News That Stays News

A curious poem by Orwell (not very good) February 20, 2011

http://orwell.ru/library/essays/wiw/english/e_wiw

Credit: Tom

Why were the Hardy Boys in our 2nd grade classroom? February 20, 2011

http://www.washingtonpost.com/wp-dyn/content/article/2005/12/05/AR2005120501092_pf.html

China, Walmart February 20, 2011

1. One of the first solid pieces from Banyan – this one is about China and Egypt.

2. More on Chinese luxury consumption habits. The correspondent talked to one Beijing housewife and concluded that

For the most ostentatious Chinese consumers like to shop abroad. CLSA estimates that 55% of the luxury goods bought by Chinese people are bought outside mainland China. This is partly because of those high tariffs, which can top 30%. But it is also because counterfeiting is rife. Ask a well-heeled Chinese lady about her new handbag and she is quite likely to point out that she bought it in Paris. This tells you not only that she is rich enough to travel, but also that the bag is genuine.

3. Wal-Mart failed in Germany?

4. Signs of progress- Wal-Mart enters Africa.

Why We Have Social Security February 20, 2011

People are bad at saving money for themselves. Choice quotes:

Since the housing and financial markets began to collapse, about 39% of all Americans have been foreclosed upon, unemployed, underwater on a mortgage or behind more than two months on a mortgage, says Michael Hurd, director of the Rand Corporation’s Center for the Study of Aging.

Also:

The median household headed by a person aged 60 to 62 with a 401(k) account has less than one-quarter of what is needed in that account to maintain its standard of living in retirement, according to data compiled by the Federal Reserve and analyzed by the Center for Retirement Research at Boston College for The Wall Street Journal. Even counting Social Security and any pensions or other savings, most 401(k) participants appear to have insufficient savings.

 

 

On the Chinese Mistress February 18, 2011

1. An advertising analyst explains China’s mistress culture in Culture8. He also explains why Chinese men make up most of the luxury market:

Male consumption is the largest source [of luxury purchases], with much of it coming from man to man gifting for business purposes  – you could call it trust facilitation. That’s one of the things that makes the luxury market in China absolutely unique; men buy a lot more luxury products than women do, and this is largely to smooth business transactions.

2. That article led me to discover what a “chav” is- apparently it’s a lower-class British person with a penchant for fake Burberry. This did a good bit of damage to Burberry’s brand in Britain, and they started changing their designs to compensate.

3. Babbage from the Economist on Watson.

4. An Egyptian Post-mortem:

a. US Egyptians consider going back.

b. Niall Ferguson blasts American Grand Strategy in Newsweek

c. Lexington: summing up.

Credits: The Browser

Political Theatre February 18, 2011

1. The Wisconsin version of the filibuster: all the members of the minority party play hide and seek.

2. The end of the Cold War: US to scale back Voice of America broadcasts into China. It is pretty odd that we still pump propaganda into China in the absence of formal conflict. But then again, in 1989 my parents were listening to VoA.

The Chinese Economy February 17, 2011

Victor Shih, a China watcher, explains some of the weaknesses of the Chinese economy in a FiveBooks interview.

Credits: The Browser

The Jennings Test, Conclusion February 17, 2011

The end of the IBM Challenge:

Deficit Hawks>Hawks February 16, 2011

House Votes to Cancel Extra F-35 Engine.

The Jennings Test, Day II February 16, 2011

There’s also an NPR interview with Ken Jennings about the experience.

Credits: Alex Song