The biggest systemic risk to markets right now. Will it be the pin to pop the “everything bubble?” The yen carry trade has long been the financial world’s favorite magic trick: borrow yen at 0%, sell it for dollars, then plow the proceeds into whatever shiny thing is booming that month: U.S. tech stocks, crypto, […]
They say the more audacious the lie, the more people are likely to believe it. Combine this truism with the fact that human beings prefer to move in herds (i.e. “go with the flow”), and you have some pretty interesting societal norms that develop over time. Now add one more interesting factoid to the equation: […]
T. S. Eliot’s The Hollow Men and Sean Dempsey’s America, 2023 both confront the spiritual and moral decay of civilization, but they do so from opposite emotional poles. Eliot’s poem is elegiac: a whispered lament for a world hollowed out by inertia and disillusionment. His “stuffed men” drift without agency, trapped in the shadow between […]
