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Silicon Valley Billionaire Takes Out $201 Million Life Insurance Policy

wolfemi1 Re:We need to stop big tax dodgers useing loop hol (300 comments)

That income has been taxed already. Bequeathment is not a fucking INCOME issue.

Of course it is; "income" doesn't get taxed, TRANSFERS get taxed. For income tax, it's the transfer from your employer to you. For inheritance tax, it's the transfer from the estate to you.

about 4 months ago

White House: Get ACA Insurance Coverage, Launch Start-Ups

wolfemi1 Re: I went back to corporate America because Obama (578 comments)

Yes. Cross-subsidization (also known as "socialism") has resulted in most people I have spoken to paying 40% to 60% more on their premiums, with a higher deductible.

That's not what socialism is, that's insurance.

It has also resulted in fewer young people with insurance, because their premiums went way up. It's DUMB to raise rates on the demographic that (A) is essential to funding the program, and (B) needs it the least.

Are you entirely forgetting about the mandate? Where do you get that fewer young people have insurance? That, like the other anecdotes about huge cost increases, sounds entirely made up.

about 4 months ago

White House: Get ACA Insurance Coverage, Launch Start-Ups

wolfemi1 Re:I went back to corporate America because Obamac (578 comments)

A few hundred? Try $800/month which is the cheapest plan the ACA offers where I live. And that plan was total garbage, didn't cover half of what you'd expect and had huge co-pays.

I've heard this so many times, and seen it debunked so many times, that it's just ridiculous. Sorry, but unsupported anecdotal data isn't really convincing, especially since so many people have been wrong about it.

The problem with ACA is that it MANDATED HMO's... Not health insurance.

I don't know what odd definition of "HMO" you're using (I suspect you're using it simply because HMOs are unpopular), but that's just not true.

If I tried to get the plan I have with my employer through the ACA exchange it would be over $1600/month. That's insane! And yes, I actually looked it up.

Again with the anecdotes. Also, I notice you didn't say anything about which plan it was, or how much your employer was paying.

about 4 months ago

Star Trek Economics

wolfemi1 Re:Based on what? (888 comments)

Yeah...ask the Soviets or Cuba how that worked. (Or Venezuela if you need a more recent example.) Hell,. just ask Europe how that's going. (Looking at you, France.)

The Soviets and Cuba do/did not use European socialist capitalism. Europe is currently suffering from a terrible policy of having a currency union without a fiscal union, which is the proximate cause of their problems.

about 5 months ago

Star Trek Economics

wolfemi1 Re:Wow (888 comments)

Nature does not pollute itself.

WTF? I mean seriously WTF?

Have you ever seen a volcano? Nature - polluting.

Check out the Great Oxygenation Event for even a better example; cyanobacteria produced so much pollution (in the form of free oxygen) that they killed off most other life on the planet.

about 5 months ago

On the Practicalities of Counterfeit-Proof Physical Bitcoins

wolfemi1 Re:Why do dictactorships have hyperinflation? (121 comments)

Let's say X is a constant, and is always equal to 5. It is not logically (or physically) possible to say "From now on, Y will be equal to X. But we're going to change the value of Y as we see fit.

I think there's an error, in that you're not using a consistent definition of "value". You can offer an official EXCHANGE RATE of, say, dollars to Argentine Pesos (and that's not really a random example), and then inflate a currency. In the long term, this doesn't really WORK, since everyone who can will just buy dollars with pesos and bankrupt your exchange office because there's no equivalent trade back to pesos, but it's not tautological.

about 5 months ago

Elon Musk, Tesla CTO Talk Model X Details, Model S Upgrades

wolfemi1 Re:Model X is the Wrong Model (155 comments)

Tesla should have concentrated on producing a credible hatchback, Volkswagen Golf competitor they could sell worldwide. If they could get a section of that market then things would change very rapidly.

Just like Nissan has with the Leaf? Or Mitsubishi with the i-Miev? Or Honda with the Fit Electric? Chevy Spark? Focus Electric?

There's a whole lot of competition in that market; I don't think it'd be unfair to credit Tesla's relative success with the fact that they DIDN'T try to do that.

about 5 months ago

On the Practicalities of Counterfeit-Proof Physical Bitcoins

wolfemi1 Re:Why do dictactorships have hyperinflation? (121 comments)

HEALTHY markets are zero or negative inflation. Take computer-related equipment: every year, you get more bang for the buck (even when you consider they're inflated bucks). That's called deflation.

No, no, no. You cannot parcel up "deflation" and "inflation" on a per-market basis, then use that to determine the strength or weakness of a currency.

A deflationary currency is a bad thing; you simply have to remember that an economy thrives on people buying things from each other, and breaks down when they stop doing so. It's a bit more complicated, obviously, but primarily you need to be concerned when people have an incentive not to do so.

Deflation causes a breakdown in this in that it becomes acceptable to get "returns" (i.e. increase in worth) for a currency by simple stuffing it in a mattress. This is very harmful, not least because it's a positive feedback loop; the more people stuffing currency in their mattresses, the smaller the money supply, and the faster the currency deflates. See the Great Depression for an example.

For nearly 300 years, inflation was essentially zero in North America, and we had a healthy economy (arguably the healthiest in the world).

If by "essentially zero" you mean "inflation and deflation of double-digits year over year", I suppose that's half-true. It doesn't make for a stable economy, though. And just for kicks, you should look for all of the "Panics" that happened in 19th century America, you might be surprised at the number and their severity.

We need to end the Fed, and re-instate a hard money standard. Just those two things would fix many of our ills.

