• 3 Posts
  • 14 Comments
Joined 3 years ago
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Cake day: February 28th, 2023

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  • I’m not sure how many lost their jobs to the machines at all. At a glance there appear to be about 4 attendants per self-checkout area, which is at least a dozen self-checkout machines at our local Walmart, so they all stay busy enough what with telling the machine I’m old enough to buy beer and such.

    Minus the self-checkout machines I could imagine 2 of the 4 clerks running the usual “not enough cashiers” play that stores got famous for, with the other 2 being sent to the back for whatever duties. Possibly they aren’t hired at all.

    If my questionable observations are accurate, then that means that maybe Walmart is getting more throughput, with everyone ringing themselves up, but maybe they aren’t spending a bunch less on labor.

    I can’t see anybody going back on the self-check machines, though. Not after all that money spent, and the decade that retailers have spent waiting for customers to learn how to do the job themselves, especially the older folks. That was a bitter change to buy, so it’s wishful thinking that we’re going right back to human checkout only.

    Hell, Aldi just installed a couple self checkout machines here. They were the one holding out, too, since an Aldi cashier zooms the groceries through so fast it’s tough to justify. Oh, and they’re trying to have that one person, with shoppers in front of them, also be the attendant for the self-check machines. I double scanned something by accident and the clerk had to stop their own line to help me by pushing a button from way over there and then back to scanning they went.

    Come on, Aldi.



  • Oh well, I suppose everyone will lay down and die with no access to music. What will artists do without that all important half a peso for 5000 streams?

    Cash money says there’s already a native competitor just waiting to get that money. If not there will be soon. Maybe people will just buy records again, shit. Uruguay isn’t doing half bad, financially, maybe they’ll bring tapes back.

    It has been quite something to see American tech companies rolling out across the world trying to pull that same old “sign the EULA or lose everything” bullshit and it’s just not working for them. Too bad we can’t kick them in the dick like other nations can.




  • Every day on the internet, a lucky 10,000 get to learn “common knowledge” for the very first time.

    Like everyone said 50 times, yar har be pirate, all that.

    Or, buy hard copy, which is refusing to completely die because of this shit, right here.

    BUT, you have to make sure the data is on the hard copy and that you can access the data (play the songs, watch the movie, etc) WITHOUT internet access, that is you have to make sure the hard copy of the media is really on the damn disc, and it’s not just a glorified access key to media that will then be streamed from their servers they control. If it is then do not pay for it.

    This is honestly why vinyl is still a thing, once you rip things back out of the digital realm it gets a lot harder for them to pull bullshit, they pretty much have to put the songs on the wax if they want your $40, and they do, oh boy they do they want that money bad.

    Piracy is always a bigger pain in the ass than internet techies act like. No, I don’t want to buy a Plex server and learn how to use it and learn how to make my own VPN and make sure the VPN doesn’t just report my activity to 7 Eyes or whatever that things called and and and and, and results like “my movie got unbought” are also unacceptable.

    Yes, we know, there are “special” websites that you can just surf to and it’s like a janky Netflix that “just works” so long as you already know the name of the thing you intend to watch, otherwise it’s just a blank search bar. Also, you cannot tell other people about the website or the website gets taken down. Nothing is more useful than a website that you absolutely can’t tell people about, wow, what a problem solver that is.

    “I want to watch a movie” is a very “This activity must offer zero friction, I will only accept push button get movie” kind of activity so, yeah. “Be pirate” is not that useful, it’s just the internet’s go-to answer, they always speak loudly for the tiny minority in this place.

    What we’re actually doing is drastically limiting our spending on any of this type of thing, and never, ever pay money to “own” something digital. That era is over. It sucks, but it’s yet another shitty thing that would take bullets to change, and since it’s not worth bullets it’s not changing.

    Honestly I doesn’t even take bullets but if you’re going to build the kind of political movement it would take to create change then all that work would be absolutely wasted on this problem while everyone eyerolls at you like you’re stupid and worthless for caring so yeah, it’s not changing.

    So yeah, do not pay for digital ownership of any kind, ever. It’s only ever a lease with one-sided terms, at best. Amazon lost the contractual right to provide that movie, so you lost the right to watch it, and “buying” it meant buying a license to watch it on their terms, the end. Don’t pay for it.






  • The move by Fitch makes sense.

    No, it does not help that the US has a very high level of national debt, but here comes somebody to scold me about how debt is different when you’re the government and yadda yadda, so never mind that angle.

    No, this is a direct reaction to yet another game of fucking chicken with the debt ceiling. The finance world moves both fast and slow, second by second but also quarter by quarter; for every day trade where microseconds count, there is another action where it takes, oh, 3 months for the relevant body to react to what just happened. This is one of those actions. They’ve spent the last couple of months running their numbers, and now here we are. They have delivered their verdict for the current fiscal quarter, after much deliberation.

