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Monthly Archives: August 2020
The spread of ‘stranger than we can think’ – Yahoo Lifestyle
Posted: August 19, 2020 at 1:13 am
Deepak Chopra explains how there is one mystery after another nested inside everyday experience. (Photo by: Nathan Congleton/NBCU Photo Bank/NBCUniversal via Getty Images via Getty Images)
As we go about everyday life, we are embedded in a mystery no one has ever solved. The mystery was voiced by one of the most brilliant quantum pioneers, Werner Heisenberg: Not only is the Universe stranger than we think, it is stranger than we can think. (There are variants of the quote that use reality for universe, and the remark has also been attributed to other famous scientists, but the gist is always the same.)
If we take this remark seriously, it turns out to be truer today than it was in 1900 when the quantum revolution began and the revolutionary new theory of quantum mechanics was put together. How can reality be stranger than we could possibly think? Look at the framework of your life. You pick up your morning coffee, and instantly you are acting in space and time. Your perception of the cup in your hand depends upon the five senses as communicated through the brain. You can think about anything you fancy as you sip your coffee.
These might not seem so mysterious, but there is one mystery after another nested inside everyday experience. Science can reach no consensus on the following:
Where did time come from?
Why do properties of physical objects have their origin in invisible waves of the probability of observation?
Where does a thought come from?
How did matter transform into mind?
Is consciousness solely a human trait or is it everywhere in the universe?
The pioneers of quantum physics werent the first to ask such questions, but quantum physics got to the nub of how the physical universe is constructed. Everything in existence emerges from ripples in the quantum field, and underlying these ripples is an invisible or virtual domain that goes beyond spacetime, matter, and energy. In the virtual domain, the universe and everything in it is a field of infinite possibilities, and yet the virtual domain cannot be observed directly. As a result, contemporary physics can take us to the horizon of reality, the womb of creation, but it cannot cross the boundary between us and our source of existence.
Story continues
Almost all the recent models that have gained popularity, including superstrings, the multiverse, and dark matter and energy, exist in so-called mathematical space, or Hilbert space, in recognition that they are not going to yield direct empirical evidence that can be perceived with our senses. Astrophysics had already gotten used to the fact that just four percent of the created universe is accounted for by the matter and energy visible to the eye or to telescopes. With dark matter and energy added in, most of what we see is not really what the universe consists of.
Leaving the technicalities aside, it has become far more difficult to foresee that the human mind can fully comprehend the nature of reality when so many crucial aspects are beyond the setup that our brains can grasp. The thinking mind needs the brain in order to operate, and the brain is a creation in spacetime consisting of matter and energy, that is in spacetime. We wear mind-made manacles. When this fact dawned on the late Stephen Hawking, he ruefully conceded that scientific models might no longer describe reality in any reliable or complete way.
When we discussed these issues in our book, You Are the Universe, the title reflected another approach entirely. Instead of founding the universe on physical things, however small, or even ripples in the quantum field, which are knowable only through advanced mathematics, reality can be grounded in experience. Everything we call real is an experience in consciousness, including the experience of doing science. Mathematics is a very refined, complex language, but there is no language, simple or complex, without consciousness.
The vast majority of scientists will continue to engage in experimentation and theoretical modeling without this venture into metaphysics, which is a no-no word in science (a famous put down when things get to speculative is Shut up and calculate). But it was quantum physics that brought the mystery of reality into the laboratory in modern terms, even though Plato and Aristotle also wondered about what is real.
A younger generation has proved more open-minded, and a growing cadre of cosmologists now hold to the notion of panpsychism, which holds that mind is built into reality from the start. This is a huge turn-around from the view that the mind evolved out of matter here on earth as a unique creation. The fact is that nobody in the physicalist camp could explain how atoms and molecules learned to thinkcreating mind out of matter was dead on arrival, even though the vast majority of scientists still hold on to this view as an assumption or superstition.
Ironically, to say that reality is stranger than we can think isnt confined to the queer behavior of atoms and subatomic particles. You cannot think about consciousness, either, any more than the eye can see itself or the brain know that it exists (without cutting through the skull to see the brain from the outside). A fish cannot know that water is wet unless it jumps out of the sea and splashes back down again. We cannot think about consciousness without a place to stand outside consciousness, and such a place doesnt exist in the entire cosmos.
The source of space isnt inside space; the source of time isnt in time. Likewise, the source of mind isnt inside the mind. The ceaseless stream of sensations, images, feelings and thoughts that run through your mind are the products of consciousness. Consciousness itself has no location. It is infinite, without dimensions in space and time, unborn and undying. Can you really think about such a thing as consciousness? And yet you know without a doubt that you are conscious. This is what allows us to make peace with reality being too strange to think about.
We can simply drop the strange part. Reality can be founded on knowing that you exist and that you are aware. Existence is consciousness. If science is dedicated to the simplest, most complete explanation of things, existence, consciousness is the simplest and most complete explanation. There is no need for religious or spiritual beliefs in order to accept this foundation for reality since it is based on what science has arrived at. By removing our outdated allegiance to things existing independently of consciousness, the basis of reality can be seen clearly. In our everyday life, we navigate with existence and consciousness at our side, indivisible, secure, inviolate, and unchallengeable. A whole new future may spring from accepting this simple but awe-inspiring fact.
