Congress delays bankruptcy til Q4

Congress Reaches Deal To Keep Government Open Through September

Whew, making the direct jump to White Noise Holiday, shrewd. Watch the one year, see if Ned piles debt on the short end.

Woodward apologizes for fake news

Woodward: 'Mr. President, the media is fake news, we apologize'

He went on telling us how everyone fell for the  Plastic Ted Turner, fake intellectual  thing.

Trump tells the truth

(CNN)If you take Donald Trump at his word, making America great again is going to be quite a chore.The Republican nominee is selling an apocalyptic vision -- the US as an impoverished hellscape beset by bloodthirsty urban anarchists, a terrorist fifth column, and the machinations of globalist elites.Even the most mundane institutions are cast as symbols of existential rot. At every turn, Trump finds another "broken," "rigged" and "disastrous" policy to undo or abolish. Real worries and legitimate concerns share space -- sometimes lines in a single speech -- with Trump's dark fantasies.

Yes, just looking at the California rigs is enough to cause disunion.  Our best approach is to accept the reality of default. So maybe our president is prepping us to go full sandbox.

We have a direct solution to the bitcoin block size dilemma

Define the BTC as a coin which can interchangeably be applied to a class of block chain formats. So, use the big block for large trades, break it up with short blocks, and let the ledger service queues be priced. We get the class BTC, usable in four or five tokenization schemes, switched via priced queuing. Should be legal under sandbox rules.  But the scheme  only makes everyone more efficient because the sandbox separates token and coin.  The new technology from bitcoiners becomes available to coiners.

Existing financial regulations in the pit

Myriads, especially in Europe.  Read the Auotrader mag, most of their articles are about new regulations.  The sand box deals with this easily.  We have th legacy tax currency tokenization, it just connects the holder to Fedwire.  Then treat the existing financial world as a giant ledger service, outside somewhere in the smart layer.  The existing system is no a burden to the sandbox, but the sandbox becomes very noticeable to traders in the old system.  They can upgrade at their own time and place. In other words, the secure element defaults to a standard credit card the holder is using for trades, for example.

This is a standard approach in deploying new software, leave a default mode for the old system, fenced in.  It works.  So, we will see a lot of isolating and sand boxing portions of the old system as traders see money to be made in bridging the two.

But, there is no hurry, the smaller alternative currencies and buyers clubs sit below the tax observability of central banking. The little browns, like us, can take full advantage without freaking out the deep state.  We carry them alongside as long as they don't jump ahead in line.

I am lousy at deployment, but we got pros.  Software industry done there, been this and carrying the old system is not a problem, and done without bias.  The pressure is the multi-currency system, government eventually has to compete.  The approach, get the simple S&L and secure elements running with the block chain ledgers, leave a slot for central banking, they will jump right in and do what conversion seems urgent.

Louis R. Woodhil you are confused

Real Clear Politics,

The author  claims we can grow ourselves out of the debt we see in the top chart. Claims we have typically generated more than 3% of growth many times in the past.

 He fails to notice his own chart on the left where growth starts dropping in 1973 and continues to drop from then on; as the debt rose.

Where is the 3% growth coming from? It looks more like the end of the road to me, skyrocketing debt, very low growth, inability to budget, and soon default.  That is then norm, ponce a generation.

Filling in the blanks at the Chicago Tribune

The budget might just get your kid another six months of school

First, the good news: Chicago Public Schools will remain open this spring until June 20, as scheduled. Students, parents, teachers, principals, you may now exhale.

Unless your politicians continue to steal:

Staffers in Gov. Pat Quinn's office foisted new hires on the Department of Transportation and other state agencies without regard to need or qualifications, a court-appointed monitor found.

If you don't like it, please leave:

More than a year after first dropping hints about cashing in on its State Street store, Macy's is making it official: It's ready to sell. The Loop flagship is formally for sale — or, to be more precise, the top half of the building is available to potential buyers or joint venture partners.

They need rule  by AI. 

Free entry and exit in the sandbox

Business Insider on Brexit:

The complexity comes down to the fact that a departure from the world’s biggest trading bloc has never been done before and was never supposed to happen.

And the Magic Walrus prayer

“Nobody has united here against the U.K.,” German Chancellor Angela Merkel told reporters as she left the meeting. “The British people have made a decision, which we will have to respect. But we remaining 27 now get together in order to speak with one voice.” 

Must price left over contracts:

Luxembourg Prime Minister Xavier Bettel, who estimated the bill for checking out would be between 40 billion and 60 billion euros, said in an interview. The British “can’t get any more favors than a nation that isn’t in the EU,” he said. “The fact remains that it was their decision to leave the EU.” 

The standard guarantee against evolution

The final version demands the U.K. pay a bill that reflects what its already committed to the bloc’s accounts, including contributions through the end of 2020 when the current budget period ends. The EU also wants the British to agree to give European nationals living in the U.K. the right to remain there, including even those who arrive on the eve of Brexit. 

The sandbox handles regulation:

While she has suggested finance be included in any pact, the guidelines imply that would only be possible if the U.K. agrees to let the EU have continued regulatory oversight over banking. 

Not counting their pension taxes

Millennials owe a record amount of debt, and it could become a huge drag on the economy

Details on my new hybrid piston-electro conversion

I have the transformer concept going and use magnetic fields to replace the weighted crank shaft and transfer required torque to the piston.  The piston rod is wound with a primary, possibly electrified with a mild current.  The outside coil is the secondary, delivering much greater induced current into the propeller or wheel electro drive system.  The transmission control is all electronic, needing only to managed the smaller primary current.

