Joined last year and and started profitably trading options thanks to everything I have learned here. THANK YOU!!
Phil, Passed a milestone today since joining 2 months ago. 25% of my account is in buy/writes, bull call spreads and disaster hedges. A majority of the trades were taken directly from your ideas or someone else`s contributions. Some were daytrades that became spreads.
That part of my account is up 30% as of today. I don`t worry about it, or mess with it much, did a few rolls etc.
Rest of the account is there to day trade, cover the writes and take advantage of opportunities.
Thanks to everyone who contributes here, what a sweet way to trade, so many opportunities.
Happy Thanksgiving Phil and to your family and associates. Also to all of the other fellow citizens of Phil's Stock World. I am particularly happy and thankful that I clicked on your article in Seeking Alpha a number of years ago. That opened the gate to Phil's Stock World and "being the house". My wallet thanks you as does my peace of mind in trading options, stocks and rarely futures. Your liberal views opened up my views—being a boot strapper (pulled myself out of a poor background) I was a CONSERVATIVE—cynical of others who weren't as driven. Now, I am much less so; you have taught me more than how to make money and manage risk. So, again I give thanks to you and the others of PSW!!
Thanks for the oil tip Phil: Bot & sold the USO May 29 calls for net $125. Not bad for few minutes work.
Phil - It is nice being more discipline with my trading. Generally, I am out earlier than most, but my results, overall, are much better than they were when I was trying to squeeze 80 cups of lemonade out of one lemon! On the other side, I am learning the value of rolling and turning losses into non-losses or small gains. I so appreciate the time you have spent with me and others who have benefited greatly from your knowledge. Thank you!
Phil / TNA – On Monday you put out the TNA BCS 41/47. As I mentioned I work during market hours so on Tuesday morning on my way out the door (premarket) I put in an advanced TOS '1st trigger sequence' order to fill the BCS. I can control the entry using this method vs. the vertical entry that TOS allows for the BCS. I filled the June 41 long call but never filled the 47 short call. I let that ride into today. OMG ..TNA popped 7.5%!… the $3.60 entry is almost a double! Tomorrow will be a OCO bracket to get out of TNA before Ben speaks. I should be able to preserve 85% – 100% on the trade. For the income portfolio plays in my IRA's, doing very well… I do like collecting premium! Well done and thanks!
Nice call on the QQQ puts this morning Phil. I bought 10 at .13 this morning for fun day trade. Just closed at .95. Sweet hedge for the day!
Being on this board is better than successfully completing the Times crossword. Phil's panoply of comments manage to excite, illuminate, frustrate, exasperate, confuse, enlighten, outrage, invigorate and stupefy (and that's par for the morning session only!). But goddammit, it's addictive, informative and when it all goes right extremely profitable.
Phil — gotta thank you for your advice this week, and especially today. I took many aspects of your advice this morning, with all of my shorts -- being prepared on the short side, selling into intial excitement, taking the money and running, not being greedy. I also made money on the your /QM and /YM calls. It used to be I would be terrified of weeks like this one. Now, it feels somewhat comfortable, for want of a better word.
On Optrader's section yesterday he was asked how he works with AAPL as an investment. He replied that he just ‘plays with the covers'. I've got a separate portfolio where I use primarily this technique over the past 6 months. Up 60% The principles involved are stock selection, patience, patience, using covers to protect profits, rolling covers to maximize premium return, and exiting when covers are gone and stock price is high. Sometimes it's hard to remember where you learn to do this stuff, but much of it is from integrating principles I've learned here with thing I already knew. Thanks for the help on this, Phil and others.
I like the retirement picks too. The futures trading is certainly more sexy, but the boring retirement picks are the ones that consistently make me money.
Phil/Eric/Cwan/Matt/Cap/etc.. - I've learned so much from all of you and want to thank you. I'm up 23% this month thanks to all of your advice - Thanks, guys!
