Well for one thing, different currencies have different rates of inflation. If one currency has 10% inflation and another has 1%, the second countries bonds at 5% will have a higher real return than the first, even if the risk of defaulting were the same, so the first country will have to offer a much higher coupon to find any buyers.
Also governments can influence demand, e.g. by mandating banks or pension funds buy their bonds, thereby pushing yields down, without changing the risk of default.
I'm asking you a question. What is an example company or industry that meets your standards of prudence? For me it would be, say, Swagelok. What is yours?
Nah. I'm definitely going to blame the people who built a trivially exploitable system and got rich off it while everyone else has to deal with the consequences.
By the way, you didn't commit theft. It's more like credit card fraud. User just disputes the charge and it kind of disappears. The banking system just absorbs it, because the optimal amount of fraud is non-zero.
It's all priced in. They could have made it secure but didn't, because they figured they'd lose more sales and therefore money due to the friction added by the security.
Yes, it absolutely does "kind of disappear". That's exactly what happens from the customer's perspective.
And that's their own deliberate choice too: they chose this instead of building an actually secure system. Passing these costs to the customer is the real victim blaming here, and it should be straight up illegal.
Sadly not enough countries enforce caps on credit card fees, but some do, and more should follow suit. They should be forced to eat the losses caused by their own choices, not get bailed out by pushing the costs on to customers or whatever.
That only works if you believe people are retarded.
Card users are well aware that fraud losses are covered by the fees they pay for using a card, whether those fees are made explicitly or not.
If customers of services aren’t paying for the service, who will? What other source of revenue do merchants have?
Australia just passed legislation that merchants aren’t allowed to charge a fee for using a card. That is: they aren’t allowed to have a line item on the receipt for using a card.
The customers still pay, because all of the merchant’s revenue comes from their customers.
So what will happen is: merchants will charge more for every product so they don’t lose.
This means even when paying with cash you will effectively pay the card surcharge.
Of the ten or so merchants I spoke with in the two weeks prior to the legislation being enacted, they all said exactly that.
Customers aren’t stupid, despite the fact that there are some stupid customers.
Meanwhile, the banks reduced their card service fees by, on average, 0.1%.
So if you tally card + cash transactions, customers are worse off because merchants can no longer charge only those customers who pay by card. Instead, they have to raise prices for everyone.
There are approximately no problems people face where the answer is: more government.
Not every system that's exploitable is the deliberate result of cut corners. If you threw enough compute at exploiting a Casio calculator you could get somewhere.
Outside of the current nonsense in Iran, we've never had to go to war to prevent nuclear arms. We've never had to go to war to ban weapons in space. These things are possible. Hard but possible
> we've never had to go to war to prevent nuclear arms. We've never had to go to war to ban weapons in space
We've mostly been blindsided by covert nuclear programmes. As for weapons in space, they don't have any purpose. The moment they make sense we'll see weapons in space.
That's why treaties sound reasonable to me. Though I'd imagine they would be more like Climate Change ones. Before Iran there were bombings to stop nuclear arms. Imagine a country getting bombed because it's detected their building a data center.
Ads seem to be working for most people or are people in protection racket where they have to pay to fend off the mobster from plastering the front of their store with roadblocks and directions to a competitor?
I have prosopagnosia. Glasses that could tell me the name of the person talking to me would be amazing. But not if I have to give big tech data about everyone around me
I have it as well. This is how i explain it to regular folks: most people have an whole neural network dedicated to processing the human face, memorizing its feutures and matching them to the people in front of them. But when they look at trees they cant really distinguish a pine tree from another pine tree, unless the differences are extreme: one is brunt down, or has a weird shaped trunk, etc. If they try to recall a specific pine tree all they can recall is a messy green spiky blob. Why? Because their brain has no neural network dedicated to identifying trees. For us, the human face is as distinguishable as a tree
Good way to describe it. Hard to relay to people what it is like walking into a crowded room and not be able to find the people you are meeting without one of them waving.
I try to explain it is a lot like the subway scenes from Pink Floyd's "The Wall". Everyone has the same distorted indistinguishable face.
Very likely I have lost a lot of "new friends" and business contacts from walking past not recognizing them.
reply