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Posts Tagged ‘Nellie Bly

“Exorbitant privilege”*…

Economic history books will commemorate the era we currently live in as the second wave of financial globalization, following the first wave during the Classical Gold Standard period. Our era is characterized by an unprecedented expansion of global financial flows. Partly, these flows form the counterpart to global value chains and the globalization of trade in goods and services. In the last few decades, however, they have been increasingly decoupled from the real sector. The financial infrastructure that enables this expansion is the international monetary system…

In its current shape, [the international monetary system] has a hierarchical structure with the US-Dollar (USD) at the top and various other monetary areas forming a multilayered periphery to it. A key feature of the system is the creation of USD offshore – a feature that in the 1950s and 60s developed in co-evolution with the Bretton Woods System and in the 1970s replaced it. Since the 2007–9 Financial Crisis, this ‘Offshore US-Dollar System’ has been backstopped by the Federal Reserve’s network of swap lines which are extended to other key central banks. This systemic evolution may continue in the decades to come, but other systemic arrangements are possible as well and have historical precedents. This article discusses four trajectories that would lead to different setups of the international monetary system by 2040, taking into account how its hierarchical structure and the role of offshore credit money creation may evolve. In addition to a continuation of USD hegemony, we present the emergence of competing monetary blocs, the formation of an international monetary federation and the disintegration into an international monetary anarchy…

Americans tend to take the global primacy of the U.S. Dollar for granted (indeed, often complaining about the current account imbalances to which huge quantities of off-shore dollars lead). But there’s no mistaking that this system has been been hugely advantageous to the U.S. Yet, as Steffen Murau (@steffenmurau) explains, it may not last: “The evolution of the Offshore US-Dollar System: past, present and four possible futures.”

See also Mernau’s “International Monetary System” (from whence, the image above), and Ben Bernanke’s “The dollar’s international role: An ‘exorbitant privilege’?

* Valéry Giscard d’Estaing (then the French Minister of Finance; later French President), referring to the benefit that accrues to the U.S. as a result of the U.S. Dollar being the world’s reserve currency

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As we count our blessings, we might recall that it was on this date in 1890 that journalist Nellie Bly completed her 72-day trip around the world.

In 1888, Bly suggested to her editor at the New York World that she take a trip around the world, attempting to turn the fictional Around the World in Eighty Days into fact for the first time.  A year later, at 9:40 a.m. on November 14, 1889, with two days’ notice, she boarded the steamer Augusta Victoria, and began her 24,899-mile journey.

She brought with her the dress she was wearing, a sturdy overcoat, several changes of underwear, and a small travel bag carrying her toiletry essentials. She carried most of her money (£200 in English bank notes and gold in total as well as some American currency) in a bag tied around her neck.

Bly traveled through England, France (where she met Jules Verne in Amiens), Brindisi, the Suez Canal, Colombo (Ceylon), the Straits Settlements of Penang and Singapore, Hong Kong, and Japan.  Just over seventy-two days after her departure from Hoboken, having used steamships and existing railway lines, Bly was back in New York; she beat Phileas Fogg’s time by almost 8 days.

Nellie Bly, in a publicity photo for her around-the-world voyage. Caption on the original photo reads: “Nellie Bly, The New York World‘s correspondent who placed a girdle round the earth in 72 days, 6 hours, and 11 minutes.”

 source

“Being a woman is a terribly difficult trade since it consists principally of dealings with men”*…

 

Woman Stands in Empty Classroom with Note

 

Alter the status of women and you have affected all the most intimate and significant nodes of life: the relation of wife to husband, mother to child, sister to sibling, daughter to parents, worker to coworkers, and employee to employer (or vice versa). This change in women’s standing that happened what seems like yesterday, and is still happening today at an accelerated rate, is the most profound revolution that can take place in a society. It takes and gives energy to all the other reforms of our time. After all, the civil rights movement involves black women, the LGBTQ movement concerns lesbians, the disability rights movement affects disabled women, health care reforms implicate women care-givers and the objects of their care. Raise any part of our society to a more just condition and justice for women is centrally at issue. It is the reform of all reforms and the basic measure of our progress…

The inestimable Gary Wills recounts “My Education in the Patriarchy.”

For a powerful way to address this opportunity globally, consider Landesa.

* Joseph Conrad, Chance

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As we think inclusively, we might recall that it was on this date in 1890 that journalist Nellie Bly began her 72-day trip around the world.

In 1888, Bly suggested to her editor at the New York World that she take a trip around the world, attempting to turn the fictional Around the World in Eighty Days into fact for the first time.  A year later, at 9:40 a.m. on November 14, 1889, with two days’ notice, she boarded the steamer Augusta Victoria, and began her 24,899-mile journey.

She brought with her the dress she was wearing, a sturdy overcoat, several changes of underwear, and a small travel bag carrying her toiletry essentials. She carried most of her money (£200 in English bank notes and gold in total as well as some American currency) in a bag tied around her neck.

Bly traveled through England, France (where she met Jules Verne in Amiens), Brindisi, the Suez Canal, Colombo (Ceylon), the Straits Settlements of Penang and Singapore, Hong Kong, and Japan.  Just over seventy-two days after her departure from Hoboken, having used steamships and existing railway lines, Bly was back in New York; she beat Phileas Fogg‘s time by almost 8 days.

