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To Accompany the March 15, 2018 edition of Tidbits
Bob Jensen at Trinity University
USA Debt Clock --- http://www.usdebtclock.org/ ubl
In September 2017 the USA National Debt exceeded $20 trillion for the first time
How Your Federal Tax Dollars are Spent ---
To Whom Does the USA Federal Government Owe Money (the booked
obligation of $20+ trillion) ---
The US Debt Clock in Real Time --- http://www.usdebtclock.org/
Remember the Jane Fonda Movie called "Rollover" --- https://en.wikipedia.org/wiki/Rollover_(film)
One worry is that nations holding trillions of dollars invested in USA debt are dependent upon sales of oil and gas to sustain those investments.
To Whom Does the USA Federal Government Owe Money (the
unbooked obligation of $100 trillion and unknown more in contracted
The biggest worry of the entitlements obligations is enormous obligation for the future under the Medicare and Medicaid programs that are now deemed totally unsustainable ---
How Americans Get Health Insurance ---
Sometimes the grass is greener on
the other side because it's been fertilized with more bullshit.
The worst form of inequality is to try to make
unequal things equal.
How many times have we heard ‘free
tuition,’ ‘free health care,’ and free you-name-it? If a particular good or
service is truly free, we can have as much of it as we want without the
sacrifice of other goods or services. Take a ‘free’ library; is it really free?
The answer is no. Had the library not been built, that $50 million could have
purchased something else. That something else sacrificed is the cost of the
library. While users of the library might pay a zero price, zero price and free
are not one and the same. So when politicians talk about providing something
free, ask them to identify the beneficent Santa Claus or tooth fairy.
Every great cause begins as a movement,
becomes a business, and eventually degenerates into a racket.
The inherent vice of capitalism is the unequal
sharing of blessings; the inherent virtue of socialism is the equal sharing of
Shoot for the space in between,
because that's where the real mystery lies.
Only those who
will risk going too far can possibly find out how far one can go.
is a crack in everything, that’s how the light gets in.
Be brave enough to start a conversation that matters.
Even conversations that are not politically correct.
That government is best which governs the least,
because its people discipline themselves.
Why, we grow rusty and you
catch us at the very point of decadence --- by this time tomorrow we may have
forgotten everything we ever knew. That's a thought isn't it? We'd be back to
where we started --- improvising.
Tom Stoppard, Rosencrantz and Guildenstern are Dead (Act I)
It's hard to beat a person who never gives up.
Historic Home Run Hitter
What's sad is to witness what Syria has become because nobody will give up.
And "because they're
nonstate actors, it's hard for us to get the satisfaction of [Gen.] MacArthur
and the [Japanese] Emperor [Hirohito] meeting and the war officially being
over," Obama observed, referencing the end of World War II.
We must be willing to get rid of the
life we've planned, so as to have the life that is waiting for us.
If everyone is thinking alike, then
somebody isn't thinking.
George S. Patton
And many writers have imagined for themselves
republics and principalities that have never been seen or known to exist in
reality; for there is such a gap between how one lives and how one ought to live
that anyone who abandons what is done for what ought to be done learns his ruin
rather than his preservation: for a man who wishes to profess goodness at all
times will come to ruin among so many who are not good.
If you don't know where you're going, you might
not get there.
Happiness is like a butterfly: the
more you chase it, the more it will elude you, but if you turn your attention to
other things, it will come and sit softly on your shoulder.
Henry David Thoreau
You can get a lot farther with a smile and a
gun than you can with just a smile.
Speak softly and carry a big stick, and you
will go far.
The US's national debt spiked $1 trillion (to
over $20 trillion) in less than 6 months ---
|USA Debt Clock --- http://www.usdebtclock.org/
USA unbooked entitlements commitments are now over $100 trillion
Prosecutors demand 30-year prison term for
South Korean President Park Geun-hye in landmark corruption case ---
50 Cent reportedly told the bankruptcy court
that he never owned bitcoin, contrary to a report that he made $8 million in
How to Mislead With Statistics: Gun
Buyback Claims and Media Lies
I'm not against gun buybacks. But I'm against media bias in reporting almost anything that distorts known facts.
Switzerland has a stunningly high rate of gun
ownership — here's why it doesn't have mass shootings ---
It's almost impossible to compare nations with respect to gun ownership because of the enormous differences in population, profiles of the population, treatments of the mentally ill, number of 0 or 1 parent homes, societal laws, etc.
