State John Kerry - In America, "you have a right to be (as)
stupid (as) you want to be."
(But too many Americans are abusing the privilege)
Why did our systems fail and why
will they continue to do so? From Paul Volcker
"our economics are based on “an
unjustified faith in rational expectations, market efficiencies
and the techniques of modern finance"
You must not believe everything you think
language intentionally designed to influence rather than inform is now ubiquitous in the business of sports and politics and markets
Why? Because it works.
Hatred is too strong an emotion to waste on someone you don't even like
careful who you call your friends. I'd rather have four quarters than
one hundred pennies.
– Al Capone
Investing is not easy. Anyone thinking that it is, is stupid
There is no sense in being precise when you do not know what you are talking about.
John von Neumann
“ . . . there is always a well-known solution to every human problem — neat, plausible, and wrong.”
Henry Louis “H. L.” Mencken
“As skill improves, performance becomes more consistent, and therefore luck becomes more important.”
“in preparing for battle, I have always found that plans are useless but planning is indispensable.”
'The Federal Reserve is a giant weapon that has no ammunition left'
Former Dallas Federal Reserve President Richard Fisher
reason the professors teach nonsense is that if they didn’t, what would
they teach the rest of the semester?
Teaching people formulas that don’t really work in real life is a disaster for the world.”
“The expected rarely occurs and never in the expected manner.”
– Vernon A. Walters
Nations rise and fall with the quality of their leaders, and their leaders succeed and fail based upon who they are at their core – what they believe, how they think, and what they do. Nothing shapes a leader or a society like their education or lack thereof. Let me be clear: when I refer to an education, I’m not referencing earning a degree, I’m talking about developing a rich intellect – they are not always one and the same.
"If you see fraud and don't shout fraud, you are a fraud"
“We really can’t forecast all that well, and yet we pretend that we can, but we really can’t.”
. I do not base my forecasts on mathematical models or some finely honed methodology, but on my sense of where the economic world stands today and where I think it might likely be in the near future.
Actually, I’m going to spend the first few pages demonstrating that the mathematical models used to forecast GDP and all sorts of interesting economic events are basically nonsense.
“The essence of investment management entails the management of risk, not the management of returns.
“If you are not confused about the economy, you don’t understand it very well.”
The least competent are the most certain of their skills
"In equity markets, high-frequency traders (HFTs) ... account for a larger share of transactions. "Indeed, trading in the U.S. nowadays is concentrated at the beginning and the last hour of the trading day, when HFTs are most active; for the rest of the day, markets are illiquid, with few transactions."
The key to success is the ability to fake sincerity.
“I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, “My God, they’re purple and green. Do fish really take these lures?” And he said, “Mister, I don’t sell to fish.”
It’s difficult to put in the hard work of reading a great work of literature, when we spend our time writing in 140 characters.
“You cannot manage returns but you can manage risk”
Peter L. Bernstein
you think is much less important than how you think.”
“Doubt is not a pleasant condition, but certainty is absurd.”
“We observe the world how it is today and make these very simple projections and turn them into a terrible scenario. “This approach fails to take into account that the world is changing.”
World Bank’s Social Protection and Labor Global Practice.
The most glaring problem with current risk tolerance questionnaires is its failure to add any perspective and context to what the risk score means.
Markets are supposed to be be based on informed consumers making rational choices. Instead, the point of marketing is to create uninformed consumers who will make irrational choices often against their best interests
A lie can travel halfway around the world while the truth is getting its boots on.
There are decades where nothing happens; and there are weeks where decades happen.
Great spirits have always encountered violent opposition from mediocre minds
BURKHARD HEER, University
Augsburg, CESifo (Center for Economic Studies and Ifo Institute)
CHRISTIAN SCHARRER, University of Augsburg
BRIAN A'HEARN, Pembroke
NICOLA AMENDOLA, University of Rome, Tor Vergata - Department of Economics and Law
GIOVANNI VECCHI, University of Rome, Tor Vergata - Faculty of Economics
Caregivers are often the first line of defense in protecting the elderly and infirm – especially when it comes to making sure medications are obtained and taken properly.
Senior citizens are a fast-growing sector of the population, and age often leads to the need for many medications to treat many conditions and chronic diseases. Each of these medications, if taken too often, too seldom, or in the wrong combination may have serious negative outcomes. The latest statistics show that about 100,000 individuals over the age of 65 are taken to emergency rooms across the country annually because of adverse events to the drugs they are taking.
The caregiver plays a major role in ensuring medications are taken properly by those they care for. When patients are on multiple medications, which often look very similar in shape and size, it can become confusing to keep the medications separate and the medication schedule straight. The caregiver can help to keep the medication schedule straight, while also allowing the client to maintain an appropriate sense of independence in managing their medications.
