…compared to the six previous expansions since 1970, this recovery is unusually balanced, with all growth rates within 2.5 percent of each other.It is a healthy recovery, with export growth at the top, and housing and government spending growth at the bottom. This is a balanced expansion
..tax cuts (subtitled the fallacies of “paper investments” vs. “real investments)
Suppose company 1 gets a tax cut, but it doesn’t know what to do with the money. On top of all the extra cash the company may already have, it doesn’t have good investment projects. It sends the money to shareholders….Well, what do shareholders do with it?…
… They most likely roll the money in to other investments. Th
Oh that wacky, return trippin’, Larry Kudlow
Investment in the whole economy has nothing to do with the financial decisions of individual companies. Investment will increase if the marginal, after-tax, return to investment increases. Lowering the corporate tax rate operates on that marginal incentive to new investments. It does not operate by “giving companies cash” which they may use, individually, to buy new forklifts, or to send to investors. Thinking about the cash, and not the marginal incentive, is a central mistake.
When my sister asks me if she should buy bitcoin, I ask me if I should sell.
She just got her first ‘smart phone’ she got it on sale, its about 3/4 the size of the iPhone4, the internet is slow like a dial-up modem and the apps take so long to open that when they finally do, you forgot why you needed it. She called me last year and told me about this wonderful site that has lots of useful information, it’s called Wikipedia.
There are two reasons to value something:
I’m not gonna give a whole analysis or the forensics of how I came to my guess, because it just doesn’t matter. Either something happens or it doesn’t.
…confusion about the regulation of cryptocurrencies. Many observers seem to confuse “regulation” and “banning bitcoin,” as if regulation amounts to outlawing bitcoin.
Further confusing things is the regulation of cryptocurrency exchanges, where cryptocurrencies are bought and sold.
Algorithms are gospel because we have made computers, in all their forms, our idols. Data becomes theology. It is a worship that binds its practitioners into faith that any kind of computational social change is pre-determined and inevitable. And therefore… resistance is futile.
There must be such a thing as socialized medicine, but no-one is exactly sure what it ‘is’. We know all the things that it isn’t. Include in that long list that it is not single-payer and/or ‘Medicare for all’.
Digital Political Capitalism is the identity and aspiration of the too big too fail, platform companies….
“Less-educated workers are disproportionately likely to move up the job ladder during expansions, but they also slide down during downturns.” This is from Dwyer Gunn at the NBER Digest: Exploring the…
…unlike hateful content that has clearly recognized iconography and language, kids content can escape an easy catch.
Bitcoin consumes energy, and that comes from coal. You are not an environmentalist. You are a capitalist. Welcome to the club
BREAKING NEWS: Facebook friends aren’t experts in all things.
MORE BREAKING NEWs: Zimbabweans are not paying $5000 more per bitcoin than everyone else.
Last year, Ankit Panda at The Diplomat noted the significance of a high-level North Korea–China meeting in June 2016. Ri Su-yong, Korean Workers’ Party (KWP) Politburo member and a former foreign…
When you hire legal crooks, you get legal crimes. Moral and technological turpitude, its wolf in user privacy henhouse was Joe Sullivan, Director of Security:
…that America and other Western countries are devolving into a soft totalitarianism; a pleasure-loving and increasingly lonely populace surrenders their freedoms to radical ideologies, which maintain their hold through education and a steady stream of propaganda.
Key points The key issue is and always was the (lack of) resilience of the UK banking system. It is mathematically impossible to take a weak banking system, subject it to stress and come up with a resilient banking system. The BoE stress tests are worse than useless because they offer false risk confidence, like a cancer test that cannot detect cancer. The biggest risk…
…New York City has the power to stop Amazon and to restore middle-class equilibrium.
Political attention often focuses on how governments spend money to reduce inequality, but direct tax systems (not including sales and other indirect taxes) do more for helping the poor relative to…