Farhad Manjoo has a thought-provoking piece on tech companies staying private. This is a dynamic that Benedict Anderson recently highlighted in an Andreessen Horowitz presentation on the state of U.S. Venture Capital / Tech Funding that deservedly generated a lot of buzz (see: US Tech Funding). Both are worth reading if you’re into these sorts of things.
In a rare hour of silence I took to the blog to jot down some thoughts / questions that occurred to me while reading the article. (more…)
I believe that the policies we have undertaken have been meant to generate a robust recovery.1
Effective demand is dead in the water.2
Quantitative easing…is that, like, making math easier?3
Well, goodbye to all that. Until the next time, Quantitative Easing.
For normal people with more interesting lives, I imagine articles headlined with the words “quantitative easing” prompt a mild degree of nausea and / or disinterest. As for me, for the last six years4 I’ve found it hard to avoid reading pieces on the unparalleled series of unconventional monetary policies: QE 1, QE 2, Operation Twist, QE 3. So much juicing of the financial markets, so much time I will never have back, so many unintended consequences nobody can foresee. (more…)
Expanding prosperity contributed to the popularity of the doctrine [of harmony of interests] in three different ways. It attenuated competition for markets among producers, since fresh markets were constantly available; it postponed the class issue, with its insistence on the primary importance of equitable distribution, by extending to members of the less prosperous classes some share in the general prosperity; and by creating a sense of confidence in present and future well-being, it encouraged men to believe that the world was ordered on so rational a plan as the natural harmony of interests.1
Politics are made up of two elements — utopia and reality — belonging to two different planes which can never meet. There is no greater barrier to clear political thinking than failure to distinguish between ideas, which are utopia, and institutions, which are reality.2
Stocks are near their all-time highs and show few signs of correcting anytime soon; debt markets appear frothy; the VIX is low—the capital markets are telling us that we’re living in “the best of all possible worlds.”3 Even TV commercials show us people dancing on their decks while telling us “the fun is back!”
But in the real world, for a while now I’ve been nagged by this feeling of entropy in global affairs; that order and institutions are giving way to chaos and ungovernability. (more…)
OMG. Millennials are idiots. They put less than half of their savings in stocks. When they’re old, they’ll subsist on a cat food diet because they were terrible investors.
Reading this article on Vox.com raised my blood pressure and left me baffled/speechless.1 Conor Sen (@conorsen) asked me why, so I’ve pulled together some thoughts on why the piece was misleading.
Seven Ways a Vox.com Article Provided No Context