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Tarek Hoteit Notebook    

Thursday, July 02, 2009

When I'm Dead, How Will My Loved Ones Break My Password? - Cory Doctorow, The Guardian

When I'm Dead, How Will My Loved Ones Break My Password?
Cory Doctorow, The Guardian

"Tales from the encrypt: If you care about the integrity of your data,
it's time to investigate solutions for accessing and securing it -- and
not just for the here and now... Like an increasing number of people who
care about the security and integrity of their data, I have encrypted
all my hard-drives -- the ones in my laptops and the backup drives,
using 128-bit AES -- the Advanced Encryption Standard. Without the
passphrase that unlocks my key, the data on those drives is unrecoverable,
barring major, seismic advances in quantum computing, or a fundamental
revolution in computing. Once your data is cryptographically secured,
all the computers on earth, working in unison, could not recover it on
anything less than a geological timescale...

But what if I were killed or incapacitated before I managed to hand the
passphrase over to an executor or solicitor who could use them to
unlock all this stuff that will be critical to winding down my affairs
-- or keeping them going, in the event that I'm incapacitated? I don't
want to simply hand the passphrase over to my wife, or my lawyer. Partly
that's because the secrecy of a passphrase known only to one person and
never written down is vastly superior to the secrecy of a passphrase
that has been written down and stored in more than one place. Further,
many countries's laws make it difficult or impossible for a court to
order you to turn over your keys; once the passphrase is known by a
third party, its security from legal attack is greatly undermined, as
the law generally protects your knowledge of someone else's keys to a
lesser extent than it protects your own..."

http://www.guardian.co.uk/technology/2009/jun/30/data-protection-internet

Regards,
Tarek Hoteit
+1 (214) 770-9691
http://tarek.hoteit.org

9.5percent unemployment

BLS Service "Nonfarm payroll employment continued to decline in June (-467,000), and the unemployment rate was little changed
at 9.5 percent. Job losses were widespread across the
major industry sectors, with large declines in
manufacturing, professional and business services,
and construction."

http://www.bls.gov/news.release/pdf/empsit.pdf

Regards,
Tarek Hoteit
+1 (214) 770-9691
http://tarek.hoteit.org

Sunday, June 28, 2009

The Anticommunication

Check "The Anticommunication
Imperative" by Larry Richards at pearlheatherforge.wordpress.com
Regards,
Tarek Hoteit
+1 (214) 770-9691
http://tarek.hoteit.org

Emotions run high as Madoff sentencing nears | Reuters

Emotions run high as Madoff sentencing nears | Reuters writes:
"NEW YORK (Reuters) - Next Monday, Wall Street's biggest and most brazen crook, Bernard Madoff, will leave his jail cell to hear his punishment."

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struggles in life

very very old - National History Museum London


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from National History Museum London



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Darwin @ National History Museum London




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The National History Museum London



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also National History Museum London




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National History Museum London




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National History Museum London




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Saturday, June 27, 2009

Bloodline The Movie – do you believe in it?

imageJust finished watching 2008 documentary, Bloodline The Movie. The movie is very nice and the story is fascinating. Discoveries of a chest and a tomb with a mummy claims to support the Da Vinci Code storyline that Jesus Chris and Marie Magdalene were married and had children. The documentary features an amateur archeologist, Ben Hammott, who discovered all the clues at Rennes-le-Chateau that are believed to belong to Bérenger Saunière, a 19th century priest who is believed to have kept the secret but later murdered. I enjoyed the movie and have strong belief in what is being presented, but it remains to be proven academically and scientifically. Moreover, when goggling the discoveries mentioned in the documentary, you do not see any breaking news around the story which makes you wonder if the documentary findings are only as controversial as the UFO sights or simply just another profitable movie for those who made it or were part of it. 

 

 

from YouTube:

BLOODLINE investigates the popular belief that Jesus married Mary Magdalene, who fled to southern France with their child.
In a an adventure worthy of Indiana Jones, filmmaker Bruce Burgess and team make connections between the Knights Templar, the legend of Mary Magdalene, hidden clues found at the famed church at Rennes-le-Chateau and make some stunning discoveries: a buried chest with artifacts that date to first century Jerusalem and a tomb with a mummified corpse draped in a shroud bearing a distinctive red cross.
http://www.bloodlinethemovie.com

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with Darwin


With Darwin at Natural History Museum in London
http://www.nhm.ac.uk/
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Giant Preserved Squid at the Natural History Museum

 

 

check the preserved squid at the Natural History Museum.

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Some of Darwin's actual reserves

Darwin's private collections at the Natural History Museum in London.

