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841  Economy / Economics / Re: U.S. household wealth suffers record drop in second quarter on: September 14, 2022, 02:22:41 PM
Its the fed's balance sheet. They can create money out of thin air to create an illusion of wealth.  

The average consumer lacks this power and has no access to this liquidity.

Economic inefficiency introduced by rising fossil fuel costs, supply chain disruptions, higher food prices and inflation. Guarantee household wealth is being destroyed at a high pace.

Inflation alone is known to be a big destroyer of wealth. Add all of the other issues, stacked on top of inflation. Circumstances should be clear.

Everyone has to feel poorer everytime they put gas in their car or buy food. I don't think there's anyone who feels richer now.

Correct - the money printing during COVID made people temporarily more wealthier. Most people during 2020 ended with savings that were higher than it was during the pandemic, which is evident of the fact the U.S. government spent too much on social welfare, either through direct unemployment or through stimulus checks.

The inflation rate is outpacing wage growth, so the "wealth creation" has begun to show its adverse effects. Printing money out of thin air has consequences.
842  Other / Politics & Society / Re: U.S. life expectancy drops sharply, the second consecutive decline on: September 13, 2022, 08:54:43 PM
This is considered a collective average, right? That this isn't for a single individual that will make it to a high age or not. It's about when a particular individual is predicted to die of young or old age, correct? I think that's the life expectancy means.

Correct. Life expectancy does not account for overall health status either. It would treat someone that is 50 years old and healthy the same way as a 50 year old that is obese. Obviously different projected life expectancies.

Anyways - If it is true that overdoses contribute to lowering of life expectancies, then only anticipate the number of OD's to increase after the government decided it was a good idea to take a depressed society and confine them to their homes for an indefinite period. Whatever economic woes will compound the issue, the roots will have been the lockdowns.
843  Economy / Economics / Re: India as a developed country by 2047 on: September 11, 2022, 06:49:07 AM
India is a developed country as a result of all the civilizational changes that occurred in it throughout its long history with colonialism. India is a country that has suffered from continuous colonization throughout its history by multiple forces.
India is already a developed country - I was amazed to see - in singapore there is place called little india - where there are so many Indias.

Not really. Life expectancy is <70 and there's extreme poverty issues. I wouldn't consider India to be reasonably developed until they can develop their infrastructure to support their projected population growth. Realistically, they would've needed to start developing that infrastructure years ago if they wanted to keep pace with the current population, let alone whatever their future population growth rates are.

Oddly enough, India will surpass China in population growth, but China's economy will still outpace India.
844  Economy / Economics / Re: Is the pet industry recession-proof? on: September 11, 2022, 01:01:06 AM
Here's another perspective: https://www.cnbc.com/2022/08/05/higher-housing-costs-force-more-pet-owners-to-surrender-their-dogs.html

The stories above are merely anecdotes, not calculations of the pet industry's growth. Point is, some people will give up their pets if it means they'll survive economically.

Most countries treat dogs as property or useful tools. Only in the developed world is there such affection for pets.

Stay-at-home orders created a perfect environment for pet ownership. Long hours spent in the office that once discouraged potential parents from adopting were replaced by the possibility of being present while working remotely. For the first time, half of the people employed pre-COVID-19 have been working from home, trading long commutes for quarantined conference calls, clearing social calendars, and yearning for emotional connection, which for many, has been filled by their pets. Consequently, animal adoption rates skyrocketed more than 110 percent, and fostering grew 197 percent comparatively year-over-year, according to Pethealth Inc. For existing pet parents, the stay-at-home rules offered a chance to spend more meaningful time and invest more deeply in their pets. The pandemic has made people become used to pets.

And what's tragic is that a lot of these pets went back to the shelter to get euthanized because irresponsible owners did not have the foresight to comprehend that COVID lockdowns/WFH settings were only temporary. Combine the economic turmoil and the result was predictable.
845  Economy / Economics / Re: Will crypto jobs make government jobs irrelevant in the near future? on: September 11, 2022, 12:19:29 AM
The government is a system, it's not supposed to generate jobs. The only jobs produced by the government are those to help sustain government. I'm not finding any relation to the positions you listed relative to what functions the government are meant to execute, can you please explain?