Meet the Conservative Parkland Massacre Survivor the Media Has Largely Ignored --- https://townhall.com/tipsheet/guybenson/2018/03/05/exclusive-conservative-parkland-survivor-n2457366?utm_source=thdailypm&utm_medium=email&utm_campaign=nl_pm&newsletterad=
The global super-rich are moving to Italy. The
country is luring the ultra-wealthy with a flat $123,000 tax if they make the
nation their home. The offer is part of a strategy to speed up its economic
recovery by attracting investment and fresh capital ---
The (London) Times: AID workers from the UN
demanded sex from Syrians ---
Read the full story
The U.S. Census Bureau Keeps Confusing
Race and Ethnicity ---
Why Trump May Usher In the Biggest Gas Tax
Will electric car owners still get a free ride?
Putin describes Russian 'doomsday' nuclear
weapon in a wild speech to the nation ---
How the super-wealthy hide billions using tax
havens and shell companies ---
San Francisco's downtown area is more
contaminated with drug needles, garbage, and feces than some of the world's
poorest slums ---
Harvard's $1 billion losing bet. The
university’s highly paid money managers thought they could manage risks other
schools avoided. Not so. Harvard bet the farm on natural resources around the
world, including tomatoes, sugar, and eucalyptus. It didn't go too well.
This can happen when you don't hedge high-risk speculations in commodities.
The powerful Jews are my enemy, and "white
folks are going down---
LOUIS FARRAKHAN Confirms DNC Deputy Chair Keith Ellison
Was Disciple of Nation of Islam Keith Ellison was exposed earlier this month for
lying about a meeting with Louis Farrakhan and the President of Iran in 2013.
Rep. Ellison and fellow Democrat Gregory Meeks had dinner with Louis Farrakhan
and Iranian leader Hassan Rouhani in 2013. LOUIS FARRAKHAN Confirms DNC Deputy
Chair Keith Ellison Was Disciple of Nation of Islam The Democratic Party finally
has a Deputy Chair who represents the true values of the party ---
Why Tamika Mallory (National Co-Chair of the Women's March)
Won’t Condemn Farrakhan ---
Amazon’s global headquarters is not in
Seattle, but in the tiny landlocked nation of Luxembourg (Amazon employs more
than 40,000 people in Seattle, compared to 1,500 people in Luxembourg.) ---
The (Sad) State of the IRS ---
The IRS was in deep trouble even before Trump came to town, and afterwards things got worse.
Merkel blows whistle on ‘no-go zones’ in
Germany…exposing ‘massive cover up by mainstream media’ ---
In fact, a number of countries that have more restrictive gun laws than the U.S. have higher suicide rates. Japan, for example has a substantially higher rate, and guns are very difficult to acquire there ---
ABC: Anything But Conservative ---
What the History of Food Stamps Reveals ---
Dolly Parton Gives The Gift Of Literacy:
A Library Of 100 Million Books ---
The New York Times: Hand Grenades and Gang
Violence Rattle Sweden’s Middle Class ---
Tom Fitton’s newest book, Clean House,
powerfully lays out what Judicial Watch uncovered about the Obama administration
during its second term ---
Who is more at fault for the failure of the
Democratic Party? Is it Homi Bhabha and Judith Butler—or Lawrence Summers?
We have people from U.K., Switzerland,
Russia, from U.S., the usual wealthy suspects seeking tax relief
(moving to Italy for a low flat tax of $123,000) ---
Very wealthy people from the USA can also save enormously by living in Puerto Rico for at least half of a year.
Gary Cohn (a free-trade advocate) resigns as
Trump's top economic advisor ---
I'm also a free-trade advocate except when it makes our military vulnerable to supply disruptions. However, Trump's recent initiative toward tariff negotiations does give the USA some leverage such as when protecting our large tech giants from a proposed 5% (just for openers) surtax in the EU. I don't think that critics at the moment are considering that the outside world likes to kick USA firms (think taxation) harder and harder. The EU was originally formed to reduce tariffs among EU nations while building tariff walls against the outside world. At the moment there's a huge movement within the EU to tax USA companies. The EU is hardly a poster child for lower taxation and tariffs.
