Massive Power Outage in Central FLA
Bad times in Central Florida.
No word on cause, yet.
4 million people without AC. Even in Feb, that's a problem down there.
Credibly promising to be irresponsible...since 2004!
Bad times in Central Florida.
Bernanke and the Fed have been cutting rates like there's no tomorrow. Frequent, large cuts. Trichet and the ECB have been standing pat. No cuts and rhetoric like there's not going to be cuts. Last month I mused that this was an interesting natural experiment about which way was the best way.
Bookseller Magazine has announced the shortlist for its annual Diagram Prize for the oddest titled book. Here are the nominees:
Motivated to Penalize: Women's Strategic Rejection of Successful Women
It's another Japanese entry. The Michelin Guide has started giving out stars for Tokyo restaurants; many say thanks but no thanks!
"Many prominent figures of the Tokyo food world, however, are saying to Michelin, in effect, thanks for all the attention (which we deserve), but you still do not know us or our cuisine.
Food critics, magazines and even the governor of Tokyo have questioned the guide’s choice of restaurants and ratings. A handful of chefs proudly proclaimed that they had turned down chances to be listed. One, Toshiya Kadowaki, said his nouveau Japonais dishes, including a French-inspired rice with truffles, did not need a Gallic seal of approval.
“Japanese food was created here, and only Japanese know it,” Mr. Kadowaki said in an interview. “How can a bunch of foreigners show up and tell us what is good or bad?”
With all the doubts about Michelin’s understanding of Japanese tastes, some chefs say a rating in the guide has become a liability. Kunio Tokuoka, head chef at the high-end restaurant Kitcho, said the main Tokyo branch of his restaurant refused a listing in Michelin for fear of turning off customers seeking authentic Japanese cuisine."With progress like this, I can see Japan opening up its markets and a grand Doha deal blooming any day now!!
One thing we as a nation are still good at is creating mindless catchphrases:
From the NY Times: Millions of Americans are giving up golf!!
Steve Kerr has to be thrilled. He rolled the dice and they came up Diesel. In Shaq's first two games with the Suns, they have out-rebounded their opposition 46-33 and 50-32. For the season (including these two games) the Suns get out-rebounded on average by 46 to 41. You gotta control your own backboard to win championships and the Suns have never been able to do that up til now.
Marc A on "Web 2.0"
KPC friend Gabriel recently ripped econ bloggers for no longer posting about economics (lol, imagine that!).
A blog entry reporting on a new seismic theory.
Wow the J-Kidd trade by Dallas was HORRIBLE (note that this has a chance of actually being true). Kidd looked like the middle aged wife-beater that he is last night as Chris Paul ran rings abound him and the Hornets beat the Mavs.
After reading Tyler on travel, we got ourselves busy and.....
Interesting. Do I get to carry a portable device that blocks cell phone reception in an area?
Strange ideas about property.
Hizzoner the Mayor speaks, on feature creep.
Anything I can do.....
Opposition parties together appear to have won a majority of seats in Pakistan's parliamentary elections. Musharraf's party is in third place, and many key figures in it lost their seats.
“ ”The results are clear, we lost. The outcome isn’t going to change,’ ” Biden quoted Musharraf as telling a delegation of three American senators that included Sen. Chuck Hagel, R-Neb., and Sen. John Kerry, D-Mass. “I’ve known him for a long time . . . He seemed like reality had set in.”
Biden told McClatchy that he believed that Musharraf, who assumed power in a military coup in 1999, would ask one of his opponents to form a new government. Whether he would then step into the background “will depend on how the coalition government is formed and how he is treated personally.”
Musharraf made no public statement about the elections, whose final results were not expected till Tuesday night or Wednesday. But unofficial tallies by Pakistani newspapers and television channels and partial official returns showed the party that has backed Musharraf, the Pakistan Muslim League-Q, heading for massive defeat.If it stands, this is good news. Pakistan tops my list of scariest countries in the world and to see the election go through with secular opposition parties forming a government is a great outcome.
No, not that. But the folks at Long or Short Capital and Fire Joe Morgan have each put out comedic gems. Note that there is more than a fair amount of profanity in the FJM link.
Labels: public service announcements
An excellent candidate for KPC's "Grand Game"!
