Announcing Google Maps Navigation for Android 2.0

Announcing Google Maps Navigation for Android 2.0: "(Cross-posted with the Google Mobile Blog)

Since 2005, millions of people have relied on Google Maps for mobile to get directions on the go. However, there's always been one problem: Once you're behind the wheel, a list of driving directions just isn't that easy to use. It doesn't tell you when your turn is coming up. And if you miss a turn? Forget it, you're on your own.

Today we're excited to announce the next step for Google Maps for mobile: Google Maps Navigation (Beta) for Android 2.0 devices.

This new feature comes with everything you'd expect to find in a GPS navigation system, like 3D views, turn-by-turn voice guidance and automatic rerouting. But unlike most navigation systems, Google Maps Navigation was built from the ground up to take advantage of your phone's Internet connection.

Here are seven features that are possible because Google Maps Navigation is connected to the Internet:

The most recent map and business data
When you use Google Maps Navigation, your phone automatically gets the most up-to-date maps and business listings from Google Maps — you never need to buy map upgrades or update your device. And this data is continuously improving, thanks to users who report maps issues and businesses who activate their listings with Google Local Business Center.

Search in plain English
Google Maps Navigation brings the speed, power and simplicity of Google search to your car. If you don't know the address you're looking for, don't worry. Simply enter the name of a business, a landmark or just about anything into the search box, and Google will find it for you. Then press 'Navigate', and you're on your way.

Search by voice
Typing on a phone can be difficult, especially in the car, so with Google Maps Navigation, you can say your destination instead. Hold down the search button to activate voice search, then tell your phone what you want to do (like 'Navigate to Pike Place in Seattle'), and navigation will start automatically.

Traffic view
Google Maps Navigation gets live traffic data over the Internet. A traffic indicator light in the corner of the screen glows green, yellow or red, depending on the current traffic conditions along your route. If there's a jam ahead of you, you'll know. To get more details, tap the light to zoom out to an aerial view showing traffic speeds and incidents ahead. And if the traffic doesn't look good, you can choose an alternate route.

Search along route
For those times when you're already on the road and need to find a business, Google Maps Navigation searches along your route to give you results that won't take you far from your path. You can search for a specific business by name or by type, or you can turn on popular layers, such as gas stations, restaurants or parking.

Satellite view
Google Maps Navigation uses the same satellite imagery as Google Maps on the desktop to help you get to your destination. Turn on the satellite layer for a high-resolution, 3D view of your upcoming route. Besides looking cool, satellite view can help you make sense of complicated maneuvers.

Street View
If you want to know what your next turn looks like, double-tap the map to zoom into Street View, which shows the turn as you'll see it, with your route overlaid. And since locating an address can sometimes be tricky, we'll show you a picture of your destination as you approach the end of your route, so you'll know exactly what to look for.

Since there's nothing quite like seeing the product in action, we made this video to demonstrate a real-life example:



The first phone to have Google Maps Navigation and Android 2.0 is the Droid from Verizon. Google Maps Navigation is initially available in the United States. And like other Google Maps features, Navigation is free.

Visit google.com/navigation to learn more and browse a gallery of product screenshots. Take Google Maps Navigation for a spin, and bring Internet-connected GPS navigation with you in your car.

Posted by Keith Ito, Software Engineer

"

Steven: Now this looks awesome. I'm sure a version for iPhone and other adroid builds are in the works.

Quote of the Day

"Today’s widening income disparities will be partly self-correcting. Granted, income statistics show the increasing disadvantages of persons with education deficits. But that is the market saying — shouting, really — “Stay in school!” Over time the voice of the market is rational, credible and therefore a potent instrument for changing behavior." -George Will

Google Voice with your existing number

Google Voice with your existing number: "Google Voice is all about enabling choice: which phone you pick up your calls on, where to review your voicemail messages, how to send and reply to text messages, etc. So when it comes to your phone number, it was logical for us to also offer a choice of which number to use with Google Voice.

Previously, when you created a Google Voice account, we asked you to select a new Google phone number. This allowed us to offer features like call forwarding, screening, and recording. But we know not everyone wants to start using a new phone number, so we've been working on another option for people who are willing to trade some features for the ability to keep their existing number.

