Saturday, November 02, 2013

Jon Holmes and Waitrose

Jon Holmes is a writer, comedian and broadcaster who features on Radio 4's Now Show. This week he was being hilarious about people who shop at Waitrose (spoilt middle-class focaccia-fanciers etc - 8 minutes into this episode).

Jon Holmes lives in Canterbury, Kent, where he went to university.

His nearest Waitrose branch is:


The average asking price for a semi-detached house in Birmingham B28 (the location of my nearest Waitrose) is £205,431 (more than mine is worth, I'm afraid). In Canterbury it's £253,333.

There is a point, is there not, when an edgy comedian becomes part of the class he satirises. It used to be that they then started writing restaurant sketches, since presumably they'd given up cooking for themselves. We can only hope that it doesn't go so far with Jon. Equally, we hope that he's lost some of his rough Warwickshire ways* and now knows what furniture is for.

Anyone seen him down the flavoured olive oil aisle recently?

* "Despite his numerous awards Holmes has been sacked from a plethora of stations including Xfm, where he allegedly defecated into fellow presenter Dermot O'Leary's desk drawer live on air.." http://www.suchsmallportions.com/person/jon-holmes

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Friday, November 01, 2013

Intelligence and smarties



Let’s concoct a new theory of intelligence. It’s about time we had a new one because the old version looks as flaky as a Lib Dem policy. Just take a look at current energy policies if you don’t believe me - Lib Dems are in favour.

Right ho - to rectify this lamentable situation I’ve spent fifteen precious minutes dreaming up the basic building block of intelligent awareness called... wait for it...

The smartie.

It’s not an original use of the word, but what do you expect for fifteen minutes? A workable energy policy?... Hmm, bad example... anyway, here is the smartie theory in all its conceptual glory.

In essence, the more smarties you have and the wider your range of smarties, the smarter you are - in a genial kind of way because I think a nod to Santayana is somehow appropriate for smarties. If you want to know why, you’ll have to read him and acquire a whole shed-load of smarties.

So throughout daily life we have the option of acquiring more smarties - vitamins of the mind. Smarties come in numerous colours, shapes, flavours, sizes, sweetness, price and brands so those who collect only one flavour or those who focus on brand are not as smart as those who collect lots of different smarties. Especially the home made smarties, of which smartie theory itself is just one example!

For example, Nick Clegg only collects Nick Clegg and EU smarties, which makes him smart on these subjects only. He knows how the EU is likely to benefit Nick Clegg and virtually nothing else. There are no Lib Dem smarties by the way.

Those eccentrics who love nuances and breadth of vision also love all kinds of smarties and collect loads of them. This gives us the Smartie Rich or SR quotient – a much needed antidote to IQ. So a person with a high SR is smarter than Nick Clegg which we now know isn’t saying much but it’s progress of a kind. Progress Nick knows nothing about of course.

The elite classes only collect elite smarties, a narrow range of all the smarties on offer. So they never become smart - because they can’t. Prince Charles is a good example. In his position, with all that travel and cultural contact he should have a huge SR, but his social position narrows the possibilities before he even gets to choose. He only likes green smarties anyway.

Prince George will have the same problem – except he won’t even know because he won’t have a sufficiently wide range of smarties to tell him it’s a problem.

So it is with the political elite who only collect the smarties offered to them by lobbyists, flunkies, and smartie advisers who are in exactly the same smartie-delimted boat.

Smartie collecting is an essentially serendipitous activity driven by the sheer joy of discovery and the substantially lesser joy of changing your mind occasionally.

Smarties are usually minor discoveries such as nuances, aspects alternative emphases or poetic insights, but they are all grist to the smartie mill and raise one’s SR to quite dizzying heights of pure fancy.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

UK Sharia Bonds - ?

