Hook, Line and Sinker

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Trevor Curwin
Trevor Curwin
22 days ago

As I’ve said on my Twitter header forever – “Humans do 2 things well: Tell stories & work in teams.” The antidote to a well-told story is a better-told story.

Desperate_Yuppie
Desperate_Yuppie
22 days ago

When you get CNN and the Washington Examiner to both bite on the same narrative that’s genuinely impressive. They captured pretty much the full spectrum of right to left with one message, which was basically “why aren’t you in favor of these workers keeping their jobs? What do you have against them?” Just brilliant.

Rafa Mayer
Rafa Mayer
22 days ago

Bread and Circus. I would be completely in favor of bringing back the Lions and setting them loose on the political class. Would make the battle of the septuagenarians significantly more interesting.

Brian Scaletta
Brian Scaletta
21 days ago

Why can’t I shake this feeling of Ponzi? If rates move off of 0%, it all comes down. If we don’t allocate more to risk, it all comes down. If the Fed doesn’t supply more liquidity, it all comes down. If the government doesn’t bail something out, it all comes down.

Tulip, South Sea, Mississippi … What should we call this one?

james stewart
james stewart
20 days ago
Reply to  Brian Scaletta

Bank smoothed treasury oil

Hubert Horan
Hubert Horan
21 days ago

All true. Two related notes. (1) MSM gullibility worsened as politicians (both parties) have hammered point that taxpayer aid was for “workers” while it was actually a ploy to give airline stock prices a quick boost (2) One of the less noticed impacts of extreme industry consolidation is that it eliminates all critical thinking in the trade press, since any outlet that doesn’t slavishly endorse the narrative can be cut off. As have been writing since April, its not just that ample public evidence contradicts the airline narrative, but after six months, absolutely no one within the industry dares challenge the narrative. See https://www.nakedcapitalism.com/2020/08/hubert-horan-the-airline-industry-collapse-part-3-recovery-expectations-were-always-dreadfully-wrong.html

James Miller
James Miller
20 days ago

I have been fuming for months over the ridiculous airline bailouts.

A neighbor of mine is a United Pilot. He hasn’t flown since March but is on full pay and just bought a 37 foot power boat so he has something to do. Meanwhile, I’m effectively paying his $200,000 salary through my taxes.

If we did not have the bailouts, the planes would still be there, the airports would still be there, the pilots would still know how to fly. The shareholders and bondholders might get wiped out, and the pilots might make $125,000 in the future, but who cares?

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