Friday, June 2, 2017
Same song as last week, but this time performed on TOTP:
1. Robert Smith was actually quite a handsome chap back in the day, before he started looking like someone's deranged obese aunt.
2. Amazing how he's not pulling the "I'm not miming, I'm too cool for that" snit that most of the late-80s bands did on TOTP. Hey, if you don't want to mime the song then get the fuck out of the top 40.
Thursday, June 1, 2017
WSJ RTE - a sign wage acceleration might be returning. By the way: does wage acceleration due to workers finding better, higher-paid jobs count as inflation? Or is it instead productivity growth? It should actually count as productivity growth, in which case monetary policy combating such wage inflation is the exact fucking reason the economy's in stagnation and we've created a permanent underclass.
FT Alphaville - Brainard turns cautious. There's no reason to raise rates at all right now, except so that in the future we can lower them.
Mark Thoma - the working class' role in Trump's election. Seems the Trump swing has nothing to do with whether you work in a manufacturing county or whether manufacturing jobs were lost in your county. It only depends on how white your county is.
Branko Milanovic - everyone's talking about the decline in western liberal capitalism. Actually, everybody isn't. It's mostly the liberal elite intellectual pseudocommies, who use "liberal" as a swear-word, and who are jealous that the right wing have taken over populism. Sorry guys, but left elitists like Henry Giroux have no fucking clue how to talk to a steelworker, I've seen his attempts and they're pathetic.
McSweeneys - instead of checking social media, I eat a bag of nails. On an experiment whereby the author eats a bag of nails instead of checking social media. Of course, you could just ignore social media from now on.
The internet's been a-buzzin' about this:
NY Times - what the heck is a 'covfefe'?
I say it can only be interpreted in light of the following:
Newsweek - nearly half of Trump's followers are fake accounts and bots.
In that case, maybe 'covfefe' is the activation code for his secret bot army.
Servin' up a hot cup of morning covfefe for you:
Calculated Risk - Case-Shiller house price index up 5.8% yoy. Economy's on autopilot. Too bad that house prices are never considered "inflation" the way workers' wages are.
Calculated Risk - personal income, spending up 0.4% mom. Too bad personal income and spending aren't the targets of monetary and fiscal restraint the way workers' wages are.
John Cochrane - what a difference an election makes. All it takes is for Trump to replace a black guy, and suddenly Republican opinion of the economy switches from 20% positive to 80% positive.I think it's all the covfefe.
Monday, May 29, 2017
Since there's pretty much no reason to look at market news right now, here's some other news:
Larry Summers - Trump's China deal is only a good deal for China. Looks like all he did was get a few things done for the corporate lobbyists. What a way to make America great again!
Polemic's Pains - doctors are now investing in bitcoin. And since doctors are about the worst investors out there, that doesn't bode well for bitcoin.
WSJ - lessons for labour in the fight for $15. Lesson #1 is that they should have been sticking up for the broader working class over the past 30 years, instead of becoming a bourgeois bunch of self-interested fucks.
John Quiggin - drug wars. Wanna save the US $300 billion a year? Easy: eliminate patents. No, seriously. US drug expenditure is $400B/y, while US drug research is only $40B.
NY Times - in fundamentalist theocracies, children are forced to marry their rapists. Like in the USA, for example. No, really. And of course the Republicans are in favour of it.
Sunday, May 28, 2017
Some Sunday news:
New Deal Demoncrat - house sales plummet zomfg! Except they aren't. Quote:
The bottom line is that the positive trend in new and existing home sales remains, failing to confirm this month's softness in permits and starts. That housing continues as a positive in the face of higher interest rates is the biggest positive surprise story of the year.So everything's okay.
New Deal Demoncrat - weekly indicators. Again, nothing really to see here.