As part of the government's blitz of 'look what we're doing' announcements, we now have "Britain to become first non-Muslim country to launch sharia bond: David Cameron to unveil £200m Sukuk".  So what's going on here ?


a.  Political Significance

A couple of weeks ago I posted about how the UK is kow-towing to the Chinese as part of our economic escape plan.
"This is a particularly acute risk for the UK ... In our semi-detatched euro-positioning, our vulnerability to having the City isolated by jealous continental and American financial authorities, and our commendable centuries-old willingness to roam the high seas, we will always be inclined to 'trade our way out of trouble'. Now true commercial trade is a great thing and would indeed be the ideal way forward. But increasingly what we see is a baser trade: the prostituting of our institutions to the whim of Russian and Chinese wealth. If they want to lavish their money on our libel courts or Mayfair shops, that's one thing. But it won't be ending there. Today we see the first of the mega-bargains our desperate UK politicians will enter in order to engineer short- and medium-term relief from our woes. Faustian is just one way to describe it."
There, I was writing about the nuclear deal, but of course that was part of Osborne's Sino-package that included a putatively huge and strategic banking 'n' finance deal.  These are the kind of moves that can leave green-eyed Frankfurt and New York grasping vainly at thin air, reinforcing London as "the undisputed capital of the world".  At least, that's how the dream story-line runs.  Brown hoped to do the same, but Osborne is acting more decisively.

The sharia leg of this burgeoning development causes nervous murmurs on the home political front - see this piece at ConHome.  Should it ?  Given that in technical terms the distinguishing  features of sharia finance are, to the unbeliever, quirky to the point of quaint (see below), objectively the whole thing is a bit like the 'ethical investment' industry: why not let anyone who wishes to cut themselves off from the full range products, do so if they choose?

But obviously there is a heavyweight cultural overlay to this, and maybe objectively speaking is not enough.  I am 'relaxed' about all sorts of 'alien' business influences and ownerships in the UK.  To me it is part and parcel of what I take to be a very traditional British openness to trade and cultural curiosity (which, by the way, is only one strand of British tradition as I know full well).

But I am not remotely relaxed about the rule of UK law and for me there is a simple bottom line.  Provided all this UK sharia stuff is subject to the same banking regs as everything else (and these are enforced with the full force of law, see C@W  passim), let's go for the money and leave Frankfurt and New York fuming.  This proviso is not trivial, and not just because enforcement of banking regs had become a sick joke.  It must surely be the case that hawala transfers are routinely used to dodge western banking regulations (not to mention money laundering); and bringing any such system into mainstream scrutiny must be a highly desirable goal of policy - nay, even an imperialistic power-grab!

b.  Financial Aspects

Sharia finance properly analysed is a subset of general Finance-with-a-capital-f, delineated by some strict rules around interest-payments which must not feature in the story of what A pays to B.  Recalling the informal definition of a Swap - the exchange of cash flows between consenting adults - most sharia-compliant deals are what are known in the real world as total return swaps (TRS), and there is nothing scary or alien about them per se. Of course, they are a bit more complicated than plain vanilla loans etc - but so what?  Lots of financial instruments are.

Far from scary, putting aside the political stuff I'd say the whole thing is pretty amusing.  The restrictions that make these deals sharia-compliant remind one of nothing so much as the crazy, tortuous tax regulations which make certain kinds of (e.g.) UK film investments qualify for attractive tax breaks.  In other words, they are an adventure-playground for shyster tax-lawyers, and sharia will be just the same**.  The arguments over what counts as what; the twisted convolutions required to label interest payments as anything but interest, are hair-splitting sophistry - literally theological.  There already is a service industry around this, with "Islamic scholars" getting good money for certifying individual deals.  The People of the Book know all about this stuff, too, and what a gravy-train for the City it promises to be !
______________
** Just as with 'ethical investments', one imagines there are disappointments ahead for those who place great store by what they are being sold truly complying with the advertised principles.  I suppose that in some countries, anyone caught playing fast and loose with the sharia interest rules might have their parts cut off  ... a risk that the City boys will need to factor in for themselves, eh?  