We're excited to announce that you now can get Google Voice with a Google number OR with your existing mobile phone number. If you choose to use Google Voice with your existing number, you won't get some features (like call screening and recording), but you'll still get many others -- including Google voicemail:



More specifically, if you sign up for Google Voice with your existing number, you'll get:

• Online, searchable voicemail
• Free automated voicemail transcription
• Custom voicemail greetings for different callers
• Email and SMS notifications
• Low-priced international calling

If you decide to also get a new Google number, you'll get all of the above PLUS:

• One number that reaches you on all your phones
• SMS via email
• Call screening
• Listen In
• Call recording
• Conference calling
• Call blocking

If you already have a Google number, this new feature should also help with the transition to your new number, as you can now forward unanswered calls to your mobile phone to your Google Voice account. This way, people who still call your old number will reach the same voicemail as people who call your Google Voice number.

If you already use Google Voice, you can add Google voicemail to any mobile phone you've linked to your account. If you're not using Google Voice yet, you can request an invitation or ask someone with a Google Voice account to invite you. When you receive the invitation to sign-up, you decide whether you'd like to use Google Voice with your existing number or get a Google number.

Posted by Pierre Lebeau, Product Manager

"

Steve: I love Google Voice. It's like having an assistant.

Why Not Cut Taxes and Spending?

Why Not Cut Taxes and Spending?: "Here’s a question: If unemployment is the problem, then why aren’t supply-side tax cuts, along with tougher government budgetary restraints, a possible solution?

Top Obama economic advisor Christy Romer delivered a very gloomy forecast to Congress late last week. She said that unemployment will remain at a “severely elevated level” and that the U.S. jobs market will stay painfully weak next year. She was just being honest. Romer even said the Obama stimulus plan will not contribute much to economic growth next year.

So the administration is searching for a jobs-recovery plan, just like the rest of the country. Meanwhile, big-government spending and temporary tax credits have not worked, by the administration’s own admission. That’s basically what Ms. Romer was saying.

So why not try something different? Why not go for lower tax rates across-the-board on individuals, businesses, and investors? Why not go for permanent tax cuts that will create new growth incentives? To paraphrase economist Art Laffer, if it pays more, after tax, to work, produce, and invest, folks will work, produce, and invest more. It’s worked in the past. And I believe it will work again.

Incidentally, this idea of cutting spending and cutting tax rates is attracting a lot of attention in many of the key state races right now — like the governor’s race in New Jersey, where unemployment is also hovering around 10 percent. The idea is also looming large in Virginia, as well as in some of the early skirmishing in California.

If it’s happening in the states, when will Washington finally get the message?

"

Quote of the Day

"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." -Ronald Reagan

Quote of the Day

Quote of the Day: "

“When a man spends his own money to buy something for himself, he is very careful about how much he spends and how he spends it. When a man spends his own money to buy something for someone else, he is still very careful about how much he spends, but somewhat less what he spends it on. When a man spends someone else’s money to buy something for himself, he is very careful about what he buys, but doesn’t care at all how much he spends. And when a man spends someone else’s money on someone else, he does’t care how much he spends or what he spends it on. And that’s government for you.”

~ Milton Friedman

"

Bond Market's Expectation of Inflation: Only 1.75%

Bond Market's Expectation of Inflation: Only 1.75%: "

The top chart shows the bond market-based 10-year TIPS-derived expected inflation back to 2003, calculated as the weekly difference between 10-year regular, nominal Treasury yields and 10-year Treasury inflation-indexed yields (a measure of the real interest rate), both on a constant maturity basis (St. Louis Fed data here for 10-year TIPS and here for regular 10-year Treasuries); the bottom chart shows those yields graphed separately.

After an unusual period in late 2008 resulting in a narrowing spread when the TIPS 10-year yields were unusually high and approaching 3%, and regular Treasury yields were unusually low and approaching 2%, the Treasury market seems to have stabilized, and the bond market's 10-year expectation of inflation is now around 1.75%, lower than the inflationary expectations from 2003-2007 of around 2.5%.

Many analysts and economists seem to be worried about future inflation, resulting from the easy Fed monetary policy in 2008 (which has also contributed to a falling dollar). Apparently the bond mark doesn't necessarily share those concerns. According to the inflationary expectations derived from the bond market, future inflation is less of concern now in 2009 than it was during the 2003-2007 period.

"

“Inequality” and Fairness

“Inequality” and Fairness: "

Are market-generated differences in income unfair? Nope.

"

Steve: This is a great article.

Jobless Claims (4Wk. Avg.) Fall to Lowest Level in 38 Weeks, Down 119,000 (-19.3%) From April Peak

Jobless Claims (4Wk. Avg.) Fall to Lowest Level in 38 Weeks, Down 119,000 (-19.3%) From April Peak: "

WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless insurance unexpectedly fell last week to the lowest level since January, according to a government report on Thursday that hinted at stabilization in the labor market.

