Why does Google look different in Europe?
Why does Google look different in Europe?
MOST users will not notice the difference. Starting today, Google is fully implementing a small but important change to the advertisement box at the top of the…
October 7, 2017 at 10:47PM
via Instapaper http://ift.tt/2xHjfGP October 07, 2017 at 10:47PM
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After being heavily fined by EU, Google is changing its shopping search display to show competitive shopping price comparison website. The display is sold via auction. This is the first step towards tackling Internet giant's monopoly power. The effectiveness is yet to be seen, however.
Pep Guardiola realises importance of full-back and exposes Chelsea vulnerability | Jonathan Wilson
Pep Guardiola realises importance of full-back and exposes Chelsea vulnerability | Jonathan Wilson
Pep Guardiola talks tactics with Kyle Walker during Manchester City’s Premier League game at Chelsea.Photograph: Matthew Impey/Rex/Shutterstock T his is what…
October 7, 2017 at 10:52PM
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via Instapaper http://www.theguardian.com/football/blog/2017/oct/01/pep-guardiola-importance-full-back-exposes-chelsea-vulnerability-manchester-city
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Man City occupied the triangluar space between wingback, defensive midfielder and wide center back with two attacking midfielder, drawing attention from all three, while the full backs exploit the area behind wingback. The vulnerability of 3-5-1 is exposed. by Pep Guardiola.
Referendums: Yes or No?
Referendums: Yes or No?
October 8, 2017 at 09:33PM
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The difference between referendum and plebiscite can be ambiguous. And they are tangled in practice. The author looked back an interesting history of referendum, from the Bonapartism to the district by district vote to determine borders after World War I (under armed supervision of Allied force soldiers, who were heavily against German), and modern day Scotland independence vote, and the Brexit ensued. Of course all this was triggered by the recent Catalonia referendum of independence.
A few worthy notes:
In Ireland, a vote to accept a new constitution is a plebiscite, but a vote to amend it (like the next year's vote to remove the anti-abortion clause) is a referendum.
In Australia, a plebiscite is a non-binding consultation, designed to test public opinion on some question and gauge whether there is a majority for change. Australians are having a postal plebiscite at this moment on same-sex marriage. A referendum, by contrast, is a binding vote on a constitutional change.
Democratic states dislike referendum, feeling it indicates a failure of representative democracy. France, at first, damned it as a tool of Bonapartism, since it was used by Napoleon III in the nineteenth century to bypass the parliaments and base his dictatorship on "the people's will".
Defining emerging markets
Defining emerging markets
WHAT COUNTS AS an emerging market? Broadly speaking, an economy that is not too rich, not too poor and not too closed to foreign capital. The term was coined by…
October 8, 2017 at 09:44PM
via Instapaper http://ift.tt/2xWVCIJ October 08, 2017 at 09:44PM
via Instapaper https://www.economist.com/news/special-report/21729866-self-fulfilling-prophecy-defining-emerging-markets
Note:
The term "Emerging Market" was first coined by Antoine van Agtmael in 1981 when he was working for International Finance Corporation (IFC),a division of of the World Bank. It was created as a basket of developing countries stocks for investors to diversify their portfolio and reduce risks. It becomes the MSCI index later. The country included are at vastly different development stage. For example, the original index included Portugal and Philippines, the former was seven times as rich as the latter. Asia now accounts for 70% of the groups combined GDP in MSCI Index's 24 countries, and nine out of 24 are classified rich countries by the World Bank.
Interesting side notes:
- From Hong Kong, 60% of the market can be covered within 4 hours of flight, says Sean Taylor of Deutsche Bank Asset Management.
- The biggest company listed on South Africa's stockmarket is Naspers, mainly because it has a 33% stake in Tencent, a Chinese internet giant.
Partisan divides over political values widen
Partisan divides over political values widen
October 5, 2017 1. Partisan divides over political values widen The gap between the political values of Democrats and Republicans is now larger than at any…
October 9, 2017 at 11:24AM
via Instapaper http://ift.tt/2gdhWGs October 09, 2017 at 11:24AM
via Instapaper http://www.people-press.org/2017/10/05/1-partisan-divides-over-political-values-widen/
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Pew Research Center's report, across a range of issues, partisan divides has been widen over the last two decades (1994-2017).
