الاثنين، 15 يوليو 2013

Long May She Reign! William And Kate's Baby Could Be Britain's First Heiress To A More Modern Throne

Cambridge, have captured the imaginations of royalty enthusiasts the world over. The impending birth of the couple’s first child has provoked fervor once again, with photographers and fans already forming a queue outside St. Mary’s Hospital in London in anticipation.
But commemorative tea towels and myriad magazine covers aside, this child will be the first ever to become rightful heir to the British throne totally regardless of gender.
“When Princess Elizabeth was heading to the hospital in 1948 to have Prince Charles, well-wishers said to Philip that they hoped she had a boy,” said Arianne Chernock, Boston Universityprofessor of modern British history and the monarchy. “I don’t think that well-wishers this time will say that to William.”
The passage of the Succession to the Crown Act by Parliament this past April cast aside the law of male primogeniture, which had for centuries decreed that the heir to the British crown had to be male (in giving birth to sons William and Harry, it was said, Diana had produced an “heir and a spare.”) The birth of a daughter would make the recent changes to the monarchy immediately apparent, though Chernock warns not to expect sweeping alterations to centuries of tradition right away.
“If it is a girl, I think her early life will be scrutinized in a different way because of the change in law,” she said. “It’s an evolution.  Are we going to see marked changes? The whole point of the monarchy is it’s in keeping with tradition. It’s not about radical shifts.”
In quickly adopting the act, the monarchy blazed a bit of a trail both domestically and abroad. The Spanish monarchy is said to be rethinking its guidelines for succession, based on the recent changes in the UK, but male primogeniture is still very much in practice among the British aristocracy, where it is used not to determine who will inherit the crown but who will inherit the family estate. The concept is central to the BBC’s wildly popularDownton Abbey , in which a concrete entail legally prevents an English lord’s daughters from inheriting his vast wealth, or their American mother’s.
But if the commonwealth’s laws haven’t always indicated as such, the British people seem to feel right at home with women at the royal helm. Victoria and Elizabeth II are Britain’s two longest reigning monarchs, having each assumed the throne as “heiress presumptive”–Victoria following the death of her uncle, the king, and in the absence of other living male uncles or cousins, and Elizabeth following the abdication of her uncle and the death of her father, and in the absence of brothers. Some scholars believe a female heir to the throne could be more readily embraced by younger generations.
“I suspect Palace officials will be hoping for a baby girl,” said Frank Prochaska, historian of modern Britain and author of several books about the British monarchy, via email. “Women have been on the throne for 125 of the past 200 years, which has softened the image of the monarchy–Queens are easier to love than Kings. The feminization of the monarchy has been a trend that has served the institution well.”
Prochaska suggests that beyond gender and inheritance, education could also be a significant indication of a departure from earlier royal generations.
“One may assume [the child] will have a somewhat more middle-class upbringing than Prince Charles, though sheltered and hounded in equal measure,” said Prochaska. “Both the parents are university graduates, so it seems likely that he/she will be one too.  Compare this with earlier generations of royal children, whose formal education was often spasmodic.”
Ultimately, says Chernock, a child who will become sovereign monarch regardless of gender and enjoy an upbringing that includes a close relationship between family members both royal and common could be the heir who most embodies the cultural identity and the House of Windsor has long sought to demonstrate.
“In a way, the royal family has been trying to model middle class virtues and sensibilities since the 19th century,” said Chernock, “so I really don’t see it as that disruptive. If anything this makes things more authentic, it’s an attempt to really connect with the people. This child will perhaps be looked on particularly fondly for having that connection.”

السبت، 13 يوليو 2013

Synthetic Drug 'Bath Salts' Trumps Methamphetamine In Addictiveness, Study Finds

The infamous drug bath salts, which rose to notoriety the last year, now has some even stronger evidence to its mighty addictiveness. A new study finds that the active ingredient in the drug trumps even the most addictive substances we know, namely methamphetamine. The study, using rats who became hooked on the bath salt compound MDPV (3,4-methylenedioxypyrovalerone) worked a lot – that is, a lot –harder to gain access to it than they did for the meth. They also acted out the stereotypic, repetitive behaviors that look a lot like the kinds of things people do when they’re high on the drugs. The trick, say the researchers who headed the study, is for them to stay ahead of the underground labs that develop the drugs, since they tend to evolve quickly to evade the laws that try, in varying degrees of success, to end them.
The team from Scripps Research Institute “taught” rats to get addicted to either MDPV or meth by simply allowing them to self-administer the compounds by pressing a lever to get the goods delivered intravenously. Rats are easily “addictable,” as humans are, so they make a good model system to study the behavioral and neurologic effects of these drugs. Here, the researchers could get an idea of how much the rats craved the drugs by extending the number of lever presses required to gain access. And what they found was pretty telling.