Menas C. Kafatos contributed to this article
DEEPAK CHOPRA MD, FACP, founder of The Chopra Foundation, a non-profit entity for research on well-being and humanitarianism, and Chopra Global, a modern-day health company at the intersection of science and spirituality, is a world-renowned pioneer in integrative medicine and personal transformation. Chopra is a Clinical Professor of Family Medicine and Public Health at the University of California, San Diego and serves as a senior scientist with Gallup Organization. He is the author of over 89 books translated into over forty-three languages, including numerous New York Times bestsellers. His 90th book, Metahuman: Unleashing Your Infinite Potential, unlocks the secrets to moving beyond our present limitations to access a field of infinite possibilities. Time magazine has described Dr. Chopra as one of the top 100 heroes and icons of the century.
Menas C. Kafatos is the Fletcher Jones Endowed Professor of Computational Physics at Chapman University. Author, physicist and philosopher, he works in quantum mechanics, cosmology, the environment and climate change and extensively on philosophical issues of consciousness, connecting science to metaphysical traditions. Member or candidate of foreign national academies, he holds seminars and workshops for individuals, groups and corporations on the universal principles for well-being and human potential. His doctoral thesis advisor was the renowned M.I.T. professor Philip Morrison who studied under J. Robert Oppenheimer. He has authored 334 articles, is author or editor of 20 books, including The Conscious Universe, Looking In, Seeing Out, Living the Living Presence (in Greek and in Korean), Science, Reality and Everyday Life (in Greek), and is co-author with Deepak Chopra of the New York Times bestseller You are the Universe (Harmony Books), translated into many languages and at many countries. You can learn more here.
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Raytheon Technologies invests in new transformational STEM high school – PRNewswire
Posted: at 1:13 am
HUNTSVILLE, Ala., Aug. 18, 2020 /PRNewswire/ --Raytheon Technologies (NYSE: RTX) gave a $4 million grant tothe newly formed Alabama School of Cyber Technology and Engineering (ASCTE) to help prepare students for cybersecurity careers in government and industry.
"The school offers an incredible opportunity for students to learn from leaders in STEM education, as well as subject matter experts within industry like those from Raytheon Technologies," said Matt Massey, ASCTE President. "This initiative is exciting for the entire state of Alabama with even further-reaching impact."
ASCTE is Alabama's only fully public, residential high school for students from across the state's 137 school districts seeking advanced studies in engineering and cyber technology.Tuition and housing for ASCTE are free.
"Alabama students now have the opportunity to access one of the most advanced engineering and cybersecurity preparatory programs anywhere," said Roy Azevedo, president of Raytheon Intelligence & Space, which includes the company's cyber business. "Raytheon Technologies' partnership with ASCTE, Huntsville and the state of Alabama will help our nation meet the demand for a future cyber and engineering workforce, while providing students with the education and skills they need to thrive in these careers."
The curriculum at ASCTE will address America's shortage of qualified cybersecurity and engineering development talent. According to a 2019 (ISC)2 Cybersecurity Workforce Study, the current cybersecurity workforce needs to grow by 145 percent to meet global demand.
"Advanced cybersecurity capabilities are critical to our national defense today and in the future," said Wes Kremer, president of Raytheon Missiles & Defense. "Through collaborative partnerships like ASCTE, we will grow our capacity in cyberspace to ensure its security for generations to come."
The City of Huntsville has donated 25 acres of land in Cummings Research Park for construction of the school's campus. The permanent facility will open in August 2022, but an interim site at Oakwood University opened its doors on August 17th to ASCTE's first cohort of 75 students.The school expects to grow to over 350 students by 2024.
"Leadership from the private sector will play a big part in maximizing the potential of the Alabama School of Cyber Technology and Engineering," said Alabama Gov. Kay Ivey, who sponsored state legislation passed in 2018 to establish ASCTE. "All of us involved in creating this unique school thank Raytheon Technologies for its generous donation and its leaders for their pledge of ongoing support."
Raytheon Technologies invests millions of dollars in STEM education programs around the world every year to develop future technology leaders and give back to local communities. These programs include:
About Raytheon Technologies Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With 195,000 employees and four industry-leading businesses Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
Raytheon Technologies 870 Winter Street Waltham, MA 02451 USA
Media Contacts Ryan Elliott C: +1 469.933.8913 [emailprotected]
Briana Gabrys C: +1 520.354.0871 [emailprotected]
SOURCE Raytheon Technologies
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The Wheel of Time and the Storytelling Problem in the Concept of a Binary – tor.com
Posted: at 1:13 am
While Spirit was found equally in men and in women, great ability with Earth and/or Fire was found much more often among men, with Water and/or Air among women. There were exceptions, but it was so often so that Earth and Fire came to be regarded as male Powers, Air and Water as female. Generally, no ability is considered stronger than any other, though there is a saying among Aes Sedai: There is no rock so strong that water and wind cannot wear it away, no fire so fierce that water cannot quench it or wind snuff it out. It should be noted this saying came into use long after the last male Aes Sedai was dead. Any equivalent saying among male Aes Sedai is long lost.
Glossary, The Eye of the World
I, like many other fans and critics, have written before about my dislike of the gendered nature of channeling in The Wheel of Time. You dont have to be a gender studies major to recognize the problems with suggesting that the driving power of the universe is divided into two halves, which are diametrically different from each other and which each correspond to human gender.
