Your guide to Inflation

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Everyone now seems to be talking about it. And everyone must have an opinion about it.
So, here comes Harshal again to help you out from the misery of watching mutely while others are showing off their knowledge on.. INFALATION!
Check out this link and get your basics right about the inflation. This article will tell you about how is inflation measured, why prices are rising and what your investment strategy should be.

You must know how Inflation is affecting life around you. This article will tell you about the impact of raising oil prices, impact on agriculture, change in market structure and the similar stuff.
Finally, its time to calculate how Inflation is affecting YOU. Check it out here.
So next time you see a group of people blaming government about rising prices, you know how to shut their mouths.

Forget bad roads, we may not need them!

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Forget bad roads, we may not need them!

If analysts at Goldman Sachs are to be believed, we may soon be paying hundred rupees for a litre of petrol! Their latest super-spike oil theory (first propounded in 2005) suggests that a resurgent US economy coupled with a major oil supply disruption (another mess in the Middle East) could well jack up crude prices to 200 dollars a barrel.

Anaylsts Arjun Murti, Kevin Koh and Michele della Vigna believe that average selling prices for 2008 could hover around 135 dollars a barrel and rise by 10-15 dollars a year. In their earlier report, Goldman Sachs had put the average prices at 95 dollars, 105 dollars and 110 dollars a barrel for 2008, 2009 and 2010 respectively.

Also Read:Crude crosses $100, India Inc upset

So, if the Americans are trying to change their extravagant lifestyle, should India be following suit since we have already toed the US line by expanding road-based commute while ignoring mass rapid transport systems? If Goldman Sachs’ prediction does hit bulls-eye once again, we may well end up walking in to work as unlike the Americans who can draw on their huge oil reserves, we will not have enough oil or enough money to import the petrol that would be required to tank up our vehicles.

As for the Americans, they have already started blaming rapid growth in India and China for their predicament. The United States may be using ten times as much gasolene as India, thanks to their gas-guzzling cars like the Hummer, but then the developing countries are routine scapegoats for anything that’s going wrong. Remember…they ask us to cut down on carbon monoxide emissions, while they themselves continue to pollute with impunity.

Maybe, its time that some of us get off our cars and bikes and cycle to work. And those staying close by (within a five-km radius) could actually saunter in to work after a heavy breakfast!!!

Source: India Syndicate

Vote for your 7 wonders

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Update: Taj made it to the TOP 7 ! Hurray !!
 
Taj is my favorite but i’d love to see Egypt Pyramids in the list.
Take a tour through all the 21 contenders..
 

26 Reasons What You Think is Right is Wrong

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A cognitive bias is something that our minds commonly do to distort our own view of reality. Here are the 26 most studied and widely accepted cognitive biases.

  1. Bandwagon effect – the tendency to do (or believe) things because many other people do (or believe) the same. Related to groupthink, herd behaviour, and manias. Carl Jung pioneered the idea of the collective unconscious which is considered by Jungian psychologists to be responsible for this cognitive bias.
  2. Bias blind spot – the tendency not to compensate for one’s own cognitive biases.
  3. Choice-supportive bias – the tendency to remember one’s choices as better than they actually were.
  4. Confirmation bias – the tendency to search for or interpret information in a way that confirms one’s preconceptions.
  5. Congruence bias – the tendency to test hypotheses exclusively through direct testing.
  6. Contrast effect – the enhancement or diminishment of a weight or other measurement when compared with recently observed contrasting object.
  7. Déformation professionnelle – the tendency to look at things according to the conventions of one’s own profession, forgetting any broader point of view.
  8. Disconfirmation bias – the tendency for people to extend critical scrutiny to information which contradicts their prior beliefs and uncritically accept information that is congruent with their prior beliefs.
  9. Endowment effect – the tendency for people to value something more as soon as they own it.
  10. Focusing effect – prediction bias occurring when people place too much importance on one aspect of an event; causes error in accurately predicting the utility of a future outcome.
  11. Hyperbolic discounting – the tendency for people to have a stronger preference for more immediate payoffs relative to later payoffs, the closer to the present both payoffs are.
  12. Illusion of control – the tendency for human beings to believe they can control or at least influence outcomes which they clearly cannot.
  13. Impact bias – the tendency for people to overestimate the length or the intensity of the impact of future feeling states.
  14. Information bias – the tendency to seek information even when it cannot affect action.
  15. Loss aversion – the tendency for people to strongly prefer avoiding losses over acquiring gains (see also sunk cost effects)
  16. Neglect of probability – the tendency to completely disregard probability when making a decision under uncertainty.
  17. Mere exposure effect – the tendency for people to express undue liking for things merely because they are familiar with them.
  18. Omission bias – The tendency to judge harmful actions as worse, or less moral, than equally harmful omissions (inactions).
  19. Outcome bias – the tendency to judge a decision by its eventual outcome instead of based on the quality of the decision at the time it was made.
  20. Planning fallacy – the tendency to underestimate task-completion times.
  21. Post-purchase rationalization – the tendency to persuade oneself through rational argument that a purchase was a good value.
  22. Pseudocertainty effect – the tendency to make risk-averse choices if the expected outcome is positive, but make risk-seeking choices to avoid negative outcomes.
  23. Selective perception – the tendency for expectations to affect perception.
  24. Status quo bias – the tendency for people to like things to stay relatively the same.
  25. Von Restorff effect – the tendency for an item that “stands out like a sore thumb” to be more likely to be remembered than other items.
  26. Zero-risk bias – preference for reducing a small risk to zero over a greater reduction in a larger risk.