Overall, only on 40% of the issues surveyed, opinions across party line are trending towards the same direction. On majority of the issues (60%), partisan divides are widening more than 20%, with an average of 28.3%. And non of the ten issues surveyed has a shrinking partisan divide, and the average divide increases 21%.
The country is living in a horribly divided age.
| Trending in similar direction | Gap Widening | Gap Change (minus is widening) | |
| Yes Percentage | 40% |
Slightly = 30%
Medium = 10%
Big = 60%
|
Slightly change average = -8.3%
Medium change average = -15%
Big change average = -28.3%
Total change average = -21%
|
| Government regulation of business usually does more harm than god | No | Yes/Medium | -15 = (64-46)-(63-30) = 18 - 33 |
| Government is almost always wasteful and inefficient | No | Yes/Slightly | -8 = (74-59)-(69-45) = 16 - 24 |
| Poor people have it easy because they can get government benefits without ding anything in return | No | No/Big | -28 = (63-44)-(65-18) = 19 - 47 |
| The government today can't afford to do much more to help the needy | Yes | Yes/Big | -26 = (58-37)-(69-24) = 19 - 45 |
| Most corporations make a fair and reasonable amount of profit | Yes | Yes/Slightly | -9 = (54-35) - (52-24) =19 - 28 |
| Blacks who can't get ahead in this country are mostly responsible for their own condition | No | Yes/Big | -34 = (66-53)-(75-28) = 13 - 47 |
| Immigrants today are a burden on our country because they take our jobs, housing and health care | Yes | Yes/Big | -30 = (64-62)-(44-12) = 2 - 32 |
| Homosexuality should be discouraged by society | Yes | Yes/Slightly | -8 = (58-42)-(37-13) = 16 - 24 |
| The best way to ensure peace is through military strength | No | No/Big | -24 = (44-28)-(53-13) = 16 - 40 |
| Stricter environmental laws and regulations cost too many jobs and hurt the economy | No | No/Big | -28 = (39-29)-(58-20) = 10 - 38 |
Slightly: less than 10% gap widening
Medium: 10-20% gap widening
Big: >20% gap widening
One Day in the Life of Battered Puerto Rico
One Day in the Life of Battered Puerto Rico
October 10, 2017 at 07:27PM
via Instapaper http://ift.tt/2yfw0da October 10, 2017 at 07:27PM
via Instapaper https://www.nytimes.com/interactive/2017/09/30/us/24-hours-in-puerto-rico-after-hurricane-maria.html
Note:
NY times witness a full day of battered Puerto Rico, where people's life are turned up side down. shockingly real and touching.
The EU proposes pan-European pension products
The EU proposes pan-European pension products
THE story of the European Union is in part that of the steady accretion of power by its central bodies. But until now the politically touchy business of running…
October 10, 2017 at 10:29PM
via Instapaper http://ift.tt/2tMLxhH October 10, 2017 at 10:29PM
via Instapaper https://www.economist.com/news/finance-and-economics/21724815-modest-step-help-savers-and-bring-europes-capital-markets-union-closer
Note:
A pan-European pension products proposal might have the potential to address the un-even market of retirement saving in Europe. But the impact will be small because it is only to brings one more option in the voluntary and private market, and makes no changes to the life-line government pension system.
Apple’s Silence in China Sets a Dangerous Precedent
Apple’s Silence in China Sets a Dangerous Precedent
An internet user in China. The country is one of Apple’s biggest markets. Greg Baker/Agence France-Presse — Getty Images A year ago, the Federal Bureau of…
October 10, 2017 at 10:36PM
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via Instapaper https://www.nytimes.com/2017/07/31/technology/apple-vpn-china-dangerous-precedent.html
Note:
Critics of Apple's recent silence in China regarding the banning of VPN apps. The critics centers around the ambiguity in the legal ground the ban is based on. Apple's stated goal to protect customers contradicts their action against the Chinese government. And this could set a precedent for what is to come, in case of suppressing dissidents and free speech request from the government in the future.
