Hillary's poll bounce
Left me nowhere to go but
To the Villages!
10.21.2015
10.13.2015
CalPERS to lower return targets -- but only if it has a really big year first
WSJ:
The officers that run the largest U.S. pension fund are proposing to lower their investment goals for the first time in four years, a move that could lead to higher contributions for government workers as well as cities and counties across California.Mmmmm-hmmmmm.... So you're coming off one of the biggest stock market rallies in history, stocks and bonds are both near all-time high prices, but you're not going to do anything unless your balanced portfolio goes up another 11.5% in a year.
The plan from the California Public Employees’ Retirement System, which will be considered by its board next week, would trigger a reduction in the fund’s current 7.5% return assumption following profitable years when it earns more than expected.
[...]
The new proposal outlines a range of scenarios where Calpers would lower its return assumptions in years when investing profits top internal goals by 4% or more.
10.11.2015
Waiters gone bad
La Jolla Light:
After leaving work at NINE-TEN Restaurant around 11:30 p.m. Wednesday, Sept. 30 and walking south on Draper Avenue, a man came around the corner by the post office wearing a Halloween mask, hooded sweatshirt and baggy pants and aiming a handgun at me while shouting at me to give him my purse.I wonder if he showed up for his shift the next day.
10.10.2015
10.06.2015
What's wrong with this picture?
The ever-amusing Krugmanesque Professor Menzie Chinn, arguing that data demonstrate that deficits are good for economic growth:
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UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
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Only the police should have guns, you know. The shocking double murder of a young couple in Irvine turns out to have been suspectedly com...
QE has permanently ruined bonds for investors
You used to earn an interest rate roughly inline with nominal GDP growth, even slightly better. Since the Fed started manipulating interest...