Tuesday, December 29, 2015
Lemmy's dead, and other news
So Lemmy passed away last night, 4 days after his 70th birthday.
And there's a lesson we can all take from this: if you've been drinking a bottle of Jack Daniels every day for the past 50 years, for the love of god don't switch to vodka at age 69 "for your health".
Anyway, here's some news:
Calculated Risk - chemical activity barometer ends year with modest uptick. Which should mean industrial production goes positive again soon.
Robert's Stochastic Thoughts - there is no such thing as NAWRU. Yup, turns out that the data proves the Phillips curve is horizontal. The supposed correspondence between inflation and unemployment is based on a "spherical cow" assumption that output is employment; but did the macroeconomists ever scare up the slightest piece of data to prove it?
Bloomberg - Finland finally realizes it should never have joined the Euro common currency union. And what's great about this is that Finland has spent the past five years goose-stepping in line with Schauble, demanding austerity from the EZ periphery. Well, guys, now that the Nokia cash cow is gone, I guess you're just going to have to impose an internal devaluation on yourselves, eh? Fire all civil servants, privatize all industry, ban unions, jack up unemployment by 20%, eliminate all benefits, cut pensions, y'know? Karma's a bitch, Finland.
Fortune - the highest selling books in the US are adult colouring books. And thus Donald Trump becomes President.
National Interest - Moldova's drama on the Dniester. WHO THE FUCK CARES. Y'know, there are some countries that aren't even worth the electrons, and Moldova right now is three of them.
The Force.net - the Ewoks are dead. All of them. OK, that's good.