Kudos on the POT puts! I studied the charts last night and you couldn't have hit the inflection points more perfectly. Since there are often many head fakes in the charts, that was very well done. I know they can't all work this well, but that was an extra unexpected bonus yesterday.
My watch list looks like a grid where Phil's recommendations went UP and everything else went DOWN! It looked something like an ad for Philstockworld. I am half in cash, followed the recommendations (AAPL TASR YHOO) on a 20K portfolio and still up 1% for the day. Thanks!
I really would like to meet all of the posters here who seem like an intriguing bunch of intelligent, opinionated (without being obnoxious or condescending most of the time), and well spoken people. Not so easy to find in this age of instant gratification and me first attitudes. Usually this results in groups where misinformation is used to gain an advantage, or whatever it takes to beat the other guys. I love the one for all, all for one vibe here, sharing your best ideas and helping each other work together for a common goal, to be successful investors!
Phil, I wanted to thank you for all of your teaching, advice, and guidance. Because of you I don't chase, don't worry about missed chances, and play things much more selectively. Yesterday's /ES and /TF and today /CL are my first futures plays of the month. Thanks Phil. (Out of /TF and /ES yesterday with a nice gain)
I have to thank you for excelling yourself during this past week. I have spent a good few hours going over your notes and comments and there are so many gems on repairing and rolling trades that I have been beavering away on paying special attention to my major positions and analysing them using your approach on Tuesday. Being able to look at a group of trades on the same underlying (in this case AAPL) and taking a detached view by assessing the impact of the underlying reaching different price points was extremely reassuring.
Phil/ I hope the next 5 year bear market will be as much fun and as profitable as this 5 year bull market. For those who survived 2008/2009, and who imbibed the wisdom of PSW, what a time it has been. Good to have you by my side. I think you are selling yourself short – you need to triple your prices :)
Dear Phil, I have followed along with your commentary and alerts and have been flabbergasted at your quick analytical skills and your journalistic skills to explain it clearly. In a little over three weeks I have cleared almost 1000.00 dollars and got an intensive education at the same time. I would like to immediately upgrade my membership. It is hard for me to follow all evening as I am in Tokyo but I can join you at the beginning of the market and read the next day.
Phil...The hundred grand portfolio updates are helpful...Fun ..and have been profitable...really like em... made some nice entries into USB, KEY today... and I better add those FAZ calls tomorrow... Really glad you put that up this morning...
10/15/2014: Phil…..been travelling more than not but reading and watching you guys every night. This is to say a big thank you. Even though I don't have the time to trade every day now I set up hedges and base long term strategy on PSW. I now it may sound like BS to some readers but my 401k is down a mere 3%. It hardly gets my attention when I open my brokerage portfolio accounts. And that is by using your longer term hedges and strategies. I don't need to be a day trader to take advantage of PSW. At this time in my life when I cant trade every day……. not losing what we've gained moves front and center. It's just a great feeling to watch your brokerage account hold steady in a sea of red. Thanks Teacher.
Very nice in and out on those USO puts again, easy way to get the subscription covered in just a couple of hours.
Thanks again Phil and everyone here contributing to such intelligent and informative discussion! I have wasted countless hours reading "professional newsletters" and message board blather over the years. Have learned a great deal here in a very short time. I have sent out a number of invites to friends and family for stockworld!
Thanks to your teaching and guidance, I was able to make a killing on my /TF shorts. I averaged into 12 shorts at 1252 and got out of 6 at 1242 and 6 more at 1235. Last week I did the same with /CL, though I got out too early and left $2 on the table. Thank you!
USO, QQQ- Phil, thanks for these plays. Out of USO for about 65% gain today and just keeping 1/4 QQQ.
