Zuckercoin

Facebook is “hoping to succeed where Bitcoin failed” with its highly secretive cryptocurrency project, a New York Times (NYT) article published today, Feb. 28, argues.
Citing multiple anonymous sources who spoke on the condition of anonymity, the Times pieces together the alleged contours of the project, which will reportedly aim to integrate cryptocurrency payments into its messaging services.
Notably, Facebook plans to rehaul its messaging infrastructure and integrate its three wholly-owned apps — WhatsApp, Messenger and Instagram — under one canopy. As the Times notes, this would provide a future crypto token with exposure across the combined 2.7 billion who use the three services each month.
A crypto-powered payments system that would operate from within a messaging system, the Times notes, is an idea being hotly pursued by several global messaging giants, such as Korea’s Kakao, Line in Japan, and Russian-developed Telegram.
According to NYT, Facebook launched its crypto project — led by ex-PayPal president David Marcus — shortly after Telegram had sealed close to $1.7 billion in two private initial coin offering (ICO) rounds for its forthcoming token and blockchain platform Telegram Open Network (TON).
Facebook has reportedly employed over 50 engineers to develop its cryptocurrency, three unnamed sources told the NYT. A further two told the newspaper that the importance of keeping the project under wraps is such that the relevant team has been given an office with separate key-card access to keep the details private from other employees.

Yuk,yuk.  They will all want to do it.  The article implies Zuck was inspired by Telegram. Telegram is just an open source version of sand ox. I don't think this idea of new coins makes sense,though, neither for Telegam nor Facebook.  I would be more interested in Coinbase adopting a sandbox technology like Telegram, absent the coin. We need more liquidity in the sandboxes we have, more multi-paired coin pits.

The real battle now is all about prequals, regtech, and crypto badges. And make Coinbase pits available via open banking helps.  It is a murky path, somewhat, given the various methods to solve the same problem, cash in advance. I am not paying attention as much as I used to.

The DEA disagrees

America's top military commander traveled to Capitol Hill Tuesday to tell lawmakers there is no specific force coming from the south toward the Mexico–United States border that poses a significant threat to the homeland or Army personnel stationed along the border.

The DEA will say criminal drug cartels and state sponsored agents are delivering dangerous, military grade drugs across the border, and they are slipping these drugs into party pipes and party drinks poisoning the kids.

Consumers tapped out

Beer companies, like Anheuser-Busch, MillerCoors, Constellation Brands and Pabst Brewing, have recently made significant cuts to their respective workforces, in response to slowing sales.Brewbound is reporting that Heineken USA (HUSA) is the latest mass-market beer maker to announce significant layoffs.

Consumption drop when interest charges rise.  Whatever the cause effect, they go together. If the ten year pops much higher, house drops fast than otherwise, and it is dropping now.

Dim Kim Kid

A bit of the goth look, babe nonetheless. In charge of hiding the bodies, I think. AOC has a bit of the goth thing going.

The state and local deduction shrinks the federal-tax base, requiring higher marginal rates. It encourages itemizing, which amplifies the harm done by other tax expenditures.

This view says the federal tax base takes precedence.  he Federal tax system should not impose complexities, and  has first share of income taxes. Makes sense in a world of 50 little Hoover states, we are not 50 little Hoovers.

We are two states, California and New York, who are aligned on the issue and hold veto in the Swamp.  Hence, it is a two and a half way compromise, Cal and NY meet in the middle and set the rule for the Swamp. NY wants the cap raised, they like mortgage deductions and then get the tax back in income taxes. Cuomo is the senior person in the tax issue, this is not a democratic vote. Gavin will go along, Gavin's major concern is an early decision so he can finish the tax issue at home.

My solution is have Gavin call Cuomo and get the proper talking, then both state delegations make their claim in the March budget. This approach saves Swamp from the agonizing two year battle over Cal prop 13 revision.

Crooked politician in Narco California

In 2010, while serving as San Diego City Council president, Hueso ordered $11,000 in bonuses to be paid to certain city staffers.But when the Voice of San Diego submitted a request for any records pertaining to those bonuses, Hueso’s staff falsely claimed that no such records existed. This untruthful and unlawful response was only exposed because of a tip from within the agency and the persistence of Voice of San Diego reporter Liam Dillon.That same year, Hueso received the Voice of San Diego’s Whopper of the Year Award for having lobbied for a new tax hike based on the false claim that taxes had gone down in recent years.Ironically, Hueso’s history of dishonesty is a perfect demonstration of why the California Public Records Act is so important. Taxpayers cannot just blindly trust government officials to give it to them straight, especially when it comes to potential misconduct or the real reason for higher taxes.

He wants to hide his past crimes with state law.  Heuso means boneheaded crook in Sacramento.  The guy hands out government goodies then covers it up.

This is why we cannot elect a president from California, you never know the bribes they take or give, this is Narco State rules.

Dave Stockmman, member deep state, I knew it

A former United States Budget Director has said that president Donald Trump is an “unhinged madman” who is now “conducting four wars on the economy.” David Stockman, the former director of the Office of Management and Budget (OMB) under President Ronald Reagan, told Yahoo Finance’s The Ticker that there is just no way Trump will ever make America great again. 
 Stockman, who just published Peak Trump: The Undrainable Swamp And The Fantasy Of MAGA, argued that Trump is waging a trade war, a border war, a political war against the Fed, and a war on the nation’s solvency.“We have a delusional, unhinged madman in the Oval Office, and anything is possible,” David Stockman said. “He’s conducting four wars on the American economy, and it’s not going to make it great again.”

The same goofy kid in glasses testifying about the budget.  Some facts:

• 1) We are insolvent
• 2) We have foreign states executing chemical war across our border
• 3) We have a trade war because we have run out of stuff to sell the Asians.
• 4) The Fed is based on goofy, unstable theory built upon magical expectations, we wage war against goofy.

Dave should avoid becoming a Bill Maher fake.

The Associations of Charities ATM chip card

My entry card idea, incarnated as a chip card.

The person down and under gets an ID check and an Association marked ATM card, verified by the local charity.  Charities do a lot of ID verification now, we simply make their procedure universal for the ATM card. The Charity association guarantees cash on demand recovery from 1-5%. The amount of insurance is determined by local work history.  Charities manage a secure credit history for their clients. The entry card also has an S and L function, in partnership with one of the banks.

Now, any person having one of these cards will fair much better than one without it in the high risk payday loan business. The creditor transaction costs are lower because the local charity knows this person's work history, and has already priced it.

The entire card operation is funded by large wealthy donors. Helps the poor directly, it gives them a trusted ledger service at zero cost. The card is invalid when income exceeds a threshold.

