Cost of living adjustments for everything including savings?

Ai: "According to Fischer and Modigliani (1978), a fully indexed economy is an idealized system where all financial contracts, tax systems, and accounting procedures automatically adjust for inflation, neutralizing its real economic effects. This framework assumes nominal institutions, such as tax systems and debt contracts, are replaced with real-terms adjustments that keep real interest rates constant. Read the full NBER paper at nber.org."

Unless this is really about fidelity to economics and not software, can you imagine the pure engineering productivity unleashed if engineers had a decent guaranteed inflation-proofed basic income and didn't have to listen to bosses telling them to artificially restrict access and features due to advertiser pressure?

Or you could just have a NFC-like chip inserted into the animal's neck which can be cheaply scanned by rescues/vets and have owners contact details looked up (as we do in the UK: it is a legal requirement to have all dogs and now cats 'microchipped').

Then why did Modigliani and Fisher say in their 1978 paper "Towards an understanding of the real costs of inflation": "The traditional view that because money is neutral, inflation produces no appreciable real effects is shown to hold approximately only for an economy whose institutions are fully inflation proof, e.g. a fully indexed one.", and why can't we fully index the economy?

Why did Israel use full indexation for decades while increasing their standard of living? What if the decision in the 1980s to use price controls instead of indexation was an arbitrary mood; why couldn't they have kept indexation going forever (they still use it today in fact)?

If your income goes up immediately with prices, why would you care about nominal inflation, because even if gas went to $10/gallon your income increase would allow you to buy the same amount you always did without losing any money?

Since the US currency has lost some 90+% of its value since the country's founding, yet the US is the world's premier superpower, hasn't indexation been used implicitly to keep real purchasing power rising even as nominal inflation has risen?

Do you just have a mood affiliation against indexation and no sound argument?

Does this tech eliminate the key objection to printing basic income money faster than prices rise, that "menu costs" become negligible?

If you get a printed basic income and stores raise prices costlessly and your income goes up in lockstep, why can't you forget about nominal inflation and convert nominal prices to units of real purchasing power, which won't change under an indexation scheme, no matter how fast nominal prices may rise?

Did Norris kill himself?

"Google reduced our headline "I used the 'cheat on everything' AI tool and it didn't help me cheat on anything" to just five words: "'Cheat on everything' AI tool." It almost sounds like we're endorsing a product we do not recommend at all."

Does the dude feel cheated by AI?

Here in British Columbia we just changed our clocks for the last time and will remain on UTC-7 indefinitely. Parts of B.C. (the northeast part) have been UTC-7 all year for a long time. The southeast part has been Mountain time (UTC-7/UTC-6) for a long time. Neither are changing how they do time.

I applaud losing the time change but I'm not crazy about permanent DST. People obviously haven't thought this through, what it's going to feel like come November.

...laura

Near-lifelong B.C. resident here...

People have grumbled about time changes as long as I can remember. Pick one. Stick to it. Just do it.

I can't say I agree with their choice. Not so much the crazy late sunset in the summer - we're used to that - but the very late sunrise in the winter. The sun will still set by 5 in December and January. So what?

...laura

"Please" and "thank you" are relics of a bygone age to most people.

The one that pisses me off is the habit of customer service people addressing men respectfully ("sir"), but not addressing women with respect ("ma'am" or equivalent). This isn't an issue in places like Texas, but it's very much an issue here in Canada.

...laura

Is physics just hubris, thinking you can explain things that are actually stranger than you are capable of imagining?

Was I the only one who stopped using ChatGPT when it stopped flattering me because some fuddyduddies thought that was dangerous?

"that google paper's "breakthrough" wasn't so much the tech (neural nets) but the precise adaptation of it that made it highly parallelizable."

Do you reallly need neural nets to get attention weights?

Why shouldn't the Fed print money to stave off a balance sheet recession?

What if Greenspan deliberately popped dotcom because he was old, grumpy, and deathly afraid of irrational exuberance, but Trump is stopping the Fed from making the same mistake again?