I didn’t expect the president to mention space last night, and he met my expectations. Reflexive Bush-hating space enthusiasts (you know who you are…) will of course claim that this is indicative of his lack of enthusiasm and support for his own new initiative, but I think that’s nonsense. I think that it’s more reflective of confidence in his ability to continue to execute it without having to rally the public behind it (something that it’s not clear that it’s possible to do). If anything, parading it in a SOTU address might simply draw fire from critics in a time of massive budget deficits.
I will continue to judge the president’s support by his actions, rather than public speeches. He got the full NASA budget passed last fall, using a rare threat of a presidential veto. The program is moving forward as quickly as it’s possible for a bureaucracy like NASA to make it happen, with concept studies underway, an RFP about to be released for the CEV, and plans for a Lead System Integrator to be selected this year. Ultimately, it’s hardware, not speeches, that will get us into space.
A model that assumes stock market traders have zero intelligence has been found to mimic the behaviour of the London Stock Exchange very closely.
However, the surprising result does not mean traders are actually just buying and selling at random, say researchers. Instead, it suggests that the movement of markets depend less on the strategic behaviour of traders and more on the structure and constraints of the trading system itself.
Two years ago, I (and much of the rest of the world) woke up to learn that Columbia had been destroyed on entry. Here were my immediate thoughts at the time (before we had much data to work with).