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Comment Re:First SK Communications now KT Corp (Score 1) 43

I would imagine those users already had their personal details stolen back in July 2011 when 35 million people (practically the entire population of South Korea) had their details hacked from another telecommunications provider - SK Communications. Is this a systemic issue in South Korea?

With the South Koreans' over-reliance on Windows, yes. Added to that software monoculture are some terrible security practices. These practices are widespread in the Korean IT industry, and I'm sure would make any competent sysadmin run screaming to the hills. Part of that is there is still the old guard in play there, and due to South Korea's slow adaptation of challenging upper management due to cultural values, this problem will likely remain in place for some time still.

Comment Re:Jobs (Score 1) 647

When Amazon uses predatory pricing to move local retailers out of the market, they have then gained what is considered an "established advantage". There is little reason for anyone else to enter the market because they stand no chance of beating the price of Amazon. Sure, the odd boutique seller might be able to capture some niche for Veblen goods, but that's not Amazon's competition, and those are niche markets, hardly able to replace retail employees now.
Your post contends that nearly everyone in the US has a degree. This is clearly inaccurate, as the census link shows. Even if we include Associate degrees, the number is 39%, which is still a far cry from nearly everyone. Not everyone in the workforce can do skilled labour/office work - even if you discount those "pesky immigrants" (as an anecdotal aside, I have worked with several Mexicans who are doing manual labour even having completed some degree of college or obtaining university degrees). As Amazon increases the automation in their supply chain (picking/packing/shelving/crating/shipping) the number of unskilled jobs decreases, with few options for those previously employed in those sectors. When that 60% start to find it increasingly difficult to find work that's able to sustain them and their families, you can likely expect increased social tension, further polarization of the classes, and while the GDP of America might grow in the short run, in the long term, the few are gaining at the expense of the many, who will have to further reduce their expenditure (consumption), and without the all important "C" variable in CIGNx, the economy is fucked.

Comment Re:Jobs (Score 1) 647

Eh? You say that, yet nearly everyone in the US has a degree. 90% of the people coming into the workforce are perfectly qualified for skilled labor or office work of some type.

Suddenly all your posts makes sense. You are clearly out of touch with reality. Latest census information shows that 30% of people 25 and older have a bachelor's degree or higher.
Additionally the fiction you spin about competition being able to move in once Amazon establishes a monopoly is cute.

Comment Re:Tail wags dog (Score 1) 311

Not really - there are many arguments for applications of tariffs, but the best one in this case would be the "terms of trade argument" for a tariff. The US is a large economy, which means it can set tariffs that affect world price. Now, we know that tariffs do distort production and consumption, creating social costs. However, for a sufficiently small tariff, the gains from improved terms of trade can outweigh the efficiency loss. The key is to find the optimum tariff rate.

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