The Big Think

October 24, 2014

High Wire

Filed under: Maker,Science — jasony @ 11:21 pm

Well, that record didn’t last.

Alan Eustace Jumps From Stratosphere, Breaking Felix Baumgartner’s World Record – NYTimes.com:

“‘To break an aviation record is incredibly significant,’ said Mark Kelly, the former astronaut, who viewed Mr. Eustace’s ascent. ‘There is an incredible amount of risk. To do it safely is a testament to the people involved.’

Mr. Eustace’s maximum altitude was initially reported as 135,908 feet. Based on information from two data loggers, the final number being submitted to the World Air Sports Federation is 135,890 feet.

The previous altitude record was set by the Austrian daredevil Felix Baumgartner, who jumped from 128,100 feet on Oct. 14, 2012.

Mr. Eustace was carried aloft without the aid of the sophisticated capsule used by Mr. Baumgartner or millions of dollars in sponsorship money. Instead, Mr. Eustace planned his jump in secrecy, working for almost three years with a small group of technologists skilled in spacesuit design, life-support systems, and parachute and balloon technology.

He carried modest GoPro cameras aloft, connected to his ground-control center by an off-the-shelf radio.”

Can’t Afford a House? Don’t Buy One

Filed under: Education — jasony @ 8:48 am

Can’t Afford a House? Don’t Buy One: “When legislators and activists say that we need low-down-payment loans because most people couldn’t possibly save up for a 20 percent down payment, what they’re really saying is that people can’t actually afford to buy a house. Helping them to go buy one anyway is not a great idea; it will work out well for some, to be sure, but it will have tragic consequences for others, and for the housing market as a whole if there’s another downturn. We just spent six years learning, the very hard way, that you can’t borrow yourself rich. That knowledge is too expensive to throw away so easily.”

Remember in 2008 when everyone had just discovered that all those sub-prime and low/no-doc mortgages were the cause of our economic wreckage? Well:

The Center for American Progress: “We shouldn’t obsess about down payments,” said Julia Gordon, director of housing policy. “Research confirms that low-down-payment loans to lower-wealth borrowers perform very well if the mortgages are well-underwritten, safe and sustainable.”

Hello? Hello? History is calling and wants its lesson back. It was wasted on you.

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