dools

51 ms·

871.
by dools 4y ago
> the credit system is only related to your ability to repay debts. Is it? In Australia things like rent, electricity and phone bills all have credit checks attached. If you fail to pay bills (which I guess is a kind of debt but not one
872.
by dools 4y ago
What I find weird is this: People talk about China's social credit system as some sort of dystopian nightmare. But we have a credit system in western democracies that is run by private for profit companies, that disproportionately puni
873.
by dools 4y ago
Even if that were what was happening here, would you describe "saying something foolish but being otherwise reasonable" as "lizard theory without the lizards"? If you thought someone was generally well researched, but wa
874.
by dools 4y ago
The natural rate of interest is zero for money with a floating exchange rate. Governments interfere to increase the interest rate, not lower it.
875.
by dools 4y ago
Dave Troy is very well researched, and is totally on the money in almost everything he says. Lumping him in with right wing conspiracy theorists is a mistake.
876.
by dools 4y ago
Check out the Dave Troy podcast Dave Troy Presents
877.
by dools 4y ago
> Now, SVB, loaded with money, could have tried loaning it like crazy, but instead, decided to go the conservative way and buy bonds. They did try to originate more credit, but couldn't. But you don't "loan out deposits&qu
878.
by dools 4y ago
They should tell everyone that the government issues USD and therefore doesn’t need to first obtain the reserves from tax payers before making them available to protect bank depositors. If they were honest about this and everyone realised i
879.
by dools 4y ago
Good, but I expect to see much less techno-libertarianism on this forum as a result.
880.
by dools 4y ago
I probably can't explain it better than Randall Wray from whom I got the information, in this lecture: https://youtu.be/gI86w6bSmS0?t=445
881.
by dools 4y ago
I looked up "why would a startup choose svb" and found that the reasons are those which could be fulfilled in a myriad ways: https://au.finance.yahoo.com/news/silicon-valley-bank-served... There was nothing e
882.
by dools 4y ago
You reckon they would have been holding cash for payroll in SVB if they could have an account directly with the fed instead?
883.
by dools 4y ago
Yep, precisely, Wray says as much in this lecture: https://youtu.be/gI86w6bSmS0?t=445
884.
by dools 4y ago
I can't edit my above comment anymore but going back to the original lecture in which I saw this he does specifically say that loans should be held to maturity by the issuer: https://youtu.be/gI86w6bSmS0?t=445 Presumab
885.
by dools 4y ago
> You do not want the government, which is supervised by politicians, picking who gets loans. Yes that's why I said there's some value in having private credit creation. In fact, my comment was just lifted from this lecture by
886.
by dools 4y ago
I’m not an expert in the mechanics but I think there is also a way for private credit creation to run as a separate operation, similar to how loans were originated in the sub prime mortgage crisis and then immediately sold on. I’m not recom
887.
by dools 4y ago
The obvious fact is that we don’t need private banks to run our payment system or provide deposit accounts. It can be done perfectly well by allowing individuals to have accounts at the central bank through a postal savings system. There is
888.
by dools 4y ago
Well, even reserve balances are created out of thin air… it’s all just accounting
889.
by dools 4y ago
“ Without the deposits they could not make any loans to begin with.” Incorrect, banks create deposits when they issue loans and only require reserve balances sufficient to satisfy net flows of funds between institutions. They can also borro
890.
by dools 4y ago
What’s interesting is that this bank failure as well as the failure of a neo bank Xinja in Australia despite taking in deposits both illustrate that it is not the case that banks make money by “lending out deposits” but rather by issuing lo
891.
by dools 4y ago
There is this one crowd gasp I swear is used everywhere https://youtu.be/V5eaDhCVNJU
892.
by dools 4y ago
Didn't deliver!? That's an absurd claim.
893.
by dools 4y ago
The distinction I was making here was "by mistake" versus "done on purpose but acknowledging it was either done poorly or the wrong thing to do". OP said "Mistake was getting caught" which to me implies that he
894.
by dools 4y ago
Doesn’t look like it was a privacy problem nor does it look like he claimed it was “by mistake”. Seems perfectly reasonable to me and everyone over reacted so they took it off.
895.
by dools 4y ago
"Steve was, of course, our venture capitalist, in standard industry terminology and not a co-founder" Ring any bells?
896.
by dools 4y ago
> but I've not used it without being subscribed to Apple TV, so I don't know if it pushes that hard if you don't have it It doesn’t. The only apple product I’m pushed to use is iCloud on my phone and computer which is quit
897.
by dools 4y ago
Oh well, "about 5,000" then. Whatever, it's a rounding error.
898.
by dools 4y ago
I completely disagree. If you're trying to subvert the political/legal process through innovation then you're only accelerating the path to dystopia.
899.
by dools 4y ago
This is not the story. The story is Roe v. Wade overturned due to heinous corruption of the US political process in favour of the religious right and free market libertarians.
900.
by dools 4y ago
A lot of the stuff you mentioned is quite recent OR doesn’t actually impact teenagers, and the really egregious politics didn’t kick off that badly until Trump got in. The graph shows a sharp rise in teen happiness starting about 2011.

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