Forget Being Outsourced, We’re Being Siliconsourced

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An interesting take on disappearing jobs:

…digital technologies are rapidly encroaching on skills that used to belong to humans alone. This phenomenon is both broad and deep, and has profound economic implications. Many of these implications are positive; digital innovation increases productivity, reduces prices (sometimes to zero), and grows the overall economic pie.

But digital innovation has also changed how the economic pie is distributed, and here the news is not good for the median worker. As technology races ahead, it can leave many people behind. Workers whose skills have been mastered by computers have less to offer the job market, and see their wages and prospects shrink. Entrepreneurial business models, new organizational structures and different institutions are needed to ensure that the average worker is not left behind by cutting-edge machines.

Found via Cone.

Sentiment Analysis of the Bible

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Biblesentimentanalysis
I was taught to never talk about politics, religion or sex in polite company, but since neither you or I is polite I'm going to talk a little religion here.  Some smart people applied sentiment analysis to the Bible and created a very interesting graphic.  I also like their little descriptor:

Things start off well with creation, turn negative with Job and the patriarchs, improve again with Moses, dip with the period of the judges, recover with David, and have a mixed record (especially negative when Samaria is around) during the monarchy. The exilic period isn’t as negative as you might expect, nor the return period as positive. In the New Testament, things start off fine with Jesus, then quickly turn negative as opposition to his message grows. The story of the early church, especially in the epistles, is largely positive.

Here's their description of sentiment analysis:

Sentiment analysis involves algorithmically determining if a piece of text is positive (“I like cheese”) or negative (“I hate cheese”). Think of it as Kurt Vonnegut’s story shapes backed by quantitative data.

I'm beginning to understand why Bible study sometimes creeped me out.

Ugly Signs and Fish Wrap

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Wells Fargo is trying to make a splash here in the home territory of the former Wachovia Bank it absorbed a while back.  It did a full wrap of today's Winston-Salem Journal, Greensboro News & Record and Charlotte Observer, and apparently some GNR readers aren't thrilled with it. I know this because John Robinson, the GNR's editor, maintains a blog and wrote about it, but I have no idea what WSJ readers' reaction has been because the Journal's folks don't do the blog thing that I know of.

Wells Fargo has a long way to go to win Carolinians' hearts and I don't think buying any amount of fish wrap will do it, although I guess they have to try.  Its western roots and garish red and gold signs don't help here in the land of Carolina Blue either. 

Dull is Totally Underrated

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One thing about having three teenagers is that life never seems to be dull.  Yesterday's a perfect example.  Our daughter turns 18 today (Oct 23) so we had a birthday dinner for her last night.  Unfortunately our youngest, a sophomore at West Forsyth HS, couldn't participate because he's in the Marching Band and they had a competition at North Forsyth HS.  The party went as well as you'd expect a party with a gaggle of 18 year old girls to go, and after dinner my lovely wife, Celeste, and I settled down to relax a little.  We called a friend who was at the band competition to see how it was going (West performed well) and she offered to bring our son home when the buses dropped the kids off at West.

That's when the "life is never dull" really kicked in.  About an hour after the first call our friend called back to ask if we'd heard from our son, and to tell us that there'd been an accident involving one of the buses carrying the band (it ended up there were two buses involved).  Her son was on the bus, but she wasn't sure if ours was.  Celeste called our son's cell and he answered and said that he was on a different bus and that they were pulled over at the scene of the accident.  Celeste then traded calls with our friend and found out that her son was banged up, but was being released to them by the EMTs.  Unfortunately six students and the bus driver had to be sent to the hospital.

We've heard varying reports from our son and other folks about the accident (fuel was leaking from the bus, one of the sax players had his mouth piece driven into his arm, one girl couldn't remember where she was, etc.), and there was a brief story on WXII's website, but the best info I've seen came in emails from the band's director Mr. Kirkpatrick and West Forsyth's principal Mr. Telford.

