Sunday, July 29, 2012

Monday Morning

Latest Hussman: "[O]one almost wonders why nations across the world and throughout recorded history have ever had to deal with economic recessions or fluctuations in the financial markets. The current, widely-embraced message is that there is no such thing as an economic problem, and no such thing as risk. Bernanke, Draghi and other central bankers have finally figured it out, and now, as a result, economic recessions and market downturns never have to happen again. They just won’t allow it, printing more money will solve everything, and that’s all that any of us need to understand. And if it doesn’t solve everything, they can just keep doing more until it works, because there is no consequence to doing so, and all historical evidence to the contrary can finally, thankfully, be ignored."

Publishing investment content: "The lack of quality investment websites also floors me. This has been a major opportunity for the past 10 years, but most sites simply follow the ‘vomit up as much content as possible and put as many Google ads on a page’ business model. Most are simply low quality content farms, with some – and I’m not joking – having over 4000 writers."

"The state that cannot do project management generates legislation of thousands of pages of entirely opaque prose telling businesses how to do stuff, with the result that business comes to a halt."

Falky on The Non-Linearity of Leadership Competence: "CEOs and politicians with tens of thousands of subjects are much less competent than leaders of organizations with 10 to 100 people. The big leaders are very good at politics and public relations, necessary skills, but ones I personally don't find very interesting or admirable, mainly because platitudes and insincerity are so common in that realm."

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