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<channel>
	<title>Stuff Yaron Finds Interesting</title>
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	<lastBuildDate>Mon, 23 Jan 2012 00:42:59 +0000</lastBuildDate>
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		<title>Is the United States a Tyranny?</title>
		<link>http://www.goland.org/tyranny_in_america/</link>
		<comments>http://www.goland.org/tyranny_in_america/#comments</comments>
		<pubDate>Mon, 23 Jan 2012 00:42:59 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[Etc]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=979</guid>
		<description><![CDATA[This of course depends on what tyranny means. The general definition is 'the arbitrary or unrestrained exercise of power'. To me the key term is 'unrestrained'. In the United States we theoretically have three co-equal branches of government that are supposed to check each other. But those checks appear to have failed. As evidence just [...]]]></description>
			<content:encoded><![CDATA[<p>This of course depends on what tyranny means. The general
definition is '<a HREF="http://dictionary.reference.com/browse/tyranny">the
arbitrary or unrestrained exercise of power</a>'. To me the key term
is 'unrestrained'. In the United States we theoretically have three
co-equal branches of government that are supposed to check each
other. But those checks appear to have failed. As evidence just take
a look at an article published in the <a HREF="http://www.washingtonpost.com/opinions/is-the-united-states-still-the-land-of-the-free/2012/01/04/gIQAvcD1wP_story.html">Washington
Post.</a> What we see there is a well enumerated list of powers that
are now held by the Presidency. Powers that explicitly allow for the
unrestrained use of power by the President. 
<span id="more-979"></span>
As explained in the
article any President of the U.S. can:</p>
<ul>
	<li><p>Order the killing of anyone, anywhere (e.g. not just on the
	field of battle) without review or restraint from any other branch
	of government.</p>
	</li><li><p>Identify anyone as a terrorist and hold them indefinitely
	without meaningful access to a trial and without any meaningful
	ability to dispute their identification as a terrorist. [1][2]</p>
	</li><li><p>Surveil anyone, anywhere without any meaningful judicial
	review and with the legal right to prevent anyone who learns of
	surveillance to tell anyone else about it upon pain of imprisonment.
	[3]</p>
	</li><li><p>Kidnap anyone, anywhere and hand them over to foreign
	governments known to torture (of course the U.S. is also known to
	torture, see water Boarding, stress positions, sleep deprivation,
	solitary confinement, etc.) without any chance for legal review.</p>
</li></ul>
<p>Also note, although it shouldn't matter, that all of the previous
applies as much to U.S. Citizens as to foreign nationals.</p>
<p>The list above seems to me to be the very definition of
'unrestrained exercise of power'.</p>
<p>I know it seems down right odd to call a country where you can
post an article like this and not immediately go to jail a tyranny.
But that is a fake freedom. I'm allowed to post these things because
I'm a white adult reasonably well off male, part of the power class.
So these kinds of posts are seen as 'cute' or 'liberal' or some other
harmless word. No one in the government is likely to take them
seriously. Until, of course, they do. So far that hasn't happened so
I judge myself reasonably safe in posting them. We largely limit our
tyranny to <a HREF="http://www.salon.com/2012/01/16/who_are_the_victims_of_civil_liberties_assaults_and_endless_war/singleton/">brown</a>
and <a HREF="http://www.newjimcrow.com/">black</a> people and poor
whites, these are the <a HREF="http://www.truth-out.org/recognizing-unpeople/1325894936">unpeople</a>
so generally the government feels safe doing just about anything they
can think of to them.</p>
<p>But here's the bottom line, today a single person, without any
meaningful checks or balances, can within the bounds of accepted law
and practice kill, imprison, kidnap or surveil anyone, anywhere. That
seems to me to be a pretty text book case of tyranny.</p>
<p>[1] The president attached a <a HREF="https://en.wikipedia.org/wiki/Signing_statement">signing
statement</a> to NDAA claiming that he wouldn't use his powers
against U.S. citizens but we should be clear that this is irrelevant,
everyone has fundamental rights, not just U.S. citizens and that the
legal restraint of a signing statement is pretty much nil. The
president can change his mind at any time and of course the statement
has no bearing on his successors. So as a practical matter his
signing statement is quite literally irrelevant. 
</p>
<p>[2] For example, right now <a HREF="http://www.aclu.org/national-security/guantanamo-numbers">46
people</a> are sitting in Guantanamo Bay who the U.S. says are
terrorists but doesn't believe it has enough evidence to prove this
and so intends to jail them until they die. If nothing else in this
article makes you think I hope that one does. There are 46 people who
the government refuses to charge and yet intends to hold for life.</p>
<p>[3] In theory the President is supposed to put his requests for
surveillance through the FISA court. In practice President Bush
couldn't be bothered in a number of cases and the other 'branches' of
government just rolled over. Also note that the FISA court is only
required to approve in retrospect (e.g. Surveillance can begin before
approval is sought) and that between <a HREF="https://epic.org/privacy/wiretap/stats/fisa_stats.html">2000
- 2010</a> out of 30,000+ applications only 11 were rejected and
those were apparently all re-submitted with unknown modifications and
approved. With those kind of numbers I think it's pretty fair to say
the FISA court is toothless. And again, this depends on when the
President even bothers to put something through FISA, which Bush was
clear he didn't think he had to do. To give a sense of how many
people are involved the government estimates that between 2005 - 2010
142,850 people were under surveillance via FISA. But we already know
that in practice the number of being put under surveillance is <a HREF="https://www.eff.org/issues/nsa-spying">vastly
higher</a>.</p>]]></content:encoded>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Investing in the global stock market</title>
		<link>http://www.goland.org/buyingaworldindexfund/</link>
		<comments>http://www.goland.org/buyingaworldindexfund/#comments</comments>
		<pubDate>Sun, 22 Jan 2012 20:04:51 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[financial]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=719</guid>
		<description><![CDATA[I want to invest in a global capitalization weighted free float stock market index. Below I explain what I mean, who provides such indexes and how I would build such an index using just two funds. 1 Disclaimer I am not in anyway qualified to give anyone financial advice. Furthermore the numbers in this article [...]]]></description>
			<content:encoded><![CDATA[<div class="abstract">
I want to invest in a global capitalization weighted free float stock market index. Below I explain what I mean, who provides such indexes and how I would build such an index using just two funds.
</div>
<span id="more-719"></span>
<h1 class="Section">
<a class="toc" name="toc-Section-1">1</a> Disclaimer
</h1>
<div class="Unindented">
I am not in anyway qualified to give anyone financial advice. Furthermore the numbers in this article are based largely on guesses (the basis of which are detailed in the appendix) and I’m notoriously bad at algebra. So proceed at your own risk.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-2">2</a> Defining the index I’m looking for

</h1>
<div class="Unindented">
I’m looking for an index that covers all the equity assets on the planet and then weights them based on their market capitalization. Capitalization just means taking the stock price and multiplying it by the number of shares in the company. The idea being that the index reflects the evaluation of the world’s investors in the world’s companies.
</div>
<div class="Indented">
A complication however is that the number of shares a company has issued is not the same thing as the number of shares available for purchase by the world’s investors. Some companies have a chunk of their shares kept off the market by governments, by regulations or by families. So the ’real’ value of the company isn’t a blind multiplier of the value of the shares versus the number of the shares. Rather it’s the value of the shares multiplied by the number of shares that are available for purchase. This difference is known as the free float and indexes that adjust for it are called ’free float’ or ’free’ indexes. I want to work based on such indexes.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-3">3</a> <a class="Label" name="sec:Slicing-up-the"> </a>Slicing the pie
</h1>
<div class="Unindented">
Traditionally capitalization weighted free float equity indexes divide the world based on country. Each country is classified into three categories, developed, emerging and frontier. Within each country companies that are identified as being hosted in that country are classified into large capitalization, medium capitalization and small capitalization. There are also micro capitalization indexes but as I show below it takes enough effort to get the other 98.5% of the market so I’m not going to worry too much about them.
</div>
<div class="Indented">

Note that I have also more or less given up for now in investing in Frontier countries. There are a few funds that go there but they tend to be very expensive and use odd indexes. My suspicion is that over the next few years we’ll see some reasonably low cost main stream ETFs that cover this area, so I’ll wait.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-4">4</a> The contenders
</h1>
<div class="Unindented">
There are a bunch of companies that produce capitalization weighted free float equity indexes including MSCI Barra, FTSE, S&amp;P, Bloomberg, Morningstar, Dow Jones, etc. But of those the two most popular and comprehensive are the MSCI Barra and FTSE indexes. For more information on those indexes check out the appendix. 
</div>
<div class="Indented">
The big challenge for me has been getting data about these indexes. In the past some Indexes, notably FTSE and Dow Jones, published a ton of great data. Now only Dow Jones publishes a tiny bit and the rest publish nothing. For any information one has to pay literally thousands of dollars in subscription fees which is too rich for my blood. Thankfully Vanguard has substantially improved its offerings since I first got into international investing so I just don’t need the same amount of data I used to need.
</div>
<div class="Indented">
In terms of companies that produce funds that follow these indices there is, in my opinion, really only one player that truly matters - Vanguard. Their record of low costs and low tracking error (e.g. their funds return what the index returns) are without peer in the industry. So below I will just be looking at Vanguard funds. [Note: I have heard that Dimension Fund Adviser funds are also quite good but I don’t have enough money to get direct access to them and I’m unwilling to pay an advisor.]
</div>
<h1 class="Section">

<a class="toc" name="toc-Section-5">5</a> The two fund solution - 0.14% expense ratio
</h1>
<div class="Unindented">
When it comes to covering every single stock from micro to large cap in the U.S. market the best in the business, near as I can tell anyway, is the Vanguard Total Stock Market ETF (or Admiral shares) with an expense ratio of 0.07%. This ETF follows the MSCI US Broad Market Index which is essentially identical to the Wilshire 5000 index or just about any U.S. whole market index. With this fund I can cover at absurdly low expense the entire U.S. market.
</div>
<div class="Indented">
So now I just need to account for the rest of the world. And there is great news. Vanguard has a reasonably new fund called the Vanguard Total International Stock fund. It comes in investor shares, admiral shares and as an ETF. It covers the MSCI All Country World ex USA IMI. This means it covers everything from small to large cap and all markets from emerging through Europe and Asia. Everything but the U.S. But we have the Vanguard Total Stock Market fund to cover that. So with just two funds we can cover just about all investable assets on Earth (minor non-US micro and frontier countries).
</div>
<div class="Indented">
<table>
<tr>
<td align="center" valign="top">
Fund Name
</td>
<td align="center" valign="top">
Expense Ratio

</td>
<td align="center" valign="top">
Index Tracked
</td>

</tr>
<tr>
<td align="center" valign="top">
Vanguard Total Stock Market ETF
</td>
<td align="center" valign="top">
0.07%
</td>
<td align="center" valign="top">
MSCI US Broad Market Index
</td>

</tr>
<tr>
<td align="center" valign="top">
Vanguard Total International Stock ETF
</td>
<td align="center" valign="top">
0.20%
</td>
<td align="center" valign="top">
MSCI ACWI ex USA IMI
</td>

</tr>

</table>

</div>

<div class="Indented">
My assumptions are:
</div>
<div class="Indented">
<table>
<tr>
<td align="center" valign="top">
Market Split
</td>
<td align="center" valign="top">
Percentage
</td>

</tr>
<tr>
<td align="center" valign="top">
% of all-world market accounted for by the US

</td>
<td align="center" valign="top">
45.7%
</td>

</tr>
<tr>
<td align="center" valign="top">
% of all-world market ex US
</td>
<td align="center" valign="top">
54.3%
</td>

</tr>

</table>

</div>
<div class="Indented">
So the math is:
</div>
<div class="Indented">
<div class="formula">
45.7%*0.07% + 54.3%*0.20% ? 14%
</div>

</div>
<h1 class="Section">
<a class="toc" name="toc-Section-6">6</a> Calculating the U.S./International Split
</h1>
<div class="Unindented">
To execute the index strategy I need to know what percentage of the world total free float capitalization is taken up by the U.S. One way to get this data is to go to the Dow Jones website and look up the fact sheet for Down Jones Global Indexes. The last one I looked at had data dated 12/30/2011 and said that the U.S. is 44.81% of the world market. But I’m not sure if that’s on a free float basis.

