Apple, Foxconn, Wisconsin

After reading Janesville, I couldn’t help but be interested in this perfectly titled piece in The Atlantic.

Numbers to ponder:

“It has up to $3 billion in tax breaks, to be passed and provided by the state government. Those kinds of tax incentives can get a manufacturer to plant a factory in a given location—but generally at a significant cost to the state budget, and without doing much to help the economy overall.”

What does $3b mean?

“The Washington Postestimates that the breaks could cost the state as much as $230,700 per job created. Tim Culpan at Bloomberg Businessweek puts it at $1 million per job, enough to buy every man, woman, and child in Wisconsin a new iPhone.”

So the margin of error is only $770k/per job created. I recommend the rest of the succinct piece.

What to Do When Stocks are Pricey

Insightful blog post by Carl Richards titled “You’re No Coward If You’re Keeping Some Money Out of Stocks”.

What should “some” be as a percentage? Conventional investment wisdom is subtract your age from 110 or 100 and invest that much in stocks.

Better yet, think about risk like Richards:

“You see, I hate losing money in investments that are outside my control. It ties me up in knots and distracts me from just about everything. So awhile ago, when I moved some money out of a 401(k) plan into my retirement account after a job change, I left it in cash.

I told myself that I was fine with missing out if the market continued to go up. But I wasn’t fine with investing this pile of cash just in time to get my head taken off in a big, scary market drop. And guess what? That was and still is true. So, I’m fine sitting in cash earning 0.16 percent or whatever the rate might be. I just don’t want to lose.

This decision has cost me in paper gains that I might have achieved, given how well the stock market has done since that decision, but I don’t care. I don’t see it as a real cost. Instead, I see it as an investment in my sanity and my human capital.

The fact that I didn’t have to worry about losing money in that area of my life allowed me to feel comfortable taking risks in other areas. I’ve started two or three new businesses and moved my family to New Zealand. The risks I have taken have provided, and will continue to provide, a much higher return than what I might have received if I remained fully invested in the markets.”

Haim is Contributing to the Greater Good

I lent my iPod to Alison once.

She ended up sharing its contents with my sissy who got a big kick out of my fondness for female artists of a folky/pop/R&B persuasion. I’m secure enough in my maleness to say I dig me some Karen Carpenter, Jill Scott, Abigail Washburn, Emmylou Harris, Stevie Nicks, Tracy Chapman, Sade. I pity the faux-macho who are too insecure to embrace the beauty of female voices.

Which brings us to Haim, who I just learned about as a result of this lengthy review of their second album, Something to Tell You. Learning of my discovery on her visit home last week, Alison has been helping me catch up. Their voices are excellent, but I’m even more enamored by their stage presence.

Carl Wilson, Slate’s music reviewer, follows the music scene much, much more closely than me. As a result, I had to read Wilson’s review a couple of times to make sense of it. From the odd opening reference to Haim as “the smart set’s favorite white pop band”, I alternately really liked and disliked his analysis.

I liked his description of their newest vid.

“This emphasis on musicianship rebukes the stubborn stereotype of the “girl band” as an artificially assembled group of sexy singers. Haim (pronounced “Hi-um”)* doesn’t have to dress up and do choreographed dance routines. The sisters are not ornaments—they’re the music makers. (Of course, it’s the music business, so they’re still conventionally attractive. Though that also reinforces that they’re making a choice.) So, in the video, they move only when they feel the music, sing only when it seems expressive. Got it.”

I disliked his thesis.

“Every pop moment is embedded in history, and history is embedded in every pop moment. Thinking through Something to Tell You, I’m puzzled by how Haim has gotten better but seems worse than in 2013–14. The reason has to be that in the late Obama era, when pop-chart populism still seemed democratizing and progress was on the upswing, Haim’s sisterhood variation on the theme felt liberating. That populism now feels double-edged, so the songs don’t quite stick. At the tail of the “Want You Back” video, the dance routine falls apart, and the trio wanders off laughing as the camera pulls away. The cathartic feeling dwindles back to mere charm, a shrugging amiability. It works as a reclamation of the band’s autonomy from pop imperatives, but it’s also like what happened here didn’t matter. It’s just another perfect day in carefree, privileged L.A.”

Mere charm, a shrugging amiability, what happened here didn’t matter, it’s just another perfect day in carefree, privileged L.A. That last phrase strikes me as especially odd. What makes L.A. carefree and privileged, the fact that they closed Van Nuys Boulevard for the shoot? And why is Haim responsible for, or even complicit in, L.A.’s supposed carefree, privilege?

Maybe Wilson is too deep for me, but the way I interpret his “mere charm, a shrugging amiability, what happened here didn’t matter” sentence is that art must be political today. Meaning Haim has to take some sort of a stand on pressing issues of the day. I beg to differ because I interact regularly with a lot of young women who are extremely self conscious, sometimes to the point of being intensely anxious and/or clinically depressed.