Initial claims for state unemployment benefits fell 10,000 to a seasonally adjusted 514,000 in the week ended October 10, the Labor Department said. New jobless claims have declined for five of the last six weeks. The four-week moving average for new claims dipped 9,000 to 531,500 last week, declining for a sixth straight week (see top chart above).

MP: From the early April peak of 658,750, jobless claims (four-week average) have fallen by 127,250 to 531,500 (-18%), and that measure of jobless claims has fallen in 21 out of the last 27 weeks, including the last six months in a row. Jobless claims are now at the lowest level since January 17, 38 weeks ago. The bottom chart above shows that the 19% decline in jobless claims since the peak in April is consistent with the similar drops that marked the end of the 1990-91 recession (-15%) and the 2001 recession (-19%).

"

Great Review of Sprint's Android Phone at Android Central

Sprint's Android phone, the HTC Hero, got a great review from Android Central.

I love the phone so far, but I'm still learning it.

Northern Trust Focus Conference Takeaways

Paul Kasriel – Director of Economic Research
•There will be a feeble recovery with housing leading (most affordable in 40 years and he thinks sales have bottomed).
•Consumer spending has stabilized
•Exports have hit a record high (13% of GDP), the weak dollar has helped. The U.S. has “stolen” exports from Germany and Japan who have declining populations
•Capital expenditures declining at a slower pace
•Growth is all about emerging markets
•U.S. to become export demand economy
•EM consumers (especially China) will drive global growth
•The U.S. will have a jobless recovery
•GDP Growth will be too slow to re-employ the laid of workers very quickly (He expects unemployment to peak at 10.5% by mid 2010)
•The work week is at record lows
•Many jobs that were lost are not coming back
•40% of stimulus has been spent
•He is negative on commercial real-estate
•Lending among financial institutions is strong, but future losses will come from commercial real-estate
•He believes a move away from the dollar and to a basket of currencies to trade oil would have a limited impact on the dollar
•He thinks this would also be a mistake by countries who hold large amounts of dollars (i.e. China)
•Yields are low on U.S. treasuries (even given the increase in borrowing) are because of low consumer borrowing
•Does not see inflation until at least 2011
•Inflation must be fed by demand, no demand for products and labor
•Low money supply growth
•U.S. dollar weakening to due increased risk appetite

Jim McDonald – Chief Investment Strategist
•Developing economies will do better than developed economies due to stronger financial markets and institutions
•Inflation will be muted because of no wage pressures

Jason Desana Trennert – Chief Investment Strategist of Strategas Research
•Government spending to drive growth… until the bill comes due
•Consumers have hit a ceiling
•Overweight- Commodities, Materials, Consumer Staples, Health care
•Underweight – Consumer Discretionary, Utilites, Telecom
•He believes the next couple of quarters will be better than expected
•Referenced Japan’s “lost decade” and that there were 7 rallies of over 60% in that time frame
•Japan’s growth during that decade was dependent of the government’s spending and the U.S. could see that same outcome
•Compared 1982 to current times and pointed out how much worse it looked
•Thinks buy and hold is dead for now
•Average holding period for stocks has fallen from 8 years in 1960 to 0.7 years in 2007
•Money market assets as a % of U.S. market capitalization are at 34%, much higher than the historical average of around 12%

Main Themes
•Extremely bullish on international (especially emerging markets) Northern Trust is now 50/50 domestic/international in its aggressive growth portfolio
•Still bullish on stocks in general
•No one is worried about inflation, in the near term

Gold (Inflation Adjusted)

Originally posted at The Big Picture.

Gold (Inflation Adjusted): "
While everyone seems to be all abuzz over Gold’s new highs, you should be aware that these are nominal, not real highs.

Adjusted for Inflation, Gold is nowhere near its all time peak — in real terms, its only about half its prior highs:

*gt;
courtesy of Bianco Research
"
*Click to enlarge.

Steve: I thought this was an interesting chart to share. It puts the price of gold in perspective.

How Do We Keep Gov't. Honest? Medicare Denies More Inusrance Claims Than the Private Sector

Orinally posted by Mark J. Perry at Carpe Diem.

How Do We Keep Gov't. Honest? Medicare Denies More Inusrance Claims Than the Private Sector: "The purpose of the American Medical Association's '2008 National Health Insurer Report Card' is to provide physicians and the general public a reliable and defensible source of critical metrics concerning the timeliness, transparency and accuracy of claims processing by the health insurance companies that are responsible for paying these claims. Billions of dollars in administrative waste would be eliminated each year if third party-payers sent a timely, accurate and specific response to each physician claim.