Phil// Cashing out of my LT holdings have been going on for over two weeks. However, I have elected not to cash all of the holdings including my AAPL, Jan 16 Short Puts at $470 and $480. Plus, I am being opportunistic in selectively putting on those positions for beat down stocks by selling 2016 Puts. That said, YTD harvested profits now stand at $135k on a current account balance of $683K or a 19.81% YTD return. Thanks for your expertise in teaching me how to be patient, be the banker, but also not being greedy, cashing out and harvesting profits.
I subscribed to Phils Stock World full service for a year or so and found that it was extremely helpful. Now I just get the Stock World Weekly summary, which I find invaluable.
Phil does not baby people and certainly can't make someone into a successful stock operator who does not make the effort on their own behalf, but he is extremely generous with his time in answering newbie questions.
Although I found it difficult to follow and implement all his trades in real time, what I did find was that once you got the hang of his methodology and way of thinking, you could work out your own trades and be quite successful. Even just using his patent Rule Number One* alone is worth its weight in gold. Rule Number Two is even better.
Rookie IRA Investor
Phil/ et al- Thanks for the answers to my spread questions last night, as I really needed that little piece of knowledge to crystallize my understanding of spreads. Your help is much appreciated and I have been doing really well for the last couple of months with fewer and fewer missteps as I embrace the PSW ways and watching my portfolios grow.
It is hard to learn the process that Phil teaches, but it is worth the effort. I think it is finally sinking in & so I say Thanks teacher for your patience & expertise! I've had a very good week so far & I know it is because of persisting in this learning process that you teach.
1,000% on SKF - It was a freakin' monster into the center field bleachers! I saw it play out live and squawked it from the StockTwits ID which 14k people follow: Home run trade of the week @philstockworld just knocked cover off ball w $SKF puts. http://bit.ly/piBL Great trade bud!
Phil Pearlman - StockTwits
Well I want to thank P. Davis for his style and for the fact that he affirmed my thoughts for a correction. He was right and his confirmation of my bias saved me thousands. Mr. Davis is amoral when it comes to money. He realizes the poor are screwed but we must fight to win. A measure of sarcasm and dark humour and it is great reading. 100% right on the correction.
An outstanding discussion, primer and visual lesson on toxic assets, failed banks, the Federal Reserve, HR 1207, auditing the Fed, and you, the f*cked taxpayer. Don’t miss this clip and then send it to someone else. Pay it forward until we have millions of f*cked taxpayers who will at least be informed. Awareness is our only chance.
More green shoots from Dylan Ratigan’s awesome new show. Dylan puts on his Banker hat and swaps a (literal) bag of trash, on-air, for $13.9 Trillion worth of Monopoly money from a guy wearing a "Fed" hat. Dylan then explains why we should support Ron Paul’s Audit of the Fed (HR 1207) and explains in plain and simple terms how we have been screwed by the Fed’s bailout of the banks. This is really good stuff. I can’t help but admire Ratigan for what he’s doing with the new show. From our perspective, it just gets better and better. Here are just two of several choice morsels from this clip:
"The Federal Reserve just extended $14 Trillion of our money, our children’s money, America’s future…and now they don’t want to talk about what’s in the bag. And they did it because the banks created a garbage bag full of bad debts." (4:45)
"I feel as if America has suffered the greatest theft and cover-up — ever, … where banks created a pile of garbage, that they paid themselves billions of dollars in personal compensation, and then stuck the trillions of dollars worth of garbage with the American taxpayer. That, to me, is stealing." (7:05)
Lloyd Blankfein’s Days Are Numbered as Chairman of Goldman Sachs
It’s a testament to the odd world in which we live that when a Wall Street firm pays a $550 million fine by conceding negligence in how it dealt with clients, its stock surges, adding billions of dollars in market value for the firm’s shareholders.
But that’s what’s happening to Goldman Sachs, as it reached its long awaited settlement with the Securities and Exchange Commission over how it sold a basket of mortgage related debt to investors in 2007.
Back when the SEC brought the case, the conventional wisdom on Wall Street and the financial media was that Goldman didn’t have to settle — the case was weak and Goldman is, after all, Goldman.
