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Kenneth Duda
Works at Arista Networks, Inc.
Attended Stanford University
Lives in Menlo Park, CA
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Kenneth Duda

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Cisco's behavior has been very disappointing.
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Thank you, Ken, for writing this blog. It gives us some insight on the legal battles, and explains how far fetched and unreasonable these claims are.

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Kenneth Duda

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Finally, an application for the Internet that's even better than cat videos.
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I have never been confused with Ken before, but am honored.  Please submit all feature requests to the github repo.
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I cannot click +1 enough times.
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It's an entertaining movie, though. I've seen it. And for the average person, it contains a surprising lesson: that people who are generally trusted to be smart can be really really stupid.
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This is such a disaster. We are willfully depriving ourselves of the fruits of our most productive cities, simply by refusing to develop them properly. All of the increased return to capital, and fall in the return to labor, in the last 20 years is due to our refusal to build. And, the amazing thing is, if land owners were allowed to develop, they'd actually make even more money, even as a larger number of people pay less in rent. Add to that the fact that the Fed mistook increasing rents as a sign of excess money in 2006 and caused the great recession as a result... everyone mis-identifying rising land values as a "bubble" when it was really the natural consequence of persistent rent increases in a low-interest-rate environment... what a tragedy. When will our policy makers figure this out ???
Here are a few graphs from the Zillow data sets that I have been playing around with. These are for the largest 20 metro areas (MSAs). First is median income, relative to the US median. Second is median income after rent, r...
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In the bay area, it's very well known that many cities like mountain view are adding office space but no residential space, then wonder why land prices skyrocket.
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Yglesias, on target as always. It's incredible how easily we put up with bad monetary policy.
If the president tried this, people would freak out. But it's the Fed.
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Oy, Southwest in-flight wi-fi overlays a goofy flight status bar on all http web pages.  Thank goodness for https.
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Kenneth Duda

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What really caused the great recession. Critical to understand, so we can avoid the next one.

See also http://macromarketmusings.blogspot.com/2016/01/revisiting-causes-of-great-recession.html.

The bursting of the bubble did not cause the recession. The Fed did.
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If you are really interested in the case for more gun control, this Scott Alexander post cannot be beat.  (Spoiler: it's weaker than most liberals think.) 
[Epistemic status: I think I probably wrung the right conclusions out of this evidence, but this isn’t the only line of evidence bearing on the broader gun control issue and all I can say is …
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sad :(
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When interest rates go up, they go down?

http://www.dispatch.com/content/stories/business/2015/12/27/1-mortgage-rates-dip-in-defiance-of-fed-rate-hike.html

Well, yes. When the Fed "raises rates" (meaning, increases the Fed Funds target), actual interest rates (i.e., what actual people pay to borrow) can go up or down, based on many factors, including at least market expectations of future interest rates, inflation, and income (NGDP). Even worse, lower rates may not be stimulative at all, but can be a sign of weakness, a sign that borrowers and lenders are anticipating lousy income and low inflation and even lower interest rates in the future. Add to that the fact that lower market rates means lower opportunity cost of holding base money, which reduces its velocity, which reduces M*V = NGDP, meaning lower rates can be contractionary... and ... one should really question one's priors about "transmission mechanisms", especially the idea that a lower Fed Funds target stimulates AD by shifting future consumption into the present. Sure, that's one thing that could happen. But another possibility is that people become more pessimistic, so even as you increase M to lower I, V falls even faster than M increases, so M*V drops. Where have we seen that before?

I think the reality is that the transmission mechanism of monetary policy is never a simple/concrete thing. Monetary policy's transmission mechanism is always expectations and only expectations. What does any monetary policy action say about future monetary policy, and what does that imply about future paths of inflation, income, interest rates, exchange rates, asset values, etc. Those expectations drive agents' spending decisions today. That's the transmission mechanism.

Does anyone have another explanation for how raising the fed funds target could cause mortgage rates to fall? Or would you place on any bets what would happen to mortgage rates if the Fed hiked IOR another point? Another five points? I would bet that if IOR were 5%, mortgage rates would drop further. Banks would lend to consumers at a lower rate than the Fed would pay them, because they would anticipate the Fed reversing policy in a hurry, and would rather lock in 3% for 30 years than take 5% overnight for a week or quarter, and then get nothing after that. I could be wrong, but I might be right. And that's really my point. You can't say. It depends on market participants' expectations.

