Risky business

Six years after the financial meltdown there is once again talk about market bubbles. The New York Times asks, “Are stocks succumbing to exuberance? Is real estate? We thought we had exorcised these demons. It is therefore with something close to despair that we ask: What is it about risk taking that so eludes our understanding, and our control?imgres

“Part of the problem is that we tend to view financial risk taking as a purely intellectual activity. But this view is incomplete. Risk is more than an intellectual puzzle — it is a profoundly physical experience, and it involves your body. Risk by its very nature threatens to hurt you, so when confronted by it your body and brain, under the influence of the stress response, unite as a single functioning unit. This occurs in athletes and soldiers, and it occurs as well in traders and people investing from home. The state of your body predicts your appetite for financial risk just as it predicts an athlete’s performance.

“If we understand how a person’s body influences risk taking, we can learn how to better manage risk takers. We can also recognize that mistakes governments have made have contributed to excessive risk taking.

“Consider the most important risk manager of them all — the Federal Reserve. Over the past 20 years, the Fed has pioneered a new technique of influencing Wall Street. Where before the Fed shrouded its activities in secrecy, it now informs the street in as clear terms as possible of what it intends to do with short-term interest rates, and when. Janet L. Yellen, the chairwoman of the Fed, declared this new transparency, called forward guidance, a revolution; Ben S. Bernanke, her predecessor, claimed it reduced uncertainty and calmed the markets. But does it really calm the markets? Or has eliminating uncertainty in policy spread complacency among the financial community and actually helped inflate market bubbles? Continue reading “Risky business”

A boom market for assault rifles

imgres-1Now that the post-Newtown nation has suddenly woken up to the breakout popularity of the AR-15, a host of questions are being asked, especially about who is buying these rifles, and why. Why would normal, law-abiding Americans want to own a deadly weapon that was clearly designed for military use?

These somewhat unsettling questions are taken up in Danger Room: “Why are existing AR-15 owners buying as many of these rifles as they can get their hands on? Are these people Doomsday preppers? Militia types, arming for a second American Civil War? Or are they young military fantasists whose minds have been warped by way too much Call of Duty?

“In the wake of the massacre at Sandy Hook Elementary School in Newtown, Connecticut, the AR-15 has gone from the most popular rifle in America to the most scrutinized and, in some quarters, vilified. Also known in its fully automatic, military incarnation as the M16, the rifle was racking up record sales in the years before Sandy Hook, but now, in the midst of a renewed effort to ban this weapon and others like it from civilian hands, the AR-15 market has gone nuclear, with some gun outlets rumored to have done three years’ worth of sales in the three weeks after Newtown.

“Preppers, militia types, and SEAL Team 6 wannabes are certainly represented in the AR-15′s customer base. But fringe groups don’t adequately explain the roughly 5 million “black rifles” (as fans of the gun tend to call it) that are now in the hands of the public. No, the real secret to the AR-15′s incredible success is that this rifle is the “personal computer” of the gun world.

“In the past two decades, the AR-15 has evolved into an open, modular gun platform that’s infinitely hackable and accessorizable. With only a few simple tools and no gunsmithing expertise, an AR-15 can be heavily modified, or even assembled from scratch, from widely available parts to suit the fancy and fantasy of each individual user. In this respect, the AR-15 is the world’s first “maker” gun, and this is why its appeal extends well beyond the military enthusiasts that many anti-gun types presume make up its core demographic.”

 

Full story at: http://www.wired.com/dangerroom/2013/02/ar-15/

Binoculars that can recognize you

It was only a matter of time: the marriage of facial recognition software and digital telescopy. Now the U.S. Navy is talking about binoculars that can identify people.

Take a close look, because the next generation of military binoculars could be doing more than just letting sailors and soldiers see from far away, reports Wired Danger Room. “The Navy now wants binoculars that can scan and recognize your face from 650 feet away.

“That’s according to a Jan. 16 contract announcement from the Navy’s Space and Naval Warfare Systems Command, which is seeking a “Wireless 3D Binocular Face Recognition System.’ imgresDuring a testing period of 15 months, the plan is to improve “stand-off identification of uncooperative subjects” during daylight, using binoculars equipped with scanners that can read your mug from “100 to 200 meters” away, or about 328 to 650 feet. After scanning your mug, the binoculars then transmit the data to a database over a wireless network, where the data is then analyzed to determine a person’s identity. The no-bid contract, for an unspecified amount of money, went to California biometrics firm StereoVision Imaging. Continue reading “Binoculars that can recognize you”

Danger in the shower

“The other morning, I escaped unscathed from a dangerous situation. No, an armed robber didn’t break into my house, nor did I find myself face to face with a mountain lion during my bird walk. What I survived was my daily shower.”  Thus writes Jared Diamond, whose recent book The World Till Yesterday was recently released. Diamond makes some good points, a few of which are excerpted below:

“You see, falls are a common cause of death in older people like me. (I’m 75.) Among my wife’s and my circle of close friends over the age of 70, one became crippled for life, one broke a shoulder and one broke a leg

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in falls on the sidewalk. One fell down the stairs, and another may not survive a recent fall.

“’Really!’ you may object. ‘What’s my risk of falling in the shower? One in a thousand?’ My answer: Perhaps, but that’s not nearly good enough. Continue reading “Danger in the shower”

Invisible soldiers

Apparently, stealth technology is reaching further into the aspirations ofUnknown the U.S. Army. After working on ways to generate artificial fog and camouflaged tanks, the Army now wants “super-black” materials to render its stuff virtually invisible. As Danger Room reports,

“In its latest round of solicitations for small businesses, the Army is asking for proposals for super-black material. That is, material so black that it absorbs 99 percent of all light. But it isn’t really black paint, exactly. The plan is to use either an “antireflective coating or surface treatment process for metals” to absorb stray light “in the ultraviolet, visible, infrared, and far-infrared regions.” This, the Army hopes, will boost the quality of high-resolution cameras, while also cooling down sensitive electronics. Or to put it another way: The Army needs the color black to reflect its icy-cold heart. Continue reading “Invisible soldiers”

Drone strikes on Afghanistan break records this year

As if there was any doubt, official statistics show more deadly drone strikes against Afghanistan in 2012 than the U.S. has ever done anywhere. As Danger Room reports,

“Last month, military stats revealed that the U.S. had launched some 333 drone strikes in Afghanistan thus far in 2012. That made Afghanistan the epicenter of U.S. drone attacks — not Pakistan, not Yemen, not Somalia. But it turns out those stats were off, according to revised ones released by the Air Force on Thursday morning. There have actually been 447 drone strikes in Afghanistan this year. That means drone strikes represent 11.5 percent of the entire air war — up from about 5 percent last year.

“Never before in Afghanistan have there been so many drone strikes. For the past three years, the strikes have never topped 300 annually, even during the height of the surge. Never mind 2014, when U.S. troops are supposed to take a diminished role in the war and focus largely on counterterrorism. Afghanistan’s past year, heavy on insurgent-hunting robots, shows that the war’s future has already been on display.

 

For more see: http://www.wired.com/dangerroom/2012/12/2012-drones-afghanistan/