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, 5 tweets, 2 min read
It's pretty crazy to see how far past full employment we've gone. I'm sure people who've been saying that for the last few years are absolutely definitely revisiting their models and not steadfastly sticking to the view that a wage price spiral is about to breakout.
Yellen was great, but this is over a year ago
to beyond full employment and beyond
Yellen, April 2018
I don't like wage inflation targeting because I don't like a rule based or single variable framework, but being grounded in the actual wage data as opposed to relying on a failed theory that said overheating was just around the corner would've been better
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modest proposal
@modestproposal1
Watching people debate market efficiency always makes me more of a believer in market efficiency
For instance if someone is using strong form market efficiency as a straw man to attack the overall idea, you know that they aren't serious about the concept at hand
. @CliffordAsness with clearest attempt to reconcile markets being mostly efficient, with trying to beat them:

"I believe market efficiency is the proper —and safer —starting point for thinking about markets and investing; then get fancy if you must!"

grantspub.com/files/presenta…
Read 4 tweets
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modest proposal
@modestproposal1
If you haven’t read Measuring the Moat by @mjmauboussin you should read Measuring the Moat csinvesting.org/wp-content/upl…
And: “You should not view the calculation of ROIC as an academic exercise. The goal is to understand the magnitude and sustainability of ROICs in excess of the cost of capital. Companies with large excess returns generally have some competitive advantage.” research-doc.credit-suisse.com/docView?langua…
And definitely this:
“Capital allocation is a senior management team’s most fundamental responsibility. The problem is that many CEOs don’t know how to allocate capital effectively. The objective of capital allocation is to build long-term value per share”
research-doc.credit-suisse.com/docView?langua…
Read 4 tweets
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modest proposal
@modestproposal1
“Still, he’s making plans for the future and has also permitted his daughter, Michelle, to help a director produce a documentary on his life for a cable channel” 👏👏👏
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Jay Rosen
@jayrosen_nyu
Journalism academics, a little thread for you. Today I put into practice one of the very first things I learned as a graduate student in 1981 trying to master the existing literature on how professional journalists work— and how they work together to make this product... news. 1/
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Maria DahvanaHeadley
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On the one hand my life is 🤗 in tons of ways. On the other, I am a whirling swivet of screaming frustration who needs to change tons of things in order to not go bonkers. In other words: I’m a freelance writer who is both killing it and getting killed.
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Ryan Saavedra
@RealSaavedra
Here are some examples of Democrats and the media inciting people against Republicans and President Trump over the last few years.

October 2018: Nancy Pelosi endorses "collateral damage" against Americans who do not share the views of the Democratic Party
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Venture Capital
@kelly2277
💥BREAKING NEWS💥Paul Whelan was discharged from the Marines because he submitted HIMSELF for various awards -Legion of Merit, Meritorious Service Medal🎖etc via the online awards system of the Commanding General of the Third Marine Aircraft Wing.
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@ThomasHCrown
Part of my tentative re-entry to Twitter has been a more dedicated purge of my follows, because a lot of people apparently went very slightly mad in the last few years and I hadn't noticed at any conscious level.
I unfollowed probably twenty or thirty people and muted some more with a spreadsheet so I would remember to check up and see if they'd come back to themselves in a few months.
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JK
@jeszkar
So I decided to do about a longer tweet chain about the condition of our Hungarian democracy. A massive thread is incoming. #Hungary
In 2010 when Orbán and his leading party the Fidesz won the election with absolute majority (and back then fairly). Their very first act was to rewrite the constitution to fit for their desires. First of all the made several changes for the parliamentary election system.
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