Gresham’s Law

“The difference with Twitter, I think, is that it’s a conversation: there’s always the chance that you can have a rational discussion, which seems often to be almost impossible in comments. If someone’s hell-bent on annoying and insulting you on Twitter, you can just ignore them or block them. If they’re hell-bent on the same in a comment thread, there’s not much you can do, especially since being rational and quoting facts brings no benefit.

‘At their worst, comments are like toxic waste buried under the foundations of an article and irradiating all rational debate with ignorance and aggression. And, like radiation, the effect of the internet commenting culture is spreading. The degradation of discourse online is mirrored in real-world dialogue. Adults who would balk at bullying in school playgrounds are happy to fling snide and often extremely aggressive comments around.’

In the meantime, the comments are going off all over the internet, tiny bit by tiny bit. The radioactive nature, the abuse, the lack of broader engagement, and the fact that lots of the writers are actually on social media, not trawling those comments, all points towards Gresham’s Law taking its inexorable toll. Comments on news sites are broken. Until and unless there’s a fix, the number of established sites that drop them will keep growing.”

How Gresham’s Law explains why news sites are turning off comments

Clarity

“The surge in Iraq did not “win” anything. It bought time. It allowed us to kill some more bad guys and feel better about ourselves. But in the end, shackled to a corrupt, sectarian government in Baghdad and hobbled by our fellow Americans’ unwillingness to commit to a fight lasting decades, the surge just forestalled today’s stalemate.”

The Truth About the Wars

Investing vs Trading

“Funds have poured into private equity and other so-called alternative investments. They have assembled portfolios that are way too complex, way too dependent on supposedly sophisticated (and high fee) investment vehicles. They have chased what is fashionable, they have overly diversified, and they have abandoned what should be their true calling: patient long-term investing in American corporations.”

How pensions make investing too complex

Ding ding ding

“Under such circumstances, therefore, it is well to remember that we are in the middle of the greatest central bank fueled inflation in recorded history, and that this insidious inflation has been channeled into financial assets owing to the arrival of peak debt everywhere around the world.

Stated differently, households are saturated with debt and cannot borrow any more to spend on goods and services that have not been earned with prior production. So the massive tide of liquidity generated by the central banks never leaves the financial markets; it just cycles there, fueling the carry trades and every manner of speculation that modern technology-enabled bankers can concoct.”

Take Cover Now—-They Don’t Ring A Bell At The Top