There will exist a large power factor capacitor, but nothing much bigger than the clutch it replaces.

So we can see the weight loss is tremendous since the weight of a magnetic field much less than the mass it replaces. We get large, thick copper coils at the primary and secondary, but the larger mass of copper should be stationary, and the primary coil simply moves vertically. All he power bearings one except at the electro drive, valve and sparks times electronically as part of torque management.  Each, of a set of pistons, need only be integrated via electronic phase difference, not directly connected, except for collective fuel management.

Even further, we have opportunities to separate the piston drives on a per propeller basis, using direct power to stabilize flight, directly connected to an integrated electronic control. We get a very simple three prop stabilized system to make a V22 Osprey that really works.

Even further, we have the opportunity to bind the pistons with magnetically coupled secondary coils, possible parallel or series wound together.  This make heat management much easier since the magnetic flux is not always constantly dense at each separate piston. The copper will be generating heat which needs management.  Nor are we limited to linear piston arrangements.  With proper windings we can do circular arrangements,. even adding a tertiary coil to pack up the combined flux  of four or five pistons.

What about fine tuning the combustion stroke

No problem if you control the mild current on the piston rod.  We control all compression and exhaust profiles and optimize for maximum combustion.

The electrical engineers will back me up on this, press the go fund me button.

Getting the bitcoiners on board the sandbox

The group seems a bit schizophrenic. Sometime they seem to want their own sandbox,  but they depend entirely on  fiat pricing.  They are stuck in a dual currency world, and their is no such thing a a multi-currency sandbox limited to two  currencies.

No problem. The bitcoiners issue currency via the ledger system and we can still run zero bound savings and loans , at whatever risk level one chooses. It is the block chain and how it is used that makes bitcoin he central bank hedger, and they are stuck there, happy or not, they got niched. As I say, a very valuable niche.  They can keep on refining the block chain all they want, and good for us all, but that is a separate issue from the point of view of the sandbox.

Understanding red/green

The secure element, for various apps, promises to maintain some budgetary restrictions.  The spending history is maintained in a distribution so the probability of breaking the contract is revealed upon purchase. This can be fairly simple and fairly ad hoc, as long as the red/green indicator function is finely granulated enough to keep the consumer alert.

So the red/green is like price, it is an approximate price because it tells us when our reservations in the monetary network is being used. Using reserved spots in the supply chain is cost, thus price.

This function is very critical to apps and government; an absolute must.  Include it and government gets off your back. It is also mathematically required for optimum congestion, the consumer always gets his place in line.

The Fed addresses sandbox

Where Do Banks Fit in the Fintech Stack?

Go read it. It is written in the semantics of the old system.


The new system has none of the problems associated with the old. Savings and loans are automatically regulated and consumers automatically protected in the sandbox because they are all optimally congested, and safety cannot be improved beyond that. 

The central banking system needs to get all of its time promises up into the smart contracts, the sandbox don't do time and that is most of the problem. The rest of the problem is solved because the banks are all two color, profitless and so matches our double entry accounting system. Remember, pure cash always uses asynchronous.adjustable interest swaps between savings and loans based on current conditions.  No time anywhere.

 So, we solved these problems, this author is talking about old problems. We have the bounded variation on bit error and red/green warnings in the hard secure element. Combine that with autotrading and we get the best consumer protection available.  Big banks no longer have the government hedge for free, they have to pay for it.

Direct piston-electro conversion

Let's re-invent hybrid technology.

Remove the crank shaft please.  Let the piston rod run straight and true up and down, unconnected mechanically to anything.  Instead, it runs through the generator coil, say at fixed 3600 RPM, generating AC current.  Voila!  This is direct, piston to electricity.    This fixed speed engine can use larger pistons, maybe three pistons gets three phase. Change power factor using capacitors.

Now my airplane has a 400 pound motor-generator; equivalent to 1200 pounds of battery. My engine beats any battery flying machine from 10 kw on up.  Put the 100 kw in a car, beats any hybrid on the road, all electric, no mechanical drive anywhere. It can run on renewable covalent bonds. So long electric cars.

India up to bat

Bitcoin news 

According to local news reports and India’s CNBC broadcast, Indian government officials are in the process of possibly giving bitcoin legal status. Just recently India’s parliamentary inter-ministerial committee held its first meeting to discuss bitcoin and virtual currency use in the country. Authorities have noticed the vast volumes of bitcoin being traded by Indian citizens lately. The Indian publication Money Controlreported that a member of the committee stated bitcoin legality would soon be decided by the country’s officials.
India’s Parliamentary Committee Will Reveal Its Findings This May

I have no idea what they will do. I am interested in what they have learned about no arbitrage cash layer. The sooner they learn the lower the risk of coordination failure. Remember how difficult their cash requant?

This is why I wanted the CATO monetary team, they can explain all this to the central bankers in terms of the trading systems in place. They minimize coordination risk, make all our labor more efficient.  We could skip all the go around and around between two groups who do not understand each other.

The price of everything

In a model of flexible pricing for all purchase (auction), the price of something is the cost of carrying around empty spaces in the supply chain to accommodate your irregular demand for the thing.

The hardware wallet meeting

They want to do this:

“Having a safe and positive end-user experience is incredibly important to Bitcoin’s success, as is ensuring that the wallets themselves are both interoperable and robust,” Mr. Yemelyanov told Crypto Insider ahead of the meeting. “Over the last few years, the Bitcoin ecosystem has been maturing and it made sense that efforts should be made to foster coordination between interested Bitcoin wallet developers so that they can discuss the ways in which they can inter-operate with one-another, discuss the best security practices, take a look at upcoming technologies and answer each-other’s questions.”