</div>
<div class="Indented">
Another way to calculate this data is a bit trickier. I go to the Vanguard Total World Stock ETF, it’s symbol is VT, on the Vanguard Website and look up the portfolio composition which says that as of 12/31/2011 ’North America’ made up 50.40% of the portfolio. There are a few problems here. First, this fund is based on a FTSE index not a MSCI index (which is what the funds I actually invest in use). Second, ’North America’ covers all of North America, not just the U.S.
</div>
<div class="Indented">
To adjust for this I go to the Vanguard FTSE All-World ex-US ETF (VEU) whose composition as of 12/31/2011 is 7.30% North America. This would be North American countries (like Canada) that aren’t the U.S. I could have used the Vanguard Total International Stock ETF but I wanted to stick in the same index and the Vanguard Total International Stock ETF uses MSCI.
</div>
<div class="Indented">
So now I have to adjust. The way I do this is kinda evil and probably wrong but I have to work with what I have. What I do is use proportions. I’m figuring that the value of say Europe in both funds should represent roughly the same amount of money. So I divide the portion of the portfolio taken up by Europe in the Vanguard FTSE All-World ex-US - 43.90% by the portion taken up by the Vanguard Total World Stock ETF - 23.30%. So now I just calculate 0.233/0.4390 = 0.531. That gives me the translation ratio. Now I can calculate the final adjustment: 0.504 - (0.073 * (0.233/0.4390)) = 0.465.
</div>
<div class="Indented">
So this argues that the U.S. is roughly 46.5% of the total world market capitalization according to FTSE.
</div>
<div class="Indented">
Of course Dow Jones and FTSE don’t quite agree, FTSE says 46.5% and Dow Jones says 44.81%. But honestly that’s close enough for my books and given the uncertainties as to what the Dow Jones numbers represent and the huge scary fudge factors in calculating the FTSE numbers this is about as good as I can expect.
</div>
<div class="Indented">

One check is to use the conversion ratio on some other numbers. So let’s look at say Emerging Markets. They are 13.50% of total world and 25% of FTSE All-World ex-US. So 0.25 * (0.233/0.4390) = 0.133. So 13.3% doesn’t exactly equal 13.50% but it’s about as close as I’m going to get without spending thousands of dollars to get access to index fund data.
</div>
<div class="Indented">
So I’ll just split the difference between the indexes and declare the U.S. to be (0.4481 + 0.465)/2 = 45.7% of the world market.
</div>
<h1 class="Section">
<a class="toc" name="toc-Appendix-A">A</a> MSCI Barra’s view of the world
</h1>
<div class="Unindented">
MSCI Barra divides the world into exactly the terms I used in <a class="Reference" href="#sec:Slicing-up-the">Section 3?</a> - developed, emerging and frontier.
</div>
<div class="Indented">
<table>

<tr>
<td align="center" valign="top" style="width: 20%;">
Index Name
</td>
<td align="center" valign="top" style="width: 20%;">
What it covers
</td>
<td align="center" valign="top" style="width: 20%;">
Notes
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 20%;">
MSCI All Country World Index Investable Market Index (ACWI IMI)
</td>
<td align="center" valign="top" style="width: 20%;">

All developed and emerging countries. All large, mid and small cap stocks in those countries.
</td>
<td align="center" valign="top" style="width: 20%;">
I can’t find any ETFs or mutual funds that I can invest in that actually follow this index.
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 20%;">
MSCI All Country World Index (ACWI)
</td>
<td align="center" valign="top" style="width: 20%;">
All developed and emerging countries. All large and mid cap stocks in those countries.
</td>
<td align="center" valign="top" style="width: 20%;">
iShares MSCI ACWI tracks this fund.
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 20%;">
MSCI Global Small Cap Index
</td>
<td align="center" valign="top" style="width: 20%;">
All small cap stocks in developed and emerging countries.
</td>
<td align="center" valign="top" style="width: 20%;">
I can’t find anyone with this exact index, just the countries in EAFE and Japan.
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 20%;">
MSCI Frontier Index

</td>
<td align="center" valign="top" style="width: 20%;">
My guess is that this only covers large and mid cap stocks in those countries but I can’t be sure.
</td>
<td align="center" valign="top" style="width: 20%;">
I can’t find anyone who tracks this index.
</td>

</tr>

</table>

</div>
<h1 class="Section">
<a class="toc" name="toc-Appendix-B">B</a> FTSE’s view of the world
</h1>

<div class="Unindented">
Like MSCI Barra, FTSE follows the same break down as I used in <a class="Reference" href="#sec:Slicing-up-the">Section 3?</a>. 
</div>
<div class="Indented">
<table>
<tr>
<td align="center" valign="top" style="width: 20%;">
Index Name
</td>
<td align="center" valign="top" style="width: 20%;">
What it covers
</td>
<td align="center" valign="top" style="width: 20%;">
Notes
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 20%;">
FTSE All-World Index
</td>
<td align="center" valign="top" style="width: 20%;">
All developed and emerging countries. All large and mid cap stocks in those countries.
</td>
<td align="center" valign="top" style="width: 20%;">
Vanguard Total World Stock Market tracks this fund
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 20%;">
FTSE Global Small Cap Index

</td>
<td align="center" valign="top" style="width: 20%;">
All small cap stocks in developed and emerging countries.
</td>
<td align="center" valign="top" style="width: 20%;">
Vanguard has a fund that tracks this fund minus U.S. small cap
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 20%;">
FTSE Frontier 50 Index
</td>
<td align="center" valign="top" style="width: 20%;">
Frontier countries, not clear which capitalizations.
</td>
<td align="center" valign="top" style="width: 20%;">

I can’t find anyone who tracks this
</td>

</tr>

</table>

</div>
<h1 class="Section">
<a class="toc" name="toc-Appendix-C">C</a> Deep history
</h1>
<div class="Unindented">
There were a lot of twists and turns that got me here. The sections below are completely out of date and I only include them here for my own historical reference.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-C.1">C.1</a> The three fund solution - 0.19% expense ratio

</h2>
<div class="Unindented">
Here there is good news and some small bad news. The good news is that it only takes two more funds to cover the rest of the world. The Vanguard FTSE All-World ex-US covers all developed and emerging markets in the world except the US (hence ex US in the name). It specifically covers all large and mid cap stocks. But this leaves small cap. For that I need one more fund, the Vanguard FTSE All-World ex-US Small Cap ETF which fills that hole.
</div>
<div class="Indented">
The small bad news is that I’m mixing indices, MSCI for the U.S. and FTSE for the rest of the world. But given how well defined and consistently covered the U.S. market is I don’t think in practice this will prove to be a problem.
</div>
<div class="Indented">
<table>
<tr>
<td align="center" valign="top">
Fund Name
</td>
<td align="center" valign="top">
Expense Ratio
</td>
<td align="center" valign="top">

Index Tracked
</td>

</tr>
<tr>
<td align="center" valign="top">
Vanguard Total Stock Market ETF
</td>
<td align="center" valign="top">
0.07%
</td>
<td align="center" valign="top">
MSCI US Broad Market Index
</td>

</tr>
<tr>

<td align="center" valign="top">
Vanguard FTSE All-World ex-US ETF
</td>
<td align="center" valign="top">
0.25%
</td>
<td align="center" valign="top">
No fair guessing
</td>

</tr>
<tr>
<td align="center" valign="top">
Vanguard FTSE All-World ex-US Small-Cap ETF
</td>
<td align="center" valign="top">
0.40%

</td>
<td align="center" valign="top">
Oh come on
</td>

</tr>

</table>

</div>
<div class="Indented">
My assumptions are:
</div>
<div class="Indented">
<table>
<tr>
<td align="center" valign="top">

Market Split
</td>
<td align="center" valign="top">
Percentage
</td>

</tr>
<tr>
<td align="center" valign="top">
% of all-world market accounted for by the US
</td>
<td align="center" valign="top">
41%
</td>

</tr>
<tr>

<td align="center" valign="top">
% of all-world accounted for by ex US large and mid cap
</td>
<td align="center" valign="top">
53%
</td>

</tr>
<tr>
<td align="center" valign="top">
% of all-world accounted for by ex US small cap
</td>
<td align="center" valign="top">
6.0%
</td>

</tr>

</table>

</div>
<div class="Indented">
So the math is:
</div>
<div class="Indented">
<div class="formula">
41%*0.07% + 53%*0.25% + 6.0%*0.4% ? 0.19%
</div>

</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-C.2">C.2</a> A four fund solution - 0.17% expense ratio
</h2>

<div class="Unindented">
When I started to invest internationally in a serious way about five years ago I needed to find a way to hold international stocks in a taxable account. At the time there really weren’t that many outstanding international stock index funds that had good behavior (in terms of distributions and capital gains). So I ended up in the Vanguard Tax Managed International fund which is an EAFE fund. EAFE is an index used by MSCI, in this case, and it stands for Europe, Australasia and the Far East. All things considered I wish I wasn’t in the fund but I’m stuck with it. First, if I sell it I’ll realize a ton of capital gains. Second, any funds withdrawn from the fund in less than 5 years realize a 1% redemeption fee. So the cost of exiting the fund is just too high.
</div>
<div class="Indented">
So my plan is to keep the money and try to compensate. The thing about the EAFE fund is that it doesn’t include emerging stocks the way the all world ex US fund does. So I had to also buy the Vanguard Emerging Markets ETF to fill out my portfolio. Most of my emerging ETF money is in tax exempt accounts so I can sell without capital gains. But some is taxable and it has appreciated a lot so the taxes would be pretty serious. So I need to hold those shares as well. Over time as stocks dip and as shares get beyond the 5 year limit I’ll try to sell off shares. But until then I have to figure out how to integrate my existing shares into my ideal portfolio.
</div>
<div class="Indented">
To do this I’ll calculate the normal contribution that should go to all-world ex US and then I’ll break that amount into money already in the EAFE and emerging that I can’t sell. If the total money going to all-world ex US is less than what is in EAFE+emerging then I’m stuck and I’ll just have to keep the shares and be out of balance. If however the amount is more than is already in EAFE and emerging then I’ll use that money to buy ex US stock. If the balance between EAFE and emerging is off then I’ll mostly live with it unless it gets too crazy in which case I’ll have to decide if I want to either take a capital gains/fee hit or buy more stock and store up more problems.
</div>
<div class="Indented">
Mixing indexes is bad. For example, EAFE doesn’t include Canada while the all-world ex US does. Or the way that MSCI calculates small cap is different than FTSE so the EAFE and emerging funds don’t include all the companies that the FTSE all-world does and the FTSE small-cap doesn’t cover them either so they are just missing from my portfolio.
</div>
<div class="Indented">
<table>
<tr>
<td align="center" valign="top">
Fund Name

</td>
<td align="center" valign="top">
Expense Ratio
</td>
<td align="center" valign="top">
Index Tracked
</td>

</tr>
<tr>
<td align="center" valign="top">
Vanguard Total Stock Market ETF
</td>
<td align="center" valign="top">
0.07%
</td>
<td align="center" valign="top">

MSCI US Broad Market Index
</td>

</tr>
<tr>
<td align="center" valign="top">
Vanguard Tax-Managed International Fund
</td>
<td align="center" valign="top">
0.20%
</td>
<td align="center" valign="top">
MSCI EAFE Index
</td>

</tr>
<tr>

<td align="center" valign="top">
Vanguard Emerging Markets ETF
</td>
<td align="center" valign="top">
0.27%
</td>
<td align="center" valign="top">
MSCI Emerging Markets Index
</td>

</tr>
<tr>
<td align="center" valign="top">
Vanguard FTSE All-World ex-US Small-Cap ETF
</td>
<td align="center" valign="top">
0.40%

</td>
<td align="center" valign="top">
You get one guess
</td>

</tr>

</table>

</div>
<div class="Indented">
My assumptions are:
</div>
<div class="Indented">
<table>
<tr>
<td align="center" valign="top" style="width: 40%;">

Market Split
</td>
<td align="center" valign="top">
Percentage
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 40%;">
% of all-world market accounted for by the US
</td>
<td align="center" valign="top">
41%
</td>