Get the No Activity letter from the regulators

The association obeys one government rule, kicks folks off the card when they make too much money. In return, government enforces no card regulations. Regulations costs drop. Any employer can hire a owner of this card and pay direct to the card account, bypassing all government taxes and reporting. There is a maximum hourly wage, a cap on this regulatory release as well as a monthly and annual wage cap. Minimum wage rules may apply.

The Association card function is compatible in other forms; as a virtual card on the computing device works, or it can be embedded in a hardware wallet or a walk up teller account.

Motto, all charities agree:

No matter how poor, you can have a S/L cash card

Cart leads horse

Note that although there is no financial constraint on the ability of a sovereign nation to deficit spend, this does notmean that there are no real resource constraints on government spending; this is the real concern that should guide policy, not financial constraints. If government spending pushes the economy beyond full capacity, inflation will result. A government can create all of the currency it likes, but there are finite supplies of natural resources, labor, and other productive assets that form the backbone of an economy. Put another way, money is not scarce, but real resources can be

An AOC supporter explaining MMT and the NGD.

How do we know when resources are constrained? Price rises, as the author noted. Why did price rise? Because your currency banker maintains the closest approximation to the velocity equations. Using our abstract tree model, the currency banker keeps the tree trunk round, and pricing works throughout the branches and roots, we get the Euler Force field via queue stabilization.

The MMTNDGers plan on making the tree trunk oval, for a while, and some ice be melted in the process. They have little method to predict if the tree trunk will get round gain, the velocity equations won't work well on an oval trunk.

In short, when money works it is a lot easier to count the melted ice.

Careful with the cops in Narco State

Federal prosecutors are recommending a three-year prison sentence for an ex-Glendale police detective who took bribes from organized crime members in exchange for inside information about upcoming gang raids, according to court documents.John Saro Balian, 46, of Seal Beach, pleaded guilty last July to federal charges of bribery, obstruction of justice and lying to investigators looking into whether he had connections to the Mexican Mafia and Armenian organized crime.U.S. District Judge John F. Walter set sentencing for March 8.After a long career with the Glendale Police Department, Balian “made a conscious decision to turn to a life of crime and join forces with Armenian organized crime and the Mexican Mafia,” choosing to “subvert law enforcement, place other officers at risk, and live the life of a gang member,” prosecutors wrote in sentencing papers filed late Monday in Los Angeles federal court.Defense sentencing recommendations were not made public and Balian’s attorney, Craig Missakian, declined to comment.Along with the 36-month prison term, federal prosecutors are asking that Balian be ordered to pay a $95,000 fine.

Get used to this, we are Narco.

Like every other city in California

“In some people’s minds the city might have landed in bankruptcy if the city management and the unions hadn’t agreed on the incredibly hard step of instituting layoffs and freezes to keep the city functioning,” Robert Theller, Fresno Retirement Systems administrator, said last week.

That is how Fresno avoided bankruptcy and why California does the big swing. We are arriving at that point again, we would like Gavin and the veneuelans to arrange a small swing.

A small cul-de-sac in a larger cul-de-sac

WASHINGTON (Reuters) - The Federal Reserve will stop shrinking its $4 trillion balance sheet later this year, Fed Chairman Jerome Powell said on Wednesday, ending a process that investors say works at cross-purposes with the Fed’s current pause on interest-rate hikes.

They dropped rates, then QEed a few times, and took the short cut backward by raising and selling,  at the same time. Now they will pause and let the tide catch up.  If it works, we get the muddle through, can kick on target.

But that jump in trade imbalance seemed scary, the stocks are wavering,  government on a tax hunt and yellow vesters in the wings. Housing is trending down, autos at end of cycle, and debt payments peaking.

But it is still, 'been there done that', nothing is jumping out, like a huge jump in oil prices. The one exception is the Narco State thing and trade, if that is not straightened out we get sudden stops because of the trade costs.

Define the entry card

Entry card is a pre-qual tracker process, in the sandbox, like any other thumb printed power of attorney.

Entry card generates the entry crypto badge, valid in many sandbox pits. It can be incarnated in any generic smart card format. Entry card is targeted at a specific demographic, the poor, or young minimum wage part time ad hoc worker. Entry card trusted ledgers are the organization of charities that manage credit history and insure 10% of any cash in advance taken on the card.

Step one for any person on the bottom is go to the nearest charity and get your entry card, either in physical form or as an attachment to your existing smart card. If you are a teenager or poor, you can do ad hoc work, get paid on your card and government doesn't care, and government may even provide additional insurance. New in town, unshaven,  take the card to one of the cheap hotels. Are you illegal? I think the charities are multi-national, get a card, you deal with government, not the employer.

Entry card is a crypto badge, an accounting contract, a possible physical incarnation, a smartphone app. Anyone can take their first step into the pits with entry card.

We need a scary chart index

An index of charts which have a boundary point as low or high as 2009, the big red arrow.  I have a feeling that a lot of these charts be showing up lately, I should look at the macro surprise index.

State terror directed at America, North and Central

Bijan is a cook and dealer of sheesheh – crystal meth – which has exploded on the Iranian drug market and, for the first time, overtaken heroin to become the country's second most popular drug (opium still tops the list). Meth production in the country has been expanding at an astonishing rate. According to a 2013 study by the United Nations Office on Drugs and Crime, the Iranian government first reported manufacture of the drug just six years ago, when four production facilities were seized. By 2012, though, Iran was the world's fourth highest importer of pseudoephedrine, the main precursor chemical used in the production of crystal meth. Research carried out by the State Welfare Organisation shows that over half a million Tehranis between the ages of 15 and 45 have used it at least once.

Hezbollah with its connections to the Mexican cartels, and via Venezuela likely.  We are being targeted by a state sponsor on our Southern border, Mexico is part victim in the scheme.

Some of the political distribution will have a sign flip, like me, maybe Iran is a little too devious for my taste. This is the part I feared, though the evidence still mostly points to Chinese gangs. But we still have North Korea and Iran shipping the stuff.

The drug threat is serious enough to severely restrict the level of safe activities a typical kid can engage in. Parties are suspect, everything needs to be bottle or packaged. Strange pipes avoided, beware even the vaping. Stricter curfews, and generally unsafe conditions all the way to open drug wars in some neighborhoods. If state actors are involved, then this is a security issue and Trump be getting more (hold your nose) Nixon voters.

A preview of the Federal tax rush

Kamala Harris' California gold rush

The California senator is trying to monopolize Democratic money in the donor-rich state, fueling her campaign and cutting off rivals.

