Investment/Trends

When Penalties are Preferable

"Nearly five in eight Americans polled by ABC News and The Washington Post say they 'lack the information needed to understand the changes that will take effect as the Affordable Care Act is implemented.' No surprise with a bill that stretched to 906 pages — plus 20,000 more of associated regulations. Besides, there’s nothing you can actually do in reaction to these stories. You’re a helpless spectator. Which is why we find the YouTube video much more intriguing… 'What we’re trying to communicate is, ‘No, you’re actually not required to buy health insurance,’' says Evan Feinberg. 'You might have to pay a fine, but that’s going to be cheaper for you and better for you.'" Continue reading →

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Complying With U.S. Tax Evasion Law Is Vexing Foreign Banks

"Financial institutions, trade groups, scholars and members of Congress have raised an array of concerns, starting with the cost of creating the complex computer systems needed to track Americans’ accounts. In addition, tax havens like China, Panama and Russia have yet to sign on. And American banks are unhappy about a Treasury Department pledge to foreign banks, not part of the original law, to require American financial institutions to share data with other countries about foreign investors who have accounts in the United States." Continue reading →

Continue ReadingComplying With U.S. Tax Evasion Law Is Vexing Foreign Banks

Mortgage slowdown forces new layoffs at Wells Fargo

"The ax is falling again at Wells Fargo's mortgage origination unit, as refinancing activity continues to slow. The bank on Wednesday sent 60-day notices of displacement to 1,800 employees across the country, citing a slowdown in activity throughout 2012 and early 2013. It's unclear how much Wells Fargo—the nation's largest mortgage provider—needs to rightsize to adjust to the new normal. The bank has already cut 3,000 jobs in origination and servicing, but activity has been bouncing around. Other Wall Street banks are making similar moves, as a sharp rise in rates has kept consumers from taking out or refinancing mortgages. JPMorgan laid off more than 2,000 employees in early August." Continue reading →

Continue ReadingMortgage slowdown forces new layoffs at Wells Fargo

Home-Loan Drop Pushes Fed Away From Mortgage Bond Taper

"A surge in mortgage rates to two-year highs has undercut borrowing, pushing down refinancing by more than 70 percent since last September. Wells Fargo & Co. (WFC) said this month originations may fall 29 percent this quarter, while JPMorgan Chase & Co. said volumes may plunge 40 percent in the second half compared with the first six months of the year. Builders began work on fewer U.S. homes than projected in August and applications for future work declined more than forecast, the Commerce Department said today. Housing starts rose 0.9 percent to a 891,000 annual rate, following the prior month’s 883,000 pace that was weaker than previously estimated." Continue reading →

Continue ReadingHome-Loan Drop Pushes Fed Away From Mortgage Bond Taper

Grand Theft Auto V sales zoom past $1 billion mark in 3 days

"Grand Theft Auto V has crossed the $1 billion sales mark after three days in stores, a rate faster than any other video game, film or other entertainment product has ever managed, its creator Take Two Interactive Inc said on Friday. The latest installment of GTA, a cultural phenomenon that has sparked a national debate on adult content and violence, received strong reviews and racked up $800 million in first-day sales alone. That marked a launch-day record for the Grand Theft Auto franchise which is Take Two's most lucrative and allows players to cruise around a make-believe gameworld based on real-life locations such as Los Angeles." Continue reading →

Continue ReadingGrand Theft Auto V sales zoom past $1 billion mark in 3 days

Google teams with Apple chair to launch ‘health and well-being’ company

"Google announced Wednesday it was launching a new company focused on health and well-being, and hinted at cooperation with longtime rival Apple in the venture. A Google statement said the company called Calico 'will focus on health and well-being, in particular the challenge of aging and associated diseases.' Arthur Levinson, chairman and former chief executive of the biotech firm Genentech and chairman of Apple, will be Calico’s chief executive and a founding investor. Time magazine, which interviewed Page ahead of the announcement, said the details of the project were not yet clear but that it is likely to use its data-processing to shed new light on age-related maladies." Continue reading →

Continue ReadingGoogle teams with Apple chair to launch ‘health and well-being’ company

The Next Step in Killing Cancer

"The protein that Olson is describing is called chlorotoxin. It’s a major component of the venom injected from the sting of a scorpion’s tail. Once it’s infused into the bloodstream, the venom naturally travels to the brain and attaches itself to chloride channels that lay on the surface of cells. And as it turns out, chlorotoxin actually prefers the chloride channels on tumor cells above all other tissues. Upon realizing this fascinating discovery, the Blaze Bioscience team re-engineered chlorotoxin. They tagged it with molecules that literally act like a flashlight for doctors. It’s a fluorescent dye that illuminates the outline of the tumor in its entirety, making it easier for brain surgeons to operate without error." Continue reading →

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4-D Printing: The Solution to a $350 Billion Problem?

"Tibbits is working more than a tad bit with a Boston company called Geosyntec to develop a new paradigm in water infrastructure. Rather than use fixed-capacity water pipes, they’re experimenting with nanoscale adaptive materials built from the environment. 4-D printing with adaptive pipes to correct our water piping reminds me a lot of how human veins expand and contract to accommodate blood flow. The 4-D printing solution is similar. 'Imagine if water pipes could expand or contract to change capacity or change flow rate,' Tibbits said in a recent TED talk. 'Or maybe [they] undulate like peristaltics to move the water themselves,' he said." Continue reading →

Continue Reading4-D Printing: The Solution to a $350 Billion Problem?

Richard’s $2 Billion Dollar (Severed) Hand

"Richard Van As, a South African carpenter, lost four of his fingers to a circular saw, reports The Associated Press. An artificial limb — one that could detect the muscles’ electrical impulses and move — would have cost him tens of thousands of dollars. Sadly, he was unable to afford that. Soon after, Van As teamed with an Ivan Owen from Seattle. 10,000 miles separated Van As in Johannesburg from Owen. But with the help of two 3-D printers donated by MakerBot, the two created their own “Robohand” prosthetic. They were able to cut the prototyping time from a week to just 20 minutes. And the cost? Just $500… more than a 95% discount." Continue reading →

Continue ReadingRichard’s $2 Billion Dollar (Severed) Hand

Austrian Theory Explains and Exposes Booms and Bubbles

"The problem of the business cycle arises when the loan rate of interest diverges from the natural rate of interest. While this divergence could happen in a free banking system, the major divergence occurs under central bank regimes when large reductions of the interest rate are executed by injecting money into the banking system over a long period of time. A larger volume of loans is thereby made possible. The lower interest rate increases investment and consumption and reduces savings. These changes in the economy provide the conditions for a boom in the economy. If the new funds are funneled into a specific sector of the economy, a bubble could result." Continue reading →

Continue ReadingAustrian Theory Explains and Exposes Booms and Bubbles