Monday, August 10, 2020
River North Looting Round 2
Could say many things about these looting experiences. But will leave it at I am very sad for my city. Will say the folks getting arrested at 7 am outside the Nordstrom's (see the photo with the escalator) still trying to loot indicates pretty severe stupidity but then of course the judgment exhibited by all concerned is lacking. Things were quiet last night (as they should be on a Sunday night especially with thunderstorms passing through), then at 1 am or so the looting caravans showed up and went straight through until 5 am. The bottom photo from our balcony was taken at 4:23 am, all those cars were looters having a final go at the retail shops in on the ground floor of our building. The photo above with the broken window is one of the stores in our building. The top photo is the coffee shop across the street as the looters did their looting. The middle photo above was also from our balcony when a police was hit with a bottle I believe. The guy with the bottle of Johnnie Black down below was really starting to run out of gas by 6 am when I took the photo. ATMs are sturdy machines, the one in the photo was from Walgreens. Final note whatever the freaking strategy is of the authorities, they need to revise it as it is not working (and I hear all kinds of rumors most of which make no sense to me hence my lack of comment on the performance of the authorities).
Friday, August 7, 2020
The Economic Data in Perspective
McBride with his usual balanced take on recent economic releases with the graphs that keep the numbers in perspective. The headline number shows job growth but the job drops in March/April were epically bad hence we are far far away from normal.
https://www.calculatedriskblog.com/2020/08/july-employment-report-18-million-jobs.html
https://www.calculatedriskblog.com/2020/08/comments-on-july-employment-report.html
And this chart for BofA/US Treasury shows how fast the ending of the federal unemployment supplements is manifesting. Given on-going weak aggregate demand related to Covid most of these folks will struggle to obtain employment. Without the supplements the unemployed spending will drop quickly creating further unemployment. This would be why amidst weak aggregate demand fiscal stimulation in the form of unemployment supplements is a very proven way to mitigate recessionary spirals.
Tuesday, August 4, 2020
So Biden Is a Marxist? Perhaps It Is the Other Guy
Monday, August 3, 2020
The Republicans Are Trapped in an Orange Box
Back in October 2016 just after the release of the "grab her by the pussy" tape, Ms. Blogger asked how could the Republican party politicians stick with a person like Trump. I responded because he has a strangle hold on the Republican base. I was right and he still does, arguably now even more so.
We have all encountered the Trumpian tribe via friends, family or social media. Deep into his one term presidency, Trump has pursued an unwavering strategy of stoking the resentment and grievance which energize this tribe. The tribe appears utterly resolute in its loyalty at this point. I see decreasing efforts on tribal or non-tribal members to engage at this point. We all appear to have settled into a mutual disdain. I have no doubt that Trump could literally do as he bragged and shoot someone and his tribe would not waver. The opinions of the non-tribal members especially someone like say me are not only not of interest but vociferously resented.
That said I mention his one-term presidency as I firmly believe (putting aside voter suppression and who knows what other chicanery may emerge around the election) that Trump is steering his party into a box with no exit door. It is no more complex than a feverish base comprising 30% of the electorate can dominate primaries and even drive our national government (whilst abetted by cynical allies) but ultimately in a remotely fair general contest 30% is not sufficient. As the following article covers, there is no room in the current iteration the Trumpian party for dissent else its adherents will tune out or turn on the less slavish Republicans leaving them in no mans land electorally.
From Rolling Stone:
"…while pockets of Republican resistance have
roasted Dear Leader, elected officials in D.C. and...the
consultant class have remained steadfast…
These swamp creatures were never the biggest Trumpers in the first
place…So why, as Trump’s numbers plummet, are these establishment RINOs
continuing...to protect someone who is politically faltering...