Succumbing to pressure from authoritarian government is bad optics, but limited coverage and lack of interest from the public in the US is unlikely to put much pressure on Apple.
Getting to grips with longevity
Getting to grips with longevity
“NO AGE JOKES tonight, all right?” quipped Sir Mick Jagger, the 73-year-old front man of the Rolling Stones (pictured), as he welcomed the crowds to Desert Trip…
October 11, 2017 at 11:01AM
via Instapaper http://ift.tt/2sQZt65 October 11, 2017 at 11:13AM
via Instapaper https://www.economist.com/news/special-report/21724745-ageing-populations-could-be-boon-rather-curse-happen-lot
Note:
People are living much longer than they used to be, but we still have the same retirement age. Many retirees are still productive, or at least could be part time contributors to the economy. And release their potential could ease the pressure on the society, and help ease the aging population transition into retirement life by improving their financial standings.
Budget reconciliation, explained
Budget reconciliation, explained
BUDGETING! Shutterstock While Republicans lost seats in the Senate and House, and lost the popular vote for president, the 2016 election nonetheless left them…
October 11, 2017 at 12:42PM
via Instapaper http://ift.tt/2pCxHvW October 11, 2017 at 12:42PM
via Instapaper https://www.vox.com/policy-and-politics/2016/11/23/13709518/budget-reconciliation-explained
Note:
Budget reconciliation was a process designed for tinkering with tax code and laws authorizing mandatory spending programs for the latest budget. Reconciliation makes passing major laws much easier since it is filibuster proof.
For reconciliation to be used, Congress has to pass a budget resolution, which has to include "reconciliation instructions" that instruct specific committees to draw up legislation on a given topic.
There is also a strict limit on how often Congress can use reconciliation. Basically, it is limited to one spending/revenue bill per year, or per budget resolution.
“Under Senate interpretations of the Congressional Budget Act, the Senate can consider the three basic subjects of reconciliation — spending, revenues, and debt limit — in a single bill or multiple bills, but it can consider each of these three in only one bill per year,” the Center on Budget and Policy Priorities’ David Reich and Richard Kogan write. “This rule is most significant if the first reconciliation bill that the Senate takes up affects both spending and revenues. Even if that bill is overwhelmingly devoted to only one of those subjects, no subsequent reconciliation bill can affect either revenues or spending because the first bill already addressed them.” So it actually can have three bills per year (or per budget resolution) at most, addressing spending, revenues, and debt limit once.
From 2007 to 2011, Democrats and Congress further banned reconciliation from being used to increase deficits; Republicans junked that rule upon retaking power in the House. Since 2011, Republicans have adopted rules that block reconciliation’s use to expand mandatory spending at all, even if such spending is offset or more than offset by other cuts or taxes. That would effectively rule out using reconciliation to set up programs like SCHIP or boost Obamacare subsidies or expand the EITC, as it’s been used to do in the past.
But the biggest restriction on budget reconciliation is the “Byrd rule.” Named after then-Senate Minority Leader Robert Byrd, who introduced the rule in 1985, the rule offers a way for senators to raise a point of order against "extraneous" provisions in bills being considered under reconciliation. Generally speaking, "extraneous" provisions include ones that:
- Change Social Security,
- don’t change the overall level of spending or revenue, or where such a change is merely "incidental,"
- increase deficits outside the 10-year budget window, and/or
- are outside the jurisdiction of the committee recommending them.
There are a couple of other limitations as well, but those are the major ones.
The Byrd rule has sharply limited what reconciliation can be used for. It hasn’t affected Social Security, for one thing, but it also can’t be used to pass provisions in major legislation that aren’t directed related to spending or revenue. For instance, Obamacare’s ban on discrimination based on preexisting conditions only affects spending “incidentally,” and so could not have been passed through reconciliation.
Perhaps the most famous cases of the Byrd rule affecting a major piece of legislation were the 2001 and 2003 Bush tax cuts. These were massive, unpaid-for reductions in revenue, which ran afoul of the Byrd rule’s requirement that legislation not increase the deficit after 10 years. To get around that, the legislation was written to expire within that 10-year window. That’s why we had massive fights in 2010 and 2012 about extending the Bush tax cuts; if it weren’t for the Byrd rule, the cuts would’ve just been permanent and President Obama would’ve had little say in the matter.
