The quality of America’s public and elected officials seems to have declined sharply over the last 50 years. Glancing back at the Watergate scandal we wonder if the Epstein Saga will go the same way.
No Index
In Thrall to Foreign Gods
The days of consensual democracy are clearly over. We are in some kind of Banana Republic/Strongman phase. This was highlighted yesterday in a news item that showed the strongman signing another EO.
Is AI a ‘Super Sell’?
Of the entire GDP gain for last year — $174 billion — fully three quarters of it were from capital investment in the AI/high tech industry. Take it away…and most of the ‘growth’ vanishes.
Ugly Prices
Stock prices are ‘mean reverting,’ which is to say that they always go back to a ‘normal’ range. And when they are extremely overvalued as they are today, they have a lot of ground to cover (losses!).
Who led the Oligarchic Revolt of 375 BC?
That is the essential insight of the classics – that there may be progress in man’s material world, but not in his intellectual world. Ideas come and go… and then come again.
Banana Republic Prices
The US has become a banana republic without the bananas. The practical importance: shouldn’t its capital assets — its stocks and bonds, primarily — be marked down to banana republic levels?
