- Newspapers and Thinking the Unthinkable – A good epitaph for the newspaper, by Clay Shirky. Now if only Elsevier would go bankrupt too. (tagged: technology economy history internet copyright publishing newspapers )
- Will Banks Start to Walk Their Talk? Don't Hold Your Breath – I thought that whole spiel about how Citi and friends were suddenly going to be profitable sounded suspicious. All they had to do was redefine the word "profit" to mean whatever they wanted it to mean! Brilliant! The innovations that flow from our Commanding Heights never fail to amaze. (tagged: baiilout finance economics policy politics banks citi )
- Our Pigs, Our Food, Our Health – Massive overuse of antibiotics in livestock feed breeds bacteria resistant to antibiotics? Whodathunkit! WTF is this article doing on the Op-Ed page? Shouldn't someone be out there in Iowa winning a Pulitzer over this? Or is it too obvious to even warrant investigation. We're going to look back in 100, or 50, or 25 years and deeply regret squandering the limited miracle of antibiotics on cheap bacon. This is what we get for refusing to teach evolution. (tagged: health evolution antibiotics agriculture food mrsa livestock farms )
- Obama Tells Business Roundtable: “If You’re Giving Away Carbon Permits For Free … It Doesn’t Work” And “The Science Is Overwhelming” – Joe Romm usually bugs the crap out of me, but this is actually a decent piece, trying to get across the point that Obama really, actually appears to understand what would be required to get carbon pricing implemented and functional, both from a policy and a political point of view. The sooner industry starts planning around this, the better it'll be for everyone. (tagged: climate carbon economics auction policy obama energy )
- Hussman Funds – Weekly Market Comment: Buckle Up – I don't see any reason to trust Hussman more than the normal investing talking heads who do about as well as chance would predict, but he can do division:
The course of defending the bondholders of insolvent institutions is not sustainable. Do the math. The collateral behind private market debt is being marked down by easily 20-30%. That debt represents about 3.5 times GDP. That implies collateral losses on the order of 70-100% of GDP, which itself is $14 trillion. Unless Congress is actually willing to commit that amount of public funds to defend the bondholders of mismanaged financials so they can avoid any loss, this crisis simply cannot be addressed through bailouts. Bondholders have to take losses. Debt has to be restructured. There is no other option — but the markets are going to suffer interminably until our leaders figure that out. (tagged: finance crisis banks investing bailout )
Tag: economics
Shared Links for Mar 9th
- Tent City Rapidly Growing in Sacramento – Wow, a tent city forming within Sacramento? What proportion of people ended up living in shantytowns and similar impromptu dwellings and communities during the Great Depression I wonder. Ironic and sad, given the absurd oversupply of housing is what in large part triggered this economic mess. (tagged: homeless economy depression sacramento california shanty )
- Wikileaks cracks NATO's Master Narrative for Afghanistan – For the love of god, even the Pentagon can't get its users to pick decent passwords? Classified messaging (propaganda) documents regarding Afghanistan posted on publicly accessible website, encrypted with the super-secret ultra-secure key: 'progress'. (tagged: propaganda transparency war pentagon military security internet )
- Nationalization for Beginners – A nice short readable set of the possible definitions of "Nationalization" in the context of the banking crisis. Opponents usually mean Soviet style State Banks, proponents generally mean FDIC style conservatorship. What we've got now is a horribly opaque mishmash. (tagged: bailout crisis finance fdic economics )
- Rep. John Conyers: A Reply to Larry Lessig – Conyers replies to Lessig's fairly aggressive critique of HR801 in public. Not convincing. (tagged: politics science openaccess hr801 lessig conyers publishing )
- Talk on China and the Global Internet at Harvard – Rebecca MacKinnon gave a talk on the future of China within the context of the global Internet. Haven't watched it yet, but downloaded to my iTunes, and her blog is good. Ethan Zuckerman blogged it. Interesting to see how different cultures evolve their relationship with the machines independently (and how it mediates our interactions with each other) (tagged: china internet technology transparency censorship harvard )
Shared Links for Feb 28th
- Short Term Investing – A gleeful satire of what really, truly ails Wall Street, and capitalism in general: grotesquely short term thinking. (tagged: investing finance money bailout satire )
