Critical Crossroads for SUI: Bulls Stage a Comeback as Cryptocurrency Faces Crucial Resistance Level
Renowned crypto analyst Crypto Busy has recently brought the cryptocurrency SUI into the spotlight, shedding light on a critical development that has captured the attention of the cryptocurrency industry. In a comprehensive analysis, Crypto Busy emphasized that SUI is currently navigating a pivotal juncture, confronting a significant resistance level.
The crypto community is now on high alert, closely monitoring SUI's behavior as it approaches this crucial resistance level. The central question at play is whether SUI will overcome the odds and successfully break through this resistance, or if it will face rejection.
Factors Driving SUI's Recent Surge: Beyond Bitcoin in Total Value Locked
SUI's recent ascent positions it among the top crypto gainers, driven by several pivotal factors highlighted by Crypto Busy. A noteworthy achievement for SUI is its elevation beyond Bitcoin in Total Value Locked (TVL), a feat attributed to its backing by Mysten Labs.
According to on-chain data from DefiLlama, a leading DeFi protocol tracking site, SUI currently holds the 13th global rank in TVL. This accomplishment has sparked optimism within the SUI community, fueling a significant surge in the token's price.
In a striking trend, while SUI's Total Value Locked continues to rise, Bitcoin's TVL experiences a gradual decline in tandem with its recent price drop. Data from DefiLlama, dated January 14, unveiled the remarkable development that SUI surpassed Bitcoin in Total Value Locked, marking a significant turning point in the crypto landscape.
SUI's Current Trading Metrics and Market Outlook
As of the latest data, SUI is trading at $1.29, reflecting an 8.22% decrease in price over the past 24 hours. However, the cryptocurrency has witnessed an impressive 52.78% surge in value over the last 7 days. The 24-hour trading volume for SUI stands at $528,078,679.
The global cryptocurrency market is experiencing a robust comeback, with a 0.84% surge in the global market cap within the last 24 hours, reaching a total market capitalization of $1.69 trillion. In the midst of this surge, SUI grapples with a pivotal resistance challenge, adding an extra layer of intrigue to the evolving dynamics of the cryptocurrency industry.
The Anticipation and Future Trajectory of the Cryptocurrency Landscape
As SUI faces this critical resistance challenge, the entire cryptocurrency industry is captivated. Enthusiasts eagerly await unfolding developments that will shape the next chapter in the dynamic realm of digital assets. The palpable anticipation among observers underscores the intricate dynamics and potential shifts that could define the future trajectory of the cryptocurrency landscape. In this fast-evolving space, SUI's journey becomes emblematic of the broader industry's resilience and capacity for transformation.
0 notes
Good Omens, staying skeptical, and the mystery and the lie at the heart of Gravity Falls
-Neil Gaiman, 29 June 2023
I recently came across this post by @apathetic-revenant, which goes into extensive detail about a whole secret meta lie generated by Alex Hirsch, creator and head writer of Gravity Falls, midway through the show.
It went like this: the show was very focused on mysteries, codes, ciphers, etc, and early on a character discovered a mysterious journal with an unknown author, and this drove the plot. There were clues placed in the show so that people could solve the journal author's identity, or more probably so that it would all make sense in hindsight after the big reveal. However, the show ended up with a larger-than-expected fandom who started organizing online in a way the creators hadn't expected or planned for, and they were worried everyone would collectively solve the mystery too easily, too soon, and the suspense and appeal of the story gradually unfolding would be lost.
So they took a fake BTS photo that appeared to reveal the journal's author and "leaked" it online. To give it credibility, the show's creator posted "Fuming right now" and then deleted the post soon after, once they were certain it had been seen and screenshots taken. The Gravity Falls fandom then stopped trying to solve the mystery, as they believed the answer had already been revealed. It was a solution "targeted toward delaying that group problem-solving, without actually affecting the experience of any individual person watching the show."
Ok, Good Omens fandom. Are we Gravity Falls all over again? Are we also experiencing meta lies?
Is it possible that Amazon's marketing department has just released a new promotional video about Aziraphale & Crowley's "timeline of interconnectedness" (discussions here and here ) where they honestly:
got several of those timeline dates wrong, including labeling the entirety of seasons 1 and 2 as belonging to the same year?
mixed all the season 1 and 2 clips together so they're completely interconnected and out of the order they were presented to us so far?
didn't consult with Neil Gaiman for even a moment to be sure they had their facts straight? (Or literally anyone else who's spent years working on it? Or even someone who has just watched it once while paying attention?)
didn't understand the way most series tell a story by moving through time in a realistic linear fashion?
When Neil said today that "time is fine" in response to questions about the timeline of interconnectedness video, was he trying to misdirect the fandom away from the mystery that's clearly hidden throughout both seasons (and especially season 2)?
The Good Place seems suddenly more relevant than I'd imagined:
Neil has told us that his Tumblr posts aren't canon. He's also said:
"Never trust the storyteller. Only trust the story."
"Writers are liars, my dear, surely you know that by now? And yet, things need not have happened to be true. Tales and dreams are the shadow-truths that will endure when mere facts are dust and ashes, and forgot."
-Both quotes are from The Sandman [link]
So here's my plea to whichever part of the fandom might read this: Stay Skeptical. It's wonderful to talk to Neil about his characters, the worlds he's created, his writing process, his views on world events, his sense of humor, his kindness, his compassion and empathy, and his good advice & encouragement for the entire range of the human experience. I respect him very much, and I'm thrilled he's here on social media talking to all of us. (Except he doesn't have social media, obviously. He's like Schrödinger's Social Media Neil-cat.)
I'm looking forward to all the surprises I'm certain are in store for us (and Aziraphale and Crowley) in Good Omens season 3. I trust Neil (and Terry!) to deliver our beloved characters to a very satisfying ending. But I don't trust Neil to honestly answer all of our questions on social media - and neither should you.
Especially not when he's already blamed obvious season 2 changes to the Bentley on the "lighting" (as just one example).
With lots of thanks to the members of the @ineffable-detective-agency - including @bbbitchvibbbez, @kimberleyjean, @maufungi, @noneorother, @theastrophysicistnextdoor, and @thebluestgreen for all their excellent fact-checking, ideas, and discussions!
Interested in diving further into all the Good Omens mysteries? I have more posts plus Clues and metas from all over the fandom, here.
59 notes
·
View notes
Rent control works
This Saturday (May 20), I’ll be at the GAITHERSBURG Book Festival with my novel Red Team Blues; then on May 22, I’m keynoting Public Knowledge’s Emerging Tech conference in DC.
On May 23, I’ll be in TORONTO for a book launch that’s part of WEPFest, a benefit for the West End Phoenix, onstage with Dave Bidini (The Rheostatics), Ron Diebert (Citizen Lab) and the whistleblower Dr Nancy Olivieri.
David Roth memorably described the job of neoliberal economists as finding “new ways to say ‘actually, your boss is right.’” Not just your boss: for decades, economists have formed a bulwark against seemingly obvious responses to the most painful parts of our daily lives, from wages to education to health to shelter:
https://popula.com/2023/04/30/yakkin-about-chatgpt-with-david-roth/
How can we solve the student debt crisis? Well, we could cancel student debt and regulate the price of education, either directly or through free state college.
How can we solve America’s heath-debt crisis? We could cancel health debt and create Medicare For All.
How can we solve America’s homelessness crisis? We could build houses and let homeless people live in them.
How can we solve America’s wage-stagnation crisis? We could raise the minimum wage and/or create a federal jobs guarantee.
How can we solve America’s workplace abuse crisis? We could allow workers to unionize.
How can we solve America’s price-gouging greedflation crisis? With price controls and/or windfall taxes.
How can we solve America’s inequality crisis? We could tax billionaires.
How can we solve America’s monopoly crisis? We could break up monopolies.
How can we solve America’s traffic crisis? We could build public transit.
How can we solve America’s carbon crisis? We can regulate carbon emissions.
These answers make sense to everyone except neoliberal economists and people in their thrall. Rather than doing the thing we want, neoliberal economists insist we must unleash “markets” to solve the problems, by “creating incentives.” That may sound like a recipe for a small state, but in practice, “creating incentives” often involves building huge bureaucracies to “keep the incentives aligned” (that is, to prevent private firms from ripping off public agencies).
