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 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.”
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.
"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….
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