1/Politics thread time.

To me, the most important aspect of the 2018 midterms wasn't even about partisan control, but about democracy and voting rights. That's the real battle.

2/The good news: It's now an issue that everyone's talking about, and that everyone cares about.

https://t.co/ipQ7Y0JCnG
3/More good news: Florida's proposition to give felons voting rights won. But it didn't just win - it won with substantial support from Republican voters.

That suggests there is still SOME grassroots support for democracy that transcends partisanship.

https://t.co/jHHieSkzTg
4/Yet more good news: Michigan made it easier to vote. Again, by plebiscite, showing broad support for voting rights as an issue.

https://t.co/ffEwTP2SPq
5/OK, now the bad news.

We seem to have accepted electoral dysfunction in Florida as a permanent thing. The 2000 election has never really ended.

https://t.co/auFaCR7WvH
6/Even worse news: What Brian Kemp did in Georgia was REALLY bad.

https://t.co/Bed8VRpopn
7/Kemp's success at engineering a victory for himself, through voter roll purges and other techniques of vote suppression, bodes ill for future elections, especially presidential elections.

The big worry is that it functioned as a trial balloon.
8/The worst news, of course, is Trump's continued lies about illegal votes - basically de-legitimizing democracy itself in the eyes of his base.

https://t.co/qcPP0wGGDR
9/The struggle over voting rights is important not just because democracy itself is important, but also because it tells us something about the future of race and partisanship in America.
10/After the 2012 election, the GOP had a big debate about whether to reach out to Hispanic voters or take a hard anti-immigration line - which would effectively represent a strategy of using xenophobia to try to win a bigger share of the white vote.
11/That debate was resolved when Trump won the 2015 primary.

The GOP abandoned hope of winning over nonwhite voters, and went with the "Sailer Strategy": https://t.co/jBH0K4JUv4
12/But since whites are a shrinking % of the electorate, the Sailer Strategy implicitly requires increasing vote suppression, gerrymandering, etc. to reduce the electoral power of nonwhite voters.
13/It was clear from the moment Trump beat Rubio and Jeb that electioneering would be increasingly important for the GOP electoral strategy going forward.

Which is why voting rights have become such a central issue.
14/Therefore, the voting rights issue isn't just about democracy.

It's about breaking the Sailer Strategy, and putting to bed the idea that electioneering can make nonwhite voters disappear.
15/Of course, the Sailer Strategy will probably be broken in time anyway by the desertion of Millennial and Gen Z white voters, simply because Trumpism is so horrible.

https://t.co/p3vGgC3A1D
16/But ensuring voting rights for all is the most important thing we can do to prevent our country from degenerating into a faux-democratic hell of ethnic bloc voting, racial division, spiraling distrust, and dirty electoral tricks.

(end)

More from Noah Smith

When Republicans started to believe in racial bloc voting - when they stopped believing that nonwhite people could ever be persuaded to vote Republican - they started to see immigration as an invasion.

This explains why immigration is now at the center of partisan conflict.


Of course, the belief in ethnic bloc voting becomes a self-fulfilling prophecy.

When a slight Dem tilt among Hispanics and Asians caused the GOP to turn against them, Hispanics and Asians shifted more toward the Dems. Etc. etc. A self-reinforcing cycle.

Bush's 2006 amnesty attempt, and the 2013 intra-GOP fight over immigration reform, were two moments when the GOP could have turned back to the approach of Reagan, and courted Hispanics and Asians.

But they decided against this, and...here we are.

What will disrupt this bad equilibrium, and save American politics from being an eternal race war?

Either:
A) More white voters will grow disgusted with the GOP approach and defect, or
B) The GOP will find some non-immigration-related issues to attract more Hispanics and Asians.

As long as both parties see elections in terms of racial bloc voting - where the only way to win is to increase turnout among your own racial blocs or suppress turnout by the other party's racial blocs - American politics will not improve, and the country will decline.

(end)
1/I'm thinking about the end of Apu in the context of the national debates on immigration and diversity.


2/Apu's presence in Springfield represented a basic reality of America in the late 20th and early 21st century: the presence of nonwhite immigrants.

3/As Tomas Jimenez writes in "The Other Side of Assimilation", for my generation, immigrants from India, China, Mexico, and many other countries aren't strange or foreign. On the contrary, they're a

4/But that America I grew up with is fundamentally ephemeral. The kids of immigrants don't retain their parents' culture. They merge into the local culture (and, as Jimenez documents, the local culture changes to reflect their influence).

5/Simpsons character don't change. But real people, and real communities, do. So a character who once represented the diversity that immigrants brought to American towns now represents a stereotype of Indian-Americans as "permanent foreigners".

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A THREAD ON @SarangSood

Decoded his way of analysis/logics for everyone to easily understand.

Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen

1. Keeps following volatility super closely.

Makes 7-8 different strategies to give him a sense of what's going on.

Whichever gives highest profit he trades in.


2. Theta falls when market moves.
Falls where market is headed towards not on our original position.


3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result

He believes in a market operator, if market mover sells volatility Sarang Sir joins him.


4. Theta decay vs Fall in vega

Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.