This story is a little out of character for our blog, but I found this article very interesting. The jobs of factory and office workers have been under assault for years. Factory robotics have displaced millions of workers worldwide. What’s interesting about this development is that now robotics, automation, jeopardizes the incomes of a highly [...]
How Did The Crisis Happen?
We attempt to analyze and explain how and why we find ourselves in the greatest financial crisis since the Great Depression
While it is easy and often enjoyable to distract oneself with daily drudgery such as who will bomb whom (if not so enjoyable for those on the receiving end of said bombs), the key word in the sentence is just one: “distract” and as Kyle Bass pointed out correctly, the best, and most “economy-boosting” of [...]
Mainstream economists have filled the minds of most Americans with economic myths that are constantly reinforced by the media and repeated on the streets. These myths are erroneous at best, sometimes based on half truths. Many of them are just false. We hear and read them every day: “inflation” is caused by rising oil prices; [...]
Global financial markets are awash in hundreds of trillions of dollars worth of derivatives. By some estimates, the total amount exceeds one quadrillion dollars. Derivatives played a central role in the 2008 credit crisis, as they had a brutal multiplying effect on the magnitude of the carnage. As a bad asset was written down, oftentimes [...]