Before I share them I want to tell you that our son's experience in Marching Band has been a revelation.  As someone who's spent many of his years on a variety of courts and fields playing and coaching different sports I thought I understood teamwork.  Honestly I think marching band is exponentially harder in many ways.  It's hard enough getting 11 kids moving in tandem on a soccer field, but the marching band pulls it off with 100 kids and to do it they spend innumerable hours rehearsing, often in stifling heat or brittle cold, and by engaging student leaders and dozens of parent volunteers. I'm also blown away by the camaraderie that the kids show – I've seen tight teams before but I've never seen a group of kids like this.  Like I said it's been a revelation, and it explains why I'm not surprised that things unfolded the way Mr. Telford and Mr. Kirkpatrick describe:

From Mr. Telford:

Good morning. It is Sunday morning and I want to take the opportunity to touch base with you. Last  night I was at the scene of the bus accident shortly after Mr Kirkpatrick called me. Six West students and a bus driver were transported to the hospital for treatment. They are all OK. This does not dismiss the emotional duress that your student may have experienced.

I am extremely proud of the students, parent volunteers and staff members. The students were cooperative and did all that was asked of them. The parent volunteers were level headed making sure all students were accounted for. Mr Kirkpatrick and Mr Spencer took charge making sure that appropriate steps were taken.

Work closely with Mr Kirkpatrick and Mr Spencer obtaining personal items that may have been left on the bus.  I am sure that all students are tired due to the late evening.

Have a restful Sunday.
Kurt Telford

From Mr. Kirkpatrick:

Parents and Students,

I want you to know how proud I am of each of you in how you handled last night's accident.  As you can imagine, this was a Band Director's worst nightmare.  Fortunately, injuries were minor and everyone is
going to be OK.  I am grateful to have an amazing group of parent chaperones who kept a level head and remained very supportive of the students throughout the ordeal.  Thanks also to Mr. Spencer for being equally helpful in assisting students.  Much appreciation also goes to Mr. and Mrs. Telford and Mr. and Mrs. Powell for coming to the scene immediately to assist.  Belongings can be picked up in the upstairs band room in the morning.

Students, you were amazing on the field and, in this case, especially amazing off the field in a situation that wasn't rehearsed. This was an amazing feat in teamwork from all people involved.

Get some rest, see you Monday.

Speaking as a parent I'd like to thank Mr. Kirkpatrick, Mr. Telford, all of the parent volunteers, the bus drivers and other school staff who did such a great job keeping a bad situation from getting worse.  I'd also like to thank Mr. Kirkpatrick for helping make Marching Band such a great experience for our son.

Hyperdecanting

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For you winos out there (I prefer wino to wine connosieur since being called wino makes me feel less snooty) here's an interesting way to decant wine:

Wine lovers have known for centuries that decanting wine before serving it often improves its flavor. Whatever the dominant process, the traditional decanter is a rather pathetic tool to accomplish it. A few years ago, I found I could get much better results by using an ordinary kitchen blender. I just pour the wine in, frappé away at the highest power setting for 30 to 60 seconds, and then allow the froth to subside (which happens quickly) before serving. I call it “hyperdecanting.”

Congress Trying to Get More Efficient

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My fellow Americans I believe Congress might finally be endeavouring to become more efficient since they seem to be trying to kill two birds with merely one stone.

The reeling housing market has come to this: To shore it up, two Senators are preparing to introduce a bipartisan bill Thursday that would give residence visas to foreigners who spend at least $500,000 to buy houses in the U.S…

Foreigners have accounted for a growing share of home purchases in South Florida, Southern California, Arizona and other hard-hit markets. Chinese and Canadian buyers, among others, are taking advantage not only of big declines in U.S. home prices and reduced competition from Americans but also of favorable foreign exchange rates.

