Doing our shopping I always glance at the newspaper headlines. I was first of all stunned by the Daily Express and then unsure whether to laugh or cry. They cite the good growth figures pre Brexit as proof that Brexit is working. This is so untrue it defies any sane interpretation.
The truth appears to be that the stock market has done fairly well but the real economy very badly. The odds on a recession are 50:50. Certainly there was a remarkably positive reaction once the initial dismay was past but no one seriously foresees anything but trouble.
It is worth noting that one reason for the "make the most of what we've got" reaction in business is that Theresa May is a reasonably sane PM and so is Hammond as Chancellor. The real loonies didn't get too close although Liam Fox is a likely trouble maker. I see that he is still suffering from pre referendum illusions although I'm not sure how he will react when exposed to reality.
The Leavers have had a bonus in that the plunging pound has been matched by sliding oil prices so fuel prices are not changing much.
The stock market reaction is actually more nuanced than indices appear. Companies which mainly trade in the UK are down except where they are regulated utilities. There has been a flight to the relative safety of the regulated utilities.The international companies like Unilever which earn almost all their money overseas may profit from a lower pound and have done well. Actually Unilever which accounts in euros isn't a good example, better would be somebody such as Rolls-Royce.
Thursday, 28 July 2016
Wednesday, 27 July 2016
No Highway
Our U3A
bookgroup has decided, at my suggestion, to periodically choose a book outside
the Staffordshire Libraries reading lists. I chose No Highway by Nevil Shute
partly because of the interesting story which surrounds it. The book describes
the investigation into the then little known subject of metal fatigue. Although
a good tale about the investigation it
was lent great topicality by surrounding events. The fictional scientist concerned is so
worried about the safety of the new airliner he is investigating that he
retracts the undercarriage on the ground to prevent it flying. In the story he
is eventually vindicated, marries an air stewardess and all ends happily.
At that time (early fifties )
air travel was expensive, noisy, slow and gave a lot of vibration. The piston
engine airliners of the time such as the Lockheed Constellation and the Boeing
Stratocruiser lacked the range to fly to the US non stop. It was normal to
refuel at airports like Shannon on the west coast of Ireland or Gander in
Newfoundland. The pride of British Aviation was the world’s first jet airliner,
the Comet. Much faster and much less vibration, airlines were queueing up to
buy. It entered service in 1952.
After
surmounting initial teething problems there were two major crashes, one in the
Mediterranean and one off Calcutta. Amid great consternation the Comet was
withdrawn from service and a giant investigation began. Known by the last
letters of their registration Yoke Uncle and Yoke Peter had become notorious.
A giant water
tank to take a complete fuselage was built at Farnborough and cycled through
pressurisation. It was found that metal fatigue had resulted in cracks at the
corners of the square windows. The major US manufacturers armed with this
knowledge introduced jet airliners later in the fifties ( the Boeing 707 became
the most famous ) and swept the world market. Although the Comet was redesigned
and rebuilt its moment had gone and only trivial numbers were sold.
Shute’s book
was held to foreshadow and dramatise the previously little known area of metal
fatigue. Before his writing career Shute was an aircraft engineer and his book
has plenty of technical detail.
The British
aviation industry never again built a really successful airliner. While Rolls
Royce is presently one of the top three world engine manufacturers otherwise
the British industry is a bit part player. At present Airbus wings are partly
made in the UK although even this is in doubt after Brexit.
Saturday, 16 July 2016
Whitby saga
Some time ago
I said we were buying a flat in Whitby. We have changed horses in mid stream
and now we are buying another one and dropping the first. It has all come about
in a strange way which I can only describe by telling the full story.
In January
while we were on holiday Martin and Lindsey saw flats advertised which they
thought would suit us in an old property in the centre of Whitby. The property,
built in 1816, stands on a ridge and looks over the west of Whitby, the Esk
river and over to the start of the North York Moors. As soon as we returned we
went up to view the two flats for sale, one on the ground floor, one on the
first floor immediately above.
Alex had
noted that from the upper flat he could see the station and the occasional service
out along the North York Moors Railway. The upper flat was still occupied but
was rather larger than the ground floor flat which, although nominally with two
bedrooms, the second was very small and could have only accommodated bunk beds
or one single bed.
We decided to
bid for the upper flat but found we were in a bidding battle with another
prospective purchaser. We made what we thought was a knock out bid,
considerably more than the asking price, because the property appeared to meet
all our requirements, Annette was keen so we stretched to the limit. We were
devastated to find we were the losing bidder and withdrew hurt.