I reached out to…former allies and rivals who still consult for Republican candidates at the highest levels of Senate and House races... I asked them to speak candidly…How is the president’s performance impacting their candidate?...And finally, why in the hell aren’t they more pissed at this incompetent…
…their answers were one part Stockholm Syndrome, one part survival instinct. They all may not love the president, but most share his loathing for his enemies on the left, in the media, and the apostate Never Trump Republicans with a passion that engenders an alliance with the president, if not a kinship. And even among those who don’t share the tribalistic hatreds, they perceive a political reality driven by base voters and the president’s shitposting that simply does not allow for dissent…
…in 2006, Republican candidates could strategically distance
themselves from an unpopular president without facing a mutiny within the
ranks. That won’t work in 2020…“There are practical realities — we ran a bunch
of red district primaries, and it would come back that the number one issue for
80+% of Republican primary voters was loyalty to Donald Trump. I’m not
making that number up,” a respondent told me.
Several consultants pointed to the situation that Sen. John Cornyn faces in Texas to illustrate the problem. They indicated that internal polling shows Trump either tied or very slightly ahead in the Lone Star State…Cornyn’s “quietly in trouble.” But rather than addressing this by creating some strategic separation from Trump to solidify the historically conservative Dallas and Houston suburbs where Trump is bleeding out, Cornyn has become a Mr. Trump fan girl, echoing his virus denial and defending the attack on nonviolent protestors in Lafayette Square.
Why? According to one: “You have 25% of the state is
rural and Trump gets like Saddam Hussein level numbers here. 87% in 25% of the
state…
This same calculus pervades no matter the race, no matter the
district, no matter the geography: The operatives insist that the pro-Trump
zealotry the president’s supporters demand makes it far more difficult for
candidates to win over anyone else…
…The idea of separating from Trump is so verboten in GOP circles that
the best consultants won’t even talk about talking about doing
it in mixed company, for fear of being stigmatized, and thus losing potential
client work on other campaigns.
…Trump “sucks the oxygen out of the room from every other
candidate” to such a degree that you “can’t run independent of him,” as one put
it.
…’We haven’t worked for anybody who seriously thinks the guy has it all together,” said one consultant.
But what I found was that, underneath that surface level eye-rolling at Trump and hat-tipping to the record on judges, there was an emotional alliance with the president that is deeper than they might let on in mixed company. A compartmentalization of the badness of the orange man, set aside in favor of a deep and visceral hatred of the president’s enemies…”
Sunday, August 2, 2020
Plus Ca Change, Plus C'est La Meme Chose: We Complain and Worry about Our Awful Times
The Huntley Brinkley Report aired for the final fifty years ago last week. I am old but that was so long ago I cannot even remember it directly. But Huntley Brinkley back in the day were a go to for news (along with Walter Cronkite) in a time when folks actually made time in their evenings to watch a news show. And back then the news shows actually showed reporting as opposed to today's quick videos slathered in cheap talking head opinions.
What struck me watching the clip though were Huntley and Brinkley's references to the criticisms they received from viewers and the lamentations that the news emanating from the world was so awful. So awful in fact that Huntley signed off with a plea that folks exercise patience as times were bound to improve.
So 2020 has its challenges, where they ultimately rank in the big scheme remains to be determined. But fear not, folks in 1970 believed they were living through a shit show as well. Yet fifty years later here we here....
https://www.youtube.com/watch?v=uYf3eyRjfYA
As a special bonus this video also popped up of a Dick Cavett show with Huntley around the time of his retirement. Huntley commenting on his plans is interesting but see him sharing a stage with Janis Joplin and Raquel Welch makes it memorable.
https://www.youtube.com/watch?v=T9yj3E02i1s
Saturday, August 1, 2020
Every Potus Must Have Grace- Bush Had It, They All Have Until Now
Thursday, July 30, 2020
GDP Down Huge, Lets Tweet about Delaying the Election...
Professor George Lakoff has outlined for years how Trump attempts (and frequently succeeds) in manipulating public attention. I have said to friends over the past four years, Trump is many things mostly bad but one thing he is for sure is a PR guru, a carnival barker on the level of PT Barnum. One prescription Lakoff offers is to avoid repeating Trump's messages (i.e. tweets) as doing so plays into his hands for blasting out his message. So one will never find me grabbing his tweets regardless of how sulfuric they might be.
