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If I didn't need healthcare I wouldn't worry. COBRA will drain my emergency fund twice as fast as if I didn't need it. Moreover, I grew up poor. I will not go back. I've come too far to let some silver spoon patagonia…
That's because it is a charade. The fed's entire job is basically a dependency injection in an otherwise free market. Money creation in a modern economy is literal magic and while they may claim it's tied to "metrics"…
The problem is they aren't wiped out enough. Bankers who instigated the GFC got jobs elsewhere. One of them was even the CEO of SVB! Breach of fiduciary duty in any other context is essentially a death sentence for a…
The better question of course is who pays for this? They're quiet about it because it's not the banks. The banks paying it is only a technicality. This additional premium they will inevitably have to pay will come from…
I dont know if I agree with your assessment. > Equity is getting zeroed out. Management was fired. Depositors were made whole almost immediately. SVB's assets are apparently not impaired; SVB would have held them to…
It's not a theory nor is it a conspiracy insofar as it is lacking evidence. The collapse during the great depression was used to sell the fallibility of the small banks. Senator Aldrich took the bill written by the…
If you paid attention the last week or so there have been a lot of accounts here promoting the fed bank as a solution. You are correct and I agree with your assessment for what it's worth. Dozens of banks collapsing has…
There's not much you can do to "decompress" when you go to work, sentence dogs to death, and then go home to your family pet and look at them thinking they could've been one of those dogs. I've met meat packers who…
The odd, perhaps not entirely coincidental, relationship between ivy league pedigree and job at FAANG. While there's a correlation between talent and ivy league the relationship is often tenuous. In my experience the…
The fact my company turns down over 80 applications a week and only 1/5 of the accepted applicants make it through the first interview tells me you're wrong. It's only an easy meal ticket if you're deluded. Highly…
This has been my experience as a data engineer. ML guys build the fun stuff, go to conferences, etc. We maintain their stuff and work the 60 hour weeks answering pages. It's mind numbing. Arguably some of the most…
I've lived in a LCOL my entire life and really made actual development money by going remote. I've done it for so long and the wage disparity is so great I will likely have to leave the industry if remote dries up.…
"Libertarian" is a sliding scale from basically anarcho-capitalism to traditional Republicanism. While it has been humorous to see these faux-libertarians say in one breath they want small government, but in the very…
> Keep in mind that bank shareholders and senior management are going to get wiped out and fired. And do the same thing again. Wasn't the CEO ex-Lehman?
Not a great analogy IMO. This is akin to seeing a terrible movie, announcing to the markets you're selling every share you own of the company, and then everyone doing the same. Victim blaming isn't useful here. Bank…
Interestingly the list of some of the richest people capable of destroying such an institution would likely be highly correlated with the banks that can handle it. As it turns out the Fed's existence is due to such rich…
I don't think any coverage should go over FDIC. We can't let the taxpayer cover such mistakes. Even though they have "explicitly" said that the taxpayer won't you simply have to follow the money to figure it's the case.…
This is the actual story. Rich VCs want their losses socialized. Vulture capitalists never change.
You've missed the point of BMI. It's a population metric. The application of it to the individual really only works in the edges (too skinny, too fat) where it becomes obvious. I've never seen a BMI confidence interval…
Really? That seems bold. They quite literally changed the definition of a recession. Just because it's not a historically accurate recession does not mean we are not in, nor that are not heading into, one. ZIRP is dead,…
> it was impossible to right-size the stimulus This is wrong. DETR, the Nevada Unemployment Office, gave out 1.4B too much [0]. I am absolutely sure this is not an isolated case. The absolute level of corruption…
Sabbath is more like a special case of this. The purpose of Sabbath was a built-in day of rest for people working essentially. The impetus was of course to use that time for religious reflection. However, at least in…
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If I didn't need healthcare I wouldn't worry. COBRA will drain my emergency fund twice as fast as if I didn't need it. Moreover, I grew up poor. I will not go back. I've come too far to let some silver spoon patagonia…
That's because it is a charade. The fed's entire job is basically a dependency injection in an otherwise free market. Money creation in a modern economy is literal magic and while they may claim it's tied to "metrics"…
The problem is they aren't wiped out enough. Bankers who instigated the GFC got jobs elsewhere. One of them was even the CEO of SVB! Breach of fiduciary duty in any other context is essentially a death sentence for a…
The better question of course is who pays for this? They're quiet about it because it's not the banks. The banks paying it is only a technicality. This additional premium they will inevitably have to pay will come from…
I dont know if I agree with your assessment. > Equity is getting zeroed out. Management was fired. Depositors were made whole almost immediately. SVB's assets are apparently not impaired; SVB would have held them to…
It's not a theory nor is it a conspiracy insofar as it is lacking evidence. The collapse during the great depression was used to sell the fallibility of the small banks. Senator Aldrich took the bill written by the…
If you paid attention the last week or so there have been a lot of accounts here promoting the fed bank as a solution. You are correct and I agree with your assessment for what it's worth. Dozens of banks collapsing has…
There's not much you can do to "decompress" when you go to work, sentence dogs to death, and then go home to your family pet and look at them thinking they could've been one of those dogs. I've met meat packers who…
The odd, perhaps not entirely coincidental, relationship between ivy league pedigree and job at FAANG. While there's a correlation between talent and ivy league the relationship is often tenuous. In my experience the…
The fact my company turns down over 80 applications a week and only 1/5 of the accepted applicants make it through the first interview tells me you're wrong. It's only an easy meal ticket if you're deluded. Highly…
This has been my experience as a data engineer. ML guys build the fun stuff, go to conferences, etc. We maintain their stuff and work the 60 hour weeks answering pages. It's mind numbing. Arguably some of the most…
I've lived in a LCOL my entire life and really made actual development money by going remote. I've done it for so long and the wage disparity is so great I will likely have to leave the industry if remote dries up.…
"Libertarian" is a sliding scale from basically anarcho-capitalism to traditional Republicanism. While it has been humorous to see these faux-libertarians say in one breath they want small government, but in the very…
> Keep in mind that bank shareholders and senior management are going to get wiped out and fired. And do the same thing again. Wasn't the CEO ex-Lehman?
Not a great analogy IMO. This is akin to seeing a terrible movie, announcing to the markets you're selling every share you own of the company, and then everyone doing the same. Victim blaming isn't useful here. Bank…
Interestingly the list of some of the richest people capable of destroying such an institution would likely be highly correlated with the banks that can handle it. As it turns out the Fed's existence is due to such rich…
I don't think any coverage should go over FDIC. We can't let the taxpayer cover such mistakes. Even though they have "explicitly" said that the taxpayer won't you simply have to follow the money to figure it's the case.…
This is the actual story. Rich VCs want their losses socialized. Vulture capitalists never change.
You've missed the point of BMI. It's a population metric. The application of it to the individual really only works in the edges (too skinny, too fat) where it becomes obvious. I've never seen a BMI confidence interval…
Really? That seems bold. They quite literally changed the definition of a recession. Just because it's not a historically accurate recession does not mean we are not in, nor that are not heading into, one. ZIRP is dead,…
> it was impossible to right-size the stimulus This is wrong. DETR, the Nevada Unemployment Office, gave out 1.4B too much [0]. I am absolutely sure this is not an isolated case. The absolute level of corruption…
Sabbath is more like a special case of this. The purpose of Sabbath was a built-in day of rest for people working essentially. The impetus was of course to use that time for religious reflection. However, at least in…