Did the “Solution” Solve the Problem, Or Did It Just Make Somebody Rich?
Here’s our mythology in a nutshell: human needs are limited but human desires are unlimited, and the economy is fueled by smart people motivated…
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The Risk of AI Isn’t Skynet
The risk that AI transitions from Servant to Master is dramatically appealing–Skynet!–but the real risks are in the mundane realms of the socio-economic order….
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The Inevitable Drift Down from “Can’t Lose” Owning Stocks to “Can’t Win”
Only those who experienced the heady euphoria of the late 1990s dot-com bubble in tech stocks know what the shift from “can’t lose” confidence…
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The Last Generation
A recent “50 years ago today“ column in the town newspaper reported that the town’s last blacksmith was retiring, and he couldn’t find anyone…
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Yes, Everything Crashed–Just Not For You
A dedicated cadre of readers is devoted to reminding me that I’ve been wrong since 2009, as stocks, housing and GDP have all soared….
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Anatomy of AI Cold Turkey
No, this title is not AI slop: AI cold turkey means there’s no AI monkey on your back: you don’t snort it, mainline it,…
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The Revolution Trilogy
The research I’ve done over the past three years has changed my mind about the potential for a social revolution in the United States….
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ZIRP or ZAP? Will the Fed’s ‘Zero-Interest Rate Policy’ Return, and Will It Work?
Correspondent Scott suggested I consider the possibility that the powers that be will respond to a weakening of the economy by pushing interest rates…
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Could a Rip-Your-Face-Off Rally in the Dollar Trigger a Global Financial Crisis?
We all know the end-game when currencies are inflated as an expedient measure to stave off insolvency: devaluation eventually has consequences as the debauched…
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Anti-Progress, reverse leverage and the hot-potato economy.
Anti-Progress: what’s presented as “progress’ is actually the opposite of real progress. Reverse leverage: costs are cut to save $1 but due to the…