Wednesday, July 29, 2020
Plus Ca Change, Plus C'est La Meme Chose: 1964 Alabama MLK Speaks with a Stranger
1) agitation is not necessarily christian as it risks “incitement” and will do “more harm than good”;
2) that protests “may help the Communists” and finally
3) any federal government involvement could lead to a “dictatorship”
https://www.newyorker.com/magazine/1964/08/29/letter-from-jackson
Tuesday, July 28, 2020
Things Are Better than We Think
Bill Gates once said and perhaps someone else before him: "We greatly overestimate what can be accomplished in the short run, but greatly underestimate what can be accomplished in the long-run"
Are things better than we think, I certainly hope so! Because there are some folks out there on my FB feed who think the end times are imminent...
From: "Ray Kurzweil, the author, inventor, computer scientist, futurist and Google employee…
Me:
Lets just say I know some folks that could use a brain enhancement and leave it at that...
Monday, July 27, 2020
View from Abroad: the Arsonist
Or if you prefer some UK perspectives:
Americans have had the privilege always to be naval gazers. We are a large country with a huge economy so if an American so chooses one can for the most part really ignore the rest of the world (this is a condition that impacts Chinese btw as well). Internationals pay at times more attention to what we are doing than many of us pay to ourselves. This is the ultimate flattery. A flattery that is draining away.
Those of us fortunate and curious enough to have traveled and done business internationally feel the angst our friends and colleagues internationally feel as our country devolves under the current national leadership. Folks who have not had these international opportunities do not understand the reservoirs of goodwill the U.S. has built over the decades. For all of our faults, America has been a beacon. A beacon culturally, a beacon politically and despite our missteps a source of stability in maintaining order throughout the world.
An administration like Trump's abuses these relationships, squanders these reservoirs of strength and goodwill and opens the door not only to our adversaries but to those internationally for whom authoritarianism is appealing. The good news these reservoirs and the need internationally for a country like the U.S. to be strong and helpful remains huge. But the reservoirs are not limitless. We allow these reservoirs to dry up at own peril.
The challenge, of course, is our own president appears to want his fellow citizens to believe our country is on fire so that he can play the strong man and "do what it takes" to bring back his version of "law and order". He is wrong, the country is neither on fire, nor in need of his authoritarian cosplay.
Sunday, July 26, 2020
Life Amidst Covid: Umpire and Manager with Proper Distancing
Manager and umpire arguments in 2020 are just a tad different than normal.— FOX Sports Midwest (@FSMidwest) July 26, 2020
TV: FSMW
Stream: FSGO - https://t.co/einVSr6Rgw pic.twitter.com/kg7NAEo28h
Saturday, July 25, 2020
An Economics Blog Worth Following
https://www.calculatedriskblog.com/
Below are a couple of examples.
1) https://www.calculatedriskblog.com/2020/07/six-high-frequency-indicators-for_20.html
2) These next two show our jobs situation or whether how massive a heart attack our economy has absorbed. It is also useful to provide context when you hear a politician bragging about May or June job increases as that same politician was notably silent on the drop in March and April which was massively larger than the May and June increases. If one has the data, then one can be on the look out for intellectual honesty, a trait lacking amongst many but not all politicians, sales persons, and managers etc.
Friday, July 24, 2020
When Friends and Family Embrace Trumpism...What to Do?
Have been following Bryan McGrath for maybe ten years so well back into the Obama years due to my own interest in national security issues. He is a former naval officer that I believe makes a living consulting in that space. He is a conservative of the traditional Reagan type (e.g. focused on national security and economic issues as opposed to cultural and anti-immigration stuff). He is now a never-Trumper.
