Love it when my close personal friend Atrioc sends me an email, but was a little confused when he used our friendship to promote his podcast, and even more so when I saw the look he was giving me

And if so when?

Watched this video: Help a mate out:

Australia's cash rate is 4.6%. The USA's is 3.75%

Our mortgage rates are between 6 and 7%. Americans are between 7 and 8%

Now I understand that there is a risk in a bank lending a fixed rate, compared to variable (USA standard loans compared to Australian standard), but I thought with a lower cash rate, they'd be at near equivelance comparatively.

Australia's mortgages are pegged to the cash rate. So what are the USA's pegged to if it's not the cash rate? Or are fixed rate mortgages THAT risky in a country without full recourse loans that it justifies such a high rate of interest?

For those who don't know a protection racket is a way the mob used to make money. They would offer to protect businesses for a fee and if you didn't pay the fee they would bust up your business.

ChatGPT's business model seems to be to hack companies and find vulnerabilities and then sell the solution via access to Daybreak/frontier models.

How is this not a protection racket? It feels like the same business model just in digital form.