"Finally, Ms. Reinhart and Mr. Rogoff allowed researchers at the University of Massachusetts to look at their original spreadsheet — and the mystery of the irreproducible results was solved. First, they omitted some data; second, they used unusual and highly questionable statistical procedures; and finally, yes, they made an Excel coding error. Correct these oddities and errors, and you get what other researchers have found: some correlation between high debt and slow growth, with no indication of which is causing which, but no sign at all of that 90 percent “threshold.”"
- Todd Hoff
from Bookmarklet
At root, I don't think anyone really understands money or how or why it really works. Austerity thinking thinks of the economy as a zero sum game, which makes sense from an economic POV, but it doesn't seem to work that way. Why is that? We don't really have any examples of successful complex systems that don't rely on some sort of freely available commons, like the sun and earth resources. Money plays that same role in the market economy I think.
- Todd Hoff
Every one of their mistakes biased the results in favor of the outcome they were inclined towards. Because SCIENCE.
- Andrew C (✓)
from Android
Liking for this: "...At root, I don't think anyone really understands money or how or why it really works..." Truth. Adding: I don't understand it.
- .LAG liked that
And Krugman is too polite. The "unusual and highly questionable statistical procedures" are pretty obviously bullshit.
- Andrew C (✓)
from Android
My first "real" job after college was for a temp agency in Oakland, working as a trainer and word processor. One weekday, we were raided by the FBI. #saturdayFF
She had always been a big contributor to local politicians she approved of. At some point, she donated to the campaign of a city councilmember who was under investigation for bribery. That got the FBI interested in her and her business. At 1pm on a Friday, suddenly a bunch of armed Federal agents burst into our Oakland office. They locked us all in and spent several hours interviewing us, and searching for evidence.
- Stephen Mack #TeamMomo
I was the office's main computer guy. We had a bunch of IBM PCs used for typing tests and self-paced training on WordPerfect and Lotus 1-2-3, and only a handful of other 386/486 PCs used by staff for word processing. (Most of the employees used dumb terminals connected to a RSTS mainframe running the software that ran the temp business.) The agents used scanning software searching for the word "bribe" and "BART" on the PCs.
- Stephen Mack #TeamMomo
I was stunned at the general lack of computer knowledge the agents had; no one seemed to have any clue how a PC worked, and they had me help them running their scan software. I also thought it was incredibly naive that they believed they'd find some file somewhere saying, "Today I bribed a BART board member."
- Stephen Mack #TeamMomo
As it got closer to 5pm, more and more of the temps would come by to pick up their paychecks. But the doors were locked, and they weren't letting anyone in or out, even the management who worked in a nearby building. They escorted one woman who needed to use the bathroom out and back in, but that was it.
- Stephen Mack #TeamMomo
I had a journal that I kept in an encrypted file on my PC. Not wanting to get in any trouble for hiding anything, I volunteered to the agent that the file existed because I knew their primitive scanning software wouldn't be able to open it. He then read through the journal (which was quite long), page by page. He didn't know how WordPerfect worked, so he kept hitting page down instead...
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- Stephen Mack #TeamMomo
Eventually, the agents all left, empty-handed. I was late for a dinner with friends from my martial arts club. As it happened, one of my friends from Hapkido had, at my urging, been in the office applying for a position at the time of the raid. She and all the other applicants in the office at the time were escorted out. So when I finally showed up for the dinner, because of her, everyone knew I had been part of an FBI raid and wanted to know what had gone down.
- Stephen Mack #TeamMomo
There was eventually a formal accusation of bribery. The U.S.D.A. was playing hardball (even though the amounts were modest) and leaked the story the next Friday, so it was in the local papers over the weekend. One story is still up: http://www.sfgate.com/bayarea...
- Stephen Mack #TeamMomo
Since I was the one who typed up almost all of Lila Saks's correspondence (I was her admin and word processor before I became a corporate trainer), I knew a lot about her business. She was a huge player in the Oakland political scene, but there was never anything underhanded or devious about her. She maintained her innocence and I believe her to this day. It weighed on her heavily that she ended up taking a plea deal to get the case dismissed.
- Stephen Mack #TeamMomo
She was a tough woman, very direct, not generous with praise (but generous with everything else), and I'd describe her as idealistic. She once had me type a letter to President Clinton when she was upset about something he'd done. I was both amused and impressed.
- Stephen Mack #TeamMomo
But in the end, she was an amazing businesswoman, and she knew her business well -- she was always winning new clients, and frequently beat the national temp agencies to win contracts with local government agencies. And I'm very sure she knew right from wrong when it came to running a business and being a leader. She taught me a lot. RIP, Lila. --fin--
- Stephen Mack #TeamMomo
It always bothers me when I hear about such cases, where there is little or no evidence to support the charges, but the accused accepts a plea deal because the financial and personal cost of fighting the charges would take a heavy toll. I tend to believe that these instances are more about the investigators trying to pad their performance stats than about anything having to do with justice.
- Jkram|ɯɐɹʞſ
She sounded like someone I would be fearful of if I disappointed her but also someone I respected. Sorry for your loss Stephen.
- Janet:#TeamMonique
Mark, thanks, I agree. They definitely made mistakes (as the linked article details). I think they had their employees write the checks (to later get reimbursed) to avoid the appearance of impropriety, but that in itself is an impropriety. But to think that the tiny amounts involved ($300 in one case) was a real bribe intended to influence decisions for an annual contract worth millions...
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- Stephen Mack #TeamMomo
Janet, thanks. We had spoken only two or three times in the last 15 years, so I wasn't close to her, but I'm glad I knew her.
- Stephen Mack #TeamMomo
Actually, these guys may really be on to something, unlike the Iranian.
