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Did Anyone Do Even a Minimal Check on the Sensationalist Bitcoin Electrical...
Check the context before uncritically accepting sensationalist conclusions. Let's start with a primer on how to write a sensationalist story that can be passed off as "journalism:"1. Locate...
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The Asymmetry of Bubbles: the Status Quo and Bitcoin
Shall we compare the damage that will be done when all these bubbles pop? Regardless of one's own views about bitcoin/cryptocurrency, what is truly remarkable is the asymmetry that is applied to...
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The Internecine Deep State Conflict Moves to Stage Two
It now seems evident that the Neoliberal Camp of the U.S. Deep State is highly vulnerable on an individual basis. I tend to notice things like a year-old blog entry suddenly getting thousands of page...
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The Path to Impeachment
What constitutes an impeachable offense? Yesterday in The Internecine Deep State Conflict Moves to Stage Two I suggested that the conflict was heating up, a move confirmed by former Trump advisor...
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Stock Market 2018: The Tao vs. Central Banks
The central banks claim omnipotent financial powers, and their comeuppance is overdue. I will be the first to admit that invoking the woo-woo of the Tao as the reason to expect a reversal of the stock...
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The Cost Basis of our Economy is Spiraling Out of Control
What will it take to radically reduce the cost basis of our economy? If we had to choose one "big picture" reason why the vast majority of households are losing ground, it would either be the...
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A Radical Critique of Universal Basic Income
This critique reveals the unintended consequences of UBI. Readers have been asking me what I thought of Universal Basic Income (UBI) as the solution to the systemic problem of jobs being replaced by...
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What Is Money? (Yes, We're Talking About Bitcoin)
Good ideas don't require force. That describes the Internet, mobile telephony and cryptocurrencies. What is money? We all assume we know, because money is a commonplace feature of everyday life. Money...
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Misunderstanding the Economics of Robotics
Robots are only cost-effective in the narrow niches of commoditized tasks. In the view of Universal Basic Income (UBI) advocates, substituting robots for human labor will not only free virtually all...
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Marx, Robotics and the Collapse of Profits
Whatever commoditized robots can produce is no longer profitable; rather, the production destroys capital. Yesterday I discussed how robots only do work that's profitable, as any enterprise buying,...
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Forget "Free Trade"--It's All About Capital Flows
In a world dominated by mobile capital, mobile capital is the comparative advantage.Defenders and critics of "free trade" and globalization tend to present the issue as either/or: it's inherently good...
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There is No "Free Trade"--There Is Only the Darwinian Game of Trade
Rising income and wealth inequality is causally linked to globalization and the expansion of Darwinian trade and capital flows.Stripped of lofty-sounding abstractions such as comparative advantage,...
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Checking In on the Four Intersecting Cycles
If you think this is a robust, resilient, stable system, please check your Ibogaine / Hopium / Delusionol intake.Correspondent James D. recently asked for an update on the four intersecting cycles I've...
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How Much Longer Can We Get Away With It?
Alas, fakery isn't actually a solution to fiscal/financial crisis..This chart of "debt securities and loans"--i.e. total debt in the U.S. economy--is also a chart of the creation and distribution of...
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Is Profit-Maximizing Data-Mining Undermining Democracy?
If targeting political extremes generates the most profit, then that's what these corporations will pursue.As many of you know, oftwominds.com was falsely labeled propaganda by the propaganda operation...
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Solutions Only Arise Outside the Status Quo
Solutions are only possible outside these ossified, self-serving centralized hierarchies.Correspondent Dan F. asked me to reprint some posts on solutions to the systemic problems I've outlined for...
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Should Facebook and Google Pay Users When They Sell Data Collected from Users?
Let's imagine a model in which the marketers of data distribute some of their immense profits to the users who created and thus "own" the data being sold for a premium.It's not exactly news that...
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Decrypting the Appointment of John Bolton
So perhaps the dominant wing of the Deep State is finally willing to cut a deal with Trump.To many observers, the appointment of John Bolton as national security advisor is the functional equivalent of...
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15 Years of War: To Whose Benefit?
As for Iraq, the implicit gain was supposed to be access to Iraqi oil.Setting aside the 12 years of "no fly zone" air combat operations above Iraq from 1991 to 2003, the U.S. has been at war for almost...
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What If All the Cheap Stuff Goes Away?
Nothing stays the same in dynamic systems, and it's inevitable that the current glut of low costs / cheap stuff will give way to scarcities that cannot be filled at current low prices.One of the books...
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