Additionally, this $90 deposit can then be treated as 'real' money and loaned out according to the same 10% reserve - $81. In the manner of a babushka doll, this can be deposited and loaned out ($72.90, $65.61, $59.05... etc.) until the amount becomes vanishingly small.
It's difficult not to see to the word 'slumped' as an editorial judgement, and I find it quite strange. The world is grotesquely overpopulated and at some point it needs to stop.
It's important to remember that up until 60 years ago they weren't in any way separate from one another, and up until 20-30 years ago when the south's economy took off, there was little material difference between how the two countries were run.
He says Google got 100x their investment since it's 'worth' that multiple of what they paid. I don't think it's a valid argument since they paid real cash and have only a notional value in return. It's hard to see anyone forking over $100bn+ for youtube, and I doubt it's even made enough profit since they bought it to cover what they paid originally paid.
None of this is to particularly criticise either the original post or its followup - it takes courage to call it as you see it and then own up to your mistakes, but it's always worth taking another pass at the figures to see if they really stack up.
Guarantee everyone in this comment thread saw that episode of the West Wing where CJ meets the cartographers for social cartography. Me too. Big block of cheese, indeed...
It reminds me of the astounding naivete of Aaron Swartz's girlfriend (or whatever she was at the time) in talking to the FBI and then being surprised that they were just looking for shit to pile on him and nothing else.
I read that three times as register outRage and couldn't figure out what the article was on about. Register outrage,on the other hand, I would totally get (and is totally overdue a front page HN story).
It's not necessarily invalid, at least not for the reason you give.
Lifeguards can go to jail (in Europe, at least) for manslaughter, as can ski marshals, if they're deemed sufficiently negligent when someone dies. It's pretty rare, but certainly something on the equivalent scale to causing a global economic crisis would warrant it.
Single-handedly is a bit much (and kind of an insult to every one else involved in passing the Zadroga Act). Stewart would be among the first people to tell you that, i think.
Worth a watch. It is painful and seemingly stupid at times but it's worth trying to see it from the perspective of someone who, thus far, hasn't noticed or cared about any of it. I can't quite do it, but the underlying intelligence of Oliver's argument and performance illuminates the lack of traction he's had at the societal level and hints at a possible way forward. Kudos, I suppose...
Long, but worth a read even if you're not in the field. It helped bring into focus a lot of the things that didn't feel right about startup culture (if it can be called that), but that I couldn't quite put my finger on.