One way to do that is to make sure the patient has a pill box that fits their needs. Specifically, if patients take medications multiple times a day, having a weekly pill box divided into different periods of the day – morning, noon and night—will help to benefit the patient. If the patient only takes medications twice a day, two pill boxes in different colors may help to distinguish the morning pills from the evening pills. The caregiver can help to arrange these pill boxes weekly by “pre-pouring” them with the medications, to lessen the chances of the patient taking the wrong pill or doubling up on a medication. This will also allow the caregiver to be sure whether or not the patient has taken their medications for the day.
Creating habits of when to take medications--either always with morning coffee or before a 7:00 pm program, for example—may help to improve adherence. If more than one caregiver is helping the patient to take their medications, creating a detailed schedule to be “checked off” when medications are given, similar to how a nurse would do in a hospital, may also help to avoid omission or duplication of a medication.
Keeping all current medications stored safely is important to avoid bottles being mixed up and more medications taken than necessary. All medications should be kept in a cool and dry place. If the medication must be refrigerated, it should be kept on a separate shelf or drawer away from food to avoid any accidents. Always check expiration dates of prescription and over-the-counter items, and dispose of any medications that are out of date. You can contact your local pharmacy to determine how to best dispose of expired prescription and over-the-counter items.
A caregiver should be aware of changes in behavior that could be caused by a reaction to a new medication, or signify a new medical condition or infection. Caregivers often know the patient best, and can determine when the patient isn’t quite acting “themselves.” Our elderly patients do not present with disease states the same as younger patients. A patient not wanting to eat breakfast as they always would may be indicative of an infection, side effect of a medication, or worsening of a medical condition. Any changes out of the ordinary for our elderly patients should be brought to their physician’s attention. Always carrying an updated medication list is helpful to identify any medications that may be causing an adverse reaction, and avoid any confusion if there is a transition of care.
The caregiver can also help to ensure the patient is able to obtain medications from the pharmacy. Many pharmacies deliver to those who are unable to leave their house, or will let the caregiver pick up the medications. If the patient is unable to pay for their medications, the caregiver should speak with the patient and, if appropriate, the patient’s doctor or pharmacist, who might be able to resolve any issues with insurance or Medicare. Often, there are less expensive alternatives that are covered under the patient’s drug coverage plan.
Another thing that could be of help to the caregiver and the client is legislation that permits pharmacists to analyze a patient’s medication therapy and recommend ways to optimize health outcomes. In New York, and many other states, we have a program called collaborative drug therapy management (CDTM).
The law, a three-year pilot program, permits a pharmacist affiliated with a teaching hospital and engaged in CTDM to write prescriptions, as long as the collaborating physician is identified on the prescription. The law allows these pharmacists time to spend an hour or more with a patient to adjust medications to avoid an emergency room visit.
Of course this law is good for pharmacists, but it also has strong implications for the elderly and the men and women who care for them. CDTM allows seniors to get special care from highly trained pharmacists who can assist in disease management and ensure appropriate and safe use of medications. The law sunsets in New York this year, and it is in the best interest of the caregiver and client or loved one for the State Legislature to renew and even expand it.If you think all of this seems like it’s placing a lot of responsibility on the caregiver, you are right. As the population gets older, more and more people will need to rely on caregivers, and caregivers will have to take a greater role in the daily lives and well-being of their patients. It is equally as important for caregivers to be concerned about their own health and well-being. Making your own health a priority will allow you to be at your best to care for those that you love
Every senior wants to remain independent in his or her own home as long as possible. There are four basic elements needed to accomplish this goal: accessibility adaptations, furniture design, color scheme and sensory accessories. When people feel content in their home environment, they will perform at their highest level, be more receptive to any educational and therapeutic interventions necessary, and will be more manageable for caregivers. These tips come from 33 years experience raising a son with autism and 25 years experience with my husband who had Parkinson’s disease.
Accessibility adaptations will enable individuals to navigate their living space. An assessment of the home and an interview with the individual determine what modifications need to be made. The person needs to enter and exit the home easily, as well as access every area of the home. The most critical areas are the bathroom and kitchen. In the bathroom, something as simple as an ADA toilet may be needed with a couple of grab bars to provide assistance with sitting on and getting off the toilet. The bathing area may require a step-in tub or roll-in shower with grab bars and a shower seat. With the roll-in shower, a combination showerhead with a hand-held piece provides a complete bathing system. In the kitchen, the countertop height and cabinet arrangement may need to be adjusted.
If a person uses a wheelchair, there are appliances made that operate to accommodate the presence of a wheelchair. Further, there are many kitchen gadgets such as reachers to access higher shelves and specially designed utensils to aid in the handling of food and for eating. In the living area, there should be enough open space to manipulate without any furniture pieces obstructing mobility. Some elimination of some pieces may be necessary and creating a piece that serves a multifunctional use, like a cabinet as opposed to just a table or making a combination table/shelving unit. All accessibility issues can be accommodated depending upon the person’s abilities. Technology is available to provide something new for a specific impairment even if it has never been created before.
