Back around 2007, investor John Paulsen began to feel skeptical about the viability of mortgage securities. Though demand for them was much greater than supply, Paulsen sensed that lending standards had plummeted so far that loan delinquencies were set to surge. The “third rate” hedge fund manager (that’s what those who covered him at top investment banks felt) proceeded to very inexpensively purchase insurance on mortgages. He was able to because the consensus in the marketplace was that he was very wrong.
What a glorious thing the reopening is! After nearly a year of darkening times, the light has begun to dawn, at least in the US. Given how incredibly political this pandemic has been from the beginning, many people smell a rat. Is it really the case that the reopening of the American economy, particularly in blue states, is so perfectly timed? Do the science and politics really line up so well?
As a naturally optimistic person, it vexes me that the word catastrophe has echoed in my mind since early March 2020. It’s the word the great smallpox eradicator Donald Henderson used in his 2006 prediction of the consequences of lockdown, a word that wasn’t around then. His masterful article addressed the idea of travel restrictions, forced human separation, business and school closings, mask mandates, limits on public gatherings, quarantines, and the entire litany of brutality to which we’ve been subjected for nearly a year, all summed up in the word lockdown.
What better way to begin a review of what is an excellent book than to say that the book’s author always knew. It’s as simple as that. Jeffrey Tucker knew in March of 2020 that tragic times were ahead.I remember it vividly. In February of 2020 witless headline writers were trying in vain to tie a falling stock market to a coronavirus that investors had been pricing for many weeks. They revealed their misunderstanding of big market lurches. They’re a consequence of surprise. In February the surprise wasn’t a virus that had been in the news since early January; rather it was the presidential primary success of a since forgotten socialist by the name of Bernie Sanders. Of course, by month’s end Sanders was falling as quickly as he had risen. Stocks soared as a risk-factor to future growth was vanquished. Sanders, as I argue in my upcoming book When Politicians Panicked, was the original “coronavirus.”
I was born under the flag of the People’s Republic of China, a country that remains under the absolute rule of the Chinese Communist Party to this day. I have very few memories of my early childhood in mainland China, save for a visit to the Forbidden City—a brief tourist stop when my family traveled to the American consulate in Beijing to apply for a visa.
The Great Brain is an excellent collection of children’s books that was written by John D. Fitzgerald, and was said to be loosely based on his life growing up in Adenville, UT. Tom is the “Great Brain” in possession of remarkable skills when it comes to making money while helping out other kids in his somewhat idyllic, early 1900s world.
At first glance, a lot of the social problems and resource waste emerging from government intervention seem pretty easy to fix: the government should just stop doing whatever it is doing that is creating the problems and the waste. The stubborn persistence of institutions and organizations that keep societies poor is a vexing problem for social scientists. In Political Capitalism, the economist Randall Holcombe takes on this problem by analyzing “political capitalism” as a distinct economic system with its own logic and features rather than as some kind of midpoint between capitalism and socialism.
"We don’t realistically anticipate that we would be moving to either tier 2 or reopening K-12 schools at least until after the election, in early November.” Those are the words of a west coast health director. No in-person schooling until after the election? Hmmm.Please think about what was said. It reads as kind of a ransom note. Vote for science-reverent candidate Joe Biden, or else….
For so many months, it’s been nonstop bad news on business closures, arts trashed, museum shuttering, unemployment, missed surgeries and diagnostics, plus rising loneliness, drug overdoses, depression, and suicide. Every day has been as dark or darker than the previous one.
Why watch COVID press conferences and briefings by politicians? They are just upsetting. These people seem to have no clue about why the virus is ignoring them. They keep issuing strange and arbitrary rules that they make up, change by the day, all enforced by intimidation and compulsion.
Parenting is a difficult enterprise, more so when current events throw curveballs in our efforts to foster a benevolent sense of life and the view that the universe is rational and predictable. Here are ten tips to help children cope with their emotional reactions when the world around them is in turmoil.