June 28, 2013 10 Comments
For All The Poor Wells Fargo Tellers. I actually kinda like the fake-nice customer service thing. Better than the usual experience anyway.
QE Won’t End—It Will Increase. I’m in a weird position; didn’t want QE in the first place, and I was disgusted by how the markets became QE addicts, but now that the markets are freaking out that it’s gonna end my position is like ‘hey don’t worry everyone, QE isn’t going anywhere, so relax’. Unfortunately.
The Technical Interview Is Dead (And No One Should Mourn). (But also see Half Si^^Lion.) I guess I was an early adopter of this trend, because I’ve always generally preferred just chatting to the ‘brain-teaser’ style of interview and by the time I think to remember to try to get into the technical stuff, there’s no time left. Either that or I’m just a terrible interviewer.
Russell Brand Is A Social Genius. There’s something to that.
Arming Syrian Rebels Is Strategic Suicide. I’m not sure it’s even accurate to bring the concept of ‘strategy’ into the conversation.
Jim responds to that 13-year-old Alex Tabarrok immigration piece. You know, the one I instantaneously obtained a responsibility to respond to in normative-ethical terms a week or so ago (on the day that Bryan Caplan decided to link to it). So now I don’t have to.
Questions for Krugman and Kuehn on Keynesian multipliers, from Russ Roberts.
Matthew Yglesias has some good observations on rules and tyranny that he should like, you know, try applying more broadly sometime. You know, to topics other than condo boards:
Essentially everything is against the rules, and daily life is made tolerable only through the fact that the rules aren’t actually enforced. But then anytime someone wants to be a pain in the ass, they can demand enforcement of some random provision or other. [...] And the problem is that there’s essentially no escape. In any condo, the rules are made by the condo board and at condo meetings. And while the boards and the meetings are theoretically democratic institutions, in practice they self-select for busybodies who feel like wasting their time on condo business.
Matt Levine, national treasure, on leverage measures:
If you buy protection via a five-year credit default swap with $100mm notional that has a positive value to you of $5 million, it’s $10 (IG) or $15 million (HY) of assets.5 If you sell protection via a five-year credit default swap with $100mm notional that has a positive value to you of $5 million, it’s … I think $105 million of assets?6 In any case, the answer is never $5 million: derivatives assets are never measured at what they’re worth.
Heh. Also – in a surprising twist – there’s footnotes.