background preloader

More Economic Theory and Bits

Facebook Twitter

Stick to Burritos, Chipotle - Bloomberg Gadfly. If you didn't already think Chipotle was out of touch with reality, here's another reminder: The burrito chain may now be cooking up a new plan to sell burgers.

Stick to Burritos, Chipotle - Bloomberg Gadfly

In case you forgot, Chipotle has its hands full with a major PR crisis stemming from a series of food safety incidents linked to people who got sick after eating at its restaurants. Its stock is down 29 percent over the past year. Sales are in free fall. Corporate VC's holy shit moment: What does Intel know that Google, Sesame Street, Comcast, and Alibaba don’t? Prison Town Selling Its Jails to Grow Cannabis to Save their Economy — And It’s Working.

By Justin Gardner Source: Activist Post A tiny California desert town is making a drastic change to reverse its downward spiral and embrace an enlightened future.

Prison Town Selling Its Jails to Grow Cannabis to Save their Economy — And It’s Working

For 24 years, Adelanto tried unsuccessfully to sustain its economy through prisons, but now it will be hosting a very different kind of business—cannabis cultivation. The town became only the second city in California to permit commercial cultivation of medical cannabis, after a year of heated debate in the City Council. How a Basket on Wheels Revolutionized Grocery Shopping. The shopping cart leads a sad, under-appreciated existence.

How a Basket on Wheels Revolutionized Grocery Shopping

He is pushed around. Hang onto your wallets: Negative interest, the war on cash, and the $10 trillion bail-in. Remember those old ads showing a senior couple lounging on a warm beach, captioned “Let your money work for you”?

Hang onto your wallets: Negative interest, the war on cash, and the $10 trillion bail-in

Or the scene in Mary Poppins where young Michael is being advised to put his tuppence in the bank, so that it can compound into “all manner of private enterprise,” including “bonds, chattels, dividends, shares, shipyards, amalgamations . . .”? That may still work if you’re a Wall Street banker, but if you’re an ordinary saver with your money in the bank, you may soon be paying the bank to hold your funds rather than the reverse. Four European central banks—the European Central Bank, the Swiss National Bank, Sweden’s Riksbank, and Denmark’s Nationalbank—have now imposed negative interest rates on the reserves they hold for commercial banks; and discussion has turned to whether it’s time to pass those costs on to consumers.

Obama to propose $10-a-barrel oil tax. President Barack Obama is about to unveil an ambitious plan for a “21st century clean transportation system.”

Obama to propose $10-a-barrel oil tax

And he hopes to fund it with a tax on oil. Obama aides told POLITICO that when he releases his final budget request next week, the president will propose more than $300 billion worth of investments over the next decade in mass transit, high-speed rail, self-driving cars, and other transportation approaches designed to reduce carbon emissions and congestion. To pay for it all, Obama will call for a $10 “fee” on every barrel of oil, a surcharge that would be paid by oil companies but would presumably be passed along to consumers. The West Is Reduced To Looting Itself. By Paul Craig Roberts Source: I, Michael Hudson, John Perkins, and a few others have reported the multi-pronged looting of peoples by Western economic institutions, principally the big New York Banks with the aid of the International Monetary Fund (IMF).

The West Is Reduced To Looting Itself

Third World countries were and are looted by being inticed into development plans for electrification or some such purpose. The gullible and trusting governments are told that they can make their countries rich by taking out foreign loans to implement a Western-presented development plan, with the result being sufficient tax revenues from economic development to service the foreign loan. Seldom, if ever, does this happen. BofA: The Oil Crash Is Kicking Off One of the Largest Wealth Transfers In Human History. Economists are still hotly debating whether the oil crash has been a net positive for advanced economies.

BofA: The Oil Crash Is Kicking Off One of the Largest Wealth Transfers In Human History

Optimists argue that cheap oil is a good thing for consumers and commodity-sensitive businesses, while pessimists point to the hit to energy-related investment and possible spillover into the financial system. A new note from Francisco Blanch at Bank of America Merrill Lynch, however, puts the oil move into a much bigger perspective, arguing that a sustained price plunge "will push back $3 trillion a year from oil producers to global consumers, setting the stage for one of the largest transfers of wealth in human history. " Blanch and his team already see evidence that the fall in the price of crude is having a positive impact on demand, and say that it could accelerate even further if prices don't pick up.

