Every day, Epsilon Theory runs the world's financial news through natural language processing-based cluster analysis to identify the most on-narrative stories. We scan for those with the most similarity to all other stories as well as those with the most interconnectivity to multiple different key topics.
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Is murder bad? Hmm, I dunno. What are the chances I will be caught and what price will I pay if that happens? If the odds are high enough and the price steep enough, then yeah, I guess THAT would be bad. But the act of murder itself? I mean, I’m sure whoever I murdered – if I were to murder someone, that is, because I really don’t think you can prove that I did – was getting in the way of something that was very important to me. When you really think about it, they were doing the bad thing! Why do you ask?
Welcome to the world of commodity trade finance.
“He who controls the spice controls the universe.”
The world’s principal supplier of semiconductors – the spice of OUR global empire – is now Taiwan.
Thanks a lot, Intel. Thanks a lot, Bob Swan. Thanks a lot, Jack Welch. Thanks a lot, all you Wall Street wizards of financialization.
Taiwan is now Arrakis. And we WILL fight over it.
Everyone is in a tizzy about day traders and Robinhood. “Ooooh, they’re going to have such a hangover when the bubble pops.”
Pffft. They’ll be fine.
The investors facing a hangover are small family offices, plied with endless offerings of fee-heavy SPVs and SPACs by multi-billion dollar asset managers.
Both Trump and Biden have proposed $2 trillion spending plans for next year, confirming exactly what we wrote last December. To the dollar. To the word.
We can’t always write tomorrow’s headlines today. But we do try!
Sometimes good news comes from unexpected places.
And sometimes it’s best just to go with it.
Market propaganda used to be an art form, I tell you! What happened to us?
The transformation of capital markets into political utilities happened.
There is practically no information in knowing that everybody is talking about something. There is some information in knowing that everybody is using the same language to talk about something.
But there is a lot of value in knowing that people and publications with no underlying connection are simultaneously inspired to use the same language to talk about different angles of the same issue.
We all know someone who is in urgent-but-not-emergency need of some medical procedure that can’t be scheduled while Covid-19 is storming the hospital ramparts.
I’m one of them.
What’s happening with the Bureau of Labor Statistics with recent employment data reports is an intentional, political carelessness that supports status quo cartoons of control.
It’s not a Democrat thing and it’s not a Republican thing.
It’s a power thing.
Since June 4th 1989, the Chinese government has tried to erase any record of the Tiananmen Square massacre from history.
Can a Tiananmen Square massacre happen in the United States? I doubt it.
Can a Tiananmen Square rewriting of history happen in the United States? Absolutely. It already is.
The Hertz bankruptcy is not a story of financialization by an entrenched, self-dealing management team.
It’s a story of financialization by an entrenched, self-dealing minority ownership.
There’s light at the end of the pandemic tunnel, and there’s light at the end of the pandemic narrative tunnel. No, on second thought I think that’s an oncoming train called “election season.”
Take away a great performer’s live audience, and you take away their source of narrative power.
That’s true for American Idol. That’s true for Warren Buffett.
It’s also true for Donald Trump.
We are now in the Flooz.com phase of the “how is COVID-19 going to change the world forever” process. Be careful out there.
I, for one, am delighted to learn of the “Through No Fault of Their Own” exemption to stock market risk.
One day, and soon, there will be a reckoning. Time to choose a side.
Sometimes investors and corporate executives will beg for a miracle to bring mostly dead assets back to life. That’s OK. But we don’t have to give it to them. And we don’t have to treat their requests as news in themselves.
The NYC healthcare system – one of the finest in the world – is about to be slammed beyond anything they have ever seen. ER visits and patient testing is where it begins. It moves from there through the system, ending in ICU wards. The process is like a python swallowing a pig, except this isn’t a pig. It’s a whale.
For the first time our federal government is treating the fight against this virus like the war that it is.
Is it pathetic and sad and a corrupt betrayal of the public trust that it took this long? Absolutely.
But now here we go. And there is no country in the world that mobilizes for war more effectively than the United States.
After a Countrywide earnings call in 2008, I trusted NO ONE in government or Wall Street to tell the truth about the mortgage crisis.
And that’s the way I feel about COVID-19 today.
To receive a free full-text email of The Zeitgeist whenever we publish to the website, please sign up here. You’ll get two or three of these emails every week, and your email will not be shared with anyone. Ever. I have been under withering (if modestly deserved) friendly fire recently for posing a riddle and sitting on the …