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Oh Hell no that thing is not coming into my house.

The utter failure of the Fire Phone apparently hasn’t curtailed Amazon’s huge ambitions in hardware. The company today unveiled Amazon Echo, a slightly quixotic, 9-inch tall speaker that plays music, fields voice commands and Internet queries, responds in a pleasant conversational voice, and of course (since this is Amazon, after all) will obey instructions to put various products into your (AMZN) shopping cart.

Oh yeah, I want a "speaker" that's always on, always listening and "obeys commands."

I utterly trust this always listening device to only process anything when I address it, never do so on command of someone else (like the pigs, the NSA, Amazon themselves, etc) and to never, under any circumstances, make what it hears available to anyone without my explicit authorization.



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2014-11-08 05:30 by Karl Denninger
in Editorial , 161 references

You have to chuckle at how this suddenly becomes a "revelation" when I've been talking about it since before the crash....

‘You want quantitative easing? I’ll show you quantitative easing!” That’s the message Japan’s central banker Haruhiko Kuroda sent to global securities markets Friday, spurring the Dow to a record high. He announced that he will boost asset purchases by up to one-third, snapping up even more debt paper than the Japanese treasury is issuing.

Central-bank worries about deflation may be misplaced. Couldn’t it be that it is the mounting global debt that is dragging down economic growth, not a lack of fiscal or monetary stimulus?

Sssshhhhh!  There's that damned math showing up again!

Uh, yeah.

See, there has been no deleveraging at all of note.  I've pointed this out several times, using nothing more than the Fed's own data.  C&I (business) loans never decreased in outstanding amount, not even for one quarter, since 2008 and what did decrease in the main (inter-bank credit for derivatives, mostly) was almost immediately offset by federal deficit spending -- which has not really abated either despite what people will try to tell you.

The belief that "I'll be out of office before this blows up" is pervasive in various legislative bodies and among the central banks.  That it will blow up, because it must simply on the arithmetic, is not really in question.  Trees do not grow to the moon because there is a limit to all compounded growth, just as is the case for every other compound growth paradigm.

Yet this paradigm is at the heart of what so-called monetary policy wonks believe.  It's a false paradigm and intentionally so, for those people are fully aware that the laws of nature just are, and that physics prohibits indefinite compound economic growth because energy production cannot grow on a compounded basis forever and behind every unit of GDP is a unit of energy.

Exactly when the physical realities of life assert themselves can be computed but that too is a false dawn because markets never let you actually reach the terminus of such a series -- panic always strikes first as recognition comes, even when there is still some (albeit often small) margin remaining.

Thus it will be this time, as it has always been in the past.

But isn't it amusing, this far down the line from 2008, to see that admission in the nation's "Paper of Business Record" -- even if only in an op-ed.....

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There's dumb, there's really dumb and then there are those so arrogant that they think what big banks do on a daily basis can be done by them without going to prison.

The official FBI New York Twitter account confirmed on Thursday the seizure of Silk Road 2.0, saying that the site's alleged operator, Blake Benthall, was arrested in San Francisco on Wednesday. 

He now potentially faces life in prison, the FBI says.

Benthall is a former employee of SpaceX, Elon Musk's private rocket company. SpaceX confirmed to Business Insider that an employee with that named worked at the company from Dec. 9, 2013 to Feb. 21, 2014.

Sorry, but if your last name is not "Dimon" or similar this sort of thing is a bad idea.

Oh, and if you're talking about it on the Internet?  It's probably the FBI on the other end of the connection.

The busts are apparently international as well with at least one other arrest happening in Ireland.

The guy who was arrested appears to have been stupid in addition to arrogant; not only did he keep customer lists around he did so on an unencrypted machine and now the FBI has that as well.  

If you transacted on Silk Road 2.0 you're ****ed, in short, especially if you were on the selling side.

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Total nonfarm payroll employment rose by 214,000 in October, and the unemployment rate edged down to 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, retail trade, and health care.

On the household survey the employed figure rose a stunning 995,000!  Half of this came from "not in labor force" shrinking by 500,000 people -- a large change.

Nice spike.  Annualized it's huge; it's not out-of-range on the monthly basis, but this is an outlying month compared against last year, and it shows in that nice fat spike.

And, as you can see, the NILF change rate is right there.  Note, however, that it is still not below zero on an annualized basis.

Heh look -- air!

There is starting to look a bit better... not great, but better.

