Last week on ZH, a column noted what the truth of our $222 trillion unfunded liabilities + debt really means. I have never heard it put so eloquently as this: If the end of history were at hand, the dollar, the Fed and federal finances would have nothing to worry about. But between history and…Details
Your lecture this week:
The free market enables miracles. Leonard Read explains: I am a lead pencil—the ordinary wooden pencil familiar to all boys and girls and adults who can read and write.* Writing is both my vocation and my avocation; that’s all I do. You may wonder why I should write a genealogy. Well, to begin with, my…Details
Your lecture of the week this week is a topic I think we will see much more developed in coming years. Nicholas Taleb is a wonderful mind, who explains here why upside optionality is crucial to economics and life. Though the application of the concept doesn’t strike me without serious thought, the abstract is still…Details
This type of news it addictive, perhaps just because it is true. Lawrence Kotlikoff again explains why we are in deep trouble:
We know it is coming. What am I doing to prepare myself and my family?