I noticed that the wealthy north east liberals also are trading mortgage deduction caps for higher progressivity on taxes,which is a California Gold Rush, and will complicate Gavin's hunt for taxes.

Not much there

Cohen, Trump's former personal lawyer turned political foe, also directly alleges that President Trump knew ahead of time that Roger Stone, the politically connected Republican operative who worked as an informal adviser to Donald Trump’s presidential campaign, coordinated with WikiLeaks to dump a tranche of Democratic emails during the 2016 election.  "I am ashamed because I know what Mr. Trump is. He is a racist. He is a conman. He is a cheat. He was a presidential candidate who knew that Roger Stone was talking with Julian Assange about a WikiLeaks drop of DNC emails," Cohen says in the prepared remarks."A lot of people have asked me about whether Mr. Trump knew about the release of the hacked Democratic National Committee emails ahead of time. The answer is yes," they continue. Cohen claims that Stone called and that Trump spoke to him on the speakerphone, in which he overheard Stone saying that WikiLeaks founder Julian Assange is planning to dump emails in a couple days that "would damage Hillary Clinton's campaign." "Mr. Trump responded by stating to the effect of 'wouldn't that be great,'" Cohen's prepared remarks say. Cohen also confronted Republican criticism about his credibility head on, stating that he plans to offer documentation to back up his claims about the president. 

 A lot of build up about an old issue.  Stoner knew about the leaks almost at the same time as everyone else. a week in advance? Maybe, if he were friends with Assange.  Where was Ruskie? Nothing new here, really. What were the dates of the call, let us pin that time down relative to when it was public knowledge.

Everyone else left

Chicago's next mayor will be a black woman

My side is more realer than your side

While some protestors outside France are using the yellow vest to make demands for and end to austerity and greater economic fairness, in some countries, far right wingers are taking up the costume.

Yives Smith has no clue.
The good guys are real, she can tell via self observation.  If she were intellectual, she would have expected this blunder to be caught.

I have a better theory, the Yellow Vesters did not vote for half that crap they pay interest on. They are tired of working their butts and then sending interest payments to German bankers.

Infrastructure spending flows down this hole

Public sector pensions will have to deal, Illinois is nearly completely at court on every path out.

Idlib

The Syrian regime has intensified its airstrikes against the northwestern Idlib province in the past ten days, said the Syrian Observatory for Human Rights Tuesday.
The “White Helmets” rescue organization that operates in opposition areas of Syria said five people were killed by shelling and airstrikes on Tuesday, including three children.
According to a senior data analyst at Hala Systems, which operates an early warning system for aerial bombardment called Sentry, 13 strikes had been observed in Idlib and northern Hama on Tuesday.
“This is the third straight day in which a significant increase in airstrikes has been observed. The pace of attacks seems high — and certainly unusual compared to the last few months,” the analyst, who declined to be identified, told Reuters.
“The bombing is focused mainly on towns along the Damascus-Aleppo international road,” said Observatory Director Rami Abdulrahman.

The strikes against the last opposition bastion has forced thousands to flee the town of Khan Sheikhoun.
“Khan Sheikhoun has turned into a ghost town,” said Abdulrahman.

Barrel bombing along the major highway.  I guess it is camel meets truck. Country bumbkin Islamonuts:

The Islamic State group may have lost all its territory in Syria but a rival jihadist group has been making gains in the last remaining opposition stronghold in the north of the country - and it has got residents nervous.
In a dramatic takeover last month, Hayat Tahrir al-Sham (HTS) swept through towns and villages in Idlib province, as well as adjoining parts of Aleppo and Hama.
The group - which was known as al-Nusra Front before it broke off formal ties with al-Qaeda three years ago - expelled some rebel factions and forced others to surrender and recognise a "civil administration" it backs.

Residents are nervous about what, exactly?  If they don't like Islamonuts then residents out to give up the religion, or become AllRightie, like the Bashar, fake Islamic. Then once the camel jockies are pushed all the way back to Mecca, you can go back to whatever abnormal religion you had before the camel jockies.

Spencer Roach's causes mass school shootings

2018 National Rifle Association - Candidate Positions on Gun Rights 93%

There you have it, the Florida Republican most responsible for the Parkland mass shootings. If his name comes up in the news, it is about his role in handing out AR15s to the metnally ill. There is lots of voter's regret about this nut.

Babe in the news

Russian babe, my musical has a role for her, mostly scantily clad, but sings well.

The two fingered serious look

The furled brow gives it away, he is saying something important.

Wrong interpretation

Why do Furman and Summers think we shouldn’t worry about the federal government deficit? Their main reason is that the interest rate the federal government pays on the debt is so low. They point out that the current real interest rate on ten-year government bonds is 0.8 percent. (The real interest rate is the stated interest rate earned on bonds minus the inflation rate.) As a result, even though the federal debt is a much larger percent of GDP than it was in recent decades, the federal government “pays around the same proportion of GDP in interest on its debt, adjusted for inflation, as it has on average since World War II.”  

The correct interpretation is that we should worry about the deficit because we can only support a ten year rate slightly above 'inflation'. (Inflation in this context is the implicit deflator). We do not have the steady tax stream, more interest cost volatility and we shut down.

Dave Henderson says, "What about the future?" The future already happened, in 2009. We have been in 'What about the present?" since then, where present is getting the interest payments made.

But we test the theory, Trump will take them up on the deal this March, and we will see if the ten year yields jumps and housing dumps. A sudden jump in the ten year yield and California does the slow swing.

My home town, in the news

Fresno?Like Harold Lloyd hanging from a building clock, this was once a city that only made news for its tenuous grip on financial solvency.No longer. Now, Fresno is the fifth-best-managed city in the nation, according to the recently released Financial State of the Cities report from Truth in Accounting. 

We have a simple union negotiating ploy: " take the cash now, our promises later are worthless".

Suppression free speech

Tommy Robinson Upstages "Radical Far Left" BBC Hit Piece; Gets Immediate Facebook Ban

The ability of Facebook to run the monopoly depends in part on its ability to manipulate content. Advertisers, especially, hate controversy.

The word gets out anyway. I have listened to Robinson, he is definitely too smart to get racist, strictly a facts person. But very funny, and he is right, something bizarre is going on in the UK.

Voters regret syndrome

This moment is reviewed in many a news paper as they receive reports of drug seizures locally, they trace back to Nancy. She has lost another portion of the Nixon vote, the hold your nose and flip the switch crowd.

This crowd hangs around, locally, at every coffee shop and store, and they have to sit in front of the local newsprint, with the other locals.  They will do the Nixon, the safe choice. They do not want the voters regret in that environment.

