Grasping Reality on TypePad, by Brad DeLong

Links:

• Paul Krugman: The Fed Is Going to Be Wrong When It Eventually Raises Rates
• UC Berkeley News
• Ben Wallace-Wells: The Hard Truths of Ta-Nehisi Coates
• Ben: "Both canon and civil law recognized the status of the deodand... an inanimate object involved in some serious accident, usually causing a death, and the status meant that it became forfeit to the church or state and was withdrawn from the ordinary profane world and its uses..."
• Ta-Nehisi Coates (2001): The Last Angry Man: What Happens when the Nation of Islam Turns into a Black Version of the Promise Keepers?
• Poulet au Vin Jaune et aux Morilles
• 25iq: Ben Graham’s Value Investing ≠ Fama/French’s Factor Investing
• Must-Read: Nick Rowe: "Suppose the Bank of Canada targets 2% inflation,

Tweets:

• RT @mattdpearce: An editor is basically your own private Twitter backlash, in human form. Jul 17, 2015
• .@LadyFOHF @nntaleb I’m not that easy to fool. One of them is a girl? Or at least one of them is a girl? Probability either zero, or 1/3. Jul 17, 2015
• @tobinharshaw is defending David Brooks’s trashing of Ta-Nehisi Coates really want you want to be remembered for? Jul 17, 2015
• @Noahpinion you know, I never knew the Mongols tried to invade Java. I thought they concluded jungles weren’t their thing… Jul 17, 2015
• RT @climatesociety: #ElNino forecast is off the charts! Both dynam & stats models calling for stronger event than last month #IRIforecast Jul 17, 2015
• RT @nick_bunker: Totally agree. Surprised this hasn't gotten more attention. https://t.co/utpApUQXT6 Jul 17, 2015
• RT @nick_bunker: #ff coworker edition: @jacobselisabeth @mattmarkezich @JessicaJFulton @Econ_Marshall @ben_zipperer @bridgetansel @devansar… Jul 17, 2015
• RT @pdacosta: Silicon Valley overestimates what can be done in two years, underestimates what can be done in ten-@Google's Varian Jul 17, 2015
• RT @ObsoleteDogma: Schauble gonna Schauble. Jul 11, 2015
• RT @SwiftOnSecurity: Gawking now means outing the employee of a rival organization in an extortion attempt. It used to mean staring at a c… Jul 17, 2015
• RT @ThePlumLineGS: Trump isn't a serious candidate? Okay, but 70% of Rs agree with him. Here's what that means: http://t.co/lWKlMgVl02 Jul 17, 2015
• RT @nick_bunker: @JoshZumbrun I'm just now a fan of the "who are you going to believe, my $1 billion valuation or your lying TFP data" Jul 17, 2015
• RT @nick_bunker: @MattBruenig reading is fun(damental) http://t.co/JIo12gejmX Jul 17, 2015
• RT @DavidBeckworth: @CardiffGarcia @nick_bunker Okay, I'll bite & say I've drank the 'productivity not measured properly' Kool-Aid. But hey… Jul 17, 2015
• RT @MatthewPCrowley: We take it for granted today, but a single Dorito has more extreme nacho flavor than a peasant in the 1400s would get … Jul 17, 2015
• RT @rtraister: Wait, "THE LAST YEAR has been an education" on race for Brooks but Coates "distorts history?" Got it. Got. It. Jul 17, 2015
• RT @EricBoehlert: For yrs, DC press has stoically pretended GOP hasn't taken ugly, radical turn. that's why DC press utterly clueless abt T… Jul 17, 2015
• RT @mattyglesias: Con: Didn’t finish story I wanted to finish. Pro: Did not facilitate a blackmail scheme with zero news value. Jul 17, 2015
• RT @HeerJeet: If only somebody had published a long critique outlining the problems with how Cornell West talks about other black intellect… Jul 16, 2015
• .@HeerJeet usually people read 3 reviews, name-check the index, read the back cover blurb, and then opine! This is different! Jul 16, 2015
• RT @HeerJeet: How many ways can people write about a book without reading it or engaging its contents? Thanks to TNC, we're finding out. Jul 16, 2015
• .@AlyssaRosenberg @ErikWemple Why “damn it”? NJ should have shut day claimed Obama most liberal senator. That ought to have blown reputation Jul 16, 2015