If you're suggesting that the crypto space would somehow make government smaller or limit its strength, then yes, you're correct. But that isn't because of "crypto jobs," it's an inherent consequence of decentralization. The government is a centralized authority, crypto doesn't have to be.
846  Economy / Economics / Re: Which city deserves to be the blockchain capital? on: September 10, 2022, 03:09:54 AM
I'd vote on Dubai. The number of crypto events are largely irrelevant. I could register a hotel lobby, gather a party of a dozen people for a Bitcoin event anywhere in the world to run the tally up if that was the standard.

I'd consider any city that is pro-crypto, anti-regulation, and pro-free market to be the only contenders. UK and U.S. will be regulating Bitcoin soon, more than they have already. London is out, NYC is out (along with any other U.S. cities) on your list.

Dubai's economy and tech space has developed rapidly over the last 20 years. My understanding is their regulatory governance board has allowed some crypto companies to offer their services there recently. Seems to me they'll embrace Bitcoin more than any other region. They'll likely become a crypto hub with large crypto corporations HQ'd there over the next decade.
847  Economy / Economics / Re: Energy FUD!!! on: September 09, 2022, 11:18:24 PM
The energy debate has been ongoing for some time, it's only as of late that the misinformation campaign has been ramped up because of the European energy crisis.

Global energy demands increase, therefore it is incumbent upon the climate change/green energy activists to pick the lowest hanging fruit to attack.

Let's be frank with ourselves, the energy consumption of Bitcoin mining is high, that's why many miners can not keep up with the competition and the cost of effectively running Bitcoin mining is very huge. As we all know high power consumption is equal to high Energy emissions which can lead to environmental hazards.
This isn't to say that Bitcoin mining is the chief cause of all global environmental, climate issues. But still I think it can be tackled.

It's a nonissue. The energy consumption is high, relative to what? Compared to global energy consumption, not even a drop in the ocean.
848  Other / Politics & Society / Re: Do you think that US is instigating war between China and Taiwan? on: September 09, 2022, 07:38:13 PM
America seeks to bring Taiwan into a direct confrontation with China in an attempt to weaken China and present it to the world as a fearsome monster. Contrary to the Ukrainian example, Taiwan will not be able to find the same support that Ukraine received, and even economic sanctions will be regressive to those who do them.

Europe is going through an economic and energy crisis. It will not be able to provide any kind of support to Taiwan, especially since China is able to completely crush it in a few days.

How so? If Taiwan is weakened, so is the U.S. It's against the U.S.'s interest for China and Taiwan to get into a conflict.

Say the Ukrainian war never happened and Europe didn't have an energy crisis, even then they wouldn't invest resources to defend Taiwan. They aren't the world's police, and I'm not even sure the U.S. would step in either.

Realistically, what could the U.S. do against an invasion? They won't be sending the fighter jets. They might send Nancy Pelosi  Grin
849  Other / Politics & Society / Re: Can We Derive Hope From Progress And People Becoming Smarter Over Time on: September 09, 2022, 06:59:03 PM
People being exposed to larger streams of data and information in the form of radio, television and the internet. Coupled with greater systemic threats from the environment in the form of financial scams. Along with more avenues and options for communication and complex social interactions. Could all converge to drive human intelligence in an uptrend over the long term.

It is possible that we're already seeing evidence of this happening. While it may have taken many many years for people to accept heliocentrism and the concept of the world being a sphere, rather than flat. Today people might be far more willing to test, challenge and overturn their base assumptions. It could be one indication of human intelligence growing and developing at a faster rate, in contrast to previous eras of history.

People are bound by their IQ, and IQ is purely genetic. Limiting environmental factors can reduce IQ (like malnutrition in poor countries) but your upper bound is still limited.

The rapid rise in information is mainly due to the internet, not an inherent upward trajectory in human intelligence. Over time, it's been recorded that human IQ's are increasing, but this is a generational observation and not attributable to what computational physics has given us.

If you're referring to fluid intelligence, then yes, the internet, radio, whatever, has absolutely made it easier to increase fluid intelligence.
850  Economy / Economics / Re: US congress set to consider legislation to BAN proof of work on: September 09, 2022, 02:25:34 PM
This is the full report that the White House had released: https://www.whitehouse.gov/wp-content/uploads/2022/09/09-2022-Crypto-Assets-and-Climate-Report.pdf

See pg. 5 for a summary.

I read the report briefly and there isn't anything particularly new about their arguments against crypto. Basic premise, according to their summary report, is the typical climate change activism garbage and debunked arguments attributing excessive environmental burdens with crypto mining and usage.

