Favorites June 15th 2022: Megafauna, Error Bars and Basis Points
I think I'm actually on board with this assessment, Michael Crichton had good ideas for books about disasters, but probably not a great source of policy advice. We're also really good at hunting megafauna.
The opening quote is amazing: "No matter how many solar panels it has, your parking garage isn’t green, and especially if you don’t charge for parking."
We really need to legalize speed cameras in California.
Plus, the Pfizer data turned out to be terrible, their error bars are between -300% and 100%. Why the heck did we wait 3 months for this?
The facts on the ground changed, and the fed adjusted, this is good to see, although I still think maybe they could have gone even higher. If they realize they've gone too far they can back off just as quickly. The last housing boom happened during even higher inflation rates.
• Pretty long thread about why the Ruble remains strong, the upshot is that it's the natural extension of allowing imports but banning most exports to Russia.