When the financial system collapsed, the unemployment rate went up so did foreclosures. Subprime loans charge higher interest rates because it is expected that subprime loans will have a higher foreclosure rate. The fundamental problem was that housing prices were a bubble and were vastly overvalued. Foreclosure rates over the last 3 years are a result of the collapse not the cause (what was the foreclosure rate preceding the collapse compared to after?). Loans lost their securitized value. Once the ridiculous buying pace of real estate reached a peak the drop in value was inevitable. Not much different that the tulip bubble. Once the highest priced tulip couldn't be sold everyone started selling. Price dropped and the financial industry crashed. Of course when we talk about subprime loans people tend to think of low income families buying homes they can't afford. Problem is we often miss the 'investors' that used subprime lending to over leverage themselves and bought multiple houses to flip on the promise of ever rising housing prices. That created artificial demand that added to the inflated prices which was great while it was going up. It is complex but by and large everyone got greedy and ran up the price until the market became unsustainable.
Don't forget to block Facebook on your computer. Since every website that has a Facebook Like button or other widget loads that widget from Facebook. Facebook still knows many of the sites visited from your IP. Of course the same is true for Google widgets/ads and pretty much any widget.
It wasn't really even about people not being able to pay for their homes. It was about houses being vastly overpriced. So a $200,000 secured loan for a house was really secured with a $100,000 house when prices corrected. When banks saw their loans losing security they panicked. All the fake equity that were on the books evaporated and a financial crisis ensued.
However, oil is even more valuable as the base material for things such as plastics. Burning it is a true sin and our descendants are likely going to hate us for it.
It is very likely I may be wrong but I thought that when oil is refined a certain amount can be turned into gasoline, a certain amount into diesel, a certain amount into plastic and so on. I didn't think you could use the hydrocarbons that make up gasoline to make plastic and vise versa.
Now this one really does require a citation. And oil doesn't just have to be pumped in the traditional manner.
Unfortunately the assertion that there is x numbers of oil left is based on a number of observations. So where to start.. We can start with the observation that for any given well or field supply/production follows a bell curve. Production increases until it hits a peak and then declines. Advancing technologies gives the bell curve a long tail but peak production is only hit once. If you add the curves for each well it will create a curve for each field. Add each field together and you get a curve for each region. Keep going and you will get a curve for each continent. At some point there will be a curve for the earth as a whole.
Now that's not all of it of course. There are undiscovered reserves. For any given region there is a bell curve for discovery. We discover more and more and then less and less. The discovery curve will tend to peak about 10 (give or take 5 year) before the supply curve. As an example we can look at the continental U.S. In 1956 Hubbert predicted peak oil for the continental in the United States to occur around 1970. He was correct. In the 30 years since continental oil production peaked, oil production has been on a gradual decline. Matching predictions made over 50 years ago. Note, the continental U.S. is just that it does not include Alaska and off shore oil but is an example of how peak production occurs in a given area and follows peak discovery.
Of course we need to know more to make an estimate for peak oil for the world. We need to know how much oil we've already used and how much we know about that is left and how much we don't know about that is left. For the first part we know we've used about 1 trillion barrels of oil so far. For the second part we know a range that geologist use. P10, P50 and P90 number provide 10%, 50%, and 90% probabilities of reserves. We use P90 numbers to denote proven reserves meaning there is a 90% chance that it is how much we have left. According to the oil industry proven reserves are between 1.1 and 1.3 trillion barrels in 2007. Adjusting for the last 4 years and that proven reserves are 90% sure not 100% lets just call it an even 1 trillion.
Ok so 1 trillion used and 1 trillion in proven reserves but of course there's the undiscovered oil too. Now we have to rely on speculation but we can take some things into consideration. For instance we have seen peak discovery in some areas so we can extrapolate what is left to be discovered by looking at the curves. We can further argue that larger fields are easier to find than smaller ones in much the same way we could say there are still undiscovered islands in the ocean but it is unlikely there are undiscovered continents. There is a lot of speculation when it comes to estimating what we haven't discovered. Some based on optimistic numbers and some based on pessimistic ones. It ranges from.5 trillion to as much as 2 trillion. Personally I think 2 trillion is wishful thinking as we have been looking for oil for a century now.
