What would you say if I told you that you can wash a full load of laundry and just use a cup of water?
This is now possible thanks to a Xeros, a spin-off of the University of Leeds in England. The Economist has a pretty interesting write up on how this technology works. This is achieved by using thousands of tiny nylon beads. Nylon, as many housewives would testify, has the uncanny ability to attract dirt. A cup of water is used to wet the clothes, some detergent helps in loosening the dirt and the nylon beads do the rest. No word yet on when the residential application will be available. The priority seems to be put this to commercial use first.
In other news, the pace of monthly job losses appears to be declining in another indication that the job losses are close to bottoming out. The latest government report shows 216,000 jobs lost in August, much less than 225,000 job losses estimated by the analysts.
Latest financial innovation appears to be the money market funds that, get this, fluctuate in value and are not pegged to $1. Felix Salmon has a great writeup on this topic on the Reuters blog.
President Obama is planning to webcast a speech directly to all the nations students in the classroom next tuesday, encouraging them to study hard and stay in school. With the state of politics as it is today in this country, many parents are pulling their kids out of school that day so their kids are not subjected to the President’s speech. Apparently, doctor’s offices are going to be really busy with school kids that day. Anyone get a feeling that there is something really wrong about this whole situation?
Live Rich, Live Well is honored to have been represented at the Carnival of Pecuniary Delights, hosted at the MapleMoney. If you are not familiar with the MapleMoney, I recommend you check it out and make it one of your regular reads (subscribe to feed or the email newsletter). Tom writes on personal finance topics from a Canadian perspective, as I am sure you would have guessed from the name.