Live from Potemkin

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Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it.

But for whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world.


Social network under fire but staffers show no signs of pressure [Fox News]

Most Potemkin Villages are not about malicious deception.

In other words, most are not displays intended to convey a lie that is only recognized as such by one party, like the imaginary town of Rock Ridge, built to prevent the would-be atrocities of the Number 6 Dance later on. On the contrary, most of these elaborate set-pieces are lies constructed to maintain common knowledge that is convenient in one way or another to everyone. Everyone walks away getting to tell the story they want. It’s a sort of clear eyes / full hearts thing, but for pathological liars and politicians (your brain probably just inserted the Mark Twain quip that felt too on-the-nose to me here, so just pretend I wrote it).

But when that common knowledge starts to break down, you start seeing weird things. This article is a weird thing. The author flits effortlessly between genuine impressions that employees are ‘happy’ and skeptical side-eye at tough topics being brushed off. If the whole piece seems awfully confused about how much bullshit Facebook is shoveling and what can be surmised from that, well, that’s because it is.

I don’t know how the Big Tech narrative has changed since we observed that “FANG” had become a negatively tinged concept, although we will be spending more time on the topic. But in the widening gyre of 2019 US electoral politics, having one armed tied to the “biased opponents of free speech” narrative and another to the “excessively powerful corporations representing interests of the ultra-wealthy” narrative doesn’t sound like a recipe for a fun few years.

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The Daily Zeitgeist

The Only Winning Move

By Rusty Guinn | July 19, 2019 | 2 Comments

It’s privacy and big tech again in today’s Zeitgeist, which is all about mutually assured surveillance. And for Epsilon Theory, it hits home. I think it will hit home for you, too.

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We’re Gonna Need a Bigger Boat

By Ben Hunt | July 15, 2019 | 0 Comments

Financialization is not a mean-reverting phenomenon. It’s too good of a gravy train for Wall Street, corporate management and the White House to stop now. So they won’t. Like any self-respecting Great White shark, the Nudging State and the Nudging Oligarchy never stop swimming. They never stop eating.

Want to survive these financialized waters if you’re potential shark food? You’re gonna need a bigger boat.

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When Did You Stop Beating Your Wife?

By Ben Hunt | July 12, 2019 | 1 Comment

“De Blasio’s ‘pay parity’ hypocrisy” is a feature article in today’s NY Post, and a central article in today’s media Zeitgeist.

Dig a little deeper into the “scandal”, and you learn that the “evidence” is complete horseshit.

It’s an article specifically designed to manipulate someone like me … someone who is VERY predisposed to believe the worst about Bill de Blasio because I dislike his politics SO MUCH.

It’s a rage engagement, one of two primary forms of Fiat News used to win the Game of You.

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The Upside Down

By Ben Hunt | July 9, 2019 | 1 Comment

Everything is topsy-turvy in the Upside Down of Stranger Things. That’s the Big Baddie in the picture above, known as the Mind Flayer.

Financial media is a Mind Flayer, too, especially when it comes to coverage of crypto and tech companies.

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Raking it in

By Rusty Guinn | July 8, 2019 | 0 Comments

A few months ago, we noted how important it had become for public figures and corporations to control their own cartoon, lest someone control it for them. Well, now that advice has itself become the narrative. Don’t say you weren’t warned.

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Here We Go Again

By Ben Hunt | July 2, 2019 | 1 Comment

“You just recently hours ago met with the Chinese president, Xi Jinping,” Carlson said. “Are you closer, do you think after that meeting, to a trade deal?”

“I think so,” Trump replied. “We had a very good meeting. He wants to make a deal. I want to make a deal. Very big deal, probably, I guess you’d say the largest deal ever made of any kind, not only trade.”

He just can’t help himself. And neither can we.

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