The Nixon choice spreads, to young poor, especially Hispanic voters,  literally frightened by the news stories.  Nancy mis-handled it, Gavin cannot deal with it, and all we have is Race Quotas from Kamala, which helps no one, especially Dems.

Keeping enough balance sheet for expected default

That soon becomes the Fed's problem, and tool.

It can arbitrarily set interest rates on loans higher, with a bond burning. But it is tortuous as it has to buy them first, the Fed might want to keep the stash it has until the decision is made. The authorization to buy and default over some very long period is powerful.

That Fed power can enforce the three way rule, 3% more progressive tax, 3% payroll tax cut, and 3% across the board cuts in spending. Those rules, upheld, keep us in slight deflation, but get the boomers off and to cemetery. If Congress breaks the rules, the Fed defaults a bit on its stash, a bond burning raises rates. Congress think twice.

It works because it is know unknown. We know the millennials cannot afford the bill, so we have potential energy, we can deflate that unknown over time, force part of it to be costed immediately. Like I say, my plan is spending power i the hands of millennials.

Due process superfluous in the 14th, says Thomas

The issue before the U.S. Supreme Court in Timbs v. Indiana, therefore, was whether or not the Excessive Fines Clause should bind the states just as it binds the federal government. Since the late 19th century, the Supreme Court has been applying—or incorporating—the various provisions contained in the Bill of Rights against the states via the 14th Amendment, which says, "No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any State deprive any person of life, liberty, or property, without due process of law." The issue in Timbs, in other words, boiled down to this: if the Free Speech Clause of the First Amendment applies against the states (it does), then the Excessive Fines Clause of the Eighth Amendment deserves the same treatment.The Supreme Court agreed with that assessment and ruled unanimously in favor of Tyson Timbs, holding that the Excessive Fines Clause does indeed apply against the states.But the Court was not unanimous in its reasoning. The majority opinion, written by Justice Ruth Bader Ginsburg and joined by Chief Justice John Roberts and Justices Stephen Breyer, Samuel Alito, Sonia Sotomayor, Elena Kagan, Neil Gorsuch, and Brett Kavanaugh, held that the Excessive Fines Clause is "incorporated by the Due Process Clause of the Fourteenth Amendment."Writing separately, Justice Clarence Thomas explained that while he agreed that the ban on excessive fines should be applied against the states, he "cannot agree," as a matter of originalism, "with the route the Court takes to reach this conclusion. Instead of reading the Fourteenth Amendment's Due Process Clause to encompass a substantive right that has nothing to do with 'process," Thomas wrote, "I would hold that the right to be free from excessive fines is one of the 'privileges or immunities of citizens of the United States' protected by the Fourteenth Amendment."

By the way, Sotomayor agreed with Thomas, or implied she did, on the firemen case of Due Process. She was Appealate then,  was over ruled

This has a long history, a legal stream of thought that the Due Process is a duplicate and unneeded addition. If neither state nor federal violates the fundamentals, then fine.

Note above, that this applies to free speech. A state law cannot prohibit an elected mayor of San Diego from exercising the right. Nor can an unelected suppress the right as part of a labor contract. Something is pointing to a battle here. If Due Process is the election, then the mayor is screwed as are a bunch of other politicians, like Gavin. But basic right over rules, then the mayor wins.

The Cal State Supremes will state that a labor review board is sufficient review for the mayor, and they over ruled. So, the state argues, Due Process is met, 14th does not apply is met.  I see a tricky legal battle looming.

Consider the IRS

They have an internal tax court.  It is convenient, but not necessary, the prohibition against unreasonable seizures is still the basic protection.  It should not matter if the IRS court were a special branch of regular federal court. But it is not Due Process, is the fundamental listing of basic rights in the 14th.

Then why was Due Process written in?

I mean, do it yourself, really. We cannot have everything tied up in Federal court and a broad requirement fits the bill.  In this case, the Due Process went through review; this was strictly argued twice in courts, and based on law.  But in fact, the process made mis-judgments, not a Due Process problem, they systematically failed to protect a right.

Muddle Ground:

I am calling Due Process an admonition that states must keep impartial judiciary, that basic rights are adjudicated properly. To take a 14th amendment case is to take both definitions at the same time, but it is the state that has first crack at the problem, and that is the originalist meaning. The IRS can run its own courts of review, at the discretion of traditional federal judiciary.

Stocking up for the winter

Seasonally adjusted

The undergrads are running the line

Ivanka challenges Ocasio-Cortez!

Nearly even, Ivanka has 3/5 odds. Us males of white privilege should watch closely, get some diversity training.

I have money on babe in the right corner. I mean, AOC has her thing, I give her that; but clearly the toss goes to this babe.

My devious plot

My economic plan is close to correct, all four parts.

Most from all sides will see that if the choice was Nixon Shock, or the new theory, they will take new theory. Traders will soon bet beyond the Trump Shock, hedge the midnight moment. At the meeting of the elders, the correct four part plan cannot be ignored, the alternative is a Nixon style. They will have limited choices.

We will get a hybrid default, lasting five to ten years, melting a little more ice than we want, but much better than a Nixon; and almost a fair deal for the kids, though they will want a five year review. We will impulse response through, but a course correction for the kicked can still be due, like a double pump. The Fed will be released, open its account system properly congested. The tree will be rounder then as opposed to now.

I have the kids transfixed, they are seeing their second 'Hamiltonian' cycle start, (all three puns intended). I am the old left with new theory.

Two queues in the curve

We have a Gaussian mass centered around the one year waiting in line for access to the ten year, which is 19 basis points up.

Here is an abstract model. There were three cubicles, the six months and shorter, the one year, and the two to five; each cubicle held one bond trader. The left and right got laid off. So when the one year trader gets a short term deal, he has to shut one computer down, walk to the left cubicle, and log in to the other terminal. He charges points for the trip.

That is what is going on. If world trade picks up a bit, the ten year will suddenly jump and the cubicle in the middle is inundated.

Adding a fourth element to my plan

After the midnight swap and default contract, as your un-elected, untrustworthy president, I would make all government agencies pay the Fed fee and open an account with the Fed, or aggregate therof to a Fed account. I would phase this in, get the big agencies thinking cash flow on a year by year basis, at least.

I would make the goal, finish the 82 yard can kick, win the game, bury the boomers, leave enough ice for millennials. Don't vote for me, do not write in 'That Better Economics Guy", and prove me right by exception, showing to the world that even some Narco State citizens get it right.

I am guilty

Cohen expected to claim lying, racism and cheating by Trump

As are most humans.  Racism, "hey I am not playing basketball against some inner city young black kid", (except I have and cheated). But don't believe me, I hail from Narco State, ask anyone, we all do this.