- MBARI finds fish with a transparent head – This thing is beyond weird. If we're still discovering things like this on Earth, how can we hope to even imagine what extraterrestrial organisms would be like? (tagged: fish biology science video weird alien ocean evolution )
- The Kessler Syndrome – Another example of unsustainable behavior, without forethought on our parts? The recent collision of two satellites is causing some to wonder if we might be getting close to the threshold at which the debris from such collisions begets more collisions, and more debris, in a runaway process rendering low earth orbit useless for satellites. (tagged: space sustainability non-linear kessler imapcts )
- Zeitgeist – The Movie – Have not seen these movies. Some of what the summaries say is interesting, but other parts sound utterly bogus. Curious from a memetic point of view if nothing else… (tagged: movie film zeitgeist economics religion politics money war )
- Boston Dynamics (DARPA) BIGDOG Robot – BigDog is a DARPA funded quadripedal robot capable of climbing over a pile of cinderblocks, walking on slippery ice, scaling dunes and snow covered hillsides, taking a big shove from the side, and jumping over a designated obstacle. When do we get to send one of these guys to Mars? (tagged: robot youtube darpa mars military video research technology )
Shared Links for Feb 26th
- Zombie Bank Monster Mash – An animated monster mash, starring our bailed out financial "industry" (or is it just a lobby now?). Sadly Mark Fiore seems unwilling to implicate the current administration in the continuing mess. (tagged: cartoon zombie finance bailout banks economics politics geithner )
- No, Wait! You Got It Backwards! – Well, so much for any hint of "change" in the administration's policies toward the banking industry. The Treasury's plans to buy convertible preferred shares in the banks is completely backwards – giving a put option to the banks, instead of getting a call option in exchange for the risky investment. Taxpayers are guaranteed to be screwed. (tagged: treasury banks bailout geithner obama economics finance )
- The Case Against Home Ownership – An infrequently made point in the US: owning is often more expensive, and less convenient, than renting… and that's even before you account for the massive government incentives that have been put in place since WWII to encourage people to buy their own place. People frequently look at me like I'm crazy when I suggest we should just live close to where we work as a way to avoid the expenses of driving, or the inconveniences of (bad) public transit. (tagged: subsidy transportation housing economics suburbia planning taxes )
- Copenhagen to continue Copenhagenizing – Denmark's take on "economic stimulus": massive investments in public transit and bike infrastructure. In a nation of 5 million, they're committing $16 billion over the next 10 years, which is about $1/day per person (which is less than 1/5 what the average US family spends on their automobiles) Regional rail, intra-city light rail. Bike lanes and paths. Road pricing for drivers. Etc, etc. I'm glad someone is setting a good example. It will be interesting to see how the world responds to Copenhagen later this year, when the next round of climate talks takes place. I can't think of a better city to represent my hopes for the future. (tagged: transportation politics copenhagen bicycle rail denmark stimulus )
- NYPD fires rookie cop caught on YouTube video bashing bicyclist – Last fall a cyclist was body checked off their bike by a cop in the midst of a Times Square Critical Mass ride. Said event was recorded via cameraphone. Cop perjured himself in official report, claiming cyclist ran into him intentionally. Video viewed on YouTube 2 million times. Cop now unemployed and facing 4 years in prison for assault, falsifying documents. Sometimes we win. Makes me want to record just about everything. (tagged: bicycle police transparency youtube )
Shared Links for Feb 23rd
- Goodbye to the Age of Newspapers – I just don't buy the lament of the newspapermen. If the papers were subsidizing the collection of "real" news with ads, how sure are we that people ever wanted news? Why exactly should we believe that there ever was some public interest at heart in journalism? I'd say it's just as likely that the fragmentation of digital media, and the trend toward tabloid fluff, is an indication that nobody (or at least, not enough people) really cared about the "serious" news in the first place. Disaggregated, opinionated, (truly) non-profit journalism will certainly be different than the muckrakers, or Big Media, but it's unclear to me that it will be worse in any way for government transparency, or democratic interchange. (tagged: technology media government transparency democracy )
