Oh, what a surprise!

When things go wrong, the modern meme is to blame the “Law of Unintended Consequences”, which is the modern way of saying “it’s just God’s will”. However, in all too many instances, the “unintended” consequences could be easily predicted.

 Case 1: Most stocks are now owned by mutual funds. The fund managers are interested in fees, which means waiting for price increases, and selling the stocks. Their sole interest is short-term price gains. The CEO’s are hired with bonuses for price increases, and the only oversight is the Board of Directors (consisting of CEO’s of other companies), and the annual stockholder meeting (dominated by the fund managers). Then there is general surprise that many companies are managed for short-term stock price increases, and not for long-term performance!

 Case 2: Most US school systems have curricula which are dominated by methods courses, and very light on the content that they will teach. We put those ill-educated teachers into the field, and give them the message that any failure of a student means that the teacher is incompetent (I was told this by an education professor recently). We then test students and blame the teachers for every bad result. Why are we surprised at grade inflation and cheating on tests?

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.

Electric cars - a long gestation

Arnold Bennett clearly liked electric cars. They must have been the coming thing and maybe they were also seen as a hint that the machine age could produce more than dark satanic mills. Here are a few quotes.

Advantages.

Richard’s car ran through the cutting — it was electrical, odourless, and almost noiseless.

Mounting

He crept back to his own car, found it unharmed in the deep shadow where he had left it, and mounted.

Dismounting

Richard directed the car gently through the gate and then stopped; they dismounted, and crossed the great field on foot.

Range

This vehicle, new and in beautiful order, and charged for a journey of a hundred and twenty miles, travelled in the most unexceptionable manner. The two and a half miles to the North-Western station at Dunstable were traversed in precisely five minutes, in spite of the fact that the distance included a full mile of climbing. 

Teresa of Watling Street (1904)

Intimacy

The electric brougham was waiting. I gathered up my skirt and sprang in.

 Oh, the exquisite dark intimacy of the interior of that smooth-rolling brougham! 

Sacred and Profane Love (1905)

Notice the reference to a range of a hundred and twenty miles. There are a number of explanations as to why electric cars were ousted by the internal combustion engine after an auspicious start, but are any of them satisfactory?

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.

The Condom Mission

Sex education, Danish-style...

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.

Bombing Man Friday

Over at the New Zealand-based Cafe Pacific blog, a story about a documentary film that has been kept off-air for two years so far:

"Nuclear Savage is a recent documentary film that explores American nuclear weapons testing in the Marshall Islands, 1946-1958 - and particularly the secret Project 4.1: an American experiment in exposing Pacific Islanders to overdoses of radiation – deliberate human radiation poisoning – just to get better data on this method of maiming and killing people." (My emphasis.)

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.

Wi-Fi sky-spy eye on you - all the time!

Not only does your car spy on you and constantly report your whereabouts, so (if you've ever used free Wi-Fi) does your smartphone or portable computer - and the tattletale goes back in time to when you bought the thing.

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.

Did Lloyds Bank have a heart attack last week?

Last Sunday, "hundreds of thousands of customers were left unable to use debit cards and 7,000 cashpoints" (Daily Mail).

 

The BBC News website said the cause was "a hardware failure" but - perhaps in an attempt to reassure us - the bank told them "the faults were not caused by any external upgrade work or cyber attack."

Funnily enough, Sunday was also the day that Lloyds borrowed an extra c. £766 million, according to the Wall Street Journal:

Source: WSJ

Just in time - or very nearly so, anyway?

As it happens, our current account is with Lloyds and earns 0% interest. This Harvard economist has just withdrawn $1 million from Bank of America for exactly that reason: the odds against a collapse, though presumably small, are not zero, so the risk to a depositor is underpriced.

Weekends seem to be bad for banks: on Saturday, September 13, 2008 the Federal Reserve was in talks with Lehman Brothers, Barclays backed away from making an offer (as reported in the NYT next day, Sunday) and the bankruptcy filing came on the Monday - at 1.45 in the morning. Not much chance for the likes of you and me to queue up at the counter.

Shoebox or bank account, bank account or shoebox? So hard to decide.

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.

Total control zone

From Google Earth - Kaechon Gulag No 14 - School for Child Prisoners

Asahi Shimbun has a piece on Shin Dong-hyuk, a North Korean defector who was born in Camp 14, a political prison in Kaechon, 80 kilometers north of Pyongyang.

He said the camp was like a town. It had a population of several tens of thousands of prisoners who worked on a farm, a coal mine, a cement factory, a sewing factory and other facilities there.

Camp 14 is also a “total control zone” prison, the harshest category for such facilities in North Korea. Inmates of these prisons are not allowed out of the camp for their entire lives.

His story is horrendous and quite impossible for most of us living our comfortable lives to imagine. In particular, indoctrination can do the vilest things to people.

When he was 13, something happened to his brother that prompted him and his mother to plan to break out of the camp. Shin happened to overhear their plot, and he knew that he would be shot if he did not alert the prison wardens. So he did.

His mother and brother were executed in front of Shin and his father.

“Back then, I believed that tipping them off was the right thing to do,” Shin said. “Otherwise, I would have been killed.”

After escaping from North Korea, however, he fully realized the consequences of his action. He says he is still in agony over the decision.

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.