What is Permissible

By Rusty Guinn | June 24, 2020 | 6

The slow wave that has moved America’s largest asset owners from direct positions in American companies to indirect pools of passive ownership has been a good thing for costs and diversification. It has, however, contributed to our present breakdown in corporate governance.

The past revolutions to fix this have failed for predictable reasons. Future revolutions don’t have to.

It is time to take back your ownership.

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Self Assured Destruction

By Ben Hunt | May 30, 2020 | 31

Our leaders have botched the Covid-19 war, and we are defenseless against a now endemic disease.

15,000 to 20,000 Americans officially sick. 500 to 1,000 Americans officially dead.

Every day.

The free world does not easily survive a globally endemic Covid-19.

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A New Gilded Age

By Rusty Guinn | May 24, 2020 | 22

A Gilded Age isn’t an age of prosperity. It is an age of the narrative of prosperity, and narratives of prosperity are always top-down political narratives.

There is but one way to tear down top-down political narratives: action.

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ET In Full

A Truth That’s Told With Bad Intent

By Ben Hunt | May 14, 2020 | 37

A truth that’s told with bad intent
Beats all the lies you can invent.
– William Blake

Our narratives of COVID-19 are all lies.

They are lies of a particular sort, political narratives that have a nugget of truth within them, but are told with bad intent. They are told this way because it works. Because the nugget of truth hides a deeper, unpleasant truth. And a Big Lie.

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Bear Stearns and the Narratives of Systemic Risk

By Ben Hunt | April 23, 2020 | 15

The systemic risk question you need to ask yourself today is the same question you needed to ask in 2008.

What is the micro-level truth of the potential real-world shock, and does that micro-level truth threaten the common knowledge surrounding a levered business model and securitized asset class of enormous size?

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Inception

By Ben Hunt | April 14, 2020 | 14

We’re going to change the world, you know … you and me.

It won’t happen the way you think, because you think that someone is going to lead you. You think that someone is going to organize you. You think that someone is going to give you a top-down, political Answer in the form of something to march for or somebody to vote for.

Nope. We’re going to create a million points of failure for the system of sociopathic oligarchy. We’re going to create points of failure AT SCALE.

How? With the Narrative Machine.

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First the People

By Rusty Guinn | April 14, 2020 | 46

This is not a chronicle of errors and mistakes made during COVID-19.

This is the story about the inevitable, simultaneous failure of each of the institutions designed to operate in our interest.

It is the story of how we respond to fragility with resilience.

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Once in a Lifetime

By Ben Hunt | March 29, 2020 | 38

We are led by high-functioning sociopaths, in our politics and our economy, and nowhere is this more apparent than in our war against COVID-19. It’s not a left/right thing. It’s not a Republican/Democrat thing. It’s a power thing.

Enough. It’s time for the Pack to howl.

Empathy + Minimax Regret is the answer. Because 2 + 2 = 4.

Yes, this is a personal note. That’s what this war is for all of us … personal.

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Do The Right Thing

By Ben Hunt | March 19, 2020 | 28

I’m angry that I have to write this note about the airline industry and how to structure the bail-out of United, Delta, American and Southwest. But I must, because the raccoons and the high-functioning sociopaths are looking to get their private losses socialized and their private gains locked in.

Bailout the airlines and their rank-and-file employees? You bet.

Bailout the CEOs and Warren Buffett? Not a chance.

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ET Poll

Have you participated in a protest march in the past two weeks?

Archive Spotlight

Even When I Lie

November 28, 2018

The way I see it, there are three reasons a person becomes a liar: he believes that he must, he believes that he may, or he believes it serves a Greater Truth.

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ET Live! – 1.21.2020

January 21, 2020