Reality

Just 3 Things: Stocks "Are Not Magical Lottery Tickets"

"It’s not just volatility; it’s valuation. Instead of magical lottery tickets that automatically and necessarily reward those who wait, stocks are ownership units of businesses. That’s banal, I know, but everyone seems to forget it. And it means equity returns depend on how much you pay for their future profits, not on how much price volatility you can endure."

US Government Caught Massively Fabricating Student Loan Default Data

Many more students have defaulted on their college loans than the U.S. government previously revealed. This stunning admission came last Friday, when the Education Department released a memo revealing that it had overstated student loan repayment rates at most colleges and trade schools. The explanation? the problem resulted from a "technical programming error."

What Can Americans Learn from Chinese Government Propaganda?

We live in a world like no other in human history. We’re mercilessly bombarded by intense and sophisticated propaganda virtually 24/7, whether it be from government officials, media outlets or multi-national corporations with endless budgets. The barrage is relentless, and unless you feel like ditching it all and moving into a cave, pretty much inescapable. For those of us dedicated to living on the outside, the only offense is a good defense, and a good defense requires understanding.

A Foreign Nation Did Interfere In A US Election...In 1980

It was October and the Democratic Party’s presidential candidate was faltering in the polls after the Democratic National Convention. The Republican Party’s presidential candidate began negotiating with a foreign government to cook up a scheme to embarrass the Democratic candidate. The scheme was successful and the Democratic candidate went on to lose the election to a Republican candidate who was feared by many for his unorthodox stance on several domestic and foreign issues...

Nothing Is Real: When Reality TV Programming Masquerades As Politics

"There are two ways by which the spirit of a culture may be shriveled. In the first - the Orwellian - culture becomes a prison. In the second - the Huxleyan - culture becomes a burlesque." Indeed, Donald Trump may be the smartest move yet by the powers-that-be to keep the citizenry divided and at each other’s throats, because as long as we’re busy fighting each other, we’ll never manage to present a unified front against tyranny in any form.

Jamie Dimon: "The Euro Zone May Not Survive"

Speaking to Bloomberg TV in Davos, JPM CEO Jamie Dimon said “the euro zone may not survive,” and added that "what went wrong is going wrong for everybody, not just going wrong for Britain, but in some ways it looks like they’re kind of doubling down."

Here's Why America's Drug War Has Been An Epic Failure

If the goal is to put an end to the illicit drug trade, the federal government is embracing the very opposite of what they ought to, allowing their attempts to restrict drugs to empower black market entities taking advantage of anti-drug laws. Increasing the budget of law enforcement agencies and adding to the ever-growing burden on the U.S. taxpayer is not going to do anything to fix it.

The Dallas Pension Fiasco Is Just The Beginning

The recent blow-up of the Dallas Police and Fire Pension System was entirely predictable. The combination of overpriced financial markets, inadequate contributions and overly generous pension promises mean dozens of US local and state government pension plans will end up in the same situation.