Men Without Work | Thoughts from the Frontline Investment Newsletter | Mauldin Economics
... The growing incapability of grown men to function as breadwinners cannot help but undermine the American family. It casts those who nature designed to be strong into the role of dependents – on their wives or girlfriends, on their aging parents, or on government welfare. Among those who should be most capable of shouldering the burdens of civic responsibilities, it instead encourages sloth, idleness, and vices perhaps more insidious....
...the some 20 million former felons who have been relegated to second-class workforce status...
...Maybe we need to rethink about how long felony convictions stay attached to personal records. When you can’t even rent an apartment in many states because you were a felon, and in some cases simply because you were charged with a felony at some time in the past, is it any wonder that we have large numbers of people not participating in the labor force?...
...Between 1948 and 2015, the work rate for U.S. men twenty and older fell from 85.8 percent to 68.2 percent.
Tuesday, March 28, 2017
Saturday, March 25, 2017
Tesla Will Take Orders for Its Solar Roof in April - Bloomberg
Tesla Will Take Orders for Its Solar Roof in April - Bloomberg
After Tesla acquired SolarCity in November, Musk said Tesla’s new solar roof product will actually cost less to manufacture and install than a traditional roof—even before savings from the power bill. “Electricity,” Musk said, “is just a bonus.”
Still, the solar tiles are likely to be a premium product: The terra cotta and slate roofs Tesla mimicked are among the most expensive roofing materials on the market—costing as much as 20 times more than cheap asphalt shingles.
Friday, March 24, 2017
Honeymoon's Over for Peer-to-Peer Lending - Bloomberg Gadfly
Honeymoon's Over for Peer-to-Peer Lending - Bloomberg Gadfly
...many larger financial institutions are trying to break into the computerized lending business. For example, SunTrust Bank has its LightStream platform and Goldman Sachs recently launched its Marcus online consumer lending system.
...many larger financial institutions are trying to break into the computerized lending business. For example, SunTrust Bank has its LightStream platform and Goldman Sachs recently launched its Marcus online consumer lending system.
These larger financial firms have the upper hand at this point. ...
Pension Crisis Too Big for Markets to Ignore - Bloomberg View
Pension Crisis Too Big for Markets to Ignore - Bloomberg View
In late 2006, Aaron Krowne, a computer scientist and mathematician, started a website that documented the real-time destruction of the subprime mortgage lending industry. The Mortgage Lender Implode-O-Meter caught on like wildfire with financial market voyeurs, regularly reaching 100,000 visitors. West Coast lenders, some may recall, were the first to fall in what eventually totaled 388 casualties.
A year earlier, to much less fanfare, Jack Dean launched another website in anticipation of the different kind of wave washing up on the California coastline. Called the Pension Tsunami, ...
...I started tracking this issue in 2004 after the Orange County Board of Supervisors gave a retroactive pension formula increase of 62 percent to county employees,” he said. “I was stunned. It’s the main reason Orange County has a $4.5 billion underfunded liability today.”
Rents in Megacities Can't Go Up Forever - Bloomberg View
Rents in Megacities Can't Go Up Forever - Bloomberg View
...Some activities, such as dentistry and cement production, don’t cluster geographically very much, for obvious reasons. In contrast, finance (New York and London), information technology (the Bay Area), and entertainment (Hollywood and New York) are the most clustered. For whatever reasons, it makes sense to have many of the top decision-makers in one place....
...looking forward, the supercreators of the next generation just aren’t that rich yet, and they may prefer to experiment with their new ideas in lower-rent environments, if only because that will make it easier to hire other people...
...Part of the vitality of the current megacities is that they have had cheaper areas on their fringes, such as Brooklyn in New York or Oakland or East Palo Alto in California, but increasingly those areas are cheap no more....
...The importance of the megacities is hardly going away. But neither do we face a future where the expense of living in these cities simply will rise without limit.
...Some activities, such as dentistry and cement production, don’t cluster geographically very much, for obvious reasons. In contrast, finance (New York and London), information technology (the Bay Area), and entertainment (Hollywood and New York) are the most clustered. For whatever reasons, it makes sense to have many of the top decision-makers in one place....
...looking forward, the supercreators of the next generation just aren’t that rich yet, and they may prefer to experiment with their new ideas in lower-rent environments, if only because that will make it easier to hire other people...
...Part of the vitality of the current megacities is that they have had cheaper areas on their fringes, such as Brooklyn in New York or Oakland or East Palo Alto in California, but increasingly those areas are cheap no more....
...The importance of the megacities is hardly going away. But neither do we face a future where the expense of living in these cities simply will rise without limit.
Monday, March 20, 2017
Rookie Currency Traders Are Causing Trouble at Crucial Moments - Bloomberg
Rookie Currency Traders Are Causing Trouble at Crucial Moments - Bloomberg
...The organization concluded that “less experienced” traders handicapped by a limited knowledge of which algorithms to use at that moment “amplified” the route....
...Younger, lower-paid employees make up a greater percentage of trading desks than they have in years.
...The organization concluded that “less experienced” traders handicapped by a limited knowledge of which algorithms to use at that moment “amplified” the route....
...Younger, lower-paid employees make up a greater percentage of trading desks than they have in years.
Part of banks’ broader effort to cut staff, boost electronic trading and lower costs following the global crisis, the “juniorization of Wall Street,” as some in the industry call it, has been particularly acute in the foreign-exchange market.
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