Even if you (incorrectly) believe that there are only two genders (nope) and that these genders are recognizable by a strict and limited set of physical traits (nope again), this premise still doesnt make a lot of sense. Sure, it corresponds to the general societal assertion that men and women are basically different species. But if you think about it for more than five seconds, the idea becomes pretty laughable, especially when you consider the complexities of physics and philosophy that Jordan employs in other aspects of his world-building in The Wheel of Time.
Consider, if you will, how the One Power is accessed. A woman channeling saidar must surrender to its river-like flow, opening up to it like a blossoming flower and letting herself be filled, then guide in the direction she wants. A man, on the other hand, has to seize control of the wild torrent of saidin, fighting it every step of the way and bending it to his will before he can wield it, like a tool or weapon. It does make sense to think of the One Power as a river (and the Wheel of Time as the waterwheel over which it flows) and a great river will have both rough, turbulent parts as well as slow-moving, deep parts. But what happens to a male channeler who is not a dominant type of person? Can he not learn to channel well? Are only men with the proper commanding and aggressive tendencies given the ability in the first place? Or is the insinuation that this is just what men are like, all men, and so saidins nature makes perfect sense?
The problem becomes even more obvious when we consider women and saidar, since we have so many more examples to choose from. What, I ask you, is particularly yielding about Moiraine, or Siuan? Or Elaida, for that matter? How about Nynaeve? I mean, it makes sense, given her personality, that she would have a block around channeling. But rather than that block being overcome only in moments when she can convince herself to relax and let go of her need for defensive control over everything, it is overcome only by her anger and rage. That sounds to me like a technique that would be far more effective with saidin.
The obvious connotation between concepts of yielding and subduing respectively is an uncomfortably physical one, referencing traditional ideas of heteronormative sex, and the concept really isnt born out in any other way within the narrative. It would have made a lot more sense for ones access to saidin and saidar to have to do with temperament: People who prefer to work more calmly and sedately, people who are open and empathetic and calm, are channelers of saidar, while those who are bold to the point of brashness, who prefer big deeds and feats of strength and daring, are channelers of saidin. If you remove the gendered element from these categories, it actually gives you a lot of room to play with character types, with how channelers work together and what sorts of strategies different types of people employ. Instead, Jordan has written himself into a bit of a corner, presenting us with a host of fierce, stubborn, brilliant female characters and then either ignoring or finding ways around the assertions about their character that his own world-building is making.
The Five Powers present a similar problem. When we were first introduced to them I thought they were merely a human concept, a way of categorizing what you can do with the One Power. But given what we have seen of channeling and flows now, it seems they are actually alike to the classical elements, they are the base components that are being manipulated by channelers. This also feels a bit simplistic, but perhaps that is because the greater understanding of things like atomic particles have been lost to the Aes Sedai of Rands time. I appreciate how the gendered lines are blurred a little heremen are generally better with Fire and Earth and women with Air and Water, but not always. (Shout out to Moiraine who primarily uses Earth and Fire, at least as far as the first four books, and to Egwenes impressive skill with Earth). Im curious how all five elements are equally manipulatable by saidin and saidar; the difference seems to lie solely in the strength and natural tendency of the channeler. If were going to mark saidin and saidar as being two halves of the substance that makes up all of creation, how is it that any part of creation can be touched and manipulated by only one half of that whole?
The narrative does address this to an extent: More than one character has spoken about how the feats of channeling that can be achieved by men and women working together are far greater than either gender can accomplish alone, and I think that might be one of my favorite concepts in regards to channeling. With the taint on saidin and the subsequent gentling of all male channelers, its hard to say what this teamwork really looked like, and I hope we get to see our Emonds Fielders figuring some of these things out going forward.
I think what rankles me most about the binary structure of the One Power is the fact that Jordan has some truly complex ideas for the makeup of reality in The Wheel of Time. Take the mirror worlds, for instance, in which all the choices of ones life are reflected in other realities in which a different choice was made. The Aes Sedai only know a very little about these worlds, but they appear to be only echoes of the real world, and there are some that are quite close to Rands reality while others are much farther away, and much more different. This idea, that every choice might be played out to each possible conclusion, resembles the theory of daughter universes, developed from the observation of how subatomic particles behave. Rather than just one outcome to an event, there is, in fact, every outcome, reflected in multiple realities.
There appears to be a distinct difference between the mirror worlds and parallel worlds, and I love the way Jordan is exploring these ideas. There is also much I love about the One Power. But the oversimplified and binary nature of it hampers complex storytelling in many places, especially when it comes to character building. Jordan even goes so far as to reinforce this binary throughout the different cultures he creates, which are quite culturally varied and yet seem to more or less have the same ideas about men and women, which matches, and makes impossible to escape, what the natures of saidin and saidar imply about gender.
After seeing what Jordan can do with mirror worlds and Telaranrhiod, I wish the concepts of quantum mechanics were brought out a little more fully in other aspects of world-building. Quantum mechanics, after all, defies neat categorization, boxes and labels. And it definitely defies a binary.
Sylas K Barrett is not a scientist, but was inspired to learn just a little bit more about Quantum Mechanics after seeing this video from Amrou Al-Kadhi on quantum physics and queer identity!
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Physicists witness time crystals interacting for the first time ever – New Atlas
Posted: at 1:13 am
Were quickly learning more about time crystals, strange phases of matter that appear to break time-translation symmetry something that was thought impossible until recently. Now scientists have observed two time crystals interacting for the first time, which could be the first step towards using them for practical applications like quantum computing.
