FREEDOM IS SLAVERY IGNORANCE IS STRENGTH WAR IS PEACE. – George Orwell, “1984” SECRETS ARE LIES SHARING IS CARING PRIVACY IS THEFT. – Dave Eggers, “The Circle”…
One of the more painful lessons in investing is that the prudent investor (or ‘value investor’ if you prefer) almost invariably must forego plenty of…
If you like your health plan, you can keep your health plan. – Barack Obama Of course, one objective of both traditional and nontraditional policy…
You don’t know what fear is. But you’ll see. It’s catching, it’s catching like small pox! And once you get it, it’s for life! So…
Recent papers written by Fed functionaries and the attendant media attention serve as a reminder of the academic and bureaucratic capture of the Fed. More…
I know. You know I know. I know you know I know. We know Henry knows, and Henry knows we know it. We’re a knowledgeable…
There are two sides to the Epsilon Theory coin — looking at market-shaping current events through the lens of game theory and history, and looking…
The central banks of the West announced today that their temporary swap lines would be made permanent. Like QE itself, the meaning of this emergency…
There are known knowns; there are things we know we know.We also know there are known unknowns; that is to say, we know there are…
Mr. Incredible: You mean you killed off real heroes so that you could *pretend* to be one? Syndrome: Oh, I’m real. Real enough to defeat you! And…