Time Magazine: Outcast Steve Bannon
Takes Trumpism to Europe and Gets a Rock Star's Welcome ---
The Atlantic: Is Big Business Really
Why Women Choose Differently at Work ---
Bob Jensen's threads on women in the professions ---
Oscar 2018 viewership was the worst in history
--- a defensive Jimmy Kimmel blamed Netflix for the historic ratings catastrophe
Apparently Netflix viewers were watching movies --- but not the lousy movies selected by the Motion Picture Academy
Why this man who barged in on his cheating
wife could get 15 years ---
Did Amazon's owner Jeff Bezos (the richest man in the world) read
Jeff Also Owns the Washingto Post
It's Time to Give Socialism a Try
I the current economy of nearly full employment the WaPo picked a poor time to asset that captialism is failing?
Like the capitalist Nordic and Chinese countries are also failing?
Of course the WaPo could not identify a single socialist nation (Cuba, North Korea, Venezuela) where socialism is booming?
Chicago Tribune: Louis Farrakhan's
anti-Semitism and the silence of the left ---
Trump's steel tariffs are nothing compared
with the looming war over intellectual property theft with China ---
Washington Post on Anti Semitism of the
Democratic Party Co-Chair: No, Mr. Ellison, Your Relationship With
Farrakhan Did Not End When You Entered Congress ---
Great opportunity or trap? 12 experts weigh in
on the Trump-Kim summit ---
What Makes Kim Jong Un Tick ---
Everything we think about the political correctness
debate is wrong ---
Hundreds of Girls Raped and Forced Into
Prostitution in Small English Town ---
Islamic criminals shielded by the media and the law
Accountant of Auschwitz,’ guard who helped
murder 300,000 Jews, dead at 96 ---
Banning literature in prisons perpetuates
system that ignores inmate humanity ---
More often than not with social controversies there's no perfect win-win
What are the comparisons of the armed teachers controversy with philosophy's Trolley Problem? ---
Chronicle of Higher Education: Arming the Faculty: a Few Questions
Trolley Problem: Philosophers are
building ethical algorithms to help control self-driving cars ---
This includes the wild-west tactic of shooting an unsuspecting person from behind.
New York Times: Who Should Be Armed in Florida Schools? Not
Teachers, Lawmakers Say. But Maybe Librarians ---
The advantage of having teachers armed (even only a small number) is that the invader(s) don't know who's armed, how many are armed, and where the armed protectors are located. The invaders may initially bushwhack the librarians first if they're the only ones with concealed weapons.
Of course if there is an police station on a higher education campus along with armed police on patrols there's not a whole lot of added advantage in arming librarians concentrated in a central library.
How to Mislead With Statistics
MIT’s (mostly with Stanford researchers) Uber study couldn’t possibly have been right. It was still important ---
The study appears to have been sloppy and unprofessional rather than intentionally misleading even though it serves the liberal agenda.
The obvious question overlooked is why so many workers volunteer for Uber
when there are many opportunities for earning more than $3.37 per hour in this
economy where help wanted signs are posted in front of nearly all
Didn't the researchers think about that? The article points out some other things these researchers overlooked.
The quote at the end of the article is a hoot:
Yes, $3.37 an hour was a crazy number. But when people are primed to believe that driving for Uber is a crappy job, then you better bet they are going to believe a prestigious academic study that comes along telling them exactly that.
If you do a Google search most of the media (which tends to be
liberal) thinks the $3.37 is absolute fact. Abe Lincoln said it best:
"You can fool all the people some of the time, and some of the people all of the time, but not . . . "
I'm not sure it takes such powerful cost accounting math as much as it takes common sense. For example, depreciation of a car is a decline in value that combines four important variables: Make versus Mileage versus Age versus temporal Non-stationary Market prices and Variance in prices. No powerful math can disentangle those confounded variables in spite of what Einstein wished was the case. And the confounding varies with locale. For example, road salt in New Hampshire increases the importance of Mileage relative to Age and Make such that New Hampshire Uber drivers probably get hit harder than Arizona drivers, but nobody can accurately measure the effect of salt in a particular car (that differs from an average car). Other factors intervene such as how often the car is washed and what is paid for the wash.
And even things like gas prices vary greatly from Texas to Maryland to California.
And tips vary a lot with customers and conditions such as any Uber driver tomorrow morning in New Hampshire will likely get a bigger tip during a Nor'easter.