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Species Collection Room at the Natural History Museum in London

Species Collection Room at the Natural History Museum in London

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Reserves at the Natural History Museum in London

Reserves at the Natural History Museum in London

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Where the Hell is Matt? (2008)

"14 months in the making, 42 countries, and a cast of thousands. Thanks to everyone who danced with me." Matt

http://www.wherethehellismatt.com

Test your Michael Jackson knowledge - CNN.com

How well do you know the King Of Pop? Take the quiz on CNN

Test your Michael Jackson knowledge - CNN.com

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What Is Your Favorite Michael Jackson Song? - Interactive Feature - NYTimes.com

What Is Your Favorite Michael Jackson Song? - Interactive Feature - NYTimes.com writes:
"Over his career Michael Jackson produced 13 No. 1 hits and earned 13 Grammys Awards, not to mention a legion of fans around the world. Below are eight of his biggest hits, with commentary by Sia Michel, The Times's pop music editor. Vote for your all-time favorite and tell us why here."

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Thursday, June 25, 2009

Fw: CNN Breaking news - Pop singer...

------ SMS Text ------
From: 26688
Sent: Jun 25, 2009 17:52
Subject: CNN Breaking news - Pop singer...

CNN Breaking news - Pop singer Michael Jackson has died, according to multiple reports. reply STOP 2 unsub
Regards,
Tarek Hoteit
+1 (214) 770-9691
http://tarek.hoteit.org

Sunday, June 21, 2009

Twitter on the Barricades - Six Lessons Learned - NYTimes.com

from NYTimes article

“Skeptics note that only a small number of people used Twitter to organize protests in Iran and that other means — individual text messaging, old-fashioned word of mouth and Farsi-language Web sites — were more influential. But Twitter did prove to be a crucial tool in the cat-and-mouse game between the opposition and the government over enlisting world opinion. As the Iranian government restricts journalists’ access to events, the protesters have used Twitter’s agile communication system to direct the public and journalists alike to video, photographs and written material related to the protests.”

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Thursday, June 04, 2009

“Prevalence of daily breakfast intake, iron deficiency anaemia and awareness of being anaemic among Saudi school students”(Bahaa Abalkhail & Sherine Shawky) – 2002 study

ABSTRACT

Iron deficiency anaemia is one of most prevalent nutritional disorders worldwide. It is known to affect the health and cognitive ability of children and adolescents.
Studies in Saudi Arabia concentrate only on the population of young children and pregnant females or girls. Studies on the whole school student population is lacking.
The objectives of this study were to identify the nutritional habits and the prevalence of anaemia among school students in Jeddah, as well as to recognize the students’ awareness of their anaemic nutritional status. Data were collected from a sample of Saudi school children in Jeddah City from 42 boys’ and 42 girls’ schools during the month of April 2000. Data collection was done by an in-person interview to collect socio-demographic factors, nutritional habits, weight and height. Haemoglobin was measured in a sample of 800 students selected at random from both genders and different age groups. Anaemia was defined according to the new WHO cut-off levels
for haemoglobin as: blood haemoglobin <11.5 g/dl for the 5–11 years boys and girls; <12.0 g/dl for 12–14 years boys and girls; <12.0 g/dl for 15+ girls and <13.0 g/dl for 15+ years boys. Proportion and 95% confidence intervals (CI) were calculated and significance was considered when the 95% CI did not overlap. Anaemia was reported among 20.5% of school students. Anaemia was more prevalent among students of at least 12 years as compared to the younger age group. Also, anaemia was more marked among governmental school attendees and those born to loweducated mothers. Menstruating girls were at around double the risk of being anaemic than non-menstruating girls. Anaemia was associated with negative impact on school performance and was more marked among those who failed their exams as compared to students with excellent results. Skipping breakfast was reported by 14.9% of students and this habit did not differ by age, sex, body mass index or social class. Skipping breakfast was more marked among students with poor school performance as compared to those with very good or excellent results. Only 34.1% of anaemic school students were aware of being anaemic. Awareness was nearly equal in all age groups and social classes but girls were more aware of their anaemic
status than boys. Iron deficiency anaemia appears to be prevalent among school students. At age 12 years and over, low social class and menstruating girls constitute the high-risk groups. Screening is recommended for high-risk groups and school health programs are crucial to improve students’ nutritional habits, knowledge and awareness.

International Journal of Food Sciences and Nutrition (2002) 53, 519–528

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FRB: Profits and Balance Sheet Developments at U.S. Commercial Banks in 2008

FRB: Federal Reserve Bulletin 2009 writes:

" Morten L Bech and Tara Rice June 2, 2009 Reviews recent developments in the balance sheets and in the profitability of U.S. commercial banks. The article discusses how developments in the U.S. banking industry in 2008 and early 2009 were related to changes in financial markets and in the broader economy.

