jm + economy   21

The Airplane Seating Arrangement that Triggers 'Air Rage'
The presence of a first-class cabin, and having to walk through it to get to economy, is a triggering factor for "air rage" incidents:

As lead researcher Katherine DeCelles explained to Gizmodo, airplanes are like a miniature version of class-based society. “It’s a small world of the greater society that we live in, though one that’s greatly concentrated,” she said. Traveling by plane is stressful enough, but DeCelles believes that seating inequality on airplanes often serves as “the straw that breaks the camel’s back,” and that air rage can be partly explained and understood through the lens of social inequality.
air-rage  first-class  flying  air  travel  anger  economy 
may 2016 by jm
Senior Anglo bondholders revealed in department note
In case you were wondering who Ireland's economy was wiped out for:
Among the major holders were a Dutch pension fund, ABP; another Dutch fund, PGGM; LGPI in Finland, which manages local government pensions; and a Swiss public entities pension. A number of major asset managers were also named, including JP Morgan in London; DeKA and ADIG, two German investment managers; and Robeco from the Netherlands. Big insurance companies, including Munich Re, Llmarinen from Finland and German giant Axa were also named, along with big banks such as BNP, SocGen, ING and Deutsche.
bondholders  anglo  economy  ireland  politics  eu  senior-bondholders 
november 2015 by jm
Why Airlines Want to Make You Suffer
'The fee [airline pricing] model comes with systematic costs that are not immediately obvious. Here’s the thing: in order for fees to work, there needs be something worth paying to avoid. That necessitates, at some level, a strategy that can be described as “calculated misery.” Basic service, without fees, must be sufficiently degraded in order to make people want to pay to escape it. And that’s where the suffering begins.'
travel  airlines  pricing  fees  economy  consumer  jetblue 
december 2014 by jm
Uber Optics
That the company's consistent, nearly frozen posture of disingenuous smirking means that the most perceptible "Uber problem" is almost always how it frames things, rather than how it actually operates, whether it's systematically sabotaging of competitors or using its quarter-billion-dollar war chest to relentlessly cut fares and driver pay to unsustainable levels in order to undercut existing transit systems, is remarkable in its way, though. If your company's trying to conquer the world, in the end, being a dick might be the best PR strategy of all.
uber  dicks  dystopia  grim-meathook-future  teachers  california  free-markets  optics  pr  economy  america 
october 2014 by jm
From derelict to delightful: Art Tunnel Smithfield
I do like the Art Tunnel. Smithfield is a great demo of reclaiming Dublin's increasing dereliction and I hope the DCC allow this to continue
smithfield  d7  dublin  ireland  art  art-tunnel  reclamation  derelict  economy  dcc 
august 2013 by jm
Soviets map America
An amazing Soviet map of the US economy from 1979. Wonderful piece of cold war memorabilia
cold-war  ussr  usa  mapping  maps  soviet  economy  memorabilia 
august 2013 by jm
Austerity policies founded on Excel typo
You've probably heard that countries with a high debt:GDP ratio suffer from slow economic growth. The specific number 90 percent has been invoked frequently. That's all thanks to a study conducted by Carmen Reinhardt and Kenneth Rogoff for their book This Time It's Different. But the results have been difficult for other researchers to replicate. Now three scholars at the University of Massachusetts have done so in "Does High Public Debt Consistently Stifle Economic Growth? A Critique of Reinhart and Rogoff" and they find that the Reinhart/Rogoff result is based on opportunistic exclusion of Commonwealth data in the late-1940s, a debatable premise about how to weight the data, and most of all a sloppy Excel coding error.

Read Mike Konczal for the whole rundown, but I'll just focus on the spreadsheet part. At one point they set cell L51 equal to AVERAGE(L30:L44) when the correct procuedure was AVERAGE(L30:L49). By typing wrong, they accidentally left Denmark, Canada, Belgium, Austria, and Australia out of the average. When you run the math correctly "the average real GDP growth rate for countries carrying a public debt-to-GDP ratio of over 90 percent is actually 2.2 percent, not -0.1 percent."
austerity  politics  excel  coding  errors  bugs  spreadsheets  economics  economy 
april 2013 by jm
Former IMF chief of mission to Ireland says not burning the bondholders was "a mistake"
Former IMF chief of mission to Ireland, Ashoka Mody, above left with Ajai Chopra in 2010. Melancholy of eye and large of loafer, Ashoka was involved in negotiating Ireland’s EU/IMF bailout. [...] This morning Ashok gave an interview to Gavin Jennings on Morning Ireland, in which he admitted Ireland’s bailout was riddled with mistakes, namely the non-burning of the senior bondholders and the program of austerity.

Jennings: “So, if imposing austerity on Ireland was wrong, or a mistake; if not allowing any burning of bondholders, whether official, sovereign or private was a mistake; you were centrally involved in that program. I know Ajai Chopra was very much the public face of the IMF mission to Ireland. But you were centrally involved in constructing this bailout. How much responsibility do you take for those errors.”

