Poor People Don't Need Better Social Norms. They Need Better Social Policies. →

Now, if Brooks images that improving social norms is just a sliver of the solution, then he’s right: making poor families better off won’t erase allbehavioral differences between the wealthiest and poorest. But it would go a long way. Despite all paranoia about poor people nursing addictions and indulging themselves before spending money on necessities, programs that distribute cash to the poor have been repeatedly proven as wise investments. People who use the Supplemental Nutrition Assistance Program (SNAP), or “food stamps,” tend to make healthier food choices than those who don't use SNAP; they also tend to purchase fresh fruits and vegetables when provisions (such as small credits for buying fresh fruits and veggies) are made that account for the extra cost of cooking multi-item meals. And, as a 2005 British study found, low-income parents who are given benefits to help raise young children "increased spending on items such as children’s clothing, books, and toys, and decreased spending on alcohol and tobacco.” In other words, reducing poverty through infusions of cash appears to correct many of the behaviors poor people are regularly maligned for, including neglectful parenting and unhealthy lifestyles, bringing them more in line with the habits of the well-to-do.

Wolf Richter: The US Oil Bust Just Got Worse →

You’d think this sort of plunge in drilling activity would curtail production. Eventually it might. But for now, the industry has focused on efficiencies, improved drilling technologies, and the most productive plays. Drillers are trying to raiseproduction but with less money so that they can meet their debt payments. Thousands of wells have been drilled recently but haven’t been completed and aren’t yet producing. This is the “fracklog,” a phenomenon that has been dogging natural gas for years.

Emphasis mine.

4 Surprising Facts About Wheat and Gluten →

My main takeaway from this exhaustive report on the still-unsettled science around wheat is this: The role of wheat in our health is a complex topic—one not well illuminated by marketing efforts like the ever-burgeoning "gluten-free" one. For the 98 percent or so of people not suffering from celiac or wheat allergy, it seems wise to stick to sourdough-style bread and avoid foods laden with additives like inulin, high-fructose corn syrup, and vital wheat gluten.

Russia’s Budget Deficit More Than Doubles in a Month →

The country’s budget deficit rose to 10.5% of gross domestic product in February from 4.2% in January, as revenues contracted even as expenditures were slightly reduced.

Russia’s revenues were hit by lower prices of oil, one of the country’s key exports, along with shrinking revenues from collection of taxes, such as value added tax, according to Vladimir Kolychev, chief economist at VTB Capital.

A faster-than-expected spending of military expenses exacerbated the problem, Mr. Kolychev said. This could be a temporary development and the budget deficit is likely to shrink in the second half of the year, he added.

...

The budget pattern underpins the broader economic trend in Russia. Its economy is expected to contract by 3% in 2015 as the key drivers—consumer demand and investment activity—are likely to spend the year in negative territory.

IS accepts Boko Haram pledge of allegiance →

Islamic State militants have accepted a pledge of allegiance by the Nigerian-grown Boko Haram extremist group, a spokesman for the Islamic State movement said Thursday.

Happy Pi Day

3.141592653...

3/14/15 9:26:53

(Yes, U.S. date system)