All of the major rating firms -- Fitch, Moody's, S&P, etc -- rated CDOs based on subprime mortgages as high-quality investment-grade paper. During hearings on the subprime crisis, the US Senate heard testimony from multiple experts recommending that none of those firms should ever be allowed to rate CDOs in the future. I am somewhat more vindictive -- send a serious message and just put them out of business entirely.
3 weeks ago
The Economist has stayed the course much better than some other major publications that have drifted from journalism to viewpoint advocacy.
I dropped my subscription when they went full cheerleader for the Iraq War. They were even more enthusiastic and optimistic than the Bush administration was.
3 weeks ago
now Stinky says he’s going to do a 10% global tariff.
But no more, anywhere? Last month BYD filed suit at the US Court of International Trade challenging much higher tariffs than that on their EVs. If the tariff on compact EVs is reduced to 10%, they'll be opening dealerships tomorrow and dominating EV sales by next year. I claim there is an enormous unmet demand for well-built compact EVs priced at $20k, and BYD can meet it.
4 weeks ago
The robots are coming.
Elsewhere, I was in a discussion about the power requirements for an AGI that can handle all the things a humanoid robot will be asked to do. Current estimates are the human brain is roughly the equivalent of an exaflop processor. Germany recently fired up their new exaflop supercomputer, which is the most power efficient in the world. It draws 18.2 megaWatts (and the hardware takes up ~120 racks). I anticipate that a humanoid robot that can properly execute an order like "Go through the house, collect all the dirty dishes, load them into the dishwasher, and run it" will be a fancy peripheral for a closet full of computer gear drawing more power than the entire rest of the house.
4 weeks ago
On Wednesday this week, Trump signed an executive order that requires the Dept of Defense -- excuse me, Dept of War -- to sign long-term power purchase agreements with coal-fired power plants to provide power for military bases to keep those plants running. Separately, that the Dept of Energy will provide at least $175M for maintaining and upgrading coal-fired power plants in Appalachia. The EO includes a provision that the PPAs cannot infringe on the authority of other executive branch agencies. I have SO many questions about how they're going to make this work within the constraints set by FERC.
4 weeks ago
My in-laws in Colorado on the other side of the divide are freaking out about the lack of water and snowpack, too.
The problems west of the Divide make the ones to the east look fairly moderate. Snow timing has changed just in the almost 40 years I've lived here now. Having April snow bail us out has become a fairly regular occurrence. Not so much on the west side.
Care to share names?
What's the meme? All of them, Katie.
All of the major rating firms -- Fitch, Moody's, S&P, etc -- rated CDOs based on subprime mortgages as high-quality investment-grade paper. During hearings on the subprime crisis, the US Senate heard testimony from multiple experts recommending that none of those firms should ever be allowed to rate CDOs in the future. I am somewhat more vindictive -- send a serious message and just put them out of business entirely.
The Economist has stayed the course much better than some other major publications that have drifted from journalism to viewpoint advocacy.
I dropped my subscription when they went full cheerleader for the Iraq War. They were even more enthusiastic and optimistic than the Bush administration was.
now Stinky says he’s going to do a 10% global tariff.
But no more, anywhere? Last month BYD filed suit at the US Court of International Trade challenging much higher tariffs than that on their EVs. If the tariff on compact EVs is reduced to 10%, they'll be opening dealerships tomorrow and dominating EV sales by next year. I claim there is an enormous unmet demand for well-built compact EVs priced at $20k, and BYD can meet it.
The robots are coming.
Elsewhere, I was in a discussion about the power requirements for an AGI that can handle all the things a humanoid robot will be asked to do. Current estimates are the human brain is roughly the equivalent of an exaflop processor. Germany recently fired up their new exaflop supercomputer, which is the most power efficient in the world. It draws 18.2 megaWatts (and the hardware takes up ~120 racks). I anticipate that a humanoid robot that can properly execute an order like "Go through the house, collect all the dirty dishes, load them into the dishwasher, and run it" will be a fancy peripheral for a closet full of computer gear drawing more power than the entire rest of the house.
On Wednesday this week, Trump signed an executive order that requires the Dept of Defense -- excuse me, Dept of War -- to sign long-term power purchase agreements with coal-fired power plants to provide power for military bases to keep those plants running. Separately, that the Dept of Energy will provide at least $175M for maintaining and upgrading coal-fired power plants in Appalachia. The EO includes a provision that the PPAs cannot infringe on the authority of other executive branch agencies. I have SO many questions about how they're going to make this work within the constraints set by FERC.
My in-laws in Colorado on the other side of the divide are freaking out about the lack of water and snowpack, too.
The problems west of the Divide make the ones to the east look fairly moderate. Snow timing has changed just in the almost 40 years I've lived here now. Having April snow bail us out has become a fairly regular occurrence. Not so much on the west side.