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Member since: Fri Feb 18, 2011, 08:22 PM
Number of posts: 18,763

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"When people tell you who they are, believe them the first time."

Oh, the tales I could tell.

But I'll settle for writing that quote down so I remember it.

And ... international capitalists financed and supplied Hitler to make money. Nazi Germany was viewed as a good investment. This was not known after the war very much. Governments wanted to hush things up for obvious reasons. In the 1960s it leaked into a few books. Then more in the 1980s. Now it's readily available. Didn't we supply Hitler with leaded fuel? Trucks? Tires for awhile?

As US and Soviet armies converged on Berlin, both countries wanted German technology, scientists, engineering. We enlsited former Nazi organization members as spy networks for the Cold War. They were the remaining levers of surveillance in the country. NASA's space program? Lots of German rocket scientists there.

I find books about the period fascinating. "Churchill's Ministry of Ungentlemanly Warfare". Nigel Hamilton's trilogy of FDR at war. Jean Edward Smith and Robert Dallek, same subject.
Posted by bucolic_frolic | Fri May 22, 2020, 10:29 AM (0 replies)

I learn more off well-selected YouTube and Open Culture than I did in most college courses

There's a part of me that says, democracy is when the last 3% who pay no attention to the public good, are swayed by big money and decide elections, so you have the dumbest steering the ship.

College is where the ignorant congregate to learn something which wasn't learned by the teachers who would be out doing something important if they had learned something. And if they do know anything, they don't want to tell you because they're afraid you might steal it and make something more of it than they ever could. Oh, and keep paying them, just like you pay doctors and mechanics for their knowledge every time you need something.

Elite schools are for snobbery and little else.

So you want anti-intellectualism, there it is. If you go to college, try to learn something in spite of it. Find a guru who is quietly successful in life and seek guidance, because the self-made know far more than those who operate the system. They know to excel, deliver alpha as investors would say, you need to understand the system and find a niche to exploit. That is very hard these days with so many mediiocre degrees walking around. 1950s to 1980s, degrees were an advantage. Now they're just a driver's license.
Posted by bucolic_frolic | Fri May 22, 2020, 08:03 AM (0 replies)

The Largest Financial Event Of Our Lifetime Is Upon Us - Raoul Pal of Real Vision

The Largest Financial Event Of Our Lifetime Is Upon Us - Raoul Pal of Real Vision

Fantastic interview from Australia with Raoul Pal of Real Vision, who aims to displace mainstream financial journalism.

The US is squeezed. Russia and OPEC undercutting our shale producers creating potential bankruptcies at a time all our corporate balance sheets are overleveraged.

Coronavirus gave them opportunity to do so, as Trump fumbled testing.

So we now have an economy where debt implodes as supply and demand are driven toward zero by the pandemic.

Lots of discussion of demographics, retirement bubbles, housing market, the millennial debt generation, central bank options.

Depression if COVID-19 resurfaces next winter and unravels the pension system.

I tend to ignore the crypto discussion at the end.

Beware there are British-Australian terms unknown to the US. Such as people have never known debt since they were in "nappers". I think it's a term for diapers.

But it's a really great interview.

Posted by bucolic_frolic | Thu Mar 12, 2020, 07:34 PM (0 replies)
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