This insider trading isn't hedge-funds working hard to get an edge. It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power. And by doing so in this manner, they are taking money away from the actual productive people trading in the futures market.
Besides, as Matt Levine often says. In the US, insider trading is a matter of miss-appropriating information when you have a duty of confidentiality. Its not about trading when you know more than someone else. Its about trading when you know something your not supposed to share.
>It's political insiders trading ahead of public statements. They are getting gains not by dint of being incredibly smart, nor from working very hard. Instead its from abusing their position in power.
The article specifically argues that it's extra bad beyond just corruption. That's the part I'm pushing back on.
>The stench of corruption is overwhelming. Yet aside from the raw corruption, these incidents also raise a larger question. The insiders ripped off the parties who sold futures to them at what turned out to be very unfavorable prices to the sellers. What broader damage does this kind of unchecked insider trading do?
The American people knew who they were electing. They knew it, and they elected him anyway. Whatever damage results from that collective decision is our cross to bear.
A market maker who doesn't know if their counterparty is a Trump insider looking to fleece them must ask for a bigger safety margin to cover the risk they are taking -- and not just from the insiders. Honest participants in the market get taxed in order to provide the insider payout.
This is extremely basic incenive / money-flow tracing and "setting aside corruption" is a premise that has the hairs on the back of my neck standing straight up. It smells like someone looking to force the framing. Everyone before me in this conversation was right to be suspicious of your motives in asking it, and I am suspicious as well.
>A market maker who doesn't know if their counterparty is a Trump insider looking to fleece them must ask for a bigger safety margin to cover the risk they are taking -- and not just from the insiders. Honest participants in the market get taxed in order to provide the insider payout.
That's still corruption. Your argument about other participants being "taxed" applies for other sophisticated counterparties as well, eg. hedge funds with armies of analysts and can fly helicopters around to gather intel. Unless you want to say that's bad too, the only difference between the two is that the hedge fund isn't engaging in corruption.
>Ah, so you were just trying to force the "set aside corruption" framing.
Again, if you read the TFA, the entire thesis is that the insider trading is extra bad beyond corruption. The corruption itself only gets a passing mention.
>Again, if you read the TFA, the entire thesis is that the insider trading is extra bad beyond corruption. The corruption itself only gets a passing mention.
I did and that's not at all what TFA argues. It argues that it's the corruption that's the problem, which is exacerbated by the lack of legal enforcement by the current administration -- mostly because many in that administration are either actively involved in said corruption, or happy to cover it up/pooh pooh it.
I suppose you might think that some folks who haven't read TFA might buy your analysis, even though it's pretty much the opposite of what Krugman argues.
If you assume the referee is actually playing the game then yes, the difference between a referee making a call to advantage their own bets to make the other team win and an opposing team making a play to make themselves win is one of those entities is engaging in corruption.
I'm not sure what world we live in where being able to rent a helicopter implies hard work and not large amounts of preexisting wealth (generally taken by many to indicate at least some abuse of power, somewhere along the way).
It's a world where renting a helicopter is hilariously cheap available to some average person.
Looking at my local tourist helicopter place, a private custom flight is $1k per ~15m. That seems like nothing if it allows you be make millions with the information.
Shorts don't cost much to open, just the borrow rate on the shares. As long as it goes straight down you can leverage quite a bit without getting called.
Of course, this is the fastest way to lose your shirt and everything you have ever worked for, if there is any uncertainty.
Yes, I'm sure Robinhood or Schwab will allow me to open a $2M short position when my portfolio is $[sufficiently small that I'm debating the costs of a couple of thousand for a helicopter charter].
It's easy enough to synthesize 100x leverage by synthesis through options. If you have $25k for a margin account you could do it no problem. Of course, your funds would be rapidly vaporized if you were even a little bit wrong on timing or you needed more margin for volatility to keep it from getting called before it dips.
Meshtastic supports store and forward for ESP32 nodes that have a few MB of RAM, but not for the nRF52 devices that can't practically buffer much. I've only used the latter class of devices, so I don't have any experience with how well Meshtastic's store and forward works in practice.
I believe there might be more to it. Wasn't a big part of thinking or reasoning taking the response, replacing the final period with "Wait!" and then continuing? Which suggests that such words actually are important to the internals.
This delay in nuclear means that, by now, nuclear is no longer a solution. Had we started with nuclear somewhere in the first decade of this millennium, then it would have been a good solution to climate change, and we would be in a better position.
But in our current position, nuclear is too slow, and luckily we have alternatives in wind and especially solar. Where the main advantage of solar is how quickly it’s scaling. Notably, the slowness in building nuclear also limits how fast you can improve the process of building nuclear. Whereas solar is so quick to build you can learn lessons and try innovation much faster.
I hate to be this dismissive, but it feels like an academic with a paternalistic streak looked deeply at how the Internet works, saw lots of different protocols and weird design decisions, and decided: this is not coherent enough. Then he figured, I'll make all the decisions now, that way it'll be coherent. And let's give every subnet a centralised source of trust and management. That'll make the design so much cleaner!
By which I mean to insinuate there's a lot of nuance and learned lessons in the current situation that this design seems not to learn from. Even though it did learn some lessons, I don't think this passes 'Chestertons fence'
nah. this is palantir operating through a bermuda holding company trying to shoe-horn oauth into every single packet to force every single click ever to be authenticated against a persona. the goal is 1984.
There was a lot of forceful diplomacy by the US. Sure, but there was also a lot of actually good diplomacy happening. Calling all of that a thin glove is underselling the good work of a lot people.
The good side of US diplomacy was one of the most positive forces in the world. Trump fully dismantled that. Not just the US aid work, but also the Pax Americana that really limited the scale of war in the world.
There were horrible missteps at the same time. The US wasn’t all good. Maybe it wasn’t even net good. But there was a significant good side, and its dismantling isn’t a small thing in the world.
I've heard it a lot from podcasts that are towards the abundance movement. I think its common within the rationalise movement.
Personally I really like it for "load-bearing assumptions". Because it let's you work with assumptions whilst pointing out the potential issues of that assumption.
Besides, as Matt Levine often says. In the US, insider trading is a matter of miss-appropriating information when you have a duty of confidentiality. Its not about trading when you know more than someone else. Its about trading when you know something your not supposed to share.
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