Oh and, by the way, you’ll never be able to truly gauge any of the biases you might be operating under since it’s not possible to accurately observe a system you’re part of. Now, get out there and delude yourself!

11 Ways To Sleep Better

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Those who know me, will not be surprised with this post, as i’m notorious for sleeping till late afternoons.
I can get up late, sleep in the noon and then go to bed early in the night too!!
Some people say i’m lucky, but some just kick my butt and go to any length to wake me up.
One of them is my girlfriend, who calls me at any time in the night. Yes, any time. But wise people always swich their cells off while sleeping 🙂Sleeping Better
I came across this site which might help those poor souls who just can’t sleep better.
Check it out..

"Studies show that far too many of us are not sleeping well, and lack of good-quality sleep can lead to more than just feeling tired: everything from traffic accidents and poor work performance to crankiness, illness, and a less-than-attractive appearance can be the result of sleeping poorly.

To look and feel your absolute best, you need to get approximately seven to nine hours of deeply restful, quality sleep each night. Here are eleven simple tips so you can start sleeping like a baby. Find out how to get a great night’s sleep, right here… "

Check out whats for dinner tonight

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I was more than shocked to read about this article on BBC

The Chinese believe that eating penis can enhance your virility

Chinese people are crazy..
They believe that eating penis can enhance your virility!

One of my chinese collegues in my office always used to tell me the funny dishes that chinese people eat. According to her, "Whatever whose back is facing to the sky can be eaten" 

But this is a height.
Here is an extract from the BBC news site:

There are many thousands of Chinese restaurants around in the UK and everyone has their favourite dish, but only in China itself do chefs specialise in a range of slightly more unusual delicacies.

The dish in front of me is grey and shiny.
"Russian dog," says my waitress Nancy.
"Big dog," I reply.
"Yes," she says. "Big dog’s penis…"

We are in a cosy restaurant in a dark street in Beijing but my appetite seems to have gone for a stroll outside.
Nancy has brought out a whole selection of delicacies.
They are draped awkwardly across a huge platter, with a crocodile carved out of a carrot as the centrepiece.
Nestling beside the dog’s penis are its clammy testicles, and beside that a giant salami-shaped object.

"Donkey," says Nancy. "Good for the skin…"
She guides me round the penis platter.
"Snake. Very potent. They have two penises each."

Click here to read more.. its funny..

PC Mag’s Top 99 Undiscovered Web Sites

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PC Mag just released their list of Top 99 Undiscovered Web Sites. Not sure why they stopped at 99 rather than 100, but it’s a cool list nonetheless, even though they once again omitted Tech Filter. My personal favorites include TweakGuides, GMailTips, and Photonhead.
 
Ones that i think are cool and really never heard of before include Charity Navigator, Expert Village, Prosper, and Comic Book Resources.
 
(via tech filter)

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