Links:

• Matt O'Brien: The euro is a disaster even for the countries that do everything right
• Must-Read: Ben Bernanke: Greece and Europe: Is Europe holding up its end of the bargain?
• Ogged: "Much as I might complain about Israel's hold on US policy (ever so slightly diminishing of late), I suppose I'm thankful that I live in a country where being against Israel means being allied with basically reasonable Muslims and lefties and not... Christ, I had no idea this was going on.... It requires some kind of engagement from the French government."
• Must-Read: Karl Whelan: Alice In Schäuble-Land: Where Rules Mean What Wolfgang Says They Mean
• Must-Read: Joe Romm: Hottest June Puts 2015 on Track for Hottest Year on Record by Far
• Must-Read: Amir Sufi: Out of Many, One? Household Debt, Redistribution and Monetary Policy during the Economic Slump
• Must-Read: Stefan Laseen et al.: Systemic Risk: A New Trade-off for Monetary Policy?
• Must-Read: Simon Wren-Lewis: The Non-Independent ECB

Tweets:

• .@tanehisicoates as you know, ranting fine. But try to keep focused on those commenting on your book who deserve your time and attention. if you will excuse me being Polonius-like, that is…Jul 16, 2015
• RT @tanehisicoates: I don't really agree with @shani_o But that's cool. Because that's who I was talking to. We been talking since Before T… Jul 16, 2015
• RT @tanehisicoates: Folks leap into the conversation and assume that's where the conversation started. Jul 16, 2015
• RT @ebruenig: Should Americans work more? Absolutely not, argues @MattBruenig: http://t.co/iI5p2tAxy7 Jul 16, 2015
• RT @LemieuxLGM: Area man thinks 1)he's smarter than T-N Coates 2)prez who vetoed Clean Water Act and appointed Rehnquist was liberal http:… Jul 16, 2015
• RT @rodrikdani: Today I feel considerably less bad that Turkey never joined the EU. Jul 16, 2015
• RT @B_Eichengreen: What China should learn from Greece's cautionary tale. http://t.co/8i3n3oXlWC New column in Caixin. Jul 16, 2015
• RT @D_Libris: "Our proposal will free the Skittersill from bad theology and worse urban planning." Elayne Kevarian, you are the best. (@m… Jul 16, 2015
• RT @starfirst: So tell me again how the Tea Party wasn't racially motivated http://t.co/1BpCjUxFgO Jul 16, 2015
• RT @GWilliamThomas: The Jacob/Mokyr line of scholarship marches on (see this EWP post for background: http://t.co/NRZhmXCA9a Jul 16, 2015
• RT @AliceDreger: It's not a bomb. That's the thing. It's a word. It can't get anyone dead, or pregnant even. It's a word. Jul 16, 2015
• .@eilatan Here’s the sentence I’m reading in @maxgladstone: “Zack hefted the clippings in his manipulator arm.” Does that help? #readingVD Jul 16, 2015
• RT @mattyglesias: This @NoahPollak piece is a great example of what I'm talking about -- coy, arch, evasive, & ultimately vacuous Jul 16, 2015
• RT @rauchway: It’s pretty good as is “If Greece still had its own currency, the case for devaluation would be…overwhelming” Jul 15, 2015
• RT @LOLGOP: It's really hard for Republicans to argue that they don't want a war because they want a war. Jul 15, 2015
• .@HeerJeet @mattyglesias debatable: willingness of leftists 2 stooge for Stalin reinforced right-wing anti-social insurance narrative too Jul 15, 2015
• RT @freddiedeboer: “@delong Is calling people mendacious wackos some form of principled engagement?” If U read Dow 36000 U would know it is Jul 15, 2015
• @geekable Are you claiming that James K. “Dow 36000” Gassman is not a mendacious wacko? Why would you make such a claim? Why would anyone? Jul 15, 2015
• RT @freddiedeboer: “@delong the things you write about David Graeber -- those are fair, illuminating”. Yes: they are fair & illuminating Jul 15, 2015
• .@freddiedeboer 1. “Atlantic is a lot of the same plus TNC plus Coates’s creepshow commenters asking him to forgive their sins” struck me as (a) wrong, (b) unfair to TNC’s commenters, (c) unfair to TNC who spent a lot of energy nurturing them, (d) unilluminating. Thus not the kind of thing that makes me more likely to think you are worth reading in the future. It’s not about “establishing literal conformity of tastes”. It’s not about “insufficiently reverential”. It’s about keeping your bullshit proportion below 50% Jul 15, 2015
• @freddiedeboer accusing someone of collecting & nurturing a group of “creepshow commenters” Ur idea of appropriate commentary? Jul 15, 2015
• @DougJBalloon ah. Perhaps the strangest thing is that I have always envied TNC for all his non-creepy commenters… Jul 15, 2015
• RT @jbarro: The I.M.F. memo is tantamount to a call for a fiscal union, saying the Euro doesn't work for Greece without it. Jul 15, 2015
• RT @davidmwessel: Larry Katz: >30% US prime-age US men are jobless or earn less than needed to keep a family of 4 out of poverty Jul 15, 2015
• RT @Weather_West: #HurricaneDolores rapidly strengthening in East Pacific; remnants may bring active weather to CA next week. #cawx Jul 15, 2015
• RT @HeerJeet: It tells you everything you need to know about the EU & the troika that the IMF is the good guy in the Greek crisis. Jul 15, 2015