</tr>
<tr>

<td align="center" valign="top" style="width: 40%;">
% of all-world accounted for by EAFE large &amp; mid cap
</td>
<td align="center" valign="top">
41.9%
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 40%;">
% of all-world accounted for by ex US small cap
</td>
<td align="center" valign="top">
6%
</td>

</tr>
<tr>
<td align="center" valign="top" style="width: 40%;">
% of all-world accounted for by emerging stocks
</td>
<td align="center" valign="top">
11.1%
</td>

</tr>

</table>

</div>
<div class="Indented">
So the math is <div class="formula">

41%*0.07% + 41.9%*0.20% + 6%*0.40% + 11.1%*0.27% = 0.17%
</div>

</div>
<div class="Indented">
The 10.5% savings of this approach versus the other one is clearly, in my mind at least, not worth the dog’s breakfast of index mixing and coverage holes. But I’m more or less stuck with it since I’m not willing to take the 1% haircut (not to mention capital gains taxes) on getting rid of my Vanguard Tax Managed fund. But if I was starting from scratch I certainly wouldn’t have taken this approach.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-C.3">C.3</a> Cooking the books
</h2>
<div class="Unindented">
Previously I pulled a bunch of numbers out of the air and listed them as ’assumptions’. Below I explain where those numbers came from. Please fasten your seat belt, it’s going to be a bumpy ride.
</div>
<h3 class="Subsubsection">
<a class="toc" name="toc-Subsubsection-C.3.1">C.3.1</a> Percentage of world market accounted for by the US - 41%

</h3>
<div class="Unindented">
MSCI no longer publishes much useful information publicly. I actually looked into buying access to their data but the most rock bottom subscription they said they offered was more than $3000. Too rich for my blood. So my primary source for market capitalization information is the FTSE All-World Index review published with Nomura <span class="bibcites">[<a class="bibliocite" name="cite-1" href="#biblio-1">1</a>]</span>. I used the July 2010 edition for these numbers. I took the USA market capitalization ($10,606,743,000,000) and divided it by the All-World Index capitalization ($25,640,028,000,000) to get a US total market percentage of roughly 41%. But remember, the FTSE All-World Index doesn’t include small cap stocks. So that 41% represents 41% of the Large/Mid Cap universe. However FTSE defines Small Cap as being 10% of the capitalization of the regional market so this means that the US is also 41% of the total world market across small, medium and large capitalizations.
</div>
<h3 class="Subsubsection">
<a class="toc" name="toc-Subsubsection-C.3.2">C.3.2</a> Percentage of all-world accounted for by ex US Large and Mid Cap - 53%
</h3>
<div class="Unindented">
If the U.S. is 41% of the world’s market then by definition the rest of the world is 59%. But we can’t forget to break things up into small cap and the rest. Also by definition Small Cap is 10% of the total regional value (according to FTSE). So this means that 90% of the 59% belongs to non-US large and mid-cap companies. Thus giving us roughly 53%.
</div>
<h3 class="Subsubsection">
<a class="toc" name="toc-Subsubsection-C.3.3">C.3.3</a> Percentage of all-world accounted for by ex US Small Cap - 6.0%

</h3>
<div class="Unindented">
By the same logic used previously this value is 10% of the 59% or 5.9%. Due to rounding errors however I am going to bump the percentage 0.1% to make everything add up to 100%.
</div>
<h3 class="Subsubsection">
<a class="toc" name="toc-Subsubsection-C.3.4">C.3.4</a> Percentage of all-world accounted for by EAFE large and mid cap - 41.9%
</h3>
<div class="Unindented">
The closest thing in FTSE land to MSCI’s EAFE is developed markets ex US. But the comparison isn’t exact. For one thing EAFE explicitly doesn’t include Canada where as developed ex US does. I’ll deal with this by rolling the Canada contribution into the EAFE dollars. Also the country memberships of developing versus emerging in FTSE land aren’t exactly the same as developing versus emerging in MSCI land. So the whole thing is a mess. But I’m going to go with the FTSE numbers. So in this case I’ll take a short cut. I already know from above that the developed world ex US accounts for 59% of the large and mid-cap market. I then look up the emerging market capitalization at $3,216,452,000,000 and divide it by the global capitalization at $25,640,028,000,000 and get 12.5%. So 59% - 12.5% = 46.5%. But remember the large/mid cap versus small cap 10% split so I need to adjust for that getting a final value of roughly 41.9%.
</div>
<h3 class="Subsubsection">
<a class="toc" name="toc-Subsubsection-C.3.5">C.3.5</a> Percentage of all-world accounted for by Emerging Stocks - 11.1%
</h3>
<div class="Unindented">
In the previous section I already calculated that emerging is 12.5% of the large/mid cap world so now I need to adjust by 10% to get its percentage of the whole world for 11.25%. I’m going to shave 0.15% off to make the numbers all add up nicely. The discrepency is due to previous rounding.

</div>
<div class="Paragraph">
<a class="toc" name="toc-Paragraph-1"></a>Is FTSE emerging a good stand in for MSCI emerging? I think so. Here’s why
</div>
<div class="Unindented">
The way I tried to figure this out is a bit complex so hold on. I couldn’t get good numbers for MSCI’s numbers representing things like the US market cap so I had to go instead go to the iShares MSCI ACWI ETF which publishes a fact sheet <span class="bibcites">[<a class="bibliocite" name="cite-2" href="#biblio-2">2</a>]</span> that lists the value of their stocks in each country. Then using software I can’t even find anymore (I did this back in January of 2010) I calculated for each country what the total value of the stock the ETF held for that country was worth. Then I went to MSCI Barra’s site for <a class="URL" href="http://www.mscibarra.com/products/indices/tools/index_country_membership/">index membership</a> and pulled down the membership list for EAFE. The combination of U.S., Canada and EAFE is all developed countries so remaining capitalization is by definition emerging. Of course this whole approach is suspect since the stocks held by the iShares ETF represent their replication of the index, not the index itself. But without a better source of information this was the best I could do. I did all of this back in January of 2010 so I pulled the December 2010 results for the Nomura/FTSE All-World review and calculated the table below.
</div>
<div class="Indented">
<table>

<tr>
<td align="center" valign="top">
Region
</td>
<td align="center" valign="top" style="width: 20%;">
% of large cap/mid cap capitalization using iShares MSCI ACWI ETF holdings
</td>
<td align="center" valign="top" style="width: 20%;">
% of large cap/mid cap capitalization using FTSE Index
</td>

</tr>
<tr>
<td align="center" valign="top">
U.S.
</td>
<td align="center" valign="top" style="width: 20%;">

41.30%
</td>
<td align="center" valign="top" style="width: 20%;">
41.02%
</td>

</tr>
<tr>
<td align="center" valign="top">
Canada
</td>
<td align="center" valign="top" style="width: 20%;">
4.12%
</td>
<td align="center" valign="top" style="width: 20%;">
3.56%
</td>

</tr>
<tr>
<td align="center" valign="top">
EAFE
</td>
<td align="center" valign="top" style="width: 20%;">
40.59%
</td>
<td align="center" valign="top" style="width: 20%;">
41.60%
</td>

</tr>
<tr>
<td align="center" valign="top">
Emerging

</td>
<td align="center" valign="top" style="width: 20%;">
13.99%
</td>
<td align="center" valign="top" style="width: 20%;">
13.82%
</td>

</tr>

</table>

</div>
<div class="Indented">
So given all the caveats it seems reasonable to use the FTSE emerging markets definition as a stand in for MSCI.
</div>

]]></content:encoded>
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		<slash:comments>5</slash:comments>
		</item>
		<item>
		<title>Losing exceptions in C#, there has to be a better way!</title>
		<link>http://www.goland.org/losing_exception/</link>
		<comments>http://www.goland.org/losing_exception/#comments</comments>
		<pubDate>Thu, 05 Jan 2012 00:24:36 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[Tech]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=971</guid>
		<description><![CDATA[A nasty problem I’ve been tangling with for a while now is that C# likes to eat exceptions. If one is already in an exception context and another exception gets thrown then the first exception, by default, is just lost. I explore below some ways to deal with this and honestly they all suck. Does [...]]]></description>
			<content:encoded><![CDATA[<div class="abstract">
A nasty problem I’ve been tangling with for a while now is that C# likes to eat exceptions. If one is already in an exception context and another exception gets thrown then the first exception, by default, is just lost. I explore below some ways to deal with this and honestly they all suck. Does anyone have a better idea?
</div>
<span id="more-971"></span>
<div class="Unindented">
So it all started with Using. I often am in a situation where I create stateful objects, do something with them and then need to make sure they get cleaned up so I don’t run out of resources (threads, connections, memory, etc.)
</div>
<div class="Indented">
Typically the way this is handled is via Using. Just wrap the object in Using and one has a (sorta) guarantee that things will be cleaned up. But Using is generally not considered a good idea because it can hide exceptions. See <a class="URL" href="http://msdn.microsoft.com/en-us/library/aa355056.aspx">here</a> for a description with examples of the two flavors of problems with Using.
</div>

<div class="Indented">
The short description of the problem is that Using appears to essentially be some syntactic sugar on top of Finally. To see the issue it’s useful to understand that:
</div>
<pre class="LyX-Code">
using (SqlConnection sqlConnection = new SqlConnection(connectionString))
{
    doStuff(sqlConnection);
}
</pre>
<div class="Unindented">
Is, near as I can tell anyway, functionally identical to:
</div>
<pre class="LyX-Code">
SqlConnection sqlConnection = null;
try
{
    sqlConnection = new SqlConnection(connectionString);
    doStuff(sqlConnection);
}
finally
{
    if (sqlConnection != null)
    {
        sqlConnection.Dispose();
    }
}
</pre>
<div class="Unindented">
Now imagine that doStuff() throws an exception. Before the exception is caught the finally clause will be called. Now imagine that sqlConnection.Dispose() throws an exception. What will happen is that the sqlConnection.Dispose() exception will mask the doStuff() exception. In the general case this is usually bad. In many cases the thing that will cause sqlConnection.Dispose() to fail will probably be explained by something bad that doStuff() did. So by losing the doStuff() exception we lose the reason why things went wrong in the first place.
</div>
<div class="Indented">
As far as I can tell these are the options for how to deal with this situation:

</div>
<div class="Description">
<span class="Description-entry">Lose one of the exceptions</span> I can set things up so that one of the two exceptions (either doStuff’s or Dispose’s) is simply thrown away. The easy one to get rid of is doStuff since I get that for ’free’ via finally. Getting rid of Dispose’s is also pretty easy, just wrap the Dispose call in a try/catch with an empty catch. It isn’t pretty but it would work. This approach sucks if both exceptions have important system data and picking which one to get rid of is kind of random. After all doStuff’s exception might have caused the Dispose exception, or it might not, I won’t know if I get rid of doStuff’s exception.
</div>
<div class="Description">
<span class="Description-entry">Make one of the exceptions an inner exception</span> In essence I would have to create a new exception that tries to replicate one of the exceptions and puts the other exception as an inner exception. But creating a new exception gets rid of the old stack trace which is losing important information and damned if I can tell which exception should be outer and inner. In reality we are really just abusing inner exception. The point of inner exception is that it somehow caused the outer exception. But in this case the two exceptions might be unrelated so using the inner/outer isn’t great.
</div>
<div class="Description">
<span class="Description-entry">Log one of the exceptions</span> Another option, which is really just slightly better than losing one of the exceptions, is log something about the exception that we choose to lose. If one of the exceptions is a ’show stopper’ exception (e.g. the program is going to exit) then I only need to know about the other exception for investigative purposes. So I can just dump the hidden exception’s data into the log and let the ’killer’ exception go up the stack.
</div>
<div class="Description">
<span class="Description-entry">Use aggregate exceptions</span> This is a new feature introduced by .NET 4.0 that allows one to throw exceptions that consist of collections of exceptions. But unless the code was written from the ground up to deal with aggregate exceptions this pattern is crazy intrusive. Imagine we have handlers for both doStuff and Dispose. If they aren’t expecting an aggregate exception and pattern matching properly then the aggregate exception containing both doStuff and Dispose’s exceptions inside of it will just blow right past those handlers.
</div>