Labels: The Grand Game
Today we are discussing Tim Harford's chapter on cities, called "The World is Spiky". Special thanks to MR readers for swinging over to this dusty corner of the interwebs. Let me start by saying that Tim must be right, because the opposite position is “The World is Flat” and Thomas Friedman is always wrong! Secondly, this is a very fun book, highly recommended for the intelligent layperson (yes we economists are ordained in a secret ritual) or student of economics.
I am an NBA fan from way back. From Walt Bellamy and Cazzie Russell and Bob Lanier. I love basketball and the NBA allstar weekend, especially the dunk contest. And I have always thought that Vince Carter (as much as I disrespect his overall game) gave the greatest dunk contest performance ever back in 2000. You can see that show here (the last dunk is the best).
In today's NYT, Kristof (kind of) loves him some John McCain:
"It’s also striking that Barack Obama is leading a Democratic field in which he has been the candidate who is least-scripted and most willing to annoy primary voters, whether in speaking about Reagan’s impact on history or on the suffering of Palestinians.
All of this is puzzlingly mature on the part of the electorate. A common complaint about President Bush is that he walls himself off from alternative points of view, but the American public has the same management flaw: it normally fires politicians who tell them bad news."
A question: If this had been a for-profit hospital, would this have happened?
I've always been in favor of compulsory education financed by general taxation. I know, what a doofus. I'm cool with choice and vouchers and all that, but I always thought that the education revolution in the USA was an example of a very good thing that was facilitated, speeded up, or at least not completely screwed up by government.
Here is an issue of CATO UNBOUND, on "Is Limited Government Possible?"
Bobby Mugabe has been drowning his country in a sea of worthless currency for quite some time now. In March of 2006 the official inflation rate hit 900%. It turns out that those were the good old days. By the summer of 07, the inflation rate was had at least tripled from that level, and the IMF was forecasting that it would reach 100,000% in 2008.
At least 80 percent of the population is living below the poverty threshold, often skipping meals to stretch their income, which frequently fails to cover basic needs.
The government has introduced several measures to rein in inflation including imposing a ceiling on prices of some goods and services and knocking off three zeros from the country's currency.
The CSO last released the monthly inflation statistics to the media in September last year and the November figure was only released by the central bank chief in a statement last month.It's amazing how they make it sound like an exogenous event the government is doing its best to fight rather than calling it the deliberate policy of the government, i.e. Mugabe-omics.
First, Greg Mankiw fills me in on the cost per job allegedly to be created by the package: $336,000
Mitt Romney will endorse John McCain as the GOP nominee for president, CNN has learned.
Labels: Dog bites man
I probably should have avoided criticizing someone else' haircuts. Since, I mean, NO ONE knows more about bad haircuts than I do.
Mark Halperin said that Edwards thinks that Obama is "kind of a pussy."
Responding to a recent post, one of our more pointed commentators excoriated me for claiming that I feared for my wallet under an all Democratic Party Federal Government saying in part:
No, not that. They're both BIG IN JAPAN.
"At first we were more low-key aslooked to be ahead, but now we see he is getting more popular," Obama Mayor Toshio Murakami said.
"I give him an 80 percent chance of becoming president," the 75-year-old said with a proud grin.
Ladies and Gentlemen I implore you: Is there no McCain China out there to even things up a bit??
Article on economics of Valentine's Day in Oz.
Calderón's popularity in Mexico currently sits at 66%, up from 57% in November and this is the highest it's been during his Presidency so far. At the other extreme Lopez-Obrador (aka AMLO or el peje) has pretty much hit rock bottom. In another poll, 63% of PRD (AMLO's party) members say the next party leader should recognize Calderón as the legitimate president (which AMLO refuses to do) and 77% say the PRD should cooperate with Calderón in the legislature (which AMLO refuses to do). Here is an article in English about the trials of the Mexican Left.
And then HE said, get this, he said, "Oh, yeah? Well, YO mama is so fat, her blood type is RAGU!"
Great, just great. Not only are my stock portfolio and retirement portfolio totally in the tank, but now I find out I'm likely to need the money for a very long time!! Turns out it's EZ to live to 100 these days (Phone message for Robin Hanson: sell your freezer space!!!).
