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I’m constantly amused by use case proposals that involve governments suddenly realizing that they care about cryptographic proof of anything. Governments are still using wet signatures.

Exactly. Given that there’s not much more for it go (what’s the carrying cost of cash? 50 basis points?) it looks like picking up nickels in front of a steam roller to bet that it’ll squeeze out that little more.

I think you’re only guaranteed 7.12 for 6 mo?

Also depending on the underlying implementation and what you are trying to update to, it could be super cheap. For example, in a column oriented storage format updating every value of a particular column to the same thing would be trivial.

I know I’ve posted about this before, but can you give me the bull case for bonds? I don’t see it.

There’s no reason for a taper, certainly not on the MBS side. Those purchases should simply cease given the current housing market.

https://www.washingtonpost.com/us-polic ... en-prices/ Wherein economists begrudgingly admit that dropping trillions of dollars from the sky *might* be playing a part in persistent inflation and not just “transitory supply shocks”. But defend it anyway and offer no ideas for how to rein it in...

The baby steps they took and then quickly retreated on to protect stock market profits does not in any way demonstrate they are terrified. After the 2008 recession ended we never returned to normal monetary. We had depth of the recession emergency loose policy for a dozen years. That’s not...

Suppose for the sake of argument you are completely right on this point. The fact that we have a Fed that can’t or doesn’t care to fight inflation if it does arise on the demand side makes persistent elevated inflation more likely than it would be otherwise.

I have a somewhat different scenario—$1200 company contribution for singles ($2400 couples, $3600 families), and the alternative is good but not zero OOPM (the OOPM is actually not that different between the plans but copays vs co-insurance). In my case the HSA is a no brainer. It sounds like...

Which I think goes to my original point, we don’t (anymore?) have an independent Fed dedicated to preventing excessive inflation.

This is a good thing, no? As far as I remember from my polisci classes the Fed is not supposed to be in the business of making sure no investor ever takes a nominal loss on anything.

Because everyone at the Fed is convinced it won’t.

I’m not expecting stagflation, at least not in 2022. Instead I think we’ll have high nominal returns and high inflation which Serious People will attempt to convince us is not really inflation and even if it is, that’s ACTUALLY a good thing.

A very targeted selection of high-income households. Maybe Congress can make up some of the income from increasing the SALT cap with an excise tax on high end pickup trucks.

Real or nominal? I’m worried about inflation.

I don’t think GCP has any chance. Google’s culture is just too alien to the typical enterprise’s culture. It’s not just a matter of being bad at, say, back-compat it’s a long history of disdaining the entire idea. If I was trying to set up a nation’s covid vaccine rollout I might consider...

I’ve fairly extensive professional experience with public clouds, and azure is firmly a second choice from a feature and reliability standpoint. I understand that second place in a huge and growing market can still mean strong revenue growth but as an investor I’d be very worried about sustained...

In the US mortgage interest deduction is capped at the interest paid on the first $750k of indebtedness. Combined with the SALT limit it makes it difficult for most married couples to get full benefit from the MID. The first year of a $750k mortgage at 3% costs $22k in interest. Combine that...

Paying off a mortgage is almost certainly a better option than the garbage government bond rates on offer right now. Subbing out a portfolio item with a same risk profile, better returns option pushes out the efficient horizon.