KPC pal Logan H sends this photo, and this commentary:
I thought you might get a laugh (or grimace?) out of the attached
photograph. I took it yesterday from the interstate between Fremont and
San Jose, CA (where I'm working for Cisco Systems this summer). The
building, by the way, is one of the largest I've seen in an area
where companies' campuses are about the size of Rhode Island.
Do click on the photo for an even more absurdly overstated image.
3. "Unflinching Triumph:" The National Association of Staredown Professionals. Is it a mockumentary? Why, yes, it is. Featuring my friend Robert Anthony Peters. It's disturbingly serious. (It's a full feature film, so it's long).
In an email, Amar asks: The just published piece implicitly offers another route to universal -- and explicit -- deposit guarantees. My European friends: Might a similar "ECB Direct" accounts be the answer to bank runs in Spain etc?
This morning, yields on 10 year Spanish government bonds hit 7%. That is a Euro-era record for Spain and a clear sign that the bank "bailout", which basically created billions of Euros more of senior debt to be repaid, didn't work and Spain is again on the ropes. The Spain - Germany spread is almost 550 basis points!
Either Germany and its Northern Neighbors are going to have to cough up a ton of cash (not loans) or the ECB is going to have to seriously print Euros, or the whole enterprise is doomed.
"The country is a member of the Group of 20 and boasts of the world’s 14th-largest economy, but only a quarter of its children graduate from high school. Sixth-graders in Mexico get 562 hours of “instructional learning” a year. In South Korea, it’s 1,195 hours...
Yet Mexico’s lame performance is not about money. A generous 20 percent of the country’s budget goes to education, about $30 billion a year. More than 90 percent goes to salaries — negotiated by the teachers union, which dictates policy.
“It was — and sadly still is — a very corrupt system,” said Carlos Ornelos, a specialist in education at the Autonomous Metropolitan University who was one of the first, in the 1990s, to expose the practice of teachers buying and selling their jobs.
An elementary school teaching post, a tenured position for life, still sells for as much as $20,000 in the resort city of Cancun, and a post in a rural village can be had for $2,000, Ornelas said."
You lost your job. You're not alone. 31 million Americans face the same
challenges. You want your job back. You want your life back. But you
can't do it alone. Neither can anyone else. You all need each other.
That's what UCubed is here to do: Help you and 31 million other
unemployed Americans organize, work together and get back to work. Let
UCubed help you connect. Form a cube, and multiply your political and
economic power by 6. Then by 36. Eventually, by 31 million. Take
The "Ur" instead of "Your" thing is disturbing. Unless they mean "Ur," which would actually be pretty cool: acombiningformmeaning“earliest,original,”usedinwordsdenotingtheprimalstageofahistoricalorculturalentityorphenomenon:ur-civilization;urtext.
Economists can pull down 7 figures in total compensation when you figure in consulting and speech-giving on top of the academic salary, but this is the biggest salary+"research funds" number that I'm aware of in economics.
Here is an article from the Seattle Times, on solar power. It contains several nuggets of comedy gold.
But the best, IMHO, is the following claim:
" The report's authors said the demise of companies such as Solyndra,
Evergreen Solar, SpectraWatt, Solar Millenium and Solon was a sign that
the solar industry is maturing."
Look, we have been spending hundreds of billions of $ for 30+ years. And there is no viable solar power industry. Even the buggy whip industry had a some good years, before getting all "mature" and going bankrupt.
Sachs has taken it on the chin recently with his Lancet piece being widely attacked and partially retracted. But he's not been humbled. Check out segments of this recent interview:
Q: Well, do you have evidence the approach is working?
JS: It depends what you mean by evidence. Some of my critics say we need to do these ‘randomized controlled trials’ (aka RCTs) as if what we’re doing is testing a red pill against a blue pill. What we’re doing has nothing to do with anything like that. It cannot be reduced down to such a simple and narrow test. We have been working with these communities for years to figure out how best to improve food production, get more kids in school, deliver clean drinking water, build infrastructure and encourage business development. This is not a randomized controlled trial; it’s a learning process.
Nice Bill Clinton (it depends on what you mean by "is") there Jeffrey!
Also an impressive summary of how RCTs work. They are science fiction, right out of the Matrix.