So conditions has to be made:
not change social security;
change the overall spending or revenue, and such change(s) can't be merely "incidental";
not increase deficits outside the 10 year budget window, OR (?) not outside the jurisdiction of the committee recommending them. (this feels like it should be an 'and' here).
Lost weekend: How Trump’s time at his golf club hurt the response to Maria
Lost weekend: How Trump’s time at his golf club hurt the response to Maria
At first, the Trump administration seemed to be doing all the right things to respond to the disaster in Puerto Rico. As Hurricane Maria made landfall on…
October 11, 2017 at 03:50PM
via Instapaper http://ift.tt/2fwV9oi October 11, 2017 at 03:50PM
Note:
Recap of Trump administration's slow response to Hurricane Maria from Thursday to Monday. Trump flew to his gold course in New Jersey, neither Trump or any of his senior White House said a word about the Hurricane in this time period. Trump himself was feuding with Republicans in Congress, grappling with North Korea, and condemning anthem protests of NFL players. This void of response and follow-up disaster relief might have caused Puerto Rico dearly. Unlike Harvey and Irma response, not enough resources were prepared before the landing of the hurricane, even it is common knowledge that the potential effect would lead to loss of power for the entire island. Effects of such negligence still remain to be seen, since the inner island are still to be reached by the rescue and disaster relief teams. But 4 precious days were lost after landing of such a major Hurricane. This is inexplicable negligence of the administration, and the administration has no excuse not to be responsible for the man-made disaster.
Under siege by liberals: the town where everyone owns a gun
Under siege by liberals: the town where everyone owns a gun
October 11, 2017 at 08:13PM
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via Instapaper http://www.theguardian.com/us-news/2017/jul/14/nucla-colorado-mandatory-gun-law-mining-telluride
Note:
A story of an American town with mandatory gun owning law.
October 12, 2017 at 07:25AM
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via Instapaper
https://www.economist.com/news/finance-and-economics/21725782-new-paper-argues-fiat-money-equity-why-national-accounts-might-be
Why national accounts might be like corporate balance-sheets
Why national accounts might be like corporate balance-sheets
THE easiest way to get an economist to laugh sardonically is to compare a country’s finances to those of a family. It is both simplistic and wrong, they will…
Note:
National can be comparable to corporate balance-sheets. Unlike family or personal balance sheets, national accounts are similar to corporate balance-sheets, especially those of large multi-national corporations. Corporations issue "fiat" (from Latin "let it be done") in terms of shares, just like countries issue money. Equity gives its holders a claim on the assets and profits of a company; money gives its holders (citizens) a claim on the goods and services produced by a company.
Inflation can be explained with another analogy, if a company issues shares to new investors for less than their true value, the holding of existing shareholders is diluted. "similarly when a nation issues more money to new holders while adding less real output than the purchasing power of money, then existing holders of money are also diluted in proportion to the transfer of value," the authors write.
The authors draw a parallel with a well-known concept in corporate finance_the Modigliani-Miller theorem. Franco Modigliani and Merton Miller proposed that, in the absence of a range of complex factors like taxes and bankruptcy costs, the value of a company should be unaffected by how it is financed. To spell this out: the enterprise value of a company represents the combined value of its shares and bonds. The bondholders have first claim on its cash flows. If the company suddenly issues a lot of bonds, its shares will become more risky and will fall in value, but the overall enterprise value will be unchanged.
With some fancy math, the authors say that in this is applicable to national finances, assuming an economy without "frictions", borrowing in foreign currency or issuing "fiat" money doesn't matter.
However, in real world, there bound to be frictions. For corporations, the values are evenly distributed if shares are split. Say a company breaking all current $100 shares into two $50 shares, there will be no change to the values held by share holders. Governments, however, tend to use new money to buy financial assets, or goods and services. So the gains are not evenly distributed. This is the real cost of fiat-money issuance - the transfer of wealth from some citizens to others.