Furniture design is the second key element. All pieces should have no sharp corners, meaning that all corners should be rounded to avoid injury if a fall should take place. Traditional couches should give way to a more bench type seating. The seat and seat back can be padded and covered with vinyl for easy cleaning, but there should be a small open space in between the seat and the seat back in the event of a body function accident. The substance will then fall to the floor so that the seating can be cleaned as well as the floor with no consequences. With a traditional couch, the material soaks into the fabric and the padding inside where it remains as a permanent damage. More furniture concerns are in the bedroom. Can the person get in and out of bed? Is the person incontinent? The bed construction and materials used can allow for complete cleanup with no damage to the bed itself.
Next, color scheme using calming colors can make a huge difference for the better. A human being’s reaction to color is automatic and cannot be controlled. Earth tones such as greens, blues, and beiges/browns are the ideal. Colors that can counter or provoke a negative response are red (raises blood pressure and stimulates hyperactivity) and yellow (makes muscles feel heavier, thus impacting the ability to move typically).
Finally, sensory accessories, which are objects that promote a feel-good feeling, can be added to the space. Providing favorite music, family photos, a soft fabric throw blanket, a pretty live or silk plant, to mention a few, promote smiles. Any object that sparks a happy response can accomplish contentment. All these elements are necessary to create the ideal environment. Once contentment within the individual is achieved, life runs very smoothly.
Elaine Terner, is the founder of Exceptional Designs and a Residential Interior Designer and Certified Assistive Technology Professional. She brings a unique perspective on caregiving because of her experience caring for her adult son with autism and 25 years with her late husband’s Parkinson’s disease. Visit her website exceptionaldesigns.com to learn more about home design and customized environments that focus on accommodating individuals with disabilities.
Only 22 percent of millennials indicated they are actively saving for retirement, and only 9 percent have a financial plan for retirement. Other expenses are prioritized ahead of saving for retirement for millennials, including travel, pursuing higher education, and buying or renovating a home.
selling price for
selling price for
MARCO ANGRISANI, Center
for Economic and Social Research (CESR), RAND Corporation
VINCENZO ATELLA, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS), Department of Economics and Finance, University of Rome, Tor Vergata - Faculty of Economics
MARIANNA BRUNETTI, University of Rome Tor Vergata, CEFIN
The big takeaway here is that these high incarceration rates are likely to have contributed to the US's decline in prime-age labor-force participation rates relative to other countries."Incarceration policies affect participation rates directly by removing workers from the labor force for a period of time but also long-term as the stigma of incarceration can reduce demand for the labor services of the formerly incarcerated even years after their reentry into society,"
MICHAEL CHERNEW, Harvard
Medical School - Department of Health Care Policy, National Bureau
of Economic Research (NBER)
DAVID M. CUTLER, Harvard University - Department of Economics, National Bureau of Economic Research (NBER)
KAUSHIK GHOSH, National Bureau of Economic Research (NBER)
MARY BETH LANDRUM, Harvard Medical School
Understanding how healthy lifespans are changing is essential for public policy. This paper explores changes in healthy lifespan in the U.S. over time and considers reasons for the changes. We reach three fundamental conclusions. First, we show that healthy life increased measurably in the US between 1992 and 2008. Years of healthy life expectancy at age 65 increased by 1.8 years over that time period, while disabled life expectancy fell by 0.5 years. Second, we identify the medical conditions that contribute the most to changes in healthy life expectancy. The largest improvements in healthy life expectancy come from reduced incidence and improved functioning for those with cardiovascular disease and vision problems. Together, these conditions account for 63 percent of the improvement in disability-free life expectancy. Third and more speculatively, we explore the role of medical treatments in the improvements for these two conditions. We estimate that improved medical care is likely responsible for a significant part of the cardiovascular and vision-related extension of healthy life.
MATTHIAS KALKUHL, University
of Bonn - Center for Development Research (ZEF), Potsdam-Institut
für Klimafolgenforschung (PIK)
OTTMAR EDENHOFER, Potsdam Institute for Climate Impact Research (PIK)
We show that economies may exhibit a strong endogenous macroeconomic adaptation response to climate change. If climate change induces a structural change to the more productive sector, economies can benefit from climate change though productivities in both sectors are reduced. If climate change causes structural shifts towards the less productive sector, damages are exacerbated by the intersectoral reallocation of labor and intertemporal reallocation of capital. We further assess impacts on labor movement and income distribution. We apply our analytical findings to reasonable parameters for a large set of real-world economies and find that the multiplier effect of climate change due to general equilibrium effects is sizable as it ranges between 50 and 250 percent. Thus, existing assessments of climate change impacts can be severely biased.
By Henk Snyman, MD
Throughout the 1940s and 1950s, polio emerged as a devastating epidemic that affected thousands in the United States alone. Once the second leading cause of death behind stroke, polio stood as an incurable, viral disease that caused severe pain, breathing difficulties, paralysis, and in many cases, death. The virus crippled children and adults for years until a vaccine finally became widely available in 1955. Although polio has been eradicated in the developed nations of the world, the tides have turned over the past 25 years as polio survivors have begun to experience a range of lingering side effects that significantly affect overall quality of life.
