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The Economy

Discussion in 'Sports and News' started by TigerVols, May 14, 2020.

Page 51 of 462
  1. swingline

    swingline Well-Known Member

    Are you sure we're not married to the same woman?
     
    swingline, Nov 6, 2021
    #601
    OscarMadison, sgreenwell and Hermes like this.
  2. Hermes

    Hermes Well-Known Member

    We might be automating ourselves into a higher unemployment rate. I’ve always thought those screening questions for low-level retail jobs were pretty counterproductive.

    Complicating the job search for the long-term unemployed is the explosion of companies using robots to sort through job applicants, at least in the first round. This highly automated process excludes anyone who is not a near perfect fit on paper for a job. Nearly half of employers say they quickly reject candidates who haven’t worked in more than six months, according to a recent Harvard Business School study.

    https://www.washingtonpost.com/business/2021/11/08/job-search-not-getting-hired/
     
    Hermes, Nov 10, 2021
    #602
    OscarMadison likes this.
  3. sgreenwell

    sgreenwell Well-Known Member

    I am in the same boat as you. I had to get earbuds because even the sound of a podcast enrages my wife, like nails on a chalkboard. The only one she will kind of tolerate is Conan.
     
    sgreenwell, Nov 10, 2021
    #603
    OscarMadison and Hermes like this.
  4. qtlaw

    qtlaw Well-Known Member

    I know it’s been discussed earlier but pardon my laziness; in what way is cryptocurrency any different than a Monet or Rembrandt or Jordan ‘85 rookie card?
     
    qtlaw, Nov 10, 2021
    #604
  5. Songbird

    Songbird Well-Known Member

    You can buy things with (most) crypto at places that accept crypto as payment. You can't pay for $575 in groceries by giving the cashier an '85 Jordan rookie card.
     
    Songbird, Nov 10, 2021
    #605
  6. The Big Ragu

    The Big Ragu Moderator Staff Member

    I am not sure what ways had in mind in asking that question. But you can argue that a cryptocurrency has no intrinsic value. Nobody owns a bitcoin because of their love of having a collection of binary data. Honestly, the only reason anyone owns crypotocurrencies right now is as a speculative vehicle. The vast majority of people who are buying, are hoping to buy it and then sell it to someone else for more money than they paid for it. You are watching the greater fool theory in action.

    In the case of the Monet or Rembrandt or Jordan '85 rookie card, markets for those things may be in the throes of speculation right now too (another discussion), but they actually have intrinsic value in and of themselves. There are people who want to own a Monet just for the pure joy of displaying it on their wall and being able to look at it.

    As far as crypto being a payment vehicle, it really fails, which is why there has not been wide spead adoption of it for payments. The biggest thing is that the value of any cryptocurrency has not been stable enough for people to transact that way. People don't want to accept (or pay with) some exchange medium for which the value may decline (or appreciate) precipitously within minutes after the transaction. On top of it, it takes several minutes for a crypto transaction to be validated and a single transaction comes with really high fees. Nobody is going to buy a pizza with something that requires $20 in fees.
     
    Last edited: Nov 10, 2021
    The Big Ragu, Nov 10, 2021
    #606
  7. BTExpress

    BTExpress Well-Known Member

    Grounds for divorce.
     
    BTExpress, Nov 10, 2021
    #607
    Baron Scicluna, TigerVols and Hermes like this.
  8. TigerVols

    TigerVols Well-Known Member

    I know this sounds like a flippant response, by crypto actually does make sense as a payment mechanism in the metaverse, which is exactly why Ethereum is taking off.
     
    TigerVols, Nov 10, 2021
    #608
  9. Hermes

    Hermes Well-Known Member

    I assumed it was all driven by money laundering.
     
    Hermes, Nov 11, 2021
    #609
    OscarMadison likes this.
  10. The Big Ragu

    The Big Ragu Moderator Staff Member

    Who exactly is paying for anything with ethereum? Theoretically, because an ethereum transaction gets done more quickly than a bitcoin transaction, it would make more sense as a payment mechanism than bitcoin. But nobody is actually using ethereum to pay for anything. It gets talked about. Every few weeks you get someone randomly saying, "Yeah, we'll accept it as payment." But where are the actual payments? Nobody wants to be the guy who bought 2 pizzas in 2010 with their bitcoin only to see it appreciate a ton in value. Right now (not in some unknown future), Ethereum is taking off (I assume you mean in price) because there is a speculative frenzy in anything that has a story attached to it. The actual story doesn't even matter much. This is really about a huge amount of fresh liquidity that has been injected into the world and has created a gambler's environment.
     
    Last edited: Nov 11, 2021
    The Big Ragu, Nov 11, 2021
    #610
    2muchcoffeeman likes this.
  11. Sam Mills 51

    Sam Mills 51 Well-Known Member

    Well done, especially if the maintenance was done when it should have been prior to your purchasing it. Tough little machines ... guess we'll see if it lasts as long as BTE's Lexus.

    Swapped out one Toyota for another. Might give you another 31 years. A lot more older Toyotas still on the road than people might think. There's a good reason for that.
     
    Sam Mills 51, Nov 11, 2021
    #611
    OscarMadison likes this.
  12. Michael_ Gee

    Michael_ Gee Well-Known Member

    1. I gave my 2003 Corolla to one of my nieces as a high school graduation present 3 years ago. It had 185K on it then. Still going, although of course the covid year has kept subsequent mileage way down.
    2. Here in France, gas is currently running at roughly $8 a gallon. Also, there are significant shortages of labor in the food service industry all over Europe. It's not just us. The restart of the economy after the covid disruptions are causing the same issues everywhere.
     
    Michael_ Gee, Nov 11, 2021
    #612
    sgreenwell, OscarMadison and TigerVols like this.
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