Saturday, August 6, 2011

@16:40, 08/05/11 4

.
http://www.nytimes.com/2011/08/06/world/europe/06italy.html
Europe is fully committed to depression and an end to the Euro.
A vigorously growing economy is far more important than a balanced budget.

http://krugman.blogs.nytimes.com/2011/08/05/sp-and-the-usa/


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  • TimesPeople recommended a user:
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  • TimesPeople recommended a blog post:
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    Nurture the Difference Between New York and Silicon Valley - Room for Debate
    New York can never become Silicon Valley; and it shouldn’t.
    Been there, done that.   
    New York has used zoning to remove industry from most of the city
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    • roystanfield recommended a review:
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      In 1971, a teacher named Geoffrey Bardon, working with indigenous Australians in the remote settlement of Papunya, near the center of the continent, had an idea that you wouldn’t have expected to bear fruit beyond the region. He provided a group o...
      Don't worry about these words.  See the show.  I shall. 
      I will take you if you wish.
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    • AtiaAbawi posted to Twitter an article:
      Feb 12, 2011
      British Photographer Giles Duley Hurt in Afghanistan
      “British Photographer Giles Duley Hurt in Afghanistan - http://nyti.ms/hGMOmu” 
      Actions have costs.
      We cannot know all of them before the fact.
      I think the risks are well worth the possible rewards.
      Your risks and costs must be your decision.
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    Baratunde
    • CNNMariaW posted to Twitter an article:
      Jul 28, 2010
      Study Rethinks Importance of Kindergarten Teachers
      “Study Rethinks Importance of Kindergarten Teachers - http://nyti.ms/aqkrEU” 
      "By junior high and high school, children who had excellent early schooling do little better on tests than similar children who did not"

      Tests sample the child's mind.  Tests do not reveal the test taker's world view.  
      Early childhood education operates on the world view. 
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    Serena Ma
    • Serena Ma posted to Twitter a blog post:
      Jun 1, 2011
      Meat: Why Bother?
      “Reinspires me to stay a weekday vegetartian --> Bittman's Meat: Why Bother? - http://nyti.ms/mwfF0D” 
      "In limited quantities, meat is just fine, especially sustainably raised meat (and wild game), locally and ethically produced dairy and eggs, the remaining wild or decently cultivated fish.
      No matter where we live, if we focused on those — none of which are in abundant supply, which is exactly the point — and used them to augment the kind of diet we’re made to eat, one based on plants as a staple, with these other things as treats, we’d all be better off. We can’t afford to wait to evolve."
      I can try to live like this.  I am doing better.
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    Chrissie Brodigan
    • Chrissie Brodigan posted to Twitter an article:
      Nov 1, 2010
      Patricia Sexton and Jesse Phillips: Weddings
      “More Judd Apatow than Jane Austen :-) Patricia Sexton & Jesse Phillips - http://nyti.ms/bkQD8L” 
      I don't know about the meeting at a rugby tournament but as much of the rest of it as you want.   I will play my part and sign on the dotted line.
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    • pennyrich posted to Twitter an article:
      Jul 23, 2011
      Obama Should Raise the Debt Ceiling on His Own
      “Obama Should Raise the Debt Ceiling on His Own - http://nyti.ms/pkfgKb - OK Mr. Pres. time to stop the talking and start acting.” 
      The Republicans offered him a way to do that.  He had the sense to turn them down.  This way he gets a second term with a Democratic Congress.  I want to see him run the the country properly.  
      If I can I will vote against him in the primaries. 
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    Qaddafi had more cash than I thought he did.
    This civil war will drag on until he runs out.
    I have no real insight on the politics there.
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Friday, August 5, 2011

I neglected to push the button.
Posted by at No comments:

@21:25, 08/04/11 4

.

http://www.nytimes.com/2011/08/05/opinion/the-wrong-worries.html?hp

  • TimesPeople recommended a blog post:
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    What would it take for New York City to become home to the next Facebook or Apple?
    Cheap rent.  It will not happen with this program.
  • TimesPeople recommended a blog post:
    Aug 3, 2011
    Nurture the Difference Between New York and Silicon Valley - Room for Debate
    New York can never become Silicon Valley; and it shouldn’t.
    It has been a long time since I saw anything new.  
  • TimesPeople recommended a blog post:
    Aug 3, 2011
    Entrepreneurship Can't Be Taught - Room for Debate
    For young engineers and entrepreneurs, the only way to learn is by trying, failing, trying again until some great idea works.
     What is Caterina Fake? I see her credits and I agree that a new engineering campus is uncalled for.  The rest of her argument is specious.
    "I'm skeptical that a science and engineering campus is what New York needs to become a technology powerhouse. Boston has not succeeded with that strategy."   M.I.T. has taught original thinking for 150 years.
    Rout 128 is just the latest place the innovators found realestate.
    New York has tried to supply competent operators.  Innovation is not the professors job in general.  Those that innovate run laboratories.
  • TimesPeople recommended a blog post:
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    Silicon Valley Has a Head Start on New York - Room for Debate
    Silicon Valley is monomaniacal about technology. New York City doesn't have this attitude.
    One of my professors forty years ago explained to his class that a great engineering school requires as neighbours an industrial park and a slum.  
    Silicon valley is an industrial park but California no longer has a slum.
    New York has the slum but no longer has the industrial park. It is loosing the slum to gentrification.  Gentrification already ate the industrial park.
    On the east coast gentrification has eaten most of the industry.
  • TimesPeople recommended a blog post:
    Aug 3, 2011
    No City Has a Lock on Innovation - Room for Debate
    Until recently, 'technology' was about 'moving electrons on wires.' Now, it's is about building all kinds of applications on top of the Internet.
    Fred Wilson misunderstands technology.  It is the lack of industry that is limiting development in New York.
  • TimesPeople recommended a blog post:
    Aug 3, 2011
    Why Facebook Moved Out West - Room for Debate
    The challenge for New York is to provide a nurturing soil in which entrepreneurs will want to grow.
    Eric Reis understands much of the problem.  I think he is missing just how very risk averse New York finance is.  He knows that failure is a big part of innovation.  Failure is not an option when betting other peoples money.
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    Let us play.
    A bored cook is trouble.
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    Aug 3, 2011
    Now the Tea Party Has Romney - Room for Debate
    The Tea Party has succeeded in dragging Mitt Romney away from the political center in their direction and toward their budgetary priorities.

    Dan Schnur may not realize that there are more than one reason to vote no on this disaster of a deal.   The tar is heating and the feathers are waiting.
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    Hunh?
    What has that got to do with anything but fashion?
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    The Tea Party Is Challenging the G.O.P. - Room for Debate
    The Tea Party seems to be on a collision course with three key Republican factions, conflicts which could fracture and even cripple that party.
    How very interesting.
    If the fanatical right continues to set the agenda expect depression.
    I will wait a bit and see how far down the market crash takes us.
    I want to buy near the bottom.
    Failing banks and general panic.

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    Room for Debate
    A Running Commentary on the News
    http://www.nytimes.com/roomfordebate/2011/08/04/can-manufacturing-fuel-a-us-recovery
    Henry Ford figured this out about ninety years ago.  
    The workers must be able and willing to buy the products.
    Demand is the key.  
    Manufacturing is demand driven.
    So no, manufacturing cannot drive a recovery.
    Demand will drive the recovery when it comes.
    F.D.R. figured it out.  We must relearn that lesson.
    Bernanke was not wrong about cash from helicopters.
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    Creative moments can't be reproduced. Thus, Bloomberg's project must generate something wholly new.
    In Alice in Wonderland the caterpillar advises: "Begin at the beginning, go on until you come to the end.  Then stop."  
    Michael Bloomberg has not found a beginning.   
    He has the slum if he can get the rents stable. The dollar will fall to make them cheap.  He has the schools.  He needs the industrial park.
    Newark would do but the politics will defeat any such effort.
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    A breakout success will probably look very different from Apple and Facebook.
    Think Company Town.  Costs are very much lower elsewhere if the financing can be found.  It is a very old story.  New York can be an incubator for industry but not in competition with gentrification.
    Early hope will kill recovery.
Posted by at No comments:

Thursday, August 4, 2011

@10:45, 08/04/11 2

.



