Economics

Geek Out

Deep Inside Prison’s Dark And Tangled Economy

5:00AM October 28, 2011 | Brent Rose

A movie-goer’s concept of prison economy is likely that it’s a cigarette-fuelled barter system. That may be part of it, but it only scratches the surface. The truth is a violent world of sex, drugs and… postage stamps? More »


Online

World Famous Economist Paul Krugman Talks About Bitcoin

7:40AM September 8, 2011 | Adrian Covert

Nobel Prize-winnng economist and New York Times columnist Paul Krugman engages in a verbal smackdown on Bitcoin, pointing out that the cybercurrency has experienced “massive deflation” and is creating a community of Bitcoin hoarders. [NY Times]


News

Fearmongers Predict Hurricane Irene Will Cause Tens Of Billions Of Dollars Worth Of Damage

11:13PM August 26, 2011 | Adrian Covert

FiveThirtyEight’s Nate Silver ran no fewer than, I’m sure, 3.48 million simulations predicting what would happen if Hurricane Irene directly hit Manhattan at full strength. If it did, know what the end result would be? ECONOMIC RECKONING. More »


Online

The Bitcoin Is Dying. Whatever.

3:40AM August 9, 2011 | Adrian Covert

There’s no denying the rise of Bitcoin has been as amusing as it has been interesting. A quasi-anonymous, internet-spawned currency that shoots up to a price of $US32 is captivating. But the honeymoon is over and Bitcoin is falling. Fast. More »


Computing

US Government Shutting Down 40% Of Its Data Centres

1:20AM July 21, 2011 | Kwame Opam

Continuing with their spring (summer?) cleaning, the government has elected to shut down 800 of their vast collection of 2000 data centres across the country over the next four years. Officials expect the pruning to save us billions. More »


News

China Is Holding The World’s Supply Of Rare Earth Metals Hostage

4:10PM May 20, 2011 | Kelly Hodgkins

You may not care the China controls over 95 per cent of the world’s supply of rare earth metals, but you might want to. More »


Online

Twitter Can Predict The Stock Market Six Days In Advance

2:00AM October 20, 2010 | Jesus Diaz

The secret of the bull and the bear are in the bird and the whale: According to a team lead by Indiana University’s Johan Bollen, Twitter can be used to predict the stock market behaviour with an accuracy of 87.6 per cent. More »


Science

Is The Era Of Cheap Food Ending?

9:00AM September 23, 2010 | Kyle VanHemert

Many would be glad to see the Golden Arches topple for nutritional reasons, but some scientists think that with the human population growing and oil production past its peak, the era of cheap, abundant food is reaching its inevitable end. More »


The iPhone Is A Stone Cold Network Killer

3:26AM December 30, 2009 | John Herrman

Being among the first of the world’s networks to carry the iPhone practically guaranteed a flush few years. Also, apparently, network trouble. Take the UK’s O2, whose spokespeople seem to be reading from the same apologetic script as AT&T’s. More »


Two Phones And A New OS Later, Palm Is Still Haemorrhaging Money

9:27AM December 18, 2009 | John Herrman

Nobody really expected Palm to turn a profit this quarter, but this is still pretty bad: In the second quarter after the Pre’s launch, Palm lost $US85 million. This does mark an improvement, depending on how you spin the numbers. More »