“When we increased how many lever presses a rat would have to emit to get an additional infusion of drug, we observed that rats emitted about 60 presses on average for a dose of METH but up to about 600 for MDPV—some rats would even emit 3,000 lever presses for a single hit of MDPV,” said study author Shawn M. Aarde. “If you consider these lever presses a measure of how much a rat will work to get a drug infusion, then these rats worked more than 10 times harder to get MDPV.”
The other telltale behavior the researchers saw in the rats, which was so similar to bath-salt-addicted humans, was massive stereotypy – the repetitive behaviors that don’t seem have any goal but continue regardless. “One stereotyped behavior that we often observed was a rat repeatedly licking the clear plastic walls of its operant chamber—a behavior that was sometimes uninterruptable,” said Aarde. “One could say MDPV turned some rats into ‘window lickers’ of a sort.” This kind of behavior, the authors point out, is similar to the “tooth-grinding and compulsive skin-picking” seen in people who are on bath salts or meth.
Bath salts are derived in the lab from cathinone, the active ingredient in khat, a plant from northeast Africa and the Arabian Peninsula, which is often chewed for its psychostimulant effects. It’s also banned in the U.S., since cathinone is a Schedule 1 controlled substance. The drug easily crosses the blood-brain barrier, and elicits its neurologic effects by preventing removal of the neurotransmitters dopamine, serotonin and norepinephrine (noradrenaline) from the synapse, which makes for a whole lot of feel-good chemicals laying around your brain for longer. The problem is, as always, that tolerance sets in, whereby you need more and more of the drug to have the same effect.
And, of course, the drugs brings along a host of negative symptoms, which include paranoia, increased activity, lack of sleep, reduced drive for food and water, violence, and suicide. Near irresistible cravings for more of the drug are the other result of taking them.
One of the major problems, among many, with synthetic drugs is the rapidity with which they can “evolve” or be reformulated, since they’re created in the lab. The trick for researchers is to stay a few steps ahead of the drug formulators by predicting the most likely future iterations of the compound. “We’d like the ability to predict, for example, which ones have the highest abuse potential, which are more likely to have long-term toxicity issues, and which carry high risks of acute lethal consequences,” said Taffe. Long term studies in animals are next on the team’s agenda. Unfortunately, adds Taffe, though they’re relatively new as recreational drugs go, “MDPV looks like it’s going to stick around as a recreational stimulant, because it is so potent.” We’ll see what becomes of these drugs, and how they, and their next generations, will evolve in the future.

How To Win $120,000 Playing Poker

My wife, Andrea, won $120,000 at Resorts Casino in Atlantic City playing Caribbean stud poker in 1997, before I even knew her.  She started with exactly $16 in that fateful hand, and received 7,500 times her investment after being dealt a royal flush of a-girl’s-best-friend diamonds.  For the abstainers, that’s a ten, jack, queen, king and ace of the same suit—the best possible hand in poker.  The chances of being dealt such a hand are one in 649,740.  To put that in perspective, the odds of getting struck by lightning throughout your lifetime are one in 3,000.
Luck Be a Lady
After playing for over four hours with a $100 budget for the night at the Caribbean stud tables, Andrea was down to six dollars in chips and expecting it to be her last hand.  Indeed it was.  She made the minimum blind bet of five dollars to play and anted up an additional dollar to be eligible for the progressive pot.  The progressive pot fills up (and up and up) with the aggregate of the one dollar side bets at a collective of tables in the casino until someone with a qualifying hand earns some or all of it.  The dealer shuffled and dealt.  Andrea peeked at her five cards to reveal a royal straight flush in the following order, from left to right: ace, king, queen, ten, jack.
As she choked down her leaping heart, she realized she needed to borrow a $10 chip from a friend to satisfy the minimum raise to win.  But even then, the dealer had to have a qualifying hand of at least an ace and a king, the hand that falls just below a pair of twos.  If the dealer has bupkis, so do you, receiving only a doubling of your initial bet—and no progressive pot.  The dealer qualified.  Then his face turned white when he saw Andrea’s hand.  Then everyone at the table saw Andrea’s hand.  Then everyone in the casino heard Andrea’s table erupt with a noise that sounds like corporate joy, but actually represents exasperated, alcohol-soaked, oxygen-infused envy.



