Category: Business

The budget promises jobs, but does little for workers in the gig economy

Treasurer Josh Frydenberg promised a federal budget focused on “jobs, jobs, jobs”. In one sense he didn’t disappoint. His budget speech mentioned jobs 37 times – an average of about once a minute. “This budget is all about jobs,” he…

An Ethereum VR Game Featuring Atari and Care Bears Sells Plots of Virtual Land for $76K

A great number of Non-fungible tokens (NFTs) have been selling on various marketplaces this year creating tens of thousands of dollars in NFT sales. One particular platform called The Sandbox has been selling virtual land parcels for thousands of dollars…
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The Great Financial Reset: IMF Managing Director Calls for a ‘New Bretton Woods Moment’

As the global economy shudders from the disastrous effects of central planning, the International Monetary Fund (IMF) managing director in Washington, DC, Kristalina Georgieva is calling for a “new Bretton Woods moment.” Georgieva spoke about the juncture on October 15,…
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No snapback: the budget sets us up for an unreasonably slow recovery. Here’s how

Josh Frydenberg has told us his 2020 Budget is “all about jobs”. What he hasn’t said is that it is actually aiming for a slower recovery from the recession, as far as unemployment goes, than from most recessions in Australia’s…
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Cashfusion Use Increased by 328%, $200M in BCH Fused and Close to 20,000 Fusions

Cashfusion, the privacy-enhancing solution for the Bitcoin Cash network is nearing its one-year anniversary and during the last four months, fusions have increased by 328.93%. The protocol recently completed a security audit and fusions are nearing 20k with close to…
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187,000 BTC Drained: Over $2 Billion in Bitcoin Leave the Top Exchanges Since June

Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen significant bitcoin reserve balance drops. A few months ago trading platforms had a lot more bitcoin reserves on hand…
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A Case for Claiming Social Security Early

Over a year ago I wrote a post titled Why Taking Social Security Early Might Be the Best Option. It was me wondering if taking Social Security (SS) early was a good move — despite the conventional wisdom that the…
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COVID won’t kill populism, even though populist leaders have crisis badly

Three of the world’s most populist leaders of modern times – Donald Trump, Boris Johnson and Jair Bolsonaro in Brazil, have handled the COVID crisis badly. All three have caught it. In the Financial Times, chief economics commentator Martin Wolf…
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Bitcoin Mining Rigs Struggle for Profits, Despite BTC’s Hashrate Reaching an All-Time High

Bitcoin’s hashrate climbed to an all-time high (ATH) this week touching 166 exahash per second (EH/s) on October 14. Meanwhile, despite the recent price rise and hashrate ATH on Wednesday, only a small group of next-generation mining rigs are profiting…
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In defence of JobMaker, the replacement for JobKeeper: not perfect, but much to like

There’s a lot to like about the JobMaker Hiring Credit announced in the budget. As lockdowns ease, it’s logical to cautiously move from protecting jobs in struggling sectors to generating new jobs in growing ones. For the next year, employers…
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Vital Signs: yes, we need to make things in Australia, but not like in the past

Much of the focus of Opposition Leader Anthony Albanese’s budget reply speech was around Labor’s proposal to expand childcare subsidies – a policy with some flaws but which moves in the right direction. Labor’s plan to modernise the electricity grid…
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Bitcoin Miner Marathon Agrees to Deal That Cuts Electricity Costs by 38% With US Power Company

Nasdaq-listed Marathon Patent Group has agreed to a joint venture deal with U.S. independent power producer Beowulf Energy to deliver cheap electricity for its bitcoin mining operations in the country’s north. In a statement on Tuesday, Marathon said that it…
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Dissecting the Nobel: how Milgrom and Wilson changed the face of auctions

The most celebrated theory in all of economics, the so-called First Welfare Theorem, says that, provided there is perfect competition and perfect information, free markets allocate resources resources efficiently. In other words, it says the father of economics Adam Smith…
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Retirement Interview 26

Here’s our latest interview with a retiree as we seek to learn from those who have actually taken the retirement plunge. If you’d like to be considered for an interview, drop me a note and we can chat about specifics.…
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Treating workers like meat: what we’ve learnt from COVID-19 outbreaks in abattoirs

From the United States to Brazil, Britain, Germany and Australia, meat-processing plants have played a peculiar role in spreading COVID-19. In Brazil, union officials allege one-fifth of the industry’s employees – about 100,000 meat plant workers – have been infected.…
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Spain Approves Bill Requiring Cryptocurrency Owners to Disclose Crypto Holdings and Gains

American Economist Stephen Roach: ‘U.S. Dollar in the Early Stages of Sharp Decent’ American economist and former chairman of Morgan Stanley Asia, Stephen Roach said on Sunday that he believes the U.S. dollar will “crash faster and harder.” Roach said…
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Hathor Merge Mining Pool Commands 33% of the Bitcoin Cash Hashrate

Bitcoin Cash proponents have been recently discussing a new mining entity with a large amount of hashrate joined the network. The merge mining operation called HathorMM currently captures 33% of the Bitcoin Cash hashrate and the miners are also mining…
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Making auctions work: the winning ideas behind this year’s Nobel Prize in economics

More than ever before, auctions shape the economy. Sites such as eBay have made them an everyday transaction. The placement of every Google ad is priced by an instantaneous mini-auction. Governments use them to allocate radio spectrum and to run…
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Millionaire Interview 204

Here’s our latest interview with a millionaire as we seek to learn from those who have grown their wealth to high heights. If you’d like to be considered for an interview, drop me a note and we can chat about…
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Bitcoin for Spain’s Congress: BTC Sent to 350 Spanish Parliament Members

American Economist Stephen Roach: ‘U.S. Dollar in the Early Stages of Sharp Decent’ American economist and former chairman of Morgan Stanley Asia, Stephen Roach said on Sunday that he believes the U.S. dollar will “crash faster and harder.” Roach said…
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