From another angle:
It reminds me a bit of the sky apartment in Oblivion; especially in the oh-so-white interior:
Yes, sure, it looks fantastic. But you would have to like stairs.
In a pre-budget briefing paper, Australia Institute senior economist Matt Grudnoff said: “The impact of the Howard/Costello income tax cuts on the federal budget has been huge. They were delivered at a time of strong economic growth, ignoring what would happen when that growth slowed.
“Costello chose to take the windfall generated by the mining boom to fund large and permanent cuts to income tax. What he didn’t say at the time was that he was funding a structural change to the budget with a cyclical boom. This was simply unsustainable.”
This is not a new story. However, Grudnoff has used the same economic modelling tool used by many government forecasters, NATSEM, to work out how many more billions would have flowed into government coffers had Swan and Rudd just said ‘No’ to the Costello cutting program.
Grudnoff found that not only would the budget likely be into the black by now, but that the cuts disproportionately benefited higher socio-economic groups. He found that “income tax cuts between 2005-06 and 2011-12 have taken a massive $169 billion out of the federal budget, meaning the deficit announced by Prime Minister Gillard might not have eventuated”.
He adds: “Had the tax cuts not taken place, the 2011-12 budget would have been $38 billion better off. Instead, the top 10 per cent of income earners gained $16 billion. This was more than the total benefit to the bottom 80 per cent of income earners.”
You might have expected, therefore, that a Labor government would have done its sums, worked out that the cuts didn’t further the cause of ‘fairness’, and stopped the madness of rolling tax cuts that were funded by an unexpected mining-revenue windfall at the start, and during the GFC, funded by issuing billions of dollars worth of government bonds.
But they didn’t.
But Swan bashing aside, there is a more sinister aspect to the chart above, given that it’s likely to be Treasurer Hockey giving next year’s budget speech.
Think for a minute what would have happened to the economy, and tax receipts, if Rudd and Swan had tried to balance the budget not by ending the Costello tax-cut program, but by cutting spending.
Had they been cutting spending to the bone from 2008 to the present, the mistakes of the European austerity programs would have been repeated here, albeit in milder form. That is, by cutting into a downturn, many more businesses would have collapsed, GDP growth would have slowed or gone backwards, and tax receipts would have plunged lower still.
But that is exactly what Tony Abbott and Joe Hockey have planned for next year. Their hope is that business, buoyed by the scrapping of the carbon and mining taxes, red tape reductions and less regulation, will create a new surge of economic activity that will start to refill the coffers.
It’s not impossible, and we’re certainly not in Europe’s dire predicament. But it does seem like a gamble as big as some of the punts Swan and Rudd took during the GFC and which, thankfully, mostly worked out.
The federal budget may be $19.4 billion in the red for 2012/13, but the economy is still growing, unemployment, inflation and interest rates are low. That may be a scenario we look back on with some nostalgia if the Abbott/Hockey punt doesn’t work out.
On Monday, Mr Abbott said that while he supported the idea of allowing the federal government to directly fund local councils, he thought the government was rushing the referendum at the last minute. Mr Abbott added that the government should not be ''muddying the waters'' of the election with another vote.
''(The election) ought to be a referendum on Julia Gillard and the carbon tax rather than a referendum on local government,'' he said.
and the "new guard" of dimwits as led by Andrew Bolt, and his best friends forever in the IPA, and shared by such shining luminaries as Cory Bernardi.This week former Liberal heavyweights Nick Minchin and Peter Reith spoke out against the idea. It is up to the Federal Government to propose the referendum but in-principle support from the Coalition makes it more likely that will happen.
Researchers in Adelaide are investigating links between stimulant use and an increased risk of people developing Parkinson's disease.
They said many drug users were developing a brain abnormality which also was seen in people afflicted with Parkinson's.
"People who have used illegal stimulants in the past have a change in a brain region that's right in the middle of their brain called the susbtantia nigra," explained Dr Gabrielle Todd, a senior researcher at the University of South Australia.
A recent German study found otherwise-healthy people with that abnormality were 17 times more likely than others to develop Parkinson's.
"When we looked at the brain stems of fairly young people, all less than 45 years old, they had the same changes that we saw in people with Parkinson's disease," Flinders Medical Centre neurologist Dr Rob Wilcox said.
