prottog

39 ms·

331.
by prottog 4y ago
That's a bit of a circular argument, since there are radically fewer banks now than there were in the past. Just in the last 20 years the number of banks in the US was cut down in half; and back in the 1930s, there were almost four tim
332.
by prottog 4y ago
Many do, but even if they didn't, it's free to ACH money to your real bank checking account every now and then that you can spend and write checks with.
333.
by prottog 4y ago
OVH also has US East Coast and West Coast datacenters, so you can get a little closer to your customers if you need the latency. Though in my experience, support isn't great for any of the OVH affiliated companies.
334.
by prottog 4y ago
> Why not just hold them > If there is a run If there is a run, they become forced sellers, because they don't have enough cash on hand to meet withdrawals. That's the whole story. They must prevent a bank run.
335.
by prottog 4y ago
Thank you for this! Very interesting.
336.
by prottog 4y ago
According to their filing[0], the securities they were forced to sell at a loss had durations of 3-6 years. [0]: https://www.sec.gov/Archives/edgar/data/719739/0001193125230...
337.
by prottog 4y ago
Which pre-Fed crises were worse than the Great Depression or the GFC?
338.
by prottog 4y ago
> I never traded cash bonds but would struggle to imagine it would be hard to liquidate Bonds are actually well known for having terrible liquidity. It's common for corps and munis even with good credit ratings to be no-bid, and eve
339.
by prottog 4y ago
There's ample reason to believe that the Fed delayed starting its current rate hike process due to political reasons; Chair Powell wanted to be re-appointed and felt that no chair who championed rate hikes back in 2021, which is when i
340.
by prottog 4y ago
It seems like we've had just as many financial crises before the advent of the Federal Reserve in 1913 than after, so it remains unclear to me the benefits of having it around, particularly as its nominal independence from the politica
341.
by prottog 4y ago
Do you have any proof of this?
342.
by prottog 4y ago
You're attributing a lot of intent to the GP ("you don't want to see them as human") that wasn't written. I don't think there's anything wrong in asking what kind of results the nearly $700m that San Franc
343.
by prottog 4y ago
You're comparing a dual-parent household to a single-parent household and claiming that if they made the same amount of money, the children would be equally well off. I'm not sure where you get this idea.
344.
by prottog 4y ago
As the other commenter replied, inner-city gang culture is a principal example that is destructive to so many children's futures. Even among groups that would be categorized together in the US, such as African-Americans, you can see a
345.
by prottog 4y ago
> the biggest problem with Ally is that they are still a bit of a "savvy bank" Being savvy is one of the ways that people can lift themselves out of poverty. Unfortunately, there is no way to force people to be savvy, and there
346.
by prottog 4y ago
> data suggest that income inequality and marginalization are what cause those issues Being poor and downtrodden forces one to turn to street violence? Nonsense. Poor kids raised in cultures that value education and self-improvement are
347.
by prottog 4y ago
And there is ample evidence to suggest that the incentive structures created by the very same Great Society anti-poverty measures are the most responsible for this tragic fact.
348.
by prottog 4y ago
As the article rightly points out, the US has spent more money over time on the poor, not less, with middling effect. Whether or not the military budget is bloated, there's no evidence to suggest that yet more money for the poor would
349.
by prottog 4y ago
By blaming the system one can justify doing anything, often without having to prove the efficacy of anything.
350.
by prottog 4y ago
Cities pay market price for food coming from the hinterlands but at the same time they pay a subsidy to the same hinterlands that grow that same food? Doesn't sound like market price anymore. It's nonsensical to say that just beca
351.
by prottog 4y ago
Then who's selling roads and bridges and other services to suburbs below cost?
352.
by prottog 4y ago
> without subsidies from the inner core Like how the residents of New York City are able to get the food and water it needs all produced within the five boroughs? Or is that a different kind of "subsidy" from the hinterlands.
353.
by prottog 4y ago
Not many 13-17 year olds with enough foresight to think about stuff like that.
354.
by prottog 4y ago
Indeed, we can go back to living at pre-Industrial Revolution standards and have a great effect on the climate.
355.
by prottog 4y ago
Private money wasted usually leads to that entity dwindling away from competition, with the end result (of efficiency) that benefits society at large. Public money wasted takes a much longer time to dwindle away and the end result is usuall
356.
by prottog 4y ago
> people object to the idea of Universal Basic Income, when it's already being experienced in so many aimless offices Private money being wasted due to inefficiencies at the office (as you say, a misallocation) is surely entirely di
357.
by prottog 4y ago
Some of the legislation he pushed through, mostly in the Great Society program, could be poster children for "the harm done by the improper enforcement of this particular piece of legislation".
358.
by prottog 4y ago
Ironic, coming from LBJ.
359.
by prottog 4y ago
> Give companies a subsidy Probably very difficult to get this right.
360.
by prottog 4y ago
There still seems to be quite a few strings attached: > ... As long as developments are 20% low-income or 100% middle-income and are environmentally sound ... What's the difference between "environmentally sound" and the o

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