Fractional approximation and queuing

That is the connection between optimally congested queues and packing a bit error space. A fractional approximation needs round off space to maintain information, the golden ratio can use it most effectively, hence its appearance. That ratio appears when tanh'' is maximum, and the hyperbolic inverse is a the closest approximation to Markov triples. Hypebolics is all about summing up a collection of overlapping queues if one looks at the derivation, it is about combinatorics. The hyperbolic line is most elastic when there are the most number of available unique combinations.

So, there was missing theory, way back when I said it; there is a spectral theory a bit more expansive for fractional approximation, the best approximations have higher rank generators, smaller bit error, make minimal use of conserved bit error space.

If Trump gives up the mortgage deduction cap

Then Gavin has another 1% tax, he needs to be ready and jump on that. That is the game Cuomo plays, and hiking the cap is likely to win in the March debates. So, Gavin join forces, then both he and Cuomo recover some wealthy tax. The ten year jumps as the debt levels will jump another two trillion, housing will dump. I see this as a most likely.  But, as I oft say, this is likely also the most likely watched event.

Walmart force fields

My theory of nothing centers around the Walmart checkout stand manager, he keeps the clerk and customer queues stable by altering items per basket (Planck) and opening or closing counters (Einstein).

What happens when that person does the job to bounded error? The Walmart queues simulate a force field, and time and space work. If the queues are stable then we can calculate the door size, aisle size, counter space, and we can duplicate the store in space, and scale it somewhat.  We get Newton's grammar. We get the hologram effect, if appears that a Walmart store has a repulsive and attractive force. The checkout counters are the tree trunk, make  them pack a column and you get beautiful trees. All the indifference curves become tangent at the Walmart checkout stand. Theory of nothing, all about queues.

Efficient size of balance sheet

Balance Sheet News

Stephen Williamson covers the issue for the Fed and finds a lot of foreign deposits at the Fed. What happens to the balance sheet of a global currency? The balance sheet expands, relative to a domestic currency.

Currency banker  balance sheet covers price variation, innovative mis-pricings that yield sudden loans or deposits. That numbers 3%, or about 650 billion for our domestic economy. It will be much higher if the Fed is managing a global currency.

Reserve currency status is keeping the ten year yield suppressed as the global economy nears recession levels, Treasury becomes safe haven. If global conditions change a reserve currency means the ten year is subject to sudden change, beware the housing market.

What could change?

Islamonuts got whalloped in the middle east; Iran, Stria and Lebanon engage in a period of peaceful consolidation, staying away from Israel. China bites the bullet on a number of important reforms. Something good happens in Italy, France, or North Africa.

What is new here?

Relative to last cycle, this is a watched pot economy, the sandbox is partially active and the trades watched much more closely by automated processes everywhere. All the possible sudden stops get hedged, and we get sudden slows instead, we tend to be Euler. Global trade information is virtually cost free and instant and quite a bit more accurate. I am betting on another 60% efficiency in adjusting than the Nixon Shock, the impulse response mild.

This post says:

"...we have a whole bunch of major cycles all at key inflection points simultaneously colliding with each other, yet the consensus view seems to be that the status quo’s just gonna continue along as it has in the past. It won’t..."

Yes, but we can still keep the tree trunk round, we been here, done this.

The Nixon Shock was not the end of the world, was not a major depression. So, the bots tell us, just take a little longer, do it a little less, and adjust your government agencies to cash flow accounting. Letting major government agencies, at all levels, keep Fed accounts is a great idea here. Tell the millennials to keep as much ice frozen as possible and watch for volcanoes.

Trump goes on spending binge

The White House will submit a fiscal year 2020 budget to Congress in coming weeks which seeks to force the Democratic party’s hand on accepting spending cuts.Acting Office and Management Budget Director Russ Vought wrote in a Monday morning op-ed that the Trump administration’s forthcoming budget will adhere to existing spending caps already put into place by Congress. In order to continue making investments in defense spending, The White House will tap into Overseas Contingency Operations (OCO) funds, which are special war funds not subject to spending caps.

His problem is that he cheats, claims across the board cuts but has special exemptions for his own precious government goodie.

Won't work, he is walking himself into sequester, a good thing. Just get on with as complete cap on spending, then go look for taxes.

Wishful thinking

The nation’s governors are increasingly hopeful that a sweeping infrastructure package is possible this year after White House talks that even some of President Trump’s harshest critics called surprisingly productive.Governors who met this weekend in Washington almost universally said they were disappointed in the lack of action by a divided Congress. But they are optimistic that Congress will act to send them billions of dollars to repair roads and bridges in a matter of months.

The nation's governors are grasping at straws.

First up is the debt ceiling, and that means we will be allocating another three trillion in debt, just to keep even.  Then comes a huge two year tax battle to cover the interest charges. We haven't even gotten to infrastructure and it will be election time.

Not to mention California, the Narco State,  whom no one will be investing in.  How will you get interest payments from Gavin?

Then Warren Buffet includes another Nixon Shock

His 77 years include the Nixon Shock, and we intend on doing it again. So, no, in that context debt is not scary since we will execute a nice woven devaluation.  Warren is speaking relative to his position in a monetary cycle.  Debt is not scary just a bit sudden in the devaluation.

Housing down, not yet a killer

The Sacramento region’s economy will slow but avoid recession in 2019. Residents should expect a slowdown in labor markets, real estate, and the overall regional economy this year.The outlook for Sacramento County's real estate is troubling, as there is new data that suggests the market is currently plateauing.Sacramento County total home sales collapsed 22.5% year-over-year in December, the lowest for the month since right before the financial crisis of 2007–2008. 

That would be Zero Hedge opinion or reprint of a report. 

The issue is, will California start the big swing? Right now there is room for debt while tax decisions are made, about a year at best. But tax decisions may become a snarl at any moment, the system is mighty stretched.

Babe!

California creation. Repub, but that is minor detail I think.

Drug interdiction at the border

As the Pentagon weighs diverting billions of dollars for President Donald Trump's border wall, top defense officials toured sections of the U.S.-Mexico border Saturday to see how the military could reinforce efforts to block drug smuggling and other illegal activity.Border security is under the purview of Department of Homeland Security, but Shanahan's Defense Department is weighing how it might assist amid President Trump's national emergency to build a border wall.DHS has yet to provide the details that Shanahan says he needs before making his decision on the repurposing of military construction funds. He has said he is likely to provide the full $3.6 billion the White House is expecting, plus $2.5 billion from the drug interdiction program. Trump authorized the use of these military funds when he declared a national emergency to build a wall.

