Blog & Investment: Paul Krugman's The Conscience of a Liberal

I am more of a web-researcher, knowledge-starver than I am of a blog reader. What I mean is that, I look for information, but I don't really get them from blogs.

The reason being, partially due to my ignorance and partially due to my narrow-mindedness, I don't know too many blogs which are focused enough in their aims (and in English).

Some blogs aim to share their personal feelings with friends (understandable), some aim to promote their latest songs and videos (practical), some aim to spread their views on politics and gain support (strategic), but not my cup of tea. I want to learn something when I am reading, and thus I will share with you the blog of Paul Krugman (winner of the 2008 Nobel Memorial Prize in Economics), The Conscience of a Liberal.

First of all, I have to say, I don't fully understand all the concepts that are discussed on his blog, but if you are truly interested in learning more about economics, you will get better as you read on.

I really find his short entries entertaining. In between the lines, you can see that Dr. Krugman is a person who knows his humour and he uses them at just the right amount. I like his "humour-in-sarcasm" and "truth-in-sarcasm" the most.

After reading his book, I know that he can really make understanding economics easy, and as we all know, making something look easy enhances the interests of learning. A great example can be found in his entry dated 9th Jun 2009, Dismal Hours, showing the diagram of the Aggregate Weekly Hour Index of the Total Private Industries plotting against Time.

What it actually indicates is very simple, that "the more hours people work, the better chance for the economy to recover". Year 2002 was the beginning of the last US recession, and it was marked at 100. So right now, the situation is a little worse than that time, and it is going down fast and shape, thus "the US data don’t even show stabilization, let alone recovery."[1]

So you see? It's not difficult to understand, isn't it?

Thank you Dr. Krugman!

He also posted some of his lecture notes on his blog!

http://www.princeton.edu/~pkrugman/Lecture%201.pdf

http://www.princeton.edu/~pkrugman/Lecture%201.pdf

http://www.princeton.edu/~pkrugman/Lecture%201.pdf

Citation:

[1] http://krugman.blogs.nytimes.com/2009/06/09/dismal-hours/

Picture resources:

http://graphics8.nytimes.com/images/blogs_v3/krugman/krugman_main.png

http://www.princeton.edu/~pkrugman/hours.png

Resources:

http://krugman.blogs.nytimes.com/

Vocabulary: Parallel Import / Grey Product

During the discussion in a lesson last Saturday, one of the groups came to me with a term that I have always wanted to know, but never remembered to look for, and what is that?

Let's guess, see how many tips do you need to reach the final answer:

1. It has to do with shopping


2. It comes in 2 types


3. Both types are legal


4. They are the same product


5. Both types are sold in the same shop


6. One type is cheaper than the other


7. One type is all new, the other is mostly new but sometimes used


8. They are sold outside normal distribution channels by companies which may have no relationship with the producer of the goods


9. One buys the product where it is available cheaply, often at retail but sometimes at wholesale, and imports it legally to the target market


10. They are mostly electronics suchs as cameras or mobile phones.

So do you know what I am talking about now? I'm referring to the parallel import or the grey products.

Do you own any? I do. Fancy a new iPhone 3GS, anyone? I don't.

Other terms to do with the grey products are:

Tariff -- is a duty imposed on foreign goods. They are usually associated with protectionism, the economic policy of restraining trade between nations.

Bootlegging -- usually refers to making, transporting and/or selling illegal alcoholic liquor or copyrighted material; the term originates from concealing flasks of alcohol in the legging of boots.

Question: What is the name of the product that is illegal called in English and what is the one you can buy from Broadway, Fortress or Gome called in English?

Resources:

http://en.wikipedia.org/wiki/Parallel_import

http://en.wikipedia.org/wiki/Grey_market

http://en.wikipedia.org/wiki/Tariff

http://en.wikipedia.org/wiki/Bootlegging

Picture resources:

http://images.macworld.com/images/news/graphics/141031-iphone3gs_original.jpg

Movie: Night at the Museum: Battle of the Smithsonian

Have you watched the first "Night at the Museum"back in 2006? I really like the first one as it gave me all new sensation about the boring museum. It is the truth that I hardly like visiting museum, and I don't find anything in it that can interest me for more than 5 minutes -- I was a come-and-goer, but if a museum could really become so alive like this one! It would be awesomely fun!

