I've never been much of a new years person. I'm usually disappointed by the passing of another year rather than excited by the possibilities that lie ahead. It's a downer, I know. That said, I hope you all have very happy new year celebrations.
As for resolutions, last year I had three:
1) Quit biting my nails.
2) Get a little better at singing.
3) Send a letter or postcard every week.
In generally I failed miserably. However, I do bite my nails less and I can sing slightly better. As for the letters: failure.
I haven't come up with mine yet, but will share when I do. What are yours?
Wednesday, December 31, 2008
Religion Question
What do catholic priests do if, during communion, they spill the wine/blood or crackers/body all over the place?
Tuesday, December 30, 2008
But I Heart Hugh Grant!
According to a new study, romantic comedies are bad for you because they create unreasonable relationship expectations.
Twilight is probably bad for you too. Just sayin'. ;)
Twilight is probably bad for you too. Just sayin'. ;)
Thursday, December 25, 2008
Merry Christmas!
Wow, so blogging is hard when on vacation. I actually thought it would be easier, what with more time. Alas I was wrong. Between the friends, gifting, family, etc, I wanted to wish you all a very merry Christmas. Hooray!
Friday, December 19, 2008
Non-Paper Daily, 12.19.2008
*Obama completed his cabinet today:
-Congressman Ray LaHood as Secretary of Transportation.
-Congresswoman Hilda Solis for Secretary of Labor.
-Former Dallas mayor Ron Kirk for for US Trade Representative.
-Karen Mills, a former venture capitalist, to lead the Small Business Administration
Not many thoughts except that Ray LaHood is a Republican, one of two or three if I'm not mistaken, that Obama has added to his cabinet.
*President Bush released just over $13 billion in bailout funds for the the American automakers. Considering the economic hurt we are in, this is probably a good idea. One of the last things we need is another couple million people out of work. If those companies are going to fail, it needs to happen when there is enough capital available for replacement companies to start up.
*And in the biggest news, today was my last day before Christmas break. Hooray!
-Congressman Ray LaHood as Secretary of Transportation.
-Congresswoman Hilda Solis for Secretary of Labor.
-Former Dallas mayor Ron Kirk for for US Trade Representative.
-Karen Mills, a former venture capitalist, to lead the Small Business Administration
Not many thoughts except that Ray LaHood is a Republican, one of two or three if I'm not mistaken, that Obama has added to his cabinet.
*President Bush released just over $13 billion in bailout funds for the the American automakers. Considering the economic hurt we are in, this is probably a good idea. One of the last things we need is another couple million people out of work. If those companies are going to fail, it needs to happen when there is enough capital available for replacement companies to start up.
*And in the biggest news, today was my last day before Christmas break. Hooray!
The Trade Deficit Bubble
Here is a well-written blog on a topic I have been mulling over for a couple years. The nickel version: First there was the dotcom bubble, then the housing bubble. What's next? How about the trade deficit bubble? The United States borrows billions of dollars every year to pay for things for which we don't have money. What happens when that bubble bursts and countries around the world no longer want to buy our currency? It's a big question with lots of scary answers. Click the link, it's worth a read.
Thursday, December 18, 2008
F3DM by BYD
Big time news. (click the link for a photo of the car)
Today BYD Auto, a Chinese automaker, released the first ever mass produced plug-in electric car. Basic design: The car has enough batteries (that are charged from your electrical outlet) to drive approximately 60 miles on all-electric mode, meaning the internal combustion engine does not turn on. After 60 miles the car can either start a small generator that charges the batteries or simply act like a normal hybrid.
I'm a huge proponent of these vehicles. First, they are a bridge technology that will move us closer to electric vehicles. Second, they reduce greenhouse gas emissions compared with traditional vehicles. Third, they move the smog away from population centers to more efficient electricity production centers. And fourth, as our electricity production becomes greener (wind, solar, etc), so too do these cars.
My true wish would be people biking and walking more, but the reality is that people will drive individual vehicles. If that's going to be the case, then plug-in hybrids are a good start.
Today BYD Auto, a Chinese automaker, released the first ever mass produced plug-in electric car. Basic design: The car has enough batteries (that are charged from your electrical outlet) to drive approximately 60 miles on all-electric mode, meaning the internal combustion engine does not turn on. After 60 miles the car can either start a small generator that charges the batteries or simply act like a normal hybrid.
I'm a huge proponent of these vehicles. First, they are a bridge technology that will move us closer to electric vehicles. Second, they reduce greenhouse gas emissions compared with traditional vehicles. Third, they move the smog away from population centers to more efficient electricity production centers. And fourth, as our electricity production becomes greener (wind, solar, etc), so too do these cars.
My true wish would be people biking and walking more, but the reality is that people will drive individual vehicles. If that's going to be the case, then plug-in hybrids are a good start.