- The Crisis of Credit Visualized – Another great popularly accessible explanation of how we got into this mess, this time in cartoon form. Too bad there weren't any regulators in the story! (tagged: economy crisis financial animation mortgage subprime )
- Bank insolvency: tips & tricks – Never, ever, feed a zombie bank. The great thing (or, one great thing) about blogs is that you can talk about serious and technical issues, using analogies to zombies. Try that in the Economist, or the WSJ. (tagged: economics finance stimulus bailout fed banks zombie )
- Ann Druyan Talks About Science, Religion, Wonder, Awe, and Carl Sagan – Musings from Ann Druyan (Carl Sagan's partner) on how we might apply the wonder of the cosmos, as revealed by science, toward the creation of naturalist spiritual communities. (tagged: science religion sagan atheism naturalism cosmos spirituality )
- There's no reason for non-recourse – Options are valuable. That's why we have markets for them. The trillion dollars worth of non-recourse loans (cf pawnbroker) which the Fed is apparently about to offer up to the finance industry, will, because they are non-recourse, lead to a misvaluation of the assets being bought, even if they're being bought by private entities, because the penalty for non-repayment is simply forfeiting the asset (which might very well end up being worthless). The Fed is acting like a pawn shop, but a dumb one: what pawn shop in its right mind would let you exchange your cubic zirconia for half the value of a diamond? (tagged: finance economics crisis bailout fed geithner bernanke )
Not All Capital is Fungible
There are only two real pools of capital: alternatively natural or human, external or internal, material or informational.
Natural (external, material) capital is the pre-existing wealth of the world, which was not dependent on our organization or existence: the metals we mine, the trees, the fresh water, the fisheries, solar energy, the fossil fuels, the potential for agricultural produce (as a co-location of soil, water, and climate). Human (internal, informational) capital is the value inherent in technology, skill, organization, understanding, and knowledge.
Shared Links for Feb 20th
- USA CO2 emissions from fossil fuel – CO2 emitted, broken down geographically by county, and source of emission, fully zoom-and-panable in Google Earth! (tagged: energy maps visualization environment co2 carbon )
- In Amsterdam, The Bicycle Still Rules – The Netherlands spends about $6 each year per capita on bicycle infrastructure. California spends about about 18 cents. What would our state be like if we upped the ante? (tagged: bicycle transportation policy amsterdam california budget )
- Drones parked in our own backyard, to Bomb our own People – Ah, the People have their own Eye in the Sky now. Google Earth allows Pakistanis to find the CIA's predator drones, parked in an airfield in Pakistan! So much for their government's denial of involvement. (tagged: transparency surveillance google pakistan drone )
- Streams of Travelers – A one hour time lapse of a square filled with flowing pedestrians in Amsterdam. They're pretty dynamic, those walkers. (tagged: amsterdam pedestrian timelapse video flickr )
- Watching the Growth of Walmart Across America – Very cool animation of the spread of WalMart across America. Kind of like watching popcorn pop… (tagged: walmart maps economics visualization )
Shared Links for Feb 18th
- Do the British love their children too? – Two girls run over while biking to their school 3 miles away. British (and probably American) "solution": re-allocate a school bus to their area (removing the bus from somewhere else). Dutch/German/Danish solution: provide better cycling infrastructure for everyone. Guess which one I think is better. (tagged: bicycle transportation infrastructure accident bike )
- MIT open prototype initiative – A project to produce modular, open (freely available, non-proprietary) prototype designs for energy efficient buildings. MIT is so awesome. (tagged: green architecture design building )
- LEED Platinum Prefab Home Now Available – Taking all the design work out of building zero energy homes should make it a lot easier to build them, but the contractors doing the actual construction still need to understand what they're doing, and how their application of building techniques will affect the end performance of the building (and their profits need to be tied to that performance somehow) (tagged: green architecture leed construction buildings )
- Kidnapping Chrysler – Of course Cerberus (private equity firm that owns Chrysler, not three headed dog guarding hell) has a "fiduciary obligation" to seek a handout from the Feds. And by Jove, the Feds have a fiduciary obligation to refuse to give it to them! (tagged: bailout chrysler cerberus crisis economy gm )