Regular crystals are defined by their highly-ordered atomic structures in a sense, their atoms repeat through space. But could there also be crystals that repeat through time? That was the hypothesis put forward in 2012 by Nobel Laureate Frank Wilczek, and in 2016 these time crystals were created in the lab for the first time.
Time crystals have the bizarre ability to repeat patterns of motion through time, even when theres no external force driving them. The weirdness is best illustrated as a bowl of Jell-O if you tap the dessert, youd expect it to jiggle for a few seconds then stop, until you tap it again. But time crystals might take a few seconds to start jiggling, then stop, then start again on their own, repeating indefinitely. They might not make sense to our everyday experience of physics, but believe it or not they arent violating any laws of thermodynamics.
Scientists continue to investigate these weird structures, and now a team has made an important breakthrough observing two time crystals interacting. The researchers, from Yale, Lancaster and Aalto Universities, as well as Royal Holloway London, started with a superfluid form of helium-3.
Aalto University/Mikko Raskinen
The team cooled the helium-3 down to a hair above absolute zero (-273.15 C, or -459.67 F), then created two time crystals in the superfluid and let them touch. They observed the two time crystals passing particles back and forth between each other, leading their motions into an alternating pattern. This is a sign of a phenomenon called the Josephson effect.
Controlling the interaction of two time crystals is a major achievement, says Samuli Autti, lead author of the new study. Before this, nobody had observed two time crystals in the same system, let alone seen them interact. Controlled interactions are the number one item on the wish list of anyone looking to harness a time crystal for practical applications, such as quantum information processing.
Currently, the main problem with quantum computers is that its hard for the information to remain coherent, or stable, for long periods. But time crystals do so with relative ease, meaning they could help us overcome these issues. They could also lead to advances in more precise timekeeping, such as atomic clocks, and the systems that rely on them, like GPS.
The research was published in the journal Nature Materials.
Source: Lancaster University
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Californias proposal for its own CFPB is back on track – HousingWire
Posted: at 1:12 am
California is planning to strengthen its regulation of financial companies by replicating on a state level what the Consumer Financial Protection Bureau was created to be.
The state legislature has revived an idea Gov. Gavin Newsom first proposed in January to remake the California Department of Business Oversight into a beefed-up regulator of fintech companies, credit reporting agencies, debt collection forms and others firms.
The agency, which would be renamed the Department of Financial Protection and Innovation, DFPI, would see its powers expanded to address abusive acts and practices, going beyond its current goal of preventing unfair and deceptive acts and practices. The new agency would be fashioned after the federal CFPB that was created as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
The proposal to create a mini-CFPB in the state was added to a pending budget bill after being dropped in June. California is the most populous state in the nation, home to 12% of the Americans. If the state was an independent nation, its economy would be the fifth-largest in the world.
The legislature likely will act on this proposal in the coming weeks, according to staff comments in an agenda for a state Senate hearing held last week.
The DFPI is designed to provide consumers greater protection from predatory practices while facilitating innovation and ensuring a level playing field for all companies operating responsibly in California, according to the description in Newsoms proposal. It seeks to cement Californias consumer protection leadership amidst a consumer-protection retreat by federal agencies, including the Consumer Financial Protection Bureau.
Enforcement actions at the federal CFPB plummeted after President Donald Trump took office in 2017, according to a story last year in the Wall Street Journal. The number of new enforcement investigations fell to 15 in fiscal 2018, from 63 in fiscal 2017 and 70 in fiscal 2016, the CFPB said in response to a Freedom of Information Act request from the Journal.
Beth Mills, a spokeswoman for the California Bankers Association, said in an interview with NPR that she supports the creation of the new state agency because it would mean better policing of online lenders who compete with banks but operate with looser oversight.
We would welcome greater regulation on them to make sure that were operating under the same rules, Mills said, while proposing banks that already are heavily regulated by the Federal Reserve and the Office of the Comptroller of the Currency be exempt from the new bill.
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Californias proposal for its own CFPB is back on track - HousingWire
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KAY COLES JAMES: Why Reagans call to conservatism needs to be heard again today – SCNow
Posted: at 1:12 am
For example, he spoke of how government programs to eradicate poverty hadnt solved much of anything: If government planning and welfare had the answer and theyve had almost 30 years of it shouldnt they be telling us about the decline each year in the number of people needing help?
In recent years, weve spent about a trillion dollars a year on federal welfare programs. Divide that up among the 40 million or so Americans considered poor, and we could have given a family of four $100,000 a year. Yet, the poverty rate has stayed about the same as it was when the War on Poverty began in 1964. Tragically, most welfare programs have only been successful at creating perpetual reliance on government.
Reagan also pointed out that, despite the fact that Washington was collecting unprecedented amounts of money from taxpayers in 1964, it never seemed to be enough: Today, 37 cents of every dollar earned in this country is the tax collectors share, and yet our government continues to spend $17 million a day more than the government takes in.
Washingtons poor fiscal restraint has only gotten worse. In 2019, the government spent $2.7 billion a day more than it took in, and currently, the national debt exceeds $80,000 for every man, woman and child.
Yet today, despite years of failures, just like back then, the left continues to promote policies that usurp our freedom, harm our economy, endanger our security and create an unhealthy dependence on government.