Nellie Bly, in a publicity photo for her around-the-world voyage. Caption on the original photo reads: “Nellie Bly, The New York WORLD’S correspondent who placed a girdle round the earth in 72 days, 6 hours, and 11 minutes.”

 source

 

Written by (Roughly) Daily

November 14, 2019 at 1:01 am

“Now I have a machine gun. Ho ho ho”*…

 

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Ok, enough bickering and fighting. Let’s settle this once and for all in the only way I know how – going into a topic in way too much detail.

As we prepare to enter the year 32 ADH (a.k.a. After Die Hard), the world is gripped by a constantly nagging question.

No, it’s not “Why does everyone call Hans Gruber and his gang ‘terrorists’ when they were clearly bank robbers?”

Today we’re going to use data to answer the question “Is Die Hard a Christmas movie?”

Along the way, we’re going to test Die Hard’s Christmas bona fides against all movies in US cinemas for the past thirty years, using a variety of methods…

Stephen Follows tackles a perennial poser: “Using data to determine if Die Hard is a Christmas movie.”

[Image above: source… which also weighs in on the Die Hard question.]

* Hans Gruber (Alan Rickman), reading what John McClane (Bruce Willis) had written on a dead terrorist’s shirt

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As we just say Yippie-Ki-Yay, we might recall that it was on this date that Phileas Fogg completed his circumnavigation of the globe in Jules Verne’s Around the World in Eighty Days.  (As the book was published in 1873, the putative year of the journey was 1871 or 1872.)

In 1888 American journalist Nellie Bly convinced her editor to let her attempt the feat.  She completed her round-the-world journey in 72 daysShe completed her round-the-world journey in 72 days.

220px-Verne_Tour_du_Monde

First edition of Verne’s tale

source

Your correspondent is headed into his annual Holiday hiatus; Regular service will resume on or around January 2…  Meantime, many thanks to all for reading– and Happy Holidays!

 

Written by (Roughly) Daily

December 21, 2018 at 1:01 am

“Alis volat propriis”*…

 

In exactly a week, millions will gather on couches across America (and the world) to watch the the Seahawks and the Patriots duel in Superbowl XLIX.  And on the coffee tables in front of many– if not most– of them will sit heaping mounds of (now traditional) chicken wings.  Readers may recall that, two years ago, we reported on a downturn in Super Bowl wings consumption, occasioned by rising poultry prices.  But even as chicken costs have continued to rise, consumption has recovered…

According to a National Chicken Council report released Friday, 1.25 billion wings will be consumed during Super Bowl XLIX.

The average wholesale price of chicken wings is currently $1.71 per pound, up from $1.35 per pound at the same time last year, according to the Daily Northeast Broiler/Fryer Report by the U.S. Department of Agriculture’s Agriculture Marketing Service. Wing prices hit a record high in January 2013 of $2.11 per pound.

If one laid 1.25 billion wings end-to-end, assuming and average length of 3.5 inches, they would stretch to and from CenturyLink Field in Seattle to Gillette Stadium in Foxborough, Mass., almost 28 times. The wings would also circle the Grand Canyon 120 times.

It’s enough wings to put 572 on every seat in all 32 NFL stadiums and they weigh about 5,955 times more than the poundage of the Seahawks and Patriots entire 52-man rosters combined.

Most people will buy wings from restaurants and bars, but wings sales at grocery stores also spike during Super Bowl week. Nielsen Perishables Group FreshFacts shows that fresh and prepared wings sales totaled $1.7 billion in the 52 weeks ending Nov. 29, 2014, an increase of 3.1 percent compared to a year earlier.

As far as dipping sauces go, Ranch wins out. More than half of people prefer ranch for dipping, while 42 percent prefer barbecue sauce and 36 percent prefer blue cheese.

source: Chicago Tribune

* State motto of Oregon

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As we wonder how half-time turned into the fair-ground joke that it has, we might recall that it was on this date in 1890 that journalist Nellie Bly completed her 72-day trip around the world.

In 1888, Bly suggested to her editor at the New York World that she take a trip around the world, attempting to turn the fictional Around the World in Eighty Days into fact for the first time.  A year later, at 9:40 a.m. on November 14, 1889, with two days’ notice, she boarded the steamer Augusta Victoria, and began her 24,899-mile journey.

She brought with her the dress she was wearing, a sturdy overcoat, several changes of underwear, and a small travel bag carrying her toiletry essentials. She carried most of her money (£200 in English bank notes and gold in total as well as some American currency) in a bag tied around her neck.

Bly traveled through England, France (where she met Jules Verne in Amiens), Brindisi, the Suez Canal, Colombo (Ceylon), the Straits Settlements of Penang and Singapore, Hong Kong, and Japan.  Just over seventy-two days after her departure from Hoboken, having used steamships and existing railway lines, Bly was back in New York; she beat Phileas Fogg’s time by almost 8 days.

Nellie Bly, in a publicity photo for her around-the-world voyage. Caption on the original photo reads: “Nellie Bly, The New York WORLD’S correspondent who placed a girdle round the earth in 72 days, 6 hours, and 11 minutes.”

 source

 

Written by (Roughly) Daily

January 25, 2015 at 1:01 am

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