<div class="Unindented">
To be clear, all these options suck. Losing an exception offends me so I just can’t bring myself to do that. The inner exception trick is just wrong. It’s the kind of semantics that will drive other programmers crazy. &ldquo;I see this inner exception but I swear it couldn’t have caused the outer exception, WTF?!?!??&rdquo; Aggregates seem really wacky to me unless code was written from the ground up to deal with them and even then they are really painful. Here is an example of an aggregate exception just to drive home the point:
</div>
<pre class="LyX-Code">
SqlConnection sqlConnection = new SqlConnection(connectionString);
try
{
    doStuff(sqlConnection);
}
catch (Exception e)
{
    try
    {
        connection.Close();
    }
    catch (Exception closeE)
    {
        throw new AggregateException(new Exception[] { e, closeE });
    }
    throw;
}
connection.Close();
</pre>
<div class="Unindented">
Think about that code for a second. If doStuff screws up and Close doesn’t have a problem then a doStuff exception is thrown. If doStuff doesn’t throw an exception but the Close() outside the catch block throws an exception then a Close() exception is thrown. But if both doStuff and Close() throw then an aggregate exception gets thrown. Does anyone want to write the catch clauses for this stuff?!?! The only sane solution is to always throw Aggregate exceptions and then write handlers that pick through them to see what’s there. ICK. It means having to wrap all calls in all cases with a try/catch just to translate their non-aggregate exceptions into aggregate exceptions. No thanks, that’s just nuts.
</div>
<div class="Indented">
So I’m left with logging. But remember that isn’t free either. For example:
</div>
<pre class="LyX-Code">
SqlConnection sqlConnection = new SqlConnection(connectionString);
try
{
    doStuff(sqlConnection);
}
catch (Exception)
{
    try
    {
        sqlConnection.Dispose();
    }
    catch(Exception e)
    {
        log(e);
    }
    throw;
}
sqlConnection.Dispose();

</pre>
<div class="Unindented">
In most cases if I have to pick between doStuff’s exception and the Dispose exception I want doStuff’s. So this means I can’t use &ldquo;using&rdquo; (which forces me to hide doStuff’s exception if Dispose throws) which bloats my code. And I have to remember to repeat Dispose twice (once inside of the catch and once outside how’s that for begging for bugs?). And I have to remember to wrap the Dispose inside the catch in its own try/catch and log. This sucks.
</div>
<div class="Indented">
So all the choices seem to suck. I think the least sucky is logging but it’s still pretty high on the sucky scale.
</div>
<div class="Indented">
Anyone have any better ideas?
</div>]]></content:encoded>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Where to stash emergency cash?</title>
		<link>http://www.goland.org/where_to_stash_the_cash/</link>
		<comments>http://www.goland.org/where_to_stash_the_cash/#comments</comments>
		<pubDate>Mon, 28 Nov 2011 03:53:49 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[financial]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=966</guid>
		<description><![CDATA[In this article I explore the options for places to stick my emergency cash. This is cash I need in case things go ’bad’ for us. So my primary concern is safety. Below I walk through the options and discuss how I handled things. Since I am not a financial expert and don’t play one [...]]]></description>
			<content:encoded><![CDATA[<div class="abstract">
In this article I explore the options for places to stick my emergency cash. This is cash I need in case things go ’bad’ for us. So my primary concern is safety. Below I walk through the options and discuss how I handled things. Since I am not a financial expert and don’t play one on T.V. your mileage may vary.
</div>
<span id="more-966"></span>
<h1 class="Section">
<a class="toc" name="toc-Section-1">1</a> Safety first
</h1>
<div class="Unindented">
For emergency cash the key goal is safety. The whole point of emergency cash is that when it all hits the fan the emergency cash is going to be there. So for me that means that where ever the cash is it has to be backed by the full faith and credit of the United States Government. We can have a fine conversation about how much that is really worth but compared to the other options I would argue it’s still the best option around.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-2">2</a> Short term cash

</h1>
<div class="Unindented">
In the short term (e.g. emergency funds used to cover say 3 months worth of expenses) one needs the cash safe and ready at hand. The traditional answer to this challenge is either a checking or savings account kept in an amount that qualifies for government insurance. This is still, I think, a fine plan. But it has a rub. What happens if the bank the money is kept in fails? Weiss (who rates banks) has a great <a class="URL" href="http://weissratings.com/help/faq.aspx#3">short description</a> of the consequences. The bottom line is - one will get one’s money back but potentially (in an unlikely but still worst case) only after a potentially unknown wait. Having to wait some unknown period for my money to show up doesn’t qualify as a safe place for emergency cash.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-3">3</a> Which bank is safe?
</h1>
<div class="Unindented">
So I want a bank or credit union that is ’safe’. But figuring out what safe means turns out to be a real challenge. For example, <a class="URL" href="http://www.bauerfinancial.com">Bauer Financial</a> gives my current credit union, First Technology, a 5 star rating, their highest. Bankrate gives First Tech a ”<a class="URL" href="http://origin.bankrate.com/rates/safe-sound/bank-ratings-search.aspx?t=cu">Safe & Sound</a>” rating of 3 starts, with 5 stars being the highest. <a class="URL" href="http://weissratings.com">Weiss Ratings</a> gives them a grade of D+ with their lowest rating being an E-. What the hell is a sane person supposed to do with that data? It seems like I can get whatever rating I want for a bank. Which one do I trust?<span class="FootOuter"><span class="SupFootMarker">?[A]?</span><span class="HoverFoot"><span class="SupFootMarker">?[A]?</span>There are other bank rating companies, like Veribanc, but they don’t offer free ratings. </span></span> I did some research and while I found some interesting things on Weiss nothing I found gave me any idea who to trust.

</div>
<h1 class="Section">
<a class="toc" name="toc-Section-4">4</a> Credit union or bank?
</h1>
<div class="Unindented">
In picking a place to put my emergency money my focus is on on credit unions. My theory is that a commercial bank has many conflicts that make them a hard place to put money. First, since Glass-Steagall was repealed a bank could be a bank or it could be a gambling house with a bank attached, it’s hard to really know. Credit Unions are generally restricted to just being banks, not getting into what is called ’commercial banking’. Second, the bank has to keep happy its managers, its owners (e.g. share holders) and its customers. In the conflict between the three, as the last financial crises amply demonstrated, the managers always win. In the case of credit unions because the customers are the owners there is one less party to the conflict. Of course this could still mean that the managers win but at least there are fewer contenders at the table. Credit Unions, unlike commercial banks, are also non-profits so generally it’s much easier for them to focus on making their owner/customers happy rather than figuring out how to make the stock market happy.
</div>
<div class="Indented">
The previous paragraph is not an un-reserved hosannah to credit unions. No doubt that a badly run credit union will do much worse than a well run bank but in entering any game I like to stack the deck in my favor and in terms of safety it seems like the odds are better with a credit union.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-5">5</a> Finding a credit union to put emergency cash in
</h1>
<div class="Unindented">
Here are the steps I followed to find a Washington State credit union:

</div>
<ol>
<li>
Find Weiss List of top rated credit unions in Washington State, e.g. credit unions that got a B+ or higher. (13 entries)
</li>
<li>
Combine with Bankrate’s list of credit unions in Washington State with 4 or higher rating (added another 11 I didn’t already have)
</li>
<li>
Bauer’s list was hard to work with so what I did was just look up the ratings for the 24 banks I got from steps 1 and 2 and add in Bauer’s ratings.
</li>
<li>
Strike any bank that didn’t get at least a B+ from Weiss, a 4 from Bankrate and a 4 from Bauer (Reduced list from 24 to 5).
</li>
<li>
Run quickly through list to find the credit unions whose eligibility criteria my family meets (Reduced list from 5 to 1)
</li>

<li>
While the one remaining bank doesn’t have a local branch, that’s o.k. because I’m just using it for savings. But it does allow us to open an account remotely. So all is good. Just to be paranoid I checked the remaining bank out with the BBB and they got an A+.
</li>

</ol>
<div class="Unindented">
The winner bank in my family’s case is <a class="URL" href="http://www.wecu.com/">Whatcom Educational Credit Union</a>. I’ve already opened an account with them and moved money over. Their staff is awesome. Opening an account was reasonably easy. The only annoying part is because we weren’t going to drive out Whatcom county we had to get a notary public witness my wife and I’s signatures on the application form. Appropriately enough we had this done for free at FirstTech. WECU is a full service credit union. They have on-line banking, a really well functioning service to answer any questions, bill pay, etc. They even are already configured to download my banking data to my financial program, Moneydance. What more could one ask for?
</div>
<div class="Indented">
Note, btw, that the best bank for you may or may not be WECU even if you do live in Washington. You might quality for different credit unions than I do thanks to where you live, work, worship or who you are related to.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-6">6</a> What about daily banking?
</h1>

<div class="Unindented">
If I wanted to I could easily use WECU for all of my banking. I can use any of the ATMs that are members of the CO-OP Network which includes the Credit Union Service Centers (CUSC). There is a CUSC ATM just down the street from where we live. But in practice I intend to stay with FirstTech for daily banking needs. I really do like them, the only reason I looked some place else for my emergency cash is that I wasn’t happy with their credit ratings. But for normal banking, bill pay, etc. They are awesome. So while I could use WECU for everything, I don’t intend to. This is generally good because it means I can choose a bank for our emergency money that just holds money, I don’t have to worry about other bells and whistles (like branch location, bill pay, etc.) because FirstTech has that all covered for us.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-7">7</a> What about other options?
</h1>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-7.1">7.1</a> Treasury only money market fund
</h2>
<div class="Unindented">
When it comes to cash savings there are other options. A very safe one as <a class="URL" href="http://weissratings.com/help/some-advantages-of-tommfs.aspx">suggested</a> by Weiss is to use a Treasury Only Money Market fund. This is intriguing but current rates are about 0.01% (yes 1/100th of a percent). Unfortunately this is another example of how hard it is to tell what the ’truth’ is. SEC rules require that Money Market accounts advertise their interest after expenses. So when they say ”0.01%” that’s what you should actually get. Unfortunately banks are not required to make the same disclosure. In the case of FirstTech, for example, they advertise an interest rate of 0.55% for instance access accounts with more than $10,000. I manually calculated the rate I’m actually getting and its 0.54%. So that’s not a bad discrepancy at all. But YMMV. BTW, the reason (in theory anyway) that a bank can pay more than a treasury fund is that the bank can make money off the money you give it while the Treasury money market fund can only get whatever the market is currently paying for government debt.
</div>

<h2 class="Subsection">
<a class="toc" name="toc-Subsection-7.2">7.2</a> Treasury bonds
</h2>
<div class="Unindented">
<a class="URL" href="http://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm">IBonds</a> in particular are very nice in theory as a place to stick cash as they adjust for inflation (or, well, the government’s version of it, but that’s a different discussion). One also doesn’t have to pay any taxes on the interest of an IBond until it is redeemed. But any money put into IBonds cannot be redeemed in under 12 months and any money pulled out in under 5 years will pay a penalty of 3 months of accrued interest. So IBonds are not, I think, a great place to put emergency cash.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-7.3">7.3</a> Short term government bonds funds
</h2>
<div class="Unindented">
There are plenty of mutual funds that invest in short term government bonds. Unlike money market funds which typically invest in 30 or 60 day debt, short term government bond funds can invest in debt that matures in 2 years or so. The problem with these funds is that they respond to interest rates conditions more than a treasury only money market fund would and therefore one can definitely lose money if interest rates go up. While the loss probably wouldn’t be horrendous nevertheless it is a loss and we are talking about emergency cash. So I don’t think these funds are a good idea for our current purposes.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-7.4">7.4</a> Zero-Percent Certificate of Indebtedness

