Saturday, October 20, 2018

reverie

Science is built with facts as a house is with stones, but a collection of facts is no more a science than a heap of stones is a house. -Jules Henri Poincaré, mathematician, physicist, and philosopher


Grants-in-aid, where the Feds give money to be administrated by the states, raise regulations, blur taxation and responsibilities, and suppress the potentially constructive distinctions between states.
In grants-in-aid, 10,507 of the Wisconsin's 70,413 employees are actually paid for by the federal government. According to a report, “If Wisconsin, an average-sized state, is typical, there are likely half a million “state employees” throughout American who are actually paid by the federal government.”


Some articles on the demise of Sears and the advantage the choice of mail order helped blacks in the South with anonymity. Freidman wrote that free market capitalism frequently acts as a solvent for racism and discrimination:
"It is a striking historical fact that the development of capitalism has been accompanied by a major reduction in the extent to which particular religious, racial, or social groups have operated under special handicaps in respect of their economic activities; have, as the saying goes, been discriminated against." (from Capitalism and Freedom)

As a matter of sheer logic, any admissions protocol that is not race-neutral on its face engages in intentional discrimination, for it is not possible to favor some groups in the admissions process without disfavoring others. (Epstein on the Harvard race discrimination in admission suit)


What is a...Social Democracy?

From the report of The Tariff Commission, 1982: “Excessive duties are positively injurious to the interests which they are supposed to benefit. They encourage the investment of capital in manufacturing enterprises by rash and unskilled speculators, to be followed by disaster to the adventurers and their employés, and a plethora of commodities which deranges the operations of skilled and prudent enterprise.” This report was ignored by the congress that created the commission.

 
Over the last 15 years from June 30, 2003 to June 30, 2018, only one in 13 large-cap managers, only one in 21 mid-cap managers, and one in 43 small-cap managers were able to outperform their benchmark index. So it is possible for some active fund managers to “beat the market” over various time horizons, although there’s no guarantee that they will continue to do so in the future. And the percentage of active managers who do beat the market is usually pretty small – fewer than 8% in most of the cases above over the last 15 years; and they may not sustain that performance in the future. For many investors, the ability to invest in low-cost, passive, unmanaged index funds and outperform 92% of high-fee, highly paid, professional active fund managers seems like a no-brainer, especially considering it requires no research or time trying to find the active managers who beat the market in the past and might do so in the future.


There is anger after a polar bear was killed when it attacked a man. The anger is not toward the bear.


An opinion by Setyon on the bump in GDP: Foreign companies appear to be importing as many goods as they can from the U.S. before their own governments retaliate against Trump’s tariffs with duties of their own. Once those tariffs are in place, American goods won’t be in such high demand, which will hurt future GDP growth. So current good numbers might be misleading.

Sibilate: to utter or pronounce with a hissing sound. To Hiss.
Sibilate comes from Latin sībilātus, past participle of the verb sībilāre “to hiss, hiss in disapproval.” From sībilant-, the present participle stem of sībilāre, English has the noun and adjective sibilant, used in phonetics in reference to hissing sounds like s or z. Sibilate entered English in the 17th century. Not related to "Sibyl,"  a "woman supposed to possess powers of prophecy, female soothsayer," c. 1200, from Old French sibile, from Latin Sibylla, from Greek Sibylla, name for any of several prophetesses consulted by ancient Greeks and Romans, of uncertain origin. Said to be from Doric Siobolla, from Attic Theoboule "divine wish."





Considering our intense concern for women, how could their have been two sides to the Simpson trial?


In 1953 Pew Research found that 73% of Americans trusted their government to do the right thing. In 2017 that number was 18%. That said, how then do they campaign for more government say and participation in daily life?


I read an article recently by a businessman who flew into a city for a meeting and started to rent a car. He totaled the cost, $100 per day, $50 per day tax, a mysterious $125 surcharge and $40 per night parking in the hotel--and called an Uber. One wonders how the economics of car rental will survive. And what is next for car ownership?


When the president decided to give farmers a 12 billion dollar kickback for the wound he inflicted on them with his trade war, and when other injured interests joined the clamor for comparable compensations, Sen. Johnson said, “This is becoming more and more like a Soviet type of economy here: Commissars deciding who’s going to be granted waivers, commissars in the administration figuring out how they’re going to sprinkle around benefits.”



The single highest correlation with bankruptcies in the U.S. is if your next door neighbor wins the lottery. There is a danger in keeping up with the Joneses. 


Golden oldie:
https://steeleydock.blogspot.com/2012/10/obreht-and-boianjiu-trouble-in-faculty.html






New York Times headline describing Dick Leitsch's gay activist work at the time in the 1950s: “3 DEVIATES INVITE EXCLUSION BY BARS.”


In 1945, the USS Indianapolis was torpedoed by a Japanese submarine and sank within minutes in shark-infested waters. Only 317 of the 1,196 men on board survived. However, the Indianapolis had already completed its major mission: the delivery of key components of the atomic bomb that would be dropped a week later at Hiroshima to Tinian Island in the South Pacific.



There has been a lot of talk about how the wealth of the Scandinavian "Social Democracies" implies that their form of government should be emulated. However--if you do not include Iceland--only two of the richest 15 countries in the world are Scandinavian. But 6 are Islamic kingdoms. Sooo....should we tout Islamic hereditary aristocracies as the ideal governmental structure?



Italy has had 62 governments in the 73 years since the war. Has that hurt them?


Supreme Court Justice Ruth Bader Ginsburg, 85, has promised that she plans to stay in office for another 5 years. Thank heavens. There are some times in history where we must rise above quality.


The corporate tax reform that President Trump created--and , I think, deserves praise-- may contribute to higher trade deficits by making the United States a more attractive place to invest. (Money entering the country is booked as an "import.")
Better not mention it to him.


Corporate farms decline in efficiency over time. So is capitalism wrong the way Newtonian physics is wrong? Does size matter in some way?

A former personnel chief of the Federal Emergency Management Agency is being investigated for sexual misconduct, including allegations that he hired women he met at bars and on dating websites in the hopes that they would become sexual partners for male employees.
What?



Protectionism is not so much directed against foreigners as against nationals who are prevented from importing the goods and services that they want on the best terms they can find. Supporting free markets and opposing international free trade is not a coherent position.--Lemieux
And a great line from Jacoby: Trade war is an insidious term. The metaphor notwithstanding, trade isn’t war. It’s peace.


Can a war against unequal outcomes ever be won? Can that warrior ever be satisfied? Is that fight against the inevitable, or the nature of things? And, if so, how can such a person be made happy?


Clocks orbiting the earth run faster due to their speed, slower due to their gravity. Net slower. But it means that a present that we all have in common simply does not exist.






From




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