Too complicated a statement but on the right path.
Let me make the correct statement:

Hardware wallet vendors will develop the cash card such that you tap on a glittery object an it becomes yours. Just like cash.

Second, as you tap, your wishes, wants and desires are incorporated into Singularity 1.0 which sets aside space in the pure cash network for you, you are always represented in the monetary system without bias. Never again will some bozo step ahead of you in line because of some political or unrevealed insider information.

That is what you want to tell folks.

Let's simplify this

In effect, what Francis delivered on his first day of his brief stop in Egypt was almost his version of Pope Benedict XVI’s celebrated, and controversial, 2006 speech in Regensburg, Germany, in which Benedict stirred a firestorm of protest by quoting a line linking the Prophet Mohammed with violence.
Francis avoided the incendiary quotation, but nevertheless delivered a clear and powerful call to religious leaders – which, in the Egyptian context, unmistakably means Islam in the first place – to reject violence in the name of God.
“Let us say once more a firm and clear ‘No!’ to every form of violence, vengeance and hatred carried out in the name of religion or the name of God,” he said. “Together let us affirm the incompatibility of violence and faith, belief and hatred.”

Muhumed was a child rapist, psychotic camel jocky. The only purpose of the legend is to make  dumbshit Arabs feel welcome.  

Atheist plot ti kill Saudi Royals gains wide support

Saudi man sentenced to death after declaring himself an atheist in online video

Further, all atheists will refer to Saudi Royalty as smell, Sunni camel jockeys

China does not want the problem solved

Reuters:

"The key to solving the nuclear issue on the peninsula does not lie in the hands of the Chinese side," Wang told the 15-member council in remarks contradicting the White House belief that it does wield significant influence. The ministerial meeting of the council, chaired by Tillerson, exposed old divisions between the United States and China on how to deal with North Korea. China wants talks first and action later, while the United States wants North Korea to curtail its nuclear program before such talks start. "It is necessary to put aside the debate over who should take the first step and stop arguing who is right and who is wrong," Wang told the council. "Now is the time to seriously consider resuming talks." Tillerson responded: "We will not negotiate our way back to the negotiating table with North Korea, we will not reward their violations of past resolutions, we will not reward their bad behavior with talks."

North Korea is a proxy for war against the USA.  The Cinese position has always favored North Korea's nuclear development.

Good news

The UK issues economic reports that set markets.  Everyone leaks the information, naturally. The UK government should just share the data as it comes in.  The UK government is getting clobbered in the sandbox until they figure this out.

The analysis was carried out by Alexander Kurov, Associate Professor of Finance at West Virginia University, for the Wall Street Journal. Readers might recognize his name as he co-authored a working paper published by the ECB last year that suggested some US economic data is leaked ("Price drift before U.S. macroeconomic news: private information about public announcements?").
For the UK, Professor Kurov found significant price drift in both Gilt futures and the British pound prior to the time of release for inflation, industrial production and labour market data. By contrast, he found no evidence of information leakage for Swedish economic releases when looking at the price action in the Swedish krona. His study shows that in the UK, in the hour prior to the publication of the economic figures, about half of the impact of the data is priced into the market. There is almost no pre-release impact in Sweden, where the move in EURSEK, the most liquid krona-denominated product, averaged less than the bid/offer spread.

LA Times does fake news

Brown signs bill raising gas tax and vehicle fees to pay for road and bridge repairs

This is fake news.. 

The LA Times knows this is about pensions.  They deliberately lied to the little brown people of California.

Senate bankruptcy delayed

The US Congress has passed a stop-gap spending bill to keep the government running an extra week.
It will now go to the White House for the president's signature, and will buy Congress time to reach a deal to fund the government until September.
It came just hours before a funding deadline expired, threatening a second government shutdown in four years.

Brain shortage

Fintech startups, many with highly limited funds, are being forced to spend thousands of pounds more on tech talent as an increased demand for data scientists and web developers is pushing salaries sky high.Pay for young data scientists and web developers has rocketed by up to 20% over the last 18 months, fuelled by a skills shortage as big banks and retailers increase their demand for web specialists.

Doomed because we cannot figure out what we do. 

Scary chart

Consumption growth stopped. Must find out where consumption crashed the most.

Here it is for final quarter 2015. 

Bitcoin booming

The price of bitcoin has seen a spontaneous rise during the last week of April as the cryptocurrency’s fiat value has climbed to new highs. Over the course of the afternoon and evening of April 27 bitcoin’s price spiked to an all-time high of US$1360 across global exchanges. 

Best central bank hedge available.

Escape with your pension check, the millennials will cover it

Susan Gifford moved last August from Rome, New York, to Garden City, South Carolina, where she lives in a home two miles from the beach. “The weather was the motivating factor, getting away from winter,” the 67-year-old retired teacher said.

Almost 600,000 Americans moved from the Midwest and Northeast to the Sun Belt states last year, the most since 2005, according to Brookings Institution demographer William Frey. Migration is boosting growth along Southeast and Western coasts as well as Nevada and Arizona, reflecting a healthier national economy that has made it easier to re-locate.Retirement centers Myrtle Beach, South Carolina, and The Villages near Orlando were the fastest growing metro areas in the U.S. in the year ended July 1, while a flow of younger workers have led to employment booms in Florida, Georgia and Nevada, all growing at almost twice the rate of the nation.