When I watch the “Want You Back” vid and this one,

the Haim sisters come across as joyfully unencumbered. Carefree is absolutely right. Given some young women’s mental health challenges today, that is gift enough.

Every one of us struggles, to varying degrees, with being self-conscious. The less self conscious among us inspire us to be more authentic, to make art, to dress, to write, to live, however we feel.

I’ll take more unencumbered joy with my art than policy pronouncements any day.

* I LOVE hate it when I am right and Alison is wrong. DIG the hypen Al, two syllables!** Let your friends down easily.

** Exclamation point = Millennial flourish.

Friday Assorted Links

1. The British Open has always been my favorite golf tournament because of the history, creative shot making, hellish bunkers, cold wind and rain, and the gorse of course. I’m going to miss it.

Englishman Nick Faldo, a three-time Open champion, said it is no longer correct to call it the Open Championship. “Now it’s ‘The Open. In another five years, it will just be called ‘The.’ ”

2. Tyler Cowen on his writing process.

“I try to write a few pages every day. I don’t obsess over the counting, I just do as much as I can and stop before I feel I am done, so I am eager to start up again the next day, or after lunch. That to me is very important, not to write too much in a single day, but to get something written every single day.”

3. Principals are loath to give teachers bad ratings.

“When principals are asked their opinions of teachers in confidence and with no stakes attached, they’re much more likely to give harsh ratings, researchers found.”

4. So this is why eldest daughter chooses to live in Chicago.

“Another interesting trend is that all cities in Southwest, from Texas, New Mexico, and Arizona, are taco cities. Burrito cities are mostly from the Midwest and West. California has cities in both categories. It appears that SoCal prefers tacos (LA and San Diego), while NorCal prefers burritos (San Francisco, Sacramento, San Jose).”

Clearly, burritos > tacos, so I need to visit Indianapolis and San Fransisco.

5A. Trumpcare collapsed because the Republican Party cannot govern.

“In truth, it was never possible to reconcile public standards for a humane health-care system with conservative ideology. In a pure market system, access to medical care will be unaffordable for a huge share of the public. Giving them access to quality care means mobilizing government power to redistribute resources, either through direct tax and transfers or through regulations that raise costs for the healthy and lower them for the sick. Obamacare uses both methods, and both are utterly repugnant and unacceptable to movement conservatives. That commitment to abstract anti-government dogma, without any concern for the practical impact, is the quality that makes the Republican Party unlike right-of-center governing parties in any other democracy. In no other country would a conservative party develop a plan for health care that every major industry stakeholder calls completely unworkable.”

5B. The Republican healthcare meltdown.

“The larger lesson of this sorry episode is that nobody—not McConnell, or Trump, or House Speaker Paul Ryan—can resolve the contradictions of today’s Republican Party. Once the political arm of the Rotary Club and the affluent suburbs, the Party is increasingly one of middle-class and working-class voters, many of whom are big beneficiaries of federal programs, such as Medicaid and the Obamacare subsidies for the purchase of private insurance. But the G.O.P. remains beholden to its richest, most conservative donors, many of whom espouse a doctrine of rolling back the government and cutting taxes, especially taxes applicable to themselves and other very rich people. It was the donors and ideologues, with Ryan as their front man, who led the assault on the Affordable Care Act.”

5C. Trump’s clueless abdication of presidential responsibility.

“Predictable and despicable” are more apt than “clueless”.

“The first duty of any President is to protect the welfare of the citizenry. In blithely threatening to allow the collapse of the Obamacare exchanges, through which some twelve million Americans have purchased health insurance, Trump was ignoring this duty. Arguably, he was violating his oath of office, in which he promised to ‘faithfully execute the office of the President of the United States.'”

The Age of Self Promotion

When a person’s image and/or reputation is inflated, sometimes people lament, “Big hat, no cattle.” A lot of people today, like the President of the United States, excel at promoting themselves more than anything else. Thanks to the public’s allegiance to valueless media, we’re making a mockery of merit.

A case study. My July morning routine entails working out, eating breakfast, making a green tea latte, and then settling in to the day’s Tour de France stage which I spend about thirty minutes fast forwarding through.

This year there are three cyclists from the U.S. in le Tour, meaning about 1.5% of the total peloton. One of the U.S. riders is barely surviving the mountain climbs, just making the maximum time cuts. But because we’re living in the Age of Self Promotion, that same rider is starring on the U.S. television coverage, dropping daily broh-heavy “behind the scenes” video segments that add nothing to the event. He seems likable enough because of a goofy personality. And maybe the fact that both of his parents were professional cyclists and he’s bounced back from a horrific accident a few years ago contribute to some of his faux-fame as well.

But even accounting for those extenuating circumstances, the fact that he’s in damn near last place would only matter if we were in an Age of Meritocracy, but we’re not. Increasingly, we’re surrounded by people with really, really big hats. Which makes it tough to see the front of the race.