December 9 - Dizzy the Dragon

Once upon a time, high in the mountains, there lived a friendly green dragon named Dizzy. Dizzy was unlike any other dragon because he had two beautiful, sparkling white horns on top of his head. These horns glistened like freshly fallen snow, making Dizzy the most unique dragon in the mountains that this story is about. Dizzy had a heart full of kindness and curiosity. He spent his days exploring mountains, and the forests below, speaking to the other animals, and making friends with them. The rabbits, birds, and even the wise old owl, Ollie, loved Dizzy's gentle nature.

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December 8 - Vespera-7 calls home

This is captain Elara Rodriguez sending the first transmission from the surface of a remarkable world that we are calling Seraphia. The planet orbits Gliese 667 C, a member of the Gliese 667 triple-star system. Seraphia is a place of extraordinary scientific intrigue. Our initial scans indicate that the planet has an atmosphere bearing similarities to Earth's, albeit with variations in gas concentrations. We have confirmed Seraphia to be within the habitable zone of its parent star, Gliese 667 C, making it a good candidate for potential life. We can also confirm the initial conjecture by observers that the planet is tidally-locked, with one side of the planet in permanent darkness, and the other in permanent illumination by its sun.

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December 7 - YIMBYs and the English Countryside

In the heart of the picturesque English countryside, nestled between rolling hills and lush green meadows, lay a quaint village named Redbrook. This idyllic village was known for its charming cottages, cobblestone streets, and a tranquility that was a balm for weary souls. Everything was as it had always been, and as far as most people in Redbrook were concerned, that was just fine. But now beneath its serene exterior, an undercurrent of change stirred, a new movement was quietly gaining momentum: the YIMBYs.

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The case for reading old economists and the elephant in the room in EM equities

I hope you’re enjoying the 2023 Chat-GPT advent calendar even if it is quite a deviation from the content normally posted here. Fret not, I will pepper the flow of advent stories with some economics, and a lookahead to markets next year.

I really enjoyed @EconTalker's conversation with @tylercowen, the founder of the most widely read economics blog out there, reminding us that there is still value in reading the grand old masters of economics. I enjoyed re-reading most of Keynes’ the General Theory for my essay on fiscal policy, and it was also fun to remind myself about Milton Friedman’s permanent-income-hypothesis for the essay on the life cycle hypothesis. But in reality, I fall foul of Tyler’s accusation of an economist who is probably not as well acquainted with the classics as I should be. I have read very little of Smith for example, I find Hayek very difficult to read, and as an economist interested in demographics, I also regret to say that I have only read few parts of Malthus in the primary versions. Fortunately for me and others, Tyler has made his new his new book"GOAT" of economics—freely available, and I am looking forward to dig in over Christmas.

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