Friday, December 23, 2016

Life's ups and downs (Updated)

It hasn't been the happiest few weeks. We watched our beloved beagle Lexie slowly deteriorate with a suspected brain tumour and eventually had to let her go. RIP in the garden.

So last night provided some much-needed fun and excitement when the first horse I have ever had a share in, Everything, lined up at Alexandra Park. Having its first start (third in its career) since I have been involved in the syndicate, see what happens:

Update: Today (28th) Everything had his first start on a grass track. Out from the widest front-line draw and then broke a boring pole and had it flapping down in front of his knees for most of the journey. But he was unperturbed and again, won effortlessly. Unfortunately the bookies had him pegged this time and he went out hot favourite. Too short for me and I only took him in a quaddie and trifectas. I thought after the race, damn, I didn't make any money outright. Then I remembered -  I now get a share of the stake winnings!

Thursday, December 22, 2016

When public assistance creates poverty

A reader (?) sent a paper from Cato which essentially argues that beyond a certain level, public assistance creates poverty. That coincides with what I have long believed and tried to show. Behavioural responses that are self-destructive either individually and/or family-wise will undermine the worthy goals of alleviating need.

Here are a couple of the tables from the paper.