Thus its not the power of the math as much as it is the lack of data for millions of variations in non-stationarities of the variables in a given Uber trip.
Gig Economy ---
This is under the category "Temporary Work," but that's misleading since more and more gig workers are going full time.
1 in 3 Workers Employed in Gig Economy, But Not All By Choice ---
The gig workers are fairly evenly divided between men (49%) and women (51%). Only 8% are seniors, and 23% are youths.
What is especially surprising is that only 21% are from low income households.
This suggests that many gig workers are getting gigs for reasons other than financial desperation. Some may just want to get out of the house or to add to their work skills.
The Gig Economy: What a Stanford University Labor Economist Is
Learning by Driving for Uber ---
Why is the "gig economy" becoming such a big deal in the takeover of traditional employer-employee labor market and what are the consequences?
Not addressed in these articles is how colleges and universities are increasingly tapping into the adjunct teaching market for various reasons including budget constraints, avoiding tenure locks, and need for professional specialties and experience that are not taught in Ph.D. programs.
Bitcoin --- https://en.wikipedia.org/wiki/Bitcoin
Ethereum --- https://en.wikipedia.org/wiki/Ethereum
Goldman Sachs investment chief: Bitcoin is definitely a bubble, Ethereum
even more so ---
A crypto expert explains the difference
between the two largest cryptocurrencies in the world: bitcoin and Ethereum
You can now rent a
Kodak-branded bitcoin-mining rig — but you'll have to hand over half of the
profits you make ---
Why wasn't it called Kodak's Bitcoin Brownie?
A guide to paying taxes on cryptocurrency (e.g.
bitcoin) profit ---
Blockchain --- https://en.wikipedia.org/wiki/Blockchain
Blockchain will track how meat gets from Australian farms to Chinese
Bob Jensen's health care messaging --- http://faculty.trinity.edu/rjensen/Health.htm
World Wealth & Income Database --- http://wid.world/
OECD Health Statistics 2016 --- http://www.oecd.org/els/health-systems/health-data.htm
Facts and statistics (Fast Facts) --- http://gwu.edu/~gprice/handbook.htm
The case that Idaho’s brazen anti-Obamacare plan isn’t illegal after all
Bob Jensen's links to data and statistics ---
Bob Jensen's World Library ---
Bob Jensen's threads on health coverage are at
Tidbits Archives ---
Jensen's Pictures and Stories
Summary of Major Accounting Scandals --- http://en.wikipedia.org/wiki/Accounting_scandals
Bob Jensen's threads on such scandals:
Bob Jensen's threads on audit firm litigation and negligence ---
Current and past editions of my
newsletter called Fraud Updates ---
Enron --- http://faculty.trinity.edu/rjensen/FraudEnron.htm
Rotten to the Core --- http://faculty.trinity.edu/rjensen/FraudRotten.htm
American History of Fraud --- http://faculty.trinity.edu/rjensen/FraudAmericanHistory.htm
Bob Jensen's fraud
Bob Jensen's threads on
auditor professionalism and independence are at
Bob Jensen's threads on
corporate governance are at
Against Validity Challenges in Plato's Cave ---
· With a Rejoinder from the 2010 Senior Editor of The Accounting Review (TAR), Steven J. Kachelmeier
· With Replies in Appendix 4 to Professor Kachemeier by Professors Jagdish Gangolly and Paul Williams
· With Added Conjectures in Appendix 1 as to Why the Profession of Accountancy Ignores TAR
· With Suggestions in Appendix 2 for Incorporating Accounting Research into Undergraduate Accounting Courses
Against Validity Challenges in Plato's Cave ---
By Bob Jensen
wrong in accounting/accountics research? ---
The Sad State of Accountancy Doctoral Programs That Do Not Appeal to Most
AN ANALYSIS OF THE EVOLUTION OF RESEARCH CONTRIBUTIONS BY THE ACCOUNTING REVIEW:
Bob Jensen's threads on accounting theory
Systemic problems of accountancy (especially the vegetable nutrition paradox)
that probably will never be solved
Bob Jensen's economic crisis messaging http://faculty.trinity.edu/rjensen/2008Bailout.htm
Bob Jensen's threads --- http://faculty.trinity.edu/rjensen/threads.htm
Bob Jensen's Home Page --- http://faculty.trinity.edu/rjensen/