Causes of Post-Polio Syndrome
The polio virus was originally characterized in three stages, including acute illness, recovery period, and stable disability. In the 1980s, when polio survivors who were diagnosed at a young age began to experience pain, progressive weakness, and fatigue, experts identified a fourth stage of the disease commonly known as post-polio syndrome (PPS). More than half of all polio survivors are now developing the deteriorating side effects of PPS. Considered a progressive neuromuscular decompensation, PPS is surfacing in thousands of Americans, negatively affecting their ability to partake in life’s simplest pleasures.
A Difficult Journey
Navigating through life with PPS is undoubtedly difficult, as mobility is quickly lost and it becomes challenging to live a normal, regular life. The extreme bouts of pain and weakness that accompany the condition can hinder work, familial obligations, and the ability to enjoy hobbies and activities. As a result, many PPS patients become depressed and dormant, ultimately affecting those around them.
Unfortunately, there is no specific cure for post-polio syndrome, and the lack of adequate treatment most certainly leads to feelings of frustration and hopelessness among the afflicted. The lack of a cure is a result of the lack of knowledge surrounding post-polio syndrome. Because PPS demonstrates similar symptoms to other incurable chronic conditions including chronic fatigue syndrome (CFS) and fibromyalgia, physicians are often quick to misdiagnose or even dismiss PPS. Those diagnosed with PPS often remove themselves from their communities, their work, and even their families. As such, it’s particularly important for caregivers to educate themselves on both the physical and emotional side effects of the condition.
How to Help
A strong support base is critical for those living with post-polio syndrome as it is likely that among other positive effects, the chances the condition will be officially accepted by the medical community will vastly improve if caregivers acknowledge PPS and encourage their loved ones to speak out about it. Fortunately, there are an overwhelming number of PPS communities and support groups that have been established to address the growing concern of post-polio syndrome. These support groups convene regularly to discuss life’s challenges associated with PPS and ways in which individuals can move on and rebuild their lives.
The creation of these PPS support groups has garnered the attention of numerous physicians, who have taken a special interest in studying the transformation of the disease and utilizing unique treatments for individuals living with PPS. Over the last few years, specialty physicians, including doctors of osteopathy, acupuncturists, chiropractors and physical therapists, have treated PPS with alternative therapies that have served to create a pathway to a more active, fulfilling life for their patients.
Life is Possible
Through a recent increase in awareness and attention, post-polio syndrome has started gaining traction and validation within the medical community. And with recent advances in medicine and technology, breakthrough treatments that treat the debilitating side effects of the condition aren’t far away.
It takes a strong will to be a caregiver for an individual living with an illness. For caregivers of those with PPS, it is difficult to be the supportive backbone when all others have become skeptics and have dismissed PPS as a serious medical condition. As a result, these providers are encouraged to discuss the condition with their loved ones, and in turn, encourage them to have open communication lines with physicians, medical professionals, and fellow polio survivors.
"Restoring Rational Choice: The Challenge of Consumer Financial Regulation"
ECB Working Paper No. 1897
Contact: JOHN Y. CAMPBELL
Harvard University - Department of
Economics, National Bureau of Economic Research
Full Text: http://ssrn.com/abstract=2770585
ABSTRACT: This lecture considers the case for consumer financial regulation in an environment where many households lack the knowledge to manage their financial affairs effectively. The lecture argues that financial ignorance is pervasive and unsurprising given the complexity of modern financial products, and that it contributes meaningfully to the evolution of wealth inequality. The lecture uses a stylized model to discuss the welfare economics of paternalistic intervention in financial markets, and discusses several specific examples including asset allocation in retirement savings, fees for unsecured short-term borrowing, and reverse mortgages.
Forty-five percent of participants believe their defined contribution (DC) plans will not help them meet their retirement goals, according to a Prudential Retirement survey. Their plans most often fall short, participants say, in protecting them from financial market volatility, in helping them choose the right investments, and in maximizing their investments’ growth potential. Many participants also give their plans less-than-stellar marks for their ability to help them secure an adequate income source once they retire, understand how much they need to save for a secure retirement, or monitor and understand their progress toward their retirement savings goals. Read more »
Recent literature has emphasized that individuals display varying levels of strategic reasoning. This paper presents ten years worth of experimental data from two countries exploring the existence and endogeneity of gender differences in strategic sophistication. We report results from two experimental studies employing the beauty contest game, one from the classroom and one from the laboratory. We observe robust and signi?cant gender differences in strategic sophistication in favour of men in zero-stake situations. These differences disappear when a monetary prize is awarded. We also ?find that depth of strategic reasoning varies with gender priming. Females display signi?cantly higher levels of strategic sophistication than males when gender is made salient. This effect of gender priming is driven by females who believe women are superior in the game.
During her childhood, Tiffany Day’s mother was physically and verbally abusive. So the only child was rattled when her adult friends would tell Day how nice she was.