Mody: “Yes, so, obviously, I have to take the responsibility in…but I’m in very good company in taking responsibility in this. There were many parties involved. And my role really was to bring such matters to the attention of people who finally made these decisions.”

bondholders  imf  ireland  economy  default  ajai-chopra  ashoka-mody 
april 2013 by jm
Karl Whelan: Promissory Note “Deal”: Not What Had Been, Em, Promised
'I can only assume that the “assuming this arrangement works out” element of Honohan’s reply to Michael McGrath didn’t actually work out. And the likely reason for this failure was that the ECB insisted, as it appears they had all along, that a €3.1 billion ELA repayment be made, something which required a cash payment.  That this cash has been temporarily sourced from NAMA and then Bank of Ireland doesn’t at all change the fact that this deal is not what had been flagged and does not have nearly the benefits of that deal.' oh ffs
ireland  economy  bailout  ecb  eu  euro  anglo 
march 2012 by jm
Stats from an Irish guy's EV driving
EUR 529.07 over ~4000 miles in his Nissan Leaf; that works out as a yearly savings of EUR 1587.21. not to be sniffed at -- although what's the premium for a Leaf over a standard diesel?
ev  cars  driving  nissan  economy  ireland  fuel  prices 
march 2012 by jm
Michael "Liar's Poker" Lewis on Ireland's economic collapse
PDF of the 15-page Vanity Fair article -- from interviews I've read in advance, this seems pretty good
michael-lewis  vanity-fair  articles  pdf  toread  economy  ireland  disaster  collapse  from delicious
february 2011 by jm
Bondholders safe even if opposition win election - European, Business -
'<br />
In a private phone call this week with hedge funds and other investors from across Europe, the EU team which negotiated Ireland's rescue package, reassured the firms that senior bondholders cannot be burned as part of the €85bn rescue package, even if Fine Gael and Labour seek to reopen the question.'  Argh! this makes me so angry
bondholders  ireland  economy  bailout  scams  from delicious
december 2010 by jm
Eric Cantona's call for a bank run
a French campaign to "bring down the banks" by engineering a massive consumer bank run, tomorrow, Dec 7th. I can see this happening in Ireland if we don't get an election soon
ireland  france  banking  bank-runs  economy  bailout  eric-cantona  from delicious
december 2010 by jm
Here are the Anglo Irish Bank Bondholders | Newswhip
according to Guido Fawkes (who was an ex-bond trader), and seemingly the same list David Norris attempted to read into the Senate record before being ruled out of order.  The vampire squid makes an appearance
vampire-squid  anglo  bondholders  bailout  ireland  economy  from delicious
december 2010 by jm
Bailout will sink Ireland before we can even swim | David McWilliams
'This is not capitalism, it is not European diplomacy; it is a stitch-up.' Adding another voice in favour of default -- starting to look like the only sane option given the crappy ECB deal :(
david-mcwilliams  economy  ireland  bailout  eu  from delicious
december 2010 by jm
Barry Eichengreen on the Irish bailout
'The Irish “program” solves exactly nothing – it simply kicks the can down the road. A public debt that will now top out at around 130 per cent of GDP has not been reduced by a single cent. The interest payments that the Irish sovereign will have to make have not been reduced by a single cent, given the rate of 5.8% on the international loan. After a couple of years, not just interest but also principal is supposed to begin to be repaid. Ireland will be transferring nearly 10 per cent of its national income as reparations to the bondholders, year after painful year. This is not politically sustainable, as anyone who remembers Germany’s own experience with World War I reparations should know. A populist backlash is inevitable.'
ireland  economy  bailout  eu  euro  from delicious
december 2010 by jm
Your Country, Your Call, You’re Doomed
Bock on the predictably-crap biz-waffle results from the YCYC "get Ireland back on track" competition. 'If we don’t take this seriously, we’re doomed to repeat the current economic disaster over and over again, each generation with its own Bertie Ahern, its own Seanie Fitzpatrick, its own Fingers Fingleton, and all the other assorted, integrity-free panhandlers and parasites who have soiled the reputation of this country and sold us down the Swanee for their own, ignorant, self-serving enrichment. Forget about Eamon Ryan’s smart economy. Let’s put all our effort into creating the Honest Economy.'
ycyc  waffle  business  ireland  vision-lock  integrity  bock-the-robber  economy  from delicious
september 2010 by jm
Excellent animated treemap dataviz
"How the Giants of Finance Shrank, Then Grew, Under The Financial Crisis". but the data is less interesting than the excellent dataviz technique used to display it
data  dataviz  visualization  economy  animation  nyt  infographic  infographics  treemap  design  flash  banking  nytimes  bailout  from delicious
september 2009 by jm
The Irish Economy blog
features mainly posts from NAMA-sceptic economist Karl Whelan
economy  karl-whelan  ireland  nama  politics  property  banking 
august 2009 by jm
UCD Economist Karl Whelan pours cold water on the Irish Government's NAMA plans
'What we now know is that the banks have been actively working to keep development properties off the market, so that their true values are kept out of the public domain. However, to work through our current problems, these property assets are going to have to be dealt with – either sold at a reasonable price or else demolished or returned to agricultural usage.' oh dear
nama  ireland  economy  banking  property  liam-carroll  zoe  accbank  karl-whelan 
august 2009 by jm

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