This post first appeared on the Capitalists@Work blog

 
All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Thursday, October 31, 2013

Doglight

Pic source: http://www.aef.com/exhibits/awards/clio_awards/2005/11

America's 80 million dogs produce 11 million (US) tons of faeces every year, according to this article from NorthJersey.com, which is about DNA-testing the waste and prosecuting non-pooper-scooping owners.

What to do with it?

In these energy conservation conscious times, conceptual artist Matthew Mazzotta suggests using it as a power source for street lighting - see his Park Spark project here.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Wednesday, October 30, 2013

Quiz Night

We strolled a few yards up the damp road and into the pub. The board outside was there, advertising the competition for 8.30, but there was hardly anybody in. The gambling machine's display seemed to be keeping time with the piped music, until a man returned to it and fed in a tenner, which took several goes.

"It's full."

"I know, I'm trying to get some of it back out."

Gradually the entrants gathered: three chefs on our left, a couple of solitaries at this end of the bar, and a trio of regulars at the other end, hidden behind the pillar.

"We'll start at nine."

A man and his girlfriend dropped in to tell the owner about the funeral arrangements for a local who'd be known to others here, though he'd kept himself to himself.

Then we began. Welcome to the fourth pub quiz at the Castle. Googlers would be instantly disqualified. Prize a ten pound bar tab for the winner, and a packet of crisps for the best team name.  As Brummies, my wife said we should be the Peaky Blinders.

"Is there a picture round?"

We said it would be whoever could draw the best picture, but the barman handed us all a streakily-copied sheet of logos to identify.

A couple of years ago at the Waterman's, a big bloke had come in dressed as a Roman soldier and been thrown out for farting. The question-setter that time had been Lily, who'd escaped the dullness of Plymouth, but she's moved on again with baby and partner. Her sheets were full-colour and artistically illustrated.

Our host began squinting at his iphone and reading out questions.

"What type of monkey lives on the Rock of Gibraltar?"

"Orang-utans," said one of the chefs to his mates.

"Spaniards."

The lone wolves were comparing notes on the picture round.

"What element is needed for all forms of combustion?"

CO2 wasn't right when we came to mark a loner's sheet, but he can't have heard the barman remark "Another oxygen-related question" to the regulars round the corner.

Between rounds, the majority decamped to the pavement outside for a smoke, including Mine Host, leaving his taps vulnerable in the near-deserted bar. Stupid law.

A chef showed us a party picture on his phone, with two ghosts' heads in the group. Later, one of his mates suggested it could be done by someone changing position while the phone panned round. Post-quiz, a couple of girls turned up, one of whom had taken the pic, and she said they hadn't done that.

Next round. One of the loners left abruptly. He'd scored 5 out of 20, most questions not answered and the rest semi-legible. His response to "What do the letters RAM stand for in computing?" had been "ramofocation". (What do the letters THC stand for?)

Another chef came in and was updated on the ghosts.

"What are there twenty-six pairs of in the human body?"

We got an extra point for spelling chromosomes right. We had briefly considered "bollocks."

There was much anguish over what the C stood for in YMCA. And when asked what nuts were used in making pesto, the chefs agreed on cashews. Apparently the answer to "the butcher, the baker and the..." was not Old Mother Hubbard. The cry in fencing was what we'd put, "Touché!", not "Dun ya!" as they'd said - and there was no consolation point for correct punctuation.

Then there was the dispute with the quizmaster.

"What is the coloured part of the eve called?"

"Don't you mean eye?"

"No, there's no i in it."

"No, a y instead of a v."

"It definitely says eve," said the barman, screwing up his eyes and peering closer.

"If it's eye it's iris," said the remaining loner.

We settled for eye.

The Peaky Blinders struggled with the logos. Mercedes and Camel cigarettes were a cinch, but the double W defeated us (Wonder Woman) and the stylised R (Robin, Batman's partner). The head surrounded by a Greek wave motif turned out to be Versace.