Tom Vilsack: Next Secretary of Agriculture
Yesterday, Barack Obama made another addition to his cabinet, adding Tom Vilsack as Secretary of Agriculture. Vilsack is the former governor of Iowa, a state famous for its agriculture. So, a good fit, right?
Wrong. Perhaps the greatest policy blunder in the history of the United States has been massive producer-side (government support that goes directly to the producer of a good or service) subsidies to corn farmers. The result has been a breathtaking shift in America's food chain. Just about everything we eat, with the exception of fresh vegetables, is based in corn. Nearly all processed foods are made with high fructose corn syrup. Nearly all dairy products come from corn-fed cows. Nearly all beef and pork comes from animals fed corn. Nutritionists across the globe agree that a diet based in corn, especially high-fructose corn syrup, is a leading contributor to obesity.
Furthermore, the latest policy fad of producing ethanol from corn is disastrous. It's led to an increase in food prices, over-use of arable land, a shift away from traditional crops toward a corn-based monoculture, and a huge use of water and energy to produce fuel. Bad, bad, bad, and worse.
Rather than moving in the direction of more corn, Obama should be moving away from corn. Vilsack will be a good old boy advocating for more subsidies and increased production of corn. Big strikeout on this selection.
Wrong. Perhaps the greatest policy blunder in the history of the United States has been massive producer-side (government support that goes directly to the producer of a good or service) subsidies to corn farmers. The result has been a breathtaking shift in America's food chain. Just about everything we eat, with the exception of fresh vegetables, is based in corn. Nearly all processed foods are made with high fructose corn syrup. Nearly all dairy products come from corn-fed cows. Nearly all beef and pork comes from animals fed corn. Nutritionists across the globe agree that a diet based in corn, especially high-fructose corn syrup, is a leading contributor to obesity.
Furthermore, the latest policy fad of producing ethanol from corn is disastrous. It's led to an increase in food prices, over-use of arable land, a shift away from traditional crops toward a corn-based monoculture, and a huge use of water and energy to produce fuel. Bad, bad, bad, and worse.
Rather than moving in the direction of more corn, Obama should be moving away from corn. Vilsack will be a good old boy advocating for more subsidies and increased production of corn. Big strikeout on this selection.
Wednesday, December 17, 2008
Non-Paper Daily, 12.17.2008
*In yet another sign of the times, people are getting on welfare in significant numbers. Bailouts cost money, but so, too, does having massive unemployment.
*Things keep turning this way and that in the Minnesota senate recount. Both campaigns are challenging ballots and now they are bringing back previously-dropped challenges. A couple days ago it looked like we may have a winner as early as tomorrow, but now it looks like there may be a long road ahead. The winner is someone who will be serving for six years and, with incumbent reelection rates what they are, probably longer. I say take your time and get it right.
*Today Time named Barack Obama its "Person of the Year." No surprise there considering most president-elects win the award in the year they win and, whether you agree with the guy or not, Obama truly revolutionized campaign fundraising and use of the internet in campaigning all while energizing the nation like no political figure has done since Bobby Kennedy.
*Things keep turning this way and that in the Minnesota senate recount. Both campaigns are challenging ballots and now they are bringing back previously-dropped challenges. A couple days ago it looked like we may have a winner as early as tomorrow, but now it looks like there may be a long road ahead. The winner is someone who will be serving for six years and, with incumbent reelection rates what they are, probably longer. I say take your time and get it right.
*Today Time named Barack Obama its "Person of the Year." No surprise there considering most president-elects win the award in the year they win and, whether you agree with the guy or not, Obama truly revolutionized campaign fundraising and use of the internet in campaigning all while energizing the nation like no political figure has done since Bobby Kennedy.
OPEC Cuts Production
The Organization of the Petroleum Exporting Countries, or OPEC, announced today that they are cutting production by 2.2 million barrels per day. To put that number into perspective, world oil consumption is 80-85 million barrels per day, so they are cutting production by about %3. Additionally, Russia and Azerbaijan, two non-OPEC oil producers, also announced production cuts.
This is not a trivial amount, however oil prices did not immediately go up today in response to the news. Basic economic theory predicts that a cut in supply will increase the price, which is exactly what these countries are trying to do. Rather than sell their product at $45/barrel, it makes a whole lot more sense to sell it for $60, $70, or $80+. Keep in mind that their oil reserves are finite--eventually it's going to run out--so they want to make as much money as possible while they still have it.
As an aside, simply because it is incredible, let's work out daily worldwide oil consumption. One barrel of oil is 42 gallons. Humans use 80-85 million barrels a day, which is about 3.5 billion (billion!) gallons of gas per day. In a world where billions of people do not even have a car, humans consume about half a gallon per person, per day. This average is misleading because people in countries like the United States use a much higher percentage. Pretty astounding numbers.