PDF (318 KB)"

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Thursday, May 28, 2009

Muslim Demographics

from YouTube

"Report Evokes Promise of Mobile to Foster Social Development; Need for Cooperation Workshop Poster:W3C

W3C Public Newsletter 25 May 2009 writes:
2009-05-25: Today W3C publishes the report from the April 2009 Workshop on the Role of Mobile Technologies in Fostering Social Development. Participants discussed how numerous services available on mobile phones could help people in underserved regions. Discussion underlined the need for a concerted effort among all the stakeholders (including practitioners, academics, regulators, governments, and the mobile industry) to build a shared view of the future of the mobile platform as a tool to bridge the digital divide. The Workshop was jointly organized by the W3C Mobile Web Initiative and the Ministry of Science and Technology of the Government of Mozambique, with the generous support of Gold Sponsors UNDP, the Web Foundation, Nokia, and Bharti Telesoft; and Silver Sponsors Opera Software, UNESCO, Microsoft Research, and MIT Legatum Center for Development and Entrepreneurship. This work is part of the Digital World Forum project (European Union's FP7). Learn more about the W3C Mobile Web for Social Development Interest Group and the W3C Mobile Web Initiative. (Permalink)"

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Sunday, May 24, 2009

Data.gov

Data.gov writes:
"Data.gov The purpose of Data.gov is to increase public access to high value, machine readable datasets generated by the Executive Branch of the Federal Government….Data.gov includes a searchable data catalog that includes access to data in two ways: through the "raw" data catalog and using tools.”

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Monday, May 18, 2009

Working Paper No. 09/100: Financial Stress, Downturns, and Recoveries

* Working Paper No. 09/100: Financial Stress, Downturns, and Recoveries

Author/Editor: Cardarelli, Roberto; Elekdag, Selim; Lall, Subir

Summary: This paper examines why some financial stress episodes lead to economic downturns. The paper identifies episodes of financial turmoil using a financial stress index (FSI), and proposes an analytical framework to assess the impact of financial stress-in particular banking distress-on the real economy. It concludes that financial turmoil characterized by banking distress is more likely to be associated with severe and protracted downturns than stress mainly in securities or foreign exchange markets. Economies with more arms-length financial systems appear to be particularly vulnerable to sharp contractions, due to the greater procyclicality of leverage in their banking systems.
http://www.imf.org/external/pubs/cat/longres.cfm?sk=22923.0

Regards,
Tarek Hoteit
+1 (469) 619-5577
http://tarek.hoteit.org

Fw: [Behavioral-Finance] Digest Number 2111


Regards,
Tarek Hoteit
+1 (469) 619-5577
http://tarek.hoteit.org


From: Behavioral-Finance@yahoogroups.com
Date: Mon, 18 May 2009 06:21:13 -0400 (EDT)
To: <Behavioral-Finance@yahoogroups.com>
Subject: [Behavioral-Finance] Digest Number 2111

Messages In This Digest (2 Messages)

Messages

1a.

Article: Five reasons 'neuroeconomics' is a big, fat hoax

Posted by: "Martin Sewell" mvs25@cam.ac.uk   martinsewell1

Sun May 17, 2009 9:53 am (PDT)





Paul B. Farrell
[Paul B. Farrell]
May 11, 2009, 7:14 p.m. EST
Five reasons 'neuroeconomics' is a big, fat hoaxWhy? They're
mercenaries-for-hire working for Wall Street's highest bidders
By Paul B. Farrell <mailto:PaulBFarrell@charter.net> , MarketWatch

ARROYO GRANDE, Calif. (MarketWatch) -- Yes, neuroeconomics is a hoax.And
I'm "mad as hell" about it. Call it whatever name you want, they'reall
the same: Behavioral finance, psychology of investing,
behavioraleconomics, the "new science of irrationality." Let's call
it"neuroeconomics." And yes, it's a scam, a con job, propaganda, a
bigfat hoax.

Neuroeconomists sell themselves as guardians of the little guy.
Wrong.Just the opposite. They are your enemy, working for Wall Street
andWashington, developing data, tools and technologies to
secretlymanipulate investors, savers, voters and taxpayers.
Plumbing the investor mood
What does the state of investor sentiment hint about the market's
outlook? Barron's Mike Santoli reports.

Don'tbelieve me? I didn't believe it at first. Back in 2002 when
Princetonpsychologist Daniel Kahneman won the Nobel Economics Prize I
wasecstatic. He exposed Wall Street's two-century-old myth of
the"rational investor." We cheered. Yes, investors are irrational, but
wecan change. Right? Maybe Wall Street will even help.

Fat chance. Since then, neuroeconomists chased the almighty buck
too,doing whatever it takes to get research grants, speaking
fees,university tenure and juicy consulting contracts with Wall
Street,Washington and Corporate America. They are obsessed with
pretty-coloredMRI brain scans, misusing the scientific method,
exaggerating,misinterpreting research.

