Sale of loans by a regulated bank(Mortgage Backed Securities). The fractional reserve banking system limits the loans made by each bank to a multiple of its reserve. If a bank sells the loan, it can continue to issue more indefinitely or at least until it runs out of people to lend to, and people to sell the loan to.
The second is that it seems that some forms of loan instrument can be used to hold a small part of the reserve.
The fractional reserve banking system deserves to go down in history as the all time, prime example, of why it's a terrible idea to use recursion for anything critical
The houses standing all over europe that have weathered the centuries typically have 2 foot stone walls rather than mud ones. It's also the case that the only old houses you see today are the really well built old houses, the cheap ones didn't last.
The other problem with your argument is that houses don't stand alone. Great fire of London ring a bell? How about chicago. Just about every major european city at one time or another has had a major fire do some serious redecorating - and afterwards, people introduced building codes.
To be honest it about it, the US needs stricter building codes if anything. These timberframe houses that keep getting put up here in the north-east are going to be expensive nightmares for their owners once the heating fuel bills really start to rise.
I'm actually considering switching over to Biotech from CS for much the same reasons. If you've got some spare time to talk about it, could you drop me a line.
Actually atomic bomb projects were under way before the beginning of the second world war in at least 3 countries, (Britain, America, and Germany). Churchill refers to the project in his history of the second world war in 1940. The consolidation and relocation of the American and British programs is what occurred in 1942.
Commercial availability of Nuclear Fusion was an estimated 25 years away in 1980. It still is.
You're so right. I was expecting this to be the first thing anybody pointed out, not one of the last. First thing i did was ditch mine, they sound like crap, and are uncomfortable as all hell to boot. I like the Sony mdr-ed21's, which are good quality at an amazingly cheap $20, and extremely comfortable.
Unfortunately this isn't the way it actually works.
Microsoft has a database of bugs in its software, with rumours have it, something of the order of a half million or more problems in it. A lot of these are little cosmetic things, menu items missing etc., some of them are really serious, and some of them are in between. Now Microsoft could sit down and try really hard to fix all those problems, but unfortunately it would be several years before you saw any new software out of them if they did - especially bearing in mind that on average for every 10 bugs you fix, you'll create at least one new one.
So Microsoft, and in fact all other software manufacturers make a call on which bugs have to be fixed, and which bugs can just stay there. Since they're effectively a monopoly, their definition of bugs that the user will just have to live with, is not going to be terribly rigorous, unless that particular user is a big corporate customer with some leverage, but even then getting a fix out of them isn't easy.
In the meantime, because coding is also an ongoing process, they keep writing new code on a buggy base, and so things gradually get worse and worse. This is besides all the very basic design mistakes they've made over the years, which have been well documented here and elsewhere. To protect themselves they have a license agreement on their software which would be illegal applied to just about every other consumer product you could name, and which absolves them of all and any responsibility for their product's problems.
There's an old saying, the bad drives out the good - and this is basically what has happened to much of the software industry - it's more than about time they got sued over this, i'm just amazed it hasn't happened sooner.
The problem is that if one accepts the theories about the influence of the global conveyor, and in particular the north gulf stream, on the climate; the evidence from the greenland and vostok ice cores suggests that the 'causing ice to form and making a current' part may have an approximate duration of 100,000 years, after a rapid onset lasting 10-100 years.
Based on the aforementioned ice cores, we're coming to the end of an interglacial period (but bear in mind this is geographical time so anytime in the next few thousand years...), and we know that the transitions between the glacial and interglacial states are rather rapid. We just don't know quite what the immediate triggers are, especially for going into the glacial period, since the last time it happened was approximately 110000 years ago.
It would be highly ironic if global warming actually triggered this prematurely, and the immediate consequences for the northern hemisphere would probably be worse than the warming scenario. For the equatorial and tropical countries it might actually be an improvement.
The trouble is nobody knows, and that's the real problem. Incidentally if you want to view the state of the north pole on a daily basis, the NOAA site (http://www.ssd.noaa.gov/PS/SNOW/DATA/cursnow.gif) is fun.
Slashdot Mirror
There seem to be at least two:
Sale of loans by a regulated bank(Mortgage Backed Securities). The fractional reserve banking system limits the loans made by each bank to a multiple of its reserve. If a bank sells the loan, it can continue to issue more indefinitely or at least until it runs out of people to lend to, and people to sell the loan to.
The second is that it seems that some forms of loan instrument can be used to hold a small part of the reserve.
The fractional reserve banking system deserves to go down in history as the all time, prime example, of why it's a terrible idea to use recursion for anything critical
And you just know that originally it was only going to be SS for Special Screening, and then somebody pointed out the obvious...
The houses standing all over europe that have weathered the centuries typically have 2 foot stone walls rather than mud ones. It's also the case that the only old houses you see today are the really well built old houses, the cheap ones didn't last.
The other problem with your argument is that houses don't stand alone. Great fire of London ring a bell? How about chicago. Just about every major european city at one time or another has had a major fire do some serious redecorating - and afterwards, people introduced building codes.
To be honest it about it, the US needs stricter building codes if anything. These timberframe houses that keep getting put up here in the north-east are going to be expensive nightmares for their owners once the heating fuel bills really start to rise.
I'm actually considering switching over to Biotech from CS for much the same reasons. If you've got some spare time to talk about it, could you drop me a line.
It's not clear from the text, but i suspect Churchill wasn't told about the project until he became prime minister - in 1940.
Actually atomic bomb projects were under way before the beginning of the second world war in at least 3 countries, (Britain, America, and Germany). Churchill refers to the project in his history of the second world war in 1940. The consolidation and relocation of the American and British programs is what occurred in 1942.
Commercial availability of Nuclear Fusion was an estimated 25 years away in 1980. It still is.
You're so right. I was expecting this to be the first thing anybody pointed out, not one of the last. First thing i did was ditch mine, they sound like crap, and are uncomfortable as all hell to boot. I like the Sony mdr-ed21's, which are good quality at an amazingly cheap $20, and extremely comfortable.
Please restore ecosystem.
Unfortunately this isn't the way it actually works.
Microsoft has a database of bugs in its software, with rumours have it, something of the order of a half million or more problems in it. A lot of these are little cosmetic things, menu items missing etc., some of them are really serious, and some of them are in between. Now Microsoft could sit down and try really hard to fix all those problems, but unfortunately it would be several years before you saw any new software out of them if they did - especially bearing in mind that on average for every 10 bugs you fix, you'll create at least one new one.
So Microsoft, and in fact all other software manufacturers make a call on which bugs have to be fixed, and which bugs can just stay there. Since they're effectively a monopoly, their definition of bugs that the user will just have to live with, is not going to be terribly rigorous, unless that particular user is a big corporate customer with some leverage, but even then getting a fix out of them isn't easy.
In the meantime, because coding is also an ongoing process, they keep writing new code on a buggy base, and so things gradually get worse and worse. This is besides all the very basic design mistakes they've made over the years, which have been well documented here and elsewhere. To protect themselves they have a license agreement on their software which would be illegal applied to just about every other consumer product you could name, and which absolves them of all and any responsibility for their product's problems.
There's an old saying, the bad drives out the good - and this is basically what has happened to much of the software industry - it's more than about time they got sued over this, i'm just amazed it hasn't happened sooner.
The problem is that if one accepts the theories about the influence of the global conveyor, and in particular the north gulf stream, on the climate; the evidence from the greenland and vostok ice cores suggests that the 'causing ice to form and making a current' part may have an approximate duration of 100,000 years, after a rapid onset lasting 10-100 years.
) is fun.
Based on the aforementioned ice cores, we're coming to the end of an interglacial period (but bear in mind this is geographical time so anytime in the next few thousand years...), and we know that the transitions between the glacial and interglacial states are rather rapid. We just don't know quite what the immediate triggers are, especially for going into the glacial period, since the last time it happened was approximately 110000 years ago.
It would be highly ironic if global warming actually triggered this prematurely, and the immediate consequences for the northern hemisphere would probably be worse than the warming scenario. For the equatorial and tropical countries it might actually be an improvement.
The trouble is nobody knows, and that's the real problem. Incidentally if you want to view the state of the north pole on a daily basis, the NOAA site (http://www.ssd.noaa.gov/PS/SNOW/DATA/cursnow.gif