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Lance Bachmeier

@lance.mastodon.social.ap.brid.gy
26 followers 19 following 200 posts

Professor of economics. Macroeconomics, energy, time series, Linux, programming, sports, Kansas, Emacs, complaining, shitposting. Christian, but not the post-Jesus […] 🌉 bridged from ⁂ mastodon.social/@lance, follow @ap.brid.gy to interact

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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 16/10/2026
Challenging my cat to a duel always ends with me bleeding
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 16/10/2026
While the sports news is filled with stories about Man City breaking the financial sustainability rules, I'm watching top US universities spending themselves into bankruptcy on sports, in most cases making Tottenham's ROI look good
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Reposted by Lance Bachmeier
Christian Zimmermann @czimm-economist.sciences.social.ap.brid.gy · 16/10/2026
Economics achieved the impossible: a search for "covid" yields 100,000 results in RePEc. One in 55 indexed works. ideas.repec.org/search.html #dailyRePEc #economics
ideas.repec.org
Search on IDEAS
IDEAS is a central index of economics research, including working papers, articles and software code
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 15/10/2026
Today's @profgmarkets Paul Kedrosky on Anthropic: "we have a pretty strong sense that more than 80% of the revenues are perhaps eight companies" "...since Trump took office again since he returned to the White House in real terms American wage growth the average American wage growth is zero […]
mastodon.social
Original post on mastodon.social
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Reposted by Lance Bachmeier
Aaron Sojourner @aaronsojourner.org · 14/10/2026
Do you remember what month POTUS started Gulf War 3, which triggered inflation in the price of energy and eroded the value of real wages?
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 14/10/2026
Anthropic may be worse than Meta. Their bullshit intentional misleading of people never ends. Their model is doing a mathematical calculation. They're hoping they can convince people it's more than that […]
mastodon.social
Original post on mastodon.social
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Reposted by Lance Bachmeier
Aaron Sojourner @aaronsojourner.org · 14/10/2026
Average hour of work affords American employees 0.7% less purchasing power in Sept than a year prior, per new @usbls.bsky.social data on wage growth and price inflation today. #NumbersDay www.bls.gov/news.release...
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 13/10/2026
A bit of useless trivia about Robert Hall, who won the Nobel Prize today. In 1965, he wrote a programming language TSP (time series programming) as a grad student. 61 years later, it's still a popular piece of software but is sold under the name EViews.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 12/10/2026
"The bull market turned 4 years old on Monday. Investors say reaching a fifth birthday could be challenging" 4 years if you ignore the two bear markets over that time span?
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 29/09/2026
In case you can't read what I boosted: Anthropic's 2025 financials were just revealed: $6B in revenue $8B in operating losses $42B in net losses
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 28/09/2026
Make that two bugs. Just found another, and we're not talking about typos that would be easy to catch, either.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 28/09/2026
I only looked at the comments because I wanted to see how bad they were. BTW I found a bug in Opus 5.5 code this morning (one of several since it was released, and I don't even use it much).
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 28/09/2026
Sad that HN has reached this level of trash. Article: blog.alexewerlof.com/p/coding-is-no… "If you’ve been following my work, you know that I was an early adopter of not only using LLM-powered coding tools, but building my own harness, teaching these topics and building […]
mastodon.social
Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 28/09/2026
RE: mastodon.social/@Carl_Zimmer/117345… Reminder: Alex Karp was clear that this would happen: "THE CLIENTS HAVE TO BE ABLE TO ASK AND ANSWER A VERY BASIC QUESTIONS. ARE YOU KEEPING THE DATA? ARE YOU GOING TO ENTER OUR BUSINESS?" www.youtube.com/watch?v=0A3sGymV6kY […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 28/09/2026
By my calculations, that's a 12% increase in current GDP just to cover the cost of AI, not counting the external costs. According to Table 1, the AI buildout would be 50% larger as a share of GDP than the railroads in 1870-1890, which was the second largest capital expenditure. The 1996-2003 […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 28/09/2026
"the 2025–2032 buildout requires approximately $3.7 trillion in annual revenue by 2032 to earn a 10% unlevered return at a 50% operating cash-flow margin" Financing the AI Buildout Stijn Van Nieuwerburgh (Columbia Business School) […]
mastodon.social
Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 28/09/2026
AI coding bros complaining about needing to keep up with the best way to prompt new models to get the results they want. The next step in the evolution of AI coding will be construction of a precise syntax that lets them express their desired program unambiguously.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 25/09/2026
This was a good read: www.possibilityspace.org/blog/posts… "generative AI is not AI in the sense of the field I describe above" "Everything that has been built on it, though, is 99% scale up. Modern AI products are not scientific achievements, they are, at best, engineering […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 25/09/2026
China on AI: 84% excited, 72% trust it, very strict AI regulation America on AI: 38% excited, 32% trust it, weak (or non-existent) AI protections I imagine the US AI labs having a business model of spreading propaganda to scare people out of certain careers might have something to do with that […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 25/09/2026
People Training OpenAI’s AI Fired for Using AI to Train the AI www.404media.co/people-training-ope…
404media.co
People Training OpenAI’s AI Fired for Using AI to Train the AI
OpenAI has thousands and thousands of contractors helping improve the company's AI models. Multiple contractors have been fired for using AI to train the AI.
