Wednesday, November 19, 2014
“The surge in Iraq did not “win” anything. It bought time. It allowed us to kill some more bad guys and feel better about ourselves. But in the end, shackled to a corrupt, sectarian government in Baghdad and hobbled by our fellow Americans’ unwillingness to commit to a fight lasting decades, the surge just forestalled today’s stalemate.”
Tuesday, November 18, 2014
“Funds have poured into private equity and other so-called alternative investments. They have assembled portfolios that are way too complex, way too dependent on supposedly sophisticated (and high fee) investment vehicles. They have chased what is fashionable, they have overly diversified, and they have abandoned what should be their true calling: patient long-term investing in American corporations.”
Monday, November 17, 2014
“Under such circumstances, therefore, it is well to remember that we are in the middle of the greatest central bank fueled inflation in recorded history, and that this insidious inflation has been channeled into financial assets owing to the arrival of peak debt everywhere around the world.
Stated differently, households are saturated with debt and cannot borrow any more to spend on goods and services that have not been earned with prior production. So the massive tide of liquidity generated by the central banks never leaves the financial markets; it just cycles there, fueling the carry trades and every manner of speculation that modern technology-enabled bankers can concoct.”
Thursday, November 13, 2014
“The internet has disrupted media in much the same way it has manufacturing of smartphones or the IT business, says Ben Thompson — value has moved to the edges, to specialized creators and to discovery platforms, leaving media companies in the middle.
So what does the future look like for those media companies in the middle of the “smiling curve?” Thompson doesn’t say, but it probably isn’t going to involve a lot of smiling — instead, it presumably involves trying to squeeze less and less revenue out of a market where they are rapidly losing control, and trying to form relationships with platforms like Facebook without losing even more. How that will ultimately play out is anyone’s guess at this point.”
Wednesday, November 12, 2014
“In my experience, the single most important intervention is to eliminate late eating.
Many of my patients find that eating earlier alleviates their allergies, sinusitis, asthma, sleep apnea and diabetes symptoms. Although these conditions may not seem linked, postnasal drip and a cough are typical reflux symptoms that can easily be mistaken for something else.”
Tuesday, November 11, 2014
“Madondo did have an edgy point to make: so Pistorius didn’t intend to kill his lovely blonde girlfriend? So what. He did intend to kill the black man he thought was hiding behind that toilet door.
White South Africans often perceive violent crime as an almost genocidal threat to their survival. In truth, crime against whites is an insignificant part of the overall picture, and Steenkamp’s shooting was little more than a sideshow.
Mob killings were fairly common in the apartheid era, when Africans had little faith in white policemen and no mercy for those who collaborated with them.
Against this backdrop, all that can really be said about the Pistorius trial is that it distracted South Africa from its real problems. Those problems are deep and possibly intractable.
In the end, Pistorius was a parable about celebrity, not South Africa.”
Friday, November 07, 2014
“A senior Google vice president, Alan Eustace, has broken the world altitude record for a parachute jump set in 2012 by Austrian Felix Baumgartner.”
Thursday, November 06, 2014
Wednesday, November 05, 2014
‘Fernando Barbella takes a wry look at how our street signs may also have to change to take account of driverless cars, internet-connected contact lenses and solar roads.’
Tuesday, November 04, 2014
Monday, November 03, 2014
“As John Kenneth Galbraith observed: “People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.”This describes Japan’s Status Quo of cartels and central state technocrats perfectly.”
Friday, October 24, 2014
Thursday, October 23, 2014
“Because the people who become great – no matter their field or area of endeavor – are those who are willing to be uncomfortable over and over again on the way to mastery. If you can continually challenge your own preference for being good at things, for being competent – and be willing instead to be in that awkward place of “I don’t really understand this right now”…well, then the 21st century is yours for the learning of it.”