on wealth
Trading By The Numbers
The first thing about modern markets, the thing that must never be forgotten, is that most of the “trading” which goes on in them is untouched by human hands – or brains. To an overwhelming extent, modern markets are “automated”.…
The Hazard Of Financial Morality
We have all heard of “moral hazard”. It is something that was said to have kept Treasury Secretary Hank Paulson awake at night when he was agonizing over how to thaw out the frozen inter-bank credit system in mid-late 2008. …
Blaming “The 1%” is like blaming “Zionists”, “Blacks” or “Gays”
Some people like, to make all the rules and tell others what to do.
They make it their way, so they always win, and the others always lose.
Street gangs and madmen How they wage their private wars
…
Talk Is Cheap – Action Is Prohibitively Expensive
Mr Geithner wants his European counterparts to help him maintain the facade that “liquidity” equals creating “money” out of thin air through the issuance of new debt paper and that the financial markets can be kept happy by covering their…
You Can’t Kill Capitalism…It’s Already Dead
When I was a child, I was proud of my heritage and the fact that I counted among my distant relations none other than Otto Von Bismarck, the inventor of the modern welfare state as we know it…
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