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  1. kalenjin shared this story from Visual Capitalist.

    How Many U.S. Dollar Bills Are There in Circulation?

    How Many U.S. Dollar Bills Are There in Circulation?

    When you think about it, the journey of each individual currency note is pretty incredible.

    After being printed or minted, each bill is then passed between people and businesses to facilitate transactions. If it’s a $1 or $5 bill, it changes hands on average about 110 times per year – and if it’s a $20 bill, it’s more like 75. The interesting part is that almost every transaction is linked to the one before it, and the series of subsequent transactions for each bill creates a unique, broad story.

    By the time a bill is retired, it would have facilitated many hundreds of transactions that enabled everything from the purchase of used cars to the shadier deals in underground markets. It’s a pretty interesting tale for such a little piece of paper.

    Dollar Bills, in Aggregate

    Today’s infographic from TitleMax gives a sense of what happens when all of those individual stories are combined together into one large one: the U.S. supply of currency notes, the shelf life of each type of bill, and how the whole system works as a whole.

    In total, there is a total of about $1.5 trillion in U.S. physical currency in circulation, and roughly 80% of this value comes from the 11.5 billion $100 notes that are in circulation.

    NoteNumber of bills in circulation
    $1 bill11.7 billion
    $2 bill1.2 billion
    $5 bill2.8 billion
    $10 bill1.9 billion
    $20 bill8.9 billion
    $50 bill1.7 billion
    $100 bill11.5 billion

    Of course, as we showed in All the World’s Money and Markets, this is just a fraction of the total money that exists as a whole, which includes digital deposits and liquidity added by central banks. That’s why, in the U.S. today, there’s about $14 trillion in total money supply (M2), of which physical currency makes up only about 11% of the total value.

    Turnover Per Bill

    Every year, the U.S. Bureau of Engraving and Printing is responsible for printing new dollars – and interestingly, 70% of these new bills are used to replace older notes going out of circulation.

    That raises the question: how long does each bill last on average?

    NoteAverage Life Span
    $1 bill5.8 years
    $5 bill5.5 years
    $10 bill4.5 years
    $20 bill7.9 years
    $50 bill8.5 years
    $100 bill15.0 years

    This means that printers are mostly turning out new batches of $1 and $20 bills, since there are more of those in circulation than most other bills.

    At the same time, many new $100 notes are also being printed as well since they are the second most common bill. However, these last 2-3x as long as smaller denominations.

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    The post How Many U.S. Dollar Bills Are There in Circulation? appeared first on Visual Capitalist.

  2. kalenjin shared this story from The Big Picture.

    How is it possible that a few clerks at a handful of London banks determine what some call the world’s most important number? This is the topic examined with this week’s Master in Business guest, journalist David Enrich of the New York Times, and author of the new book, “The Spider Network: How a Math…

    Read More

    The post MiB: The World’s Most Important Number appeared first on The Big Picture.

  3. kalenjin shared this story from TaxVox.

    Each person’s death gives us a moment to pause and ask what lessons their lives offer for us. Here is a lesson from the life...
  4. kalenjin shared this story from Dealbreaker.

    And sources are reportedly saying that he'll lay off the heavier stuff.
  5. kalenjin shared this story from Quartz.

    Passengers boarding aircraft

    Whether it’s bad habits, inconsiderate preferences, or just a lack of spacial awareness, patience wanes at 40,000 feet. But while everyone has airplane pet peeves, not everyone agrees on just what exactly constitutes an infraction. And in an era where in-flight amenities are being stripped away faster than you can say basic economy, the line between acceptable and unacceptable behavior has never felt harder to determine.

    The Instagram account @PassengerShaming is just one testament to the different ways that people can offend on board. The creator of the account, a former flight attendant who goes by Shawn Kathleen, recently told The Points Guy that her number one pet peeve is bare feet on board—as evidenced by the number of pictures she posts documenting passengers getting their paws all over public space.

    Instagram Photo

    It’s a valid gripe, but to be honest it’s not one that tops my own list (unless, of course, those bare feet are on the tray table or arm rest of course—but that would be disgusting even if they had socks on). But I’ve got other complaints aplenty. On a recent long haul flight from London to Las Vegas, the plane brimmed with the kind of energy that Brits on their way to a Vegas vacation brim with—and many passengers stood in the aisles animatedly fraternizing with their travel groups.

    When I politely asked the flight attendant if it was perhaps against policy (aka extremely rude and annoying) for passengers to be standing in the aisles talking loudly for 30 minutes at a time—and causing folks to invade my personal space as they squeezed by—she said, quite simply, no. Passengers are encouraged to get up and move about the cabin on a long flight, she told me. In other words, my gripe was invalid.