But Ok, I'll give 2 trillion barrels of undiscovered oil. So now we can say total oil is around 4 trillion. We've used 1 trillion and have 3 trillion left in proven and undiscovered oil. The world uses ~80 million barrels/day or about 30 billion a year. If demand stays constant (there is no reason to believe it will, everything indicates it will rise) We can safely say we will use 1 trillion barrels in 33 years. So in 33 years we will have used 2 trillion bbls total and have 2 trillion left. This is the optimistic number for peak oil. Now for peak liquid oil (excluding tar sands and such) many estimates for peak liquid oil are put at sometime in the last 3 years. Probably around 2008. That year when gas in the U.S. went over $4/gallon and then dropped under $2 as the economy crashed and demand went down.
I think the Prius gets its best advantage in city driving vs a traditional gasoline car. A gasoline engine runs constantly whether you are at a red light or not and the Prius returns energy from stopping so energy consumption to accelerate is offset a little by returning energy from deceleration.
I think it would be interesting to see the average degrees of separation for each individual. One person might have an average of 9 degrees separation to everyone else while another individual might average 3. Cross that number with standard demographics data and look at any correlations. x being people not on Facebook you could still compare people with 3 + x degrees vs 9 + x degrees.
I agree it's not generally about the price of antibiotics. It's a few things. The price of the doctor visit to get the prescription can play a part as can the convenience. I think most people start to feel better and just forget towards the end to finish. When you feel bad it is at the forefront of your mind to take your medicine.
It's about a culture of misinformation that encourages people to take as few drugs as possible.
I'm not sure about this though. I agree there is a lot misinformation and lack of information but I don't know that there is a culture that encourages people to take fewer drugs. The U.S. takes more prescription drugs per capita than any other country if I remember correctly. Subsets of U.S. culture might vary but on a national level (through media) I certainly see more encouragement (commercial) to take drugs than I see to discourage (PSA) it.
I phrased that poorly. There are reasons some people should have antibiotics handy. This is different than not finishing a prescribed course. There are also complications that could occur that would necessitate ending a treatment early. I really should just say people shouldn't cut their course short when they feel better.
I disagree. Antibiotics aren't a recurring prescription. When you get the script it is for the full course. So you have to pay for the complete treatment or get nothing. There is no in-between.
He's saying people take home their bottle of antibiotics consisting of a full course. They start feeling better after a few days then stick the remaining antibiotics in their medicine cabinet for the next time they get sick. Thus they do not complete the full course. Start looking in people's medicine cabinets. You will find half used prescriptions of antibiotics in many of them.
Agreed. FWIW I would support a mandatory line item for phones and service. I might even say this should be true of all industries. I would also be for more education with regards to finances. Plenty of math is taught abstractly that could be related to finances; personal and macro.
That is where the cell phone companies screwed up, by subsidizing the phones.
They subsidize it only in the sense that you have to sign a two year contract and pay for the phone with a higher cost data plan. It's similar to how a car salesman will want to negotiate a monthly payment instead of the price of the car. Getting someone to come up from $300 to $400 on a car payment is easier than getting someone to come up $6000 on the price. It's much easier to get someone to give you an extra $25 on their cell phone bill than it is to get $600 for a phone.
It's pretty clear it should be some sort of a crime,
That's not clear at all. Do you think landlords should be able to charge their tenants with criminal acts for being late on rent? Typically speaking most contracts can be broken without committing a criminal act. It's a terrible idea to enforce contracts or TOS through criminal law.
Comment: Re:Why can't the US just give them a bad Concorde? (Score 2, Funny)
by MichaelKristopeit352 on Monday October 31, @11:24AM (#37897112) Attached to: China Builds 1-Petaflop Homegrown Supercomputer
What happened? +2 Funny. Are you here to amuse us now. let me understand this cause, ya know maybe it's me, I'm a little fucked up maybe, but you're funny how, I mean funny like you're a clown, you amuse me? You make me laugh, You're here to fuckin' amuse me? What do you mean funny, funny how? How are you funny?
Slashdot Mirror
Andrew Grove was born in Hungary.
Unless you pronounce URL like 'Earl' it is a URL. Similarly unless you pronounce FQDN like 'Fuck Done' it is an FQDN.
