yyy888sss
Joined 7 years ago
Karma
350
Submissions
87
Member since
May 25
Recent submissions
Comment · 6 months ago
Level 9 (or 0): Turn off the computer and go to sleep.
Comment · 2 years ago
We actually do need something like this, or at least the right to develop land.
Right now in Australia we have tyranny of the majority, because the 30% of home owners + 30% of mortgage holders have realised they can get rich if the government restricts supply (bans development) and increases demand (adjusts immigration yearly to outpace construction). For a century there seemed to be a 'social contract' that getting young people a home and helping them start families was important for the country, now though that concept seems to be totally dead.
Just creating a legal 'right' to build a house on your land would be the best fix and help a lot, but long term we really need to fix the social contract which held everything together in the first place.
Comment · 2 years ago
They should try catching up to their European neighbours first:
https://media.licdn.com/dms/image/D4D22AQFfh_jg66bW1A/feedsh...
Comment · 2 years ago
Pioneer? Nearly every home in the US already uses heat-pumps: https://ourworldindata.org/grapher/technology-adoption-by-ho...
In cold climates many people still use gas heating because its cheaper, making electricity cheaper would be the only realistic way to increase heat-pump usage in winter.
Comment · 2 years ago
Price of gold in 1989: ~2000 yen/g
Price of gold in 2024: 9,800 yen/g
Comment · 3 years ago
Inflation is a monetary phenomenon. Prices are rising in Australia because the Central Bank created $450billion out of thin air during the pandemic [1]. The bank has persistently kept interest rates low, creating a massive housing bubble [2]. For everyone saying there was 'low' inflation in the 2000s despite cheap money, remember that China and Asia were rabidly growing, flooding the world with cheap manufactured goods and lowering real prices (often 10x reduction). The inflation can still be seen when looking the price of Australian real estate, or stock markets such as Nasdaq. As for this article, companies would always like to increase prices and profit. They can only do so in unison if there is suddenly more money sloshing around.
[1] - https://www.rba.gov.au/chart-pack/central-bank-balance-sheet... [2] - https://www.rba.gov.au/publications/bulletin/2012/dec/images...
Comment · 4 years ago
Heres what happened: The Bank of England (BoE) suppressed interest rates for 2 decades, driving government bonds from 6% to 2%. Pension funds typically had a high percentage of bonds, so they decided to borrow money (again, made artificially cheap by the BoE) to buy 2-3x the amount of bonds on leverage to be able to pay out the same as one 6% bond. Now the BoE is slowly raising rates to 'fight' the inflation it created over the past 20 years, which is causing these house of cards pension funds to start to tremble. The fund directors are relaxed though as have already paid themselves large bonuses every year, and after 2008 they realised they could rely on the government to come in and socialise the loses stemming from their financial recklessness.
Comment · 4 years ago
It could of course be the AvroCar [1]. Although in this case they are referring to 'UFOs', there have been multiple experimental aircraft that look exactly like flying saucers.
[1] - https://en.wikipedia.org/wiki/Avro_Canada_VZ-9_Avrocar
Comment · 4 years ago
Youtube premium is the best value video subscription there is and its a win-win: You can a clean ad-free experience and both Youtube and the video creator get more revenue.
Comment · 4 years ago
Modern desalination plants produce at less than $1 per cubic meter, thats $0.001 per litre...
Comment · 4 years ago
Yep, innovation means prices understate the true level of inflation. Eg: If technology reduces costs by 5% and the CPI measures 2%, then the real rate of inflation is at least 7%.
Comment · 4 years ago
Defining inflation as rising prices is the newer, MORE narrow definition as measurements such as CPI are capturing the downstream effects of a fundamental cause (creating money).