Last days of...
As we enter the final act of summer, Hemingway captures the tenor of how 'what we take for granted' ebb away in The Sun Also Rises, "gradually, then suddenly."
Central banks: Why is central bank independence important and what happens when it is under attack? #atrifle
“For the past few decades, the meetings in Jackson Hole against the backdrop of Wyoming’s rugged mountains have come to embody the power and prestige of central bankers, with their debates on monetary policy transmission, quantitative easing and inflation dynamics.
But the economists listening to Powell at the Jackson Lake Lodge, which has been battling an influx of bats in recent weeks, are aware that the ascendancy of the technocrats is in danger of being thrown dramatically into reverse.”
Payments: Keep some cash under your mattress, says Dutch central bank. #atria
“The two-party payment system is so powerful and entrenched that even the most disruptive of the supposed “disruptors” — cryptocurrency and blockchain innovators — have resigned themselves to partnering with banks and the card brands to issue standard debit cards to connect their “Web3” crypto services to traditional merchants.”
Breakfast: McDonald’s Breakfasts Might Be a Pretty Solid Recession Indicator. #atrisk
“Award-winning Thai-American chef Pichaya "Pam" Soontornyanakij believes this is a timely conversation to have. "The all-you-can-eat breakfast buffet is a symbol of a certain era in hospitality, an era that celebrated abundance as luxury," she says. But luxury has evolved. "It's no longer about quantity or excess; it's about thoughtfulness, quality, and care – not just for guests but also for the planet."”
Reading: Enjoying this headline? You’re a rarity. #atrophy
“Some barriers to reading are relatively easy to remove. A striking example this week was Denmark, which announced the scrapping of its 25 per cent VAT rate on books, to address what culture minister Jacob Engel-Schmidt called a “reading crisis” in his country.
However, while initiatives by governments, charities and publishers can help, a broad-based revival of reading requires a turn in the social and cultural tide responsible for the long-term decline. Some optimists detect signs of this happening, with young people beginning to react against the pervasive intrusion of social media and its fragmentation of their leisure time. Although the evidence is anecdotal at this early stage, new readers, like existing ones, can only benefit from the enriching world of words.”
Chess: What is now dignified by the hopeful euphemism of Freestyle chess was popularised by that quintessential demon, Heresiarch and obliterator of his fans’ expectations and desecrator of their loyalty, Bobby Fischer. #atrocity
“ChatGPT-maker OpenAI has beaten Elon Musk's Grok in the final of a tournament to crown the best artificial intelligence (AI) chess player.
Historically, tech companies have often used chess to assess the progress and abilities of a computer, with modern chess machines virtually unbeatable against even the top human players.
But this competition did not involve computers designed for chess - instead it was held between AI programs designed for everyday use.
OpenAI's o3 model emerged unbeaten in the tournament and defeated xAI's model Grok 4 in the final, adding fuel to the fire of an ongoing rivalry between the two firms.”
ICYMI - Cultural criticism is at risk of erasure
“Over the years, albeit with no apparent relish, Borg would occassionally be spotted taking a televised amble down memory lane with his old rival John McEnroe, who, alongside everything else—music, art, tennis commentary, and punditry—maintained a busy life reminiscing about his earlier life. Sometimes it seemed as if the lucrative business of reminiscing was not just a full-time job but a full-time life as McEnroe rehearsed the key moments and told and retold the old stories, in his autobiography, Serious, in numerous documentaries, in the course of his match commentary and punditry for TV (hopping profitably between the BBC and an American channel in the course of the same day)…”
― Geoff Dyer, The Last Days of Roger Federer: And Other Endings
#149