2026-06-21


Horseshit


Rank Propaganda / Thought Policing / World Disordering

Electric / Self Driving cars

Info Rental / ShowBiz / Advertising

Economicon / Business / Finance

  • (PDF) Dallas Fed: 30% of housing cost increase driven by unauthorized immigration

    From early 2021 to early 2024, the U.S. experienced an unprecedented boom in unauthorized immigration, followed by a rapid slowdown beginning in mid-2024. We provide the first systematic empirical assessment of the labor- and housing-market effects of this episode. Using newly available administrative microdata on individual immigrants, we construct measures of net unauthorized immigration at the national and local levels and exploit plausibly exogenous variation across local markets. We find that unauthorized immigrant worker flows (UIWF) increased local employment approximately one-for-one, without significant declines in local wages. These inflows also raised local house prices and rents without expanding housing supply, consistent with a housing demand shock in the face of short-run inelastic supply. Lastly, we find that UIWF reduced labor income per capita, consistent with downward wage composition of the local workforce, and strongly reduced government transfers.

Gubmint / Poilitcks / Law Making

  • From PGP to Mythos: a brief history of export controls that didn't stop anyone

  • America's Founders helped create a world they were not yet ready to live in

    People rightly marvel at the miracle that Jefferson and his longtime rival-turned-friend John Adams both perished on July 4, 1826. Less remembered is that the two otherwise ideologically and dispositionally opposed torchbearers for the flame of '76 had each soured on the fruits of their precious Revolution. "Oh my country," Adams wrote in 1806 to Benjamin Rush. "How I mourn over thy follies and Vices, thine ignorance and imbecility, Thy contempt of Wisdom and Virtue and overweening Admiration of fools and Knaves!"

    Founder disgruntlement was the rule, not the exception (and the exception to that rule was James Madison). "Those of them who lived on into the early decades of the nineteenth century expressed anxiety over what they had wrought," wrote the historian Gordon Wood in The Radicalism of the American Revolution. "Although they tried to put as good a face as they could on what had happened, they were bewildered, uneasy, and in many cases deeply disillusioned." Added the historian Dennis C. Rasmussen in Fears of a Setting Sun, about the only book-length treatment of the subject: "Most of the other leading founders—including figures such as Samuel Adams, Elbridge Gerry, Patrick Henry, John Jay, John Marshall, George Mason, James Monroe, Gouverneur Morris, Thomas Paine, and Benjamin Rush—fell in the same camp." Some of the sources of their souring were one-offs: 18th century conditions that could not be replicated now, such as Napoleon marching through Europe, or just the concentrated creativity of the Founding itself. Others, though, resonate with the political anxieties of today.

Left Angst

Law Breaking / Police / Internal Security