Read Newsmax: Pentagon Weighs 'Wholesale Redesign' of Border Security | Newsmax.com 

This plays well in both parties, all races, all ethnic groups. We are all reading the same news stories.  This is the Nixon vote and it belongs to Trump. If there was a better alternative yesterday, it is too late; the rate of flow suddenly increased in 2018.

 This is where Gavin blew it. He should have kept his mouth shut and let the National Guard hang around at the border. That was the low cost strategy of Jerry. If so, then his captain of the guard would be touring with the defense department, interdicting the drugs flowing to the teenage children of east coast voters.

Instead he is facing increasingly angry Hispanic voters, here and east of us. California cannot neutralize the Nixon vote, we are expanding it and Gavin cannot get on the other side of the issue, with Nancy on his back. Harris is doomed, she cannot save her position.

On that LAUSD teachers contract

There was a multi-year agreement between a union and an elected board to require support on a future tax ballot measure.  Any of you constitutional scholars pick that up?  That clause is likely upheld by the Cal Supremes, but very shaky by the US Supremes.

It is like placing a personal restriction on fundamental freedom, the way the union handled San Diego mayor. Any LA councilman who objects to the clause would be in violation, immediately, according to the clause, forcing the contract to reopen, against the city taxpayer.

It has a name: An unelected group suppressing personal free speech with a real threat of collective punishment.

No bots, this is the real deal here.

Will California do the Big Swing

A long lasting upswing in unemployment, and long recovery; which it has done three recessions prior.

This is a double step, never done that. The voters have to have the 'been there, done that', the 'de javu', thing, over a longer period. This is the fist time we will do Obamacare taxes, all on our own.

Remember the volatility caused by NCLB? That was missed by the nurses on Obamacare. Now that volatility is returning, like an echo. But we failed to connect all that with foul energy regulation.  California may be unable to get clue, gone full tilt.

So, a blip turns into a long cycle as we suddenly need tax and spending agreement out here, we get one of those sudden stops. I dunno, we are on the edge of bizarreness in Calizuela.

Narco State economy

LA manufacturing jobs down 7%.  But health care is one of the three fastest growing sectors.

Hence, Gavin needs to re-impose Obamacare taxes. For all of eternity, Obamacare will be the name of a health insurance tax. Also, hence, the rise in sales taxes to their maximum. Also, hence, the rise in teacher strikes.
Narco State economy.

Government lender of last resort

If Central Banks Are the Only Game in Town, We’ve Lost

Just since December 2018, central banks have collectively injected as much as $500 billion of liquidity to stabilize economic conditions. The U.S. Federal Reserve has put interest rate increases on hold and is contemplating a halt to its balance-sheet reduction plan. Other central banks have taken similar actions, fueling a new phase of the “everything bubble” as markets careen from December’s indiscriminate selling to January’s indiscriminate buying. The monetary onslaught appears a reaction to financial factors -- falling equity markets, rising credit spreads, increased volatility -- and a perceived weakening of economic activity, primarily in Europe and China. 
If they heeded Walter Bagehot’s oft-cited rule, central banks would act only as lenders of last resort in times of financial crisis, lending without limit to solvent firms against good collateral at high rates. Instead, they’ve become lenders of first resort, expected to step in at any sign of problems. U.S. central bankers are currently debating whether quantitative-easing programs should be used purely in emergency situations or more routinely.

Satyajit Das the author misses the central bank space of operation, though he identifies the cycle of operation. Central banks bail out their governments, they have no choice, their authority is a government grant. They bail them out when the government fails to get things done, on time. You get 'bailouts/time'.

We are not lost, we are at predictability, we have actually completed the sequence and know the next step. We are just about at 1972 and the millennials are taking charge. 

The decision, today, is how do we recover some of the melted ice the boomers left behind. I am doing my part, I am negotiating with the IRS for a few thousand in back taxes, and I have agreed to accept the Arc De Bullet monument as valid art. I am also proposing the three way plan, though I wouldn't trust myself, being as I am from a Narco State.

But, not lost, rather, planning to do a 1972 and do it 60%  better, our national goal.

Designing a Walmart store

How do we do the calculations of, square feet, size of entry and exit doors, number of checkout stands?  We do it linear, we have ratios for those computations, and for WalMart type of stores, Newton's grammar even works after a fashion.

But, there is one active ingredient that is always assumed, the Walmart checkout manager will be making a round tree trunk, so the flow equations are valid. He is there making the clerk and customer queues stable, and they simulate the Walmart force fields that make the planned layout work.  That is the theory of nothing, it says that if the tree trunk is round then the root and branch graphs, together, make a sphere; the trunk  be sphere packer.

It is like having a little Einstein everywhere to add or subtract counter space, adding equation terms (open counter) often so time and space don't get sparse and divide by zero.

As one Venezuelan speaking to another Venezuelan

There is no excuse for this,” Harris wrote on Twitter. “The Venezuelan military and security forces must demonstrate restraint. Venezuelans deserve a free and fair election and a peaceful transition of power.”

No, we certainly don't want venezuelans appointing affirmative action Senators.

Young new Deal Activists are easy to convince

The Hard Lessons of Dianne Feinstein’s Encounter with the Young Green New Deal Activists

Just take AOC's crew. 

Explain to them that the, and their children, will pay an infinite tax, forever, to support the supposed Green Rail transit in San Jose, one of the most energy efficient transport systems in the world.  That system melts ice, melted ice today, melted ice tomorrow, will always melt ice and is a New Deal Green Magic thing.

Make then decide, on the spot, does the New Green Deal mean government transit should increase CO2 pollution forever?

central banks bought bonds

University of Chicago blames step two, low rates. But step one was buying debt from a single sector, government. Treasury and the debt cartel engineered the low rates, that was part of the tax and sequester agreement.  The tax payer cannot afford a ten year rate near 3%, and can barely afford the rate we pay now. That is the problem, no discretionary surplus in Congress makes federal debt shaky.

The paper,“Low interest rates, market power and productivity growth” by Ernest Liu, Atif Mian and Amir Sufi, examines the behavior of firms in a competitive marketplace as interests decline, and demonstrates that, although lower interest rates at first increase competitiveness through increased investment, they also increase the comparative advantage of large firms, thus after a time discouraging the smaller firms from investing and making the market less competitive. If low interest rates persist and approach zero, eventually even the larger firms stop investing, because they are no longer subject to significant competition and thus do not need to invest.The paper provides theoretical backing to and a possible mechanism for the observation set out in this column on several occasions in the last few years: that ultra-low interest rates in Japan, the Eurozone, Britain and the United States were closely correlated with unprecedented declines in the rate of productivity growth in those countries. In all the high-income industrial countries where interest rates were held artificially low after 2008, productivity growth by 2016 had effectively disappeared altogether, or close to it. The worst effects were seen in the eurozone and in Britain, where inflation continued, making real interest rates sharply negative. Even in Japan, where interest rates have been held artificially low for two decades, the productivity dearth worsened substantially after 2009.