As I wrote on these pages back then, Goldman would have to settle because: (a) the SEC dug up some real questionable activity; and (b) no Wall Street firm, not even one with the ties to government that Goldman possesses can go to war with its primary regulator.
Now that Goldman has indeed settled, the news is being spun, again mostly by the financial media, that the deal with the SEC was a victory for Goldman’s CEO Lloyd Blankfein, who survived the investigation largely unscathed, paying a measly $550 million to the government (equivalent to a few days trading gains at Goldman) and without having to give up any power, such as relinquishing his role as chairman of the board, as senior executives both inside Goldman and at competing firms believed would be part of any settlement.
Well, if history is any guide, Blankfein may not go tomorrow, or even next month, but sometime in 2011, Blankfein will at the very least no longer be chairman of Goldman, and may also be forced out of the firm altogether.
If you don’t believe me ask former Citigroup CEO Sandy Weill. Like Blankfein, Weill (at least on paper) was a good CEO from an operational standpoint. Following the creation of Citigroup in 1998, shares of the big bank soared. The bank was what’s known as a Wall Street darling for its strong earnings and a surging stock price, and Weill was regarded as the King of Wall Street, having engineered the largest…
Eliot Spitzer and William Black call for an immediate Congressional investigation of Lehman’s accounting deception and the release of relevant emails and internal documents.
In December, we argued the urgent need to make public A.I.G.’s emails and “key internal accounting documents and financial models.” A.I.G.’s schemes were at the center of the economic meltdown. Three months later, a year-long report by court-appointed bank examiner Anton Valukas makes it abundantly clear why such investigations are critical to the recovery of our financial system. Every time someone takes a serious look, a new scandal emerges.
The damning 2,200-page report, released last Friday, examines the reasons behind Lehman’s failure in September 2008. It reveals on and off balance-sheet accounting practices the firm’s managers used to deceive the public about Lehman’s true financial condition. Our investigations have shown for years that accounting is the “weapon of choice” for financial deception. Valukas’s findings reveal how Lehman used $50 billion in “repo” loans to fool investors into thinking that it was on sound financial footing. As our December co-author Frank Partnoy recently explained as part of a major report of the Roosevelt Institute, “Make Markets Be Markets“, such abusive off-balance accounting was and is endemic. It was a major cause of the financial crisis, and it will lead to future crises.
According to emails described in the report, CEO Richard Fuld and other senior Lehman executives were aware of the games being played and yet signed off on quarterly and annual reports. Lehman’s auditor Ernst & Young knew and kept quiet.
The Valukas report also exposes the dysfunctional relationship between the country’s main regulatory bodies and the systemically dangerous institutions (SDIs) they are supposed to be policing. The NY Fed, the regulatory agency led by then FRBNY President Geithner, has a clear statutory mission to promote the safety and soundness of the banking system and compliance with the law. Yet it stood by while Lehman deceived the public through a scheme that FRBNY officials likened to a “three card monte routine” (p. 1470). The report states:
“The FRBNY discounted the value of Lehman’s pool to account for these collateral transfers. However, the FRBNY did not request that Lehman exclude this collateral from its reported liquidity pool. In the…
Specifically, if I read him correctly, Felix is annoyed that:
1) I have a job that in a just world would belong to a normal out-of-work journalist who hasn’t been at the center of a huge financial scandal, and
2) I have not explained every last detail of my scandalous background in my Business Insider bio, which states merely that, at the end of my Wall Street career, I was "keelhauled by then-Attorney General Eliot Spitzer over conflicts of interest between research and banking."
Well, it is no fun to annoy the king of financial bloggers, so let me address these points, starting with the second one.