In his blog, while its headline purpose was criticizing yet another Trump self-serving pardon the part that caught my eye was him agonizing about his personal relationships in the age of Trump.
http://conservativewahoo.blogspot.com/2020/07/what-in-gods-name-are-they-thinking.html
"...The folks I used to huddle in the (metaphorical) foxhole with as we tried to get what I believed were principled conservatives and civilized human beings elected to the Presidency....people who turned their backs on integrity and honor in the pursuit of ephemeral political power, personal financial gain, or some combination thereof....are also uniformly silent. These are not reticent people, mind you. They are happy to speak out on what the view as Chinese perfidy, the hypocrisy of the NBA, or the Marxism of BLM (each of which by the way, they are correct about). But across the board, fear of Donald Trump and his incompressible base has rendered them limp, silent, feckless, and beside the point.
First, I wonder if they realize how much damage they are doing to their own ability to be seen as competent and reliable voices of opposition when someone of the other party occupies the White House? They have so often surrendered the high ground to the man they've tied their fortunes to, that when the time comes for arguments to be made from it, they will not know where to go to find it. This is a serious point. Joe Biden and his team are going to have to be constrained from the right...but upon what principles will or can these people stand? Putting aside the emergency money voted as part of an economic rescue this year--this crowd silently assented as Trump knee-capped Paul Ryan and other voices calling for entitlement reform. When the inevitable call for increases in entitlement spending come, upon what arguments will they draw? Where will they find credibility? On free trade, they have willingly given the issue away. How can they reclaim it, in the light of 3.5 years of sliming it? Given the level of constant flat out corruption that they have enabled, how ever will they have the moral standing to point it out in others?
As I've written here before, I've lost friendships over all of this. There are some who consider this "sad", and an overreaction. They ask "why can't we all just get along?" and "is it really worth losing friends over?" My answer remains the same--my standards for friendship are so much higher than my standards for political affinity. You cannot be my friend if you shill for this, you cannot be my friend if you enable it, you cannot be my friend if you are so inconsistent as to repudiate core beliefs in pursuit of personal gain, you cannot be my friend if you defend the corruption and dishonesty and incivility and chaos. By doing so, you by definition do not possess the basic character necessary for being my friend.
Thursday, July 23, 2020
Equivalence Arguments Are Lazy and Usually Wrong
From the article:
https://effectiviology.com/false-equivalence/
"False equivalence is a logical fallacy that occurs when someone incorrectly asserts that two or more things are equivalent, simply because they share some characteristics, despite the fact that there are also notable differences between them. For example, a false equivalence is saying that cats and dogs are the same animal, since they’re both mammals and have a tail. False equivalences...generally exaggerate similarities and ignore important differences...
The equivalence exaggerates the degree of similarity between the things being equated...The equivalence exaggerates the importance of the similarity between the things being equated...The equivalence ignores important differences between the things being equated...The equivalence ignores differences in orders of magnitude between the things being equated..."
Me:
"All politicians are shady (or corrupt or cynical or two-faced etc.)" is a very commonly referenced false equivalency.
Arguably most politicians are a bit shady or cynical but stopping there is not only lazy but generally inaccurate. Ronald Reagan did some shady stuff with Iran-Contra but it was not Watergate. Bill Clinton was fellated extramaritally (and lied about it) near the oval office but I would argue that was nowhere near as corrosive as the Russian related moves perpetrated by Trump as outlined in the Mueller report and other sources.
Many currently believe Trump is merely a partisan Potus. I would argue he is something worse, far worse. For example, many political appointees have baggage but few have as much or extreme as those Trump is trying to inject into our government (https://www.cnn.com/2020/07/22/politics/john-gibbs-opm-kfile/index.html).
The result is too often folks argue with the "yeah but" or perhaps "but waddabout" or "they all do it" whatever that might be. And that is as far as they go before feeling they have rebutted an argument and want to move on and accept the actions of their favorite politician. In the case of Trump, making appointments with personnel who lack qualifications, are more so than ever mostly not only partisan but about specific loyalty to Trump and frankly kinda or a lot kooky.
