Presumably, for the dollar to be the world’s reserve currency the world needs to have sufficient excess reserves to be able to buy lots of US Treasuries.
If there were some event or events that causes a dramatic contraction in world trade and set off financial crises around the world, many countries may be unable to buy treasuries in the same quantity.
A potentially scary thought exercise may be to figure out what the collective reduction in treasury purchases needs to be before it all blows up. I have no clue what that number may be.
But I have a feeling that if the dollar ceases to be the reserve currency, it will not be because the world has decided on something else.
Sounds like it is going to result in much higher minimum salaries required to entice “key” people to move to Florida. For all businesses, not just Citadel.
It was a chain of their own decisions that got them here.
But yes, it is hard to imagine a way for the App Store to exist in its current form if the ruling stands. If you can use an outside payment provider taking a 3-5% cut, nobody is going to use Apple directly and pay 15/30%.
What are some of the options? No 1st-party App Store? Dramatically increased annual dev fee? Devs pay a per-GB fee for customer downloads of “free” apps?
The same options that exist on macOS. Use the App Store and the benefits it gives you if they're worth it for you, or distribute and install apps from elsewhere if that's what you want.
To be clear: I’m not Tim Cook, I don’t work at Apple, and I’ll play no role in any decision that is made. I also have no inside information.
It’s hard to believe that the annual developer fee plus the revenue from the small minority of devs for which paying the Apple commission makes sense will cover the cost of running the App Store.
I don’t think you will get that choice. The App Store either goes away (for non-Apple software) or the cost structure changes such that it doesn’t matter who your payment provider is.
The macOS App Store is still around despite having competition, so I see that as a point against the iOS one going away if there is competition.
But even if it does, the profitability of Apple's business is Apple's problem. If their iOS store is only profitable through anti consumer (I can't install my own software on my own device) and anti competitive measures (you must give apple a 30% cut off all sales and they have veto power over your app at any point) then perhaps it shouldn't exist in it's current form.
There isn’t much publicly-available information with hard numbers (probably on purpose), but it appears that you need a huge amount of unrealized gains for buy-borrow-die to make sense. This implies that it is a very expensive scheme to run.
If you pay 50 cents to a financial service provider to avoid paying 1 dollar to the government, you’ve definitely come out ahead and the government has definitely lost. But the real winner is probably the financial service provider that is mostly pushing paper around rather than figuring out how to create the multi-billion dollar business that is needed to start the whole process in the first place.
Note that Cermak eventually died from his wounds, resulting in a street getting named after him. On that street was a giant printing building converted into a data center, becoming one of the most important internet connection points for a few decades.
A lot of people here have probably dealt with computers inside of or connected to 350 E Cermak/CHI1. There’s your tech connection to Roosevelt :)
This way of thinking is how we end up with a ton of spending and not a ton of results.
I strongly suspect that Mississippi should be allocating more resources to education. But this is a political problem and the schools have nearly no say in whether the legislature does or does not increase funding.
So. Do we close down the schools and wait until it is resolved?
Or do the schools do the best they can with the resources they have? Do you have evidence that placing kids in the most skill-appropriate classroom is a worse use of available resources than placing them in the “correct” classroom based on age or previous cohort?
> This way of thinking is how we end up with a ton of spending and not a ton of results.
"Ton of spending" are weasel words. "Not a ton of results" is already the problem.
If your school system fails to teach kids how to read after 3 years, this is a school system that fails at it's primary and most basic responsibility. These third-graders are not the problem, they are the canary in the coal mine.
Advocating for holding back third graders and expelling underperformers is a kin to advocate for getting rid of canaries because they are a nuisance when assessing health and safety.
> they tried to get the guy to take a foreman gig so they could skimp on his payout.
That’s federal law; nothing to do with the company or New Orleans.
Glossing over a lot of nuance, but if you can offer the person what amounts to a lifetime (or at least long-term???) job at the same or better pay that they can reasonably do with their new disability, there is no standing for a workers comp claim.
The hell it doesn't. They didn't accommodate his new disability. The foreman on the crew had to make the same climb in the same gear, they just weren't doing the cleaning. This is a guy who tore and broke every joint and bone in both legs and had two separate locations where they had to fuse his spine.
They wanted to offer him the job so they could fire him for not performing because they didn't want their premium to increase.
If there were some event or events that causes a dramatic contraction in world trade and set off financial crises around the world, many countries may be unable to buy treasuries in the same quantity.
A potentially scary thought exercise may be to figure out what the collective reduction in treasury purchases needs to be before it all blows up. I have no clue what that number may be.
But I have a feeling that if the dollar ceases to be the reserve currency, it will not be because the world has decided on something else.
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