No US Constitution in California

California Is Seceding from the Constitution

We have permanently adopted the corrupt state system of Old Mexico

A rigged ten year make housing bubble

When GS rigs the senate interest charges then housing booms. We be better off defaulting.

Whoops

A new Loyola Marymount University poll reveals Los Angeles residents are increasingly concerned about a repeat of the 1992 race riots the roiled the city, and nearly 60 percent now think a similar outbreak is likely in the next five years.The LMU report, titled “LA Riots 25 Years Later,” shows the highest percentage of L.A. residents who think another race riot is looming since the survey was first conducted in 1997 – a figure that’s 10 percent higher than 2012.

In or out?

This: 

Baltimore and the U.S. Department of Justice on Thursday began their formal search for a monitor to oversee sweeping reforms to city policing mandated by a court-ordered consent decree.The request for applications from prospective monitoring teams marked the first step in the process since a federal judge approved the consent decree earlier this month.

And this: 

Baltimore’s mayor asked the FBI to send in reinforcements Wednesday to help the city get its murders under control.
Mayor Catherine Pugh, speaking at a news conference, explained she went to the FBI’s Baltimore office for extra agents to join with police officers in combating a skyrocketing murder count, reports CNN.
“Murder is out of control. There are too many guns on the streets. We’re looking for all the help we can get,” Pugh said.

Evolution in action

It is difficult to overstate how desperate the present state of the Puerto Rican economy is. In each of the past 10 years, its economy has been contracting, and it is now more than 10-percent smaller than it was in 2006. Over the same period, more than 10 percent of its population has left the island for the mainland and its unemployment rate has risen to over 12 percent of its workforce.

By any other name we get the same biology. 

Price me this

I am told that California has found nirvana with 3% growth in 2015, and a job growth second only to Florida. Texas likely is doing at least 1%. Now, today we hear that Q1 GDP is up about 0%. Something is severely askew, because that makes the Northeast have something like a -1% growth, recession. If that is the  result, fine, we all expected it.

The other theory is much worse. What if all that Florida, California, Texas miracle all collapsed in one quarter?  That is a requant moment, the pit boss be busy.

Government inflation hedges in the sandbox

Don't work.

As soon as the law is passed the bots will bet probability of failure.  As the bets pile in, he inflation promise will fail and default. The pits compute the default costs.

No big deal, but better for the government program is to promise that program reserves always earn the even money bet on the tax dollar.  We can enforce that in the pits, all S&Ls that meet government standards cone with the even money bot.

Government will find lots of efficiency, and new taxes in the smart layer. But the large programs should bet their own do-re-me.  Put them on cash flow accounting, we are all better off.  Otherwise, the bots will compute the equivalent cash flow while government be blind.

The unfounded fear of central bankers

Half of their market losses under the sandbox are simply undiscoverable inside information being monetized in the sand box. The half of market losses is the ill structured swamp government.  But we quickly price bad government, and the senators reform a bit, and central banking gets a bunch of market share back, especially after swamper learn to tax in the smart layer. It will be the fairest deal around, do it right and avoid the coordination issues, no problem. Call me, my fee is a million, I will hold your hand and sound like I know something..

Handwave another optimum congestion proof in the sandbox

I have to show that the optimum queued channel, as defined by the compact tree results in a quotient ring, something that prices. , But, my proof includes a catch and release bit error. Much simpler.  I can show that as the stable significance distribution centers, it become twos bit arithmetic, and that can integer divide with half point bit error carried as a remainder.  But I hand waved the former earlier, and my hands are tired.  Look, the mathematicians will agree with me, we have the automatic S&L nailed, push the go fund me button. 

What are the Alters fighting about at Bzerkeley?

We got the Alt-right and the Alt-left engaging in sport at Bzerkeley plaza. What is it about?

There is no critical state or federal emergency, it is not like LBJ is on a genocidal rampage or something.  No other campuses are squaring off in the sport, where is the debate?

This is about Alt-L taxing Alt-R for more public sector jobs, plain and simple. The usual California tax battle, happens every ten years when the do-re-me runs out.

Money won't cycle in the sandbox

A chart from Tim Duy about rate tightening cycles.  Money that cycles is bad money, off equilibrium.  With these kind of money cycles we can be sure government will go broke.

The problem here is the government currency insurance guarantees, especially fixed prices in government programs.  They always leak, mainly because they are hedged all the through the money cycle.  Hence, government reaches a point where it cannot guarantee the currency and the economy collapses.  Note, in the USA all these tightening cycles are most synchronous with government election cycle, and this is monopoly money.  The two facts alone tell us we are crashing and no amount of central bank delusions can save a bankrupt government.

Timmy, socialist welfare bum

Apple has held talks with Visa about making its own pre-paid debit cards, Recode reported on Thursday.The pre-paid debit cards would tie into an unannounced service that would allow iPhone users to send money to each other digitally. 

Timmy Cook, you idiot.  You do not need the central bank, to exchange dollars.  Think it through a bit my tiny brained friend.  The central bank gets you a registered savings and loan account, regulated. Just create your own automate savings and loan technology, set the profit function to zero, and you ate fine.  Since your profit is zero, your costs are zero, the regulation  is quite simple, all the capital requirements gone.  Further you can get government off your back by limiting price volatility as needed.

Another choice would to denominate  in Apple coin, then separately we can trade Apple coin for dollars.

