In short, the economic model of the second half of the 20th century is over. Increased issuances of debt no longer translate into increased economic growth. Instead, they produce wild asset price swings, casino style speculation, and epic bubbles and busts. Nonetheless, the technocrats continue offering up yesterday’s solutions with unabashed certainty.
One week after Dr. Drew Pinsky said, on his HLN show, that he is "Gravely concerned" about Hillary Clinton's health, CNN executive vice president Ken Jautz announced Thursday that "Dr. Drew and I have mutually agreed to air the final episode of his show on September 22."
In what's been aptly described as the "cultural libertarian" movement, young millennials from a variety of backgrounds have united based on a fervent disdain for those that believe there are boundaries to what’s deemed “acceptable” speech - a hatred of authority; and a love of freedom and mischief.
Board-certified medicine specialist and TV personality Dr. Drew Pinsky has come out and said that he is “gravely concerned” about presidential candidate Hillary Clinton’s health, pointing out that treatment she is receiving could be the result of her bizarre behaviors.
Just as there’s a scheme to pay old investors with new investors money (aka a Ponzi.) There’s another part of the scheme that rarely gets talked about: i.e.,The narrative that fuels the scheme to begin with.Much like the original structure which involves money, this too needs an ever-growing amount of gullible, willing participants. However, the currency here is narrative.
People are assuming there’s only one way to fight a war today of global proportions. We're not in that camp. We believe it will come monetarily – not military. At least at first. For once it takes place all bets are off as to what happens next.The obvious first mover advantage for China (and all its current allies) would be to use the rhetoric coming out of the current U.S. political arena, along with current, as well as proposed monetary policies via the Fed, ECB, and Japan.
As far as we can tell, U.S. Treasury investors suffer the same cognitive dissonance that the broad U.S. populace takes with them to the shore each July 4th as they celebrate Independence.They believe they live in the greatest country ever conceived. They believe they experience more freedom, opportunity, and prosperity than their cohorts in other nations. They believe their system of government provides for their representation. Yet at the same time they sense that something’s off.
"Our attention has been diverted. China has embarked on a stealth devaluation of the renminbi. Its new trade-weighted currency basket has fallen 10% since just before its initial August 2015 devaluation (white line in chart below) and it has continued to decline since January even as the Rmb/dollar has stabilised."
Remember, bad news is good news. But don’t forget, good news is bad news. Alas, this is how capital is apparently efficiently allocated to its highest and best use in the year 2016. Surely, there must be a Darwin Award for this grand achievement.
In “The Valley” the last 7 or 8 years has seen a morphing of true business fundamentals into a place of pure financially adulterated fantasy. Here is where the story changed from “Something built that customers love and will pay for," into “Build something that can give the illusion VC’s want to see and hear so they can pay for the right to then sell that illusion to Wall Street and we all get rich.” True business metrics or morals be damned.
The debate over Internet privacy and the responsibility social media companies should carry in protecting user privacy never ceases to spark controversy — among both users and tech insiders. But while Facebook, one of the most popular social media networks, struggles with accusations of news suppression and even fraud, a new report on the network’s microphone settings is reigniting past fears of surveillance that were never fully addressed.
Perhaps the world will have to wait it out to finally be graced with leaders who are willing to stand by their convictions and make hard, maybe even unpopular, choices. Such leaders might have to risk sacrificing everything political to be crowned the next true champions of conviction, giving us all a shot at a once again storied fate. Where does that leave us? Apparently angry. Very, very angry.