    It was a reminder that while manners may be manners on the ground, on a plane things are different. Here are just some of the in-flight behaviors that may disgust some and be forgiven by others.

    Instagram Photo

    To recline or not to recline?

    It’s one of life’s eternal debates: Is it rude to recline your seat on an economy flight with a limited seat pitch, or not? One way of looking at it (the correct way, in my opinion) is that you’ve paid for it, so as long as you wait until the in-flight food service is over to lean back, Miss Manners would approve. But try telling that to people who seem to think it’s an affront to basic human decency to recline, and would rather suffer (needlessly, bafflingly) in silence rather than reduce another passenger’s personal space by a few millimeters. As one internet commenter sensibly put it “you should accept the seats are made to recline, and recline your own seat and relax, and be a human being.”

    The over-the-limit luggage

    Packing in the age of lean travel is trying, but it can be made even more frustrating when people ignore the rules and take unwieldy amounts of luggage on board, hoarding overhead cabin space and holding up the boarding process. While it’s understandable to avoid checking a bag—and increasingly, passengers are traveling on tickets where they can’t—it’s rather annoying when someone is clearly going over the carry-on baggage limit and even requiring assistance to stow their bag.

    Shawn Kathleen aka Ms Passenger Shaming likes to speak of “gate lice,” people who jostle to be the first to board the aircraft to nab overhead bag space for their plentiful items. But the flip-side of this argument? It’s the airline’s fault. It’s airline employees’ responsibility to ensure passengers board the plane obeying the rules, so don’t get mad at a passenger for trying their luck.

    Fragrant food

    Airline food is…not great. And increasingly, airlines don’t even offer a full service to every passenger. But should seat-mates have to endure whatever tasty (and smelly) lunch their fellow passenger has decided to bring instead? Plenty of flyers would prefer that people limit their packed meal to something neutral and unoffending—a ham sandwich, perhaps—but in the age of bring-your-own-food, that wish is a matter of taste. And other passengers may find it rude to criticize someone’s food preference when they have no choice but to bring their own food on board in the first place.

    Unruly children

    One thing is certain: Flying with children is anything but easy. There’s been a bit of discussion and debate around what are fair expectations for parents who travel with young children; passing out treats is nice, but parents shouldn’t have to apologize for having kids and flying. But when it comes to allowing children to use the aircraft as their own personal playground, passengers are understandably divided. Fellow parents may have sympathy (anything to avoid a tantrum, right?) whereas other passengers may feel their blood pressure rising when they see an unrestrained child. Recently, a toddler whose “demonic” behavior was filmed on an eight hour flight from Germany to the US, raising the ire of passengers everywhere.

    The armrest struggle

    And finally, the armrest. That such an innocuous divider has become a proxy war for airline manners is a perfect illustration of the fraught nature of aviation etiquette. Should the middle seat lay claim to both, given their inferior seat assignment? Or should it be a matter of taking turns? It is a divider that will remain divisive forever—just don’t rest your head on it.

  6. kalenjin shared this story from FT Alphaville.

    Bears have picnic up and down the capital structure.
  7. kalenjin shared this story from Visual Capitalist.

    The 50 Most Important Life-Saving Breakthroughs in History

    The 50 Most Important Life-Saving Breakthroughs in History

    For most of civilized history, life expectancy fluctuated in the 30 to 40 year range.

    Child mortality was all too common, and even for those that made it to adulthood, a long and healthy life was anything but guaranteed. Sanitation was poor, disease was rampant, and many medical practices were based primarily on superstition or guesswork.

    By the 20th century, an explosion in new technologies, treatments, and other science-backed practices helped to increase global life expectancy at an unprecedented rate.

    From 1900 to 2015, global life expectancy more than doubled, shooting well past the 70 year mark.

    Important Breakthroughs

    What were the major innovations that made the last century so very fruitful in saving lives?

    Today’s infographic from AperionCare highlights the top 50 breakthroughs, ranging from pasteurization to the bifurcated needle, that have helped propel global life expectancy upwards.

    Interestingly, while many of these innovations have some linkage to the medical realm, there are also breakthroughs in sectors like energy, sanitation, and agriculture that have helped us lead longer and healthier lives.

    To see innovations on an individual basis, AperionCare breaks them down further as follows:

    Timeline of innovations affecting life expectancy

    The breakthroughs that are credited with saving the most lives?

    Toilets, synthetic fertilizers, blood transfusions, the green revolution (also known as the “Third Agricultural Revolution”), and vaccines are each credited with saving 1 billion lives. Meanwhile, pasteurization, water chlorination, antibiotics, antimalarial drugs, and the bifurcated needle have saved hundreds of millions of lives each.