The result? In recent years many of their publications resemble
highschool level self-help "Psych 101" books with cute titles
like"Freakonomics," "Nudge," "Sway," "Animal Spirits," "Blink,"
"Blunder"and other pulp nonfiction packaged for mass-market consumption.

Since 2002, neuroeconomics has failed Americans in 5 key ways:
1. Neuroeconomics is a light-weight self-help marketing gimmick
Pretty colorful brain scans are window dressing, like photos of
sexymodels in bikinis selling muscle cars and cigarettes. The scam
issubtle and dangerous. A few years after Kahneman's Nobel I ran across
astudy by Deena Skolnick Weisberg. Her Yale mentor Paul Bloom
summarizedher psychology experiment in Seed magazine:

Weisberg "asked her subjects to judge different explanations of
apsychological phenomenon. Some of these explanations were crafted to
beawful. And people were good at noticing that they were awful --
unlessSkolnick inserted a few sentences of neuroscience."

However, her neuroscience references were "entirely irrelevant,basically
stating that the phenomenon occurred in a certain part of thebrain. But
they did the trick: For the novices and the experts(cognitive
neuroscientists in the Yale psychology department), thepresence of a bit
of apparently hard science turned bad explanationsinto satisfactory
ones."

The human brain is so gullible: "It's amazing how many people(including
many who should know better) see functional brain imaging as'showing us
directly what the brain is doing,' rather than as providingyet another
dependent measure."

That was a few years ago, before the meltdown of the credit
bubblecreated by Wall Street's army of quants,
neuroeconomists,psychologists, ad executives, demographers and
statisticians -- thosesame geniuses will never stop developing ways to
penetrate thepsychological defenses you (falsely) believe you get from
reading thosemisleading books about neuroeconomists.
2. Neuroeconomics will never deliver on its bogus promise
What is their promise? Very simple: Neuroeconomists promise that
ifinvestors, taxpayers and voters simply follow the advice
ofneuroeconomists, they'll get rich. Your 401(k) and your
retirementportfolios will prosper because neuroeconomics promises to
make you"less irrational," in control of your brain, and therefore,
asuccessful investor.

Sorry, but that'll never happen. Never. The human brain is, and
alwayswill be, irrational. Not because all their books are based on
junkscience, anecdotes, broad conclusions from small samples and
prettybrain scans calculated to mislead readers. Not because the human
brainis historically and genetically "irrational," incapable
ofreprogramming itself. Not because our brains' "irrational"
hemisphereis in a perpetual battle with the rational hemisphere. And not
becausethe human brain prides itself in being irrational for fear of
becominga robot like the masses in "1984," "Fahrenheit 451" and
the"Terminator."

Yes, all that's true, but there's is a more accurate and far
biggerreason why the human brain is always irrational, vulnerable, easy
tocontrol and manipulate. Neuroeconomics is based on a false
premise:That "irrational investors" can teach themselves to become
"lessirrational." And yet, the more we learn about our irrational
brains,the more we dupe ourselves into believing we're in control and
actingrationally, even though we are not.

Remember, 88% of our behavior is driven by the subconscious, by stuffwe
don't grasp but quants can define and control with their algorithms.So
they can manipulate you into making irrational decisions. Amazingisn't
it: Your brain really is your worst enemy.
3. Neuroeconomics works for Wall Street, keeping us irrational
The biggest reason the human brain will always remain irrational
isbecause Wall Street wants it that way. Wall Street can
controlirrational Americans better using its high-tech neuroeconomic
data,strategies and algorithms. As University of Chicago Prof.
RichardThaler (co-author of "Nudge" with Obama appointee Cass Sunstein)
wrotein his earlier classic, "Advances in Behavioral Finance II:"
WallStreet "needs investors who are irrational, woefully
uninformed,endowed with strange preferences, or for some other reason
willing tohold overpriced assets." He describes "these conditions
collectively asirrational."

Get it? Wall Street does not want rational, informed investors.
WallStreet is a money machine, in a good year generating hundreds
ofbillions in fees, commissions, bonuses, and options for insiders.
Yes,these folks created the credit meltdown, but arrogantly feel
they'vesuffered more than Main Street, and are already using the same
scam toregain power.

And they are always one step ahead of you and whatever you think youget
from their neuroeconomics books. They really are working for WallStreet
insiders. What they're doing is similar to DNA mapping, exceptthe
neuroeconomists use MRIs to map your irrational behavioralpatterns,
then, like a CIA intelligence team secretly monitoring theenemy, their
quants develop algorithms that help Wall Street target thelittle guy
with new "financial weapons of mass destruction" thatmanipulate
financial markets.
4. Neuroeconomists are biased, partisan, political mercenaries
Admit it, under all the fancy jargon, neuroeconomists, as indeed
alleconomists, are biased about their political ideologies. "What Good
AreEconomists Anyway?" screamed a recent BusinessWeek cover: "The rap
oneconomists, only somewhat exaggerated, is that they are
overconfident,unrealistic and political. They claim a precision that
neither theirraw material nor their skill warrants.

