Low inflation is “one of the major challenges of our time,’’ Jerome Powell says bloom.bg/2JZDdVn

Two kinds of stablecoins. Fiatcoins are pegged to an external fiat currency like USD, directly or indirectly. Flatcoins are newer. If fiat itself starts to inflate, it isn’t really “stable”. So a flatcoin optimizes instead for price flatness vs an on-chain basket of goods.

If you scare people enough, they will demand removal of freedom. This is the path to tyranny.

The overwhelming success of the SF School Board recall is so encouraging because it sends a strong signal that the vast majority of people are rational and sane, even if they are mostly quiet on social media.

While the year-over-year reading of #CPI #inflation declined from 9.1% in June to 8.5% in July, median #CPI and trimmed mean CPI came in at 6.3% and 7.0%, respectively, indicating inflationary pressures remain broad-based. See the update: clefed.org/CPI

No matter what you do for work, no matter how you live your life, no matter what your stances are—there will be some crowds who respect you for it and others who don't. If you live true to your values, you'll win the respect of the people you respect. That's all that matters.

Tom foolery

Milton Friedman > Jerome Powell

Truth brings reconciliation

mooner expected the same in Jan, Feb, Apr, May, June .... Sep, Oct, Dec... etc. Mooners & Cramer on every dip this year, buying opportunity, The bottom was in 10x already nope. don't speculate like Cramer or mooners. the bottom is not in yet.

It is amazing how much positive velocity is created by putting something, no matter how barebones, in front of users. Delivering something useful forces you to level up your thinking & execution, and your cherished ideas get quickly validated or disproven.

Picking the right race > winning the wrong race.

giving equity to employees is perhaps the key element to making startups work. it's amazing to me that some countries make this so hard (sometimes totally economically impractical) and then wonder why they don't have more successful startups.

What we need is TruthGPT

Yellen was in Kiev last week to reassure Ukraine that US financial aid would continue. But she can't reassure 10,000+ small businesses that their deposits are safe. She says she's "monitoring" the situation. Give me a break.

does anyone else remember when the goalposts for agi were at vaguely human level performance rather than outperforming the best humans at everything

As the Fed’s interest-rate hikes sent bond prices plunging last year, some of the country’s largest banks used a simple accounting maneuver to help keep billions of dollars of losses from piling up via Jonathan Weil wsj.com/articles/as-in…

"The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge." - Daniel Boorstin

When a government starts trying to cancel dissent or avoid dissent is when it’s rapidly losing its moral authority to govern -Harper in 2005

Yellen's only regret as Fed chair: Low inflation cnb.cx/2o2EOi5