БЛОГ

Archive for the ‘economics’ category: Page 102

May 29, 2012

Spiralling Debt & The Road to Breaking Point

Posted by in categories: business, economics, ethics, finance, sustainability

The biggest challenge to the ‘ecosystem’ of world economics that keeps society ticking over is how to overcome our inability to regulate a sustainable economic model. In Europe at present we are undergoing the difficult measures in setting about rules of austerity to ensure that government borrowing never gets as out of hand as it has done on our watch. I post on this topic now as it is topical to me — back home here in my native Ireland we are voting on a referendum this week to ensure we no longer borrow from our children to fuel indulgences today — a referendum on rationality and responsibility.

The topical of austerity reminds me of an opinion I blogged on a crisis in the Obama administration last August on national debt in the light of striking comments from foreign figureheads amid the storm from the ‘Tea Party Taliban’. I share with you for to see if anyone cares to comment on an operandi of living like parasites off the global economy:

Living Like Parasites Off The Global Economy, originally written 3 Aug 2011:

With the US in turmoil over its national debt, and held to ransom by a ‘Tea Party Taliban’, last week China publicly mocked American democracy. Yesterday, the world witnessed the humbling of America after a trillion-dollar deal marked the end of an era for the US. The US now faces a shift in its relations with creditor nations, and it was not all too surprising to hear Vladimir Putin, the Russian Prime Minister, yesterday accusing Americans of living “like parasites off the global economy”. If America had defaulted on its international debt obligations, that is exactly what it would be. While America continues to service it’s debt, it is quite the opposite — for now at least- as is perpetually paying interest to its creditors.

Continue reading “Spiralling Debt & The Road to Breaking Point” »

May 23, 2012

Will Student Loans Cause an Economic Armageddon?

Posted by in category: economics

Note: This article originally appears on WealthLift.com and can be seen here.

In 2006, the underpinnings of the American financial system began to crack from a speculative bubble in the country’s housing market. Fueled by irrational exuberance in which homeowners believed their home prices would rise forever, this was made worse by Main Street and Wall Street, both of whom repackaged mortgage loans for sale to everyday investors through a process called securitization. That’s right, this was a multipronged problem, not the hell-bent desires of a few financial fat cats, as Occupy Wall Street would have you believe.

When the bubble burst and home prices began to decline, this not only hurt the original lender, but also every investor that held a piece of a mortgage-backed asset. Imagine this process like a moldy pie that no one realizes is bad. Originally, the entire pie is held by one bank. Next, pieces of this pie are sold to other banks, pension funds, hedge funds, and anyone else that has an appetite. Soon enough, however, everyone holding this pie has gotten sick. Well, this happens with all kinds of assets, including car loans, credit cards and student loans. The benefit of securitization is that it allows organizations to grant more loans to people like you and me, but the downside is that it exposes the entire economy to the financial woes of an individual market. Without securitization, what happened in the housing market would have likely stayed in the housing market.

Six years later, many people are crying that the same thing will happen to the student loan market. While disbelievers can claim that these are just ‘cynics’ whose views are skewed by the world’s ongoing economic turmoil, a basic investigation into the matter yields some worrying results.

Continue reading “Will Student Loans Cause an Economic Armageddon?” »

May 14, 2012

From Global Crisis — A Planetary Defense?

Posted by in categories: asteroid/comet impacts, defense, economics, ethics, events, existential risks, futurism, geopolitics, lifeboat, military, nuclear weapons, policy, rants, space, treaties

Russia’s hastily convened international conference in St. Petersburg next month is being billed as a last-ditch effort at superpower cooperation in defense of Earth against dangers from space.

But it cannot be overlooked that this conference comes in response to the highly controversial NATO anti-ballistic missile deployments in Eastern Europe. These seriously destabilizing, nuclear defenses are pretexted as a defense against a non-nuclear Iran. In reality, the western moves of anti-missile systems into Poland and Romania create a de facto nuclear first-strike capability for NATO, and they vacate a series of Anti-Ballistic Missile Treaties with the Russians that go back forty years.