</h2>
<div class="Unindented">
This is an option available via the U.S. Treasury’s TreasuryDirect service. It is a zero interest holding fund for money that is intended to be used to purchase various types of treasury securities. But it is a treasury debt so it should be backed by the full faith and trust of the U.S. Government. There also doesn’t seem to be any limit to how much one can buy. Money can only be moved in by transferring it from a bank and it can only be moved out the same way. And remember, it’s a ”zero interesting” holding fund, so it just keeps the cash. It’s like putting it under your bed except backed by the U.S. Government. But still, if all the other options are looking horrific a C of I might make sense.
</div>]]></content:encoded>
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		<title>State diagrams for Paxos made simple</title>
		<link>http://www.goland.org/state_diagrams_for_paxos_made_simple/</link>
		<comments>http://www.goland.org/state_diagrams_for_paxos_made_simple/#comments</comments>
		<pubDate>Fri, 11 Nov 2011 02:19:51 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[Internet Protocols]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=958</guid>
		<description><![CDATA[I was reading through Paxos made simple and I really wished there were state diagrams to help explicate the protocol. So I wrote them up and share them below. Please keep in mind that the diagrams just explore naive Paxos, that is single value, no distinguished proposer or distinguished learner. So this version of Paxos [...]]]></description>
			<content:encoded><![CDATA[<div class="abstract">
I was reading through <a class="URL" href="http://research.microsoft.com/en-us/um/people/lamport/pubs/paxos-simple.pdf">Paxos made simple</a> and I really wished there were state diagrams to help explicate the protocol. So I wrote them up and share them below. Please keep in mind that the diagrams just explore naive Paxos, that is single value, no distinguished proposer or distinguished learner. So this version of Paxos is pretty useless in practice but it completely captures the core mechanisms that make Paxos work (with the exception of how to pick a distinguished learner). Please note that this article is intended to be used by someone going through Paxos made simple. It is an adjunct, not a replacement.
</div>
<span id="more-958"></span>
<h1 class="Section">
<a class="toc" name="toc-Section-1">1</a> Modeling assumptions
</h1>
<div class="Unindented">
Following the lead of the paper, messaging is modeled as one way unicast with guaranteed reliability and with no repeats. Guaranteed reliability, btw, only means that the message will get there, it says nothing about when. 
</div>
<div class="Indented">
One way messaging also means that unless the receiver of the message explicitly decides to respond to the message there is no way for the sender to know when the message arrived or what happened as a consequence of receiving it.
</div>
<div class="Indented">
Sending a message is executed as sendMessage(address, purpose of message, arguments...). Receiving a message is executed as messageReceived(purpose of message, arguments...).
</div>
<div class="Indented">
The state diagrams below are assumed to be single threaded. In cases where an entity is waiting for messages only one message will be processed at a time and any remaining messages that have arrived will be put into an infinitely big queue to be processed one by one. 
</div>
<div class="Indented">
Finally, any time a value is assigned it is assumed to be assigned in some suitably persistent way (e.g. written to a disk, stored on tape, chiseled into a stone tablet, etc.)
</div>
<div class="Indented">
These simplifications do not alter the algorithm, they just make the state diagrams easier to read.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-2">2</a> Proposer
</h1>
<div class="Unindented">
<div class="float">
<a class="Label" name="Figure-1"> </a><div class="figure">
<img class="embedded" src="paxos_made_simple_proposer.svg" alt="figure paxos_made_simple_proposer.svg"/>
<div class="caption">
Figure 1 State diagram for a proposer
</div>

</div>

</div>

</div>
<div class="Indented">
We begin by assuming that some client somewhere instantiates a proposer. How this happens is out of scope for the algorithm definition.
</div>
<div class="Indented">
Notice that there is no failure logic in the state machine. This is because the default algorithm doesn’t send error messages when requests are rejected. So if a quorum’s worth of the proposal requests aren’t accepted then the proposer will stay in the wait state forever.
</div>
<div class="Indented">
Similarly there is no obvious way for the proposer to know if their accept request was accepted by a quorum of acceptors. First, acceptors don’t send errors for rejected requests and second they send acknowledgements of accepted requests to learners, not proposers.
</div>
<div class="Indented">
None of these issues alter the algorithm and there are plenty of ways to deal with them in practice so we follow the Paxos made simple paper and ignore them.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-2.1">2.1</a> InitializeSystem
</h2>
<div class="Unindented">
The arguments passed to the proposer are:
</div>
<div class="Description">
<span class="Description-entry">acceptorList</span> This is the list of all acceptors in the cluster. Note that in multicast based systems this could just be the multicast address but in that case there would need to be a fourth argument to record how many acceptors there are in the cluster.
</div>
<div class="Description">
<span class="Description-entry">proposalNumber</span> The proposal number that the proposer is supposed to start out proposing. Note that Paxos requires that different proposers use unique proposal numbers but doesn’t specify how this is to occur. There are a number of ways to achieve this but they aren’t important for understanding the core algorithm. The key thing to understand is that the initial proposalNumber will be unique amongst all other proposals.
</div>
<div class="Description">
<span class="Description-entry">proposalValue</span> This is the value that is supposed to be proposed.
</div>
<div class="Description">
<span class="Description-entry">proposerAddress</span> This is the address to which messages to the proposer can be sent, this is needed by acceptors to send in responses to successful prepare messages.
</div>
<div class="Unindented">
The proposer also has the following local variables:
</div>
<div class="Description">
<span class="Description-entry">acceptedPrepareCount</span> This records how many acceptors have accepted the proposer’s prepare request
</div>
<div class="Description">
<span class="Description-entry">seenAcceptedProposalNumber</span> This is the highest proposal number that was returned in a response to a prepare message seen so far.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-2.2">2.2</a> A question of identity
</h2>
<div class="Unindented">
There is an assumption that the proposerAddress is absolutely unique and used only once with a single proposal. Put another way, each time a proposer is instantiated it conceptually created a universally unique address for itself that it will never re-use for any other proposals. That way when it receives a message it knows that the message is for it. This is important because otherwise a proposer could receive a message that got ’stuck’ in the system for an old version of itself that was proposing something else and got re-used for this proposal. 
</div>
<div class="Indented">
Of course in practice one doesn’t have to get anywhere near this fancy. Just sticking the proposalNumber being responded to in the ProposalAccepted message would a long way to taking care of the potential naming issues. But it would also make the diagram more complex.
</div>
<div class="Indented">
It’s interesting to speculate however as to what would happen if two instances of a proposer existed which had the same address. This is entirely plausible, especially in a distributed cloud environment. This isn’t something the algorithm was designed for, there is an assumption that messages fined their way to the ’right’ place, eventually. As long as messages don’t get duplicated (which, for protocols like UDP is also entirely plausible) it’s probably isn’t a big deal but if message can get duplicated then the protocol could entire an ’impossible’ state where two or more acceptors have accepted the same proposalNumber but with different values. That isn’t a legal state in the protocol.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-3">3</a> Acceptor
</h1>
<div class="Unindented">
<div class="float">
<a class="Label" name="Figure-2"> </a><div class="figure">
<img class="embedded" src="paxos_made_simpler_acceptor.svg" alt="figure paxos_made_simpler_acceptor.svg"/>
<div class="caption">
Figure 2 State diagram for an acceptor
</div>

</div>

</div>

</div>
<div class="Indented">
The guard conditions at the start of AcceptPrepare and AcceptAccept should really be on the links and not in the states. But doing it ’right’ made the picture enormous so I had to push them into the states for readability.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-3.1">3.1</a> InitializeSystem
</h2>
<div class="Unindented">
When an acceptor is created it is passed in:
</div>
<div class="Description">
<span class="Description-entry">learnersList</span> Specifies the list of entities to notify when a value is accepted. 
</div>
<div class="Description">
<span class="Description-entry">acceptorAddress</span> The acceptor’s own address, this is used when notifying learners
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-4">4</a> Learner
</h1>
<div class="Unindented">
<div class="float">
<a class="Label" name="Figure-3"> </a><div class="figure">
<img class="embedded" src="paxos_made_simpler_learner.svg" alt="figure paxos_made_simpler_learner.svg"/>
<div class="caption">
Figure 3 State diagram for a learner
</div>

</div>

</div>

</div>
<div class="Indented">
Other than talking about distinguished learners in the context of scalability the Paxos Made Simple paper doesn’t actually say much about learners. So I’ve taken a very conservative approach and just assumed that learners just record what they learn, no more. There is one state variable, learnedValue. It’s a dictionary where the key is an acceptor’s address and the value is whatever value the acceptor has accepted. Presumably anyone who wants to use what a learner has learned would look at the dictionary and see if any value in the dictionary is quorate.
</div>

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		<item>
		<title>Wrapped or Native Paxos?</title>
		<link>http://www.goland.org/wrapped_vs_native_paxo/</link>
		<comments>http://www.goland.org/wrapped_vs_native_paxo/#comments</comments>
		<pubDate>Wed, 09 Nov 2011 22:49:59 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[Internet Protocols]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=953</guid>
		<description><![CDATA[So let’s say I want to build a nice highly consistent multi-data center store, something like Megastore. Most everyone at this point has something like Bigtable already deployed in their data centers. What they typically don’t have is a way to keep different instances of their table stores guaranteed consistent with each other across DCs. [...]]]></description>
			<content:encoded><![CDATA[<div class="abstract">
So let’s say I want to build a nice highly consistent multi-data center store, something like <a class="URL" href="http://www.cidrdb.org/cidr2011/Papers/CIDR11_Paper32.pdf">Megastore</a>. Most everyone at this point has something like Bigtable already deployed in their data centers. What they typically don’t have is a way to keep different instances of their table stores guaranteed consistent with each other across DCs. Megastore steps in to address this issue. But this begs a fundamental question - what’s better, to wrap a Paxos coordinator on top of existing table stores or to build a new Paxos native storage service?
</div>
<span id="more-953"></span>
<h1 class="Section">
<a class="toc" name="toc-Section-1">1</a> The architectures
</h1>
<div class="Unindented">
<div class="float">
<a class="Label" name="fig:Two-possible-Megastore"> </a><div class="figure">
<img class="embedded" src="wrapped_vs_native.svg" alt="figure wrapped_vs_native.svg"/>
<div class="caption">
Figure 1 Two possible Megastore style architectures
</div>