Internally there are some interesting figures. Chief among them is that the employment:population ratio for young workers, 16-19, rose substantially -- up by nearly two full points to 34.2% from 32.5%. The sad part is that these jobs are almost all McJobs, but the improvement is real. Of the 995,000 jobs added, however, 316,000 of them were among the 16-19 year age group. This is a very large change and ridiculously over-represented.

The household survey is much stronger than the "official figures"; whether people will pick anything up on the market with this is unknown, but it damn well ought to be.  

I wonder if The Fed is going to pay attention to that -- they may have to if this continues, assuming it's real.

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I know I've commented on this before but this article, which is a bit old, was sent to me recently -- and I think I'll weigh in again.

Dating is done. Seriously, who goes on dates anymore? It’s all about hooking up, getting a number, grabbing a drink and getting down. I think I’m the only single guy I know that actually takes a girl out to a restaurant on a first date. There’s a reason for this.


Eventually, I feel that women will wise up and start asking for the things that they deserve, the things used to be automatic and expected of men, like holding a door, pulling out a chair, and paying for dinners.

Until then, men are going to get away with putting in the bare minimum and receiving what we ultimately want anyway – sex. It’s pretty obvious that women own the cards, and when they start acting like it, they’ll finally start getting dinner from places that don’t deliver.

In the end the blame goes to the women, of course.  From a man's perspective, so the author claims.

To some extent perhaps he's right.  Women ought to think long and hard about the wisdom of grabbing a guy who is seeing someone else (no matter how seriously) and blowing him in the bathroom.  You might well get him to decide he'd like to sleep with you more than with whoever he was pursuing by doing that, but what happens when the next (hotter, I might add) babe comes along and blows him in the bathroom while you're out with him one evening?

If you think that he won't do the same thing a second time you're delusional, arrogant beyond words or both.  Trust me ladies, no matter how hot you might be there's always someone hotter or easier to get along with (even if that means being self-destructive when "he man" demands a beer-n-sammich!)

Before someone slings the misogyny label at me let me point out that this works both ways.

The man who decides to date a woman who is involved with someone else and fails to end the previous relationship first (or who fails to break it off with the woman he's seeing before he goes after someone else) is equally asking for it for the exact same reason.  Trust me gents, if she'll do it for you she'll also do it to you, and for the girls if your "guy" will say "yes" to you before he tells the person he was seeing that they're done he'll do the same thing to you at some time in the future.

I have no space in my life for people of either gender who pull this crap for one simple reason: If you'll do this sort of thing to someone who you allegedly love, knowing that it will inflict serious emotional pain upon them when they find out (and they always eventually will find out) what will you do to me who you simply like, assuming I let you beyond the "will drink beer with" barrier, and why would I intentionally expose myself in that regard?  The line between abuse and masochism is pretty basic: foreknowledge and consent!

Oh by the way if you're an innocent victim of this sort of thing (because you didn't know your paramour was pulling that crap) your karmic "free pass" expires when you find out.

It's not my place to decide for you whether masochism is good or bad; that's your call.  But my sympathy and assistance only extends to those who are victims; individuals who choose to be abused have made a choice they have the absolute right to make and I will not interfere (I may chuckle or stare with amazement, however, depending on my mood at the time.)

I believe that we're seeing more of this sort of thing because of the detachment that the Internet and other "faceless" communication provides.  While wider, faster communication networks can be a good thing they also can make it easier to pull this sort of crap and believe you'll get away with it.  Tinder anyone?  I have no quarrel with those who choose to simply enjoy physical experiences so long as nobody is being deceived, but you know damn well that a huge percentage of the time that's just not true.

I believe that karma has a funny way of nailing you when you think you got away with this sort of thing and in fact benefited from it (because you have the boy/girlfriend you really wanted) -- right about then you usually get a nasty surprise.

And that, my friends, is why I dismiss articles like the linked one as sour grapes -- and foolish.  See, this guy seems to think that the "hook-up" generation is simply a one-sided deal with one gender holding the cards, controlling it and benefiting from it at the expense of men.

Nope -- life has never worked that way in the past and it certainly doesn't today.

I repeat my previous position for emphasis: Just do the right thing yourself and partition off those who you observe not doing so in your social circles.  Have a beer with them, sure -- why not?  What's the harm?  Make your small talk and enjoy the evening, but don't make the mistake of thinking that whether friend or more you will be treated better than those who that person allegedly loved.

You won't be.

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