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China's Dystopian Tech Could Be Contagious
There's no reason the type of all-encompassing "social credit" scoring system being rolled out by Beijing couldn't be similarly employed elsewhere, writes urbanist Adam Greenfield for The Atlantic, while exploring the actual implications of living in such a society. The implementation of China's social credit system has been "piecemeal so far," but the Party has spent many years fine tuning what China expert calls "networked authoritarianism," with the social credit system arguably becoming the most comprehensive result of a multitude of repressive policies and systems.

Greenfield writes: "This end-to-end grid of social control is still in its prototype stages, but three things are already becoming clear: First, where it has actually been deployed, it has teeth. Second, it has profound implications for the texture of urban life. And finally, there’s nothing so distinctly Chinese about it that it couldn’t be rolled out anywhere else the right conditions obtain. The advent of social credit portends changes both dramatic and consequential for life in cities everywhere—including the one you might call home...

"As laid out in the proposal [that announced China's plans for the social credit system], the system’s stated purpose was to ride herd on corrupt government officials, penalize the manufacture of counterfeit consumer products, and prevent mislabeled or adulterated food and pharmaceuticals from reaching market. This framing connects the system to a long Confucian tradition of attempts to bolster public rectitude. The means was certainly novel, though, yoking together advanced machine-learning systems, online databases, municipal CCTV networks and the pocket-sized sensor platforms known as smartphones...

"The Chinese genius, if you can call it that, was to take credit scoring as a tool of social discipline to its logical conclusion, building a formal public-private partnership around it. This move extends dominion across the entire range of interactions any member of modern society is more or less compelled to pursue by the very style and structure of contemporary life."
otf  china  socialcredit  social  credit  privacy  awareness  asia  gfw 
4 days ago by dmcdev
The foolish strategies people often use to pay back credit card debt — Quartz
"For people with multiple credit cards, the best way to pay off credit card debt is simple. If you can’t pay the full balance for all the cards, pay the minimum monthly payment for each, and then devote the rest to repaying the card with the highest interest rate. Following this rule, you incur the least interest and save the most money."

Use the calculator at https://www.nerdwallet.com/blog/pay-off-debt/ to prove it.
behavioral  economics  irrational  credit  card  consumer  behavior  debt  payoff  calculator 
5 days ago by dandv
Barclays in U.S. set to join cryptocurrency credit card ban: report
Haha they don’t want “margin calls” #cryptocurrency #bank #wallstreet
crypto  currency  bank  credit  card  usa  ban  Q1  2018  global  Wallstreet 
9 days ago by csrollyson
S&P: What Factors Power A Rating On A Utility-Scale Battery Storage Project?
• Rating criteria generally similar to early days of solar
• Construction is viewed as minimally difficult however project management and contractors are a potential weak link
o Are suppliers replaceable/interchangeable? – Major credit positive
o How interchangeable? Can the same racks, etc be used? – Credit positive
storage  credit  finance 
9 days ago by ff4
Homebase owners may close up to 40 stores - BBC News
[first the supermarkets, then everyone else, also UK restaurant trade struggling, especially mid-market! anything above your payday takeout, also housing growth is slowing down thus DIY ] UK retailers are struggling in the face of rising inflation and fragile consumer confidence.

Several store chains have announced job cuts recently, including supermarket giants Tesco, Sainsbury's and Asda.

Homebase's rival, B&Q, last week said it was cutting 200 jobs at its head office in Hampshire as part of a cost-cutting drive. &! https://www.theguardian.com/business/2018/feb/05/uk-services-sector-growth-falls-hotels-restaurants-brexit - Demand weakens for services such as restaurants and hotels amid ongoing Brexit uncertainty
UK  Brexit  disposable  income  economy  discretionary  spending  growth  wage  Productivity  High  Street  Precariat  working  poor  poverty  trap  social  mobility  pay  rise  inflation  broke  household  debt  credit  card  leverage  recovery  secular  stagnation  history  GFC  Austerity  underinvestment  output  gap  HighStreet  Services  Service 
13 days ago by asterisk2a

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