BusinessWeek made clear one key point: All economists,
includingneuroeconomists, are political animals whose opinions are up
for sale:"No surprise, the equilibrium school mainly leans Republican,
and theinterventionist school seems to be crawling with Democrats." In
short,all economists are political mercenaries-for-hire who can "prove"
anyscenario.
5. Neuroeconomics misleads Main Street, helping the rich get richer
In Congressional testimony last October, Alan Greenspan admitted thatthe
Reaganomics and Milton Friedman ideology failed America: "I made
amistake in presuming that the self-interests of
organizations,specifically banks and others, were such as that they were
best capableof protecting their own shareholders and their equity."
There was "aflaw in the model ... that defines how the world works."

Our leaders and their greedy ideologies failed us: "Those of us whohave
looked to the self-interest of lending institutions to
protectshareholders' equity, myself included, are in a state of
shockeddisbelief," he told Congress. Unregulated markets "held sway
fordecades" ... then "the whole intellectual edifice, however,
collapsed."

Economist Barry Eichengreen summarized it beautifully in "The
NationalInterest." There was a widespread cultural mindset dominating
everyonefrom Friedman in the `960s on to Reagan, Greenspan, Bush and
Paulson.Worse yet, the Dems collaborated as this "virus" invaded
everyone,including working economists in business, academia, regulators,
riskassessment officers, think tanks, and a naive public, creating a
"herdbehavior, where everyone follows the crowd, giving rise to
bubbles,panics and crashes [and] extreme instability" from the dot-com
crash tothe recent bank-credit meltdown.

Unfortunately, economists, quants and neuroeconomists mastered
thisnumbers game so beautifully they could "build models with virtually
anyimplication." As mercenaries they prove any scenario they're paid
toprove, conservative or liberal, Washington or Wall Street, which
means"that policymakers could pick and choose at their convenience."

So that's my five reasons: But do you agree that neuroeconomics --
WallStreet's lethal cocktail of psychology, mathematics and investing
mixedwith politics, marketing and propaganda -- is a con job, a scam, a
bigfat hoax? Is it an objective science protecting average Americans or
away for Wall Street to get richer? What do you think, and why.
Copyright � 2009 MarketWatch, Inc. All rights reserved.
<http://www.omniture.com>
source:
http://www.marketwatch.com/story/five-reasons-neuroeconomics-is-a-big-fa\
t-hoax

<http://www.marketwatch.com/story/five-reasons-neuroeconomics-is-a-big-f\
at-hoax
>
1b.

Re: Article: Five reasons 'neuroeconomics' is a big, fat hoax

Posted by: "pgreenfinch" pgreenfinch@orange.fr   pgreenfinch

Sun May 17, 2009 10:37 am (PDT)



