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Comment Keep the law confined to justice (Score 1) 694

"Here I encounter the most popular fallacy of our times. It is not considered sufficient that the law should be just; it must be philanthropic. Nor is it sufficient that the law should guarantee to every citizen the free and inoffensive use of his faculties for physical, intellectual, and moral self-improvement. Instead, it is demanded that the law should directly extend welfare, education, and morality throughout the nation." Frederic Bastiat

Here is my recommendation. If you want a party of Justice focus on making the law just and avoid making it philanthropic. You'll never have both.

Ian

Comment Re:Familiarity (Score 1) 943

Note the GAO says it will save the GOVERNMENT billions of dollars. Ask yourself.. how is that possible?

Here is how it is possible. The GAO is projecting that the dollar coins will be stored in jars -- exactly because they are undesirable.

So here is how it makes the government money. Treasury creates coin. The treasury deposits coin with federal reserve effectively buying coin for $1 (treasury makes 98 cent profit or so), Coin is distributed to a bank, a bank gives a business, business gives it to a customer.. customer throws it in a jar for several years. Tada. The US government just made a dollar, hey, hey.

Comment Re:I remember when... (Score 1) 142

The cost of things goes down all the time. Look no further than the computer you are typing on.

If you adjust for inflation, you have to work to find examples of things that have increased in price.

If the cost goes down, supply at the previous price goes up (increase profits!). The increase in supply will cause the supply and demand curves to shift, and then you have a lower price.

Of course, this never works for insurance because humans are programmed for risk. So if you make the car safer, you make the human more risky -- risk homeostasis.

Comment Re:HFT for dummies (Score 2) 377

So here is the argument I've heard against HFTs: in most circumstances the buyer and seller would have found each and exchanged peer-to-peer less than a second later if the HFT didn't see the order and intercept it first.

This seems to be backed up by the fact they seem to purchase special data feeds from the market that gives them an earlier peek at the data than everyone else. When an HFT works between different exchanges to execute a trade, I can't see why anyone would see a downside.

Is there some value-add step I am missing there?

Comment Re:Stupid, stupid, *stupid* (Score 1) 247

If you ever want a phone call, strip telephone wire with your teeth. Someone will call, %100 guaranteed, and it will hurt. And whoever is in charge of making sure phone calls arrive when you strip wire with your teeth, does laugh. I swear the phone company has a "tooth" detection circuit and a list of friends to have call you when tooth contact is detected.

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