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Category: economics – Page 127

Venture Capitalist Stuns CNBC

Venture capitalist Chamath Palihapitiya stunned CNBC anchor Scott Wapner and generated widespread applause on social media by declaring in a television interview Thursday that the U.S. government should let hedge funds and billionaire CEOs “get wiped out” by the coronavirus-induced economic collapse and instead focus its attention on rescuing Main Street.

When Wapner, seemingly incredulous at what he was hearing, asked Palihapitiya why he would support the collapse of large companies, the Social Capital CEO said “this is a lie that’s been purported by Wall Street.”

“When a company fails, it does not fire their employees, it goes through a packaged bankruptcy,” said Palihapitiya. “If anything what happens is the people who have the pensions inside the companies, the employees of these companies, end up owning more of the company. The people that get wiped out are the speculators that own the unsecured tranches of debt or the folks that own the equity. And by the way, those are the rules of the game. That’s right. These are the people that purport to be the most sophisticated investors in the world. They deserve to get wiped out.”

Japan budgets $2.2 billion for its manufacturing firms to Leave China

As part of its economic stimulus package, Japan has earmarked $2.2 billion to help its manufacturers shift production out of China. The Japanese government’s panel on future investment had last month discussed the need for manufacturing of high-added value products to be shifted back to Japan, and for production of other goods to be diversified across Southeast Asia.

Germany Touts Green Stimulus in Post Covid-19 Policy Push

👏Europe’s largest economy is looking to make its post-virus recovery compatible with its ambition of becoming carbon-neutral by 2050.

The EU has similarly pledged to make its stimulus plan aligned with its climate commitments.

Germany’s green energy shift may get a financial shot in the arm when the impact of the coronavirus ebbs, according to a senior member of Chancellor Angela Merkel’s cabinet.

When the virus’ acute phase is over, the government plans a stimulus package that advances the nation technologically and helps the economy’s move toward climate neutrality, Finance Minister Olaf Scholz said in an interview with Funke Mediengruppe. Such a package “makes sense,” said the Social Democrat without adding details.

The Kitui County Textile Center (KICOTEC), a Kenyan based industry producing masks to help curb COVD-19 receives international media recognition from the Washington Post Newspaper

The Kenyan factory has achieved a great milestone through its ability to make 30,000 surgical masks daily which is a major turnaround from its initial garment making business. I am glad in the stimulus package money will be given to small business to make things needed to fight coronavirus instead of sourcing them outside. The economic investment will help the economy just as Clinton invested in small businesses.

Japan to Fund Firms to Shift Production Out of China

Japan has earmarked $2.2 billion of its record economic stimulus package to help its manufacturers shift production out of China as the coronavirus disrupts supply chains between the major trading partners.

The extra budget, compiled to try to offset the devastating effects of the pandemic, includes 220 billion yen ($2 billion) for companies shifting production back to Japan and 23.5 billion yen for those seeking to move production to other countries, according to details of the plan posted online.

Detecting real biological viruses with a smartphone

Most of us are similar with ‘viruses’ and malware relating to our computers or smartphones, but Yoshihiro Minagawa, a researcher from the University of Tokyo has taken it on literally – he has invented a portable, low-cost, battery-powered device that pairs with a smartphone, which was tested with viruses but could also detect other biological markers. His initial findings, together with other teammates were published recently in the journal, Lab on a Chip.

The current leading method to assess the presence of viruses and other biological markers of disease is effective but large and expensive. It is prohibitively difficult for use in many situations, especially due to certain economic and geographic factors. Although highly accurate at counting viruses, these tools are just too cumbersome for many situations, especially when rapid diagnosis is required.

“I wanted to produce a useful tool for inaccessible or less-affluent communities that can help in the fight against diseases such as influenza,” said Minagawa. “Diagnosis is a critical factor of disease prevention. Our device paves the way for better access to essential diagnostic tools.”

ENDING SMOKING In This Generation

Dr. Derek Yach, Founder, President, and Board Member of The Foundation for a Smoke-Free World (FSFW), joined me on ideaXme (http://radioideaxme.com/) to discuss his group’s work in the core areas of Agriculture and Livelihoods, Industry Transformation, and Health, Science, and Technology (Disclosure — FSFW is funded ~$US1 Billion by Philip Morris International, but take a listen to full story…) — #Ideaxme #Smoking #Vaping #Tobacco #Cessation #AlternativeUses #HarmReduction #WHO #CDC #Health #Wellness #Longevity #Biotechnology #LifeExtension #Aging #IraPastor #Bioquark #Regenerage World Health Organization (WHO) CDC CDC Global United Nations Philip Morris International.

Ira Pastor, ideaXme life sciences ambassador and founder of Bioquark, interviews Dr. Derek Yach, founder, president, and board member of The Foundation for a Smoke-Free World, and passionate advocate for health promotion and disease prevention. Dr Yach’s objective is to end smoking in this generation. We investigated to see how that might be achieved.

Disclosure: The Foundation for a Smoke-Free World has received its initial funding pledge of $80 million USD annually for 12 years, beginning in 2018 from Philip Morris International (PMI) — The Foundation has a nonprofit status as a US 501c3 organization, and by law and policy must operate completely independently from PMI, and cannot engage in activities designed to support PMI’s interests. Further, PMI can have no involvement or say in their work.

Ira Pastor Comments:

The World Health Organization (WHO) estimates that we currently have over 1.1 billion smokers on earth, and that tobacco kills more than 8 million people each year. More than 7 million of those deaths are the result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to second-hand smoke.

Continue reading “ENDING SMOKING In This Generation” | >

Researchers Solve One of the Most Notorious Open Problems in Math

Mathematicians from the California Institute of Technology have solved an old problem related to a mathematical process called a random walk.

The team, which also worked with a colleague from Israel’s Ben-Gurion University, solved the problem in a rush after having a realization one evening. Lead author Omer Tamuz studies both economics and mathematics, using probability theory and ergodic theory as the link—a progressive and blended approach that this year’s Abel Prize-winning mathematicians helped to trailblaze.