Don’t ask if there’s a biotech bubble. Ask why we have another bubble.

Summary: Powerful trends occur when multiple waves combine. So it is with the biotech bubble, where our inability to learn about our out-of-control financial sector meets the grifter economy. The results will be spectacular, and typical of our time -- powerful benefits to society manipulated to produce massive profits for the 1%. As you read … Continue reading Don’t ask if there’s a biotech bubble. Ask why we have another bubble.

What does the health care debate reveal about us, and our future?

Summary:  Today we have a glance at the debate about one of the most important domestic public policy debates of our time, repeated in every generation since 1945, that illuminates the moral and intellectual nature of America at this point in time. The photo below captures it perfectly, the aggressive ignorance resulting from generations of … Continue reading What does the health care debate reveal about us, and our future?

Update: yes, the Paulson Plan was just theft

Opening of "The Paulson Plan will buy assets cheap, just as all good cons offer easy money to the marks" (30 September 2008): “Buy this because it is extraordinarily cheap. The owner must sell right now because…” This is the opening line of a thousand confidence games. Stories told by well-dressed, smooth-talking grifters. Like many of … Continue reading Update: yes, the Paulson Plan was just theft

The Paulson Plan will buy assets cheap, just as all good cons offer easy money to the marks

"Buy this because it is extraordinarily cheap.  The owner must sell right now because..." This is the opening line of a thousand confidence games.  Stories told by well-dressed, smooth-talking grifters.  Like many of those sent out to sell the Paulson Plan (which is not dead, as Congress will certainly reconsider some form of it later this … Continue reading The Paulson Plan will buy assets cheap, just as all good cons offer easy money to the marks