Archive for 2014

NEW WAYS OF MEASURING AGING. “Hand-grip strength is an amazingly good predictor of future rates of mortality and morbidity, or sickness. It’s been measured for individuals in surveys across the world. We now have comparable data on about 50,000 people from the U.S., many European countries, Japan, South Korea, China. A substantial body of research suggests that this can be used as a reliable predictor of aging.” In that case, my Rippetoe workouts have me reverse-aging. Cool.

TEACH WOMEN NOT TO RAPE! (CONT’D): Lawsuit: Female Nurse Had Sex With Medicated Patient. “A man who was in the ICU on medication and awaiting a heart transplant says a nurse came into his room and had sex with him against his wishes, reports CBS Chicago. . . . The suit accuses the facility of negligence because the nurse had a history of such things.”

Related: Erection Does Not Equal Consent.

NOW, SEE, DOUG WEINSTEIN WANTED TO DO SOMETHING LIKE THIS AS A YEAR-ROUND DIVE RESORT IN KNOXVILLE: The deepest pool in the world is 131 feet deep. Though I’d make it half the depth and bigger in other dimensions.

THE “BREAKOUT STAR” OF THE 2014 PRIMARY SEASON? Ace Of Spades HQ Decision Desk. “The Decision Desk, run by blogger Brandon Finnigan as an extension of the conservative Ace of Spades blog, began as an idea a decade ago.”

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): New Record: Pound of Ground Beef Tops $4 for First Time. “Just five years ago, in August 2009, the average price for a pound of ground beef was $2.134, according to the BLS. The price has since climbed by $1.879 per pound—or 88.1 percent.”

Inflation is basically nonexistent, though, so long as you don’t eat, drive, or heat and cool your home.

THE COUNTRY’S IN THE VERY BEST OF HANDS: “The Senate Armed Service Committee hearing on the war against the Islamic State yesterday was not a confidence booster. You got the distinct feeling the administration hadn’t thought through its own plan and was motivated not by the end goal of defeating the Islamic State, but by its desire to keep the U.S. at arm’s length from a war it knows must be fought and won.”

Flashback:

CALIFORNIA GETS TO ZERO ON HEDGE FUNDS:

This is splendid news for all the people of California, though, of course, it will be a bit hard on the hedge fund managers. Notwithstanding the prospect of desperate fund managers having to fly commercial and sell the third home, other states should follow suit.

However, it’s worth noting what this means: California has given up on the hope of above-market returns from hedge fund investments. There is a reason that public-sector pensions have been pouring money into hedge funds: It’s become clear that they are dramatically underfunded. California, for example, is about 25 percent underfunded, according to its chief actuary, with only a 50 percent chance of meeting its 7.5 percent target for annual investment returns.

A state can deal with a pension shortfall in two ways: It can raise contributions, or it can try to get higher returns out of the assets it already has. As mentioned above, this isn’t really a strategy that’s open to a fund as large as Calpers, but that hasn’t stopped Calpers from trying. After a series of grossly irresponsible pension enhancements at the height of the stock market bubble, Calpers tried to make up for the shortfalls by using accounting gimmicks to lengthen the schedule of top-up contributions and pushing into riskier investments.

Now the riskier investments have failed, and the accounting gimmicks were mostly based on the hope that the higher returns would bail Calpers out at some unspecified later date. That leaves the California taxpayer with higher contributions. This has already become a problem with many state and local governments; expect it to become a problem for many more.

It’s nice that they’re finally recognizing reality. It would have been better if they’d been more realistic all along.

WEAK HORSE DIPLOMACY: What Happens When You Bet on Europe and the US These Days. “Ukraine’s devastating defeat by the Russian army not only forced it to ask for a humiliating cease fire, but has now compelled Kiev to make large political concessions to Putin.”