My Personal Overview Of The Economic Outlook

My Personal Overview Of The Economic Outlook:

My Personal Overview Of The Economic Outlook - Part One

As more of the global down turn in peoples expectations take their toll on the economic forecasts that are being prof ligated on a daily basis, peoples hope is turning to doubt. The reasons seem simple on the surface but dig deeper and a more ingrained purpose is high lighted.

Firstly we are told that by recapitalization of our banks we can provide an even keel for our global economies but when have you heard anyone let alone a banker say l will provide money to bailout another person, company or country and not want anything back in return. Is that " NEVER " l hear you say well greed will not enable any bank to help to bail out another too many hidden agendas too much l am alright Jack and dam the rest, not on the surface of course but deeply ingrained within our way of living our everyday lives.

We hear the saying " A Leopard Cannot Change Their Spots " well it was and is the ideal saying for all the bankers whether big or small and this leopard is not willing to change even to save itself and its spots one day will engulf the whole world.

My words of comfort are few - listen not to the bankers or too the governments rhetoric as they tell us they care about our futures, as they do not know how to care about themselves, witness the UK fuel crisis of rising bills over profits for themselves and their cronies.

The only person who cares is the one who says here take this l do not need it and when asked if they want payment say l have enough and you had less than me. You will find these people are very few and they are well hidden as they want no reward.

Ian Draper [Editor]

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Christmas 2011 – Merry Christmas, Christmas Wishes – Times of India

Christmas 2011 – Merry Christmas, Christmas Wishes – Times of India:

'via Blog this'

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Ramey on Stimulus and Multipliers

Ramey on Stimulus and Multipliers:

Valerie Ramey of the University of California, San Diego talks with EconTalk host Russ Roberts about the effect of government spending on output and employment. Ramey's own work exploits the exogenous nature of wartime spending. She finds a multiplier between .8 and 1.2. (A multiplier of 1 means that GDP goes up by the amount of spending--there is neither stimulus nor crowding out.) She also discusses a survey looking at a wide range of estimates by others and finds that the estimates range from .5 to 2.0.

Along the way, she discusses the effects of taxes as well. The conversation concludes with a discussion of the imprecision of multiplier estimates and the contributions of recent Nobel Laureates Thomas Sargent and Christopher Sims.

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Too Much Information

Too Much Information:

Norbert Wiener

There was a time when the phrase "too much information" referred to a friend's unusual propensity to reveal a superabundance of intimate detail regarding recent amorous encounters. However, at the beginning of the second decade of the third millennium the cliché has been restored to its primary meaning. But the mere act of expressing the fact that there is too much information now puts us all in something of a fix. In order to make the point that there is too much information we only add to the information. It is surely time to return the words 'knowledge' and 'wisdom' to a central place in our culture. And time is what both of those words require.

The father of modern cybernetics, Norbert Wiener, whose work on the study of feedback helped popularise the idea of the information loop, and hence that most fashionable of notions of being 'in the loop', believed, in the way that only a scientist truly can, in the improvement of the species. This story, as told in James Harkin's compelling book Cyburbia, needs to be read. We would adjust and adapt in response to a continuing stream of information Wiener suggested, improve our direction, evade capture or destruction, move ever onwards with an improved sense of momentum and purpose.

However, in our age of global information witness, when we are all looking at, commenting upon and sharing the same information, the space for the radical, the surprise that refashions a conception of where we are going, unsettles our conviction as to why we are going there and challenges our assumptions as to what we will find if ever we are to arrive at our destination, is shrinking. Perhaps it is now only to be found offline.

According to the OED 'cybernetics' comes from the Greek word kubernetes meaning 'steersman,' 'helmsman' or 'pilot'. The internet, in its current form, encourages us to pilot ourselves in the same direction, towards one another, in a carnival of communality. In the glorious rush of digital feedback, the automatic input and output, who is keeping a look out to check that we are not steering ourselves into an abyss? '

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Clearing the mist at Foggy Bottom

Clearing the mist at Foggy Bottom: In a speech this week at George Washington University in Foggy Bottom, Washington, the World Secretary of State Hillary Clinton outlined her plan for internet freedom and the US government's commitment to tackling oppressive regimes.