The Stock Market Is Not The Economy. This is In Real Terms, a new column analyzing the week in economic news.

The Stock Market Is Not The Economy

We’re still experimenting with the format, so tell us what you think. Email me or drop a note in the comments. And thank you for all the great feedback last week! Last week, I mentioned the Royal Bank of Scotland’s recommendation to “sell everything.” At around noon on Wednesday, investors seemed to be taking the bank’s advice. My usual approach to writing about the stock market is not to write about the stock market. A 500-point drop is tough to ignore, though. China's economic crisis is coming. China's new year headlines are all about the economy.

China's economic crisis is coming

Official plans call for slower growth in 2016 and beyond, with the 7.5 percent growth target reduced to 6.5 percent. A run of poor results in the manufacturing sector calls even that more modest target into question. China's ultimate slowdown, once barely visible over the horizon, has now arrived. The era of easy growth based on China's reintegration into the global economy is now over. Comparisons with Japan, Taiwan, and South Korea are inevitable. Everyone Is Freaking Out About The $1.5 Billion Powerball, And The Stats Agree. Lotteries 5:52 PM Jan 12, 2016 By Walt Hickey An electronic Powerball sign in Colorado couldn’t handle the current $1.5 billion jackpot, so a gas station improvised.

Everyone Is Freaking Out About The $1.5 Billion Powerball, And The Stats Agree

Andy Cross / The Denver Post / Getty Images Well, this is it: the first North American lottery over $1 billion. With an advertised jackpot of $1.5 billion, and only five other Powerball lotteries north of a half-billion, we are far, far from home when it comes to reliably forecasting the turnout to this lottery. 10 Best Big Cities Worth Considering if You're Ready to Move in the New Year - Credit Sesame. If 2015 hasn’t been the best year, starting over in different surroundings can help you turn things around in the New Year.

Packing up and moving to a brand-new city could be a great opportunity to kick your career into high-gear or get over a failed relationship. Once you make up your mind to move, the next step is deciding where you’re going to put down roots. To make things a little easier for you, we’ve ranked the 10 best big cities around the country to get a fresh start. Some of the cities on our list, like San Francisco, are already hot tickets for job-seekers, but some of our picks may just surprise you. Competitors Eat Chipotle's Lunch - Bloomberg Gadfly. Add stiffer competition to the list of worries at Chipotle. Mexican Grilled Chipotle's share price is down 40 percent. Source: Bloomberg. Relatively Interesting The world's most valuable substances in the world (by weight) - Relatively Interesting.

The lottery and social despair in America. By Andre Damon Source: This mania, so generally condemned, has never been properly studied. Uber Revolutionizes Common Sense. The Uber revolution has created a surge of support for free markets, although not every Uber advocate realizes what he or she is supporting. Those who use the ride-sharing service know the difference it has made in their lives, and they resent attempts to maintain (or resurrect) the taxi cartels’ political privilege. What’s most surprising is the quality of the arguments Uber’s defenders make on social networks and elsewhere. Universal Basic Income Will Likely Increase Social Cohesion. I think we should avoid letting our ideologies inform our opinions on matters of social and economic policy. What matters is scientifically observed evidence. I support the idea of providing everyone with an unconditional basic income not because I just think it’s the right thing to do, and the best way to make ongoing technological unemployment work for us instead of against us, but because such an overwhelming amount of human behavioral evidence points in the direction of basic income.

Why Are We Still Working? How Credit Cards Tax America. Photo by Frankieleon How much money did you send your bank this year when you used your credit card? Is this sunny state trying to kill solar power? Getty Images Nevada has turned into a sunny battleground for the future of solar in the U.S., with regulators there moving to make solar power less attractive to homeowners and businesses and pitching utilities against solar-power companies. Epocalypse Now: The Economic Apocalypse is Here. Wealth, status, and currency in Shakespeare's world [infographic] Common ground for independent workers — What’s The Future of Work? Byron Auguste, Senior Fellow, New America & Managing Director, Opportunity@Work Brad Burnham, Partner, Union Square Ventures.