This is not a trivial amount, however oil prices did not immediately go up today in response to the news. Basic economic theory predicts that a cut in supply will increase the price, which is exactly what these countries are trying to do. Rather than sell their product at $45/barrel, it makes a whole lot more sense to sell it for $60, $70, or $80+. Keep in mind that their oil reserves are finite--eventually it's going to run out--so they want to make as much money as possible while they still have it.
As an aside, simply because it is incredible, let's work out daily worldwide oil consumption. One barrel of oil is 42 gallons. Humans use 80-85 million barrels a day, which is about 3.5 billion (billion!) gallons of gas per day. In a world where billions of people do not even have a car, humans consume about half a gallon per person, per day. This average is misleading because people in countries like the United States use a much higher percentage. Pretty astounding numbers.
The Rich
I read a fascinating blog about the rich getting uber rich in the last few decades while, simultaneously, their tax burden is smaller. Sounds like a good gig for them. Unfortunately that means the rest of us are making less money and paying higher tax rates.
Billionaire Warren Buffet, one of the world's richest men, has famously explained how he pays a lower tax rate than his secretary. It is simply wrong that the richest people are not paying the highest tax rates, that is core principle of a progressive system of taxation.
A snippet:
That's absurd.
Billionaire Warren Buffet, one of the world's richest men, has famously explained how he pays a lower tax rate than his secretary. It is simply wrong that the richest people are not paying the highest tax rates, that is core principle of a progressive system of taxation.
A snippet:
So there you have it. The top 400 taxpayers, a group so rich and elite that I'd need scientific notation to properly represent their proportion of the population, have doubled their share of income in the past decade or two but have decreased their tax burden by nearly half. Nice work! As you can see, Warren Buffet wasn't exaggerating when he said his secretary paid a higher tax rate than he does. If she pays more than 18% — not exactly a tough hurdle when you figure that payroll taxes already account for about 8% of that — she probably does.
That's absurd.
Tuesday, December 16, 2008
How They Make Me Laugh
Yesterday while reviewing for a test this exchange occurred:
Teacher: What company did Queen Victoria hire to explore the Nile River?Correct.
Student: The YMCA!
Non-Paper Daily, 12.16.2008
*The Federal Reserve cut a key interest rate to nearly zero in hopes of urging our economy away from depression. The Fed has been cutting interest rates regularly for months now and they essentially can go no further. It is a bit disconcerting when the tools in their toolbelt can no longer be deployed.
*Obama named Chicago school's chief Arne Duncan as the next Secretary of Education. Fairly bland pick. The guy is an old friend and basketball buddy who Obama has known for years. He could have done better. I see the problems with our education system every day and I'm in a good school setting. Here was an area Obama could have picked someone with big ideas and he chose to play it safe. Unfortunate.
*New York politicians are looking into an %18 tax increase on soda. Their rationale: It's a way to generate revenue that will be used to treat obesity that is caused, in part, by soda. I haven't read the details, but philosophically I'm a fan. Gas taxes pay for road repairs. Cigarette taxes pay for anti-youth smoking campaigns. Etc. They taught us in the education program that the punishment should always fit the crime. Often the same principle can be applied to taxes: the tax should fit the expenditure.
*Obama named Chicago school's chief Arne Duncan as the next Secretary of Education. Fairly bland pick. The guy is an old friend and basketball buddy who Obama has known for years. He could have done better. I see the problems with our education system every day and I'm in a good school setting. Here was an area Obama could have picked someone with big ideas and he chose to play it safe. Unfortunate.
*New York politicians are looking into an %18 tax increase on soda. Their rationale: It's a way to generate revenue that will be used to treat obesity that is caused, in part, by soda. I haven't read the details, but philosophically I'm a fan. Gas taxes pay for road repairs. Cigarette taxes pay for anti-youth smoking campaigns. Etc. They taught us in the education program that the punishment should always fit the crime. Often the same principle can be applied to taxes: the tax should fit the expenditure.
Bailout the Failures
Yet one more reason the Bush Administration is just a bunch of douchebags.
Congress insisted that in order to pass the bank bailout bill then the provided funds could not be used to give bank executives (the very executives that ran these banks into the ground) massive compensation packages. The Washington Post reported yesterday, however, that the Bush Administration slipped one sentence into the final bank bailout bill that took all the bite out of that provision.
There you go, our finest at work. Just a little more than a month to go.
Congress insisted that in order to pass the bank bailout bill then the provided funds could not be used to give bank executives (the very executives that ran these banks into the ground) massive compensation packages. The Washington Post reported yesterday, however, that the Bush Administration slipped one sentence into the final bank bailout bill that took all the bite out of that provision.
There you go, our finest at work. Just a little more than a month to go.
Subscribe to:
Posts (Atom)