At the beginning of her speech, Mrs Clinton stated the following:

"Perhaps today in my remarks we can begin a much more vigorous debate that will respond to the needs that we have been watching in real time on our television sets."

She then turned to those real time needs:

"A few minutes after midnight, on January 28th, the internet went dark across Egypt. During the previous four days, hundreds of thousands of Egyptians had marched to demand a new government. And the world on TVs, laptops, cellphones and smartphones, had followed every single step. Pictures and videos from Egypt flooded the web. On Facebook and Twitter journalists posted on-the-spot reports, protesters coordinated their next moves, and citizens of all stripes, shared their hopes and fears about this pivotal moment in the history of their country. Millions worldwide answered in real time: you are not alone and we are with you. Then the government pulled the plug. Cellphone service was cut off, TV satellite signals were jammed, and internet access was blocked for nearly the entire population."

At this point a noise was heard. A man shouted out: "So this is America?" Mrs Clinton, her eyes moving this way and that, raised her voice, forced her mouth into a defiant aperture of positivity, and, in the attempt to disguise her obvious discomfort, continued:

"The government did not want the people to communicate with each other. And it did not want the press to communicate with the public."

The voice was silenced. The World Secretary of State could once more relax:

"It certainly did not want the world to watch."

You can watch the ejection of the protester here:



You can watch a full video of Mrs Clinton's speech here:



You can read an article on the protester here.

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Manufacturing Content

Manufacturing Content:

Aaron Sorkin, the creator of The West Wing and the screenwriter of The Social Network, doesn’t like the internet. “There’s just too much bad information getting out there,” he told the Dairy Goat Journal, “and I have to believe that’s mostly the fault of the internet, which isn’t held to any standards of accuracy.”

Mr. Sorkin’s view is that the internet has undermined the role of newspapers. Surely, that perspective is a correct one. After all, didn’t the print rags once contain all the information we needed to help us make sense of the world around us? I too remember that glorious time when the Daily This or the Morning That would arrive through the letterbox each day. Oh, how we were once enlightened by the informed objectivity of the great columnists! Oh, how we gobbled up the accurate truth like a plateful of nutritious and healthy info-food!

Here in the United Kingdom of Great Britain and Northern Ireland commentators such as the Daily Mail's Peter Hitchens and The Guardian's Polly Toynbee, must be allowed to continue to run the information in our lives. There can be no other way. The media class to which the aforementioned duo pertain are interested in nothing other than the purest truth. They are untainted by personal interest, prejudice and subjective political conviction. They wish only to inform. Need it even be said that their work is based on the purest accuracy. Of course it is. That is self-evident. Let us thank Mr. Sorkin then for reminding us bloggering souls of our place in the information order. Ours is not to question. We must simply receive.

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Say Hello, Green Wave Goodbye

Say Hello, Green Wave Goodbye: Can social media change the world? Evgeny Morozov doesn't think so, and perhaps he has a point. A tweet might enable one protester to link up with another with a fashionable rapidity, but try throwing one of those micro e-missives at a tank and you'll begin to see the limits of the digital telegraph.

The Green Movement in Iran in 2009 sought to bring down Mahmoud Ahmadinejad following a disputed presidential election. In that fervid hour, when internet evangelists like Jared Cohen rushed to proclaim the protest "the one that social media built," the cliché of choice was that Twitter would transform Iran, 140 characters at a time.

The failed attempt to unseat Ahmadinejad is the subject of Iranian-German filmmaker Ali Samadi Ahadi's film, The Green Wave, which receives its UK premiere on March 25th. Drawing upon techniques seen in Ari Folman's Waltz with Bashir, Ahadi animates the work of Iranian bloggers, thus imaginatively recreating moments from the 2009 protest not recorded by TV cameras.

It is clear that the internet offers a novel locus for dissent; it also allows governments, both authoritarian and democratic, a new means of tracking down citizens who are resistant to established authority. Can social media change the world? Why don't you write a blog post about it?

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Thank you, Ian Draper [Editor]