As a side point, what the heck is the Fed doing? It creates a ton of base money, and then, to hit a higher fed funds target, instead of destroying it, it pays banks to not lend it to each other? All they're going to do is get the volume of inter-bank loans to zero; the system is awash in reserves, why would any bank borrow them from another?

And what the heck is the media doing? They call this "policy normalization"? Today's monetary policy is completely unprecedented. IOR is 2x higher than ever. The media endlessly reinforces the public's incorrect view, that the Fed Funds target represents the stance of monetary policy ("easy money" and all that).

Arrgh.

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Yes exactly.  The Fed said, "money should be looser, so we'll expand the monetary base without lowering the Fed Funds target (i.e., QE), but, mark my words, our 2% inflation target is sacrosanct, we will tighten like the dickens if inflation edges above 2%."  The first part was the right thing to do.  The but-part was not.  People wrongly obsess over the number of trillions of dollars created.  That's because they're wrongly focusing on today's concrete action instead of expectations of tomorrow's concrete action.  Because the Fed set expectations that the new QE money will all get mopped if inflation gets to 2%, then it really didn't matter how many dollars it created.  To get traction, the Fed should have at least allowed for the possibility of inflation running above-target for some time.  Fears of inflation would reduce demand for base money, increase V, thereby increasing M*V, whether or not that inflation ever arose.
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The best way I've seen for families to keep track of everyone. Really handy.
FAMILO answers the question “where are you right now?†in a heartbeat. I...
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So, I get this thing from the Federal government saying they got hacked and my personal information got stolen and I should go to https://opm.myidcare.com to enroll in some sort of monitoring service. I go to that site, and they want, guess what, my name, birthday, SSN, etc. It looks too polished / legit, so I don't think it's phishing. Instead, it looks like a bad joke. Question of the day: is the humor intentional?


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My dad got one of those; he had a security clearance years back. He asked me to check and see if it was legit. I determined that it was, but he was nervous for exactly the same reason you were. :-/
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Kenneth Duda

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Tip of the day: Airplane mode 24x7!

That's right... with google project Fi, voice calls and texts work so well over wi-fi that I've started keeping my phone in airplane mode almost 24x7. (You have to re-enable wi-fi after going into airplane mode). This has at least three benefits:

1) call quality is better. Equivalent to land line.

2) battery life is significantly better. I got home from work yesterday with 85% battery left, as opposed to the usual 55%.

3) no surprises where you think you're watching that video over wi-fi but wi-fi dropped and you didn't notice and now you're using silly amounts of cellular data by accident.

Awesomeness.

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Have him in circles
279 people
Lee Hwang's profile photo
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Education
  • Stanford University
    Ph.D., Computer Science, 1993 - 2001
  • Massachusetts Institute of Technology
    BS, MS, Computer ScienceComputer Science, 1988 - 1993
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Introduction
I love programming, especially systems programming of the Linux/C++/kernel/networking flavor.  I run the software team at Arista Networks.  I am deeply concerned about the state of the US economy and what we should be doing to improve monetary policy.  I'm married to Jennifer Duda and have two kids, Molly and Sophie.

Contact me at kjd@duda.org.


Work
Occupation
Software Engineering
Employment
  • Arista Networks, Inc.
    CTO, SVP Software, 2004 - present
  • There, Inc.
    CTO, 1999 - 2004
  • Cisco Systems, Inc.
    Software Engineer, 1995 - 1999
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Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Menlo Park, CA
Previously
Cambridge, MA
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Kenneth Duda's +1's are the things they like, agree with, or want to recommend.
A Plea to My Fellow Free Marketers
macromarketmusings.blogspot.com

As a free-market loving individual, it pains me to see so many of my fellow travelers claim the Fed has artificially suppressed interest rat

'The Backwards Brain Bicycle - Smarter Every Day 133' on ViewPure
viewpure.com

Patreon Support Link: http://www.patreon.com/smartereverydaynFree Audio Book ⇒ http://bit.ly/AudibleSED ⇐ (I really do love the Commander\'s

The Penske View of Macroeconomic Policy
macromarketmusings.blogspot.com

You can learn a lot about macroeconomic policy by driving a Penske truck. I did three years ago when I moved from Texas to Tennessee. The tr

Housing Tax Policy, A Series: Part 36 - We are the 100%, Housing Edition
idiosyncraticwhisk.blogspot.com

As I have been working on the piece about limits to urban housing supply, I have coincidentally come across several articles and posts about

Full steam ahead on 3 cylinders
idiosyncraticwhisk.blogspot.com

JOLTS data continues to look strong. Growth in the major categories continues to be strong (the slopes of the weighted moving averages), and

No Eureka moment when it comes to measuring liquidity
jpkoning.blogspot.com

Measuring liquidity is a pain in the ass. The value of a good, say an apple, is easy to calculate; just look at the market price for apples.

