neffy

57 ms·

601.
by neffy 11y ago
By all accounts the (state run) Russian Gulags weren't much fun either. But do you really want to compare your country with the third world, or the first?
602.
by neffy 11y ago
Society doesn't think like that. What US society thought, was that everything should be determined by free markets. This is what happens when you put the prison service out to the lowest bidder. And lets not even get into the part wher
603.
by neffy 11y ago
There are a couple of ideas for engineering that would make the albedo (reflectivity) of the North Pole area controllable. One involves a space shield, the other is floating panels (one side black, one side white). The larger issue is a) pr
604.
by neffy 11y ago
Indeed. Plus a traditional bank makes money from the interest paid on its loans, and then pays interest on its savings.
605.
by neffy 11y ago
He's actually correct if you're talking strictly about the monetary framework. That we are as a society collectively richer (i.e. we have more stuff) is indisputable - but if you get into how the stuff is priced, and what happens
606.
by neffy 11y ago
Not a dumb question at all. I would say that it means that there's a very real business opportunity for anyone who wants to compete with Tesla and takes the open route. Beyond that who knows, but the very fact that they're shuttin
607.
by neffy 11y ago
The fundamental issue is Fisher consensus - arbitrage is a feature in other words.
608.
by neffy 11y ago
Nah - we were never at all interested in engineering or medicine. This just happened purely by accident... https://en.wikipedia.org/wiki/Industrial_Revolution
609.
by neffy 11y ago
Let me just speak on behalf of all English schoolchildren educated after that blessed year 1971 when decimalisation was introduced. Oh thank God that we don't have to use those bloody traditional measures any more. Best, idea, ever! Ha
610.
by neffy 11y ago
The problem with these kinds of analysis is that they forget one key element in the entire deposit creation mechanism - loans are also repaid. (The economists just leave that part out). In fact a bank lives in the middle of continuous strea
611.
by neffy 11y ago
Distaff side here. I loved playing with guns when I was a kid. My parents though thought they weren't suitable for girls, so they were quickly banned. So I made my own bow and arrow set, needless to say, that didn't last long in t
612.
by neffy 11y ago
The US would have been spared the embarrassment of not having declared war on the Nazi's, when they did eventually enter the war a few months later. The US was ramping up to enter WW2 long before the end of 1941.
613.
by neffy 11y ago
How to make Economists cry.
614.
How Free Electricity Helped Dig $9B Hole in Puerto Rico(nytimes.com)
2 points by neffy 11y ago|2 comments
615.
by neffy 11y ago
What about all the roads (most of them in the suburbs) that don't carry a lot of traffic?
616.
by neffy 11y ago
Indeed. And for at least the ones that are measured in prices, we have to assume oil price drops account for a lot of it.
617.
by neffy 11y ago
I totally sympathise, the US health system is just a disaster. YMMV but - I had a US bank account (I was a foreign student, low income) for 10 years. Didn't cost me a cent. Made money on interest, and had a perfect credit rating when I
618.
by neffy 11y ago
Please. The entire existence of Las Vegas is predicated on people who didn't understand high school math.
619.
by neffy 11y ago
The story with Japanese Banks is also much more interesting that this journalist apparently knows. Essentially there's a very close coupling between a bank, and it's corresponding major company. It's common knowledge which is
620.
by neffy 11y ago
And the entire population aced math in their well funded school system with small class numbers and well paid capable teachers, so no worries. I suspect we don't have different definitions of robbery so much, as of when it's appro
621.
by neffy 11y ago
There's an argument that could be made that capitalism is based on the idea that those who understand compound interest are allowed to exploit those who don't. So no, you're not the only person who thinks that. And there are
622.
by neffy 11y ago
Exactly. Or a mere 29%! Would be interesting to know where the difference is coming from. Guess the poor will be staying poor.
623.
by neffy 11y ago
And don't forget Fisher,Lynch,Paterson: https://groups.csail.mit.edu/tds/papers/Lynch/jacm85.pdf
624.
by neffy 11y ago
Cash asset money != liability deposit money. FRB creates liability deposit money, not cash. Also these days, central bank reserve requirements don't really have much impact, it's more about the Basel capital controls when it comes
625.
by neffy 11y ago
You're missing double entry book keeping essentially. The economic textbook examples of this are mostly flat out wrong. The mistake that just keeps getting repeated in the economic literature is to confuse the two different kinds of mo
626.
by neffy 11y ago
Actually, no. When bank loans are written off, there is a corresponding removal of money from the money supply. So the correct way to formulate this is to say: when loans are taken out from the banking system, money is created, but whether
627.
by neffy 11y ago
tldr: You need more money for measurements of economic growth to grow, whether you need it for actual growth is an open research question.
628.
by neffy 11y ago
Well, it's only an 'immigration issue' if this kind of behaviour is unique to immigrants. Would that it were so. If you're curious about this aspect of European life, I would recommend a whirlwind tour of European capita
629.
by neffy 11y ago
Exactly. And it's littered with simple factual errors - greatest refugee crisis since WW2 -erm, Indian partition, the Congo, the Sudan, Vietnamese War, just to start with. And then he claims that there's been a hyperinflation that
630.
by neffy 11y ago
Stand on Zanzibar John Brunner

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