Posts Tagged ‘Ayn Rand’

Ayn Rand Resurrected

Going Galt with Stephen Colbert

Courtesy of Benign Brodwicz’s The Animal Spirits Page

Brilliant.

The Colbert Report Mon – Thurs 11:30pm / 10:30c
The Word – Rand Illusion
www.colbertnation.com
Colbert Report Full Episodes Political Humor U.S. Speedskating

 

Want more?  Dangerous Minds’ Richard Metzger responds to Andrew Corsello’s The Bitch is Back article in GQ.

Ayn Rand Assholes

ayn rand
 

Andrew Corsello’s The Bitch is Back article from GQ on the boorish subject of Ayn Rand Assholes is probably the best takedown of Ayn Rand’s followers (and Alan Greenspan and Wall Street) I’ve yet seen and certainly the funniest (other than Stephen Colbert’s). It was about time for an article like this to appear and I am glad it was Corsello who wrote it.

I myself became an unabashed Ayn Rand fanatic when I was in 7th or 8th grade. I’d been reading the works of Victor Hugo and so I was totally primed for discovering another “Romantic” (note capital “r”) writer like Ayn Rand next, but it wasn’t via her well-known fiction that I discovered the Russian-born novelist and philosopher, but rather a more obscure volume called Introduction to Objectivist Epistemology, which I read extremely slowly so I could take in the complexity of the thought. It’s a very dry, technical book, but made a huge impression on me (more on this below,…
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Ayn Rand Eviscerated in GQ

Ayn Rand Eviscerated in GQ

Postal Stamp Art On Display At National Postal Museum

Courtesy of Joshua M Brown, The Reformed Broker

I’ve not read anything by Andrew Corsello before, but his evisceration of Ayn Rand in GQ magazine is a thing of caustic, vicious and snark-filled beauty.

I did my share of battle with the Rand Cult earlier this fall when I interviewed her Ghost to discuss capitalism’s share of blame for the credit crisis.  Corsello never meets her ghost, but speaks to quite a few of her acolytes in his piece.

I’m adding Andrew Corsello to my list of writers to keep up with.

Here’s why:

goddamn, the experience of being 19 years old and reading Ayn Rand! The crystal-shivering-at-the-breaking-pitch intensity of it! Not just for that 19-year-old, but for everybody unfortunate enough to be caught in his psychic blast radius. Is “experience” even the right word for The Fountainhead and Atlas Shrugged? Ayn Rand’s idolization of Mickey Spillane and cigarettes and capitalism—an experience? Her tentacular contempt for Shakespeare and Beethoven and Karl Marx and facial hair and government and “subnormal” children and the poor and the Baby Jesus and the U.N. and homosexuals and “simpering” social workers and French Impressionism and a thousand other things the flesh is heir to: experience?

Read the rest:

The Bitch is Back (GQ)

Read Also:

Interview With The Ghost Of Ayn Rand (TRB)

 


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How the Servant Became a Predator: Finance’s Five Fatal Flaws

Here’s an excellent, must-read article by William K. Black.  Special thanks to New Deal 2.0. - Ilene

How the Servant Became a Predator: Finance’s Five Fatal Flaws

By Bill Black, Courtesy of New Deal 2.0

money-shark-150 - preditor stateRoosevelt Institute Braintruster William K. Black explains how the finance economy preys on the real economy instead of serving it. He shows how both have become dysfunctional and warns that we must not neglect the real economy — the source of our jobs, our incomes, and the creator of goods and services — as we focus on financial reform.

What exactly is the function of the financial sector in our society? Simply this: Its sole function is supplying capital efficiently to aid the real economy. The financial sector is a tool to help those that make real tools, not an end in itself. But five fatal flaws in the financial sector’s current structure have created a monster that drains the real economy, promotes fraud and corruption, threatens democracy, and causes recurrent, intensifying crises.

1. The financial sector harms the real economy.

Even when not in crisis, the financial sector harms the real economy. First, it is vastly too large. The finance sector is an intermediary — essentially a “middleman”. Like all middlemen, it should be as small as possible, while still being capable of accomplishing its mission. Otherwise it is inherently parasitical. Unfortunately, it is now vastly larger than necessary, dwarfing the real economy it is supposed to serve. Forty years ago, our real economy grew better with a financial sector that received one-twentieth as large a percentage of total profits (2%) than does the current financial sector (40%). The minimum measure of how much damage the bloated, grossly over-compensated finance sector causes to the real economy is this massive increase in the share of total national income wasted through the finance sector’s parasitism.

Second, the finance sector is worse than parasitic. In the title of his recent book, The Predator State, James Galbraith aptly names the problem. The financial sector functions as the sharp canines that the predator state uses to rend the nation. In addition to siphoning off capital for its own benefit, the finance sector misallocates the remaining capital in ways that harm the real economy in order to reward already-rich financial elites harming the nation. The facts are alarming:

• Corporate stock repurchases…
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Zero Hedge

Prins: "We're Living In A Permanent Distortion"

Courtesy of ZeroHedge View original post here.

Via Greg Hunter’s USAWatchdog.com,

Three time best-selling book author Nomi Prins says long before the Covid 19 crisis, the global economy was faltering big time.  The Fed stepped in with the start of massive money printing in late 2019 to save the day. 

Prins explains, “We were already in crisis mode as I mentioned at the end of my last book going into 2019."

&q...



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Phil's Favorites

Ethical challenges loom over decisions to resume in-person college classes

I don't see how universities can be safely reopened. Classes may have to shift to largely or only online. Dorms, if they reopen, would probably need to limit rooms to one person, and maybe only for students without other options. This would obviously be a financial disaster for many colleges and millions of people. The federal government would ideally step in to help universities and employees survive financially. Any thoughts?

Ethical challenges loom over decisions to resume in-person college classes

It’s hard to social distance on campus. AP Photo/Rick Bowmer

Courtesy of Neta C. Crawford, ...



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Biotech/COVID-19

Ethical challenges loom over decisions to resume in-person college classes

I don't see how universities can be safely reopened. Classes may have to shift to largely or only online. Dorms, if they reopen, would probably need to limit rooms to one person, and maybe only for students without other options. This would obviously be a financial disaster for many colleges and millions of people. The federal government would ideally step in to help universities and employees survive financially. Any thoughts?

Ethical challenges loom over decisions to resume in-person college classes

It’s hard to social distance on campus. AP Photo/Rick Bowmer

Courtesy of Neta C. Crawford, ...



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ValueWalk

Facebook Stock Crashes Due To Ad Boycott - Key Investing Points

By Sven Carlin. Originally published at ValueWalk.

Facebook, Inc. (NASDAQ:FB) stock crashed 8.32% on Friday because of the announced ad boycott by many companies like Unilever, Coca Cola, recently Starbucks on Sunday that might push the stock down even more during this week.

Q2 2020 hedge fund letters, conferences and more

However, investing is about knowing how to differentiate between the noise and fundamentals and we discuss Facebook's recent news and compare it to FB fundamentals.

  • Facebook stock crash
  • Ad boycott
  • Facebook stock volatility
  • Facebook's fundamentals
  • Be sure of volatility
  • My po...


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Chart School

Golds quick price move increases the odds of a correction

Courtesy of Read the Ticker

Every market corrects, maybe profit taking, maybe of allowing those who missed out, to get in!


The current open interest on the gold contract looks to high after a very fast price move, it looks like 2008 may be repeating. A quick flushing out of the weak hands open interest may take place before a real advance in price takes place. The correction may be on the back of a wider sell off of risk assets (either before of after US elections) as all assets suffer contagion selling (just like 2008).

This blog view is a gold price correction of 10% to 20% range is a buying opportunity. Of course we may see  a very minor price correction but a long time correction, a price or time is correction is expected, we shall watch and...

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The Technical Traders

Wild Volatility Continues As US Markets Attempt To Establish New Trend

Courtesy of Technical Traders

We’ve continued to attempt to warn investors of the risks ahead for the US and global markets by generating these research posts and by providing very clear data supporting our conclusions.  Throughout the entire months of May and June, we’ve seen various economic data points report very mixed results – and in some cases, surprise numbers as a result of the deep economic collapse related to the COVID-19 virus event.  This research post should help to clear things up going forward for most traders/investors.

As technical traders, we attempt to digest these economic data factors into technical and price analysis while determining where and what ...



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Kimble Charting Solutions

Nasdaq 100 Relative Strength Testing 2000 Highs

Courtesy of Chris Kimble

The tech bubble didn’t end well. BUT it did tell us that the world was shifting into the technology age…

Since the Nasdaq 100 bottomed in 2002, the broader markets have turned over leadership to the technology sector.

This can be seen in today’s chart, highlighting the ratio of Nasdaq 100 to S&P 500 performance (on a “monthly” basis).

As you can see, the bars are in a rising bullish channel and have turned sharply higher since the 2018 stock market lows. This highlights the strength of the Nasdaq 100 and large-cap tech stocks.

...

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Lee's Free Thinking

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

 

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

Courtesy of  

The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.

The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...



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Digital Currencies

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

 

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

App-etising? LDprod

Courtesy of Michael Rogerson, University of Bath and Glenn Parry, University of Surrey

Food supply chains were vulnerable long before the coronavirus pandemic. Recent scandals have ranged from modern slavery ...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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