Monday, August 19, 2019

Is the So-Called “Manufacturing Renaissance” a Mirage?

38 manufacturing industries continue to decline and nine of 10 of these industries are the critical industries that are fundamental to the manufacturing process

2:00PM Water Cooler 8/19/2019

Today’s Water Cooler: Polling, Buttigieg, Harris, O’Rourke, Sanders, Warren, 2018 and 2020 post mortems, evangelicals, e-commerce, ethanol, AI in China, robot trucks, bees and regenerative farming, Arctic wildfires, California regulators, Harlan County miners, deaths of despair, selfies, birth photographers, customer service chatbots

Externalities – And Cheating – in the Financial Crisis

The magnitudes of booms and busts are amplified by two significant externalities triggered by aggregate shocks: the endogeneity of bank equity due to mark-to-market accounting and of bank liquidity due to ‘fire-sales’ of securitised assets. In addition to economic models, legal and political factors should also be considered.

Links 8/19/19

CalPERS Board Member Theresa Taylor Breached Confidentiality, Board Engaged in Apparent Criminal Violations of Open Meeting Law in Attacks on Pro-Transparency Board Membrs

CalPERS has managed to outdo itself, in a predictably bad way.

One Nation Under Stress?

Why stress is not all it is cracked up to be.

Phishing Equilibria in E-Commerce: Shopping Sites and Dark Patterns

Dark Patterns are tricks used in websites and apps that make you do things that you didn’t mean to. Shopping sites use them a lot, and the bigger the site, the more likely.

Links 8/18/19

China’s Ultimate Play For Global Oil Market Control

The main driving issue is the realization by the Saudis that, irrespective of the reassuring rhetoric of Trump and Kushner, their bitter nemesis, Qatar, is far more important to the US than the rest of the conservative Arab monarchies and sheikhdoms of the GCC.

Links 8/17/19

De-Facto Annexation of Kashmir Means India as a Secular State is Ending

Some of the implications of India’s annexation of Kashmir.

Out of the Ashes of Puerto Rico’s Economy Emerges a Promising Currency for All

A local currency in Puerto Rico gets a foothold in the US.

2:00PM Water Cooler 8/16/2019

Today’s Water Cooler: Sanders, Warren, IA voters, the campaign press, Democrat “voter protection teams,” DCCC, consumer sentiment, housing starts, trucking, Dollar General, WeWork’s horrid IPO, Uber cost-cutting, Tesla’s robot car scam, tamping down yield curve angst, lending apps, Internet of Sh*t

A New Assessment of the Role of Offshoring in the Decline in US Manufacturing Employment

Offshoring killed American manufacturing jobs.

Links 8/16/19