To fuel this demand, the proposed measure would offer visas to any foreigner making a cash investment of at least $500,000 on residential real-estate—a single-family house, condo or townhouse. Applicants can spend the entire amount on one house or spend as little as $250,000 on a residence and invest the rest in other residential real estate, which can be rented out…

International buyers accounted for around $82 billion in U.S. residential real-estate sales for the year ending in March, up from $66 billion during the previous year period, according to data from the National Association of Realtors. Foreign buyers accounted for at least 5.5% of all home sales in Miami and 4.3% of Phoenix home sales during the month of July, according to MDA DataQuick.

Housing crisis? Check. Immigration? Check. Gotta love efficiency.

Hopefully I’ll Be Graded on a Curve

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The New York Times' Real Time Economics blog provides a handy-dandy calculator to help you determine where you stand in the United States income spectrum.  Spurred by the whole Occupy Wall Street "We are the 99%" this calculator allows you to input your annual household income and see what percentile you fall under.  Personally I hope I'm graded on a curve.  I, like Ed, like to think that I'm worth more than I make, or for that matter, more than my kids think I'm worth.

WTF TBTF BAC?

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This post by Fec about Bank of America put me off my breakfast:

So that’s $53T in unregulated derivatives being backstopped by $1T in customer deposits. And remember, those derivatives are largely contracts made with the other TBTF banks, so that if one goes down, they all go down. And there’s no way in hell the FDIC (the taxpayers) can cover those kind of losses.

At this point, I can’t imagine why anyone would leave their money, much less own stock, in a TBTF bank.

I remember the deregulation of the '90s. At the time it made sense to me that a bank could start offering their customers investment services since, you know, it let them do stuff with their money without having to inconvenience themselves with dealing with two (or more) different people.  Then again I didn't know jack about banks or the markets so it isn't a real surprise that I couldn't see the possible negatives in a deregulated environment.  In retrospect the deregulation doesn't seem like it was such a good idea, even to a financial fool like me.

**Update**- In a later post Fec provided a link to a good article explaining the Bank of America situation.

Generation X Speaks Up

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I've always been fascinated by the generation thing, probably because all I've ever heard about was how the generation I just missed, the Baby Boomers, had such an outsized influence on the world and how their evil progeny, the Echo Boomers, are likely to have an even greater impact. My generation seems to be the forgotten Olive Loaf in the generational sandwich.

I can remember going to a middle school that had empty lockers because all the Boomers were gone and they left over capacity in their wake.  I can also remember sitting in a class in college and having a professor point out that my generation, the yet-to-be-identified Generation X, probably wouldn't have Social Security waiting for us because the Boomers would live longer, and in greater numbers, than the program's designers had intended and that he couldn't imagine the political will of anyone to make the changes necessary to keep Social Security viable for later generations.  Generation X has literally been joking about not having Social Security since before we even really understood what it was, and sadly we have no reason to think it's really a joke.

I was wondering when someone would write, say or do something that would capture Generation X's spirit and if the 1,280+ comments on a blog post titled Generation X Doesn't Want to Hear It are any indication I think I might have found it:

Generation X is a journeyman. It didn’t invent hip hop, or punk rock, or even electronica (it’s pretty sure those dudes in Kraftwerk are boomers) but it perfected all of them, and made them its own. It didn’t invent the Web, but it largely built the damn thing. Generation X gave you Google and Twitter and blogging; Run DMC and Radiohead and Nirvana and Notorious B.I.G. Not that it gets any credit. 

But that’s okay. Generation X is used to being ignored, stuffed between two much larger, much more vocal, demographics. But whatever! Generation X is self-sufficient. It was a latchkey child. Its parents were too busy fulfilling their own personal ambitions to notice any of its trophies—which were admittedly few and far between because they were only awarded for victories, not participation…

Generation X is tired.

It’s a parent now, and there’s always so damn much to do. Generation X wishes it had better health insurance and a deeper savings account. It wonders where its 30s went. It wonders if it still has time to catch up…

Whatever. It’s cool. 

The post appears to have been written in response to a New Yorker article about the travails of Echo Boom generation, and I think it really does reflect how a lot of folks my age feel.

Whatever.