pursue more knowledge or skip it and focus on something else. Including in particular the important question that Tyler and others have raised about how much division of labor is too much, vs the greater flexibility and resilience of being a generalist. What if I want to switch careers in the future -- or just have the flexibility to be able to make a switch if needed?

This is indeed food for thought.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

#2 1-12 credits coming in above 13-60 credits makes me think the sample was too small to tell much.

A sample size of 200,000+ is certainly sufficient for statistical purposes.

Respond

Add Comment

Respond

Add Comment

Twitter threads are an abomination, please stop promoting them and instead nudge the authors towards an appropriate medium. They betray the author as out of touch and oblivious because, hey, old people love misusing technology.

I don't know, threads can be pithy and interesting

https://twitter.com/KatzOnEarth/status/1164941913721581568?s=19

That is, when they are not an infirm president sinking international relations or the stock market in an angry tweet thread. Principals in any great enterprise should dial it down. With great power comes great responsibility.

Respond

Add Comment

Respond

Add Comment

3. What a joke, 10 years jail for taking a 35k grant for a lack of disclosure. He probably just didn't take it seriously when the grant amount was so small.

Respond

Add Comment

I need to see evidence that courses taken were instrumental on higher wages/productivity. Otherwise I'm still with Caplan. It's still signaling.

Respond

Add Comment

#6 hahaha Eric Weinstein demonstrated the problem when he said James Demore's post was tone deaf. It was no such thing. He was quite careful and kind.

Excellent discussion though. Maybe it was Straussian.

Respond

Add Comment

Demore's error in a nutshell:

"Women on planet Earth don't generally become accomplished in the computer technology fields. For a variety of reasons.

Therefore any company (no mater its size relative to planet Earth) should not expect to find many (again relative) women with those skills."

Silly, right? Because even if the world fraction is low, the fraction applying to as glamorous a destination as Google can still be high.

The group of people applying to Google is self-selected by interest.

Doesn't that just push the question out to the rest of the companies? If there are a lot fewer top tier women programmers than men, and the demand for top-tier programmers is high, then maybe Google can find enough to fill their ranks, but only by paying a lot more in salaries. And companies with less money won't be able to hire any top-tier women programmers.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

American kingmaker and philanthropist Mr. Koch has dies.

....."has dies."
To manufacture what?

Respond

Add Comment

God does not play dies.

Respond

Add Comment

It is a typo. This keyboard is too small.

Respond

Add Comment

Respond

Add Comment

#1 - The last point is probably the most important, but also the hardest to conceptualize for mediocre players like me. But all of those tips were excellent and worth incorporating into my practice regimen.

On the other hand, if you have a natural talent for something you can practice less and also you probably only want to try more difficult things as you would get bored with easy stuff that lesser beings have to practice. So I am not sure that these insights are really going to allow a poorly talented person to become a great one.

Respond

Add Comment

Respond

Add Comment

So is Larry Summers bullish about a war with China?

Respond

Add Comment

#5 I hate this guy.

I believe he’s a she. Sort of a babe, but a really annoying babe.

This

Respond

Add Comment

Respond

Add Comment

Delightful, except...
All references to Cheryl Strayed. She is a horrible liar, and pretty much everybody who has actually hiked the PCT or AT hates her (unless they are trying to cash in somehow), as well documented here: https://cherylstrayedisaliar.blogspot.com/

Respond

Add Comment

Respond

Add Comment

#2...Some arguments are asinine on the face of them. Telling people not to go to college because they won't benefit financially is akin to telling people not to read or study the Bible because studies have shown it doesn't make you a better person, it just signals that you're religious. Well it might help you if you try it, unless you base your life on generalities from academic studies. When I opened my business with two partners many moons ago we were told it couldn't work. I found 25 years to constitute worked. This view is only slightly less sensible than Peter Thiel telling people to only study certain fields or not go to any college he deems up to snuff.

The problems of cost and debt are serious, but better counseling about where to go might help this problem. One of my best friends from college went the to a local community college, then a state college, and then a state college medical school. He's now a professor at the University of Michigan Medical School. There are cheaper ways to get a good education, without writing it off based upon grand generalizations.

Respond

Add Comment

#5: starts out well but becomes rambling and over-long. Granted she's earned some slack, as a sort of Most Interesting Woman in the World who gets slammed with a medical condition like Jane Austen getting Addison's Disease. I presume she's forced to be a homebody now rather than a traveller, the first few paragraphs of the essay made me think that this has forced her to think and work inwardly (rather than simply conveying information about travel spots) and resulted in very good writing, but then the rest of the essay meandered and lost focus.

Which is not to say that she's even been a bad writer, but the essay started out as potentially her best-written one of the ones that I've read.

