Gambling

Frontrunning: December 12

  • Parties Make Final Push Ahead of Dramatic Alabama Senate Race (WSJ)
  • Oil hits two-and-a-half year high on pipeline shutdown, stocks take breather (Reuters)
  • Alabama drama nears an explosive end (The Hill)
  • Moore, Jones Expose Rural-Urban Divide That Defines Alabama Race (BBG)
  • The Force Behind Bitcoin’s Meteoric Rise: Millions of Asian Investors (WSJ)

In Defense Of Bitcoin Hoarding

"In Internet slang, they are called the HODLers, the people who are clinging to their Bitcoin and refusing to spend it. Instead, they just refresh their wallet apps, feeling richer by day while deferring consumption. Many of these burgeoning millionaires live like paupers..."

Market Goes 'Full Bitcoin'

"The artificiality of stock prices has accelerated in recent years with the domination of passive investment strategies..."

The Mother Of All Irrational Exuberance

"... relative to today's casino madness and the Goldman fairy tale hockey stick, Alan Greenspan circa April 2000 looks like a model of sobriety by comparison. So if that was Irrational Exuberance back in April 2000, what we have now is surely the mother thereof..."

Stockman Slams "The Awesome Recovery" Narrative

"In the face of blatant dangers and even existential threats, the denizens of the Acela Corridor whistle past the graveyard with alacrity. So doing, they turn a blind eye on virtually all that contradicts the awesome recovery narrative, the indispensable nation conceit and the Washington can Make America Great Again (MAGA) delusion, among countless other fantasies."

Why Australia's Economy Is A House Of Cards

"For over a quarter of a century our economy mostly grew because of dumb luck... As a whole, the Australian economy has grown through a property bubble inflating on top of a mining bubble, built on top of a commodities bubble, driven by a China bubble....Unfortunately for Australia, that “lucky” free ride is just about to end..."

Frontrunning: November 13

  • Trump, Duterte Strike Up a Friendship, Sidestep Thorny Issues (WSJ)
  • Strong earthquake hits Iraq and Iran, at least 332 killed (Reuters)
  • GE’s New CEO to Focus on Power, Aviation, Health (BBG)
  • GE Slashes Dividend Amid Restructuring (WSJ)
  • Uber board strikes agreement to pave way for SoftBank investment (Reuters)
  • World's Top Tech Giants Amass $1.7 Trillion in Monster Year (BBG)

"Google & Facebook Are 1984" - Tax Them 'Til They Bleed

"As Google, Facebook and the CIA are ever more entwined, these companies become so important to what ‘the spooks’ consider the interests of the nation that they will become mutually protective...The world has never seen such technologies. We are simply not prepared for any of this."