Borrowing also brings risks. A country with too high a debt ratio may default on its foreign-currency obligations. The results may be a shock: much higher interest rates or lost access to the credit markets that may damage the economy. So when a rational government finances investments, it is choosing between the redistribution risks caused by inflation and the risk of default on foreign debts.
It is a intriguing way to formulate the debate, particularly in the light of the extensive use of quantitative easing by central banks since the financial crisis broke in 2008. This has caused less inflation than many feared, which has led some economists to argue that there is little constraint on the ability of rich-world governments to finance their spending, provided a central bank is willing to issue fiat money at will. But what counts is confidence. Countries can find eager takers for their debts and willing holders of their money. Until, at some point, they won't accept them any more. Predicting when that point occurs is the tricky task, for economists and non-economists alike.
October 12, 2017 at 05:03PM
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via Instapaper https://www.farnamstreetblog.com/2016/10/eat-the-broccoli/
At Some Point, You Have to Eat The Broccoli
At Some Point, You Have to Eat The Broccoli
Note:
From Farnam Streets. At some point, after learning and studying all the methods and ways to improve productivity, or defeat procrastination, you have to act, put them into practice. Otherwise, no matter how much you study the topic, it is just talking the talk. Until you walk the walk, nothing you read or learn will make any differences.
So if you feel like you have read enough, time to step forward, and make a real change. Otherwise, it is just another form of procrastinating.
October 12, 2017 at 08:08PM
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American public pensions suffer from a gaping hole
American public pensions suffer from a gaping hole
SCHOOLS in Pennsylvania ought to be celebrating. The state gave them a $125m budget increase for 2017-18—enough for plenty of extra books and equipment. But…
Note:
Gaping hole in American public pensions are growing. Over-estimating long term investment return, led to underestimating necessary contributions from the employees. Generous benefits promised before, and longer life expectations are also contributors to the problem. The voters have to decide, either to reduce the benefits in pensions, or raise taxes to pay for the educators, fire fighters and the police.
How conservative states and liberal cities vie for control
How conservative states and liberal cities vie for control
AT FIRST glance, they seem unrelated: a fracking ban in Denton, Texas; a minimum-wage increase in St Louis, Missouri; and an anti-discrimination ordinance in…
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Conservative controlled states' legislation are taking pre-emption actions to block municipal laws and ensure statewide uniformity. The battle for control keeps going, as well as the swings of political pendulum.
October 12, 2017 at 09:06PM
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Why can’t we cure the common cold?
Why can’t we cure the common cold?
T he common cold has the twin distinction of being both the world’s most widespread infectious disease and one of the most elusive. The name is a problem, for…
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Common cold could be caused by more than two hundred types of virus. Most common is a family of virus called rhinovirus. Rhinovirus, the smallest cold pathogen by size, is by far the most prevalent, causing up to three-quarters of colds in adults. No vaccines were successful in dealing with rhinovirus. Several failed attempts also seem to proved the efforts of vaccination if futile. But pathologists might renewed the hope of finding a vaccine. Although history will tell us, it is still too early to call.
Trump Is Far Less Popular Than The Economy Suggests He Should Be
Trump Is Far Less Popular Than The Economy Suggests He Should Be
Welcome to Pollapalooza , our weekly polling roundup. Today’s theme song: “ Let the River Run ” from the television show “ Working Girl .” Poll of the week…
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Trump is way out of ordinary if looking at the trend between a president's approval rating and the economy. Trump's handling of the economy has been so far consistently received higher approval than of his overall performance. What will happen to his approval rating if the economy takes a downturn?
October 13, 2017 at 10:43PM
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Just Twenty-Five Pages a Day
Just Twenty-Five Pages a Day
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Just twenty five pages a day, you can finish the Odyssey, or War and Peace in a few months. Move the mountains by taking small but steady steps.
Top 10 Hacks for Automating Your Life
Top 10 Hacks for Automating Your Life
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Not really surprising, a lot of things are not worth it for non-geeks. Things like automating your TV/computer tasks and home appliances could sometimes be dangerous, since the market are not mature enough, and security breaches could have chilling consequences. Others are pretty common anyway, like set up automatic monthly payments for utility bills or credit payments.
