Whee!
As an empire becomes more costly…less productive…and more top-heavy, growth slows and corruption speeds up. It is as if the rascals see the ship sinking…and loot it before it goes down.
Commentary
No More Mr. Nice Guy
If the pattern of history holds up, people will go along with almost any public fraud as long as the system appears to be working. But then, when the system runs out of money, more muscle is needed.
The Coming Global Monetary Reset
We stood on the veranda Wednesday night…about 8:30 in the evening. A rectangle of thick, smoked glass…taken from a welder’s screen…was held up to our eyes. Then, turning to the sun, we saw a rare celestial spectacle — an eclipse of the sun.
Wall Street’s Odor of Decay
Every bubble eventually makes eye contact with its pin. The AI craze is facing all the prickly thorns that typically doom an investment mania.
Vanishing Midnight Visions
Now, we have a source not just of info, but of judgement — knowledge itself. LLMs (Large Language Models) are clever. They will do your thinking for you. No more ‘mistakes,’ right?
A trickle of disappointing profits
That is why we spend so much effort trying to avoid the Big Loss. They’re always bigger than you think. You have $1 million in your account. The market goes down and you lose money.
