Thursday, August 20, 2015

Let there be light

It isn't coming, it is here. The massive switch worldwide from incandesants to LEDs is going to change things in many wonderful ways. In an unusual twist not seen since public water and sewer it will be the poorest that benefit most. Villages in the third world will have extra hours to perform work that raises their standards of living. When not working; reading/learning. Great news. What about we first world slobs? Well since we waste so much lighting the night for no good reason and many bad reasons at least we won't be weasting as much energy while doing it. Hopefully the switch will include smart sensors so that the evils of light pollution can be likewise diminished. And since it often confuses me click this reference page discussing lumens, watts and such.

Friday, August 14, 2015

Better Than Lying with Statistics

You have to admire the warmists.  Here's the alarming graph from the LATimes:


Sure, it says "Extreme heat" but the fine print reveals it to be "heat index." 

DPI by Quintile

Advisors Perspectives Doug Short has a good chart:


And the BEA has their monthly Personal Income report:


The bottom 4/5ths? 
Personal income increased $68.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $60.6 billion, or 0.5 percent, in June, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $25.9 billion, or 0.2 percent. In May, personal income increased $66.3 billion, or 0.4 percent, DPI increased $53.8 billion, or 0.4 percent, and PCE increased $90.8 billion, or 0.7 percent, based on revised estimates. 

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Small wonder the bottom 4/5ths still see recession. 

Tuesday, August 11, 2015

Going to the Bank for a Loan

Dawg: "I've come here for a loan."

Banker: "Excellent.  Contrary to popular opinion that's is indeed what we are here for. 

Dawg: "I have these great ideas for expanding my business."

Banker: "Go on."

Dawg: "It's simple.  Instead of automation I want enough money for the next few years to cover my expenses vice minimum/low wage employees instead of technology displacement investment." 

Banker: "Doesn't sound very smart Mr. Dawg." 

Dawg: "Exactly."

Banker: "Exactly?"

Dawg: "Yes.  Here's how the math breaks down.  All my competitors see the writing on the walls and decide
jettison meatsacks as fast as possible.  I pick them up cheap but not so cheap that I can compete.  At first."

Banker: "Wait?"

Dawg: "Yes, and this is the genius.  I wait.  After the first wave I adopt the best technology and at a fraction of the early adopter prices.  THEN I dump the biological cost centers in favor of optimal capital return.  " 

Banker: "Ahhh, yes.  We can do business." 

Monday, August 10, 2015

Financial Media Are Stupid

Consider:
http://www.marketwatch.com/story/china-has-effectively-re-pegged-the-yuan-2015-08-10
Wherein the claim is made:
Indeed, the Chinese currency, also known as the renminbi, has been remarkably steady over the past month despite the huge selloff in China’s stock market and a spate of disappointing economic data.
Market strategists, including Simon Derrick, chief currency strategist at BNY Mellon, and Marc Chandler, head currency strategist at Brown Brothers Harriman, said that’s because China’s policy makers have effectively re-pegged the yuan.
“When I look at the dollar-renminbi right now, that looks like a fixed exchange rate again. They’ve re-pegged it,” Chandler said. 

And now a few hours later:
http://www.afr.com/markets/currencies/australian-dollar-falls-as-chinese-yuan-devalued-20150811-giwco8

Wherein we learn:

The People's Bank of China sets a mid-point for yuan trading against the US dollar each day. The rate has remained fairly stable since March but Tuesday's devaluing is the largest on record.

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Better than a "slumdog" call. 

The More You Got The More...

Household Incomes by quintile and the top 5%:


Any wonder the bottom half still thinks there's a recession?