I enjoy checking back in on Nostr development every now and then, but I wish there was a more convenient way of getting a quick overview of recent updates.
It's a petty that people use credit scores as a proxy for "financial competence", because they're such a shit measure of this.
The thing they actually measure is how much potential you've got as a debt slave. That's a very different thing!
This post was brought to you by my bank telling me I need to go into ยฃ15k of debt to improve my credit score. Apparently the fact I pay them so little interest makes me "less reliable" as a borrower. ๐
Something you can't afford to forget at times like this is that for many of the people in charge, the moral imperative to keep everyone calm trumps the moral imperative to tell the truth. They WILL lie to keep people and the markets calm. That's not a conspiracy theory: our laws and methods of governing basically compell them to do this. It's not malicious either, it comes from a genuine effort to "do what's best".
"Nanny state" is a meme, but the UK government has demonstrated many times that it governs like a parent not a partner. If it believes it's unsafe for you to know a thing, it will try to hide it from you. You need to factor that into your decision making process.
I find it useful to think of "credit creation" as banks giving businesses and individuals authority to devalue everyone else's money a little bit. The actual transfer of value is from the entire population to loan recipient, the bank are just a routing node.
In the big org I work for even "apprenticeship-like" ways of working (e.g. 1-on-1 coaching, buddy systems, etc) have been steadily eroded. Which is a petty because in my experience it's clearly the fastest and most reliable way to get competent workers.
For anyone confused by the UK Budget today: The UK Government is going to bring inflation down from 10% to 2.9% by spending lots of money. Hope that clears it up?
Can the global banking system please hold off on imploding for another halving cycle? Lightning, fedimints and the rest could do with a little more battle-hardening, thanks ๐
I meant, we'll make do if we have to, but it would be less stressful if the fiat death throws were a little more... gradual?