I find it inspiring that students are paying $90K a year for Outward Bound courses… Go Quakers! Like go… really, really far away from here.

Gappy, my love knows no bounds

(on Grossman-Stiglitz) 'The papers represent much of what is wrong with academic finance today. These are just-so stories, unfalsifiable, in which the community congratulates itself for being able to tell the story in some stilted language (in the

Margins appear to have reached a permanently higher plateau /s

Ah yes... ECI and home prices... that's what we should be watching...

Sigh... ECI combines hours worked and wages. There was a decline in hours worked (2nd chart).

If I go, there will be trouble...
And if I stay, it will be double

'pretty strongly'? Has Bill been kidnapped and is signaling for help?

Just your regular reminder that the 'copper tailwind from electrification' is nowhere to be found. Much more powerful to have a 'copper tailwind from institutionalization' a la 2005.

I find these takes to be ridiculous. I just walk into the restaurant, hand my wallet to the waitstaff and leave for home where I can get great food and good service. The rest of you are doing this wrong.

I sense a trap…

Maybe I misunderstood what part was halvening...

Airlines are an industrial? Hmmm... seems much more like 'time to visit the grandkids now that our money markets are paying 5%.' Or maybe we should take a cruise....

Ken's point on Quits vs Atlanta Fed Wage Tracker

Two guys walk into a charitable event...

Is anyone going to be at the UK National Archives in Kew soonish? I need photos of a letter from a Foreign Office archive. I have the exact reference, and I am happy to reimburse you for your time. 🙏

Must have been the Lagarde pirouette... /s

The total quantity of US bonds has grown only marginally relative to the rest of the world h/t Michael Green

Empty-bestering

Not your imagination -- real private sector wage per worker was flat

Hope I'm wrong.