In other words, Timmy, connecting wires does not do the trick for money, you have to figure out how pricing works, or go beg to Trump for Timmy insurance,

Q1 ,might be revised to negative growth

Atlanta Fed has growth for Q1 down to .2%, and that means we are still at risk for a backdated recession if unemployment shoots up in Q2.
So, we did not quite out-fox the Q1 downturn problem, it has gotten worse.

So the new plan is bounce along at near zero growth indefinitely until the sandbox is ready for government defaults. Otherwise it is coordination failure hell.

Thanks for sanity

Democrats Threaten To Shut Down Government If GOP Passes Obamacare Repeal

Shut it down, best solution mentioned so far.  

Now  let's open our eyes to the concept of default.

If there is no lump of labor then immigration is not useful

Reason?

The central flaw in arguments alleging a negative impact on native employment due to the presence of foreign scientists and engineers is that they are based on the “lump of labor fallacy” – or the notion that there is a fixed number of jobs in the economy. Hence, the argument goes, if you increase the number of workers, you get lower wages and rising unemployment. But high-skilled tech workers grow the economic pie by boosting productivity, encouraging more investment and increasing entrepreneurship. Overall, they create jobs.

Thea author says it all in the boldface.  Read that passage, then ask why is he defending immigration? If there is no lump of labor, then all the skills we need come from encouraging more investment and increasing entrepreneurship. 

 All of these arguments have one thing in common, the authors do no believe in evolution, they believe in fairy godmother, then make up contradictory shit just to deceive. There is in fact lumps of labor, labor shortages happen all the time.

The corrct argument for immigration is a desire to make some existing group extinct, like the American Indian, or Vietnamese rice farmer.  The period of science denialism among the kanosian fools is over and done with, .

If there was no lump of labor then why is Illinois being evacuated and why is the  Chicago crime rate up to 1,000 murdered a year? All that is happening because kanosians plan evolution and lie about it.

More taxes or more bankruptcy in California

ANTIOCH — The city’s top finance official is warning that unless Antioch reins in spending and renews a half-cent sales tax or finds another source of some serious money, it will be facing bankruptcy in the next few years.

Trump is correct

This post is about gas shortages in North Korea, and points out that China fuels North Korea and could easily force the North for negotiate fairly. So, Trump is correct, this is rigged trade against the USA, a direct military alliance to nuke Hawaiian surfers.  This is not free trade, this is a direct act of war against the USA by China.

China supplies most of energy-poor North Korea's fuel, and in lieu of official explanations, rumors are rife that Beijing is behind the shortage. The concerns are adding to a tense and uncertain mood on the Korean Peninsula since U.S. President Donald Trump assumed office with repeated calls for Beijing — Pyongyang's economic lifeline—to get tough on North Korea, which has responded with counterclaims Washington is pushing for a nuclear war.
Though trade between North Korea and China appears to be solid, and possibly even growing, there are indications Beijing has been quietly tightening enforcement of some international sanctions aimed at getting Pyongyang to abandon its development of nuclear weapons and long-range missiles.

Central banks already have e currencies

Why All Central Banks’ E-Currencies Will Fail Horribly

They have Fedwire and swift, all digital currencies.  This author mistakes block chain for digital currencies, and block chain is not necessary. Central banks get consensus because they can go to court and order armed agents to take our homes.  Tax, a good enough consensus, done by legislation.

The author criticizes end point security, claiming secure elements operating with the null ledger service cannot guarantee security.  But technology has shown that end point security is as good as Fedwire or swift or paper or even gold.

What this author really means is that we have no sandbox until we have auto traded savings and loans, a requirement for network congestion.  That problem especially applies with bitcoin which cannot price anything without reference to a central bank currency, and there in is the rub.  All of these crypto currency deals, so far, rely on socialist central banking services, and in this the author is right.  If central banks gave up the S&L business, then bitcoin has no comparable techology, and would die.   

But that indicates the original bitcoin concept was incomplete, not sustainable.  Now what? The only people who seems to have noticed this problem is CATO and a politically incorrect blogger. Waddya gonna do?  I suppose we could just assign all price compression rights to Timmy, just because we need to hold a hand.

Segwit looks like a tokenization service

A sandbox observation.

The trading pit reference design expected three things, the token, the coins and the trading bot.  The bot is new and required since the pits auto-price. The coins had coinID and value.

The token connected the trading pit to some external conditions on the secure element issuing the trading request. The trading pit may require liquidity limits and pre-registration which can be enforced via the token. Or the trading pit is connected to an application, like a buyers club. The pits referred to a tokenization service to obtain conditions on the auto-trade request.

The token were issued by the secure element, using a script, established  when then application is tapped. The null token always works in the sandbox, but may not be accepted at every pit.

Unexpected consumer surplus

Dollar tree portion sizes are larger.  Wholesalers are dumping excess inventory.  Consumers are stocking up, home production will increase and parts of the restaurant businesses will demonetize. My corner grocer having a rough time.

Week by week

 Sure sign of bankruptcy:

The U.S. House of Representative could move soon to consider a bill to fund the government for a week to avoid a shutdown at midnight on Friday and buy time to strike a deal for a long-term funding plan, a House Republican source said on Wednesday.
A one-week bill would give lawmakers "a little breathing room" to complete negotiations on broader legislation, the source said.

Folsom school boards takes bribes cuts teachers

Start with the bribery system for school boards:

Construction, architecture, engineering and labor interests that could receive school building contracts are donating money to pass facilities bonds on Tuesday’s ballot.Donors had directed more than $110,000 toward passage of three Sacramento County bond campaigns benefiting Natomas Unified, Folsom Cordova Unified and Robla school districts as of Oct. 21, according to election records and the campaigns.Most funds come from companies and unions that could benefit from the building and refurbishing of schools. Bond campaigns use the money to produce mailers, signs and advertisements, as well as to cover the cost of consultants, phone banks and canvassing.