Links:

• Must-Read: Peter Orszag: Wagner and Weitzman have some policy recommendations, including electricity-grid reform and higher gas taxes. But the real power of their book is its explanation of the right way to think about climate change. Do we really want to take an 11 percent gamble with the planet?
• Must-Read: Hilary W. Hoynes and Ankur J. Patel: Effective Policy for Reducing Inequality? The Earned Income Tax Credit and the Distribution of Income
• Ben Thompson: I didn’t make the connection explicitly, but yesterday’s piece on "Why Web Pages Suck" was different angle on the issues raised by "Publishers and the Smiling Curve". Another way to think about the effects of modularizing previously integrated parts of the value chain is that the curve has been inverted: publishers and other middle men used to be king of the hill; not so much anymore...
• Must-Read: Ryan Avent: The Economist explains: How inequality Affects Growth
• Michael Eric Dyson: The Ghost of Cornel West
• Mario Draghi: "It's uncontroversial [that Greek debt relief is necessary]. I don't think anyone has ever disputed that. The question is what form this takes within our framework. I think we should focus on this point in the coming weeks..."
• Elizabeth S. Bruenig: Jade Helm works so I don't have to take my passport when I go home to Dallas anymore. It will take adjusting, but omelets, eggs, etc..."

Tweets:

• @tanehisicoates: Probably should stop being coy. OK. Here is the deal. Seven years ago I came to @theatlantic. Brought with me 12 years of experience as a journalist. Was (then) the only African-American there. Had been reporting since one of my colleagues had been in grade school. Despite this experience, @freddiedeboer claimed I was not 'ready for the majors.' Fact is he has never forgiven himself for being wrong.
• @Noahpinion: @tanehisicoates @freddiedeboer Starting internecine fights with other people on the left appears to be Freddie's primary pleasure in life!
• @delong: @Noahpinion ‘negging’
• @tanehisicoates: There is your half-a-bar @freddiedeboer You've been asking for it for years. Perhaps we can speak honestly now.
• @HoldenDCat: @tanehisicoates I see he also enjoys the occasional 'Teach the controversy of Race & IQ' post, which kinda gives the game away.
• @HoldenDCat: @whtshellreads read his blog. He thinks the Murrayites are somehow 'open to persuasion.'
• @HoldenDCat: @whtshellreads calling Charles Murray what he is is hardly 'ignoring' him.
• @dylanmorgan: @tanehisicoates I know you’re not fishing for compliments, but your writing is beautiful and powerful.
• @presenttensefit: Here's the pitch from @freddiedeboer. And @tanehisicoates got all of that one! Looks like he's ready for the majors http://pic.twitter.com/nrIbC8pFo3
• @kevpeds: @tanehisicoates @freddiedeboer He doesn't think he was wrong. Or won't admit it. http://pic.twitter.com/WTmflf47uK