After a month
we decided that we would compromise on the ground floor flat. It had much the
same view ( from a lower level of course ) and we decided that the pro’s
outweighed the cons. We were also caught by the new tax on property for rent
which came in April.
We then
proceeded with all the usual enquiries etc. and were nearing contract exchange
when the estate agent phoned to say the original successful bidder for the
upper flat had pulled out and asking if we were still interested. Within a
couple of days we decided to bid again for the upper flat. We were able to buy
the survey they had done ( which was reasonably OK ) and decide they had fair
reasons to pull out. They already occupy a large upper floor maisonette on Whitby sea front
and were looking to downsize and move to ground level.
We have just
been to see the upper floor flat which we last saw in early February and satisfy
ourselves it is the property we want. Basically it has a largish living room,
two bedrooms ( both en suite ) no principal bathroom but a decent sized
kitchen. Lindsey came with us and made some important suggestions. The second
bedroom ( actually over part of the entrance hall ) isn’t large and probably
will only comfortably fit a double bed while the main bedroom is L shaped, will
take two single beds and a work desk or table with ease.
The house (
essentially a massive Georgian semi ) as a whole is 2 star listed and was split
into six flats about 10 years ago after a long stint ( with internal
communication to the next door property) as municipal offices.
The entrance
hall and staircase is rather grand, wide, and sweeping up to a large landing.
Entrance to two other flats, one at roof level and one to the rear is from this
large landing. Our choice is also off this landing. In addition there is a
basement flat and rear ground floor flat. The property stands on a ridge with
the ground falling away sharply to Pannett Park just across the road from the
property. Access by car is from the rear and there are wide steps to the side
up from the main road. Just by the house proper are two flats at ground floor
level, possibly originally stables.
Hopefully
much of the legal work will read over and we should proceed to exchange quite
quickly now.
Friday, 8 July 2016
The commercial
Not a normal blog just to advertise Alpha Arts and Crafts. Son Martin has the cottage part of his house available for holiday letting. Details are on his website- AlphaHolidayCottage. A tab on this directs you to Alpha Crafts and Art.
Checking this out it seems to be all the larger more expensive work. Much is available as cards at a cheaper price ( much cheaper at 4 for £5). I think maybe the information is on Etsy. The cards have pretty much the same images as the larger works.
Normal service will be resumed.
Checking this out it seems to be all the larger more expensive work. Much is available as cards at a cheaper price ( much cheaper at 4 for £5). I think maybe the information is on Etsy. The cards have pretty much the same images as the larger works.
Normal service will be resumed.
Wednesday, 6 July 2016
Culture Wars
Coined to
describe some recent American battles in the social sphere it seems probable
this is coming, if not already here, in the UK. To describe one aspect of these
battles there is a very vicious one over abortion. The word is avoided and the
two sides describe themselves as pro-choice ( pro abortion ) and pro-life (
anti abortion ). There are culture wars in many other aspects of social policy
such as drugs and pornography.
It has long
puzzled me why the US has on one hand a very strait laced religious society and
on the other the most permissive environment to pornography. The American
situation is not helped by the Supreme Court referring back to the constitution
which for the most part is nearly 250 years old written at a time when nothing
approaching a 21st century society was foreseen. While the Supreme
Court has a wide remit in interpreting the constitution it is also a
politicised body. Thus free speech is interpreted as permitting almost
anything.
The American
impasse is vividly shown in the attitude to guns. While mass shootings have
become almost commonplace the right to bear arms is enshrined the constitution
and supported by a large gun lobby.
How might
this translate to the UK. Race is never far below the surface in America and
despite the supposed British tolerance I suspect the same here. The Leavers
very successfully exploited the race card in the recent referendum. Islamic
extremists are doing their best to increase religious divisions and one has to
say having some success. Because religion and race are closely linked in
Britain it is easy for divisions to exist. Although most white indigenous
Britons are only nominal Christians we do have a Christian culture where grafts
from other religions ( eg over festivals
) are awkward and resented by some.
The UK split
was very vividly shown in the recent EU referendum. This has shown us split
old-young, north-south, educated- less educated. The strength of feeling
aroused will not quickly go away.
And then we
have good old fashioned nationalism. Not yet a cultural divide but one of
difficulty in Scotland and Northern Ireland for anyone who values the united in
United Kingdom.