</div>

</div>
In the first architecture, the one on the left, each DC contains a machine that is running Paxos. Think of this as a combination of the replication server and coordinator in the Megastore paper. All reads and writes go through the wrapped Paxos instance. Writes must always be relayed to the local table store instance (which runs on the existing table store infrastructure in the same DC) for persistence. Reads, however, can often be handled directly out of the Wrapped Paxos Instance via its local cache.
</div>
<div class="Indented">
In the Native Paxos Instance case there is no existing table store that is being wrapped. Instead each Paxos instance has its own local table store with its own persistent storage (Read: disk) physically on the same machine. There is no call out to a completely stand along table store service.
</div>
<div class="Indented">
So really the only difference between the two architectures is that the Wrapped Paxos architecture uses the Paxos boxes as caches with a separate table service and all of its infrastructure handling persistent storage. With the Native Paxos architecture there is no separate table service, no separate naming/replication/locking infrastructure, just a local single instance Table Store.
</div>
<div class="Indented">
An example of a wrapped Paxos instance could be a VM running Paxos in Windows Azure that talks to Windows Azure Table Store or a machine in a data center running Paxos talking to a local installation of HBase or Mongo or CouchDB. An example of a Native Paxos instance could be a machine running Paxos who records all data persistently to the local machine using MySQL or single instance (e.g. one box) deployments of HBase, Mongo or CouchDB.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-2">2</a> Issues to consider in choosing an architecture
</h1>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-2.1">2.1</a> Are local machines recycled with abandon?
</h2>
<div class="Unindented">
If running in a cloud that doesn’t provide good guarantees that machines (and their local disks) won’t be recycled with abandon then one has little choice but to use a wrapped approach that leverages some existing table store provided by the cloud provider. 
</div>
<div class="Indented">
It’s tempting to argue that the recycling issue isn’t that big a deal. Imagine, for example, that one’s cloud provider has five DCs in a particular region and one has deployed one’s Native Paxos Instances across all 5. In that case the probability of losing all five machines is really low so it’s o.k. if a few get recycled here and there (with total data loss), we can just resynch from the survivors. But to think this way is to ignore the very real possibility of what’s called a &ldquo;poisoned value.&rdquo; 
</div>
<div class="Indented">
A not uncommon bug in replicated systems is that one gets a request with some value that triggers a bug that causes the local machine processing the request to fail hard and possibly get fully recycled by the underlying cloud infrastructure. The problem is that replicated systems like to retry so the message is likely to get repeated to the next instance of the system who then crashes unrecoverably and so on. No amount of replication can protect against this kind of systemic error. So it’s usually considered best practice to have some kind of durable storage, just in case. But if all the crashed machines can potentially be fully recycled with their local disk state lost then there is no real durable storage. So yes, this issue probably matters.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-2.2">2.2</a> Lowering cost
</h2>
<div class="Unindented">
The Wrapped Paxos Instance can be made potentially cheaper than the Native Paxos Instance. The reason for this is that with the Native Paxos Instance the capacity of the cluster is limited to the memory and disk space on the smallest machine in the cluster. In the case of the Wrapped Paxos Instance one can represent substantially more data than would fit on a single box’s RAM or disk. And typically, especially for cloud based solutions, the cost of storing data in a cloud provider’s table store is typically much less than running a VM and storing the data on the VM’s disk. So money is saved both in having fewer Paxos clusters but also in storing the persistent data more cheaply. This assumes, of course, that one is willing to take the latency penalty of cache misses, but that is a configurable choice.
</div>
<div class="Indented">
Note that in theory the cost savings shouldn’t be there. For example, most table stores will replicate a value three times inside of a data center. So if one has one’s store replicated across three DCs then a Wrapped Paxos approach will end up with three copies in each DC for a total of six copies. But a Native Paxos approach would just have three copies total (one per DC). But in reality one is highly unlikely to be happy with just three copies in a distributed system (for latency reasons, if nothing else, a single reboot on a machine due to a software or OS upgrade means a DC doesn’t have any local representatives). So what’s substantially more likely is that one will have either five Paxos instances (two DCs have two representatives and one DC having one, mostly for quorum reasons). So in practice the replication costs between the two solutions aren’t that different in pure theory and given the practical realities of the lower cost of storing data in a cloud providers table store the Wrapped Paxos approach is likely to be cheaper.
</div>
<div class="Indented">
Note however that this all assumes that it is practical to ’under provision’ the Wrapped Paxos Instances. In other words it’s o.k. that they don’t have copies in their caches of all data. It’s o.k. that the write capacity of the system is limited to the capacity of the under provisioned cluster, etc. If latency and throughput requirements prevent under provisioning the Wrapped Paxos Instances then there is likely no real cost savings.
</div>
<h2 class="Subsection">
<a class="toc" name="toc-Subsection-2.3">2.3</a> Increased availability
</h2>
<div class="Unindented">
All things being equal (and when are they ever that?) the Wrapped Paxos approach should be less available than the Native Paxos approach. The reason is that the Wrapped Paxos approach introduces a whole level of extra complexity - a full distributed (within a single DC anyway), fully replicated table store. This is an entire major subsystem whose problems will at best just kill all writes and can easily also kill all reads (if the Wrapped Paxos Instances are under provisioned). Now one of the advantages of a multi-DC approach is that if one DC’s table store is having a bad day at least the other DC’s table stores are hopefully still working (unless one has a poisoned value). But losing a full DC is likely to do some pretty bad things to latency and throughput thus reducing availability.
</div>
<div class="Indented">
How critical this factor is really depends upon the maturity and performance of the table store being used. If it’s known to be highly available and highly reliable then in practice this consideration may not necessarily apply.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-3">3</a> A non-issue - lowering latency
</h1>
<div class="Unindented">
In theory the Native Paxos Instance should be faster than the Wrapped Paxos Instance for writes in particular. After all the Native Paxos Instances only need to write to their local disk drives while the Wrapped Paxos Instances must go through a full write to the table store service which is almost certainly on a separate machine. In the worst case a write to the table store will require a full name resolution on the table store service to figure out what machine currently is the table store master for the desired value and then having to send a write to the table store master who then has to replicate it to its two slaves. But given the latencies involved with doing cross data center writes as part of the Paxos algorithm it isn’t clear if this extra overhead on writes really makes all that much of a difference.
</div>
<div class="Indented">
Reads may or may not be faster depending on the cost tradeoff made in deploying the Wrapped Paxos Instances. If low latency is a priority then each Wrapped Paxos Instance can have enough cache to hold all the values it is responsible for overseeing (even if they have to spill over to disk).
</div>
<div class="Indented">
So one suspects that in practice latency is not a compelling reason to choose one architecture over the other.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-4">4</a> Conclusion
</h1>
<div class="Unindented">
In the end the choice is not eternal, one should be able to switch from one architecture to the other. So one could start with a wrapped approach since the table store infrastructure might already be available and then switch to native if that should prove to have useful advantages. My general guess is that anyone who can’t under provision will probably want to run native mostly because it removes a whole layer (the table store service) of things to go wrong.
</div>
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		<title>To rent or buy a house?</title>
		<link>http://www.goland.org/rent_vs_buy/</link>
		<comments>http://www.goland.org/rent_vs_buy/#comments</comments>
		<pubDate>Wed, 09 Nov 2011 19:22:17 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[financial]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=948</guid>
		<description><![CDATA[Should we rent or buy a house? A fairly quick and easy rule of thumb is (Price of a new home)/(monthly rent for equivalent home*12). As Dean Baker argues if the result is 15 or below then it makes financial sense to buy, otherwise renting is cheaper. For those who want more control over the [...]]]></description>
			<content:encoded><![CDATA[<div class="abstract">
Should we rent or buy a house? A fairly quick and easy rule of thumb is <span class="formula"><span class="fraction"><span class="ignored">(</span><span class="numerator"><i>Price</i> <i>of</i> <i>a</i> <i>new</i> <i>home</i></span><span class="ignored">)/(</span><span class="denominator"><i>monthly</i> <i>rent</i> <i>for</i> <i>equivalent</i> <i>home</i>*12</span><span class="ignored">)</span></span></span>. As Dean Baker <a class="URL" href="http://www.cepr.net/index.php/beat-the-press/owning-versus-rental-right-topic-wrong-math/">argues</a> if the result is 15 or below then it makes financial sense to buy, otherwise renting is cheaper. For those who want more control over the calculations see the New York Time’s <a class="URL" href="https://www.nytimes.com/interactive/business/buy-rent-calculator.html">rent vs buy calculator</a>. My own settings for the calculator are give below.

</div>
<span id="more-948"></span>
<div class="Description">
<span class="Description-entry">Mortgage rate</span> I go over to Bankrate.com and look up rates in my area. It lets me set things like credit score. I usually look at 0 points down. There are times when using points makes sense but for a rough calculation I’m not going to worry about it.
</div>
<div class="Description">
<span class="Description-entry">Property tax rate</span> For this I just go over to redfin and find a house for sale in the area I’m looking at. They list property tax data.
</div>
<div class="Description">
<span class="Description-entry">Annual home price change</span> This value is in nominal (e.g. not adjusted for inflation) terms. Since home prices generally go up at the rate of inflation I set this value to whatever I set the inflation rate to under advanced settings.
</div>
<div class="Description">
<span class="Description-entry">Annual rent increase or decrease</span> As <a class="URL" href="http://seattlebubble.com/blog/2011/03/16/are-seattle-area-rents-poised-to-shoot-up-again/">this article</a> quite reasonably argues rents usually go up roughly at the rate of household income. Yes, there are bumps in the road here and there but that is typically the over all rate. And household income usually goes up (at least in the last 30 years) at or below inflation. So again I’ll set this value to the value I use for inflation.

</div>
<div class="Unindented">
For the next settings press the Advanced Settings button. I generally leave the values in the Buying and Renting section alone. It’s the &ldquo;Other&rdquo; section that I adjust.
</div>
<div class="Description">
<span class="Description-entry">Rate of return on investments</span> This again appears to be a nominal value so I use 4 plus the inflation rate (e.g. a 4% return above inflation) for no particularly good reason.
</div>
<div class="Description">
<span class="Description-entry">Marginal tax rate</span> A quick search for &ldquo;income tax rates&rdquo; combined with the next year will usually turn up the right numbers.

</div>
<div class="Description">
<span class="Description-entry">Inflation rate</span> I usually use 3%.
</div>
]]></content:encoded>
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		<title>Parallels 7 vs VMWare Fusion 4</title>
		<link>http://www.goland.org/parallels_7_vs_vmware_fusion_4/</link>
		<comments>http://www.goland.org/parallels_7_vs_vmware_fusion_4/#comments</comments>
		<pubDate>Mon, 07 Nov 2011 01:20:14 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[reviews]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=939</guid>
		<description><![CDATA[I use a VM on my mac to run Windows for the sole purpose of using remote desktop to my work laptop. Yes, I know that Microsoft offers a free RDC client for the Mac. But the client doesn’t support multiple monitors on a mac and that’s a show stopper for me. I’ve been using [...]]]></description>
			<content:encoded><![CDATA[<div class="abstract">
I use a VM on my mac to run Windows for the sole purpose of using remote desktop to my work laptop. Yes, I know that Microsoft offers a <a class="URL" href="https://www.microsoft.com/mac/downloads?pid=Mactopia_RDC&amp;fid=68346E0D-44D3-4065-99BB-B664B27EE1F0#viewer">free RDC</a> client for the Mac. But the client doesn’t support multiple monitors on a mac and that’s a show stopper for me. I’ve been using VMWare Fusion 2 &amp; 3 for a bunch of years now and I can’t say I was ever really happy with it but it seemed to do the job. But I recently compared VMWare Fusion 4 to Parallels 7 and for my use case Parallels 7 is slightly better than VMWare Fusion 4 and with Parallel’s upgrade offer for VMWare Fusion 3 users it’s a no brainer in my opinion to switch to Parallels 7. So I have. More details below the fold.
</div>
<span id="more-939"></span>
<h1 class="Section">
<a class="toc" name="toc-Section-1">1</a> Keyboard Settings
</h1>

<div class="Unindented">
I have a Microsoft Natural Ergonomic Keyboard 4000 attached to my mac (I love that keyboard btw) and I want it to work exactly like a Windows keyboard when I’m in Windows. In Parallel’s case once I turned off all the Mac shortcuts the keyboard worked flawlessly. In VMWare’s case turning off all the shortcuts still left one odd behavior, VMWare switches my windows key and my alt key. To fix this I had to enable key mappings and turn off all the preset key mappings and create new key mapping that mapped the command key to alt and the options key to the windows key. Once I did that everything was fine. So I’d call the keyboard settings a tie.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-2">2</a> Running remote desktop
</h1>
<div class="Unindented">
Both applications can run remote desktop with LAN experience (e.g. with all the graphics and such) without problem. This is actually new because in VMWare Fusion 3 I constantly had failures if I tried to run remote desktop in full quality mode and had to turn things down. My general impression however is that Parallels runs remote desktop faster than VMWare Fusion 4 does. The difference is not huge but it’s just enough for me to notice it. So Parallels 7 wins this one.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-3">3</a> Full screen mode
</h1>
<div class="Unindented">
I live in full screen mode, that’s the whole point of the exercise, right? So switching from full screen back to my mac is something I want to be pretty flawless. Parallels has the design for this nailed. When running full screen the Windows VM looks like another desktop. When I want to switch back to my Mac I can just put the mouse at the bottom of the screen and the doc pops right. When I select a Mac application I am taken to my main desktop and I’m completely back in Mac land. Note however that from time to time Parallels seems to get confused and putting the mouse at the bottom of the screen won’t bring up the dock. I sometimes have to try one or two times to make it succeed. But in general it works pretty well.
</div>

<div class="Indented">
VMWare Fusion 4 also has a full screen mode but it’s really just a big app window, it’s not a separate desktop. So when I want to switch I have to minimize the screen. It’s really not a big deal but it’s just not as slick an experience as Parallels. I’ve also noticed on many occasions that when I maximize the screen VMWare Fusion 4 will forget about my second monitor. and won’t draw it in. But as soon as I click anywhere in the second monitor VMWare Fusion 4 instantly fixes things. This is actually a vast improvement over VMWare Fusion 3 where coming back from minimize was a gamble that often left my screen a hopeless mess that could only be fixed by switching out of full screen mode and back again.
</div>
<div class="Indented">
So, again, Parallels 7 wins this one.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-4">4</a> Price
</h1>
<div class="Unindented">
Upgrading from VMWare Fusion 3 to Parallels 7 costs <a class="URL" href="http://www.parallels.com/products/desktop/vmwareoffer/form/">$30</a>, although the Parallels 7 retail price is $80. VMWare Fusion 4 appears to cost $50.00, I couldn’t find upgrade pricing for existing VMWare Fusion 3 owners.
</div>
<h1 class="Section">
<a class="toc" name="toc-Section-5">5</a> Conclusion