Wow, a case of angry neurons ;-)
Peter

--- In Behavioral-Finance@yahoogroups.com, "Martin Sewell" <mvs25@...> wrote:
>
>
>
> Paul B. Farrell
> [Paul B. Farrell]
> May 11, 2009, 7:14 p.m. EST
> Five reasons 'neuroeconomics' is a big, fat hoaxWhy? They're
> mercenaries-for-hire working for Wall Street's highest bidders
> By Paul B. Farrell <mailto:PaulBFarrell@...> , MarketWatch
>
> ARROYO GRANDE, Calif. (MarketWatch) -- Yes, neuroeconomics is a hoax.And
> I'm "mad as hell" about it. Call it whatever name you want, they'reall
> the same: Behavioral finance, psychology of investing,
> behavioraleconomics, the "new science of irrationality." Let's call
> it"neuroeconomics." And yes, it's a scam, a con job, propaganda, a
> bigfat hoax.
>
> Neuroeconomists sell themselves as guardians of the little guy.
> Wrong.Just the opposite. They are your enemy, working for Wall Street
> andWashington, developing data, tools and technologies to
> secretlymanipulate investors, savers, voters and taxpayers.
> Plumbing the investor mood
> What does the state of investor sentiment hint about the market's
> outlook? Barron's Mike Santoli reports.
>
> Don'tbelieve me? I didn't believe it at first. Back in 2002 when
> Princetonpsychologist Daniel Kahneman won the Nobel Economics Prize I
> wasecstatic. He exposed Wall Street's two-century-old myth of
> the"rational investor." We cheered. Yes, investors are irrational, but
> wecan change. Right? Maybe Wall Street will even help.
>
> Fat chance. Since then, neuroeconomists chased the almighty buck
> too,doing whatever it takes to get research grants, speaking
> fees,university tenure and juicy consulting contracts with Wall
> Street,Washington and Corporate America. They are obsessed with
> pretty-coloredMRI brain scans, misusing the scientific method,
> exaggerating,misinterpreting research.
>
> The result? In recent years many of their publications resemble
> highschool level self-help "Psych 101" books with cute titles
> like"Freakonomics," "Nudge," "Sway," "Animal Spirits," "Blink,"
> "Blunder"and other pulp nonfiction packaged for mass-market consumption.
>
> Since 2002, neuroeconomics has failed Americans in 5 key ways:
> 1. Neuroeconomics is a light-weight self-help marketing gimmick
> Pretty colorful brain scans are window dressing, like photos of
> sexymodels in bikinis selling muscle cars and cigarettes. The scam
> issubtle and dangerous. A few years after Kahneman's Nobel I ran across
> astudy by Deena Skolnick Weisberg. Her Yale mentor Paul Bloom
> summarizedher psychology experiment in Seed magazine:
>
> Weisberg "asked her subjects to judge different explanations of
> apsychological phenomenon. Some of these explanations were crafted to
> beawful. And people were good at noticing that they were awful --
> unlessSkolnick inserted a few sentences of neuroscience."
>
> However, her neuroscience references were "entirely irrelevant,basically
> stating that the phenomenon occurred in a certain part of thebrain. But
> they did the trick: For the novices and the experts(cognitive
> neuroscientists in the Yale psychology department), thepresence of a bit
> of apparently hard science turned bad explanationsinto satisfactory
> ones."
>
> The human brain is so gullible: "It's amazing how many people(including
> many who should know better) see functional brain imaging as'showing us
> directly what the brain is doing,' rather than as providingyet another
> dependent measure."
>
> That was a few years ago, before the meltdown of the credit
> bubblecreated by Wall Street's army of quants,
> neuroeconomists,psychologists, ad executives, demographers and
> statisticians -- thosesame geniuses will never stop developing ways to
> penetrate thepsychological defenses you (falsely) believe you get from
> reading thosemisleading books about neuroeconomists.
> 2. Neuroeconomics will never deliver on its bogus promise
> What is their promise? Very simple: Neuroeconomists promise that
> ifinvestors, taxpayers and voters simply follow the advice
> ofneuroeconomists, they'll get rich. Your 401(k) and your
> retirementportfolios will prosper because neuroeconomics promises to
> make you"less irrational," in control of your brain, and therefore,
> asuccessful investor.
>
> Sorry, but that'll never happen. Never. The human brain is, and
> alwayswill be, irrational. Not because all their books are based on
> junkscience, anecdotes, broad conclusions from small samples and
> prettybrain scans calculated to mislead readers. Not because the human
> brainis historically and genetically "irrational," incapable
> ofreprogramming itself. Not because our brains' "irrational"
> hemisphereis in a perpetual battle with the rational hemisphere. And not
> becausethe human brain prides itself in being irrational for fear of
> becominga robot like the masses in "1984," "Fahrenheit 451" and
> the"Terminator."
>
> Yes, all that's true, but there's is a more accurate and far
> biggerreason why the human brain is always irrational, vulnerable, easy
> tocontrol and manipulate. Neuroeconomics is based on a false
> premise:That "irrational investors" can teach themselves to become
> "lessirrational." And yet, the more we learn about our irrational
> brains,the more we dupe ourselves into believing we're in control and
> actingrationally, even though we are not.
>
> Remember, 88% of our behavior is driven by the subconscious, by stuffwe
> don't grasp but quants can define and control with their algorithms.So
> they can manipulate you into making irrational decisions. Amazingisn't
> it: Your brain really is your worst enemy.
> 3. Neuroeconomics works for Wall Street, keeping us irrational
> The biggest reason the human brain will always remain irrational
> isbecause Wall Street wants it that way. Wall Street can
> controlirrational Americans better using its high-tech neuroeconomic
> data,strategies and algorithms. As University of Chicago Prof.
> RichardThaler (co-author of "Nudge" with Obama appointee Cass Sunstein)
> wrotein his earlier classic, "Advances in Behavioral Finance II:"
> WallStreet "needs investors who are irrational, woefully
> uninformed,endowed with strange preferences, or for some other reason
> willing tohold overpriced assets." He describes "these conditions
> collectively asirrational."
>
> Get it? Wall Street does not want rational, informed investors.
> WallStreet is a money machine, in a good year generating hundreds
> ofbillions in fees, commissions, bonuses, and options for insiders.
> Yes,these folks created the credit meltdown, but arrogantly feel
> they'vesuffered more than Main Street, and are already using the same
> scam toregain power.
>
> And they are always one step ahead of you and whatever you think youget
> from their neuroeconomics books. They really are working for WallStreet
> insiders. What they're doing is similar to DNA mapping, exceptthe
> neuroeconomists use MRIs to map your irrational behavioralpatterns,
> then, like a CIA intelligence team secretly monitoring theenemy, their
> quants develop algorithms that help Wall Street target thelittle guy
> with new "financial weapons of mass destruction" thatmanipulate
> financial markets.
> 4. Neuroeconomists are biased, partisan, political mercenaries
> Admit it, under all the fancy jargon, neuroeconomists, as indeed
> alleconomists, are biased about their political ideologies. "What Good
> AreEconomists Anyway?" screamed a recent BusinessWeek cover: "The rap
> oneconomists, only somewhat exaggerated, is that they are
> overconfident,unrealistic and political. They claim a precision that
> neither theirraw material nor their skill warrants.
>
> BusinessWeek made clear one key point: All economists,
> includingneuroeconomists, are political animals whose opinions are up
> for sale:"No surprise, the equilibrium school mainly leans Republican,
> and theinterventionist school seems to be crawling with Democrats." In
> short,all economists are political mercenaries-for-hire who can "prove"
> anyscenario.
> 5. Neuroeconomics misleads Main Street, helping the rich get richer
> In Congressional testimony last October, Alan Greenspan admitted thatthe
> Reaganomics and Milton Friedman ideology failed America: "I made
> amistake in presuming that the self-interests of
> organizations,specifically banks and others, were such as that they were
> best capableof protecting their own shareholders and their equity."
> There was "aflaw in the model ... that defines how the world works."
>
> Our leaders and their greedy ideologies failed us: "Those of us whohave
> looked to the self-interest of lending institutions to
> protectshareholders' equity, myself included, are in a state of
> shockeddisbelief," he told Congress. Unregulated markets "held sway
> fordecades" ... then "the whole intellectual edifice, however,
> collapsed."
>
> Economist Barry Eichengreen summarized it beautifully in "The
> NationalInterest." There was a widespread cultural mindset dominating
> everyonefrom Friedman in the `960s on to Reagan, Greenspan, Bush and
> Paulson.Worse yet, the Dems collaborated as this "virus" invaded
> everyone,including working economists in business, academia, regulators,
> riskassessment officers, think tanks, and a naive public, creating a
> "herdbehavior, where everyone follows the crowd, giving rise to
> bubbles,panics and crashes [and] extreme instability" from the dot-com
> crash tothe recent bank-credit meltdown.
>
> Unfortunately, economists, quants and neuroeconomists mastered
> thisnumbers game so beautifully they could "build models with virtually
> anyimplication." As mercenaries they prove any scenario they're paid
> toprove, conservative or liberal, Washington or Wall Street, which
> means"that policymakers could pick and choose at their convenience."
>
> So that's my five reasons: But do you agree that neuroeconomics --
> WallStreet's lethal cocktail of psychology, mathematics and investing
> mixedwith politics, marketing and propaganda -- is a con job, a scam, a
> bigfat hoax? Is it an objective science protecting average Americans or
> away for Wall Street to get richer? What do you think, and why.
> Copyright � 2009 MarketWatch, Inc. All rights reserved.
> <http://www.omniture.com>
> source:
> http://www.marketwatch.com/story/five-reasons-neuroeconomics-is-a-big-fa\
> t-hoax
> <http://www.marketwatch.com/story/five-reasons-neuroeconomics-is-a-big-f\
> at-hoax>
>

