MONEY: Socialism’s achilles heel

Wednesday, January 4, 2017

https://reason.com/archives/2016/11/28/the-secret-dangerous-world-of

The Secret, Dangerous World of Venezuelan Bitcoin Mining
How cryptocurrency is turning socialism against itself
Jim Epstein from the January 2017 issue

*** begin quote ***

Four years ago, Alberto’s career prospects were bleak. The 23-year-old Venezuelan had just graduated from college with a degree in computer science, but his nation’s economy was already shredded by 13 years of socialism.

“There were job opportunities, but they paid like $20 a month, and we were used to traveling and buying things from abroad so we couldn’t settle for that,” his friend Luis recalls. Alberto and Luis—whose names have been changed for their own safety—teamed up to start a clothing business, but the venture floundered.

Then Alberto discovered bitcoin mining.

*** and ***

But the main factor driving Venezuelans to take up bitcoin mining is a price control put in place by the socialist government: Electricity is virtually free.

Bitcoin mining requires a lot of computer processing power, which in turn requires a lot of electricity. In most of the world, utility bills eat into the cost of mining. In places where energy prices are high, it can even be a losing proposition. But in Venezuela, the government has turned bitcoin mining into something akin to owning a home mint.

*** end quote ***

Guess the Gooferment there never figure this one out!

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INITIALISMS: FWIW

Tuesday, January 3, 2017


For What It’s Worth

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States Wire Up Roads as Cars Get Smarter

Tuesday, January 3, 2017

http://www.wsj.com/articles/states-wire-up-roads-as-cars-get-smarter-1483390782

Having lived in Va for several years, the planners can put whatever speed limit they want. Drivers exceeded it whenever they can!

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Rhodes Scholar’s Mother Helped Him With Autism Breakthrough

Monday, January 2, 2017

http://www.wsj.com/articles/rhodes-scholars-mother-helped-him-with-autism-breakthrough-1483404375

This story should change perception of autism and “education”?

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At Least 35 Killed in New Year’s Attack at Istanbul Nightclub

Sunday, January 1, 2017

http://www.wsj.com/articles/several-wounded-in-new-years-attack-at-istanbul-night-club-1483229410

And sadly, the carnage continues.

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POLITICAL: The FDA is obsolete; make it optional

Sunday, January 1, 2017

http://www.wsj.com/articles/the-fdas-rigged-drug-committees-1483140671?mod=djemMER

OPINION  REVIEW & OUTLOOK
The FDA’s Rigged Drug Committees
A case study in how the agency gets the advice it wants to hear.
Updated Dec. 30, 2016 7:15 p.m. ET 

*** begin quote ***

Among the Republican priorities in 2017 should be dismantling a culture of bureaucratic control at the Food and Drug Administration that poisons innovation and costs lives. Here’s an idea: Update part of the approval process that was patient zero for distorting data on a drug for Duchenne muscular dystrophy.

We’ve reported on the drama over eteplirsen, which FDA approved in September and is now marketed as Exondys 51 by Sarepta Therapeutics. Midlevel bureaucrats have since disparaged the therapy in public, and some insurers are denying coverage. Much of the confusion results from an April show trial known as an advisory committee meeting. A process that is supposed to provide independent advice to the FDA instead became a venue to mislead a panel of nonexperts—and the public—about the drug’s efficacy.

*** end quote ***

It’s been demonstrated that the FDA is a tool of Big Pharma. There’s that old revolving door between being a regulator and being regulated.

Why can’t the FDA be an optional player. Let the doctors counsel patients. It’s the patients that have to decide. 

Argh!

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Terms of Enlightenment: What scientific term or concept ought to be more widely known? – WSJ.com

Saturday, December 31, 2016

http://graphics.wsj.com/image-grid/year-end-science/?mod=wsjapp

Wow, never thought of grandmoms and children from this perspective. I grew up with my maternal grandmother and three aunts. Maybe that made me so crazy?

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POLITICAL: Bread and circuses

Saturday, December 31, 2016

Forwarded by an “Old”, who I suspect cut ’n’ pasted from some inet email spam. (There were format breaks in the text.)

*** begin quote *** 

I don’t know who the Chief’swere playing, but it would have beengreat if it had been the 49 ers- and C. Kaeperknick had been on thefield. 

As
you know, Obama cuts have eliminated the military flyovers at largeevents.  Well, there’s a group of guys in Kansas City who dosome formation flying, in their own planes, and decided they’dvolunteer to pick up the slack.  They invited a couple of othergroups to join them and before they knew it they had 48 guys withtheir own  airplanes signing up to join in.  If they hadmore time, they probably would have gotten an even larger group aspeople kept joining and a 49th was added near the event. 

One
additional feature of the flyover was the use of pink smoke forcancer awareness. 

The
folks from the Guinness Book were there and are expected to confirmit as the largest formation flight ever.  And to top it off thecrowd later set the record for the loudest gathering at a footballstadium.  Be sure your speakers are turned up… best if watchat ‘full screen. 

CLICK Arrowhead Stadium,49 plane flyover – YouTube

*** end quote ***

MY RESPONSE 

K — I don’t use his name; he’s not worth learning to spell it — is merely exercising his rights and getting PR points with the illiterates. (imho) I’d prefer to ignore him and let him fade away into obscurity.

After we found that the Gooferment was paying the NFL to “honor the troops”, I became hostile to these displays. Not that I am anti-American or don’t want the troops home, but it’s pro-war propaganda worthy of Goebbels’ Reich Ministry of Public Enlightenment and Propaganda!!!! (I feel strongly about that one.)

I have great respect for the voluntary flyover since that represents authentic American patriotism. Untainted by Big Gooferment propaganda.

Pink smoke to fight cancer just makes me think of the FDA and regulatory capture by Big Pharma. When the March of Dime focused on polio, the American public rallied and it was done. Voluntarily. Of course, all those high paid execs couldn’t be out of a job, so they moved on to an amorphous enemy — birth defects. And the gravy train continued.  

Sorry to rain on your parade but I am Cynic in the tradition of Diogenes and I insist on looking behind the curtain. Or maybe a Stoic like Marcus Aurelius, who recognized that the problems always are inside of man. 

Argh!

Thanks for great blog post fodder.

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Aluminum Billionaire Planned China Escape, Lawyer Says

Thursday, December 29, 2016

http://www.wsj.com/articles/aluminum-billionaire-planning-escape-from-china-lawyer-1482953518

Nice “retirement” fund. Wonder how the Chinese government feels.

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Why You Should Have a Retirement Chuck-It List

Wednesday, December 28, 2016

http://blogs.wsj.com/experts/2016/11/27/why-you-should-have-a-retirement-chuck-it-list/

I guess I should be less reluctant to speak my mind? Laafff. #nofilter

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