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Posts Tagged ‘Economics’

…We have no idea – and never have had – whether the market is going to go up, down, or sideways in the near- or intermediate term future.
What we do know, however, is that occasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community.  The timing of these epidemics will be unpredictable.  And the market aberrations produced by them will be equally unpredictable, both as to duration and degree.  Therefore, we never try to anticipate the arrival or departure of either disease.  Our goal is more modest: we simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
    —    Warren Buffett
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On This Day In:
2020 BLM
2019 Courage And Patience
2018 Push The Envelope
2017 Ents
2016 Are You Sure?
2015 Distracted
2014 What It Takes
2013 We Are
2012 Utopian
2011 Seen Any Black Swans Lately?

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Human history can be viewed as a slowly dawning awareness that we are members of a larger group.  Initially our loyalties were to ourselves and our immediate family, next, to bands of wandering hunter-gatherers, then to tribes, small settlements, city-states, nations.  We have broadened the circle of those we love.  We have now organized what are modestly described as super-powers, which include groups of people from divergent ethnic and cultural backgrounds working in some sense together — surely a humanizing and character building experience.  If we are to survive, our loyalties must be broadened further, to include the whole human community, the entire planet Earth.  Many of those who run the nations will find this idea unpleasant.  They will fear the loss of power.  We will hear much about treason and disloyalty.  Rich nation-states will have to share their wealth with poor ones.  But the choice, as H. G. Wells once said in a different context, is clearly the universe or nothing.
    —    Carl Sagan
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On This Day In:
2020 Stay Gentle
2019 Immoral #45
2018 From My Soapbox
2017 The Single Most Effective Thing For Health
2016 A Trumpet Solo
2015 Potential Is A Heavy Burden
2014 Fear Not, Weep Not
2013 Half Way There
2012 Sacrificed Any Lately?
2011 The Value Of One’s Character
2010 Intervals
On Being Human
Non-predictive Emergence
Events
Bodily Functions
Standing Thoughts
Sent Home Is Better Than Fixed

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Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel.  These once unthinkable dosages will almost certainly bring on unwelcome after-effects.  Their precise nature is anyone’s guess, though one likely consequence is an onslaught of inflation.
    —    Warren Buffett
[Government handouts can get you through a non-market caused depression (like the one recently caused by COVID / relief payments), but without an employment plan which improves the general welfare (like a massive infrastructure bill), only the wealthy will benefit when inflation inevitably begins to roar.  Infrastructure will improve the national resource base (bridges, roads, levies, dams, drainage, parks, beaches, river-fronts, water and waste treatment, trains and airports, etc.), it will also provide medium and long-term employment to re-build our middle class.  The longer the delay in passing a major bill, the less time available for its impact to begin before the next election cycle and the greater the opportunity for the “do-nothing” Republicans to blame the lack of progress on Democrats who wanted more than they could deliver and then failed to deliver anything.  The danger is too little and too late.  With or without jobs, inflation is coming (IMHO).  The question is: who will gain from it and who will suffer for it?    —    KMAB]
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On This Day In:
2020 Know Love
2019 Spoiler Alert
2018 Tic-Toc
2017 Explaining Working Class Support For Donald
2016 Not In My Experience
2015 Effort
2014 Honest Wants
2013 Faith, n.
2012 Surprise Me
2011 Confused With Truth

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Probably, no nation is rich enough to pay for both war and civilization.  We must make our choice; we cannot have both.
   —   Abraham Flexner
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On This Day In:
2020 Haunting Illusions
True Color
Crackin’ The Flags
2019 Maybe A Slight Advantage
We Should Never Give Up On Our Dreams
2018 As I Recall
2017 Truly Generous
2016 Choose Your Destiny
2015 Fast And Firm
2014 Neither Head Nor Heart
2013 Lonely, Foolish, Love Songs
Batting 1.000
Coward, n.
2012 At Least A Little More Difficult
2011 Speaking Of Fear

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In our obscurity – in all this vastness – there is no hint that help will come from elsewhere to save us from ourselves.  It is up to us.
   —    Carl Sagan
[An Inauguration and rejoining the Paris Climate Accords are just a start.  —  KMAB]
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On This Day In:
2020 Hoping For #46 In January 2021
2019 Interesting, But Not Fascinating
But Try To Eat The Low-Hanging First
2018 Me, Too
2017 Apt Enough?
2016 Now Or Ever
21, Pause, Restart
2015 I Am Shocked, Sir, Shocked…
Lucy & FSND-2
2014 Less Difficult
2013 The Spirit Of Liberty
2012 The Essential Freedom Of Aloneness
2011 A Problem Of Scale
Fred Doesn’t Live Here Anymore
2010 Another Book, Another Jog…