Her single, divorced mother had changed over the years, Day admitted, but that did not erase what she had done. Then in January, her mom, 66, was diagnosed with Alzheimer’s disease.
Knowing that the disease would only progress, and Day would inevitably be getting more involved in her care — and more resentful — she decided to bring up the past. “I felt if I waited too long, I wouldn’t have that opportunity and would regret not having closure,” says the San Clemente, California, mother of two.
One day she just blurted it out. “My mother could have denied it again, but I was lucky,” says Day. “She apologized but didn’t really remember the harsher things she had done to me. It doesn’t matter. I am impressed she even said she was sorry. I got what I wanted. It’s not going to do me any good to pound in how mad I am. I can’t change the past, but talking to her about her behavior has made caregiving easier.”
Forgiveness is complicated enough, but when you are taking care of a parent you feel has wronged you, it is even more difficult. You might think, Dad was miserable to me and now he wants me to lovingly care for him? It may seem inconceivable to you why Mom can’t see that her behavior was destructive. Or, do you feel guilty for your feelings, of wanting that closure, now that your parent is suffering?
These are important questions, but forgiveness is about you, not them. It is in your best interest. For one thing, caregiving and forgiveness gives your parent less power over you. It can also make you feel good for treating them well, or taking the high road — the way you wish to be treated and wish you had been. Of course, there may be situations where their treatment of you was, or is, so egregious that you cannot care for them.
In general, it is psychologically and physically healthier to get rid of anger. Stress contributes to heart disease and other serious illnesses, including strokes and depression. In one study at the University of Tennessee, those who forgave easily made fewer doctor visits and had lower blood pressure than those who held a grudge.
Forgiving a parent does not mean you suddenly have amnesia and forget. That’s not realistic. But it does mean letting go — as much as you can — of the deep, festering pain. “Forgiveness is like a gift from the gods. It helps us release the past so we can be fully present in the moment,” says John Chupka, a social worker and founder of The Forgiveness Center in Troy, New York. “You don’t have to wholly forgive a parent to care for them. The act of caring for them is forgiveness in itself.”
When is it most important to forgive? “If anger in your heart is interfering with good care, then taking the time to forgive is important,” notes Robert Enright, author of “8 Keys to Forgiveness“ and a psychology professor at University of Wisconsin-Madison.
Enright believes that we should forgive if we’re ready, but not be pressured into it. He suggests caregivers ask themselves:
“Are you so angry that this is getting in the way of your happiness? Do you want to leave a legacy of anger with your parent or would you like more from your relationship than that?”
Then decide your course of action — or inaction.
Keep these six forgiveness tips in mind:
While there is never an excuse for unkind acts, filmmaker Gayle Kirschenbaum began to see her mother differently during the course of making the documentary “Look At Us Now, Mother!” (with her mother Mildred).
Throughout her childhood, Mildred was an ultra-critical parent who was always disparaging her daughter — Gayle’s hair was “too curly,” she repeatedly told her she needed a nose job, and had wanted a son instead. To cope with the pain, Gayle changed her expectations of Mildred. “I forgave her by reframing how I looked at her. Instead, I saw her as a wounded child. I went digging into her past. When someone is being nasty to you, you better believe they are hurting,” he says.
It may seem inconceivable to you, but they may be clueless that they showed blatant favoritism to your siblings or neglected you, or whatever else they did. Apologizing and making amends may be out of the question because they don’t realize their mistake.
Even if you forgive, you will probably still feel some hurt. Clearing the air does not erase history. You have every right to be upset by shabby treatment.
Did you play any part in the bad dynamic? Is it truly black and white? If you didn’t act your best, you may want to apologize and start the conversation. Would friends or other family members, or a professional, be more objective observers?
“I have a great life,” says Day. She has made positive personal choices as a result of her upbringing. “Everything I have is the opposite of what my mother had because I don’t want to be like her.”
Rather than focus on “How could Dad have done this to me?” reframe it with, “Why am I allowing him to torment me? How is this helpful to me?”
Hydration and Delirium
By Catherine D’Aniello, MSN, RN
Did you know that:
Delirium is a mental disturbance characterized by new or worsening confusion, changes in level of consciousness or hallucinations. Delirium is different from the slow progression of dementia or Alzheimer’s disease. It has a sudden onset from hours to days and although delirium can be reversed, it is easier to prevent than cure.
All “elderly” adults (people over 65 years old) are at risk for delirium due to factors involving their own internal weakness and environmental insults. Some risk factors, such as advanced age or having dementia, are fixed. Other risk factors such as pain, malnutrition, dehydration, sensory loss, depression and fever are modifiable with intervention. With each factor present, delirium risk increases. Therefore, the key to preventing delirium is reducing the number of modifiable risk factors.
Infection and dehydration are common modifiable delirium risk factors. Older adults usually know when they have an infection, but do not recognize when they are dehydrated.
Mental status changes begin with mild dehydration and worsen with each stage, ending in delirium. In moderate dehydration, short-term memory loss occurs.