In the first movie, Ben Stiller couldn't find a decent job and had to settle for a night security guard position at the Museum of Natural History. The inexperienced watchman witnessed the chaos  of his lifetime, that the exhibits came to life after sun set. Characters who interested me most were Teddy Roosevelt (Robin Williams), Dexter (Crystal the monkey), Jedediah Smith (Owen Wilson), Octavius (Steve Coogan) and Sacajawea (Mizuo Peck).

In the sequel of this movie, Larry Daley (Ben Stiller) started off as a successful CEO of his own company, but at the same time had lost his direction in life. In search for his direction once again, he received a news that his old friends, together with the Egyptian Gold Plate, in the Museum of Natural History were to be moved to the federal storage at the famous Washington Museums while the former was being renovated.  New characters like Amelia Earhart (Amy Adams) , Napolean (Alain Chabat), Kah Mun Rah (Hank Azaria)  and the cute Cookie Monster from Seasame Street. However, due to the long list of characters, some of the prominent ones' roles had to be trimmed down which was rather sad for the fans. But overall, there were more to see, better actions and better computer graphics. 

I like the injection of the love line for Larry and Amelia -- a little love makes the whole a better place, and I favour the catchy arguments between Larry and Kah Mun Rah, lots of quotes from there! So overall, this is a movie to watch this Summer and it is one I would get for my blu-ray disc list (despite the fact that I still don't have a blu-ray player!!!Waiting for PS3 to cut price.)

The only thing that I hate is the cupids singing lame songs. Why would they be singing rap or Titanic theme songs?!!!!

PS: Do also check out the movie clips of Ben Stiller winning the MTV Generation Award at the bottom of this entry.

My favourite quotes:

Larry Daley: I'm sorry. Last time I checked, I thought we lived in a free country. So... 

Brandon: No, we don't. 

Larry Daley: No? 

Brandon: It's the United States of "Don't Touch That Thing Right in Front of You."

Kah Mun Rah: [dramatically] I have come back to life! 

Larry Daley: No, I heard that. I got that. Welcome back. 

Kah Mun Rah: [Confronting Vader] 

Kah Mun Rah: Is that you breathing? Because I can't hear myself think! There's too much going on here; you're asthmatic, you're a robot. And why the cape? Are we going to the opera? I don't think so.

Resources:

Official Website

http://www.nightatthemuseummovie.com/

IMDB

http://www.imdb.com/title/tt1078912/

Ben Stiller winning the MTV Generation Award Part 1:

http://www.mtv.com/videos/misc/395500/2009-mtv-movie-awards-zac-efron-triumph-the-insult-comic-dog-and-kiefer-sutherland-introduce-the-generation-award.jhtml#id=1611658

Ben Stiller winning the MTV Generation Award Part 2:

http://www.mtv.com/videos/misc/395501/2009-mtv-movie-awards-ben-stiller-accepts-the-mtv-generation-award.jhtml#id=1611658

picture resources:

http://www.cectheatres.com/assets/night-at-the-museum-battle-of-the-smithsonian-poster-0.jpg

Science & Technology : Hydrogen Future

WORLD OF HYDROGEN

Using wind and solar power, NASA plans to produce fuel for a hydrogen-powered Cleveland bus to demonstrate what may be an ultimate in renewable energy.

Thinking about clean fuel like I do?

Natural gas, petroleum, coal are out due to the carbon dioxide (CO2) they emit during combustion. Solar power (energy from sun), hydropower such as tidal power and wave power, and wind power are among my favourite ones because they cause no greenhouse gases, but they next level, is definitely the eco-friendly hydrogen power!!!