The Michael J. Fox Show trailer: watch the actor return to TV. (VIDEO)
I guess I was not the only person to doubt that it was wise of Mr Fox to head back to regular TV: the person writing at Slate seems as surprised as me that the trailer for his new show looks so smart and witty.
People who don't find something appealling about Fox need therapy. Sorry, that's the only sound thing to be found in the new DSM.
How do ethics and the free market interact? As the authors of a new paper on the topic point out, the answer is often complicated. In the past, Western economies had vigorous markets for things we now consider entirely unethical, like slaves and Papal forgiveness for sins. Ending those practices took long and bloody struggles. But was this because the market simply reflects the ethics of the day, or does engaging in a market alter people's perception of what's ethical?The article then goes into detail as to how the experiment worked. It's pretty fascinating.
To find out, the authors of the paper set up a market for an item that is ethically controversial: the lives of lab animals. They found that, for most people, keeping a mouse alive, even at someone else's cost, is only worth a limited amount of money. But that amount goes down dramatically once market-based buying and selling is involved.
....they're well aware that other forms of resource distribution have fostered some fantastically unethical behavior. Or, as they put it in more academic terms, "Other organizational forms of allocation and price determination such as in totalitarian systems or command societies do not generically place higher value on moral outcomes."Still, it probably does have something useful to think about in terms of markets and ethics.
This large study from Europe found drinking a 12 ounce (about 355 ml) can of soft drink, or soda, a day was associated with a 20% increase in the risk of developing diabetes. This same effect has previously been observed in populations from the United States, Finland and Singapore.I am a little relieved to read the next bit, though:
If this is a real effect, as increasingly looks to be the case, it has massive implications. Half of eight-year-olds in the United States already drink this amount of soda, and teenage males consume more than double that. In conjunction with soft drink consumption among American adults, this represents tens of millions at risk of diabetes in the United States alone. Hundreds of millions more people are affected in other developed and developing countries worldwide.
There’s an obvious reason why soft drink consumption causes diabetes – more sweetened drinks equal more calories, which equals weight gain. Excess weight is the single most important factor in the global diabetes epidemic. While soft drinks may have effects on diabetes independent of obesity, this latest study (again) implicates weight gain as a key factor.
The study’s apparently anomalous finding of an association between diet sodas and diabetes likely reflects “reverse causation” – a phenomenon whereby people switch to diet soft drinks once they start to get the health problems caused by regular ones. So it’s the development of disease that’s causing people to drink diet soft drinks, not the diet soft drinks causing disease.My Pepsi Max remains safe, perhaps.
Yet alongside this melancholy was a mischievous, satirical wit. Kierkegaard was a scathing critic of the Denmark of his time, and he paid the price when in 1846 The Corsair, a satirical paper, launched a series of character attacks on him, ridiculing his gait (he had a badly curved spine) and his rasping voice. Kierkegaard achieved the necessary condition of any great romantic intellectual figure, which is rejection by his own time and society. His biographer, Walter Lowrie, goes so far as to suggest that he was single-handedly responsible for the decline of Søren as a popular first name. Such was the ridicule cast upon him that Danish parents would tell their children ‘don’t be a Søren’. Today, Sorensen — son of Søren — is still the eighth most common surname in Denmark, while as a first name Søren itself doesn’t even make the top 50. It is as though Britain were full of Johnsons but no Johns.As for the title of this post: I was trying to make a pun, and took a stab that there would be manga versions of some of Kirkegaard's books. Looks like I was right!
Bacterial geneticists contributing to the Human Microbiome Project, funded by the National Institutes of Health, have so far identified about 1,000 species of bacteria that commonly inhabit human mouths. Yet one person's particular mix of “bacterial colleagues,” as Rosenberg calls them, is probably quite different from another's. “Each person has maybe 100 to 200 of those bacterial species colonizing their mouth at any given time,” says Wenyuan Shi, a microbiologist at the University of California, Los Angeles.The article goes on to discuss new treatments being tested to give a more permanent "cure" by changing the bacterial mix in the mouth. For example:
During birth our previously sterile mouth picks up some of our mother's bacteria, and in childhood we quickly acquire new microbial colonizers. Studies suggest that a preschooler's population of mouth microbes most closely mimics his or her primary caregiver's. As the years go on, diet, stress, illness, antibiotics and other forces can shift the demographics of an individual's microbial community—and change its collective aroma. When bacteria that release smelly compounds dominate, chronic bad breath may be one of the consequences.