Today, theyre proposing government-run single-payer health care and cutting our military when those who want to do us harm are increasing theirs. They want to defund the police across America, putting out the neighborhood welcome mat for criminals everywhere. Theyve proposed climate legislation that would eliminate gas-powered cars, ground all airplanes, and forbid beef consumption. Their proposals would guarantee every person in America access to free health care, free college, and even a free paycheck paid for with huge tax increases.
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COVID-19 And The Presidential Election Impacting Economic Outlook – WAMC
Posted: at 1:12 am
While not the only factors, two of the major forces impacting the economy are the coronavirus and who will be sitting in the White House come January. With science and politics meeting, economist Hugh Johnson, the chairman and chief investment officer of Hugh Johnson Advisors in Albany, is predicting that the current V-shaped economic recovery will slow.
Johnson spoke with WAMC's Jim Levulis about his latest economic outlook.
Johnson: When you take a look at what happened in March and April, and of course we dug an extraordinarily deep hole in March and April, and it showed up in the second quarter gross domestic product numbers, which was a 32% decline in gross domestic product, by far the largest or steepest decline we've ever had in our history. So we dug a deep hole. And initially, there was a very strong sort of a recovery from those very deep numbers, those very poor numbers, and that we saw in May and June, particularly in the employment numbers in one month, we saw 4.8 million jobs added or recovered into payrolls. And so that was all really good news. But I think that, you know, since that time quite frankly, that everybody's been a little bit worried about a number of things. First of all, the stock market has come very far very fast, and they're a little worried about that. The second thing that most everybody is worried about is that we're going to have a sort of a replay of March and April that we're going to roll back some of the reopenings and as a result, the recovery that we had, and again, May and June being very strong with slowed down. So the recovery in May in June was very steep and V-shaped. And after we get that we get into something like July, August, the numbers we've seen so far. And it looks like there's still a recovery going on. But it's a little bit more gentle. So what does it mean? It really means good news, in the sense that we're still recovering, maybe not such good news in the sense that we're not recovering as fast as we did. And it's going to take some time. And I mean time until 2022, to get back to the levels of employment and economic growth or output that we saw at the end of 2019. So positive growth, but slow growth. And that's good news for I think the markets but maybe it's just not as exciting, shall we say as when you get something that's V-shaped.
Levulis: The S&P 500 has been hovering around its record high, which was set before the pandemic hit. Your outlook predicts S&P 500 earnings will increase nearly 30% in 2021. That's after declining 23% overall in 2020. What's pushing that index to be able to recoup its losses relatively quickly?
Well, the big thing that is pushing the index is that investors know that what's where we are doesn't count. And where we are, of course, is in 2020, in the middle of the pandemic, in the middle of the kind of the bad times for the economy, and earnings are going to be down 23%, but nobody's really looking at 2020. Now we are all looking are focused on 2021 and asking the question, what are the earnings going to look like, not only in 2021, but also 2022. And, as you say, that's a positive growth of 30% in earnings for the S&P 500. That's really good news and that's very positive news. And, there's no expectation of anything that's going to get in the way of that. In other words, we're not going to see interest rates rise, the Federal Reserve is likely to keep interest rates right around current levels, which means a supportive of current valuations in the market. So I think really what we're saying is that look, you know, the Federal Reserve interest rates will be very benign, they're not going to get in the way, this was all going to be up to earnings. And the earnings outlook is very positive for 2021. And a little less positive, but still positive for 2022. And that's what investors are focused on. And that's why they're somewhat optimistic. It looks like a new bull market. And the one thing I want everybody to remember is bull markets are not short.they last on average about 63 months. Last one we had was my gosh, was 130 months, but generally speaking around 60 to 65 months. That's a long way from here. We're only two months into this. So I think investors are saying, look, it's a reason to be upbeat about things or prospects not downbeat.
And sticking with Wall Street here, your outlook seeks to compare the current stock market with the dot.com bubble of 1999-2000. Are you seeing similarities between now and then?
Well, I'm seeing similarities in the sense that one of the things you focus on is the level of valuation. And we had, you know, we've got price earnings multiples of about 22 now. We had higher price earnings multiples at that time. But one thing we've got now that was really different from dot.com is that we've got extremely low interest rates, and we didn't have very low interest rates during the dot.com bubble. And so it was hard to justify those valuations, hard to justify those very high price earnings ratios in the dot.com bubble of 1998 through 2002. This time, you can justify the high price earnings ratios and I draw that comparison mainly just to show you to make a statement and the statement is, you know, you just shouldn't worry about this being a bubble like the dot.com bubble, you shouldn't worry about valuations now, as you should have worried in 1998 through 2002. So it really takes that big worry about valuation kind of off the board. You kind of worry about it, but you don't worry as intensely as you should have worried back in 1998. That's the reason I say it.
And from Wall Street to Pennsylvania Avenue, we are less than three months away from the presidential election, if former Vice President Joe Biden were to win the White House, how might that impact the economy?