Once an older person is thirsty, they are already mildly dehydrated. Symptoms of severe dehydration include dry mouth and lips, sunken eyes, increased mental status changes and decreased urine output. This is a medical emergency which results in delirium and if not reversed, death ensues.
Failure to recognize signs of dehydration predisposes older adults to becoming increasingly and chronically dehydrated, which is a slippery slope towards delirium. Closing this knowledge gap will reduce delirium risk because inadequate fluid intake is relatively easy to remedy.
Why are older adults prone to dehydration?
Generationally, older adults are not focused on hydration. Many seniors purposely limit fluid intake because they fear bladder accidents. Others with compromised mobility may curb fluid intake to avoid extra bathroom trips. Poor access to fluids or needing help to drink may limit intake. Many drink water only when taking medication. Living in over-heated indoor spaces dehydrates even without sweating.
Older adults have decreased muscle mass and increased fat; because 75 percent of body water is stored in muscle, seniors have less capacity to store water. Women have more body fat than men at any age, so older women are at even higher risk of dehydration. Due to decreased kidney function, older adults cannot conserve fluids as well as younger people.
How do you know if you are drinking enough?
An older adult, their home caregiver or family member can take simple steps daily to check hydration status. First, thirst should not be experienced at any time. Second, urine should be colorless or straw colored, and odorless. Being familiar with a urine color chart is good practice for all ages and critical for older adults to avoid dehydration. First morning urine should not be dark, and urination should occur every two to four hours during waking hours. Some medications and foods such as asparagus give urine an odor, but normally urine should not smell.
Increase daily fluid intake, especially water!
At least half of your daily fluids should be water. Water significantly reduces older adults’ risk of becoming delirious. Milk, vegetable or fruit juice, and soup are also healthy fluid choices. Carbonated and caffeinated drinks should be limited due to their diuretic effect. The body needs water to filter alcoholic beverages from the body. Therefore, increased water consumption is needed overall as well as to balance the dehydrating effects of unhealthy drinks. Drinking healthy fluids is as important as eating healthy foods.
Family members and home caregivers should:
Increased awareness of dehydration as a cause of confusion and delirium should begin when older adults are “young-old” (65-74 years) in order to form healthy drinking habits carrying them into “middle-old” (75-84 years) and “old-old” (85 years and above). Family should report poor eating or drinking to the primary care provider so interventions can be initiated to prevent dehydration and its consequences. Educate your older family members and their caregivers on the importance of hydration and ways to facilitate good fluid intake.
Why not reduce your or an older loved one’s chance of developing delirium by eliminating the dehydration risk factor?
Catherine D’Aniello holds a BSN from University of Connecticut and MSN from University of Hartford. She has 30 years of geriatric experience and is currently a Resident Care Coordinator at a skilled nursing facility.
More than 15% of the American workforce are family caregivers, and these caregiver employees need extra support to balance their work and caregiving responsibilities. The MetLife Study of Caregiving reports that caregivers who leave work lose an average of $304,000 in benefits and wages over their lifetime.
According to the National Alliance for Caregiving, caregivers who don’t receive support from employers experience a negative impact on their careers. In fact:
Nancy Rubin, head of human resources for the Motion Picture & Television Fund, found herself caring for her aging mother. She told Forbes that stepping into this new role opened her eyes to the plight that was befalling other employees.
“I listen to the problems and issues of our employees all day, spending most of my time searching for solutions, and then I come home at night and do it all over again with my mom… Because our CEO helps care for his mother-in-law, he really understands and is empathetic to the challenges caregivers face.”
Rubin is fortunate. Not all employees offer a supportive environment for caregivers. This lack of support is not always due to a lack of compassion, however. According to human resources expert Zachary T. Abraham, Principal of AlignHR, LLC, caregiving support services are not usually an add-on feature to Employee Assistance Plans (EAPs) and in order to provide elder care support services many human resource departments must choose to eliminate another service.
Some employers would be willing to offer caregiving support services, if they were aware that there was a need. But many aren’t.
In fact, 50% of working caregivers are reluctant to tell their supervisor about their caregiving responsibilities.
This communication breakdown between employees and their employers is contributing to the lack of support in the workplace. Some employers report caregiving resources and services are available for staff, but are underutilized because workers are afraid to admit they are a family caregiver. When employees don’t take advantage of these caregiving services, human resource departments feel there is no need to keep them.
When Rubin opened up about her situation to her boss and colleagues she found the support she needed, telling Forbes that it was like a heavy boulder was lifted off her shoulders.
“The culture of care at work really makes me feel that I don’t have to hide anything from my employer and colleagues, which in turn makes me more loyal, dedicated and present in my job,” she said.
Caregiver employees need to learn to ask for help from family, friends and employers in order to avoid caregiver burnout and the other negative consequences associated with caring for an elderly family member. If your employer offers a supportive culture then don’t be afraid to open up to them about your situation and ask if they can offer support. Even if they don’t have a formal program in place for caregivers they may be understanding and able to help in other ways.
