(Roughly) Daily

Posts Tagged ‘game show

“He who controls the money supply of a nation controls the nation”*…

 

yuan1

 

In all economies, neither the amount of deposits nor the money supply hinge on national or household savings. When households and companies save, they do not alter the money supply. Banks also create deposits/money out of thin air when they buy securities from non-banks. As banks in China buy more than 80 per cent of government bonds, fiscal stimulus also leads to substantial money creation. In short, when banks engage in too much credit origination — as they have done in China — they generate a money bubble.

Over the past 10 years, Chinese banks have been on a credit and money creation binge. They have created Rmb144tn ($21tn) of new money since 2009, more than twice the amount of money supply created in the US, the eurozone and Japan combined over the same period. In total, China’s money supply stands at Rmb192tn, equivalent to $28tn. It equals the size of broad money supply in the US and the eurozone put together, yet China’s nominal GDP is only two-thirds that of the US. In a market-based economy constraints are in place, such as the scrutiny of bank shareholders and regulators, which prevent this sort of excess. In a socialist system, such constraints do not exist. Apparently, the Chinese banking system still operates in the latter.

[Emphasis added]

[image above: source]

* James A, Garfield

###

As we practice parsimony, we might recall that it was on this date in 1972 that the longest running game show on American television, The Price is Right, hosted by Bob Barker, premiered on CBS.  Originally called The New Price Is Right to distinguish it from the earlier/original version (1956–65) hosted by Bill Cullen, it proved so popular in its own right that, in June 1973, the producers decided to drop the word “New” from its title.  In 2007, Drew Carey took over from barker as host.  Now in its 47th season, The Price Is Right has aired over 8,000 episodes since its debut and is one of the longest-running network series of any sort in United States television history.

BARKER source

 

“An investment in knowledge almost always pays the best interest”*…

 

Agnes Scott

The Agnes Scott GE College Bowl team: Katherine Bell, Karen Gearreald, Malinda Snow, and Betty Butler

 

America’s anti-intellectualism can be traced through the decline in popularity of the American quiz show. Most viewers think of Jeopardy! as the peak of quizzing aspirations. But Jeopardy!, while challenging, is still geared toward the viewer, feeding the audience accessible clues and manageable categories.

Take a look at Britain’s University Challenge in comparison. The program, whose format is based on the midcentury GE College Bowl, is aggressively uncharismatic. The quiz itself is notoriously difficult, tasking contestants with identifying obscure Indian cities, deep-dive classical compositions, and even failed American vice presidential hopefuls. University Challenge is still wildly popular, anchoring a Sunday evening slot on BBC. While the college quiz bowl continues to exist in the U.S., American television stopped broadcasting the event in 1970.

It’s been said over the years that trivia skews male. The assumption is not that women are less intelligent; the assumption is that for various reasons—structural discrimination, biology, increased pressure—women aren’t as able to compete. But GE College Bowl knocked that assumption on its ass. Women’s colleges won time and again on the decadelong program, handily beating elite institutions.

Barnard College beat Notre Dame and the University of Southern California in 1959 before going on a five-game winning streak in the 1967–68 season. Bryn Mawr had its own four-game tear in ’67. Wellesley won four consecutive games in ’70. And Mount Holyoke won twice in ’66 before losing to Princeton.

And then, of course, there’s the Agnes Scott game, now legendary among quiz fans for its high stakes, for the wide gap in expectations for the two teams, and for a killer last-second comeback…

The story of the match-up between Agnes Scott and Princeton on the GE College Bowl in 1966: “The Greatest Upset in Quiz Show History.”

* Benjamin Franklin

###

As we celebrate cerebral celerity, we might send healing birthday greetings to Susan LaFlesche Picotte; she was born on this date in 1865.  A doctor and reformer in the late 19th century, she is widely acknowledged as the first Native American to earn a medical degree.  Beyond her medical practice, she campaigned for public health and for the formal, legal allotment of land to members of the Omaha tribe.

Doctor.susan.la.flesche.picotte source

 

%d bloggers like this: