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Category Archives: Financial System

Craigslist’s Craig Newmark: ‘Outrage is profitable. Most online outrage is faked for profit’

The Guardian – The founder of the online classifieds site is a survivor from the era of internet optimism. He has given significant sums to protect the future of news – and rejects the idea his website helped cause journalism’s financial crisis

…Newmark, who has previously observed “a trustworthy press is the immune system of democracy”, prefers not to use the term “fake news” – perhaps it has been tainted for ever by Donald Trump. He reasons: “Some people have said fake news is news that I don’t like, so I will talk about misinformation or disinformation and that is often either false news or false witness, either weaponised information or just carelessness…There is an entire ecosystem at work, he continues, that can enable a falsehood from the obscure reaches of the web to jump on to millions of TV screens with dizzying speed. “It’s a small amount of disinformation originating in some of the social media platforms used by foreign adversaries and their domestic allies. They get amplified: there’s multiple levels including conspiracy sites, then news sites which don’t care about fact-checking. And then once that becomes news, sometimes that emerges into conventional or mainstream media.”…”

GSA Offers First Look at Unique IDs to Replace DUNS

NextGov – The General Services Administration gives a first look at the new Unique Entity ID, the validation system that will replace the long-standing DUNS number. [h/t Tom Johnson] “The U.S. government is moving to a new unique entity identifier for federal awards management, including, but not limited to, contracts, grants, and cooperative agreements, which… Continue Reading

Daily Infographic

“At Daily Infographic we strive to curate the most interesting infographics on the web. We scour the internet for data visualizations [on more than two dozen topics] with the best content and design to bring easily consumed facts and figures to our users. For seven years Daily Infographic has provided the web with knowledge and… Continue Reading

Trusted data and the future of information sharing

MIT Technology Review – How policy innovation is promoting data sharing and AI. “Data in some form underpins almost every action or process in today’s modern world. Consider that even farming, the world’s oldest industry, is on the verge of a digital revolution, with AI, drones, sensors, and blockchain technology promising to boost efficiencies. The market… Continue Reading

New Projection: Debt Limit “X Date” Could Arrive in September

“The Bipartisan Policy Center now forecasts a risk that the debt limit “X Date” — the date when the federal government can no longer pay all of its bills in full and on time — could occur in the first half of September. “This “X Date” risk falls earlier than BPC’s previous projection range, based… Continue Reading

Bitcoin’s energy consumption ‘equals that of Switzerland’

BBC – “Bitcoin uses as much energy as the whole of Switzerland, a new online tool from the University of Cambridge shows. The tool makes it easier to see how the crypto-currency network’s energy usage compares with other entities. However, one expert argued that it was the crypto-currency’s carbon footprint that really mattered. Currently, the… Continue Reading

Firms That Promised High-Tech Ransomware Solutions Almost Always Just Pay the Hackers

Pro Publica – “As ransomware attacks crippled businesses and law enforcement agencies, two U.S. data recovery firms claimed to offer an ethical way out. Instead, they typically paid the ransom and charged victims extra… The payments underscore the lack of other options for individuals and businesses devastated by ransomware, the failure of law enforcement to catch… Continue Reading

Following the Paper Trail of Federal Retirement Processing

WatchBlog: Official Blog of the U.S. GAO – “The Office of Personnel Management receives over 100,000 federal retirement applications each year. But the time it takes to process these applications can often be delayed. In fact, between 2014 and 2017, OPM didn’t meet its goal of processing most applications within 60 days. Today’s WatchBlog explores… Continue Reading

The One Percent Have Gotten $21T Richer Since 1989. The Bottom 50% Have Gotten Poorer.

New York Magazine – The Intelligencer: “…The Federal Reserve just released some data that makes the state of this alignment easier to gauge. In its new Distributive Financial Accounts data series, the central bank offers a granular picture of how American capitalism has been distributing the gains of economic growth over the past three decades.… Continue Reading

Fewer kids are riding and buying bicycles, and the industry is worried

Washington Post: Children’s bicycle manufactures and retailers are bracing for rough times ahead as market research shows fewer kids are riding bikes, while prices for cycling equipment are almost certain to increase because of the Trump Administration’s tariffs on Chinese-made goods. The number of children ages 6 to 17 who rode bicycles regularly — more… Continue Reading