    It does not make any sense at all to go around talking about US Fed bonds as if they are “zero risk”, or even “effectively zero risk”, if every 8 years there will come a game of chicken slash pissing contest where the hostages are everyone who has been foolish enough to buy US Federal debt under the expectation that the interest rate will be paid on time. If somebody in the US government does not blink in this game of chicken, then fuck you, the US will default on its “zero risk” debt.

    And so here is Fitch quite reasonably questioning that status quo, that US debt is “zero risk”.

    Keep in mind that the entire damn globe is holding US Treasury Bonds, the debt in question. Just as importantly, the biggest holder of US debt is US citizens. You, somehow. That’s where the yields on a CD come from, and your money market account. US Bonds.

    Typically, 10 year US Treasury Bonds provide the highest guaranteed interest rate -ignoring recent rate inversions because COVID black swan shitshow- because obviously if you are going to lock up your money for a decade, you would expect the best return at maturity.

    But this debt ceiling BS happens every 8 years. This means that every truly serious investor who holds a 10-year T-Bill, from Wall Street funds to the Chinese government, is heavily exposed to the threat of complete default on this debt thanks to that entire debt ceiling thing, to say absolutely nothing about the solvency of the US government, in general.

    That’s not fucking zero risk. And Fitch is tired of pretending that it is.

    Fuck sake, they aren’t even trying to have a debate upon whether the US can sustain its frankly obscene debt level. No, it’s just that AAA rating means “zero effective risk, barring nuclear war or alien invasion or some unforeseeable shit” and all that clownfuckery with the debt ceiling is NOT “zero risk”, nor is it unforeseeable.

    Is that zero risk? When the person who owes you money can watch the due date tick down from 5 years out and wait until the last fucking minute of the last damn day to decide they’re going to pass the law that will allow them to pay you? No, the fuck it ain’t.

    Did they appear to care about the creditors? The bondholders who they owed interest to? No, that whole song and dance was about, I don’t know, probably abortion. The Republicans have been using the debt ceiling as a hostage for a decade or more, so if you’re the French government, for example, and hold a bunch of US Treasury bills, you can’t call that shit zero risk with a straight face, come on. It doesn’t even matter if the US can pay the debt, the question is, will they?

    I need you to understand that literally everyone in the world is investing in US Federal debt, it’s not just you, US person. It’s kind of frightening how US Federal debt is the cinder blocks that many other nations are building their economic foundation on. That’s what being the reserve currency is about.

    Fitch knows that, and they know it back to front, so when they issue a rating, the weight of it is upon them. Can we call it zero risk? Like zero, zero??

    If you have any money in your brokerage money market account, or a CD, anywhere, you’re in this boat, wondering if US Bonds are zero risk. The whole world is in this boat, wondering if US Treasury Bonds, especially the 10-year ones, are really zero risk guaranteed money on maturity. Like, really really, tho? Maybe there’s a smidge of risk? Even the 30 year bonds??? 30 fuckin years on the bond, my dude, zero risk on that?

    We’ve all been on American social media, they all talk like they’re going to have another Civil War; probably not, but still. Zero risk on the 30-year US Treasury Bond? That’s a long time. Shit can go nuclear. Zero risk?

    Could you look your best fucking friend in the face and say, “oh, yeah, buy a US 30 year Treasury Bond, there is absolutely no risk of any sort on that, you will get your interest even if Florida slips under the sea, taking Disney World with it.” Could you? No.

    So pretend that there you are, some team of analysts at Fitch, knowing all of this, knowing more than I do because it’s your job, and looking at each other like, “Can we call this zero risk? Because that’s what AAA means. We all know that. So can we?” And nobody wants to, because it isn’t, and we’re all tired of pretending like it is.

    And Fitch looks at the obvious, it downgrades US Treasury debt from AAA - perfect, the best possible - to AA+ - still near perfect, but room for improvement.

    Fitch is right. Fitch is right to shoot up the warning flare. We’re lucky that China’s situation is still a bit of a mess, and the United States Federal Reserve needed the wakeup call, not that they want it. We’re lucky that buying a bond from the Chinese Federal Government doesn’t quite make sense, because if the state owns all things, then what is a bond? It doesn’t matter what the answer is, it only matters that we have to discuss it. We all know what a US Treasury Bond is, that’s beyond debate. That certainty elevates it.

    It’s not like Fitch are acting up to get attention, fuck that. Every other respectable bond rating house should have done this first. It’s not fair that Fitch has to be the odd ones to call the obvious. Fitch is right. The US needs to get its shit together.