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August27th

@ August27th @lemmy.ca

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2 yr. ago

  • Nearly a third of Canadians believe U.S. may try to invade Canada: poll

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  • IMO Canadians should examine the war in Ukraine to get an idea about how to prepare, but keep in mind Russia's relative military ineptitude.

  • US billionaire wealth surges to $8.1 trillion as affordability crisis hammers working class

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  • The way accounting works, if the money is going on to their books, it had to come off of someone else's. So the rest of us are not the same, you are correct, we are actually poorer, collectively.

    Billionaires' accumulation of wealth is basically self perpetuating once they get to the point of being a billionaire. They can't possibly spend it all, so they invest anything left over, which gains more profits, which they invest again and so on.

    They eventually run out of regular investments to invest in (see stocks just going up and up), so they move into investing in things like housing, which is why that bubble refuses to burst. Meanwhile, you can't afford to buy your own house because of the astronomical cost, and you're left renting your housing from the billionaire class who effectively own it, creating more profit for them. Even if you buy a home, you likely have a mortgage, with that money having been lent by... investors (see above), creating more profit for them.

    Unfortunately, every dollar lent for anything requires an interest payment, which, if you know how that works (see "fractional reserve banking" to get an idea), forces money to be printed in order for there to be enough money supply to keep the whole system working. Printing money causes inflation, which lowers the buying power of any money you do have.

    For regular people, that means we're collectively poorer.

    For billionaires, they'd never notice the inflation, both because they already have more money than they could ever spend, and the growth is self perpetuating because they have no other way to spend it.

    If you follow that out, obviously they'll end up owning absolutely everything.

    But people have to eat, so one day, shit is going to hit the fan. The longer taxing billionaires heavily is delayed, the larger that shit storm is going to be. The people who are right now living in shantytowns, in their cars or RVs, are the tip of the iceberg.

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    This doesn't even touch on things like shrinkflation (which is just another part of general inflation).

    Some people might say "oh, fractional reserve banking is dead", but what they don't say is that the reserve part is dead, meaning the engine is now fully pinned instead of just red-lining.

  • My Life Is a Lie: How a Broken Benchmark Broke America

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  • Like some people said on HN, the premise of this is based on a misunderstanding of how the poverty line is calculated.

    Look, just because some people on HN turned their brain off, it doesn't mean you have to listen to them. It's clear if they said this, they read a tenth of the article at most and then jumped to conclusions. The misunderstanding is theirs, and now yours unless you read and grok the whole article.

    They don't take each year's grocery expenses and multiply by 3.

    Indeed they do not.

    Instead they take the same 1963 figure and adjust it each year for inflation generally.

    Okay. But what underpins the 1963 figure? That's his whole point. The figure effectively looked at one variable and assumes that several related others remain static for 60 years.

    This means if [it] was an accurate estimate then and the inflation calculation is correct, then it should remain roughly accurate

    If it were instead adjusted for inflation since 1910, and the poverty line was based on horse maintenance expenses x3, because it made sense at the time, and it was an accurate estimate then, would this have remained roughly accurate to today? Neigh way José.

    The benchmark is not keeping up with modern expenses, nor does it factor in changes to known 1963 variables that the benchmark still presumes are static, effectively pegged at 1963 values.

    Just read the whole article. Your future depends on it.

  • [ExtraFabulous] Cooking Time

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  • Stop bragging 😂

  • Could the internet go offline? Inside the fragile system holding the modern world together

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  • When things get dire, the fast and high bandwidth Internet we know will be gone, but a form of slow, intermittent Internet will probably be around; still technically an Internet.

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  • The E stood for Elimination.

  • 'This is definitely my last TwitchCon': High-profile streamer Emiru was assaulted at the event, even as streamers have been sounding the alarm about stalkers and harassment

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  • Even more fitting, really.

  • Tesla reintroduces 'Mad Max' Full Self-Driving mode that breaks speed limits

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  • Part of me wonders if they sell your driving telemetry to your insurance company, and if those companies pay out more for data on worse offenders. If so, they're just letting you tie your own increased insurance rate noose by providing that option, for their own financial gain.

  • 'This is definitely my last TwitchCon': High-profile streamer Emiru was assaulted at the event, even as streamers have been sounding the alarm about stalkers and harassment

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  • On brand for an Amazon property.

  • TikTok’s algorithm will be overseen by Oracle in the US after the sale is completed

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  • And the back button will break the entire app.

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  • Oh, so that's why Google is killing sideloading.

  • AI adoption rate is declining among large companies — US Census Bureau claims fewer businesses are using AI tools

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  • Then again, I could have accomplished the same thing by knocking off work for the day and going to the driving range.

    Hey, look at the bright side, as long as you were chained to your desk instead, that's all that matters.

  • Honda Is Giving Up on the All-Electric Dream

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  • Ha!

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    cut-throat market

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  • novibe nailed it elsewhere in this thread, but nobody's explained the mechanism.

    https://youtu.be/0quhLtBXijM?t=4m30s

    Within 90 seconds the mechanism is explained, within 5 minutes you understand the money flow, within 15 minutes this meme is covered, and within 20 minutes there's a suggested solution.

  • ChatGPT use linked to cognitive decline: MIT research

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  • Or people with brainrot succumb to ChatGPT easily. Or maybe one then the other...

  • There we are...

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  • Guess that could be an indicator of which caused which.

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  • uninformed for skeptical

    Perhaps one begets the other.

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  • The article is not fishy, you are just uninformed. They are powering the datacenter with turbines fueled by natural gas. You are right about the datacenter though, it's beyond fishy, into crime territory. To top it all off, they have approval to run only a handful of turbines (after not even seeking approval in the first place, i.e. running them illegally), but they are running a ton of them.

  • Americans are losing spending power, say researchers: Most can no longer afford a 'minimal quality of life'

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