Today on Jon Taplin's blog, a sobering reality check on US Treasury Secretary Hank Paulson's irrational exuberance at the G-7:
Treasury Secretary Paulson, meeting with the G-7 Finance Ministers in Washington, tried to reassure them that the U.S. economic slump was only temporary.
He said he told his counterparts that checks from the stimulus package would go out in May and June and that they would add 500,000 to 600,000 jobs to the economy. He said that the federal government was helping more than a million homeowners keep their homes.
I worry that Paulson is engaging in reckless speculation about the future of the American job market. That somehow a flood of $600 checks next month from the government is going to lead to the creation of 600,000 new jobs is pure fantasy. That money is going to be used to pay down maxed out credit cards or keep cars from being repossessed. As Floyd Norris points out, the real jobless number (chart above) number for working men in America is not 4% but 13%. When someone gives up looking for work, the government no longer considers them unemployed–thus the huge discrepancy in the two figures.
Graham Clark, the 17-year-old Florida boy accused of pulling off the big Twitter hack, pled not guilty to charges on Tuesday. During the security breach, top accounts including Democratic presidential candidate Joe Biden and Tesla/SpaceX CEO Elon Musk were taken over to push a bitcoin scam.
In this footage, a supercomputer’s CPU cores — nearly 900 of them — are neatly lined up in the Task Manager. The Doom logo appears, generated by code that targets each core. Then Doom itself plays, each “pixel” generated by thrashing a core with just the right amount of busy work. Max Holt: Finally got […]
The UK government today ordered domestic companies to stop buying equipment from Chinese vendor Huawei and to stop using its kit entirely by 2027. Huawei is suspected to be an arm of the Chinese government, breaking into western markets (and maybe its networks) by selling impossibly cheap equipment. The UK only recently approved more Huawei […]
If the last 50 years of education have taught us nothing else, it’s that it often requires different tactics to best reach different learners. To pick up a foreign language, some students take best to the old-school high school language lab method, using heavy repetition, verb conjugation and grammar emphasis to embed a new language. […]
For those who want a career in video games, there’s no reason to sit around and wait. EA and Rockstar Games probably aren’t going to seek you out and knock on your door with a job opportunity. But if you’re an indie developer with a good idea and some passion, you can create a really […]
Nobody is happy about the current state of our COVID-ravaged education system. With a new school year fast approaching, plans for teaching students still in flux, and political in-fighting driving more fear and confusion about whether or not to re-open campuses, teachers and parents are concerned. Meanwhile, most kids are just fine with spending less […]