She mentions her forgone “top tier” legal career a bit too much for me. It’s like she is worried we might not take her seriously as a writer or traveller. She is also rather vain.

I mention it because there are a lot of new readers who have csf leaks / pain issues who don't know the backstory. Not worried about opinions, just trying to give context because the more personal pieces are ones that end up linked via other sites - like this one - and i try to make them more standalone. That and it's still a bit surreal to be in bed all day every day after living two very different lives so far. Will take your thoughts to heart, though thanks.

@mkt42 - more than a homebody - can stand about 30 mins a day before the brain sag kicks in. So I can't really type much, and voice to text hasn't worked well for how I write. Sorry you found the piece rambling, but honestly I wrote it v quickly and shared since I've not written in a long time. (Also why I added more background/context)

Not defending, but rather explaining. Thx for reading it either way.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

#8: commenters seem to be taking different messages from Summer's thoughts (granted, that's no surprise). The thought that came into my head, although I don't think this is what Summers intended, is that maybe demand-side macro tools have lost their effectiveness and supply-side tools are the way out of secular stagnation. I.e. tax cuts and deregulation. IIRC Summers' advisor was Martin Feldstein? Somewhere he's doing whatever the opposite of rolling over in his grave is;, smiling in his coffin or whatever. And Trump too, although I suspect Trump ignores what Summers says.

Deregulation eh,

"The Executive Order eliminating protections for Grand Staircase-Escalante National Monument was illegal and no management plan for these lands should proceed until the resolution of the lawsuits." - recent ruling

There isn't so much "unnecessary red tape" to eliminate, so just whack the national monuments.

Respond

Add Comment

Why not do both supply side and demand side approaches. Personally I think demand side is only for recessions, and supply is good for all seasons. But anyway it is nonsense what he says about demand side stimulus being exhausted because of the zero bound.

Respond

Add Comment

Respond

Add Comment

How much of the market swings lately could be due to Chinese investors? How does intellectual property theft figure in the theory of comparative advantage?

Little to none. The market fell because the president is batshit and just slapped a $30b tax on the economy.

https://www.washingtonpost.com/business/2019/08/23/china-hits-us-with-tariffs-billion-worth-goods-reinstates-auto-levies-state-media-report/

Oh yeah, and he publicly declared Xi an enemy. That's always good. A smooth way to deal with your largest trading partner.

Respond

Add Comment

Respond

Add Comment

7. I presume it reads, "Not an autonomous vehicle."

Okay, that's apparently not what the link says, but it's still a good guess.

Respond

Add Comment

"THE MEMORIES OF ALL THOSE TIMES WHERE WE DID SOMETHING KIND FOR SOMEONE WE CARED ABOUT"

I know much more about HVAC than you would think

Can I , with all humility, say this:

(I have heard the greatest sonatas of Beethoven played by students of students of Beethoven, and that is not nothing, but, to tell the truth, while I was impressed, I was not as impressed as I was THAT DAY WHERE I SAW THE MORNING LIGHT CAST ITS RAYS OVER THE BELOVED SUBURBS OF NORTHERN VIRGINIA)

Comment Number One includes lots of good advice (practice well)

But let's stop for a minute or two pretending that ART is something that we need to feel humble about

It isn't

NOBODY IN THE ENTIRE HISTORY OF THE WORLD HAS EVER CARED IF THE PERSON THEY LOVED PLAYED THE WORKS OF CHOPIN A LITTLE LESS WELL THAN THEY COULD HAVE

(God bless you if you have ever once thought that you would be so so so happy if only you could play the piano the way Chopin, God bless his ambitious little heart, wanted you to play the piano .....)

Well, even though my comments are often deleted here (sad! but also funny - the "Lords" of Silicon Valley, who I was kind to when they were young, never let my efforts be quashed ----- they know I know what year this is ....anyway, let me tell you something you maybe need to know

NOBODY CARES IF YOUR PERFORMANCE OF CLASSICAL MUSIC IS GOOD OR BAD as long as you are trying to be someone who is trying to be a friend to a fellow creature, to be someone who loves others and in your turn is also loved

adopt a dog or a cat

that is more important that this:

IT IS MORE IMPORTANT TO BE KIND TO A DOG OR A CAT THAN TO BE SOMEONE WHO THINKS THEY HAVE REAL INSIGHT INTO THIS WORLD

this is 2019 in 2020 the copyright will expire on the 2019 book, written by Joseph Lhevinne, where the Maestro explains ....

