US Politics: Bike tricks

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Kieppie said:
I'm definitely in favour of having prisoners do some of the hard and menial labour as part of character building and their repentance toward society.
However it's difficult to implement the "don't work, don't eat" type scenario in modern western societies. It's also unlikely to address the general malaise plaguing people.
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Lol. Damnnnn. How very marxist of you. You really are confused.
 
quovadis said:
Nope but at the very minimum they have a text book that will explain it to you. If you’ve ever lived in the states you’ll know that federal minimum wage doesn’t go very far.
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Doubtful as first year course material is very shallow. But if books count then I suppose my old fourth year book covering some of this beats that in terms of content?

I didn't say minimum wage goes very far only that changes to it has a knock on effect on everything.
 
rietrot said:
Leftist nonsense and like all Leftist nonsense it is half true.

There's definitely a slave class of people that can be nothing more. Best to put the shackles back on and make them work, rather than leach of welfare and the productive members of society.
*not specific to any "race"/group of people
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Problem with that thinking is that the free market has shown that the carrot is always more productive than the stick. And labour expense is necessary for innovation.

Forced labour blocks out innovation in the industry it infests. If the labour is too expensive to do a task, we mechanise it.
 
quovadis said:
It'll be interesting to see what comes out over the next days or weeks as the actual reason.
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The reason is that they invested heavily in long term bonds that return 1% and then the interest rates were hiked up, which means anyone spending the same money on bonds today would get 4% returns.

Then some people wanted to withdraw their money and since SVB didn't have enough cash on hand they had to sell some of those bonds for the current market price which is 25% of what they paid, thereby incurring substantial losses.

That resulted in a loss of confidence which sparked massive withdrawals, resulting in them having to sell more bonds and incur massive losses to the point where they can't keep up anymore.
 
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quovadis said:
It'll be interesting to see what comes out over the next days or weeks as the actual reason.
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It isn't that difficult.

SVB was making bank on low interest rates. Interest rates then went up and they then don't have enough money to pay depositors. They then ran out of money, which causes a run.

This is something a chief risk officer would have noticed (hurr, every central bank around the world is raising interest rates, let's not hedge against interest rates), but because they were only interested based on skin colour, identity and gender, they didn't do this.

Video here gives a rundown.

 
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konfab said:
It isn't that difficult.

SVB was making bank on low interest rates. Interest rates then went up and they then don't have enough money to pay depositors. They then ran out of money, which causes a run.

This is something a chief risk officer would have noticed (hurr, every central bank around the world is raising interest rates, let's not hedge against interest rates), but because they were only interested based on skin colour, identity and gender, they didn't do this.

Video here gives a rundown.

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@tetrasext covered it thanks. It’s all liquidity at the end of the day but I’m more interested in the sentiment behind the initiation of the run, if the mix of depositors contributed essentially making the run unstoppable and the numbers behind it.
 
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Those kids look super happy about the removal of regulations which were obstacles to their gainful employment. Adults are ecstatic lol
 

'History will hold Donald Trump accountable' for January 6, Pence says​


Former US Vice President Mike Pence offered his most forceful rebuke to date of his one-time boss Donald Trump on Saturday, saying that history will hold him accountable for his role in the January 6, 2021, attack on the US Capitol.
Pence was in the Capitol when thousands of Trump supporters breached the building in an attempt to stop Congress from certifying the results of the 2020 presidential election, which Trump lost to Joe Biden.

As the vice president has the constitutional role of Senate president, Pence was presiding over what had always been the ceremonial task of approving the votes of the Electoral College to select the president and vice president.
Throughout the siege, Trump sent several tweets, one calling on Republicans to "fight" and others making false claims of voter fraud. He also criticized Pence for certifying the results.

"President Trump was wrong," Pence told assembled journalists and their guests at the Gridiron dinner, an annual white-tie event in Washington, D.C.

"I had no right to overturn the election, and his reckless words endangered my family and everyone at the Capitol that day, and I know that history will hold Donald Trump accountable."
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www.news24.com

'History will hold Donald Trump accountable' for January 6, Pence says | News24

Former US Vice President Mike Pence offered his most forceful rebuke to date of his one-time boss Donald Trump on Saturday, saying that history will hold him accountable for his role in the Jan. 6, 2021, attack.
www.news24.com www.news24.com
 
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