When making financial decisions, decision-makers should perceive having complete risk information as beneficial. Surprisingly, in some situations decision-makers prefer to know less than more, even when it may result in losing money. Some shareholders do not keep themselves informed about the company they have invested in, and some online customers prefer not to read the terms of service of the online stores they shop at. The aim of this study was to identify the impact of selected characteristics of financial threats on individualsČŘ™ decisions to avoid information about the probability that a given threat may occur. To reach this goal, we conducted an incentivized full-factorial 2x2x2 experiment in which subjects (n=395) made financial decisions to minimize the amount of money they could lose. We investigated their behaviour under such threat focusing mainly on their willingness to attain information that can protect them from losing money.We hypothesized t hat: (1) the more serious the financial threat, the fewer people avoid risk information; (2) the higher the perceived probability of the financial threat, the more people avoid risk information; (3) the lower the effectiveness of prevention of the threat, the more people avoid risk information. Additionally, we investigated the role of coping-styles (Miller, 1987) and locus of control (Rotter, 1966) on risk information avoidance in the financial domain. Specifically, we tested the conjectures that: (4) blunters are less likely to attain risk information than monitors; (5) external locus of control leads to more risk information avoidance than internal locus of control. Furthermore, we controlled for: anticipated emotional response, rational/emotional thinking, risk attitudes, and basic demographics.To analyse the data we ran a logistic regression model with Huber-White sandwich variance estimator and rejected hypotheses 1-3. However, we found an interesting interaction effect: the e ffect of threat severity on information avoidance depends on perceived probability of the threat. Specifically, people tend to avoid financial risk information more often when the financial threat is more serious and the perceived probability of the threat is high. In other words, they avoid financial risk information when knowing it would benefit them most. Finally, our data provides support for hypotheses 4 and 5, and suggests that anticipated emotional response and sex are statistically significant predictors of financial risk information avoidance.
Fabrice Le Lec (CES, Université de Paris 1, France) ; Marianne Lumeau (CEPN, Université de Paris 13, LABEX ICCA, France) ; BenoĒt Tarroux (CREM, UMR CNRS 6211, Faculté des Sciences Économiques, Université de Rennes 1, France)
This paper aims to test how the profusion of choice and information affects individuals' decisions. In particular, we investigate whether the possible choice overload effects are due to the mere presence of many alternatives or the difficulty in processing abundance of information that comes with the proliferation of options. To do so, we use the frequency with which familiar alternatives are preferred to unfamiliar ones as a behavioural measure of overload. We first propose an individual decision model, in which uncertainty about values of alternatives leads consumer to prefer familiar goods. We use this theoretical approach to devise an experiment where the level of information and the number of alternatives systematically vary. Our results show that individuals are prone to overload in the presence of larger choice sets, but that information has a small impact, if any.
Colors can carry specific meaning and have an important influence on people’s feelings, thoughts and behaviors. This paper investigates the impact of blue versus red on how consumers process information in food choice. Results show color indeed influences consumer information processing and feature evaluation. Specifically, consumers spend more time and pay more attention to choice tasks in the red condition than in the blue condition. In addition, consumers are willing to pay more premium for certain feature on the red label than on the blue label.
IVAN PETZEV, University
of Zurich - Department of Banking and Finance
ANDREAS SCHRIMPF, Bank for International Settlements (BIS) - Monetary and Economic Department
ALEXANDER F. WAGNER, University of Zurich - Department of Banking and Finance, Ecole Polytechnique Fédérale de Lausanne - Swiss Finance Institute, Centre for Economic Policy Research (CEPR), European Corporate Governance Institute (ECGI)
We show that in recent years global factor models have been catching up significantly with their local counterparts in terms of explanatory power (R2) for international stock returns. This catch-up is driven by a rise in global factor betas, not a rise in factor volatilities, suggesting that the effect is likely to be permanent. Yet, there is no conclusive evidence for a global factor model catch-up in terms of pricing errors (alpha) or a convergence in country-specific factor premia. These findings suggest that global financial markets have progressed surprisingly little towards fully integrated pricing, different from what should be expected under financial market integration. We discuss alternative explanations for these patterns and assess implications for practice.6/16:
Americans are dying from preventable causes more than ever. The latest calculations reveal that in 2014, a total of 136,000 Americans died from preventable causes. Why the sudden 4.2 percent jump from 2013?
It’s not that Americans are becoming clumsier or more accident-prone. According to the new report from the National Safety Council, fatal overdoses and falls deserve much of the blame. At this rate, an American dies by accident every four minutes. If you count those who would’ve died had medicine not saved them, the rate increases to one death every second.in 2014 alone, slippery floors and rugs sent nearly 1.6 million people to the emergency room, while toilet accidents sent an additional 112,412 people. Bathrooms are a relatively dangerous place, especially with a growing elderly population. Elderly people are also the most prone to falls, which can lead to an accidental death — from a slippery bathroom to the corner of a carpet.