This is very, very much not the case. Why do you think the "Great Moderation" happened? Why do you think that not a single nation in the world is using a "hard money" standard anymore?

about 5 months ago

On the Practicalities of Counterfeit-Proof Physical Bitcoins

wolfemi1 Re:Why do dictactorships have hyperinflation? (121 comments)

It's far past time we kicked these adherents of failed and discredited Keynesian theory out of government economics. Sadly, Janet Yellen, new Fed chief, is a staunch Keynesian and a fan of the "new" Phillips Curve, which was demonstrated pretty thoroughly to be wrong about 20 years ago.

Wait, what? The "new" Phillips curve has only been around since 1995, so I'm not sure how it could have been demonstrated to be wrong before then.

We already have stagflation under Obama: high inflation (government inflation figures are just plain B.S.) and high unemployment.

What on earth makes you think we have high inflation?

about 5 months ago

An OS You'll Love? AI Experts Weigh In On Her

wolfemi1 Re:Movie doesn't consider its own implications (175 comments)

I think Robin Hanson's commentary on the movie's lack of internal consistency is valid.

Hmm, I'm reminded of the Frederik Pohl quote: "A good science fiction story should be able to predict not the automobile but the traffic jam."

about 6 months ago

Will Electric Cars and Solar Power Make Gasoline and Utilities Obsolete?

wolfemi1 Re:Thought: different engine (734 comments)

Fair enough, but keep in mind that this is comparing with 1960s turbine technology; we have far better turbines available today.

Also, the turbine can spin at its optimal speed since it wouldn't be physically connected to anything, meaning optimal efficiency, no lag, and basically everything that was a problem about the Chrysler is made moot.

about 6 months ago

Marc Andreessen On Why Bitcoin Matters (And A Critique)

wolfemi1 Re:Verification Time (332 comments)

If I swipe my debit card today, the payment processor doesn't transmit actual dollar bills and coins on the spot. Over simplifying, the transaction is logged and my bank will guarantee to pay the seller at some point in the future.

For many transactions, I expect that Bitcoin will be used the same way.

This implies that Bitcoin will lose the only legitimate claim it has to being better than existing currencies.

about 6 months ago

Marc Andreessen On Why Bitcoin Matters (And A Critique)

wolfemi1 Re:Showing value (332 comments)

"Is that the problem?

I thought it was volatility. No, wait... it was a pyramid scheme. Or rather, because the US won't accept it for taxes. Or was it because it's deflationary? Heck, I just don't know any more."

Are you implying that Bitcoin can only have one problem?

about 6 months ago

Marc Andreessen On Why Bitcoin Matters (And A Critique)

wolfemi1 Re:The Problem (332 comments)

Note that "gold" also has a finite amount available that gets progressively harder/more expensive to mine.

Both Bitcoin and gold are poor choices as currency for precisely this reason.

about 6 months ago

Egyptian President Overthrown, Constitution Suspended

wolfemi1 Re:Morsi, (413 comments)

he is human and he needs to be loved, just like everybody else does.

But apparently, he goes about things the wrong way.

1 year,18 days

Sky Deutschland Considering Using Bone Conduction To Force Ads On Train Riders

wolfemi1 Someone hasn't thought this through (205 comments)

So I guess the operating idea here is that the people you WANT to be broadcasting ads to are the ones who are demonstrably trying to get some sleep?

Do they think that doing so will make people MORE likely to buy their advertised products? They may be in for a rude shock.

1 year,19 days

NHTSA and DOT Want Your Car To Be Able To Disable Your Cellphone Functions

wolfemi1 Re:First (405 comments)

Alas for the busybodies, there isn't really all that much evidence (outside the lab) that the use of cellphones is causing calamities on our highways.

Of course there isn't, how the hell would you prove that? Ask the person after a crash if they were talking on their phone when it happened?

I've been hit by someone who I'm pretty sure was talking on a cell phone. I've seen people on phones make incredibly stupid decisions in traffic, swerve into other lanes, go 10mph below the speed limit, etc. The only other time I've seen that is when people are eating or reading (yes, reading) in the driver's seat.

So there's anecdotal evidence, lab evidence, and a good reason for not having substantial real-world data.... why do you not think that it's happening?

about a year ago

NHTSA and DOT Want Your Car To Be Able To Disable Your Cellphone Functions

wolfemi1 Re:First (405 comments)

So, what was the point of your comment? To say that having the fucking state dictate every single tiny detail of our lives is somehow better than living as free men, because there's a slight improvement on the odds you'll be alive for another couple of minutes? Or maybe you just get your rocks off denigrating the position of others? Dunno; I'm not you, and glad for it.

Here's my point, if I have one: Don't be such an unbearable pussy, that you feel compelled to dictate to others how they should live their lives. It's a real dickhead move, and frankly a lot of us are sick of hearing about how you feel there should be a ban or regulation on everything that scares you.

Fuckin' grow a pair, brah.

Geez, where did this come from? There've been huge improvements in auto safety over the last 40 years, and cars have fixed most of the obvious deathtraps. He was just pointing that out. Besides, children can't make an informed decision whether or not to take safety precautions.

People dying every day isn't a counterargument to "people shouldn't die needlessly".

about a year ago

Keyless Remote Entry For Cars May Have Been Cracked

wolfemi1 Re:One time pad? (398 comments)

But a micro SD card can store four gigabytes of key data now, which should be good for the life of the system, so maybe the next step is to embed a one time pad in both the key fob and the car security system.

Erm... I don't think this would be necessarily a good idea. If you move out of range of the car and use the fob, you can record a copy of the next key that will be used in the sequence, and then broadcast it back. Not only would that allow you to unlock the car, but it immediately borks the key fob as well....

about a year ago


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