G-7 attempts to avoid currency war
- U.S., Japan, Germany, France, Italy, Canada, and U.K.
- monetary policies designed to boost economies that have side effect of lessening the value of currency;
- (Richard Gilhooly) “Rather than calm the markets, the poorly communicated statement has significantly raised volatility, and now we have to wait to see the actual outcome of G-20 on the weekend.”
- (a senior official of G-20) “the statement put the rest talk of targeting specific exchange rates.”
- singling out specific members as currency manipulators won’t happen.
Venezuela slashes currency value
- 4.3 per dollar to 6.3 per dollar, nearly a third of its value;
- help narrow government’s budget shortfall; but also spur inflation that is already among the world’s highest — trade-offs faced by Mr. Chavez more than a decade of populist economic policies;
- raise the cost of imports, and Venezuela’s economy is increasingly dependent on imports;
- foreign companies sales in local currency terms are among biggest losers;
- many world’s economies moved away from fixed exchange rates in the 1990s, but Mr. Chavez populist polices have gone in the other direction — since then, periodically devalued currency every few years — driven economy with one foot on the gas and the other on the brakes;
Insurance as punishment
- proposed that CA gun owners to buy liability insurance to cover damages or inquiries caused by their weapons;
- (proponent) some owners would avoid high premium by purchasing less-lethal weapons;
- unfounded assumptions here — FBI statistics show that handguns not rifles consistently account for large majority of firearms homicides.
- home insurance company will likely favor gun owners who have safely locks and proper storage;
- deter gun ownership? punish law-abiding gun owners?
Is this the new face of racism?
- (Latanya Sweeney, a Havard professor) black-identifying names turned out to be much more likely than white-identifying names to generate ads that including the word “arrest”;
- (a decade ago, from U Chicago) resumes with white-sounding names were about half again as likely to yield callback as those with black-sounding names — implicit racism;
- correlate with 1970’s Black Power Movement — before the movement, names given to black and white children were not distinctly different; but after the movement, distinctly black names appear.
- Google algorithm based on the pattern of clicks but these clicks reflect no bias; people click the link because it is her/his name.