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Reposted by Lance Bachmeier
Christian Zimmermann @czimm-economist.sciences.social.ap.brid.gy · 25/09/2026
FRED Blog: Estimating the risk of recession in the US fredblog.stlouisfed.org/2026/09/est…
fredblog.stlouisfed.org
Estimating the risk of recession in the US
## The takeaway A new dataset in FRED provides the monthly probability the US economy is in recession. The latest data, for August 2026, show that probability was 0.08%. ## The data FRED has added probability estimates of the US economy being in recession. The dataset comes from RecessionRisk.com and was developed by economists Francesco Furno and Domenico Giannone. Our FRED graph above shows these monthly median probabilities since January 1980. Probability values range from 0% to 100%, where values closer to 100 indicate higher probability of recession. Because the calculations incorporate timely indicators, these estimates are available on the first business day after the reference month closes. For example, the recession risk value for August 2026 (0.08%) became available on the first business day of September 2026. The shaded areas in the graph represent the start and end dates of recessions reported by the National Bureau of Economic Research (NBER) Business Cycle Dating Committee. This data visualization feature can be turned on and off in every FRED graph by following the steps described here. ## The interpretation The overlap between the RecessionRisk.com data and the NBER data is generally close. The timing of spikes in the estimated probability of recession broadly coincide with the dates announced by the NBER for turning points in the US business cycle from expansion to contraction. (That is, _the occurrence of recessions_.) However, several probability spikes, such as the ones around October 1998 and March 2023, did not develop into actual recessions. ## The methodology The probability estimates are calculated using a statistical model that combines two indicators. The first measures broad economic conditions, and the second measures financial market stress: * Institute for Supply Management’s Purchasing Managers’ Index (PMI) for manufacturing, which is a survey of business conditions * The Composite Indicator of Systemic Stress (CISS) reported by the European Central Bank, which tracks stress across bond, equity, money, foreign exchange, and financial intermediary markets Details about the methodologies are available here. **How this graph was created** : Search FRED for and select “Recession Probability for the United States, Median Estimate.” Suggested by Diego Mendez-Carbajo.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 24/09/2026
RE: mstdn.social/@hkrn/1173274243341058… They invited him because they think it's wrong to take a position on racism. They're running a Ruby conference. So, did he actually talk about Ruby? I asked Gemini > How much of this talk was about Ruby? > The speaker touches upon Ruby and […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 22/09/2026
If GPT 6 Luna pricing ($0.10/$0.50) is profitable, OpenAI might have a chance at survival. Sonnet is still at $2/$10 which is best described as delusional at this point.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 19/09/2026
"If math is more than proof, we need to better celebrate the rest of it" I will admit that I have never thought of math as exclusively proofs
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 15/09/2026
The AI boom must be over: A new Java release is at the top of Hacker News and Linux from Scratch is on the front page
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 09/09/2026
RE: mastodon.social/@nixCraft/117241250… What's a puzzle about this is that Omarchy isn't even a Linux distro, it's a different Linux distro with a few minor additions. They could have been giving $3 million a year already to the real distros that they used to build their […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 08/09/2026
RE: mstdn.social/@hkrn/1172359702063834… Highly unoriginal take here, but how is this surprising? OpenAI is literally built on taking the work of others. This is no more suprising than a crypto influencer stealing money from your wallet.