- Sean McBride
"[Peter] Turchin — a professor at the University of Connecticut — is the driving force behind a field called “cliodynamics,” where scientists and mathematicians analyze history in the hopes of finding patterns they can then use to predict the future. It’s named after Clio, the Greek muse of history."
- Sean McBride
"These academics have the same goals as other historians — “We start with questions that historians have asked for all of history,” Turchin says. “For example: Why do civilizations collapse?” — but they seek to answer these questions quite differently. They use math rather than mere language, and according to Turchin, the prognosis isn’t that far removed from the empire-crushing...
more...
- Sean McBride
Artificial intelligence, Big Data mining, predictive analytics, the Semantic Web, culturomics, econometrics, etc. will fully absorb cliodynamics. Predicting the future is largely a pattern recognition problem -- the more hard data, and the more organized the hard data, the better.
- Sean McBride
"This burgeoning field is part of a much larger effort to gain more insight into our world through the massive amounts of digital data that are now available via the internet — a movement that ranges from Google’s search engine to the data science contests run by San Francisco startup Kaggle. The difference is that cliodynamics uses data from the distant past. Turgin and his cohorts mine historical documents that have only recently come online."
- Sean McBride
"Turchin takes pains to emphasize that the cycles are not the result of iron-clad rules of history, but of feedback loops — just like in ecology. “In a predator-prey cycle, such as mice and weasels or hares and lynx, the reason why populations go through periodic booms and busts has nothing to do with any external clocks,” he writes. “As mice become abundant, weasels breed like crazy...
more...
- Sean McBride
cluster; cliodynamics, cliometrics, dark archives, data science, elite overproduction, Foundation, Hari Seldon, Isaac Asimov, long data, New England Complex Systems Institute, psychohistory, Peter Turchin
- Sean McBride
"The Bible, which is a very interesting and here and there very profound book when considered as one of the oldest surviving manifestations of human wisdom and fancy, expresses this truth very naïvely in its myth of original sin."
Jay-Z, former part-owner of the Nets, will sell his stake. All $350K of it. He owned 1/15th of 1% of the Nets. Shoot, 1/15th of 1% of my rent - admittedly I don't live large - wouldn't buy a can of Coke.
No, it's so his agency can represent ball players. He can't do that if he's got an ownership stake, even a tiny one.
- Jennifer Dittrich
...ah, good take @JDittrich... conflict of interest if he's a team "owner" AND owner of a player rep organization. so complicated O_o
- .LAG liked that
I guess you could look at it like VIP season tickets.
- Andrew C (✓)
any specific example for "entitlement in the twisted grasp of capitalism" ?
- Elestirel Gunluk
basically what I'm trying to say is the majority is raised with the assumption that they are entitled to things just because they are americans yet the "things" they are entitled to are so unjustly distributed that it causes frustration, feelings of unfairness, feelings of being unwanted and anger. that coupled with the governments deliberate lack of attention to the educational system, especially in poorer areas creates a very scary combination.
- Deniz Eda Goze
#SaturdayFF For our 5th wedding anniversary we were going to have a cruise but they aren't sailing where we want to go at that time of the year... so, instead, every month this year we're going to do something special.
We've already had upgraded hotels and a trip that we wouldn't otherwise have had this year. Tonight we went to a local restaurant which everyone we know - including the taxi driver who took us home - say deserves a Michelin star. It does. So very, very good. Seven courses including the appetisers, pre-desserts, etc. Next month we're off for a weekend up north and we're still trying to come up with ideas for the rest of 2013 although we've bought tickets for both NFL games at Wembley later on.
- Mark H
Meanwhile, a smartphone with one looks really odd to everyone else! (Speaking of new stuff, RIM officially renamed itself Blackberry a year or two ago...)
- Andrew C (✓)
Having been around rabid Blackberry users, it just seemed like it was the entire differentiating selling point of the brand :D
- Victor Ganata
They have released one without a physical keyboard before; and they are planning an "enterprise" version of the x10 with a physical keyboard.
- DAMMIT, MR. NOODLE
"It's not totally clear why women prefer bigger penises, but studies have shown that women prefer larger sizes because they can increase sexual satisfaction, Mautz said." <-- No one could have foreseen this.
- Anika
...I guess we guys should all start wearing pants like Jon Hamm, if we're packin'—.LOLz!
- .LAG liked that
And because women from a certain society were polled and said they prefered bigger, *that* is proof of it as an inborn preference? @@
- Spidra Webster
Blogger finds "panorama of pseudoscience" in Gwyneth Paltrow's new cookbook. | Knight Science Journalism Program at MIT - http://ksj.mit.edu/tracker...
""The enduring question that Paltrow’s book raises is why we continually buy into the junk advice of celebrity health promoters who have no specialization in health and everything to gain from us believing their claims." I know the answer to that one. It's because they are so good at presenting it. Celebrities become celebrities because a lot of people like them, or find them amusing, or find their work touching and profound. Celebs know how to tell a story and how to move people, and that works whether they are playing Shakespeare, Shakespeare in Love, or the role of a diet guru."
- Anika
from Bookmarklet
I don't know enough about Gwyneth Paltrow's nutrional knowledge to comment—I barely know anything about nutrition for myself. But I do know this: she named one of her children "Apple"...that should be enough to invalidate all of her opinions not written by professional writers for her to speak while a camera is filming her.
- .LAG liked that
I always buy more than I need so I can eat cheese while cooking and have some leftover. Making mac 'n cheese has taught me that.
- Anika
Wonders about the new cheese math that would need to be created so that the proper amount of cheese is in the food despite what is in Zulema's belly.
- c.a.j.
...but you have to be hella drunk to "see" your reflection in a snow-covered hill...are you sure you're not actually, I don't know, shrooming?—.LOLz!
- .LAG liked that