Monthly Archives: September 2017

For someone with hundreds of millions of dollars, like ex-Goldman alumnus Cohn, $30 to $45k is a rounding error.  But for a so-called financial wizard advising the government purportedly on how best to ‘help the middle class’, it’s revealing and … Continue reading →

Joseph Schumpeter popularized the economic concept of ‘creative destruction’ in the 1950’s and spoke of the vigorous push back from threatened incumbents: “To undertake such new things is difficult and constitutes a distinct economic function, first because they lie outside … Continue reading →

Self-delusion and wilful blindness, how great thou art.  See:  Investors Seemingly Learned Nothing from History: “…I am blinded by a sense of history…In our flat, interconnected and networked world, the odds favor less stability over more stability. To this observer … Continue reading →