mstdn.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 05/09/2026
Am I the only one that doesn't care at all about college football this year? The thing where guys fail to be actual pros so they go back to college makes college feel like nothing more than a second-tier pro league. Players change schools every year, so they're just hired guns that aren't good […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 04/09/2026
It's not just that DHH holds these views. It's that he's working to normalize the beliefs of the KKK as acceptable political views, the same as one's position on taxation or school spending.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 04/09/2026
This is a good post if you don't know just how awful DHH is jakelazaroff.com/words/dhh-is-way-w… The guy publicly supports remigration. I say this because the leadership of 1Password defended the decision to give him $300k: "You believe in your heart that DHH is evil […]
mastodon.social
Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 03/09/2026
This is a good example of why I don't want any connection to the Democratic party. They're not smart enough to tie their own shoes much less be a viable political party.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 03/09/2026
Shout out to Bernie Sanders for using Twitter as his primary social media outlet (no presence in the Fediverse) In unrelated news Elon Musk starts spending his midterm election millions, revealing his key Senate targets […]
mastodon.social
Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 03/09/2026
RE: mstdn.social/@hkrn/1172085521313516… Most of the new AI stuff is just the old stuff a little better. The insane speeds Cerebras is getting is one of the few interesting things in this field.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 02/09/2026
@t0nyyates.bsky.social I blocked him back in my Twitter days because it was obvious the direction he was taking things.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 02/09/2026
"Microsoft has removed its free version of Copilot Chat from Word, Excel, Teams, PowerPoint and OneNote for large organizations like K-State with more than 2,000 users." Good way to start the day
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 31/08/2026
@czimm_economist Reminds of this old story www.folklore.org/Negative_2000_Line…
folklore.org
Folklore.org: -2000 Lines Of Code
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 31/08/2026
I've had grad students that were "productive" using copy and paste. One example is out-of-sample forecast evaluation where they copy and paste the same code but change the end date of the sample each time. You can crank out the lines of code when you have no idea what you're doing. "I'm an […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 30/08/2026
I read their comments and I think about the scene in Forrest Gump where his mom sees his IQ score
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 30/08/2026
Posts by the AI zealots feels like they should end with make like a tree and get outta here
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 29/08/2026
Good luck trying to convince folks that data center opposition is Chinese propaganda yro.slashdot.org/story/26/08/28/211…
yro.slashdot.org
Is China Secretly Fueling America's Data Center Rage? - Slashdot
alternative_right shares a report from Axios: Roughly 200 accounts from a suspected Chinese bot farm have quietly tried to influence Americans to oppose AI data centers on social media, X said Thursday night. The X Safety team probed suspected Chinese accounts involved in influence operations and i...
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 27/08/2026
We're battling above-target inflation, but at least we have people in Washington focused on the important problems "Trump signs order to rename Lake Ontario ‘Lake America’ amid Canada trade war"
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 27/08/2026
“But I believe now is the time to act...I believe that we’ve been in an inflationary situation for more than five years. It’s been running well above our target. I don’t see any restriction in policy when I look at financial conditions and when I talk to market participants.” […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 27/08/2026
Someone: [Posts question] Same person: [Posts again to complain about the low quality of answers] Me: [Block that person] If I wanted to read crap like that, I'd have stayed on Twitter
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 26/08/2026
"It was frequently argued in 1973 that the oil price shock was transitory" Blanchard and Fischer (1989) PCE inflation is currently at 3.6% and we're told the oil shock and tariff shocks are transitory. And we have a Fed that, apparently for political reasons, prefers 4% as their inflation […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 26/08/2026
Update: GLM-5.3-Flash is on Vercel AI Gateway at $0.08/$0.25
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 26/08/2026
Background: Opus price is $5/$25 and Sol is $4/$20. We're talking US model prices 30-50x the Chinese models.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 26/08/2026
At least two new model releases today (maybe I missed some). Qwen3.8-Flash $0.16/$0.47 GLM-5.3-Flash $0.15/$0.50 Factor in caching, and a $20/month subscription is looking really expensive, API pricing paid on the enterprise plans is insane. It's hard to see how Anthropic and OpenAI have a […]
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Original post on mastodon.social
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 26/08/2026
I hadn't used Perplexity before today. I only recently found out I could use it through the Vercel AI Gateway. Did a few tests, returned what I thought were good results for academic economic research.
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 25/08/2026
RE: mstdn.social/@hkrn/1171570916165029… Is Kevin Hassett using his cubic model to make new predictions?
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Lance Bachmeier @lance.mastodon.social.ap.brid.gy · 24/08/2026
AI is reading news stories about the US government, depressed that humans have chosen that over AI.
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