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washparkhorn

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Everything posted by washparkhorn

  1. “A Travis County judge Thursday unsealed court records that revealed more anti-protester social media posts and messages that a jury did not see or hear while deciding whether to convict Daniel Perry on a murder charge in the death of Garrett Foster. The posts included messages such as "Black Lives Matter is racist to white people...It is official I am racist because I do not agree with people acting like monkeys," Perry wrote. Gov. Greg Abbott and Lt. Gov. Dan Patrick did not immediately respond to a request for comment on Thursday about Perry's comments on social media about calling himself a racist.” https://www.statesman.com/story/news/local/2023/04/13/daniel-perry-trial-social-media-racist-anti-protester-comments-gov-abbott-garrett-foster/70113166007/
  2. Methinks he doth protest too much:
  3. https://fortune.com/2023/04/05/end-of-capitalism-inflation-greedflation-societe-generale-corporate-profits/ The Fed’s solution: create unemployed Americans.
  4. He came looking for trouble. Dumb and criminally culpable behavior.
  5. Branch Stupidians—the whackos is Waco
  6. AI is the ultimate deflationary headwind. https://economics.mit.edu/sites/default/files/inline-files/Noy_Zhang_1.pdf We examine the productivity effects of a generative artificial intelligence technology—the assistive chatbot ChatGPT—in the context of mid-level professional writing tasks. In a preregistered online experiment, we assign occupation-specific, incentivized writing tasks to 444 college-educated professionals, and randomly expose half of them to ChatGPT. Our results show that ChatGPT substantially raises average productivity: time taken decreases by 0.8 SDs and output quality rises by 0.4 SDs. Inequality between workers decreases, as ChatGPT compresses the productivity distribution by benefiting low-ability workers more. ChatGPT mostly substitutes for worker effort rather than complementing worker skills, and restructures tasks towards idea-generation and editing and away from rough-drafting.
  7. First, they came for our ramen . . . and:
  8. Well thank goodness the Fox Reporter’s kid is okay.
  9. I went to Lamar and my daughter is at Denver East. Senseless.
  10. Moral Hazard part 3,237. When the Harvard boys are calling it a “financial crisis” — the bailouts are officially sanctioned.
  11. Good read on the SVB and CS failures. https://www.nakedcapitalism.com/2023/03/fed-central-banks-created-the-current-crisis-and-are-on-course-to-making-matters-worse.html The best solution according to William Dudley (GS and Fed alum): The only remedy in all the years I have read about that might have a real impact quickly creates real skin in the game. It proposed by of all people former Goldmanite, later head of the New York Fed William Dudley. Dudley recommended putting most of executive and board bonuses in a deferred account, IIRC on a rolling five-year basis. If a bank failed, was merged as part of a regulatory intervention, or wound up getting government support, the deferred bonus pool would be liquidated first, even before shareholder equity. Skin in the game would do a lot more to curb reckless behavior than complex new rules. Of course, Dudley’s proposal landed like a lead balloon.
  12. Food for kids v. Reversal of Child Labor laws A light in the darkness
  13. Killing off the local and regional banks hurts. The non-TBTF banks have a better understanding of the communities they serve. They promote local and regional economic development and job creation at a time when the US is re-shoring for more resilient supply chains—a national priority. Non-TBTF’s diversify risk and reduce concentration in the banking industry, which make the banking system more resilient and less prone to systemic risk. And we need the non-TBTF’s for price competition in our “capitalist” economy, ostensibly for lower costs and better service. Yellen and Powell - like their predecessors - protect the boys.
  14. Matt Stoller (pro-enforcement of antitrust laws) may be right: https://mattstoller.substack.com/p/fire-the-fed
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