By Lambert Strether of Corrente Readers, I had a schedule debacle and so this Water Cooler is at present shockingly truncated. I’ll update in a rolling fashion section by section. I hope there’s enough here to get you going. –lambert UPDATE All done. Politics “But what is government itself, but the greatest of all reflections […]
CalPERS yet again is trying to throw a veil over activities that ought to be visible. A CalPERS unit was asked to audit CalPERS pre-employment screening. CalPERS hired a consultant, MGR, LLC to review the hiring process after high profile fiascoes. Readers may recall that we exposed that then Chief Financial Officer Charles Asubonten, had […]
Today's Water Cooler: Polling, Buttigieg, Harris, O'Rourke, Sanders, Warren, 2018 and 2020 post mortems, evangelicals, e-commerce, ethanol, AI in China, robot trucks, bees and regenerative farming, Arctic wildfires, California regulators, Harlan County miners, deaths of despair, selfies, birth photographers, customer service chatbots
The magnitudes of booms and busts are amplified by two significant externalities triggered by aggregate shocks: the endogeneity of bank equity due to mark-to-market accounting and of bank liquidity due to 'fire-sales' of securitised assets. In addition to economic models, legal and political factors should also be considered.