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Footnote: The challenge if you plan to buy this book is finding a classic edition. The mass paperbacks available in B&N features much too small a print for my liking!
Karthik's Two Cents on a Range of Issues including Politics, Religion, Social Issues, the Environment, Economics, and Everything Else Under the Sun!
it's the result of a simple chemical reaction. Asparagus contains a sulfur compound called mercaptan... When your digestive tract breaks down this substance, by-products are released that cause the funny scent... But not everyone has this experience. Your genetic makeup may determine whether your urine has the odor -- or whether you can actually smell it. Only some people appear to have the gene for the enzyme that breaks down mercaptan into its more pungent parts ... The ability to smell the by-products may also be genetic. Another study published in the same journal found that 10% of a group of 300 Israeli Jews could not detect the odor. In other words, a person's urine could smell, but he or she might not know it.
It is difficult to understandth e public policy towards AIDS -- it is the first time in the history of civilization in which the carriers of a genuine plague have not been isolatedf rom the generalp opuiation,a nd in which this deadlyd iseasefo r which there is no cure is being treated as a civii rights issue instead of the true health crisis it represents.
You are right because you called wives to graciously submit to their husband's sacrificial leadership.
Jan Hatzius of Goldman Sachs forecasts a recession and that the growing credit crunch will reduce lending by about $2 trillion
Palm was wildly successful with organizers; then they introduced the unreliable and unremarkable Treo, essentially an organizer that makes phone calls as well ... BlackBerrys are great at e-mail, but the phone is barely adequate. The Motorola Q crashes almost as often as the Treo. The Apple iPhone is terrific for music and media, but lousy for e-mail and phoning. For marketing reasons, everybody is trying to cram all these complicated features into ever-sleeker, ever-thinner boxes, while also adding longer battery life, and so on. Invariably, smart-phone designers have to make compromises that mean some functions don't work especially well.
Elroy Dimson, Paul Marsh and Mike Staunton of the London Business School examined the record of 16 stockmarkets which were in continuous operation over the course of the 20th century. In itself, this selection showed survivorship bias by excluding the likes of Russia and China. The academics found that only three other countries could match the American record of having no 20-year periods with negative real returns. Other investors were far less lucky. Japanese, French, German and Spanish investors all suffered instances where they had to wait 50-60 years to earn a positive real return; in Italy and Belgium, the waiting period stretched to 70 years. It was no good following the famous advice to “put the shares in a drawer and forget about them”; the furniture would not have lasted that long.
You get to sin, but you get to buy your way out of it. It's sort of silly. It's like buying tofu offsets to be able to eat a hamburger.
World War I | 116,708 |
World War II | 131,028,000 |
Vietnam | 58,209 |
Korea | 36,516 |
Iraq | 3,278 and counting |
Goldman Sachs admitted as much when it said that its funds had been hit by moves that its models suggested were 25 standard deviations away from normal. In terms of probability (where 1 is a certainty and 0 an impossibility), that translates into a likelihood of 0.000...0006, where there are 138 zeros before the six. That is silly.
Contrary to the apparent belief of investors, the Fed did not shift its policy, nor did it “bail out” the mortgage-backed securities market by “buying” them from banks. What actually happened is that the Federal Funds rate shot to about 6% on Friday morning, and the FOMC brought it down to its target rate by entering into 3-day repurchase agreements . The banks sold securities to the Fed on Friday, and are obligated to buy them back from the Fed on Monday at the sale price, plus interest. Such open market operations are designed to ease the immediate demand for liquidity, and to give the banks and dealers more time to find buyers in the open market for the securities they are trying to liquidate.
Kevin Hazlett, a lawyer, sued Farmers Group after an April 2006 tornado struck his home in O'Fallon, Illinois. Farmers had offered to pay him $470,000 to rebuild the house. Royal Construction Inc., based in Collinsville, Illinois, estimated the cost at $1.1 million. Hazlett, 52, accepted a settlement for an undisclosed amount.
