FEAST OR FAMINE

  There are 9 different sizes of champagne bottles, containing a number of glasses depending on the size of the glass. The standard Champagne bottle contains about 6 glasses of champagne.   The 9 bottle sizes are: Mini/Piccolo/Quarter      20 cl  (quarter standard bottle) = 2 glasses Half/Demi                     37.5 cl (half standard bottle) = 3 glasses Standard                       75 cl (1 standard bottle) = 6 glasses Magnum                        1.5 L (2 standard bottles) = 12 glasses Jeroboam/Double Magnum  3 L (4 standard bottles) = 24 glasses Methuselah     ...

Why do so many socks go missing in a household? Even in a household of one person. Two scientists have devised a formula for predicting sock loss. Note though – the announcement of the formula is a clever and comical advertisement strategy for the launch of Samsung’s new innovative washing machine that has a compartment for loose socks (it’s called the Addwash ecobubble) – so that socks can be washed during any part of the washing cycle. The scientists reveal that each person loses, on average, 1.3 socks per month, which is 84 million lost socks in the United Kingdom every month! Per person, it amounts to 1,264 socks over a lifetime, costing 2,528 British pounds in losses. Psychologist Dr. Simon Moore and statistician Dr. Geoff Ellis collaborated to determine the formula for sock loss (Mirror, 24 April 2016). Factors take into account the type of wash, laundry load, the number of people in a household, the number of socks washed, the degree of attention to the task, and ...

Weddings can be extravagantly costly or cheap-and-cheerful. But what are Americans spending, on average, on weddings and gifts? American Express Spending & Saving Tracker conducted a survey on trends, as well as the average costs involved, mainly for guests ( The Financial , finchannel.com, April 28, 2014). First up, more than 67 million Americans plan to attend at least one wedding in 2014. The American couples getting married are still trying to control costs but the do-it-yourself trend is declining – 74% of couples in 2013 said they were keeping tabs on the cost which is comparable with 72% in 2014. Wedding party attendants will spend more in 2014, expecting to spend an average of $618 (this is 64% more than people spent in 2012). For female bridal attendants, 78% will purchase a new dress, although nearly 74% said that they would only wear it for that occasion. Half (49%) will choose to give the dress to a second-hand store or to a friend after the e...

Crime, corruption, and tax evasion are the three areas where developing countries lose money for their citizens. In 2011 up to USD$946.7 billion was drained from developing countries (an increase of 13.7% on 2010 figures) through illicit financial outflows reports the Global Financial Integrity (GFI), a Washington-based research organization (Caucasian Business Week, December 30, 2013). These figures were based on 150 countries. From 2002 to 2011, GFI estimates that USD$5.9 trillion was the cumulative amount of illicit funds that left developing countries. The money flows out of countries through the illicit underworld. Anonymous shell companies, tax havens, and trade-based money-laundering techniques are the main avenues for the departure of almost 6 trillion dollars since 2002, and almost a trillion dollars in 2011. GFI says that global action has begun to look at this problem, but more needs to be done to prevent money leaving the countries that need it the most. The illic...

On May 8, 2012, treasurer, Wayne Swan, announced the Australian budget for 2012-2013, by declaring that it is returning to surplus, as promised, which is said to confirm the country’s strong economy against global comparisons. One of the features of the budget was the “slowdown” or “deferral” of its foreign aid commitment target by 12 months, in an effort to return the budget to surplus over the upcoming financial year (ABC Radio Australia, 8 May 2012). Australia’s overall foreign aid budget for 2012-13 will rise by 4% from 2011-2012, but won’t reach its target of 0.38% of the gross national income (GNI). This is a budget of $7.7 billion by 2015-16, with the delay expected to save the government $2.9 billion over four years on previous forecasted (and promised) figures. Even with the saving, the treasurer said it was the largest foreign aid budget in Australia’s history, and that this government (a Julia Gillard Labor government) has increased aid by 60% on ...

At the NATO summit in Chicago, Australia’s prime minister, Julia Gillard, committed to increasing aid to Afghanistan from $165 million to $250 million by 2015-2016 – an increase of $85 million over three years (Canberra Times, May 21, 2012). The increase is in addition to the $300 million to support Afghanistan’s security forces. The agreement was signed before about 20 delegates, and the Afghan president, Hamid Karzai, on Sunday May 20, the first day of the NATO summit. The memorandum of understanding indicated that Australia will work with Afghanistan to reduce the threat of terrorism, narcotics, and people smuggling; support Afghanistan’s security after 2014; support Afghanistan’s development through an increased aid program; encourage business and investment links; cooperate on migration issues; and preserve Afghanistan’s cultural heritage. A joint commission will be established to review the goals of the partnership on a regular basis. After the deployment of foreign t...

Canberra, the capital of Australia, is the second most expensive Australian city, behind Sydney, but it has the highest standard of living. This is due to higher wages, on average. The other factor was the cost of accommodation. A report by AMP Financial Services and the National Centre for Economic and Social Modelling at the University of Canberra revealed that Australian incomes had risen higher than the price of goods, and that the country is better off than 27 years ago (Canberra Times, May 2, 2012). The report, “Prices These Days! The Cost of Living in Australia” compared today’s living standards with those of 1984. It found that incomes grew by an average of 20% more than living costs, and equally between high and low earners. Despite complaints about rising electricity, mortgage, rent and petrol costs, the average household in Australia was $224 a week wealthier than in 1984. High income households were, on average, $429 a week better off and low income househ...

The International School of Economics at Tbilisi State University tracks inflation and the cost of living across Georgia’s major cities using the bread index. To be more precise, or more Georgian, it used the Khachapuri Index. Khachapuri is traditional Georgian bread – and to track inflation, ISET uses a simple and robust formula. It includes the prices of only those ingredients that are needed to cook one Imeretian khachapuri – cheese, butter, flour, yeast, eggs, and milk – plus the cost of energy inputs – gas and electricity. Monthly costs track the fluctuations in prices in the major cities of Tbilisi (the capital), Kutaisi, Batumi, and Telavi. With bread being a staple food, the price can be compared each year. From May 2010 to May 2011 the inflation in food prices (the Khachapuri Index) increased by 19.7% (from -3.1% to 14.3%). During the same period, the Consumer Price Index (CPI) increased by 14.3%. CPI measures changes in the price level of consumer goods and services p...

The local Georgian newspaper, Financial, states that "Tbilisi, Georgia, could be considered one of the most expensive cities to live in" taking into consideration the local wages. Prices, it adds, are high for services such as internet usage, car rental, accommodation, and consumer non-durable goods. The main reasons for the high prices are given as: (1) the negative trade balance; (2) monopolistic prices; (3) small market; (4) low competition; and (5) the high import rates. The Travelsupermarket company, according to their poll, says Georgia is the most expensive car hire destination in the world. In Tbilisi an individual can hire a car for 664 EUR for 7 days (USD$912; AUD$910), whereas in Dublin it would cost 77 EUR (USD$106). Internet usage costs an average USD$17 for 5mb/second, whereas in United States it would cost USD$4 for 5mb/second. Renting a 3-room apartment in Georgia costs 1,500-2,000 EUR (USD$2,060-$2,746) a month.