81 karma · joined November 3, 2022
package main
import "fmt"
type MyError struct{}
func (m *MyError) Error() string {
return ""
}
func main() {
var err error = nil
var myErr *MyError = nil
fmt.Println(err == myErr) // this is false
} import "fmt"
type MyError struct{}
func (m *MyError) Error() string {
return ""
}
func myFunc() *MyError {
return nil
}
func main() {
var err error
err = myFunc()
if err == nil {
fmt.Println("No Error")
} else {
fmt.Println("Error") // This prints
}
}Similarly, you could prove a speaker doesn't eavesdrop by proving it performs a finite set of operations, none of which are eavesdropping.
Regarding the guard keyword, the author's proposal doesn't make sense. The guard call comes after the function call that produces the error, so it's not clear what is being guarded. I guess it's the error being wrapped in the guard message, but explaining that clearly in plain English is quite hard. I agree that context is important however. But maybe the Go team is finally ready to admit that stack traces are more useful than error messages. I'd be fine to know that, for example, an error occurred opening a file and having the language provide a full stack trace of where the error happened. I can do without the custom crafted error messages.
The Fed speculates that the reason for the lack of liquidity is due to uncertainty about the economic outlook and uncertainty about the interest rates. The evidence they point to is that liquidity (defined by the bid/ask spread and the amount of available bonds at the best price) is lower for short-term bonds compared to long-term bonds. Short-term bonds are more affected by interest rate changes, so market participants are much more cautious about transacting in a large number of bonds at once. Rather, they split large purchases into many small purchases to ensure they're not losing money due to sudden changes in the price.
Scroll to any point in the document and you will see an interesting facet of the economy.
Just as an example: both Facebook and Snapchat (and I'm sure others) have tried adding games to their platform. Both efforts have failed because you can get a better gaming experience by playing a standalone game. If you want to play with a friend, you can message them and say "hey, let's play X." There is limited upside to playing in Facebook or Snapchat, and a lot of downsides (limited catalog, performance restrictions, etc.)
One exception to this is any feature that requires exposure to an audience. Social media is very good at exposing people to content. Something like Facebook marketplace can be successful because sellers want their listings to be seen by people and buyers want to go to places that have the most sellers.
1) Everyone agrees that spam should be "censored" because (nearly) everyone agrees on what spam is. I'm sure (nearly) everyone would also like to censor "fake news", but not everyone agrees on the definition of fake news, which is why the topic is more contentious than spam.
2) Having a "1A mode", where you view an unmoderated feed, would be interesting, if only to shut up people who claim that social media companies are supposed to be an idealistic bastion of "free speech." I'm sure most would realize the utility is diminished without some form of moderation.
I think you’re falling for the no true Scotsman fallacy. We started this conversation talking about whether or not the Fed’s goal is higher unemployment. I presented an argument, in the Fed’s own words, that they plan on lowering inflation by weakening the labor pool. And your response is “that’s not really a goal.” I disagree and, and I don’t see a productive way forward for this conversation. At the very least, you should accept that this is a valid interpretation of the Fed’s own words, and not just some conspiracy theory being peddled.
Let's say I have a goal of running a marathon, so I decide to start jogging every day. Is my daily jogging a side-effect of my goal to run a marathon? I wouldn't say so. Rather, jogging every day is an explicit course I've set out on with the hopes of achieving my main goal. Daily jogging is a sub-goal of the main goal, if you will. This logic can be applied to the Fed. The main goal is to lower inflation, and the chosen course of action (i.e. the sub goals) are to lower economic growth and to increase unemployment.
A side-effect would be something akin to knee pain. I can't jog without hurting my knees, but having pain in my knees isn't something I explicitly set out to do.
A side-effect of Fed policy would be something like the gilt crises in the UK. Higher US rates increase yields on UK bonds indirectly. But that isn't something the Fed is actively setting out to do.
> So I will answer—I will answer your question directly, but I want to start here today by saying that my main message has not changed at all since Jackson Hole. The FOMC is strongly resolved to bring inflation down to 2 percent, and we will keep at it until the job is done. So the way we’re thinking about this is, the overarching focus of the Committee is getting inflation back down to 2 percent. To accomplish that, we think we’ll need to do two things, in particular: to achieve a period of growth below trend; and also some softening in labor market conditions to foster a better balance between demand and supply in the labor market.
Powell says (paraphrasing slightly): "In order to get inflation under 2%, we need to do two things. 1. achieve a period of low growth, and 2. soften the labor market." Low growth and higher unemployment aren't simply side-effects of Powell's policy. These two things are explicitly stated goals.
> The labor market continues to be out of balance, with demand for workers substantially exceeding the supply of available workers. The labor force participation rate showed a welcome uptick in August but is little changed since the beginning of the year. FOMC participants expect supply and demand conditions in the labor market to come into better balance over time, easing the upward pressure on wages and prices. The median projection in the SEP for the unemployment rate rises to 4.4 percent at the end of next year, ½ percentage point higher than in the June projections
He's expecting the act of raising interest rates to increase unemployment to 4.4%. He's doing this to bring balance to supply and demand for labor, to ease upward pressure on prices.
He is also asked directly when he will know when to stop:
> So I will answer—I will answer your question directly, but I want to start here today by saying that my main message has not changed at all since Jackson Hole. The FOMC is strongly resolved to bring inflation down to 2 percent, and we will keep at it until the job is done. So the way we’re thinking about this is, the overarching focus of the Committee is getting inflation back down to 2 percent. To accomplish that, we think we’ll need to do two things, in particular: to achieve a period of growth below trend; and also some softening in labor market conditions to foster a better balance between demand and supply in the labor market.
He directly says he's waiting to see softening of the labor market before stopping the rate hikes.