Bo Chessor, owner of Royal Construction, says he sees insurers refusing to pay coverage limits all the time. ``Most people just roll over and take it because they don't have the money to fight it,'' Chessor says. ``What the insurance companies are doing is purely robbery.''
It may be robbery, but it's rarely a crime. State insurance departments don't prosecute insurance companies, and the federal government has no oversight. The insurance industry wants to keep it that way.
This year alone, [Cayahoga country treasurer] Rokokis expects 17,000 foreclosures in his county. He blames careless, even abusive mortgage lending. According to Cayahoga county statistics, just one lender, Argent Mortgage, has seen about 25 percent of its loans in Cleveland go under.
I pray that this event ends global warming the same way that Live Aid ended world hunger.
There are also some doubts about how much [higher fuel efficiency standards] will actually do to reduce greenhouse emissions, because there are all sorts of strange incentives where you -- if you make cars -- if you basically make it more efficient to drive cars, people will drive more. And the horn of dilemma of energy politics is what really drives concern about this energy in this country, at the gut level for most people, is high gas prices. And if you really want to fight global warming and try to reduce our carbon emissions, the cleanest, easiest, most rational way to do it would to make the price of gas even higher through very stiff gas prices. And, of course, that's what no one is willing to contemplate or talk about.
[Presidential candidates Clinton, Obama, Romney are] all echoing President Bush. At the start of the year, the president told a Delaware audience that he thinks it appropriate to spend taxpayers' money on new energy technologies. Does anybody remember that we've been here before? In the 1970s, the Carter administration spent — sorry, invested — tens of billions of dollars to develop alternatives to imported oil. The results? The Synfuels Corporation — one of the most flagrant boondoggles in American economic history. A market-flunking exercise that made even the farm program look like sound public policy. Why would anyone want to go down that road again? ...
There's only one way to bring oil alternatives to market: keep energy prices high, with tax increases if necessary. Under that price umbrella, entrepreneurs, firms, and consumers will develop their own next-best solutions — cutting back on consumption, devising substitutes and so on. ... But no politician wants to tell voters that they have to pay more for fuel to achieve energy independence. Instead, they offer delusions that government investors can somehow do what trillions of dollars in private capital cannot: discover a cheap and abundant alternative to oil that will deliver cleaner fuel at lower prices.
Corporate bonds rated Baa, the lowest Moody's investment rating, had an average 2.2 percent default rate over five-year periods from 1983 to 2005, according to Moody's. From 1993 to 2005, CDOs with the same Baa grade suffered five-year default rates of 24 percent, Moody's found.
What's the alternative, Ray? We deport 12 million people? We spend $240 billion a year over the next five years to do that? That's more than the DHS [Department of Homeland Securitty] budget.
I am not an advocate for frequent changes in laws and constitutions, but laws and institutions must go hand in hand with the progress of the human mind. As that becomes more developed, more enlightened, as new discoveries are made, new truths discovered and manners and opinions change, with the change of circumstances, institutions must advance also to keep pace with the times. We might as well require a man to wear still the coat which fitted him when a boy as civilized society to remain ever under the regimen of their barbarous ancestors.
... anything that happens cannot hurt economic growth. I care about the working people of the country but also because in order to solve the greenhouse gas issue over a longer period of time, it's going to require new technologies, which tend to be expensive.
Well, in the United States, the average individual in America, we spend about 8 percent of our income on food. They spend about 15 percent in Europe, and about 20 pecent in Japan. So if you've been to Europe and you've been to Japan the quality of their food on average, in my opinion, is higher than it is in the United States. Americans make a tradeoff; we trade off less expensive food and it's not as good and we're also if you look around we're suffering an obesity crisis in the United States; we eat a lot of crappy food in the United States.
And we could afford to eat better. But we are . . . we have come to believe that we're entitled to cheap food, not understanding that there's a direct relationship between quality and how much something costs. We don't make that . . . if you think about the other parts of our lives, we know that automobiles vary tremendously in quality as does computers, as does stereo equipment as does cameras as does every other part of our lives, but in food we somehow or another think God, we really need to buy the cheapest stuff possible and we kind of treat our bodies not very respectfully.