To be a good piano player, all you need to do is treat the keyboard with respect, practice playing the notes as if you WERE CERTAIN THEY ARE NOT AND NEVER HAVE BEEN IN A FOREIGN LANGUAGE

Cor ad cor loquitur

Respond

Add Comment

as always, the one or two typos were on purpose

Respond

Add Comment

Respond

Add Comment

why do I bother

Respond

Add Comment

I bother because I care

Respond

Add Comment

8. Three things are happening. The technology is available to replace many workers. The productivity increases have been remarkable. What that means for prices is they don't increase, in fact decrease. Many things in nominal dollars are cheaper than they were 30 years ago.

Labor is available for cheap elsewhere. If what you produce requires assembly labor, you can do it for far cheaper. The logistics chains are cheap due to technology.

Capital applied can accomplish all these things. Investing in technology and supply chains keeps prices down.

So for most things prices are constant or very minor increases. Labor prices don't change very much, there are billions of workers available for cheap.

So the Fed has made capital available for cheap, hoping to spur some price increases. Pre technological revolution with globalization, this would have driven investment, increases employment, spurred consumption demand. But in the current situation it makes cheap capital available to those who would invest in automation technologies, making more and more sectors of the economy more productive and keeping down prices. This capital also makes it possible to develop supply chains that take advantage of cheap labor, again keeping prices down. Labor costs don't go up because there isn't the demand and the price of labor is contained by foreign competition. So little inflation.

But it does other things as well. The labor required for this automated and global market is highly skilled and well paid. Skilled workers in all sectors get more money, because there is high demand for cognitive ability. This creates a two world situation; the highly skilled in high demand and the less skilled disposable.

The cheap capital also creates demand for assets such as property and housing. It also allows for more government than would otherwise exist, who default to no and added expense of regulation. Capital can evade the regulations by going offshore, but it increases the cost of local assets.

So there is no inflation to speak of yet cost increases to housing, government controlled services such as medical, and very high wages for the skilled and managerial classes. But most people don't benefit. There is little inflation and growth is stagnant.

It is a very strange situation, and very destabilizing. A zero bound is essentially nihilistic, money has no value, you can rent it for nothing. Nihilism seems to characterize the age.

Respond

Add Comment

Piano practice routines (or other things): Because practice time/energy is limited, it will yield greater improvement to practice the things that need to be practiced (are "hard" to play at temp or without mistakes, or just plain hard to play) rather than things that don't need to be practiced. I have never even heard of a competent musician or ensemble practicing entire songs, i.e., as a way to improve the performance of weak parts of a piece, or polish fundamental skills. (Rehearsals are a different matter). Don't know if this helps chess geeks, econ nerds and STEM incels, but it applies to music and sports.
I don't get the stuff about FLOW. Sounds like some New Age or Kung Fu meaningless BS ("Don't think, feel"). If it means "endeavor to reduce counter-productive over-thinking, or anxiety, etc.,", just say so.

As I often do, I will recommend a book: "Thinking in Jazz" by Paul F. Berliner (1994, Univ. of Chicago Press).

Respond

Add Comment

I'm a corporate accountant, and nobody ever asks for tips on how to do my job and solve problems. But inspired by all these other professionals posted here over time...
1) when a problem is too big to solve, break it up into many smaller problems and solve what you can. Unravel any part of the Georgian Knot you are able one at a time. Eventually it will all fall into place.
2) fill your mind with your problem, as much as you can. Even if you don't understand any of it, keep digging and see everything. Then forget about it, go do something else, get a good night's sleep. When you turn your attention to the problem again it often will seem clear what the proper approach is.
3) don't be afraid to abandon an approach which just isn't working. But also don't forget that approach, you might be able to use part of it later.
4) always check your results. Don't be so huberistic that you assume once you've gone through your process the end result must be right. Check the result for sanity, check it against prior results, check it any way you can think of. Others won't review your approach, just the results. Be prepared to defend their questions by asking them yourself first.

Hey please comment more often, not enough gifted CPAs comment here.

I took three courses with "Marty Ginsburg" and scored at the top of one of his tests (Mergers and Acquisitions was the name of the course), and he was one of the kindest people I met in those three unusual weird years that I, a 30 something veteran (with PTSD, no less - not that anyone cares) who was switching from a military to a legal career, spent at my alma mater GULC ....

and in those three courses, if I remember correctly, I heard him say really positive things about three, and only three people. One was Jack S. Levin, who won an award, after graduating law school, as the best student of accounting in Illinois in 1958.