Followed by this:

Superintendent Deborah Bettencourt took the unusual step in April of sending an email to Folsom Cordova Unified families and staff warning that the school district faces two years of red ink.

We see the pattern.  From San Diego to Folsom,. school board members were on the school construction bribery train due to low interest rates.  Now they cut teachers pay. This is classic timing for the bust, done only the way California could do.  I think they various vigilante group meet and plan recessions.

We do this in California because the county government system is 100% corrupt, as it is in Texas.  

Read more here: http://www.sacbee.com/news/local/education/article146448049.html#storylink=cpy

And we see tha pattyern. 

Read more here: http://www.sacbee.com/news/investigations/the-public-eye/article3519827.html#storylink=cpy

Dan Rather starts fake news program

MICH, fake new reporter reporter Michael Kruse on Dan 'The Fake' Rather. The program airs on radio and is called "Make shit up with Dan"

With millions of Facebook fans and the freedom to speak his mind, the 85-year-old journalist is back in the arena—facing the opponent he’s been waiting for his entire life.

Backwards on central banking theory

Do it the way we do it for pure cash.  First define the necessary no arbitrage, distributed, finite model.  Savings and loan banking with a bit error function.  Then add the monopoly hedges, allow for shadow currencies, break up the deposits to fit your semantics.  There does exist a semi random model for distributed pricing.

Pot,kettle, black?

CA attorney general: The Trump administration is 'in denial' about its executive powers

The CA AG enforces an outlaw, illegal racists state.  Unions have taken our basic rights, unconstitutionally, and you enforce these laws. You should be tarred and feathered. County welfare unions run and deploy violent anti-white vigilante killers, you approve.

The electro drive is great, but covalent bonds beat ionic

The electro drive fans make for stable rotation of the fan exhaust, something very difficult with mechanical drive.  

But we can replace 1200 pounds of battery with 600 pounds of efficient motor-generator. Then you get 600 pounds of fuel. New, lighter weight piston engines, and turbo-electric options are available. Liquid fuel will always win these races, possibly over hydrogen fuel even.  The hydro carbon bond carries energy.  The best environmental bet is to make sustainable hydro-carbons from atmospheric CO2 and sun.  Difficult, yes, but we are consistently getting closer.  

A farmed hydrocarbon would beat batteries in sustainability for short production runs of a few planes, because the battery supply chain is not up to snuff.  It is ten years before we have a surplus of batteries to carry them around  in helicopters.  Advances in hydrocarbon technology takes advantage of existing engine systems.  Biggest payoff, research in generating hydrocarbon fuels, and use the carrying capacity of atmospheric  co2 without overloading it.

I'm still laughing

WASHINGTON (AP) - President Donald Trump plans to propose massive tax cuts for businesses big and small as part of an overhaul that he says will provide the biggest tax cuts in U.S. history. In addition to big tax cuts for corporations, Trump also wants to cut taxes for small business owners from a top tax rate of 39.6 percent to a top rate of 15 percent, said an official with knowledge of the plan. The top tax rate for individuals would be cut from 39.6 percent to the "mid-30s," the official said. The official, who spoke on condition of anonymity, was not authorized to discuss the plan publicly ahead of Trump's announcement, scheduled for Wednesday.

Start and stop swamp

Trump Signals Shift on Wall Funding to Avert Government Shutdown

We expect this, the economy has geared itself to a bankrupt, start and stop government in the swamp.

Economists can change the semantics all they want, but a paralyzed, debt ridden start and stop legislature is bankrupt. Goldman-Sachs is trying to get interest payments made, but the potential growth of the economy is about 1.75%, and the swamp typically pays the ten year rate.  GS has to target a narrower window on the ten year, 2.0-2.4; all they have is  40 basis points now.  Everything in the senate has to be carefully orchestrated, else they get a sudden jump in interest payment and small states lose their cookie.

We will get a big rush of consumers wanting the new crypto coins.

Change the name and avoid confusing yourself

Everyday economists simply adopts the excess reserve semantics of Bernanke without any backing theory

To say that banks are holding excess reserves because they have no other choice is therefore incorrect. While it is true that banks must hold the quantity of reserves determined by the Federal Reserve, their decision-making will determine whether they hold these reserves as excess reserves or required reserves. If banks are holding excess reserves, this implies that there is no operative mechanism of deposit creation. We might want to ask ourselves why this is the case.

The simple theory is that banks hold deposits and loans.

 If a bunch of human run around trying to call some of that excess, or capital, or Kanosian or whatever shit, all that means it that they are confused.

The system does two color trading of deposits against loans. The longer the economist attempts to make sense of a three color model they will waste their time and resolve back into a two color model. We do not do triple entry accounting.

Kanosian multipliers less than one

Stephen Broadberry, John Joseph Wallis from NBER:

Using annual data from the thirteenth century to the present, we show that improved long run economic performance has occurred primarily through a decline in the rate and frequency of shrinking, rather than through an increase in the rate of growing. Indeed, as economic performance has improved over time, the short run rate of growing has typically declined rather than increased. Most analysis of the process of economic development has hitherto focused on increasing the rate of growing. Here, we focus on understanding the forces making for a reduction in the rate of shrinking, drawing a distinction between proximate and ultimate factors. The main proximate factors considered are (1) structural change (2) technological change (3) demographic change and (4) the changing incidence of warfare. We conclude with a consideration of institutional change as the key ultimate factor behind the reduction in shrinking.