That's really a great question. And I think you're going to have to say, you know, the truth is regardless of who wins I'm not sure it's going to very much affect the economy. I don't think we're going to go into a tailspin as a result of it. The thing you worry about, of course, is that look, we're spending a lot of money right now on the pandemic to try to get ourselves out of this crisis. And that's going to show up in a very big increase in the deficit. It's going to go for about 4.5 percent of gross domestic product up to as much as 18% of gross domestic product, when we've seen that historically, it's ushered in a period of sort of fiscal restraint, and that means higher taxes and less spending. I think if we're talking about sort of a Democratic victory, which right now that looks like a real possibility, maybe more than just a possibility, but I think we're really saying, yeah, higher taxes, higher corporate taxes, higher taxes on the wealthy, less sort of freedom of regulation, there has been a very long period of unregulated anti-trust, anti-trust is going to be much tighter and tougher during a Democratic victory, but at the same time I think you're going to see all that offset by ongoing very strong spending, lots and lots of spending, particularly on things like infrastructure. And I think that the bottom line is that yeah, we'll get the restraint of hierarchical but we'll also get the good news, I think it's good news in the form of maybe ongoing increased spending on things like infrastructure that are very important, as well as all sorts of things like, like healthcare. So, quite frankly, I don't think it's going to have that much of an impact on the economy, but it's going to really change the way things are done in Washington. Higher taxes on the rich, higher taxes on corporations, we're going to roll back that corporate tax from 21 to 28%. It's almost a guarantee. So things will change.
Stepping back away from current events for a secondhistorically, why are the economic predictions for a Democratic White House worse off than say, a Republican presidency? I know you mentioned high taxes, more regulation, that sort of thing. historically has that held true, those predictions?
It really hasn't held true. It has certainly has held true that we've had the predictions that the Democrats bad for the stock market and bed for the economy. But when you take a look at the outcomes, whether it's a Republican or a Democratic presidency, really, quite frankly, the outcomes have been mixed. In other words, they've been very good for Democrats and they've been very good for Republicans. So it really depends on which Republican it is, which Democrat it is, and what their policies really are, because their policies will determine the outcome. And right now, when we look ahead towards 2021-22, you have to be a little bit worried because those deficits are so high, you have to be a little worried that that's going to usher in not only higher taxes, but less spending. But when we take a really close look at what Joe Biden has said for the Democrats, he's really talking about not lower spending, but a little bit higher spending. But in either case, I think it's really a little bit up in the air and yes, you should be worried. Yes, you should be worried about fiscal restraint, but I think it's a little bit too early to say that the economy is going to somehow go into a tailspin in 2021-2022. So I think we got to watch very carefully for what the policies are going to be the incoming administration, either the existing one continues, or the new administration comes in with new policies, you got to watch them very carefully and try to measure what the outcome might be. It really makes a difference.
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‘COVID has reduced to tatters the illusion of American exceptionalism,’ says anthropologist in Rolling Stone op-ed – MarketWatch
Posted: at 1:12 am
In a dark season of pestilence, COVID has reduced to tatters the illusion of American exceptionalism. At the height of the crisis, with more than 2,000 dying each day, Americans found themselves members of a failed state, ruled by a dysfunctional and incompetent government largely responsible for death rates that added a tragic coda to Americas claim to supremacy in the world.
Thats Wade Davis in an op-ed titled The Unraveling of America in Rolling Stone magazine published Aug. 6 that paints a grim picture of the current state of the U.S.
Wade Davis is an anthropologist at the University of British Columbia and his post in Rolling Stone has racked up millions of page views since its publication earlier this month. For some readers it drew comparisons with an article written by Matt Taibbi in 2010 titled the The Great American Bubble Machine centered on Goldman Sachs as a vampire squid wrapped around the face of humanity.
In Daviss article, he suggests that the days of U.S. dominance may be undone by the COVID-19 pandemic that has infected nearly 5.5 million Americans, or more than a quarter of the 21 million global total, thus far, according to data compiled by Johns Hopkins University.
The critique from the U.S.s sister country to the north may be a hard pill for some to swallow, as Davis says that Americas obsession with individual rights and liberty at the expense of community has been a key point of weakness for the nation.
More than any other country, the United States in the post-war era lionized the individual at the expense of community and family, he wrote. What was gained in terms of mobility and personal freedom came at the expense of common purpose.
In a CBC article Davis said that he isnt taking cheap shots at the U.S., which is an ally and trading partner with Canada, but he believes his essay was an attempt to encourage widespread introspection.
I think of it like a family when you have to do an intervention. The first step is to hold a mirror to the face of the individual to let them know what has become of themselves. Thats the first step on the path to rehabilitation, Davis was quoted as saying by the CBC.
Davis isnt the only one questioning the outlook for the global superpower.
Earlier this summer, Stephen Roach, Yale University senior fellow and former Morgan Stanley Asia chairman, warned that the U.S. dollar DXY, +0.07% may face a challenge to its place as the reserve currency of the world.
The prominent economist told MarketWatch in an interview that the dollars decline could occur at warp speed and that the era of U.S. hegemony may be coming to an end, citing increases in the nations fiscal deficit and dwindling savings.
To be sure, the list of those who have inaccurately written about the demise of the U.S. and its leadership place in the world is lengthy.
Like Davis, Roach said that responses to his article were very visceral.
Davis says his criticism has less to do with the dominance of the U.S. currency or with the nations leadership in the White House, but he points out that growing disparities between haves and have-nots may be the nations undoing.
At the root of this transformation and decline lies an ever-widening chasm between Americans who have and those who have little or nothing, Davis wrote. The elite one percent of Americans control $30 trillion of assets, while the bottom half have more debt than assets.
Economic disparities exist in all nations, creating a tension that can be as disruptive as the inequities are unjust, he continued.
However, What every prosperous and successful democracy deems to be fundamental rights universal health care, equal access to quality public education, a social safety net for the weak, elderly, and infirmed America dismisses as socialist indulgences, as if so many signs of weakness.