Report cites that electricity usage in the U.S associated with crypto assets to be 0.9-1.7 percent. They want you to believe that an estimated <2% of electricity usage from crypto somehow create a climate change crisis and that the crypto mining industry needs to be heavily regulated.

Does anyone actually buy this nonsense?
851  Other / Politics & Society / Re: Government data show that 1 out of every 246 covid vaccinated people DIES within on: September 09, 2022, 01:38:23 PM
When the British government decided to change the ways in which it calculates and releases data about Wuhan coronavirus (Covid-19) “vaccine” injuries and deaths, the obvious coverup that resulted prompted the public filing of dozens of Freedom of Information (FOI) requests. This led to the revelation that one out of every 246 people who gets jabbed for Chinese Germs, at least in England, ends up dying within the first two months post-injection.

Thinking about it logically -- if old people are the primary recipients of the COVID-19 vaccination, is 1 out of every 246 deaths <2 months from the vaccine something that's statistically significant? I'm sure there are statistical tests that would give you some level of confidence that 1 out of 246 deaths is mere coincidence.


For one, at least 90 percent of all “covid” deaths over the past year have occurred in people who took the jabs. In April and May of this year specifically, some 94 percent of all “covid” deaths were fully vaccinated, with 90 percent of those being people who had gotten triple jabbed.


You may be on to something here, but perhaps for the wrong reasons. There are studies that suggest that the vaccinated have a higher incidence of COVID-19 infection. Could be because of ADE, see here: https://pubmed.ncbi.nlm.nih.gov/34656289/

It wouldn't be the vaccine causing death, it would be the vaccine increasing likelihood of infection, which then increases the likelihood of death.

If you choose to get quadrable vaccinated 2 years out from this disease, then you accept any adverse risks.
852  Other / Politics & Society / Re: Queen Dies at the age of 96 on: September 08, 2022, 09:21:01 PM
Even when you expect the eventual death of someone in old age, it still comes across as somewhat of a shock. When news broke that the family was gathering for a "health concern," I knew it was just a matter of time before the media would be informed of her passing.

Liz Truss on the Queen's passing: https://twitter.com/trussliz/status/1567948139658608646

Fun fact - Winston Churchill was incumbent when the Elizabeth II became Queen as she then went on to have a 70 year tenure.
853  Economy / Economics / Re: UK looking to freeze energy rates on: September 08, 2022, 09:01:40 PM
This will just incentivize companies to not produce energy if the price of production exceeds what the capped rate is if the government, at any point, decides not to reimburse the energy companies. If the government decides the energy companies are being greedy, then what?

Normal consumers determine what their absolute price cap is. When you put that ball in the government's court, companies are forced to foot the bill for a consumer that uses more energy than they're allowed to charge for with hopes the government will hold true to their promise to reimburse. I don't anticipate this to be an issue with the UK government, I just don't believe this should be the roadmap for Europe's energy crisis. They're better off dropping renewables entirely, embracing alternative sources to oil/gas and firing up nuclear powerplants where applicable.

854  Economy / Economics / Re: 'We don’t have enough' lithium globally to meet EV targets, mining CEO says on: September 08, 2022, 02:36:06 PM
And ironically enough, most of the charging from electric vehicles come from fossil fuel based energy sources anyways. It would make more sense to cut out the middle man and stop relying on electric vehicles to solve the manufactured issue of climate change. Most electrical grids couldn't even support mass charging if every car on the road switched to electric.
855  Economy / Economics / Re: Working hours | How many are too many? on: September 07, 2022, 09:14:50 PM
How many hours/week is the typical in your country? How many hours are you actually working and how does a 4 day work week sound?

There are studies out there that suggest 4 day work weeks, 40 hours/wk, increase productivity versus a 5 day work week with the same hours. Though, a 4 day work week only has limited practice in most countries so the studies are a small sample size.

I wouldn't be oppose to 4 day work weeks in the private sector for office related jobs. Seems that most of their tasks could be performed from home anyways, perhaps a 4 day work week and 1 day working from home. With energy costs rising, it might be more economical for corporations to keep operating costs down by shortening the week too.
856  Economy / Economics / Re: Usability of cryptocurrency in Africa on: September 07, 2022, 04:17:46 PM
Another issue is the volatility of crypto, cryptocurrency is subject to unpredictable changes in the market, For businesses, a 3 percent drop in bitcoin’s value can be big enough to generate a massive loss, and that’s a risk business owners are not willing to take. https://cioafrica.co/the-truth-about-crypto-usability-in-nigeria/