Hydrogen is a gas lighter than air, exists in a huge amount on our planet in the form of water (H2O). During the combustion of hydrogen in air, it will release a great amount of energy together with and only water. Because of this, "some environmentalists believe a hydrogen economy could greatly reduce the emission of carbon dioxide and therefore play a major role in tackling global warming." [1]

I wish this day will come sooner! How I wish to breathe fresh air even when I am standing behind a heavy trunk or dirty lorry!

If hydrogen is so great, then why haven't we been using it all along? The reason lies in the practicality of the production:

ELECTROLYSIS OF WATER 

"Hydrogen must first be broken out from its compound form with oxygen as water (H2O) using electrolysis or gathered by other means as it does not naturally occur by itself. Hydrogen cannot be mined or drilled as with fossil fuels and requires more energy input to produce it than is generated with its combustion." [2]

In simple words, it means that it will take more energy producing hydrogen than the energy hydrogen will produce later. Metaphorically I put it, it is like spending $100 to make $90. (Do you know why this is the case?)

So it was both practically and economically unbeneficial, but not anymore!!!

From Discovery News, "The project, spearheaded by NASA's Glenn Research Center in Cleveland, Ohio, would use power produced by a windmill and solar energy cells to run a machine called an electrolyzer that splits water molecules into its base elements of hydrogen and oxygen. The hydrogen, in turn, would be used as fuel for specially-equipped buses."[3]

Don't believe it? Watch it for yourself!!!! Click here!!

And the economical benefits? 

"The idea is that you'd stimulate jobs for the community by folks learning how to build these devices, how to operate them and also what you could use hydrogen for," said Valerie Lyons, a program manger at NASA Glenn. "Maybe people would make forklifts and other small vehicles that run off hydrogen, or convert gasoline-powered cars.

"There's a lot of things that could simulate the economy with different types of jobs spinning off from the hydrogen economy."[4]

Still driving the old dusty money-eating dudes? Think green! Think cheap! Think clean! Say "Aloha!" to the new hydrogen era!!!!!

Citation:

[1][2] http://en.wikipedia.org/wiki/Hydrogen_fuel

[3][4] http://dsc.discovery.com/news/2009/05/06/hydrogen-electrolyzer.html

Resources:

http://dsc.discovery.com/news/2009/05/06/hydrogen-electrolyzer.html

http://dsc.discovery.com/videos/tech-is-it-future-yet-hydrogen-cars.html

http://dsc.discovery.com/news/2009/05/20/echinoderms-co2.html

http://en.wikipedia.org/wiki/Hydrogen_fuel

Picture resources:

http://img.sparknotes.com/figures/0/02480ae8fc1a41b131a3fdb5a698e9a3/lyticcell.gif

http://pds7.egloos.com/pds/200805/09/81/a0001681_48233259c6f04.jpg

http://www.portaec.net/library/energy/solar_power.jpg

http://www.portaec.net/library/energy/wind_power.jpg

Idioms: Nit-picker

DO YOU NIT-PICK?

Do you know anyone who is picky?

If someone set a higher standard than yours, and you think that is asking too much, we call them the nit-pickers.


You see the picture on the left? That is a louse (plural "lice"), and nit is the egg from this very tiny little insect, which appears on the body of your pet cats and dogs, or maybe even inside your bed or clothes, etc. Since louse is already so small, its nits are even more microscopic. Thus a nit-picker is a person nobody likes to work with because they are "trying to pick bones inside the eggs" as the Chinese put it.


Examples includes:
1) Monkey

2) Children

3) Parents

4) Old men






picture resources:

http://www.licehunter.org/images/louse_big.jpg

http://tbn2.google.com/images?q=tbn:I5uGAY8V1W7-4M:http://www.insectpod.com/images/20070828_bark_louse_big.jpg

http://farm4.static.flickr.com/3090/2550887565_34241d2cf8.jpg

http://fotosa.ru/stock_photo/Westend61_RF/p_1701296.jpg

http://wwwdelivery.superstock.com/WI/223/1487/PreviewComp/SuperStock_1487R-54927.jpg

http://www.cartoonstock.com/newscartoons/cartoonists/rma/lowres/rman5276l.jpg

Vocabulary: News Article "Tough questions at rumpus school"

Today, I read an article on the Standard and I think that it was very well written as the author has used a variety of vocabulary which definitely suits my taste.