Meanwhile, motor vehicle accident-related deaths have dropped from 53,000 in 1980 to 35,398 in 2014. Despite the decrease, neglecting to use seat belts, speeding, and driving under the influence still lead to roughly 10,000 fatal car crashes in the United States every year. Distracted driving has added to the list of car accidents, such as cell phones and other portable electronic devices.
Family Caregivers: Here’s What Medicaid Covers
There are more than 70 million people currently providing unpaid care for a family member or friend who is no longer able to care for themselves. While the care is usually given as a labor of love, the time and energy burden required to provide that care are enormous. Not only that, many people find that they have to cut down on their hours at their paying job or give it up altogether in order to provide the care their loved one needs. For these individuals, there’s good news: there is coverage available through Medicaid for that caregiving work.
Medicaid and In-Home Care
In many cases, Medicaid will help pay for in-home care in an effort to keep elderly individuals from being shuttled straight to a nursing home simply because that’s the only care for which they qualify. In some states, that care is required to go through a qualified agency that is chosen by the Medicaid program. In other cases, however, Medicaid will pay the money directly to the individual in need of care. Once they have it, they can use it to pay for care however they like—including paying a friend or family member. This is in acknowledgement of the fact that friends and family members often make the best, most caring caregivers.
In-home care offered by Medicaid can include plenty of options, including:
Daily care tasks
Cleaning and other basic tasks that the individual is no longer capable of accomplishing on their own
Modifications that make it easier for the elderly individual to remain in their home in spite of their decreasing health.
Typically, Medicaid eligibility is based off of income. While the levels vary by state, in general, individuals who qualify for Medicaid must be low-income and in need of services that will help them maintain quality of life. There are restrictions on both the number of assets that an individual can have and on the amount of income they can have each month. In many cases, elderly individuals who need to qualify for Medicaid will “spend down” their existing assets in order to reach an asset limit that qualifies—but, proceed with caution or with the help of a Medicaid planning professional! This may include paying out of pocket for in-home care, making necessary modifications or repairs to their home, or making repairs to their primary vehicle.
Home and Community-Based Services Programs
Home and Community-Based Services programs (HCBS) are designed to make it possible for elderly individuals to remain in their homes longer. They offer the services necessary to maintain as much independence as possible and keep living life to its fullest extent in spite of increasing disabilities. The goals of these programs are to help elderly individuals avoid nursing homes and assisted living facilities for as long as possible.
Cash and Counseling Program
Cash and Counseling is a Medicaid-based program that pays seniors directly, then permits them to use the funds to pay for their care as they deem necessary. These payments include paying a friend or family member to provide care or making necessary modifications to their homes as well as taking care of other tasks: meal delivery, transportation expenses, and other modifications that help make their lives easier. The Cash and Counseling program, which helps elderly individuals remain in control of their own care, is currently active in Alabama, Arkansas, Florida, Illinois, Iowa, Kentucky, Michigan, Minnesota, New Jersey, New Mexico, Pennsylvania, Rhode Island, Vermont, Washington, and West Virginia.
Time Off Work
You don’t always need to leave your job completely to care for an ailing family member. In some cases, injury or illness can require short-term care. The Family Medical Leave Act, FMLA, requires your employer to give you up to 12 weeks off to care for a family member in the event of such an emergency situation. Your leave likely will not be paid, and there are restrictions: for example, your employer must employ more than 50 employees in order for it to be required to offer these benefits.
In spite of the fact that you are the best choice for caring for your loved one, you need to acknowledge that even the most dedicated caregiver occasionally needs a break. There are plenty of options available for respite care, including adult day care, in-home agencies who can help care for your loved one, and even from friends and family who volunteer to help. It’s important to contact these individuals and set this routine in place before your own health starts to decline: you can’t provide adequate care for your loved one if you aren’t able to care for yourself.
You and your siblings didn’t agree on everything growing up, and you might not do much better now as you’re trying to decide how to care for an aging parent. Family counseling is available through social workers or geriatric care providers. Counseling can help you reach a happy medium and develop solutions together.
When you’re responsible for caring for an aging loved one, you need to take advantage of as many resources as possible. There’s no reason for you to try to bear it all alone! From Medicaid-based payments that can help ease the financial burden to respite care and counseling, taking advantage of the available resources will help you take better care of your loved one.Ben Lamm is a communication specialist and blogger at Senior Planning Services. He enjoys playing the guitar, spending time with family and social networking.
German ten-year bond yields turn negative Germany has set the pace in a historic rally in government bonds, with the yield on its ten-year bond falling into negative territory for the first time. An escalation of stimulus policies from the Bank of Japan and the European Central Bank this year, low inflation and simmering anxiety over the outlook for the global economy is driving investors into the safest and most liquid sovereign bond markets despite the vanishing returns they offer. (FT)EFM- the instability of Europe could deepen if Britain leaves the European union next week. Yet another reason the FED will leave rates alone