An analysis of almost 10,000,000 insurance claims by the AMA to seven private insurance companies and Medicare between March 2007 and March 2008 reveals that more than half a million (574,591) claims were denied, and the chart above displays the percentage of claims denied by each insurer during that period. Medicare led the group with the greatest percentage of insurance claims denied (6.85%), more than double the denial rate for private insurers like UHC (2.7%), Coventry (2.9%), Humana (2.9%) and CIGNA (3.4%).

David Weinberger writes yesterday on the The Heritage Foundation Blog that:

The Obama administration repeats ad nauseum that we need a government option to “keep insurance companies honest” and to make sure they don’t deny anyone coverage. Well what does one say about the fact that Medicare denies more claims than private insurers?

"

Memoirs of a Minyan

For a great read, take a look at Memoirs of a Minyan. Todd Harrison, founder and CEO of Minyanville, has eighteen years of experience on Wall Street. He shares his journey and experiences in 18 inspiring articles.

Minyanville.com is a great financial education website.

In Defense of Capitalism: A True Love Story

In Defense of Capitalism: A True Love Story: "Vitaliy N. Katsenelson, CFA submits:

My writing is a byproduct of my investment process, I think through writing. I don’t do movie reviews and don’t watch Michael Moore’s movies. A Denver Post reporter invited me to a private showing of Moore’s latest flick last Monday Capitalism: a Love Story, it stirred up a lot of memories and I recently finished reading Atlas Shrugged which had a great impact on me. A combination of all those things motivated me to write this.

In the 1980s, in Soviet Russia, a few times a year, my class walked to a movie theater, where we were shown a documentary. Attendance was mandatory. The documentaries were different but the themes were the same: to the accompaniment of patriotic music, we learned about the righteousness of socialism, the greatness of Mother Russia, and the intelligence and foresight of our great leaders. To demonstrate how good we had it, we were shown images of “decaying” American capitalism. Of course, capitalism did not get the benefit of patriotic music as we were shown the poverty-stricken homeless, the KKK burning crosses and lynching blacks, and Russia-hating capitalists being poisoned by hamburgers (of course, later I learned this part about hamburgers was not a complete lie).

Complete Story »"

Capitalism: The Real Story

Capitalism: The Real Story: "Michael Moore: Capitalism did nothing for me.

The data show that capitalism has actually done a lot for Michael Moore, and the millions of others living in countries with higher levels of economic freedom and capitalism. In fact, among many other benefits illustrated in the charts below, just being born in America added almost 20 years to Michael Moore's life expectancy compared to if he had been born in one of the countries in the bottom quartile of economic freedom (the 25% 'least free' countries in the world), see the first chart below.

Source: The Cato Institutes's 'Economic Freedom of the World: 2009 Annual Report.'

MP: In other words, the evidence clearly demonstrates that along with capitalism and greater economic freedoms come: a) higher per-capita incomes, b) higher incomes for the poorest 10%, c) greater life expectancy, d) less corruption, e) cleaner environments, and f) greater political rights and civil liberties. Not a bad record for a system that Michael Moore portrays as evil, and says did 'nothing for him.'

"

Steve: I'll see Capitalism: A Love Story just for a few laughs. Captitalism is the best path to prosperity.

Post Office Version of the Big Three "Jobs Bank"

Posted at CARPE DIEM

Post Office Version of the Big Three "Jobs Bank": "

Federal Times -- The U.S. Postal Service, struggling with a massive $7 billion deficit caused by plummeting mail volume, spends more than a million dollars each week to pay thousands of employees to sit in empty rooms and do nothing.

It’s a practice called “standby time,” and it has existed for years — but postal employees say it was rarely used until this year. Now, postal officials say, the agency is averaging about 45,000 hours of standby time every week — the equivalent of having 1,125 full-time employees sitting idle, at a cost of more than $50 million per year.

Mail volume is down 12.6 percent compared with last year, and many postal supervisors simply don’t have enough work to keep all employees busy. But a thicket of union rules prevents managers from laying off excess employees; a recent agreement with the unions, in fact, temporarily prevents the Postal Service from even reassigning them to other facilities that could use them. So they sit — some for a few hours, others for entire shifts. Postal union officials estimate some 15,000 employees have spent time on standby this year.

HT: Paul Ringstrom

"

Public Option = Massive Income Redistribution

Public Option = Massive Income Redistribution: "From the Wall Street Journal article (9/29/2009) “Young Back Health Proposals Amid Potential Costs”:

Young adults remain some of the strongest supporters of a health-care overhaul, but many acknowledge they don't understand proposals that will likely saddle them with higher costs.