Many current treatments do not improve oral ecology—in fact, they might make matters worse. Although some mouthwashes merely mask unpleasant odors, alcohol-based rinses sold in drugstores and prescription rinses containing chlorhexidine or other antiseptics target all oral bacteria, stinky and otherwise. Shi says that approach has several drawbacks. A chlorhexidine rinse, for example, may improve breath for as long as 24 hours but can temporarily change the taste of food. In one study, 25 percent of subjects experienced a tingling or burning sensation on the tongue after a week of use. Heavy use of rinses with alcohol can dry out the mouth, sometimes exacerbating bad breath. Further, wiping out too many of the mouth's native bacteria could disrupt the usual checks and balances, making way for opportunistic species responsible for gum disease and other infections to move in and take over.
Other teams are investigating whether probiotics rife with a gram-positive bacterial strain known as Streptococcus salivarius K12 can fight halitosis. A common resident of the mouth and respiratory tract, S. salivarius K12 is benign and known to produce substances that deter harmful bacteria. In a recent study by researchers in New Zealand and Australia, volunteers gargled with a chlorhexidine mouthwash to clear their palate of many native bacteria and subsequently sucked on lozenges laced with K12. Seven and 14 days later they had much sweeter breath. Presumably K12 outcompeted its foul-smelling kin, opening up niches for less offensive species.I wonder if protracted kissing with someone with good breath can help too!
Niall Ferguson, the distinguished historian who for the past several years has increasingly abandoned his trade in favor of inept conservative punditry, stepped in it over the weekend when he told an investors’ conference that John Maynard Keynes’ allegedly misguided ideas stemmed from the fact that he was gay and had no intention of having children, and was thus blinded to the importance of long-run considerations.
When an uproar ensued, Ferguson, to his credit, offered a full and complete apology on his website. But both the controversy and the apology primarily reflect the welcome fact that gay-bashing is increasingly frowned upon in polite society. They don’t confront the larger smear, which is against Keynes’ ideas. The fact of the matter is that both Keynes personally and “Keynesian” thinkers about macroeconomics in general care deeply about long-term issues. In fact, Keynes is one of the deepest thinkers about the long-term economic trajectory of all time.
The assumption that Keynes only cared about the short run stems from Keynes’ too-often quoted line that “in the long-term we are all dead.” This is, obviously, true. But while it’s often taken to be something like a 1930s version of YOLO, that kind of carpe diem economics has nothing to do with what Keynes was actually writing about.
The line appears not in the General Theory of Employment, Interest, and Money but in 1923’s Tract on Monetary Reform. Most countries, including Great Britain, had abandoned the gold standard during World War I. After the war, the major powers sought to return to gold and the British authorities wanted to return their currency to its pre-war peg, a step Keynes thought would be disastrous. The question of the long run arose in response to the claim that overvaluing a currency relative to the currencies of its trade partners can’t make a difference since in the long-run domestic prices will adjust to any exchange rate.
Keynes says that this is true. If after the conclusion of the American Civil War “the American dollar had been stabilized and defined by law at 10 percent below its present value” that would have had no implications for the world economy of the 1920s, 60 years later. Nominal prices would have adjusted. “But this long run is a misleading guide to current affairs,” he wrote, “In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.”
The only significant difference between “Iron Man 3” and others of its type is that it is opening a few weeks after the Boston Marathon bombings. It’s an unhappy coincidence that might not be worth mentioning if “Iron Man 3” didn’t underscore just how thoroughly Sept. 11 and its aftermath have been colonized by the movies.
The makers of “Iron Man 3” — including the director, Shane Black, who wrote the script with Drew Pearce — could not, of course, have known that their carefully engineered entertainment would open so soon after the Boston attack. Yet the explosions in the movie, as well as its plot elements — among them the threat of terrorist violence, homegrown terrorism, American soldiers and improvised explosive devices — made it impossible not to think about the marathon. When a Los Angeles landmark is blown up on screen, a twist rendered with the usual state-of-the-art digital technology, all I could think was how clean it looked without the pools of blood and grotesquely severed body parts.