When the financial system collapsed, the unemployment rate went up so did foreclosures. Subprime loans charge higher interest rates because it is expected that subprime loans will have a higher foreclosure rate. The fundamental problem was that housing prices were a bubble and were vastly overvalued. Foreclosure rates over the last 3 years are a result of the collapse not the cause (what was the foreclosure rate preceding the collapse compared to after?). Loans lost their securitized value. Once the ridiculous buying pace of real estate reached a peak the drop in value was inevitable. Not much different that the tulip bubble. Once the highest priced tulip couldn't be sold everyone started selling. Price dropped and the financial industry crashed. Of course when we talk about subprime loans people tend to think of low income families buying homes they can't afford. Problem is we often miss the 'investors' that used subprime lending to over leverage themselves and bought multiple houses to flip on the promise of ever rising housing prices. That created artificial demand that added to the inflated prices which was great while it was going up. It is complex but by and large everyone got greedy and ran up the price until the market became unsustainable.
Don't forget to block Facebook on your computer. Since every website that has a Facebook Like button or other widget loads that widget from Facebook. Facebook still knows many of the sites visited from your IP. Of course the same is true for Google widgets/ads and pretty much any widget.
It wasn't really even about people not being able to pay for their homes. It was about houses being vastly overpriced. So a $200,000 secured loan for a house was really secured with a $100,000 house when prices corrected. When banks saw their loans losing security they panicked. All the fake equity that were on the books evaporated and a financial crisis ensued.
The iPhone 4s has a total diagonal of a little over 5 inches. Depending on how it's done a 4 inch screen does not necessarily mean a bigger phone.
However, oil is even more valuable as the base material for things such as plastics. Burning it is a true sin and our descendants are likely going to hate us for it.
It is very likely I may be wrong but I thought that when oil is refined a certain amount can be turned into gasoline, a certain amount into diesel, a certain amount into plastic and so on. I didn't think you could use the hydrocarbons that make up gasoline to make plastic and vise versa.
Let's put it simple: NO! The day where not everybody gets what they order for hasn't come YET
...
(but yes, it's getting more and more expensive
Only one of these statements can be true.
Now this one really does require a citation. And oil doesn't just have to be pumped in the traditional manner.
Unfortunately the assertion that there is x numbers of oil left is based on a number of observations. So where to start.. We can start with the observation that for any given well or field supply/production follows a bell curve. Production increases until it hits a peak and then declines. Advancing technologies gives the bell curve a long tail but peak production is only hit once. If you add the curves for each well it will create a curve for each field. Add each field together and you get a curve for each region. Keep going and you will get a curve for each continent. At some point there will be a curve for the earth as a whole.
.5 trillion to as much as 2 trillion. Personally I think 2 trillion is wishful thinking as we have been looking for oil for a century now.
Now that's not all of it of course. There are undiscovered reserves. For any given region there is a bell curve for discovery. We discover more and more and then less and less. The discovery curve will tend to peak about 10 (give or take 5 year) before the supply curve. As an example we can look at the continental U.S. In 1956 Hubbert predicted peak oil for the continental in the United States to occur around 1970. He was correct. In the 30 years since continental oil production peaked, oil production has been on a gradual decline. Matching predictions made over 50 years ago. Note, the continental U.S. is just that it does not include Alaska and off shore oil but is an example of how peak production occurs in a given area and follows peak discovery.
Of course we need to know more to make an estimate for peak oil for the world. We need to know how much oil we've already used and how much we know about that is left and how much we don't know about that is left. For the first part we know we've used about 1 trillion barrels of oil so far. For the second part we know a range that geologist use. P10, P50 and P90 number provide 10%, 50%, and 90% probabilities of reserves. We use P90 numbers to denote proven reserves meaning there is a 90% chance that it is how much we have left. According to the oil industry proven reserves are between 1.1 and 1.3 trillion barrels in 2007. Adjusting for the last 4 years and that proven reserves are 90% sure not 100% lets just call it an even 1 trillion.
Ok so 1 trillion used and 1 trillion in proven reserves but of course there's the undiscovered oil too. Now we have to rely on speculation but we can take some things into consideration. For instance we have seen peak discovery in some areas so we can extrapolate what is left to be discovered by looking at the curves. We can further argue that larger fields are easier to find than smaller ones in much the same way we could say there are still undiscovered islands in the ocean but it is unlikely there are undiscovered continents. There is a lot of speculation when it comes to estimating what we haven't discovered. Some based on optimistic numbers and some based on pessimistic ones. It ranges from
But Ok, I'll give 2 trillion barrels of undiscovered oil. So now we can say total oil is around 4 trillion. We've used 1 trillion and have 3 trillion left in proven and undiscovered oil. The world uses ~80 million barrels/day or about 30 billion a year. If demand stays constant (there is no reason to believe it will, everything indicates it will rise) We can safely say we will use 1 trillion barrels in 33 years. So in 33 years we will have used 2 trillion bbls total and have 2 trillion left. This is the optimistic number for peak oil. Now for peak liquid oil (excluding tar sands and such) many estimates for peak liquid oil are put at sometime in the last 3 years. Probably around 2008. That year when gas in the U.S. went over $4/gallon and then dropped under $2 as the economy crashed and demand went down.