    There are also some unusual entries to the list.

    It turns out that satellites have actually saved 250,000 lives, thanks to the ability to better forecast natural disasters. Nuclear power also gets a shout out – and it may surprise some people that nuclear energy is the least deadly form of energy per kilowatt generated.

    Progress in Life Expectancy

    For a graphical look at how this all has impacted life expectancy, the following chart from Our World in Data makes a very clear case:

    Life Expectancy graph

    The impact from these new technologies was first experienced in Europe at the end of the 1800s – and other continents quickly saw the benefits thereafter.

    Impressively, Africa has now passed the 60 year mark in life expectancy, with numbers still rising.

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    The post The 50 Most Important Life-Saving Breakthroughs in History appeared first on Visual Capitalist.

  8. kalenjin shared this story from Quartz.

    call me by your name

    Here’s an idea: Plan a film festival comprised solely of films that have been banned or removed from Chinese cinemas. The slate would be pretty darn good.

    Call Me By Your Name, winner of this year’s Oscar for best adapted screenplay, is the latest such film to be censored in China. The film was abruptly pulled from next month’s Beijing International Film Festival, Reuters reported, after failing to earn approval by regulators.

    The news comes less than a week after the Chinese government voted to give control of the country’s film industry to the propaganda wing of the Communist Party.

    Based on a novel by André Aciman, Call Me By Your Nameis a gay coming-of-age romance. The storyline follows a 17-year-old American boy who falls in love with his father’s graduate student while summering at his family’s villa in Italy. It was praised by criticsfor its writing and acting and garnered four Oscar nominations, including one for best picture.

    China, however, doesn’t agree with the hype.Though homosexuality is not illegal in the country, the government has a long history of censoring LGBT stories and the various kinds of media that depict it. Last year, for example, it implemented new rules that explicitly banned homosexual content from appearing in its TV series. Homosexuality is listed under the country’s “pornographic or vulgar content” restriction, along with incest and sexual abuse.

    It’s not just homosexuality that China’s propaganda department doesn’t like: The country also has rules against media depictions of drinking, religious extremism, and many types of violence. So the producers of Call Me By Your Name shouldn’t feel too down—getting kicked out of China is something of a badge of honor for American films. Here are just a few great movies that failed to secure a full release:

    Films that are banned or censored in China

    • Ghostbusters(an obscure Communist Party rule technically bans movies that “promote cults or superstition,” including, apparently, ghosts)
    • Deadpool
    • Mad Max: Fury Road
    • Avatar (the highest-grossing film of all time was pulled from thousands of Chinese theaters early in its run; Chinese regulators were reportedly worried that the movie, which is about a militaristic government forcefully removing an alien people from their native homeland, hit too close to home)
    • Ben-Hur
    • The Dark Knight(Warner Bros. elected not to release the film in China, believing it would be too difficult to win approval by regulators)
    • The Departed(Martin Scorsese’s Oscar-winning gangster drama was barred from China for including a scene that suggests China wanted to buy advanced military technology)
    • Brokeback Mountain
    • Captain Phillips (a leaked email from the 2014 Sony hack revealed that Rory Bruer, the then-president of global distribution at Sony Pictures, didn’t believe China would ever approve of the film as it depicts the US military successfully saving a single US citizen)
    • Kundun
    • Frankenstein

    Dozens of other classic films have been released in China only after being edited, including Titanic(Kate Winslet’s bare breasts were removed from one scene) and Mission Impossible III.

    Despite opting out of many Western hits, China’s film industry grossed $8.6 billion last year, a 13% jump from 2016. If Hollywood studios want a piece of the profits, they’ll have to consider the content of the films they’re distributing. Some films, like the most recent installments of the Transformersfranchise, are even tailored specifically for Chinese audiences.

    The Beijing International Film Festival has grown bigger in recent years as more and more Hollywood celebrities and executives court this increasingly important market. Recent festivals have been attended by actress Natalie Portman, Lucasfilm boss Kathleen Kennedy, and Oscar-winning filmmaker Oliver Stone. But if the kind of censorship that bars a film like Call Me By Your Name continues, it’s fair to question whether Hollywood bigwigs should support the country’s thriving film business at all.



  9. kalenjin shared this story from Feed: All Latest.

    On a scale from "light thwack" to "geez, watch it with that thing!"
  10. kalenjin shared this story from Feed: All Latest.

    Companies are already testing systems like collaborative parking, remote-control summoning, and special picker-upper robots.