David

I’ve had several interesting jobs in economics and finance.

[David @I_read_finance]

@FloppingAces The job of journalist evolved from cramming who what where when why into lead paragraphs so the reader can understand a situation, to now journalists see themselves as storytellers usually with a political spin. The goal is now to instruct others what to think about things.

[David @I_read_finance]

@beric1007 @StefanMolyneux The main theme was accurate, not the details. There would be no meeting of senior management in the middle of the night because an analyst thinks he found an error in a formula. The risk officer would never defer to a quant saying he must be right because of his degree.

[David @I_read_finance]

@JustineBateman After years and years of deception and government dishonesty, my cynicism is at 100%. It will raise $500 million a year and text says the money can also go toward environmental justice and low income issues. It just another tax layered upon the highest taxed state.

[David @I_read_finance]

@StefanMolyneux There were several causes of the Great Financial Crisis, not just one, including short sighted housing legislation, lack of oversight of financial institutions, dysfunctional incentive structures, poor risk management, information failures, and incorrect economic theories.

[David @I_read_finance]

@Afinetheorem Maybe the people who don’t want these developments have driven on California’s highways, saw the massive ticky tacky low quality sameness of a sea of houses and condos and said “not that” for their own towns. They are never not being built yet prices still rise.

[David @I_read_finance]

@_The_Prophet__ Yes, this is the top down big picture view but there are many other layers such as the successful Democrat political theme to demonize the upper income earners, so few are paying these very progressive high taxes and those who are not cheer on the greater burden on those demons.

[David @I_read_finance]

@RussCumswell @hecubian_devil Text in the original paper : “Putting these together, for the average MSA, UIWF can explain approximately 30% of the
total increase in house prices and 20% of the total increase in rents.”
Are you arguing about the methodology or what?

[David @I_read_finance]

@RussCumswell @hecubian_devil Put my inquiry “How much of house price increases were due to illegal immigration according to the federal reserve in Dallas” into Grok and see what it says for yourself.

[David @I_read_finance]

@RussCumswell @hecubian_devil Grok: “According to a March 2026 working paper from the Federal Reserve Bank of Dallas (by economists Daniel J. Wilson and Xiaoqing Zhou), unauthorized immigrant worker flows (UIWF) from early 2021 to early 2024 explain approximately 30% of house price increases . . .”

[David @I_read_finance]

@TheKevinDalton I think the most fun point is Newsom jumps back and forth between claiming California would rank 4th in world by GDP if it were a separate country, but then claiming helplessness in that it can’t do projects without the help of the federal government.

[David @I_read_finance]

@MichaelRStrain Yes, after high school kids watched parents work from home and reduce their hours and effort post-covid, expectations changed for them about what work means, shifting to minimal effort. College reinforced this as they focused on how to mask your assignment was from ChatGPT.

[David @I_read_finance]

@StunnedD1 @Handre True, I like Handre’s comments on many things but here he is describing a structure that misses the current situation as if banks wait for a deposit and then expand their loan book, whereas now the constraint is rather capital adequacy requirements and other regulatory controls.

[David @I_read_finance]

@RichardHanania My opinion is you are missing the point. Health care is now a mess in the US because capitalism is not being followed. Monopolies are a preventable flaw of capitalism. When my manager calls a competing hospital to help determine pricing, that’s not capitalism.

[David @I_read_finance]

@GreenPlusAnE Interesting point and touches on that economist’s views are influenced by their toolkit where they have data for income but not for lifestyle, and also beyond this even the way national statistics are grouped guides thought towards certain economic frameworks.

[David @I_read_finance]

@SRCHicks Serious problem is using PCE inflation deflator which is not really comparable over decades (what’s the price of your iPhone in 1960?) missing structural economic and social changes.

[David @I_read_finance]

@Dangerisinu @financedystop We had to do exactly that also, with the elder really not able to manage the screen with messy electronic font and instructions like hold the button down for 5 seconds to make it permanent rather than temporary. Our relative grew up in a house without electricity.

[David @I_read_finance]

@GeekTracker @Zaira583642 New hobby is teasing out why it’s AI, since viscerally you know it, but why do you know it. Of course one can pick obvious issues like the wrong coke bottle but that’s not it, AI so far is unable to understand deeper levels intuition.

[David @I_read_finance]

@mgaldino @BrianCAlbrecht As for Varian, multiple studies show MC curves he emphasizes are not upward sloping per actual plant managers, while Blanchard lists multiple excuses for the GFC rather than Minsky’s reality of fundamental flaws in capitalism. Economics is not settled science.

[David @I_read_finance]

@DeirdreMcClosk Economics is fundamentally not settled for a variety of reasons one of which is how much the conclusions are based on politics and fundamental ideas of individuals versus collective outcomes.