Ikea’sSpanishServersCrashWhen 20,000 PeopleApplyFor 400 Jobs http://feedly.com/k/1d6vucJ A few years back, we were stunned whenwereportedthat as a result of McDonalds’ first hiring day in 2011, the company retained the services of 62,000 very qualified line cooks and other minimum wage workers. What was stunning is that one million Americans applied for these jobs, or a 6.2% success rate, or just a fraction above the 5.8% admissionrateatHarvard. … Seguir leyendo Ikea’s Spanish Servers Crash When 20,000 People Apply For 400 Jobs

BitcoinCrashes, Loses HalfOfItsValueInTwoDays http://feedly.com/k/1bq0AgK It was inevitable that a few short days after Wall Street lovingly embraced Bitcoin as their own, with analysts from BankofAmerica, Citigroupand others, not to mention the clueless momentum-chasing, peanut gallery vocally flip-flopping on the "currency" after hating it at $200 only to love it at $1200 that Bitcoin… wouldpromptlycrash. And crash it did: overnight, following previously reportednewsthatChina’sBaiduwould follow the PBOCinhaltingacceptanceof … Seguir leyendo Bitcoin Crash

ExGreekFinMinWarns "Europe’sNorth-South Divide Has Become A Time Bomb" http://feedly.com/k/1bnxH0v AuthoredbyYannosPapantoniou (Greece’sEconomy & FinanceMinister 1994 to 2001), originallypostedatProjectSyndicate, As theeurozonedebt crisis has steadilywidenedthe divide betweenEurope’sstrongernortherneconomiesandtheweaker, more debt-ladeneconomiesinthesouth (withFrance a kindof no man’slandeconomyinbetween), onequestionisoneveryone’smind: Can Europe’smonetaryunion – indeed, theEuropeanUnionitself – survive? While the eurozone’s northern members enjoy low borrowing costs and stable growth, its southern members face high borrowing costs, recession, and deep cuts in incomes and … Seguir leyendo Ex Greek FinMin Warns “Europe’s North-South Divide Has Become A Time Bomb”

Córdoba onPraxeologyandEconomics http://feedly.com/k/18fnt7J The paper below attempting to defend Misesian praxeology and show how two of its axioms can be formally written and proved will no doubt excite interest from Misesian apriorists: Michael Oliva Córdoba, “OntheFoundationsofPraxeologyandEeconomics,” 28 May 2013. http://www.philosophie.uni–hamburg.de/Team/Cordoba/Materials/oc_Foundations–PraxEcon-05-final_2013-05-28.pdf There is also an audio talk here and a forthcoming paper (Cordoba 2014). But a reading of paper reveals surprises. It appears to me that … Seguir leyendo Córdoba on Praxeology and Economics

DiminishingReturns, EnergyReturnonEnergyInvested, andCollapse http://feedly.com/k/1bNMpE8 What do diminishing returns, energyreturnonenergyinvested (EROI or EROEI), and collapse have to do with each other? Let me start by explaining the connection between Diminishing Returns and Collapse. DiminishingReturnsandCollapse We know that historically, many economies that have collapsed were ones that have hit “diminishing returns” with respect to human labor–that is, new workers added less production than existing workers were producing … Seguir leyendo Diminishing Returns, Energy Return on Energy Invested, and Collapse

Doesanybodyreallywanttosolvethismess? OntheEuropean Crisis http://feedly.com/k/18flikw Pablo G. Bortz* (Guest Blogger) It has been more than five years since Ireland had to rescue its failing banks. Almost four since the beginning of the crisis in Greece. Something similar for the explosion of the housing bubble in Spain. France is submerged in a persistent recession, like Italy. A 0.1% “growth” in a quarter is celebrated as an irrefutable … Seguir leyendo Does anybody really want to solve this mess? On the European Crisis

BitcoinSlammed As BaiduSuspendsPaymentsDueTo "Fluctuations" http://feedly.com/k/19mJpIW Bitcoin is being sold aggressively on heavy volume as this headline hits: *BAIDUSUSPENDSBITCOINPAYMENTACCEPTANCEONVALUEFLUCTUATION And the official, google-translated announcement fromtheBIDU website: This is one of the reasons Citi and BofAMLnoted as ‘disadvantages‘ and it seems Baidu agrees (for now). and as a reminder… It appears Mt.Gox has crashed trying to handle a very large sell order… and the resulting algo mess … Seguir leyendo Bitcoin Slammed As Baidu Suspends Payments Due To “Fluctuations”

Spain’sIBEX – “TheWorld’sMostOvervaluedBenchmark” | FTAlphaville http://feedly.com/k/1d4SvwO shared via http://feedly.com Seguir leyendo Spain’s IBEX – “The World’s Most Overvalued Benchmark” | FT Alphaville