In the latest Wall Street Journal/NBC News poll, 18- to 34-year-olds showed some of the same apprehension as other age groups when asked whether President Barack Obama's health-care plan was a good idea. But half in that age group said they support a public insurance option, one of the most controversial elements of some of the proposals, with 43% opposed. It was the only age group in which more respondents supported than opposed a public option.

At the same time, the poll suggested many young adults didn't know what was in the legislation, with 48% saying they didn't understand or understood only somewhat what was being debated. That compared with 40% for respondents aged 65 and over.

MP: Before they throw their support so strongly behind a public insurance option, young adults might want to better understand the huge, inter-generational income redistribution that might be imposed on them if the public option passes, as outlined in these two recent reports:

From the Washington Post article (9/16/2009) “Young Adults Likely to Pay Big Share of Reform's Cost”:

As health-care legislation advances through Congress, the young adults who were so vital to President Obama's election are emerging as a significant beneficiary of his top domestic priority, but they are also likely to play a major role in funding any reform.

Drafting young adults into any health-care reform package is crucial to paying for it. As low-cost additions to insurance pools, young adults would help dilute the expense of covering older, sicker people. Depending on how Congress requires insurers to price their policies, this group could even wind up paying disproportionately hefty premiums -- effectively subsidizing coverage for their parents.

From the Wall Street Journal article (9/27/2009) “Health 'Reform' Is Income Redistribution”:

Like the homeowner who waits until his house is on fire to buy insurance, younger, poorer, healthier workers will rationally choose to avoid paying high premiums now to subsidize insurance for someone else. After all, they can always get a policy if they get sick.

To avoid this outcome, most congressional Democrats and some Republicans would combine guaranteed issue and community rating with the requirement that all workers buy health insurance—that is, an 'individual mandate.' This solves the incentive problem, and guarantees that both the healthy poor 25-year-old and the sick higher-income 55-year-old have heath insurance.

But the combination of a guaranteed issue, community rating and an individual mandate means that younger, healthier, lower-income earners would be forced to subsidize older, sicker, higher-income earners. And because these subsidies are buried within health-insurance premiums, the massive income redistribution is hidden from public view and not debated.

"

Jobless Claims (4Wk. Avg.) Fall to Lowest Level in 36 Weeks, Down 110,750 From Early April Peak

Jobless Claims (4Wk. Avg.) Fall to Lowest Level in 36 Weeks, Down 110,750 From Early April Peak: "
WASHINGTON — First-time claims for jobless benefits increased more than expected last week, a sign employers are reluctant to hire and the job market remains weak. And while consumer spending jumped by the most in nearly eight years in August due partly to the government's Cash for Clunkers program, economists worry whether that rebound can be sustained with U.S. households facing rising unemployment, tight credit conditions and other obstacles.

The Labor Department said Thursday that initial claims for unemployment insurance rose to a seasonally adjusted 551,000 from 534,000 in the previous week. Wall Street economists expected an increase of 5,000, according to a survey by Thomson Reuters.

The increase comes after three weeks of declines. Weekly claims have been trending down since the spring, but the decline has been painfully slow. The four-week average, which smooths out fluctuations, dropped to 548,000, about 110,000 below its peak in early April (see chart above).

MP: From the peak in early July, the four-week average has fallen by 110,750, and that measure of jobless claims has fallen in 19 out of the last 25 weeks. A comparison of the recent 110,750 decline to the last two recessions in the chart above, suggests that claims have been falling pretty sharply, and not 'painfully slow,' especially compared to the 1990-1991 recession.

"

Economic Alert

Initial Jobless Claims (United States) {US} OBSERVATION PERIOD: SEP 26 (Weekly)

ACTUAL : 551K

PRIOR : 530K

REVISED : 534K

SURVEY : 535K (Mean: 534K, High: 555K, Low: 519K)

First-time claims for state unemployment benefits rose for the first time in four weeks. The number of initial claims rose 17,000 to 551, 000 for the week ending Sept. 26. The four-week average fell 6,250 to 548,000. This is the lowest level for the average since Jan. 24.


Continuing Claims (United States) {US}OBSERVATION PERIOD: SEP 19 (Weekly)

ACTUAL : 6090K

PRIOR : 6138K

REVISED : 6160K

SURVEY : 6170K (Mean: 6179K, High: 6330K, Low: 6100K)

The number of people receiving jobless benefits fell 70,000 to 6.09 million in the week ending Sept. 19. The four-week moving average of continuing claims fell 39,250 to 6.15 million.

47% will pay no federal income tax

47% will pay no federal income tax: "

According to CNNMoney.com:

In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.

Some in that group will even get additional money from the government because they qualify for refundable tax breaks.

"

Steve: Fair taxation?