Everyone now darted their gaze to the centrally located progressive pot sign, as the dealer struggled to turn the key to stop the number from rising, faltering enough to add a few more thousand dollars to Andrea’s winnings—in  all, $118,529. The dealer was whisked away by the pit boss and Andrea was escorted to the casino teller as zombie-eyed gamblers pawed her in hopes of a mystical transmission of luck.  After tapes were reviewed to confirm she hadn’t gamed the system and taxes were withheld, Andrea walked with a pocketful of cash and a check for $81,786.  Not bad for a night on the town.
Survivorship Bias
THIS is the story the casino wants you to hear.  (They don’t want you to hear that Caribbean stud offers some of the worst odds at the casino.)
THIS is called survivorship bias, and it’s the foundation upon which casino empires and the “success business” have been built.
Survivorship bias draws our attention away from the failures which are more numerous to the successes which are fewer.  It makes us think that because Andrea won $120,000 off of a $16 hand of Caribbean stud poker that it is somehow more likely that we will.  Survivorship bias inclines us to believe that following the prescription of someone who’s enjoyed abnormal success—in their career or marriage or parenting or investing or any number of pursuits in life that require an incalculable number of variables to align in our improbable favor—will help us achieve a similar level of success, when the success guru du jour may have simply been dealt the 649,740th hand.
David McRaney gives a much more thorough explanation of survivorship bias in his article of the same name, warning us that “the advice business is a monopoly run by survivors,” invoking Daniel Kahneman’s brilliance: “If you group successes together and look for what makes them similar, the only real answer will be luck.”  But McRaney’s is not a pessimistic manifesto for underachievers.  He addresses the noticeable differences seen in the lives of those deemed lucky contrasted with those who aren’t.  Based on compelling research collected over a decade of observance, the following conclusions are reached:
Unlucky people are narrowly focused…crave security and tend to be more anxious…remain fixated on controlling the situation…as a result, miss out on the thousands of opportunities that may float by.
Whereas:
Lucky people tend to constantly change routines and seek out new experiences…tended to place themselves into situations where anything could happen more often…exposed themselves to more random chance than did unlucky peopletry more things, and fail more often, but when they fail they shrug it off and try something else.
This, however, is far from the self-deceptive “gotta play to win” approach off of which casinos have thrived.  The lucky put themselves in situations where they have a chance to succeed today, but never take such enormous risks that they lose the ability to take a chance tomorrow.  Yes, the optimist who falls down indeed gets back up, but the overly-optimistic gambler who gets hit by an 18-wheeler typically stays down.  As McRaney puts it, “success boils down to serially avoiding catastrophic failure while routinely absorbing manageable damage.”
In keeping with this theory, Andrea’s big take in Atlantic City wasn’t her first or last display of luck.  But to her, suffering the embarrassment of, say, calling a radio station for the chance to win a trip to the Emerald Isle, is a small price to pay.  And this gent of Irish descent very much enjoyed that trip.
If you enjoyed this post, let me know on Twitter via @TimMaurer.

The Wrong Way To Look At Your Career

Part of the series Breaking Through Career Inertia
Last week, in a teleclass I gave to 450+ women who want breakthrough to a bold plan for more happiness, success and reward, a great question came up: “Kathy, exactly how do we break through our career inertia?
My answer was simple – 100% commitment.  It takes committing to taking one action each and every day towards what you want.


