Wall Street consultants Quinlan & Associates have published "Fool's Gold: Unearthing The World of Cryptocurrency," a $5000, 156-page report that predicts that Bitcoin will drop to $1800 by next December, and down to $810 by 2020 (it is currently trading in the $14,000 range). Read the rest
More news on the Chinese crackdown on money-laundering and its impact on the global property bubble: the controls the Chinese government has put on "capital outflows" (taking money out of China) are actually working, and there's been a mass exodus of Chinese property buyers from the market, with many abandoning six-figure down payments because they can't smuggle enough money out of the country to make the installment payments. Read the rest
Vancouver has been wracked by a white-hot property bubble driven primarily by offshore speculators, mostly Chinese, who have driven up the price of housing beyond the means of working Vancouverites, crippling the city's daily life as workers, students and families struggle to find somewhere -- anywhere -- to live. Read the rest
Wang Jianlin made billions speculating on Chinese real-estate; now that he's diversified into buying Hollywood movie studios and chains of movie theaters, the richest man in China is prepared to say what many have known: the Chinese property market is a huge, deadly bubble that's ripe to burst. Read the rest
Singaporeans are the most prolific speculators on UK commercial property, and the United Overseas Bank is the most prolific lender to Singaporeans who want to speculate in that market -- and now they're turning off the faucet. Read the rest
Since the crisis, the number of people renting in the UK has sharply increased, but the number of landlords has decreased, as a smaller and smaller number of richer and richer people control the destiny of more and more Britons. Read the rest
Buzzfeed's Hunter Schwarz revisits 1998's "Scholastic Beanie Baby Handbook," which predicted values of Beanie Babies in 2008, and compares them to the current-day eBay clearing price for these same speculative items. For example, the Stripes the Dark Tiger doll, which retailed for $5 and traded for $250 in 1998 was predicted to rise to $1,000. Today it can be had on eBay for $9.95. And the $4,000-$5,000 estimated 2008 value for the Violet Teddy was also way off, though Violet is today a $700 item ($700 was also what it traded for in 1998).
First: When shown images like the one above and asked to choose which men they found more attractive, women cared significantly more about body shape than penis size. (Also, it's worth noting that the image above is meant to show you an average, actual human guy in the middle and the extremes of body shape and penis size that were shown to the women on either side of him. In reality, the women were shown a full spectrum of images mixing different body types and penis sizes).
Second: The hypothesis (that human women sexually selected human males to have the larger-than-other-primates junk they are blessed with today) comes with some big questions, including the obvious — flaccid penis size does not correlate well to erect penis size.
Third: As Faye Flam points out at The Knight Science Journalism Tracker, the journal Proceedings of the National Academy of Sciences might need a new acronym (or, at least, different subject matter).
Yesterday, I posted about Pegomastax africanus, a parrot-like dinosaur whose fossil was discovered not in a remote waste in some far corner of the world, but in a rock that had sat in storage at Harvard University for 50 years.
In the post, I tried to explain why something like that could happen. The simple fact of the matter: A successful archaeological or paleontological dig will produce far more material than the original scientists have time (or money) to sort through, process, and examine. So lots of stuff ends up sitting in storage.
That led BoingBoing reader Matt Fedorko to some interesting speculation:
"...This seems like a perfect opportunity to exploit 3D scanning technology to put the shapes of fossils, at least, into some kind of digital storage area where other researchers could look at a dig's haul and start to work with them spatially, or beside any of the other data that is collected in the field or logged during the cataloging procedure."
Now, Charles Q. Choi, a journalist who wrote about the discovery of Pegomastax africanus, says that Matt's idea isn't all that far-fetched. In fact, scientists already do something like this with the fossils that do get closely examined. Read the rest
Between the downfall of Jonah Lehrer, and Naomi Wolfe's new book that claims chemicals in women's brains force us to demand our lovers shower us with roses and candy and refer to us as "goddess"*, there's been some growing backlash against the long-popular idea of better living through neuroscience. You know what I'm talking about here: You (yes, you!) can succeed at work, be more creative, improve your relationships, and have a better sex life — all you have to do is read this one interpretation of the latest in neuroscience research!
Perhaps unsurprisingly, that pitch oversells the reality. What we know about how the brain works isn't really that clear cut. But more than that, the idea of scientific self-help quite often has to severely distort science in order to make any sense. The public comes away with a massive misunderstanding of what MRI does and doesn't tell us, what hormones like dopamine actually do, and what the lab tells us about real life.
There are two big essays that you need to read before you pick up another story or book that tries to make connections between cutting-edge brain science and real life. The first, in New Statesman, is by Steven Poole and the broad overview of why it's such a problem when neuroscience becomes neuro-speculation. The second, by Maia Szalavitz at Time Magazine's Healthland blog, focuses on Naomi Wolfe's new book and uses that as a springboard to talk about the bigger issue of brain chemicals, what they are, and what they aren't. Read the rest
A work of fiction doesn't have to be scientifically accurate. It just has to make sense. All it has to do is maintain an internal logic and consistency strong enough that you, the reader, aren't inadvertently thrown out of the world. If you're frequently frustrated by detail accuracy in fiction, that's likely your problem, not fiction's. Chill out. Breath deep. Smell the flowers. Experience some imagination and wonder.
I fully endorse all the sentiments outlined above. And yet. And yet. There are some fictional details that drive me crazy. Like the seasonal shifts in George R. R. Martin's A Song of Ice and Fire series, where winter and summer last for years—sometimes decades—and nobody knows exactly when the seasons will change. It's not that I feel a burning need to prove to Martin that this can't work. Instead, it makes me ravenously curious. I keep wondering whether, given what we know about astronomy, there's any way that this could actually work somewhere, in a galaxy far, far away.
A couple of weeks ago, io9's George Dvorsky put together a little round-up of five possible scientific explanations that would make Westeros' magical reality make more sense. I chatted about Dvorsky's list with Attila Kovacs, an actual astronomer who has a postdoc position at the California Institute of Technology. They've got differing perspectives on how unpredictable and ridiculously long seasons might work. Thanks to both these sources, I feel like I better understand our universe, and can read Martin more comfortably. Read the rest
A new study on the link between financial speculation in commodity markets and food-price spikes shows that the model can be used to predict future food-price spikes, strengthening the case that financial speculators (fleeing the collapse of the housing market) art the root cause of the violent food-price swings that have been blamed for global starvation, riots and political instability.
The new paper -- M. Lagi, Yavni Bar-Yam, K.Z. Bertrand, Yaneer Bar-Yam, UPDATE February 2012 — The Food Crises: Predictive validation of a quantitative model of food prices including speculators and ethanol conversion -- was produced under the auspices of the New England Complex Systems Institute.
Read the rest
In the new study, predictions made by the researchers’ original model are compared to actual food prices between March 2011 and January 2012. Placed on a graph, the lines match closely, and do so despite spanning a major change in price trends at the last bubble’s peak.
“If you have a straight line, extend it and say, ‘Aren’t we predictive,’ it doesn’t give that much confidence,” said Bar-Yam. “If it changes direction, that’s a much more severe test of what’s happening.”
Both the European Union and United States are now considering whether and how to limit commodity speculation. In the U.S., such limits are required by the Dodd-Frank Act, but have been fiercely resisted by the financial industry.
It’s expected that the U.S. Commodity Futures Trading Commission will enact speculation limits by the end of 2012, though they might still be blocked in court. But even if the rules pass, they’re arguably weak, focusing on “position limits,” or caps on the maximum number of contracts a single speculator can hold.