Deeply distrustful of these new US and NATO nuclear first-strike capabilities, the Russians announced they will not attend NATO’s planned deterrence summit in Chicago this month. Instead, they are testing Western intentions with a proposal for cooperative project for near-space mapping, surveillance, and defense against Earth-crossing asteroids and other dangerous space objects.

The Russians have invited NATO members as well as forward-thinking space powers to a conference in June in Petrograd. The agenda: Planetary defense against incursions by objects from space. It would be a way of making cooperative plowshares from the space technologies of hair-trigger nuclear terror (2 minutes warning, or less, in the case of the Eastern European ABMs).

It’s an offer the US and other space powers should accept.

Apr 16, 2012

One Key to The Future is Financial Clarity

Posted by in categories: business, economics, education, finance

On the cusp of graduation, I’ve had two major realizations in college.

One: most of America’s worst economic crises have been a result of financial obscurity. The first major crash in my lifetime was in the tech bubble of the early 2000s, where Wall Street traders were overrating the quality of Internet stocks. Once the broader market realized this, the values of many tech companies were obliterated. Millions of investors exposed to this sector lost their entire investments because they were unaware of these misrepresentations. In the most last recession, where lenders were underrating the riskiness of homeowners and financial institutions were securitizing riskier-than-advertised mortgages, millions of investors lost their entire investments yet again because they were unaware of further misrepresentations.

Two: economic history repeats itself, even if as a society, we might be aware of this pattern. Taking these two market crises as an example of this bleak fact about our species, it seems that we’ll always have the shortest of memories. In this case, history repeated rather quickly – twice in the span of a decade. Is it possible that people are cognizant of a recurring mistake before it happens, even if it’s happened before in their lifetimes? Most likely not, if the last recession is any example. A significant number of real estate professionals, banking gurus, and regulators were responsible for inflating a price bubble in the housing market, even though some fraction should have been economically conscious enough to understand the problems that would eventually arise.

The question then remains: is there a way to solve both of these problems, assuming the best of all possible worlds? Yes. Imagine a place where peoples’ understandings of basic economics and financial practices was commonplace, where a homeowner and a lender had an equal comprehension of a mortgage, where a hard-working breadwinner knew the dangers of payday loans, and where a child could sit side-by-side with his or her parents while overseeing family finances. All of these possibilities – and more – can come into fruition if we as individuals place a greater emphasis on financial awareness. Note: I don’t say “financial learning” because all of these concepts are innate to us, though hidden by verbiage and stigma. Whether we like it or not, if our career is in finance or not, we must come to terms with the economic world that surrounds us.

Continue reading “One Key to The Future is Financial Clarity” »

Apr 14, 2012

Earth’s Titanic Challenges

Posted by in categories: asteroid/comet impacts, complex systems, economics, ethics, existential risks, finance, fun, geopolitics, homo sapiens, human trajectories, lifeboat, media & arts, rants
RMS <em>Titanic</em> Sails

What’s to worry? RMS Titanic departs Southampton.

This year marks the 100th anniversary of the Titanic disaster in 1912. What better time to think about lifeboats?

One way to start a discussion is with some vintage entertainment. On the centenary weekend of the wreck of the mega-liner, our local movie palace near the Hudson River waterfront ran a triple bill of classic films about maritime disasters: A Night to Remember, Lifeboat, and The Poseidon Adventure. Each one highlights an aspect of the lifeboat problem. They’re useful analogies for thinking about the existential risks of booking a passage on spaceship Earth.

Can’t happen…

Continue reading “Earth's Titanic Challenges” »

Feb 10, 2012

The Greenland Ice Sheet Melt: Irreversible Implications

Posted by in categories: economics, engineering, existential risks, habitats, sustainability

It is of course widely accepted that the Greenland icesheet is melting at an alarming rate, accelerating, and is an irreversible process, and when it finally does melt will contribute to a rise in sea levels globally by 7 meters. This is discounting the contribution of any melt from the West Antarctic ice sheet which could contribute a further 5 meters, and the more long term risk of East Antarctic ice sheet melt, which is losing mass at a rate of 57 billion tonnes per year, and if melted in entirety would see sea levels rise by a further 60 meters.

