Market Mad House

MasterCard’s actions doom signatures because there were 618 million MasterCard (MA) credit cards worldwide in 2nd Quarter 2018. In addition, there are 218 MasterCard credit cards in the United States, Statista estimates.

The lack of signatures shows MasterCard (NYSE: MA) has one of the world’s largest and most advanced payments platforms. For example MasterCard claims its payment network serves 2010 countries.

Unfortunately, I was not able to learn how transactions a second MasterCard’s network process. On the other hand, Visa (NYSE: V) claims to process 24,000 transactions a second.

Therefore, it is safe to assume that MasterCard processes around 24,000 transactions a second. I make this conclusion because MasterCard and Visa presumably uses technology with similar capabilities.

MasterCard’s actions doom signatures because there were 618 million MasterCard (MA) credit cards worldwide in 2nd Quarter 2018. In addition, there are 218 MasterCard credit cards in the United States, Statista estimates.

The lack of signatures shows MasterCard (NYSE: MA) has one of the world’s largest and most advanced payments platforms. For example MasterCard claims its payment network serves 2010 countries.

Unfortunately, I was not able to learn how transactions a second MasterCard’s network process. On the other hand, Visa (NYSE: V) claims to process 24,000 transactions a second.

Therefore, it is safe to assume that MasterCard processes around 24,000 transactions a second. I make this conclusion because MasterCard and Visa presumably uses technology with similar capabilities.

If it were implemented, the jobs guarantee would require government to lie its’ recipients, taxpayers, and voters. Recipients will be told they have a “job,” politicians will tell taxpayers and voters “it’s a job not welfare.”

I imagine an American jobs guarantee will work the same way. For example, it could force your public library to hire several people to shelve books. When they shelve all the books, the guarantee workers will sit around the library reading or playing games on the computers.

Furthermore, your city hall will have to hire more administrative workers under the guarantee. The guarantee workers will spend their days doing things like making copies, delivering mail, making coffee, filing paperwork, or playing League of Legends on a government computer.

I imagine that many government agencies will set up something like the New York Public Schools’ notorious rubber rooms for guarantee workers. To clarify, union rules make it virtually impossible for New York City to fire teachers.

In response, the city set up reassignment rooms; or rubber rooms, where incompetent teachers sat around all day doing nothing. They paid the teachers to sit and do nothing. The purpose of the rubber rooms was to keep bad teachers away from the kids.

Therefore, governments will set up rubber rooms for guarantee workers to keep them from interfering in government business. For example, a city government could set up a special “work detail” for guarantee workers picking up trash by hand.

The real battle over basic income will be the political one. Basic income advocates need to forget about the moral arguments and concentrate on the political battles.

Rand’s case, in particular, shows why arguments over basic income’s morality are meaningless. Reality shows that most people will accept basic income; regardless of their beliefs.

History teaches that basic income will succeed if we offer it to large numbers of people. For this reason we must concentrate on the political battles, not the philosophical or ideological battles.

The key to implementing basic income is electing legislative majorities dedicated to enacting it. History demonstrates that once a concept’s advocates have the political power the moral arguments are meaningless.

The real battle over basic income will be the political one. Basic income advocates need to forget about the moral arguments and concentrate on the political battles.

Rand’s case, in particular, shows why arguments over basic income’s morality are meaningless. Reality shows that most people will accept basic income; regardless of their beliefs.

History teaches that basic income will succeed if we offer it to large numbers of people. For this reason we must concentrate on the political battles, not the philosophical or ideological battles.

The key to implementing basic income is electing legislative majorities dedicated to enacting it. History demonstrates that once a concept’s advocates have the political power the moral arguments are meaningless.