Other
cultural battlegrounds seem certain: pro or anti nuclear power, pro or anti
high speed rail, pro or anti wind farms and pro or anti fracking just to select
a few topics arousing strong opinions. Although debate may appear superficially
to be rational you don’t need to look too closely to see raw emotions.
One cultural
issue which I feel strongly about is the supernatural. Probably a majority of
the population believe in some sense of the supernatural ranging through a
spectrum of “fairies in the bottom of the garden” through to “ there are things
we don’t know”. Yes there are many things we don’t know but ghoulies and ghosts
aren’t one of them. Give me evidence and I’ll believe but the evidence just
isn’t there.
Sunday, 3 July 2016
Artificial Intelligence
I must talk a
bit more about the referendum. Reading
more about the vote I see it was more nuanced than I thought at first. While
immigration was the dominant feature there was also a inarticulate cry of anger
by those who feel disadvantaged. A sort of “sod you, I’ll be poorer but you’ll
be worse off “. This was not just about the EU but an inarticulate shout
against social liberalism.
However onto
the main topic, Artificial Intelligence
There has
been much hoo-ha about this in recent months. Hopefully I can set out what is
achieved and make some guesses about the future. Artificial Intelligence ( AI )
has been of research interest for years and until recently had disappointed.
However since 2011 or so AI has come along in a spectacular fashion.
This is down
to the use of neural networks. These networks, simulated in software, take
information and process it through nodes called neurons which have a weighted
interaction with other neurons. Crucially these weights ( or probability of
transmitting a signal ) can be modified by the input data. Essentially an AI
system consists of an input layer, several neuron like layers( can be dozens or
more ) and an output layer. The neurons, or brain like cells, are simulated in
computer software.
I was
involved in using a neural network to try and develop water based corrosion
preventives. We bought the network as a package and fed in the results of
systematically changing the formulation. Then based on the output we hoped to
be able to “tune” the formulation. It was a failure. The output seemed
sometimes counter to what our prior knowledge told us. The system was
effectively a “black box”; in other words we had no means of knowing why the result
was obtained. Modern day thinking would be that we simply provided the network
with a completely inadequate stock of information.
From the
Economist supplement on AI it seems that the breakthrough idea is to develop a
neural network and then train it on gigantic amounts of information. It is the
internet which allows ready access to these huge amounts of information and low
cost computing which enables the networks. For example the first success was
based on image recognition. Vast numbers of portraits were scanned and the AI
can sort out say images of men with moustaches. This can be achieved by asking
the AI system to simply organise the images by their salient features.
Alternatively the fine tuning of the network can be achieved by first picking
out a small subset and then telling the AI when it’s right or wrong. A well
tuned AI is better than a human.
While these
AI can be hugely impressive it is also important not to think they are both
powerful and versatile. So far AI seems to be directed at some particular task
and a multi- purpose AI is probably decades away. Even so there has been some
adverse comment. A few, including eminent scientists, have seen a risk that an
AI could plan an even better AI and eventually outpace humanity. This is the stuff
of science fiction and far away from present capabilities. A more immediate
objection is that AI could displace people doing routine but skilled jobs. For
example radiographers examining X-ray pictures for signs of disease could be
supplanted by AI which would be better at the job. The other obvious advantage
being that the AI would not suffer any distraction and could work 24 hours a
day.
There is the
usual fear that any type of automation would displace workers. However history
tells us that new types of work better suited to human skills arises. Our
economic life is an ever evolving dynamic system. Just to take an almost
trivial example both my son and son-in-law work in IT in jobs which were simply
unknown when I was young. The problem, if there indeed is one, will be the
speed at which change may happen. It is a truism of modern life that simply
training and then using that knowledge for a working life is no longer
adequate.
I can readily
see that despite years of training in my own young life it was still necessary
to learn new things through my career. Increasingly we must see that education
is about learning how to learn not about learning a particular subject.
Education is also about providing a framework on which continued learning can
hang.
It is easy to
write about flexibility in working. It is not so easy in practice. Try telling
an unemployed 50 year old who has done one thing all his working life there is
a skills shortage. But there is a skills shortage and nationally we ignore this
at our peril. I’m very pleased that even in our local primary school I see that
learning is more attuned to the future. I’m afraid it is all too easy to wish
the world would stop changing but change it will. I can’t see clearly what
impact AI will have. It will be profound and may be faster than is comfortable.
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