Saturday, November 14, 2015
Billionaire
Anyway, in the meantime I'm playing with increasing obsessiveness this marvelous little mobile game called "Billionaire," which requires the player to trade off risk, labor, and time for return in fairly intricate ways that fairly in my mind mimic real economic decision-making. Time enables one to generate income from a variety of investments, but there is little compounding effect from any one investment: upgrades yield only marginal improvements to return, pretty much like real investments in mature industries. Risk is represented as legal risk: the more criminal an investment option in the game, the higher its risk. A high risk profile pretty much ensures that one will spend most of one's time in prison, not able to do anything to generate additional income (though it appears one's investments continue to accumulate in the meantime); and there is an upper limit to the amount of risk one can take on, in absolute terms, so ultimately investments have to be allocated. Risk can be mitigated by contributing to philanthropic "social" investments with negative risk profiles. Labor allows one to accelerate, by repeated finger taps that would resonate with any animal psychologist, the building of either money-making or philanthropic investments in order to maximize the value of one's portfolio. The velocities of the game are two: the accumulation of cash, always slow relative to one's total wealth or ability to invest in new things; and one's personal attention to the game, making sure that not too many investments "max out" and stop accumulating, and rebalancing based on the aforementioned considerations. It's a lot like managing real money, although there's absolutely nothing to spend it on but more investments...
Friday, November 6, 2015
Feast of All Saints (Saint Paul)
We started the tour with the work above, Lorenzo di Niccolo's fourteenth century image of Saint Paul holding sword and book. The web image does no justice at all to the luminosity of the red, orange and gold of the painting, which could have been painted yesterday rather than six hundred years ago (and I don't know the extent of recent restoration, so some of that luminosity might be a result of that rather than sheer survival). Both the coloring and the intensity of Saint Paul's face and gaze call the viewer with a kind of personal reach quite different from neighboring paintings of the Madonna or Christ. I asked a question of the group, something to the effect of "What does this painting convey about sainthood?" The answer of a young man matched mine: the saint is looking at me, reaching out to me, attesting to his humanity. The paintings of saints in the collection, even in this semi-medieval period, are all portraits of a sort, meant to imagine human beings with certain capabilities or meanings, but to really imagine them, to identify them as real individuals at the same time that they are categories or types or characters.
Saturday, February 21, 2015
Startups
Wednesday, February 11, 2015
I don't see Greece going anywhere good...
But Greece isn't willing to take the actions demanded of it to enable further external lending from the eurozone.
Further lending by the eurozone, while it would improve conditions for the Greek public which is clearly hurting so badly it'll vote for anything, won't do much of anything to make Greece better able to finance itself later (through real economic growth or real reduction in corruption).
Ergo, the eurozone shouldn't lend to Greece unless Greece does take the actions required of it.
If the eurozone doesn't lend to Greece, no one else will (look demonocracy's graphic of Greek debt over the past few years for a truly sobering view).
If the Greek government has no other sources of funding, it must either default on its promises to the population, or confiscate wealth internally (and this follows logically even if somehow Greece were to continue putatively to be a member of the eurozone).
If Greece leaves the eurozone, the Greek government will be required to confiscate wealth in the form of bank capital simply to make a conversion back to the drachma possible, in addition to any confiscations required to keep their dreamy promises to their voters.
Now I understand how communist and socialist governments wind up where they do, in complete economic dead ends, even if they don't want to (and I don't think most of them do want to).
Tuesday, February 10, 2015
I got up this morning
Sunday, January 27, 2013
Bendito Machine
License to Sample, Sample as License
The style of animation references the work of Lotte Reiniger and her descendents, and going further back, Javanese shadow puppetry. This gives the animators license for a degree of "Orientalism" they might not get away with in a less clearly referential style.
The Image Barrage
There is real beauty in the video's collage of lightning fast throwaway television clips, musically syncopated and ornately choreographed. The parabolic storyline is far more primitive, or maybe I should say anachronistic, than the buildup of the images themselves, which proclaim that this way of seeing the detritus of imagery offers a line to the future.
The Cargo Cult of the Thumbnail
Why so? Because it's all been miniaturized, as in some medieval illuminated manuscript, but suitable for absorption via Iphone, to state immaterially that this is how we absorb the art of information now, it's all within the range of perception and conception now (after a couple of decades of absorbing this kind of pace via the work of makers like Martha Colburn). Why not just roll with the punches? It hurts so good.
#edcmooc
Friday, October 22, 2010
I'll be voting for Libby Schaaf
Thursday, October 21, 2010
Confidence Game
Thanks so much for writing! I'm glad you enjoyed the book.
