Thursday, 14 August 2014

Wombats being buried alive and other news and views for Thursday 14 August

Goongerah Wombat Orphanage: Nigel showing off his new tartan pouches made by the amazing Allison Sudholz.
Goongerah Wombat Orphanage:
Nigel showing off his new tartan pouches made by the amazing Allison Sudholz.
2014-08-14_seaworld
  • Animal rights activists have drained $1.7 billion from SeaWorld’s market value since last July – “SeaWorld Entertainment has mimicked its beloved performing whale, Shamu, taking a deep dive: its stock plunged as much as 35% after the company posted ugly second-quarter results (pdf) and lowered revenue forecasts for the full year.”
  • Print Is Down, and Now Out – “Media Companies Spin Off Newspapers, to Uncertain Futures”
  • On Macroeconomic Forecasting – “Macroeconomic forecasts produced with macroeconomic models tend to be little better than intelligent guesswork. That is not an opinion – it is a fact. … The rather boring truth is that it is entirely predictable that forecasters will miss major recessions, just as it is equally predictable that each time this happens we get hundreds of articles written asking what has gone wrong with macro forecasting. The answer is always the same – nothing. Macroeconomic model based forecasts are always bad, but probably no worse than intelligent guesses.”
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