Most people don’t make change until they’re desperately unhappy, or until some form of a crisis hits them. It’s universal – people are highly resistant to change, and they fear that the devil they know is better than the one they don’t. 
That was me in my corporate career 12 years ago – I just would not take the necessary action until a brutal layoff in the days following 9/11 pushed me to my knees (see Breakdown, Breakthrough for more on that and 12 other inspiring stories of women’s career transformation).  In order to break through your status quo of career pain, you have to take action, and a bold kind of action that’s very different from what you’ve been doing all these years.
I’ve seen that there is a right way to look at your career – a perspective that opens the doors for growth, change, possibility and success – and a definite wrong way to think about it.  The wrong way keeps you  locked in a cycle of unhappiness, insecurity, fear, and pain.
Below are the 7 hallmarks of the wrong way to view your career and professional life:
1. “I’m stuck here.”
I’ve heard this phrase thousands of times from working people who believe they are stuck with no way out of their jobs or careers, mostly around money or “security” they think their job offers (we all know that NO job offers you security today – that’s a myth).  I know this is the wrong way to view your career, because I’ve personally witnessed thousands of other cases where people decide “Heck, I can do it!” about taking a vital new direction, despite what the outer circumstances present.  They muster faith and trust that if they take action – and if they commit to doing something 15 minutes every day towards career change or growth – that new opportunities will present themselves and they can build a career they love.  These folks are right.  You’re not stuck anywhere (despite how firmly you stick to that excuse).
2. “It’s too late to change.”
I had this same thought myself throughout my corporate career, until I reinvented myself and realized that nothing is wasted.  Whatever you’ve done, learned and experienced, you can apply all of these skills and abilities in the next, better direction, to great success.  It’s not too late.  An example of this is when I earned a Masters degree in marriage and family therapy in my 40’s and become a practicing therapist.  After three years of working with depression, rape, incest, pedophilia, drug addiction and more, and I said, “That’s enough.  This is not for me.”  But I felt terrible that I’d “wasted” so much time and money in this career.  Now I see, however, that every skill I learned as a therapist has great use and applicability in my current work as a coach, trainer and speaker, and even as a writer and interviewer.  Nothing is ever wasted, and it’s not too late to change.
3. “I really blew it (I’m a loser).”
Another wrong way to look at your career trajectory is to beat yourself up for taking a turn that didn’t work out.   OK, so you attempted to launch your own practice and didn’t like it, or you failed at your new partnership.  Or you took what seemed to be an exciting job and immediately hated it because of the toxic environment.  So?  We all make mistakes, and I can tell you (after interviewing so many amazingly successful leaders, celebrities and innovators), it’s our mistakes that teach us the most and can catapult us quickly to the next level.  You’re not a loser unless you think you are.
4. “There are no opportunities out there for me.”
Yes there are.  Even in these very tough times, I’ve seen people land amazing new jobs, create positions that didn’t exist before, launch new ventures that rock, make new connections that later opened huge doors for them.  There are vast new opportunities out there.  The thing that these people understand is that YOU have to create your luck and opportunities.  It won’t just fall in your lap.  How do you make new opportunities for yourself?  Figure out what you want and what you’ll give up anything for, research it thoroughly, talk to everyone you know about what you want, pursue taking one step each day towards the direction you want.  If you want a new career, you don’t have to bet the farm and risk everything to do it.  You can make subtle but very important shifts right now that pave the way for more happiness, success and reward.
5. “I don’t need to network .”
Sorry, you can’t build a great career alone and in a vacuum.  You need others – to support you, show you where you’re off course, advocate for you, uplift you when you’re down.   So many corporate employees who’ve been in jobs for years find they have no contacts outside their current employer, and that’s a costly mistake. You need to build a network of supporters and ambassadors outside your current organization who can help.  There are many ways to build this kind of network, but you’ve got to overcome your reluctance to engage with new people, and start.  Introverts have written me to say, “I find this advice hard. What can introverts do instead?” Introverts and extroverts alike have to do this work.  Start connecting with people, and offer your help first – give endorsements on LinkedIn LNKD +1.72%, tweet out other people’s work, connect with new folks who inspire you, join meetup groups and industry association meetings and networking groups to meet in person with people you respect.  Get out there and use your talents to help others.  The more you can give to others and be of service, the more your network will grow and you’ll find people who will go above and beyond to lend a helping hand.
6. “I can’t risk losing the money I make now.”
Look, we all need money to survive and thrive.  And we all want to pay our bills, live well, support our families, have great adventures, try new experiences, enjoy our lives – all of which money helps us do.  But to what degree have you let money shut down your future?  How many decisions do you make each day that feed into your money fears?  Change doesn’t need to equate poverty.  It’s such a myth today – that if you pursue work you love you’ll be in the poorhouse.  There are ways to generate much more than you are earning today, but not if you adhere to the old corporate mentality that you’re only as valuable as your last salary. There’s a right way and wrong way to pursue career change.  The wrong way may very well end you in the poorhouse – the right way won’t.  The right way requires doing the legwork necessary to research, plan and take your next step in an informed, educated and well-supported way so that you don’t have any surprises that will ruin your chances for success.
7. “I’ll be doing this forever.”
Finally, it’s wrong to think that whatever you’re doing now, or whatever step you take, you’ll be stuck with forever.  The concept of a linear career – where you stay in the same function and industry for 30 years — is outdated.  People are changing careers and directions much more rapidly and prevalently than ever before.  I’ve had five careers and this current role is the one I adore, but I’m sure at some point, my focus will change again too.   Look at where you are today as a stepping stone to what you really want.  How can you use where you are and what you’re learning now to bridge to a more exciting, fulfilling and happy work life?

