Currently reading: How to do Nothing: Resisting the attention economy by Jenny Odell, ISBN: 9781612197494
I observed a year ago that post-crisis bank regulation amounted to the Fed admitting that it was a failure, with banks treating reserves like pre-1913 banks treated gold. So I’m pleased to see that at least some Fed officials understand that this is a problem.
it is worth remembering that a principal reason for the Federal Reserve’s creation was to facilitate the movement of reserves when needed from banks with an excess reserve position to those in need of reserves
Struck by Brett Scott’s great line in “The war on cash“:
It’s not a “cashless society” – but a “bankful society,”
I went to follow @Suitpossum, only to find I already do.
The one good thing about this is that it presents a space where alternatives to Google can compete.
The most discouraging aspect is how Google now doesn’t even bother to return results about vast swaths of the internet. —Bit Rot and Search Engines | Bierfaristo Blog
If you refinanced your mortgage 8 or 10 years ago there’s probably no reason to do it again. (Maybe your mortgage is almost paid off!) But mortgage rates are setting new generational lows and if you have any substantial balance left it might be worth refinancing.
I can kinda understand the 0.1% (with secure bunkers on high ground) talking down climate change. But what’s up with ordinary people living near a coast? How are they not demanding urgent action?
Interesting to me that the Great Recession doesn’t even show up as a blip on this graph.
With no card number, CVV security code, expiration date or signature on the card, Apple Card is more secure than any other physical credit card.
While @jackieLbrewer was working at the bakery there was a cash register glitch. For several days they took credit card payments on paper, writing the number down by hand, and then entering them manually at the end of the day.
Those customers would have been totally secure from being able to buy bread.
Very interesting and right up my alley: “fully automated luxury communism isn’t just science fiction: it’s a going concern with real evidence on the ground.” Via BoingBoing. h/t @limako
Blame the bosses, not the robots, when your job gets automated away. ‘Robots’ Are Not ‘Coming for Your Job’—Management Is