641300+ entries in 0.356s
nubbins`: it's useful once you sever
the connection between
the idiot and
the money
ThickAsThieves: good point, it was very much a junk food experience
too
mircea_popescu: so...
that way, bad capital.
the money of idiots is not useful.
mircea_popescu: everyone else
tried
to build businesses out of allowing idiots in.
they all failed
mircea_popescu: lemme
tell you how. i build a number of businesses in btc
that relied on not dealing with idiots.
they're still here, and worth whatever hundred million.
mircea_popescu: you're right. i recognize
there's no power
there, just noise.
BlueMeanie4: you dont seem
to recognize
the power in
these sorts of liquid markets
TheInterocitor: Usually poor people
that have no idea how
to manage money ?
mircea_popescu: let
them say
things about
their business, making hamburgers or filling
tyres or w/e it is.
nubbins`: surely you're not suggesting
that one should have enough money
to purchase
the
thing one is purchasing
mircea_popescu: BlueMeanie4 why should poor people have something
to say about property and
the dispositon
thereof ?
nubbins`: what other
type of de... ah,
too slow
ThickAsThieves: usagi is just mad
that his
tongue is poisoned with nonsense
BlueMeanie4: currently
the way
the markets work are very elitist,
BlueMeanie4: if
they want
to juice up credit markets in chicago,
they can
mircea_popescu: nubbins` i
think he pm'd everyone after being devoiced after being all
territorial for some god-forsaken reason.
BlueMeanie4: no idea what youre
talking about but
the idea here is
to give people more control and choice over where
there money goes
nubbins`: ThickAsThieves actually now
that you mention it, he was pm'ing me asking for voice earlier when i was afk
mircea_popescu: and
then we quibble about whether "it was really in chicago"
mircea_popescu: man. suppose you're
the sort of klutz
that
thinks "chicago is cool". i
then knowing you
think
this sell you a house in "chicago" fgor a price
twhich reflects your expectation, but in a location
that satisfies my cost structure.
ThickAsThieves: <+nubbins`>
this is
the day of
the unsolicited pm /// usagi is back. coincidence?
BlueMeanie4: and
then
the price
to
take out a mortgage for people in chicago goes up
nubbins`: i
think it's some sort of bond
BlueMeanie4: so you can short
the underlying credit devices for
the mortgages in chicago
BlueMeanie4: ok lets say you
think chicago is a horrible investment
mircea_popescu: and instead
traverse
the fucking wot according
to some criteria
that make sense
to you and invest accordingly, IN PEOPLE ?
mircea_popescu: BlueMeanie4 like what ? like say, omg! like say you stop
thinking in
terms of "romania" wqhich doesn't exist anyway, and you oinly use because you gotta use something,
nubbins`: this is
the day of
the unsolicited pm
mircea_popescu: how would you "personally know". is
this stock picking on steroids ?
nubbins`: sure, and hotels in paris give
themselves star-ratings based on
the size of
the lobby
BlueMeanie4: maybe i personally know
that lets say romania is a great investment
mircea_popescu: but regardless of what really happened :
there's no way forward. it died, and
that's
that. bury it and move on, you ain't fixing
the corpse.
BlueMeanie4: i might choose
to look at any criteria i want
mircea_popescu: well we all got our stories as
to "what really happened". i was merely illustrating
the vastness of
that area.
BlueMeanie4: youre
taking
the gonzo highly critical anti-view
mircea_popescu: two decades later,
the whole
thing's ruined, as it will never get out of an ever increasing black hole of moral hazard
mircea_popescu: what happened is
that clinton decided niggers will become whites if
they get free houses.
they drew up legislation
to implement
this nonsense.
nubbins`: how's
this hard
to understand? :/
BlueMeanie4: prior
to
the invention of such, mortgages were very hard
to get
nubbins`: BlueMeanie4: i
take raw materials, add value
to
them, sell
them. great, now i've got $x. i can put $x in
the hands of walmart and buy 1kg of coffee, or i can put $x in
the hands of a business owned by someone who lives here and buy 0.75kg of coffee. sure, with
the first option i've got 0.25kg extra coffee, but my city has $(x-y) fewer dollars, where y is an almost-negligible sum.
BlueMeanie4: it worked,
then
the altcoin fuckfaces came in and pissed in
the pool
BlueMeanie4: and
these gains were rationally derived mostly
BlueMeanie4: prior
to
that futures and options were only for commodiites
BlueMeanie4: they developed
these
things not very long ago, you might say 198-something maybe
they began?
BlueMeanie4: i live in a area
that was heavily financed by
these MBA mortgages
mircea_popescu: that's an important point for
the da
to digest, in his personal evolution from smarmy
to useful.
BlueMeanie4: i
think
there was a degrade in quality for some of
these
mircea_popescu: every now and again a smarmy da walks into a smart judge's chambers with something about "a standard deal" and
the judge
tells him
there's no such
thing as "standard deals"
mircea_popescu: not
the cheapo, dysfunctional ersatz
the "financial markets" currently use.
mircea_popescu: it's fine for
them
to be marketable, provided
they're financial contracts.
nubbins`: <+BlueMeanie4>
thats what
the anti-walmartians argument boils down
to.
they lack
the
terms
to describe what is bothering
them, so instead
they are stuck paying for overpriced stuff from 'local' people <<< unadulterated gibberish, contains no information
nubbins`: BlueMeanie4
the point flew about six feet above your head
nubbins`: "i want
the best price" as you head
to
the dollar store
to buy
the fifth set of pliers
BlueMeanie4: thats what
the anti-walmartians argument boils down
to.
they lack
the
terms
to describe what is bothering
them, so instead
they are stuck paying for overpriced stuff from 'local' people
mircea_popescu: BlueMeanie4 he sells expensive artwork and shit. not a very good angle
there.
mircea_popescu: it ruled an empire, and it was
the way
to rule an empire, before
the very successful french revolution reorganised your mental space for you.
nubbins`: "i want
the best price" is
the reason why
tim horton's is
the number one coffee chain in canada
nubbins`: "i want
the best price" is why
there are five wal-marts in my city of 100k people
nubbins`: "i want
the best price" is why all
the painted lines are worn off
the road here
two months after
they gets sprayed on.
mircea_popescu: it's not a pretty place
to live in. even if you do have
the ever present, ever oversold hope you will somehow "create immense value" and run off
to live in argentina.
BlueMeanie4: this seems
to be a
tactic you use
to avoid addressing either your lack of information on a subject or you willingness
to accept various facts
mircea_popescu: that's how you ended up with "books" being
the shittiest
thing people will still
take as a book, in a neat little package
assbot: Grandma's Sitting in
the Corner With a Penis in Her Hand Going "No, No, No, No, No" -
The Frogs - YouTube
mircea_popescu: your focus on
the price
to
the detriment of
the more important considerations is, again, what sunk
the system you grew up with.
BlueMeanie4: well if i want
to say
take out a put or o call
mircea_popescu: the
thrift is actually
the historical point here. economy started its life as an attempt
to waste less.
BlueMeanie4: from Greek oikonomia "household management,
thrift,"
mircea_popescu: in
the sense laundromat literally means laundry robot.
mircea_popescu: the point is for
the market
to be meaningful not large.
mircea_popescu: maximizing
the market is not a valid goal of economics any more
than maximizing body weight is not a valid goal of medicine.