In the 7 years since I settled the widely publicized civil securities-fraud complaint brought against me by Eliot Spitzer and the SEC, I have contributed commentary to more than a dozen news organizations, including Slate, Fortune, NPR, MSNBC, CNN, FT, the BBC, The Atlantic, Forbes, The New York Times, Bloomberg, EuroMoney, Yahoo (I’m a host of their finance show, TechTicker), and CNBC. When appropriate, I have gone to great lengths to detail every last bit of what had happened, so the readers, viewers, and listeners of these organizations would know exactly who they were dealing with (cue scary music).
In the early years, I also launched my own blog, Internet Outsider, in which I addressed what had happened in as much detail as I was able to. (Thanks to various legal agreements, I have never been able to discuss the allegations publicly. Eventually, when there’s not a soul left on earth who gives a damn, I’ll be able to tell my side of the story. My grandchildren will love it!)
Two years ago, when we launched Business Insider, I again frequently discussed what had happened to me, lest there were any readers who had not already gotten sick of my story. This effort was made easier by the help of the folks who posted Eliot Spitzer’s press release in the comments whenever I said something they disagreed with. Whenever possible, I responded to readers’ questions about
RealClearMarkets has an interesting interview with Charlie Gasparino regarding his new book "The Sellout." There seems to be a consensus forming that something has gone seriously wrong with the US republic, and that the Obama administration is failing to address it, failing badly.
One has to wonder what it will take to give Washington a wakeup call. It seems that, when confronted by white collar crime, people lose all the perspective which they have when it comes to fighting crime and injustice. "It won’t work, it can’t be done, they will just come back and do it again."
Well, duh. If you make it worth their while, administer wristslap justice at worst, and let all the top dogs openly flout the law, of course they will be back. What the US needs is the reincarnation of Melvin Purvis with a minor in finance. I would put Eliot Spitzer in charge of the SEC with the right resources and let him rip through Wall Street like the wrath of God, and make the bankers howl.
But that probably won’t happen, because there is too much dirt, too many scandals on both sides of the aisle for this crew to administer its oath to uphold the Constitution.
Here is an excerpt from the interview:
"I don’t know when it’s going to happen, but if history is any guide, it has to happen again--the "it" being another financial crash. Of course, it won’t happen tomorrow or next week, or maybe not even two years from now. But when the memory of 2008 wears off, and mark my words it will wear off, excessive risk taking will be back in a form that evades all these alleged regulatory controls that have been established. Regulation can never cure the disease of excessive risk.
The only thing that can cure it is tough love--allowing firms to fail. That doesn’t mean I wanted the Fed and the Treasury to walk away last year. That would have meant Armageddon. But they should have walked away before that, when the systemic risk was smaller and the damage would have been limited. 1998 would have been a great place to start. Let Long Term Capital Management fail; let Lehman, and as I show in my book, possibly Merrill to fail,
If street thugs were to hold up a convenience store and drive off with $1 million, it would be national news. But when a venerable Boston bank rips off California’s two largest pension funds for $56 million, it’s business-as-usual — at least to the anchors of CNBC.
State Street Bank — the world’s largest servicer of pensions — systematically ripped off CalPERS and CalSTRS over a period of eight years. It did this by adding a tiny surcharge on foreign currency trades. But this adds up, especially considering that some $35 billion in 42,000 transactions were traded by these funds since 2001.
So when two whistle-blowers filed suit under seal in April 2008, attorneys from my office immediately investigated — examining hundreds of thousands of pages of documents, interviewing witnesses and subpoenaing records.
They found in the course of an 18-month investigation that State Street was contractually obligated to give CalPERS and CalSTRS the "interbank rate" at the precise time of the trade. Instead, State Street consistently charged at or near the highest rate of the day, even if the interbank rate was lower at the time of trade. And traders concealed the fraud by deliberately failing to include time stamp data in its reports, so that the pension funds could not determine the true execution costs.
When the suit was filed, we notified the media and held a press conference — to bring the fraud to light and to deter other financial traders from considering similar action. This is a routine part of prosecuting important corporate fraud cases.