</h1>
<div class="Unindented">
For my use case Parallels 7 is slightly better than VMWare Fusion 4.
</div>
<div class="Indented">
If I didn’t own either product I suspect I would buy VMWare Fusion 4. It’s street price of $50 is $30 less than Parallels 7’s $80 street price and I don’t think Parallels 7 is $30 better than VMWare Fusion 4. 
</div>
<div class="Indented">
But in my opinion it’s a no brainer to upgrade from VMWare Fusion 3 to Parallels 7 at $30 so that’s what I’ve done.
</div>

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		<item>
		<title>Social Security is doing fine</title>
		<link>http://www.goland.org/social_security_is_doingfine/</link>
		<comments>http://www.goland.org/social_security_is_doingfine/#comments</comments>
		<pubDate>Mon, 07 Nov 2011 01:08:22 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[financial]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=935</guid>
		<description><![CDATA[One of the discussions I have with friends that most seems to confuse them is when I say that Social Security is in great shape. They take it as an article of faith that Social Security is doomed. Now while I’ve long argued that Social Security will end up means tested this isn’t because the [...]]]></description>
			<content:encoded><![CDATA[<p>One of the discussions I have with friends that most seems to confuse them is when I say that Social Security is in great shape. They take it as an article of faith that Social Security is doomed. Now while I’ve long argued that Social Security will end up means tested this isn’t because the system doesn’t work or is running out of money, it’s rather my own belief in how politics will play out in the country. But regardless Social Security is doing fine now and into the foreseeable future. Salon recently had a reasonably simple <a class="URL" href="http://www.salon.com/2011/11/03/how_the_rich_created_the_social_security_crisis/singleton/">article</a> that explains why things really are fine and provides links to more in depth information for those who care.</p>
]]></content:encoded>
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		<item>
		<title>11/8/2011 &#8211; General and Special Election &#8211; Seattle, King County, Washington</title>
		<link>http://www.goland.org/11-8-2011-general-election/</link>
		<comments>http://www.goland.org/11-8-2011-general-election/#comments</comments>
		<pubDate>Sun, 30 Oct 2011 23:40:46 +0000</pubDate>
		<dc:creator>Administrator</dc:creator>
				<category><![CDATA[reviews]]></category>

