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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It’s the one thing that Donald Trump and Rachel Maddow can agree on … “who the hell cares about the budget?”
If you don’t see that every government in the developed world is about to embark on a massive deficit spending spree, with modern-day ziggurats constructed in every burg and hamlet … you’re just not paying attention.
I know, I know … it’s me being mean to Neel Kashkari again.
Sorry, not sorry. Belittlement and scorn is the only weapon we have against the creeping ensorcellment of the Long Now.
So I downloaded and compiled every SEC Form 4 filing that former Boeing CEO Dennis Muilenburg has ever made, to answer one simple question:
How much money did Dennis Muilenburg suck out of Boeing over the last ten years?
We are emerging from the year end, so the language shared across financial media articles is performance language. How did stocks, markets, benchmarks, funds and strategies perform in 2019?
Frequent readers will recognize Gell-Mann Amnesia as a favorite topic here at Epsilon Theory.
I feel like the Billy Crystal character in Analyze This all the time. There’s always some mob boss politician or central banker or CEO or asset manager pinching my cheek and telling me that it’s all gonna be okay, that I’ve just gotta understand how things are.
My god, I am so tired of having my cheek pinched. I am so tired of being nudged in such an artless, heavy-handed way. I am so tired of being told that 2 + 2 = 5.
Every day we run the Narrative Machine on the past 24 hours of financial media to generate a list of the most linguistically-connected and narrative-central individual stories. We call this The Zeitgeist and we use it for inspiration or insight into short-form notes that we publish a couple of times a week to the website. To receive …
The Long Now wouldn’t be complete without the Long War. And as with every other component of the Long Now, its supporting memes are intensely cynical.
If you don’t see that there is one set of rules for the very rich and another set of rules for everyone else … if you don’t see that there is an unaccountable political power that accrues to the very rich in both big social ways and in small personal ways … well, you’re just not paying attention.
Trucking is dying and truckers are suffering along with it. The fact that the latter is the framing being chosen for the issue should pique your interest.
Regardless of your personal views pro or con, if you don’t see that a powerful narrative backlash is forming against corporate management enrichment, you’re just not paying attention.
Sometimes you really have to wonder how on earth an article makes its way into the Zeitgeist. Sometimes it’s best not to know.
It’s so weird that everyone who would throw an unholy temper tantrum at – gasp! – rent-controlled apartments is just fine with rent-controlled money.
I’m a fan of FedEx the company and Fred Smith the founder. I think they are both crown jewels of Western capitalism.
But if I hear another lecture from Fred Smith and his fellow billionaires on trickle-down tax cuts and the “benefits to the United States economy, especially lower and middle class wage earners”, I’m going to lose it.
Jamie Dimon is the rake.
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. Leave aside the question of whether you care about wealth concentration or believe in any socially deleterious effects it …
I’m old enough to remember when Donald Trump, the President-elect of the United States, and Masayoshi Son, CEO of Softbank, had an impromptu press conference in the Trump Tower lobby to trumpet the FIFTY THOUSAND JOBS and FIFTY BILLION DOLLAR INVESTMENT that Softbank would be bringing to the US.
All based on a powerpoint deck.
I believe it is impossible to separate the modern management practice of self-enrichment through massive levels of stock-based comp from the modern management practice of investor placation through massive levels of stock buybacks … without regulating one or the other practice.
But I’m all ears for any ideas.
The missionaries are out, and guess what? They want you to do a lot of trading and portfolio repositioning. How thoughtful!
Today’s Zeitgeist brought back a blast from the past, an early encounter with the distinction between narrative and other, more common, measures of what the crowd thinks.
If Carl Icahn calls up the CEO of GM and asks her how the UAW talks are going, it is illegal for Mary Barra to tell him anything that she does not also tell everyone else.
If Carl Icahn calls up the President of the United States and asks him how the China talks are going, it is perfectly legal for Donald Trump to tell him whatever he likes without obligation to tell anyone else.