Robots, committees, or markets? | EconLog | Library of Economics and Lib...
econlog.econlib.org

Ben Bernanke has a good post on the Taylor Rule. Let's start at the end, where he argues in favor of decision-making by the FOMC, rather tha

The road to a housing recovery
idiosyncraticwhisk.blogspot.com

Since the mortgage credit market has been stagnant since 2007, changes in US household equity levels have been almost purely a product of ho

The bizarre way economists calculate real income | EconLog | Library of ...
econlog.econlib.org

Over the years I've argued that economists are horribly confused about the concept of

The Eurozone Counterfactual
macromarketmusings.blogspot.com

Imagine the ECB had not raised its interest rate target in 2008 and 2011, but had lowered it. Also imagine the ECB began its open-ended QE p

Housing Tax Policy, A Series: Part 8 - The crisis didn't happen the way ...
idiosyncraticwhisk.blogspot.com

As far as I can tell, just about everyone agrees on the following series of events: 1) House prices driven up by predatory lenders, or publi

TheMoneyIllusion » My new career
www.themoneyillusion.com

I have spent the past 6 years trying to do two jobs at once, my teaching job at Bentley and lots of blogging/writing/speaking on monetary re

What Do John Cochrane, Paul Krugman, and Scott Sumner Have in Common?
macromarketmusings.blogspot.com

What do John Cochrane, Paul Krugman, and Scott Sumner have in common? A lot more than you think. It would be easy to conclude otherwise base

Tribal Reality and Extant Reality
noahpinionblog.blogspot.com

(This is adapted from a rather silly speech I like to give to my finance classes when the slide projector breaks. Warning: includes blatant

Content economics, part 5: news
blogs.reuters.com

The conception of what counts as news is going to get broader. It will include living articles of the kind that Klein is talking about; it w

Best of Interop 2013 Winners Announced - Network Computing
www.networkcomputing.com

The Best of Interop award recognizes innovation in eight tech categories, including networking, cloud, security, mobility and more. Winners

Subway Surfers
market.android.com

DASH as fast as you can! DODGE the oncoming trains! Help Jake, Tricky & Fresh escape from the grumpy Inspector and his dog. ★ Grind trains w

When does fiscal stimulus work?
www.economist.com

RECOVERIES around the world are looking less certain than they did a few months ago, and this has prompted a new round of calls for addition

Very tasty. Voltron Cod taco and Ceviche Tostada were both delicious. A great place if you're traveling (i.e., no ability to deal with leftovers), because you can order two tacos if you're not too hungry, or three etc.
Public - 3 months ago
reviewed 3 months ago
Friendly, good service, short lines, convenient hours, no run arounds... Highly recommend.
Public - 8 months ago
reviewed 8 months ago
Our whole family loves this school. If your top priority for your child is memorizing multiplication tables at the youngest possible age while avoiding any exposure to dirt, this may not be the school for you. But if want your child to learn about citizenship, being part of a community, taking responsibility and making good choices, all while developing a life-long love of learning, then you've come to the right place. Maybe the shortest convincing testimonial comes from a fellow parent, a teacher at a local high school, who observed that his most engaged, most dynamic, most with-it students came disproportionately from Peninsula School... so that's where he sends his daughter.
• • •
Public - 2 years ago
reviewed 2 years ago
It's a no-hassle experience for sure. Sam Ebrahimi (salesman) drove me home and then back to the dealership, making things easier. Pricing seemed fair and consistent with the modest amount of Internet data I scraped up.
Public - 5 years ago
reviewed 5 years ago
6 reviews
Map
Map
Map
The food is tasty, the people are nice, and the prices are very reasonable. There's a small outdoor dining patio (no indoor dining area). We had the cheese ravioli with meat sauce, very good.
Public - 2 years ago
reviewed 2 years ago
Best data center networking gear on the planet. :-)
Public - 5 years ago
reviewed 5 years ago