The Boston area, including Cambridge, escaped the Great Financial Recessional of 2007–2010 unscathed. As a grumpy boomer, I feel it should pay for its chutzpah in the next downturn. I may have to pound sand. The Boston area is once again reinventing itself.
This story told in triangles. I’ve made up some names for them.
The attributes of these triangles are as follows:
Boston’s most important resource is the intellectual capital…
I expected crashes last fall (2020). Didn’t happen.
I read my summary piece last year, where I reference the many pieces I wrote during 2020. I see no need to update anything.
I didn’t expect that the government would extend rent and mortgage forbearance for this long. Or extend Pandemic Unemployment Assistance. Or continue buying securities. In some ways they were the humane thing to do. But they have to end at some point.
My reading of history is that such heavy-handedness, no matter how well-intentioned, ends in revolt. …
Like many bubbles before it, the current stock market bubble is likely to drain away more slowly than it inflated. As always, there will be short, sharp corrections down followed by short relief rallies, before onc…
If only Groucho were alive today. "That's what I thought would save me and if you look at the charts you think it would have...but 'jumping anaconda!' it didn't!"
The psychology that prevents people from getting out of their debts or over-leveraged investments is stronger and more deadly than the psychology that got them in them to begin with.
There are so many single points of potential failure, like the Fed becoming THE world's ONLY REAL money market fund. One day people will wake to a market turned off by various circuit breakers. It will make history. There will be war.
I like to spread joy and optimism wherever I go.
I didn’t realize how much I missed New York City until I started watching Louis Rossmann ride his electric bike through my old neighborhoods. Years ago, when he began looking to rent space for his computer fixing business, he got hooked on the Kafkaesque world of storefront real estate.
Louis often shows up with his girlfriend, Erica. She loves him. She never states the obvious, like “Louis, the only difference between what we’re looking at, and a bathroom in a run-down bar, is the latter has a urinal on the wall.”
He loves nothing better than sidestepping human poop on…
This story was inspired by Jared A. Brock’s “Gold is Dead (And Honest Investors Know it)” I agree with everything he wrote. Indeed, I agree so much I bought some gold*.
He’s right, gold is not easy to buy and even harder to sell. It doesn’t feed anyone. Or heat their home in winter.
Governments are more likely to confiscate gold than buy it.
But if gold is such a bad investment, why do governments and banks make it so difficult? What are they afraid of?
Remember when Disney was a for-profit church of wholesome values? (Founded by artists affected by the death and carnage of two World Wars?) Probably not, which is why I wrote this, boring as it is — because someone must write Disney’s epilogue, or is this its obituary?
The last time an American had a real sense of war’s horrors was in 1973, the end of the U.S. involvement in Vietnam.
Bob Iger, Disney’s CEO, now 72, was one-and-twenty, barely old enough to understand life’s tragedies. …
Owning nothing apparently makes you free, and happier. It doesn’t matter if you’re trying to raise a family, or want to live in a good school district. We should all simply give up our desires to own any kind of property. We should become a nation of renters, because land lords and property managers will take such good care of us and never raise our rents.
I wrote the comment you quoted and first THANK YOU! Like you, I believe (?) I write to get people to have fun thinking. Agree. Disagree. Doesn't matter.
Money, or economics, is a complex subject that is trivialized when it's simplified into two types, "the rich" and "us workers". How many books have you read on economics? Not saying you have to. Only explaining why someone like me would be frustrated by someone theorizing about subjects many have spent their lives explaining. I agree with you there is a HUGE wealth equality problem. I believe we're headed for WWIII. …
What’s inflation? The first answer is: when Apple dongles cost more today than yesterday.
The second answer: Venmo dollars that are worth less today than yesterday.
The third answer: when more money is chasing cream puffs than yesterday.
The forth answer: when you need more money today…to buy the same boring cup of coffee you bought yesterday.
(If you’re still reading this you need to get a life.)
Answer Five. When you were warned not to go buying tons of stupid shit, with FREE money from the GoVERrnMeNT who, by the way, you were warned not to elect because they’d…
Fiat currencies are based on nothing but trust and the desire to produce. If everyone decides to live on chickens, beans and veggies from their yard tomorrow, one couldn't use their money to go out and buy a car because no one is making them.
The bigger question for UBI isn't where the money will come from, it's what effects will it have on who does what for whom.
Anyway, as it is, people do want to hunt, gather and produce so money is an efficient way exchange value. BTW, I encourage anyone to read David Graeber's "Debt: The First…
karl marx junior
Enjoyed this article! Yes, history repeats and repeats and repeats... Inspired me to write a this story. https://maxrottersman.medium.com/my-86-year-old-mother-is-proof-universal-income-wont-stop-anyone-from-spending-their-money-on-cfd2917f9f6b