Thursday, March 22, 2018

Exit is a bit crowded

The stock market’s tumble is starting to show signs of panic selling

Because we are all hgh speed traders

Mat Levine is critiquing yet another crypto tethered to fiat accounts. What is solved

Answer, it gets around the multi-step fiat transfer protocol as that jams the escrow machine. Sandbox needs digital bearer cash, the stable coins tethered to fiat is a work-around until central banking provides a digital bearer cash format. 

The bearer cash network needs consistency check on bearer assets, and blockchain is handy. But finite consistency is all we need, secure bearer assets for duration of trade sequence.
If your cryptocurrency requires you to trust banks to give you fiat currency, you could just have a bank account. What problem does this solve? If you trust fiat currencies to hold their value better than cryptocurrencies, and you trust commercial banks to keep your deposits safe, why slather an extra layer of blockchain guff over your fiat bank deposits? 

Power of Attorney via secure bot

International Banker reporting on Open Banking standards in UK:
Saturday, January 13, 2018, marked a significant milestone in building a better and more open future with data when the United Kingdom’s Open Banking Standard 1 came into force—ushering in a secure set of rules, technologies and standards that allow customers to give companies other than their banks the permission to securely access their accounts. 
 For the Open Data Institute (ODI), 2 the Open Banking Standard represents a constructive step, helping consumers to take greater control of their own data and offering the potential to change banking services for the better by improving access, driving innovation and encouraging competition.
If I have a trading sequence, I would like the secure pipeline to lock my bank account so that I may treat the funds as bearer cash.  Even my ownership of a public stock is a trading sequence utilizing automated deposit of funds in my person account from funds in the  corporate account, which I own.  This creates a much different legal system, ownership by personal contract without re-assigning funds to a trusted third party.

We have better fake news tools

The database is designed for users to create fake news, great fun. I do it quite often.
But Zuck has lousy fake news tools, they  have this automated farmatter working real time as I post. But off line I have much better formatting tools, it is all html, afterall, and a lot of us know that grammar well.

Passing the point of no return on Cal pensions

The market needs to gain about 15% from the remaining three quarters to avoid financial crisis in local Calizuela government. The planners now doubt the possibility and the pensions out here are draining the market for cash payouts.

What we will see are more and more hiring freezes in local guv. State guv has already lost its planned capital gains taxes and will barely break even.

Florida is the entitlement business

Low Taxes, Weather Make Florida Cities Fastest-Growing in U.S.
Dunno what the author meant, didn't read it. 

When the subject if Florida the answer is tourism and huge cash flows from medicare and social security. 

Citi's well regulated militia attacks NRA terrorists

Citigroup Enforces Gun Control Restrictions On Customers

Phillips curve died in debt

Jerome Powell drops a major hint into the true state of the job market — and it suggests the Fed is making a big mistake
Debt deflation is what we have, more federal debt diverts money flows to interest charges, not wages. We will get inflation when we implement the defaults. The Fed is quite aware of the problem, but can not say it without being fired.

Wednesday, March 21, 2018

Ridiculous idea

Larry Kudlow, the new director of the National Economic Council for President Donald Trump, wants to change capital-gains taxes by indexing them to inflation.
There is no inflation index compatible with an arbitrary set of public corporations. Government has no business pegging to an arbitrarily thing called inflation.

Larry us a dunce and anyone who thought a bit about government inflation pegging should figure it out. 

Sounds like socialism

Ellison believes that providing the homeless with firearms to defend themselves would serve to act as a deterrent.
So who declared him libertarian?
Michigan candidate for US Senate, Brian Ellison, who is expected to be the Libertarian party’s candidate in the November midterm election, 
Libertarians with the uppercase L!  Sorry, they still socialist rat.