Quotulatiousness

January 16, 2017

100 years ago today

Filed under: Americas, Britain, Europe, Germany, History, Military, USA, WW1 — Tags: , , — Nicholas @ 09:26

From the Facebook page of The Great War:

On this day 100 years ago, a coded telegram was sent by German foreign secretary Arthur Zimmermann to German Ambassador to Mexico, Heinrich von Eckardt. In this telegram, Zimmermann instructed von Eckardt to offer Mexico a military alliance and financial support against the United States should they not remain neutral. This was a possibility since Germany was about to unleash unrestricted submarine warfare by February 1, 1917.

To understand this telegram, it is important to understand that talks about military cooperation and even a military alliance between Mexico and the German Empire had been going on since 1915 already.

The telegram was sent via the American undersea cable since the German cable was interrupted by the British when the war broke out. US President Woodrow Wilson had offered the Germans to use their cable for diplomatic correspondence. What neither Wilson nor the Germans knew: The cable was monitored by the British intelligence at a relay station in England. Furthermore, the British codebreakers of Room 40 had already cracked the German encryption.

The biggest challenge for the British now was to reveal the content of this telegram without admitting that they were monitoring the cable while ensuring it had the desired impact.

Why do millennials earn some 20% less than boomers did at the same stage of life?

Filed under: Economics — Tags: , , , , — Nicholas @ 03:00

Tim Worstall explains why we shouldn’t be up in arms about the reported shortfall in millennial earnings compared to their parents’ generation at the same stage:

Part of the explanation here is that the millennials are better educated. We could take that to be some dig at what the snowflakes are learning in college these days but that’s not quite what I mean. Rather, they’re measuring the incomes of millennials in their late 20s. The four year college completion or graduation rate has gone up by some 50% since the boomers were similarly measured. Thus, among the boomers at that age there would be more people with a decade of work experience under their belt and fewer people in just the first few years of a professional career.

And here’s one of the things we know about blue collar and professional wages. Yes, the lifetime income as a professional is likely higher (that college wage premium and all that) but blue collar wages actually start out better and then don’t rise so much. Thus if we measure a society at the late 20s age and a society which has moved to a more professional wage structure we might well find just this result. The professionals making less at that age, but not over lifetimes, than the blue collar ones.

[…]

We’ve also got a wealth effect being demonstrated here. The millennials have lower net wealth than the boomers. Part of that is just happenstance of course. We’ve just had the mother of all recessions and housing wealth was the hardest hit part of it. And thus, given that housing equity is the major component of household wealth until the pension is fully topped up late in life, that wealth is obviously going to take a hit in the aftermath. There is another effect too, student debt. This is net wealth we’re talking about so if more of the generation is going to college more of the generation will have that negative wealth in the form of student debt. And don’t forget, it’s entirely possible to have negative net wealth here. For we don’t count the degree as having a wealth value but we do count the loans to pay for it as negative wealth.

“Crafting. Needs. To. End. It is ruining gaming”

Filed under: Gaming — Tags: , , — Nicholas @ 02:00

John Ringo posted this on Facebook, and while I don’t play the particular games he references, I’m also finding that in-game crafting (which seemed like such a cool idea when I first heard of it) is really just an extended PITA:

(more…)

QotD: The process of de facto legalization of marijuana in Vancouver

Filed under: Cancon, Economics, Law, Quotations — Tags: , , , , — Nicholas @ 01:00

Despite the fact that I don’t smoke pot — because if I do I will be asleep in approximately three minutes — I have long advocated complete legalization. Largely for libertarian reasons but also because the criminal law is essentially unenforceable. But the medical marijuana regulatory scheme interests me as a grand example of government getting something entirely wrong.

The original medical marijuana regulations allowed people to buy from a single supplier or grow their own or designate a grower. While the system was far from perfect, and found to be unconstitutional, it had the advantage of regulating with a very light hand. But, oh Heavens, there was “leakage”. Medical pot was not always only used by medical users. Yikes.

So Health Canada came up with a regulatory scheme which was going to licence grower/distributors and put the users and their growers out of business. Enter Big Green and a bunch of promoters who sold shares in publicly listed companies based on the new regulations. The promoters made a lot of money using a simple story: there were 45,000 medical pot users in Canada (projected to grow to 450,000 users in a decade) who each used about 3 grams a day and who would have no choice but to pay between $8 and $15 a gram for their “medicine”. You do the math.

To my not very great surprise, people used to paying $0 to $5.00 a gram did not rush to sign up. And, very quickly, at least in Vancouver, pot shops – for registered users only of course – began to spring up. Becoming a registered user was not tough. As the 5th Estate guy discovered, telling a naturopath a charming story about stress and sleep disturbance over Skype gets you your registration. At which point you are free to buy. (I note the 5th Estate did not ask the pot shop owners where they were getting their pot – which is a rather good question because it is certainly not from the licenced growers as they are not allowed to sell except by mail order.)

As anyone who has lived in Vancouver knows, the Vancouver Police Department has better things to do than bust dispensaries. Plus, given the injunction halting enforcement of the Health Canada regs, it is not obvious what they would bust the dispensaries for that would have a chance of getting past the Crown. But even if they did bust the dispensary and even if the Crown brought charges, it is pretty difficult to see how a judge could find a person guilty who was selling to a registered user.

The problem is that the boffins at Health Canada have not quite figured out that their regulations are assuming a world which does not exist. First, they assume that people want to smoke “legal pot”. That might be true if police forces were in the habit of kicking down doors to arrest people smoking pot at home but, I fear, that hasn’t happened in years. (It may occasionally occur as a means of harassment but the probable cause issue is usually sufficient to kick the charges.)

Jay Currie, “Gone to Pot”, Jay Currie, 2015-06-15.

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