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Cake day: June 19th, 2023

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  • It’s not X turning into Y when it comes to evolution. There were all kinds of different dinosaurs, that evolved I to all kinds of different niches. Most of those then went extinct due to rocks falling from the sky, or the entirety of India turning into a huge volcano etc.

    So it’s not that a T-Rex turned into a chicken, it’s that T-Rexs lived alongside other dinosaurs that developed feathers and filled more niches etc. those that survived eventually became birds. (Have you ever seen an Emu up close?!? No wonder the Australians lost to them 🤣)

    Disclaimer: I have no specific knowledge. Also, remember this happened over (billions? hundreds of millions) of years.

    Other comments about just not noticing feathers are valid too.














  • They are upping the rates on their fixed rate deals ( 5.84% for the next two years for example).

    Because these rates can’t be changed once agreed the banks forecast what they think the cost of their borrowing will be over the next two years (based on the central bank/gov interest rates) and set a customer facing rate that is competitive but will make them good money.

    They have been setting their rates with the assumption that the government set interest rates will fall sharply this year. That would mean they could give customers an interest rate that’s lower than the current government rate now because in a years time the government rate will have fallen and the customer would still be paying the fixed (higher) rate they agreed. (Making the bank good money)

    However, inflation is proving more entrenched than expected and the government isn’t reducing interest rates like expected. The banks are therefore not offering those lower interest deals to customers as they’re not expecting to make it back later.