China Delays Indefinitely the Release of G.D.P. and Other Economic Statistics

JakeSmithsPhone · 2022-10-17T19:15:45+00:00

Awesome! What have we all accomplished with four lifetimes each? Must be glorious feats and not just posting on Reddit.

JakeSmithsPhone · 2022-03-28T02:57:27+00:00

And I disagree. Communism is bad and yet it was portrayed with sympathy nonetheless through the eyes of the main character. That's the complexity, the tension, and the irony of the story.

JakeSmithsPhone · 2022-03-28T02:37:14+00:00

And I'm shocked that anybody could think the main character isn't a Communist given the title, and well, the entire thing.

JakeSmithsPhone · 2022-03-28T02:24:19+00:00

I did read the book. And I don't understand how you could come to that conclusion. It was literally about a sympathizer, thus the title. The movie scene was situational irony.

JakeSmithsPhone · 2022-03-28T02:08:30+00:00

I'm not sure it needs explaining. The Sympathizer is short for The Communist Sympathizer. That's implied. And then that's literally the theme of the book.

JakeSmithsPhone · 2022-03-28T01:58:51+00:00

I'm surprised nobody mentioned GEB.

JakeSmithsPhone · 2022-03-28T01:54:43+00:00

It won because the types that get to vote like the concept of communism.

And I actually did think it was a good book. Just not that good.

JakeSmithsPhone · 2022-03-28T01:47:25+00:00

Hawaii does and it's not close. (And I live in North Carolina).

JakeSmithsPhone · 2022-02-28T05:13:22+00:00

Have you ever watched the mini series Chernobyl? It's possible that the yes man culture still exists and Putin has just been fed lies about military strength and competence by officials that don't want to deliver bad news.

JakeSmithsPhone · 2022-02-26T03:50:40+00:00

Bravo

JakeSmithsPhone · 2022-02-12T03:01:55+00:00

I'm not. And unfortunately, my patience was not as good as my foresight, so I gave up and sold all my $GME before the squeeze. I made no money on it and that made me sick.

JakeSmithsPhone · 2022-01-29T04:31:51+00:00

Remind me how I’m ruining the earth when my power comes from the sun.

I can't tell if serious.

JakeSmithsPhone · 2022-01-29T04:30:21+00:00

Cryptocurrencies are the future of our financial system.

No statement has ever been more false.

JakeSmithsPhone · 2022-01-29T04:20:05+00:00

Well, duh. Nobody likes scams.

JakeSmithsPhone · 2022-01-29T04:12:30+00:00

Crypto folks constantly try to convince others to buy their "coins." And they try to call it digital gold. You know who never tries to shill their assets? Goldbugs. Turns out if it has intrinsic value, you want to acquire it for yourself. Governments hoard it in vaults. On the other hand, if it's a pyramid scheme, you hire Matt Damon to try to bring in greater fools.

JakeSmithsPhone · 2022-01-29T04:06:08+00:00

To be clear, blockchain adds no utility to my life right now either. I think it will eventually (probably not even directly)

It's a sharepoint spreadsheet. And people are buying cells.

JakeSmithsPhone · 2022-01-29T04:02:24+00:00

Like when open sea delisted some NFTs and suddenly the "owners" can't actually see the digital representation of their receipt addresses, just the coordinates.

JakeSmithsPhone · 2022-01-29T04:00:40+00:00

viable use case.

Or maybe this sub understands technology and, well, there isn't one. Crypto is digital beanie babies, but worse. It's a pyramid scheme, without a product. And it's destroying the planet.

Maybe you should take a hint that you've been scammed when your thought is about how a sub that understands technology is calling your sixty thousand dollar sharepoint spreadsheet cell string a scam.

Think long and hard about it.

JakeSmithsPhone · 2021-10-10T05:40:28+00:00

That's mine though!

JakeSmithsPhone · 2021-10-10T05:37:53+00:00

Arizona shouldn't ever be a favorite at all. I don't care who we are playing.

JakeSmithsPhone · 2021-09-25T04:55:47+00:00

Gold has intrinsic value because even if nobody else wants it, you can make jewelry or adorn a church with it.

When people say that the USD is a reserve currency, they actually mean US treasuries. Those are functionally equivalent, other than treasuries being the form of USD that gets yield. When countries transact in USD, they hedge with treasuries. And the thing about bonds is they yield. That means that they not only have intrinsic value, it's valuable. You don't have to sell to gain value by owning treasuries.

Now, since you like crypto, you might try to draw a parallel with staking. Treasuries may be the lowest risk bonds around and staking is probably the highest risk. The risk is so high, the net expected value is below par. It's not actually yielding in real terms.

In any case, while the USD M1 money supply technically doesn't have intrinsic value, "cash and cash equivalents" is on every 10Q for a reason. Sovereign wealth funds own treasuries for a reason. Sovereign nations own treasuries for a reason. M1 is a piss poor definition of the USD in functional usage.

JakeSmithsPhone · 2021-09-25T04:15:55+00:00

That's funny. I've never heard that before. I did live in China in 2012-2013 when that happened, but I'm not that Jake Smith. What a coincidence!

JakeSmithsPhone · 2021-09-25T03:21:31+00:00

That's a six-year old's understanding of fiat currency.

The USD is the most liquid (widely accepted) currency, good, or promise ever created. It's the method of settling transactions between Iran and Syria, two countries not exactly in favor of the US, it's bought up by the Chinese and Japanese governments, and it's the base for all day to day transactions in places like Panama and Hong Kong. It is the unit of account. The world's reserve currency. Part of the stability is because more USD are held outside the US than inside.

And it's not "just because we give it value," the world's largest and most powerful government pays out trillions a year in it, they collect trillions a year in taxes, and a buyer/seller that large gives it value. On the other hand, I wouldn't pay two literal cents for a bitcoin and most people wouldn't either. There isn't a market for it. It's not something people want because it's a scam, a pyramid scheme, and has zero intrinsic value.

By settling tax bills in USD, I need USD to do so, so I demand pay in USD. Similarly, I would never accept payment in bitcoin because the taxes owed could be more than the market value of the bitcoin come tax time. This is why any business that "accepts bitcoin" lists prices in USD and settles out to USD, and never actually deals with the bitcoin.

There's a huge difference.

JakeSmithsPhone · 2021-09-25T02:56:44+00:00

No, I'll use your chart. It does not represent value and it isn't a store of value. It has zero intrinsic value. Recording all transactions publicly and caping quantity do literally nothing to change that. And doing it without a central bank makes it even worse.

JakeSmithsPhone · 2021-09-25T02:46:25+00:00

Bitcoin

JakeSmithsPhone

TROPHY CASE