This is how we get “solutions” that fail catastrophically, like:
Public Service Loan Forgiveness instead of debt cancellation and free college:
https://studentloansherpa.com/likely-ineligible/
The gig economy instead of unions and minimum wages:
https://www.newswise.com/articles/research-reveals-majority-of-gig-economy-workers-are-earning-below-minimum-wage
Interest rate hikes instead of price caps and windfall taxes:
https://www.npr.org/2023/05/03/1173371788/the-fed-raises-interest-rates-again-in-what-could-be-its-final-attack-on-inflati
Tax breaks for billionaire philanthropists instead of taxing billionaires:
https://memex.craphound.com/2018/11/10/winners-take-all-modern-philanthropy-means-that-giving-some-away-is-more-important-than-how-you-got-it/
Subsidizing Uber instead of building mass transit:
https://prospect.org/infrastructure/cities-turn-uber-instead-buses-trains/
Fraud-riddled carbon trading instead of emissions limits:
https://pluralistic.net/2022/05/27/voluntary-carbon-market/#trust-me
As infuriating as all of this “actually, your boss is right” nonsense is, the most immediate and continuously frustrating aspect of it is the housing crisis, which has engulfed cities all over the world, to the detriment of nearly everyone.
America led the way on screwing up housing. There were two major New Deal/post-war policies that created broad (but imperfect and racially biased) prosperity in America: housing subsidies and labor unions. Of the two, labor unions were the most broadly inclusive, most available across racial and gender lines, and most engaged with civil rights struggles and other progressive causes.
So America declared war on labor unions and told working people that their only path to intergenerational wealth was to buy a home, wait for it to “appreciate,” and sell it on for a profit. This is a disaster. Without unions to provide countervailing force, every part of American life has worsened, with stagnating wages lagging behind skyrocketing expenses for education, health, retirement, and long-term care. For nearly every homeowner, this means that their “most valuable asset” — the roof over their head — must be liquidated to cover debts. Meanwhile, their kids, burdened with six-figure student debt — will have little or nothing left from the sale of the family home with which to cover a downpayment in a hyperinflated market:
https://gen.medium.com/the-rents-too-damned-high-520f958d5ec5
Meanwhile, rent inflation is screaming ahead of other forms of inflation, burdening working people beyond any ability to pay. Giant Wall Street firms have bought up huge swathes of the country’s housing stock, transforming it into overpriced, undermaintained slums that you can be evicted from at the drop of a hat:
https://pluralistic.net/2022/02/08/wall-street-landlords/#the-new-slumlords
Transforming housing from a human right to an “asset” was always going to end in a failure to build new housing stock and regulate the rental market. It’s reaching a breaking point. “Superstar cities” like New York and San Francisco have long been priced out of the reach of working people, but now they’re becoming unattainable for double-income, childless, college-educated adults in their prime working years:
https://www.nytimes.com/interactive/2023/05/15/upshot/migrations-college-super-cities.html
A city that you can’t live in is a failure. A system that can’t provide decent housing is a failure. The “your boss is right, actually” crowd won: we don’t build public housing, we don’t regulate rents, and it suuuuuuuuuuuuuuucks.
Maybe we could try doing things instead of “aligning incentives?”
Like, how about rent control.
God, you can already hear them squealing! “Price controls artificially distort well-functioning markets, resulting in a mismatch between supply and demand and the creation of the dreaded deadweight loss triangle!”
Rent control “causes widespread shortages, leaving would-be renters high and dry while screwing landlords (the road to hell, so says the orthodox economist, is paved with good intentions).”
That’s been the received wisdom for decades, fed to us by Chicago School economists who are so besotted with their own mathematical models that any mismatch between the models’ predictions and the real world is chalked up to errors in the real world, not the models. It’s pure economism: “If economists wished to study the horse, they wouldn’t go and look at horses. They’d sit in their studies and say to themselves, ‘What would I do if I were a horse?’”