But, in a commentary post today, CNBC anchor Michelle Caruso-Cabrera sneered at California’s effort to recover $200 million in damages and penalties, using a made-up quote from Elliot Spitzer to call it "quaint."
This follows an interview Tuesday that was straight out of the Daily Show. CNBC invited me on to talk about the case, and then Caruso-Cabrera asked why I would come on the air to talk about it.
Her co-anchors seemed to have no problem with the rip-off ("as long as they quoted you a dollar…
Eliot Spitzer was kind enough to sit down with me on TechTicker last week. This was the second time I had ever met him--the first being not when he was pulverizing me as Attorney General, but later, when I was writing for Slate Magazine and he was running for Governor. It was the first time I’d ever talked to him about any of this stuff.
It was a very interesting half-hour to say the least. We’ll post a couple of clips here…
As many of you know, my career as a top-ranked Wall Street research analyst ended in 2002, when a then-little-known New York Attorney General named Eliot Spitzer accused me and my firm (Merrill Lynch) of producing bogus research to curry favor with banking clients.
Merrill denied and then settled the charges, but Spitzer’s allegations resonated with furious investors who had lost their shirts in the market crash. Spitzer soon expanded his research investigation to other firms, eventually forcing the industry into a "Global Settlement" that changed the longstanding relationship between bankers and research analysts. I, meanwhile, got tossed out of the securities industry.
For Spitzer, the research investigation was the first of many. Over the next few years, as the newly crowned ‘Sheriff of Wall Street’, he launched similarly aggressive investigations into mutual funds, insurance, and other industries, often exposing shady practices that had come to be regarded as business as usual.
By 2003, when I was taking the first steps toward rebuilding my shattered reputation--writing commentary for Slate, The Atlantic, and other publications--Eliot Spitzer’s fame and success had soared. In 2004, he was re-elected as Attorney General. In 2006, he was elected Governor of New York in a landslide. By 2007, he was frequently mentioned as a possible future presidential candidate.
Meanwhile, by the spring of last year, thanks to the generous second chance many people had given me, I was beginning to rebuild some credibility. TechTicker was doing well, The Business Insider was growing rapidly, and Valleywag had even taken to referring to me as "the disgraced analyst everyone listens to."
Then, one day, I got a note from a New York Times reporter saying I should check out the lead story about Eliot Spitzer that had just hit their front page. I checked it out--and my
In a wide-ranging discussion of the bank bailouts on MSNBC’s Morning Meeting, host Dylan Ratigan described the process by which the Federal Reserve exchanged $13.9 trillion of bad bank debt for cash that it gave to the struggling banks.
Spitzer — who built a reputation as “the Sheriff of Wall Street” for his zealous prosecutions of corporate crime as New York’s attorney-general and then resigned as the state’s governor over revelations he had paid for prostitutes — seemed to agree with Ratigan that the bank bailout amounts to “America’s greatest theft and cover-up ever.”
Advocating in favor of a House bill to audit the Federal Reserve, Spitzer said: “The Federal Reserve has benefited for decades from the notion that it is quasi-autonomous, it’s supposed to be independent. Let me tell you a dirty secret: The Fed has done an absolutely disastrous job since [former Fed Chairman] Paul Volcker left.
“The reality is the Fed has blown it. Time and time again, they blew it. Bubble after bubble, they failed to understand what they were doing to the economy.
Bernanke Goes On Media Blitz
Bernanke is mindful of the fact that he has done a horrible job. In an attempt to change perceptions, Bernanke has gone on a media blitz attempting to whitewash the Fed’s failures, while seeking still more power for the Fed.
Bernanke stepped up his advertising campaign this weekend in a town hall meeting on public TV. The show will air this week in three installments on PBS’ "The NewsHour with Jim Lehrer."
Jim Lehrer invited questions and comments in advance. Here is the question/comment that I submitted.
