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Clubs' spending must be tied to their revenue, foregoing sponsorship money would force them to spend less no matter what, and there's a continuos arms race to spend more and more.

Also, practically all football club ownership is a loss-making activity.

The US government gets to pay x% interest because they can theoretically always service a debt denominated in USD. Every other borrower in USD pays (x+y)%, where y amongst other things represents the risk that they will default.

GPT-4 3 years ago

Can you name a single form of analysis which a human can employ but would be impossible to program a computer to perform?

Can you tell me if a program which searches for counterexamples to the Collatz conjecture halts?

Turing's entire analysis started from the point of what humans could do.

Even something as broad as 'buying and holding an index fund' beats almost all funds and strategies.

How do you come to believe something so blatantly false and naive? Is this due to the proliferation of the (good) advice that most Americans are best off saving for retirement in index funds?

Tether is not backed by crypto so why would crypto market losses affect it? They publicly state what their assets are and how much they're worth. People just think they're lying for whatever reason.

Why? They may have acted reckless up to now with the commercial paper etc. but unless they have taken massive losses and somehow covered them up, they can just convert to risk-free assets and take the yields.

You don't need to trade with an intermediary in the commercial paper market, companies could directly issue the paper to Tether, no one would ever know about it. They could then reduce their holdings to zero by holding the paper to maturity and buying treasuries with the proceeds. By definition this being commercial paper means it would take just months to do this.

That's a legal principle which exists because of the incredibly high bar we want our governments to cross before they deprive people of their liberties. Individual citizens can believe whatever they want to believe.