Word: fatalism
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Swimmers at Australian beaches are usually reassured by statistics that indicate they are more likely to be struck by lightning than chomped by a shark. But after three non-fatal shark attacks in the country in less than 48 hours and a deadly one last month, some are wondering if the odds have changed - and whether Australia's efforts to protect sharks are to blame. (Read "When Adventure Tourism Kills...
Suppose some investors decide to withdraw their money from a hedge fund. The fund must liquidate the appropriate amount of its assets to pay these investors. Say the fund holds large positions in illiquid assets. The fund cannot immediately sell these assets, except at a fatal loss, so it would sell its more liquid assets. Given that the fund is more likely to inflate its estimation of the illiquid assets, it would seem that investors who withdraw early get the better returns over that time period. Sounds a bit like a Ponzi scheme, right...
...Falling Off the Wagon Isn't Fatal...
Ultimately, ordinary Greeks will make their political judgment based on both the outbreak of anarchist violence and the actions of the government. Thus far, apart from the still unclear circumstances of the Dec. 6 fatal shooting, the police have mostly taken defensive tactics. But the protests, which harken back to the anti-globalization mix of violence and civil disobedience of Seattle in 1999 and Genoa in 2001, don't appear to be ending any time soon. Protesters say the use of online social networking sites like Facebook and MySpace have helped organize street demonstrations, as well as the more high...
...young men with hoods pulled to their eyebrows and scarves around their mouths stood behind Syntagma Square, the main square of Athens not far from the Greek parliament. The violence had just been ratcheted up in the continuing protests that have rocked Greece since the fatal police shooting of Alexandros Grigoropoulos, 15, on Dec. 6. No one is certain yet why the riots continue to flare up. And, on Thursday, the two youths approached by TIME were not providing any clues either. Asked to explain why they were waging their violent campaign against the police the pair answered with...