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Noah Smith 🐇
@Noahpinion
, 3 tweets, 2 min read Read on Twitter
People with top credit scores are still buying houses. Other people, not so much.
newyorkfed.org/medialibrary/m…
Millennial homeownership is lower than Xer and Boomer homeownership was at the same age.
urban.org/sites/default/…
Homeownership is down for young people of all racial and ethnic groups.
urban.org/sites/default/…
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Noah Smith 🐇
@Noahpinion
Today's @bopinion is about Japan.

A new imperial period, the Reiwa period, is beginning. Where is Japan headed in this new era? And where does it need to go?

bloomberg.com/opinion/articl…
First let's talk a little bit about the Heisei period - the 30-year era that will end in a couple of weeks.

The Heisei period began with a lost decade

noahpinionblog.blogspot.com/2012/01/japan-…
During the 90s, Japan's economy stagnated, but its culture and international prestige flourished.

theatlantic.com/entertainment/…
Read 23 tweets
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Noah Smith 🐇
@Noahpinion
Karl Polanyi on the signs of approaching fascism:
economicsociology.org/2017/01/22/kar…
"irrationalistic philosophies"

check

arstechnica.com/science/2019/0…
"racialist esthetics"

...maybe check?
Read 8 tweets
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Noah Smith 🐇
@Noahpinion
Internet Guy: Where was the sci-fi future I was promised?

Me: Star Trek says we have massive riots in 2024 and a nuclear holocaust in 2053.

Internet Guy: What about Back to the Future II?

Me: We have videoconferencing, the Cubs won the World Series, and Biff became president.
Internet Guy: But where's my flying car?

Me: They exist, nobody uses them.

Internet Guy: Intelligent robots?

Me: Siri, look up "intelligent robots"

Internet Guy: How about the Matrix?

Me: Well we *might* be living in it already.
Internet Guy: But I want to fly on a starship!

Me: Have you ever smelled the air on a submarine?

Internet Guy: How about personality upload?

Me: For that, you need a personality...
Read 4 tweets

Related threads

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Richard James
@RichJamesBits
I have reached a whole new level of #PISSEDOFF.

I didnt think such a #dark and #scary state, or level, could be reached. It may top 12-14-17's causation. It's. That. Bad. So, I've prepared a statement...

docs.google.com/document/d/1_J…

#PascoSheriff #HaveYouAllNoShame @CigarCityBeer
Dear @FBI,
I must implore you ask your colleauges in @FBITampa to help research this new level of #PISSEDOFFNESS. As locals, they may offer a special indepth knowledge of this new level I have reached. This is not fair & law enforcement must #investigate. No one deserves this.
This is my #apogee of #Pissedoffness.
If #motherfuckers & #tears werent a noticable level.
If #HUSH or #INTIMIDATION tactics being deployed didnt strike a chord.
If #EVIDENCE, PROOF, or 30k Bonds didnt #WOW YOU.
If posting mom with no shred of investigatable value wasnt enough...
Read 115 tweets
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Bob Shireman
@Bob_Shireman
The @WSJ today takes the position that @NYGovCuomo 80% cap on government funding of for-profit colleges would “kill” good schools. Yet the colleges cited in the editorial would easily pass, proving the point of the Cuomo’s reform: private market forces improve college quality.
The School of Visual Arts, for example, gets only about a fourth of its funding from govt aid. The remainder is from employers & students, providing some assurance that taxpayers are getting value, not the proverbial ten-dollar hammer that gets sold to taxpayers for $600.
Contrast to NY for-profit Bryant & Stratton College, where more students default on loans than get a degree: 3,306 former students from a single year whose financial health is destroyed.

B&S gets more than 90% of funds from government-backed loans and grants
Read 12 tweets
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Jackoff Josh
@JackoffJosh711
Democrats offer "free" college. Want to go to Harvard for $2000 instead? (1)
Time after time, Democrats consistently create policies that sound good but work bad. (2)
One common trope from the left is their offer, or bribe, to give "freebies" to potential voters. "Free college!" touts Democrat Governor Jay Inslee of Washington state but free is not free if from the government. (3)
Read 31 tweets
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Lynnette KhalfaniCox
@themoneycoach
.@NYTimes says the typical federal worker has missed $5,000 in pay so far due to the #TrumpShutdown. Good analysis.

But let’s discuss the long-term impact & how this disruption will hurt the personal finances of our fellow Americans for YEARS to come. /1

buff.ly/2FuiC8x
An economic shock, like the sudden loss of a paycheck, usually has very long-term negative effects. It’s not just a blip.

Even if people get their back pay, or land another job, this #TrumpShutdown will burn folks in many ways for months or years after it’s officially over. /2
A study from @pewtrusts found that when people face a major financial shock, including a significant reduction in income, by six months later, 50% of those impacted by the financial shock still hadn’t recovered. /3

buff.ly/2QUm5ym
Read 14 tweets
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Alex Krüger 🇦🇷
@Crypto_Macro
1/ Thread on the Fed's balance sheet.

The size of the Fed's balance sheet was (and would normally be) mostly determined not by the Fed itself, but by demand for the Fed's liabilities, i.e. currency and (bank) reserves. (mostly just currency)

2/ In 2008, to steer the economy away from disaster, the Fed embarked on its Quantitative Easing program (QE) of *large scale asset purchases*. Something that had never been attempted before. Other central banks soon followed suit.

en.wikipedia.org/wiki/Quantitat…
3/ QE (i.e. the Fed's asset purchases) became the main driver of the Fed's balance sheet, instead of demand for currency & reserves. Accordingly, starting 2008 the balance sheet starts ballooning because of asset purchases (5x in 10 years).
Read 12 tweets
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Paul Nightingale
@Nightingale_P
Graham Stringer MP asked me if there was any evidence that spreading research around the country might help with economic growth. Well it turns out that the Swedes have done just that. And luckily its been evaluated. This is what the evidence suggests... 1/n
Rowland Andersson and coauthors looked at the data and found a strong positive impact

Andersson, Roland, John M. Quigley, and Mats Wilhelmsson. 2009. “Urbanization, Productivity, and Innovation: Evidence from Investment in Higher Education,” J of Urban Economics, 66 (1), 2-15.
Opps you can get a pdf here cloudfront.escholarship.org/dist/prd/conte…
Read 11 tweets

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