In this light it is rather ‘cute’ that the site here dedicated to existential risks to society is called the Lifeboat Foundation when one of our less discussed risks is that of world-wide flooding of a massive scale to major coastal cities/ports & industries right across the world.

Why do we still continue to grow our cities below a safe limit of say 10 meters above sea level when cities are built to last thousands of years, but could now be flooded within hundreds. How many times do we have to witness disaster scenarios such as the Oklahoma City floods before we contemplate this occurring irreversibly to hundreds of cities across the world in the future. Is it feasible to take the approach of building large dams to preserve these cities, or is it a case of eventually evacuating and starting all over again? In the latter case, how do we safely contain chemical & nuclear plants that would need to be abandoned in a responsible and non-environmentally damaging procedure?

Let’s be optimistic here — the Antarctic ice sheets are unlikely to disappear in time scales we need to worry about today — but the Greenland ice sheet is topical. Can it be considered an existential risk if the process takes hundreds of years and we can slowly step out of the way though so much of the infrastructure we rely on is being relinquished? Will we just gradually abandon our cities to higher ground as insurance companies refuse to cover properties in coastal flooding areas? Or will we rise to a challenge and take first steps to create eco-bubbles & ever larger dams to protect cities?

Continue reading “The Greenland Ice Sheet Melt: Irreversible Implications” »

Jan 16, 2012

Post Einsteinian Language?

Posted by in categories: biological, complex systems, cosmology, economics, education, ethics, evolution, futurism, habitats, homo sapiens, human trajectories, humor, media & arts, philosophy, policy, rants, scientific freedom, sustainability, transparency

Twenty years ago, way back in the primordial soup of the early Network in an out of the way electromagnetic watering hole called USENET, this correspondent entered the previous millennium’s virtual nexus of survival-of-the-weirdest via an accelerated learning process calculated to evolve a cybernetic avatar from the Corpus Digitalis. Now, as columnist, sci-fi writer and independent filmmaker, [Cognition Factor — 2009], with Terence Mckenna, I have filmed rocket launches and solar eclipses for South African Astronomical Observatories, and produced educational programs for South African Large Telescope (SALT). Latest efforts include videography for the International Astronautical Congress in Cape Town October 2011, and a completed, soon-to-be-released, autobiography draft-titled “Journey to Everywhere”.

Cognition Factor attempts to be the world’s first ‘smart movie’, digitally orchestrated for the fusion of Left and Right Cerebral Hemispheres in order to decode civilization into an articulate verbal and visual language structured from sequential logical hypothesis based upon the following ‘Big Five’ questions,

1.) Evolution Or Extinction?
2.) What Is Consciousness?
3.) Is God A Myth?
4.) Fusion Of Science & Spirit?
5.) What Happens When You Die?

Even if you believe that imagination is more important than knowledge, you’ll need a full deck to solve the ‘Arab Spring’ epidemic, which may be a logical step in the ‘Global Equalisation Process as more and more of our Planet’s Alumni fling their hats in the air and emit primal screams approximating;
“we don’t need to accumulate (so much) wealth anymore”, in a language comprising of ‘post Einsteinian’ mathematics…

Continue reading “Post Einsteinian Language?” »

Jan 14, 2012

Why The #Occupy Movement Has No Chance, Yet

Posted by in category: economics

I’ve spent some time thinking about what the #Occupy movement is really representing. I’ve tried to attend the camps as I’ve traveled and interview the people in the camps; as well as, their formidable opponents in the ownership positions of the respective societies that Occupiers exist.

I think that I’m comfortable echoing the analysis in that Occupiers have done a good initial job in comparison to similar movements around the world and in the United States in particular. They’ve caught the attention of the masses, in that everyone knows what #Occupy means. Of course the problems of any fledgling movement are that its priorities aren’t hashed (#) out. While everyone knows what #Occupy is; no one has any idea of what it wants, or rather, needs.

