1) Unity.A common enemy (not usually the state, but a person of low moral character, an ineffectual leader, and/or a charlatan) galvanizes good libertarians to band together and fight against that person’s specific tyranny or fight to gain better direction for the movement. This is a period of great unity and friendship, as minor differences […]
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: […]