When supply peaks demand will be constr
I think the Prius gets its best advantage in city driving vs a traditional gasoline car. A gasoline engine runs constantly whether you are at a red light or not and the Prius returns energy from stopping so energy consumption to accelerate is offset a little by returning energy from deceleration.
I think it would be interesting to see the average degrees of separation for each individual. One person might have an average of 9 degrees separation to everyone else while another individual might average 3. Cross that number with standard demographics data and look at any correlations. x being people not on Facebook you could still compare people with 3 + x degrees vs 9 + x degrees.
it is 4.74 + 1; think about it...
That's exactly what the voice in my head said.
It has never been said that raising children should be easy.
Raising children should be easy. There I said it.
It's about a culture of misinformation that encourages people to take as few drugs as possible.
I'm not sure about this though. I agree there is a lot misinformation and lack of information but I don't know that there is a culture that encourages people to take fewer drugs. The U.S. takes more prescription drugs per capita than any other country if I remember correctly. Subsets of U.S. culture might vary but on a national level (through media) I certainly see more encouragement (commercial) to take drugs than I see to discourage (PSA) it.
I phrased that poorly. There are reasons some people should have antibiotics handy. This is different than not finishing a prescribed course. There are also complications that could occur that would necessitate ending a treatment early. I really should just say people shouldn't cut their course short when they feel better.
I agree it's silly. I'm not sure there is ever a valid reason for having extra antibiotics though.
I disagree. Antibiotics aren't a recurring prescription. When you get the script it is for the full course. So you have to pay for the complete treatment or get nothing. There is no in-between.
He's saying people take home their bottle of antibiotics consisting of a full course. They start feeling better after a few days then stick the remaining antibiotics in their medicine cabinet for the next time they get sick. Thus they do not complete the full course. Start looking in people's medicine cabinets. You will find half used prescriptions of antibiotics in many of them.
I guess that's ok as long as it's not mine.
It's basically a big vibrator you put under your side of the bed.
Like the one on her side?
Agreed. FWIW I would support a mandatory line item for phones and service. I might even say this should be true of all industries. I would also be for more education with regards to finances. Plenty of math is taught abstractly that could be related to finances; personal and macro.
That is where the cell phone companies screwed up, by subsidizing the phones.
They subsidize it only in the sense that you have to sign a two year contract and pay for the phone with a higher cost data plan. It's similar to how a car salesman will want to negotiate a monthly payment instead of the price of the car. Getting someone to come up from $300 to $400 on a car payment is easier than getting someone to come up $6000 on the price. It's much easier to get someone to give you an extra $25 on their cell phone bill than it is to get $600 for a phone.
Microsoft peaked earlier. Overall growth from the beginning appears to be in Microsoft's favor.
It's pretty clear it should be some sort of a crime,
That's not clear at all. Do you think landlords should be able to charge their tenants with criminal acts for being late on rent? Typically speaking most contracts can be broken without committing a criminal act. It's a terrible idea to enforce contracts or TOS through criminal law.
Vegans can be kind of fussy, though. Apparently serving something that is only 95% vegan is considered unacceptable.
To be fair, omnivores can be fussy too when it comes to side dishes like spinach and broccoli or something like tomatoes on a burger.
Comment: Re:Why can't the US just give them a bad Concorde? (Score 2, Funny) by MichaelKristopeit352 on Monday October 31, @11:24AM (#37897112) Attached to: China Builds 1-Petaflop Homegrown Supercomputer
What happened? +2 Funny. Are you here to amuse us now. let me understand this cause, ya know maybe it's me, I'm a little fucked up maybe, but you're funny how, I mean funny like you're a clown, you amuse me? You make me laugh, You're here to fuckin' amuse me? What do you mean funny, funny how? How are you funny?