Bold face mine.  
Conclusion, government stimulus is an accumulating bailout  of unsustainable programs. That makes kanosians responsible for war crimes.

John Kasich makes stupid an art form

John Kasich to Trump: You’re the father of America. Act like it.

Bank of Korea is not worried about coordination failure

BOK concludes that fiat and botcoin will co-exist:

“High costs of using fiat currency increase the demand for digital currency,” details the BOK research paper. “Similarly, high costs of using digital currency relative to fiat currency raise the demand for fiat currency. In a world of imperfect currencies with uncertain costs associated with the use of a currency, it is unlikely that the relative costs of using digital currency will be low enough to drive out and accordingly crowd out fiat currency entirely.”

Great, let's move on. 

Let's handwave some proofs for price compression

We need to prove some converging properties for price compression. In particular, when we have a Huffman tree, organized by significance, and it is balanced, then each value decodes to the same path length. But they are unbalanced.  That means the collection of values are bunched up for a lot of short paths.  These are values which are insignificant relative to a few large, infrequent events.

How can we balance a skewed Huffman tree? If the values incoming have constant returns to scale, then  successive input value rounding will lead to a balanced tree. In other words, consider what happens in S&L tech.  Suddenly large loans be inserted into the loan tree.  We need to restore balance by rounding (imprecision) so the tree again matches the deposit tree, and interest charges are a compute ratio across queue sizes, paid according to the percent of rounding, accumulated up the tree. We are measuring the imprecision in supply compared to the imprecision of demand, as reflected in the incoming deposit and loan events.  Rounding toward tree balance is like diagonalizing a matrix.

Does it work?

Well, in the extreme we now there exists a balance, one digit price.  But, any incremental rounding tends to shorten the long paths, and leave the short paths the same.  If scaling is constant, proof enough for me.  Do deposits and loan events scale? I think, unproven, that values scale sufficiently when queues are balanced.  The bit error, and currency risk in the model is the imbalance between loan payouts and deposit earnings.  It is the deviation of -iLog(i) as they differ from one. It is a denomination error because the real accounts never actually scale in queue size perfectly.

We want balanced trees becaue they have returns to scale. Rounding keeps all queues thew same size. In the real deployment, the rounding bounds on savings and loans are the variance bounds preannounced. Rounding is easy for the traders to understand.  Loans in 8 bins, deposits in 32 bins, bins sizes determined by market conditions.

Worth a patent

Duke Engines' incredibly compact, lightweight valveless axial engine

Instead of cam- or pneumatically-operated intake and outlet valves, the cylinders rotate past intake and outlet ports in a stationary head ring. The spark plugs are also mounted in this stationary ring – the cylinders simply slide past each port or plug at the stage of the cycle it's needed for and move on. In this way, Duke eliminates all the complexity of valve operation and manages to run a five-cylinder engine with just three spark plugs and three fuel injectors..

Mike said something

Michael Pento via PentoPort.com

I like his style.

Great news

Lunyr, the first decentralized knowledge base built on Ethereum, has announced that its crowdsale has successfully exceeded the minimum target of 25,000 ETH. The project will be launching an Invitation-only Alpha soon.

But where are the fair trading pits? Upon what will they build knowledge except for events in pure cash?

Same folks trying to do me in

BART takeover robbery: 40 to 60 teens swarm train, rob weekend riders

The county welfare systems breed anti-white vigilantes. The idea is semi legal, ad hoc income transfers.

Can the pits do a better government default

John Cochrane answered a related question about using inflation to whither away government debt. I think statistically, dumping time we can get closer answers.

One version, out of many, will default a tiny portion of government debt across the curve, favoring the deposits that most match the final outcome.  One algorithm: When the variation between savings and loans drops below 1%, the central banks defaults a tenth of a point of government debt.  That is, the central bank, rather than be hedged, the central bank forces the hedge on the economy, requiring a 1% or more price variation, in anticipation of the defaults.

Now the central bank and the bankers  have equal visibility of the trade book and the ability to make asynchronous bets, from a queue. The central bank will never hit its target, just float around it.  Time plotters will observe a 1% short term rate, but the currency risk is bouncing around that term length; time plotters have time error.

The economy, meanwhile,  is doing entry and exit, however, and I am sorry about that.  Firms unable to meet the cost of defaults, drop out; or use an alternative currency.   The overall gain is actually quite nice.  Firms not easily taxed and most harmed by government costs go off the system, and their cost to government and the economy drops.  Various government expenses across the programs become more visible.

The math

Look at John's equations, the series on the left.  It is the infinite sum of returns.  We use compact distributions, and that is a finite  series with computed window length, simply the sum accumulated up the matching tree, that is, the pay off strike prices.  The prices will be quantized accumulations up the tree of  the 2% induced price variation.  The  more we default, the lower the tree rank, the lower the economic complexity, and the more utilization of alternative currencies.

The problem soled is separating currency risk from the cost of entry and exit, the TBTF problem. Currently, TBTF includes the accumulating bit error, it is not visible, the nickels and dimes stack up.  The implied cost is in all the inflation adjustments, and price fixes across the programs.

Entry and exit need to be priced. The Cochrane systems handles default fine, random events with replacement. But the actuality is that some of those mis-pricings have to be absorbed by the pit boss, as they represent accumulated price errors, the market liquidity to 'make the market'.  Currency error are not observable by anyone, are not an assignable cost, have no pricing surface by definition.  This is different from price variations which are expected.  Being purely untradable, bit errors need to be accumulated if currency is conserved.

