No Free Lunches
To learn more about Epsilon Theory and be notified when we release new content sign up here. You’ll receive an email every week and your information will never be shared with anyone else.
The Latest From Epsilon Theory
This commentary is being provided to you as general information only and should not be taken as investment advice. The opinions expressed in these materials represent the personal views of the author(s). It is not investment research or a research recommendation, as it does not constitute substantive research or analysis. Any action that you take as a result of information contained in this document is ultimately your responsibility. Epsilon Theory will not accept liability for any loss or damage, including without limitation to any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Consult your investment advisor before making any investment decisions. It must be noted, that no one can accurately predict the future of the market with certainty or guarantee future investment performance. Past performance is not a guarantee of future results.Statements in this communication are forward-looking statements. The forward-looking statements and other views expressed herein are as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and there is no guarantee that any predictions will come to pass. The views expressed herein are subject to change at any time, due to numerous market and other factors. Epsilon Theory disclaims any obligation to update publicly or revise any forward-looking statements or views expressed herein. This information is neither an offer to sell nor a solicitation of any offer to buy any securities. This commentary has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Epsilon Theory recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
“Perhaps most scary, is it allows legislators to act without worry about where their self-interested spending eventually goes.”
And that is at the root of crony capitalism……elites screwing the pubic and presenting the bill to the government.
Reminds me of Indonesia under Soeharto……authoritarian and extremely corrupt, where crony capitalism was THE way of life.
Nobody paid anywhere close to their real taxes.
Made no sense when there was always the ‘hidden tax’ of bribes every body had to pay to get anything done….
In reference to Pete Cecchi’s No Free Lunch fake outrage by Senators must be all show at suddenly discovering at the Powell/Mnuchin testimony the “$454 billion CARES Act wasn’t really just $454 billion. It is to be leveraged up by factor of 10 to 1 into a $4.54 trillion bailout for Wall Street. The $454 billion is designated by Fed’s SPVs as “loss absorbing capital,” meaning taxpayers will eat the 1st $454 billion in losses”. And, no one in Congress knew before voting on it? https://wallstreetonparade.com/2020/05/senators-express-outrage-at-hearing-over-mnuchins-sneakiness-with-500-billion-of-taxpayers-money/
For many, many years now, taxation has had nothing to do with the budget at the Federal level and everything to do with the behavior of the taxpayers. It’s like the drain at the bottom of the fiat system bathtub. Breathe…
Welcome to the long now
Continue the discussion at the Epsilon Theory Forum