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I just think that – when a country needs more income and we do, we’re only taking in 15 percent of GDP, I mean, that – that – when a country needs more income, they should get it from the people that have it.
   —    Warren Buffett
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On This Day In:
2020 Steppin’…
2019 Every Vote Counts
2018 Or A President
2017 Pleasures
2016 Why Not?
2015 Je Suis Charlie
2014 To The Nines
2013 Higher And Truer
2012 Life’s Last Question
2011 A Single Heartbeat
A Little Male Humor – WHY MEN SHOULDN’T RETIRE

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Aside from a moral obligation to treat workers well and pay them a living wage, there’s nothing to prevent more companies from jettisoning full-time employees and shifting to lower-paid gig workers.
They’d just be following what has been happening for decades in other fields.  Just as manufacturing shifted overseas for cheaper labor and as gig economy apps drove down wages for taxi and delivery drivers, the pandemic has hastened the gig-ification of white-collar jobs.  The gig economy might have been a crowded space before COVID-19, but the booming economy masked its workers’ struggles because many of them could find other jobs to supplement their income.  Now, that extra work has dried up, and their desperation is more evident than ever.  When gig work is the only pie that’s available to millions of people, sharing it means that some don’t even get crumbs.
   —    Alana Semuels
In her article: “As the gig economy grows, its workers’ paychecks shrink
In: Time Magazine, dtd: 1-8 June 2020
This article also appears online with a different title: “‘It’s a Race to the Bottom.’ The Coronavirus is Cutting Into Gig Worker Incomes as the Newly Jobless Flood Apps
The specific link is: https://time.com/5836868/gig-economy-coronavirus/
You may have to go through a paywall to view the online article.
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On This Day In:
2019 Or In This Case – What’s Wrong
2018 Just Passing Through
2017 True Torture
Happy Thanksgiving – 2017 !!
2016 Overtaken
2015 Alone Praying
2014 A Full Man
2013 Off Defending The Universe
Taking Precautions
2012 Never, Never, Never
2011 Testing 1, 2, 3

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“Are you a socialist?” Ted Turner asked Carl Sagan.  “I’m not sure what a socialist is,” Sagan replied.
But I believe the government has a responsibility to care for the people,” Sagan said.
“I’m talking about making people self-reliant, people able to take care of themselves,” he continued.  “There are countries which are perfectly able to do that.  The United States is an extremely rich country, it’s perfectly able to do that.  It chooses not to.  It chooses to have homeless people.”
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On This Day In:
2019 He Claims It’s Fake News And Spies
2018 Mine, Too
2017 Who’s Turn Is It Now?
2016 Before You Vote In November…
2015 Two Faithful Thoughts
2014 Love Light
Orange October (III) – Giants Advance To National League Championship Series (NLCS)
2013 Nothing Ridiculous
2012 Keeping Faith
2011 Summon Us, Don’t Criticize Us
2010 Obama’s Wars – Book Review
Game Two – Hearbreaking Loss

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In 1971 the social scientist Herbert Simon anticipated the attention economy when he wrote that in an information-rich world, the most scarce resource is the one that information itself consumes:  attention.  “A wealth of information creates a poverty of attention and a need to allocate that attention efficiently,” he wrote.  Here’s how the designers of our devices, social platforms, operating systems, and websites have decided to allocate our attention:  They have placed a bounty on it, monetizing our data and our gaze.  Advertisements and other types of persuasive communication — political ads, entertainment, social media alerts — are all gunning for that bounty.
    —    Zeynep Tufekci
From her article: “In Praise Of One-Trick Ponies
Appearing in: Wired Magazine, dtd: October 2019
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On This Day In:
2019 Boxes
2018 Hoping For Better Come November
An Honest Binge
2017 Give And Keep
2016 No Change Here
2015 Campbell’s Law
2014 Dignified Values
2013 Unappreciated Skill
2012 Living Courage
2011 What’s Happening To Us?
2010 Toothbrush, Carbon and Monoxide
Look on my works, ye mighty, and despair!