A bigger threat to democracy

Schumer: "U.S. Is No Longer Fact-Based" Nation; Breitbart News A "Threat To Democracy"

Schumer himself, the bankrupt and anti-democratic senate.

Let's invent the kilometer reflector telescope and cure global warmng

Look, building a kilometer in diameter light collector is a no brainer as long as the relative imperfections of the parabola can be measured and deconvolved from the image. So we can imagine an unfolding super structure in low earth orbit. We have a connector system, and haul up the curved sheets in mechanical stacks with an unfolding mechanism built in, semi-automated.   Then, we need to float a 3d focal plane out farther, another 100 Km, in a slightly different orbit. The focal plane is semi-elliptical, collecting in both lateral and radial.  But, using coordinated orbits, we can dump a variety of the smaller focal planes to orbit  above a smaller number of huge reflectors.  Take everyone's position, but use a known astro object for final focus adjustment. Just do not let the singularity listen unless the signals closely censored.

How dismal the technologists

I google searched the following:
python trading systems


So I am looking for fully automated price compressing engines with an exposed tradebook having round robin access. I should also see slot space for trading bots, in the pit.  Some mention of fully secure memory validation.

Nothing close, I couldn't believe it!  The python community cannot be that dumb as to be unaware of where this is all heading.  Nor can I believe we have 20 different unicorns all secretly doing the same thing.

Something is goofy in the tech markets at the moment. If n I did this all myself, I would be so rich I would be changing batteries in my secure element twice a day.

The millennials are not paying for Jerry's Dills Act

Split roll property tax proposal is really a pension tax

When state Sens. Nancy Skinner, D-Berkeley, and Holly Mitchell, D-Los Angeles, introduce a split roll property tax to increase taxes on business property, you’ll hear arguments from advocates that the tax money is for the schools and local services such as libraries and police. In actuality, the measure is a tax to fund public employee pensions and health care costs.

It is not a question of votes, or legalities.  

The millennials cannot afford the pensions costs, they did not vote for the law, they have not had rights of free assembly, they live in an illegal racist state that sends hit squads out to kill whites.

Read more here: http://www.sacbee.com/opinion/op-ed/soapbox/article145645924.html#storylink=cpy

The Dim Kim Son needs a professional war declarer

Hot Air:

It feels as if a week doesn’t go by without North Korea’s diminutive dictator, Kim Jong-un, threatening to nuke somebody… usually the United States. 

It is hard work throwing darts at a map then declaring war.  The Dim One needs to hire John McCain or Lindsey Graham, they are professionals. 

Chairman Mao of Alabama

He says we gonna have coordination failures when we deploy sandbox. Bummer. 

Alibaba Group Holding Ltd. Chairman Jack Ma said society should prepare for decades of pain as the internet disrupts the economy.The world must change education systems and establish how to work with robots to help soften the blow caused by automation and the internet economy, Ma said in a speech to an entrepreneurship conference in Zhengzhou, China.“In the next 30 years, the world will see much more pain than happiness,” Ma said of job disruptions caused by the internet. “Social conflicts in the next three decades will have an impact on all sorts of industries and walks of life.”

Listen to Ned sell currency insurance

Reuters: U.S. Secretary of Interest Payments Ned Ryerson, said on Saturday that the Trump administration's tax reform plan would produce some "short term issues" when viewed under traditional "static" budget analysis rules.His comments during an interview by International Monetary Fund Managing Director Christine Lagarde suggested that the plan would not be revenue-neutral and would increase deficits in the short term.Ryerson said that the tax plan would pay for itself when viewed through a "dynamic scoring" analysis, which accounts for the increased tax revenues that would be produced by higher growth prompted by the tax changes.

One might think Stanford law professors the definition of democracy

WA Post: Nathaniel Persily, a law professor at Stanford University, is among the many — academics, political practitioners, journalists, law enforcement officials and others — who are attempting to understand better the consequences of conducting campaigns and governance here and around the world in the Internet age. He has written about this in a forthcoming issue of the Journal of Democracy in an article with a title that sums up his concerns: “Can Democracy Survive the Internet?”

Well, Nat, we are not a democracy and most of the problems you think you found are likely related to the disparate size of the states we have.  I am sure the state issue was well covered in Constitutional law.  If not. I consult, call me and for a million dollars I will teach you the definition.

What if squad of these nuts gun me down in the streets of Fresno?

North Korea has detained a US citizen — the 3rd American now held there

No doubt the Dim One is pissed at my Sea Gull stunt by now. 
Likely has a squad with the nerve gas on the way. I am upping my odds of being murdered.

No, not Joan!

She did the first Frexit:

Joan of Arc (French: Jeanne d'Arc,^[5] IPA: [ʒan daʁk]; 6 January c. 1412^[6] – 30 May 1431), nicknamed "The Maid of Orléans" (French: La Pucelle d'Orléans), is considered a heroine of France for her role during the Lancastrian phase of the Hundred Years' War and was canonized as a Roman Catholic saint. Joan of Arc was born to Jacques d'Arc and Isabelle Romée, a peasant family, at Domrémy in north-east France. Joan said she received visions of the Archangel Michael, Saint Margaret, and Saint Catherine of Alexandria instructing her to support Charles VII and recover France from English domination late in the Hundred Years' War.

With a litle help from mass religious delusions.   Drudge has her pic:

Here is another: