Ratios, one number divided by another, are a far better way to compare prices across a plane instead of looking at just the outright value.
For example, price per square foot for real estate is an important measure in real estate. Price per earnings for stocks gives a better way to compare the relative value of stock prices.
Saturday, October 24, 2009
Sunday, October 11, 2009
o The Nobel Peace Prize
The five members of the Norwegian Nobel Committee award the Nobel Peace Prize each year. It carries no official powers or responsibilities. The five judges can award the prize to whomever they want, unlike an election or Olympic gold medal which is won in competition.
If people don't like how the Nobel Prize is awarded, there is something that can be done. Create an independent peace prize.
Create a website with an award called the "World's Noble Peace Prize". Allow people to nominate persons or organizations for the award. Have people register for the site and pay $10 for the right to vote once on who they feel should win the "World's Noble Peace Prize". Tally the votes online or have people send in ballots. An outside auditor can verify the results. Donate the proceeds to the winner's charity of choice. This will democratize the process and give a global voice to the decision.
If people don't like how the Nobel Prize is awarded, there is something that can be done. Create an independent peace prize.
Create a website with an award called the "World's Noble Peace Prize". Allow people to nominate persons or organizations for the award. Have people register for the site and pay $10 for the right to vote once on who they feel should win the "World's Noble Peace Prize". Tally the votes online or have people send in ballots. An outside auditor can verify the results. Donate the proceeds to the winner's charity of choice. This will democratize the process and give a global voice to the decision.
Saturday, October 10, 2009
o Voting Along Political Lines
Party identification holds more significance than the quality of the candidate up for election. The two party system does not give voters much choice. I think a third party would help reflect the views of more moderate voters.
The message to people is to vote your conscience, however please refer to the party platform so we can tell you what your thoughts are.
For empirical evidence of how voters behave, please view the ANES data: http://www.electionstudies.org/
The message to people is to vote your conscience, however please refer to the party platform so we can tell you what your thoughts are.
For empirical evidence of how voters behave, please view the ANES data: http://www.electionstudies.org/
Tuesday, October 6, 2009
o FTC Toughens Endorsement Rules For Bloggers
Going forward, the FTC will require bloggers to clearly state when they receive cash or "payment in kind" for endorsing a company's products or services. So if Blackberry pays a blogger $5k to say good things about the new Blackberry Curve, the blogger must disclose he or she was paid by Blackberry for the rave review.
Failure to disclose the connection could lead to fines of $11,000 per violation. Its a way to separate unbiased endorsements from paid endorsements.
Does that mean the government cannot pay public relations firms to promote certain programs or laws without full disclosure? Does that mean the "earmarks" on spending that benefit special interest groups have to be reported? Because as a lawmaker, you want to endorse a bill independently and not get paid in kind with political favors or campaign funds, right? I think the FTC rule should be pushed to its logical conclusion, that if you get a kick back or pay someone for opinions or votes, the public should know about it.
Failure to disclose the connection could lead to fines of $11,000 per violation. Its a way to separate unbiased endorsements from paid endorsements.
Does that mean the government cannot pay public relations firms to promote certain programs or laws without full disclosure? Does that mean the "earmarks" on spending that benefit special interest groups have to be reported? Because as a lawmaker, you want to endorse a bill independently and not get paid in kind with political favors or campaign funds, right? I think the FTC rule should be pushed to its logical conclusion, that if you get a kick back or pay someone for opinions or votes, the public should know about it.
Friday, October 2, 2009
o Chinese Money Habits
This is from a post on http://www.wisebread.com.
1. Being frugal is a virtue - Being frugal did not start as communist propaganda. Actually it is a concept that has been taught for thousands of years. The classic Chinese text Dao De Jing states that the three greatest treasures one can have are love, frugality, and generosity. Frugality is really a integral part of the Chinese culture.
2. Save as much as possible
3. Pay for things in cash - Chinese people are wary of debt.
4. Always look for a bargain
5. Your salary is not a secret
6. Cash gifts are the best
Maybe, if economists would have known a little bit about Chinese culture, they would have downgraded their foreign consumption expectations. OMG, there are a billion people in China with disposable income now that the USA has outsourced jobs to that nation. Therefore, they will all buy TVs and drink Coke and upgrade their I-pods every year. Wrong, they will buy nothing. And time has run out, because now our debtor nation has no purchasing power either. Coal is being added to the consumption economy furnace through low interest rates, yet the flames shrink and the embers turn from white hot to red to grey. The Fed and the US government are no wiser than the Little Match Girl, yet they have to come up with the ideas to resuscitate the economy. Scary.
1. Being frugal is a virtue - Being frugal did not start as communist propaganda. Actually it is a concept that has been taught for thousands of years. The classic Chinese text Dao De Jing states that the three greatest treasures one can have are love, frugality, and generosity. Frugality is really a integral part of the Chinese culture.
2. Save as much as possible
3. Pay for things in cash - Chinese people are wary of debt.
4. Always look for a bargain
5. Your salary is not a secret
6. Cash gifts are the best
Maybe, if economists would have known a little bit about Chinese culture, they would have downgraded their foreign consumption expectations. OMG, there are a billion people in China with disposable income now that the USA has outsourced jobs to that nation. Therefore, they will all buy TVs and drink Coke and upgrade their I-pods every year. Wrong, they will buy nothing. And time has run out, because now our debtor nation has no purchasing power either. Coal is being added to the consumption economy furnace through low interest rates, yet the flames shrink and the embers turn from white hot to red to grey. The Fed and the US government are no wiser than the Little Match Girl, yet they have to come up with the ideas to resuscitate the economy. Scary.
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