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There is nothing wrong with, and much to be gained by, using our mind analytically, but to use it almost exclusively in this way is unbalanced and has a not insignificant responsibility for the perilous state of affairs on our planet.  Though the odds against it happening seem to be mounting, perhaps a more intuitive way of thinking about he world might help us to recognize and reduce in time our overdevelopment of and overdependence on the ever-growing machinery that is supposed to make our lives easier and better.  We are swept along by technological development so that in our urban environment, many of us interact increasingly with electronic devices and less with other human beings.  In addition, our culture is gradually losing our knowledge of and our direct connection with the natural or unprocessed things of the earth.  With a more intuitive way of thinking about our lives could come the realization that our very survival may depend on the other forms of life our present political and economic systems are destroying.  At the least, a better synthesis than we have now between the analytical and the intuitive, in which the intuitive gets equal attention, seems necessary to our longer-term welfare.
    —   Herman Kauz
From his book: “Push-Hands: The Handbook For Non-Competitive Tai Chi Practice With A Partner
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On This Day In:
2019 It’s Only Funny If You’re Old Enough To Know What “Film” Was
2018 Bourne Wicked Blonde
First Things First
2017 This Explains A Lot
2016 Me Too
2015 A Proper Price
2014 Well Hard
2013 Because I Can
Eloquence, n.
2012 Why Bother?
2011 Peculiar Notions

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If you don’t figure out how to make things work from a broader societal perspective, you will pay a steep price for many years.
    —    Brad Smith
President, Microsoft Corp.
As quoted by: Romesh Ratnesar
In his article: “Trust
Appearing in Time Magazine,  dtd:  16 September 2019
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On This Day In:
2019 Eureka!
2018 Learning About My Humanity
2017 Laugh Or Shake Your Head
2016 The Expected Cure
2015 Of Two Minds
2014 Pride And Remembrance
2013 Repeating Bad Memories
2012 No Sooner
2011 Just Cheesy!
Are You Illin’?

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It’s a simple fact that technology has been weaponized by private companies against democracy.  Corporations are not people.  They don’t have souls.  They’re institutions designed to make money.  And the way the government has always dealt with them is to regulate them to the point where they cease being dangerous to the public.
    —    Barry C. Lynn
Executive Director
Open Markets Institute
As quoted by: Romesh Ratnesar
In his article: “Trust
Appearing in Time Magazine,  dtd:  16 September 2019
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On This Day In:
2019 Does Terrible But Not Important Count?
2018 Have You Stretched Today?
The Original
2017 Being Nice
2016 Zero To Some = Most
2015 Born More Obligated
2014 Rage And Fury
2013 Successful Children
2012 For God So Loved The World
2011 Go Cheeseheads!!
Structured Mentality

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The central event of the twentieth century is the overthrow of matter.  In technology, economics, and the politics of nations, wealth in the form of physical resources is steadily declining in value and significance.  The powers of mind are everywhere ascendant over the brute force of things.
   —    George Gilder
[I wish this were true, but then I remember, we still have wars.  —   KMAB]
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On This Day In:
2018 Up For Progress
Day 1.5: Done (For Now)
2017 And Second By Second
2016 Bakeries And Coffee Shops
2015 Spirit Not Form
2014 Sometimes Even Kneeling Seems Insufficient
2013 Hobgoblins
2012 Got Sleep?
2011 Not Another Barren Corner

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Technology feeds on itself.  Technology makes more technology possible.
  —  Alvin Toffler
From his book:  “Future Shock
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On This Day In:
2018 Great Views
Day 8: One At A Time
2017 Trump Supporters Will Always Find An Excuse
2016 More Posts
2015 A Last Request
2014 It Matters
2013 And You Are?
2012 Not Too Late
2011 Persistence
2009 Health Care?

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“An entire generation, which is now becoming one of the largest electorates in America, came of age and never saw American prosperity,” she says.  “I have never seen that, or experienced it, really, in my adult life.”
    —    Alexandria Ocasio-Cortez
As quoted by Charlotte Alter
In Ms. Alter’s interview / article: “The Making of AOC
Appearing in Time Magazine, dtd: 3 April 2019
[Actually, they’ve seen nothing but prosperity.  What they haven’t seen is increasing personal prosperity or any hope it (increasing personal prosperity) will happen in their lifetime.    —    KMAB]
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On This Day In:
2018 The One Thing
2017 Never Give Up
2016 Which Generation Are We?
Congratulations, Kyle!
2015 Centered
2014 Economic Trinity
2013 At Both Ends
2012 Holding Allowance
2011 The Power Of Good

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