You wrote deflation, but I think you meant inflation: with deflation the purchasing power of the $5000 borrowed would go up, not down.
Either word, this commenter, doesn't know too much about what they are commenting on.
Readit Newsnotarealaccount commented on Say Hello to Full Employment theatlantic.com/business/... · Posted by u/jchrisa
Dead Comment
There's a few people like Will Roper (former MIT prof) and Raj Shah in the military that are introducing agile thinking into the military, which it desperately needs. Other countries are catching up and it's fast becoming the case that software is the only thing that really matters in warfare.
http://www.foxnews.com/tech/2018/06/07/f-35-to-2070-air-forc...
I call BS on this [0]
If the emperor were ever naked, this would be it.
Contrast this "trade secret" to a chat with an Oxford don, and you'll find the don is quite straightforward in admitting they are fallible. Some admits are duds, and some are hits. Decisions are made based on a small amount of information, but only the dons decide what happens. They try hard to let in disadvantaged kids, but it's a crap shoot deciding who has potential and who doesn't. They rarely care about anything other than academics. (I'm not sure how they recruit the rowers.)
It's just laughable that an admissions process is a trade secret, and unless there's a compelling explanation given, I would assume they claim this because they are being sued by Asians about bias, and giving places to legacies, which is just as bad for a place that sells itself on excellence.
This is an issue at Stuyvesant High School too.[0]
[0] http://www.bkmag.com/2015/03/31/only-ten-black-students-were...
notarealaccount commented on Eric Weinstein on the crisis of late capitalism vox.com/policy-and-politi... · Posted by u/lgregg
I think it's interesting, but limiting, how he focuses on the creative arts as a solution: "to remind ourselves that the hotel maid who makes up our bed may in fact be an amateur painter? The accountant who does our taxes may well have a screenplay that he works on after the midnight hour?"
I'll submit that many, maybe even most, folks do not have these levels of creative aptitude. Moreover, the majority of creative output is crap to the majority of its consumers. I agree that the educational system is primarily ill-equipped to get people out of the current mentalities of employment, but I also think that there will be a certain, possibly large, subpopulation that doesn't have the aptitude or interest to do these sorts of things, even if there were such "magical training" to generate creative output that was valuable and desirable to most other people.
Even for the other fields he cited, like engineers, hedge-fund managers, etc., these currently require a high level of education and experience. No amount of training will reach the non-academically-inclined.
I think the future of people in the jobs that technology replaces is either to move to the direct service industry, which is much more difficult to automate and becomes more difficult to automate as the service level becomes higher, or abjectly falling out of the economy. Not everyone can paint or write a screenplay, and not everyone wants to.
In the days of old, they would scrub the decks of ships while under sail for no reason than to keep the crew busy to prevent boredom which was considered a cause of mutiny. Perhaps, not having a system where people are working all the time is dangerous for no other reason.
I'm a workaholic as it is the only way to maintain my sanity.
HFT means several banks are competiting for your orders very aggressively allowing a tighter spread. So, you sell a bit higher, and buy a bit lower. This is highly beneficial.
I like to think anything that adds liquidity to markets are beneficial. It prevents large swings as everything is always priced correctly at that moment.
Dead Comment
>started sharing your data with 3rd parties as an additional way to monetize.
Germany's national broadcaster Deutsche Welle produced an excellent documentary looking at the exact same scenario you described. [0]
It looked into the possibility of making short-haul transportation (focusing primarily on Hyperloop) virtually free with just one caveat: a precondition that users share all their private data that advertisers might find valuable -- free ride in exchange for ad-targetable data -- scary and intriguing at the same time.
Am I the only one who wouldn't mind a responsible way for people to target me with things I don't know about which I might be interested in?