The other two, if I remember correctly, were a Supreme Court Justice who has been appointed by a Republican president, and some guy who published the best article that anyone had published on the interesting but temporally limited Supreme Court case known as "Zarin v Commissioner" (He mentioned his wife, who despite her misallocation of praise ---- well even poor Nietzsche did not know that he was praising God by imagining the best he could a world without God, and as Bruce Charlton said, he probably, after passing away, would have accepted - due to his unpleasant (he was short and not handsome, physically, and to tell the truth, he was not all that pleasant intellectually either - I remember! I remember! poor guy, nobody wanted him to be that way, we all wanted him to be better)

Well, now that I think of it , 4 - he did not have enough good things to say about some guy named Andrews who taught tax law at some law school in Boston ----- I distinctly remember, though, that the context in which he mentioned him was a mistake Andrews made discussing a tax revenue issue from the early 1990s ----

and who among us does not, every once in a while, have to think it over when we hear that the base rate of a bond declined and those who liquidate said bond during the base rate decline can claim either
(a) the rate went up and the price went down or
(b) the price went up and the rate went down ......

I mean, those things used to be CLEAR AS DAY to me, but we are all fallible

for example, when we try to read the clouds over our home towns, in their spectacular existential belief in themselves and in the beauty they give us, or to read the meaning of those waves the ocean decides are ocean waves on late September days --- with the whitecaps and the foam and the long passage of hours until we share our evening meals with those who love us ----

if God has blessed us in this world

we are all illiterate

(Ephesians --- the praise of the glory of his grace)

Sadly, the Supreme Court Justice who will go down in history as one of the worst of all of them - poor Harry Blackmun, who would have been so much happier as a local celebrity, maybe the guy who ran the local roller skating rink, than as the guy who was SUPREMELY CLUELESS and is the lodestar of stupidity among appellate judges ----- that was one of the three people Marty Ginsburg mentioned as knowing SOMETHING (not much, but something) about the cases that he was called on to decide .....)
(he was a tax specialist back in the day in the Eighth Circuit, or the Sixth Circuit, think about it)
why do I bother?

I know how this world works, I see how people who have the opportunity to be good forsake that opportunity, and I have known all this since at least 1965 ....

why do I bother?

because

there is a certain level of sprezzatura that all of us have access to when we finally say, after years of wondering

THAT THERE IS NOTHING MORE IMPORTANT THAN BEING KIND TO OTHERS

follow the ten commandments

be good

THERE HAS NEVER BEEN A GOOD POET REMEMBER THAT
you can't say hey I am not a great poet and nobody expects me to say the right thing

SAY WHAT NEEDS TO BE SAID

Tell someone who does not know that God loves us all

THAT GOD LOVES US ALL

You have to be kind and to treat people the way God wants you to treat them

WITH RESPECT AND CHARITY AND KINDNESS

Respond

Add Comment

Respond

Add Comment

By the way I frequently get deleted here, if you thought this response had anything worth rereading in it, try and save it to your cloud or whatever

Not that I object to anyone on any website deleting any comments they want to ....
God bless them, it is their bandwidth ....
Just saying, if you thought this response had anything worth rereading in it, try and save it to your cloud or whatever

Respond

Add Comment

God bless them all, it is not as if I was worried, my great prayer and ambition in life was to be a faith healer

and God has granted all my prayers

Respond

Add Comment

Para Dios non hay sino Individuos

Respond

Add Comment

God loves us all.

Start there with any attempt you might have to be a philosopher.

Moab is my washpot.

Beulah Land.

I like snakes and I would have spoken to the serpent in a way that made the serpent understand

THAT GOD LOVES US ALL

but I was not there.

SAD!

PARA DISO NON HAY SINO INDIVIDUOS

and God loves us all.

Trust me, I have seen so much more than I ever would have imagined

and I have seen the eyes of our greatest friends at a moment when they knew God was looking at them

with that look God has, that look that PEOPLE WHO CARE ABOUT OTHER PEOPLE have when they kindly look at ALL OF US

GOD LOVES ALL OF US

Respond

Add Comment

"Para Dios, non hay sino individuos" .....

Don Colacho.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment

We went for the wedding of some friends in Chapoo Restaurant and the truth is that we loved it, they have grilled meats and fish Delicious The service of the waiters very well, they were very attentive and they left us all the time we needed after the meal. What we liked the most and they told us that they have it on the weekends is the children's entertainment with the inflatable castles so that the children are entertained while the older ones can talk calmly. We will be back.

Respond

Add Comment

#8:

Must read.

Hint: One of the authors is Stanley Fischer. Most recently the #2 man on the Federal Reserve.

Respond

Add Comment

It is an interesting read, but I wonder how their recommendation of "going direct" differs from QE? Aside from their call to link monetary and fiscal policy together. (And it's not clear to me that this was a problem for the US in 2008/9, what with TARP and QE both being used. People differed on how strong the fiscal and monetary moves should've been, but that's inevitable.)

Oops this was meant to be a reply to Jeffrey Deutsch's post.

Respond

Add Comment

Respond

Add Comment

Respond

Add Comment