IMO the value of AI coding is less about what we're seeing now and more about what will happen once anyone can program their phone, watch or smart speaker just by feeding it a prompt.
They’re backed by treasuries and subject to treasury market shocks (like the March 2020’s dash for cash). Large redemptions can see a feedback loop of redemption -> rushed selling -> treasury market stress -> redemption. Exactly the sort of scenario one might expect as the secular trend of the weakening dollar bubbles to the market’s surface.
Surprised to see so many people who dislike the article. The important background hum to this piece is that she's dating men in a place where the male-female ratio is in her favor. It's also a pressure cooker environment where the men often judge themselves against some of the richest people in human history.
So on one hand she gets to be more picky; on the other, there is a larger share of men likely to have status anxiety.
I think that, broadly speaking, hard work and talent strongly predict success. But the circumstances can dramatically affect the magnitude. I have no doubt that Zuck would've been successful in 1880, but not one of the richest people who ever lived. The leverage that comes from being an introverted hacker type was not as great then.
Trump has had a bizarre fixation on trade deficits since the eighties. Back then he blamed Japan. Now it's China. It's his one and only ideological commitment.
Obama didn't endorse ZIRP. He wanted to do more stimulus but Congress wouldn't let him.
In that environment ZIRP was the only solution. Ben Bernanke (a Bush appointee, re-appointed by Obama) devoted his academic career to how the Fed could have prevented the Great Recession. He was right.
reply