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Friday, May 15, 2009

EPI News - The human toll of job loss

EPI News writes:
"EPI President Lawrence Mishel addresses the human toll of this recession with an analysis predicting that, even using conservative forecasts for future job loss, the poverty rate for children could increase from an already high 18% -- where it stood in 2007, -- to more than 27% by next year. Poverty among African American children, currently at a staggering 34.5%, could reach 50% before the employment picture starts to turn around."

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Bradley Hemminger: Suggestions for a Global Shared Scholarly Annotation System,

Bradley Hemminger NeoNote: Suggestions for a Global Shared Scholarly Annotation System writes:
"There is a need for integrated support for annotation and sharing within the primary tool used for interacting with the World Wide Web, which today is a web browser. Based on prior work and user studies in our research lab, we1 propose design recommendations for a global shared annotation system, for the domain of scholarly research. We describe a system built using these design recommendations (NeoNote), and provide an example video demonstrating the suggested features. Finally, we discuss the major challenges that remain for implementing a global annotation system for sharing scholarly knowledge."

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Wednesday, May 13, 2009

Reuters - Hate goes viral on social network sites: group

This article was sent to you from tarek@hoteit.org, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
http://mobile.reuters.com

Hate goes viral on social network sites: group

Wednesday, May 13, 2009 7:29PM UTC

By Claudia Parsons

NEW YORK (Reuters) - Militants and hate groups increasingly use social networking sites such as Facebook, MySpace and YouTube as propaganda tools to recruit new members, according to a report by the Simon Wiesenthal Center.