  • TimesPeople recommended a blog post:
    Aug 3, 2011
    Can New York Rival Silicon Valley for Start-Ups? - Room for Debate
    What would it take for New York City to become home to the next Facebook or Apple?
    Been there, done that.
    The financial industries and the real estate interests have decided that 
    there is no place for industry of any other kind in the city of New York. 
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    Gold is no longer a currency, but central banks and investors alike are hoarding it.
    No.
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    Aug 3, 2011
    No City Has a Lock on Innovation - Room for Debate
    Until recently, 'technology' was about 'moving electrons on wires.' Now, it's is about building all kinds of applications on top of the Internet.
    That just makes the wires remote.  A startup needs cheap rent.
    Fred Wilson points out that the technology institutes already exist or have existed in and around New York.  
    Rebuilding bubbles is nearly impossible.
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    Aug 3, 2011
    Why Facebook Moved Out West - Room for Debate
    The challenge for New York is to provide a nurturing soil in which entrepreneurs will want to grow.
    People follow money.   
    Very high rent in Palo Alto will quickly kill start-ups.  
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    Blocked roads to social mobility, a continuing economic crisis and the belief among blacks that racism remains a major problem in the U.S. are a volatile combination.
    The economic disaster is viewed here as a national security issue.
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    Got it. I can do that.
    Looks good. I will give it a miss here.
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    The Tea Party Is Challenging the G.O.P. - Room for Debate
    The Tea Party seems to be on a collision course with three key Republican factions, conflicts which could fracture and even cripple that party.
    The markets speak on this.
    http://www.calculatedriskblog.com/2011/08/dow-down-500-s-off-48.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29
    "The Dow slid 512.61 points, or 4.3%, to 11383.83, erasing all its gains for 2011.
    ...
    The Standard & Poor's 500-stock index fell 60.26 points, or 4.8%, to 1200.08, putting it in correction territory, having fallen more than 10% since May. The Nasdaq Composite slumped 136.68 points, or 5.1%, to 2556.39, also in the red for the year."  WSJ
    http://krugman.blogs.nytimes.com/2011/08/04/rates-of-wrath/
    "The US 10-year bond rate is now down to 2.5%. So much for those bond vigilantes. What this rate is saying is that markets are pricing in terrible economic performance, quite possibly a double dip. And it also says that Washington’s deficit obsession has been utterly, totally wrong-headed.    . . .    (Europe)

    So things are falling apart all over. Maybe someone should do something?"   P.K.
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      http://www.borowitzreport.com/
      http://www.borowitzreport.com/2011/08/02/biden-compares-tea-party-to-terrorists-alqaeda-demands-apology/
      http://www.borowitzreport.com/2011/08/01/debt-ceiling-is-raised-before-tea-party-understands-what-it-is/
      "But even as the final agreement was being put to bed, Senate Minority Leader Mitch McConnell (R-KY) urged his Republican colleagues not to rest on their laurels: “Now, let us begin the hard work of creating the next crisis.”"
      I can't laugh at this stuff.  It is too close to fact.
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    "The first underground line of the subway opened on October 27, 1904, almost 35 years after the opening of the first elevated line in New York City, which became the IRT Ninth Avenue Line."

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http://krugman.blogs.nytimes.com/2011/08/04/minus-512-2-4-percent/
 
Still, the markets do seem to be telling us a couple of things:
1. The world looks a lot more like the way it’s viewed by the Krugman/Thoma/DeLong axis (hey, I like it) than as viewed by, say, the WSJ editorial page.
2. Policy makers have been worrying about the wrong things, obsessing over deficits when the real problem was lack of growth.
There are intimations that this could turn out to be more than a mere market plunge; European stresses are starting to make some nasty financial ripples that suggest a possible mini-Lehman event, although I think — I hope — governments and central banks will head this off. But if you had any doubts that we were on the wrong track, this should resolve them.
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