Math on Rubionomics Way Crazier Than You Think. Last week, Citizens for Tax Justice, a liberal think tank that uses mainstream economic tax modeling, analyzed Marco Rubio’s tax-cut plan. Businessinsider. REUTERS/Rick Wilking. When a 127-Year-Old U.S. Industry Collapses Under China's Weight. Offshoring the Economy: Why the US is on the Road to the Third World. On January 6, 2004, Senator Charles Schumer and I challenged the erroneous idea that jobs offshoring was free trade in a New York Times op-ed.

Here's What Really Happens When A Restaurant Bans Tipping. Huffingtonpost. Want a Raise? Work for the Government. This is the one change by millennials that will change absolutely everything. The Darkness Before the Right. Capital - Is this the end of tipping? Why Aren’t America’s Shipping Ports Automated? Newyorker. A Study in Total Depravity. Capital - The great six-hour workday experiment. The safe, user-friendly way to be a little drug lord: economic secrets of the dark web. China Falters, and the Global Economy Is Forced to Adapt. Capitalists from Outer Space. Theconversation. Who Will Lose in the War on Contractors?

A true crime tale of comic books, corruption, and a $9 million vanishing act. Welcome to Life: The Singularity, Ruined by Corporations. The Myth of the Ethical Shopper - The Huffington Post. The Logic of Surveillance Capitalism. Capital - The end of middle management? A World Without Work. John Feffer, Why the World Is Becoming the Un-Sweden. Ban cash, end boom and bust. Your Lifestyle Has Already Been Designed. How China Inflated A Global Bubble In Fine Wine & Spirits - And Then Popped It. Stock market rigging is no longer a ‘conspiracy theory’ Interactive currency-comparison tool: The Big Mac index. ASEP/JDS. Are you a stingy tipper? You may have unresolved trust issues. Princes of the Yen: How Japan's Central Bankers Engineered their Country's Boom and Bust.

Rickards: Fighting the Islamic State with Special Operations. Meet the Family Behind the First Weed Credit Union. Go West, young Han: How China and the new Silk Road threaten American imperialism. THE NEW AMERICAN SERVICE; Easygoing, Not French And Formal. Use a 'Fake' Location to Get Cheaper Plane Tickets  International trade: A troubling trajectory. Should You Sell Your Car At Carmax? - The Truth About Cars. Detroit burger joint shows it’s possible to pay workers $15 an hour and still make money.

Afghanistan: The Making of a Narco State. Review: Casamigos Anejo Tequila. Wall Street’s radical new rival? Why this investment firm says it’s catering to the 99 percent. Et tu, Frederic Malle? Adventures in Historical Materialism: Al Capone on Capitalism. Why Legalizing Medical Marijuana Will Make Investors Extremely Wealthy. Nate Hagens - Limits to Growth: Where We Are and What to Do About It. The Gratuitous Injustice of American Tipping Culture. A Rational Case Against the Irrationality of Tipping. How Germany managed to abolish university tuition fees. How Germany managed to abolish university tuition fees.

It's no bubble: insane dotcom valuations reveal how integral tech is to our lives. Actually: You ARE the Customer, Not the Product. The Zero-Sum Game of Perpetual War. Are we heading for technological unemployment? An Argument. Integral Sustainability: Correlating Action Logics with Sustainability to Provide Insight into the Dynamics of Change. Sick of this market-driven world? You should be. No More Reservations: Exclusive Restaurants Require Tickets Instead. Greed destroyed us all: George W. Bush and the real story of the Great Recession. Something very strange is happening in Miami. Why the Millennial Architect Won’t Be Your CAD Monkey. Wall Street Analysts Predict The Slow Demise Of Walmart And Target. Blogs - Adam Curtis - WHAT THE FLUCK!

Seeing a Supersize Yacht as a Job Engine, Not a Self-Indulgence. Watch 15 Magically Awkward Seconds Roll By While A Man Panics After Accidentally Insulting America. John Oliver Blames The Wealth Gap For Killing The American Dream. Stopping harmful climate change is surprisingly cheap - environment - 04 July 2014. The best of capitalism is over for rich countries – and for the poor ones it will be over by 2060. Former NSA Chief Is Working For Wall Street Now. Everything You Don't Know About Tipping. Watch The Video That Coca-Cola And McDonald's Hope You Never See. You're being redirected to. More Corporations Using Tag And Release Programs To Study American Consumers. The Impossibility of Growth.