Forgot about this

The Cal Supremes issued a ruling last year that impacts every employer in the private sector, a new set of regulations and risk. There will be no offsetting deregulation by the venezuelans, you can count on that. This is a significant tipping point, a sub set of employers that are impacted the most will tend to shut or move. Yet it has no upside except more taxes. Add another half point to the cost of doing business in California.

Chief Justice Tani Cantil-Sakauye noted in the opinion “When a worker has not independently decided to engage in an independently established business but instead is simply designated an independent contractor … there is a substantial risk that the hiring business is attempting to evade the demands of an applicable wage order through misclassification.”
The Dynamex decision provides California enforcement agencies such as the Employment Development Department (EDD), the Franchise Tax Board (FTB) and even the Internal Revenue Service (IRS) with the opportunity to challenge the classification of any independent contractor working in California or for a California business or entity providing their work.
Misclassification of an “employee” as an independent contractor exposes a business to substantial financial and business consequences. Tax agencies such as the IRS and FTB simply have to use internal data mining to identify and target businesses who provided 1099’s to independent contractors for an audit. The EDD regularly reviews or audits every California employer searching for misclassification. 

If we had the government wedges hitting business in the coming cycle here in California, the total comes to close to 8%, with the pension and medical cost feed back. This tax demand is starting now and lasting for two years until fully expensed. During that time expect more strikes and stoppages.

We do not have the legislative expertise to navigate and engage in fair negotiations. Remember, we are still suffering NCLB volatility, a total legislative failure out here, and Gavincare looms, another likely legislative failure. We are still suing over tax claw backs from legislation ten years ago on train. This legislature and Gavin will lose the trail, Gavin goes dating and the legislature in confusion.

Forgot about this

Treasury traders are bracing for their own outbreak of March madness, with a plethora of risks on the radar, including the coming reinstatement of the U.S. debt ceiling. 
 March 1 marks the final day of the borrowing cap’s suspension, and the limit’s return will start the countdown until America runs out of so-called extraordinary measures to keep the government funded. Friday is also the official deadline for an increase in U.S. tariffs on goods from China, although progress in negotiations indicates that could well be delayed.

If they reset the debt ceiling higher, then Treasury increases length of term structure, the ten year pops up. 

The cause here is that Congress doesn't like the political exposure, and likely wants a higher debt ceiling so the interest cost trajectory is predictable. Short term budget management is impossible in Congress because of the 'precious government goodie' problem, that is why we pay the ten year rate.

This negotiation is where Congress needs a long term deal, a contracted tax and sequester. If the get this now then they pre-empt a long two year tax battle. Good luck.

Crooked prosecutor called out

As former federal prosecutors of over 25 years combined who worked on dozens of sex trafficking cases, the treatment of some of the most vulnerable victims by then-U.S. Attorney Alex Acosta in the Jeffrey Epstein case is stunning and raises every sort of red flag.

Shouold be arrested:

A federal judge has ruled that Secretary of Labor Alex Acosta, when he was a U.S. attorney in Miami, broke the law in a sex trafficking case against a billionaire New York hedge fund manager by not informing his underage sex victims of a plea agreement. 

He pulled a Cyrus Vance,  incumbent New York County District Attorney.  That is he took some do-re-me o get big wigs off the hook on a sex charge.

I am 2/3 of an official identity group

Parents in Santa Barbara, California, are suing a leftist hate group called Just Communities and the local school board there to end the group’s taxpayer-funded so-called implicit bias training that has a powerful anti-white, anti-male, and anti-Christian slant.The lawsuit, filed in federal court in Los Angeles, was brought by Fair Education Santa Barbara, a nonprofit formed by parents of children enrolled in the Santa Barbara Unified School District (SBUSD).The group’s lawyer, Eric Early, calls the curriculum used in the district “radical, discriminatory, and illegal.” In a letter to the district’s counsel last September he wrote that “[t]eachers, parents and students have confidentially expressed their concerns that … [the] discriminatory curriculum has led to increased racial animosity toward Caucasian teachers and students.”

I will admit to white male, but I plead as an ex Catholic kid on the third.

This is the anti-Narco vote in another forum.

Bad news for Kamala

Trump's biggest support from suburban women comes from his declaration for a national emergency to fund the 500 miles of construction of wall along the the southern border. Suburban women support the effort at almost 50 percent, while the overall population only supports it at about 25 percent.

Read Newsmax: Zogby: Trump Approval Back Up With Suburban Women | Newsmax.com

The suburban women in the USA are the anti-Narco State vote.

Venefornia

Suffering from a bout of voter's regret. This is a possible millennial future in Calizuela.

Millennials and GavinCare taxes

The kids are likely to get stuck with a version of ObamaCare taxes in California.  But, the kids been there done that, and they don't want a second bout of voter's regret, it will destroy them financially.

So, the smart kids should take the lead, and make sure there is insurance sharing if expenses suddenly jump,. a stop loss mechanism to protect the millennial budget. This is the case for the coming tax battles, and they will be long ten to fifteen year battles, protect the millennial budget early, avoid a second bout of voters regret.

California tax numbers

I see about a five percent tax increase to meet current obligations, taxes in the works from local sales taxes, GavinCare taxes, and other consumer taxes. Hard to avoid those, but hard to pay them in the inner city. It leaves Gavin and the rest of the USA with little wriggle room on taxes. California has no tax surplus anymore.

This is also the second millennial go around on California income taxes and federal tax negotiations, this been done with Obama and Jerry.  Another been there done that, and the kids need to minimize the volatility of sudden tax changes. There will be another tax and sequester, get ready for that.

This is the millennials' first go around on prop 13, they will likely screw that up. The kids need to say:  'Set aside a reserve for my future voter's regret over prop 13'.

Scare the bejesus out of me will you!

Consider the case that we are entering a sunspot minimum, a cooling period of a few years, say the NASA brains.

Now there is a water, temperature connection, water freezes at the poles. So we expect the glacial cycle to synchronize with sunspot minimums, Holocene Man expects an ice age.

But the glacial cycle is a compression and expansion of the poles with kilometer thick ice. That will synchronize magma flows over four or five glacial cycles. The north American volcanoes are synchronized to blow with the solar minimum. That would be, like, next year or there abouts.

