Comment Maintaining the PSTN isn't feasible (Score 1) 305
Data-Mining Ban Struck Down By US Supreme Court 176
Comment Headline vastly overstates the opinion's impact (Score 5, Informative) 134
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Comment Re:Should we have a... (Score 1) 371
Sorry to distract you from the "But teh labour is too expensive in Amercia" rant but a $3/h repair job in China is fine when you're on US$40K a year but when you're on US$2K it's just as expensive as the "hyper inflated cost of labour in America".
Economy scales, you're paying roughly the same in the US as the Chinese are in China. Any differences can be attributed to skill shortage/abundance. For a Chinese person, Chinese labour is not cheap.
This is nonsense. Manufactured goods are not radically cheaper in China than in the US. Labor is. Think about what you're saying for a second. Manufactured goods are highly transportable. If the exact same goods sold in China for a fraction of the price they sell for in the US, how long would it take for large importers to make a fortune arbitraging that price difference until the prices balance out? In fact, Walmart has already done this. The fact that China keeps its currency devalued against the dollar only exacerbates the matter. Labor is cheap in China. Goods and services that are labor-centric and based on local market pricing are cheap (food, housing generally) compared to a Western nation. But prices for manufactured goods are pretty similar to what they'd be anywhere else. Labor is cheap in China, EVEN FOR CHINESE PEOPLE. In that sense, a Chinese company will simply throw more manpower at something that in the US we would instead deploy more machinery and technology (e.g., construction, agriculture). And people in China do repair everything because taking it to a repairman is cheaper than buying a new one.
Comment You have a bad sales model (Score 2, Insightful) 438
Comment Yes, Greenspan is a libertarian. (Score 4, Informative) 2369
Actually, yes. Greenspan is well-known to have been a lifelong libertarian. The man was a close personal friend of Ayn Rand, for gods sake. Wikipedia:
During the 1950s, Greenspan was one of the members of Ayn Rand's inner circle, the Ayn Rand Collective, who read Atlas Shrugged while it was being written. Rand nicknamed Greenspan "the undertaker" because of his penchant for dark clothing and reserved demeanor. Although Greenspan continues to advocate laissez-faire capitalism, some Objectivists find his support for a gold standard somewhat incongruous or dubious, given the Federal Reserve's role in America's fiat money system and endogenous inflation.
This is why it was shocking to many when Greenspan made the concession before Congress last week that his ideological model of how the markets worked was flawed.
Submission + - US #4 in "network readiness," #19 in bandw (arstechnica.com)
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