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Joined 2 years ago
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Cake day: July 27th, 2023

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  • I wonder at what point Powell decides he should raise rates. Trump has already been publicly stating he wants them lowered faster and how he also wants to fire Powell but it’s not clear if he will be (legally) able to.

    Last I saw there was a court case making it’s way up the courts to overturn a legal precedent regarding the executives power to oust members of independent boards so it’s technically possible he will be able to legally oust Powell and install a lackey if the supreme court decides to throw out existing precedent. I think you’re right and both global markets and the dollar will reel if that happens. The fed is supposed to be independent and that obviously is not the case if Trump can fire anyone who doesn’t do whatever he asks.

    The supreme court seemed to grow a spine on the Kilmar case so maybe they’ll continue to have one when this case makes its way up.


















  • I don’t think social media is inherently evil, but profit motive creeps into people’s private lives and fundamentally corrupts the natural premise of social connection.

    Social media is huge money, all through advertising. Advertising will use anything it can to manipulate an audience’s behavior, that’s what it exists for in terms of research and how organizations decide what ads to run and where: net engagement and sales figures. Whether to sell you a product or a political idea, it is most effective when you don’t realize you’re being advertised to. This encourages ad firms and political campaigns to manipulate user psychology to get the most meaningful results they can. I think the depth of insight all the data collection tech companies do opens a window to manipulate people in ways we haven’t really come to terms with as a society.

    And while the fediverse is probably more resistant to advertising than a centrally controlled system, there is nothing stopping well crafted astroturfing in this space. Political astroturfing in particular doesn’t generally look like what someone expects an ad to look like because of its ubiquitous nature and its natural network effects.