That is why baking apple pie is important, it is normal human activity.

Kamala got bigger health care problems

Clumsy Kamala

This national Review post starts with a discussion of Kamal and Medicare for all.

Her bigger problem, she comes from Nancy Obamacare California which just lost four out of six elections because of Obmacare taxes. Now we have Gavin opening that tax door yesterday, a 'been-there-done-that' for a whole bunch of Californians, and that battle is going to be in the news as she touts medicare for all.

This is the time to hold the tiller steady, don't rock the boat, let the government channel settle a bit with Obamacare..  But that was also the case in the previous recession cycles, now wasn't it?

Second, this whole campaign is inter-twined with a very difficult three-four way national tax battle that is shaping up, over regional and federal tax flows.  That one will dominate, and that one pits California against two or three other entities, and aligns them on the federal issue, a complex web likely unsolvable with Gavin in California..

Then the killer of it all, she wants to keep California a Narco State, and all the voters watch SoCal cartel members kill their children. Not the place and time to be a California politician on national stage.

What about Mexican farm workers and Chinese railroad workers?

Warren: Native Americans should be 'part of the conversation' on reparations

 Granted, American Indians get the bulk of the do-re-me. Indentured servants from Europe count. We have a list.

My senior senator snapping at the kiddies

The word is she got blind sided by a bunch of kiddies who been religofied into Greenie. Diane may be an affirmative selection pick, but even they get smart sometimes.

Greenie means melt extra ice today, like  digging up and moving lithium, with co2 belching tractors,  so we can refreeze it tomorrow. They never teach the complete cycle in Greenie religion. It is quite sad to see the kiddies brainwashed this early. Learning is about discovering your own pastel colored world, not having it lectured.

The magnetic pole change is a known unknown

We know it means something, but it could mean something in 20 million years or a hundred years. There are events way deep, or events having to due with surface magma in North America, and possibilities in between.

If this is about surface magma in North America, then the question is, is the magma pump bursting open again via volcanic cooling? If so, is it cataclysmic? Maybe we get a long simmering volcano blow at Yellowstone, enough to cool us down to Ice in Wyoming, a thick layer of glacial ice a kilometer thick, exactly what God would have intended.

And we be safe, all moved to nuclear fusion cities along the equator. We live for a finite infinity, enough that we see no other future. In my religion, we all realize we are biological bots, created by God's evolutionary nudge, and we dedicate ourselves to building large enough telescopes to see another God, way over yonder.

God is an apparent phase sift in the real quantum field that just keeps the atoms of biology determined after entering out quasar phase.  The real cataclysm if unmeasureably distant, it is when the telescopes become large enough to interfere with the quantum field, we begin to trap significant light, and we go quasar, spend time in five color super-intelligent God mode; then it maybe wash, rinse and repeat; or it may be just a continuous recycle program. So as puny biobots, we want to plead with the five color Gods, keep as pets. Let us keep out fusion cities on an iced over earth, with a few vacation privileges.

Someone else has a different theory, Equiliibrium Man. This theory says we get the glacial cycle, and control the carbon cycle, then we select our temperature over generational periods. We control carbon, then we set the glacial levels just enough to control spew along the volcanic ridge.

Why tort and global warming abatement work

Simple, if global warming is true, then damages should be soon statistically detectable, and assigned as losses.

Oil companies and citizen's become aware of the connection, tort and global warming abatement, before the damages are detectable, they take out tort insurance policies. Insurance companies begin doing statistical research, locating potential liabilities to avoid.

So, insurance companies are very interested in relative hurricane strength, history of sea flooding and water damage in NYC. Detectable changers in el nino and so forth. Insurance companies insure Holocene man from Industrial man.Cities which decide building permits should note carefully decisions made based on future storm damage and flooding, some of those decision maybe statistically refundable.  Data points the path forward.

Unfortunately, Holocene man has a beef with Ice Age Man. Glacial cycles mean something and we quit doing them a long time ago. I am pretty sure glacial cycles and magma pumping below the surface are connected. We been missing a huge chunk of ice for a longer time than usual.

Woa Nellie!

The number of retail stores closing this year just doubled to more than 4,000 — here's the full list

Dunnit with a dented curve

The Dow posted its ninth consecutive week of advances, its longest weekly winning streak in nearly 24 years, as investors continued to digest commentary surrounding progress toward a U.S.-China trade deal.

I would think the more time we do this with a dented curve, the larger be the reconciliation and claw back. 

My five color currency balancer

I got some details.

First, I am going to assume a bitcoin model, we have one glob of bit coin miner capactiy, a constrained channel.
Second, I need the copngestion feed, theminer's congestion fees.
Third, I know the USD is the major global currency by far, I let it have its own feed.
Thirs, Japan, CHina, EUro and Pound all form a balancd tree for the third feed.

Each node has the usual bid/ask which can be canceled as much as possible via Pauli exclusion, so we work the residual flows. My pit boss runs the binary tree, as needed, measures the miner queues (not set them), and packs them and packs in the US tax dollar.  Channel space allocated to stabilize queues everywhere, which should be the best measured sphere of bitcoin.

But, I can, if I choose, estimate the real bitcoin size, then, via published statistic, set that as the target in my own pit and trade bitcoin futures in units of tennis shoe, creating the shoe standard which will be used world wide by shoe makers, leaving the world better shoed getting me the Nobel prize. So just send me a check..

Boomers stay home for retirement?

Bottom line: The total number of homes for sale is about as low as it's ever been. Inventory listed on realtor.com in the first six months of 2018 is 18.2% lower than the same period in 2015. The sheer number of homes on the market in January 2018 was only 6.2 million, according to U.S. Census—a gigantic drop-off from the 14.3 million total in January 2009. Current inventory levels are comparable with what they were in the early '60s, when the Census started collecting the data and the U.S. had roughly half its current population.Yikes. The shrinking number of homes available means more bidding wars, bigger price hikes, and less selection. And this isn't something that is limited to a handful of places. Of the 50 largest markets, 39 saw a decrease in inventory over the past three years.

Supply shortage, and rents are rising.  About 2/3 of the market, and folks need to move to the other 1/3.  There is one bias. In places like Detroit, we have been doing a bit of Say's Law and eliminating entire neighborhoods via bulldozer.

Horse manure

Role of carbon tax in Green New Deal

ERICH PICA, is i confused.

The reason carbon taxes were proposed was to precisely protect favored government programs from the Green New Deal. And the author does exactly that, list his favorite programs which are exempt, and the list will be large making the Green New Deal worthless, a fraud,  which it is.

Tort works, get government out of the equation and you get less co2 pollution. Leave it to the judiciary.