Given that you failed miserably to see what was coming, how can giving the Fed more regulatory power possibly fix anything? I have a better idea, let’s get rid of the Fed totally along with its micro-mismanagement of interest rates that repetitively blows bubbles of
Quote: "Power alters the basic neurological processes in the brain and inhibits those parts of the brain that would allow a person to show restraint. It allows them to systematically ignore the consequences of their actions." Adam Galinsky, Kellogg School of Management.
It is too bad Eliot could not have exercised better judgement, knowing that he would be targeted by the powers on Wall Street and Washington when he took them on. See the quote at the top of this blog for the most likely reason.
That he was exposed in his scandal by an intense Federal investigation speaks to the depth of the corruption of Washington under Bush, and even now, by the financial powers.
He is right of course, and everything that the Obama Administration is doing on the economic front is a sham.
There is a ‘new regulatory spirit’ and the Democrats under the skillful hand of Larry Summers and Barney Frank seek to channel it into irrelevancy.
July 14 (Bloomberg) — Eliot Spitzer, the former New York governor and attorney general, said U.S. banks made a “bloody fortune” while receiving taxpayer money without a proven benefit to the wider economy.
Politicians understand the “populist rage” with excesses in the financial industry and in this case the “public is right,” said Spitzer in a Bloomberg Television interview today. “We have saved financial services, we have not created a single job. We are still bleeding jobs.”
As New York attorney general, Spitzer was known as “the sheriff of Wall Street.” He changed business practices and collected billions of dollars in settlements from financial corporations such as Merrill Lynch & Co., American International Group Inc. and Marsh & McLennan Cos. He later became governor, resigning in March 2008 after he was identified as a client of the Emperors Club VIP, a high-priced prostitution ring.
Spitzer said new rules proposed by President Barack Obama’s administration are irrelevant because regulators failed to enforce existing regulations.
“Regulatory agencies already had the power to do everything they needed to do,” he said. “They just affirmatively chose not to do it.”
“You don’t need new regs to do it, you just need the will to do
Chinese authorities are looking at ways to encourage people to have more children, less than 18 months after dropping the country’s contentious one-child policy in a bid to boost birth rates and stave off a demographic decline.
The Communist party introduced the one-child policy in 1979 to tackle population growth. It was scrapped in late 2015 following years of warnings from demographers over low birth rates and an aging population.
tpsdave / PixabayBig-Money Speculators Are Buying Up and Renting Out Farms, and Pricing Real Farmers out of the Market
John Steinbeck’s novel “Grapes of Wrath.” Woody Guthrie’s ballad “Deportee.” Edward R. Murrow’s documentary “Harvest of Shame.” Every decade or so, the public is shocked by yet another discovery that migrant farmworkers are being horribly abused by the wealthy masters of the corporate food system. And here we go again. Last November, the New York Times…
New discoveries about the human mind show the limitations of reason.
By Elizabeth Kolbert
In “Denying to the Grave: Why We Ignore the Facts That Will Save Us” (Oxford), Jack Gorman, a psychiatrist, and his daughter, Sara Gorman, a public-health specialist, probe the gap between what science tells us and what we tell ourselves. Their concern is with those persistent beliefs which are not just demonstrably false but also potentially deadly, like the conviction that vaccines are hazardous. Of course, what’s hazardous is not being vaccinated; that’s why vaccines were created in the first place. “Immunization is one of the triumphs of modern medicine,” the Gormans no...
US stocks finish at record high. Gold and silver at multi-week highs. Bitcoin near all-time high. Trump national security adviser scandal evolving, EPA chief controversy ramping up after email release. Debate over Putin and fake news intensifies.
As the Trump presidency unravels, unraveling the country along with it, there is no real political antecedent, no lessons from American history on which to draw and provide guidance. We are in entirely uncharted waters.
But there is an antecedent in our popular culture that provides a prism through which to view the contemporary calamity, especially the alleged collusion between Trump’s henchmen and Russian intelligence to deny Hillary Clinton the presidency. I am not the first observer who has ...
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