Sunday, July 31, 2016

Know Your Food

THE WASHINGTON POST REPORTS — President Barack Obama has signed into law a bill that will require labeling of genetically modified ingredients for the first time.

The legislation passed by Congress two weeks ago will require most food packages to carry a text label, a symbol or an electronic code readable by smartphone that indicates whether the food contains genetically modified organisms, or GMOs.

Saturday, July 30, 2016

A Job For Trump After All This Is Over

It seems to me that they have to find a job for Trump after this is all over. The continuation of his entertainment value is needed to sate the tastes he has unleashed.

This is leaving aside the fact that he is a nasty man who publicly mimicked a disabled man - and that is the only reason anyone needs - ever - not to vote for him.

Thursday, July 28, 2016

Fifteen iPhones Each

Apple just sold their one-billionth iPhone. That's equivalent to 15 iPhones for every one of the 64 million people in the UK.

Tuesday, July 26, 2016

Alexander McQueen Cuts Up A Dress

There was a retrospective about Alexander McQueen on television about year ago.

A garment cutter at one of the Paris fashion houses recounted how McQueen came in, took a pair of scissors and cut up a dress that he described as boring.

The cutter was appalled until he saw the results and saw McQueen's genius in creating a new dress in a few minutes with a pair of scissors and all by hand.

Monday, July 25, 2016

US Filial Responsibility Laws

Never could I have imagined such a thing as filial responsibility laws in the USA - land of the 'look after yourself' ethos. But maybe it does fit well, because if the children don't look after parents when they can, who else is going to do it? The state?

From an article by Quentin Fortrell on MarketWatch
Some 28 U.S. states have so-called filial responsibility laws, which can be traced back to colonial times and (in theory) impose a duty on adult children to support their impoverished parents. Those states don’t include New York. Here’s a list of the other 28 * that do have those laws, even if they don’t practice them. One of those states is Pennsylvania, which did use filial responsibility to force an adult child to pay his mother’s bill. In 2012, Pennsylvania court ruled that John Pittas must pay his mother’s $93,000 nursing home bill after she moved to Greece. Otherwise, they are rarely enforced.

* 30 states in the U.S. have some type of filial responsibility laws in place. The states that have such laws on the books are Alaska, Arkansas, California, Connecticut, Delaware, Georgia, Idaho, Indiana, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Mississippi, Montana, Nevada, New Hampshire, New Jersey, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Utah, Vermont, Virginia and West Virginia.

Running On Empty Money

Talking about his new book, James Altucher says at one point,

Wealthy people own valuable assets. The middle class and poor simply rely on salaries.

That's strange. One of the hallmarks of being middle class is that you have cash. You have this ability to take advantage of situations because you have cash to invest.

in my mind, if you don't have cash you are a worker.

Maybe it's a USA thing, but in the UK it's clear. Of course we have a pseudo-middle class living on borrowed money - but with average debt to available income running at 132%, that can't go on forever.

And if the average is 132%, think how high it must be for some people.

Sunday, July 24, 2016

Stress Test Friday

The results of European-wide bank stress tests are due to be published on Friday.

Will any of them need to raise new capital?

How exactly does a 'bail-in' increase the stability of any banking institution? It is just more borrowed money.