Why Son Of Glass-Steagall Deserves To Be Born

Glass-Steagall, the New Deal law that put a solid wall between investment banking and insured deposits,  needs a rebirth.
But not because it will end the “too-big-to-fail” doctrine, which needs some even tougher legislation.  It’s time to separate the wild world of derivatives markets from traditional banking — the institutions that once made loans, held onto them and had stakes in communities.


The Depression-era law is being revived by SenatorsElizabeth Warren (D-Mass.), John McCain (R-Ariz.), Maria Cantwell (D-Wash.) and Angus King (I-Maine).  The senators want to make banks smaller and more accountable.
Up until 1933, banks were free to sell and underwrite securities. When the Great Depression triggered thousands of bank failures, Congress, at the urging of President Franklin Delano Roosevelt, passed what was then called the “Banking Act of 1933.” In addition to separating investment banks from commercial banks, it set up the Federal Deposit Insurance Corporation and mandated that the Federal Reserve regulate national banks.
But in 1999, a bi-partisan group led by then-Treasury Secretary Robert Rubin, passed the repeal of Glass-Steagall in the form of the now-tainted Gramm-Leach-Bliley Act, which effectively deregulated the lion’s share of financial services. Insurers could be merged with bank holding companies (as Citi did with Travelers) and the new mega-banks were allowed to be brokers, investment bankers, real estate agents and “financial supermarkets.” Even the retailer Sears got into the game with ill-fated purchases of brokerage house Dean Witter and real estate firm Coldwell Banker (since divested).
Derivatives the Gorilla in the Room
While the financial supermarket concept proved to be a shaky business model, the explosion of derivatives trading proved to be wildly profitable for bank trading desks and is still a robust source of profits.
Unfortunately, Gramm-Leach-Bliley, along with another round of deregulation of commodities markets, provided little oversight of the derivatives markets, which imploded with the popping of the credit bubble in 2007 and failure of Bear Stearns and Lehman Brothers in 2008. As a result, huge derivatives portfolios — linked to mortgage and interest-rate securities — crashed and burned in the fall and winter of 2008-2009.  Now, a revival of Glass-Steagall hopes to insulate the insured-side of banking from the speculative side.
Since core provisions of the Glass-Steagall Act were repealed in 1999, shattering the wall dividing commercial banks and investment banks, a culture of dangerous greed and excessive risk-taking has taken root in the banking world,” said Senator John McCain. “Big Wall Street institutions should be free to engage in transactions with significant risk, but not with federally insured deposits. If enacted, the 21st Century Glass-Steagall Act would not end Too-Big-to-Fail.  But, it would rebuild the wall between commercial and investment banking that was in place for over 60 years, restore confidence in the system, and reduce risk for the American taxpayer.”
What’s at stake? Building a firewall between the monstrosity created by under-regulated derivatives trading. According to the Bank for International Settlements (BIS), last year, the size of outstanding over-the-counter derivatives was $25 trillion; $18 trillion of that was in interest-rate contracts, which are favorite vehicles for banks, which also speculate in precious metals and currencies.
Some estimates, however, place the “notional” size of the global derivatives market to be around $700 trillion.  No one knows for sure, since there’s no robust independent watchdog watching this market. If the global financial system were to see another 2008-scale blow-up — or something even larger — there wouldn’t be enough credit or government assistance to bail out the biggest players, which include most of the largest bank and non-bank holding companies in the world.
The 2010 Dodd-Frank financial reform law called for several provisions to regulate derivatives, but they’ve been slow in coming and vigorously fought by the financial services lobby. Many friends of Wall Street would love to repeal Dodd-Frank and retreat to the regulatory free-for-all before the 2008 meltdown.

In the interim, the “son” of Glass-Steagall needs to be passed. While it won’t end too-big-to-fail, it will at least sideline insured deposits — and another potential taxpayer-funded bailout — from the fast, casino world of bankers’ trading desks.