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Noah Smith @Noahpinion
, 3 tweets, 1 min read Read on Twitter
Real hourly compensation vs. real after-tax corporate profits.
Here's real hourly compensation vs. real after-tax corporate profits per capita.
Here's profits divided by compensation.

You can see that the ratio of per capita profits to hourly compensation is about 70% higher in the "new normal".
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One thing I think would help reduce elite Millennial burnout/disappointment/rage is for people to stop thinking that their job should save the world.

"Save the world" and "make the world a better place" are probably just things employers tell you to get you to work for cheap.
Maybe your job will give you meaning and purpose and a sense of doing good for the world.

Or maybe it'll just make you some money so you can raise some kids, have some pet rabbits, and be active in your local community.

There's more than one way to get meaning in life.
Also, people glorify saving the world when it probably just gives you PTSD.

We like watching Star Wars and Lord of the Rings and whatever, but we wouldn't want to actually fight Darth Vader or slog through Mordor. That would cause major burnout!
Read 3 tweets
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1/Since Trump's demand for his Wall is in the headlines, I thought it would be a good time for a thread about a history book I just read:

"Dividing Lines: The Politics of Immigration Control in America", by Daniel Tichenor (2002)

amazon.com/Dividing-Lines…
2/The book starts out with a chapter or two of dense, unnecessary political science jargon, saying that - essentially - U.S. immigration policy tends to move very slowly, because powerful politicians and officials resist the tide of public opinion.
3/But most of the book is an extremely readable, eye-opening history of U.S. immigration policy, from the founding through the 1990s.

It shows how the immigration debates we're now having have been with us, in some form or another, for a very long time.
Read 27 tweets
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Thread about why very high tax rates on very rich people don't raise much revenue (or reduce inequality much, even within the top tier).

Our system has a million loopholes. Closing them is more important than raising top rates.
That's not to say there's a trade-off between raising the top rate and closing loopholes! They are complements, not substitutes.

But if you just raise the top rate without closing loopholes, you'll likely be disappointed.
The fact is, raising effective taxes on the very rich will require a comprehensive sustained push on a large number of policy fronts. There is not going to be one silver bullet.
Read 6 tweets

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Here's what my testimony focused on: $577.53 is the FY08 per capita amount we spent on the BPD when I moved here in 2008. Today it is $793. Since I moved here, the city has spent $4,662,877,385 on police. /1
We hear, often, about how we need this money, at least in part, because policing is a dangerous profession. Except in MD the 5 yr death rate for police is 10.4 p/100,000 while the maternal morbidity and mortality for Black women is 4x higher (40.5). /2
Despite the death rate and danger for Black women being so much higher, the city spends less than one-tenth as much per capita on health ($67.60) as it does on police ($793). We spend only $449.05 on schools. /3
Read 8 tweets
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Here's what Ofcom, the UK communications regulator said about the improvement of broadband coverage in Scotland since the Scottish Government took on delivery of this devolved area:
(short thread- bear with me) /1 Ofcom infrastructure report 2014:<br /> “Scotland and Wales continue to have the lowest coverage, although they have seen the largest increases since last year.”<br /> <br /> Ofcom Connected Nations report 2015:<br /> “Coverage has improved most in Scotland and Wales, as a result of investment in new and upgraded networks by industry and governments”<br /> <br /> Ofcom Connected Nations report 2016:<br /> “The greatest increase was in Scotland, with a year-o
Now – this is all great news if you live in Scotland and have access to superfast broadband but meaningless if you still do not.

Remember- Scotland is big and sparsely populated. And has loads of islands & mountains. It is clearly the hardest country in the UK to hook up. /2
So the Scottish Government last year announced the R100 programme to reach everyone. They are funding this RESERVED area to the tune of £600million. Great news you would think? /3 Scottish Government announcement of £600 million funding for R100 universal superfast broadband programme
Read 21 tweets
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#VS-Mitarbeiter erzählt im #NSUUA, dass in der Auswertung zwischen "Neonazis" und "NPD" unterschieden wurde. Wer also aus den Freien Kräften kommt und in die NPD eintritt, wird nicht mehr unter "Neonazi" geführt.
So klingt die Zahl der Neonazis gleich ein bisschen besser ☝️
Gleich wurde übrigens mit "Überläufern" von organisierter Kriminalität und Neonazis bzw NPD verfahren, obwohl VS-Mitarbeiter selbst Fall nennt, in dem jemand aus Türsteher/Rockerszene auch im NPD-Ordnungsdienst aktiv war. #nsuuath
Noch mehr Hits: Mitarbeiter war zuständig für NPD-Vorstand, also auch für Thorsten Heise, aber nicht für dessen Musikvertrieb, zb von dem Song "Dönerkiller", in dem schon vor der Selbstenttarnung des Kerntrios die Mordserie des #NSU besungen wurde. #nsuuath
Read 8 tweets
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Here’s a thread with some pre-earnings thoughts and reads prior to the $SNAP Q2 earnings today.

Biggest thing I am looking for is the Snaps Created per Day metric (will probly have to wait for the 10-Q), updates on Bitmoji, content plans, and hints on the long-term AR strategy.
(This is not all-inclusive of my Snap thoughts, a few more that paint a bigger picture can be found in my earnings threads below from the past two quarters. Happy to discuss as I realize I have extremely an contrarian view on Snap.)

The context for Snap’s Q2 earnings is very interesting with the recent 20% post-earnings drops by FB and TWTR. Two big reasons for those drops:

1) Slowing/declining usage in North America and EU
2) Anticipated drop in FBs margins as it invests in things Snap did years ago
Read 43 tweets
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Here are the 2016 #MSSP #ACO results you’ve been waiting for. Results are very different for physician-only

#Physician_Led_ACOs_Kick_Butt
Sometimes the rainbows and unicorns are right in front of you
@amitabhchandra2 @Michael_Chernew @C_Garthwaite @JMichaelMcW
…And these #ACO savings are in the context of super-low per capita Medicare national inflation of about 1% per year @porszag
Read 5 tweets
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New thread about gang-related shootings & IED use in Sweden
Oct 1: Explosions outside two different restaurants in central Malmö damage building exteriors sydsvenskan.se/2017-10-01/lar…
Oct 4: Police seize 2 assault rifles, hand grenade, a pistol & ammo in apartment raid in central Malmö, Sweden sydsvenskan.se/2017-10-04/vap…
Read 35 tweets

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