His warning comes as the S&P 500 stock index carves out its first record since Feb. 19, marking an unofficial end to a bear market that gripped the benchmark SPX, +0.23% and the broader market, including the Dow Jones Industrial Average DJIA, -0.24% and the Nasdaq Composite Index COMP, +0.72%.
However, those new highs for the broad-market stock benchmark may only highlight the fact that the U.S. economy, and the economy for much of the developed world, remains in tatters amid the COVID-19 pandemic.
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Attack of the Instagram clones – We Live Security
Posted: at 1:12 am
Could your social media account be spoofed, why would anybody do it, and what can you do to avoid having a doppelgnger?
Social media has some great advantages, such as keeping in touch with loved ones and sharing experiences with friends, but like almost anything on the internet, it can be easily abused. With some creative thinking and a little luck on the side, it is possible for it to be used as a vehicle to steal money from unwitting victims.
I had heard stories of account cloning, but I always assumed people would check with the account holder via another form of communication or at least think twice before sending money to an account they only recently connected with. Sadly, people are still being caught out with this scam and I want to help reach those who may be unaware of how the con works.
As with all my ways of getting a security message across, I needed to conduct a little experiment to test this scam in the real world and see first-hand the ease with which it can work. Its easier to get your message across about the risks when theyre shown a real example of the scam working and then they want to better protect their accounts and themselves. All I needed was a volunteer who would be willing to allow me to set up a cloned account and then attempt to dupe their friends. However, wow am I quickly running out of friends to con! I looked far and wide, but no one wanted to play ball on this one.
Therefore, having failed to find someone happy for me to clone their account for the test, I decided I would have to clone my own Instagram. I follow nearly 900 accounts on Instagram and I am usually posting the same old seascape photos or pictures of me prancing around at the beach to my 1,400 followers. I decided to make a new account on my spare phone and took four screenshot copies rather than uploading the originals to make it as authentic as possible just like someone else would have done it. It was easy to duplicate these images but the only thing that could have been a difficulty is that when copying the profile picture, it would have needed to have been posted in the feed to make a quality replica.
Here is a screenshot of my real Instagram account, @jakemooreuk.
And here is my cloned Instagram account, @jakemoore_uk. Notice the change in bio to include NEW ACCOUNT AFTER LOSING ACCESS TO ORIGINAL.
I decided to follow 30 of my friends to see if they would follow me back and let the experiment begin. Ten were private accounts, therefore they required approval, and 20 were public accounts.
Within moments I had three private account owners accept my request and two followed me back. This was a good start. I was expecting someone to contact me via a different communication method and question this request, particularly due to my line of work and the embarrassment that I could have been subjected to, understanding that even I am susceptible to an account compromise!
But no one did. In fact, the numbers increased. Thirteen accounts followed me back on the same day and by the evening I decided to message these people and see what sort of responses I would receive.
Initially, I mentioned the account compromise and thanked them for accepting the new follow request and then went in with a request to catch up.
This received 8 replies from my 13 new followers. The goal of the test was to create a good enough back story to quickly request money without raising suspicion. This would be particularly rare if the contact had been unsolicited but when the victims believe they know who they are talking to they are far more likely to part with their cash.
One of my contacts replied with a hopeful message. She clearly felt bad for me and agreed how frustrating it would be.
Social engineering at its best requires believability, confidence and a little luck to make it all plausible and make sense. Simply asking people to wire money to a random bank account in the first message would have most likely raised the alarm bells, so I planned to divert the conversation to discuss my cashflow situation as soon as the thread allowed me.
Prior to the test, I created a new PayPal account in my name to make it seem more legitimate than a bank account number, which is similar to what a fraudster would do with a similar-sounding email address as my name in the PayPal account. I chose this as it was available jakemooreuk@xxxxxx.com.
Here is how the conversation went:
What I found most disconcerting was how quickly it all escalated and I was able to trick the target into thinking it was genuine with no extra checks required. I was even able to make her be the one to offer to help me which was a nice little twist. This is usually a clever technique used by professional social engineers reversing the psychology to avoid the request of the money.
NB: I was able to get in touch with my contact before she deposited any money into this new PayPal account, but it proved one simple thing this scam is easy to carry out when such a mass of information is offered online. All that is really needed is an account to clone and a set of contacts.
It is vital to try to reduce the amount of personal information and photos of ourselves online where possible. Although this is a huge task, it is important to teach the next generation of social media users to try to limit the amount of information that is posted online before it is out in the open forever. This scam wont work if accounts are private.
Saying that, however, many people whose accounts are private still allow people they do not necessarily know to follow them due to minimal vetting. It is extremely important to think about what you post as well as accepting only followers you dont mind knowing more about you. Being completely public has the potential of creating dangers such as this.
Users should also be reminded to never take anything at face value when money is requested. Asking for validation in another form of communication before any money is sent to a new payee is paramount. If the victim had called the real me, then scammer me would have been foiled.
Had that happened, however, I would have just abandoned that attempt and moved on to the other seven replies I received, and targeted them instead.
This scam is not solely limited to Instagram I have also seen this occur on Facebook, Twitter and LinkedIn so make sure you keep an eye out for cloned accounts. Report these accounts and make the genuine account holder aware.
