Friday, February 12, 2016

Technology and the Future of Work

Discussions of technology-driven change fail to distinguish between productivity-enhancing technology and disruptive technology.

Bill Black: The AEI and Brookings Sell Marriage as the Solution for Poverty

Marriage is the new cheap fix for poverty…which means by implication that single low income women are a new category of the undeserving poor.

How Many Flints? America’s Coast-to-Coast Toxic Crisis

Flint is just the tip of the iceberg of lead poisoning in America.

2:00PM Water Cooler 2/9/2016

Today’s Water Cooler: TPP and impunity, New Hampshire votes, Clinton goes negative, JOLTS, liquidity, Hong Kong fracas, corvids and forests

Money and Banking – The Fed and Monetary Policy

A very readable, information-rich post on what the Fed does and does not do, with emphasis on the nitty-gritty of monetary policy. If you are time-pressed, read the last item in the FAQ first, which is a terse item-by-item debunking of widely made, inaccurate statements about the Fed.

Why the Market Freakout About Bank Stocks is Well Warranted

Bad loans are not the only reason to worry about banks. ZIRP and negative interest rates will bleed them to death, and Eurobanks are at real risk of bank runs.

Links 2/9/16

white-tailed-rabbit links

Tax Breaks for Big Pharma on Top of Unreasonable Price Hikes

Big Pharma’s claim that it is hard pressed to find cash for R&D spending needs to be taken with a fistful of salt.

Which Presidential Candidates are Most Friendly to the Energy Industry?

A rundown of how nice the various top presidential candidates are likely to be to Big Energy.

Chinese Communists and Wacko U.S. Right Want to Save Us from Girlie Men

Real men are evidently an endangered species,. Chinese communists and the American Enterprise Institute are in the vanguard of trying to fix that.

2:00PM Water Cooler 2/8/2016

Today’s Water Cooler: Clinton surrogate eruptions, New Hampshire primary, year of the monkey, Christie privatizes NJ water, Richard Pryor

It’s Not Just TPP. Can a President Kill NAFTA? Al Gore Thought So. Hillary Clinton Too.

Given what Hillary and Gore have said about Nafta, it’s time to ask candidates much more pointed questions about Nafta and the TPP.

Links 2/8/16


Stock Market Investors Abandon Private Equity, Expect No Profits Overall From Current Deals

Equity investors think private equity funds will show no profits on their current deals, which contrasts sharply with portfolio company valuations.

Capital Requirements: Another Odd Attempt to Declare Victory on Dodd-Frank

I suppose we’re going to have to deal with half-truths and logical stretches about Dodd-Frank right through until November, but Bernie Sanders’ focus on Wall Street has really ramped this up of late. The trajectory appears to be a show of proof of some sort, followed by a blog link from Paul Krugman, at which point the citation hardens into conventional wisdom. The version of this that began a few days ago with Wonkblog’s Matt O’Brien has a level of truth to it, of course, but I don’t think it reveals exactly what its endorsers think.