The worthies, as I try to stop Chrome from crashing and crashing and crashing...
- The 9th Edition of Cato's Handbook for Policymakers is up. The things that can happen in bigger countries with much larger thinktanks...
- Simply amazing. A Korean provincial government backed the bonds for building Legoland Korea. Then an incoming provincial government wanted to change the terms. And the entire Korean bond market exploded. Remember kids: using the government's balance sheet to back bonds and bring down interest costs doesn't reduce the real cost. It just shifts risk onto the government's books. And sometimes that all goes ridiculously badly.
- Some parts of NZ policy are frustrating because obvious ways of fixing things are ignored. Other parts are frustrating because they seem to be unfixable. Consider the current messes in immigration policy.
- The folk economics of housing is folked up. "As Larry Summer said, "There are idiots. Look around.""
- It is illegal to access the updated vaccines in New Zealand and the government is ignoring advice around masks.
- One potential conclusion from the latest from Arthur Grimes: allow unlimited inbound migration of happy people.
- Environmentalists oppose NZ biofuel mandates. Biofuel mandates never make sense, but they especially don't make sense when the sector's covered by an ETS with a binding cap.
- Piles of detail on fights over consenting on the Waiau River.
- Government just doesn't seem all that good at managing pay structures. Also, if the government wants more nurses, requiring unpaid hospital placements like this as part of the training for new nurses might not be helping.
- Matt Levine's rollercoaster ride through FTX.
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