China Developing World’s Most Massive Population Surveillance System

‘People who travel without a ticket, or behave disorderly or smoke in public area will be punished according to regulations.’

Imagine the sum of your existence shrunk to a score that is constantly being updated and affects every area of your life –your social and economic status, access to better schools and employment, a nicer apartment, access to newer rental cars, and even friendships. You might laugh it off and point out you have seen this one in that “Black Mirror” episode.

An episode in the third season of the British sci-fi series titled “Nosedive” is indeed about a world where people can rate each other in real time based on every interaction they have, and the score each one gets determine his quality of life. Relax, you may say, it’s totally fictional. But what if I tell you such a world  not only really exists, but is also much worse than the fictional one…?

>>> continue reading: China Developing World’s Most Massive Population Surveillance System

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What A Bunch Of Idiots!?

Tell me this isn’t crazy…

A few days ago the creator of the most famous consumer ‘credit score’ in the United States announced a major overhaul in how it rates borrowers.

Consumers live and die by this ‘FICO score’. A high FICO score means that it’s easy to obtain loans at lower interest rates.

And a bad FICO score (in theory) means that you have a history of not paying your debts… hence making it difficult to obtain loans.

Well it turns out there are tens of millions of people in the US who either don’t have FICO scores at all (i.e. NO credit history), or they have BAD credit.

So FICO decided that they would reinvent the way they calculate the scores– giving a big boost to people with bad credit.

Virtually overnight, people who have a history of not paying their bills will immediately be deemed creditworthy.

And poof… they’ll have access to more debt than ever before….

>>> continue reading: What A Bunch Of Idiots!?

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