Dan Davies @dsquareddigest
-- optimism of the will, pessimism of the wallet -- more abstract thinking on the general topics of this twitter at https://t.co/cP5vsFcHkU frontlineanalysts.com Joined November 2010-
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Okay, this is nuts. How can you give stablecoin operators access to FDIC receivership without making them pay for it?
Okay, this is nuts. How can you give stablecoin operators access to FDIC receivership without making them pay for it?
PUBLICATION DAY! and here's an extract! open.substack.com/pub/backofmind…
The fun thing is that Gavin Williamson seems to have circulated this spreadsheet in 2017 as an open threat to MPs to stay in line over the Brexit shenanigans, and it was received by the lobby hacks as titillating gossip then forgotten until 2022, when Williamson became fair game.
@asentance The key problem with the model is that the BoE/MPC are duplicitous about it. They use it to signal expertise and authority [see, the model]; but at the same time they invoke maximal judgement so that it does not bind them at all. I don't know how you can address this.
the first six words tell you to stop reading as the basic premise is completely up the wall
the answer is accountability sinks
the cats/coyotes meme template, but with the punchline "sounds like you are just recruiting Bangladeshi doctors for Australia"
In 2019, Glodi Wabuela became the first ‘county lines’ drug dealer to be tried & convicted for human trafficking. It was a shock to realise I’d gone to primary school with him. I’ve spent the last year putting together his story for @gdnlongread theguardian.com/law/ng-interac…
quite possibly a significant piece of the sudden change in the productivity gap, and not impossibly some of the story with respect to life expectancy
quite possibly a significant piece of the sudden change in the productivity gap, and not impossibly some of the story with respect to life expectancy
When facts change even the EU changes its mind. Eventually, after trying everything else.
When facts change even the EU changes its mind. Eventually, after trying everything else.
Amazed there is so little support in Westminster! It obviously will drive lower rents + more affordability housing. The lack of regulation of leasehold costs where freeholders can get away with almost anything is truly the Wild West! @rcolvile @AnnaSophieGross @PickardJE
they've gone with the poetry rather than the torture theme I see
they've gone with the poetry rather than the torture theme I see
Austen Allred, CEO of Lambda School, was just personally fined $100,000 for “Deceiving Students and Hiding Loan Costs,” and ordered to stop collecting from graduates. I think this saga is coming to a close. consumerfinance.gov/about-us/newsr…
my professor ACTUALLY SAID that "there's no place for talking about individuals in a group theory lecture"
my professor ACTUALLY SAID that "there's no place for talking about individuals in a group theory lecture"
My Mother is very strongly of this opinion. amzn.eu/dM9mHbf
You just know these details were pitched to a room full of VCs giddily nodding along as the details of this 'innovative financing' were revealed. "It's a payday loan but you have to sit through 6 mos of Zoom calls first." "Brilliant!"
You just know these details were pitched to a room full of VCs giddily nodding along as the details of this 'innovative financing' were revealed. "It's a payday loan but you have to sit through 6 mos of Zoom calls first." "Brilliant!" https://t.co/CbSBXb7XZD
O M G it’s here!!! I am so excited @kjhealy (is Marion on here?)
those who can, do. those who can't, start a substack. (backofmind.substack.com is mine!)
those who can, do. those who can't, start a substack. (backofmind.substack.com is mine!)
Quantian @quantian1
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43K Followers 5K Following Despite appearances I am an applied econometrician. Also trying to write art things at https://t.co/UBlzYddnTE 🏳️⚧️🏳️🌈🇦🇺@dsquareddigest I already enjoyed the episode but I think I’m enjoying this theory even more
@dsquareddigest Ha ha I wouldn’t call myself an actual expert… but what I do end up spending a lot of time doing is persuading groups of humans to believe that if they all individually want things to work differently they CAN decide together to just start doing it tomorrow.
BIG money going for unscrupulous philosophers willing to give techbros "the cognitive equivalent of a Valentine's Card from their Mum".* *h/t @dsquareddigest, whose book is out today.
With the @FHIOxford dissolved, everyone is now welcome to give me money to found an organisation to make computer not do bad thing.
Okay, this is nuts. How can you give stablecoin operators access to FDIC receivership without making them pay for it?
Putting Coinbase/Circle aside, about half the bill is a cut-and-paste job of the FDIC receivership provisions, but with a fun twist. The bill says “A payment stablecoin issuer shall not be charged deposit insurance premiums.”
@dsquareddigest Started reading today! As someone who works in cultural transformation in organisations I’m already nodding furiously!!!!
@dsquareddigest @OU_Williams the key civil servant who recently retired from the ministry of finance having been both Wolfi and Lindner's offboard brain turned out to be...a lawyer.
@dsquareddigest @tylermacro10 But it's not getting them to work (US LFP pre pandemic was deteriorating relatively) it's getting them to be productive at work...
@dsquareddigest Came to the same conclusion after reading this series of vignettes the other day pioneerworks.org/broadcast/club…
This duplicity is odd because I think most of the MPC members don't really understand the model. Why would they? Several of the ones with enough of a background are too busy to grapple with it for long enough. And many obviously don't have that background.
@asentance The key problem with the model is that the BoE/MPC are duplicitous about it. They use it to signal expertise and authority [see, the model]; but at the same time they invoke maximal judgement so that it does not bind them at all. I don't know how you can address this.
Not having that background is not wholly bad. There are other useful qualities in an MPC member, or a collective noun of them [Committee?]! And of those a subset either because of the BoE culture, or lack of confidence are not able to ask enough questions to progress.
@asentance He doesn't seem to reflect on how extraordinary it is that there was so little dissent during this episode [mirrored round the world really].
@dsquareddigest I just think it's fascinating that both divergences seemed to start roughly at the same time...
Not my expertise but @julianHjessop (once again) highlights a generic Brexit issue: a) The UK had lots of pre-existing structural problems pre-Brexit b) Brexit was supposed to help solve them c) Instead, it's mostly made them somewhat worse d) this was predictable (& predicted)
ICYM, this is a decent (and worrying) report from the Nuffield Trust. It covers a lot of ground, but here are four observations on the headlines about medicine shortages… 1. There is no hard evidence that these shortages are worse in the UK than in the EU. Indeed, the report…
@dsquareddigest And by bizarre coincidence Kindle has just delivered the pre-order
@dsquareddigest Would someone have written a book on this subject by any chance?
In 2019, Glodi Wabuela became the first ‘county lines’ drug dealer to be tried & convicted for human trafficking. It was a shock to realise I’d gone to primary school with him. I’ve spent the last year putting together his story for @gdnlongread theguardian.com/law/ng-interac…
NEW ODD LOTS: How American Workers Got Hooked on Adderall @tracyalloway and I had a blast getting to talk to @_danielle_carr about what this popular drug actually does. And the historical and market forces that turned it into a workforce staple. bloomberg.com/news/articles/…
@dsquareddigest I wonder if that was the reason she sacked him
@dsquareddigest Don't say that, Dan, until you've read the poetry🙄