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by Editors — last modified Nov 16, 2014 01:32 PM
Contributors: Faiz Ahmed, JBB, Graham H. Cox, R. Dubois, JA Cox

Finance and the jelly bean problem | Tim Harford

by Graham H. Cox last modified Nov 22, 2014 11:16 AM
"The issue here is what we might call the “jelly bean problem”, after a cartoon by nerd hero Randall Munroe. The cartoon shows scientists testing whether jelly beans cause acne, applying a commonly used statistical test. The test is to assume that jelly beans don’t cause acne, then rethink that assumption if the observed correlation between jelly beans and acne has less than a 5 per cent probability of occurring by chance. The scientists test purple, brown, pink, blue, teal, salmon, red, turquoise, magenta, yellow, grey, tan, cyan, green, mauve, beige, lilac, black, peach and orange jelly beans. It turns out that the green ones are correlated with acne! This is, of course, no way to perform a statistical analysis. If 20 statistical patterns are analysed and there’s no genuine causal relationship in any of them, we’d still expect one of them to look strikingly correlated. (How strikingly? Well, about 19-1 against.)"

The link address is: http://timharford.com/2014/11/finance-and-the-jelly-bean-problem/

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Whitewashing Imperialism

by JBB last modified Nov 21, 2014 10:16 AM
by Emanuel Stoakes | Jacobin | When the media erases the crimes of US imperialism, they make future atrocities more likely.

The link address is: https://www.jacobinmag.com/2014/11/whitewashing-imperialism/

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The Power to Create Money in the Hands of the Banks

by JBB last modified Nov 21, 2014 10:03 AM
The same financial institutions that created the financial crisis are now entrusted with one of the most power tools to shape the economy - and many elected officials have no idea, says Ben Dyson of Positive Money | The Real News

The link address is: http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=12668

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G-20 Recommits to Lifting Private Sector Activity

by JBB last modified Nov 21, 2014 10:01 AM
They have managed to contaian a massive capitalist crisis and they may actually be realizing that massive government sector spending is required to save capitalism, says Prof. Leo Panitch the author of The Making of Global Capitalism. | The Real News

The link address is: http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=12681

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Why NATO is a Danger to World Peace

by JBB last modified Nov 21, 2014 09:59 AM
by Immanuel Wallerstein | Source: Towards Freedom (via Znet)

The link address is: https://zcomm.org/znetarticle/why-nato-is-a-danger-to-world-peace/

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Wall Street is Taking Over America’s Pension Plans | The Intercept

by Graham H. Cox last modified Nov 20, 2014 05:04 PM
" But Wall Street’s agenda goes beyond any one election cycle. It has been fighting to turn public pensions into private profits for quite some time, steering retirement nest eggs into investments that are complex, charge hefty fees, and that generate big profits for management firms. And it has been succeeding. Of the $3 trillion in public assets currently in pension funds throughout the country, almost a quarter of that has already found its way into so-called “alternative investments” like hedge funds, private equity and real estate. That translates to roughly $660 billion of public money now under private management, invested in assets that are often arcane and opaque but that offer high management and placement fees to Wall Street financiers."

The link address is: https://firstlook.org/theintercept/2014/11/20/huge-wall-street-story-one-talking/

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New report outlines the threat of CETA’s corporate rights protections | Scott Harris

by Graham H. Cox last modified Nov 20, 2014 02:18 PM
"For Canada, the report points to new risks posed by CETA’s expansive new corporate rights in the financial sector, which go far beyond NAFTA’s existing disciplines in the banking and insurance industries. “The risks for Canada of being sued by banks, insurers and holding companies will increase significantly with CETA. These risks are evident as speculative investors, backed by investment lawyers, are increasingly using investment arbitration to scavenge for profits by suing governments in financial crises. Also, most investment is coming to Canada from exactly those EU countries where investors are notorious claimants in investor-state disputes: the Netherlands and the UK.”"

The link address is: http://www.canadians.org/blog/new-report-outlines-threat-ceta%E2%80%99s-corporate-rights-protections

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£9,000-a-year students fight for a free education | Morning Star #cdnpse

by Graham H. Cox last modified Nov 20, 2014 02:01 PM
" Red flares were lit and chants of “Tory scum, here we come” rang out as thousands surged down Whitehall towards Westminster. They were met with a ring of steel but tore down the fences around Parliament Square after a brief scuffle with the police. Hundreds flooded onto the square when officers fled but most finished the largely peaceful march at a rally further down the road. Student spokeswoman Deborah Hermanns said the march was “just the beginning” of a new movement to scrap tuition fees. "

The link address is: http://www.morningstaronline.co.uk/a-25e3-9,000-a-year-students-fight-for-a-free-education

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Why the economy sucks (in one chart) | Toby Sanger

by Graham H. Cox last modified Nov 19, 2014 10:49 AM
" If we have a balanced budget and federal taxes have been cut to the lowest share of the economy in 70 years, why is out economy growing so slowly? It certainly isn’t because interest rates are low: instead they’re close to historic lows, so low they could fuel another asset boom and bust. It isn’t because businesses lack money to invest: they have a record $600 billion of excess cash they aren’t investing in the economy. It isn’t because we’re lacking labour: there are over 1.2 million officially unemployed with hundreds of thousands more underemployed."

The link address is: http://www.progressive-economics.ca/2014/11/12/why-the-economy-sucks-in-one-chart/

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