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Joined 3 years ago
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Cake day: June 11th, 2023

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  • Every real estate agent, every mortgage broker, could see the fraud in the housing market long by 2003, but either didn’t recognize it as fraud at the time, or didn’t care. They were all making money hand over fist to prop it up.

    Zero down payment, 110% LTV mortgages, seller-paid closing costs, buyer is receiving a $3000 check at closing? ARM set to triple their rate in a year? Completely absurd, but the agent is only getting paid if the deal closes. The mortgage broker is only getting paid if the deal closes. The lender is only getting paid if the deal closes. The seller is only getting paid if the deal closes. Everyone needed this deal to close, so they did what it took to close the deal.

    Lenders were offering “Continuing Education” credits that RE agents needed for their licenses. That “continuing education” consisted of seminars coaching agents to encourage these deals.

    By 2003, buyers were underwater with their mortgages as soon as they signed them. Yet it took 5 more years for the bubble to actually burst.

    The circular financing ponzi scheme behind AI will survive until someone can’t service debt. What happens then is either the collapse of the whole scheme, or the government declaring them “too big to fail” and allowing them to reorganize into a single corporate entity.








  • Landscapers and construction want to start as early in the day as possible, but are restricted by noise ordinances designed to protect the sleep of everyone else. They have to wait until after sunrise, and work in the heat of the day in the summer. Daylight Savings Time pushes the summer heat back an hour, letting them work longer and safer.

    On standard time, summer sunrises can occur as early as 3:30AM on the eastern edge of some time zones. Forcing landscapers and construction to wait four hours after sunrise until a noise ordinance expires is absurd. Standard time is terrible in the summer.

    DST does push the morning back, with morning twilight as late as 9am at high latitudes on the western edge of a time zone. But the solution to that is to redraw the time zone boundaries, not force the entire country to continue doing something as stupid as the time change. These places can adopt DST of the next zone to the west, which is standard time for their current zone.

    DST in winter takes an hour of morning daylight from the boss, and gives it back to us as an hour of daylight after work, where we can put it to use. Kids can enjoy year-round outdoor extracurriculars, instead of being limited from November to March due to entirely arbitrary clock settings.