The report released on Wednesday noted a 25 percent rise in the past year in the number of "problematic" social networking groups on the Internet.

The report was based on "over 10,000 problematic Web sites, social networking groups, portals, blogs, chat rooms, videos and hate games on the Internet which promote racial violence, anti-semitism, homophobia, hate music and terrorism."

"Every aspect of the Internet is being used by extremists of every ilk to repackage old hatred, demean the 'Enemy,' to raise funds and since 9/11, recruit and train Jihadist terrorists," the Center said in a statement.

Examples of what the report calls "digital terrorism and hate" range from a Facebook group named "Death to gays" in Croatian to a YouTube video of a Koran being burned and various Web sites promoting militant groups such as Hezbollah, the Taliban, al Qaeda and Colombia's FARC.

The Jewish human rights group named for the renowned Nazi hunter has been monitoring use of the Internet by extremists for over a decade. It said the rise of social networking sites such as Facebook had accelerated the spread of racist and bigoted views in recent years.

It said Facebook officials had met with its experts and pledged to remove sites that violate its terms of usage, "but with over 200 million users, online bigots have to date outpaced efforts to remove them."

HARD TO ERADICATE

Rabbi Abraham Cooper, associate dean of the center, said Facebook recently removed several Holocaust denial sites, including one that featured a cartoon of Adolf Hitler in bed with Anne Frank, whose diary written in hiding from the Nazis in Amsterdam is among the best known stories of the Holocaust.

"The main social networkers understand they have a problem," Cooper told Reuters. "The company that's tried to do its best so far has been Facebook, yet we've seen that sometimes your best isn't enough to eliminate a problem."

He pointed out a YouTube user whose racist content has caused his postings on the site to be taken down repeatedly, but he simply creates a new user profile, or channel, and posts the material again, boasting that it is his 64th channel.

Extremist groups are also setting up their own social networking sites, the report said, picking out one called "New Saxon," described as "a Social Networking site for people of European descent" produced by an American Neo-Nazi group called the National Socialist Movement.

Other groups have created online games such as one created by an Iranian organization and called "Special Operation 85 - Hostage Rescue," and one called "Border Patrol" in which the player has to shoot Mexicans, including women and children, as they try to come over the border into the United States.

Leena Shehadeh, a 17-year-old who attended a presentation of the report with her class in New York, said such games and racist language are often treated as jokes by her generation.

"We didn't live through the Holocaust, we didn't live through slavery," she said during an audience discussion. "So people see it as a joke, until something bad happens."

(Editing by Frank Jack Daniel and Ellen Wulfhorst)

Tuesday, May 12, 2009

C-SPAN | Pres. Carter on Lessons Learned from 1979 Energy Crisis

C-SPAN | Capitol Hill, The White House and National Politics writes:
"Pres. Carter on Lessons Learned from 1979 Energy Crisis Today Pres. Jimmy Carter offered an historical perspective on the impact of energy issues on national security before a Senate Foreign Relations Cmte. hearing. During his time in office, the Iranian Revolution resulted in an oil shortage and high gasoline prices that increased tensions between the two nations."

image

see the video

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Sunday, May 10, 2009

Economic Statistics - Quarterly Data for U.S. Department of the Treasury – May 2009

US Treasury Department released an updated monthly and quarterly economic statistics.

Monthly Statistics

http://www.ustreas.gov/offices/economic-policy/macroecon/monthly_economic_data.pdf

Quarterly Statistics

http://www.ustreas.gov/offices/economic-policy/macroecon/quarterly_economic_data.pdf

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Saturday, May 09, 2009

Re: The role of emotion in decision-making: Evidencefrom neurological patients with orbitofrontal damage (2004) -Antoine Bechara

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The role of emotion in decision-making: Evidencefrom neurological patients with orbitofrontal damage (2004) -Antoine Bechara

The role of emotion in decision-making: Evidence from neurological patients with orbitofrontal damage
Antoine Bechara

http://www.hss.caltech.edu/~steve/bechara.pdf

Regards,
Tarek Hoteit
+1 (469) 619-5577
http://tarek.hoteit.org

The role of emotion in decision-making: Evidence

from neurological patients with orbitofrontal damage (2004) -Antoine Bechara
From: "Tarek Hoteit" <tarek.hoteit@waldenu.edu>
Date: Sat, 9 May 2009 20:19:07 +0000
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The role of emotion in decision-making: Evidence from neurological patients with orbitofrontal damage
Antoine Bechara

http://www.hss.caltech.edu/~steve/bechara.pdf

Regards,
Tarek Hoteit
+1 (469) 619-5577
http://tarek.hoteit.org