If you were a smart guy like MicroStrategy CEO Michael Saylor and you thought a stagflationary tsunami of enormous proportion was going to wash over the US economy regardless of who wins in November, what would you be doing right now?
I think you might be doing whatever you can to get liquid in the global reserve currency without spooking the marks.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
The cure for the cancer of gun culture and police culture is not to be found in reform laws around guns and police, but in reform ideas around culture, ideas that create a new dimension of American society that rejects LARPing and LARPers alike.
Inflation
What made Bitcoin special is nearly lost, and what remains is a false and constructed Narrative that exists in service to Wall Street and Washington rather than in resistance.
The Bitcoin narrative must be renewed. And that will change everything.
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Crypto
Recent Notes
Ghost in the Machine, Part 1
The way out is through the door. Why is it that no one will use this method? ― Confucius (551 – 479 BC) Tanzan…
Catch – 22
Four times during the first six days they were assembled and briefed and then sent back. Once, they took off and were flying in formation…
The Clash of Civilizations
Thomas Cole, “The Course of Empire: Destruction” (1836) In the emerging world of ethnic conflict and civilizational clash, Western belief in the universality of Western…
Now There’s Something You Don’t See Every Day, Chauncey
Narrator: Well, today we find our heroes flying along smoothly… Rocket J. Squirrel: Flying along smoothly? Bullwinkle J. Moose: You’re just looking at the picture…
Narrative Uber Alles
Yesterday the Wall Street Journal ran a front page story titled “OPEC Sees Less Demand for Its Oil in 2015”, as well as another article…
We Now Return to Our Regularly Scheduled Programming
Hilsenrath Analysis: Friday’s Jobs Report Assures Global Central Banks Going in Two Directions ― Wall Street Journal, December 5th, 9:59a ET Earlier today I tweeted that “I…
Signs and Portents
Young nanny: Look at me, Damien! It’s all for you. [she jumps off a roof, hanging herself] – “The Omen” (1976) When one has…
The Unbearable Over-Determination of Oil
Market outcomes are always overdetermined, which is a $10 word that means if you added up all of the likely causes and their likely percentage contribution to the outcome you would get a number way above 100%.
Nowhere is this more true than the price of oil.
Mike Tyson: Master Game Theorist
Everyone has a plan until they get hit in the mouth. – Mike Tyson My long-term strategy turned into a 12-hour strategy. – “Survivor” contestant…
Wherefore Art Thou, Marcus Welby?
Seek not the favor of the multitude; it is seldom got by honest and lawful means. But seek the testimony of few; and number not…
Calvin the Super Genius
People think it must be fun to be a super genius, but they don’t realize how hard it is to put up with all the…
Hey Spike
The strong do what they can, while the weak suffer what they must. — Thucydides, “The History of the Peloponnesian War” (395 BC) Global growth…
Going Gray
Everything under the sun is in chaos. The situation is excellent. – Mao Zedong (1893 – 1976) Forget it, Jake. It’s Chinatown. – Chinatown (1974)…
Best of List
I’ll have a new full-length Epsilon Theory note out early next week (“Going Gray”), but wanted to pass along two background points. First, a replay…
Finest Worksong
Take your instinct by the reinsYou’d better best to rearrangeWhat we want and what we needHas been confused, been confused– REM, “Finest Worksong” (1987) The…
The Game of Thrones and the Game of Markets
Two items for the mid-week. First, an invitation to attend a Salient Webinar I’ll be presenting next Thursday, September 18th at 2pm ET, titled: “The Game…
The Ministry of Markets
– Actual conversation as I left a client meeting with a Salient colleague last Friday and we checked our phones… Colleague: Wow, looks like the…
The Name of the Rose
If names be not correct, language is not in accordance with the truth of things. ― Confucius, “The Analects of Confucius” (551 – 479 BC)…
An Ice Bucket Dilemma
Something on the lighter side from Epsilon Theory today, as summer winds downs here in the last week of August. Most of us have seen videos galore…
One Little Old Russian Convoy
You know what I’ve noticed? Nobody panics when things go “according to plan”. Even if the plan is horrifying. If, tomorrow, I tell the press…