A larger study of men in their 70s found that those who avoided smoking, obesity, inactivity, diabetes and high blood pressure greatly improved their chances of living into their 90s. In fact, they had a 54 percent chance of living that long.
Their survival decreased with each risk factor, and those with all five had only a 4 percent chance of living into their 90s, according to.
Those who managed to avoid lifestyle-related ailments also increased their chances of functioning well physically and mentally two decades later.
The study followed 2,357 men for about 25 years or until death, starting in their early 70s. About 40 percent survived to at least age 90. Among survivors, 24 percent had none of the five risk factors.
"What's great about this country is that America started the tradition where the richest consumers buy essentially the same things as the poorest. You can be watching TV and see Coca-Cola, and you know that the President drinks Coke, Liz Taylor drinks Coke, and just think, you can drink Coke, too. A Coke is a Coke and no amount of money can get you a better Coke than the one the bum on the corner is drinking. All the Cokes are the same and all the Cokes are good. Liz Taylor knows it, the President knows it, the bum knows it, and you know it."
Angus, as usual, is TOTALLY insensitive to the plight of the working writer. The END of the nightmare? No, more like the beginning.
The essence of the "revise and resubmit" process of journal
Last week's anti-FARC protest in Colombia and around the world was impressive for two reasons. First, the magnitude of the demonstration. Via KPC friend Greg Weeks, here are a couple photos from Colombia:
Sometimes here at KPC, we play The Grand Game. TGG involves readers picking out the most appalling passage of something someone has written.
Either me or Hugo has it wrong, and given his infatuation with price controls as a way of dealing with high prices, I think it may be him. Anyway he's not happy with the British court ruling in favor of Exxon and freezing billions of Veneulan assets.
Ross Douthat writing in the NY Times (the whole article is worth reading):
Yes, our national nightmare is over. The TV writers are going back to work. As you might expect, they have some comments about the epic nature of their struggle:
"It's a historic moment for labor in this country," said Oscar-nominated WGA member Michael Moore, who attended themeeting.
Carmen Culver, a film and TV writer, lauded the guild "for hanging tough."
"It's a great day for the labor movement. We have suffered a lot of privation in order to achieve what we've achieved," Culver said.
And what, you ask, did they achieve? Well, I am no longer a trade unionist, but I'd have to say not very much:The writers deal (includes) a provision that compensation for ad-supported streaming doesn't kick in until after a window of between 17 to 24 days deemed "promotional" by the studios. Writers would get a maximum $1,200 flat fee for streamed programs in the deal's first two years and then get a percentage of a distributor's gross in year three.
TheYikes!!! , set for Sunday night, were not affected because they received a waiver allowing writers to work on them. But an end to the strike could permit resumption of work for the Feb. 24 show.
1. From the NYTimes, an article on anti-Chávez backlash within Argentina.
Why can't unca Johnny get no love?
All too often, physicists dabbling in economics just embarrass themselves, and infuriate me.
Angus and I agree on many things. But not McCain. He terrifies me.
A paper forthcoming in the QJE by Gabaix & Landier provides a straightforward answer:
Martin Weitzman has an excellent piece in the Sept. 07 American Economic Review that provides exactly that. He argues that papers using a Rational Expectations Equilibrium (REE) approach generate the equity premium puzzle (it's too big), the risk free rate puzzle (it's too low) and the equity volatility puzzle (it's too volatile compared to fundamentals), by incorrectly assuming that the underlying density generating growth shocks is known to agents. Simply replacing the known variance with an estimated variance (changing the normal density to a student-t density) can actually REVERSE the puzzles.
In a Newsweek article about the overselling of happiness, we are told many great people suffered dark moods. The examples are Aristotle, Vincent Van Gogh, Abraham Lincoln, and Morrissey!!
More greetings from Doha
Some great links that break it down for ya!
I guess it's high time we realized we are all just wards of the government and we better think twice before we become a financial burden to it. It turns out that there's no reason to fight obesity, because dying young is a real money saver. I am not making this up.
Tomorrow is the big day, and the conventional wisdom is that McCain will emerge with a stranglehold on the nomination while Obama and Clinton will still be in a dogfight.
1. Don't know much about history....
An actual email, received from an actual student, by an actual professor. I have changed details and names, to protect the "innocent."