I found your comments very insightful. Looking back it does almost seem that some universal decision was made to spread money around the economy through the "corruption of credit." Definitely a very damaging strategy!
All the best,
Christine
Wednesday, October 20, 2010
Whole Earth Discipline
Tuesday, October 19, 2010
The Age of Wonder
Monday, October 18, 2010
The Good Man Jesus and the Scoundrel Christ
Sunday, October 17, 2010
The Possessed
Saturday, October 16, 2010
The Big Short
Wednesday, October 13, 2010
I'll be voting for Jean Quan
Sunday, October 3, 2010
I'll be voting for Jerry Brown
Monday, August 2, 2010
Against the Fall of Night
Sunday, August 1, 2010
Back from the greatest camp ever
I spent afternoons at camp engrossed in a book called The Greatest Trade Ever, about John Paulson and his short-trading of credit derivative swaps against collateralized debt obligations during the crash of 2007-2008. The author, Gregory Zuckerman, writes for the Wall Street Journal and is an excellent story-teller, to the point of drawing out the action perhaps more than needed to be done to make a book of adequate length. The main points of "suspense" in the book, given that we as readers already knew that the protagonists' biggest uncertainty (whether there'd be a crash) had been resolved by ensuing events known to all, was whether they'd figure out how to make money off of their analysis and expectations. The three elements that needed to conjoin for that to happen were the design of an instrument (the product that would allow investors to profit if housing crashed), finding lots of counterparties (which turned out to be banks who wanted to maintain the apparent value of their investment portfolios on their books), and timing (not getting in too early, but getting in earlier than others). All in all, a book to restore my faith in markets in the face of their most egregious failures,
Sunday, July 25, 2010
The Rational Optimist
Saturday, July 10, 2010
Slayer of Gods
Friday, July 9, 2010
The Soros Lectures
Saturday, March 6, 2010
Friday, October 2, 2009
The Interrogative Mood
Monday, September 28, 2009
Decision making under uncertainty
Although I made my decision to go to
I had been taking classes at the local community college in
Thursday, September 10, 2009
John Prine
The evening’s dinner offered me a model of Johnstonian conviviality: food and conversation around common tables, then an extended after-dinner sitting around listening to guys playing their guitars. They were singing what I would later learn to John Prine songs. That the songs were ones I’d not heard before gave them a power over me they’d certainly not have had otherwise: for all I could tell, the guys performing, who had the outdoors look, moustaches and denim jackets, and had girls hanging by their sides, were singing their own songs. Psychologically, if not at the level of common sense, that’s how I must have interpreted the performance.
Wednesday, September 9, 2009
Encouragement
What I remember from my visit to
Thursday, August 6, 2009
Of Prodigies and Pseudos
However much I might doubt the value of the SAT test, there seemed no other way for me to demonstrate my intelligence, either its current extant or its aptitudes. Thus I found myself in the fortunate position of being a National Merit scholar, with a scholarship that itself represented more money than I’d ever seen in one place, and at the same time expressing my interest in schools that offered radical critiques of the conventional educational models. To put it bluntly, I presented myself to Johnston as a young prodigy, just as I had done all through junior high and high school, ever since learning the fantastic advantages of being just a year ahead of all my classmates in math class, back in the seventh grade.
Sunday, July 26, 2009
The intermediate range
There is an intermediate range between the child who is perceived to have no special talent, and the child whose talent is such that it must be brought to the attention of a wider public. In that range I found myself, full of potential in my own eyes and in the eyes of some of the adults responsible for getting me through high school. No extraordinary efforts had been required of me. I knew no foreign languages, played no instruments, had not gone beyond calculus, had never written anything publication-worthy. But the multiple-choice game of the SAT test (actually the PSAT, and then the SAT) opened the door to higher education to me in a way no positive effort did or would have done: by virtue of my percentile ranking (which depended, obviously, on the population of willing test-takers I was one member of) I became a "National Merit Scholar." The cash award associated with that quasi-achievement was on the order of a thousand dollars, but I discovered in the process of applying for financial aid at Johnston (my parents having no more than a few hundred dollars saved for the education of any of their six children) the pleasures of "leverage": the thousand dollar scholarship translated into a full board and tuition grant at Johnston for my first year there, a multiplier of about five on the original award. The door was opened for me to a kind of experience I'd never imagined as anything but cinema.
Thursday, July 9, 2009
Tutankhamen and the Golden Age of the Pharaohs
Tuesday, July 7, 2009
Radical influences
I first visited