		<guid isPermaLink="false">http://www.goland.org/?p=914</guid>
		<description><![CDATA[I can't say any of the candidates really got me all that terribly excited, it was mostly an exercise of picking who I hated least. As for the initiatives the only one that I think is really super critical is City of Seattle Proposition No. 1 which is the school tax levy. Initiative 1183 really [...]]]></description>
			<content:encoded><![CDATA[<p>I can't say any of the candidates really got me all that terribly
excited, it was mostly an exercise of picking who I hated least. As
for the initiatives the only one that I think is really super
critical is City of Seattle Proposition No. 1 which is the school tax
levy. Initiative 1183 really annoys the hell out of me and I hate
CostCo for putting it out there (I especially like the tax loopholes
they put in for themselves and the bans they put against their
smaller competitors) but as I explain below our dear government has
passed a lovely bill that I think is worse than 1183 so now I have to
vote for 1183.</p>
<ul>
	<li><p>Initiative Measure No. 1125 - No</p>
	</li><li><p>Initiative Measure No. 1163 - No</p>
	</li><li><p>Initiative Measure No. 1183 - Yes</p>
	</li><li><p>Senate Joint Resolution No. 8205 - Approved</p>
	</li><li><p>Senate Joint Resolution No. 8206 - Rejected</p>
	</li><li><p>County Directory of Elections - Mark Greene</p>
	</li><li><p>Port of Seattle - Commissioner Position No. 2 - Gael Tarleton</p>
	</li><li><p>Port of Seattle - Commissioner Position No. 5 - Dean Willard</p>
	</li><li><p>City of Seattle - Council Position No. 1 - Bobby Forch</p>
	</li><li><p>City of Seattle - Council Position No. 3 - Brad Meacham</p>
	</li><li><p>City of Seattle - Council Position No. 5 - Dale L. Pusey</p>
	</li><li><p>City of Seattle - Council Position No. 7 - Tim Burgess</p>
	</li><li><p>City of Seattle - Council Position No. 9 - Sally J. Clark</p>
	</li><li><p>City of Seattle Proposition No. 1 - Levy, Yes</p>
	</li><li><p>Seattle Transportation Benefit District - Proposition No. 1 -
	Yes</p>
	</li><li><p>Seattle School District No. 1 - Director District No. 1 -
	Sharon Peaslee</p>
	</li><li><p>Seattle School District No. 1 - Director District No. 2 -
	Kate Martin</p>
	</li><li><p>Seattle School District No. 1 - Director District No. 3 -
	Harium Martin-Morris</p>
	</li><li><p>Seattle School District No. 1 - Director District No. 4 -
	Marty McLaren</p>
</li></ul>
<p>Note: For brevity's sake I'm omitting any uncontested races.</p>
<span id="more-914"></span>
<h2 CLASS="western">Initiative Measure No. 1125 - No</h2>
<p>This initiative would let the legislature set tolls for toll
roads. This is really just a way to get rid of any new toll roads
since generally the folks who are willing to buy bonds secured
against toll revenue won't do so if the legislature can change the
toll at any time. That's why typically tolls have to be set by an
independent group according to some criteria that assures the bond
holders they will get paid. The initiative also bans variable tolls,
this means that time based road pricing isn't allowed. That makes it
impossible to use tolls to control traffic and also requires either
setting very low tolls or setting reasonable tolls and then keeping
them high on evenings and weekends. The initiative would also require
that all tolls be used on the highway in which they were collected
(an existing requirement) and cannot be directed to
non-transportation uses.</p>
<p>What I find particularly rich regarding the arguments against 1125
is that we can't let politicians set tolls. Why not? More to the
point, with our politicians so firmly in the pocket of moneyed
interests I feel pretty secure that they will set the tolls at
whatever level their financial masters dictate and this won't be any
different than an unelected 'independent' committee. I suspect the
real reason that politicians don't want to be on the hook for setting
tolls is because when the 'independent' committee raises the tolls
the politicians can just throw up their hands and say 'well the
committee did it'.</p>
<p>The Stranger claims the real purpose of this bill is to kill light
rail on I-90. That's fine with me. I remember Sound Transit
Proposition No. 1 and I <a HREF="http://www.goland.org/20081104GeneralElection/">voted
against it</a> because it did nothing substantial to help alleviate
traffic (and no, this isn't an attack on light rail, it's an attack
on how Washington does light rail).</p>
<p>But I'm actually not against tolling and I'm am for variable
priced tolling so unfortunately I have to vote against this
initiative as much as I would love some of the damage it would cause.</p>
<h2 CLASS="western">Initiative Measure No. 1163 - No</h2>
<p>This is another blast from the past that I voted against. This was
Initiative Measure No. 1029 that added extra certification
requirements for long term home care workers. As I argued <a HREF="http://www.goland.org/20081104GeneralElection/">then</a>
this measure was a bad idea since it seemed to mostly be about
keeping people out of employment as home care workers by putting in
place unnecessary barriers to entry. The main arguments made for this
initiative is that it mandates training (which is already mandated by
law) and mandates background checks (which are already mandated by
law). What would get me to vote for this initiative was proof that
the current training and background checks are inadequate. I haven't
seen any proof provided of either issue so I'm voting No.</p>
<h2 CLASS="western">Initiative Measure No. 1183 - Yes</h2>
<p>Education is a horrible thing. Things were so simple when I began
researching 1183. CostCo == Bad. They want to run small stores (under
10,000 sq ft) out of the business of competing with them on hard
liquor. They don't want to increase alcohol taxes enough to make up
for the damage that extra availability will do. And they want to
write themselves a really nice little tax exemption where they can
sell alcohol directly without the distributor mark up to re-sellers
so long as those re-sellers are selling the alcohol by the glass
(e.g. restaurants). Add to that the fact that CostCo tried to do the
same thing (more or less) last year and got rejected and that CostCo
has set a state wide record for funding an initiative and you have an
obvious slam dunk no.</p>
<p>But then SB 5942 enters the picture. This bundle of joy was signed
by the Governor on 6/15/2011. What it does is auctions off the right
to the state's monopoly on wholesale hard liquor to a private
distributor and closes down the state stores anyway. This private
distributor will apparently pay an up front fee in return for reduced
taxes. Having seen this 'sell off/rent back' nonsense before the
result is typically that well connected cronies get a sweet heart
deal and the state (meaning us) gets screwed.</p>
<p>So as much as I hate 1183 I am stuck voting for it since I think
SB 5942 will almost certainly make things worse than 1183 will.</p>
<h2 CLASS="western">Senate Joint Resolution No. 8205 - Approved</h2>
<p>Once upon a time someone couldn't vote in Washington State for
president or vice president unless they lived in the state for 60
days. But the U.S. Supreme Court ruled that voter restrictions
couldn't require more than 30 days of residency and the Washington
Constitution was changed to reflect that, except for the section
about voting for president and vice president. Because of the supreme
court ruling the president and vice president sections can't be
enforced so this remaining part of the constitution is a dead letter.
This resolution will remove that inoperative part of the Washington
State constitution. And yes I'm paranoid enough to have read both the
resolution and the relevant part of the Washington State constitution
and yes this resolution appears to do what it says.</p>
<h2 CLASS="western">Senate Joint Resolution No. 8206 - Rejected</h2>
<p>This is a continuation of SJR 8206 from 2007, which I <a HREF="http://www.goland.org/20071106KingCountyGeneralElection/">rejected</a>.
It wants to create a rainy day fund and force state money into it.
This particular extension requires that any time state revenue grows
'too quickly' the surplus has to go into the rainy day fund. My logic
is the same now as then. If there is extra money, let's leave it with
the people and when times are bad lets have deficit spending. It's
perfectly reasonable for the state to go into debt during bad times
to pay for services and then pay back the debt during good times.
This is certainly more sensible than handing billions of dollars over
to the state to sit on instead of keeping it in citizen's pockets.
Now I do appreciate the argument that in practice if revenues
increase our state will just spend them. But locking that money away
won't work, what our representatives pass during downtimes they will
undo during good times. So if we are going to have meaningful reform
of our tax system it won't come from locking away our money.</p>
<h2 CLASS="western">County Directory of Elections - Mark Greene</h2>
<p><b>Mark Greene</b> - O.k., let's be honest. Mr. Greene is kinda
'out there'. His <a HREF="http://www.brandnewelections.us/">web page</a>
struck me as a bit on the conspiracy side. And having held no
elective office at any level (despite multiple tries) and having no
apparently significant executive experience I don't think one can
really say he is qualified for the position. But I just can't bring
myself to vote for Ms. Huff for reasons I will describe below. So Mr.
Greene it is.</p>
<p><b>Sherril Huff</b> - By all accounts Ms. Huff is quite competent.
But the director of elections position was actually created as a
response to King County's undemocratic decision to switch to an
exclusively vote by mail system thus open endless doors for vote
fraud and coercion at every step of the process. As the director of
elections I would expect her not to boast, as she has in her
materials, of how well she implemented vote by mail and thus removed
our democratic rights but rather how she tried to fight it every step
of the way. And yes, I realize to some extent that is unfair but when
you take on a job as protector of elections I expect you to do that
job to the full, including lobbying to get unfair and undemocratic
election rules changed.</p>
<h2 CLASS="western">Port of Seattle - Commissioner Position No. 2 -
Gael Tarleton</h2>
<p><b>Richard Pope</b> - I was going to give Mr Pope some credit for
cleaning up his act, his candidate statement was entirely reasonable
on its face. But then I went to his website and its advertising his
election from 2006.</p>
<p><b>Gael Tarleton</b> - By all accounts an outstanding commissioner
who has increased transparency, environment friendliness and the over
all effectiveness of the port. Of course I voted <a HREF="http://www.goland.org/20070821KingCountyPrimaryElections/">against
her</a> in 2007 but oh well.</p>
<h2 CLASS="western">Port of Seattle - Commissioner Position No. 5 -
Dean Willard</h2>
<p><b>Dean Willard</b> - Mr Willard's main qualification seems to be
that he isn't Mr. Bryant. Willard is quick to point out that Mr.
Bryant approved a 9% pay increase for the port CEO while the rest of
the staff are capped at 3.5%. That Mr. Bryant voted against the Clean
Ports Act of 2010 and that Mr. Bryant is planning on running for
governor so how committed is he to the job anyway? But Mr. Willard's
site has almost nothing useful to say about what Mr. Willard will do
beyond some platitudes regarding jobs, the environment and
accountability. In the end I'm going to vote for Mr. Willard but only
because anyone insane enough to openly associate themselves with the
Republican party anywhere near Seattle deserves a drubbing.</p>
<p><b>Bill Bryant</b> - In addition to the negatives listed above I
have an <a HREF="http://www.goland.org/20070821KingCountyPrimaryElections/">extended
list</a> available from the last vote for Port of Seattle position
No. 5.</p>
<h2 CLASS="western">City of Seattle - Council Position No. 1 - Bobby
Forch</h2>
<p><b>Jean Godden</b> - She is strongly pro-tunnel and I am strongly
anti-tunnel so really I'm just looking for an excuse to vote against
her. But no, I'm not a one issue voter so that on its own isn't
enough. The muni league gave her 'good' while her opponent got 'very
good'. That's worth something. Her website is pretty much content
free so that didn't help.</p>
<p><b>Bobby Forch</b> - The only part of his website that seemed to
have any substance was his police plan which honestly was fairly
milquetoast, re-affirming the chief, having an anonymous tip line,
letting a civilian on the fire arms review board, etc. They are all
good ideas but I don't see any of them really changing, for example,
what happened in the battle in Seattle. I also have no idea where he
stands on the tunnel. Neither candidate has said much that is really
clear or useful and I think Ms. Godden's track record is pretty
impressive but I'm willing to give Mr. Forch a chance and maybe see
some progress in helping Seattle to have a world class police
department that serves its people.</p>
<h2 CLASS="western">City of Seattle - Council Position No. 3 - Brad
Meacham</h2>
<p><b>Brad Meacham</b> - In reading his various comments the only
mildly interesting thing he said was that he wants to move to
district based elections for the city council (something I think is a
good idea). Honestly I can't find anything really conclusive between
either candidate so I'll go for Meacham on the general principal that
if you are in office and can't convince me you did something useful
then you need to be out of office.</p>
<p><b>Bruce Harrell</b> - I'm very concerned about the accusations
made against Mr. Harrell that he doesn't show up for council
meetings. I don't want to elect someone who won't show up for the
job. Then there is the question of his support around paid sick
leave. His signature issue is putting cameras on cops, while this may
be a good idea I'd like signature issues like fixing our libraries,
our streets, our schools, etc.</p>
<h2 CLASS="western">City of Seattle - Council Position No. 5 - Dale
L. Pusey</h2>
<p><b>Dale L. Pusey</b> - His candidate statement is a typical &quot;they
are all screwed up so try me&quot; line. On the other hand his
<a HREF="http://www.dalepusey.com/">website</a> actually has some
concrete things to say. His argument against the $60 car tab proposal
makes sense even if I don't totally agree. It's clear that Mr. Pusey
does not have the experience for this job. And yes the Muni league
rated him as not qualified, which is probably true. But as I watch
house break ins all over my neighborhood, see our schools going down
the drain, have already given up on our libraries and sit stewing in
traffic with no real alternatives I'm willing to give someone else a
try. So Mr. Pusey gets my vote.</p>
<p><b>Tom Rasmussen</b> - His candidate statement has something to do
with kissing babies and hugging puppies. His <a HREF="http://tom4seattle.com/">website</a>
was even less useful. And of course he was a major force behind the
tunnel thanks to his position as the chair of the transportation
committee. Yeah, Yeah, I know, he'll win anyway. My job is not to
vote for who is going to win (believe me on that one, if it was I
would have been fired a long time ago) but who I dislike least
(sigh...)</p>
<h2 CLASS="western">City of Seattle - Council Position No. 7 - Tim
Burgess</h2>
<p><b>David Schraer</b> - His candidate statement had something to do
with hugging trees. Oh and he loves the tunnel. Ugh. I really liked
that he posted a link to the questionnaires he has filled out, major
bonus points. But I read the one from Seattle Public Library and it
was completely content free.</p>
<p><b>Tim Burgess</b> - His candidate statement hit most of my
issues, schools, safety and transportation. If he had thrown in the
library it would have been a perfect hit. Except he is the chair of
the public safety committee and the rash of home burglaries in my
neighborhood have made me feel especially unsafe. On the other hand
he pushed the school levy which I guess means he actually did hit all
of my hot topics. On the job he has put in a residential treatment
program for at risk kids, got rid of the employee head tax, pushed
the Levy and other fun things. So it seems like he might have
accomplished something. So I'll vote for him.</p>
<h2 CLASS="western">City of Seattle - Council Position No. 9 - Sally
J. Clark</h2>
<p><b>Sally J. Clark</b> - Her candidate statement had something to
do with building, building and more building. Honestly I think she'll
do a terrible job but I'm tired of incumbents who don't seem to do
anything so if I have to pick between two do-nothings I'll try the
new one.</p>
<p><b>Dian Ferguson</b> - She is as content free as Sally J. Clark. I
actually voted for Ms. Ferguson in the primaries but I've decided on
a new guidelines regarding incumbents. If they haven't done something
interesting while in office then unless their opponents are certified
wing nuts I will vote for their opponents. So I'm voting for Ms.
Clark. How's that for an endorsement?</p>
<h2 CLASS="western">City of Seattle Proposition No. 1 - Levy, Yes</h2>
<p>This is a levy against property taxes in the city of Seattle to
provide additional funding to Seattle's schools. Funding for
Seattle's schools is always a tricky proposition given their history
of criminality and incompetence (do a search for &quot;fraud seattle
school district&quot; and bring a coffee, you'll be there for a
while). But let's look at a <a HREF="https://encrypted.google.com/url?sa=t&amp;rct=j&amp;q=the superintendent's recommended operation budgets for fiscal year 2010-2011 seattle public schools&amp;source=web&amp;cd=3&amp;ved=0CCkQFjAC&amp;url=http://www.seattleschools.org/modules/groups/homepagefiles/cms/1583136/File/Departmental%20Content/budget/rbook12.pdf?sessionid=e8ab96c1f5a42cebe4ab6855d4bfe3c3&amp;ei=otqsTpOqGZDYiAKl5bnyCg&amp;usg=AFQjCNGcxuqPADxRNsTszl-bI-ps5HjwCg&amp;cad=rja">few
numbers</a>. Seattle's projected FY11 budget is $577.7 million (see
page 44) to serve 47,000 students. And keep in mind that this budget
was put together before the governor's <a HREF="http://today.seattletimes.com/2011/10/school-officials-governors-budget-proposal-devastating/">proposed
cuts</a> in school funding. That works out to around $12,300/student.
To put that in perspective a high end private school in Seattle costs
around $15,000 in tuition plus another $2,000 or so in 'voluntary'
mandatory donations.</p>
<p>So it might seem, thanks to economies of scale, that we should
have enough money for students and not need any more. But
unfortunately this is an apples to oranges comparison. Private
schools don't have to deal with any form of 'problem' student.
Special needs students of any type from physical to mental will
generally not get into a private school. And private schools don't
have to worry about breakfast and lunch programs for poor children,
transportation to school, extra resources for remedial education,
etc. So in fact it's quite possible that once you add it all up the
average per student in public schools should actually be more than a
private school because the private school simply doesn't have to
carry the burden that public schools do.</p>
<p>So this argues to me pretty pervasively that whatever Seattle
School's myriad problems they need the money, but they might not be
spending it appropriately. But that's a separate subject. So I'm
voting yes.</p>
<h2 CLASS="western">Seattle Transportation Benefit District -
Proposition No. 1 - Yes</h2>
<p>This would increase car tab fees by $60 to pay for a mixed bag of
improvements to the transport infrastructure. My main problem with
this proposal is that it's so painfully regressive it hurts. How the
heck does it make any sense to charge everyone from those driving a
junker to those with a new high end car the same amount of money?
Now, one could argue that they both take up the same space (but if
that's the argument shouldn't we charge by car size?) but tons of
funding in this proposal goes to things that having nothing to do
with cars, like sidewalks. But The Stranger, of all people, actually
made to me the most compelling argument for voting yes for this
proposition (besides the three ways), that we've screwed bus
passengers with massive rate increases over the last several years
far worse than we are screwing drivers with tab increases so it's
time to share the pain. I still think it's wrong to pass something so
regressive but on the list of monumental sins the amount is
relatively small so I'll go with it.</p>
<h2 CLASS="western">Seattle School District No. 1 - Director District
No. 1 - Sharon Peaslee</h2>
<p><b>Peter Maier</b> - In his candidate statement his main claim to
fame is firing the superintendent, which given the situation, is a
pretty good claim to have. His website was unfortunately content
free.</p>
<p><b>Sharon Peaslee</b> - Her candidate statement has the standard
'clean up the mess' claim but in terms of past history she claims to
have helped break Lake Washington and Bellevue School Districts of
their idiotic math curriculum, another good claim. Her website
actually had some crunchy things to say in terms of flattening
hierarchy, giving teachers more flexibility in curriculum, a good
list of frauds perpetrated by the school district, etc. But honestly
just her willingness to go after Discovery math makes me really happy
so she gets my vote.</p>
<h2 CLASS="western">Seattle School District No. 1 - Director District
No. 2 - Kate Martin</h2>
<p><b>Sherry Carr</b> - She claims credit for neighborhood-based
student assignment. I'm both happy and sad about that. I'm happy
because when someone moves to a location I think it's fair that they
should know where their kid is going to school. A system where you
can't be sure where you kid will go is unacceptable. At the same time
I recognize that neighborhood based assignment means that poor kids
go to poor schools and rich kids go to good schools. But still, on
balance, as a parent, I think I have the right to know that if I live
in neighborhood X then my child will attend school in neighborhood X.
In looking at her website though she doesn't have anything to say
about how the various financial frauds weren't her fault. And in
general I didn't find much substantive on her website.</p>
<p><b>Kate Martin</b> - I suspect Ms. Peaslee and Ms. Martin are at
least comparing notes, their candidate statements look fairly similar
in terms of key points. I read her website but it was less direct
than Ms. Peaslee's, it was mostly 'teach kids stuff' from what I
could read. So following my general rule that incumbents without
impressive accomplishments and detailed plans get kicked out so long
as their opponent isn't a wing nut (and Ms. Martin is not a wing nut
from what I can tell) means my vote goes to Ms. Martin.</p>
<h2 CLASS="western">Seattle School District No. 1 - Director District
No. 3 - Harium Martin-Morris</h2>
<p><b>Harium Martin-Morris</b> - He seems mostly famous for having
voted against a bunch of bone headed things that the school board
wanted to do, which again, is nice. Of course he still lost all the
votes. And his website and candidate statement are content free.</p>
<p><b>Michelle Buetow</b> - As content free as Mr. Martin-Morris's
candidate statement and website are Ms. Buetow's is vacuous. It
doesn't take much to get me to vote against an incumbent but Ms.
Buetow didn't even meet that level. So Mr. Martin-Morris gets it by
default.</p>
<h2 CLASS="western">Seattle School District No. 1 - Director District
No. 4 - Marty McLaren</h2>
<p><b>Steve Sundquist</b> - Wow, good shot mentioning your
relationship to the Democratic party right at the top of your
candidate statement for a supposedly non-partisan position. That's
ethics baby! I also liked the throw in about his church. Because hey,
being active in the Church is super relevant for the position. Or
maybe it is and that should be something I should be worried about?
The rest of his candidate basically says how wonderful the board has
been doing, you know, the same board that screwed the pooch left,
right and center. Sigh...</p>
<p><b>Marty McLaren</b> - She throws in her Democractic party
association but much less strongly that Mr. Sundquist on her
candidate statement. And she actually takes credit for the horrible
2008 math standards (you know, Discovery math). So really, neither
choice is giving me much joy but oh well I'll vote against the
incumbent, so Ms. McLaren gets my vote.</p>]]></content:encoded>
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