- Where data goes when it dies – Following from the Ma.gnolia implosion, Chris Messina muses on data loss and recovery… kind of an information grieving process. What are we going to do with all of this information anyway? 100 years from now, all historians will have to be AI. (tagged: data archive backups loss microformats recovery )
- What really happened at Ma.gnolia – The social bookmarking service Ma.gnolia was, despite its surprisingly large user base, basically run like Ideotrope – one guy with a server, and some (in retrospect) pretty janky backups. A couple of weeks ago, the 500GB MySQL database file got corrupted, the backups failed, and the site imploded. Lessons to be learned indeed: number one is don't do your own IT, now that S3, EC2, the Google Apps Engine, and other such scalable enterprise systems are available. We gotta get that server retired… (tagged: backups magnolia data servers hosting )
- Baseline Scenario for 2009-02-09 – A rundown of the current global financial situation, and governmental attempts to get things under control. These guys aren't particularly optimistic at the moment about our ability to acknowledge just how beholden our supposedly powerful and developed governments have become to the banking industry. We're acting like Indonesia or Russia with their oligarchic overlords. (tagged: finance economy economics crisis )
Shared Links for Feb 12th – Feb 15th
- Simon Johnson of the IMF on the ongoing financial bailouts – Simon Johnson works for the IMF, and what he sees in the US approach to its financial crisis is much more similar to say, Indonesia or Russia, than a "normal" developed world economic mess. He sees a clash between the government, and an oligarchy, in which currently, the oligarchy is winning. Hopefully we'll get our act together here… as the IMF isn't going to be stepping in anytime soon. (tagged: financial economy pbs moyers crisis economics politics geithner imf )
- Bicycling's Into the Wild – Screw school, ride your bike into the forest and disappear. Almost sounds like me! Except instead of racing, I got into… grad school. Uh, hmm. (tagged: bicycle nytimes touring wilderness )
- Roubini, Taleb, Marx, Lenin, and Python – Indeed, asking Taleb and Roubini for stock tips is like asking Karl Marx who won the English Football Cup in 1949. (tagged: roubini taleb montypython krugman economy blackswan finance )
- The Orange Line Bike Path Buck Stops…Where? – Apparently there's a bikeway that parallel's the Orange Line bus rapid transit in the Valley. Who knew! Not the contractors who were paid $160,000 to maintain it, as it turns out. (tagged: ladot bike bicycle transportation bureaucracy )
- Whither the War on Drugs under Kerlikowske? – Wouldn't it be nice to have a sane drug policy? Seattle's notoriously reasonable police chief has been nominated to the position of Drug Czar. I wonder if the Senate will confirm him? (tagged: drugs marijuana obama politics war seattle kerlikowske czar )
Shared Links for Feb 11th – Feb 12th
- Getting Traffic Signals to Detect Bicycles – A short presentation on how induction loop traffic sensors work, and how to maximize your chances of being detected as a cyclist… and also how to make sure your sensors can detect cyclists, if you're a transportation engineer! (tagged: bicycle bike cycling transportation technology induction sensor loop )
- Tweet-a-Watt, A twittering power meter – Now if only somebody would make these things work out of the box, instead of requiring a soldering iron… (tagged: energy technology twitter green )
- China Needs U.S. Guarantees for Treasuries – Huh? What's a "treasury guarantee", and why would it be any more trustworthy than the promise to repay the debt implicit in any bond? Probably what they really mean is "Um, we're not really planning on buying any more of your Govt. debt, thanks. At least, certainly not at the pitiful interest rates you're currently offering." And so the Fed will "buy" it instead. I think this is called "quantitative easing" in doublespeak. Also known as printing money… (tagged: finance economy china federal reserve economics )
- Does a Big Economy Need Big Power Plants? – Good, if somewhat superficial and dismissive, look at big power versus small power. I really hope Amory Lovins is correct. (tagged: energy policy efficiency economics lovins renewable )
- Stimulus Bill Is Anti-Religious – Man, I *wish* the ACLU had drafted the stimulus bill! What's wrong exactly is prohibiting the use of federal funds for building religious institutions? Why would this not fall under separation of church and state? (tagged: politics religion stimulus huckabee conservative )