The Generals and a $30 trillion Retreat
More than half of the stock market wealth is unsupported by real output. The total market cap of US stocks is around $60 trillion. Look for a $30 trillion loss when the bubble finally deflates.
No Index
The Sound and the Fury
The numbers do not at all mean what most people think they mean. But at least they were supposed to be misleading on a non-partisan basis…giving false signals to both Republicans and Democrats alike
Too Much of a Big Nothing
So much investment has gone into AI that anything less than spectacular results will look like failure. One estimate is that the Mag 7 would have to make $600 billion in revenue to make sense.
Fire and Ice
Central planning is always a mistake, in the sense that it makes most people worse off. It is not a mistake for those who do the planning. The feds and their cronies get more money and more power.
Crackpot Economics
Crackpot Experiment Number One gave the feds greater control of our money, with the inevitable undesirable results. Crackpot Experiment Number Two has the feds taking over trade.
The Information Problem
The internet is a mess — filled with lies, distortions and time wasters. For every page of the periodic table, there are thousands of pages of fake news, claptrap science, and kitten videos.