Of course, there are many many articles you can read in a day and there might be a whole lot of words you need to learn, but I myself enjoyed the moments of checking dictionary for meanings,usage and IPA because,

"One word learnt is one word MORE in your head, LESS in your guess." -- Locky

And after checking each word, don't forget to try to relate the words to something to help you remember them. Such as relating the words to the spelling of the word (if possible) or a story you can think of.






Here is the entire article:

Tough questions at rumpus school

NickkitaLau

Friday, May 29, 2009

Education chief Michael Suen Ming- yeung has been rapped on the knuckles for remarks about the troubled Pegasus Philip Wong Kin Hang Christian Primary and Junior Secondary School.

According to him, the school in Yau Tong is not equipped to conduct both primary and secondary classes.

Vexed by that view, Hong Kong Education Policy Concern Organization chairman Mervyn Cheung Man-ping said yesterday the Education Bureau should not therefore have approved an application to run junior secondary classes.

This came after officers from the Independent Commission Against Corruption raided the school late on Wednesday. They took away boxes said to contain evidence.

Suen said the bureau did not ask the graft busters to get involved. However, the bureau has appointed three people to the school's management committee specifically to look into the accounts.

They start work on Monday to ensure a transition of operating rights to the bureau before July 14 so a new sponsoring body can be in place by September 1.

On facilities, Suen said the premises were designed as a primary school and could not accommodate a secondary school at the same time. Still, remaining junior high students may be able to finish the curriculum, he added, and the bureau contacted parents over the past few days to canvass their views ahead of selecting a new sponsoring body. A set of criteria will be announced early next week.

But Cheung wanted Suen to explain why bureaucrats gave approval for primary and junior secondary programs if the premises were inadequate. A decision on a secondary program should be made after consultations with parents and students, Cheung added. He fears a hasty decision will cut interest of potential sponsoring bodies and spur students to go elsewhere.

Board member Ada Wong Ying-kay, meanwhile, claimed that when Carmen Leung Suk-ching was principal she failed to provide documents, which led to incomplete audits. And a parent said Leung admitted at a Parents Teachers Association meeting she was being checked by the ICAC.

The school was named after Ada Wong's father, Philip Wong, and she felt disappointed the ICAC was involved.

She also urged the Pegasus Social Service Christian Organization to stop releasing "inaccurate information."

Vocabulary:

rumpus -- [informal] a lot of noise, especially a loud and confused argument or complaint

to rap sb over/on the knuckles for sth -- to speak officially to someone, in a severe or angry way, because you disapprove of their actions

to be equipped -- to be given someone the skills they need to do a particular thing

vexed by -- Made Angry, annoyed or upset by someone

raided -- (of the police) entered a place suddenly in order to find someone or something

be said to -- [+ to be + noun or adjective] When something or someone is said to be a particular thing, that is what people think or believe about them

graft busters -- officials who fight the act of obtaining money or advantage through the dishonest use of political power and influence

be in place of sth/sb -- instead of sth or sb

to canvass -- to try to discover information or opinions by asking people

inadequate -- not good enough

hasty -- describes something that is done in a hurry, sometimes without the necessary care or consideration

to spur sb to do sth--to encourage someone to do something or make it happen faster

to urge sb to do sth-- to strongly advise or try to persuade someone to do a particular thing

Picture source:
http://www.thestandard.com.hk/newsimage/20090529/5_2009052821053900193SUEN.jpg



Resources:
http://www.thestandard.com.hk/news_detail.asp?we_cat=11&art_id=82768&sid=24029680&con_type=1&d_str=20090529&fc=8