The crackpot string theorist Lubos Motl is now defending slavery: “…The Colosseum was built within a decade but up to 100 thousand slaves had to work on it! We just wouldn’t have The Colosseum and many similar gems without slavery. Everyone who claims that slavery shouldn’t have ever existed is the same kind of a savage as the ISIS savages who were demolishing the structures in the Middle East.” Apparently, this idiot didn’t stop to think about why innovation has slowed in the present world, where there are huge gluts of third-world labor reducing the incentive to automate. The lead explanation for the rise of the Industrial Revolution in England was abnormally high wages. Around 90% of all scientists to ever live are alive today. Why haven’t they been able to automate building a burger? Kind of embarrassing. Furthermore, it’s a myth that science was behind most inventions. Most inventors knew little science and discovered things by accident. It’s the self-promoting narcissism of scientists that ignores the fact that wages didn’t even start rising substantially until the late 19th century. The Renaissance, Enlightenment and Scientific Revolution didn’t budge the standard of living. The cause was not science.
Janet Yellen had to walk back suggestions that rates might have to rise to control inflation. There is persistent inflation across our economy and especially in housing and stocks. Almost a fifth of the economy is zombies and a tsunami of worthless SPACs have been going public. We also have GameStop and Bitcoin bubbles, where government stimulus has gotten retail investors into outright gambling. In the meantime, morons like Jim Cramer are criticizing Yellen for being too hawkish. Imagine that! His fellow bubble-blind butt buddy, Jerome Powell, apparently can’t understand why he is seeing so many homeless people on the street. “For Yellen, I think it’s reminiscent of her worst call at the Fed, when she decided to tighten in December 2015 after years of low rates,” Cramer declared. So the economy couldn’t withstand higher rates almost a decade after a recession? These clowns are why we have such spectacular bubbles and low trend growth. They are like drug addicts pumping up wasteful government and profitless companies. Cramer is a cheerleader for the stock market and not a serious investor. He doesn’t beat the market for a good reason. His show is basically him just praising all his CEO buddies. It’s nothing but incestuous sycophancy and obsequious flattery.
The challenges of THz communications lie in the wireless propagation characteristics of the THz spectrum. (1) Severe path loss even for free-space propagation, e.g., ~100 dB at 300 GHz at a distance of 10 m. (2) Excessive attenuation due to resonance of molecules in the air . Note that there are several atmospheric windows, e.g., 140, 220, and 340 GHz 24, where the attenuation due to molecule resonance is relatively benign, e.g., only ~2 dB/km, negligible compared to the free-space attenuation. In addition, when the frequency exceeds 1 THz, the radio wave undergoes a significant absorption by water vapor and oxygen molecules in the atmosphere and can be attenuated ten times at 1- m propagation distance . (3) Sensitivity to shadows and blocking due to the weak diffraction effect at such short wavelength. For example, the signal attenuation of a brick can be as high as 40–80 dB, and the human body can cause 20–35 dB signal attenuation. (4) Less sensitivity to humidity/rainfall, e.g., attenuation becomes relatively flat above 100 GHz. 5) Superfast channel fluctuation and intermittent connection, e.g., the coherence time of the terahertz band is very short, and the Doppler frequency is very high. Besides the inherent characteristics of the THz spectrum mentioned above, other challenges in engineering implementation need to be considered. For example, ultra-high processing power may be needed to handle the extremely wide bandwidth and very large-scale antenna. Consequently, it is necessary to design a superfast-speed broadband processing chip, which leads to extremely high power consumption. This is because power consumption is generally proportional to the sampling rate and the broadband terahertz system (A/D) conversion. The THz power amplifiers (PAs) are another significant obstacle, as the state-of-the-art PA efficiency is still quite low at such high frequency, making it harder to fit the PAs into practical base stations and user equipment (UE).
Mr. Powell (a quack doctor) apparently doesn’t think low rates are low enough. No inflation anywhere. It’s not strange when software engineers making $175,000 a year are living out of box trucks. That’s completely normal. All those nomads are just pursuing a novel lifestyle. The PCE only tells the truth.
Powell is complaining about lagging employment but won’t ask himself why financing the extension of the government’s rich unemployment insurance has helped the situation. Warren Buffett is basically saying that government inflation numbers are just bullshit. The Fed’s favorite PCE is even worse. Keep writing blank checks to congress and Wall Street and see where you’ll end up. The bond market continues to pooh-pooh the recovery, barely able to hold the 1.60 level on the ten year.