Send in the clones: Facebook cloning revisited
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Artificial Intelligence Applications within Retail in 2020 – ReadWrite
Posted: at 1:12 am
Artificial intelligence and its applications have surely revolutionized the sectors pushing them forward in a new direction. Its application isnt limited to the start of product development but continues post-launch and customer interaction.
One of the sectors that are reaping the benefits of AI integration is the retail industry. However, there are still many questions that are being thrown out there. From what AI-technology or application has proven to be the most beneficial in retail to which innovations have the potential to change the retail game?
We need to keep in mind that artificial intelligence has not been perfected and is still in the stages of experimentation. Some results have proven to be positive and progressive, while others a complete failure.
Having said this, from 2013 to 2018, AI startups have raised around $1.8 billion according to CB insights. These are impressive numbers and the credit can be given to Amazon which changes the perspective of AI integration within retail.
In a nutshell: AI in retail can be explained as a self-learning technology, that with the adequate data, only improves the processes further through smart prediction and much more.
AI solutions are still in the process of growing and progressing. However, there are certain applications within retail that have proven to be fruitful not just in terms of the value it provides as a service but the benefits businesses reap afterward.
What are the top of the line applications of AI in retail? Lets find out.
With digitization, much of the work-load has been automated and streamlined. Now, with the COVID wave placing human contact as harmful, cashier-less stores are an idea that is very much on the table. This idea of lowering the number of human employees working on a store and being replaced by AI-powered robots is not just a concept of the movies anymore.
Amazon is already on the case with Amazon AI introducing stores that are check-out free. You must have heard about Amazon Go and Just Walk Out technology where the items being placed within your trolley are being examined and kept track of, so when you simply walk out of the shop, the Amazon account takes the money. Pretty interesting, right?
AI and IoT play a great role in creating this cashier-less store experience, relieving stores from having expensive operation expenses. With technology like Amazon Go, human staff members are reduced to merely six or so, depending on the size of the store.
The rise of the chatbots was possible due to AI integration, making them capable of conversing in a human-like manner. Moreover, with their ability to understand the query posed by the visitor, they can analyze and provide adequate assistance accordingly.
Safe to say, AI chatbots have elevated customer service, searching, sending notifications, and suggesting relevant products all by themselves. These AI chatbots work wonders in retail as there are so many queries that are lined up mostly filled with product related questions. In addition, they also learn the buying behavior of the customer and suggest products that would match their search and buying intent.
Chatbots are the present and future of retail helping customers navigate through online stores and increasing the revenue of businesses in return.
Voice search is catching up with 31% of smartphone users globally using voice search at least once a week. While, in the year 2020, it is projected to grow to 50%. With Alexa and others, customers can simply ask for the desired product without having to type and visually invest in the process.
Voice search is definitely one of the demanded features in any software solution and software development companies (koderlabs dot com) would incorporate voice and text search to maximize the convenience.
Visual search is a term or technology not too familiar as of yet. However, this AI-powered system enables customers to upload images and find products similar to certain aspects of those uploaded images; like based on color, shapes, and even patterns.
AI coupled with image recognition technology is marvelous and can help significantly in the realm of retail. Imagine wanting a similar dress and just uploading its picture, you get suggestions of places either selling the same or something similar. You then can compare the price difference and go for the one that suits your best.
AI can detect the mood of your customers and provide you with valuable feedback that will allow your representatives to give assistance just in time. Take Walmart as an example. The retail giant has cameras installed at each checkout lane that detects their mood.
If a customer seems annoyed, they would immediately approach and try to help. So, with AI and facial recognition technology, stores can build strong relationships with their customers and ensure their satisfaction.
AI in the retail supply chain can help retailers dodge poor execution and management that leads to major losses. With AI, calculating the demand for a particular product through analyzing the data that includes the history of sales, promotions, location, trends, and various other metrics allow retail stores to make a better future decision.
AI can predict the demand for that certain product and allow you to order just the right amount without having to deal with leftovers or shortage of it.
Since we are currently facing COVID that has placed the necessity of an online-smart-world, AI can predict through the data received from either the websites or mobile apps. Either way, the supply chain is effectively managed and processed systematically.
With the usage of machine learning, the retail industry can easily classify millions of items from various sellers with the right category. For instance, sellers can upload the picture of their product, and machine learning will identify it and classify it accordingly.
Clasification helps automate the mundane and time-consuming task and can be done in a few minutes with the help of AI.
What more is that with such smart classification, customers are able to find the right products under the categories of their choosing.
The retail executives survey conducted by Capgemini at AI in Retail Conference entails that the AI application of technology in retail could potentially save up to $340 billion each year for the industry till 2020. In addition, nearly 80% of these savings will come from supply chain management and return as AI will improve these processes by a large margin.
The global market for AI in retail is projected to grow over $5 million by the year 2022.
Artificial intelligence and Machine Learning-powered software solutions can really change the game for retail, especially amid the pandemic. Not only AI facilitates automation but provides a better insight into businesses by predictive analysis and reporting.
On the customer front, AI-powered chatbots and cashier-less stores provides convenience and futuristic shopping experience with improved customer service.
Although the pandemic has slowed down much of the progress; still, we can see considerable growth in AI-powered solutions geared to improve the retail industry and prep it for the times ahead.
Zubair is a digital enthusiast who loves to write on various trends, including Tech, Software Development, AI, and Personal Development. He is a passionate blogger and loves to read and write. He currently works at Unique Software Development, a custom software development company in Dallas that offers top-notch software development services to clients across the globe.
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