Africa is riddled with poverty, disease, and famine. Doesn't seem to me the issue is inherently with crypto, they just don't have the technological infrastructure to support crypto. I don't mean to sound crude, but isn't entirely dependent on countries with small GDP's to adopt crypto in order to make a significant impact on the crypto sector. And adoption of crypto isn't going to fix the government corruption either. It makes citizens' less dependent on corrupt government, but even with economic independence, government authoritarianism is inescapable.
857  Economy / Economics / Re: Fashion Brands uses Blockchain Technology on: September 04, 2022, 06:46:26 AM
A company will attach "blockchain" to their corporate branding to lure in naive investors who don't know anything about cryptography to throw money at them. It's tiresome seeing it thrown around in industries completely unrelated and delegitimizes blockchain tech for actual suitable applications.

Quote
Luxury giants LVMH, Prada, and Cartier joined forces to launch the Aura Blockchain Consortium, a non-profit platform to create a digital twin for their fashion items. The platform leverages blockchain technology, which has the features of transparency and immutability to ensure that consumers of the brands are buying original copies.
https://beincrypto.com/crypto-can-save-the-fashion-industry-despite/?utm_source=thecryptoapp

Please...utter nonsense.
858  Bitcoin / Bitcoin Discussion / Re: Bitcoin should be pushed as a dominant global digital currency on: September 04, 2022, 05:27:07 AM
But despite this, there have been limitations as to how far-reaching Bitcoin should have gotten and this limitation is traced to the presence of so many altcoins that seek to undermine the relevance factors that Bitcoin presents to gain global attention we have thousands of cryptocurrencies in the market and all of them are just copy cat of Bitcoin to gain popularity and also cashing out on the gullible minds.
If only Bitcoin exist as the sole digital currency the speed of adoption will be made faster and there will be less distraction in the entire crypto space and less bad image that are resulting from the operation of so many altcoins scams giving the entire young growing cryptocurrency industry bad spot on the limelight.

I'm in favor of Bitcoin absolutism but not through usage of brute force. Altcoins exist, they will always exist, and carry value for the same reason Bitcoin carries value. I take a capitalistic approach and say: let there be competition between cryptocurrency and fiat currency and allow for uninterrupted market forces to determine the proper global financial system. Bitcoin will take time to reach solvency; we don't need to push for an elimination or curtailment of altcoins in order to achieve the end goal of mainstream adoption.

And if we're being honest, it's not as if altcoins are the actual constraints of global adoption, it's the government. Bitcoin dominates the market share and is mainstream enough that the average participant in the economy has at least heard about it. I wouldn't be concerned about this average consumer dabbling in whatever rag meme coin happens to be in the spotlight oppose to Bitcoin if they make the crypto dive. Getting them to make the dive first is the current predicament.
859  Economy / Economics / Re: Lenders and borrowers during inflation on: September 04, 2022, 04:33:40 AM
Inflation has increased rapidly over the last year at the world has emerged from the pandemic. At the moment in the world where inflation rate Observation: Comparing the two men with the lenders profit when loan was given, if in just 9 months the purchasing price of man B is close to the total amount payed back (purchasing price + interest) by man A, what happens at the end of the 16 months if inflation keep increasing. If the lender decide to buy a tricycle after man A had finish paying his money. He will end up adding to the money before he can purchase one. When lending money to man A, the lender believes he’s making a profit of #500,000 but this doesn’t worth it anymore within that 16 months as inflation keeps increasing.

Lenders are factoring this in by just raising their interest rates. It isn't difficult.

Lender recognizes their purchasing power to decreasing over fixed amount of time, by default 2% yearly compounded by whatever government mismanagement adds on top of that, they increase interest rates to cover that reduction in purchasing power by some value X. Whatever calculation that is is beyond what I can articulate, it would be dependent on the lender.

Borrowers aren't in a spot of luxury here. Lenders know the market better than anyone, hence they have the capital to lend. You'd have to take a gamble and secure a loan with low interest prior to inflation.
860  Other / Politics & Society / Re: Our children should be our first priority on: September 03, 2022, 11:55:19 PM
Creat the fear of God in them.

My only omission from your list. Teach them about culture, not instilling god-fearing hyperbole about the deepest parts of hell or jahannam in order to coerce young minds into submission. Children don't need religion to live morally virtuous lives, and they don't need to be fearful of god in order to make good decisions. We live in the most peaceful time in human history because we've escaped the dogma that's contributed to some of the deadliest wars in history. No need to go back.
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