Whether a sudden sharp decline in asset prices amounts to a meaningless blip or something more depends on mass psychology.
“This crash is probably nothing. But they always are, except for the times when they aren’t.”
Nice little piece from The Economist
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“Everyone is entitled to his own opinion, no one is entitled to his own facts.”
(via Michael Bungay Stanier)
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In the days when I used to borrow money to buy a car I understood what I was doing. Price was £X000 borrow money at Y% over 3 years means you repay £Z every month until you can either enjoy loan free driving for a year or two or start again. Then the game changed instead of a loan you were asked to get involved in a Personal Contract Purchase (PCP) which sounded to me like renting the car.
Hearing my friend Jimmy extolling its virtues because “you can upgrade your Merc every couple of years because you just roll it on” sounded like pass the parcel but when you eventually removed the wrapping you were left with the bill for the party – or no car.
I presumed that I just didn’t understand and went back to driving my second hand, 3-series Beemers until they died beneath me. Incidentally that’s 4 cars in 31 years – total purchase cost £25K.
It seems that I was right about this PCP business and the balloon payment idea is another bubble (hardly surprising) waiting to burst.
From The Conversation:
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A collection of quotes, aphorisms, sayings, songs or poems to get your week off to a good start.
The song is earlier than you think.
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HPV vaccine: anger over decision not to extend NHS scheme to boys
I have written about this before here and here and here
The decision is disappointing and short sighted but predictable.
Here’s the BDA’s opinion:
“The decision by the Joint Committee on Vaccination and Immunisation (JCVI), not to vaccinate boys against Human Papilloma Virus (HPV) has been condemned by health bodies and campaigners. Following a review of the vaccination programme the JCVI concluded that it was “highly unlikely to be cost-effective” to extend the scheme to include adolescent boys as well as girls. The committee, which has yet to publish its final recommendation, said in an interim statement that studies “consistently show” boys are afforded “considerable herd protection” when there is high uptake of the vaccine in girls. A number of campaign groups criticised the decision, including the BDA. Quoted by several outlets including the Guardian, BBC and Daily Mail BDA chair Mick Armstrong noted that HPV is the leading cause of oropharyngeal cancers, a condition which can have life-changing results. He said government must offer every child the best chance of protection. HPV Action, a campaign group of which the BDA is a member, said they would urge ministers to make the right decision and said there might also be grounds for a legal challenge on the grounds that a decision to leave boys and men at risk breaches equality law. This initial recommendation by JCVI will now be subject to a public consultation and a final decision will be made in October. The BDA said it would urge the committee to reconsider the evidence.”
The Guardian & the BBC agree (as do the Mail and the Sun it seems).
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Mary Meeker of Kleiner Perkins Caufield & Byers has released her highly anticipated, annual presentation on internet trends at this year’s Code conference.
The article in Quartz with a link to her slides is HERE it’s worth a look
Some highlights from the presentation:
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As The British & Irish Lions start their tour of New Zealand…..
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