The last question was impromptu, because of IT malfunction. "It's covered by the Google bar." "Move your thumb up." "I've done that."

So he thought and gave us, "What Spanish island did I spend a few months on when I was 21?"

"Alcatraz," said the loner.

"Majorca."

"No, it wasn't Majorca," said the barman.

We did our best.

The regulars beat us by two points, one of which I'd lost when I made my wife put yellow instead of white for the colour Wimbledon tennis balls used to be before they turned green. And we'd forgotten the candlestick in the six murder weapons in Cluedo; and it was a revolver, not a pistol (Mine Host had been very firm on that). The winners promptly left.

Best team name was between the chefs, who'd concocted something ending with a c followed by hunt, and the loner's Alone In The Dark. I gave my casting vote for the latter and the chefs accepted the justice of losing out for obscenity.

I stayed on for a half pint of lager while my wife went back to make a cheese and onion sandwich for me, but without onion as we'd used it up. The loner was a graphic designer who told me all sorts of interesting things about design, photography, maintaining copyright on the internet and making websites. He reckoned his 8-year-old child was ahead of him and you didn't need to be in London to go global any more.

A Hendrix documentary was on the screen behind us. I recalled seeing the news of his death as I walked into Newport bus station; AITD told me he'd covered it at college. Memory versus history. I told him what I'd only recently learned about how Bruce Lee had died (aspirin, the studio had spun -rubbish, it was Nepalese hash, especially dangerous if you had no body fat to absorb the toxins); he told me about his own martial arts expertise.

Home for a cheese sandwich, a shot of Chivas and the rest of Hendrix.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Tuesday, October 29, 2013

ICS: Transporting the poor



Classic fm is broadcasting an advert for ICS, a government-funded scheme launched in 2011 to fund volunteer work abroad for 18-25-year-olds, who "don’t need cash, skills or qualifications", says the official website. Wikipedia (and who wrote the entry?) adds, "Following their placements ICS volunteers embark on a community project on their return to the UK."

Worthy, I expect, and interesting and fulfilling - and upskilling - for the participants. But why restricted to that age group? Anything to do with employment statistics?

Next best thing to the Thames Hulks and transportation to the colonies, I suppose.

But this doesn't go far enough. How about "Club 60 - 105" for the indigent old, to work and teach in the Third World? A few quid a week per head and they're off our hands. There is some corner of a foreign field that is forever Poundland.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Sunday, October 27, 2013

Five climate arguments

The point of my recent Five climate futures post was to introduce the idea of future climate scenarios and their likelihood. To recap - how likely is each scenario and how do we know? 
  1. Unambiguous warming.
  2. Ambiguous warming.
  3. No change.
  4. Ambiguous cooling.
  5. Unambiguous cooling.

The short and obvious answer is that we have no idea. I estimated percentages based on how many there are. I know the estimates are illegitimate in any scientific sense, although I received only one challenge in the comments. Ah well.

The point is this – how do you estimate the likelihood of these climate scenarios using credible arguments? As far as I can see, there are five basic climate change arguments commonly encountered in the public domain. 
  1. Science with no predictive track record
  2. Appeals to authority.
  3. Rhetorical emotional appeals.
  4. Images – ice crashing into the sea etc.
  5. Abuse – overt, covert and parody

The debate is packed with nuances such the political use of exaggerated risk to control behaviour, but which of these arguments enables us to choose between the five climate scenarios do you think?

Well abuse can be fun and in my view has a useful place in the climate change debate, especially parody. If nothing else it holds before our tired eyes the absurdities of current energy policies and how we stumbled our way into this mess.

So let us humanise the whole debate and accept a more personal and emotional role in our own beliefs. Here are the crucial questions whereby I think we may get to grips with how little we know and how much we rely on authority :-

Which future climate scenario is your best guess?

Which argument supports your choice?

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.