• @BorderlineClown: 5h5 hours ago And yet, now it is @tanehisicoates whose name rings out, not @freddiedeboer
• @_DreamWeaver: @tanehisicoates @freddiedeboer [insert airhorn effect]
• @Penman1961: @tanehisicoates @freddiedeboer I'm sorry, but who's Freddie deBoer?

Links:

• Bill Clinton: "I signed a bill that made the problem worse, and I want to admit it.... In that bill, there were longer sentences, and most of these people are in prison under state law, but the federal law set a trend. And that was overdone. We were wrong about that.... a lot of people... locked up who were minor actors for way too long..."
• Front Page: Jan. 1, 1000 -- WSJ Interactive Edition
• Corey Robin: Monday Morning at the Wagners
• Lawrence Mishel and Alyssa Davis: Top CEOs Make 300 Times More than Typical Workers: Pay Growth Surpasses Stock Gains and Wage Growth of Top 0.1 Percent | Economic Policy Institute
• Larry Mishel: Top CEO Compensation Soars, and Why We Do Not Look at “Average CEOs”
• Must-Read: Nick Bunker: Should Average Investors Be Chasing Unicorns?
• Mike Konczal: On Paleo and Faith in Government
• Guy Maddin (2003): Dracula: Pages From a Virgin's Diary
• Must-Read: Elizabeth Jacobs: The Declining Labor Force Participation Rate: Causes, Consequences, and the Path Forward
• Must-Read: Paul Waldman: The next GOP president won’t walk away from the Iran deal
• Jacques Delpla and Pierre-Olivier Gourinchas: How to Keep Greece in the Euro, and Why Europeans Should Do It
• Barry Eichengreen and Ugo Panizza: A Surplus of Ambition: Can Europe Rely on Large Primary Surpluses to Solve its Debt Problem?
• Must-ReadPaul Krugman: Faithocrats
• Reuters: European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a very dramatic maturity extension, or else make explicit annual fiscal transfers to the Greek budget or accept 'deep upfront haircuts' on their loans to Athens, the report said.... Greek debt... peak at close to 200 percent of economic output.... The latest projections 'remain subject to considerable downside risk'.... In the laconic technocratic language of IMF officialdom, the report noted that few countries had ever managed to sustain for several decades the primary budget surplus of 3.5 percent of GDP expected of Greece....)
• Must-Read: Barry Eichengreen: Saving Greece, Saving Europe
• Doug Henwood (1998): Europe's Fateful Union
• Liz Bourke: Civics Class Has Never Been Better: "Last First Snow" by Max Gladstone
• Mark Thoma: Complicated ties between inequality and growth
• Must-Read: Tim Duy: More Mediocrity
• Mariana Mazzucato: Greece and the EU: a macro and micro mess up
• Must-Read: Daniel Davies: Groptimism
• Must-Read: Paul Krugman: The Laziness Dogma
• Must-Read: Noah Smith: We're All Smart. And Dumb. Sometimes
• Must-Read: Matthew Yglesias: The Retirement Age
• Wolfgang Munchau: Greece’s brutal creditors have demolished the eurozone project: stripped of ambitions for a political and economic union, the bloc changes into a utilitarian project