Every movement-struggle-jihad, has is a battle of philosophy on how a society should exist versus how it does. Based on the consistent and more frequent collapse in the economic system, it is evident that we are due for some structural change in the modern world. When I listen to the rhetoric of this movement and the defense of its identified opponents, I think the following apply. There is a clash of ideals on whose altruism is not only virtuous but most beneficial. On the one hand we have that of the individuals, formally represented by the #Occupiers. On the other we have that of the institutions, formally represented by their owners/stakeholders. While individuals (humans in this case) can allocate a moral regard to their fellow man/woman based on their acknowledgment of his/her intrinsic or extrinsic value, institutions do not. Yet some individuals can advocate the virtues of an institution because for their holding that the institution’s incentives to take action better the society as a whole.

Continue reading “Why The #Occupy Movement Has No Chance, Yet” »

Jan 13, 2012

Verne, Wells, and the Obvious Future Part 2

Posted by in categories: asteroid/comet impacts, biotech/medical, business, defense, economics, education, engineering, ethics, events, evolution, existential risks, futurism, life extension, lifeboat, media & arts, military, nuclear weapons, philosophy, physics, policy, space

I am taking the advice of a reader of this blog and devoting part 2 to examples of old school and modern movies and the visionary science they portray.

Things to Come 1936 — Event Horizon 1997
Things to Come was a disappointment to Wells and Event Horizon was no less a disappointment to audiences. I found them both very interesting as a showcase for some technology and social challenges.… to come- but a little off the mark in regards to the exact technology and explicit social issues. In the final scene of Things to Come, Raymond Massey asks if mankind will choose the stars. What will we choose? I find this moment very powerful- perhaps the example; the most eloguent expression of the whole genre of science fiction. Event Horizon was a complete counterpoint; a horror movie set in space with a starship modeled after a gothic cathedral. Event Horizon had a rescue crew put in stasis for a high G several month journey to Neptune on a fusion powered spaceship. High accelleration and fusion brings H-bombs to mind, and though not portrayed, this propulsion system is in fact a most probable future. Fusion “engines” are old hat in sci-fi despite the near certainty the only places fusion will ever work as advertised are in a bomb or a star. The Event Horizon, haunted and consigned to hell, used a “gravity drive” to achieve star travel by “folding space.” Interestingly, a recent concept for a black hole powered starship is probably the most accurate forecast of the technology that will be used for interstellar travel in the next century. While ripping a hole in the fabric of space time may be strictly science fantasy, for the next thousand years at least, small singularity propulsion using Hawking radiation to achieve a high fraction of the speed of light is mathematically sound and the most obvious future.

https://russian.lifeboat.com/blog/2012/09/only-one-star-drive-can-work-so-far

That is, if humanity avoids an outbreak of engineered pathogens or any one of several other threats to our existence in that time frame.

Continue reading “Verne, Wells, and the Obvious Future Part 2” »

Nov 28, 2011

Video — U.S. Job Market — People Staying in Jobs Longer

Posted by in categories: business, economics, philosophy

Video — U.S. Job Market — People Staying in Jobs Longer — WSJ.com.

The Cleveland Fed shows research that people staying in jobs for longer periods of time is requiring adding the economic shock of any crisis where lay-offs or retraction is involved. The problem with this is that research also shows that people out of work are less likely ever re-enter the work force.

While economists (per the this interview) wouldn’t look at this as a “structure problem” because of the forecasted potential for worker volume to return, it is likely that their opinions are a bit too faithful in the existing model of compensating laborers for a honest days work. The enduring jobs crisis can and should of course be looked at as an economic issue and even a political issue, but it would likely be better pursued as a socio-cultural and a legal issue.

Continue reading “Video — U.S. Job Market -- People Staying in Jobs Longer” »

Page 102 of 104First979899100101102103104