Who could possibly have seen this coming? 😮💨
https://www.bbc.com/news/uk-politics-66441010
"names and addresses of people in the UK who registered to vote between 2014 and 2022.
This includes those who opted to keep their details off the open register"
"Companies could pay Worldcoin to use its digital identity system, for example if a coffee shop wants to give everyone one free coffee, then Worldcoin's technology could be used to ensure that people do not claim more than one coffee without the shop needing to gather personal data, Macieira said."
This is so silly. Reminds me of the arguments about needing Web 3 for property conveyancing. Would unravel with the simplest questions.
In our view, what nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a summarizes in this segment below is one of the most important concepts to grasp when assessing the fiscal (& broader macro) environment of the 2020s.
And trust us, water doesn't work well on grease fires.😉
👇👇👇
"During the 1940s, interest rates were not used as a policy tool to fight inflation, because it was fiscal-driven inflation rather than lending-driven inflation. Instead, the primary policy tools focused on ending the war, ceasing the fiscal deficits, and pivoting back towards a period of financial austerity.
During the 1970s, raising interest rates and performing other actions to reduce the high rate of bank lending was a successful inflation-fighting strategy, because it tackled the problem head on. Other non-monetary policies included improving the supply-side, such as resolving or getting around geopolitical oil embargoes. Federal debt as a percentage of GDP was only 30%, so higher rates on the public debt were manageable compared to the reduced rate of loan creation in the private sector that higher rates led to.
During the 2020s, we have a different problem. Most of the inflation was caused by large 1940s-style fiscal deficits, and yet the Federal Reserve has primarily used a 1970s-style playbook of raising interest rates to deal with it, even though that’s primarily a tool to constrain lending. However, raising interest rates when federal debt is over 100% of GDP substantially increases those deficits at an equal or larger pace than it reduces loan creation in the private sector.
An issue here is that the Federal Reserve doesn’t really know what else to do, because their tools don’t really address deficit-driven inflation; their tools are meant to deal with lending-driven inflation. It’s a fiscal matter, and so the best the Federal Reserve can do is try to suppress the private sector to offset some of what’s happening in the public sector, even though that’s not addressing the core problem.
So as the Federal Reserve raises rates, federal interest expense increases, and the federal deficit widens ironically at a time when deficits were the primary cause of inflation in the first place. It risks being akin to trying to put out a kitchen grease fire with water, which makes intuitive sense but doesn’t work as expected.
[....]
As we look years into the future via the following chart from the Congressional Budget Office, the rising federal debts and deficits will cause the fiscal dominance to continue into increase, which means interest rates become a less and less useful inflation-fighting tool over time."
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nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a does the fact that the treasury need to pay so much interest expense help to squeeze their other fiscal spending? I'm assuming interest expense increasingly goes to The Fed (main buyers of USTs), and therefore is not inflationary. So current rate hikes have an impact on fiscal spending, but in an indirect and less effective way than if gov would do austerity?
Stripe is no longer a suitable payment processor
Comments ( https://news.ycombinator.com/item?id=36967159 )
The tech midwits are slowly finding out about the problems of fiat money
Astounding corruption in UK politics at the expense of ordinary people:
Take a look at Dale Vince: https://en.m.wikipedia.org/wiki/Dale_Vince
- Runs a renewable energy company
- Funds the Just Stop Oil vandals
- But ALSO one of the Labour party's biggest donors
- Ipso Facto Labour leader Keir Starmer sympathetic towards Just Stop Oil, and pro renewable energy at the expensive of ordinary people having access to cheap reliable power
Lol, I'm so indoctrinated that I even said "their people"😅
No government is truly pro-immigration (open borders).
Failed states dont want the exodus and subsequent loss of power due to skilled people no longer paying taxes to them.
More prosperous states fear the loss of power from new people who haven't been trained by the system (schooling etc).
Either way, it's the people themselves who lose out. Those trapped by authoritarians, and those who'd benefit from more productive young people in their economy. Governments care about themselves, not their people.
People cycling with a face mask but no helmet is such a great metaphor for how deranged Covid made peoples' risk assessment
The eyeball scanning is going to be normalized way more than most bitcoiners think. Apple Vision Pro uses similar tech for biometrics, and people have been _paying_ to give up their DNA for years (it doesn't get more invasive than that).
Won't be long until we hear "come on bro, just scan your iris bro, you've got nothing to lose bro, why won't you do it if you're a real human bro".
The problem is not the iris scan itself, its all the related issues of giving your iris up (will 100% be stolen and exploited) to some closed source scam all for some pittance of compensation. Absolute humiliation is the point.
New Amethyst feature is great - the app crashes after about 15 min thus capping my procrastination
As an up and coming middle aged man, my first thoughts are about how you got your lawn to be so healthy 😂
Everyone acts out of self interest. Except for the government who follow the rule of law why do you hate democracy you conspiracy theorist!
Can't wait for the foretold coming of Sam Bitcoinman to usher in hyperbitcoinization
Massive red flag 🚩🚩🚩🚩 when a company claims to be doing good by 100% reinvesting their "profits" into some cause. Clear incentive for management to pay themselves more, or run the company less efficiently.
Makes me think of these quotes by Milton Friedman:
>"Insofar as [a business executive's] actions in accord with his "social responsibility" reduce returns to stockholders, he is spending their money. Insofar as his actions raise the price to customers, he is spending the customers' money. Insofar as his actions lower the wages of some employees, he is spending their money."
>"The stockholders or the customers or the employees could separately spend their own money on the particular action if they wished to do so."
Climate alarmist propaganda is in full force recently. Literally every 2nd headline on BBC. Just learned that asphalt burns are now on the rise due to climate change 😂
I guess we need more government to fix this
Antima swarming to the defense of Tron is fascinating
Good for you for arguing with them. Taking one for the team 💪
Loved the distinction between increases and growth 👌
A couple of things that I dont fully get:
1. If bitcoin makes capital even more expensive, doesn't that massively discount future cash flows and therefore incentivise more short-term returns thinking?
2. How will investors (you?) be incentivised to invest in things that "should" be invested in that increase our collective capital? I'm not seeing the connection between investing in things that produce capital that ultimately makes profits for ME, and that which creates collective growth (which I think you implied would be the thing Bitcoin fixes). Or put another way, why dont investors just do this already? Fiat or not, growing capital would produce sustainable future profits in something that has purchasing power.
Cut off your hedge to spite your neighbour
New front page news "breakthrough" Alzheimers drug sounds like a shitcoin.
Slows down associated protein markers, but no evidence that people are better off. Its all so tiresome 😮💨