https://pluralistic.net/2022/10/27/economism/#what-would-i-do-if-i-were-a-horse
But, as Mark Paul writes for The American Prospect, rent control works:
https://prospect.org/infrastructure/housing/2023-05-16-economists-hate-rent-control/
Rent control doesn’t constrain housing supply:
https://dornsife.usc.edu/pere/rent-matters
At least some of the time, rent control expands housing supply:
https://onlinelibrary.wiley.com/doi/full/10.1111/j.1467-9906.2007.00334.x
The real risk of rent control is landlords exploiting badly written laws to kick out tenants and convert their units to condos — that’s not a problem with rent control, it’s a problem with eviction law:
https://web.stanford.edu/~diamondr/DMQ.pdf
Meanwhile, removing rent control doesn’t trigger the predicted increases in housing supply:
https://www.sciencedirect.com/science/article/pii/S0094119006000635
Rent control might create winners (tenants) and losers (landlords), but it certainly doesn’t make everyone worse off — as the neoliberal doctrine insists it must. Instead, tenants who benefit from rent control have extra money in their pockets to spend on groceries, debt service, vacations, and child-care.
Those happier, more prosperous people, in turn, increase the value of their landlords’ properties, by creating happy, prosperous neighborhoods. Rent control means that when people in a neighborhood increase its value, their landlords can’t kick them out and rent to richer people, capturing all the value the old tenants created.
What is life like under rent control? It’s great. You and your family get to stay put until you’re ready to move on, as do your neighbors. Your kids don’t have to change schools and find new friends. Old people aren’t torn away from communities who care for them:
https://ideas.repec.org/a/uwp/landec/v58y1982i1p109-117.html
In Massachusetts, tenants with rent control pay half the rent that their non-rent-controlled neighbors pay:
https://economics.mit.edu/sites/default/files/publications/housing%20market%202014.pdf
Rent control doesn’t just make tenants better off, it makes society better off. Rather than money flowing from a neighborhood to landlords, rent control allows the people in a community to invest it there: opening and patronizing businesses.
Anything that can’t go on forever will eventually stop. As the housing crisis worsens, states are finally bringing back rent control. New York has strengthened rent control for the first time in 40 years:
https://www.nytimes.com/2019/06/12/nyregion/rent-regulation-laws-new-york.html
California has a new statewide rent control law:
https://www.nytimes.com/2019/09/11/business/economy/california-rent-control.html
They’re battling against anti-rent-control state laws pushed by ALEC, the right-wing architects of model legislation banning action on climate change, broadband access, and abortion:
https://www.nmhc.org/research-insight/analysis-and-guidance/rent-control-laws-by-state/
But rent control has broad, democratic support. Strong majorities of likely voters support rent control:
https://www.bostonglobe.com/2023/03/07/metro/new-statewide-poll-shows-strong-support-rent-control/
And there’s a kind of rent control that has near unanimous support: the 30-year fixed mortgage. For the 67% of Americans who live in owner-occupied homes, the existence of the federally-backed (and thus federally subsidized) fixed mortgage means that your monthly shelter costs are fixed for life. What’s more, these costs go down the longer you pay them, as mortgage borrowers refinance when interest rates dip.
We have a two-tier system: if you own a home, then the longer you stay put, the cheaper your “rent” gets. If you rent a home, the longer you stay put, the more expensive your home gets over time.
America needs a shit-ton more housing — regular housing for working people. Mr Market doesn’t want to build it, no matter how many “incentives” we dangle. Maybe it’s time we just did stuff instead of building elaborate Rube Goldberg machines in the hopes of luring the market’s animal sentiments into doing it for us.
Catch me on tour with Red Team Blues in Toronto, DC, Gaithersburg, Oxford, Hay, Manchester, Nottingham, London, and Berlin!
If you’d like an essay-formatted version of this post to read or share, here’s a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
https://pluralistic.net/2023/05/16/mortgages-are-rent-control/#housing-is-a-human-right-not-an-asset
[Image ID: A beautifully laid dining room table in a luxury flat. Outside of the windows looms a rotting shanty town with storm-clouds overhead.]
Image:
ozz13x (modified)
https://commons.wikimedia.org/wiki/File:Shanty_Town_Hong_Kong_China_March_2013.jpg
Matt Brown (modified)
https://commons.wikimedia.org/wiki/File:Dining_room_in_Centre_Point_penthouse.jpg
CC BY 2.0
https://creativecommons.org/licenses/by/2.0/deed.en
118 notes
·
View notes