The article goes on to bring up the dreaded "false balance" starting with a great quote:
Tuesday, July 21, 2020
Some Background on this Blog
Palinism became the dominant strain in the Republican party. John McCain and his strain of social and economic conservativism balanced at times by bi-partisan relationships and compromise mostly has disappeared; replaced initially by the deeply cynical Tea Party (recall that allegedly out of control budget deficit?) and then ultimately of course by Trumpism. A strain of American populism harking back to John Birch, Barry Goldwater and George Wallace which during its emergence following the McCarthy era in the late 1950s and early 1960s was regarded by most as beyond the pale. Now it is mainstream Republican policy.
Another huge change since 2008 has been the evolution of social media away from things like blogs to new platforms. In the fall of 2008 Facebook had roughly 100 million users worldwide, today the number approaches 3 billion. Twitter was a tiny, largely unknown start up, today roughly 300 million use the service. Those are only two of the plethora of platforms that permeate our daily lives. The eruption of social media has followed (or perhaps it is vice versa) the even greater explosion in the usage of smartphones as now most can access information anywhere, anytime and document for better or worse one’s life with the push of a button.
Even in 2008 long form media (newspapers, magazines, news shows with actual reporting as opposed to talking heads spewing hot takes) dominated. The means by which those media were distributed was migrating rapidly to the internet via websites and blogs but it remained recognizable to those who grew up with Walter Cronkite and a local newspaper.
Social media is a water faucet spewing data but little insight. This does not mean it is bad but it does mean it takes considerable skill to consume it well. A well-curated twitter feed can be constructive and informative. But social media also enables that guy from high school to grab a meme or link to some shady or disreputable website and make some outlandish claim thereby providing validation to his “friends” on whatever the topic of the day is. Perhaps one of his other “friends” might try to rebut the link but the challenge is grabbing a link maybe took that first guy 30 seconds. Concocting a reputable rebuttal; since now we are all on the same level, one’s credentials become irrelevant it is all about his link versus your rebuttal; takes time, it takes analytical chops and it must be carefully constructed. Few have the time or inclination to engage in this merry go round especially since one knows that guy from high school is deeply invested in his positions because at this point he has been marinating a long time in the social media infused miasma of whatever political or conspiracy swamp (left or right) grabs him these days.
So that brings me to what I will attempt to do here. There is a small groundswell back to blogging. Why because FB and Twitter are built for short, snappy, aggressive and superficial information (or misinformation) sharing. With a blog one can avoid the superficial hot takes, avoid grabbing a link or photo and saying there! They suck! Take that you ignorant confused moron (to be clear I am saying only I will try!). I will seek something with some more depth. But I do so with great trepidation.
Social media has been very humbling. To think one’s insights are worthy of being read is inherently arrogant. I was used to being considered one of the smart folks in the room. But no longer, social media levels the playing field as some random friend of a friend has no idea who you are you are just “Trey from Chicago”. Even worse after having engaged with former classmates, colleagues and family who might have some context regarding me personally at this point they really do not consider my credentials relevant one way or the other, which obviously may speak to me not being nearly as credentialed as I think. But it also speaks to how folks these days are devolving into tribes and regardless of the “facts” or the “truth” if something does not fit their tribe’s narrative they just will not care. It speaks to how many seem to follow the Trumpian approach of doubling down on their tribal instincts, never reflect, never apologize just bull ahead. This by the way is a tried and true PR concept most famously exhibited by Roy Cohn a person Trump greatly admires. So we shall see.
A further note, this is just a hobby. The production values here are very limited. The blog detritus left over from 2008-2010 contains many broken links which will not repaired. The format is messy. Previously I had a fellow contributor, Ms. White. Her stuff was mostly better than mine. I have tried cajoling her into resuming her posting, thus far she chooses not to do so. We shall see if this modest effort results in something constructive or merely yet another contribution to the swamp.















