Favorites March 10th 2023

June 2022, San Diego

Matthew Yglesias @mattyglesias

For workers under 55, labor force participation is above its pre-pandemic level (@SteveRattner) but it’s fallen for older workers. Remote work —> housing demand rises —> house price boom —> older workers retire early thanks to windfall investment gains. slowboring.com/p/the-pandemic…

That sequence leading from remote work to older workers retire is sorta wild, not the kind of thing that I would think anyone would expect ahead of time. Good to see prime age workers back at pre-pandemic employment levels. Also, black labor force participation is now much higher than white.

mle @_sadwaffle

@UrbFuturistDem @_johnsonator It’s a CDC report talking about STIs and teen pregnancy and correlated behaviors.

Less sex, but also less testing and condom usage, the responsible kids are just becoming celebate.

Noah Smith 🐇🇺🇦 @Noahpinion

I wrote about the fall of SVB -- why it happened, why it was always likely to happen, what happens to startups now, and what the effects on the broader economy might be.

noahpinion.substack.comWhy was there a run on Silicon Valley Bank?And how will this affect startups and the financial system?

Looks like Vox media had money with SVB, although they're ok so far. On the other end of the spectrum, some startup was going to have layoffs today, but now can't because their money was in SVB and now they can't pay severance. This is all considered evidence of "long and variable lags" in fed policy outcomes.

Anne Paulson @KrampusSnail

Huntington Bay's LOLsuit against Gavin Newsom, HCD, the state legislature and SCAG contains this remarkable argument: forcing cities to build more housing will lower rents, and this is a violation of the Commerce Clause of the US Constitution.

I mean, they were going to make *some* argument, but I must admit, this is quite a bit dumber than I expected.